Week 2 - Go Reality Show

Facebook Challenge

This past week we had to have our Facebook peeps write real estate related questions on our wall and then we had to answer the questions by the end of the week. My Facebook peeps did not disappoint and you all asked really good questions. Below is the list of questions and my responses to them.

Does Go Reality have an office in Atlanta? If so, do realtors from NC train/visit in Atlanta? Go    Realty

Thanks Kellie for the question. We do not have a Go office in Atlanta, but since we have 3 locations in the Triangle, we are well equipped to help you or anyone else that moves to the Triangle. I would love to be able to call you my cousin and neighbor....just sayin!

What percentage for a down payment is required for purchasing a new home ? Go RealtyThe short answer is it depends on your situation and what type of loan you are looking at getting. The link below explains in more details. Thanks for asking.
http://homeguides.sfgate.com/average-down-payment-house-7372.html

Is it a better investment to buy a new home or an existing home? Go Realty
Great question, thanks for asking. It really depends on each individuals situation and what is most important to them. For instance, an older home may appeal to a DIYer that loves to remodel where a new home is attractive to someone who does not want to mess with the upgrades. For more information, check out the link below.
http://www.homeinsight.com/details.asp?url_id=15&WT.cg_n=Publications&WT.cg_s=0&GCID=bhph1

Stacy...does your office practice Dual Agency? Go Realty
Yes, we do Dual Agency, but we leave it up to the client to decide what they are comfortable with. Thanks for asking.

When selling a home what updates are people looking for? Go Realty
Hi Steph....thanks for the great question. Kitchens & master baths are what will sell a home. So if you are thinking of making any changes, I would suggest you start in those two rooms.

What is the average time frame when buying a home that is a short sale? Go Realty
Hi Beth....thanks for asking. There seems to be some different factors that can slow or speed up a short sale. For example, the type of loan one has or if th

ey have more than one loan can determine how long the process will take. For more information, click on the link below.

http://homebuying.about.com/od/shortsale/f/What-Is-An-Average-Timeline-For-A-Short-Sale.htm

Why are interest rates different for land, residential & rental properties? Go Realty
Great question Lisa! It is all about risk, rental properties have a higher default rate than residential. My guess is the same is true for land. Thanks for asking.

What are some things to watch out for when buying foreclosed properties? Go Realty
Distressed properties, encumbrances like liens and judgments are just a few things. The article below explains in more detail. Thanks for asking, great question!
http://www.ehow.com/way_5908462_look-out-buying-foreclosure-property.html

Does it necessarily make sense for me to use my GI Bill to get a loan vs just shopping various other options? Go Realty
Thank you Paul for such a great question. I believe it is always wise to shop all options in order to make the best decision for you and your situation.

How will the 540 extension affect real estate in the southern part of Wake County? Go Realty
Excellent question.....there seems to be many obstacles in getting 540 built through the southern part of Wake County. Each new suggested route se

ems to have more hurdles than the original plan which threatens too many neighborhoods, a church & an industrial park. The alternative plan has federal obstacles dealing with wetlands and endangered mussles. For more details, click on the link below. Thanks for the question!

http://www.newsobserver.com/2012/08/21/2283587/more-colors-fill-map-of-possible.html

Stacy when selling my home, how should it be staged, as is or put certain things away? Go Realty
The reason you want to make your home "anonymous" is because you want buyers to view it as their potential home. When a potential home buyer se

es your family photos hanging on the wall, it puts your own brand on the home and momentarily shatters their illusions about living in the house themselves. For more information, click on the link below. Thanks for such a great question. Hope this means you are not planning on leaving the neighborhood anytime soon:)

http://www.realestateabc.com/homeselling/getready2.htm

What questions should I ask when interviewing a listing agent? Go Realty

Thank you for the great question. Here are a few questions you will want to ask... 1. What is Your Average List-Price-to-Sales-Price Ratio? 2. What is Your Best Marketing Plan or Strategy for My Needs? 3. What Are the Top Three Things That Separate You From Your Competition? 

With Cary, Apex, and Holly Springs being developed, what is the next 'up and coming' area? Go Realty

Great question. Holly Springs is just getting going and it looks like it will be amazing.....stay tuned.

So... when are you selling your first house? ;-) Go Realty

You will be the first to know when I do....Thanks for the question!

How does the triangle market compare to the west palm beach market? Go RealtyThanks for the question and here is the answer... Florida overall is leading the country in foreclosures, however Palm Beach county's foreclosure rate was down by 23%. In the Triangle, home sales are up 26% from last year at this time and the foreclosure/short sell market has not been anywhere close to that of West Palm Beach.

How do I find a a great agent? Go Realty
Call your sister.....I got your back! Love you....xoxo

Hello lady! Just wondering if curb appeal really makes a difference when selling a home? Go Realty
Thanks for the question and the short answer is....YES! That is the first impression people will have when pulling up to a house on the mark

et. Many will not even get out of the car to see the inside. To read more about preparing a home for the market, click on the link below....

http://www.davesellsdurham.com/p/sell-this-house.html

Stacy, what does "due diligence" mean? — Go Realty
Great question, thanks for asking....
As the buyer, you are entitled to know everything about the property you are buying. The law requires much of what you want to know, but laws vary by

 state. If you are borrowing money, the lender will have their own requirement--starting with an appraisal. They will not loan money for a property that isn't worth the price. A very short list of required inspections includes termites, roof damage and building code violations, a properly titled deed and liens. That is only the beginning.

Read more: Due Diligence Period Defined in a Real Estate Contract | eHow.com http://www.ehow.com/about_6742649_due-defined-real-estate-contract.html#ixzz294fsGZEv

Stacy, regarding financing, what is the ACID test?? Go Realty
Joanne Everts the answer to your question is......
The Acid-test or quick ratio or liquid ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately.

Thank you all for your support and encouragement the last two weeks. I cannot begin to tell you how appreciative I am! XOXO