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	<title>Raleigh NC Real Estate</title>
	<link>http://raleighncrealestatemls.com</link>
	<description></description>
	<pubDate>Wed, 01 Sep 2010 15:21:34 +0000</pubDate>
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		<copyright>&#xA9;Michelle Edwards </copyright>
		<managingEditor>raleighn@raleighncrealestatemls.com (Michelle Edwards)</managingEditor>
		<webMaster>raleighn@raleighncrealestatemls.com</webMaster>
		<category>Real Estate</category>
		<ttl>1440</ttl>
		<itunes:keywords>Raleigh North Carolina, Raleigh Real Estate</itunes:keywords>
		<itunes:subtitle>Raleigh Realtor</itunes:subtitle>
		<itunes:summary>Raleigh Real Estate Michelle Edwards</itunes:summary>
		<itunes:author>Michelle Edwards</itunes:author>
		<itunes:category text="Business"/>
		<itunes:owner>
			<itunes:name>Michelle Edwards</itunes:name>
			<itunes:email>raleighn@raleighncrealestatemls.com</itunes:email>
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		<item>
		<title>Tight Budget&#8230;BUT Need to get your house ready to sell?</title>
		<link>http://raleighncrealestatemls.com/277/tight-budgetbut-need-to-get-your-house-ready-to-sell/</link>
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		<pubDate>Wed, 01 Sep 2010 15:21:34 +0000</pubDate>
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		<category><![CDATA[Raleigh NC Real Estate]]></category>

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		<description><![CDATA[
Painting Key Features of Home Exterior an Affordable
Remodeling Option
August 27, 2010 

A little ingenuity can go a long way towards giving your home a beautiful facelift, without breaking the bank, says Debbie Zimmer, paint and color expert with the Paint Quality Institute.
Most of the time and cost of repainting is spent on the walls. Yet, [...]]]></description>
			<content:encoded><![CDATA[
Painting Key Features of Home Exterior an Affordable
Remodeling Option
August 27, 2010 

A little ingenuity can go a long way towards giving your home a beautiful facelift, without breaking the bank, says Debbie Zimmer, paint and color expert with the Paint Quality Institute.
Most of the time and cost of repainting is spent on the walls. Yet, on most homes, the walls are basically a canvas against which the more interesting architectural elements are showcased: the doors, shutters, accents, and trim.
That is where the eye goes when looking at a home. It also is where you may want to invest your precious remodeling dollars"assuming that your whole house isnt screaming for a paint job.
To make the most of your efforts, take time to think through your home beautification project. Walk around your neighborhood, see which color combinations you like on homes similar to yours, and note how others have used color to highlight their homes best features.
Then, look at your own home from the curb or across the street. Identify the elements that are most interesting maybe you have an unusual front door or entryway, or maybe some of the fretwork or trim is especially ornate. Painting those areas will provide the most bang for your buck in terms of aesthetics, says Zimmer.
Next, make a visit to your local paint retailer or decorating center and select color cards that resemble the hues you liked on your neighbors homes, or that you find especially appealing. When you get the cards home, envision those paint colors on your homes special features.
To draw more attention to certain architectural elements, you might want to paint them in a bold color or one that contrasts with your walls. On the other hand, painting your doors, accents, and trim in a tint or shade that is muted or complementary to your walls may give your home a more subtle, dignified look. Either way, a fresh coat of paint on just a few areas will add plenty of style for a modest investment.
Even if you are painting only a few of your homes exterior features, you should still follow four basic rules to get the best results, according to Zimmer:
Rule #1: Take time to properly prepare the surface. Before doing any painting, make sure it is free of dirt and chalk. Since you wont be painting the whole house, you can simply scrub the surfaces by hand using plain soap and water, then rinse thoroughly. Next, remove any loose, flaking, or peeling paint by scraping, sanding, or wire-brushing. Finally, brush off the dust and get ready to paint.
Rule #2: Use top quality exterior paint. If there is one rule that you dont want to violate, this is it, says Zimmer. For almost all exterior paint projects, the best paint to use is a top quality 100% acrylic latex paint.
It may cost a little more, but this type of paint has superior adhesion, so it will grip onto the surface tenaciously. That, in turn, will help prevent blistering, flaking, and peeling in the future. And since 100% acrylic latex paint is also flexible, it will help prevent paint failures in a second way by expanding and contracting with the surface below when outside temperatures rise and fall.
Rule #3: Use high-quality brushes and tools. Painting with high-quality tools will make it easier to apply a thicker, more uniform coat of paint to produce a better-looking paint job. Brushes should be springy and well-balanced. When working with latex paints, be sure that your brushes and rollers are made of synthetic materials, says Zimmer; these will tend to hold their shape regardless of the amount of water they are exposed to.
Rule #4: Paint in the right weather conditions. Doing your painting in moderate conditions will help the paint form a tough, protective film that will keep your architectural elements looking freshly painted for years to come.
Ideally, you should paint on a day that is not too windy, when the temperature is between 70 and 85 degrees. It is also best to avoid painting surfaces when the sun is beating down on them"surface temperatures can be up to 20 degrees hotter than air temps, and that could adversely affect the paints film formation.
Source: Business Wire
Publication date: 2010-08-17
For more ideas on affordable remodeling with paint, visit the website of the Paint Quality Institute at www.paintquality.com.
Read more: http://www.houselogic.com/news/articles/painting-key-features-home-exterior-affordable-remodeling-option/#ixzz0yI8JFT3R
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		</item>
		<item>
		<title>Homeownership: It’s About Value, Freedom, and Mowing</title>
		<link>http://raleighncrealestatemls.com/275/homeownership-it%e2%80%99s-about-value-freedom-and-mowing/</link>
		<comments>http://raleighncrealestatemls.com/275/homeownership-it%e2%80%99s-about-value-freedom-and-mowing/#comments</comments>
		<pubDate>Mon, 23 Aug 2010 16:08:02 +0000</pubDate>
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		<category><![CDATA[Raleigh NC Real Estate]]></category>

