In glomming on to positive news don’t forget to remember your basic math. Median prices have been going up in some areas, down in others. The median is the value that occurs in the middle of everything that has sold. For example, if seven apples have sold for $1, $1.25, $1.5, $1.5, $1.5, $1.75 and $2. The median price would be $1.5. The median value is the middle price, it does not represent the size, quality or type of apple.

In real estate it is important to remember that the median sales price represents the average price of what homes are selling for in a given area. It is not representing the size, condition or value of a home. The median sales price can be offset by foreclosure property that is selling in an area as well as by luxury property that is selling in an area.

The best way to determine the value of your real estate is to get it analyzed by and experienced real estate professional. There are many factors in determining real estate values today and picking an average out of the air could hinder the sale of your home. In today’s real estate market it is more important than ever to price your home appropriately. Call Phyllis Wolborsky & The Wolborsky today to take advantage of 41 plus years of experience in pricing a home to sale in the Raleigh, Cary & Wake Forest, North Carolina real estate market. View properties that are listed by Phyllis Wolborsky at http://www.PhyllisDidItAgain.com/myhomes.asp .It would be my pleasure to visit your home and give you a market analysis. Call me today and get your home SOLD.

The $8,000 home buyer’s tax credit has been extended to Raleigh, North Carolina homes that enter into  binding contracts before April 30 and closed no later than June 30, 2010.

This tax credit is offered to first-time homebuyers AND qualifying long-term homeowners.  Therefore if this is the first home you have ever owned you qualify but if you have lived in your home for at least five out of the last eight years you also qualify. This means that “empty nesters” can sell their larger homes once the children have moved out and purchase a smaller residence and qualify for the tax credit.

Keep in mind that only homes under $800,000. qualify and the homebuyer must be at least 18 years of age.

If you would like more information about this tax credit and to find out if you qualify for it, please contact Phyllis Wolborsky & The Wolborsky Team.

Use our Featured Property Search to find homes in Raleigh, North Carolina.

Allen Tate Company has an exclusive agreement with Mortgage Debt Services, (MDS).  MDS is a mortgage-debt negotiating firm that is there to assist homeowners who are listed with Allen Tate who are at risk of losing their homes or need to sell their home. They may be current with their payments, but are “upside down” with their mortgage(s) and do not have the available cash to bring to a closing.

MDS has helped many homeowners stop their foreclosure process and has assisted them towards a short sale on their property.  Knowing how lenders think is paramount in getting a successful revision approved and reaching terms that are acceptable to all parties concerned.

This program is an optional service we are offering to our agents at a 15% referral fee which is calculated “off the top” with the company participating.

What will MDS do for our Agents:

-                      Counsel the seller as to what options are available given their specific situation.

-                      Assist in the determination of the seller being a short sale candidate.

-                      Identify the appropriate person at the “lending” or “service provider” holding the mortgage.

-                      Work with that person throughout the short sale process.

-                      Address the myriad of issues that needed to be resolved in order to bring the short sale process to a successful closing.

Requirements to get started:

-                      In order for the process to start, there must be a listing agreement between Allen Tate and the seller.

-                      Introduce MDS services to the homeowner and obtain their permission for MDS to contact them.

o   This should be done as soon as you are aware that a short sale is a potential. The sooner the better.

o   Do not wait for an offer.  Introduce this service at the time of listing if possible.

-                      Insure that all listing sheets state that the sale is “subject to third party review”.

-                      Call the Relocation Department to review the process and initiate your client into the Short Sale Program. 

-                      There is additional paperwork from both the client and from the Listing Agent, so be prepared to assist in this process.

Short Sale Assistance Program

 Once the Agent identifies that one of their listing clients has a short sale potential should their home sell for the anticipated market value as determined by the list price vs. mortgage payoff information as provided by the seller, the agent is to contact the Relocation Department.

The purpose of MDS involvement is as follows:

-                  Counsel our seller as to what options are available given their specific situation.

-                  Assist in determining if the client is a short sale candidate.

-                  Act as an intermediary between the seller and “the lender” throughout the short sale process

-                  Identify the appropriate person to speak with at “the lender”.

-                  Document every conversation with the lender for future reference.

-                  Identify and address all issues that need to be resolved in order to bring the property to closing. This would include but would not be limited to:

o   Back taxes

o   Any unpaid liens on the property

o   Service fees for both the realtor and MDS

-                  Coordinate the closing between all concerned parties.

If you are a first time home buyer shopping for a home in Raleigh, North Carolina ask your real estate agent about the $8,000 tax credit that expires in November.

Keep in mind that this is for first time homebuyers (someone who has not owned a home for the past three years).  You may be entitled to a tax credit of up to $8000 which can be used on your 2009 tax return.  The tax credit is a true credit and if not needed then you are sent the money.  The credit is for 10% of the purchase price up to $8000.  There are stipulations to the tax credit  program so please talk with your agent to see if you qualify.

