Home Buying in 27607>Question Details

Nora, Home Buyer in Raleigh, NC

We are interested in a home inside the beltline in Raleigh, 4 BR or larger, in the 800-900K range.

Asked by Nora, Raleigh, NC Thu Feb 19, 2009

For a variety of reasons, we feel it would be desirable to rent for a year or so, but ideally, we'd like to avoid moving twice. Are sellers of homes in that price range (which don't seem to be moving that fast) interested in possible lease options?

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Answers

13
Kim Saylor’s answer
Nora,
I agree with Tania, we have seen an increase in activity, and sellers realize the market is changing. Showings have picked up tremendously, interest rates are down, and the stimulus package passing is of great help to sellers. The Triangle area was the last to go into this down market but we are the first to come out. This is a good time to lock in before the rates go up, and prices go back to the aprreciation rates we are accustomed to. As the traffic, increases I believe you will see fewer opportunities for lease purchase.
Good Luck!
1 vote Thank Flag Link Thu Feb 19, 2009
Nora,
Every seller has varying circumstances. Determining whether a seller is interested in a lease option would need to be explored on a case by case basis. One thing that we know about the triangle market is that inventory levels decreased by 11% in December and overall levels in Wake County are at 6 months. As showings have picked up, sellers are feeling a little more optimistic and may want to stick with trying to sell their home.
With that said, I would also recommend that you explore all options. Why is it a good time to buy right now? Interest rates and home prices are at an all time low. Mortgage rates have a huge impact on the affordability and monthly payment of your home. In addition, you can qualify for a tax credit of $8000 if you buy by December 1, 2009. Finally, inventory levels suggest that it's a buyers market which means that with the right tools, you can negotiate a great deal. It might be less costly in the long run to purchase rather than lease to buy.
I'd be happy to discuss all options with you. If I can be of assistance to you, please don't hesitate to call me at 919-740-2451.
Best,
Tania
1 vote Thank Flag Link Thu Feb 19, 2009
Nora ~

There are sellers interested in lease to own options. I welcome the opportunity to assist you in finding a home ITB that accommodates your needs. Feel free to call or email me with any questions.

Kind regards,

Molly
919-638-5523
bergmanm@hpw.com
0 votes Thank Flag Link Wed Aug 28, 2013
Hey Nora, I actually can help you find a House. I help homeowners sell their homes thru short sales and therefore can and will help you as a buyer create equity in your first purchase. I currently have about 30 plus homes at which some are mine and some are sellers in a foreclosure. I am an Investor as well so Im sure we can figure something out. Let me know if you need anything else.

Thanks, Jacob Wiggins
919-219-9533-Cell
919-745-1341-Office
jacob.wiggins@gmail.com
http://freeshortsalehelp.weebly.com/
0 votes Thank Flag Link Tue Mar 19, 2013
I have listed and sold homes ITB (inside the beltline) over the years. I understand the market in the area and if I find you a home that you like to purchase or lease option would you like for me to handle this for you? I understand that you do not wish to move twice and I would like to discuss those
details with you to get a better understanding of the reasons.

I am an agent that knocks on doors and cold calls without a hesitation to do so. There have been many occasions when a buyer is interested in a house which is not for sale or even on the market and I have approached the owner and created the scenario which was a win-win ending. I have the reputation for "going the extra mile for my clients" and "I make it happen !"

If you are serious - call me! (919) 782-2417 Home Office or (919) 599-7486 Mobile.
Janet Sher - Broker/Consultant with Raleigh Cary Realty.
0 votes Thank Flag Link Thu Feb 14, 2013
Amswered ealier I have 3 contender that would entertain a lease to buy. Let me know if your interested. Preston@Joeward.net.
0 votes Thank Flag Link Thu Feb 19, 2009
Nora,I can't answer for all sellers but I don't think most would agree to a lease to purchase in the market you are focused on since it has been one of the stronger markets in the Triangle over the past year.This would be a great time to make a purchase from a small builder in that price range ITB as that is what most of the inventory in the $800-$900 K range is,in the ITB.I am very familiar with this area and have sold,flipped and worked with over 10 investors in this area.If you have any questions regarding this market or others,please don't hesitate to contact me.

Regards
Roger Kenney
rkenney@nc.rr.con
919-215-6292
0 votes Thank Flag Link Thu Feb 19, 2009
Hi Nora,

As others have noted before everything is possible in this current economic climate. Each seller is different but if you prefer to lease before you buy you should present that offer and see what transpires. Often the deposit is considerably higher but this can be negotiated among the parties.
I would have your agent research what is currently available on the market and go from there.

Good luck!
Lizete
Web Reference: http://www.LizeteSantos.com
0 votes Thank Flag Link Thu Feb 19, 2009
Hello Nora,

As serveral have already indicated, anything is possible with sellers these days. I have found they are open to suggestions. It's just a matter of finding the right ones. I will be glad to search for homes in the beltline for you, if you would like, just let me know.

Thanks and have a blessed day!
Melissa
melissa.moore55@yahoo.com
0 votes Thank Flag Link Thu Feb 19, 2009
That's certainly a possiblity. I'll check and see if i can locate any.
Graham Baker 919.961.1436
0 votes Thank Flag Link Thu Feb 19, 2009
Nora,

Sellers are becoming more flexible.
A good lease-option contract may be a great way for you to get into a home.

I see some builders offering lease-options on new construction too.

Bottom line:
It may be worth a try, and you won't really know until you go to the Seller and ask!
Web Reference: http://MikeJaquish.com
0 votes Thank Flag Link Thu Feb 19, 2009
Sellers everywhere are open to creative options to sell their homes. Most sellers will require a pre-qualification letter with a plan if there is credit issues that need to be handled.

Also, a larger non-refundable down payment is usually required with lease options or lease purchases.

There are many choices out there both "regular homes" and MANY foreclosures in varying conditions and prices.
0 votes Thank Flag Link Thu Feb 19, 2009
Yes. I personally done several high end lease to purchase. 2 things sellers are looking for in this price range is a pretty sizable deposit in the 10k range and closing to occur within 12 to 18 months and they are generally not interested in lease option but a lease to purchase. Again in general the home needs to be vacant new construction or vacant re-sale for this to work. Let me know if we can help.

Joe Ward
518-8182
Web Reference: http://www.joeward.net
0 votes Thank Flag Link Thu Feb 19, 2009
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