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		<description><![CDATA[
Homeownership: Its About Value, Freedom, and
Mowing
August 22, 2010 

By Peter St. Onge, The Charlotte Observer, N.C.
Aug. 22"So, says the editor, were looking for someone to make a case for homeownership over renting. You know anyone whos purchased a house recently?
That would be me"if you want someone who just sweated through trying to sell a home [...]]]></description>
			<content:encoded><![CDATA[
Homeownership: Its About Value, Freedom, and
Mowing
August 22, 2010 

By Peter St. Onge, The Charlotte Observer, N.C.
Aug. 22"So, says the editor, were looking for someone to make a case for homeownership over renting. You know anyone whos purchased a house recently?
That would be me"if you want someone who just sweated through trying to sell a home in the worst housing market ever, then fretted through a short-sale bank approval on the house we were buying, and now is waiting for two gutter repairmen and a crawlspace moisture expert to call back.
Buying a home? Maybe I can defend something a little less risky, like off-track betting.
Homeownership has taken a justifiable beating lately. Housing prices have tumbled and sales are still declining. Markets are glutted with foreclosures from people who borrowed too much or lost a job and were unable to sell. And while your friendly Realtor will happily tell you about the opportunities this strife creates, buying a home for its appreciation possibilities is still an iffy venture, especially if you cant or wont give the market time to find its long-term footing.
But if you are looking for a place to live a while"and not a property to flip"buying remains the option that gives you both value and, yes, freedom.
Lets strip away the big picture for a moment. Its trendy to blame homeownership for the financial mess were in, but thats like saying that eating leads to obesity. Its not the act that causes the problem. Its how poorly you do it"and banks and borrowers engaged in loans they shouldnt have.
But for most of us, owning a home still makes financial sense. Lost in the pop of the housing bubble is some simple math: If you rent, you write a check and never see that money again. If you buy, and youre prudent and patient about it, you probably will.
Its called equity. If youre paying $1,000 a month in mortgage on a standard 30-year fixed rate loan at, say, 5 percent interest"then $2,700 of those payments goes toward the principal of the loan in the first year. That means if you sell the home, you have to pay the bank $2,700 less than the amount you borrowed. The next year youll add $2,900 more to that total, and that annual number will go up each year. Plus, the interest you pay is often tax deductible.
If you rent, not only do you get less value by often paying more per square foot than homeowners, that hypothetical $1,000 each month is gone.
And for those renters who point to the supplementary expenses that come with homeownership, such as property taxes and insurance? If you believe your landlord isnt passing those expenses on to you, then you probably think the car dealer really did throw in those floor mats for free.
Same thing for those household repair costs renters think theyre avoiding. Not only will you eventually pay in rent for the air conditioner that broke in your apartment, youre also probably paying for part of the unit that died in one of your landlords other properties.
But beyond the repairs you have to do, the value of homeownership comes from the changes you want to make. If your carpet is worn or merely ugly, you dont need permission to improve the place you live. You dont have to split the cost for something thatll raise the value of someone elses property. You dont have to worry that the landlord might subsequently cut corners with inferior workers or materials.
If youre a tinkerer, you might be able to do some of these things yourself, which not only will improve your homes value but make it a more personal investment. Owning a home, however, does not bring a lifetime sentence of fix-it-ups. If, like me, youre not such a handyman, you can mow your lawn and call it a weekend. Its your choice.
And choice is what homeownership brings. You can choose a neighborhood or street where you can put down roots without having to worry about a landlord selling your place or booting you out. You can choose a comfortable monthly payment without worrying that itll be bumped up in a year, and then maybe again the next year.
Is it a choice for everyone? Not at all. If I were 25 again, not 45, Id do the same thing as the first time"lease an apartment for a year at a time and take advantage of the anchorless life in cramped urban places where owning is too expensive.
But in all but the biggest cities, theres a cultural expectation that when you decide to try adulthood, owning a home is part of it. Is it peer pressure? Absolutely. But its real. And its about stability and savings and"
Hold on, I think the gutter repair guy is calling
""
To see more of The Charlotte Observer, or to subscribe to the newspaper, go to http://www.charlotteobserver.com.
Copyright (c) 2010, The Charlotte Observer, N.C.
Distributed by McClatchy-Tribune Information Services.
For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com, e-mail services@mctinfoservices.com, or call 866-280-5210 (outside the United States, call +1 312-222-4544).
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		</item>
		<item>
		<title>Average Mortgage Rates Hit Low of 4.42%</title>
		<link>http://raleighncrealestatemls.com/274/average-mortgage-rates-hit-low-of-442/</link>
		<comments>http://raleighncrealestatemls.com/274/average-mortgage-rates-hit-low-of-442/#comments</comments>
		<pubDate>Fri, 20 Aug 2010 16:49:56 +0000</pubDate>
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		<category><![CDATA[Raleigh NC Real Estate]]></category>

