Duke Brothers

Starting your search

2012-01-31T16:42:00.001-05:00

One of the first things you should do as a buyer in this fantastic buyers’-market is find out your buying power. I advise shopping around since different lenders have different products. On the one hand, there is a myth that several credit checks will ruin your credit score- not true if you are shopping for a car, student loan or home. However, this is typically done in a short period of time. Check the internet or with your lender to find out their opinion.

For example, if you estimate you will be ready to buy six months from now, you will likely want to get prequalified in 3-4 months. However, a rule of thumb is that you do not want your mortgage payment to exceed 28% of your gross (before taxes) monthly income. So, if your household income is $50,000 a year, your monthly gross income is $4,167. You don’t want your monthly payment to be more than $1,167.

A monthly payment is comprised of PITI. This is an acronym for Principal, Interest, Taxes and Insurance. In many cases, a monthly payment will also include a fifth component: PMI or Private Mortgage Insurance. PMI is insurance for the lender, not you (even though you pay for it). If you default on your mortgage, the lender gets paid. It is typically applied to mortgages where the principal you're financing is greater than 80% of the value of the home.

Conversely, that means you have saved up 20% or more down payment for the loan. For example, if you are purchasing a home that appraises for $100,000 and you’ve saved up 20% for the down payment (or $20,000) then your principal will only be $80,000 and you shouldn’t require PMI. Plus, depending on your loan product, your monthly payment will be about $520 per month.

Keep in mind, this payment depends on a lot of things. It assumes the tax value of the property is about $80,000 at a local (High Point) tax rate. It also assumes the interest rate on your loan is true to today’s interest rates: somewhere around 4%. Get shopping!

Starting your search

2012-01-31T16:42:00.000-05:00

You'd think foreclosures were the only bargain...

2012-01-09T10:50:00.000-05:00

I am fascinated by the new view of what a "bargain" is. It was only a few years ago that folks were having bidding wars on properties. Now, some buyers believe if they have to pay a dollar extra each month, they've been had.

There is no doubt, for those in the financial position to do so, this is by far the best time to buy real estate. Housing prices have fallen dramatically since 2007 and interest rates hold steady in the 3-4% range!

One man’s misfortune has been another man’s gain, and that is foreclosures. Many people are attracted to these properties because they have dollar signs in their eyes. They believe the added equity in the purchase of such a “bargain” leaves them in the catbird seat. However, most foreclosures were held by folks who were struggling to pay their mortgage. Is there any reason to believe that these homes were kept up by the occupants? If they couldn’t afford the payments, they certainly wouldn’t be able to afford any upkeep or repairs.

Assuming there are very few “gems” as foreclosures and most need quite a bit of work, any bargain you may get will quickly evaporate as you invest $10,000, $20,000, $30,000 to get the home into a livable condition. For the most part, foreclosures are great for investors who are experienced and can quickly assess the “damage,” determining how much to fix and whether to flip or rent. They also have the capital as this is their livelihood.

On the other hand, foreclosures are not ideally suited for first-time homebuyers. That’s not to say first-time homebuyers should never consider a foreclosure. However, between saving money for the downpayment (if any), the money brought to the closing table (tax service, inspections, appraisal fees etc…) and the new fridge, moving truck and new blinds, the first-time homebuyer is too often tapped out.

There are many fantastic deals out there that are owner-occupied, ready to move in. These houses often are in pristine condition and with the right Realtor^®, the owners can be convinced that taking less than the asking price is a smart move for everyone. Plus, the smart Realtor^®will have already convinced the seller to price the home right from the get-go.

Although banks have a magic number they want to attain and likely place the offering price in some sort of formula, the owner-occupied listing should have received a heart-to-heart talk from their Realtor^®, explaining to them a “bottom dollar” or “magic number” is unrealistic if you want to sell quickly. Sometimes, taking a loss is the only alternative to waiting. And if you've got a mortgage on the home, you've paying your monthly payment and continuing to bleed when you could have sold sooner. The sooner you realize your cheese has been moved, the sooner you will sell your home.

There may have been a time where a foreclosure here and a foreclosure there should not be considered when pricing a home. But the pervasiveness of foreclosures has brought down the “going rate” of nearly all homes which is why most current asking prices are pretty accurate.

It’s very important buyers find the right Realtor^®who will show them the true value of homes they are considering and who will explain to them that foreclosures are not the only bargain on the market. It is also critical that sellers find that same type of Realtor^®who will not blow smoke just to get the listing. Sellers must have a frank talk with their Realtor^®about the rapidly-changing market and that their home today is not worth what it was four years ago.

So proud!

