Home Buying in Morrisville : Advice

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Gail Ferri, Real Estate Pro in Cary, NC
Gail Ferri answered:
Is it normal the appraisal of a house is $10k lower than the purchase price in Morrisville, NC? Do you have any suggestions regarding the difference?
If the house is listed with the correct sales price, then the appraisal should come in at the sales price or above. However, sometimes you can run into an appraiser that is not local to ... more
0 votes Share Flag Thu Aug 15, 2013 Home Buying in Morrisville
Mike Jaquish, Real Estate Pro in 27513
Mike Jaquish answered:
Does rent to own properties exist or is this a home buying scam? How would a potential home buyer find properties offering this option?
Think scam. They are set up to benefit the seller, not the tenant/buyer.
You can look on Craigslist.
Do not get into a rent-to-own without hiring an attorney to write the contract. ... more
0 votes Share Flag Wed Oct 2, 2013 Home Buying in 27560
Keith Bliss, Real Estate Pro in 27519
Keith Bliss answered:
What would be the assigned elementary and middle school be for this community?
Hi Raji.... All the schools in the area are based on a specific property address. There can be two different school assignments in the same neighborhood. Your best bet would be to click ... more
0 votes Share Flag Wed Feb 6, 2013 Home Buying in Kitts Creek
Mike Jaquish, Real Estate Pro in 27513
Mike Jaquish answered:
Is there special financing available for buying foreclosed or short sale properties? i.e. smaller down payments, etc?
Yes, however, they are the same programs that are available for any other property.

Hook up with a good lender who knows how to explain the variety of programs available, and you wil ... more
0 votes Share Flag Thu Oct 10, 2013 Home Buying in 27560
John Goddin, Real Estate Pro in Chapel Hill, NC
John Goddin answered:
It seems like homes in Morrisville are hard to sell and depreciating in value?
Many builders are offering very good deals on new homes right now. Given the aggressive pricing and low interest rates, it seems to me to be a very good time to buy if t you intend to b ... more
0 votes Share Flag Sat Oct 20, 2012 Home Buying in Morrisville
Larry Tollen, Real Estate Pro in Durham, NC
Larry Tollen answered:
Exclusive Buyers Agency Agreement
If you're the LLC (Buyer) there are no special precautions you would have to take. I've bought and sold many properties as an LLC and it has no impact other than with your lender. Betwe ... more
0 votes Share Flag Wed Oct 2, 2013 Home Buying in 27560
Larry Tollen, Real Estate Pro in Durham, NC
Larry Tollen answered:
What's going on at Four Seasons Renaissance by Hovnanian located on Page Road in Durham? It appears to be stalled, and few are buying.
Ashton

I don't work for K. Hovnian so I can't claim to have any particular insider knowledge, but here's my thoughts. To begin with it's a niche product; you must be 55 or older to p ... more
0 votes Share Flag Sun Jun 24, 2012 Home Buying in 27560
Mike Jaquish, Real Estate Pro in 27513
Mike Jaquish answered:
if there is no time being the essence on the contract, both parties couldn't find agreed on the amendment, can seller back out the contract?
This is a contractual matter you should discuss with an attorney to get their legal opinion.
No one here can give you a qualified opinion without knowing more detail than you can or sh ... more
0 votes Share Flag Sun Jun 24, 2012 Home Buying in 27560
Sergio Herna…, Real Estate Pro in Naples, FL
Sergio Hernandez answered:
What are the disadvantages of buying without an agent? I have already checked the neighborhood prices and zerrowed in on the community.
Making very expensive mistakes that could have been avoided is probably at the top of the list.
0 votes Share Flag Thu Mar 29, 2012 Home Buying in Morrisville
Mark Pelshak, Real Estate Pro in Morrisville, NC
Mark Pelshak answered:
Any opinion on Weldon Ridge?Would Yates Store Road likely to get busy once land south of Weldon Ridge is developed?
Mike,