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		<description><![CDATA[
Average Mortgage Rates Hit Low of 4.42%
August 20, 2010 

By Alan Zibel
WASHINGTON"Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy.
The average rate for 30-year fixed loans this week was 4.42 percent, down from 4.44 percent last week, mortgage [...]]]></description>
			<content:encoded><![CDATA[
Average Mortgage Rates Hit Low of 4.42%
August 20, 2010 

By Alan Zibel
WASHINGTON"Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy.
The average rate for 30-year fixed loans this week was 4.42 percent, down from 4.44 percent last week, mortgage buyer Freddie Mac said Thursday. Thats the lowest since Freddie Mac began tracking rates in 1971.
The average rate on 15-year fixed loans dropped to 3.9 percent, down from 3.92 percent last week and the lowest on records dating back to 1991.
Rates have fallen since spring as investors sought the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.
Falling rates have pushed refinancing of home loans to the highest level since May 2009. But its still lower than during the first three months of that year, when rates first fell to around 5 percent.
Low mortgage rates, however, have failed to spark home sales. They remain hobbled by the weak economy and tight credit standards.
Rates have fallen since spring as investors sought the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.
To calculate the national average, Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Average rates on five-year adjustable-rate mortgages were unchanged at 3.56 percent. Rates on one-year adjustable-rate mortgages also were unchanged at an average of 3.53 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Macs survey averaged 0.7 a point for 30-year and 1-year mortgages. They averaged 0.6 of a point for 15-year and 5-year mortgages.
Source: Associated Press/AP Online
Publication date: 2010-08-19
Read more: http://www.houselogic.com/news/articles/average-mortgage-rates-hit-low-442/#ixzz0xAKZXlrr
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		</item>
		<item>
		<title>Selling Your Home: Quick Fixes for Big Returns</title>
		<link>http://raleighncrealestatemls.com/272/selling-your-home-quick-fixes-for-big-returns/</link>
		<comments>http://raleighncrealestatemls.com/272/selling-your-home-quick-fixes-for-big-returns/#comments</comments>
		<pubDate>Tue, 17 Aug 2010 17:27:04 +0000</pubDate>
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		<description><![CDATA[Selling Your Home: Quick Fixes for Big Returns
by Barbara Green (Subscribe to Barbara Green), posted Jul 20th 2010 3:05AM
Selling your home is stressful even during the best of times, but when the market is slow it sometimes seems like &#8220;Mission: Impossible.&#8221; In order to sell your home for top dollar in a down market, you [...]]]></description>
			<content:encoded><![CDATA[Selling Your Home: Quick Fixes for Big Returns
by Barbara Green (Subscribe to Barbara Green), posted Jul 20th 2010 3:05AM
Selling your home is stressful even during the best of times, but when the market is slow it sometimes seems like &#8220;Mission: Impossible.&#8221; In order to sell your home for top dollar in a down market, you need to be proactive in making your home stand out from the huge inventory of listings that buyers have to choose from.
Thankfully, there are many small improvements that you can make to get a big return on your investment and help your home sell faster:
1. Make a grand entrance. 
Front doors need to be welcoming and in good repair or potential buyers will go back to the car without walking inside. If your door doesn&#8217;t make a good first impression, replacing it is one of the best investments you can make. Not only will the new door attract buyers, it can add a 128 percent return on the investment when the house sells.
2. Wash the exterior.
Exterior siding and shutters must be clean and mold free. But don&#8217;t worry about the expense of renting a power washer or hiring someone to do it. Simply spray on liquid house wash (Mold Armor House Wash is under $10 and works great): Let it sit for 10 minutes, rinse with a garden hose and your siding is as good as new.
3. Dump the popcorn.
Popcorn ceilings are not popular with buyers. Luckily, they are inexpensive to fix. First, empty the room or cover everything with plastic. Next, gather a ladder, a garden sprayer filled with water, a 4-inch scraper, a face mask, and goggles. Using the garden sprayer, wet an area as big as your arm&#8217;s reach while standing on the ladder. Once the popcorn is wet, it comes off easily using the scraper. Be sure to wear the mask and goggles to protect yourself. Keep moving your ladder around the room, scraping the ceiling off in sections. After all the popcorn is gone, you may need to go back up and re-spackle or sand where the builder taped the ceiling. Finish with a fresh coat of flat paint. A word of caution: If your home was built between 1930 and 1985 there is a strong possibility that it may contain asbestos. Before proceeding, you should scrape 3 to 4 samples from around the room into separate resealable bags and send to a certified asbestos testing agency. If the results are negative, you can proceed without worry. If they are positive you will need an alternate method, such as covering it with something like Armstrong&#8217;s ceiling systems or an extra layer of sheetrock.
4. Do easy upgrades in kitchens and bathrooms.
Kitchens and bathrooms are known as the rooms that sell the house. Don&#8217;t make the mistake of taking on an expensive remodeling project in order to sell your home. In the kitchen you will get a better return on your investment if you simply upgrade the appliances and replace the countertops. Another easy fix is updating the hardware on the cabinets and drawers. In the bathroom, replace the large, landscape mirror with a smaller, framed mirror. Replace dated light fixtures, and re-grout the existing tile. The idea here it to refresh, rather than remodel these valuable rooms.
5. Paint in welcoming tones.
Paint is an inexpensive fix for rooms that might be too bold for the average buyer. However, don&#8217;t turn to white paint when trying to neutralize offensive colors. You want to have rich, beautiful color on your walls so that your home stands out from the rest. White walls just leave your home looking cold, bland and uninviting. Instead, neutralize with warm tan or taupe to broaden your home&#8217;s appeal. Other good choices for paint are muted greens, soft golds or pale yellows. Use an eggshell or satin finish to make the walls easy to clean.
6. Look at your home through a camera lens.
Photograph your home before putting it on the market. It is easier to see your home&#8217;s flaws in the photos than in person. Today&#8217;s buyers search the internet before ever calling a realty agent, and studies show that they only spend three seconds on a listing before they click to the next one. If there is more than one home for sale in a neighborhood, the one that photographs best will likely sell fastest.
Your home is probably the biggest investment you will ever make. Remember, once you put your home on the market it is no longer your home. It is a product that needs to be sold in the shortest time possible. By making these small improvements you are eliminating potential obstacles to selling your home, in addition to creating a property that is appealing to the broadest cross-section of buyers. Your efforts are sure to be rewarded with a quicker sale at a higher price.
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		<title>Foreclosure Alternative: The Short Sale</title>
		<link>http://raleighncrealestatemls.com/270/foreclosure-alternative-the-short-sale/</link>
		<comments>http://raleighncrealestatemls.com/270/foreclosure-alternative-the-short-sale/#comments</comments>
		<pubDate>Mon, 09 Aug 2010 16:29:06 +0000</pubDate>
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		<category><![CDATA[Raleigh NC Real Estate]]></category>

