Home Buying Tips For Moving Up or Downsizing in Raleigh, NC

Changing homes in the Triangle, NC area of Raleigh, Cary, Durham or Chapel Hill can be a very exciting and challenging process. The average time a family owns a home is around seven years so a lot of families who stay in an area end up selling their first home and moving to another, sometimes just a few miles away. There are many reasons people move locally: An addition to the family, a job change, divorce, children moving away from home, other life changes. If you fit into one of these categories you’ll be interested in the services of FOR HomeBUYERS an Exclusive Buyer’s Agecy. Let’s look closer at some of the dynamics of a local move:

Home buying tips for moving up or downsizing.

The primary reason people change homes is to have more space, but the move-up process also comes into play when a family wants to move to a better school system. Home buyers are also motivated to buy nicer homes when a job or career change makes a nicer home possible. Since you are already living in an area you often have a general idea about neighborhoods and home types, but you also benefit from having an inside line on the real estate markets in areas you consider. To choose the best home you want to have a real estate professional on your side.

The timing.

The ideal way to time a move-up purchase is to have a flexible buyer in place to buy your current home while you look for and negotiate a purchase of your new home. This way you have a good chance to be able to close on your current home and then rent the home from the new owner for a few days or weeks while you close on your new home. Unfortunately this is very difficult to coordinate.

If you are downsizing it sometimes makes sense to sell your large home and then move to an apartment or rental home briefly while you locate, negotiate, and close on your new smaller home. Even though this strategy has you moving twice it helps you clear your life of many of the belongings you might have acquired that you no longer want.

The financing.

Getting financing to make this project work is sometimes easy, however to make it work with the least total cost and the least inconvenience takes more thought and preparation. As mentioned above the best case is having a flexible buyer in place for your current home before you buy your new home. If you can arrange for the actual closing of your old home before the closing of the new home the loan process is usually easy. But, since the sale and purchase both have a lot of events which you don’t directly control it is usually a good idea to have a “plan  B” in place. This would be a way to close on the new home before the old home closes. These types of loan arrangements vary by market and by lender but as an example a lender may give you a line of equity on your current home that you can use as a down payment on the new home. Alternatively a lender may allow you to purchase the new home with a large loan and a smaller second mortgage. The large loan you would keep after the sale of the old home is completed but the small loan you pay off with your proceeds from the sale of your old home. For the best answers to these decisions talk to one of our FOR HomeBUYER’S  Exclusive Buyer’s Agents serving the Triangle and surrounding areas.

Finding the “perfect” home.

As a second or third time buyer you face some challenges that didn’t exist when you bought your first home. The primary one is that you now probably have some very distinct ideas of what you want and what you don’t want. The problem is that a house with everything you want and nothing you don’t want may not exist. To find a home that is the optimal compromise you really need an advocate who will help you objectively review and analyze the homes you visit. That is exactly why exclusive buyers agents are the best help available for a local buyer changing homes. Since an exclusive buyer agent does not list homes and does not represent any sellers they don’t have the huge conflict of interest that regular real estate agents have. Exclusive buyer agents don’t push you into homes. They take the time to understand your needs, explore the whole market of homes, and explain all the tactical options you should know about to make your move a success. To contact FOR HomeBUYERS you may text or call 919-219-9878.

Hottest Neighborhoods with Homes for Sale in Raleigh & Cary

That these three neighborhoods have been chosen as the hottest neighborhoods comes as no surprise to FOR HomeBUYERS, an exclusive Buyer Only Agency. We have shown and helped many Buyers purchase homes in these communities. The locations, the amenities, the schools and much more are very appealing to families and singles alike. For more detailed information or to preview homes for s in any of these neighborhoods contact us at 919-219-9878.

Cary Park, Umstead and Stonehenge are the hottest neighborhoods in the Raleigh-Cary market, according to real estate data and brokerage company Redfin.

Redfin’s predictions of the three hottest residential areas in each of the largest U.S. metros are based purely on the number of clicks and marked “favorites” by interested visitors to its website.

In Cary Park, located in the 27519 ZIP code in west Cary, the median sale price is $245,000, the median number of days on the market is 21 and the average percentage of sale-to-list price is 98.1 percent.

In Umstead, located in the Brier Creek area of west Raleigh, primarily in the 27617 ZIP code, the median sale price is $243,400, the median number of days on the market is 19 and the average percentage of sale-to-list price is 98.7 percent.

In Stonehenge, located in the 27613 ZIP code off Creedmoor Road in north Raleigh, the median sale price is $293,500, the median number of days on the market is 13 and the average percentage of sale-to-list price is 98.6 percent.

Rebecca Troyer manages the day-to-day process of delivering the daily digital content and the weekly print edition for Triangle Business Journal. Troyer also handles inquiries on news coverage and newspaper deadlines.



