Posts Tagged ‘Realtor’

Affordable mortgages and downpayment assistance for many residents of North Carolina.

Affordable mortgages and downpayment assistance for many residents of North Carolina.

Is it time for a new home? Are you afraid that you don’t qualify for a loan; or you don’t have a down payment; or you won’t make any profit on your current home?

I can help. The North Carolina Housing Finance Agency is now offering down payment assistance to many more real estate consumers.
***Do you earn $85,000 or less?
***Do you have a credit score of 640 or better?
***Are you a legal resident of the USA?

You may qualify, call me today, I can help. My friend Chris Holt with FM Lending is a participating mortgage lender. His telephone number is 919-416-2225, make sure you mention my name when you call him.

Team Michael Sullivan can help you find your next house to call home. Call us today at 919-608-2372 or visit our web site at www.TeamMichaelSullivan.com

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Five Oaks like most other neighborhoods in Durham and Chapel Hill
has experienced some market depreciation in the last two years. Like everyone
elset his has affected me too. Sadly, comparables are comparables in the eyes
of bank appraisers. In most cases it really doesn’t matter in the eyes
of appraisers if a home sale is a short sale, foreclosure or open market

Bank appraisers look at three distinct criteria when assigning value to
a home. Bankappraisers look at location, size and style of homes and judge
comparables against a subject properties. It is very important to remember
that only a bank appraiser can assign a true value to a property. Real estate
agents may not do this assign a value to a property if they are not an

What real estate agents do is generate a market analysis which gives a range in
value, not a concrete value. This analysis typically gives an expected marketing
time too. Once an analysis is complete the real estate
agent sits and consults with his seller prospects and typically discusses the
merits of the comparable sales used in generating the market analysis. With
this in mind it is very important to remember that ultimately the owners of
property decide what they will ask for their home. It is important to keep in
mind that home owners are the kings and queens of their castles and a good
agents job is to empower them with solid information.

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The Herald-Sun and Tulia are, in my opinion attempting to put a shinny gloss on the Durham/Raleigh real estate market.  I am not convinced that this is the case.

This piggy backs with my posting from yesterday… not.  What Trulia and Rick Sharga miss is the fact that our market does not exist in a world on its own.  Granted Durham/Raleigh is weathering the storm better than the nation, which should NOT be painted as a rosy real estate picture, but rather should underscore how terrible the real estate market is right now in the United States .

The Herald-Sun – 2011 looks good for Triangle housing.

Trulia’s data I believe is skewed too, they are nearly 3% off of the National Association of Realtors with respect to closed home prices for Q3, 2010; this should cause one to pause and consider how easy it is for statisticians to cook the books and manipulate data.  Similarly, since Trulia relies on automated data feeds, I am indeed skeptical of their numbers.

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All REALTORS are not created equal

Today I had opportunity to try to hire a REALTOR to manage my property in Carteret County near my folks and on the coast. I made inquiry last week and the agent was prompt, got the key, showed the house and was very rushed to get my home leased. Problematically for me, there was no mention of contract or compensation.

Today the details started to come together, again without details ironed out. The tenants terms were laid out which is fine. I then laid out my terms to the REALTOR in Carteret County. I informed them that I would pay x in commission, that I expected my AGENTS to make quarterly visits to my house and document those visits with digital photos, that I expected x in non-refundable pet deposit and that I would make x, y and z enhancements to the property for the tenant.

This is where I hit the wall. I was informed by the agent that; we charge ten percent commission and we don’t alter that ever; that’s cool, I get that. I was then informed that the non-refundable pet deposit would be placed in their company trust or escrow account even though this is NOT trust or security deposit money; this is a non-refundable deposit that I the owner require for the tenant to have an animal in my home. The tenant can NEVER get that money back; it is a fee for me bending my rules to accommodate the tenant. This agent informed me that it is their policy to always hold this money in trust. I was also informed that quarterly visits would not happen and that frankly my 10% commission to them was hardly worth them taking my business.

Suffice it to say, our interaction had become rather adversarial. I spoke to several close friends, I spoke to my folks and I prayed on it. So here is a REALTOR who is trying to earn my business, to put his best foot forward, to develop a “RELATIONSHIP” with me and yet he is not willing to really earn or appreciate my business. My dear friend Charles pointed out, “If he’s going to behave like this now, just imagine how he’ll act in four or five months.”

Wow, that clinched it. The agent at the beach offered and I’ve taken him up on it….I will manage my property myself thank you very much. Now we’ll see if he does indeed send me the name of the prospective tenant.

Interested in buying, selling, renting or offering to rent real estate in Raleigh, Durham, RTP, NC? Call me or visit my web sites, RentDurhamNC or TeamMichaelSullivan. Phone is 919-608-2372

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