2011-06-26T13:35:00.008-04:00

Every year, the High Point Enterprise puts out a guide to High Point. This year's version came out in the paper yesterday and in the section addressing real estate, they placed two pictures of homes in High Point. Just so happens BOTH of those homes are houses my husband built!

The first one is the first NAHB Green home in High Point. We know other tract builders have built MANY other green homes in High Point since then but before we started bragging about this in early 2009, we checked with the NAHB to make sure no one else had applied at the same time so we were pretty sure we were the first. ;)

The second picture is of a lovely craftsman style home Steve picked out in 2007. Always trying to keep up with trends, he finished this house in 2008 and now, craftsmen are all the rage. Same thing happened in the 90s- my husband traveled to California, stole the idea of bullnose corners for homes and then all of a sudden, in the late 90s, early 2000s, builders in this area started doing them all over.

Maybe it is coincidence the best pictures they had of High Point homes were two beautiful houses Duke Brothers built, but I would like to think that ours shine above most.

So proud these two awesome houses are now representative of what High Point can offer you in the way of quality real estate!

If you know anyone anywhere who is thinking of moving to North Carolina, tell them to consider High Point. If they are moving to High Point, tell them to consider a custom home by Duke Brothers. We build some of the best quality you will ever buy. The investment is worth not giving your money away to the utility companies. It might cost a little more, but you won't be disappointed!

Hindsight is 20/20

2011-03-09T14:30:00.005-05:00

I was watching an old episode of one of my favorite TV shows, Monk, when I came across this: The episode is The Girl Who Cried Wolf from Season 3, 2004. Mr. Monk and the infamous Harold characters are fighting over how the magazines should be organized. One of the magazines in the background is a copy of San Francisco and the headline on the cover reads: Surreal Estate- will the bubble ever burst?

Yes, Virginia, the bubble will burst in the worst way...

Marketing

2010-12-27T21:54:00.007-05:00

I know this isn't an "energy efficient" topic but I just had to make a comment about a letter I received recently.

For the holidays, I sent a new calendar to my family, friends, and past clients to thank them for their business, wish them a Merry Christmas, and hope they think of me if anyone they know needs a Realtor in the near future.

I had a few leftover calendars so I thought I would send them to some local folks who might appreciate the business we are in- selling healthy, energy efficient homes.

Keep in mind that sending yearly calendars is a common practice among Realtors and, in this market, we need to find any way we can to ferret out folks who might be considering getting in the market. Imagine, if you will, YOU working 40 hours a week and not getting paid until your account "closes." IF your account closes. Not a fun career all the time. When you fairly new and you're trying to create a steady client base, we need all the help we can get.

The letter I received back was ironic in soooo many ways.

First, the letter was a tad bitter. Instead of addressing me directly like the letter I sent explicitly made clear, they sent it TO WHOM IT MAY CONCERN in all caps.

Second, it was from a local mental health organization. Tsk, tsk, mental health workers playing mind games? One would think that they would be kind, gentle, thoughtful people. But instead, they took the time out to express their crabbiness that I had sent a letter to a docctor who does not practice at their facility anymore. Fair enough- a nice way to say that is "please take us off your mailing list." Looks like someone needs etiquette lessons....? Or maybe even some counseling themselves.

Finally, the ironies of all ironies, the very end of the letter said they were trying to save trees by not receiving unsolicited mail. That's pretty funny they decided to kill a tree by responding to me via snail mail instead of writing me an email, which was available in my original letter.

So a couple things have been accomplished here- if anyone ever asked me, a fairly linked-in and connected community figure, where I'd recommend to get behavioral health or disability services, I would make sure they avoid this place. Secondly I wonder where they market themselves. I know for a fact they have a website so obviously they think there is some value to marketing.

Lighten up, people! You would not hurt my feelings by sending me an email asking me to take you off my mailing list. But you do yourself some damage by acting like an ass in a response letter.

Merry Christmas! Hope your 2011 brings you less anxiety and more meditation.

Green Siding Options

2010-10-22T19:22:00.005-04:00

By: John Riha

Selecting green siding is a matter of weighing trade-offs in longevity, insulation, biodegradability, maintenance, and, in some cases, cost.

