Category: Real Estate Information in Murphy NC

Home Inspections when Buying a Home in Murphy NC

Posted by I Love Murphy on November 12, 2011

When you’ve been shopping for real estate in Murphy NC and you’ve found a home you want to buy, having it inspected by a licensed home inspector is one smart move. Regardless of the condition you may think the home is in, an inspector can find issues with a home you never knew existed.

Home Inspectors Check Details of the Home You May Overlook — Home Inspectors Check a Wide Variety of Items. Here, notice there’s NO insulation!!

I always joke, but do seriously mean it, that hopefully an inspection is a complete waste of your money. Hopefully they’ll go through and find a few minor issues that are no big deal. At least that way you know! It’s the big things you are looking for so they can be remedied.

Here are some frequently asked questions I get a lot about home inspections:

1) Do you recommend a home inspection on a new construction home?

Absolutely! Homes are built by humans just like you and I. The fact is, they make mistakes. Although the odds are less for things being wrong, I believe it is still wise to do.

2) Can they check every aspect of the home I’m buying?

No. Although a home inspector checks a very wide array of parts of your home, there are limitations. Termite and septic are two things they are unable to check and are offered by a separate inspection. Also, they can’t see through walls and things of that sort. If you’d like more detail on what they are able to check, I encourage you to contact a reputable inspector.

3) What happens if an issue is found that needs repair?

When an item is found that needs repair, it is completely negotiable between the buyer and seller. Bear in mind that when you pay an inspector to do a full home inspection, there is an obligation to find something wrong with the property. Some items found are silly and some are important. So before you consider asking for a repair, ask yourself a few questions.
-Is this a big deal?
-Is the item doing the job it was intended to do?
-Was that item required as part of the building code when the home was built?

4) What about foreclosures?

You may have noticed that many foreclosures are being sold as is, where is. That does not mean that you cannot have inspection done on the property. In fact, I highly encourage you have foreclosures inspected. It is common that the bank nor the listing real estate agent know much of any use about the property. Because of that situation, it makes an inspection that much more important. What the bank means by as is, where is is they have no intention of doing any repairs to the property when you find something on the home inspection. In some instances, we have been able to successfully negotiate repairs on a foreclosed property. However, that is not the norm. It is a case-by-case basis that we can guide you through if you are purchasing a foreclosure home.

5) What price range can I expect for a normal home inspection?

Home inspections by a licensed home inspector normally cost between $300-500. The cost is normally driven by factors such as size, location, and features of the home.

6) What does a home inspector actually inspect?

As I mentioned above, the home inspector truly checks a wide array of items in a home. To give you a better idea though, here is a laundry list style of things to expect to be checked: the foundation, basement, structure, siding, windows, doors, other exterior elements, roof, plumbing, electrical system, plumbing system, central and other types of heating and air conditioning, walls, ceilings, floors, and major appliances.

If there are other questions you have about a home inspection, tell us! If you’re looking for a good home inspector in Murphy NC we recommend, check out our Gotta Guy List! You can email us, comment on this post, and more! When you are looking to buy a home in Murphy, NC, contact the team that has your best interests in mind! Call The Poltrock Team at REMAX in Murphy Today!

Searching for a home in Murphy NC? CLICK HERE to Search the ENTIRE Murphy NC MLS for all REAL ESTATE FOR SALE! You can also Search The Poltrock Team’s Listings. Not only that, we can do the work for you! CLICK HERE to tell us what YOU are searching for and we’ll send you the BEST properties we have!

John Poltrock – The Poltrock Team – REMAX of Murphy NC – www.MyMurphy.com – JohnPoltrock@gmail.com – Call us Toll Free at 1-866-Murphy-NC – 1-866-687-7496 – Murphy’s #1 Real Estate Team

The Importance of Termite Inspections When Buying Real Estate in Murphy NC

Posted by I Love Murphy on November 9, 2011

: Be smart and do a termite inspection on your home purchase. Don’t let termites eat your savings!

When it comes to buying real estate in the mountains of Murphy NC, a termite inspection is an incredibly inexpensive and important inspection. I commonly get the question, “are termites bad in Murphy NC?” Many places throughout the United States have a notoriously bad termite infestation issue. We are blessed not to be one of those places, yet the fact remains that we do have termites.

When it comes to buying a home, its a wise decision to have a termite inspection completed. Although our area may not be especially susceptible to termites, any home can still have an active colony calling it home. We often find them where they have done little to no damage, simply are present or creating tunnels. It’s often an easy fix that cuts future damage off at the pass.

