Would-Be to Should-Be

Some would-be buyers have emotional reasons to own a home like having a place of their own where they can raise a family, feel safe and secure and enjoy their friends’ company. Other buyers’ dominant reasons might be financial in nature such as building equity or lowering their cost of housing.52407681-250.jpg

Regardless of what might be motivating people to want their own home, it is easy to justify that now is a good time to purchase. Let’s look at a $250,000 example using a FHA loan.

The total payment will be about $1,835 dollars a month. If the payment is lower than the rent a person is paying, that should encourage a person to continue investigating.

In this example, when you consider the monthly principal reduction, the monthly appreciation and the tax savings, even with money added for monthly maintenance, the net cost of housing is less than half the total house payment.

Considering all those advantages, the would-be buyer is spending over $1,100 per month more to rent than it would be to own. In a year’s time, they would lose close to $14,000 which is more than the down payment of $8,750 required on this price home.

Most would-be buyers understand that a home is a big investment but they may not understand the advantage of the leverage caused by the low down payment mortgage. The benefits extend beyond a return on the down payment but to the value of the home.

In this example, the $8,750 down payment grows to an equity of $73,546 in seven years based on 2% annual appreciation and normal amortization on a 30-year loan. If you calculated that as a rate of return, you’d be challenged to find anything that could compare with it.

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To see what your numbers might look like, check out this Rent vs. Own. If you need any help or have any questions, contact us. Part of our greatest satisfaction is helping would-be buyers understand why they should-be.

Give me a call to discuss your plans to own! 252-916-5048

North Ridge CC Beauty in Raleigh

7401 Spyglass Way, Raleigh NC 27615
North Ridge

$919,000

Link to Listing

Have you dreamed of waking up every day like you are on vacation?

Open your eyes every morning to one of the most beautiful views of North Ridge Country Club‘s Lake’s Course.

Fix coffee and breakfast in the beautiful kitchen that has amazing views of its own through the breakfast room.

Read your newspaper and enjoy your breakfast on your own private deck off the master bedroom.

After a nice breakfast overlooking the gorgeous azaleas and dogwoods, go for a quick swim in your heated pool amidst the beauty that surrounds you at every turn.

Does this sound idyllic to you? It is… and more.

The 6,075 square foot home is filled with beauty and custom touches throughout. The great room with a tongue and groove ceiling would be a fabulous room for your family to gather around the stone fireplace in the winter while watching the snow fall (that we occasionally get in Raleigh) through the floor to ceiling windows.

In spite of the size, it still has the comfy feel of a real HOME. It lives like a ranch with three bedrooms and three and a half baths on the main level. The basement is a home within a home… if you have a nanny or in-laws who you want to live with you, this is the home for you! In addition to the apartment, there is an office and a billiards room/family room that has the same beautiful views as upstairs!

The downstairs apartment even has its own entrance!

This meticulously maintained home with a manicured yard is located close to shopping and many great restaurants. WORTH GOING TO SEE… YOU WILL FALL IN LOVE!

SEE THE VIRTUAL TOUR HERE

Directions: From Falls of Neuse Rd, turn on Hunting Ridge Rd into North Ridge
subdivision. Left on Rainwater. Left on Spyglass. House is on Left.


For more information, or to arrange a time
to view this property, call the Joe Ward team today!

From left to right, Kellie McDonald (919-961-2720), Kate Mullis (919-219-8036), Joe Ward (919-518-8182), Valerie DeLoach (252-916-5048), and Deborah Swainey (919-412-8650).

We are a real estate team who cares about our clients. If you are considering
selling your home and would like some honest, professional, and
experienced guidance,
please contact us today.

Connect with us on social media to learn more about our team and
how we can help you find your new home!

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Divorce in Raleigh, NC Real Estate Market

WHEN YOU CAN’T CUT THE HOUSE IN TWO…

70% of divorces involve real estate.

