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Thursday, November 29, 2012

Buying vs. Renting

Realty Times - Buying Beats Renting

Buying Beats Renting
Are you staying put for at least three years? Savvy financial experts recommend you buy versus rent!
A new analysis by Zillow, a real estate information marketplace, providing vital information about homes, real estate listings and mortgages, reveals that the "break-even horizon" in more than 200 metros and 7,500 U.S. cities is three years (or less!). This is great news for wary buyers who have been fearful of declining home values in many cities.  These hard-hit cities are making a come back. The report found that in some of these areas the break-even horizon was less than two years! "Across most of the country, historic levels of affordability make buying a home a better decision than ever, especially considering rents have risen more than 5 percent over the past year," said Stan Humphries, Zillow Chief Economist. "This is the first analysis of metros and cities that presents the buy versus rent decision in an intuitive way, by telling consumers how long they must live in the home before buying breaks even with renting financially. It's much more understandable, and therefore useful, than the abstract notion of a simple ratio of prices to rents. If we want consumers to act on market information, we have to align it with how they think about the issue and make it straight-forward to grasp." This analysis took into account the full picture of homeownership: downpayment, mortgage, transaction costs, property taxes, utilities, maintenance, tax deductions, and adjustments for inflation and forecasted home values. It also figured rental payments, utilities, and rental price appreciation.This sunny outlook is not the case in all areas, however. A local real estate professional should be able to tell you the course of your local market and whether or not home values are once again on the rise. There may even be differences from one local community to the next. For example, in Mill Valley, Calif., just north of San Francisco, a homeowner can break even after 8.8 years, while in similarly-priced Menlo Park, south of the city, they must live in the home for 14.1 years. It all depends on the area. The Miami-Ft. Lauderdale metro is among the most favorable for buying, with homeowners breaking even after only 1.6 years of living in the home. However, in the San Jose metro, where home values are among the highest in the nation, a buyer must commit to living in their home for 8.3 years before they will break even. Zillow reports "Metros where it takes more than five years to reach the breakeven point accounted for 7 percent of the 224 metros covered by the report. The metros with the longest breakeven horizons are San Jose, Calif. (8.3 years), Oak Harbor, Wash. (7.2 years), Santa Cruz, Calif. (7.1 years), San Luis Obispo, Calif. (6.3 years) and Salinas, Calif. (6.3 years). The metros with the shortest breakeven horizon are Memphis, Tenn., Miami-Ft. Lauderdale, Fla., Salisbury, Md., Red Bluff, Calif., Mobile, Ala., Tampa, Fla. and Fernley, Nev. (all tied at 1.6 years)."
 

Tuesday, November 27, 2012

Hoke County Tax Area!


197 Drew Street


Like new home with low Hoke county taxes! Large yard in a cul de sac. The home has new paint inside and out, new air handler, new light fixtures, new carpet in bedrooms, new flooring in the kitchen and master bth, new dryer,etc. The large kitchen is great for the cook in the family, glamour master bath, walk in closets, alarm, and much more!! Learn More!

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Patty Herrera, Broker

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Spacious and Updated!


355 CRYSTAL SPRING DRIVE


Spacious Home 3 bedroom 2 and half bath. Tile floors in kitchen, master bedroom downstairs. Adequate space to accomdate your entire family. Bonus room for kids play, man cave, or lady's get away. Conviently located between Sanford and Fort Bragg. For more information call Patty 910-476-4267 Learn More!

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Patty Herrera, Broker

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Gorgeous Waterfront Home!


15700 BLUEWATER COURT


LAKEFRONT HOME IN GATED/GOLF COMMUNITY! 4,000+ sqft custom built with picturesque views, outdoor shower, boat dock, lower level can easily function as an in-law suite. Additional (adjacent) waterfront lots are available. Deercroft amenities include a pool, tennis courts, community center, beach and boat ramp. Golf membership is also available. A MUST SEE! Call Patty at 910-476-4267 to view this home or any other homes! Learn More!

