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Posts Tagged ‘duke homes’

After twenty two years of selling homes you’d think that I’d seen it all.  Maybe? Close?  I don’t know. I am still amazed at what happens.

In spite of the fact that as both a buyer’s agent and listing agent I endeavor to impart clear expectations to buyers, buyer’s agents and home owners; sometimes I’m just plain surprised by what happens or doesn’t happen when a property is shown.  So, I’ll attempt to impart some wisdom here in this forum.

To home buyers here are some common sense do’s when viewing another person’s home. Keep your children under control if they’re looking at homes with you. It is not acceptable for young children to flop on furniture, this includes beds. Please prevent your children from opening cupboards, refrigerators, playing with toys, hiding in closets and under beds or turning on electronic devises.  This would also include “disco lighting” he house by rapidly turning off and on lights.  It is also very bad form to allow anyone in your party to bring food, drinks and snacks into a property being viewed.  This would include you. Please leave pets alone too, many pets bite or scratch when faced with strangers.   Finally, don’t use the bathroom; I know that this is a tough one given the excitement of viewing homes but it is just bad manners to use the loo without permission.

Agents working with buyers and showing them homes should be in tune to what their clients are doing and should know their stuff. Get your chin up out of the MLS data or off your tablet and use memory and top of mind techniques to tell the buyer about the property. Start your showings by removing your shoes, if you model this behavior your buyers will follow suit. Make sure all doors are locked when you’re finished showing and LEAVE THE HOME EXACTLY AS YOU FOUND IT. If lights were on, leave them on, if off then turn them back off. Educate your clients about acceptable behaviors and be aware that many owners use recording devices to review what’s happening in their home whilst they’re away.  Finally a good buyer’s agent should provide brief and impersonal feedback after showings. I find that a simple statement telling whether the buyer is interested or not will suffice. Good listing agents really don’t want to read nitpicky personally motivated mess about what you think and especially what you can’t qualify with data.

Home sellers should ensure that valuables are tucked away and out of site. Horizontal surfaces, closets and cupboards should be clutter free and the home in general should be well organized.  Even the brightest of homes should burn lights like a commercial for Duke Energy. Heating and air conditioning should be set at comfortable levels and the water should be on, just in case someone uses the loo, even though they shouldn’t.  Owners should also freely share any transgressions as outlined previously in this post along with anything else that’s amiss with their listing agent.

Yes, I’ve seen a lot; buyers attempting to change a diaper on a dining room table, children hiding under beds, home owners hiding under beds and in closets, folks showing up to view a home with an open cup of coffee and lots of muddy shoes. I’ve been bitten by a cat, chased by a Doberman pincer, terrified by a snake inside a home on a stair step and walked in on folks behaving intimately even though I had a confirmed appointment. Some good common sense can make the home buying and selling experience a happy one.  Interested in buying or selling a home?  Call or email me.

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Day to day I’m out showing and there isn’t much to show!  Add to that the stress of having to deal with REALTOR/Agents who don’t enter complete data into multiple listing; such as room dimensions or incorrect tax data and boy is it a struggle.

My promise to you…my team and I will take the time to properly represent your home in our marketing.  This includes but is not limited to entering proper tax, home owner association and directions to your home, (we know our right from our left.) We will go above and beyond and enter room sizes (not required) and the floor where rooms reside.  This is VERY important to  buyer clients; some folks need bedrooms, bathrooms and living space on specific floors.  Why not make their life easier and their agent’s life easier and supply complete, correct information?  We promise to do so with each and every listing.

So here’s some current market data….

The real estate market here in the Triangle heated up in 2014…

By the numbers 2014 vs. 2013

 2014

30,886 total sales

69 average days on market

$250,051 average list price and $244,892 average home sale price

2013

29,545 total sales

72 average days on market

$242,554 average list price and $236,662 average home sale price

If you’ve been waiting for the market to rebound to sell, now might be the time.  Call me or email me. I’d be delighted to meet, generate a competitive market analysis and help you weigh your options.

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4 Bevel Court Durham NC 27704

This spacious and wonderful home is just minutes to RTP, Duke, Downtown Durham and RDU International airport.
The yard and landscape are loaded with special and beautiful plants. Inside you’ll find large rooms with vaulted ceilings, three full baths, a main level owner’s suite and a terrific bonus room/fourth bedroom upstairs.
The level lot and cul de sac street offer safe play space.
http://www.TeamMichaelSullivan.com

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4101 Five Oaks Dr. #14 offered at $139,950/3Bedrooms/3 Baths/1708 square feet

This lovely end unit condominium with private patio has the feel of a detached home. Inside there are numerous updates and a feeling of spaciousness.  The main level offers an updated kitchen with black appliances, newly painted cabinets, a lovely ceramic backsplash and new flooring.  All appliances stay with this home. Additionally on the main level is a cheery breakfast room, a large dining room with sliding doors to a patio and a generously sized living room. You’ll love the vaulted ceilings here.  Also, this home offers a full bath and a bedroom  on the main level.

Upstairs is a master suite with private bath and a huge walk in closet.  The second bedroom also has it’s own bath and is light filled and sunny.

An HSA Warranty is offered with the home. The HVAC/Heat Pump is about two years old. The carpeting is newer and the paint through out this home is fresh and updated.

4101 Five Oaks Dr. is an easy walk to the Five Oaks Club.

Hickory Downs/Five Oaks is professionally managed by Community Focus NC.