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		<description><![CDATA[



Foreclosure Alternative: The Short Sale

By: Gwen Moran
Published: July 8, 2010
A short sale is far from hassle-free, but its a better alternative than foreclosure. And now youve got a little help from your friends in D.C. Here are the facts about short sales and how to get started.




After a short sale, you may qualify for a [...]]]></description>
			<content:encoded><![CDATA[



Foreclosure Alternative: The Short Sale

By: Gwen Moran
Published: July 8, 2010
A short sale is far from hassle-free, but its a better alternative than foreclosure. And now youve got a little help from your friends in D.C. Here are the facts about short sales and how to get started.




After a short sale, you may qualify for a loan again in two years&#8211;quicker than you could with a foreclosure in your past.
Image: fotog/Getty Images
Facing foreclosure and tempted to stay in your home until the bank pulls it out from under you? Bad idea. Dont do it. A much more graceful exit is a short sale, an agreement between you and your lender to sell your home for less than you owe. Although theres no guarantee that your lender will let you avoid foreclosure with a short sale, new government regulations are aimed at encouraging lenders to do so.
Short sales get government incentives
Although short sales are not hassle-free, at least youve got the government backing you. The Home Affordable Foreclosure Alternatives (HAFA) program provides financial incentives for lenders and borrowers to avoid foreclosure through short sales or deeds in lieu of foreclosures.
Participation in the HAFA program requires adherence to guidelines"including a standard process and minimum timeframes"that speed the process, says Dallas-based REALTOR Tom Branch, co-author of Avoiding Foreclosure: The Field Guide to Short Sales. The HAFA program is for homeowners who cant keep their homes with the help of a loan modification.
Advantages of a short sale

You can be a homeowner again more quickly with a short sale in your past than with a foreclosure. New Fannie Mae guidelines help you qualify for a new mortgage in as little as two years after a short sale, as opposed to three years or more after a foreclosure.


You will have more time to make relocation plans and save money than with a deed in lieu. A short sale may take four to 12 months. A deed in lieu of foreclosure arrangement typically requires you vacate your home within 30 to 60 days of signing, according to real estate attorney Lance Churchill.


