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Hurry, Because It is Going Fast!

by TeamForYOUrDreams

There have been so many false predictions of the recovery of the real estate market that every bit of good news is greeted with scepticism.  Oh, yeah, hurry because it is going fast!  As a result, many buyers are sitting there being sceptical while the market takes off and leaves them behind.  Or, they could look at the numbers and react to the reality while there is still time.

Across the nation, we used to have many to many homes for sale compared to the number of properties that were actually purchased.  If the sales continued at the same pace, it would take years to work through the inventory.  Now, ProTech Valuation Services May Home Forecast shows that there is a 6.3 month supply of homes for sale.  That means that if sales continue at the same pace, the current inventory will be sold in 6.3 months.  This is the lowest level since 2006.

All real estate is local.  In Raleigh, Durham, Chapel Hill and the rest of the Triangle, the inventory is down and the number of sales are up.  As a result, the prices are starting to rise.

I enjoy the buyers agents I deal with who try to justify their outrageously low offers for homes in Raleigh, Cary and the Triangle by trying to reference the poor real estate market.  That is about as believeable as trying to convince Mrs. Lincoln that she and Abe had a wonderful time at the play at Ford's theater. 

The market still has some areas that are slower to recover.  However, the numbers show it is starting to change.  So, you should change to keep up with what is happening now. 

Short Sales Should Speed Up with Lawsuit Settlement

by TeamForYOUrDreams

Triangle Short Sales Will Become Shorter

One of the difficulties with short sales in Raleigh, Cary and the rest of the Triangle area is that the buyer of a Raleigh, Cary or other Triangle home has to make an offer then wait and wait for the lender to agree to accept a short payment.  In other words, the thing that is short about a short sale is the payment to the bank not the time for the sale to be reviewed. There is a lawsuit brought by the Attorneys General of most of America's states that is being settled with all the major banks.  The lawsuit was brought because of claimed violations of foreclosure procedures by these banks.  One fortunate sidelight of the settlement of this lawsuit that was mainly brought to correct the sale of bank owned properties (REOs) is a requirement that will make short sales faster for sellers in Wake Forest, Holly Springs and the rest of the Triangle area.  The faster the approval, the more buyers will see the process though to completion and there will be an increase in the number of short sales that close.

The following is a quote of the article in Realtor Magazine that picked up a feed from Real Estate Daily News

 " As part of a settlement with state attorneys general, the five largest mortgage servicers are adopting new requirements for short sales, which is expected to speed-up what has been known as a lengthy process.

Here are some of the new requirements for servicers under the settlement: 

  • Servicers must provide borrowers with a decision within 30 days after receiving a short sale package request. 
  • Servicers will be required to notify a borrower, also within 30 days, if any necessary documents are missing to process the short sale request. 
  • Servicers must notify a borrower immediately if a deficiency payment is needed to approve the short sale. They also must provide an estimated amount for the deficiency payment needed for the short sale. 
  • Servicers are also required to form an internal group to review all short sale requests. 
  • Banks will be considered in violation of the settlement requirements if they take longer than 30 days on more than 10 percent of the short sale requests. Violations can carry fines of up to $1 million and $5 million for repeat offenses." 

This report is good news. The biggest problem with short sale's loss mitigation departments is that the departments are understaffed, so the overworked employees have a hard time handling their big case load.  With penalties of $1 million to $5 million, these banks should greatly increase their staffing to spend the money on negotiators who will get more accomplished for their firm instead of paying penalties. Since a lender makes between 20% and 30% more from a short sale than a sale of the same property after foreclosure, this increase in the loss mitigation department will be a huge benefit the lenders because there will be more short sales and less foreclosures.  Meanwhile, it will benefit sellers in Chapel Hill, Durham and the rest of the Triangle area who will get faster approvals, buyers who will get new homes more quickly and Realtors who will have a shorter processing time and an increase in closings. 

This sounds great to me.  What do you think?

SuperShuttle comes to RDU

by
     Beginning January 3, 2009 SuperShuttle will launch shared ride van service throughout the Triangle area, offering another ground transportation option for Raleigh-Durham International Airport customers. The service will be provided to destinations within a 30 mile radius of the airport.
     SuperShuttle is a nationally recognized ground transportation provider that uses a sophisticated reservation and route-mapping software system to provide shared ride van service. Customers may make reservations online, by phone or at one of three ticket counters in the terminals.
     Vans will operate from the Prearranged Service zones outside each terminal. Drivers are franchise owners in an arrangement similar to RDU Taxi, Inc. The service will operate from the early morning hours to last flight. Customers are not expected to wait longer than 25 minutes before departing the airport.
Initially, SuperShuttle is marketing its services to major hotels and destinations throughout the region. It will also pick-up and drop-off from events centers, hospitals, universities and private homes.
     For more information on SuperShuttle, visit www.supershuttle.com.
    

