Doug Patterson ABR®, SFR REALTOR®: North Carolina: Winston Salem

TOWNHOME IN HISTORIC WEST END WINSTON SALEM NC WITH GARAGE

 THREE FULL BATHROOMS AND ONE HALF BATH                TWO  MASTER BEDROOMS

 EXTRA 3RD BEDROOM or STUDIO or Office!  

MLS# 585298        Appraised Value by NC Certified Residential Appraiser before Recent Improvements:  $234,350    

After improvements, List Price:  $237,900       

Here you'll also find beautiful period homes, many restored to reflect their original historic appearance.    Three blocks away is the Central YMCA and Hanes Park, a mile from Wake Forest Baptist Medical Center  and two miles from Wake Forest University, main campus. 

Keeping with this historic tradition, in 1985 these six units were built to blend into the neighborhood setting and yet cosmopolitan in nature.   There are 2 Upper level "Master Bedrooms".  Each has excellent closet space and a full bath (shower and tub).   

 There is another room in the lower level that also has a full bath.  This room is ideal for a 3rd bedroom, an office, or guest room.   All in all, it's approximately 1500 square feet (or more) of excellent living spaces.

Having a garage in uptown is truly a luxury!  This provides two off street parking spaces.

 Attic Storage available.

The living room has a brick, gas log fireplace, great crown mounding, recessed llighting  (with dimmers), built-in book shelving, and fabulous hardwood floors!    

The Galley Kitchen is open at both ends with natural light coming from the dining and living room area.

New stove, dishwasher, porcelain sink, designer faucet, and new disposal are great additions! 

Master Bedrooms 1 and 2  are shown here (prior to the move).   The entire home has been professionally painted in neutral colors.

The rear courtyard view from the patio of this unit is stunning!  The patio does not face any other units so it's very private.  Also, the courtyard does not have "street access" which makes it more secure and private as well...a great feature!

To see more detail, please enjoy a Photo Video Tour of this terrific home (includes music).   MLS# 585298 (Agent Owner)

Association Dues:  $400 Quarterly:  Includes Exterior Building Maintenance, Property Tax on Common Areas, Master Insurance Premium and Pest Extermination.         

I would like to help you reach your real estate goals.   Please visit our website at Park Place Real Estate . Perform FREE SEARCHES with your own free account with Listingbook, or  (MLS) Multiple Listing Searches of homes for sale in Winston Salem and the Greater NC Triad Region.  There is never an obligation to ever purchase or sell any real estate by using this free services.  

I'd love to hear from you and answer any questions you may have about real estate! Thanks for stopping by and please...  EMAIL Me Today with any comments or questions you may have.                         

FORECLOSURE HELP FOR HOMEOWNERS IN WINSTON SALEM NC

If you know of someone who is behind on mortgage payments, Click on This Video to learn about the new rules put into place in April, 2010, to help homeowners who are facing foreclosure for whatever reason.

The program is called "Home Affordable Foreclosure Alternatives",  HAFA for short. 

HAFA PROGRAM ELIGIBLITY

Short Sales processes have better rules now, under the guidelines of HAFA.    The Lender/Servicer of the homeowners loan must abide by the following:  T

• here must be a Uniform Process, using model forms, and there will be deadlines. 
• The Lender must establish in the beginning of the process what the closing costs and net proceeds will be as well as and what a "fair offer" will be for the home.  
• Lender/Servicers must participate in the program guidelines, which includes about 90 % of all Mortgage Lenders. 

The eligibility requirements are simple.  The homeowner going into default must not have purchased the home recently, and the balance owed cannot exceed $729,750.   The homeowner must be deliquent already or in a reasonably foreseeable future.  The program is not for investors, so you must be living in the home.  Finally, your payment must exceed 31% of your gross income.   To get more details go to "Making Home Affordable"

 I would like to help you reach your real estate goals. Please visit our website at Park Place Real Estate . Perform FREE SEARCHES for homes for sale in Winston Salem and the Greater NC Triad Region. There is no obligation to ever purchase or sell any real estate by using this free service.

