Cary Real Estate Blog

 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.

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.

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!

YOU’RE UNDER CONTRACT – WHAT’S NEXT?

Here at LG Real Estate, we have noticed a significant upswing in our activity level starting in December.  Our showings have increased, our phones are ringing, and we placed 3 homes under contract the last 2 weeks of January.  Let’s say one of the homes we placed under contract was yours …. What’s next?

First, usually within 7 days of signing the contract, inspections will be set up

These inspections are most often for the home, for radon, and for pests.  If the NC licensed inspector has reason to question what he observes with the HVAC units, the structural integrity, or the rest of the house, other professionals can be scheduled by the buyers to give an opinion.

Next, you as the seller normally wait 7 to 10 days for the inspections to be completed. 

Then, together we review the inspection report and a list of requested repairs.   In today’s market, you need to be prepared to do the majority if not all of the listed items.  In many cases, the buyer’s request that the repair work be done by a NC licensed general contractor.  Our team has great relationships with many contractors / vendors in the area and we can always make suggestions of people that have a proven track record with us. 

Once the agreed repairs are complete, we substantiate the work by sharing the receipts with the buyer’s agent. 

Then, the buyer’s agent will normally schedule a time for the buyers to “walkthru” the home and visually look at the repaired areas.  The buyer’s walkthru can include a re-inspection of the agreed upon repairs by the hired inspector.  This walkthru helps the buyers feel confident about their purchase.  That is why, at this stage, you as a seller can feel a great sense of relief knowing that all the repair work was completed by a quality vendor.

If I can share one tidbit of advice, it is that the money to complete the repairs identified by an inspector needs to be part of your budget from day 1.  A pre-inspection prior to marketing you home is an excellent idea.  My team and I will work diligently with you through this part of the process.  It’s our job to guide and support you through the inspections and repairs so that your “under contract home” is now a “sold home”.

Looking to buy a home in Cary - now is the time to pull the trigger.  Here’s why:

1.  Availability – There are currently 777 detached homes for sale in the Cary, Apex, and Morrisville areas.  The abundance of homes on the market affords you a great opportunity to pick and choose so that finding your dream home is an easier task.

 2.  It’s a buyer’s market –The number of homes for sale in most price ranges far exceeds the number of buyers coming into the market, so it’s a buyer’s market.  Since many of the homes have been on the market for a considerable time, motivated sellers are reducing their price and much more willing to negotiate.

 3.  Interest rates are at historic lows – Earlier this year, rates on conforming 3o year fixed mortgages hit a level not seen in decades and have remained near that low for weeks.  In addition, Capital Bank and Crescent State Bank have designed special low rate mortgage programs to help boost traffic to new home communities in Cary.

 4.  Tax Credits Available for a Limited Time – First-time homebuyers have until April 30, 2010, to take advantage of the federal tax credit of up to $8,000!  Repeat homebuyers have until April 30, 2010, to take advantage of the federal tax credit up to $6,500! Renovations: Are you buying a home that needs a new roof, windows, or insulation? Qualified homeowners may receive a tax credit for 30% of renovation costs, up to a maximum of $1,500, for energy-efficient improvements to their current primary residence.

So now is the ideal time to find your dream home here in Cary.  For an inventory of our current listings in Cary and to view all the available homes, please visit our website at LG Real Estate.

Triple Tax Credit

The new stimulus bill, recently signed by President Obama, triples energy tax credits for energy efficient home improvements.

Now is the time to repair or replace old energy systems with new efficient systems that save monthly energy costs and provide a generous tax credit to boot.  When you invest in highly rated insulation, replacement windows, duct seals, or high-efficiency heating or cooling systems, you can now receive a tax credit worth 30% of the upgrade cost.  The maximum credit you can receive is $1500.

Additional Tax Credits From State of North Carolina

As a homeowner in Cary NC, you can further maximize your savings by choosing projects that also qualify for a State of North Carolina tax credit.  Current projects that qualify for NC tax credits are related to renewable energy sources.   For a list of qualified projects, please refer to this website: North Carolina Incentives for Renewable Energy.

Any energy improvement projects that you are considering need to be installed between January of 2009 and December of 2010.  Cary homeowners – you can then claim your tax credit when you prepare your income tax return for 2009 or 2010.  Here are the important records you should retain to verify your credit:

• Name and address of the manufacturer
• Make and model number of the component
• Statement that the component meets the energy efficient standards
• Climate zones for which the criteria is satisfied
• Declaration that the certification statement is true

List of qualified components and projects

To view a list of components and projects that qualify for the expanded federal tax credit, please visit the Energy Star website.  We would be happy to recommend qualified contractors in the Cary area who have worked with our real estate clients and done a fine job.  Please call LG Real Estate at 919-653-2647 or visit our website: CaryHomesNC.com

NEW! Are you frying a turkey this year or making some traditional recipes that call for frying?  If so, the Town of Cary will collect waste cooking oil and grease at the curb (minimum half-gallon) by appointment through January 30.  To participate in the program, citizens must call Public Works and Utilities Customer Service at 919-469-4090 to schedule a free curbside pick up.

Place the used cooking oil and grease in a sealed food container such as the original oil container, a coffee can or a soda bottle.  Have the container by the curb by 7am on the day of the scheduled pickup.  The collected cooking oils will be recycled into an environmentally beneficial bio-fuel.
Our team at LG Real Estate wishes you a Merry Christmas and a Happy New Year!

At LG Real Estate, we just love keeping our local Cary, NC readers up to date on the best ways to save money.  This weekend, from Friday, 11/7 through Sunday, 11/9, it’s the first annual North Carolina Energy Star Sales Tax Holiday.  It was established to increase consumer awareness about energy efficiency.  Energy star appliances help you save money and produce less greenhouse gas.

Eligible Appliances

Eligible appliances must carry the “energy star” label and include clothes washers, freezers and refrigerators, central and room air conditioners, air-source heat pumps, ceiling fans and programmable thermostats.  Be sure to see your favorite local appliance store for all the requirements.

Continuing Getting My Cary Home ready to sell

Among the suggestions that Lenda and Lee Ann had were:  remove the wallpaper in the dining room.  I love this wallpaper.  I am not a fan of wallpaper in general, but this one was beautiful in my eyes.  It was blue and white (like my china) with a white on white print in the background.  It took forever to pick out and hanging stripes isn’t easy, but I did it.

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So what was next on the list of things to get done?  De-brass.  One of the suggestions from Lenda and Lee Ann who work with me at LG Real Estate was to de-brass the house – replace the ‘gold’ door knobs and hinges, swap out the brass light fixtures, change the kitchen cabinet knobs, etc.  Well, I had planned on doing the entire house, but after looking at the price of door knobs, budget constraints came into play.  We decided on the first floor to give a great first impression to buyers as they come into my home.

Controlling Cost When Preparing Your Cary Home for the Market?

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