Chapel Hill and Durham Real Estate Blog

Chapel Hill - Durham Real Estate Blog

Jodi Bakst

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This video contains a testimonial from one of Team Jodi's seller clients. The sale of this house was a huge success. The sellers explain how pricing and staging a house properly will get your house sold.

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Open House:  Sunday, March 20th From 2-4 pm 

Durham Home For Sale - 1408 Pebble Creek Crossing

by Jodi Bakst

Team Jodi has been a pristine, bright and spacious home on the market in SW Durham's Auburn Neighborhood. 

3 Reasons the Term “Strategic Default” Is Misleading

by Jodi Bakst

In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth).

Now that more than one in four American homeowners is “underwater,” I feel that it’s important for the community to know the truth about strategic default.

The truth is the foreclosure process carries with it credit issues, current and future employment challenges, issues with security clearance and possible debt collections.

That’s why it is vital to explain the 3 reasons why the term “strategic default” is misleading:

  1. There’s nothing strategic about defaulting on purpose, especially when you have options like short sales, mortgage modifications, and refinance (just to name a few) that may keep you from foreclosure.
  2. The waiting periods to apply for a new mortgage loan are at least five years less in a short sale vs. a foreclosure.
  3. A foreclosure will show up on your credit report every time you apply for a home loan, car loan, new job, etc., and will affect your financial situation for many years to come.

If you are underwater and can no longer afford your mortgage payments, you need to create a genuine strategy to avoid foreclosure, helping to provide stability for you and our community.

If you have any questions about what steps you or someone you care about should take next, contact me today at shortsales@teamjodi.com or visit my web site at www.ShortSalesinNC.net and read my latest report entitled, "Don't Walk Away From Your Mortgage: Stragetic Default is Never Strategic."

 

January Market Stats for Chapel Hill and Durham

by Jodi Bakst

The January numbers are out and they are interesting.  While there are differences by area, in Chapel Hill, Durham and Orange County, closed sales were up in January compared with last January and average prices are up and days on market are down.

This would lead you to believe that the market is getting better.  I am very suspect.  It is now March and the market should be in full swing but it is not.  It is very unclear how this year is going to stack up.

Interest rates dipped below 5% again.  With rates as strong as ever, this is still a good time buy.

So, here are the specific numbers. . .

 

Chapel Hill- Carrboro

 

  • Listings are down 16.8% from January last year.  This means there is less inventory on the market.  With shrinking inventory, this could mean more competition in the future.
  • Sales were up  41.7% from January last year.  This is a huge increase.   
  • Median sales prices are up 42.4%. 
  • Average prices are up 37.9%. 
  • The list to sales price ratio is 96.5%.  
  • The average days on market are also down 14%.  Days on market were 149 last January and this January it was 128.
  • These are all very positive indicators!

Durham

  • Listings are down 13% from January last year.
  • January sales in Durham were up 3.8%. 
  • Median sales prices are up 6.1%.
  • Average prices are up 4.7%.
  • The list to sales price ratio is down from 96.4% to 95.4% which means that sellers in Durham are getting even less these days.
  • Days on market have changed significantly since last year.  Last January DOM were 8.  In January, DOM was 128.  It is taking longer to get homes sold in Durham.

 

I will be watching the market closely and will report the February numbers as soon as they come out. 

Are you interested in knowing your home’s value or getting sales information for your neighborhood?  Visit www.TriangleHomeValue.com and register for a free report. 

Are you interested in looking for a home in Chapel Hill, Durham or the surrounding area, visit www.TriangleHomeSearch.net and register for an auto home search with emails sent to you every time a property comes on the market that meets your criteria or when there is a price or status change in properties of interest. 

 

New Listing - Transitional Cape Cod on Acre+ Lot

by Jodi Bakst

Team Jodi has put a wonderful updated Cape Cod on the market.  This home now has a wonderful, transitional floorplan and upgrades and special features throughout. 

 

Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Team Jodi has just listed an executive home for short sale in Chapel Hill's Hunts Reserve

Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Chapel Hill Named Top 2011 Destination

by Jodi Bakst

It will come as no surprise, Chapel Hill has been named one of the top Distinctive Destinations.  This honor was just bestowed by the National Trust for Historic Preservation.  Chapel Hill was selected for its "charm, cultural offerings and dedication to protecting its heritage."

This is a high honor and one that Chapel Hill deserves.

Chapel Hill is one of 12 cities that has been put on the top Distinctive Destination list.

It is time to vote!!!  Between today and March 15th, you can vote for which city you think deserves the top honor. 

I encourage you to go to www.PreservationNation.org and vote for Chapel Hill today!

I will report back in mid-March with the winner of the competition.  Of course it will be Chapel Hill!

   

 

Meet Team Jodi Property Management Group

by Jodi Bakst

Meet Team Jodi Property Management Group

This video introduces Bill Matthes and Heidi Manik who are running Team Jodi Property Management Group.  They explain why Team Jodi PMG was formed and the services provided.

Team Jodi PMG:  Rental Property and Home Owner Association (HOA) Management

Team Jodi PMG:

  • Has Highly qualified Rental and HOA Management Specialists;
  • Tailors Contracts to Meet our Client's Goals;
  • Systems to Manage Every Phase of the Rental and HOA Management Processes; and
  • The Staffing to Inspect and Maintain Your Property or Neighborhood.

For more information view www.TeamJodiPMG.com.

New Listing in N. Chatham's Powell Place

by Jodi Bakst

Beautifully Appointed in N. Chatham's Powell Place Neighborhood 

Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill Real Estate and Durham Homes for Sale

Click here to Search homes for sale in Chapel Hill and Durham and the surrounding Triangle NC area

Displaying blog entries 231-240 of 512

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