I would love to hear from you and answer any questions you may have about real estate! Thanks for stopping by and please... EMAIL ME today with any comments or questions you may have.

Doug Patterson  ABR®

HOMES FOR SALE WINSTON SALEM NC -EXTERIOR REMODELING

Winston Salem homes are selling!  Spring has sprung, the neighborhoods are being spruced up, to enjoy a well deserved respite from the news "That Groundhog" gave us a several weeks ago.  It was a long winter to say the least!

                                                    Finally!  We're enjoying greener grass, the trees are budding, and the daffidils are blooming, especially in the established neighborhoods like where I live.  That's where you'll find the beauty of nature, because families have had time to see their efforts "take root", so to speak. 

It's also the time to begin those projects like exterior painting, enclosing a patio with privacy fencing or installing those energy efficient windows. 

Mine this year was the privacy fencing. 

We moved two houses down recently. I'll save that one for a later blog.  Anyway, the new house is on the corner and has no backyard privacy.  We have the best neighbors and we wanted to keep it that way.

Our garage doors are the white vinyl type, so I decided to stay with the same material and shoot for vinyl fencing to match.  I'm a firm believer in not having a variety of building materials used on a home exterior, which comes from my architectural background. 

I called Lowes Home Improvement and Home Depot to get some pricing, with the 12 months, no interest plan, of course!  Lowes got this one.    

Can you see why we needed a Privacy Fence?

I was intrigued at how simple it appeared, but that's because of Justin Latham's skill and experience which definately played a huge role. 

The land was pretty level, but not entirely.  How to match up the tops to be in a straight line was one decision process...                    

 As they made the 90 degree turn back towards the house, it was more important to me to have the tops level for that entire run, rather than "stepping it down" to meet the gradual slope of the land.  That decision turned out well.                

They ran into a problem next to the sunporch because the footing for the house extended out underground alittle too far, not allowing a post hole close enough to the structure.   No worries, though, because Justin cut a piece of another panel, used some additional brackets and secured it to the last post and the brick.   Problem Solved!

It was a good project and a pleasant experience.  I highly recommend Lowes' sales person, David Glascow, for the planning, estimating, and ordering materials.   You can contact David at (336) 768-2400. Justin Latham will do right by you, as he did for me!  (336) 477-5008 

Several of the neighbors have asked for his contact information to do other types of fencing for them.

I would like to help you reach your real estate goals.   Please visit our website at Park Place Real Estate . Perform FREE SEARCHES with your own free account with Listingbook, or  (MLS) Multiple Listing Searches of homes for sale in Winston Salem and the Greater NC Triad Region.  There is never an obligation to ever purchase or sell any real estate by using this free services.  

I'd love to hear from you and answer any questions you may have about real estate! Thanks for stopping by and please...  EMAIL Me Today with any comments or questions you may have.

TAX CREDITS FOR HOMES FOR SALE WINSTON SALEM TRIAD NC

Since we're all headed towards April 15th, Tax Day, I thought it would be appropriate to post information on the topic from House Logic , a service provided by the National Association of Realtors.  

Recentlly, one of my neighbors asked me if I knew if there were tax advantages for adding insulation in the ceiling of their garage and beefing up the existing insulation in the attic.  Just so happens that there are alot of tax credits along those lines.  Here are a few:

I would like to help you reach your real estate goals. Please visit our website at Park Place Real Estate . Perform FREE SEARCHES for homes for sale in Winston Salem and the Greater NC Triad Region. There is no obligation to ever purchase or sell any real estate by using this free service.

I would love to hear from you and answer any questions you may have about real estate! Thanks for stopping by and please... EMAIL ME today with any comments or questions you may have.

HOMES FOR SALE WINSTON SALEM TRIAD NC

Remodeling in preparation to sell your home can be a fun experience if you have the right contractor.  It can also be a disastrous ordeal for with the wrong leadership too. 