As a Certified Divorce Real Estate Professional, I am here to help both parties involved through a smooth yet emotionally difficult process when they need to sell the marital home and purchase new homes moving forward.

As a member of your professional divorce team, my goal is to:

  1. Help clients understand the legal and tax aspects of divorce in regards to the sale of the marital home and other real estate.

  2. Offer alternatives to the usual mistrust and the emotional responses as a result of dividing real estate assets.

  3. Work with both parties together to help them save and make money now and down the road with regards to real estate.

  4. Work with both parties, not just one, in selling the marital home for the best price.

The sale of the marital home is not an isolated decision. There are short and long term financial, emotional and tax consequences. As a Certified Divorce Real Estate Professional, I can offer my clients the best guidance regarding the opportunities of selling the marital home. The goal should be a client that has their individual needs met and is making informed decisions from a knowledgeable professional.

Contact me today to discuss your options. It’s best to discuss BEFORE you make decisions.

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VALERIE DELOACH
the Joe Ward team
RE/MAX UNITED
Cell: 252-916-5048
valeriedeloach@gmail.com

Let’s Connect!
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Pricing Your Home To Sell in Raleigh, NC

If you are planning to sell your home in the Triangle market, you may be tempted to try listing it at a high price just to see if you can get it. You see that houses in your neighborhood are selling in a matter of days with competing offers and think, “Why can’t I get a piece of that pie?”

DON’T DO IT.

Pricing your home appropriately from the beginning is critical in selling it at the best price. Research shows that if you price your home too high, then you must lower the sales price numerous times before it actually sells and you end up selling it for much less than you should have.

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In the Triangle market in 2016, homes that were priced appropriately from the beginning sold on average at 99.55% of the list price. On the other hand, if it was priced too high in 2016, then it ended up selling at 92.76% of the original sales price!

If you price your home too high, some potential buyers won’t want to look at it at all, while others will simply schedule an appointment, go look at it, then walk away without making an offer.

A lot of sellers who interview Realtors will choose the listing agent who suggests the highest price for their property. BEWARE… You want to choose a listing agent, like Joe Ward, who provides the best comparative market analysis and explains how your home should be priced to sell quickly. You want a Realtor who tells you the truth, not one who tells you only what you want to hear.

In a market like ours, you don’t want your home to sit on the market for sale for weeks on end… you want your Realtor to have to send out an email like this one I received last week on a $240,000 home I was planning to show the day it went on the market:

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I also had a situation a couple of weeks ago where a townhome went on the market on Wednesday with showings starting at noon on Saturday. I scheduled an appointment for noon on Saturday. Thursday I received an email that someone had made a strong offer SIGHT UNSEEN and they had accepted the offer!

So choose the RIGHT professionals to work with in the selling of your home and the purchase of your new home. In this market, you need someone who can help you line the dominoes up right to help you avoid moving twice!

Pricing your home to sell is the first piece of the puzzle…

We are a real estate team who cares about our clients. If you are considering buying or selling your home and would like some honest, professional, and experienced guidance, please contact Valerie DeLoach at 252-916-5048 or valeriedeloach@gmail.com.

 

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THIS IS GOING TO BE THE YEAR!

Every year, it seems like the same things are on the list but this could be the year you really do invest in a rental home.Resolutions.png

Rents are climbing, values are solid and mortgage rates are still low for non-owner occupied properties. A $150,000 home with 20% down payments can easily have a $300 to $500 monthly cash flow after paying all of the expenses.

There are lots of strategies that can be successful but a tried and true formula is to invest in below average price range homes in predominantly owner-occupied neighborhoods. These properties will appeal to the broadest range of tenants and buyers when you’re ready to sell.

Single family homes offer an opportunity to borrow high loan-to-value mortgages at fixed rates for long terms on appreciating assets with tax advantages and reasonable control.

This can be the year to make some real progress on your resolutions. The first step may be to invest some time learning about rental properties by attending a FREE webinar on January 4th at 7:00 PM Central time zone by national real estate speaker Pat Zaby. Click here to register. If you can’t attend live, by registering you’ll be sent the link to watch at your convenience.