Skip the Pain: 7 Things That Will Fill You With Buyer’s Remorse

FOR HomeBUYERS, as Exclusive Buyer Agents, try to help you evaluate all of these points and even more when you are considering your new home purchase in order to avoid Buyer’s Remorse later. We are offering this information in order to help you think through your specific needs and wants in a new home in the Raleigh-Triangle, NC Homes market. If you have questions, you may text or call 919-219-9878.

We’re here to share an unsolicited word of caution. All those custom details you’ve dreamed about? Make sure you really, really want them before you put in an offer—and that, in order to get them, you’re not sacrificing other things that will ultimately drive you bonkers.

Is the big backyard really worth all the hours of mowing and landscaping? Is your desire for more space making your home feel less cohesive? Are those floor-to-ceiling windows, which made you fall in love with the home?

We could go on and on about the flip sides that have the potential to fill you with regret. But we talked to some experts in the biz and boiled the list down to seven features. Pay close attention to these things that might set you up for the dreaded buyer’s remorse.

1. Don’t go big, just go home

You may want the space to spread out, but consider what rooms you’ll actually use once you move in.

Do you really need five bedrooms, a game room, an office, and two formal living rooms? If you buy too big a home, you might end up regretting it when it comes time to cool, heat, and clean the place.

And don’t forget room size. If the space is too big, your furniture will seem miniaturized. To avoid going too big (or too small), bring a tape measure and measurements of your own furniture to verify everything will look the way you want.

2. Don’t get boxed in

On the other hand, if you’re planning to stay put for a while, consider the home’s architecture. You may want expand one to day, and not all homes are set up for that.

“Many buyers of split-foyer-style homes—where you enter and you’re at midlevel with the stairs and must go up or down—complain that it is difficult to expand their home,” says Cathy Baumbusch, a Realtor® in the Washington, DC, metro area.

Instead, look for more flexible, one- or two-story homes where additions are easier.

3. Don’t let your stairs become an uphill battle

Finally, when you’re walking the floor plan, think of how you’ll use the space when you own it, especially if you’re looking at an older home.

“Most buyers in my area want the standard three-story—two upper floors and a basement—Colonial-style home,” Baumbusch says. “This type of home often has the laundry room in the basement, which means the family has to haul laundry up and down two flights of stairs.

“It can get old fast.”

4. Get off the island … maybe

What we often consider to be an amenity can create remorse. Take, for example, the kitchen island. It looks cool. It adds more prep space. We all want one. Or do we?

“Kitchen islands can be a mistake if you don’t take your ‘work triangle’ into account,” Baumbusch says.

Walk around the kitchen, following your usual prepping and cooking pattern. If you’re bumping into the island, you may end up hating it.

5. Pay attention to what’s missing

If the home is modern (or previous owners did some upgrading), take a hard look and ask yourself if anything is missing.

Often architects and remodelers will take something out to give a room a cleaner, more minimalist feel, and you may feel the loss after you move in.

“There is a trend to eliminate the bathtub in favor of just a shower,” Baumbusch says. “Some homeowners regret that decision, because sometimes they find themselves wishing for a nice long soak after a tough day.”

6. Pools may not be so cool

You step outside, see a pool and immediately picture all the backyard parties you’re going to have. We know, we know, pools are cool. But pools are also a huge expense.

On top of the regular monthly maintenance and cleaning (and there will be a lot of that), pools in seasonal areas are often opened and closed by a pro. Those costs add up.

“It can cost upward of $600 just to open a pool and prepare it for swimmers,” Baumbusch says.

Moral of the story: Pools are a big regret if the expenses cause a burden. Make sure you can comfortably afford the upkeep.

7. Don’t fall for fads

Today’s popular ice-white appliances, steel countertops, and Edison bulb light fixtures are yesterday’s saloon doors, linoleum, and brass hardware.

If you buy a house just for its trendy look, you may end up regretting it when the styles change, especially if you have to sell the outdated design. Instead, Baumbusch recommends looking for timeless features.

When all is said and done, look for a classic, well-designed home to ensure the smallest chance of stinging regret. It may not sound like as much fun, but you can always add a little (or a lot) of your style in the finishing touches.


Angela Colley lives in New Orleans, where she writes about buying, selling, and renting news for realtor.com. Her passions include animal rescue, photography, historic homes, and Southern architecture.



Triangle Parade of Homes 2015

Don’t miss this fantastic display of homes located throughout the North Carolina Triangle Area. If you are looking to purchase a new home or just get some great remodeling ideas or ideas for your future dream home, the Parade of Homes is where you want to be the next couple of week ends.