Let me introduce you to Fred Oskin, owner of Kitchen Saver of North Carolina located on Stratford Rd, in Winston Salem.   That name, Kitchen Saver,  is a little misleading, because they also do bathroom remodeling, laminate and tile flooring, as well as many other  home remodeling tasks that you can come up with! 

My personal experience with Fred Oskin, has been the remodeling of two kitchens.  One was in my personal home, and another in an investment property.   Fred is highly experienced, pleasant in nature, and easy to work with, from pricing the job to the finishing touches.    He has a good handle on what works and what doesn't, for your particular budget.  Impressive is the work, but let me stress the point that "his crew cleans up every single day...and leaves no dust, debris, or tools for you to be concerned with.  It's part of his well managed "production!"  Even my dog, "Winston", was treated with love and respect during the job!

The first kitchen started out with this dated look of the mid-70's.... with "White Bathroom Tile" counter tops... need I say more!....  

...And ended up looking like this...  Corian, smooth finish counters, under cabinet lighting (as well as strategic accent "can style" ceiling lighting , all with adjustable dimnmer switches, for setting just the right mood...

The cabinets were solid wood, so those were sanded inside, then stained lightly, giving new life to strong wood. 

This next kitchen needed "Kitchen Savers" desperately.  The "Pass-thru" design provided no counter work space. Take a look at these"Before and After" photos:

 No Pass-thru....just open space and more room to prepare food or to just socialize while enjoying the fireplace!

 If you are in the Triad Region, I highly recommend working with Fred and his team, Matt and Dayna, (as well as others) to achieve your redesign goals.  

I would like to help you reach your real estate goals.   Please visit our website at Park Place Real Estate . Perform FREE SEARCHES with your own free account with Listingbook, or  (MLS) Multiple Listing Searches of homes for sale in Winston Salem and the Greater NC Triad Region.  There is never an obligation to ever purchase or sell any real estate by using this free services.  

 I'd love to hear from you and answer any questions you may have about real estate! Thanks for stopping by and please...  EMAIL Me Today with any comments or questions you may have.

PREPARING TO PURCHASE HOMES IN WINSTON SALEM AND TRIAD NC LOCATIONS

Buying a home is one of the most detailed and expensive transactions that most people do in their lifetime. Preparing yourself to be positioned correctly to achieve the goal is a key factor for a successful and rewarding experience. 

There are definite "steps" that pave the way for home ownership,  whether it's your first home or your last home you plan to buy.   Here's the process:

FIRST on the list is to decide what you can afford to pay for your home.  In general, you can afford a home equal in value between two and three times your gross income.   Planning for short fall periods that will require some back up savings is wise.  Minimizing all your short term debt, like credit card debt is smart to consider, because it takes bulk payments to rid yourself of the high interest rate loans such as these.

• Consider a savings plan that will allow you enough money for a down payment.  Depending on how much you plan to spend on the purchase price, the down payment should be adequate to secure a good financing scheme with a mortgage lender.   If you have an IRA account, you can use that money you've save to buy your "First Home" without paying a penalty for early withdrawal.
• Take considerations on how much closing costs will be for things like taxes, attorney's fees, transfer fees, and escrows of insurance funds that may be required by your lender.  A good rule of thumb would be to have an average between 2% to 7% of the home price for these items. 

SECOND is to decide on a general location to begin your home searches.  Think about the things you like to do for recreation, schools for your children, safety issues concerning traffic and crime.  Research the areas chosen to take into consideration what city, county, and state governments have planned in those areas such as highway construction , or shopping center developments that may have an adverse change to your proposed neighborhoods. 

THIRD, check up on your Credit Scores.  Order your credit reports from the three reporting agencies.  They are:  Equifax, Transunion, and Experian.   Go over your credit reports for accuracy and if you find any errors, get them corrected at once.  Since a credit report tracks a history of your bad debts, any late payments and all other credit activity, it's vital that this report be a good as it can be.  Getting a "FICO Credit Score" is what your mortgage lender will use to determine what mortgage you may or may not qualify for.  Your "Score Power" is the key to the best interest rates and whether you can even obtain a mortgage.   

