CaryRealEstate.com | Cary NC | Local Specialist for Cary Real Estate » Buying

CaryRealEstate.com wants to know…What do you know in Cary?

clairehanes — Mon, 07 Jun 2010 11:37:15 +0000

This sure looks like it could be a LOT of fun! Maybe…”The Amazing Race” meets a Saturday afternoon drive ; ) Anybody wanna play?

Announcing the First-Ever Cary Scavenger Hunt!

Written by Leslie Huffman News, Scavenger Jun 1, 2010
Tags: cary, Koka Booth Amphitheatre, News, North Carolina, Scavenger Hunt

Story by Leslie Huffman

Cary, NC – Do you like looking for hidden clues? Do you want to win prizes? Do you love Cary? Here is your chance to come and join the hunt; the first ever Cary Scavenger Hunt! Get out your map and mark your calendars for July 24th.

Test your knowledge about Cary. Grab some friends, form a team and sign up for The Hunt. Who knows, you may just win!

Teams

Compete in the Scavenger Hunt two ways:

Adult teams
Family teams

Find out all about it on the Teams & Sign Up page.

Prizes

Koka Booth Amphitheatre is offering some great prizes:

Adult Teams – 10 VIP tickets to the REO Speedwagon & Pat Benatar show
Family Teams – Private Party Tent for 20 at Movies by Moonlight

Learn more on the Scavenger Hunt page.

Our Team: Koka Booth and CaryCitizen

CaryCitizen is teaming up with Koka Booth Amphitheatre to celebrate their 10 seasons of world-class entertainment. Your team can join the celebration and win big prizes and tickets to some of Booth Amphitheatre’s best upcoming events.

Open since 2000, Booth Amphitheatre is a venue unlike any other in the area. Located among 14 acres of trees and beautifully situated next to Symphony Lake, the amphitheater reflects the quality of life we value here in Cary. Festivals like the Great Grapes Wine Fest, the Diwali Festival, the Beer, Bourbon and B-B-Q Festival and the Movies by Moonlight series all celebrate Cary’s arts, lifestyle and diversity.

What better way to celebrate what Cary has to offer than a mad-cap Scavenger Hunt through town! This will be an excellent way to test your knowledge of the landmarks in Cary. Teams will travel around town and will have to think about the variety of sports centers, community centers, arts, businesses, shopping, history and more.

Sign Up Now

Space is limited, so read about the hunt and sign up your team now.

Be a part of Cary history!

What’s so great about Enchanted Oaks subdivision in Raleigh?

clairehanes — Fri, 21 May 2010 01:38:38 +0000

While we at CaryRealEstate.com are focused on the town of Cary, NC and the multitude of wonderful reasons why we LOVE living here…we know there is life outside the town limits…

To that end, I’d like to introduce you to two fantastic reasons to step over to the Lake Wheeler Road/Penny Road area of Raleigh.

2201 Black Willow Court, in Enchanted Oaks, Raleigh, NC-listed by CaryRealEstate.com

First, is the Enchanted Oaks subdivision where we are intimately familiar with this stunning home at 2201 Black Willow Court. Enchanted Oaks’ residents enjoy wonderfully large, private lots. And, there’s a neighborhood pool, clubhouse and children’s playground…all within very easy access to I40 and Rte 401. CaryRealEstate.com proudly lists this home with features like a .90 acre flat lot, huge sunroom, gorgeous hardwoods, all formals and a very large 2 car side entry garage. There’s a large bonus room with it’s own separate staircase and large bedrooms. The kitchen boasts a built in desk nook as well as built-in china/crystal cupboard with it’s own sink for handwashing those delicate dishes. Not only is this home in pristine condition and located in this fantastic neighborhood but it’s also within a 5 minute car ride to the second fabulous find out in this part of Wake County…

CaryRealEstate.com visits Historic Yate's Mill County Park

Historic Yates Mill County Park…this was a new experience for me. I mean, I’ve known for many years that the mill pond was here but I had never taken the time to spend an hour or so poking around…until today. Today was one of those picture perfect Carolina days that just begs you to get outside and DO something!

I’m sure glad I did…and I recommend you do as well. Of course, there’s the old mill building, the pond and a few old mill stones scattered about but there’s sooo much more. There’s a large visitor/educational center, several walking trails ranging in length from about .10 miles to just about a mile. The vegetation and wildlife are abundant. It’s just such a nice place to take a break from the hustle and bustle of a busy day. Here’s a few of the photos I snapped while I was there…

So, I hope you’ll come take a look at 2201 Black Willow Court in Enchanted Oaks if you or someone you know is looking for that perfect next home. And after you visit there, do yourself a favor and take a nature break at Historic Yates Mill County Park just down the road!

Newest Listings – Cary Homes For Sale

David Williams — Mon, 08 Mar 2010 23:56:15 +0000

Here at CaryRealEstate.com we have a new feature for our website – this post will automatically show the newest listings of homes for sale in Cary – homes that have been listed within the past 7 days.

