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3 Ways Schools Affect Home Prices Here in the Triangle

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FFR- Oct 6 Pic-10060061 pic 1 10-14The Triangle area is a hotbed for education here in North Carolina. With top-ranked public and private institutions, teaching hospitals, and world-class research centers, there’s no better place to live if education is a priority in a move or relocation. It’s not just post-secondary schools that get top billing in the Triangle; the local school districts are highly rated as well. Consider that four of the top 10 public high schools in North Carolina are in the Wake County School System, according to US News and World Report rankings.

How much do schools affect home prices? Let’s take a look at these statistics researched by Flat Fee Realty:

  • In a recent survey by Realtor.com, 91% of prospective homebuyers said that school district boundaries were an important part of their home search. 
  • That same survey found that over half of buyers are willing to boost their budgets for top quality schools, paying 6-30% more for a home within the boundaries of their desired school. 
  • Another recent study found that homes in areas with the best schools command about $50.00 more per square foot than homes in average districts.

Based on this information, buyers and sellers are correct in thinking that being in the right district can give their sales price or budgets a bump. But what is the “right” district? While a client’s first instinct might be to simply ask their real estate agent, they might not get the information they’re looking for. Many agents deflect questions about school quality to avoid ending up on the wrong side of the Fair Housing Act (this could be construed as steering). Instead, they point buyers and sellers to independent resources such as these:

  • For public schools, visit the National Center for Education Statistics, or the official site for NC Public Schools. 
  • For public, private, and independent schools, org has a lot of information. It also includes consumer reviews.

When buying or selling a home, everyone knows that location is paramount. And a significant part of this is the local school quality, even for buyers and sellers who do not have children.

Need help assessing the market value of your home? Give us a call! 

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only. 

The Future of Real Estate! 

Flat Fee Realty 

919 342 5230

Contact Us

Terry@FlatFeeNC.com

Photo: ddpavumba, Freedigitalphotos.net

 

 

 

 

 

3 Must-Use Apps for Triangle Home Buyers and Sellers

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FFR-100266681-freedigitalphotosAccording to the 2013 National Association of Realtors® Profile of Home Buyers and Sellers, 92% of respondents used the Internet to support the buying and selling process. Over 90% of those individuals also retained the important services of a real estate agent. Real estate agents provide an irreplaceable and invaluable service, but even the best agent simply can’t be with each buyer or seller 24/7.

Flat Fee Realty wants buyers and sellers to be confident in every decision they make.

When researching the North Carolina real estate market, try one of the following three apps guaranteed to enhance your buying or selling experience:

  • Check out any house, anytime, anywhere: Useful for both buyers and sellers, Homesnap (for Apple and Android) lets users take a photo of any home and get basic details about the property. It also estimates a range for which the property will most likely sell, suggests similar listings, and shows recent nearby sales. For potential investors, Homesnap even scores the property on its potential to produce cash flow.
  • Get the latest information on any neighborhood: AroundMe lets users (of both Apple and Android devices) in on many neighborhood features that they wouldn’t typically find in an MLS listing. It searches for amenities of all kinds like parks, hospitals, coffee shops, banks, movie theaters, and more. Buyers can use the app to find out if an unfamiliar neighborhood might meet their needs, while sellers can boost the desirability of their listing by drawing attention to local businesses and amenities.
  • Brush up on your real estate vocabulary: If a seller chooses our Flat Fee Marketing Plan (as opposed to our full-service listing package), they’ll be shouldering some of the listing responsibility themselves. Download the Dictionary of Real Estate Terms to stay in the know and level the playing field with experienced buyers and agents. This particular app is for Apple devices only, but similar versions exist for Android.

The Internet can be a great resource for buyers and sellers to stay connected to their local real estate market. However, the sheer amount of data available can trigger an information overload, adding uncertainty to a process that already has its share of confusion. Have questions about buying or selling? Give Flat Fee Realty a call and let us help you get started.

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Contact Us

Terry@FlatFeeNC.com

Photo: Stuart Miles, freedigitalphotos.net

 

 

4 Facts to Consider Before Selling a Home in the Triangle “By Owner”

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scott chan fdpAll home sellers across Raleigh and the Triangle want to receive top dollar for their homes and sell them as quickly as possible. Only a small percentage of home owners decide to take the adventurous route and attempt to sell a house themselves. Is For Sale by Owner (FSBO) a good idea?

Here are four important facts that Flat Fee Realty believes Triangle home sellers should consider before taking the plunge and putting up that sign:

  • FSBO listings are a significant source of sales leads for agents: Home owners should expect to be contacted regularly with sales pitches. Many agents will provide FSBO’s with free market analyses and sales comps in the hopes that if or when selling by owner becomes tiresome, the seller will be calling them. In the meantime, take advantage of all the free tools and figure out which agents are honest and forthright, and who will work for you.
  • Selling as a FSBO is not free: Most FSBO’s decide to sell using this method to avoid paying a huge commission that can run up to seven percent of the home’s sale price. While that’s definitely an incentive to consider, selling as a FSBO isn’t completely cost-free. Homeowners must pay out of pocket for promotional signage, advertising, flyers, newspaper ads, websites, rack cards, and more. Many FSBO’s opt to offer an incentive or commission as well (usually around 2.5%) to the buyer’s agents to ensure their home gets shown.
  • Listing a home is almost a second job: It’s a big mistake to think that once a “for sale” sign is planted in the front yard, it’s time to sit back and wait for buyers to come knocking on the door. Selling a home requires a significant marketing push, receiving calls at odd hours, answering inquiries, making appointments, showing the home during the day or early evening, and hosting open houses every weekend.
  • The devil is in the details: Chances are that an agent will represent the prospective buyer. Experienced or not, it’s likely that the agent will be aware and ready to negotiate around subtle but key aspects of the sales contract. Consulting with a real estate attorney can keep FSBO’s competitive; but again, expect to pay high legal fees for the service.

Owners will often forego the expertise of a traditional real estate agent in hopes of saving money. There’s nothing wrong with that if a seller is willing to put in the time, effort, patience, and consistency to be successful.

Consider the above information we have presented as a public service and know that Flat Fee Realty truly is the best answer for a cost effective and smooth sale. Consider the enormous advantages of our marketing package.

Give us a call today to find out how Flat Fee Realty can partner with home owners who believe in value for both the move and the successful sale in the Triangle.

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This post on selling a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended as a service for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Contact Us

Terry@FlatFeeNC.com

Photo: Scott Chan, freedigitalphotos.net

 

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