Prudential Carolinas Realty Blog

Prudential Real Estate announces 2nd quarter award winners

Prudential Carolinas Realty is proud to acknowledge the following offices and individuals who received second quarter recognition from Prudential Real Estate:

Office Awards:

Offices with 76 or More Sales Associates:

Winston-Salem/Knollwood – 1^st Place, Residential GCI, and 1^st Place, Residential Units for U.S. Southern Region

Offices with 41-75 Sales Associates:

Winston-Salem/Oakwood – 1^st Place, Residential GCI, and 1^st Place, Residential Units for U.S. Southern Region

Durham – 2^nd Place, Residential Units for U.S. Southern Region

SouthPark – 3^rd Place, Residential GCI for U.S. Southern Region

Offices with 21-40 Sales Associates:

North Raleigh – 1^st Place, Residential GCI, & 2^nd Place, Residential Units for U.S. Southern Region

Glenwood – 2^nd Place, Residential GCI for U.S. Southern Region

Individual Awards:

Jim Allen Group, North Raleigh – 1^st Place, Residential GCI, and 1^st Place, Residential Units for North Carolina

Al Bunge Team, Green Valley – 2^nd Place, Commercial GCI for North Carolina

Tom Chitty & Associates, Inc., Green Valley – 2^nd Place, Residential GCI for North Carolina

Rex Osborne, Cary – 3^rd Place, Residential GCI for North Carolina

Prudential Real Estate has more than 68,000 sales professionals and 2100 sales offices in the U.S. and Canada.

Five graduate from Triad RED II course

Our newest Triad sales professionals completed the highly interactive, participant-centered Real Estate Dynamics II course Aug. 1. RED II is an intensive eight-day productivity course that combines business development strategies, presentation workshops and skill practices to help sales professionals interact successfully with home buyers and home sellers, in order to build their business. Congratulations to the following Triad sales associates (pictured left to right from bottom to top in photo at right):

Elaine Hillian – Winston-Salem/Knollwood

Justin Shaw – Kernersville

Vickie Caddell – Winston-Salem/Knollwood

Melodie Grimes – Winston-Salem/Oakwood

Dan Bryant – Director, Training and Education

Jim Dowell – Green Valley

A new kind of real estate search

Prudential Carolinas Realty proudly introduces today the all-new PruCarolinas.com, an industry-leading Web site with features not found on other real estate sites. With 84% of home buyers using the Internet during their home search* and buyers citing the Internet as their “most useful tool” when searching for a home, Prudential Carolinas Realty made producing a user-friendly, state-of-the-art Web site a top priority. The new PruCarolinas.com is designed to have one-click access to everything a consumer is looking for especially the search function.

The search function on the site is called One Search.
• One Search tool allows a guest to enter any search item – from a city or street name to an MLS number or agent name – into a Google-style search box and get immediate results.
• A guest can also use an interactive map to find properties that meet specific criteria, viewing all results on a single page.
• One Search page for every kind of search you are looking for. You can search for listings using the map, radius, school district, neighborhood, price, MLS area and the list goes on. You can search by any search criteria all from the same page.

To highlight some of the other features of the new site:
• Property photos can be viewed quickly by simply rolling over the thumbnails.
•  “You May Also Like” feature allows guests to immediately see information about properties similar to the ones they are currently viewing
•  A new tool called, My Home Finder which allows consumers to save properties of interest and get email updates for new properties that meet their search criteria. A simple log-in is all that’s needed.
• Community Calendar and area information is available o quick video slideshows of major communities, along with text that gives consumers a feel for the area. This section also includes a comprehensive
calendar of events for each community, allowing visitors to see exactly what’s going on and when. Guests can also “subscribe” to get emails or text messages when updates are made to selected community calendars.

Check out the new website at, PruCarolinas.com and let us know what you think.

Which community is right for you?

If you are buying a home, one of the first things your real estate professional will do before taking you on home tours is interview you to determine the type of house you want such as a 2,000 square-foot, four-bedroom, split level with a formal dining room and two-car garage. But just as important is the type of community you want to live in. Knowing what your requirements are will help narrow your home search and save time.