FOURTH is scheduling a meeting, either by telephone or in person, with a reputable Mortgage Lender.  This is a crucial step, unless you are paying cash for your home purchase.   Before you even begin "Searching for a home to Purchase", you must know what Mortgage Loan you will qualify for.  Sellers will not consider an "Offer to Purchase" without a "Pre-Approved Letter" from your Mortgage Lender, stating that you are financially able to purchase the home.   Some things you will want to gather for your meeting are:   W-2 forms,  copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

FIFTH is to calculate the costs of home ownership.   You should add up items like (1) Property Taxes, (2) Homeowners Insurance, (3) maintenance and utilities, and (4) Homeowners Association Dues (if applicable) 

SIXTH is to contact a REALTOR® and preferably one that is an "Accredited Buyer's Agent" (ABR®) from  the Real Estate Buyer's Agency Council of the National Association of REALTORS®. 

I would like to help you reach your real estate goals.   Please visit our website at Park Place Real Estate . Perform Free SEARCHES for homes for sale in Winston Salem and the Greater NC Triad Region.  There is no obligation to ever purchase or sell any real estate by using this free service.   I'd love to hear from you and answer any questions you may have about real estate!   EMAIL Me Today.  

Snow Day in Winston Salem, North Carolina

FIRST TIME HOME BUYERS FOR HOMES FOR SALE IN WINSTON SALEM TRIAD NC

There are several reasons why owning a home is better renting an apartment or a house.  The housing industry is set for an  upswing right now in the Winston Salem and greater Triad region of North Carolina.  The main reason is because of the tax incentive for First Time Home Buyers (as well as other homeowners now included)  Here's the basics for First Time Home Buyers:

TIME OF OF THE ESSENCE

• Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010
• The purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase
• Credit may only be awarded on homes purchased for $800,000 or less.
• Single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.
• The buyer will have until July 1, 2010 to close.

Here are several reasons why home ownership is better than renting:

1. Homeowners can deduct the interest paid on their mortgage and  the taxes paid on the property.   There are also some deductions for costs involved in the purchase process of a new home as well.
2. Real estate has long-term, stable growth in it's value.  Generally homes have a history of an average of 6.5% increase in value each year. 
3. By paying mortgage payments rather than rent, homeowners have the opportunity to build equity, unlike renting, where your dollars paid, are benefiting the landlord and not the homeowner.
4. Building equity in your home is like having a "Built-In Savings Plan".    When you sell your home, generally you can take up to $250,000 ($500,000 for married couples) as a gain without owing the government for income tax on that gain.
5. Rent payments usually go up every year.  A "Fixed-Mortgage" payment does not.  Taxes and insurance costs will increase.   But the longer you stay in your home, housing costs may actually decrease as opposed to renting.
6. You can decorate your home any way you want.   Landlords generally have restrictions to those sort of things.
7. Stability in family relationships, developing community activities and being good neighbors are great benefits of homeownership.  This stability also provides your children with lasting benefits of continuity in their educational pursuits, which is a great benefit of owning a home.

I would like to help you reach your real estate goals.   Please visit our website at Park Place Real Estate  to perform searches for homes for sale in the Winston Salem and the Greater Triad Region ... whether you're a  BUYER or a SELLER .  There is no obligation to ever purchase or sell any real estate by using this free service.

I'd love to hear from you!   EMAIL Me Today.

HAPPY HOLIDAYS

HAPPY HOLIDAYS !

FIND A REALTOR AGENT FOR HOMES FOR SALE IN WINSTON SALEM, TRIAD NC

Finding a real estate agent you can relate to will make the process of buying your new home a fun and rewarding experience.  The complexity of purchasing a home can be stressful and down right scary because it is something that most people do only a few times in their lives. It's an emotional time and making such a  huge financial commitment only adds to the stress.  Therefore finding a REALTOR® that is both highly skilled and a good match with your personality can be the key to your peace of mind.

