Maelstrom in Real Estate

Maybe the maelstrom in real estate is starting to wear itself out and wind down. I sure hope so and I’ll bet many of my seller clients feel the same way. In an article dated today, Monica Chen with the “Durham Herald Sun,” writes on Durham County North Carolina foreclosures.

According to the NC Administrate Office of the courts; Durham County had 446 foreclosure starts from June through August 2010. This is down from 508 for the summer of 2009. Still the news is not rosy, 446 is a lot of foreclosed home and a lot of people moving from ownership into leasehold. Although Durham’s unemployment rate of 7.6 percent is below the sate wide level of 9.7 percent, there are still a lot of unemployed and underemployed people in our market.

The Herald Sun article further asserts from sources with the Mortgage Foreclosure Defense Project for Legal Aid of North Carolina that current sub-prime lending practices are affecting current foreclosure rates. HUH???? The Herald Sun article points to statistics that are four years old and two years old, kind of destroying the article’s credibility….these are not current lending practices; let’s call them…dated. The Herald does state that there has been a drop in sub-prime lending practices, this is true; there has been a drop in ALL lending practices from all banks.

So, with foreclosure rates starting to decline perhaps we’ll see a market return to stable real estate market.

A Passion For Real Estate and More

Passion Is Important

Day to day I have the joy of meeting and working with so many wonderful people. I have countless clients and agents who have become some of my closest friends. I am amazed that folks can go from making a call to me expressing interest in a particular home, to actively seeking and buying a home to becoming dear friends. The experience is so very personal for me as a REALTOR. You see, I see it this way; I am helping people find their place and we all need a place.

My commission is to help people find a place to call their own. A place where they will be safe from whatever the world might be throwing at them. A place where they can lay their head at night, raise their children, love, eat, grieve for their losses, celebrate victories and milestones or just be. I innately understand all of those feelings wrapped up in finding a place called…home. I understand the importance of those feelings involved with identifying that warm soft snug harbor and the fact that home, means many different things to different people.

I’ve often said, “Every fanny has a seat,” and I meant it.

Sure mansions are terrific but so are subdivision homes, condos, townhomes and trailers. As varied as we are as human beings, as diverse as our tastes in clothing, so are our desires for housing. No matter what a client is seeking I’m there to help ensure that their home is the best possible choice for them. I love guiding people through the process and sharing with them what I know after 17 years of doing this. Sometimes, I surprise myself with what I know and more importantly what I DON’T know. The key with not knowing is having the strength to say, “I don’t know but I will find out.”

How awful it would be to tell a client something not true or unfounded when it involves that person trying to find a place called home, what a sour taste that would set in a mouth. You see I believe that many in my industry don’t think about the implications of what they are doing for their clients. It’s summed up in that last statement; what they are doing FOR…their clients. Being a REALTOR is not about commission, it is about service, it is about taking care of people first and then the money, the livelihood will take care of itself and will come in countless and unexpected joy.

Wynterfield Dream Home

Michael Sullivan | MLSullivanDev.Corp | (919) 416-2254 1402 Holly Grove Way, Durham, NC Next to RTP 2BR/2+1BA Townhouse $1,085/month Bedrooms 2 Bathrooms 2 full, 1 partial Sq Footage 1,540 Parking 2 dedicated Pet Policy No pets Deposit $1,085 DESCRIPTION Light and bright end unit townhome just minutes to RTP, NCCU, Duke and UNC. Quiet location. Great space with living room, dining room, family room, two and a half baths and two bedrooms. Appliances stay with this home. Available November 1st or there abouts. see additional photos below RENTAL FEATURES - Air conditioning - Central heat - Fireplace - High/Vaulted ceiling - Walk-in closet - Dining room - Breakfast nook - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer COMMUNITY FEATURES - Garage parking LEASE TERMS One year or more. ADDITIONAL PHOTOS Photo 1 Contact info: Michael Sullivan MLSullivanDev.Corp (919) 416-2254 Equal Opportunity Housing Posted: Sep 15, 2010, 10:03am PDT

1305 Carroll Street in Forest Hills

Michael Sullivan | MLSullivanDev.Corp | (919) 416-2254 1305 Carroll Street, Durham, NC Bike to Duke or NCCU 3BR/1+1BA Single Family House $900/month Bedrooms 3 Bathrooms 1 full, 1 partial Sq Footage 1,100 Parking None Pet Policy Conditional Deposit $900 DESCRIPTION Nice home in Durham's Forest Hills neighborhood. Walk to downtown ball park or theater. Bike to Duke or Central. Active, engaged and friendly neighborhood. see additional photos below RENTAL FEATURES - Air conditioning - Central heat - Fireplace - Hardwood floor - Dining room - Refrigerator - Stove/Oven - Laundry area - inside LEASE TERMS One year or more. ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 4 Contact info: Michael Sullivan MLSullivanDev.Corp (919) 416-2254 Equal Opportunity Housing Posted: Sep 10, 2010, 10:31am PDT