To expedite the house-hunting process, start by making a list of the dream home factors that are most important to you and your family’s lifestyle. Consider style, location, proximity to work and schools, yard size, children in the community and, of course, price.

Price and location generally are the key factors you’ll use to identify the communities that best suit you. If you are moving within the same city, you may want to start your community search by getting in your car and exploring. There are also resources on the Internet that let you compare communities.

You’ll want to ask yourself critical questions, such as:

• Do you dream of something quaint and charming that can only be found in an older area?
• Do you prefer everything new?
• Are you willing to sacrifice size and space for architectural detailing?
• What about drive and commute time to the office and schools?
• Will you forgo the number of bedrooms and a big yard for proximity to a lake or other recreational areas?

Whether you have children or not, buying a home in a community with good schools is important. It not only adds value to your property, but also is an attractive feature when and if you decide to sell. There are plenty of resources available to get information about schools within the communities you are considering. Various Internet sites offer school reports and profiles. They provide statistical data such as graduation rates, college-bound percentages, and standardized test scores. You can also learn about special programs the schools offer. In addition to these reports, many schools have their own Web sites you can peruse. And of course you can always talk to people in the area or take a tour of the school.

Additional factors you’ll want to consider during your community search are crime, recreational activities, proximity to shopping and restaurants, and other specific family needs.

Once you’ve narrowed your search to two or three communities that fit your price range and lifestyle, make comparisons of price and sales activity. Your real estate professional can help you determine which communities are most sales-worthy at present, and which are more likely to continue to be.

There are many factors involved in selecting the right community for you and your family. Discuss your options with your real estate professional. This will provide the information he or she needs to help you find property listings to tour.

Remember, a targeted approach to house hunting is less time consuming, less expensive and more efficient.

Can You Afford That House?

Before you start searching for your dream home, you first need to determine a price range you can afford. According to the Federal Housing Administration (FHA), depending on the consumers current debt ratio, most people can typically afford to pay 31 percent of their gross monthly income for mortgage payments. For example, if you earn $50,000 annually, then your monthly income is about $4,167. Thirty-one percent of that is $1,292.

There are several online tools to calculate a monthly mortgage you can afford using factors such as your current monthly expenses, down payment and the interest rate. You can also work with a lender to get pre-qualified for a loan. This estimate will help you gauge how much money you may be able to borrow and the monthly mortgage payments. You can also get a rough estimate of how much your closing costs will be.

However, the amount you are able to afford for a home loan should not be your only consideration for determining your price range. With homeownership come other housing expenses.

Utilities
The most obvious of additional housing expenses are utilitiesm gas, electricity and water. But don't forget about telephone, trash collection, and cable or satellite bills.

Taxes
As a property owner, you are responsible for property taxes. The rate will vary from city to city. In our community, the tax rate is (insert %) percent. That means for a home with a market value of $200,000, yearly taxes will run (insert dollar amount). To get a general idea on how much the tax bill will be for a property, ask the seller for a copy of the previous year's tax assessment. Your real estate professional can help you refine these figures.

Association Dues
Another cost you may incur is homeowner association (HOA) dues. Most condominiums and some (residential developments/subdivisions/neighborhoods) have HOAs, which are legal entities, created to maintain common areas and enforce deed restrictions. As a property owner, you are required to pay the established monthly or annual homeowner association dues. Be sure you factor this cost into your budget.

Maintenance
You also need to consider the upkeep of your home. You should budget for seasonal maintenance such as lawn care, pest inspections and carpet cleaning, as well as unexpected repairs. The amount you budget will depend on the age of the home, as older homes tend to require more repairs such as installing a new roof, painting and replacing older appliances.

Insurance
Depending on the type of coverage and your area, the costs for homeowners insurance each year can be anywhere from a few hundred to thousands of dollars. And, if you live in an area that has high risks for flooding, earthquakes, hurricanes, etc., you may need supplemental insurance.

Remodeling/Upgrades
Unless the home you purchase is picture perfect, you are more than likely be adding your personal touch. Therefore, you need add to your housing budget the costs for remodeling and upgrades. According to Remodeling Magazine 2007 Cost vs. Value Report, the national average for a midrange minor kitchen remodel is $21,185; a bathroom remodel averages $15,789.

