Thursday, February 10, 2011
Monday, February 7, 2011
What’s the difference between a foreclosure, short sale and REO?
A short sale occurs when the lender agrees to take less than the full loan payoff of an owner’s property. The homeowner is most likely behind on payments and owing more than the home is worth. Keep in mind that the term “short” sale can be misleading. A short sale can take some time to complete, usually due to banks or mortgage lenders long approval process.
Foreclosure is where the bank takes possession of the property because of non-payment for a long period of time or an unapproved short sale.
A REO is a bank-owned property (“real-estate owned”), when homes go into foreclosure they are sold at an auction, if no one purchases it at the auction, they become REO properties. Later they are usually listed by Realtors hired by the bank, often at a reduced sales price (anywhere from 20 to 50% less).
Sunday, February 6, 2011
Why Choose Nicole James Real Estate Group?
Nicole James Real Estate Group is a full service Real Estate firm serving Raleigh-Durham, the Triangle, and all surrounding areas of North Carolina. Nicole James Real Estate Group is comprised of high quality associates and consultants that specialize in residential secondary and new construction markets. The firm also has extensive experience in the marketing and selling of Real Estate Owned (REO) properties. Nicole James The team consists of a broker in charge, a listing support agent, a client care manager, a closing coordinator, and a business/marketing consultant.
The BIC has been a consistent top performer with over $40 million in volume and 200 homes sold to date. The BIC has a background in public relations and marketing and is a certified REO representative licensed in North Carolina and Georgia. Professional associations include the National Association of Realtors, North Carolina Association of Realtors, Georgia Association of Realtors, Durham Association of Realtors, Triangle Multiple Listing Service, Georgia Multiple Listing Service, and First Multiple Listing Service of Atlanta.
The listing support agent has over 12 years of real estate experience and holds licenses in North and South Carolina. This agent is widely known in the area as an aggressive sale person in both the resale and new homes market. Professional associations include the National Association of Realtors, North Carolina Association of Realtors, and Triangle Multiple Listing Service.
The client care manager is a licensed North Carolina agent with broad experiences in marketing and social media. The client care manager is responsible for the day-to-day duties of the office and the direct support of clients during the entire real estate process.
The closing coordinator works with the client care manager in client support. The closing coordinator also ensures that all requirements and paperwork are in order to close transactions.
The business and marketing consultant has broad experiences in real estate, utilities, and emerging business and is a MBA from the Fuqua School of Business, Duke University.
Nicole James Real Estate Group is located on the ground floor of the historic Teermark building in downtown Durham, North Carolina. Our office suite is approximately 1,100 square feet with two separate rooms. One room is called the “war room” which is where the staff have their desks and office equipment. The other room is called the “client room” which also doubles as a conference room. The war room has the latest in touch screen all-in-one computers, color printers, phones, and a fax machine. The client room has a 46-inch plasma TV and various audio/video equipment, which is used to provide presentations to clients and during staff meetings. The entire office suite is on a secured wireless network that allows file and printer sharing. The network also has guest access points that provide internet services to clients and agents.
The team at Nicole James Real Estate Group has lived and worked in the area for over 15 years and established relationships and experience of identifying, marketing, and working with investors and clients throughout all phases of a real estate transaction. In addition to the marketing strategy outlined below, Nicole James Real Estate Group has developed a niche with first time homebuyers through their credit counseling services and first time homebuyers’ seminars. Ready and willing first time homebuyers have been identified as great potential buyers for homes at particular price points.
Nicole James Real Estate Group has created a winning marketing strategy for its clients to maximize exposure in order to sell their property as quickly as possible. Our marketing strategy has four key aspects: traditional promotions, internet and social media, networking/caravans, and viral marketing.
http://www.nicolejames.com/MarketingStrategy.pdf
Traditional Promotions
Marketing flyers
Creative and unique flyers are created and widely distributed for each property
Email broadcasts
Information of new listings are sent out through email broadcasts to local realtors
Printed media
Advertisements of the listings are submitted to local printed media
For sale signs
Quality looking ‘for sale’ signs are posted in front of listing
Internet and Social Media
Exposure is key
More than 80% of potential buyers utilize the internet
Market utilizing the latest internet tools
- MLS
- Realtor.com
- Dozens of subsidiary web services
- www.nicolejames.com – feature listings
- www.nicolejamesREO.com – Exclusive REO properties
Facebook and Twitter
Leverage social media presence through facebook and twitter
Networking/Caravans
Open Houses
If necessary open houses are set up and scheduled by the listing support agent
Property Caravans
Coordinated tours for local realtors to preview listings
Viral Marketing
Multimedia videos and slideshows
Youtube videos and slideshows are provided for each listed property
Friday, July 9, 2010
Obama signs 3-month extension of homebuyer credit
WASHINGTON |
(Reuters) - President Barack Obama on Friday signed a law giving consumers already in the process of buying a home three extra months to close the deal and still get a popular tax credit from the government.