I don't know if this helps but you might check out this link http://www.townofcary.org/Assets/Planning+Department/Maps/Southwest+Area+Plan+Map.pdf

or the town of Cary& ... more
0 votes Share Flag Wed Jun 20, 2012 Home Buying in Morrisville
Joe Matthews,…, Real Estate Pro in Cary, NC
Joe Matthews, MBA, ABR, CRS answered:
Is it true that the Providence Place subdivision is built on a cemetary?
It is not built 'on' a cemeteray, but there is a small cemetery in the neighborhood - they are not building on top of that, the sales person should be able to point that out o ... more
0 votes Share Flag Wed Feb 9, 2011 Home Buying in Providence Place
Ron Rovtar, Real Estate Pro in Boulder, CO
Ron Rovtar answered:
I went to look at a new community out of curiosity, too late for a buyer's agent?
Sometimes builders will not pay a commission to a buyer's agent if you visited the property and signed in without indicating that you have an agent. However, builders are having m ... more
0 votes Share Flag Sun Sep 12, 2010 Home Buying in Church Street Townes
Dan Chase, Home Buyer in Texas City, TX
Dan Chase answered:
I am a first time homebuyer and am looking to buy a new townhome. The community I'm interested in I have already visited and filled out a guest
You can ask for anything you want. You can offer anything you want. What the builder will agree to is a different story.

Their agent may think a realtor had to be with you. But what ... more
0 votes Share Flag Wed Jun 16, 2010 Home Buying in Morrisville
Richard Leci…, Real Estate Pro in Tucson, AZ
Richard Lecinski answered:
Most houses on Breckeridge built/sold in 2001-2003 were $200'sK. Now sellers are asking $270K for these while new homes are built at $K220-240,
You really need current comps to give you detailed information so you can compare
0 votes Share Flag Thu Oct 10, 2013 Home Buying in 27560
Mike Jaquish, Real Estate Pro in 27513
Mike Jaquish answered:
Is it common for a home to be appraised for the exact amount of the purchase price in the current market in Morrisville?
Sure.

Especially if everyone did their homework.

If the home was overpriced, the appraisal may come in low.
If sales price is well supported by market activity, i.e., comparable ... more
0 votes Share Flag Tue Jun 19, 2012 Home Buying in 27560
Joseph Domino, Real Estate Pro in Scottsdale, AZ
Joseph Domino answered:
Want to walk away from house contract.
You need to read your contract to determine if there are any contingencies that may allow you to escape without losing your down payment. Unfortunately with builder contracts there are ... more
0 votes Share Flag Thu Mar 18, 2010 Home Buying in Morrisville
greg, Real Estate Pro in Boston, MA
greg answered:
Do townhouses depreciate with their age? Or is more like they appreciate slower compared to newer ones?
This is a tough question to fully answer as real estate in general historically "appreciates". Nonetheless the foremost point with respect to depreciation and value is LOCATIO ... more
0 votes Share Flag Sat Feb 20, 2010 Home Buying in Morrisville
Bo Bromhal, Real Estate Pro in Raleigh, NC
Bo Bromhal answered:
In built up community like Twin Lakes in Morrisville, what happens towards the end of the age of a home?
Roulette-

Many townhouse HOA's cover the cost of roofing and siding in order to maintain and ensure the appearance of the units. The cost is shared among all the owners, and th ... more
0 votes Share Flag Sun Feb 21, 2010 Home Buying in Morrisville
Jim Laudate, Real Estate Pro in Cary, NC
Jim Laudate answered:
Whats the general public perception on 3 storied town houses? Whats an average appreciation rate for a property in Morrisville?
Three story townhomes offer more square footage in the same space. Designs offer the first floor with a garage and family/bedroom. Another plan offers the living on the first floor with ... more
0 votes Share Flag Tue Feb 9, 2010 Home Buying in Morrisville
Reginold Jon…, Real Estate Pro in Cary, NC
Reginold Jones answered:
How does Providence Place townhomes compares to Stonewater (Lennar) townhomes in Cary in terms of resale value, location etc.?
As far as resale, considering that both neighborhoods are relatively new, resale is going to be hard to determine without history to analyze. What I can tell you is that median townhom ... more
0 votes Share Flag Tue Dec 22, 2009 Home Buying in 27560
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