Fortunately we have several pest control companies we work with and highly recommend. You can expect a thorough and low cost job, which is a rare combination. In many cases, it costs less than $100 for a licensed pest control professional to go out and thoroughly inspect the home you are buying. It simply a wise choice and money well spent.

Murphy NC Real Estate Closings – NC is an Attorney State, Sorry Title Companies!

Posted by I Love Murphy on October 28, 2011

Real estate closings are always a lot of fun and an exciting time in Murphy NC! It means a buyer, and a seller, have come together to meet a common goal. Part of the closing is have the title work done on the property’s title to ensure it is free of liens, encumbrances, and other issues that could negatively affect the new owner. In North Carolina, that’s where attorneys, not title companies, come in.

With so many folks buying land and homes here in Murphy NC that aren’t from here, they aren’t used to this. Many other states in the US operate their closings with a title company and no independent attorney is involved. However in North Carolina, this is not the case. North Carolina has a law that all real estate closings must take place with a North Carolina licensed attorney.

Cost

Many folks hear they have to use an attorney and automatically assume that means a huge bill at closing. That’s not the case! Because using an attorney is the norm in NC, attorneys are reasonably priced because they all ultimately compete for the business. That makes it extremely affordable, and in my opinion, better. You have a trained eye with years of experience and even more years of education on your side to make certain the seller conveys clear title and the buyer receives it. Not only that, from folks I have spoken with who use title insurance companies for closings, the cost is almost identical.

Title Companies are STILL Involved

Even though North Carolina is an attorney state, the title company plays a pivotal role in the closing. The attorney submits the title work to the title company so the property can receive title insurance. The title company then AGAIN reviews the title to make sure there are no major issues that jump out at them and then issue the title insurance policy protecting the buyer’s interests in the property.

Are you looking for a good real estate attorney?

Then Fear Not! We use many extremely good real estate attorneys here locally in Murphy NC. If you’re looking for a good one, CLICK HERE to see our Gotta Guy List that has our recommended contractors and businesses here in Murphy NC. Scroll to down to the “Attorney – Real Estate” category, and choose!

Need a good real estate agent to get you to the closing where you’ll need an attorney?

Look no further! The Poltrock Team will make certain you are well taken care of 🙂 You can even see the experiences other real estate buyer and sellers have had in working with us by checking out our Testimonials to The Poltrock Team at REMAX of Murphy NC. You can call us or use our online SELL MY REAL ESTATE form or FIND MY DREAM HOME form and we’ll get to work for you right away!

Flat Rate and Fee MLS Real Estate Listings in Murphy NC

Posted by I Love Murphy on June 19, 2011

In the height of the real estate market, there were several flat rate and fee MLS listing companies that arose when you could slap a yard sign up on a house and it sell practically instantly. After all, who needed a Realtor? Real estate practically sold itself!

Times have changed and you can tell just by turning on the news that the real estate market has changed and shifted drastically. Often it leaves the average seller and spectator in the dark as to what’s happened. What’s my property worth? How long is it going to take to sell it? What advertising do I need to do to get my home or land sold? These are common questions that may go through your mind – along with countless others.

Flat rate and fee MLS services aren’t available in Murphy NC largely. Even if they were, they’re dangerous no matter where you are selling a home. Why? It’s easy to look strictly on the up front financial side of the net sheet and say you save yourself thousands of dollars by skipping on a Full Service Realtor. However, consider these thoughts:

Advertising sells homes. You’ll never find a buyer, especially with remote locations in the mountains of Murphy NC, if folks don’t know your home is available for sale. With flat rate services, they don’t offer advertising other than the MLS. That’s only a very small portion of the equation. Expansive advertising, reputation, and a marketing plan with follow up is key. Also consider, do you have the time to put it in all the advertising venues your house deserves?
Leads come from advertising. Leads are prospects who inquire about your home. Without advertising, you don’t get leads. Even in the off chance on comes from the MLS presence, who’s going to follow up on them? Without someone to return calls, show the home, answer questions, and close the purchase, you’ll never stand a chance of getting it done. A flat rate broker can’t do this.
I shouldn't have paid the up front fee!!
Legalities. Do you know what can protect you from getting sued by your prospective buyer? There are a lot of legal ramifications that can come back to haunt you if you don’t dot your I’s and cross your T’s. Do you know which ones to do? This is a huge implication and saving few bucks for a tens-of-thousands liability isn’t worth the gamble.
Negotiations. Negotiations is a HUGE part of a real estate transaction. In fact, it’s probably one of the largest parts of it. Once a buyer is ready to purchase your home, let the negotiations begin! Price is always ones of the first items – the buyer wants the cheapest price and the seller wants the most money. It’s an age old story yet you want to make sure that it works out the best for you it can. Then, there are repair negotiations after the home inspection that can often destroy a transaction if not properly handled. It’s imperative to have experience, training, and a true advocate for your position. Otherwise, you’re liable to “give away the farm” when you don’t have to. How much would that cost you?
Lender Negotiations. With many homeowners owing more on their home than it is worth in today’s marketplace, we often have to negotiate with lenders to find a way to get the home sold. This takes a high level of training and experience. Would you want to try to tackle a mortgage company or bank on your own?
Pricing. Pricing a home is one of the most key elements to getting it sold. We all have preconceptions of what our home is worth, and understandably so! You’ve worked hard on it, perhaps raised a family in it, and it simply becomes a part of you. Mispricing a home happens a LOT and it’s important to make sure you “hit the nail on the head.” How many homes have you sold? What comparable sales did you use? Those are important and you won’t get any guidance from a flat fee broker – they don’t care if it sells or not because you just paid their full fee upfront. Hire someone who can guide you and show you a logical pricing strategy.
Performance Based. As I mentioned above, a flat rate MLS system doesn’t care if you sell because they just made their fee… upfront. In my book, you just paid too much because they have no vested interest in you OR your home! A traditional Realtor has a vested interest in your home… just like you do. They have time and money in advertising, showing, enhancing, and doing all the things they do for you. Regardless of whether they charge 5% or 20%, you don’t pay them a dime till they’re successful! Now that’s how you get your real estate agent’s interests in line with yours… and certainly not through an upfront fee.
Scams – some of these internet MLS sites I researched are straight money stealing schemes. They charge usually $500+ and it doesn’t go anywhere but their website. Some even claimed “MLS Exposure.” Their site has little traffic and it doesn’t go to the MLS that is used in the area of your property. If that’s not a ripoff, I don’t know what is.
Time. Do you have the ability when a buyer prospect calls to drop what you’re doing and go show the house? In today’s world, jobs, children, distance from the property, and more can make it REALLY hard to this!

So don’t come out of your real estate sale looking like the broken piggy bank! Hire a professional, full time Realtor with your best interests in mind. Call The Poltrock Team in Murphy NC today and find out the difference! 🙂

Be sure to check out Testimonials to The Poltrock Team and you can even fill our Sell My Real Estate form and we’ll contact you!

The Poltrock Team – Murphy’s #1 Real Estate Team – REMAX of Murphy NC – www.MyMurphy.com – JohnPoltrock@gmail.com – Call us Toll Free at 1-866-Murphy-NC or 1-866-687-7496

What is a shared well or community well for water in Murphy NC?

Posted by I Love Murphy on September 13, 2010

In Cherokee County (which is Murphy, Andrews, Marble, Brasstown, and more) North Carolina, there are several sources of water your home or property may have access to. The most popular are:

This well includes (from left to right) the well head, pressure, tank and sediment filter. Fido in the background is just moral support 🙂

City water – you hook to the town water supply. This is not common for most of our homes.
Private Well – you and only you own your own well and use it.
Spring – a natural water source coming from out of the ground on its own. It is usually capture by a basin of some sort and either gravity fed or pumped to your house.
Community or Shared Wells

Since this topic is on community or shared wells, I’ll focus on that. These sources are where multiple homes or structures use one (or in rare case, a series of) common water source. Wells are generally where our water comes from here, so most of the time you’ll it is a shared well.

In North Carolina, if you have a shared water system with more than 14 homes, it is considered a public water utility and it becomes governed by the state. Since this is a paperwork nightmare, you’ll generally find there are 14 homes or less on a system. My home, for example, has a well that is shared with 12 of my neighbors. It works great for us.

How are costs shared? There are many arrangements and are certainly no hard and fast rule how this works. The most common is each “member” pays $15-20 per month (or $180-240 per year) for the use of the water/basic maintenance. There’s no water meter, so that’s a flat rate. Those funds are to pay for power and maintenance, if any. The leftover funds are generally put in an account to pay for future maintenance. In the event a pump goes out or something more substantial that costs more than the fund has, everyone chips in equally to pay for the maintenance.

It’s a great system because many wells produce more water than one home can possibly use. When a well is shared, it lowers the cost of use dramatically for everyone involved. Not only that, it keeps the water “fresher” because you have a consistent draw on the well that keeps fresh water coming in and prevents the water from becoming stagnant.