Cary’s Top Selling Neighborhoods – January 2010

David Williams — Thu, 04 Feb 2010 22:24:54 +0000

The Cary Real Estate Market had almost 100 homes go under contract in January – Which neighborhoods sold the most homes?

1. Greystone: 7 Homes Under Contract in January

1. StoneWater: 7 Homes Under Contract in January

3. Harmony: 5 Homes Under Contract in January

What do these neighborhoods have in common? All in West Cary – Priced between $200,000 and $600,000 – All New Construction! That’s right 18 of the 19 home sales in these 3 neighborhoods were new construction! So while the number of homes being built and sold are down from 2006 record numbers, new construction is still alive in Cary North Carolina! Almost 1 out of every 2 homes that went under contract in January was New Construction!!!

More About the 3 Neighborhoods:

Greystone is built by M/I Homes. Price Range: 300k – 500k. Average Price: 360k.

Search Greystone Homes For Sale

StoneWater is built by Lennar. Price Range: 200k – 450k. Average Price: 315k

Search Stonewater Homes For Sale

Harmony is built by Pulte. Price Range: 300k-550k. Average Price 375k

Search Harmony Homes For Sale

Click here to view the embedded video.

FHA Changes-Impact on Cary Homes For Sale

David Williams — Tue, 26 Jan 2010 00:57:44 +0000

David Williams (L) w/ FHA Commissioner David Stevens

Back in December I blogged about possible upcoming changes to FHA loan requirements – well it’s arrived – The FHA recently announced major changes to their requirements for buyers/borrowers. These increased standards could reduce the number of buyers that qualify to purchase Cary Homes For Sale. The changes are aimed at shoring up the FHA’s long term stability – which I think is definitely positive in the big picture/long term - it’s the individual buyers and sellers on a local level, like right here in Cary that will see and feel the impact – anytime the requirements become stricter for securing home loans the available buyer pool is reduced. However one of the major contributors to the recent housing market downturn was buyers purchasing too early or too high. The current FHA commissioner David Stevens is from the real estate industry, having worked on both the mortgage side and brokerage side – I believe he brings a common sense mindset to the FHA restructure.

FHA’s Changes to Borrower Requirements

The upfront fee charged for the mortgage insurance premium (MIP) will be raised to 2.25%
The Seller contribution (closing costs etc) is reduced to 3% instead of previous 6%
To Qualify for a 3.5 % minimum down-payment requires credit score of 580 or higher
Less than 580 Credit Score will require 10% or more down payment
Several new lender requirements aimed at protecting the borrower

Like to read detailed FHA policy? FHA Commissioner David Stevens recently wrote an article covering the FHA changes.

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

New Home in Copperleaf for Past Clients – Our 1st Sale of the Year

David Williams — Sat, 09 Jan 2010 00:02:03 +0000

CaryRealEstate.com is excited about the first sale of the new year. It’s a new construction home in the Copperleaf Community in West Cary. Final contract signatures were obtained today – not a bad way to end the first week of the new year! What makes this transaction super special – I’ve had the pleasure of working with this family on multiple transactions – including their very first home almost 10 years ago. I helped them sell their Cary Park home when they moved away a few years ago – they promised they would return to Cary & sure enough – they’re back! It’s such a cool phone call to receive -

‘David, we’re moving back and without a question you’re our Realtor!”

They choose Copperleaf for it’s proximity to the Research Triangle Park, high quality of local custom builder team, lot sizes and overall quality appeal of the Copperleaf development. The home is priced in the 800’s and is scheduled to be complete early spring.

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

CaryRealEstate.com Makes it Easy for Home Buyers & Sellers

David Williams — Fri, 08 Jan 2010 04:18:43 +0000

At CaryRealEstate.com we’re always keeping our eye out on how to improve our level of service with home buyers and sellers. Most of us enjoy the latest gadget but rarely does something have as much positive impact as docusign. It’s a web based service that allows the creator of a document to send an electronic copy to a recipient and allow that recipient to sign, date, initial etc a document with a few easy mouse clicks. Yes there is a short process to accept/create your electronic signature but it’s super easy.

Worried about security? docusign has their act together – they’re even endorsed by the National Association of Realtors! The system provides multiple levels of security, along with tracking numbers, ip address etc. Yes, the state of North Carolina and the North Carolina Real Estate recognize this type of signature as valid.

Real Life Example of Cary Real Estate making life easier for their clients – last night we were able to send one email to our buyer clients vacationing at Disney – without leaving their hotel room the buyers were able to review 7 different documents (new construction purchase) they electronically initialed or signed every page in just a few minutes – upon completing their signatures the system immediately notified us and we had an executed set of documents, no hunting for the hotel desk clerk / worrying about the business center being closed etc.

We’re able to compose, deliver, receive signatures and file electronically without ever creating the first piece of paper! It’s perfect for offer to purchase sales contracts, buyer agent agreements, listing agent agreements etc!

End Result – it’s easier for our clients, better for the enviroment and allows us to operate more efficiently!

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Builder Deposit vs Earnest Money – What’s the Difference to Home Buyer?

