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 the area. That can happen with a lender who is not local to the area either. If an appraiser has worked this area a long enough time, then he should be familiar with the neighborhoods, and there shouldn't be a problem. You never really want an appraisal to come in lower than the sales price, because it makes it difficult to get a loan.... more
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. And many attorneys will not write those contracts, since so few rent-to-owns ever result in a closing.
If the seller tells you that you don't need to have a home inspection, appraisal, title search, attorney, property survey....Run Away!
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 on the link below and type in the address your interested in. Hope this helps!
The Bliss Real Estate Group
115 Dry Ave
Cary, NC 27511
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 be in the area for several years. I offer buyer agent services for new home buyers that can provide you with a significant commission rebate at closing, which can help keep your costs down. I am happy to discus this in detail with you.
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. Between you and your broker it no different than if you were buying under your own name.... more
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 purchase in this development as it was designed specifically as an active adult community. Currently they have 11 homes on the ground 2 of which are under contract. In terms of building more my guess is their lender won't permit it until a few more are sold. This is very common in today's environment and lenders are anxious about letting builders get to far ahead of themselves.
These active adult communities are a relatively new product here in the Triangle. There are half a dozen or so, and all came into being within the past 5 or 6 years as far as I know, Over the next 3-5 years I personally believe you'll see some others and it's not uncommon for newer market concepts to take a little time to catch on.
The homes and townhouses themselves are very attractively priced and offer what I think is excellent value, and while very conveniently located in many ways I wondered from the beginning if the proximity to RDU might have a negative impact on their sales as buyers may have concerns about flight noise.
If you are interested, I'd be happy to assist you in finding a great home. You can find out more about me here on Trulia by checking my profile or by visiting me website.... more
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 should divulge on a public site.
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 on their map displayed inside the center.
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 much trouble these days and tend to be very cooperative if it means another sale. If you make it clear to the builder that your reallllly want an agent to represent you, there's a good chance the builder will see it your way.
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 if your realtor was sick and you went anyway? What if your agent was busy and you looked before bothering them? There are many different reasons a realtor might not be with you even if you had a realtor already.
I would ask a local realtor or agent what they think.
I would also offer low. You never know what a builder will do until you try. If they do not agree seeing you walk away could change their mind.... more
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 usually not too many.
Maybe you should concentrate your efforts on finding a new project that will keep you working. This way you will have the best of both worlds. A good job and a new home.... more
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 LOCATION...LOCATION...LOCATION...
That being said, despite the physical property, the demand (or lack thereof) actually determines appreciation and depreciation. Age can play a role as other factors due, but location is king.
Your local Realtor can give you specifics on your local market.... more
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 the money is built up over time through "reserves" which are included within the regular monthly dues. If either the cost exceeds the budgeted amount, or the HOA has not gathered sufficient reserves, then there is often an assessment to cover the cost. For an oversimplified example, let's say reserves were $6,000 per unit, but the cost was $7,000. Each unit would be assessed $1,000. This would be payable either as a lump sum, or often over a period of 2-3 years.
For a community like Twin Lakes, this would be many years from now. I have some clients who bought a new townhouse there 2 years ago, and so far they have been pleased with the quality of the construction.... more
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 a large master suite on the top floor. Appreciation rate can be discussed with your buyer's agent.If you don't mind climbing stairs they offer a lot of space. Let me know how I can be of help.
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 townhome sales in the Morrisville area based on 3 bed 2 bath minimum; built in 2008 or younger are as follows: 1st quarter 2009=234,725, 2nd quarter 2009=$192,030 ( 7 total sales and 2 over 200k) 3rd quarter 2009=$205,880 (24 sales and almost half were built in 2009) . What this tells me is that consumer and builder confidence is building due to the increased new construction sales in the 3rd quarter. I would be glad to speak with you further about other things that come into play with resale such as school and community info. Let me know if I can help... more