A recent pre-listing inspection I performed for a homeowner this week reinforced just how little homeowners know about inspections in general and how much we inspectors have to do to educate them. Before I tell this story, I want to relate what my aunt told me regarding what she wanted in an inspection. Her gripe was along the lines of this: 'I don't want to know about the broken lock or the door that sticks, I can see those myself.  I want to know if the furnace is working.' All very well and good. Just the big issues I can't see for myself.  But let's look at this typical expectation, and why it needs to be addressed: First, many homeowners don't notice these small things when they are being shown the house, and when they do notice them later upon buying and moving in, who do you thin... 06/01/2008

  Time for some updated numbers on Springcrest. Springcrest is located on the east side of Erwin Road just north of the Sage Rd. intersection. It is convenient to everything, and is within walking distance of East Chapel Hill High School. (OK, it is a long walk, but high school kids can use the exercise.) It is just a short hop to 15-501, Duke, UNC, shopping and other area services. The chart shows the number and stats of the active homes in Springcrest, as well as the houses that have closed in the past six months. Activity has picked up since February, which is usual. But take a look at the average asking price/sf vs. the average selling price/sf. This could be a reason the Days on Market has crept up. Today’s market is not the same as two years ago. Asking prices need to take this in... 05/30/2008

I had a tennis match in Chapel Hill last week and couldn't resist stopping into my favorite local store - A Southern Season.  We are so fortunate to have anything in our area like A Southern Season.  I wrote a previous article called, " Try A Southern Season if you enjoy the finer things in life"  and by the pictures you can see that A Southern Season has all of the things in life that are Very Fine indeed.  Each Year Southern Season holds a fabulous sale and everything in the store -yes that's everything - is a minimum of 25% off.  Of course I stopped by on Tuesday and the sale started on Wednesday - just my luck.  The sale runs through July 4th.  So, if gas prices are getting you down but you still enjoy A Southern Season, you'll have to visit during the Sale.  Online purchases don't ... 05/26/2008

Time for an update on the statistics in the Stoneridge/Sedgefield neighborhood. It is located along Whitfield Road about one mile east of 86. It is in the area that is in the Chapel Hill School District, but not in the city limits. So, great schools, but no city tax. (There is a special school tax, but it is worth it!) Most of the homes in this neighborhood were built in the early to mid eighties, with at least an acre of land. The chart shows the number and stats of the active homes in Stoneridge/Sedgefield as well as the houses that have closed in the past six months. These figures are a pretty good indicator of the average price in this neighborhood. You occasionally get houses priced much higher, but those are BIG houses on BIG lots! So, if you want to be close to everything, but s... 05/07/2008

OK. The price of gas is soaring with no end in sight. It is impacting food prices, delivery prices, you name it. It seems to negatively touch every part of your life. But does it impact the sale of your house? In a word, yes. Think about it. You have two houses similar in size, yard, schools, etc. The only difference is one of them is 15 miles from everything. The other is 1 mile. Which do you think will sell? At $1 or even $2 a gallon, maybe no big deal. But with gas in sight of $5 a gallon you better believe buyers will take it into account. So, what do you do? If you are the house close to everything, rejoice and play up that aspect! If you are out in the wilderness, don’t necessarily despair. There are buyers who will WANT to be far from everything. Play up the privacy, solitude, c... 04/29/2008

Two years ago the economy was strong; the sub-prime/mortgage crisis was a "whisper" in distant cities (L.A, Phoenix, Las Vegas, D.C.) and Chapel Hill was at the height of the market.  Today, the sub-prime/mortgage crisis "whisper", is a massive crisis that has even permeated our insulated town: Sales in Orange County are down 36% from March 2007 Listings in Orange County:  784 active listings (March 2007) , 1005 active listings (March 2008)    (+22%) YTD closings 2008: 4719, YTD closings for same time period 2007: 6241 (-25%) NAR came out today and said nationally March numbers are down 2% again with prices down 7.7% from a year ago http://www.nytimes.com/aponline/business/AP-Economy.html?ref=business A majority of economists think we are going into a recession; etc.  As with all things... 04/25/2008

As a buyer or seller you may run into the concept of dual agency. That is basically where an agent “represents” both sides of a real estate transaction. Say my company has a listing. I also have a buyer under a Buyer Agency Agreement. My buyer likes the house I have listed. Uh oh. No problem.  Under Dual Agency I can say to my buyer and seller, “Don’t worry, I’ll represent both of you”. Riiiiight. In a nutshell, I do NOT practice dual agency because I believe in keeping my promises. When I get a listing I promise to represent that seller throughout the entire process, from listing to closing. It would be wrong of me to go back to my seller and tell him I can no longer represent just him because now I have a buyer and can get both sides of the deal. Same with a buyer. Now, dual agency c... 04/21/2008