Submitted by Lisabeth Tunell

Triangle tourists and business travelers will gain a new connection to Europe and beyond next June (2nd) when Delta Air Lines launches nonstop service from Raleigh-Durham International Airport to Paris.

Delta will fly between RDU and Paris' Charles de Gaulle Airport with connecting flights t 169 airports around the world. "From de Gaulle, you can go anywhere in the world, especially the Mideast and Europe and south Asia," said John Lewis, president of Raleigh-based Travel Management Partners. Delta has already moved its domestic flights from Terminal 1 into RDU's new Terminal 2, which began operation last month. Delta is the second airline in a week to announce a Paris flight from North Carolina. US Airways plans a nonstop between Charlotte and de Gaulle, starting next spring and will operate daily from April through October. Delta, RDU's third busiest carrier after Southeast and American saw and increase in air travel here and abroad and was holding steady through the first nine months of the year.

RDU once had a flight to Paris (Orly) back in 1988 that was an unprofitable adventure for American Airlines and they stopped flying that route in 1994. Bob Cortelyou, a Delta senior-vice president said Delta expects its Paris flight to be more profitable because it will use a small jet (Boeing 757-200), carrying only 174 passengers, and will serve the busier Pairs hub, de Gaulle."This is a way to start the market, and then if we have some great success, we can look at a bigger aircraft," he said. 

Facts:

Departs RDU daily (except Monday and Thursday) at 6:20 p.m. and arrives in Paris at  CDG 8:35 a.m. the next day.

Departs CDG daily (except Wednesday and Saturday) at 10:30 a.m. and arrives RDU 2:15 p.m.

With connections via CDG to 16 airports: 109 in Europe, 28 Africa, 10 in the Mideast, 20 in the Far East and two in Polynesia.

Falls Lake

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Falls Lake is located in the upper portion of the Neuse River Basin, extending for 28 miles from Falls Dam just north of Raleigh to the confluence of the Eno, Flat, and Little Rivers near Durham. Prior to 1978, flooding of the Neuse River caused extensive damage to public and private properties within the Neuse River Basin. But the US Army Corps of Engineers forged ahead with a plan to control the flood waters, completing the dam in 1981. Today the man-made reservoir is comprised of a 12,000 acre lake surrounded by 26,000 acres of woodlands. In addition to providing the water supply for Raleigh and several surrounding towns, the lake also provides ample recreation and wildlife enhancement for the Neuse River Basin.

Falls Dam is constructed of earth and rockfill, and has a side channel uncontrolled spillway. It utilizes a multilevel intake structure and oblong-shaped conduit to discharge water. It has a top elevation of 291.5 feet (msl) and an overall length of 1,915 feet, and its height above the streambed is 92.5 feet. At its normal level, the lake holds about 43 billion gallons. If storm conditions prevail, the lake will discharge water through the spillway when the lake reaches about 115 billion gallons.

But most people are interested mainly in the recreational aspect of the lake. You can learn about this and more by visiting... www.ncparks.gov/Visit/parks/fala/main.php.

Anthony Williams

Duke Gardens

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Sarah P. Duke Gardens is a 55 acre tract located in the heart of Duke University’s West Campus, adjacent to the Medical Center. Often spoke of as the “Crown Jewel of Duke University,” it is recognized as one of the premier public gardens in the United States. The Gardens are open daily from 8:00 AM until dusk but for holidays, and attendance is free. It’s no wonder that each year over 300,000 visitors stroll among the gardens to enjoy the stunning landscape design and horticulture, and take in the many special events that occur there.

The Gardens consists of four major parts — the original Terraces and their immediate surroundings, the H. L. Blomquist Garden of Native Plants, and the William L. Culberson Asiatic Arboretum, and the Doris Duke Center Gardens. The Blomquist Garden showcases flora of the southeastern United States, while the Arboretum is devoted to plants of eastern Asia. The parts are connected by nearly five miles of pathways.

Enjoy the Gardens as a living museum rather than a park or playground. Take time out to reestablish a connection between man and plants. Or catch a summer performance of music rooted in blues, gospel, classical, or bluegrass. Any way you look at it, Duke Gardens is well worth a day trip to Durham.

Anthony Williams

Leopard Spots

by
Friday, October 26, was a day highly anticipated by Macintosh users everywhere. At 6:00 PM, Apple unveiled the latest version of its operating system, Mac OS X 10.5 Leopard. Two and a half years in the making, Leopard is packed with over 300 new features offering something for everyone — users and developers alike. This Leopard is spot on. Some primary selling points are...

The interface has been spit polished. The desktop sports a translucent menu bar and reflective 3D Dock to perfectly frame one’s desktop picture. Stacks enable quick access to a folder of files. Finder windows have been unified so there is now only one window look having an elegant gray band at top with optional tool bar below. Spaces group application windows to banish clutter completely.

