When buying a home there may be terms your REALTOR may or may not throw out there. Many of the terms used may seem unimportant, but they are. Certain things you see when looking at a house to buy or when considering selling a house may stick out to you, but you are not sure what it is called.
The best example I can think of, and something that is right there in front of us a lot is one of two types of obsolescence.
If you ever fell in love with a house for sale that you saw online and then went to view the interior of the home with your REALTOR and found it will not work because of “flow” issues, you may have discovered a functional obsolescence. Functional obsolescence is when a house plan or design does not flow right. It may be that you walk in the front door directly into the dining room, or in order to get to the master bathroom toilet, you have to walk through the closet. These things happen and you wonder what the builder was thinking when it was built. Functional obsolescence can make it very difficult to sell a house and usually if there is a strong case of it, the only way for it to sell may be reducing the price well below market value OR in a strong seller’s market it may have a better chance as buyer’s may not have as many choices.
The second obsolescence in Real Estate terminology may be seen just as much depending on where the subject (the house for sale) is located. If you own a home and directly beside it is an active railroad track that has trains going by every 2 to 3 hours OR even once a day, that is called economic obsolescence. It’s something you just cannot change. Location, location, location. If you buy a home and then a few years later the town rezones the parcel behind your house for public/government use and that use turns out to be a prison, then you may have just inherited an economic obsolescence problem. I say problem because it is likely most buyers don’t particularly want a prison in there back yard, AND it is (I am assuming) a material fact that has to be disclosed to potential buyers.
In your journey in buying or selling your next home you may come across one of these two types of obsolescence. I hope it helps you in your decision making process. For more information on this and many other Real Estate Topics, visit Barnes McQuade Realty located in Holly Springs NC.
So I was driving by the New Hill Shopping Center in Holly Springs yesterday (July 26, 2012) and all of a sudden the new Target appeared. I stopped to take a few pictures and I was approached by a supervisor on site and he gave me the inside scoop.
He told me that it will take 8 weeks from the time the bed (the flattened pad of land) was laid until the whole wall structure was complete. That should be completed by the end of this week. It is pretty amazing to look at the huge pieces of concrete walls being hoisted into position. He told me the walls were actually poured into a mold on site, then left to cure for a few days and then each is hoisted in place. The walls can range from 20,000 to 80,000 pounds. Pretty cool.
The target is set for completion by years end and if you look towards the back of the pictures below, a Dick’s Sporting Goods and a movie theater is set to be completed around the same time. Those projects have been delayed from all of the rain we have had, but should be ready to start the building(s) soon.
If you live in Holly Springs, you are sure to have heard it is coming. A well needed boast to the local economy and a chance for other small businesses to have some retail space with large anchoring stores to attract customers. Drive by if you get a chance, this is a major step in Holly Springs being an even better place to live.
That is what I hear quite a bit these days.
Holly Springs is the hottest community in the Triangle Area since Cary started booming over 10 years ago. There are many reasons for this “controlled” growth in the recent years, but to me, if you just drive around you will see for yourself.
Years ago when Holly Springs and Fuquay Varina were considered “Fuquay Springs“, Raleigh was only a few miles wide and North Raleigh was countryside. But in 2012, North Raleigh is a very busy area with a few thoroughfares driving traffic through and through. Holly Springs was a mere rural area with a few thousand (if that) residents. Now Holly Springs is welcoming an industrial park and anew shopping center set to open in early 2013.
The thing that attracts families to Holly Springs though, is that you can drive through most of the town and not feel as if you are 20 minutes from the Capital of NC, Raleigh. Meaning, it is peaceful with serene neighborhoods and pedestrian friendly sidewalks. A lot of the schools are within walking distance of popular subdivisions and some of those same neighborhoods are within walking distance to shopping centers….buy a bike.