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From left to right, Deborah Swainey (919-412-8650), Joe Ward (919-518-8182),
Valerie DeLoach (252-916-5048), and Kellie McDonald (919-961-2720).

We are a real estate team who cares about our clients. If you are considering
selling your home and would like some honest, professional, and
experienced guidance,
please contact us today.

Connect with us on social media to learn more about our team and
how we can help you find your new home!

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It Isn’t Final Until It’s Funded

Mortgage approval isn’t final until it’s funded.  Things can change prior to the loan being closed that can affect a pre-approval such as changes in the borrowers’ financial situation or possibly, factors beyond their control like interest rate changes.40783733-250.jpg

Good advice to buyers is to do nothing that can affect your credit report until the loan closes. Opening new credit cards, taking on new debt for a car or furniture or changing jobs could affect the lender’s decision if they believe you may no longer be able to repay the loan.

The benefits of buyer’s pre-approval are definitive: it saves time, money and removes the uncertainty of knowing whether the buyer is qualified. The direct benefits include:

  • Amount the buyer can borrow – decreases as interest rates rise
  • Looking at “Right” homes – price, size, amenities, location
  • Find the best loan – rate, term, type
  • Uncover credit issues early – time to cure possible problems
  • Bargaining power – price, terms, & timing
  • Close quicker – verifications have been made

It is a very common practice for mortgage lenders to require income and bank verifications and to re-run the borrowers’ credit one final time just prior to closing. Mortgage approval isn’t final until it’s funded.


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From left to right, Deborah Swainey (919-412-8650), Joe Ward (919-518-8182),
Valerie DeLoach (252-916-5048), and Kellie McDonald (919-961-2720).

We are a real estate team who cares about our clients. If you are considering
selling your home and would like some honest, professional, and
experienced guidance,
please contact us today.

Connect with us on social media to learn more about our team and
how we can help you find your new home!

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Ranch Townhome in North Raleigh!

2705 Cottage Circle, Raleigh NC 27613
$175,000

See Listing Here

Showings Starting on 11/18, but the listing is active so you can schedule a showing today! Call one of our buyer’s agents to see this ranch town house in a fantastic location! It’s the only townhouse for sale in North Raleigh that has a 1st floor master!

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Updated Kitchen
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Open from dining are to kitchen!

The kitchen and baths have been updated with all new floors. Stainless appliances with a pretty backsplash. The charming kitchen has a counter that opens it up to the dining/living area to make it perfect for entertaining friends or family.

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Master Bedroom
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Master Bedroom

The master bedroom has a large walk-in closet with plenty of space. The best thing about it is that it’s on the main floor!!

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Living Room with fireplace
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Dining/Living Room

The bright family room is open to the kitchen and has a gas fireplace.

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Private Patio
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Large green space

Private patio flows into large green space. Close to Stonehenge, Crabtree, Lake Lynn and more!

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Directions: Take Creedmoor Road towards downtown Raleigh. Turn right on Mapleton Lane. Mapleton Lane becomes Cottage Circle. Townhome will be on the left.


For more information, or to arrange a time
to view this property, call the Joe Ward team today!

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From left to right, Deborah Swainey (919-412-8650), Joe Ward (919-518-8182),
Valerie DeLoach (252-916-5048), and Kellie McDonald (919-961-2720).

We are a real estate team who cares about our clients. If you are considering
selling your home and would like some honest, professional, and
experienced guidance,
please contact us today.

Connect with us on social media to learn more about our team and
how we can help you find your new home!

facebook wordpress twitter linkedin pinterest instagram googleplus-2

Sitti: Authentic Lebanese, Raleigh NC

I met a dear friend for lunch, which is always a treat. Since she works downtown, we decided on Sitti. It’s one of my favorites in Raleigh, but I haven’t been in a while.

It didn’t disappoint!