If you think you’ll pay a premium for selecting green siding for your home, think again. Many of the best sustainable choices are familiar materials that have been on the market for years. Some products are made with recycled materials and others have improved insulating qualities that add only a moderate increase in price. When choosing replacement siding, weigh the pros and cons of sustainability, thermal performance, and the cost of eco-friendly products.
Evaluate sustainability

When choosing siding, consider its sustainability. Sustainability is an estimate of how long a material will last; if the material can be recycled; if it contributes to health concerns; and if it’ll readily biodegrade in a landfill. Maintenance, too, is a key consideration. High-maintenance materials that require regular upkeep, such as repainting, and use additional resources and energy over their lifecycle, are less sustainable.
Improve energy performance

A siding replacement project offers an excellent opportunity to boost your home’s energy performance and make your house healthier. Adding a house wrap (which prevents water infiltration and air leaks) and rigid-foam insulation is one of the best ways to reduce energy consumption and protect your home from moisture condensation inside walls—a major source of mold problems—no matter what type of siding you choose.

Adding insulation increases R-value—a measure of insulation performance. A house with 3-1/2-inch stud walls filled with fiberglass insulation has an R-value of about R-12. Adding rigid foam and house wrap can boost insulating performance to between R-16 to R-20, reducing your annual energy costs 5% or more.
Costs of green

Siding replacement has proven value. A siding replacement project using foam-backed vinyl siding returns more than 80% of its initial cost at resale, according to Remodeling magazine’s Cost vs. Value Report—one of the highest values in the annual survey.

Because many types of siding are extremely long-lasting, they can be considered green options, but without a premium price. However, improving thermal performance—and, therefore, boosting the siding’s greenness—with house wrap and rigid-foam insulation adds cost—about $1,800 for an average house, according to Fine Homebuilding magazine. Many green consumers feel that contributing to a healthier, sustainable environment is more important than higher initial costs.
House wrap

House wrap is a thin, tough, semi-permeable membrane that’s applied over the outside of wall sheathing and under the siding. It’s designed to block water and reduce air infiltration while allowing moisture vapor to pass through.

Sustainability: Extremely durable and long-lasting, this flexible, plastic material is recyclable.

Energy efficiency: Using house wrap, along with properly sealed joints at windows and doors, can reduce air infiltration and save on annual energy bills. Some varieties, such as DuPont’s Tyvek ThermaWrap and Low-E Housewrap from Environmentally Safe Products include heat-reflective layers that increase insulation performance by a factor of R-2.

Cost: 25 cents to 50 cents per sq. ft., installed
Rigid-foam sheathing

Rigid-foam sheathing is lightweight, easy to apply, and comes in a variety of thicknesses. Unlike fiberglass insulation, which fits between studs, sheathing blankets the entire exterior wall. It can be applied directly over existing wall materials, such as hardboard, stucco, and wood, providing a smooth substrate for new siding.

Sustainability: The manufacture of extruded polystyrene (XPS) sheathing is associated with the production of chlorofluorocarbons (CFCs), which damage the ozone layer, although some manufacturers are researching CFC-free production methods. Expanded polystyrene (EPS) foam sheathing doesn’t produce CFCs and is considered environmentally friendly. EPS can be recycled but doesn’t degrade readily in landfills.

Energy efficiency: Insulating values of R-3 to R-7 per inch thickness.

Cost: 20 cents-$1 per sq. ft., depending on thickness and thermal performance.
Insulated vinyl siding

Insulated vinyl is similar to regular vinyl siding, except it includes a layer of EPS foam insulation. Its thickness makes it more rigid and easier to work with than regular vinyl.

Sustainability: Vinyl requires little maintenance and will last 30 to 50 years, but it’s made from polyvinyl chloride (PVC), a chemical compound that doesn’t degrade in landfills. During manufacturing, PVC produces byproducts that include dioxin. Vinyl siding can be recycled.

Energy efficiency: Adds approximately R-3 to walls

Cost: $3-$8 per sq. ft., installed; 15-30% more expensive than regular vinyl
Fiber-cement siding

Fiber-cement siding is a low-maintenance product made from sand, Portland cement, clay, and wood pulp fibers. It’s termite-proof, fire-resistant, and doesn’t rot.

Sustainability: Extremely durable and long-lasting, it’s available with low-maintenance finishes that last for decades. But fiber-cement carries high embedded energy—the energy necessary to fire the kilns that heat its raw materials. Any energy expended toward a material ads to its carbon footprint. The newest varieties are lighter and include more recycled material.

Energy efficiency: Negligible R-value, but its superior stability helps keep the building envelope free of cracks and caulk failures.

Cost: $5-$9 per sq. ft., installed
Wood

Unmatched beauty makes wood a premier choice for siding.

Sustainability: Although a precious natural resource, wood is a renewable product that can be recycled and readily degrades in landfills. To ensure the wood products you buy are harvested from sustainable, managed forests, look for certification stamps from the FSC (Forest Stewardship Council) and the SFI (Sustainable Forest Initiative). Wood siding is a high-maintenance siding that requires refinishing every two to five years.

