Raleigh - Durham...A Real N.C. Girl's Perspective

The National Association of Realtors® (NAR) just released its 2007 Profile of Buyers' Home Feature Preferences. Their survey measures national trends in buyer preferences.

By understanding what buyers want most in their new home, you can better determine your home's appeal to today's buyers.

Let's look at the questions NAR asked and the answers to those questions...

1. What single home feature do buyers say they want most in a new home? (Central air conditioning)

2. What's the median size of homes purchased between late 2005 and early 2007? (1,840 square feet)

3. Repeat buyers tend to be choosier than first-time buyers. In particular, repeat buyers place much more emphasis on these home features: (Oversized garages and master bedroom walk-in closets)

4. Within three months after buying their new home, nearly half of all buyers remodeled or made improvements to which part of the house? (Kitchen)

5. Which home feature saw the biggest jump in buyer popularity since 2004, when NAR conducted its previous buyer preference survey? (Oversized garage)

6. What three features did buyers say they'd be most willing to pay extra for in a home? (Central air conditioning, walk-in closets, and hardwood floors)

7. A home's energy efficiency is most important to which segment of buyers? (New-home buyers)

8. Where do first-time home buyers tend to purchase a home? (Suburb or subdivision)

9. What's the most common type of home purchased? (Single level)

10. What did new-home buyers most wish their home had more of? (Storage)

Now that you know what buyers are looking for...
perhaps, you are asking yourself..."What if my home doesn't have what they want?"

No worries! One thing I've learned is that there IS a buyer for every home. However, as a REALTOR®, I can tell you that it is much easier to market and sell a home that fits the needs and desires of the majority of buyers. A 'unique' home will appeal to a small pool of potential buyers. Although it only takes one buyer to buy your home, it is easier to find that 'one' buyer if you have a large buyer pool in which to fish!

By knowing what 'they' (the buyers) want...you can better evaluate how your home measures up. Once you recognize your home's strengths and weaknesses, you can decide what you need to do to increase your home's appeal. Often...small changes make huge differences.

Even if you choose to do nothing, you will be making your decision from an informed perspective.


If you, or someone you know, is planning to buy or sale...I'd love to help!
Please contact me, Elizabeth Nieves, Broker, REALTOR®
The Elizabeth Nieves Realty Group @ Keller Williams
(919)749-3749 or Elizabeth@ElizabethNieves.com


To search EVERY HOME FOR SALE IN THE MLS...visit my website @ www.ElizabethNieves.com.

I am so excited to announce that my little company, The Elizabeth Nieves Realty Group, is now officially part of the Keller Williams Family!

My husband, Diego, and I opened The Elizabeth Nieves Realty Group in August 2005 with one purpose in mind...to serve the WHOLE community with the highest level of integrity and excellence! We had a dream of making a positive impact on our community by increasing home ownership and helping families to plant roots in their community. We also had a vision of ‘evening the playing field' in our market...by overcoming language and cultural barriers.

For the past two years, we have assisted hundreds of families in the Triangle area and beyond to achieve their dreams of home ownership. Many of these were first-time home buyers who had never imagined that they would one day be opening the doors to their own, new home. The greatest reward is watching a child, who has never had a room of their own, run into their new home and light up with joy when they see their very own bedroom for the first time.

Although we had previously worked for a larger, internationally franchised company, we felt that we could better serve our clients, our community and our vision by opening our own company. We have always been different. Part of what sets us apart from our competition is that we truly understand that our clients are the heart and soul of our business. Without them, we have no purpose.

Keller Williams was founded on the same principles of service and integrity. When I was introduced to KW and had the opportunity to observe their business model in action, I immediately realized that we were not the only ones ‘doing it right' in this business.

Joining Keller Williams was not a difficult decision for Diego and me. KW shares our values and our vision. It is a win-win proposition for both of our companies. However, I truly believe that the biggest winner is the community!

IF you, or someone you know, is planning to buy or sell...I know a GREAT REALTOR®! I'd love to introduce you to her.

Contact:  Elizabeth Nieves - Broker, REALTOR®  The Elizabeth Nieves Realty Group @ Keller Williams

Elizabeth@ElizabethNieves.com OR (919)749-3749  I look forward to hearing from you!

To search EVERY HOME FOR SALE IN THE TRIANGLE AREA...visit my website at ElizabethNieves.com

Since I am asked this question so often...I have decided that THIS is a very timely and appropriate subject...especially given the recent changes in the mortgage lending world. So...what is the difference, and why does it matter?

In the real estate world, it is common to hear an agent ask...'Does your buyer have a pre-qualification or a pre-approval?' IF the answer is, ‘He has a pre-qualification', the agent will probably reply, ‘Well...you know that pre-qualification isn't worth the paper it is written on!' WHY would he say such a thing??

The answer to this question can best be answered by answering the previous question...'What is the difference, and why does it matter?'

