Erica McClenny

I know the market is tough right now and everyone is pinching pennies. However, if you've got vision and financial savvy you may be able to purchase your next home for next to nothing.

HUD has a special program for owner occupants only that allows you to purchase an insured HUD foreclosures for $100 down payment. It's a wonderful tool that many first time buyers are taking advantage of.

We are certified HUD agents in the great Raleigh/Durham area. There may or may not be a home that matches your needs, but it never hurts to keep your radar scanning. These properties are in varied levels of repair. I've seen homes look brand new and others that needed a total overhaul. A majority of the time they are in liveable conditon and just need a little love.

Every Friday new and reduced HUD homes are posted at www.hmbireo.com There are pictures, property reports and information for the public to view there. However, if you find a home you like, you have to have a registered agent place a bid for you. HUD wants to make sure buyers are represented properly.

Also, make sure you understand your rights and contracts. There are some sticky spots in timing and possible scenarios for you to lose a deposit if you walk away from the deal.

HAPPY HOUSE HUNTING!

Just a reminder that the annual Parade of Homes is approaching for Wake County, NC. This years dates fall on Oct. 4-5, 10-12 & 17-19.

There are homes from the low 100's into the multi millions. If you're relocating or just thinking about buying it's a great time to browse without the pressure. Its also a great time to negotiate a purchase!

Good luck and enjoy the wonderful homes on showcase. If you'd like a full search of available homes visit http://www.hbawake.com/about/2008-parade-of-homes/

If you've considered stepping up your investment portfolio and diving into apartment communities...start your search with us!

We have access to several smaller investments under $1,000,000 that cash flow and show strong rental history. Many folks who wanted to buy cannot purchase a home quite yet. The rental market continues to hold steady.

Here's an example of a new property that hit the market today:

16 Units

2 bedroom/ 1 bath

$400/month for each unit (1 vacancy)

Units recently renovated and the buildings are all vinyl siding for low maintenance

Asking $575,000

This complex in on a large lot with potential for some expansion.

Call Erica McClenny @ eRealty for more details. 919-844-4686

*Pre-approval is required for showings due to tenant situation.

Are you looking for a great buy? How about a rental that cash flows and gives you a nice chunk of equity? Maybe a flip to make a quick 15-20k?

Here's my picks so far today:

1. 46 Herndon Ct in Clayton Asking $84,900: Single family home built in 2006 with 3 bed/2.5 bath and a 1 car garage. Worth $120k in great shape. This would rent or lease purchase easily. Needs minor repairs

2. 130 Ina Joe Place, Willow Springs Asking $149,900: Single Family home built in 2004 with 3 bd/2 bath, bonus room and a 2 car garage. Great rental or lease purchase.

3. 3205 Rendezvous Dr, Raleigh Asking $124,900: Single Family home built in 2005 with 4 bed/2.5 bath and a 2 car garage. Minor repairs needed and worth $165k. Great Flip!

4. 2504 Australia Ct, Raleigh Asking $79,900: Single Family home built in 2000 with 3 bed/2 bath and a 1 car garage. This home needs repairs but would rent well with equity built in.

5. 2608 Forest Lake Ct, Wake Forest Asking $377,900: Single family home custom built in 1999 with over 4200 sq ft, 4 bed/3 bath with a bonus and unfinished area. 4 car garage on over 1.5 acres. Tax value is over $513,000! Great buy for a personal home.

My team specializes in investment homes and buyers looking for steals & deals! We have many other homes waiting for you. Give me a call today if you'd like a VIP Buyer search set to match your needs. Our services are totally free even when you purchase a home.

Thanks for stopping by my blog...Erica McCLenny, Broker @ eRealty 919-844-4686

Many of us locally speak about the great Raleigh/Durham, NC area as the Triangle. I realized that folks relocating from other parts of the country may not know what that is!

Research Triangle Park (RTP) is in the center of the Triangle. Raleigh, Durham and Cary surround one of the oldest and largest science parks in North America, RTP is a 7,000 acre development that is home to more than 170 companies employing over 40,000 full-time knowledge workers and an estimated 10,000 contract employees at this time. Companies in technology, pharmaceuticals and medical research folks here for many reasons.

The economic growth that RTP supplies for the greater Triangle area is HUGE. The job market stays strong and continues to grow even in a down economy. Housing prices are reasonable compared to other large tech savvy areas across the country. Taxes are low and schools are decent.

If you're considering a move to a new area...why not give the Triangle a shot. It's a square deal all the way around!

A great site for information about RTP and the business that thrive here is http://www.rtp.org/main/

Some of the major corporations are... Cisco, Bayer, GSK, SAS, IBM, Lenovo, Cree, Dupont, Ericcson, Red Hat. There is a full list and map listed at www.rtp.org