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Patty Herrera, Broker

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Tuesday, November 20, 2012

Realty Times - Holiday Home Safety

Realty Times - Holiday Home Safety

"Holiday Home Safety
The holiday season should be a time to celebrate family and friends. We travel across town and state in order to be near to those we hold dear. This joyous season, however, is also a time to take extra care. Inclement weather and other pitfalls can put a real damper on this year's celebration.
Here are a few things to keep an eye on this season. It can be tempting to post our future plans on social media site. "Can't wait to go to Grandma's tonight for some of her famous apple pie." "We just arrived at our hotel. I can't believe we have two weeks of ocean views!"  We want to share our excitement about upcoming vacation and trips! Safety experts, however, recommend against this type of sharing.  Sharing travel plans can open yourself and your home up to burglary. Thieves can take advantage of this green light. Do you trust all those on your "friends" list? This may be, but friends of friends may be less than savory characters.  It can be hard to resist posting about the fun you are having, but save the photos, tweets, and status updates for when you return. If you simply must post about your vacation, try and keep posts vague, keeping the reader guessing if you're out of town or not! Is it time for you to invest in a security system? There are many products on the market today that can help homeowners have a little piece of mind while traveling. If the budget allows, you could have a professional alarm monitoring system installed. Tighter budgets might mean getting creative. Many homeowners are finding they can set up their own camera system to monitor remotely.  You could also employ the help of "at home for the break" college students to housesit. Many students love the opportunity for some quiet R&R all while making an extra buck.  As a final measure be sure to tell a trusted neighbor about your plans to be gone. They can help keep an eye on your place and will know when that moving van shouldn't be parked in your driveway!Home safety goes beyond protecting your belongings, though. It also means safeguarding your health. The holiday season means beautiful lights and decorations, but it can also mean fire and shock risks.Christmas lights are festive and charming, but caution must be taken. Always take your time when standing on ladders or navigating roofs. Thousands of homeowners (around 12,500 to be exact) are treated in hospitals each year due to light installation injuries!  Also, take care not to overload outlets with excessive lights. This is a sure-fire way to cause a fire, or at least fry a circuit. Thoroughly inspect all extension cords and light strands for fraying, which can also be a fire hazard.  Finally, take care to prevent ice and slipping hazards. Keep a bag of salt or sand on hand for icy steps and patios. Utilize rugs on entryways where water can make tile slippery. Install motion sensor lights to help guests navigate their way safety to sidewalks and front doors.  The holiday is a fun time! Just be sure you're still singing a merry tune when the season is through!Published: November 20, 2012"

Tuesday, November 13, 2012

Custom Built Home on 9 Acres!


801 Jared Drive


Over 9 acres! Custom brick home with 3 bedrooms,2.5 baths,formal dining room & formal living room, great room with fireplace,kitchen with granite counters and bar area,master suite with Walk-In-Closet, master bath with garden tub,separate shower,dual vanities,Covered front porch & back patio.2 pastures,1 pole barn with 2 conex (dog pen/storage),electric fence, pond in front,well,and more! Learn More!

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Patty Herrera, Broker

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Spacious Home Priced to Sell!


615 Foxlair Court


Beautiful home sitting on over 1 acre in a desired area!This home features a very large great room, master with office and glamour bath!Kitchen with custom cabinets,formal dining/living room combo.Large bonus room with 2 seperate areas with large closet and a full bath! storage area outside remains with home. Very easy to show. Learn More!

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Patty Herrera, Broker

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Adorable Starter Home in Montibello!


7109 PORTO PLACE


Great family/Bachelor/Bachelorette/Starter home. The home features 3 Bedroom, 2 Bath, spacious living rm, w/ eat in kitchen. Fenced back yard w/ above ground pool as well as outside storage. HVAC less than 4 years. Convenient to everything! Call Patty Herrera for more info 910-476-4267. Learn More!

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Patty Herrera, Broker

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Friday, November 9, 2012

Top Reasons to Own a Home

"Buyers all across the nation are making their dreams come true. They’re signing on the dotted line and grabbing hold of the keys to a family home.
Despite record low interest rates and enticing pricing, many potential buyers are delaying the decision to buy. What’s keeping you on the sidelines? Let’s take a look at the top reasons to own a home.
  • Building equity. Writing a check to the landlord is equivalent to lining their pocket with your potential equity. It is money you never get back. You’re paying for a finite amount of time -- one month, one year, etc. Owning your own home means building equity. Each and every mortgage payment is going towards paying down a principal. The worth of your home, however, should continue to gain. The difference between what you owe and the value of your home is equity.
  • Predictability. Gas and grocery prices may rise, especially in the midst of this Summer’s tremendous drought in the American heartland, but a fixed rate mortgage is as predictable as they come. Your mortgage payment will be X amount for the life of the loan.
  • Tax Breaks. Uncle Sam likes homeowners! Did you know that you can deduct the interest you pay each year on your home loan? You can deduct the cost of your property taxes. Even making energy-efficient upgrades can be tax deductible.
  • Appreciation. Home prices are once again on the rise, up nearly 10 percent over 2011 prices. This means a home bought for $100,000 in 2011 could now be worth around $110,000! Over the years (real estate is a long-term investment) your home should gain value. If you decide to sell, you would be looking at a healthy profit! According to the National Association of Realtors (NAR), "The number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing."
  • Social Benefits. We’ve talked about the financial benefits of owning a home, but did you know that homeowners generally rate themselves as happier and healthier than their renting counterparts. Part of this is thanks to the stability that homeownership brings. Neighbors are more permanent fixtures in your life, meaning friendships that last for years to come. Children of homeowners are more likely to graduate high school and less likely to experience teen pregnancy. It’s all about creating a stable environment for the whole family. Homeownership can be a great way to secure future financial security and freedom. So, what’s stopping you from getting into the market? This big purchase comes with lots of perks and there’s never been a better time to buy.

  • Published: October 31, 2012"

    by Carla Hill from Realty Times