Cary Real Estate Blog

Are you going to Lazy Daze in Cary, NC this year?  That’s the question alot of my friends were asking over the weekend.  One of the reasons I work at LG Real Estate is to be able to shop. 

 Right now, the high for Saturday is only supposed to be 86 degrees – that would be amazing.  Remember to go early – most of the vendors are ready to sell by 8:30am and you can actually see their items before all the crowds arrive. 

Of the 3 streets that are included in the festival, my favorite one is between the center of the Town of Cary and the old elementary school.  This is the street that I go to 1st.  Bring a small purse and remember that most of the vendors are happy to store your things for you at the booth until you are ready to go home.  And, if you want a bit of adult refreshment for a shopping break, you can drop in on the beer garden.  Check out the vendor CD this year to get a preview of the Lazy Daze wares.  See you there!

 When does a business manager crawl under a house?  When you work for LG Real Estate and one of your duties is to represent the firm at home inspections. 

Recently, I observed 3 home inspections in 2 days performed by Matt McClymonds from First Step Home Inspections.  We have worked with Matt and his company for several years.  Matt is thorough, very knowledgeable and best of all is patient and understanding when he explains what he finds.

The 3 inspections were all for buyers we represented who recently purchased a home.  Most real estate contracts today include a cost of repair contingency.  This clause states that if the cost of repairs exceeds a certain dollar limit, the buyer has the option of voiding the contract with no loss of earnest money.  A home inspection is necessary to determine the current structural and mechanical condition of the purchased home.

 Is a home inspection for home buyers only? 

A home inspection is a visual examination of the physical structure and systems of a home.  Is a home inspection for home buyers only?  No, as a matter of fact a home inspection is a valuable report for home sellers and homeowners.  If you are planning to sell your home, a major repair issue can easily send a contracted buyer packing so it’s best to know the working condition of your home prior to listing it. 

As a homeowner not currently planning on selling, an inspection gives you instant feedback on the condition of your home. This type of check up serves as a maintenance inspection and lets you know what items need attention to keep your home in good condition (we call it selling condition).

Moisture in the Crawl Space

I asked Matt what was the most common problem he finds in home inspections.  He quickly answered moisture in the crawl space.  This problem alone can short circuit a home sale since it’s usually not a quick or inexpensive fix.  Fortunately, the crawl space was dry at all three property inspections I observed.

Trying not to disturb Matt as he worked, I asked if he uses any kind of a checklist during his inspection.  My observation is that Matt is a visual detective constantly scanning, testing and noting potential problem areas.  Although he does not carry an actual check list on inspections – his website gives the following list of areas and systems inspected: 

 HVAC systems checkpoint

Since we are experiencing one of the hottest summers on record, properly functioning HVAC systems are of course very important.  One of the tests Matt performs is a temperature differential reading.  He measures the temperature at an outgoing register and the temp reading at the cold air return.  Matt likes to see a 16-20 degree differential, but a 14 degree difference is considered functional.  Matt recommends consistent servicing of your units by a licensed HVAC technician to keep them in prime working order.

We were lucky this time – I did not need to crawl under any homes and all three homes came in with favorable inspections and relatively short repair lists.

Cary listed in the Top 25 Best places to Live

 The town of Cary has done it again.  For the fourth time in the last 8 years, Cary has landed in Money Magazine’s top places to live list.  Cary is ranked #23 out of 100 and is the only North Carolina community to make the top 25 list.

Noteworthy Cary Stats

Money magazine notes Cary’s very low crime rate, AAA bond rating from Moody’s, and an unemployment rate well below the National average. Other factors affecting the ranking include medium income, math and reading test score results, job growth, housing prices, and seasonal temperatures…. view full article.

For more information on Cary and homes in the area, please visit our website at CaryHomesNC.com.

Good news for Cary area resale homes in the 500 -800k price range – we are now getting offers on homes in this price range.  For the past 18 months, both showings and offers were few and far between. 

 Why the sudden surge in the 500-800k price range?

 First and foremost the number of showings has increased.  Showings in general declined in May due to the expiration of the home buyer tax credit at the end of April.  Yet showings in the Cary Area 500- 800k price range increased by 34% (compared to May09). 

 Another reason for the surge is a change in the new home market.  New homes in the Cary area have been outselling resales by a large margin over the last 18 months.  Now with limited bank funding for new homes and a large decline in inventory, resale homes in this price range are finally gaining some momentum. 

What’s happening with Offers?