Carolina Performing Arts, held at UNC's Memorial Auditorium, has just announced its 2008-2009 season.  The series will present 31 programs in 42 performances, its biggest season yet.  Series will be offered in dance, classical recital, classical ensemble, world, jazz and others.  In addition, a number of special performances will fill the season, including the Bolshoi Ballet, Winton Marsalis, Bela Flek, Alvin Ailey and the New York Philharmonic.  Subscriptions to the series will be available May 18th, and tickets to individual performances go on sale July 1.  For more information about the upcoming season, visit www.carolinaperformingarts.com.   04/09/2008

The next neighborhood I picked for some statistics is the Stoneridge/Sedgefield neighborhood. It is located along Whitfield Road about one mile east of 86. It is in the area that is in the Chapel Hill School District, but not in the city limits. So, great schools, but no city tax. (There is a special school tax, but it is worth it!) Most of the homes in this neighborhood were built in the early to mid eighties, with at least an acre of land. The chart shows the number and stats of the active homes in Stoneridge/Sedgefield as well as the houses that have closed in the past six months. These figures are a pretty good indicator of the average price in this neighborhood. You occassionally get houses priced much higher, but those are BIG houses on BIG lots! So, if you want to be close to ev... 03/27/2008

This month I figured I would give you a snapshot of the market for townhomes in the East Chapel Hill High School district. The market consists overall of a great selection of single family homes, townhomes and condos. This chart is a summary of the market conditions for townhomes in the district. It represents the townhouses which closed from 2/24/2008 to 3/24/2008, as well as those active on the market. As you can see there are 34 townhomes shown as active on the Triangle Multiple Listing Service. There were only 4 homes which closed in that same period. This means an absorption rate of 4 homes per month for a 9 month supply. Of course, it would vary depending on the price of the house, but you get the idea. The averages are also impacted by some really expensive townhomes in Meadowmo... 03/24/2008

Silver Creek Neighborhood Update March 21, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Silver Creek neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date Address BR BA Sq Ft Gar Year Built Asking Price Sales Price DOM Active      104  san sophia   4  4 /1  4435  3  1999  $939,000   197  Active      218  Telluride  Trail  6  5 /0  4203  4  2001  $974,900   1  Active      101  San Sophia  Drive  5  5 /0  5001  3  2000  $1,150,000   211  Active      212  Telluride  Trail  7  6 /2  5943  3  2006  $1,250,000   15  Pending  3/10/08 4/11/08 208  Telluride  Trail  4  3 /2  4771  2  1998  $819,900   12  Closed  1/18/08 2/28/08 5007  Sweeten Creek  Road  4  4 /1 ... 03/21/2008

Lake Hogan Farms Neighborhood Update March 21, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Lake Hogan Farms neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team.  Status Pending Date Sold Date Address BR BA Sq Ft Gar Year Built Asking Price Sales Price DOM Active      109  S  Fields  Circle  3  2 /1  1876  2  1996  $325,000   7  Active      142  N  Fields  Circle  4  3 /0  2813  2  2004  $425,000   81  Active      136  N  Fields  Circle  4  3 /1  3011  2  2004  $442,800   8  Active      104  Hogan Glen  Court  4  2 /1  2804  1  1999  $489,500   36  Active      107  Hogan Ridge  Court  4  3 /1  3001  2  2000  $535,000   44  Active      111  Hogan Ridge  Court  5  3 /1  3229  2  2002 ... 03/21/2008

Booker Creek Neighborhood Update March 21, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Booker Creek neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date Address BR BA Sq Ft Gar Year Built Asking Price Sales Price DOM Active      2429  Tilghman  Circle  4  3 /0  2392  0  1973  $349,500   268  Active      2433  Tilghman  Circle  4  3 /0  2526  2  1974  $365,000   105  Active      2461  Foxwood   4  2 /1  2160  0  1976  $370,000   16    Home Search: To set up an automated search for the home of your dreams, click Triangle Home Search and enter your dreams! Your Home’s Value: If you are planning on selling your home, it would be our pleasure to provide a n... 03/21/2008

Covington Place Neighborhood Update March 21, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Covington Place neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date Address BR BA Sq Ft Gar Year Built Asking Price Sales Price DOM Active      107  Carriage  Circle  3  2 /0  1534  2  1991  $253,900   47  Pending  3/6/08 5/15/08 109  Covington  Drive  3  2 /0  1708  2  1990  $260,000   17  Home Search: To set up an automated search for the home of your dreams, click Triangle Home Search and enter your dreams! Your Home’s Value: If you are planning on selling your home, it would be our pleasure to provide a no-obligation valuation of your home.  Click Your Home’s... 03/21/2008

