Erica McClenny

Congratulations to my sellers today. Smooth closing! Selling a home can be exciting and emotional. I wish them the best of luck as they move on to their next path in life! One door closes for another to open.

I've sold ALL of my Cary, NC area listings recently and I need more!! I'm still getting calls from buyers and and would love to save some sellers money on commissions by matching a buyer. There are many homes for sale in Cary NC but I'm always looking to help more moves happen.

If you're thinking about selling your home in 2010 in Cary, Apex, Morrisville, Raleigh or the greater Wake County, NC area give Erica McClenny with eRealty a call at 919-389-8702.

Our team offers online interviews or we can set a time to meet in person. I'll review my PowerPoint of services and show you how you can maximize your homes potential.

Don't spend money on updates and renovation until you know how to get the most bang for your buck!

Stop the presses! I've seen three posts on Twitter and Facebook announcing that the tax credit has been extended until 2010. It's not true...yet.

As of October 29th, 2009 at 2:37pm it was only proposed and agreed upon by Democrats and Republican's to move forward for a vote.

Proposed is VERY different that Passed! I know Raleigh area home buyers and sellers could use a continued push but I'm still unsure if this is a good idea. Where is all that money coming from?

Here's the article off Bloomberg.com

Oct. 29 (Bloomberg) -- The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market.

The tax break, enacted earlier this year as part of an economic stimulus package, has “brought new families into the housing market and contributed to three consecutive months of rising home prices,” Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes.

Senate Democrats have announced plans to extend the credit until April 30 while expanding it to include higher-income Americans and some who already own homes.

Senate Finance Committee Chairman Max Baucus said today the new plan would offer a $6,500 credit for homebuyers who have lived in their prior residence for at least five years. Couples earning up to $225,000 and individuals up to $125,000 would qualify for the break, Baucus said. That’s up from the current $75,000 limit for individuals and $150,000 for couples.

“The success of the American economy is closely tied to the success of the housing market - by helping to stabilize the housing market, the homebuyer tax credit has helped to shore up the economy as it begins to recover,” said Baucus. “This would enable an even greater number of potential homebuyers to take the credit.” Millions of renters earn more than $75,000, he said.

Democrats have been pushing to include the provisions in an unemployment benefits bill, which has been held up by a disagreement with Republicans over other proposed amendments.

Worst Price Drop

Lawmakers said they want to prevent home sales from slipping as the economy struggles to recover from the worst drop in home prices since the Great Depression. More than 1.2 million borrowers have claimed $8.5 billion of the $13.6 billion set aside for the homebuyer tax credits this year, according to the Treasury Department.

The Democrats’ proposal would extend the credit to home purchases under contract by April 30 so long as they close the sale within 60 days. Those buying homes worth more than $800,000 wouldn’t be eligible for the credit, said Baucus.

“We need to target the credit toward those potential home buyers who need it most, and not those home buyers who would have bought the new home without the new credit,” said Baucus.

House Plan

Any legislation would have to be reconciled with a House unemployment measure approved last month that omits the homebuyer tax provisions and extends jobless benefits only in states with the highest unemployment rates. House Speaker Nancy Pelosi, a California Democrat, is waiting to see the final Senate agreement before deciding whether to support it, said spokesman Nadeam Elshami.

While the tax credit speeds demand for homes from next year to this year, it won’t necessarily increase overall sales, said Scott Buchta, head of investment strategy at Guggenheim Securities LLC in Chicago.

“They do need to expand the credit to get more people involved, but at the end of the day you are paying people tax dollars to do what they probably would have done anyway,” Buchta said. “If it is passed, home sales of lower-priced homes should continue to hold their ground. However, if it is not passed we will probably see home sales slow down as we wait for natural demand to build up again.”

Significant Support

Senate Majority Leader Harry Reid, a Nevada Democrat, said yesterday that there is significant support among both parties for the homebuyers’ tax credit. He said the other amendments sought by Republicans are unrelated to the unemployment bill and are designed to embarrass his colleagues. Republicans want to vote on amendments on immigration and to bar funding for the community activist group Acorn.

