Wednesday, September 25, is One-Hit Wonder Day. Having spent the first half of my professional career as a disc jockey in various cities, I’m no stranger to “one-hit wonders.” During my DJ era, I would “spin discs” (as we said back in the day) by one-hit artists like Soft Cell (a former “Gongaware Pick-to-Click”), Norman Greenbaum, and ? and the Mysterians. (I always thought ? was singin’ “you’re gonna cry for 96 years.” Who could count exactly 96 “tears,” I reasoned.) Due to my inability to relate to “adults” throughout much of my radio career, I was spared having to play Debby Boone or C.W. McCall.
Of course, “one-hit wonders” exist in fields other than music. For example, there’s Jeremy Lin, the Hummer, Silly Bandz, and, of course, the Zestimate. The Zestimate is a cleverly named web application meant to provide an estimate of a home’s value. It was created by a media company called Zillow, a property listing “syndicator”…a word disturbingly close to “syndicate.” Their name came about by the company’s desire to meld “zillions” of raw data points (mostly from county tax records) with “pillow.” Really? (I think instead they should have combined “zillion” with “Toro,” the official mascot of the NFL’s Houston Texans. Then they could have called the company “Zorro”…which is much cooler, in my opinion.)
A new home has come on the market and it seems perfect. It has the desired number of bedrooms and bathrooms and exhibits the charm and character you’d hoped to find when you started your home search. But with the real estate market heating up, you might worry someone else could beat you to the punch.
Before putting in your offer, however, you may want to consider having a home inspection done. While home inspections are typically conducted after an offer is made, prospective buyers can benefit by having a home inspection done before they put in a bid. Knowing the results of the inspection early can help solidify your decision to buy the home and make you feel confident about crafting a strong offer.
As Director of Career Development for Allen Tate Company, I believe I work for the best real estate company on the planet. Some may say that I’m prejudiced, but I believe when it’s right, you just know it.
I will admit, however, that I am in the catbird’s seat when it comes to watching success unfold. It is wonderful to witness the careers of so many new and experienced agents develop here and observe Realtors® reach the goals they thought were unattainable elsewhere.
“Market Report” is an exclusive tool developed by our firm to keep you abreast of real estate activity in your neighborhood. It provides a summary of all the properties for sale, properties under contract and recent sales. It allows you to link to full property details on each home including photos, and then summarizes all the statistical data for the properties included.
We currently send in excess of 60,000 Market Reports monthly to homeowners who have subscribed to the report. It’s like receiving your stock investment portfolio statement every month – but it includes data on your real estate investment!
North Carolina homebuyers have a period of time during which they can fully investigate a property (and the financing process associated with the transaction) and decide whether or not to proceed with the home purchase.
Sellers, meanwhile, can be compensated for the period of time the buyer needs for their “due diligence” period. This fee could be in addition to an earnest money deposit, which is treated separately in the Offer to Purchase and Contract. The “due diligence” process was incorporated into the North Carolina Offer to Purchase and Contract nearly three years ago by the North Carolina Association of Realtors®. With due diligence, a buyer and seller agrees upon a period of time during which the buyer can research a potential purchase.
During a negotiated due diligence period of time, the buyer must complete all of the inspections, surveys, and appraisals typically performed by a diligent buyer. In addition, the buyer needs to be satisfied with the documents governing the home; the availability and affordability of insurance for the home; and their own ability to be approved for a mortgage.