From a mapping prospective, Holly Springs will not BOOM, like the traditional growth towns. If you are familiar with the area, picture a square. From Penny Road to West Lake Road, to HWY 55, to US 1. There is really only one direction for Holly Springs to grow and that is South of HWY 55. It is boxed in from the the north, east and west, so growth pretty much is contained to a controlled level. What I am trying to say is it will not explode and if it does seem to, it will be limited to a certain area. There are not many booming towns that seem like a true small town, but Holly Springs may be the exception.
For more information on the area visit us today.
For 7 years I tried to promote my Real Estate business online through Business Directories…most were large corporations, some were an offshoot of larger corporations, and the rest were pretty much big corporate…hence, no one really understands the small business person’s mindset; that being……I don’t have a lot of money, but I need to be exposed to the masses online. The big wigs could smell the blood when Internet advertising was apparently the best way to get noticed. For the most part online advertising is much cheaper and much more effective than print. Then…..the fees starting getting a bit ridiculous.
8 months ago I started interviewing consumers on what they would like to see in a business directory and what they would NOT like to see. I also starting interviewing small businesses on their budgets and what they were willing to pay for a certain channel to be exposed. What I learned was consumers don’t like cluttered pages and banner ads distracting them from their original mission of finding a business and small businesses don’t like free listings that hook you to upgrade your service to the tune of hundreds of bucks a month.
LocalNoggins.com was born mainly out of frustration, but turned into a powerful tool that will help expose small businesses and make it easy for consumers to navigate the site. Taking 4 months to build, it is by far the easiest online business directory and has an emphasis on small business sharing their social media sites. See for yourself and if you like it you can list your business…if you love it please pass it on to all of your contractors, family, and friends.
Here is my profile so you can see how it is only “your” profile visible with no competitors in sight and basically tells the world who you are and how to reach you with just a glance. With a $5 price point, profit isn’t really the goal…I see this more as a tool to help other small business owners like myself….big corporations don’t care about you….small businesses do!!
Just wondering if I read the headline right the first time I saw it….here is the follow up article so you can read for yourself.
Here is my take on this situation. YOU SHOULD HAVE A BUYER”S AGENT IF YOU ARE BUYING A NEW HOME. Short and sweet.
First off, it is always a good idea to have someone represent you in a home purchase. If Dual Agency occurs, just make sure you feel comfortable with what your REALTOR is telling you. Dual Agency is when a REALTOR represent both parties. New construction is different in a few ways, but in my experience the biggest difference is the contract. Most of the time the builder is going to have it’s on contract…geared toward them; not the standard contract that we are all used to and feel comfortable with…. This is not a “bad” thing, but you must read it and make sure you are good with all of the terms…with help from your REALTOR. But remember if you go straight to the builder then that salesperson you are talking to works for the builder.
So I cannot really give an opinion on what is happening with this “builder to keep mineral rights”, but I can say two things.
1) When you buy a home, I would suspect you would want the house and the ground below it to belong to you.
2) When you buy a home, make sure you read everything…..if you go straight to the builder….TAKE CONTRACTS HOME AND READ…..at the minimum….don’t feel forced to sign right then and there. If you don’t have a REALTOR representing your interests I would suggest hiring a Real Estate Attorney to advise you what the contract is saying in regards to what your obligations and rights you can exercise.
Thanks for reading and more information on The Raleigh Area can be found here.
If you are considering a move to Wake County NC, which is Raleigh and surrounding areas such as Holly Springs, Apex and Fuquay Varina ………just to name a few, you may have already started doing some research on the school system here. If you have, you probably know that it’s the number one topic discussed amongst parents of school aged children.
To make a very long story short, Wake County is growing fast……very fast. So with growth there comes along many things that need to be addressed properly……new roads, water and sewer system management, housing and the most talked about….schools. As a REALTOR, we cannot give advice on which school we think it best or by no means which school your child will be going to when you move here. When we enter a listing into our local MLS system, we do not even have school choices to list, we simply click on “Wake County School System”.
As I will not express my opinion on this issue, you as a parent/buyer moving to this area should do thorough research as to what you are looking for in a school for your child as well as all of the other items on a checklist when you move; such as amenities of area, proximity of grocery stores, proximity of airport, malls, prisons….you know the usual. With growth comes growing pains, with growing pains comes preparation, with preparation accompanied with Due Diligence, the move should be less bumpy.
