Winter’s end is near. We can feel it! In fact, March 1st is this coming Sunday and according to the forecast, temps could reach the low 60s by Wednesday. Spring is in the air!

As a Triangle homeowner, perhaps you have made the decision to sell your home. You could be downsizing (or up-sizing!), relocating to another Triangle community (or out of state), or maybe your current home is your “first home” and you are now ready to upgrade. Whatever the case may be, you’ve made the decision to sell and Springtime is the perfect time to put your home on market in Raleigh, Durham, Chapel Hill and surrounding communities. BUT, do you know what it takes to get it ready so that you can sell it (hopefully) fast? Here are our 5 tips for getting your home ready for sale in the Triangle this Spring.

A Pre-Inspection Could be Your Saving Grace

Before a a Buyer can complete the purchase, your home will likely go through a home inspection. Get a jump on it and have it inspected yourself first. This way, if there are small repairs you can make or larger issues you need to take into consideration before pricing your home, you know what they are and are ready to make those repairs or exceptions. If you’ve been a responsible homeowner, the chances of there being any major issues are slim to none, but you never know! Better to be prepared than not prepared, right?

Curb Appeal is Your Friend

Dawn Drew WOW Factor FMRealtyThe old adage, “You never get a second chance to make a first impression” rings true, especially in this case. You want the place you’ve called home for however long you’ve owned it to stand out beautifully for the potential Buyer. You want the Buyer to remark on the beauty they see when they pull up in the driveway (or alongside the road) for the first time. You want them to eagerly anticipate their tour of your property, especially the inside of the home and not shake their heads in disgust upon first impression. Curb appeal is your friend.

Trim those hedges, add some potted flowers to the front steps. If you need to touch up the paint, then do that too, etc. Don’t forget night-time appeal too. Often, prospective Buyers, especially serious ones, will want to drive by your home at night to see how it looks then too.

No matter what, spruce it up! Make it shine. Make it appealing to the potential Buyer.

Limit the Personalization – Declutter

110 Bluefield Rd Living Room Staged

We know this is a tough one to swallow, but it’s a necessary one. Yes, you are still living in your home (well, most Sellers do) and you want to keep the environment as “normal” as possible during what can sometimes be a frustrating experience – the sale of your home. The thing is, you want Buyers to picture themselves AND their possessions in place of you and yours…and we know that’s sometimes hard to swallow too. So, declutter – remove personal items as much as possible. You’re going to end up packing them away anyway so why not start now?

Another option to consider as you declutter – staging. Staging your home can sometimes help you sell it faster as well as bring a higher price too. Of course, there are many factors to consider there and we encourage you to talk to your Fonville Morisey Sales Associate to learn how this works best for you, but it is another option. Regardless, however you do it, limit the personalization to your home as much as you can.

Think like a Seller; Not a Homeowner

In other words, stop calling it “your home”. Once you’ve put it on the market, it then becomes a marketable piece of property. Think of it THAT way instead of the alternative. Why? Because by doing so, it helps you look more objectively at what you need to do to get it ready for sale and puts you in the frame of mind of having listed it for sale (being ready for showings and Open Houses, etc.).

Enlist a REALTOR® to Help You Price It Right!

Real estate agents pay attention to the market daily. They know current trends, watch what’s working for today’s home sellers, can compare similar properties to yours, and have the right tools to do it all. Let’s not forget they work with home inspectors, home stagers, attorneys, Title companies, Lenders, etc. on a consistent basis. The bottom line is, they can help you price your property right for a chance at a quicker sale.

Spring IS around the corner. If you’re ready to put your home on the market in the Triangle, it’s time to get it ready. These 5 steps will help you get started. Of course, we’d like to assist you too! Please contact one of our Sales Associates today. They’ve got additional tips & tricks to help you get your property sold as quick as possible!

Image of exterior of home courtesy of The WOW Factor Home Staging.
Image of a staged living room courtesy of Triangle Home Staging and Design.

 

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FM Lending: Making Sense of Mortgage Insurance

by fmrealty on February 17, 2015

The following contribution is by Leisa Fallon, Senior Mortgage Consultant for FM Lending based out of our Wake Forest Sales Office. Thanks for sharing your expertise, Leisa!

Making Sense of Mortgage Insurance – Who Pays and Why?

Including a couple of great savings opportunities from FM Lending. Read on!

35 Cole Creek Way Franklinton NC FM RealtyMortgage Insurance (MI) is added to all types of loans to protect the lenders should a borrower default on a mortgage and the home ends up going into foreclosure. If a borrower is unable to put down 20% or more, the lenders will require mortgage insurance, with the exception of Veteran Administration (VA) loans. For the purpose of this post, we’ll provide information on Mortgage Insurance pertaining to Federal Housing Administration (FHA) and conventional (Conforming FNMA/FHLMC, 30 year fixed rate, 15 year fixed rate, etc.) loans.