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Sitti is located on the corner of Wilmington Street and Hargett Street in an old restored building. It’s a great location so that you can either sit near a window or (if the weather is nice enough) you can sit at one of the small tables on the sidewalk on Wilmington Street. Sitting outside in the front is fun during the workweek with the hustle and bustle of downtown Raleigh. There is also a great outdoor seating area in the back which is much more private.

There is a reason that Sitti is ranked #7 out of 1108 restaurants in Raleigh! The menu has a little bit of everything, so no need to fear if you don’t know if you are a fan of Mediterranean food. If you are not feeling very brave and are afraid you may order something you don’t like, then you can order one of the Lebanese Tastings on the menu. Each “Tasting” has six different popular items to try so that you can see what may be your favorite! The Lebanese Tastings options are on both the lunch and dinner menu. And if you go on a Monday, then it’s half price French and Lebanese wine to pair with your meal.

Speaking of menus... they have now released their new Fall Menu.

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It has pumpkin and sweet potato ALL OVER IT! Even the fresh pita bread brought out before the meal was half regular pita bread and half sweet potato pita. It was heavenly.

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I am a creature of habit and so I admittedly always get pretty much the same thing whenever I go to my favorite hotspots, but I decided to do a little something different today. I got the Chicken Pesto Burger (pic below). That is grilled chicken (clearly marinated in some sort of magic concoction), spring mix, feta cheese dip (straight from heaven), and grilled apples on ciabatta bread. I would highly recommend it!! Not to mention it comes with Sitti’s fresh cut french fries that I’m pretty sure I could eat as my entire meal.

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My normal “Go-To” order is the Tri-Color Quinoa Salad with salmon. They change the salad seasonally and it is AMAZING. I also get the Feta Cheese Dip pretty much every time I go. They have taken it off the lunch menu, but they are usually sweet and will let feta-cheese dip addicts like me order it at lunch anyway.

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The last time we went to dinner there for a friend’s 40th birthday (great place for groups… pic above), we asked the waiter what he would recommend we try… he recommended the Halloumi as an appetizer. WOW. Halloumi is mediterranean cheese seared and topped with dates, roasted almonds, olive oil, and fresh thyme. Trust my recommendation… it’s SO GOOD.

Finally, the drinks… My husband and I love our craft cocktails. The Beirut Betty at Sitti is one of my favorites. It’s gin, St. Germaine elderflower liqueur, and fresh grapefruit juice. You can see for yourself how the Beirut Betty tastes, or you can do like we do and order one of all of them to choose our favorites! LOL…

No matter what you get, you will be happy that you took the time to go eat at Sitti. It’s only one of the great gifts that Empire Eats has brought to Raleigh. Other Empire Eats Raleigh restaurants include Gravy, The Pit (more on The Pit and their great food and banana pudding to die for in a future blog), Morning Times,and Raleigh Times.


 

This review was written by Valerie DeLoach of the Joe Ward team. Go like her page on Facebook to get her newest blogs. She was not paid or given anything in return for this endorsement… she just genuinely loves this downtown Raleigh HOT SPOT!!!!!!!

We are a real estate team who cares about our clients. If you are considering buying or selling your home and would like some honest, professional, and experienced guidance, please contact Valerie DeLoach at 252-916-5048 or valeriedeloach@gmail.com.

 

 

Meticulously Maintained Home in Wakefield

3116 Queensland Road, Raleigh NC 27614
WAKEFIELD

$369,900

Link to Listing

Are you or someone you care about looking for a home in the Wakefield neighborhood? If you are looking for a neighborhood with sidewalks, playgrounds, swimming, tennis, clubhouse activities, golf, and gorgeous old trees… then look no further! Wakefield is conveniently located with an abundance of recreational activities and restaurants right outside your back door.

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This meticulously maintained home with a manicured yard is located in Carrington at Wakefield Plantation which is within walking distance to Wakefield Tavern and (my personal favorite) Wakefield Wine Cellar.