--------------------------\
Applicable to those who had contracts in place prior to April 30.
You now have until Sept. 30 to close out your contract.
http://www.reuters.com/article
Monday, May 31, 2010
Luau Cookout 2010
Thank you all who attended our event.
We are blessed to have such wonderful friends, family, clients, and neighbors...
Friday, March 26, 2010
Builders again buying land
Two large home builders are increasing land acquisitions in the Triangle, a bet that the region's housing market and economy is poised for a rebound.
The recent activity comes after an extended period in which large builders refrained from making purchases as they waited for the housing market to bottom out and land prices to come down. With both of those things now occurring, builders see an opportunity to grab market share in an area whose long-term growth prospects have not been clouded by the recession.
"The biggest surprise has been how quickly the pursuit has ramped back up again," said Lee Bunn, Standard Pacific Home's land acquisition manager in the Triangle. "Just in, say, a 90-day period we've kind of gone from first gear to fourth gear."
Over the last month California-based Standard Pacific Homes, among the largest builders in the country, has paid nearly $10 million for 265 single-family and townhouse lots in Wake Forest, Durham, Raleigh and Cary.
Another national builder, Toll Brothers, recently paid $23.46 million for the majority of the Hasentree luxury golf course community in northern Wake County, a purchase that included the golf course and 318 lots.
The deals reflect the confidence builders have that the Triangle will continue to draw new residents and burn off the inventory of homes left over from the boom years. They are also a sign that builders believe lot prices have fallen far enough to reflect current market conditions.
The lot typically accounts for about 20 percent of the cost of a home, meaning the less a builder pays for dirt the more affordable it can make the house on top of it.
Publicly traded builders such as Toll Brothers and Standard Pacific are in a position to buy land partly because of a change in the tax code.
In November, Congress passed a law that lets companies that are losing money go back five years and get a refund for taxes paid when they were making money. Companies were previously limited to recouping taxes paid up to two years earlier.
"They're flush with cash," said Ed Dunnavant, who tracks Triangle housing trends for the research firm Metrostudy.
Land prices down
While builders such as Standard Pacific have plenty of cash, many local builders are struggling to stay afloat and need to sell some of their inventory. Other builders have already been foreclosed on by their banks, which are now in the process of disposing the lots. This has led to steadily declining lot prices in the Triangle.
The average lot price for a single-family home in the Triangle was $48,732 in the fourth quarter of 2009, down 19 percent from the same period in 2008, according to Market Opportunity Research Enterprises, a Rocky Mount group that tracks Triangle housing trends.
Bunn said the recent buying activity should not be confused with the frenzied buying that took place during the housing bubble.
"I think people are working on a smaller footprint," he said. "They're being more selective about where they go."
The Triangle still has a glut of developed lots left over from the boom years, but a number of those lots are located in outlying subdivisions that have become less attractive as housing closer to job centers has become more affordable.
'Feeding frenzy' small
In the more attractive areas of the Triangle competition for lots has become fierce. In southwestern Wake County, which includes Cary, Apex and Morrisville, the number of vacant developed lots totaled 4,331 in the fourth quarter, down 20 percent from the same period the year before, according to Metrostudy.
Bunn said Standard Pacific is poised to make a number of other land acquisitions in addition to its recent deals, which included buying 99 lots in the Mulberry Park townhouse community in Durham and 110 lots in the Northampton subdivision in Wake Forest.
Dunnavant said he expects land purchases to slow down as builders remain wary of carrying too much land on their books -- something that led to disastrous results when the housing bubble burst.
"If they do that they're going to be right back where they were three to four years ago," he said. "While there's a little bit of feeding frenzy right now I think it's really they're replenishing their war chest because most of them let their lot supplies dwindle," he said.
The Associated Press contributed to this report
Read more: http://www.newsobserver.com/2010/03/23/402733/builders-again-buying-land.html?story_link=email_msg#ixzz0jG1BQ94M
Thursday, February 25, 2010
The Triangle has received more affirmation
The Triangle has received more affirmation that it is better-positioned than most regions to emerge quickly from this recession.
"Based on end-2010 economic forecasts, we think Raleigh will be the healthiest of the largest 100 markets in the country. Raleigh comes out on top because of stronger employment conditions, moderate household income growth, and continued strong household formation. The market still is expected to see minor home price declines (approximately 3 percent decline expected for 2010 over 2009), which is one factor that keeps the market from being even stronger."
http://www.newsobserver.com/2010/02/19/346681/raleigh-housing-market-ranks-first.html
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