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Home Buying in 27601 : Real Estate Advice

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  • Local Info1
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 170
Fri Jul 24, 2009
Mike Jaquish answered:
I can't answer specificly about this property.
However, broadly speaking, it is a difficult time for sellers at price points above $500,000, due to excessive inventory and difficulty and expense of JUMBO loans.

Some of the days on market for this property can be attributed to the listing being posted as soon as the permits were pulled to commence construction.
For what it is worth, the price of the home has been reduced significantly, and inventory is decreasing since fewer spec homes are being built in the luxury market.
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Wed Jul 22, 2009
Sheri Moritz answered:
You will most likely have a contractor create a bid to know what renovations will cost and they will do an ARV (after rehab value) appraisal as well. From that the list of items you will repair will stem from the contractor bid. Are you working with an agent to help you find a property that will qualify? ... more
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Tue Jul 21, 2009
Sheri Moritz answered:
Those zip codes tend to have a much different price range for the homes that you can get. The final sale price compared to the list price really depends on what the initial asking price of the home is. Homes in the Raleigh market that are priced right under $200,000 typically are selling pretty quick if they are in good condition. There are more foreclosures available in the 27616 zip code than 27614 so you may find you get more home for the money. If you would like any specifics per zip code I would be happy to send you the current homes that are for sale in both of those zip codes so you can compare.

Raleigh has been named to many top lists including best place to relocate, rebound real estate market, best places for finding jobs and more. I have been a top selling real estate broker in Raleigh for the past 16 years selling more than 1500 homes. If there is anything that I can do to help you please feel free to contact me directly through Trulia.
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Sun Jun 28, 2009
Tim Burrell answered:
Go to and it will tell you everything about the schools. You can also look at .
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Thu Aug 6, 2009
Mimi Francis answered:
Hi, Ken - congrats on your decision to move to our area. While it's true our local economy is not as strong as it was a year ago, we're faring better than most areas during the downturn. A report out just this morning forecasts the Triangle area to double in population by 2025! That price range is the higher end of our market and it has activity in that range has softened significantly. Each seller's situation is different, of course, but those that have to sell are feeling the pinch thereby increasing buyer's bargaining power. I'm happy to send info on homes in that range and recent sales activity, if you'd like. We lived in the Northeast for years and the move to NC was a great move for my family - I hope it is for yours, too! ... more
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Tue Jul 14, 2009
Erica McClenny answered:
If you have not signed anything with the other agent, I'd have a nice discussion or email them a letter explaining your feelings and feedback.

If you are under a buyer agency need to consult with an attorney or call the real estate commission for advice. As Realtors/licensed agents we are not allowed to "offer" suggestions to break contractual agreements.

Good luck and just be open with your current agent. They are working for you and maybe they just aren't seeing the big picture and how you're feeling about it!
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Fri Jun 5, 2009
Mike Jaquish answered:

No additional fees.
Often, however, the home needs a great deal more work than similar homes that are not foreclosures.

That can affect the real value of the deal.
0 votes 9 answers Share Flag
Sun Jun 21, 2009
Sheri Moritz answered:
Thu Jun 16, 2016
Michael Colvin answered:
Hi Katneez
I have been selling Real Estate here for years and have not experienced any? If you give me some info for what your needs are I would be happy to send you some properties.
Michael ... more
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Tue Jul 21, 2009
Craig Fox answered:
In general, inspections are always a good idea, even for new construction. However, there isn't likely much a septic inspection is going to tell you. If you want to be completely safe, get one. If you are willing to risk a very unlikely problem with the system, don't bother. ... more
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Sun May 10, 2009
Dana Schuster answered:
Your Section 8 voucher is a rental subsidy. it is a program to assist low income people in renting homes.
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Mon Apr 6, 2009
Lizete Santos answered:

It sold on 3/ 27 for 540K w/ a concession of $460 (probably a home warranty).

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Fri Apr 10, 2009
Lizete Santos answered:
Hi GF,

There is the 8K tax credit available for first time home buyers ( anyone who has not owned a home in 3 years).
The first thing you should do is speak with a lender and ascertain how much house you could afford.
Here is one that you can contact:
Kevin Martini
SunTrust Bank

Good luck!
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Fri Mar 27, 2009
Voices Member answered:
Mark, Give this a try it is all based on the public county records and can be broken down into neighborhoods or zip codes.....

Good luck, Dunes ... more
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Thu Mar 5, 2009 answered:
I hope for your sake that they do, but you'd better be prepared to dealy things. No one will be able to give you a definite yes or no, except the lender. Cross your fingers, but prepare for a delay. ... more
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Fri Mar 6, 2009
James Gordon ABR SFR SRS answered:
Mary you have run into the main problem with dual agency. Who do you represent? That is why I will not do dual agency.

Good luck with this one you need to make your attorney aware of what is going on and document everything. ... more
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Thu Mar 19, 2009
Yelena Tsuladze answered:
Hello! I am not is NC, but in NJ. My personal professional opinion, that you should make any offer even if it is a low-ball offer. If sellers are motivated they will talk with you (I think sellers don't reduce price more because they don't want to be "bad guys" in the neigborhood), if not, this is their problem, not yours. Today's market is the buyers market. You are the boss!
Yelena Tsuladze
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Mon Feb 8, 2010
Melissa Albert answered:
Hello Taylor,

It's totally up to you about looking at foreclosures, but they may take longer to close, but you may also find a great deal that fits all your needs. I take it you wouldn't mind a fixer upper? What area are you looking to live?
I would be glad to provide you with foreclosures on the market once I have more details.

Thanks and have a blessed day!
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Wed Aug 28, 2013
Joe Ward answered:
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
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Wed Mar 4, 2009
Mike Jaquish answered:
Yes, it is fair enough to offer what the seller paid.
It may not be a realistic offer, since what the seller paid is not a determining factor in setting a price.

Tax value is not a good guide, since it is done en masse and often is highly inaccurate.
The value is mostly related to what similar, "comparable," homes have been selling for.
Good comps will consider the lot size and condition of other homes, and the value trends and recent sales prices in the neighborhood.
You should be building a value from comparables, rather than the seller's purchase price or tax value.
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