You can receive up to $3,000 from your lender for moving expenses at the time of closing of a HAFA short sale or a HAFA deed in lieu of foreclosure. Relocation funds are part of the incentives of HAFA, but not necessarily for other short sale or deed in lieu programs of the lenders.


You can help your communitys home values. Because the lender often receives a higher amount of the remaining loan balance than it would from the sale of a home after a foreclosure, short sales help support home values in the surrounding community.

Disadvantages of a short sale

Your credit score will take a severe hit. But that would happen anyway with a foreclosure. Fair Isaac, creator of the FICO score, says foreclosure and short sales have virtually identical impacts on your credit score. VantageScore"a company that has created a credit score model for consumers"says a short sale will lead to only a marginally lighter hit when compared with foreclosure.


You may owe additional taxes. In the past, if your outstanding mortgage was $100,000 and your lender accepted a short-sale purchase offer of $90,000, you were liable for income tax on the forgiven $10,000, says Harlan D. Platt, economist and professor of finance at Northeastern University in Boston. However, the Mortgage Forgiveness Debt Relief Act of 2007, which runs through 2012, generally allows taxpayers to exclude income from the discharge of debt on their principal residence in some circumstances. Full relief is available only if the amount of forgiven debt doesnt exceed the debt that was used to acquire, construct, or rehabilitate a principal residence. Consult a tax professional and an attorney to minimize or avoid this liability.


In some states, your lender may still be able to come after you for the difference between the short sale price and the amount needed to pay off the mortgage. Your actual agreement with your lender and state and local laws and regulations spell out the details. Consult a tax professional and an attorney to minimize or avoid this liability.

How to proceed with a short sale

Find a qualified REALTOR experienced in short sales. Short sales are tough to navigate, and theyre further complicated by your loan type"FHA vs. Veterans Administration vs. conventional loans. Real estate agents who specialize in short sales will know the proper steps and order of the steps involved. Theyll also be able to navigate the many parties involved in the process and over-burdened loss mitigation departments. Look especially for agents who have Short Sales and Foreclosure Resource (SFR) Certification, which requires specialized training.


Gather evidence to support your need for a short sale as opposed to a foreclosure. Youll need to prove that you have little or no equity in your home, youre behind on your payments, and youre no longer able to afford your home. Youll need to write a hardship letter to the lender describing your circumstances, such as a divorce, job loss, illness, death, or other event that has impacted your income.

A short sale can be a time-consuming process, but if you can avoid foreclosure, its worth it in the long run.
Gwen Moran has been writing about business, finance, and real estate for more than a decade. Her work has been published by Entrepreneur, Newsweek.com, Financial Planning, Womans Day, and The Residential Specialist. She bucks the cottage trend and lives in a Colonial near the Jersey Shore.
Read more: http://www.houselogic.com/articles/foreclosure-alternative-short-sale/#ixzz0w7un1zk2
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		<item>
		<title>Pending Home Sales Ease in Post-Tax Credit Market</title>
		<link>http://raleighncrealestatemls.com/268/pending-home-sales-ease-in-post-tax-credit-market/</link>
		<comments>http://raleighncrealestatemls.com/268/pending-home-sales-ease-in-post-tax-credit-market/#comments</comments>
		<pubDate>Fri, 06 Aug 2010 13:51:40 +0000</pubDate>
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		<description><![CDATA[Pending Home Sales Ease in Post-Tax Credit Market
August 3, 2010 
Pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the homebuyer tax credit, according to the National Association of REALTORS.
The Pending Home Sales Index declined 2.6% based on [...]]]></description>
			<content:encoded><![CDATA[Pending Home Sales Ease in Post-Tax Credit Market
August 3, 2010 
Pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the homebuyer tax credit, according to the National Association of REALTORS.
The Pending Home Sales Index declined 2.6% based on contracts signed in June and was 18.6% below June 2009. 
The data reflect contracts and not closings, which normally occur with a lag time of one or two months. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
NAR Chief Economist Lawrence Yun said lower home sales are expected in the short term. There could be a couple of additional months of slow home-sales activity before picking up later in the year, provided the job market continues to improve, he said. Over the short term, inventory will look high relative to home sales. However, since home prices have come down to fundamentally justifiable levels, there isnt likely to be any meaningful change to national home values. Some local markets continue to show strengthening prices.
Yun expects mortgage interest rates to remain historically low for the balance of the year, with very modest growth in employment.
We really need to see stronger job creation to have a meaningful recovery in the housing markets, he added.
The PHSI in the Northeast dropped 12.2% in June and was 25.4% lower than June 2009. In the Midwest, the index fell 9.5% and was 27.8% lower than a year ago. Pending home sales in the South rose 3.7% in June, but were 13.3% below June 2009. In the West, the index slipped 0.2% and was 14.2% below a year ago.
Read more: http://www.houselogic.com/news/articles/pending-home-sales-ease-post-tax-credit-market/#ixzz0vpg6SQEm

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		<item>
		<title>7 Steps to a Stress-free Home Closing</title>
		<link>http://raleighncrealestatemls.com/267/7-steps-to-a-stress-free-home-closing/</link>
		<comments>http://raleighncrealestatemls.com/267/7-steps-to-a-stress-free-home-closing/#comments</comments>
		<pubDate>Thu, 29 Jul 2010 17:38:47 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Raleigh NC Real Estate]]></category>

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		<description><![CDATA[7 Steps to a Stress-free Home Closing
&#160;
By: G. M. Filisko
Published 2010-02-10 09:27:33
By doing homework in advance, youll understand what youre asked to sign when you close the sale of your home.


