The Running Realtor

Right now I am sitting at the front desk of the Coldwell Banker office and the phones are ringing again! I've been getting referrals left and right these past couple weeks and can feel this real estate market coming back from the depths. I'll have less competition this year too, many agents couldn't survive the crash and moved on to new careers. Not the Wehmann Team, we set records for 2009 and plan on dominating in 2010.

Outside the office I am making big changes for myself in 2010 too. There are several things I'm set out to do in 2010 I've never done before. Here is a look at just a few, I'll let you decide which ones I'll be taking seriously:

So I couldn't of chosen a worse time of year to train for a marathon, I'm convinced of that much. This cold has been relentless, I've been looking forward to the forecast of it getting up to the 50's this weekend. I survived my longest run of the training so far, a twelve miler this past Sunday. The nice thing about the cold is I focus more on my frost bitten limbs than the fact my knees are giving out with each stride.

In the glamourous world of real estate, I have sat down with too many sellers latelty who want to move, but they bought in 2007 and their values have dropped or stayed the same. "I can't afford to lose $10,000 on the sale, I'll wait until next year once the market has recovered." This has been the reality and many listings I have to walk away from. But not before I give these home owners a realistic option.

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Take a look at how low interest rates are now and how soft the market it. Say you are moving up, selling your $200,000 home to buy a $300,000 home. You don't want to take a price cut of $10k so you'll wait until next year. But let's say next year the market's recovered, buyers aren't getting the same kind of deals and interest rates are back up. So much for that $10k you "thought" you were saving. Here's a look at the math:

Loan $300,000

Today's Rate: 4.875% 30 year

Monthly Payment $1,589

But you wait until next year and the interest rates are up-

Loan $300,000

Possible Rate: 6.0% 30 year

Monthly Payment $1,798

With these comparisons, you are paying $75,969 more in interest over the life of the loan. That isn't factoring the deal you can get in todays market, or the $8,000 or $6,500 tax credits available. You don't need to see much more to know that NOW is the time to buy, even if it means selling for less than you want. Thank you to Susan Trimmer for these #'s.

If you have read this far, you might be in luck. The first person to answer this question correctly and post the answer in the comment section below gets a $10 Starbucks gift card sent to you, by me.

Q: What James Taylor song reminds first-time buyers to obtain hazard and flood insurance?

Ho Ho Home for the Holidays

Happy Holidays everyone! I'll start you off with a little poem I wrote about the weather this week in the Triangle:

I feel like we got robbed this week in our State.

It's been raining for weeks. It's more than we can take.
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Then, the weatherman said "We'd see some snow-

an inch or twelve", he didn't quite know.
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The stores were soon packed - milk & bread quickly bought,

"I think I just saw a snowflake" or so they'd all thought.
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I soon located my sled and headed for the hills,

but with this "speckle" of snow, I couldn't catch any thrills.
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It snowed for a minute and then turned to rain.

Once more, I thought to myself - not more of this again.

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The Northeast was buried. They got a day off work,

Here "O'Fishel" can't leave his house for being called a "jerk".

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Winter is just starting, so I'll still make this wish,
Soon I'll be downhillin' on my neighbors satellite dish.

I will be spending the holidays here with my family in Chapel Hill. I've been in the office a lot for December, a typically slow month for real estate. I have been Triangle wide this month; a new listing in Raleigh, buyer under contract in Chapel Hill, and working with flippers to get a home ready for sale in Durham. That and getting all my New Years calendars ready to send out to you all.

2009 has been a roller coaster between work and life. The market went bust but it was another record year for my sales, my Dad and I joined up to form The Wehmann Team, and I got to see my nieces and nephews get one year older. I saw friends get married, have kids and start new lives, I had a best friend who's life was taken just as it was getting started. I hope that through all the madness of this past year you made it out the other side a brighter person.

In the spirit of old Saint Nick, I thought I would cover a home maintenance topic often overlooked until December: The Chimney. You don't want Santa shaking off all that soot in your living room, so think about getting it cleaned and inspected. It is recommended by the Chimney Safety Institute you have yours cleaned once a year, but that is a lot to ask of any homeowner.