Now for the offers – they are typically coming in at 10-15% below the current listing price   Sellers should be thrilled to get any kind of offer and we at LG Real Estate negotiate very diligently to bridge the gap.  The key here is for sellers to price their home realistically and be willing to work hard with any offer that is submitted.  Buyers still control the market as they have a large resale inventory to choose from.

Please call us for the latest information on Cary area homes and the current trends in the market.

Featuring the Cary Town Band, North Carolina Symphony and Fantastic Fireworks Display

 The 4^th of July is a very special day at the Koka Booth Amphitheatre in Cary NC.  Bring your picnic baskets, blankets, and lawn chairs and enjoy a good old fashion Independence Day celebration.  The doors open at 3:00 PM and all lawn seating and parking is free.

Free Kids Zone

 An added bonus for families is the Free Kids Zone.  The Kids Zone features slides, water tag, and a Lumpy’s Ice Cream eating contest.   The fun zone is open from 3:00 PM -6:00 PM on the grounds of the Booth Amphitheatre.

Booth Amphitheatre

 The Booth Amphitheatre is located in Cary among 14 acres of hardwoods and pines situated next to Symphony Lake.  The highlight of the 4^th of July celebration is the beautiful firework display over the lake accompanied by the North Carolina Symphony. 

LG Real Estate

Several member of our LG Real Estate team have attended this event in past years and enjoyed it immensely. Jen Grinter and family were there last year and in Jen’s words, “We had a Blast”.

Curb appeal.  Today 90% of all home buyers begin their search online and the first picture they see is the front view of your home – your curb appeal.  Often it determines whether or not a buyer will take a longer look and schedule a showing.  The landscape, front of your house, and front door are the most prominent in a photo or when driving by.

Start with your landscaping

Start with your landscaping.  Is your grass green and freshly mowed?  Do you have variety and color in your plantings?  Are your shrubs and hedges neatly trimmed?  Is the grass along the driveway and curbs edged properly?  Most of these issues are simply a matter of consistent and timely maintenance.

What a Home Buyer sees first

A potential buyer has booked an appointment to see your home and is now approaching your doorway.  Remember, the buyer’s first impression of your home has already been made online and while driving up and parking.  If they have been favorably impressed with your curb appeal, they will be far more receptive to your interior.  Conversely, if the curb appeal is shaky in their mind, they will be far less tolerant of anything in the home they do not like. 

Your Front Door

How does your entrance look?  Let’s pick on the front door.  When the agent and buyer walk up to your home, a critical moment occurs.  The buyer will have a minute or two to survey the entryway and especially the front door while the agent is tending to the lockbox.  Is the door freshly painted or stained?  Is the door attractive and complementary for your home?  Does the door have an attractive kick plate?  What about the welcome mat – is it attractive and welcoming?   Again, all the fixes here are relatively inexpensive.

Curb Appeal Evaluation

So the next time you come home, stop across the street and critically assess your curb appeal.  Make a list of the problem areas you discover.  Tackle clean up and repair chores first, then put some time into projects that will enhance that all important first impression.

Call us at LG Real Estate for an evaluation of your curb appeal and home value.  We have sold over 700 homes and have the staff, expertise and experience to help you with both the home buying and home selling side of your next transaction.

 Pending Sales Increase

Monthly pending home sales in the Triangle increased by 33% in March and 32% in April as compared to March and April of 2009.  The popular home buyer credit expired on April 30th  and since that time both showings and homes going under contract have declined.  This does not appear to be a significant trend as there was a floury of activity in March and April with buyers racing to purchase a home before the credit expired. 

Active Market Segment

The Cary market remains very active in the 250 – 400 price range.  The prospective buyers moving into the area are more often than not falling into this price range and not the higher ranges. 

Trend for Home Buyers

The trend that we are noticing is that buyers are re-defining their needs, especially in the higher price ranges.  Families who are move up candidates do not want the larger financial exposure in this new economy.  They are choosing instead to stay in their present home and upgrade and expand where possible.  Consequently, the Cary move up market in the 500 – 800 price range is very limited.

Remainder of 2010 forecast

The remainder of 2010 looks like an excellent time to buy a home in the Cary and Triangle area.   There are abundant homes listed for sale in all price ranges, interest rates remain very favorable, and home sellers are becoming more motivated as days on the market continue to increase.  Give us a call at LG Real Estate and we’ll be happy to show you around town.

COME SEE WHAT IT MEANS TO GO GREEN!