Do a final walk-through of your house before closing to make sure nothing has changed. Image: Inti St. Clair/Digital Vision/Getty Images
Youve already cleared several hurdles [...]]]></description>
			<content:encoded><![CDATA[7 Steps to a Stress-free Home Closing
&nbsp;
By: G. M. Filisko
Published 2010-02-10 09:27:33
By doing homework in advance, youll understand what youre asked to sign when you close the sale of your home.


Do a final walk-through of your house before closing to make sure nothing has changed. Image: Inti St. Clair/Digital Vision/Getty Images
Youve already cleared several hurdles by finding the right home, negotiating the best price, and securing favorable financing. The last obstacle on your homebuying track is the closing, which can be both tedious and tense. By knowing what to expect and doing some legwork, you can put your closing behind you. These seven steps will guide you through a smooth closing.
1. Set a closing date
Your real estate agent will work with the sellers agent and title company to schedule your closing date. Be sure it meshes with the end of your lease or the sale of your existing home and a time when youll able to play hooky from work. If youre tight on cash, schedule your closing for the end of the month because thats when youll have to pay the least amount of interest at the closing table.
2. Gather your funds
You may be required to bring funds to the closing. If theyre not easily accessible, arrange early to transfer them to a liquid account to avoid last-minute problems. If the title company requires the funds in the form of a cashiers check, also leave time to stop by the bank and pick one up.
3. Purchase title insurance
Title insurance protects the policyholder against trouble with a homes title. Your lender will insist that you purchase a policy to protect it. You should also consider purchasing whats called an owners title policy from the same insurer, which protects you from fraudulent claims against your ownership and errors in earlier sales. In some areas, sellers traditionally pay for the buyers title policy. Shop online at Closing.com, EasyTitleQuote.com, and FreeTitleQuote.com. If your home has been sold within the past few years, ask the prior owners insurance company for a reissue discount.
4. Line up homeowners insurance
Get quotes and compare policies to be sure coverage will be in effect by your closing date. An annual policy should run $500-$1,000, depending on your homes size, age, and amenities. If you live in an area where natural disasters occur, like earthquakes, floods, or hurricanes, youll need separate insurance to protect your home.
5. Review your good-faith estimate and HUD-1 settlement sheet
Your lender must provide a good-faith estimate of your closing fees. Some of those fees cant change, and others can rise by 10%. Before you go to the closing, read your good-faith estimate, compare it with your HUD-1 settlement statement, and question any fees that increased.
6. Do a walk-through
Schedule an appointment to walk through the home one last time just before your closing. Make sure repairs you requested have been made, no major changes have occurred since you last viewed the property, and that the sellers left anything they agreed to leave and took all their belongings.
Also test electronics and appliances, such as the doorbell, dishwasher, washer and dryer, and oven, to ensure theyre functioning properly. Do the same with the hot water heater and heating and air conditioning systems. Walk the yard to be sure no plants or shrubs have been removed.
7. Resolve issues identified in your walk-through
If your walk-through uncovers problems, you can delay the closing until the seller corrects them. But thats often not feasible because your lease is probably over and youve already scheduled movers. Another option is to negotiate a discount to your sales price to cover the cost of the work needed. If the air conditioning is on the fritz and a contractor says the repair will cost $500, ask that the sales price be reduced by that amount. If you make that request at closing, however, be ready for a delay while the title company redoes the paperwork.
A third option: Have the title company hold a portion of the sellers proceeds in escrow until the dispute is resolved. Once that happens, the funds will be released to you or the seller, depending on the outcome.
More from HouseLogic
Do you have the right amount of homeowners insurance?
Shop for an umbrella policy when you shop for homeowners insurance
G.M. Filisko is an attorney and award-winning writer who has endured several property closings, but the easiest was done through the mail. A frequent contributor to many national publications including Bankrate.com, REALTOR Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

Read more: http://www.cmetobuy.com

http://buyandsell.houselogic.com/articles/7-steps-stress-free-home-closing/#ixzz0v5sdVHiE
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		<title>How the Foreclosure Crisis Costs You Money</title>
		<link>http://raleighncrealestatemls.com/266/how-the-foreclosure-crisis-costs-you-money/</link>
		<comments>http://raleighncrealestatemls.com/266/how-the-foreclosure-crisis-costs-you-money/#comments</comments>
		<pubDate>Tue, 27 Jul 2010 20:40:37 +0000</pubDate>
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		<description><![CDATA[How the Foreclosure Crisis Costs You Money
By: Lew Sichelman
Published: July 8, 2010
Foreclosure may seem like someone elses problem, but when it happens in your neighborhood, its going to cost you money, too.