When the soot starts to build up inside a chimney, there are more hazards than a smelly home. This soot can ignite up inside your fireplace, making it's way through any cracks that may exist causing a home fire. Build up in narrow pathways through fireplace, such as birds nests, may block the smoke then circulating carbon monoxide back into your home. This goes for gas fires too. So if it's been a while, have your chimney swept and inspected for your homes health.

Have a fun and safe New Years eve, and here's to a great 2010. Thanks to everyone who brought me business and referrals this year, and to all of those that read my blog I really appreciate it. I started this blog with a poem, might as well end it with a joke:

What did one snowman say to the other?

"Does it smell like carrots to you?"

Going The Distance

Gobble Gobble y'all, it's that time of year again. Work potlucks, tacky sweaters and road trips back home. I personally enjoy all of those things, and everything else that goes with the holidays. Many of you will be out hitting the stores this Black Friday, I personally avoid it. Although I do like the competition aspect of it. Storming to the back of a Home Depot at 5:45am to get my hands on one of ten graphite broom handles for only $4.99!

Running has never been a thing I've enjoyed, so no telling why I started training for a marathon. Maybe because I'm not a big fan of the gym, I seem to spend more time getting ready than I do in there. I've picked out a novice training program although it doesn't feel that way. The longest run I've had to endure so far is 6 miles, I ran 3 today in just under 24 minutes. Getting onto the sofa even feels like a strain afterwards, but I'm sticking with it. 16 more weeks to go!

Another part of the holidays is the real estate market slows down. This year is a little different than last however, October sales Triangle wide were up 26% from last year. These increases are good news for the market, but it should also be considered October 2008 was just about the complete bottom of the market. We also have the tax credit working to our advantage, helping existing and new home buyers now.

Many people don't want their home being showed over the holidays for good reason. Let's take a look at the other side of that, some advantages to listing this time of year:

1. The buyers looking this time of year tend to be more serious.

2. There are fewer homes on the market, less competition means more money for sellers.

3. Many people will buy before the end of the year for tax purposes.

4. Sell your home now so you have time to buy and take advantage of the $6,500 tax credit!

Since we are on the topic of Thanksgiving and delicious food, I'm glad to see a Trader Joe's has opened up near me. It would have been safer running through traffic than making your way through there on Opening Day, I tried. But when it settles down, get your hands on some of those appetizers. Most I've tried are delicious, and the Two Buck Chuck isn't too shabby either. I'm sure quite a few of you will be having a glass over the holidays.

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I'm looking forward to my high school 10 year class reunion this Friday. Geez how time flies. It's being held over at The Station in Carrboro, I hope there's enough room. It's a combo reunion of both high schools since many of us from East Chapel Hill High once attended Chapel Hill High. I'm sure people will still be arguing over which one is better.

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I'll be pulling for East Carolina to win their division this Saturday and host the C-USA title game, either way a solid season from Skip Holtz and the Pirates. It's also important to note this is the most dangerous holidays for driving and there are a high rate of accidents. Drive safe, take it slow and enjoy your Thanksgiving weekend.

To the Max!

Halloween is just the best, do I really have to wait another year for it? My sister Carrie put her seamstress skills to work and fixed me up with this "Max" costume from Where the Wild Things Are. Of course the year I wear a thick fabric suit it was 80 degrees out. Franklin Street was a good crowd even though the town is trying to close that chapter of Chapel Hill tradition. I'm sure this video kept a lot of people from joining the festivities, haha. My only regret is that I missed this flash mob that gathered for a Thriller rendition.

My blog domain name is ringing even truer these days. Per my home showings this Saturday, I began in Chapel Hill and ended in Garner. It's only right I had made the switch from TarHeel Broker to Triangle Broker a few years ago, I am covering all sides of the Triangle on a regular basis. I am consistently educating myself on all areas of the Triangle so I can be a good resource of information to my clients.

Over at my main website, http://www.liveinthetriangle.com/ has been invoked with a little bit of sound. Friend & musician Nick Bailey prepared a track he thought would be fitting and I think it does just the trick.

The decisions made in Washington this week could have a large impact on my business. I'm crossing my fingers that the tax credit extension is passed. This has proven to make an impact on home sales this past year and certainley on my business. The extension would include a new credit, if you have owned a home for 5 of the last 8 years you would be eligible for a $6,250 credit. The first time buyer credit of $8,000 would remain. Just waiting on the politicians in Washington to put their ink on it.