Senate Minority Leader Mitch McConnell, a Kentucky Republican, agreed that most lawmakers support the unemployment and homebuyer measures. “We’re not that far away from an agreement,” he said yesterday.

The $2.4 billion unemployment measure would extend jobless benefits by 14 weeks in all states and provide an additional six weeks of benefits in states with the highest unemployment rates. About 1.9 million Americans will exhaust their unemployment benefits by the end of this year unless Congress acts, the Labor Department said.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aoI9KTlHpwzI

I've been helping a buyer client look in the half million dollar range in North Raleigh. We've viewed several custom homes off Creedmoor Rd and Norwood Rds. There are a TON of properties to choose from but nothing that screams deal.

Well, my buyer called a few days ago and found a really neat home around Wildwood Golf Course that they wanted to see. We checked it out. Unique, yes. Good condition, yes. Geat upgrades, yes. Nice lot size, totally...it was over an acre.

The sellers had upgraded the kitchen above an beyond what I would have ever suggested, but it was done and my buyer liked it.

We decided to pursue an offer. I ran comps in and around the Creedmoor Road area of Raleigh. I searched high and low and this home just doesn't validate the asking price. I made a quick call to the listing agent and the response was a little scary. "It's unique, there are no comps." UHHHH, not a solid answer in a shaky market!

My next step was calling on an appriaser friend to swing by and take a look. She also agreed after a viewing that it was 100k over priced.

Sooo...here we sit. Letter of intent on the table and a seller who has to come to the realization that the market has changed and value is more important to buyers than ever before!

Unique doesn't cut it!

I'm always preaching buy smart, buy low and look at foreclosures as an option. I'm recently single and wasn't planning on buying again but...I found a deal near Falls Lake and North Raleigh. It's too good to pass up but I've been "thinking" about it for 3 days now.

Why can't I seen to jump on it...

I suppose I see so many homes on the market for sale in Raleigh that I always feel there is a better deal coming soon. What if this is the one that gets away though?

Making a decision to buy can be tough for anyone. However, it's never been this tough for me, it's just a house right?

Wrong...my business partner looked at it yesterday with me and asks...it's perfect but can you make this your HOME?

I've always bought with $$$ in mind and not establishing a home. This house is perfect in so many ways but that HOME thing has me stumped. Wake Forest was a little bit further than I wanted to live but it's near Falls Lake and there are many other neighborhoods around this area.

In Wake Forest and North Raleigh this home would normally sell for $425,000. It's listed at $309k and I "think" I can pick it up for under $290k. The rates are really great right now on a FHA loan with 3.5% down.

It's 4 bedrooms with a bonus and office. The master is on the first floor and there are upgrades galore! Hardwoods, double ovens, screened porch, acre lot, side entry garage, double walk in closets, Hardiplank siding and more...its a TON of home for the money. The Wake County schools assigned to this area are great. Wakefield middle and high school and Pleasant Union elementary.

The forelcosures I usually invest in need a ton of work. This home needs some paint, a few lights and a fridge. Easy stuff for me to handle on my own.

So the dilemma is, is it too much house for me? Uhhhh, yes! But...it's a deal and I'm thinking this might be HOME!!!

I'll keep you posted.

Well folks, it's here!  I blogged last week about the Twitter agreement with Google and Bing. 

We all had guesses about how this was going to filter down...there is a TON of junk out there that personally I feel isn't Google worthy.

This video was posted today to show the world how Google plans to control all the mindless chatter that runs in the social networking veins.  I'm working on streamlining this as soon as I post this to all of my 'Raining buddies! This is another great explination of how and why a social graph is helpful to you.

I have two closings in the next 48 hours but I'll work on fine tuning some of my tips to keeping ahead of the competition!

Good luck and see you on my tweets, updates and feeds of Raleigh, NC real estate information.  I have homes to sell and new listings to get up and running.  I need to stay on top of my marketing game for all the home buyers and sellers in the Wake County area. Feel free to follow me on Twitter @ericamcclenny