The difference is very simple. A pre-qualification is an opinion...an educated opinion...but still an opinion. It is usually given by a loan officer after a conversation with the prospective buyer, based on the prospective buyers' answers to some basic questions. In most cases, the loan officer will issue the pre-qualification without verifying that the information he has received is accurate. Therefore, regardless of how qualified and legitimate the loan officer may be, a pre-qualification based on information that has not been verified is not reliable.

In contrast, a pre-approval is a loan commitment based on verified data, documentation and credit worthiness. A pre-approval indicates that the lender has submitted the prospective buyers' application and documentation to underwriting, and the loan is approved subject to the following conditions: the buyer entering into a sales contract for a specific property, the buyer performing inspections and negotiating the repairs for the property and the appraisal of that property. The lender will also require clear title and hazard insurance prior to closing.

IF you are still unsure of the difference, this example will clarify everything for you!

IMAGINE you are experiencing some strange health symptoms and decide to see a doctor. The first doctor talks to you and asks you to describe your symptoms. Without examining you physically...without any blood tests...without any investigation of any kind...he announces to you that you have a rare disease and must have emergency surgery immediately. The second doctor asks you the same questions, then he examines you physically. Before he pronounces his judgement, he also orders a full blood panel and other necessary tests. After receiving the results, he assures you that you have a virus that will pass in seven days. IN WHICH DOCTOR WOULD YOU HAVE MORE CONFIDENCE?

IF YOU ARE THINKING OF BUYING A HOME, THERE ARE FOUR VERY IMPORTANT REASONS TO SEEK A PRE-APPROVAL BEFORE BEGINNING YOUR HOME SEARCH...

1. Once you find a home you wish to purchase, your offer will be much stronger and more favorable if you have a pre-approval. The reason is that the seller can place his confidence in your offer making it to closing. IF there are multiple offers, the seller may even choose yours over another buyer just because you are pre-approved.

2. You may be able to obtain the home for a lower price because you are pre-approved. With a pre-approval, a large portion of the loan process is complete. Therefore, you could submit an offer with a shorter contract period. In the real estate world...time on market is dollars lost. A quick closing is worth money to the seller.

3. With a pre-approval, you can be sure that you do not waste time looking for homes that are outside of your price range. There is nothing more discouraging than finding a home you absolutely love and later realizing that it is above your price range.

4. With a pre-approval, you will not spend money on inspections and appraisals only to learn that the loan officer was ‘off' by $10,000 when he pre-qualified you!!! Of all the reasons...this is the one that makes the most sense to me. You work hard to earn your money. By taking a week or two extra to obtain pre-approval, you will ensure that you do not waste your time and money on the wrong home.

I hope you have enjoyed this article and learned something in the process!
If you, or someone you know, is planning to buy or sell a home...I know a GREAT REALTOR®. I'd love to introduce you to her.
Contact: Elizabeth Nieves - Broker, REALTOR®

To search EVERY HOME FOR SALE IN THE MLS: Elizabeth@ElizabethNieves.com

Located just 10 miles north of Durham, NC...Black Horse Run is a a little piece of country heaven! IF you are a horse owner seeking a new home for both you and your horse, Black Horse Run is the perfect place for YOU. IF you are a nature lover, Black Horse Run is the perfect neighorhood for YOU. IF you are seeking a peaceful retreat from the traffic and noise of the city, Black Horse Run is perfect for YOU.

More Black Horse Run facts:

• Year Built: 1980's to 2007
• Average Home Size: 3348 Sq.Ft.
• Range of Lot Sizes: 1-4 Acres
• Schools: Mangum Elementary, Chewning Middle & Northern High
• Average Price for HOMES SOLD IN 2007: $339,727
• Located 15 miles from Duke University
• Lots also available for sale!

To search every home for sale in Black Horse Run or Durham, NC...visit my website at www.ElizabethNieves.com.

North Durham is often overlooked by newcomers to the area because it is just a little bit off the beaten path. However, North Durham has much to offer.

Briardale is one of North Durham's best kept secrets. Tucked away in the trees...just off Infinity Road...Briardale is the picture of tranquility. With an average lot size of .5 acre and average home size of 2100 sq.ft., Briardale is the perfect neighborhood for families with children.

More Briardale Facts:

• The homes in Briardale were built between 1992 and 2002
• The average price for HOMES SOLD IN 2007 is $233,071
• The average days on market for HOMES SOLD IN 2007 is 55
• West Point on the Eno is located just 2.5 miles from Briardale
• Northgate Mall is located just 6 miles from Briardale
• Duke University is located 9.3 miles from Briardale
• I-85 is 7.2 miles from Briardale
• Hillandale Golf Course is located just 8.2 miles from Briardale

To search every home for sale in Briardale or Durham, NC...visit my website at www.ElizabethNieves.com!