The Annual Parade of Homes, N.C.’s largest open house, presented by the Home Builders Association of Raleigh-Wake County and the Home Builders Association of Durham, Orange and Chatham Counties, will run on Oct. 3 & 4, 9 – 11, and 16 – 18, 2015 from 12-5 p.m.View Parade homes listed for sale from $ 175,000 to $1.5 Million. This annual, free tour that is open to the public is the best way to view the newest homes and the newest communities throughout the Triangle. This year the parade features over 250 new homes.

Visit the following web site to get more details and view some of the parade of homes online. http://triangleparadeofhomes.com/

How to Choose the Best Raleigh Real Estate Buyers Agent

All North Carolina real estate Buyers Agents are not the same!

Most Raleigh Real Estate Buyers Agents work for Real Estate Agencies that list homes for sale. These agents may also take listings for their company, which in this case, they also work as Sellers’ Agents. If you call this agent on one of their listings, they must work for you as a “Dual Agent” (representing both the Buyer and the Seller at the same time)

Some Buyers Agents work under a “listing agent” and then works with prospective buyers who call about the homes for sale by the “listing agent.” NC real estate law refers to these agents as “Designated Agents.”

Neither of the above types of Buyers Agents are real 100% Buyers Agents. To learn more view the NC Real Estate Commission’s “Working With Real Estate Agents” brochure.

Buyers Agents who work for an Exclusive Buyer Agency are the only ones who can guarantee 100% exclusive buyer representation from the beginning of your home search to the end of your transaction. FOR HomeBUYERS was established in 1991 and was the first and only Raleigh Exclusive Buyer Agency in Wake and most of the surrounding counties. Our 23+ years of service speaks for itself along with our many, many satisfied client testimonials.

Here is what an Exclusive buyer’s agent is in a nutshell: Think of the Acromym, “PNAR”.

P Your Protector. This licensed agent knows how to help you avoid getting harmed in real estate purchases (paying too much, getting a house with hidden defects, etc) and how to protect your best interests. In most states of the US, they can also opt to be a transaction broker or faciitator all of the time, or under certain circumstances. You are best protected if you sign up to work with a licensee as a buyer’s agent.

N Your Negotiator. A good buyers agent is an excellent negotiator. Negotiation skills are quite different from the skills of a salesperson. Buyer’s agents should be available to you to not “sell” the property to you, but rather be outstandingly proficient in the area of negotiation.

A Your Advocate. During the entire process of looking for and negotiating on your behalf for a property, your buyer agent should be an advocate for you. They should know the positions to take and the clauses to write up in your offer to help get you the best price and terms.

R Your Representative. North Carolina offers various ways consumers can choose to be represented. Doesn’t it make sense to pick a representative relationship that would most benefit you as a buyer? A skilled representative will interact with the other side of the table in a way that makes your motivation and highest acceptable price invisible to the other side.

Not all buyers agents are alike, and it is very smart to carefully interview and select the best. It is after all, the biggest financial transaction most of us are likely to make in a lifetime. Agent interview questionnaire.

Why Choose a Raleigh Real Estate Buyers Agent

With all the tools and advice available today you might think you can purchase a home without the help of a real estate professional.

The housing market, like politics, is basically local, and each state, city, and even neighborhood has a thicket of local laws or customs that you need to understand. For that, it helps to have a professional to guide you, preferably, a Raleigh real estate Exclusive Buyers Agent.

You might want to start by finding an agent who can represent your interests in the search. This is not as simple as it sounds. Sure, 85% of sellers list their homes through an agent – but those agents are working for the seller, not you. They’re paid based on a percentage, usually 5 to 7% of the purchase price, so their interest will be in getting you to pay more. If you choose a Buyers Agent who works for the company that has the home listed you may encounter a conflict of interest.

That is why you need what’s known as an “exclusive buyer agent.” Sometimes buyer agents are paid directly by you, on an hourly or contracted fee. Most often they split the commission that the seller’s agent gets upon sale. A buyer’s representative has the same access to homes for sale that a seller’s agent does, but his or her allegiance is only to you.  FOR HomeBUYERS is a Raleigh real estate Exclusive Buyer Agency. We never have a conflict of interest because our agents are Exclusive Buyers Agents and never take listings or work for sellers.

To complicate matters, there are hybrid agencies called either single-agency or dual-agency brokers. In both cases, an individual agent in the firm may represent either sellers or buyers, sometimes both, in the same transaction. Potential conflicts of interest abound in this situation, so if you are seeking a buyer agent but no exclusive buyer agent is available, make sure to ask the agent about conflicts of interest. Use our Agent Questionnaire to determine the agent’s loyalty in representing you.

For more information on Exclusive Buyer Agents and the level of representation you will receive Contact Us or call 919-878-1110, text 919-219-9878, or email Allen@ForHomeBuyers.com.