Even minor cosmetic fix-ups such as light fixtures, window treatments, carpeting and decorative cabinet knobs can begin to add up.

By determining all the costs associated with homeownership, you can go into your home search with a reasonable price range that will allow you stay within your budget.

A home shopper's must haves

Shopping for a home is an exciting adventure and it’s easy to get lost in a sea of dazzling for-sale homes and all of their fabulous amenities – which can cause you to temporarily forget that a large backyard is your top priority. To keep yourself focused, take time to identify and organize exactly what you’re looking for in a home by creating thorough “must-have” and “wish” lists before you begin home shopping. You may also want to make a third list that details your dislikes.

To get started ask yourself these questionsWhich items and features must your home have? Which items and features would you like to have, but could live without? What would your dream house include? And, what features or issue must you avoid? For the must-have list, try to focus on essentials and hard-to-change details, like a home’s layout. If you must have a three-bedroom, two-bath house, put it on the list. Ranking your must-haves in order of importance is also a good idea.

Hard-to-change, must-have features can include the type of house, for example a two-story colonial or sprawling rancher; the number of rooms and square footage; the home’s proximity to shopping; or its overall condition. Your must-have list can’t be too detailed because it aims to itemize the features that are most important to you and your family.

Your wish list is the flexible and fun list. Wish lists are good for cosmetic features that would be great to have, but that can be changed. Hardwood floors can replace old wall-to-wall carpeting. If the yard is large enough and has adequate open space, a pool can be installed later. And landscaping can be a work in progress. Since the wish list is secondary, there are no limits so be sure to also include your dream amenities.

While compiling your lists, don’t hesitate to confer with your real estate professional, who is a great source for information about neighborhoods, homes and other pertinent “must-have” information.
Once you’ve determined your must-haves and optional features, create a checklist to take with you during your home tours. Besides helping you stay focused, it will provide an organized review of each house.

Your lists will most likely change as you tour homes and see what the market really has to offer. It’s also unlikely that one house will include all of your must-have features. But, your efforts will be well worth it once you find the perfect house that includes just enough must-haves and even a few wishes.

Your perfect home might not include that must-have basement, but its view may be a dream come true.

Five Tips for a Green Home

Eco-friendly. Carbon footprint. Global warming. Energy-efficient. These catch phrases have become part of our lexicon as we’ve become more aware of our impact on the environment and our role in protecting it. As a homeowner, there are some simple, inexpensive steps you can take to make your home energy-efficient. Get started on the road to being “green” with these five tips:

Change Your Light Bulbs
By replacing just five incandescent light bulbs with compact fluorescent (CFL) bulbs, you can save $100 per year on electric bills while using up to 75 percent less energy and removing greenhouse gases from the environment.

Buy ENERGY STAR® Appliances
ENERGY STAR-qualified appliances, such as refrigerators, washers and air conditioners, meet a higher level of energy efficiency set by the Environmental Protection Agency and U.S. Department of Energy than standard models. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be compared to planting 1.7 million new acres of trees. And, switching to these appliances is not only good for the environment, but easy on your pocketbook. Although these appliances may costs more, you can reduce your energy bill by $80 per year.

Seal Up
Cracks and air leaks represent cash seeping from your doors and windows. Get rid of air leaks in doors, windows and other areas by caulking gaps and cracks. This will help decrease your heating and air conditioning bill. But make sure you use silicone sealants. Acrylic caulk tends to shrink, while silicone sealants are waterproof and won’t shrink or crack, creating less waste.

Use Less Water
Did you know that roughly 60 percent of a home's water consumption takes place in the bathroom, according to the California Urban Water Conservation Council? The largest culprit is the toilet, which accounts for 27 percent of your household supply every year. By installing low-flow toilets, showerheads and faucets, you can save thousands of gallons of water each year. In addition, replace leaky fixtures. That slow-dripping faucet can waste as much as 2,400 gallons of water per year.