If your thinking to yourself, "I can't afford a house because I spend all my time & money on golf", don't worry. You aren't to be left out. Many have discovered the loop hole in the tax credit now being dubbed "Cash for Clubbers". Consumers are getting golf carts qualifying as street legal for almost free through the loophole in legislation. Ironically those people getting these free carts and playing golf frequently are not the targeted recipients of the governments bailout money. Somebody has to be yelling "fore" over this in Washington.

Local elections are underway and the streets of Chapel Hill are littered with signs. I'll be ready for these to be over so 1.)my For Sale & Open House signs can get some recognition again 2.)we need some better candidates involved in the Town Council. I'm endorsing Jon DeHart for this position. The last cycle of Council members issued themselves lifetime health coverage. Nice move during a recession guys. Matt Czajkowski was the only Council member to protest it, that will probably be enough to get him the votes for the Mayor position he looks to fill.

This week as I try to cope with my favorite holiday being over, I look forward to a Christmas full of egg nog and tacky sweater parties. There will be a holiday that involves lots of food and plenty of homes to show in the Traingle until then. After four years as a Realtor I'm used to work slowing down as we move towards winter. This year is turning out to be different, my Dad and I are both outfitted with clients and look to end our year strong. The amount referrals I have recieved this year from friends and past clients has been flattering. I appreciate everyone that trusts in the level of committment I give to my clients. Have a great week.

Tickled Pink

I know you are probably thinking, "Wow, another blog already? But he just wrote one." Well I am crazy...crazy for blogging. Ok moving on, I'm looking forward to another weekend and the last wedding I will be attending this year. That is pending none of my friends elope and ask me to attend, I have never known anyone to do that. Such a free country we live in.

It's been busy around our office this week preparing for Tickled Pink. Our group gets very involved with breast cancer awareness in October, this is one local event that we are involved with here in Chapel Hill. Some agents here spent many hours this week preparing this scene out front of our office. The pink pumpkins were painted that color, otherwise I'd be winning a ribbon at the fair with one of those.

So I'm going to give a brief snapshot on how the Triangle market has fared this year so far. We have seen our sales returning from 2008 albeit at a slow pace. The average sales price has only reduced 6% Triangle wide compared with 2008. Some areas like Chapel Hill have even seen a 12% rise in sale price. These are not bad numbers given that closed sales are down over 20% on the year.

The numbers show more homeowners have decided to stay put this year, with new homes on the market down 19% over 2009. With even less inventory the homes are still averaging 14% more days on market. A continuing trend into 2009 is the lower end homes are selling much better. The high end home market has been slower and spending even more time on the market. This trend is likely caused by the tighter lending limitations on the high end and great rates and a tax credit benefiting the low end market.

The market from my perspective has been great for my buyers. My dad and I have had 5 closings in the past 20 days alone. This next few months will be a real scramble as my first time buyers rush to get under contract before the end of the month. Most of my clients have been getting FHA loans, only requiring 3.5% down at a great rate. Many of them have used Whitney Long at Carolina Home Mortgage who has prepared their loan packages in less that 30 days.

I am glad to see my favorite band Widespread Panic is making it's way into the Carolinas. It's been a while since I've seen the boys. I am debating on heading up to Portsmouth, VA this Wednesday but will 100% be at the Raleigh show next Sunday.

I've been thinking a lot of my friend Chris since he passed a few weeks ago. Some days it still doesn't feel real. It's hard to think of going to concerts and tailgates this fall with out him around. I know he is missed very much by everyone.

Hope you all have a safe & relaxing weekend. Thanks for reading my blog on your Friday, hope you get to leave work early today.

Bright Side of the Road

I've been enjoying my new location downtown Raleigh lately. I fancy a nice bike ride or evening stroll, with lots to offer in the immediate area it's been quite dandy. A bike ride up to the Cameron Village Harris Teeter is much more enjoyable than fighting that cramped parking lot mess. A jog down to Five Points is the perfect run if you're like me and keep it under a mile. Or walk down to the new pizza place Sauced for a late night slice.