So what’s the difference between a shared well and a community well? It totally depends on who you ask. The banks that provide financing on homes have a slightly different definition versus our real estate guidelines. However, a general idea is this:

Share well – one party actually owns the well and “shares” it with others. If you’re not the person who owns the land the well is on, you don’t have an ownership interest in the well, only a right to use it. This can be in writing and even recorded at the Cherokee County Register of Deeds to make it official and legal. It commonly has 14 or less people on a single source.
Community well – all the users share a source and there are commonly more than 14 people on a single source. Some are paid for through a fixed community fee while others are paid for by usage on a water meter, like Bear Paw..

With all that said, it’s a great way to have water in the mountains! Well water is my personal favorite because it comes right from the source! You could bottle my well water – it’s that good!

Taxes and Insurance Costs in Murphy NC

Posted by I Love Murphy on July 17, 2010

Insurance

We thought it might be helpful for you to know a little bit about real estate insurance in Murphy, NC. Insurance is something most everyone has to deal with and plan for no matter where you live, and we commonly hear of insurance rates in the thousands of dollars in other places around the U.S. – and thankfully my bill is not like that!

When you buy a home, did you know the rate is very commonly around a mere $600-$900 for a year?! You can’t beat that for coverage. Of course that can change depending on the size, type, and other factors of your home, but as a general rule, that’s a great place to benchmark yourself for planning purposes. I only pay $650 per year for my home! 😀

Did you know that if you buy a piece of land, you most likely don’t need to insure it at all? You probably should double check with your insurance agent to make sure of this on your policy, but your current homeowner’s policy covers any liability you might have with vacant land. That means you’ve got no additional cost there!

If you’re looking to buy a home, you may or may not be considering renting it out. If that’s the case and you would like to rent it out as a full time rental or vacation rental, be sure your insurance is right. Some of our local insurance agents can find and rental rider that’s included at no charge or very inexpensively!

Taxes

When it comes to land, it’s an extremely affordable tax bill. The tax bill is commonly around $50-$150 for an average 1-2 acre parcel and can be higher for a more expensive or desirable parcel. Large tracts vary and its best to research them on a per parcel basis.

In regards to homes, a cabin or chalet yearly tax bill is around $700-$900. A nice home assessed at $300,000 is right around $1,350, so it’s not too bad! 🙂

Tax Rate – The current tax rate is $0.385 per $100 of assessed value. Assessed value is currently higher than market value on most homes by 20-30%.

We’re really blessed with fair taxes that aren’t outrageous compared to so many other areas in the country!

New Update for August 2013: 3 Great Reasons to Retire and Live in North Carolina

FAQ’s

Will my tax bill change when I purchase a property in Cherokee County? No, generally not. Taxes here are based on “bulk appraisals” that are assigned roughly every 4 years. Your purchase will have a small bearing as to a future assessment but won’t directly change your tax assessment.

Is there a homestead exemption? No. Cherokee County assesses equally amongst everyone generally keeping all taxes lower.

Why are taxes lower in Murphy NC/Cherokee County than where I live? Although I can’t directly answer that, I do find that most people I’ve spoken with that have higher taxes often live in cities or close to them that have more “infrastructure” and “programs.” Things like garbage pickup all the way to big public works projects that cost money to operate and can attribute to higher taxes.

Is there a separate school tax? No, there is not.

Who do you recommend for insurance coverage? Easy! Check out our Gotta Guy List for great insurance agents you can work with here locally.

John Poltrock – The Poltrock Team at REMAX Mountain Properties – www.MyMurphy.com – JohnPoltrock@gmail.com – Call us Toll Free at 1-866-687-7496

What is Month’s Supply in Real Estate Statistics

Posted by I Love Murphy on July 14, 2010

In Murphy NC and real estate markets all over the United States, “Month’s Supply” is a term used to determine what kind of real estate market a property is in. It makes more sense when you see it calculated, so here’s the formula:

Number of Homes for Sale / Homes Sold in a Month = Months Supply

This tells you “if not another home was listed, how long would it take to sell what’s actively on the market?” The answer that comes from the formula tells you all sorts of things, and one specific benchmark is if the # is greater than 12 months, it’s generally a buyer’s market. If it’s less than 12 months, it’s generally a seller’s market.

In our monthly SOLD Real Estate Update, our absorption report takes it miles further by not only calculating the market as a whole, but individual price categories as well over the past month, 3 months, 6 months, and 12 months so you can determine trends, emerging markets, and more!

Email me NOW to join our Murphy NC Real Estate Update – for Free! Get our Exclusive Absorption Report and insight each month – along with the ability to see every house and piece of land that sold! Pictures, details, and more of each property are included.