How do you know if the REALTOR® you may be considering, has the skills to guide you through the buying process?  One important key would be the designation that agent may have as an "Accredited Buyer's Representation" or ABR® for short.  This designation comes from the Real Estate Buyer's Agent Council of The National Association of REALTORS®.   To qualify, the agent must have completed their accredited buyer's course and pass the final examination.  Additionally, the agent must submit a minimum of five completed transactions with accompanying  Settlement Statements and Buyer's Representative Contracts.  The agent must have  represented the buyer as their Exclusive Buyer's Representative and was not the Listing Agent or Sub-Agent for the Seller of the property.   The agent must attend and pass other related courses important to the buying process, such as "Negotiation for Real Estate Professionals". 

Other ways you can reduce the stress of buying a home is to "Plan Ahead" with such things as:  

• Getting approved for a mortgage ahead of time
• Investigate home insurance, especially if you are a first time home buyer
• Consider your time frames for moving
• Set up a budget to factor in maintenance and repair costs after your move

Another big consideration is buying the home you will love to live in.  There is no "right" time to purchase a home, just as there is no "perfect time" to sell.   The housing market doesn't change in the "Fast Mode", and a good home will not stay on the market for long.

It's a natural thing to ask all your friends and family members their opinions.  It is important to remember that the best method is really to focus on your wants and needs for your immediate family.  Those will be the  people that will be living in the home.  That process will serve you best.  An experienced REALTOR® who is also an Accredited Buyer's Agent will be able to help you to remain focused on your particular needs and desires as well.

There are many other factors that relate to buying a home, of course.  These are only a few thoughts that may help you get started with your journey.    

To learn more about our services, please visit our website at Park Place Real Estate .    If you're a  BUYER or a SELLER you can sign up (for free) to search for homes for sale in the Winston Salem and the Greater Triad Region.  There is no obligation to ever purchase or sell any real estate by using this service.

We'd love to hear from you!   EMAIL Me Today.                     

IS NOW THE TIME TO BUY A HOME FOR SALE IN WINSTON SALEM AND GREATER TRIAD NC ?

Well, let's analyze that and see it if is or not!  Only you can determine if the stars are in alignment for you personally to make a smart decision to buy a home for sale in Winston Salem or to wait.  With that said, let's look at other factors that could influence you to buy now as opposed to later. 

As we approach the new year, we all start looking at our record keeping. If you have an accountant doing your taxes each year, you have probably received a reminder of sorts about starting to organize your files and receipts to get a jump on "their tasks" of providing accurate tax returns.  If you've had a decent year, you may expect to pay some taxes when April 15th rolls around.  How would a $6,500 or $8,000 tax credit help you this year? 

If you answered like most of us, it would be great to have such a credit.  That may be available to you, if you act now. 

The basic rules are that you can't be earning over $225,000 as a married couple, or $125,000 for singles.  The tax credit will be up to $6,500 for married couples if you are selling a home that you've lived in for 5 consecutive years.  First time home-buyers will receive up to $8,000 (married couples) and $4,000 married, filing separately.   The limit on the purchase price of the home is $800,000. 

Did you know that in the Winston Salem, Triad area, home values have held upbetter that other parts of the country?  The reason why, is that we've never really "over-stated" our home values here, being the wise folks we are!  Therefore, we have sustained good value in our home ownership.  That's not to say, however, that prices are not down for a purchase, because in many circumstances, they are down. Job losses have contributed to that.   If your job is secure, you've got the advantage. 

Property Tax Values in Forsyth County were just appraised.   They do this every four years, therefore property taxes will remain as they are for awhile. Great care was given this time by our county officials, to reflect our values correctly during a down national economy.  I own several properties here and all of them went up in value.  Another good reason to buy a home for sale in Winston Salem and the Triad now.   