I work between Raleigh & Chapel Hill so the I-40 drive can be a bit tedious. As long as you don't get the mobile secretary driving 55 in the far left lane it goes by like a breeze though. That is one reason the Triangle keeps getting rave reviews and top rankings by so many publications. There is so much to offer in each town, from Raleigh to Durham & Chapel Hill; if you aren't enthused by one town you can skirt on down the road to the next.

I'd have trouble calculating the tax dollars going towards programs that so many people can't even access. $8,000 for each first time homebuyer, $4,000 for every clunker turned in. So here is a look at other programs that will help you get your piece of the pie while making your home more efficient.

Cash For Appliances

There is a federal program available this fall allowing consumers to get cash rebates when they buy new, energy efficient appliances. There will be $300 million in funding with rebates ranging from $50-$200. Lower your bills & spruce up your home at the same time. Remember, appliances are personal property & are not considered part of the sales price unless specified. You can always take these with you on your next move.

Efficiency Rebates

The government is rewarding homeowners that make their homes more efficient in other ways as well. From windows to roofs, insulation to water heaters. You can receive up to $1,500 in credit for installing eligible HVAC units right now. Make sure when purchasing any of these products you are educated in what qualifies for the credit. For those homeowners that will have to replace any of these in the near future, better act now before these credits expire.

It's no secret though there is talk about extending & increasing these credits, most importantly the home buyer credit. Tim Geithner acknowledged last week they would be looking into this. It's no gurantee though, so don't get caught looking if the put the brakes on the program. Maybe they'll do a clunker home trade in program. Matter a fact some builders in the Raleigh area are doing just that, allowing you to trade your existing home for one of theirs, plus the difference of course.

Well the football season is off to a fast start, just like ECU's loss column. That 1-2 record is good evidence how we appear to be playing though. Despite losing to UNC this weekend I had a great time at the game. You certainly get your money's worth of exercise tracking friends down at a UNC tailgate though, climbing parking deck stairs is a lot different than crossing the flat terrain of Greenville. An ECU football alum made headlines on theOnion.com last week in this article . Most of you ECU grads should get a kick out of it.

Chris Raynor Oct.20 1980-Sept.12 2009

Obituary

"If I had one gift that I could give you, my friend, it would be the ability to see yourself as others see you, because only then would you know how extremely special you are."~B.A. Billingsly

I'll always miss you Big Cat

Getaway's & Giveaway's

This week has been a bit crazy for me trying to get all caught up. I was out of town last week & a sure fire way to become busy as a Realtor is to go on vacation, it happens every time. Luckily my Dad & business partner was here to pick up all the slack. During the time I was gone he put our new listing under contract and wrote two offers for my first time homebuyer clients. Only 100 days left on the tax credit so lots of these folks I'm working with are starting to feel the squeeze.

The past week I spent down in St.Thomas with my girlfriend JoBeth. It was an amazing place and I'll miss the poolside drinks & that crystal clear water. What I found funny in the Virgin Islands is the law prohibiting you from driving with your shirt off. They'll slap you with a quick fine for that, but it's totally legal to tote an open beer while driving. If you see someone doing both at the same time you probably just pulled across the border into Georgia, now head on back to NC ya hear.

So one thing I've really enjoyed since making the move to Coldwell Banker is all the tools they make accessible for us. The entire way people start their home search is moving towards the internet and they realize that. New tools like this iPhone app give the property I sell much more exposure while being a great search tool for consumers at the same time.

This coming weekend will be a busy one with about 14 showings, a home inspection and a Sunday Open House. There I can at least look forward to eating my Ben & Jerry's, I can never give it away! Who would of thought passing off single scoop cups of ice cream on a hot day would be difficult. Maybe they don't want the added pressure of buying the house that comes with eating the agents delicious treats. There is however no commitment to buy after treating yourself to a scoop of my Chunky Monkey.

Well other than the busy forecast I'm hoping to get in some fun this weekend. I'll probably head to Carabba's for dinner one night with the gift card I won. Usually I win based on luck, but this was a home pricing competition and I came out on top. My market knowledge was strong that day. Anyways I hope that all of you have a splendid weekend. Download the new CB app on your iPhone and find a home I can show you next weekend!