Energy performance: Wood is a natural insulator, but as a siding it offers a minimal R-value of about R-1.

Cost: $6-$9 per sq. ft., installed
Stucco

Traditional stucco is made from sand and Portland cement mixed with water to make a workable plaster. Modern stucco often includes epoxies to harden the material. It’s tough, durable, and resistant to insects and fire. Well-maintained stucco will last for the life of the house.

Sustainability: Eco-friendly varieties of stucco are made with an earth-and-lime mixture instead of Portland cement and epoxy, reducing the embedded energy and CO2 emissions associated with cement production. Painted stucco requires periodic touch-ups and repainting every 5-7 years.

Energy performance: Negligible thermal performance, but effective at reducing air infiltration while remaining permeable to moisture vapor.

Cost: $6-$9 per sq. ft., installed
Engineered wood

Engineered wood products are made from wood fibers, resins, and wax. They’re pressed in molds to create panels resembling real wood lap siding and shingles.

Sustainability: The high wood waste content of engineered siding boosts its sustainability factor. Engineered siding comes with baked-on factory finishes that reduce maintenance, but warranties of about 20 years are less than for other types. It easily biodegrades in landfills.

Energy performance: Negligible

Cost: About $2-$4 per sq. ft., installed

John Riha has written six books on home improvement and hundreds of articles on home-related topics. Heís been a residential builder, the editorial director of the Black & Decker Home Improvement Library, and the executive editor of Better Homes and Gardens magazine. His standard 1968 suburban house has been an ongoing source of maintenance experience.

Read more: http://www.houselogic.com/articles/green-siding-options/#ixzz138KfnPC7

Happy Birthday, America!

2010-07-03T14:14:00.003-04:00

America. It's one of the only places in the world where we're expected to be accommodating. In any other country in the world, the visitors would be expected to know the language and be respectful of the mores and culture. It's exhausting- we welcome so much here but are expected to adapt, to be tolerant of everything.

Recently, John Stossel described what sets America apart from other countries and it struck me- one of the most outstanding things about being an American is that we keep trying. We embrace the entrepreneurial spirit. When it comes to being in real estate, this has never been more apparent than now. I get frustrated when people don't think we deserve to earn a living. That somehow, we should give our product away for cost or worse, for free.

I guess this means that too many folks of too many countries just sit back and let the government decide their fate in life. This reitorated an opinion I've had for quite some time after I watched a reality show. In this reality show there were two women compteting who were originally from Europe. What a couple of whiners!

Not all Americans are resilient, but for sure we preach that if at first you don't succeed, try try again, right? I don't know what they teach kids in Europe but it troubles me.

America may not be perfect, but it's a fantastic country and we have every right to be proud!

HOA Hullaballoo

2010-04-17T16:39:00.010-04:00

I am by no means an HOA expert but I think it’s fair to say that you give up some rights being part of a private club when you join. If the supreme court hasn’t outlawed HOAs by now, I’m thinking that we need to accept the differences between a lifestyle of a community with an HOA versus the lifestyle of a community without an HOA and move on.

Recently, I was unwillingly initiated into a fracas about a subdivision for which I was sitting in a model. This is not a subdivision I normally work- I am an alternate for the folks who normally work the area when they take time off.

As an economy just coming out of a recession, builders have taken a hit. I know that the public has a love/hate relationship with builders and I have discussed my displeasure before. When builders are purposely scam-artists, it doesn’t matter what business they are in- what defines them is the scam artist part. So to paint all builders as folks who are just trying to “get one over” on someone rubs me the wrong way, but I digress.

Case in point- builders are trying to remain competitive in a market that continues to struggle. Many people who are out shopping this very moment are likely doing so for the tax credit. New construction has a hard time competing in a market like this because, in general, you can get more square footage for the money on older homes.

So in trying to remain competitive, there is a certain builder/developer nearby who is altering the architecture of some townhomes to cut costs. What the homeowners must not understand is that it is within the builder’s right to do so (there was never anything in the covenants that said the builder would never change the architecture nor does he need to ask permission) and if it helps the builder STAY IN BUISNESS it would be wise to allow him to do so.

Yes, the value of your home probably went down within the last year or two. Yes, if you bought in 2008 or earlier, you stand the likely chance you paid more for your home than folks would for a similar piece of property today. Is that the builder’s fault? No. Myriad communities across the nation felt the hit. The worst, most would agree, Michigan, southern California, Florida, to name a few.

