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Posts Tagged ‘MIKE SULLIVAN’

8013 Goldenrain Way Raleigh

Walk to Umstead State Park from this charming and well upgraded 3 bedroom, 3.5 bath townhouse. The kitchen is a cook’s delight and you’ll love spending time relaxing and enjoying the pond in the backyard. ???????????????????????????????

Offered at $179,900

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A great value

A deal….what a deal….

1719 Medallion Drive Durham 27704
Built in 2005, one owner and gently, yes GENTLY lived in. This home is just five minutes to RTP and about ten to Duke, Duke Hospital and the VA Hospital.

Truly the property shows as nearly new, with nine foot high ceilings, a fantastic LEVEL lot, worry free vinyl siding, gas fireplace, modern kitchen, luxury master retreat, tremendous amount of closet space and a neighborhood that offers a community pool and playground.

For a total of 1800 heated square feet, three bedrooms, two and a half baths, a bonus room formal living room and dining room and nearly a third of an acre…the price…drum roll please…$119,900.

This home is an AMAZING value. Want to see it? Call or text today.

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Real estate for Raleigh/Durham NC and beyond

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Room for a pony or two…

6606 Blalock Road is nestled in the gently rolling hills of Bahama, NC in northern Durham County. This lovely farmette has room for a pony or two.

This custom built home has nearly 2300 square feet. Rome sizes are gracious and rooms are light filled. The common living areas are adorned with hardwood flooring and soothing colors. The bedrooms have plush wall to wall carpeting.

The master suite is amazing. The en suite bath has a jetted tub and separate shower and the bedroom has a door which opens to a huge rear deck.

The kitchen is spacious with solid surface counter tops and custom built Oak cabinets. Adjoining the kitchen is a spacious dining area and a flexible family room space.

The 4.3 acres of pasture land that comprise 6606 Blalock Road are amazing. The current owners have left the pasture gates so electric fences can easily be added back in. Additionally there is a lean to shed for sheltering animals.

This property also has a three car detached garage with an apartment above. Friends and family members will enjoy using the hot tub/spa safely enclosed in its own space or the swimming pool in a fully fenced enclosure.

6606 Blalock Road is well priced at $319,900. Call Michael Sullivan at 919-608-2372 to arrange a private showing of this home. Visit Michael on the web at TeamMichaelSullivan.com or TeamMichaelSullivan.net.

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Visit TeamMichaelSullivan.com for links to the active listings in the center column.

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The right buyer’s agent; how the heck do you know?
I suppose before you can know, you need to understand exactly what it is a buyer’s agent is supposed to do and how they are supposed to operate.

In North Carolina a real estate agent is required to work for someone. That someone can either be a buyer or a seller or sometimes both. Being a seller’s agent is traditional agency, the agent is working for the seller’s best interest. Being a buyer’s agent is just that, working for the buyer’s best interest. Being a dual agent is working for both parties best interests. Believe it or not with experience this is not tough to do.

So back to buyer agency; most if not all problems associated with a real estate transaction boil down to communication.

1. An agent doesn’t have the experience to know and understand where pitfalls may be within a specific transaction.

2. Through training or lack thereof, the pitfalls have not been communicated to the agent and the agent has not communicated to the buyer the pitfalls.

3. The buyer agent does not adequately communicate to the listing agent what it is the buyer wants or expects.

4. The listing agent doesn’t know about a particular deficiency in the property.

5. Through training or lack thereof, the seller agent has not explored the red flags that would uncover a deficiency.

6. The buyer agent doesn’t show the buyers what they want to see.

7. The buyer agent has not asked the proper questions to determine and vet out exactly what the buyer wants or can afford.

8. The buyer agent doesn’t know the market and cannot adequately inform or show the buyer what is available in the market.

It boils down to communication. As a consumer of real estate take your time, sit down with your potential buyer agent or seller’s agent and talk to them, interview them. One of the most important practices that I typically engage in with my clients is an interview. We sit down and before we look at one home, we talk for a half hour. I ask a million questions so that I can better assist my buyers in making a home buying decision.

There is more but a blog is not the venue to go into all of that. Call me, Michael Sullivan at 919-608-2372 for a free no obligation consultation where we will discuss whether I am the right agent for you. I have 17 years market experience in the Raleigh, Durham, Cary and Chapel Hill real estate market where I have helped thousands of families find their spot to call home. You may text to 919-608-2372 or email me at MSullivan@fmrealty.com. Learn more about Team Michael Sullivan at TeamMichaelSullivan.com

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302 Pekoe Street Durham NC 27707

302 Pekoe Street

The Short Story of a Financial Mess

In 2005 302 Pekoe Street was listed for sale for $93,000 and it sold for $105,000 and the seller the Historic Preservation Society of Durham paid $5000 to connect the property to services and $2000 in buyer closing costs.

I was called in 2009, in the fall to look at the property and prepare a market survey for the purpose of listing and selling the property.  At that time the owner related to me that he had to sell the house in the neighborhood of $149,900 to pay it off.  He had been given all sorts of home equity money in the house by Bank of America.

The property had not been completely renovated.  The kitchen was incomplete as were the baths, the second floor drywall and the landscaping.  The home is in a nice area within close proximity to NCCU but the neighborhood has never been financially stable since most of the population is hourly workers subject to the whims of a changing economy.

At that time the house had been listed; the agent and owner started the price at $177,000 and had incrementally dropped the price down to $166,000.  My market survey at that time fall of 2009 indicated that the owner would be LUCKY to get $80,000 for the property and I indeed thought that tax value would be a more appropriate listing price, that being $69,986.  It was my opinion that this property at 302 Pekoe Street, Durham NC 27707 was NEVER worth what the owner had paid for it, let alone what Bank of America had lent out on it. 

Furthermore it was my opinion that both Bank of America and the now previous owner had speculated as to the value of this property.  302 Pekoe Street is now in foreclosure at a list price of $59,900. 

The fellow who has lost this home to foreclosure purchased the home through its listing agent.  Unfortunately, the listing agent did this buy a disservice by not really looking out for his best interests.  Of course the previous seller should never have over financed this home and Bank of America should never have lent so much money out on it.  It is a financial mess and perfect illustration of what has destroyed the real estate market in the country.   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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