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Chapel Hill : Real Estate Advice

  • All181
  • Local Info17
  • Home Buying67
  • Home Selling5
  • Market Conditions13

Activity 159
Mon Oct 1, 2012
Wlliam Thompson answered:
I am an investor. Is this still available?

Thanks,

Bill Thompson
williamandvivian@gmail.com
919-886-5250
0 votes 3 answers Share Flag
Sun Sep 16, 2012
W Somers answered:
Owner Financing or Subject to existing loan Financing

I own a number of rental properties in Utah and Colorado, and we have done subject to existing mortgage financing on
some of them when we have sold them.

Basically the new owner takes over our payment to our mortgage company, and we hold the paper until they get new financing in 5 years or so.

We do this through a special escrow company who pays the mortgage, taxes and insurance so we are assured everything gets paid. We get 20% down.

Is this done out here in North Carolina? It has been a win/win for us and the buyers in Colorado and Utah.

I find some agents don't suggest this to their clients, even if their house is not selling. If anyone is interested in owner financing or something like this- or has a client who is.. let me know.

landlorddiva(at) gmail.com
... more
0 votes 3 answers Share Flag
Fri Sep 14, 2012
Faye Kamrani answered:
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
Wed Aug 22, 2012
Annette Lawrence answered:
Catherine,
You can get a look at such information here on Trulia.
On the property page, scroll down to the section titled:
LOCATION INFORMATION
-
The 3rd tab over is labeled CRIME.
=
Now the really hard question is, "Whose numbers do you trust?"
Your real estate professional will be able to direct you to the local source of reliable data. Some of those resources is presented by the local professionals who have responded from Chapel Hill.

Annette Lawrence, Broker/Associate
Remax Realec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
... more
0 votes 4 answers Share Flag
Fri Aug 17, 2012
Gary Wolgast answered:
I just decided to refinance and rent the property. It seems like the least painful option at this time.
0 votes 4 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
Mon Jun 25, 2012
John Goddin answered:
Hi Psizzle,

I am a Chapel Hill agent as well and would welcome an opportunity to discuss helping you find a place. I offer buyer's agent programs that I think are unique in this area in that I work with my clients up front to determine the scope of the services they need and structure my fees based on that. This will typically result in a commission rebate to the buyer since the amount of commission built in to the price of most listed properties is usually larger than my fee. Contact me if you are interested in more information on how this works.

John
... more
0 votes 5 answers Share Flag
Mon May 21, 2012
Desiree Goldman answered:
The Triangle is known for its excellent healthcare.

In Chapel Hill your choice would be UNC Hospital. They are building a new facility in Hillsborough.
In Durham you have Duke Hospitals and Wake County you have REX.

The area has a reputation for being the leader in cancer treatments and many other specialties.

Please let me know if you have any other questions.
... more
0 votes 4 answers Share Flag
Fri May 11, 2012
Andrew Stults answered:
I know of one three bedroom townhouse on Nolen Lane. It is priced at $2350/mo. Call 919-423-0225 for info on that. I've heard talk of a Westside listing, also a 3 BR townhouse, at $2100, but haven't seen the listing. Both would be about 2300 SF. ... more
0 votes 2 answers Share Flag
Fri Mar 9, 2012
Tracy Santrock answered:
There is a new Active Adult Community by Pulte Homes called Duraleigh Arbors that will be central to Duke University. It will be a signature Del Webb community. Pulte will be breaking ground Q32012 with first move-ins Q12013. See the link below for additional details. ... more
0 votes 3 answers Share Flag
Mon Mar 5, 2012
Barrett Powell answered:
More than just RTP expansion. My team and I were involved in many of the land transactions that created this development. What do you want to know?
0 votes 6 answers Share Flag
Mon Feb 27, 2012
Oleg Polonsky answered:
Your agent will be very happy with a positive reference, and hopefully your business relationship with him/her will go beyond just one transaction. What would be helpful is if you describe specifically what you liked about this agent ahd how he/she acted to resolve the challenges that came along the way. ... more
0 votes 9 answers Share Flag
Mon Feb 27, 2012
Tracy Santrock answered:
Chatham County taxes are lower if you are in the County and not in Pittsboro. However, most people don't realize that Cary has a section that is in Chatham County and the taxes are less than 1%. Just something to consider. ... more
0 votes 8 answers Share Flag
Wed Dec 28, 2011
Mark Civiok answered:
No, you cannot go around the listing Realtor to buy the condo directly from the owner, and it is better for you to find another Realtor to help you make the purchase. By working with a Buyer's Agent you will be more protected in the process, will likely buy at a better price, and it won't cost you anything. Most any Realtor will be happy to represent you in the purchase, so find one you like and trust and make your offer ASAP if you are certain that this is the property you want. The longer you wait the greater the risk of another Buyer competing with you, and the cost goes up. If you have more questions you can check out www.TarHeelHomes.com or call me at 919-960-6332. ... more
0 votes 15 answers Share Flag
Thu Oct 13, 2011
answered:
You might consider the Oaks condos or Wilshire Condos. If you want warehouse, downtown living, you will need to go to Durham or Raleigh. I can especially help you get familiar with downtown Raleigh if you are interested. ... more
0 votes 3 answers Share Flag
Wed Sep 7, 2011
answered:
Nehemiah no longer directly offers down payment assistance.

The type of down payment assistance Nehemiah offered was called "seller funded" or "private funded" down payment assistance, where the money for your down payment actually came from the seller of the home. The seller would agree to pay Nehemiah X amount upon the sale of their home, that same X amount was the buyer's down payment which Nehemiah would provide at the closing table. The issue was that in a lot of situations this would result in an increased sales price, because if the seller is paying for the buyer's down payment they would want to increase the sales price in the contract by that same amount so the "net" is the same to them. So, back in October 2008 Congress passed a bill that prevented that type of down payment assistance.

Nehemiah Corp. didn't stop trying to help homebuyers with down payment assistance though, they actually have a nice searchable database of down payment assistance programs all over the U.S. which you can find at: http://www.ncf-wep.org/services-and-resources/down-payment-assistance-dpa-search.html

Those down payment assistance programs have income limits, often require someone to be a first time homebuyer, funds aren't always available, and other restrictions, but that's the norm for down payment assistance - it's only for those who the assistance providers have deemed could "need" it and not everyone.
... more
0 votes 1 answer Share Flag
Tue Sep 6, 2011
Thomas Bohlmann answered:
May wish to check the Zoning, Build restriction of the community, and HOA Covenants BEFORE YOU BUILD.

Good luck
0 votes 2 answers Share Flag
Mon Apr 11, 2011
Bill Eckler answered:
Zhong,

Every location has some sort of natural issue with which residents must have an awareness. hurricanes, floods, tornadoes, earth quakes, drout, fires, mudslides, severe cold, lightning, and the list goes on and on......rendering the perfect location.......endangered!

Bill
... more
0 votes 7 answers Share Flag
Wed Mar 2, 2011
Patricia Roberts answered:
I am currently building a house in Orange County NC. We met with the Schumacher Homes people. I was not impressed, we had to meet with them several times for them to get information together for us. Once we started added custom features(ones that they would allow) to the house the house costs were then very similar to a custom builder. Hope this helps. BTW, right now, MUCH cheaper to buy and not build. I alreaydy own the land where I am building... ... more
0 votes 2 answers Share Flag
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