FHA Loans

Federal Housing Administration premiums have recently been reduced and can save borrowers with FHA loans HUNDREDS or maybe thousands of dollars per year. If you have an FHA loan, call an FM Lending Mortgage Consultant to reduce your current mortgage insurance premium. We currently have a promotion whereas we will pay all closing costs for you, if your loan is locked on or before February 28th, 2015.

Current interest rates on FHA loans are also the lowest they have been in 20+ months. Another added benefit of FHA loans is that the new FHA Credit Advantage program has also reduced credit score requirements down to 600.

The new lower FHA MI premiums will help to qualify more borrowers and buyers purchasing a home.

Conventional Loans

On Conventional loan programs (Conforming FNMA and FHLMC), FM Lending offers 3 different types of Mortgage Insurance (MI), depending on qualification – Monthly MI, Lender Paid MI, and Financed MI. Monthly MI is paid monthly and the MI premium is added to your mortgage payment. Lender MI is paid by the lender and increases the interest rate on the loan, unlike Monthly MI and Financed MI. The unique benefit associated with Financed MI is that it allows you to finance the MI premium into the loan amount, without increasing the interest rate you qualify for. The result is a total mortgage payment that costs you hundreds or even thousands LESS per year.

Many companies are not able to offer Financed MI; FM Lending is, however. We are able to offer this Financed MI, even up to 95% loan amount to value of home (5% down payment required). Call a FM Lending Mortgage Consultant to see if you qualify for Financed MI to save money!

In conclusion, unless you have a VA loan, if you don’t meet the requirement of 20% down for your loan, you will need Mortgage Insurance. As you have seen in the information above, there are choices available to you. Please contact your FM Lending Mortgage Consultant today to learn more. We’re happy to assist!

Image of 35 Cole Creek Way in Franklinton NC courtesy of FMRealty.com. Image current at time of publishing.

 

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Celebrate Valentine’s Day 2015 in Wake Forest and in Raleigh!

February 12, 2015

The following contribution is provided by our Fonville Morisey Wake Forest Sales Office. Thanks, Y’all! We’re two days away from THE most romantic day/night of the calendar year – Valentine’s Day! With today’s news that Raleigh outranks other North Carolina cities for celebrating Valentine’s Day in terms of budgeting, activities, and gift accessibility, we thought […]

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REALTOR Tip: The Advantages to Selling Your Home in the Triangle in Winter

February 5, 2015

The following contribution is a collective provided by the Sales Associates at our Fonville Morisey Wake Forest sales office as part of our “Branch Bits” series. Many thanks to Danny Van Orsdale, Dave Harney, Donna Thompson, Anthony Laurie, and Keith Dabal for sharing your expertise! Selling your Triangle-are home in the winter months actually has […]

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One Family Finds Success in Relocating to The Triangle Thanks to Their Real Estate Agent!

January 29, 2015

The following contribution is by Cindy Levesque, Sales Associate with our Fonville Morisey Stonehenge Sales Office. It’s always nice to hear the stories of how our Triangle residents get here and find their perfect home! As a real estate agent serving Raleigh and the communities that surround our State Capital, I get to work with […]

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Our Triangle Communities: Spotlight on Briar Chapel

January 26, 2015

The following contribution is by Lauren Richardson out of our Fonville Morisey Chapel Hill Sales Office. Thanks for sharing, Lauren! A Spotlight on Chapel Hill’s Briar Chapel Community It seems there is new development happening around every corner in Chapel Hill right now. As the population continues to expand, the once small town is spreading […]

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FM Lending: Reduced FHA Mortgage Insurance Premiums Should Help Home Buyers and Homeowners

January 22, 2015

Nearly two weeks ago, President Obama announced a reduction in premiums for new Federal Housing Administration (FHA)-backed loans. The good folks at Prosperity Home Mortgage stripped the news reports to put together an article that explains what that means for the everyday American, especially first-time home buyers.  Housing just became more affordable! Mortgage lending and […]

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Triangle Housing Market Watch: Units Sold UP 8% – Good News for Home Sellers

January 15, 2015

The month of December….well, typically, the holiday season itself…is usually one of the slowest in the year for real estate in general. Families are busy with holiday parties and soirees, buying (and wrapping) gifts, sending out those annual Christmas cards, baking, you name it. BUT, that didn’t stop Triangle families from putting their homes on […]

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The Triangle Begins 2015 With More Accolades!

January 8, 2015

by Lisa Sullivan, Digital Media Marketing Director When a year ends and a new one begins inevitably you can expect to see all kinds of “best of” lists pop onto your computer screen. As 2014 concluded and as 2015 began, we caught seven lists of the sort all pointing toward our part of North Carolina, […]

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Last Minute Holiday Shopping in Chapel Hill!

December 23, 2014

The following contribution is by our Lauren Richardson of Fonville Morisey Chapel Hill. For you last minute shoppers, this ought to give you some GREAT ideas for your gift list. Thanks for sharing, Lauren! Thanksgiving has passed, the family has left town and the serving dishes are happily tucked away where they belong. Then, just […]

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