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This 3,300 square foot home has so much beauty and custom touches. The grand, two story foyer flows into an open staircase and leads into the one of a kind family room.

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The family room has gorgeous, Italian tile and tons of natural light.

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Cherry hardwoods grace most of the first floor. The molding and the tray ceiling add to the beauty of the formal dining room. Custom Hunter Douglas shades adorn the windows.

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The chef’s kitchen is well appointed with granite countertops and stainless steel appliances – a Kitchen Aid double oven with a five burner gas range and a Kitchen Aid dishwasher.

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Both the breakfast room and the sun room have custom solid wood plantation shutters and tons of natural light. The sun room opens to the back deck leading to the “perfect for entertaining” backyard!

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The first floor master bedroom suite is a calming oasis with new carpet and a stunning master bathroom that was remodeled in 2010. Other updates include the replacement of the downstairs air conditioner and a new hot water heater in 2015.

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The remodeled master bathroom has high grade granite with oil rubbed bronze vessel sinks. The huge walk-in closet is everything you need!

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Upstairs there are four bedrooms and two full bathrooms. The fifth bedroom has a closet and can be used as either a bedroom or a bonus room! All bathrooms are updated and in 2014 the toilets in the home were replaced with Kohler top grade energy water savers.

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The backyard has a custom stone patio with a retaining/seat wall and fire pit. Perfect spot for entertaining friends or relaxing with your family.

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See the Virtual Tour Here

Directions: North on Falls of Neuse, Right onto Wakefield Pines, Right onto Wakefield Crossing, Left onto Cumberland Road. Home is on the right.

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For more information, or to arrange a time
to view this property, call the Joe Ward team today!

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From left to right, Deborah Swainey (919-412-8650), Joe Ward (919-518-8182),
Valerie DeLoach (252-916-5048), and Kellie McDonald (919-961-2720).

We are a real estate team who cares about our clients. If you are considering
selling your home and would like some honest, professional, and
experienced guidance,
please contact us today.

Connect with us on social media to learn more about our team and
how we can help you find your new home!

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Waiting to Buy? Do The Math!

Some people wait to buy a home until they have 20% down payment to avoid paying the mortgage insurance which is required by lenders when the loan-to-value ratio is greater than 80%, with the exception of VA loans.

To illustrate a typical situation, let’s assume that buyers have $10,000 for a down payment on a $200,000 home. They could purchase it today with a 95% loan or save another $30,000 in order to get an 80% loan without mortgage insurance.

If it took three years to save the additional down payment, the $200,000 home at 3% appreciation would cost $218,545. A 20% down payment on the increased sales price would be $43,709, less the $10,000 the buyers currently have leaves them $33,709 to save which would amount to $936.36 a month. They would secure a $174,836 mortgage at the then current mortgage rates, which in all likelihood, will be higher than today’s rates.

The alternative is for the buyer to purchase the home today with a 95% loan at today’s low interest rates plus approximately $85 a month for mortgage insurance depending on their credit score. At the end of three years, the unpaid balance would be $179,548.  Assuming the home will be worth the same $218,545, the buyer’s equity would be almost $39,000.  To reduce the mortgage to the same amount as the first example, the buyer would need to make an additional $125 a month principal contribution above the normal payment. Then, the mortgage would have an unpaid balance at the end of three years of $174,775.

When there is sufficient equity in the home, the mortgage insurance is no longer required. Some lenders may drop the mortgage insurance requirement with an appraisal to provide proof. In other situations, it may require refinancing to eliminate the insurance.  Call to discuss options that may be available to you.

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From left to right, Deborah Swainey (919-412-8650), Joe Ward (919-518-8182),
Valerie DeLoach (252-916-5048), and Kellie McDonald (919-961-2720).

We are a real estate team who cares about our clients. If you are considering
selling your home and would like some honest, professional, and
experienced guidance,
please contact us today.

Connect with us on social media to learn more about our team and
how we can help you find your new home!

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