Some that fared better than others? I have heard great stories about places in Texas. North Carolina has always been in the middle. Although we lost a lot of industry to China like furniture and fabrics, we are still one of the most popular states in which to move. As of January, NC ranked only 37 in foreclosures. That continues to tell me that people can move here and stay here. On the other hand, our unemployment is a shocking 11.8% compared to 10.6% for the country overall.

My point in quoting these statistics is that North Carolina is doing pretty well but still hurting. I am curious to know what will happen once May arrives. Will we hear enough folks getting out and wanting to initiate a buy? If not, subdivision-livers are going to feel the hurt if their builders continue to go out of business and here’s why: If the builder has to leave because he is insolvent, the neighborhood will almost certainly fall fallow OR be bought out by a cheaper tract builder who will cut the prices in half. Either way, not good news for current homeowners in that unfinished subdivision.

So when I say that a little mêlée over architecture is ridiculous, I do not exaggerate.

I was approached the other day by a resident in this subdivision. Call it a PUD, call it what you will, there are mixed uses here- single family homes of different price points, townhomes, patio homes, and a lovely golf course in the center of it all. The resident who approached me told me that the HOA is upset because of the architecture change on the townhome starts. My knee-jerk reaction is that she should be happy her builder is actually building in this awful economy. But far be it for me to judge, I am just the lowly wife of a builder who is dangerously close to losing everything for which he’s worked for over 22 years in another town. What do I know…

She then went on to explain how they are tired of being told what they can and cannot change architecturally (for example, this particular neighborhood disallows decks) and that the final straw was something the developer/builder allowed a new homeowner (under contract) to add to their condo.

Here’s the thing: READ YOUR COVENANTS. If you don’t like the idea of not being allowed to build a deck at your own discretion, perhaps a restrictive neighborhood such as this one is not the right place for you. You must weigh your priorities. Is it more important for you to lounge around the 19th hole as you wait for your hubby to finish his round or is it more important for you to have a deck?

The HOA in the subdivision my husband builds in (or used to build in) was started because the city we live in required him to. It was not at his choosing and I assure you, if he had a choice, he would have chosen not to put in the retention pond which then required someone to maintain it (and it sure wasn’t going to be his company). We live in a watershed area which uses the runoff from lakes and streams as our drinking water and the local municipality has found that retention ponds limit the amount of oil and other contaminants from getting in.

Our covenants are simple- please take care of your property. Please don’t get farm animals, please mow your lawn. Please don’t go for days with toys and bikes strewn around your yard. Please take pride in where you live.

If you are the type of person that likes to start trouble and have drama in your life because you have nothing better to do with your time, I feel sorry for you. I know people like this and they desperately either need a hobby or they need to do some volunteer work to fill up their schedule. These people often do not have friends because A. They are either the type of person who thinks certain things are important that are not really important or B. They rant about stupid things so often, they alienate what few friends they have.

Don’t get me wrong, the one case that had an impact on me was a situation where some older folks lived in a “55 and older” community and if my memory serves me, the couple took custody of a grandchild. What to do? Yes, it’s unfair to the folks who purposely moved there to be away from snotty, noisy, messy kids. On the other hand, couldn’t an exception be made in this unusual case? Especially if the kid wasn’t terrorizing the neighborhood.

Bottom line is this: folks need to start reading this stuff more closely. Gone should be the days where we “just sign” where the closing attorney wants us to in order to move the day along. If you want ducks as pets, maybe you should live out in the country. If you want a deck on your house, maybe you should either build new in a place that allows decks or buy resale. If you want your mailbox to look exactly like everyone else’s mailbox at all costs, then indeed, a subdivision with strict protective covenants may be the place for you.

But if you want a golf community and you know you are trading that lifestyle for other things, suck it up. Oh, and by the way, faulty memory is no excuse. You can’t say “I wasn’t shown the covenants” (because you WERE) and just because you don’t remember them, doesn’t mean you are exempt from them.

The whining must stop and I am shocked that during this time of economic suffering in the United States, people have time for such trivial things. I guess it just goes to show you that indeed the recession is over.

Tax incentive deadline

2010-03-18T09:08:00.002-04:00

This is a great explanation of the tax incentive deadline. Things have picked up lately and I have come to the conclusion that things aren't going to be gangbusters like I had hoped they would.

I really envisioned that folks would get "recession weary" and after a year or so of saving and scrimping and scrimping and saving, they would say "OK, it's time to get off the fence and make a move. But I'm just not seeing it.

Jim Gillespie said something really great this past week when he visited the Coldwell Banker TRIAD awards ceremony. He said that this is the most fantastic time to buy for four reasons: IIIP.