The Poltrock Team – www.MyMurphy.com – JohnPoltrock@gmail.com – Call Us Toll-Free at 1-866-Murphy-NC or 1-866-687-7496

Our NEW Real Estate Search has been Upgraded! Search The Murphy NC MLS for FREE!

Posted by I Love Murphy on June 28, 2010

After many recommendations from our clients, we have found a way to make your search for real estate for sale in Murphy NC better! You can now search the entire MLS for FREE with no sign up required. Now that, we’ve always had. Here’s features our new SUPER ROBUST search engine!

Get EVERY picture available of homes, land, and commercial real estate for sale! Before, there was one. Now, there are many!
You can still search by the standards: MLS number, List Price, Bedrooms, and Baths
Now Search by the size of the land
Search by the area – yup! Just like we do! You can narrow it down to Ranger, Bellview, Unaka, Andrews, you name it.
Search by frontage – creek, river, lake front, all that good stuff!
Find homes by the Subdivision – now where else can you do that?!?
Search by the County
Search by the Zip Code
and to one up it, SAVE your search and your FAVORITE listings! If you build an account, you can do it all and even set yourself to receive automatic notifications. How cool is that!?

So start searching your way and enjoy this great new system! We still welcome feedback as we continually improve our online resources for you to find and buy real estate in the mountains of Murphy NC.

CLICK HERE to Use our New Online MLS Search Engine for Real Estate in Murphy NC

The Poltrock Team – RE/MAX Mountain Properties in Murphy NC – Call us Toll Free at 1-866-687-7496 – www.MyMurphy.com – JohnPoltrock@gmail.com

Town of Murphy NC City Zoning Ordinance Document and Information

Posted by I Love Murphy on May 12, 2010

Deed Restrictions and Zoning are the common ways of ensuring properties are used as intended here in the mountains of North Carolina. Almost all of Cherokee County uses deed restrictions to accomplish this. You’ll find in city limits of Murphy, North Carolina there is zoning applied to control the use of properties in the best way.

Download a Copy of the Zoning Ordinances for Downtown Murphy NC

If you’re buying in most anywhere else in Cherokee County (with one major exception with Bear Paw Resort), you’ll find that Deed Restrictions will be the most likely way of ensuring your real estate is protected.

Looking to buy real estate in Murphy? Email The Poltrock Team or use our online resources! You can Search the Entire MLS, View our Listings, or let us find your dream property for you – right from our website! Call today.

The Poltrock Team – REMAX Mountain Properties – www.MyMurphy.com – Call Toll Free at 1-866-Murphy-NC or 1-866-687-7496 – JohnPoltrock@gmail.com – Skype: johnpoltrock

Should I Sell My Murphy NC Home Furnished?

Posted by I Love Murphy on February 26, 2010

There are a lot of home owners who wrestle with the question, “Should I list and sell my home in Murphy NC fully furnished?” When it comes to working with real estate buyers, this question doesn’t have a direct answer because there are a couple considerations that come in to play.

Is your furniture nice and will it target your likely buyer? Then you certainly need to consider the option of selling it furnished. If it’s cabin furniture in a nice chalet or something of that nature, then you’d better believe it will help. If you want to keep some pieces for yourself, you need to say so in the listing or leave a “Detail Sheet” that will specifically tell them what goes and doesn’t.

Does it clash? You don’t want Florida beach decor in a mountain cabin, and believe me, people try to. If it doesn’t fit the look and style of your home, it’s likely that it will hurt you and you need to get rid of it.

Is the furniture junk you don’t want to move? Although an abrupt and direct question, if its junk and you don’t want it either, the buyer probably doesn’t want it either. In fact, it may be advantageous to get rid of your furniture and spruce it up. You can donate it to many organizations who will appreciate it, like Christian Love Ministries. You’re paying for professional service, so ask your Realtor what to do – what to keep, get rid of, etc.

Not sure – it’s not junk and not sure if the buyer will want it either? Ask your Realtor. Also, I would encourage you to separate the furnishings from your listing. In other words, put “Furnishings Negotiable” on the listing. That way, if they want them, you can work out a separate agreement while keeping them out of the real estate side.

Each case can be different, so be sure to hire a professional who can not only sell your home in the mountains – but can also guide you through the process and coach you on how to capitalize the best from your investment. If you don’t have a Realtor, call us!

Sell your Real Estate with Murphy’s #1 Real Estate Team – Call The POLTROCK TEAM Today! Toll-Free 1-866-687-7496 – www.MyMurphy.com – JohnPoltrock@gmail.com – REMAX Mountain Properties in Murphy NC