A Much Awaited Spring in Murphy, North Carolina – An Article for The Cherokee Scout by John Poltrock

Spring. It’s finally here. After a much colder than normal Winter for not just us, but the entire Southeast and beyond. Spring holds promises of blooming flowers, hummingbirds, and Summer.

I love the Summer and everything about it. Folks are out and about gardening, meeting new friends, playing on the Lake Hiwassee (one of my favorites!), camping, hiking, ATVing (another one of favorites!), spending time at the John C Campbell Folk School, and so much more. The options and opportunities are seemingly endless here in the mountains so long as you’re willing to get up and go enjoy them.

Real estate, too, enjoys the Spring and Summer season.  Buyers excitedly shop around for the home or cabin they’ve been dreaming of and working to get for many years. Sellers anxiously anticipate the buyer who simply loves their home. It’s a great time that builds memories and changes lives for not just a season or a year, but for an entire lifetime.

I still speak to many pessimists who believe the world is crashing in around us… and I’m ready for Spring to change their mind. There’s no doubt I’m a full fledged optimist who believes last year was the year of positive change. That’s right – I did say and did mean last year. 2009. You got it. And its not just optimism, it’s facts.

2008 was simply the worst year we’ve had for real estate in more than a decade. Things changed so rapidly, you couldn’t possibly keep up. 2009 indicators and statistics show strong improvements. 2010 is already showing improvement over 2009. Life is good! We’re witnessing history in the making that historians are going to be talking about for hundreds of years. We’ve lived through one of the most challenging economies the U.S. has seen and must keep moving forward. If you’re still facing hard times, pick your head up and hang in there as best you can. Things are changing for the better.

As things change around us, give us a call and let us help you with your real estate and show you how the changes have affected you. If you’re facing hard times and there’s a home or some land in the way that’s hanging over your head, let us help. That alone can change your family tree faster than almost anything. If you’re doing great and don’t have to sell or just want to, give us a call. If you know now is the best time to buy and want to take advantage of a great opportunity that’s out there for you, give us a call. We’ll point you in the right direction, always be honest with you, and give you that Rockstar service you deserve.

The Poltrock Team at REMAX Mounain Properties – Murphy NC – www.MyMurphy.comJohnPoltrock@Gmail.com – Call us Toll Free at 1-866-687-7496

Paul and Bobra Ferdenzi ~ Satisfied Murphy NC Home Sellers!

Paul and Bobra Ferdenzi are one of The Poltrock Team’s most recent satisfied clients, selling their cabin home within Panther Hills subdivision in Murphy NC located on just over 1 acre of land.

“We were referred to the Poltrock Team through previous clients of theirs.  Their professionalism throughout our selling process has been exceptional (almost to a fault!) with the best communication being delivered during each aspect of the sale”, Bobra said.

“Based on our experience with John, we really feel there is no area of his business dealings that he could improve on, and that is really saying something in my books!” Bobra went on to say.

Their completely remodeled cabin home, with 2 bedrooms, 1.5 bathrooms, maple wood floors, tongue and groove walls and all new appliances was sold for 96% of the asking price.

Paul & Bobra Ferdenzi
Murphy NC Residents

For results like these, Contact The POLTROCK TEAM Today!! Toll Free 1-866-687-7496 or JohnPoltrock@gmail.com

“Murphy NC Real Estate is Better Becaause of You!”

Friendly, fast and efficient“.  Those are the first words that came to mind when describing the experience David and Stella Rusaw received from Murphy NC real estate‘s Poltrock Team.  “John did a great job in the hard (economic) times we are facing currently.  He was able to locate a buyer for our home and are very happy to have it sold.”

The quick sale generated by my ongoing marketing, both online and offline, and knowledge of the Murphy, NC real estate area allowed us to receive this great review from one of our many sellers.  David and Stella also gave us a 10 out of 10 rating on the level of service we provided him with and that he would undoubtedly work with us again.  Thank you, David and Stella for your kind words!

David and Stella Rusaw, Murphy NC Real Estate Sellers

Understanding a Short Sale in Murphy NC Real Estate

Short sales in real estate have been a popular topic not only in Murphy NC, but all over the United States. National media has brought attention to this topic, and many people simply don’t understand what a short sale is. A short sale is not like a real estate foreclosure, which is is where a bank has repossessed a home or land parcel because the borrower failed to make their payments.

