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Cary, NC Real Estate News

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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Cary, NC:  Ridgepath is our tour today. Ridgepath is a mature neighborhood in the center of Cary, NC.  Access to the neighborhood is from the SE Cary Parkway, or through Wimbledon.  Access and egress to and from the neighborhood are easily accomplished.  Raleigh  and North Carolina State University are an easy 15 to 20 minute commute.  The Research Triangle Park, "RTP," is about 25 minutes.  Both commutes can lengthen during heavy drive-time traffic. Ridgepath was developed in the mid-1980's to mid-1990's. Classic one-and-one-half and two-story homes comprise Ridgepath, with home sizes ranging from 1800 to 2900 square feet.  Typical amenities include 3 to 5 bedrooms, 2.5 or 3.5 baths, beautiful .28 to .40 acre heavily wooded lots, garages, natural gas heat, and a suburban cul-de-sac str...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
I KNOW - I KNOW!!  I've spent the past several months bragging about how strong the Triangle Market is and how business is going gangbusters.  I planned to ride that wave through the end of year and then a funny thing happened.  The kids went back to school, the mortgage market went haywire, and just like that the buyers dissappeared!!!  Where have all of my buyers gone? Where did all of the investors go?  Now I have another challenge that I need your input on.  I have another listing that has now been on the market for a little over 30 days and it hasn't sold. (Yes, 30 days is a long time in my market and a critical window of opportunity in which to sell a home. )My sellers are "stuck" in the mindset of the summer market and can't seem to come to the realization that the market is chan...
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Ever lose a Buyer at the client's request?Ever fight it?  I don't mean working hard to learn what the problem is, and then trying to make it work out.  I mean fighting contentiously to keep the client because you have a contract.There is sometimes resistance to signing an "Exclusive Right to Represent Buyer" agreement, and part of it is because folks are nervous about getting into something from which they can't escape if it isn't working.I tell prospective clients, "I would rather part as friends with a thousand people than work with one enemy."  You will never work a longer day/week/month in real estate than when trying to serve someone whom you don't like, or who just doesn't want to work with you.  Or as a client, working with an agent whom you just don't feel you mesh with.Why forc...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
A backhoe operator pierced a gas main today before lunch at the intersection of Kildaire Farm and Tryon Roads in Cary, NC.   Our Keller Williams Cary office is just down the street less than a quarter mile.  This is one of the busiest intersections in Cary, and will be blocked off for most of the evening, and then as long as it takes to repair the road.Businesses were evacuated, and ambulances to the nearby Wake Med Cary Hospital were diverted.  Traffic will be snarled all evening, as the fire continues to burn while the Gas Company attempts to install a stop valve.  Flames reach an estimated 100 feet into the sky.  Of course, this is a news bonanza, with all the usual suspects camped out:
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
City:  Cary Location:  Off of Highway 55 from RTP.  Right on McCrimmon Parkway. Right on Green Level to Durham Road. Left into Subdivision. Neighborhood Facts: Price range is from the $500s -$1M's Located in the fast growing Northwest Cary area.    All homes in Weycroft are custom built Homes are all over a quarter of an acre   BUILDERS: Amward Builders Ange Construction Company Bluepoint Homes Carolinian Homes, Inc. Homes by Dickerson Homescape Building Company Impact Design-Build, Inc. Legacy Custom Homes  Poythress Construction, Inc. Poythress Homes, Inc. Wardson Construction, Inc. Weycroft is brought to you by the same award-winning team responsible for the success at Highcroft and Cameron Pond in Cary.  Neighborhood amenities and playground are provided by Cameron Pond just down th...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
Ernie McAllister is running for re-election tomorrow against a strong opponent, Harold Weinbrecht (a personal tennis friend of my husband's).  The two faced off in a heated debate on the local Cary TV News last week and I wish I could summarize the point-counter points for you but I failed to take notes.   On the one side you have Ernie that supports a managed growth policy.  On the other hand (pictured on your left) you have Harold that says that growth is out of control.  As most of you know I often write about the tremendous growth that has taken place in Cary since I moved here in 1994.  The Town of Cary looks like a completely different town than when I moved here.  Cary experienced a boom in the late 80's and early 90's with little infrastructure in place.  In comes Glen Lang to ...