FOR HomeBUYERS serves the entire Triangle of North Carolina which includes Raleigh, Durham, Chapel Hill, NC.

How to Begin your Home Search in Raleigh, Durham or Chapel Hill, NC

The best approach to finding a new home for sale in the Triangle NC Area

First try to narrow down the location you wish to live in. The areas within the Triangle Area of North Carolina are quite different in many respects and even within the county itself. Wake County has several very desirable communities but each may have its unique appeal to the different home buyers. Your realtor can be helpful in guiding you to the community that best fits your need.

You should already know your price range, so you might begin searching homes in the price range and location on the internet. You may want to drive by some of the homes before asking your Real Estate Agent to show you the homes, as pictures can be deceiving.

Be sure to look at several homes to make comparisons before making your final decision. If you fall in love with the first home you see, still view several others to be sure. Different areas may give you more home for your money, so you may want to broaden your location requirements.

First time buyers are many times surprised and disappointed in the amount of house you can get for your money. As first time home buyers, don’t expect to find your ultimate “dream home.” Your first home may need to be a starter home. If you are picturing your “dream” home you may have a difficult time finding a home. Your Agent can be a great help in advising you on the realities of the current Real Estate Market and what you might find in your price range.

If you are beginning to think about a new home as a first time home buyer or if you are considering a relocation to the Raleigh, Durham, Chapel Hill /Triangle Area of North Carolina, FOR HomeBUYERS offers a no obligation consultation in which they will explain the benefits of Exclusive Buyer Representation, evaluate your needs and guide you to the areas in the Triangle that might best fit your needs and desires, and show you homes that are for sale in those areas.

Call today 919-878-1110 and speak with Allen Shaver, Broker- in-charge, to schedule your no obligation consultation

Top Home Buying Myths: Setting the Record Straight

It’s very important that you’re well informed of what is fact and what is fiction.

Whether you’re a real estate professional or first-time home buyer, the home buying process and real estate transactions can be stressful. There tends to be some common misconceptions in this process, so it’s very important that you’re well informed of what is fact and what is fiction. We’re here to dispel the home buying myths that could impact your decisions.

Myth #1: You don’t need a REALTOR®.

Before you bravely take on one of the biggest purchases or sales of your life, remember this: it’s not as easy as it looks. REALTORS® know all the ins and outs of the local area as well as the market in which you’re looking to buy or sell. Picking up the phone and calling a REALTOR® may be one of the best decisions you’ll make.

Consider interviewing an Exclusive Buyer’s Agent, as well as, one of the buyer’s agents working for a listing company. You may risk a conflict of interest in the latter situation.

Myth #2: The bigger the downpayment, the better off you’ll be.

Buyers’ immediate reflex is to put as much cash down as they can when buying a new home because they’ll borrow less, lower the monthly mortgage payments, and won’t need to buy mortgage insurance. However, putting 20% down is not a requirement and it’s not for everyone.

Thanks to Federal Housing Administration Loans (FHA Loans), you can put as little as 3.5% down. With this method, you’ll potentially have a lower interest rate, giving you more flexibility. Your money is not all tied up in your house like in a traditional down payment that can leave you with little or no extra cash to spend on home care, improvements, or any other unforeseen circumstances.

Talking with a lender very early in the home buying process will help you to fully understand what the best avenue is for you. There are many loan programs out there and it is important that you learn about what is best for you.

Myth #3: Appraisers set the value of a home.

The role of the appraiser is to produce a credible opinion of value that reflects the current market. Appraisers are not responsible for setting the value of the home and they also do not confirm a home’s sale price. According to David S. Bunton, President of The Appraisal Foundation, “Appraisers provide an analysis of the collateral, so that lenders understand the value of a property when making the loan decision.”

Myth #4: You need perfect credit.

Most people assume that you must have absolutely golden credit in order to get a loan, but that just simply isn’t the case. If buyers have less than perfect credit, lenders are often willing to work with them to get the best possible loan.

Credit is not the only thing that lenders look at when deciding to approve a loan, but your score will have an effect on the interest rate on your mortgage. Make sure you review your credit report and if any errors are found, they should be reported to the credit reporting bureaus before applying for a mortgage.

When you have selected a lender, pulling your credit report is one of the things they will do for you. They will review it and help with any problems that may show up on the report. They will advise you about your credit score and make an otherwise confusing process go as easy as possible. The lender and your Realtor will work together to help you begin the home buying process and make it go as smoothly as possible.

FOR HomeBUYERS, Inc., as an Exclusive Buyer’s Agency, will also be looking out for your best interest 100% throughout the buying process. Contact us today to learn more about Exclusive Buyer Representation.