May 15 -16  /  May 22-23   /  Noon – 6:00 PM

The annual green home tour is a free, self guided event that gives potential Triangle and Cary home buyers the opportunity to step inside certified green homes.  A green home is one that is designed to be more energy efficient, have safer indoor air, and require less maintenance.

The green home tour showcases more than 30 homes in a wide variety of styles, price ranges, and building features.  You as a a home buyer can talk directly to the builders and see the latest in water conservation features, as well a as other green techniques. 

The green home tour is a joint program sponsored by the Home Builders Association of Durham, Orange, Wake, and Chatham Counties.  Tour book pickup locations can be found at TriangleGreenHomeTour.com. 

Please call us at LG Real Estate for a follow up showing of any property on the tour.

We have great news to share that really hasn’t received a great deal of publicity.  We are sharing an FAQ that we found on the North Carolina Energy Office website.  For anyone considering updating their appliances, the details are listed below.  Even if you are not in the market to sell your home, replacing appliances can be a great decision.  It is wonderful to enjoy your new, more energy efficient appliances before you call us at LG Real Estate to list your home for sale.

GET THE FACTS:

When will the rebates be offered?   Phase I will be over a four-day period during Earth Day weekend – Thursday April 22 through Sunday April 25.

How much will the rebates be?  Rebates will be 15 percent off on Energy-Star rated appliances.  The rebates will be in addition to any store, manufacturer or other discounts being offered.

What appliances qualify?  Qualified Energy Star clothes washers, diswashers, refrigerators, and freezers.

Who is eligible to purchase items?  North Carolina residents who are replacing older clothes washers, dishwashers, refrigerators, and freezers are eligible for the rebates on designated Energy Star appliances.  The program is only available to those replacing appliances.  Those purchasing multiple appliances or appliances for commercial properties are not eligible.

Where can I buy the appliances?  The NC Energy Office worked with the NC Retail Merchants Association and expects major retail chains as well as most independent appliance dealers to participate in the rebate program.  You can see the participating merchants at www.energync.net.

Can I receive more than one appliance rebate?  You may receive rebates on more than one appliance, but it must be for different appliances.  For example, you may receive rebates on a refrigerator and clothes washing machine, but not on two refrigerators.

Will there be rebates on any other energy star appliances?  Depending on the funds available, a second phase in June will offer rebates on Energy Star residential gas storage water heaters, tankless gas water heaters, central air conditioners, heat pumps and gas furnaces that replace older items.  These rebates will be mail-ins and can be used with purchase through retailers, contractors or programs offered through utilities.

Where is the money coming from to pay for the rebates?  North Carolina is receiving $8.8 million in federal funds to help homeowners purchase energy efficient appliances. 

See you shopping!

 It all Started with a Fruit Dryer

If I had only known 15 years ago when our youngest son Matt requested a fruit dryer for his 14^th birthday how that would change his life.  We had recently moved to the Cary area from CA.  Matt, the youngest of our four sons was the only one to make the move to the foreign country of NC. He came kicking and screaming which is very typical of any rising 8^th grader. 

The Food Channel, Cary High, and UCLA

While getting acclimated to his new life without a plethora of friends on his doorstep, Matt gained a real fondness for the TV Food Channel.  After learning to make beef jerky from his new contraption he started playing with recipes.  We never gave it a lot of thought until we heard about a Thanksgiving meal he fixed for his college roommates at UCLA.  By this time Matt had graduated from Cary High School in 1999 and went on to become an English major and Spanish minor at UCLA.  He was fortunate enough to spend a year at the University of Barcelona and during the summer he went to a culinary school in Spain. 

Eat This Not That!

Moving the clock forward several years Matt is now the co author of the “Eat This Not That” book series.  His real pride and joy is the latest book of the series “Cook This Not That”.  On Sunday April 18th,  Matt will be at the Cary location of Barnes and Noble to discuss his books.  The book signing and discussion will begin at 4pm.  On Wednesday, April 14th at 3am (the only weird time in the country) Matt will be on the Bonnie Hunt show along with David Zinczenko demonstrating several of the recipes. 

James Beard Food Writing Award

A few weeks ago Matt was nominated for the James Beard Food Writing Award.   This is a great honor and is considered the Oscar of food writing.  The nomination was for an article he did for Men’s Health Magazine called “Beauty and the Beast”.  He just arrived back to NYC from a trip to CA to work with Carl’s Jr/Hardees to help them devise a healthier menu.  There is an article about Matt in the April18th edition of the Cary News.

Proud Mom

As his Mom of course I beam with pride but taking that aside he is a wealth of information and if you meet him on Sunday you will be glad you did.