First, the tax Incentive. Not only can first time homebuyers get a credit of $8000 but move-up buyers (if qualified) can get a credit of $6500. Theoretically, this is fantastic for those folks whose houses are being purchased by first-timers.

Second, Interest rates are at an all-time low and everyone predicts that they will begin to go up (probably after the tax credit expires).

Third, Inventory is abundant. Most folks should be able to find some fantastic homes in their price range and not have to "settle" like in the past.

Finally, Prices. Things are plateauing and ideally, the value of real estate will go back up. This is why buying is such a good investment (when done properly) because real estate values tend to increase (as opposed to cars whose values tend to go down).

As a buyer, if you are on the fence and you have good credit, take the leap! In many ways, this is a fantastic time to buy. And in many ways, I hope we NEVER see this extreme circumstance again!

YAY Andrews!

2010-02-13T17:23:00.003-05:00

I was sooo glad to hear the news about our neighborhood high school! Kudos to Carson Wofford for taking the leap!

Weatherization

2010-02-09T16:42:00.004-05:00

Steve, in the constant pursuit of bettering himself, is taking a class on weatherization next week.

This should help him learn more about retrofitting homes that are leaky and drafty. This is green for several reasons- one, it improves the energy efficiency of a home. When a home is energy efficient, it means LOWER UTILITY BILLS.

Also, when done correctly, it makes the home healthier. Some people say it’s possible to have a home that is too “tight.” Others say, if the airflow is controlled (the HVAC is sized as it should be, fresh air comes in through the handler instead of the electric sockets and stale air pushed out through the returns) and the system is maintained properly (air vent filters are changed regularly etc…) a tight home is the goal.

Either way, sealing up places where airflow wasn’t meant to exist improves your bills.

Communication

2010-01-20T16:27:00.004-05:00

It becomes more and more apparent to me how critical it is to communicate to one’s clients often and well. In fact, I would even go so far as to say that as a Realtor, you can even make all kinds of mistakes so long as you keep your clients abreast of the latest and greatest.

I am not perfect in this area but I am getting better. I always try to ask myself “who needs to know XYZ and when?” But more importantly, I try my best to give my clients updates, even when there is not much to say.

Recently, Steve and I have come to the realization that dropping the prices of our specs might be the only way to unload them. It breaks our hearts that after all our hard work, none of it will get rewarded. There are no winners in this game.

Some customers called Steve recently and talked about buying one of our specs. One thing led to another and Steve thought they were talking about one house when they were really talking about the other. Steve even tried to clarify with them which house they were talking about “The craftsman-style house, right? 3008 Quail Run Drive?”

They confirmed the address and style (the other one is a transitional style, VERY different) but it didn’t matter. The communications were still crossed and in the end, all parties were very disappointed.

Perception is reality and I guess in this latter case, someone can get so excited, it didn’t occur to them that not dotting an “i” or crossing a “t” could be such devastation. My husband builds such beautiful homes, it kills me that we were not savvy enough to see this economy coming. Next time, we will be prepared.

Goodbye 2009... and good riddance!

2009-12-31T17:48:00.003-05:00

Dear 2009,

I am writing to tell you goodbye.

It's not me, it's MOST DEFINITELY YOU! You have been very abusive to me
this last year and I want out of this relationship. None of my friends
like you and agree that the relationship needs to end.

I can't take the stress. All my money is gone, I am exhausted, and the
abuse you've doled out on me has taken its toll on my mind, body, and
soul.

Not to mention, I've met someone. His name is 2010 and he's been so
promising that I just can't pass up the possibilities that I've met my
soul mate. He's got such potential, and you've just proven to me that you
are sadistic and cruel.

So long 2009! Don't let the door hit you in the rear!

Sincerely,

Lisa

Recipes

2009-12-15T19:17:00.006-05:00

It’s occurred to me that being a Realtor is a lot like sharing your best recipe at the holidays.

Let’s face it, when you bring a dish to a Christmas party and someone actually likes it and they ask you for the recipe, aren’t you a tad disappointed? In some ways, it’s your baby. You want to make sure you get credit for the pleasure of eating the dish.

In some ways, you feel like “if someone else tastes this dish outside of my circle of friends, I wish they would know that I am the source.”

Not unlike being a Realtor. Sometimes, when folks ask you for advice, especially as a veteran to a newbie, you might not want to share your intimate “secrets.” You might not want to give a really good piece of advice for fear that you won’t get credit for it. Or the client, for that matter.

Of course, one of the most valuable pieces of Realtor real estate (pun intended?) is your sphere of influence. Let’s face it- if you know a lot of people and they respect you, your SOI works itself. The older you are, the more folks you probably know. Young realtors may struggle with this but older realtors (even if they’ve entered the business late) may not.