Foreclosures affect entire neighborhoods&#8211;the closer a foreclosed home is to your house, the greater impact it will have on your property value. Image: Dreampictures/Photodisc/Getty [...]]]></description>
			<content:encoded><![CDATA[How the Foreclosure Crisis Costs You Money
By: Lew Sichelman
Published: July 8, 2010
Foreclosure may seem like someone elses problem, but when it happens in your neighborhood, its going to cost you money, too.


Foreclosures affect entire neighborhoods&#8211;the closer a foreclosed home is to your house, the greater impact it will have on your property value. Image: Dreampictures/Photodisc/Getty Images
If you need one single reason to be glad Uncle Sam is helping your neighbors avoid losing their houses to foreclosure, look no further than the value of your own home. You are personally going to pay the price of your neighbors misfortune if the bank takes back their house.
Each foreclosure within 660 feet (1/8th mile) of your house can drop your homes value by a factor of almost 0.75%, according to the Center for Responsible Lending, a consumer watchdog group.
The closer a foreclosure is to your house, the bigger the impact. A university of Connecticut study suggests one foreclosure within 300 feet of your home will lower your property value by 1%.
If you live in a neighborhood with few vacant homes and a foreclosure occurs within 250 feet, a University of California, Berkeley study suggests you could lose 2.2% of your home value.
Do troubled owners deserve help?
Some people think the homeowners facing foreclosure got themselves into trouble because they bought more house than they could afford with toxic mortgages for which they never should have been approved. At least one study of the 2007 and 2008 foreclosure crisis suggests that was indeed the case.
Foreclosures become comparable sales
Even if you dont feel compassion for those facing foreclosure, you might feel sorry for yourself. Homebuyers and mortgage lenders use foreclosures as comparable properties to value your home when you sell or refinance. And the discount at which foreclosures sell is a hefty 27% on average.
Although most appraisers adjust the value of your home upward compared with a foreclosure, a homebuyer may consider the foreclosure equally valuable to your home and base his offer on that instead of your propertys real worth. If that happens, your real estate agent can argue that non-distress sale comparables and better condition make your property worth more.
Foreclosures lower tax revenues
Drops in property values brought on by foreclosures dont just hurt your property value; they also cut away at the whole property tax base, the source of revenue for local government. Elected officials then have to either charge you higher taxes or cut services to make up for the shortfall.
What you can do about foreclosures
To limit foreclosure damage in your community, ask local officials to pass laws forcing lenders to maintain the properties they now own and to pay the taxes and homeowners association dues on them.
If the town isnt forcing lenders to maintain a foreclosure in your neighborhood, organize a volunteer effort to cut and trim the shrubs at vacant houses on a round-robin basis, and report vandals or squatters to the police. A well-kept foreclosed home will attract more buyers than one with a weed-filled yard. Take trespassing laws into account as you organize your effort.
If youre selling or refinancing and the appraiser uses foreclosures as comparable sales to determine the value of your property, ask your real estate agent to make sure the appraiser accounts for the distressed nature of those sales and the condition of the properties as they compare to yours. Ask your agent to seek out other comparable sales the appraiser might have missed, which show your home in a much better light.
Syndicated housing columnist Lew Sichelman lives in a ranch house on the western shore of the Chesapeake Bay and has been writing about housing for more than 40 years.
Read more: Http://www.cmetobuy.com 
http://www.houselogic.com/articles/how-foreclosure-crisis-costs-you-money/#ixzz0uuvWKPsy
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		<title>It&#8217;s a great time to buy property in the Triangle</title>
		<link>http://raleighncrealestatemls.com/265/its-a-great-time-to-buy-property-in-the-triangle/</link>
		<comments>http://raleighncrealestatemls.com/265/its-a-great-time-to-buy-property-in-the-triangle/#comments</comments>
		<pubDate>Fri, 23 Jul 2010 18:58:14 +0000</pubDate>
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		<category><![CDATA[Raleigh NC Real Estate]]></category>

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		<description><![CDATA[


There are 225 new listings in Raleigh this week. There are 4832 residential MLS listings available with an average price of $319,618. Popular neighborhoods include: Bedford At Falls River, Hedingham and Brier Creek Country Club. You may be interested in homes for sale in these school districts: Wake County Schools, Durham Public Schools and Johnston [...]]]></description>
			<content:encoded><![CDATA[


There are 225 new listings in Raleigh this week. There are 4832 residential MLS listings available with an average price of $319,618. Popular neighborhoods include: Bedford At Falls River, Hedingham and Brier Creek Country Club. You may be interested in homes for sale in these school districts: Wake County Schools, Durham Public Schools and Johnston County Schools. Streets with the most MLS listings include: Glenwood Ave, Uncategorized and Fayetteville St.