The Hickory Downs/Five Oaks neighborhood is about 7 miles to UNC and 7 miles to Duke University and is just steps from shopping and dining.

Learn more at www.TeamMichaelSullivan.com

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8 Flagstaff Court Durham NC 27713

This home is ready for you to move right in because the current owners have taken meticulous care of this property. The exterior has been freshly painted, the deck power washed and new heating and central air conditioning added in the last couple of years.

The home is nestled on a cul de sac in the Woodlake neighborhood, the lot is level, the backyard is huge and the home is within walking distance to the community pool, lake, trails and a nearby city park.

Inside you’ll find custom moldings, hardwood floors in the foyer, nine foot ceilings down and a nicely flowing floor plan. The kitchen is modern, functional and offers a wealth of work space. The living room and dining room are both sun splashed and inviting. Upstairs are three bedrooms and the master offers two walk in closets and a spa type master bath complete with soaking tub.

Interested in learning more about this lovely home? Call, text or email me Michael Sullivan, the expert on all Durham NC properties.
919-608-2372 mobile/text
MSullivan@fmrealty.com

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4100 Five Oaks Dr. #12

Stop the car! There is so much to love about this light and bright end unit townhouse. New hardwood flooring has been added in the kitchen, breakfast room and the foyer. New paint has been added on the entire inside all of the wall to wall carpeting has been replaced too.

The baths and kitchen have been updated and the upstairs floor plan is one of the most unique in the 4100 Five Oaks Community.

As for location, well smack dab between Duke and UNC; you’ll love the history of living right along Tobacco Road and the world famous basketball rivalry.

Five Oaks is a great place to call home. There are year round activities at the club; there is also swimming, tennis, basketball, volleyball, yogo, Zumba, bingo, bunco, poker and many activities around the movie loft.

Michael Sullivan is the Five Oaks expert. Call him at 919-608-2372 or visit him on the web at TeamMichaelSullivan.com email is MSullivan@fmrealty.com

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Buying a foreclosed home? What you should know going into the process?

For the next two to three years those who are able are going to have their pick of the litter when it comes to foreclosed homes. The trend in the last six month of 2010 is that there are some pretty good foreclosed homes coming on the market in Durham, Chapel Hill, Raleigh, Apex, Cary and Morrisville, North Carolina. Gone are the days, for the most part of the stripped down, abused and beat up foreclosed home. Gone also are the days of really holding the banks hands to the fire and driving a hard nuts bargain.

Lesson one; foreclosed homes are by their very nature at bargain basement prices. This is where most consumers miss the boat. Many real estate consumers of foreclosed homes believe that they can rake the banks over the coals and score a really terrific deal. Banks work off a system where by an actuary puts numbers into a formula and those numbers determine, list price, sales price, concessions if any and commissions. The consumers with whom I’ve worked; who have been successful in purchasing a foreclosed home have “hit their initial offer into the ballpark.” This initial offer is typically within three to five percent of asking price and this includes all concessions. Concessions being closing costs, warranties and any other out of pocket expense the bank would be asked to pay.

Lesson two; unless the property is a portfolio property, the bank has little if any investment or money into the property. Almost all mortgage loans, including those defaulted upon are bought and sold on secondary markets as commodity therefore the bank selling the foreclosed home is a loan servicer and their exposure is in holding the home in inventory. The servicing bank is exposed if the house burns down, develops mold, is vandalized and that’s about it.

 Lesson three; what is as is where is? Simply put, what you see is what you get and what you don’t see is what you get. Here is where you need an experienced savvy buyer’s agent to help you through the process, you also need an agent who knows your market and generally this will not be the listing agent. Most REO/Foreclosed home listing agents don’t work with buyers; they represent the best interests of the bank. This is where I can help you. My 17+ year’s market experience allows me to guide you through the process. I have also sold numerous bank owned properties. Here are my responsibilities to you the buyer:

 1. Make you aware of all hidden and latent fees associated with your purchase of a foreclosed home.

a. Did you know that you might be responsible for de-winterizing and re-winterizing the property even if you don’t get to the closing table?

b. Did you know that there might be significant issues of title including un-cancelled deeds of trust (mortgages).

 c. There indeed might be hidden document fees paid to the bank holding ownership of the foreclosed homes.

d. The bank contract or purchase addendum for the property being pursued may require that the buyer pay fees normally associated with the seller side. Having these documents in hand is critical before purchasing a foreclosed home.

Lesson four; in this down economy there may be unwelcomed residents and conditions associated with the foreclosed home that you are pursuing. I have seen squatters move in during the contract period and the sheriff has had to evict them prior to settlement. I have seen foreclosed homes vandalized or stripped of copper during the escrow period. What the buyer needs to understand is that the bank is under no obligation to bring the house back to the condition that it was in when first discovered by the potential buyer. That is indeed a painful reality.

Lesson five; the listing agent will get me a better deal on this foreclosed home. Nope, isn’t true at all. Most listing agents of foreclosed homes are playing a numbers game. If you don’t buy it someone else will and they are so swamped with paperwork and reporting to their masters at the bank that they don’t have the time or inclination to work with buyers.

Interested in learning more, and there is so much more to learn about foreclosed and short sale properties. Phone me, Michael Sullivan at 919-608-2372 or 1-888-574-6400 and ask for Michael Sullivan at Croasdaile. You may text me at 919-608-2372 or email me at MSullivan@fmrealty.com

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