David Williams — Wed, 06 Jan 2010 02:51:53 +0000

Ask Cary Real Estate: What’s the difference between a Builders Deposit and Earnest Money? How do they effect the Home Buyer? Cary home buyers offer earnest money on a re-sale home and a builders deposit on most new construction. Here’s a quick overview of the similarities and differences between a builders deposit and earnest money.

Builder Deposit Defined: Money paid upfront at time of contract directly from prosepctive buyer to the builder. Builder deposits into business operating account. Builder credits buyer the amount of the deposit at closing.

Why?: Builder is building a home specifically for one buyer – making changes, ‘customizing’ the home based on that buyers wishes – the builder wants a level of protection should the buyer not actually purchase the home – to avoid being left with a home that might not appeal to the average buyer.

- Usually Non-Refundable if the buyer walks from the contract - the offer to purchase should specifiy

- How much? sometimes calculated as 5%-10% of the base price of home – sometimes 50% of any ‘add-ons’ buyer chooses.

The amount of builder deposit and how it’s calculated varies with different builders and different stages of construction when the buyer purchases. It’s a negotiable amount but that doesn’t mean both parties can come to terms.

Earnest Money Defined: Money paid upfront by buyer at time of contract. Money is payable to a trust account – most commonly the listing real estate firm or a local real estate attorney’s trust account. Money is credited to buyer at time of closing. If property doesn’t close earnest money may or may not be returned to buyer – depending on circumstances.

Why? It’s a show of good faith from buyer and financially invests them in the purchase – the money can be at risk if buyer does not close.

If Disputed – Can’t be released by trust agent unless both parties agree who is entitled or by court order.

Earnest Money Amount: Cary home buyers usually pay 1% of the purchase price but this is negotiable.

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Cary’s Copperleaf Community New Homes Sales for 2009

David Williams — Tue, 29 Dec 2009 05:31:33 +0000

Copperleaf in Cary – 17 New Home Sales in 2009 – Cary’s Top Selling Luxury New Home Community

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

What to Expect During the Home Inspection, Home Buyer Tips from Cary Real Estate

David Williams — Mon, 09 Nov 2009 08:23:19 +0000

Most buyers really don’t know what to expect during the home inspection. Should they attend? How long will it take? Here’s a few tips to help you be prepared and know what to expect.

Should you attend the home inspection? Yes.

If at all possible plan on attending the home inspection. While it is not required for the buyer to be present during the inspection I’ve found that it helps. You get to see the inspector working and can learn great tips about preventative maintenance items. How long will the inspection last? Typically in the 2 to 3.5 hour range.

When do I pay? How much will it cost? Be prepared to write the inspector a check at the time of the inspection. The cost varies between inspectors and the size of the home – a good estimate is $350 – $500

Expect to sign a home inspection agreement with the inspector. The agreement spells out the inspectors responsibilities etc.

The Home Inspector will be visually inspecting many components of the home, you will see them run the dishwasher, test doors, windows, electrical outlets etc. They will move through the home systematically, making notes of their findings along the way. The inspector will wait to go under the home last (if it’s a crawl space) – having already ran water in the sinks, flushed toilets etc it will be easier to notice a leak.

Remember the home inspector is working directly for you and is not tied to the sales contract in any way. Here’s why that’s important, you may hear the inspector say something like, “The sellers will have to fix that”, not necessarily – while it may very well be a legitimate item that needs repairing, the seller is not obligated to make the repair – how you handle the findings from the home inspection report will depend significantly on terms in the offer to purchase. The best way to handle this is to wait for the written home inspection report and then determine which items are of concern and how to address them with the seller.

Here’s a great way to mentally categorize things the home inspector finds or points out. This is not an official method, if you say to the inspector “Is that a category II finding?” it’s not going to mean anything, it’s simply intended to be a help as you process things the inspector finds.

Category I items: think of these as recommendations – things the home inspector may point out that could be done to improve or extend the life of an item. This is not really something you would typically ask the seller for, just good info to have.

Category II items: minor items, again good to know but not really a substantial reason to be alarmed. For example, a closet door latch needs to be adjusted.

Category III items: in my opinion this is really why you are having the inspection, items you want to be aware of before you decide to close on a home, for example, plumbing leaks, broken heating or air conditioning system, foundation problems etc

With any home (even new ones) the inspector will likely find a number of items to report. It’s important to wait until the end of the inspection and look at the complete findings.

After the inspector is finished they will go over their findings with you verbally, followed by a written report, typically the next day. The written report will show their exact findings along with photos.

Once you have received the written report you can evaluate and determine which items to request the seller to repair. Please remember, usually there will be a date within the offer to purchase contract by which any repair request must be submitted to the seller.

The home inspector is reporting if a particular item or system is working or not – they will typically not get into what would be required to repair the item or the cost to do so.

Remember no home inspector is perfect and they don’t have x-ray vision. A clean inspection is not the same as a guarantee. Something can be working today yet break tomorrow. Depending on the age/condition of the home you may want to consider a home warranty.