Crabtree Valley, NC

It's OK to Educate Yourself. But Unless You Buy and Sell Real Estate for a Living, It's Best to Work With a Professional.

So you're ready to buy a new home.

Or maybe you're ready to sell your present home.

Whichever the case, if you don't buy and sell Real Estate for a living, or you stayed at a Holiday Inn Express last night, it's probably best to hire a professional.

I'm all about do-it-yourself for small projects, but a home is most likely the biggest investment you'll ever have.

Why take a chance on making a mistake?

If you're in the Raleigh/ Cary/ Apex area of North Carolina, give me a call.

Because all the education in the world is helpful. But if you don't do this every day, the chance for error is too great to take.

And making a mistake in Real Estate can be VERY costly.

About The Author

Craig Rutman is a North Carolina Residential Real Estate Specialist that can assist you with the purchase and/or sale of real estate in the Raleigh - Cary – Apex metro areas; or any place else in the country by connecting you with a relocation professional in your destination of choice.

To find all available homes for sale in the Triangle area of North Carolina, please visit www.justnchomes.com

Call me TODAY at 919-349-9530

Email me with your Raleigh - Cary – Apex area questions

I sat down this morning and completed a market analysis for a client. This is a lovely couple that bought a beautiful townhome in Cary, NC five years ago. They paid a fair price, and have wonderful upgrades. Once I looked at the numbers however, I felt like I was in an "I Love Lucy Show". I thought, "I've got some explaining to do!" I was going to recommend they list $35,000 below what they paid. How can this be?

While most properties in Cary have maintained their value, there is now a large supply of new townhomes on the market. As a result, overall prices have dropped for resales, and new construction is priced to sell at lower prices than several years ago. Builders caught on to the need for upscale, low maintenance, affordable homes. Home buyers can search for homes in Cary NC neighborhoods and find beautiful townhome properties in developments such as Cary Park, Greystone, Amberly, and Weldon Ridge among others. Builders saw this area as a sweet spot for first time homebuyers and targeted those looking for a great value and real estate tax credits.

West Cary provides easy access to the RDU airport and Research Triangle Park which employs around 50,000 people. The schools here are great, Cary neighborhoods are safe and the location is ideal. The Town of Cary offers many amenities that appeal to residents of all ages.

Here is a snapshot of market statistics for West Cary townhomes (at least 2 bed, 2bath)

Timeframe: Sept - Nov 2009

Currently Active Townhome Listings : 123

· List prices: between $139,500 - $390,500

· Average list price: $208,975

Sold Townhomes in West Cary:

· 110 homes closed; price between $186,824 and $320,000

· Average sales price: $181 891

Lease / Option

In Cary NC where we expect our real estate market to rebound sooner than other parts of the county, a lease-to-own plan can be an ideal solution for both sellers and buyers. From a seller's perspective, it can tie in a buyer for a property that may not otherwise sell now. For a buyer, it can lock in today's rock bottom prices, yet the buyer does not need to obtain financing for a period of time. Here's how it works:

A lease-option is a simple lease agreement where the buyer/tenant pays rent to live in a property for period of time. The difference is there is an "option" to buy the property at a certain price and within a given timeframe. The option is a deposit that the buyer/tenant pays to lock in price and other terms in exchange for the future purchase of the property. Typically, if the buyer/tenant decides not to purchase the home as agreed, he forfeits some or all of his option or deposit money.

Considerations for both Parties

Like everything, there are pros and cons for both parties to consider. The key is to reach a balance such that both parties feel the advantages outweigh the concerns enough to proceed.

The owner/seller secures a buyer that may otherwise not be able to commit to purchase immediately. He also receives rental income for the period of time prior to the actual sales transaction. However he also becomes a landlord, with all of the responsibilities associated with it.

The buyer/tenant is able to move in and enjoy the property without having to secure financing immediately. He is able to lock in a current price, anticipating the price of the home will actually be greater than if he were to wait and buy at a later time. If however he decides not to buy the home, he loses his option money.

Each contract is unique and in the end the terms are whatever both parties have negotiated. It is advised to have a real estate attorney draft or review the final contract of this type of transaction.