The Finder has been totally revamped. Now browsing files on a Mac can be much like browsing in iTunes — access everything on a Mac by using Cover Flow or by clicking on items in the sidebar. Never has it been so easy to work with documents and media files. Spotlight is beefed up. It works much faster now, and offers boolean searching.

Time Machine automatically backs up everything on a Mac, transparently in the background. It keeps a copy of every file ever made. Now a Mac can be restored back to its original state from any point in time. Or just restore a single file. Quick Look provides a sneak peak to a file without opening it, even when searching for files in Time Machine.

Front Row works like an Apple TV to control digital media on a Mac using a remote. DVD Player sports a new full-screen interface. Video quality is enhanced, and can smoothly play back DVDs that may be damaged.

Mail transforms email into personalized stationery. Notes offer access from anywhere. A dictionary and grammar check is built in, providing services system wide. iChat uses an advanced audio codec to deliver the clearest possible sound during audio chats. And text messaging has been streamlined.

Safari is the fastest web browser today. It features movable tabs and resizable text fields. Parental controls makes it easy to set limits on how one can work with a Mac. And security is ironclad — application signing, sandboxing, and library randomization fortify a Mac using the latest security techniques.

Boot camp turns an Intel based Mac into a PC such that one can run Windows at native speed. Now it’s possible to boot in either Mac OS X, Windows XP, Windows Vista, or many flavors of *nix. Never has a personal computer been so flexible.

Developers have never had it so good. DTrace can monitor system activity from a high-level application behavior down to the operating system kernel. Xcode compiles much faster and supports real-time debugging. And Objective-C has been enhanced with automatic garbage collection. Interface Builder is completely rewritten and makes it a breeze to construct a user interface for an application.

Leopard is now a fully certified UNIX operating system, thus can be deployed in environments that demand full UNIX conformance. Fully 64 bit, it also runs 32 bit code transparently without user intervention. Ruby, Ruby on Rails, and Python are built in. And AppleScript has been polished.

These are but a few of the features that make Mac OS X Leopard the finest personal computing operating system made today. Learn more about Leopard by visiting the Apple website (www.apple.com), and by reading the review by Jon Stokes at Ars Technica (www.arstechnica.com). Then head out for your local Apple Store at Crabtree Valley Mall in Raleigh or The Steets at Southpoint in Durham. There you can test drive the latest goodness from Apple. Just know that once you go Mac, you’ll never go back.

Anthony Williams

Parking at Raleigh Durham International Airport

by Team for YOUr Dreams

Submitted by Judy Burrell:  When flying out of Raleigh Durham Airport (RDU), you may have to deal with parking.  The Airport Authority had built an extensive amount of parking right at the airport, that is great for short trips as it is right at the terminal.  The Airport Authority also has lots of parking at remote lots.  However, a good option for airport parking is at Preflight Parking.

Preflight Parking is located at 9600 Lumley Road in Raleigh.  As you enter the secure parking lot, the attendant tells you in which row to park your car.  In a couple of minutes the small Preflight bus comes by and picks you and your bags up right at your car.  Yes, they even load your suitcases into the bus for you.  Then they deliver you to the curb at your airline’s terminal, and unload your bags for you.  When you return from your trip, the bus picks you up and takes you back to their secure parking lot and drops you off right at your car.  Again, they will carry your suitcases for you.  This is especially convenient if you are a woman traveling alone, as I have been on several occasions. 

 

Another convenience is you can arrange for Preflight to do certain maintenance items on your car while you are one your trip.  They will do safety inspections, tune ups, car washes and other things.  If you have a safety inspection due for your car registration, this is particularly convenient.  Also, they will put your car at the front of the parking area, and drop you off first, if you have work done.   

 

The cost of the remote Park and Ride lots at RDU is currently $6 per day and if you park in the big parking structure between the two terminals, the cost will be $10 per day.  However, if you print out the Preflight coupon at www.prelight.com, the cost of parking at their secure lot where they pick up and deliver you directly to your car is only $6.25 per day or $41 per week.  What a deal!!

 

Here’s a tip.  You can make a reservation for your car so that you can be assured the lot will not be full when you arrive.  This is especially important during busy holiday times, as they will turn you away if the lot is full and you do not have a reservation.  You can also join a Frequent Parker's program that will let you park there even if the lot is full.

 

Preflight’s phone number is 919-782-6230, and for more information click here

Displaying blog entries 1-8 of 8

Contact Information

Photo of Team For Your Dreams, Inc. Real Estate
Team For Your Dreams, Inc.
REMAX United
7721 Six Forks Road, Suite 110, Raleigh, NC 27615
Raleigh NC 27615
919-846-3272
919-812-5111
Fax: 310-347-4041