Yes, I recognize that if you work things by the book and you touch expireds and you touch FSBOs and call your SOI regularly and possibly even cold call and take advantage of call time, you are likely to build your client base.

What does this have to do with bean dip and pumpkin pie? Karma.

Sharing your secrets won’t break you. And as long as you are honest and still “got game” you should have nothing to worry about. Pass it along to the next generation to carry on or possibly improve and your place in history should be secure. Don't be so egotistical that it's all about you. Whatever the market will bear, I say.

Happy Holidays everyone! I will be 38 tomorrow and still feeling like a kid. ;)

Duke Brothers: Jamestown Christmas Parade

2009-12-08T13:51:00.000-05:00

Duke Brothers: Jamestown Christmas Parade

Jamestown Christmas Parade

2009-12-07T13:44:00.007-05:00

Duke Brothers was in the Jamestown Christmas Parade yesterday. It was about the fastest 3 hours of my life. Even though the waiting was a bit frustrating (maybe next year we won't get there so early) the actual moving through the line was quick.

I liked being in the back of Matt’s truck where no one could see me. Next year, we might try to find different candy. I am also looking for ideas to throw things that have our logo or website on it so folks can bring them home. The conclusion I came to this year was pens but we just didn’t have the money for them.

I like participating in local activities like this. This was especially neat because I don’t recall the last time I was in a parade except in NJ when my sister entered my nephew in their local Halloween parade. I was a clown throwing candy.

Subscribe please!

2009-12-04T16:00:00.004-05:00

I hate to say it but I am a tiny bit insulted when someone unsubscribes to my email blasts. As the recipient of many of these, I know why they unsubscribe, but many of the people who unsubscribe to them are the very people who would benefit from them.

Realtors, for example, keep unsubscribing themselves. I know, firsthand, the value of becoming familiar with as many homes on the market as possible. Most of the larger agencies have what they call “caravan” where, once a week, Realtors drive to colleagues’ listings to become familiar with those homes.

I did this at least once and then the following week had a prospect who was interested in the very listing I had just seen. I was able to speak to him about it knowledgeably and with confidence.

Not to mention networking. The power of networking is strong enough that I can confidently say that the perfect person for any job isn’t always the one who occupies it. But the person who occupies it usually knows people and he/she was top of mind when someone considered him/her for the job.Not to mention that ANYONE can benefit from networking, not just Realtors.

So when someone unsubscribes, particularly these agents, I am often surprised because they would benefit from knowing about my listings. Not to mention that if it’s a family member or friend who unsubscribes, they may not know anyone at the moment who is in the market for a listing of mine but you never know when someone will happen to tell you “we’re in the market!” and you can say “Hey, I know someone who has a house that matches the description of what you’re looking for!”

New tax incentive

2009-11-20T17:19:00.006-05:00

Traffic has been picking up at the ol' homestead lately. Theoretically, we are one step closer to an offer but it's so hard to keep wondering "when will it happen?" On the one hand, if it doesn’t happen for another six months, we’re in big trouble. On the other hand, winter tends to be a little slooooow for real estate shoppers and with the new tax incentive not expiring until April, folks may very well take their time this winter.

I feel we were meant to be here. As I have no doubt mentioned before, we have learned some hard lessons but every challenge points us in the direction that we were meant to be building and building some of the best green homes in the Triad.

It wasn't long ago that I learned that necessity is the mother of invention. If someone has been doing something like planting tobacco or harvesting sugar for their entire lives and then suddenly, they have realized that they need to get in a new line of business, I am a firm believer they need to change with the tide. In our case, I just feel that we need to shift our paradigm a little bit.

The Triad can't go with out all builders so why not rise to the top once the dust settles, if I may mix my cliches? :)

My husband is brilliant!

2009-09-28T12:09:00.002-04:00

I know for a fact that I have married one of the greatest guys on the planet. Some days are more mundane than others but my favorites are the days when Steve comes out with those zingers that reinforces why I married him.

I was philosophizing about our mishap with folks offering us way less on our homes than they are worth- I am not just talking about what WE think they are worth but even less than what the market is dictating right now, but I digress. Mentioning to him that perhaps we take these things too personally he said "you know what? That doesn't bother me. If we DIDN'T take it personally, that would be a sign we didn't care anymore and I love what I do."

Couldn't have said it better myself.

Insult to injury

2009-09-25T14:25:00.006-04:00

Picture, if you will, yourself as an artist. You create a masterpiece. You put money and time into a work of art and then, not only does someone come along, see your art, and urinate on it but they offer you less than what you paid for it.

