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Showing posts with label RDU Real estate. Show all posts
Showing posts with label RDU Real estate. Show all posts

Wednesday, September 22, 2010

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.

Wednesday, September 15, 2010

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

powered by postlets Equal Opportunity Housing
Posted: Sep 15, 2010, 10:03am PDT

Monday, August 30, 2010

The Ten Commandments of Town Home Living


The Ten Commandments of Town Home Living

Understanding that townhouse or condominium living is as close to communal ownership as one can get, perhaps it is a good idea to go into the process with some simple ground rules that will make coping with this type of living easier on you and your new neighbors.

1. Thou shall ALWAYS clean up after one’s pets no matter how cold, damp, wet and messy the weather is or how late at night it is.
a. Sub rule, thou shall always walk one’s pets as far away as possible from thy neighbor’s walkways, patios, decks and motor vehicles.
b. Sub rule, thou shall always walk one’s pets on greenway if at all possible.
c. Sub rule, thou shall always have extra clean up bags on one’s person when walking pets.
d. Sub rule, thou shall be aware that perhaps a townhome or condo isn’t an ideal environment for three, four, five, six or more dogs, cats, gerbils or ferrets.

2. Thou shall always park in one’s designated parking spots.
a. Sub rule, thou shall ask permission to park in thy neighbor’s parking spots.
b. Sub rule, guest parking isn’t for you.

3. Thou shall inform thy guests to park only in designated guest parking spots.
a. Sub rule, if thy guests park in thy neighbor’s parking spots thy will quickly and without haste ask thine guests to move their vehicles.

4. Thou shall adhere to architectural and landscaping rules and requirements without prejudice.
a. Sub rule, thou will become fully aware of such rules prior to moving into thy new neighborhood and will abide by the rules without whining and sulking.

5. Thou shall bring one’s trash receptacles in from the curb in a most timely manner as prescribed by neighborhood rules and regulations.

6. Thou shall keep deck and porch spaces neat and tidy.
a. Sub rule, this includes underneath decks and porches and one’s parking spots too.

7. Thou shall not use one’s barbeque grill on wooden decks and porches, for it is common sense, the law and just plain safe.

8. Thou shall not use sheets, towels or garments as drapery.
a. Sub rule, if thine neighbors have bare windows, thou shall not peer through those windows whilst walking in common areas.

9. Thou shall be aware of normal sleeping hours and adjust thine noise, music and car stereo accordingly.

10. Thou shall participate in one’s association
a. Sub rule, this includes attending meetings.
b. Sub rule, this includes volunteering for committees.
c. Sub rule, this includes paying dues and assessments in an on-time and timely manner.

So, that’s a start and of course I could write a book about good communal living. I recognize that many folks bristle at the notion of a home owner association but let me tell you; after having lived in a townhouse community myself for the past six years; I totally get the rules and regulations. I have also found that those who typically complain the most with respect to the rules and regulations are those who will most quickly disregard them if it serves their purpose.

Interested in finding a house, townhouse, condominium or any other place to call home in the Research Triangle Region? Put my 17 years market experience to work for you. Michael Sullivan, REALTOR, 919-608-2372 mobile/text.

Wednesday, August 25, 2010

The Beach and a resolution



So, I thought that I’d do another installment on the beach saga. After my initial go round with the agent in Carteret County, I did call and leave a message stating that I thought I should handle the lease on my place down there myself. That I’d be happy to pay the agency on Harker’s Island a finder’s fee for bringing a tenant to me. I think that's fair. No one should work for free.

A day went by and silence from area code 252; I did hear from my mom and dad, but nothing, nil, nada from the agent. By yesterday afternoon I was becoming somewhat antsy. I typically don’t leave messages hanging around on my voice mail or email and I really don’t care for it when others do so. Finally mid-afternoon at 2:05 pm an email came. The email tendered the tenant's name and phone number. The agent demurred on a finder’s fee stating that since he didn’t have a management agreement in place when he started down the representation path that he felt he wasn’t due compensation.

I do agree and disagree with that and I do understand this fellow’s soft peddle on compensation. I imagine the North Carolina Real Estate Commission would have a fit over all of this if it were reported; it won’t be. So here’s my advice to all of you out in the blogesphere; if you engage an agent for buying, selling, renting or leasing make sure that you have an agreement in writing outlining who, why, where, how, how much and when. This situation turned out well but it just as easily couldn’t have. What I would have done in the beach agent shoes is emailed an agreement to Durham outlining terms and we would have hammered all of this out before a tenant even entered the picture. The lesson I’ve learned, insist that others do things right each and every time.

Coming soon…my on-going discussion with an agent who won’t disclose to me whether or not he has an exclusive right to sell listing agreement on a listing in which he states in Multiple Listing that the home is “EO” or “Entry Only.” The Real Estate Commission views this designation “EO” as simply advertising and not offering advice or counsel as in an agency relationship.

Interested in buying, selling, renting or leasing property in Raleigh, Durham, Cary and Chapel Hill, North Carolina; call or text me to 919-608-2372 or email MSullivan@fmrealty.com

Thursday, August 19, 2010

Old Chapel Hill Road/Old Durham Road Improvements




Old Chapel Hill Road/Old Durham Road Improvements

Finally! I hope my neighbors agree but it looks like we’re in the right place at the right time. Ok, yeah for sure it will be a bit of a mess for awhile but in the end it looks like a great plan.

We’re getting sidewalks and a bike lane on Old Chapel Hill Road. The improvements run from 15-501 in Chapel Hill to Garrett Road in Durham.
Learn all about the plan on Tuesday August 24th between 5-7pm at Resurrection United Methodist Church right across from Githens Middle School.