Need Help with a Short Sale? Get The POLTROCK TEAM!
Need Help with a Short Sale? Get The POLTROCK TEAM!

A short sale happens when the owner (or borrower) still has possession of the property and sells the property for less than what is owed to the bank or mortgage holder.

A mortgage must always be satisfied (paid off) in full in order for a property to sell. In order for that, one or a combination of three things must happen:

  1. The most popular and most talked about is the bank/mortgage holder writes off the loss and “forgives” the borrower. In some instances, it can still negatively impact your credit – but not as bad as a foreclosure.
  2. The borrower brings cash to the closing table to pay for the difference. This rarely happens because if the homeowner had the money to pay the difference, they would likely not need a short sale in the first place. Short sales are generally reserved for when foreclosure seems inevitable and the borrower has no way to pay back the note.
  3. The owner borrows the money to pay the difference. Many times the institution (so long as it is not a mega-national company) will loan the difference or a personal loan can be given from another bank.

Many sellers who are “upside down” in their real estate are trying to attempt this option. On the surface, it seems very easy. The truth is, there are a lot of hoops to jump through and you may not qualify for it. I was working a short sale and had the buyers about two weeks ago. The president of a large local bank told me, “If we did it for these guys, then we would have to do it for everyone. That would say it’s okay to default on a loan you promised to repay and that’s just not right. We’ll foreclose on it before we’ll even consider short selling it.” On the other hand, some banks would far rather a short sale than to have to go through the expensive process of foreclosing. We’ve closed short sales and they do happen.

There are so many things that come into play on these that I will have to save them for a later time. Keep an eye out for more on this topic and I will try to link them together to make them easily found. If you have any questions, call us or email! We’re in business for you and are happy to help any way we can.

Related articles:

Perils and Advice of buying Short Sale Real Estate in Murphy, North Carolina

John Poltrock, Certified Residential Specialist – The Poltrock Team at REMAX Mountain Properties – www.MyMurphy.comJohnPoltrock@gmail.com – Toll Free 1-866-Murphy-NC or 1-866-687-7496

Tips for Bargain Buying Real Estate in Murphy NC

            Real estate has been a hot topic here lately in the news – and its positive! Nationally, sales were up for the month of February. Ms. Lisa Floyd of Carolina Farm Credit was kind enough to send an article from USA Today that sums up what we as Realtors and mortgage lenders are seeing. Home mortgage rates have dropped to less than 5% and have spurred a race to buy a new home and to refinance current ones. Coupled with rock bottom low prices on homes, buyers are in search of great deals and good rates – and you’ll find them.

            With that said – there are some things you really need to consider when you’re looking for a new home today.

