Sheri Moritz

You have likely heard a lot about the First Time Home Buyer Tax Credit that provides a credit of 10% of the purchase price up to $8,000. But have you heard that your buyers can CLAIM THE CREDIT ON THEIR 2008 TAXES even if they are just buying the home now? It can be claimed on your 2008 Tax Return (to be filed by April 15, 2009), an amended 2008 Tax Return, or your 2009 Tax Return. This combined with great low mortgage rates is a lot of leverage to get those buyers off the fence.

This morning while watching the news and having my early morning coffee I had to shake my head wondering if I had just woke from a really long coma. This is what I heard... "Home Values are Plummeting (yep that was the word) in the Raleigh market." They focused with no explanation on one of the larger well known named neighborhoods Bedford stating that "homes were selling at 20-24% discounts." Since I live close by, train agents in our local market and have watched Bedford from the first day they broke ground I thought "oh, my gosh... What happened over there... Seriously, how long have I been asleep?"

I knew with little hesitation that this was not even close to the truth. At least the way it was presented anyway. The first time I heard it I blew it off as yet another media story about the doom and gloom of our real estate market. However, this morning the baby wasn't feeling well so I let her sleep in and heard the same story at least 5 times as it rolled back around every 30 minutes. Sometime between the 3rd and 4th time I started to get a little irritated. By the time I got the baby to daycare around 11 and into the office I had numerous emails and voicemails asking if I had seen the story.

Being curious I had to search around and find out the real story... Thank Heavens there is a wonderful appraiser in our community named Stacey Anfindsen who produces the TARR Report. He was one of the experts they interviewed for the story. Stacey was bold and professional enough to correct the medias inaccurate depiction of our market with detailed and accurate data.

With permission from Stacey I am including a link to the letter he sent to the reporter in response to the story and the current accurate data for Bedford and our overall market. http://tarr.smapublications.com/marketupdate/WTVD022409.pdf

I think it is important to make the media accountable for what they are spreading through the community. Fear is a terrible way of helping the market recover. When homeowners and potential buyers hear this Chicken Little approach to reporting it causes them to retreat helping bringing to life the falling values they report on. Consumer confidence is important in reigniting the market. Lets not let the media rain on our Spring market parade... Get out there, sell some houses and spread the word that in our Triangle market in and in many other areas of the country that "The Sky is NOT falling"

Don't get me wrong, I don't wear rose covered glass nor do I live in a bubble that has not been affected by current market conditions but the fact is... The Triangle market is fairing remarkably well through this economic downturn.

Local agents be sure to check out the TARR Report and sign up. It has excellent and detailed statistics on numerous communities in our market and overall mls stats in easy to use graphs which he supplies to real estate agents.... http://tarr.smapublications.com/

Ok, I would like to see some other experts weigh in on the Good Morning America story that was on this morning titled "Produce The Note" based on a AP report story... http://abcnews.go.com/US/wireStory?id=6897985

Sellers that are facing foreclosure are requesting a copy of the original note from the lender trying to foreclose. With mortgages being sold in packages and moved around often it may be hard for many banks to produce a note or proof that they actually own the mortgage they are trying to foreclose on. It is meant as a delay tactic to allow the sellers to try to work a modification or to sell their homes.

I do a lot of work with investors and home owners facing foreclosure and this is the first that I have heard about this so I am wondering if any of my wonderfully bright fellow activerainers can share their experiences with this issue with the rest of us. How do you think this will affect or benefit home values? If you have any advice for the rest of us please share. I am sure with the story making it to GMA some of our customers and clients will be asking and we need to be informed.

Happy Selling!!

We are trilled to announce the GRAND OPENING of Real Living Realty Experts in Garner. After a long anticipated wait we are ready to open the doors! We worked for months with the contractor and designers to create the open and inviting work atmosphere to offer agents something new and different.

Check out the slideshow tour of our new office http://www.youtube.com/user/RealLivingRealty and check out the sneak peak for more information on Real Living Realty Experts by visiting http://www.realliving.com/sneakpeek and enter the code 13039 or call 919-520-7205.

Real Living Realty Experts offers tailor fit commission plans for every level of real estate broker. Sheri Moritz, Broker/Owner has 16 years of real estate experience with over 10 years as a real estate trainer and mentor. Real Living Realty Experts will be offering extensive training for new/provisional brokers as well as seasoned veterans.

Real Living Realty Experts prides itself on the knowledge of technology and how to implement it in real estate to maximize careers. We also offer training on Foreclosure and REO sales, BPO's and investor purchases to help agents take advantage of this ever changing market.

Real Living, based in Columbus, Ohio, is a real estate company with 2,200 agents and 100 offices nationwide. With a full suite of home and lifestyle services, Real Living also offers nationwide corporations industry leading relocation management services. For more information, visit www.RLTriangle.com

Real Living Realty Experts welcomes Jennifer Marks as a Broker Associate to our BRAND NEW Garner office.

Jennifer has a 10 year background in hotel and resturaunt management with a degree in culinary arts. She has extensive experience in customer service and has implemented that into her real estate business. She hit the ground running in her real estate career spending her first year as a buyers agent in a top RE/MAX office. She is ready to take her business to the next level and create her own independent business.

We can congratulate Jen on writing her first offer within 48 hours of joining Real Living with a closing set for the end of March! We look forward to watching Jennifer grow her business with the tools available through Real Living. Contact Jennifer at www.activerain.com/RelocateWithJen