“When the going gets tough the tough get going” so goes the old saying. Two local real estate agents in the Raleigh area recently joined forces to tackle the Triangle residential market. Jeff Dicks & Marc Iafrate have formed the Capital City Real Estate Group with Keller Williams Realty.

Jeff & Marc were having a coffee and one of their favorite pitstops and started to discuss the current state of affairs in the local real estate environment. Both soon realized that they were both experiencing the same challenges and further they were like minded in their approach to the business.

” It was really uncanny how are systems and approach to excellent customer service were so similiar.” Dicks says. ” The further we talked we realized immediately we needed to join forces said Iafrate.” By merging we created an economic balance within our own business and the opportunity to grow.”

The two powerhouses have joined Keller Williams Realty and already are experiencing an excellent transition.

“Many agents have experienced an extremely challenging past couple of years and those who focus on building their client relationships and providing ancillary service’s can expect to grow their market share. With our partership with Keller Williams Realty, the Capital City Real Estate Group is moving on up said Dicks”

Jeff can be reached directly @ 919-793-4730 or e-mail Jeff@jeffdicks.com
Marc can reached directly @ 919-314-7797 or Marc@marciafrate.com

The notion of buying a foreclosure for many is enticing. What you haven’t heard is many believe they can walk right into the foreclosure market and buy thier dream home. The reality of course is much different. Homes in this segment are often neglected and in some cases vandalized by the previous owner or other party. One must be patient and whether your an investor or looking for that great bargain it’s best you work with a Realtor who has experience and guide you through the process.

Overview of Home Affordability Modification Guidelines

Raleigh Homeowners take note of the loan modification guidelines. North Carolinians have not been impacted as much as other areas of the United States. With the current unemployment rate exceeding 11% in the state some owners are in distress. The Raleigh home market is recovering and we seem to have bottomed. Loan modification guidelines as below.

•Loans must have originated on or before January 1, 2000.
•Mortgages must be for a single-family residence with a loan balance no greater than $729,750.
•Loans can only be modified once beginning March 4, 2009 through December 31, 2012.
•Home cannot be vacant or condemned and must be a primary residence—not investor owned.
•Interest rate can be lowered to as low as 2 per cent and the term of the mortgage can be extended to a maximum of 40 years in order to maximize the reduction in loan payment.
•Borrowers will need to provide an “affidavit of financial hardship”, their most recent tax return, and two recent pay stubs.
•Service providers will be required to follow a sequence of steps that modify the loan in order to reduce the monthly loan payment to no more than 31% of gross monthly income.
•Homeowners who make their payments on time are eligible for up to $1,000 of principal reduction payments each year for up to five years

The country remains committed to government support for home buyers, according to a recent survey of U.S households.

Nearly 70 percent of those polled said the government should continue to support housing and some 65 percent felt the government should be doing more to keep families from losing their homes to foreclosure.

With the First time homebuyer credit of $8000 set to expire on
April 30th and the $6500 for qualified repeat homebuyers the spring market activity is picking up.

The economic recession, job losses and some uncertainty remains the largest barrier to growth in the housing market.Of the renters nationwide surveyed, 40 percent simply don’t have the money to buy a home.

The current inability of some homeowners to sell their current home in depressed markets remains the biggest obstacle. Many homeowners feel imprisoned by their home where the current value is below what they owe and some surveyed felt that homeprices were still too high too move forward.

The Umstead Hotel located in Cary, NC is located minutes from the Raleigh/Durham Airport. The Umstead has been a recipient of many travel rewards. Most recently the 2009 Mobil Travel Guide Five Star recipient and the 2009 AAA Five Diamond Award Winning Hotel. The Umsteadd Hotel also a delux location for elegant weddings or gatherings. One must simply experience the Umstead Spa or the Award Winning Heron’s restaurant.

Maximillians Restaurant located in Cary, NC has been a long time favorite eatery. With it’s roots going back to the early nineties as a pizzeria it won several awards from Spectator Magazine. Maximillians has evolved to a free form fusion cuisine. Simply a must visit !

Lenders are still foreclosing on homes at a worrisome rate outpacing the Fed’s effort to stall the problem.
Since the HAMP program has started (Home Affordabilty Modification Program) processors have have worked with approximately 750,000 modifications, less than a mere 4% of these mod’s have become permanent.
Critic’s are calling the “mortgage program” a failure. Although not every foreclosure in the country can be prevented House Republicans and Democrats are urging the Treasury Department to do a better job of making the trial modifications permanent.
With next wave of mortgage resets to begin mid 2010 thru 2011 many believe that housing prices have further to fall. With the First Time Homebuyer Tax Credit to wind up in April uncertainty remains. Although, not all is bleak unemployment seems to be leveling off and with employment being a lagging indicator of an economic recovery any stability may signal the worst is over.
The Triangle area market has seen the median price of home prices drop over 2009, all eyes are looking to a spring market in 2010 with renewed optimism.

Think about it…a home of your own. Finally, a yard for the kids to play. A garage for your car. No more noisy neighbors. Lots of room for storage. Privacy. And…

An Opportunity to Automatically Build Wealth

Why should you stand by and watch as your friends and family discover the American Dream? This is a great time to buy. Interest rates are low. Home inventories are high. This all means you can get more home for the money. But it may not last long!