  • Consider ALL the purchase options:
    • Foreclosures: if you’re a buyer, this is really becoming a hot topic. There are some great values on bank owned properties and then there are some rip-offs no matter what the price is. Don’t get caught up in the “allure” of buying a foreclosure. It doesn’t make you a “sophisticated” buyer or make you look like you’re on the cutting edge with your friends. There are many times as good or better buys that the bank doesn’t own. Look at ALL your options because many times there are better choices. (You can learn more about foreclosure buying and tips on our website www.iLoveMurphy.com . Search “foreclosure”)
    • Short Sales: This is another hot topic that not everyone knows about. This is where the current owner is selling their property for less than what they owe on it. The bank either forgives the difference or agrees to do a personal loan to the owner for the difference (in which the owner still has to pay back the lost money over time). I’ve seen several cases where there’s a better buy on short sales than foreclosures, so this is a good consideration. In this case, you MUST have patience because it will be very drawn out.
    • Sellers: this is the tried and true way and doesn’t have the fancy new lingo attached to it or make you sound sophisticated, and many times this is still the best way. Many homes have been owned for 10+ years and they can afford to sell it at a great value. Other sellers MUST move and are willing to take a hit to get on with their lives. There are thousands of other possibilities here and you should certainly not rule this out just because it’s not the “cool, new thing.”
  • Here’s what you must have when you buy a new property:
    • Patience: If you’re dealing with foreclosures and short sales, you better have patience and the ability to wait. If you need to move in to a house yesterday, you had better look at some other alternatives. Odds are there will be delays coupled with large amounts of waiting to find out about offers and more.
    • Patience: Nope – I didn’t stutter here. This is more important than anything. Sometimes you won’t find what you’re looking for right away. You’ll have to be willing to tell your Realtor to look ACTIVELY for you and be able to act fast when the right thing comes along. Although there are a lot of homes on the market currently, some styles/categories/types of homes in certain price ranges are very picked over. As such, you need to have the ability to wait and look for the right thing.
    • Money in Hand: There’s no need to walk in with a suit case of money (although you’ll be able to negotiate a bit harder for a better buy if you do!). You do need to be prequalified with a reputable mortgage lender and have verifiable funds to pay your down payment. This is very important because sellers (or banks which won’t even look at your offer unless you complete this step) will take you far more seriously and give you a better value.
    • Don’t Fall in Love: When you’re negotiating for practically anything, you have to be able to have “walk away power.” You’ll get a better deal if you have the ability to walk away from the table and move on to the next thing. If you fall in love, you loose that ability. Don’t get me wrong, there’s absolutely NOTHING wrong with buying a property you absolutely love. It may cost you a little bit more, and that’s okay. It’s probably worth it.
    • Representation: With all the new topics, concerns, and issues that face you in your real estate purchase, it’s not wise to try and tackle it on your own. Real estate is one of the largest investments you make, and you should have a Realtor and/or an attorney who specializes in real estate working for you. As Warren Buffett said, “Risk comes from not knowing what you’re doing.” Make sure you’re comfortable with and trust your agent and/or attorney.  They should also have the heart of a teacher. They need to be able to break everything down for you so that you can easily understand it and the choices you have.

            Real estate is an excellent investment strategy when it’s done correctly. We’re finding buyers that are ready to buy now because they know that the market is dragging bottom! You can look free of charge with no obligation to see what properties are available on our website at www.MyMurphy.com. Contact us or your agent to find some great opportunities that aren’t online because they’re out there!

            If you’re selling your property now or considering it, yes – the value of your property is down from the peak of the market. The good thing is you can take this information and utilize it once your property is sold and you’re buying another. You WILL get a better buy now than what you would have, even if you got more money for it before. Truthfully, it’s likely a zero sum game and the numbers are just different. Talk to your current agent or call us and we will help you any way we can. We’re here for you!

John Poltrock, The POLTROCK TEAM with RE/MAX Mountain Properties – www.MyMurphy.com – Call us Toll-Free at 1-866-687-7496 – JohnPoltrock@gmail.com

February 27th Murphy NC Real Estate Market Update and Report

TGIF! Thank God it’s Friday! We hope you all have a wonderful weekend planned – and hopefully it won’t be rainy! It’s scheduled to be an 80% chance of raining all weekend here in Murphy!

 There’s a lot of activity and bustle in the real estate world right now! The Cherokee Hills Golf Course is on schedule to be bought by FJ Investments and totally renovated. It is scheduled to close mid-March, which is just around the corner! Frank Johnson (the sole owner of FJ Investments) is in our office practically everyday making plans, scheduling, and all that goes along with his new project. That will create a lot of jobs and excitement in our area!

 On to real world real estate! The average sales price of homes for the past 14 days is at $169,167 with an average days on market of 181 days! NICE! Days on market appears to be falling a bit with the past few closings (the past 30 days has averaged 198- the lowest we’ve seen including all of last year).

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Of those homes sold, there’s an astounding 4 that were foreclosures, which (to the best of my knowledge) makes the highest record of foreclosures sold in this time frame. There’s a lot of opportunity for buyers out right now! There’s no doubt about it, it’s very important for sellers to price their property accordingly to combat the constant challenge of increasing foreclosure inventory. Thankfully we’re no saturated with them!

If there’s anything we can do for you, please don’t hesitate to let us know! We’re in business for you and are very thankful for you! We’d be happy to answer questions or concerns you may have and/or make changes to your listing whether it be pricing or another strategy.

 Have a blessed and safe weekend!

 John Poltrock

RE/MAX Mountain Properties
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