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By Ricardo Cobos
(SunTrust Mortgage)
What Lenders Look for in Home Loan Applications Once your loan application is filled out and sent to the lender for review, the first thing they will look for is your ability to payback the loan you are requesting. My team and I have a streamlined loan process to help you get your ducks in a row prior to this review. A grand slam loan package is in perfect order and answers all the important questions up front. We know what the lenders are looking for, based on long-term relationships with them and extensive knowledge of guidelines for a multitude of loan programs that are available today. What is the lender looking for when they review the loan application? The lender wants to know about your personal financial picture, including savings and credit history and your employment stability...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
I just received a referral from my corporate office for a group of prospective investors  who are entertaining the possibility of investing in the Raleigh, Cary, Durham, and Chapel Hill NC areas.  Since I have worked successfully with investors in the past I generally get the call because they have unique needs.  This group currently lives in Florida but the real estate market is quite slow down there so they are looking to other areas to invest!  This year I've received calls from many investors in struggling markets including California, Arizona, Florida, and New York.  That said, I want to outline some of the attributes that I bring to the table that make me uniquely qualified to work with investors: Finance Degree - I understand the numbers!! Received Certificate in Financial Planni...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
City: Cary Directions:  Located off Ederlee Drive and Regency Parkway It's been a few years in the making but the homes at Renaissance at Regency are finally ready - well almost.   There will be three sections in Renaissance at Regency- the Cottages, the Manors, and the Estates.  The Estate and Manor homes are now under construction and start at $1.5M for the Estates and $900k for the Manors.  Construction on the Cottages will begin early 2008 and will start at $730k.  This neighborhood, developed by Creedmoor Partners, has a more European flair than any other neighborhood in the Triangle - with the exception of Hasentree which is also being developed by Creedmoor Partners.  Architectural features that are noticeable include turrets, elongated chimneys, carriage doors on the garage, and...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Ambience in Cary, NC is a small subdivision near the intersection of Tryon Road and Kildaire Farm Road.  It was built out in the 1980's and 1990's, with custom homes on gorgeous wooded lots of over 1/2 acre.  This location places all that Cary has to offer within easy reach, and allows a quick commute to Raleigh, NC and North Carolina State University.See the Ambience Slideshow on Flickr.Ambience homes tend to be traditional in design, although there are a couple of contemporary-style homes in the neighborhood.  4 or 5  bedrooms with 2.5 to 3.5 baths are common, with homes ranging from 2500 to over 3500 square feet.  The most recent sale was nearly 2 years ago.  It seems that residents become content in Ambience and put down roots.  I would predict that most homes in Ambience would fetc...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Thornewood is a neighborhood in a wonderful central Cary, NC location, with easy access to Cary, downtown Raleigh, and NC State University.  It is well-known for the stunning traditional colonial homes that make up the neighborhood.  Thornewood offers large wooded lots, and tree-lined streets like these.Visit my Thornewood Slideshow on Flickr to see 28 images of Thornewood.Thornewood is one of those neighborhoods where homes don't sell often.  It seems that residents are too content there to want to move.  When Thornewood homes hit the market, they don't last long.   Most recent sales have been in the $300,000's, and it is reasonable to expect some of these homes to sell in the $400,000's.  Most homes are in the 2400 square feet to 3200 square feet range.  3 or 4 bedrooms, and 2.5 baths...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Troon Village couldn't be in a better location in Cary, NC!  From this condominium complex, you can walk across the street to Trader Joes, Staples, and several other retail services and restaurants.  Just down Kildaire Farm Road, all sorts of retail and services exist, as well as Western Wake Medical Center.  The community is bordered by Wimbledon, a beautiful Cary subdivision that ensures a quiet neighbor.  There is no street access into Wimbledon, so the communities do not create undesired through traffic for each other. See the Troon Village slideshow on Flickr. Click here to view available Active Listings in Troon. Convenience and easy living are the watchwords at Troon.  The Home Owners Association handles all exterior building and grounds maintenance, including the common areas a...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Wellington Place and Wellington Park were built in the 1980's off Tryon Road in Cary, North Carolina.   Wellington Place residents enjoy two community ponds. See the Flickr slideshow featuring 60 photos of the neighborhood.   Pulte Homes was the builder.  Homes in Wellington Place have 3 to 5 bedrooms, and 2.5 to 3.5 baths.  Square footages range from 1600SF to 3400SF.  Recent sales have been in the mid- to upper-$200,000's.  Some homes back to the ponds for pleasant natural vistas. Click to view available Active Listings in Wellington. Wellington Place and Wellington Park have a homeowners' association for maintenance of common areas, clubhouse, swimming pool, and tennis courts.  Dues are approximately $40.00/month.   Wake County Public School System is responsible for administering ed...
