Marc Iafrate, MBA - Raleigh NC Real Estate

Jumpstart your Real Estate career by joining the Firm ranked #1 in the Triangle!

Would you like to join our team as a real estate broker?

Triangle Business Journal has announced that Coldwell Banker - HPW was named the

#1 Best Place to Work for 2007 and 2008 in the Triangle in the large business category!


Want to find out why?

Just call me for more information and I will be happy to tell you why I joined
Coldwell Banker - HPW

Jumpstart your Real Estate career by joining the Firm ranked #1 in the Triangle!

Call - Marc Iafrate, MBA - (919) 877-8819.

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Marc Iafrate, MBA
Raleigh Real Estate Broker
Coldwell Banker, HPW
www.MarcIafrate.com
(919) 314-7797 Direct

We hope you enjoy this blog as much as we enjoy bringing it to you. We welcome your comments. If you are planning on buying or selling a home in the Raleigh area, we have you covered. We have all the resources and knowledge to make your real estate transaction worry free!

Raleigh residents get creative this year with over the top pumpkin carvings!


Looking for something a bit more creative than the standard Jack-O-Lantern? Why not try these ideas - a spooky cat, a haunted house or a vine design.

Pumpkins like these are fun and easy to do. In fact, many pumpkin carving kits come with patterns ranging from easy to elaborate. so try your hand at these for some extra scary fun this Halloween!

Marc Iafrate, MBA
Raleigh Real Estate Broker
Coldwell Banker, HPW
www.MarcIafrate.com
(919) 877-8819

We hope you enjoy this blog as much as we enjoy bringing it to you. We welcome your comments. If you are planning on buying or selling a home in the Raleigh area, we have you covered. We have all the resources and knowledge to make your real estate transaction hassle free.

We are very lucky in Raleigh in that our Housing Market is still strong unlike many other parts of the country. That said, there is a great selection of houses on the market and Sellers are willing to negotiate more than ever.

Here are some pointers for making the most of your Home search:

1. Take your time. Look at a number of homes and do not feel pressured to make an offer immediately for fear someone else will "steal it away". Homes are on the market longer these days due to inventory levels and price reductions are common during the listing period.

2. Negotiate with Builders. Now more than ever builders are willing to give discounts on upgrades and provide closing cost assistance.

3. Ask the Seller to make repairs to the property. They may be willing to do the work for you or give you an extra allowance off the price to cover the cost.

4. Ask for a Home Warranty with purchase. This warranty can cover unexpected costs and provide you with peace of mind.

5. Explore the Foreclosure Market. Foreclosed homes can be had a bargain, but make sure to work with a trusted local Real Estate Advisor and not some unknown website.

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Marc Iafrate, MBA
Raleigh Real Estate Broker
Coldwell Banker, HPW
www.MarcIafrate.com
(919) 877-8819

We hope you enjoy this blog as much as we enjoy bringing it to you. We welcome your comments. If you are planning on buying or selling a home in the Raleigh area, we have you covered. We have all the resources and knowledge to make your real estate transaction worry free!

Join us in supporting the YMCA of the Triangle's We Build People program.

This program raises funds for families who otherwise could not afford to participate in the YMCA programs and services. 100% of the funds this program raises stays right here in the Triangle area.

Let's make a difference in the lives of young adults by providing them with safe programs to have fun and play sports. Le't give them positive role models and opportunities to learn and reach their full potential.

Successful kids lead to successful communities.

To donate to We Build People, please contact us at Caroline.ProjectGiving@yahoo.com or call (919)314-7248.

Remember to ask about matching gifts from your employer, this doubles the impact of your gift!
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Marc Iafrate, MBA
Raleigh Real Estate Broker
Coldwell Banker, HPW
http://www.marciafrate.com/
(919) 877-8819

We hope you enjoy this blog as much as we enjoy bringing it to you. We welcome your comments. If you are planning on buying or selling a home in the Raleigh area, we have you covered. We have all the resources and knowledge to make your real estate transaction worry free!

This just released from NAR -

Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.

Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. "What we're seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region," he said. "It's unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we're hopeful most of the increase will translate into closed existing-home sales."

The PHSI in the West surged 18.4 percent to 109.5 in August and remains 37.8 percent above a year ago. In the Northeast the index jumped 8.4 percent to 79.8 and is 2.0 percent higher than August 2007. The index in the Midwest rose 3.6 percent to 84.5 in August and is 6.6 percent above a year ago. In the South, the index increased 2.3 percent to 96.0 but is 2.1 percent below August 2007.

Yun notes the unusual timing of contract activity in August. "Home buyers in July were hampered by overly stringent lending criteria in the months before the government takeover of Fannie and Freddie," he said. "August shows some unleashing of pent-up demand before the credit crisis accelerated in September."

He cautioned that the sampling size for pending home sales is smaller than the track on existing-home sales, so there is more volatility in the forward-looking series. "We need to see just how much of this gain holds up," Yun said.

NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said despite all the turmoil in world financial markets, home mortgages are available. "Mortgages have been harder to find, and availability and terms vary depending on credit score and location, but Realtors® can help buyers find reputable lenders while helping them navigate the transaction process," he said. "The recently enacted economic stimulus package should help housing by gradually freeing the flow of credit."

Yun now expects growth in the U.S. gross domestic product (GDP) to contract for two consecutive quarters, in the fourth quarter of this year and the first quarter of 2009, before expanding in latter part of 2009 as the housing market begins a steady improvement.
Looking at middle-ground assumptions, existing-home sales are forecast at 5.04 million this year and 5.41 million in 2009. Following national declines of 5 to 8 percent in 2008, home prices are projected to increase 2 to 3 percent next year.

New-home sales should total around 503,000 this year and 471,000 in 2009. Housing starts, including multifamily units, are likely to fall 28.2 percent to 973,000 units this year, and come in around 843,000 in 2009 as builders continue to clear the accumulation in inventory.
The 30-year fixed-rate mortgage will probably average 6.1 percent in the fourth quarter and rise gradually to 6.6 percent by the end of 2009. NAR's housing affordability index is expected to average 18 percentage points higher this year than in 2007.

The unemployment rate is projected to average 6.4 percent in the fourth quarter and then average 6.6 percent in 2009. Inflation, as measured by the Consumer Price Index, is estimated at 4.0 percent for 2008 and 2.0 percent next year. Inflation-adjusted disposable personal income is forecast to grow 1.7 percent this year and 1.0 percent in 2009.

¹The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.
²Market information is from unpublished snapshot data; please contact your local association of Realtors® for more information.
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Marc Iafrate, MBA
Raleigh Real Estate Broker
Coldwell Banker, HPW
http://www.marciafrate.com/
(919) 877-8819

We hope you enjoy this blog as much as we enjoy bringing it to you. We welcome your comments. If you are planning on buying or selling a home in the Raleigh area, we have you covered. We have all the resources and knowledge to make your real estate transaction worry free!