Currently, home mortgage interest rates are hovering at 4.75% for a 30 year fixed rate and 4.25% for a 15 year fixed rate, and with "no points" to buy!    Some lenders can also "lock in" these low rates before you even begin looking for a home!   So, if they do go up in a month or so, you will be protected!  

Other promising news includes:

• Mortgage rates are expected to remain low for an extended period
• Retail Sales were up in November, as we head into the holiday season
• Unemployment claims fell to the lowest level since February
• The net worth of US households rose 5% during the third quarter
• Oil prices fell to $70 per barrel from recent prices above $80 per barrel

If you have been "thinking about it"...Now is the time to act because to get the tax credit, you must be under contract to buy a home for sale in Winston Salem by April 30, 2010 and close on that purchase by July 1, 2010.  (First Time Homebuyers and now extended to include All Homebuyers!)

We are here to help you locate a Home for Sale in Winston Salem.   Visit our website at Park Place Real Estate .    If you're a  BUYER  or a SELLER you can sign up to search for homes for sale in the Winston Salem and Greater Triad Region for free.  There is never an obligation to ever purchase or sell any real estate!  

We'd love to hear from you!   EMAIL Me Today.

HOMEOWNERS INSURANCE FOR HOMES FOR SALE IN WINSTON SALEM TRIAD NC

When purchasing insurance for our homes, most of us don't really think about what will happen if I ever have to make a claim for damage.  We're usually just base everything on the determination of building and contents cost, the type of coverage desired such as actual cash value and/or replacement costs.     And we're off and running!    The policy is then written up, using language determined usually by state insurance departments.

Recently, I was speaking with my insurance provider and asked her for advice about what I could pass along to my home buyer clients. 

Her first pointers were... To "be careful about providing accurate information"....about these items: 

The Property Construction, It's Condition and It's Contents Values, that are being requested by our insurance provider. 

• We must ask questions to make sure we have a clear understanding of the key policy provisions and what optional coverages are available.  
• Asking questions about what exclusions or endoresments will be written into the policy is necessary as well. 
• We should discuss with our provider about what happens when a claim occurs
• Do we know how far the closest fire department is located from the home? 
• Are there smoke detectors located in the Prime Locations of the home, such as bedroom hallways, stairwells, and kitchens?
• Do we have a security alarm system? 
• Call your agent anytime you change circumstances around your home.
• Keep important documents in a fireproof safe or bank lock box.
• If purchasing a condo or towmhome, do we understand where our property responsibility is and where it ends? 

Like what circumstances?  Examples are...

• If you add on to your home, such as a sun porch or attached garage
• If you purchase new equipment, such as a new heat pump, or air handler in the attic
• If you enclose a carport making it into a garage
• If you add a new roof

Won't that make our policy premiums just 'go up"?   The answer, possibly.  But if you had a claim for damage, you would want improvements to your home to be accurate and included.  I agreed.

I asked if it was still true that photographs of everything in and around the home was truly a good idea.  She reported that photographs may provide proof positive to our written claims of personal property as well as to what may have led to the damage as well. 

What should we do when there is an investigation into the circumstances of a loss?

• Report the claim as quickly as it is possible to do so
• Protect the property from further damage
• Follow the adjuster's instructions and provide information requested
• As questions if we don't understand what is happening or why

Since all claims are different and some can be very complex, having the correct information when the policy is written can make a huge difference. 

My last question was,

How can we determine ahead of time if we're dealing with the right person and the right company?  

The answer, referrals from people that have had experience with the company and their agents was the best way.  Keeping up with the news published about local and national insurance companies can help us to avoid delays in claims settlements.  Purchase policies from people (agents) we trust.

 If you need help locating Homes for Sale in Winston Salem, please leave us a message at Park Place Real Estate .  We are here to help you.   If you're a  BUYER or a SELLER you can sign up for search for homes for sale in the Winston Salem and Greater Triad Region for free and with no obligations to ever purchase or sell any real estate!   We'd love to hear from you!