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By Ricardo Cobos
(SunTrust Mortgage)
The EPA on Home SafetyReducing the RisksDon't wait for a discerning buyer to find faults in a listed property. The EPA website (http://www.epa.gov/) has tons of useful information on possible hazards in a home, and you should at least check the following conditions as part of the listing process.Radon Gas - In January of 2004, the HUD home inspection form for FHA loans (HUD 92564-CN) was modified to include information on radon content in indoor air. This form (updated again in June of 2006) is mandatory for all FHA-insured mortgages, which means a good portion of buyers may request a radon inspection as part of the home inspection process. To find a radon service professional, visit http://www.epa.gov/iaq/whereyoulive.htmlAsbestos - Asbestos may not be easily identified, so consult wit...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
City:  Cary Location:  Just West of Davis Drive & High House Road. Directions:  From  Cary Parkway travel West on High House Road past Davis Drive and turn left onto Cranborne into the Subdivision.  Neighborhood Facts: Price range is from the  mid $300s -low $400s. Next to Davis Drive Elementary! Most families choose Wellsley because of the value for the home and sense of community. Wellsley - What a great neighborhood!!  These homes were built in the early 1990s by a number of local custom builders and marketed by Fonville Morisey Builder Marketing Group.      Located close to the award winning Davis Drive Elementary & Middle Schools, Wellsley offers a nice, affordable community in a premium location! Wellsley is a beautifully landscaped community with tremendous amenities including a ...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
Did you know that North Carolina surpassed Florida as the #1 Retirement State in the country several years back?  And, to add to that, that Raleigh ranked as the #4 "Best Place to Retire" and the # 3 "Best Place to Reinvent Yourself?"  To view the complete article from AARP click here.  So what makes the Triangle area so appealing for Active 55+ Seniors?  Great housing Nice weather Low crime rate High standard of living Great hospitals Excellent transportation to the airport w/little congestion Interstate Highways Amtrack railway system that connects the East Coast Location, Location, Location - We are an our and a half to the beach and the mountains are about three hours away Photo of Seniors in the Park courtesy of Flicker  One overlooked resource that helps keep Seniors active in thi...
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By Ricardo Cobos
(SunTrust Mortgage)
High Credit Score = Low Mortgage Rate Credit scoring was developed in the 1960s as a means to determine whether or not consumers were likely to repay their loans. The score ranges from 350 to 850 with a higher score being extremely favorable. Essentially, a high credit score translates into lower interest rates for the borrower. There are five factors that comprise the credit score. Payment history accounts for 35% of the score; outstanding credit balances have a 30% impact; credit history makes up 15%, type of credit factors at 10%; and inquiries influence the score by 10%. This gives the lender a snapshot of an individual's sense of financial responsibility and ability to pay back loans. There are many quick tricks to improve the credit score, and I can provide borrowers with more inf...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
The concept is a relatively simple one. Cary Park is a neighborhood where people live, work and play. Families here get virtually all of their needs met in one neighborhood without ever having to hop in the car. And without ever having to leave home. Then, put this unique, state-of-the-art, exceptionally pedestrian-friendly village a few short miles from the Research Triangle Park. Cary Park features a 30-acre lake, biking and walking trails, swim club, village center and even a fantastic complex with the new Mills Park Elementary school & Mills Park Middle School coming in 2010 as well as the YMCA complex right next to the schools! Cary Park was designed around people, not the automobile. Sidewalks typically line both sides of every street, creating a safe environment for walking arou...
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By Ricardo Cobos
(SunTrust Mortgage)
Lower Fed Rate Means Opportunities on the Rise For the first time in more than four years, the Federal Reserve cut its Fed Funds Rate, which directly impacts millions of American borrowers. And while this important decision has many implications, there’s still some debate among experts about what this means to the economy as a whole. The Federal Reserve meets again in six weeks, and no one is certain how market volatility and inflation concerns will affect their future policy and decision-making. Bottom line: Take advantage of this opportunity while you still can. Call me right away. If you’re looking to capture a lower interest rate for refinancing or buying a home, this could be your best opportunity to do so.If you have an Adjustable Rate Mortgage, while this rate cut might help to ...
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