Active Listings in Raleigh, NC

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Average Price
Average Price Per Sq. Ft.
Up to $250k
$251k - $500k
$501k - $750k
$751k - $1m
$1m+


Condominiums
$185,615
$121
1,134
212
14
6
3


Commercial
$364,615
$9,959
39
11
5
5
5








Market Trends

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Raleigh Schools - Elem., Mid. and High Schools

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Average Student / Teacher
# Schools


Elementary
13
86


Middle
13
47






School Districts


Quest Academy School District


Casa Esperanza Montessori School District


Torchlight Academy











Raleigh Neighborhood Information

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Walk Score: 89 out of 100: Very Walkable
Walk score measures how walkable an address is based on the distance to nearby amenities. Learn More!


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		<item>
		<title>Just a few things that make the Triangle a great place to live</title>
		<link>http://raleighncrealestatemls.com/264/just-a-few-things-that-make-the-triangle-a-great-place-to-live/</link>
		<comments>http://raleighncrealestatemls.com/264/just-a-few-things-that-make-the-triangle-a-great-place-to-live/#comments</comments>
		<pubDate>Tue, 20 Jul 2010 18:05:10 +0000</pubDate>
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		<description><![CDATA[Triangle Accolades January 2010 to June 2010
#3 Cost Competitive North
American
City (
Raleigh, NC) KPMG LLC, June 2010#18 Best Labor-Market Performance
(
Raleigh, NC)
U.S. Bureau of Labor Statistics, June 2010#1 Quality of Life
(
Raleigh, NC) Portfolio.com/bizjournals, May 2010#3 Most Innovative City
(
Raleigh, NC) Forbes, May 2010#2 Best State for Business
(
North Carolina) Chief Executive, May 2010#15 Strongest Economy
(
Raleigh-Cary, NC) Policom Corp., May [...]]]></description>
			<content:encoded><![CDATA[Triangle Accolades January 2010 to June 2010
#3 Cost Competitive North
American
City (
Raleigh, NC) KPMG LLC, June 2010#18 Best Labor-Market Performance
(
Raleigh, NC)
U.S. Bureau of Labor Statistics, June 2010#1 Quality of Life
(
Raleigh, NC) Portfolio.com/bizjournals, May 2010#3 Most Innovative City
(
Raleigh, NC) Forbes, May 2010#2 Best State for Business
(
North Carolina) Chief Executive, May 2010#15 Strongest Economy
(
Raleigh-Cary, NC) Policom Corp., May 2010#3 Hottest
Job
Growth
City for the Next Decade
(
Raleigh, NC) BNET.com, April 2010
#8 Best Place
 to Live
(
Raleigh, NC) RelocateAmerica.com, April 2010#1 Smartest City
(
Raleigh-Durham, NC) TheDailyBeast.com, April 2010
#3 Best Place
 for Business and Careers
(
Raleigh, NC) Forbes.com, April 2010#2 Cheapest Midsized Market to do Business
(
Raleigh, NC) KPMG LLP, March 2010#6

Top-Spending
City
(
Raleigh, NC) The Bundle Report, March 2010#3 Market for Young Adults
(
Raleigh, NC) Portfolio.com/bizjournals, March 2010#2

Telecommuting
City
(
Raleigh-Durham, NC) Microsoft Corp., March 2010
#8 Travel Value
(
Raleigh, NC) Hotwire.com, March 2010
#1 Most Wired City
Raleigh, NC, Forbes.com, March 2010
#1 Top Business Climate in 2009
North Carolina, Site Selection, January 2010
#2

Telecommuting
City
Raleigh-Durham, NC, Microsoft Corp., March 2010

#3 Best Place
 to Launch a New Business
Raleigh, NC, Portfolio.com/bizjournals January 2010
#8 Travel Value
Raleigh, NC, Hotwire.com, March 2010
#6 Most Notable High-Growth Areas in the
U.S.
Wake Forest, NC, Gadberry Group, January 2010
#1 Healthiest Housing Market
Raleigh-Cary, NC, Hanley Wood Market Intelligence, February 2010
#9 Best Drivers Cities
Raleigh, NC, Car and Driver Magazine, January 2010
#3 Well-Being
Raleigh-Cary, NC, Gallup-Healthways, February 2010
#1 Healthiest County in NC
Wake County, NC,

University of
Wisconsin Population Health
Institute, January 2010
#3 Area in Five-Year Jobs Growth
Raleigh-Cary, NC,
Buffalo Business First, February 2010

#4 Best Place
 to Retire and Row
Raleigh, NC, The Rowers Almanac, March 2010
Best Value in

Public
Colleges and Universities:
#1 UNC-Chapel Hill / #10

North Carolina
State
University
Kiplinger.com, January 2010

It&#8217;s a great time to buy in the Triangle, call or email us if we may be able to help! 
www.cmetobuy.com
michelle@cmetobuy.com


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