·  The tax credit applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.

·  It also only applies to a home that is the taxpayer’s principal residence.

·  Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.

·

Please contact Phyllis Wolborsky and the Wolborsky Group to get more information about this tax credit .

Located in northern Wake County, The Barony offers 80 acres of 1-4 acre estate homesites.  Lakefront sites are also available on the lovely 12-acre lake found in this premier community.

Drive through the elegant gated entrance and you will find quiet, private roads, a 20-acre natural protective buffer, and an active HOA and protective covenants.

This is estate living at its finest. Residents enjoy a beautiful wooded setting to be enjoyed by only 29 families.  Each home is custom built and boasts a unique individuality. Homeowners can also enjoy canoeing, fishing, paddleboating, walking and biking.

Homes in The Barony are priced from one million dollars.

Use Phyllis’ Property Search to find luxury real estate in Wake County, North Carolina.

Are you a seller trying to make your Raleigh, North Carolina home as attractive to buyers as possible?  Here is a wonderful new program aimed at interesting new buyers. The Job Loss Protection Plan* will pay the mortgage for the buyer for up to six months if they lose their job within two years after closing.  The protection plan will cover up to $1800.00 per month.

The seller pays $500.00 at the time of closing to guarantee the program.  This is a wonderful incentive that encourages interest and brings buyers to showings.

This innovative program is offered exclusively through Allen Tate Company listings and participating sellers.

If the buyer is not interested in the job loss protection or does not qualify (must work at least 30 hours, not be self-employed, or active military and must be eligible for state unemployment benefits.)then there is no cost to the seller.

Talk to Phyllis about Raleigh properties with the Job loss Protection plan.

The reality-style television series “House Hunters” highlights the emotional rollercoaster of finding and purchasing a new home. It takes viewers behind the scenes as individuals, couples and families learn what to look for when buying a home and decide whether or not a home is meant for them.

This exciting real estate reality show will feature Raleigh, North Carolina real estate professional Phyllis Wolborsky with the Allen Tate Company, as she negotiates the home buying process with her client Donna Callahan.  Drawing on more than 40 years of experience, Phyllis helps her client find the perfect home with her negotiating skills and extensive knowledge of the Raleigh, North Carolina real estate market.

This exciting HGTV-House Hunters episode will air on Thursday, May 14 at 9pm and is brought to you by Pie Town Productions and Home & garden Tour. Don’t forget to tune in for all the action!

Let Phyllis help you to find your perfect Raleigh, North Carolina home.

Welcome to The Landing at Southpoint, the greenest condo community to be found in the Research Triangle Park. With 54 luxury condos The Landing at Southpoint offers the best in luxury living while being environmentally friendly and centrally located. This community is an urban oasis.

The Landing is the first community in North Carolina to strive for the distinguished “LEED for Homes” certification. This sustainable development insures a healthy environment,substantial savings on energy costs, and Energy-Star certified appliances.

Residents of The Landing can take advantage of luxurious amenities such as swimming pool,outdoor lounge area, large fitness center and an elegant clubhouse. You can also enjoy maintenance-free living and the sophistication and convenience of condo living. Each flat offers the finest features such as granite countertops, stainless steel appliances and spacious floorplans.

Use our Property Search to find luxury real estate in Raleigh, North Carolina

The Raleigh community of Carlyle was create in 2000 and is the perfect place to build or buy the estate home of your dreams.  Caryle boasts 96 homes on big beautiful wooded lots ranging from  one to more than two and a half acres in size. The community is located right next to the Fall lake corps of engineers which has a swimming pool, swimming club and  tennis courts available to Caryle residents.

The community enjoys a very active HOA which insures that the neighborhood always looks beautifully manicured with its professional landscape maintenance.  There is also a clubhouse for the enjoyment of Carlye residents.

Families with children will be happy to know that their children can attend Brassfield Elementary, Wakefield Middle or Milbrook High School.

Use our Free Featured Properties Search to find the best real estate in Raleigh, North Carolina.

Bishop’s Grant is located in Wake Forest off the east Highway 98 Bypass, in an area known for lovely residential devlopments.  It consists of 172 homesites each averaging about 1/4 of an ace in size.  An additional 48 townhomes will also be built in the future.

The community will feature a planned pool and bathhouse it will also have green space, park areas and perimeter conservation buffers.

It is also very close to great shopping areas including the triangle Town Center, North Hills and Crabtree Valley Mall.

The community is served by the Wake County public school system. It has electric, water and sewer, natural gas cable television, phone and Internet already installed and available. There is an active HOA to keep the community maintained and in quality condition, Hoa dues are approximately $60 a month.

Prices start in the $300s at Bishop’s Grant

Use our Featured Properties to find more homes in Wake Forest North Carolina