About Kernersville's Somerset Crossing

Somerset Crossing, Kernersville, NC is typical of the broader economy. SLOW !

For 2009 there has been 1 sale, there are 2 Active listings, 3 Expired and 2 Withdrawn listings according to the MLS tracking.

The great news is that this neighbor seems to be weathering the storm with respect to home values. In Kernersville, homes that are in goo condition and priced in line with current purchase appraisals there is a realatively strong market. Expect a slight appreciation in value over the next couple of years as inventories and stressed sales in the area and region are worked out of the market.

www.RealEstateWorkHorse.com

This is a description of how I answer customers on lease purchases;

With lease purchase, the terms become what the owner and leaser negotiate and agree to terms on. That is where I come in and can help tremendously. This is where you choose me as your representative. We communicate on the terms that you are comfortable with and hopefully the seller/owner will accept. Then negotiate! One issue that is generally asked for is a statement from a mortgage officer on the expected ability to purchase. (Also this gives you a chance to work toward any criteria that would be involved.)

One item that I always try to get for my buyer is to have some portion the rent to go toward the down payment. (usually 5 - 10% of rent)

A SIMPLE answer is that generally the lease is equal to what the mortgage payment is for the owner. This can vary, but is a good rule of thumb.

Seller will consider short term lease. Seller will want some cash up front to make sure house does not get tore up. Non refundable if house is not purchase (that to let the lease expire)

I would be glad to talk and advise on where to go from where you are at and also explain the Home buyer tax credit. Contacting a mortgage officer would be a great benefit. It does not cost any thing to see where you are and does not commit you to anything. I can give you an extensive list but highly recommend Andy Pilcher with WR Starkey.

Please email me to set up a time we can discuss this and best phone number ( would like to be at the office in case I need any information)