Mortgage Rates 7/28/06

Mortgage Rates

 
Loan Types  Rates Points 
30-yr fixed 6.1%  0.16 
15-yr fixed 5.93% 0.19 
5-yr ARM    5.78% 0.18 

Updated 7/28/2006

Rates are still too good to pass up. Let me help you upgrade to a new home today.

The Key to Good Tenant Relations

It is important to attract and keep great tenants when you own investment property. A good way to begin a positive tenant/landlord relationship is with clear communication about what you expect from your tenants and what they can expect from you.

The written lease agreement spells out the legal obligations of each party. The landlord must ensure that the property is habitable and complies with local codes, and the tenant must pay the rent in a timely manner and not damage the property. Make sure that the terms of the agreement are stated clearly in straightforward language.

Let the tenants know of your commitment to keep the property in good repair and of your desire to know about maintenance problems before they become serious. When it's time for the tenants to move, offer to provide a reference letter if they need one. This is a nice way to say "thank you" to them for having maintained the property during the terms of their lease. Good communication can help you to maintain the quality of your investment.

For help in finding that perfect rental property to buy call me today at 919-303-3588.

Home Sales in Your Neighborhood

Homes that have sold in your neighborhood in the last 30 days!

Neighborhood Sales
    Address        Sq Ft   Asking   Sold   DOM*
                           Price    Price
3023 Silky Dogwood  1300  132,000  132,000   5
3023 White Cloud Cr 1480  140,000  139,000  47
1201 Albritton Pl   2150  259,900  258,900  44
1213 Tartarian Tr   2500  279,900  279,900  47
1223 Tartarian Tr   2515  284,900  284,900  71
1225 Tartarian Tr   2668  316,500  316,500   9
*Days On Market
Updated 7/20/2006 

Call Anne Cain today for a free home market analysis.

919-303-3588
800-589-4519

Comparables

To take much of the guesswork out of your consideration about whether a particular property is a good investment, you can check on the actual selling price of similar homes in the neighborhood.Some sales information, such as the selling price, the financing terms, and the transaction dates, is public information. Your real estate agent will have record of all recent sales. You can find out how properties have been appreciating, based on actual sales, rather than from the neighbors (they could be wrong!). Driving by comparable homes can give you an idea about how they compare with the property you are considering. Your real estate agent may have seen these homes and can give you additional information to help you make a decision.

Competitive Pricing

You have seen it all over the years--interest rates rise and fall, sales prices escalate and decline. No matter what phase the market is in, it is always important to price your home in your area competitively. How can you price your home with confidence?The first step is to contact a professional real estate agent for a comparative market analysis. The agent will look at recent sales of comparable homes in your area and give you information about other properties that are currently on the market. By comparing the size, location and condition of your home to the competition, your agent can help you determine how much to ask for your home. Even in an active market, an inflated price may frighten prospective buyers away. A house that is over-priced can take additional weeks or months to sell, and the final sale price may even be lower than if the sellers had started out more realistically. The price is based on market conditions, comparable sales, and our years of experience in the marketplace.

Apex Fourth of July Celebration!

Town of Apex celebrates "Old Fashion" 4th of July on Tuesday from 9:00 a.m. to 1:00 p.m. Uncle Sam's Parade of Wheels at noon on Salem Street, then cool down with Apex Fire Department's Splash Down. For more information contact the Apex Parks, Recreation and Cultural Resources Department at 249-3402.