Barnes McQuade Realty is a full service Real Estate Firm located in Holly Springs, NC and services Wake, Johnston and Harnett Counties.
It still amazes me to this day that the market is still slumping….mainly given the low interest rates and the immense amount of inventory out there. It is a buyer’s market (obviously), but at some point inventory will come down under 6 months and we can call it even…or slightly a seller’s market again.
This post is going to be short and sweet. Basically, you hear of a lot of loans falling through for one reason or another. The truth is explained in this article. The gist of the article is this…..the loan officer is the “filter”….listen to what they say AND when underwriting requests a document or request something you think it ridiculous…..just give it to them….IF you want the loan that is……..it’s a great read, check it out and feel free to check in with me here.
I choose the latter. This entry may get a few responses agreeing with me and a few disagreeing with me with good reason. For one, it depends on where a REALTOR practices on what their official title reads. In NC we used to have a salesperson’s license, but now we all have a Broker’s license. In theory though; is the what I am trying to clarify.
When most people think of a they think of someone “selling” their home or someone representing them to “buy” a home, which looks to some either way as the typical “sales” process of hyping up a product, pointing out it’s features and trying to get the most money for the product and spend the least amount of money promoting the product.
Real Estate….in my opinion couldn’t be farther from that theory or “misconception” to the public. First of all, REALTORS are bound to a code of ethics which hardly any “salespeople” would be bound. We are also licensed with the State in which we practice. We have fiduciary duties to our clients, which means we represent them and put their interests above our own. Whether certain REALTORS do that or not is a different discussion, but the rules are the rules and most of us follow them…….those that don’t will eventually be discovered. Second, when listing a home it’s not like we are standing out in front of Wal-Mart with a flyer of your home passing it out to everyone that walks by….your home is not advertised…..it is marketed….there is a difference. It is important who the house is marketed to and where it is marketed. That in itself is a whole new topic as print ads are antiquated, but the gist is we are not advertising the home, we are marketing the home where it will benefit our clients….and not only to promote ourselves…which again….is a whole new topic.
As this topic is totally open for discussion, I would just like to point out that in my view, I am a Consultant, though my ultimate goal is to “sell” a property, it should not be at the cost to my clients in a way that does not benefit them. In other words, we should not advise a client to accept and offer or make an offer that is not in their best interest. I have found that if you follow that rule, things will work out in the end. I hope that the REALTORS reading this post will agree with me and consumers reading this will have a better understanding of what REALTORS stand for as a whole.
If you haven’t gotten on the Holly Springs wagon yet you may want to soon. Aside from being very close to the Capital of NC, Raleigh, and aside from being convenient to RDU and RTP, Holly Springs is probably one of the most family friendly small towns in North Carolina. The history of the Town goes way back, to where it was actually part of Fuquay Varina (kind of) as it was Fuquay Springs back then…you should google that, but that is another blog. Holly Springs has now grown so much that it has attracted not only big time developers for residential properties, but now it is now going to be home to New Hill Place….a very large shopping center situated on the corner of New Hill Road and Highway 55 Bypass.
When I say big…I mean it will have stores like Target, Dick’s, Marshalls, Michaels and Petco; not to mention a huge movie viewing venue by Frank Theatre. The project will be a few hundred yards from the I540 extension and basically minutes from most residential neighborhoods in Holly Springs….12 Oaks being one of them. Very close, but not too close to where you live…just close enough to avoid traffic and a 20 minute commute just to go shopping in Raleigh. That is the best thing about Holly Springs; you get the small hometown feel that you may remember when you were growing up….being part of the community, yet you are in a small town and only 20 minutes from Crabtree Valley Mall or watching the Carolina Hurricanes play.
To give you a better idea of the new development I have posted the link to the youtube video from the developer below. Feel free to contact Barnes McQuade Realty for all of your Residential Real Estate needs; especially in the Holly Springs area.