Chandlers Green Neighborhood Update March 21, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Chandlers Green neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date Address BR BA Sq Ft Gar Year Built Asking Price Sales Price DOM

Active      7614  Amesbury  Drive  6  4 /2  4541  2  1988  $819,900   5  Pending  2/15/08 5/30/08 3914  Sweeten Creek  Road  5  3 /1  4465  2  1993  $585,000   7  Closed  2/8/08 3/19/08 103  Toynbee   5  3 /1  3571  2  1991  $575,000 $580,000 23 

  Home Search: To set up an automated search for the home of your dreams, click Triangle Home Search ... 03/21/2008

Meadowmont Neighborhood UpdateMarch 21, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Meadowmont neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team. StatusPendingClosedAddressBRBAHalf BASqFtGarYr BuiltListing PriceSold PriceDOMActive   210  Old Barn Lane 3 3 1 1471 2 1931 $479,000 212 Active   208  Weaver Mine Trail 3 2 1 2026 0 2003 $499,900 64 Active   203  Weaver Mine Trail 3 2 1 1927 2 2003 $500,000 99 Active   201  Park Bluff Drive 5 3 0 2827 2 2007 $587,400 86 Active   207  Weaver Mine Trail 4 2 1 2362 2 2002 $592,000 14 Active   124  Little Branch Trail 4 2 1 2700 2 2004 $627,000 60 Active   102  Faison Road 4 4 1 3516 2 2002 $729,000 176 Active   104  Faison Road 3 2 1 3682 2... 03/21/2008

Parkside Neighborhood UpdateMarch 21, 2008These are the Active, Pending and Closed real estate transactions for Chapel Hill's Parkside neighborhood for 2008.  If you have any questions about any of these homes, please call or email The Rogers Team. StatusPendingClosedAddressBRBAHalf BASq FtGarYear BuiltListing PriceSold PriceDOMActive   603  Palafox Drive 3 2 1 2436 2 2000 $374,900 11 Active   504  Palafox Drive 3 2 1 2323 2 2000 $375,000 39 Active   203  Worsham Drive 4 2 1 3334 2 2003 $429,000 192 Active   104  Maddry  4 2 1 2686 2 2000 $434,900 14 Closed 1/8/20081/22/2008104  New Parkside Drive 4 2 1 2662 2 1999 $389,900$375,00023 Closed 1/30/20082/27/2008430  New Parkside Drive 3 2 1 2724 2 2000 $399,900$395,00027 Home Search: To set up an automated search for the home of your dream... 03/21/2008

Carolina Brewery - Great Place to Watch the Game and Grab a Beer The original Carolina Brewery sits on the famous Franklin Street in Chapel Hill.  Just down the street from UNC Chapel Hill, this local brewery has long been one of the most popular spots in Chapel Hill to watch a UNC game, or hang out with friends after work.     Great Place To Eat in Chapel Hill and Pittsboro And it's not just the college crowd, either.  This brewery has been voted "Best Brewery/Restaurant in the Southeast", and once you try the beer on tap, along with a stack of Brewhouse Ribs, you'll come back again. There's even a seasonal menu, which changes four times a year, and offers things like a Fried Oyster Po Boy sandwich, and Beermisu, a brewery twist on tiramisu made with seasonal porter or stout.       It'... 03/18/2008

Something to think about when it comes time to sell your house is paying to have a professional home inspection done. For around $450, depending on the size of the house, you can have a home inspector come out and give you advance notice of anything wrong with your house. This will give you time to decide what you want to fix AND give you the time to get quotes without having the pressure of a deadline hanging over your head. This is much preferable to having only a few days to find a contractor and get them out to do the work after the buyer asks for an item to be fixed. You can also then market your house as a pre-inspected home. This will give potential buyers more confidence in the condition of your home. Face it. If there is something wrong with your house the buyer’s inspector wi... 03/18/2008

When the time comes to sell your home there is a lot you need to consider. The biggest decision is: who are you going to use to sell your house? Sell it yourself? You can try, but it is not nearly as easy as you might think. You cannot just post a sign in your yard, put an ad in the paper and hope people will flock to your castle. Doesn’t work that way. You simply must get your home in the local Multiple Listing Service (MLS). This is where virtually everyone gets their information. If you are not in the MLS, you are missing out on the vast majority of buyers. Not smart! To get in the MLS you can use a high-priced firm, a “discount” firm, or an entry-only firm. All have their plusses and minuses. You can go with a high-priced national firm. They will tell you they have hundreds of agen... 03/13/2008