Adjust the Thermostat
When adjusting your home’s thermostat, the rule of thumb should be: turn up the dial in the summer and down in the winter. Lowering the temperature by just one degree will reduce your electrical costs. And if you use a programmable thermostat, you can program your air-conditioning and heating systems to reduce output while no one is at home or at night while you sleep. Ceiling fans are also helpful in circulating the air to keep the room cool in the summer and warm in the winter.

Going green doesn’t have to be overwhelming or costly. By making just a few small changes within your home, you can help decrease energy consumption and help make the world a “greener” place.

Shift Happens - real estate

Buyers and sellers are changing their behaviors when it comes to real estate transactions and Prudential Carolinas Realty is committed to meeting them where they are, with the information they want, on their terms. We created this video on YouTube to share some compelling statistics on today's buyers and sellers primarily from the 2007 NAR Profile of Home Buyers and Sellers report. Enjoy!

Avoid Seller Mistakes

You want to get the best price for your home, plus sell it in the least amount of time. In a buyers’ market, homes will take longer to sell. Therefore, it’s important that you make the right moves at the very beginning of your home selling process to remain competitive. Here are some common traps that many homeowners fall into and how to avoid them.

1. Over-pricing — It’s easy to think your home is worth more than the current market may support, particularly after the long run-up in home prices. Since home prices have cooled in markets around the country, home sellers must be prepared to negotiate on price and terms, and stay flexible to other stipulations benefiting the buyer. Sellers must also keep their emotions in check during the process. After all, your home is special to you and your family, and you’re proud of the improvements you’ve made over the years. But, how does your home really stand up to the others? And are those improvements important to a potential buyer?

To determine a reasonable listing price, get sales statistics on homes in the neighborhood including listing prices and actual sales prices, how long it took for the homes to sell, and government valuation comparisons. You’ll also want a market appraisal on your property. Visit homes for sale in your area and compare what you see in terms of sales appeal.

2. Negligent Housekeeping - Buyers need to be able to envision themselves living in the home. Take a good, objective look at the condition of your home. Clean, well-kept homes with an updated appearance always stand out, and a little decorating appeal can go a long way. You don't have to buy new furniture to create charm, but you can put toys and clutter away, freshen up paint and carpet, make the most of window coverings, and add a few key accessories in order to send out welcoming signals.

3. Failing to Fix-It — Buyers, unless they are looking for a fixer-upper, would prefer to move into a home that is in perfect or near-perfect condition. If they have to fix the roof, a broken tile floor, the garage door, worn carpet or just about anything, this may give them pause about buying. At the very least, it may lower the value of the home in the prospective buyer's mind.

4. Not Identifying Exclusions — This can be a cause of contention just at a critical point in the sale. Be sure to specify any special sales considerations or exclusions from the fixtures and furnishings list. Generally, anything permanently fixed to the house is an asset that stays with the home after the sale. So if you intend to take your grandmother's antique chandelier that’s hanging in the dining room, clearly specify that the chandelier is not included in the sale price.

5. Not Understanding the Agent Agreement — Your sales endeavor will go smoothest when all parties have a clear understanding of what is expected. Understand the types of agency agreements when you sign with a real estate professional or company. Be sure to check on fees, commission percentages, marketing plans and time frames. Most importantly, get everything in writing.

There is more to this market than a sound bite

A question heard lately from buyers and sellers is, “What's really going on in our real estate market?” That question is no doubt prompted by sound bites heard and read in the national news ...sound bites that may not accurately reflect the reality of our local market.

So, what is the reality of our market? Simply this:

For BUYERS, this is a great time to buy!
• Interest Rates – Mortgage rates remain at historically low levels.
• Choices – Current inventories offer many wonderful homes from which to choose.
• Your Sales Associate – Your Prudential Carolinas Realty sales associate will not only help you find just the right home, but will take care of all the details along the way.

And for SELLERS, it's a very good time to sell
• Substantial Equity – Most homeowners have realized significant gains from the rapid appreciation of the past few years.
• Many Local and National Buyers – By pricing your home competitively and presenting it in its best light, you will attract the attention of many local buyers and outside buyers
• Your Sales Associate – The knowledge, skill, and service provided by your Prudential Carolinas sales associate will allow you to maximize your opportunity in today's market.