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27514 : Real Estate Advice

  • All16
  • Local Info2
  • Home Buying7
  • Home Selling3
  • Market Conditions0

Activity 12
Wed May 24, 2017
David.nevers907 answered:
can the seller back out when we have them under contract??? we just paid a huge amount of money for a home inspection
0 votes 10 answers Share Flag
Wed Jul 20, 2016
Kathy asked:
design? Want to maximize my mortgage appraisal (land home = appraisal value)
EX; # of bedrooms/corresponding closets, laminate vs. carpeting, loft vs no loft, covered porch.
0 votes 0 Answers Share Flag
Mon May 4, 2015
Kirsten Prizzi 239-248-1667 answered:
Susan, check your MLS listing input first, maybe you or administrator missed to put a check mark at this particular option. If it doesn't show contact Trulia or input yourself by click on the option add listing. ... more
0 votes 1 answer Share Flag
Wed May 21, 2014
Vivian Olkin answered:

I am surprised that you haven't received many responses. I own and manage my own properties except for some I bought in a transitional area of Durham. I've sold several that I owned in Chapel Hill and Carrboro, doing a 1031 exchange right now--selling in CH, buying in Durham. I live in Chapel Hill and find the opportunities in Durham to be more favorable than Chapel Hill/Carrboro. However, if you want this area and are willing to pay the premium, there are some opportunities.

I work with investors, though prefer to stay away from those who have unrealistic expectations about price. The days of great prices and low-ball offers are over. That doesn't mean you can't get a good deal, especially if you are willing to upgrade properties. I almost always upgrade my properties to get good tenants, and it works.

Who doesn't have experience with short sales and foreclosures these days? I am willing to do short sales if you understand that it is a very slow process, and the number of short sales is greatly reduced. There are hardly any in CH/Carrb--same for foreclosures. The number in Durham has also gone way down, and many go to owner occupants before ever being available to investors.

I do not have as much experience with financing outside of banks/mortgage brokers. I know that hard money lenders are out there, though I don't have access to them

If you are interested, let's talk.

Vivian Olkin, aka CrazyViv
... more
0 votes 1 answer Share Flag
Thu Jan 30, 2014
Ed Billings answered:
Certain locations within Chapel Hill are known for having a history of soil movement, while others are know for being "rock solid". If you suspect their may be a foundation issue, I've found the best course of action is to get an independent structural engineer to evaluate the situation. If there is no issue, they will issue a letter stating as such, which will give you peace of mind and assist you when you go to sell your home, down the line. If a remedy is required, they will determine the course of action and sign off on the repair.

I hope this helps.
... more
0 votes 12 answers Share Flag
Mon May 13, 2013
Todd Neal answered:
I own several student rentals and have at different times lived temporarily in them between tenants. It varies by neighborhood but you cant count on this:

Students pay a premium per bedroom and so near campus housing costs more per feature than houses further away. If you are renting, you will pay more if you are near campus. If you are buying, you will pay more for less.

Living near campus means living near a concentration of restaurants and stores all in walking distance.

The area between the Northside and Carrboro is the epicenter of development in our town, per the planning departments increased density design, and it is expected that more non-students will live near campus.

If you want to walk to services and are easily bored move uptown and coexist with students.
... more
0 votes 7 answers Share Flag
Wed Aug 22, 2012
Christy Kimbro answered:
Hi Kelly, I hold a real estate broker's license as well as an auctioneer's license with AuctionFirst NC. A discerning piece of info with regard to whether to AUCTION versus a CONVENTIONAL sale has to do with the amount of equity you have in the property. This is key. It is important to know that though a Seller pays NO COMMISSION via the auction method, the Seller is responsible for up front marketing fees that generally equate to 1-1.5% of the Seller's "reserve price" (lowest acceptable offering price). 91 619-7347 ... more
0 votes 8 answers Share Flag
Fri Jun 29, 2012
John Goddin answered:
I would start with the other family members and see what they want to do with the property. If everybody wants to cash out, you sell all of it and split the proceeds. If one or more want to stay in the property, see if they are interested in buying out your share. If they are not interested in buying you out, you may be able to force the issue, but will need an attorney to advise you on that. You will probably need an attorney no matter what to make sure all paperwork is done correctly, an appraiser to place a value on the property if that has not been done recently (may have been done as a part of settling the estate) and an accountant well versed in these types of situations to minimize tax consequences. If the decision is to sell one or more properties to a third party, a good real estate agent will also be needed. Feel free to contact me if you need help. I have worked extensively with rental property and investors in this area for 28years and own investment property of my own, so am well positioned to give you good advice. ... more
0 votes 6 answers Share Flag
Fri May 8, 2009
Rebecca Neighborgall answered:
1% is a rule of thumb, but it can vary depending on how your contract is designed. A buyer's agent ,who represents your best interests, will be able to help you negotiate the contract which would include how much the earnest money will be. Do you have an agent representing you?

Best of Luck,

Rebecca Neighborgall
... more
0 votes 9 answers Share Flag
Sun Feb 15, 2009
Stanton Homes answered:
Here's an explanation of how to use the Orange County property tax site. Property tax depends on assessed value, not purchase price.

Here is a table with the most recent rates.
... more
0 votes 1 answer Share Flag
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