And speaking about money, I can help you even if you have a few credit problems. I can help even if you’re self employed. There are all sorts of loans out there, and because helping renters is my specialty, I can help you like no other agent.

You won’t need a big down payment either. I have programs with low down, and terms to get you into a home immediately.

Every Single Minute You Wait,
You Lose More And More Money…

Renting is the worst way to live. Your landlord gets rich, while you keep getting poorer. Now you can put those same dollars into a home, and create “equity.” While you’re making your monthly home payment, your loan balance decreases, while your home value continues to increase. You increase your financial worth automatically!

Not to mention, you can reduce your income taxes by hundreds, perhaps thousands of dollars. You see, the interest and other expenses on your home loan are tax deductible.

So, instead of throwing away money to your landlord (who’s currently getting the tax advantages you should be getting), you’re now keeping them all for yourself…

Nothing Feels Better Than a Home of Your Own

The feeling is great…a place of your own. That’s why it’s called “The American Dream.” You can have friends over. Enjoy holidays with your family. Remodel as you desire. And no rental increases out of the blue…

I’ll Find You a Wonderful Home…
A Place You’ll Love!

I can show you homes in any price range. And with my financing packages, you’ll be amazed at how much home you can afford. In just 30 minutes, we’ll examine the type of home you want, the kind of neighborhood you want to live in, and your financial situation.

I’ll take it from there. And everything you tell me is completely private and confidential. I stake my profession and reputation on it!

So, before you write another rent check, why not simply explore the idea. You can speak or meet with me absolutely FREE and without any obligation whatsoever.

Simply give me a call at 919-793-4730 and I’ll schedule our meeting at a convenient time. With no hassles and no pressure. And if you call immediately, I’ll also share with you…

• Helpful tips on buying the most home for your money…
• A FREE Credit Report and confidential determination of your home loan range…

You have nothing to lose. Nothing to risk. Everything to gain. So call me right now before you forget at 919-793-4730 or call my 24 Hr. FREE Recorded Information Line
Ask for my FREE Report “How to Stop Renting Forever and Own a Home of Your Own”
800-516-9507 # 9050

Jeff Dicks furthers career with prestigious Certified Foreclosure Agent professional training course offered through Agent University.

                                                                                                       Immediate Release

Raleigh, North Carolina  27609

Jeff Dicks of Coldwell Banker Howard Perry & Walston has successfully completed the comprehensive Certified Foreclosure Agent specialist training course offered through Foreclosure.com, earning a prestigious designation that is reserved for the top real estate professionals in the industry.

” The Certified Foreclosure Agent Specialist distinction among Realtors is an indication to the professional community that  Jeff Dicks has met the rigorous standards of professionalism,expertise,objectivity and integrity in the field of distressed property and related consulting disciplines,” said Foreclosure.com Director of Education,Linda Yates.

Dicks joins the growing ranks of trained foreclosure-selling agents nationwide who are moving more properties more often despite soft market conditions. In fact, distressed real estate sales, which include foreclosures and short sales, are big business in today’s current market, accounting for 35 to 40 percent of transactions in the second quarter of 2009, according to the National Association of Realtors (NAR).

And the Certified Foreclosure Agent program- with it’s intensive training and testing process-is leading charge to educate agents, as well as connect with multiple buyers in their areas.

To embark on the career-changing journey, prospective applicants must first be licensed Realtors in their respective states. Implicit in this requirement is that the Certified Foreclosure Agent maintain at least a minimum number of hours of Continuing Professional Education(CPE) each year and conduct him or herself within the ethical mandates established by the profession.

Foreclosure.com also requires Certified Foreclosure Agent’s to obtain at least 12 hours of CPE each year in areas related to distressed property and/or foreclosure investing.

More recently, and ever growing we face the challenges of closing transactions in the Triangle due to the rising trend of Short Sales. Foreclosure properties having been in a short sale position is also trending higher.

A recent survey by a well respected market prognosticator for the Wake County real estate markets staed of the 41 market segments at 300k in the area, only 4 a balanced supply/demand. 37 of those had an 11month supply and prices are seen as going lower.

So, what does all this mean for the homebuyer and seller? No, different than buying stocks market timing is nearly impossible. The market bottoms and then prices rise to be simply put. When this will occur is anyone’s guess.

The fearless should be cautious and the cautious fearless. The bottom line is their are plenty of bargains for those whom couldn’t get into the housing market a few years back. Now is your opportunity. Sellers have to be realistic about their expectations. Recently, I was looking at a home for my buyer priced at 269k and the same floorplan and several sales in the area was showing this home to be valued more like 229k.

Now that’s are haircut. Mr. Buyer wants to pay the lower and Mr. Seller waits ……and more and more frequently I’m seeing these sellers finally give up and give the keys back to the bank.

The good news is were seeing an emergence of networks beginning to move in and assist both the lender and seller for a reasonable resolution and the seller can still leave their home with some dignity intact.

If your selling your home and your facing many uncertainties, contact a professional Real Estate Agent with the credentials to manage and has a network of professionals to navigate the transaction successfully.

 

Jeff Dicks 

Certified Foreclosure Agent