I don’t know where realtors are getting their clients or where their clients are getting their pathetic information but it has GOT TO STOP! Maybe that insidious agent on the Today show, Barbara Corcoran. This is one of the best times to buy a home in nearly 100 years and still there are folks who are stupid enough to offer someone, in a relatively healthy part of the country, 20% less than the going rate of a home. It’s one thing if the home is not priced right. It’s another thing if it is and the buyers think they’ll take a chance.

There is not a one-size-fits-all approach to the market right now and buyers who think there is are either so egotistical they need to get over themselves or have the wrong agent.

What classes are these realtors taking? What jerk is teaching them that it’s OK to allow their clients to offer this outrageously small amount combined with thinking they are irrefutably right? OR what realtor is taking a class to make the listing agent feel like a jerk for not accepting the offer? That latter tact is getting pretty old.

Granted, as Realtors, we are required to carry out any legal action our clients want us to. We can try to talk them out of GOUGING the seller or buyer but ultimately, if our clients are determined to be a jerk, we have to represent them. However, I get the feeling that someone is feeding them this information.

Logic #1 making the seller mad (if the seller is a human being versus a bank) is not the best idea. You want to humanize the buyer and if you ask for too much on the front end, the seller won’t be very amiable to help you out on the backend (e.g. repairs).

Logic #2 putting a builder out of business AFFECTS THE BUYER. How? You may not give a damn if the builder goes out of business but his livelihood affects you if you move into the neighborhood he’s trying to build in. Especially in this economy, the likelihood of someone wanting to buy the land is slim. And, even if they do, it will be a cheaper, crappier, builder. I know of a perfect example down the street from us. Try me.

Logic #3 if you gouge the value of the home you are buying, you are decreasing the property value of the neighborhood you live in and ultimately, doing yourself a disservice.

Logic #4 Have I mentioned this is one of the best times to buy in a century? Don’t make me quote you statistics on how North Carolina is fairing far greater than places like PENNSYLVANIA, for example, and that prices here are about as low as they are going to go barring something catastrophic like a terrorist attack. Go ahead and try to gouge someone but don’t be a cry baby when the seller doesn’t want to play your pathetic game. If you want someone to “work” with you, you’d better be willing to “work” as well.

Should the seller take it personally, no. But nor should the buyer be a jerk when the seller won’t/can’t play his game. It’s called a seller net sheet, people, not all sellers are sitting on a gold mine, waiting to make a killing on your offer.

Widget

2009-09-09T10:45:00.001-04:00

Hoppin' mad!

2009-06-22T08:05:00.004-04:00

I was Googling some ideas for creative incentives during this crazy time in real estate and I stumbled upon an article in the San Francisco Chronicle, written just this past February, that made me very angry.

The article was actually about "stimulus" money incentives that were or were not distributed to the real estate sector. An economy "expert" was interviewed and here is the segment that bothered me:

Chris Thornberg, economist with Los Angeles research firm Beacon Economics, said the stimulus package is necessary to help revive the economy, but that the home building industry doesn't require or deserve any special consideration.

"The housing industry broke first, but it was only a symptom of the underlying problem in the U.S. economy ... a 12-year spending binge based on overinflated values of our homes," he said.

I am not an economist myself but I am SHOCKED that an "economist" would not acknowledge the concept of supply and demand. If supply is low and demand is high, it's not the builders who set the price, it's not the car dealers who set the price, it's not the flat-screen TV makers who set the price. The market sets the price.

Let's say Mr. Thornberg sells candy bars. Let's pretend it costs him 5 cents to make and wrap the candy bar but that there has developed a sudden demand for candy bars because Barney Frank says that folks who haven't been able to afford $2 candy bars in the past deserve to be candy bar eaters.

Let's also say that in places like Atlanta, people can't get enough of the candy bars and that folks who previously could afford the $2 candy bars are now demanding $5 candy bars because they are in a bidding war with other folks and the price has skyrocketed. Is that Mr. Thornberg's fault? Should Mr. Thornberg start making candy bars faster and faster and more sloppily and at the original $2 price just because some sociallist thinks that's the right thing to do?

I say that if the public is willing to pay, there is nothing wrong with making a profit. It is not the builders', entrepreurs', or widget-makers' fault that the public was willing to pay more for real estate in 2005 and that the bubble burst.

Shame on you, Mr. Thornberg, for implying that builders had some kind of control of the current recession that they don't deserve help. My husband is an honest, hard-working, builder and has been in business for more than 20 years and it is mentality like yours that make people think that he was price gouging the public.

If you only knew. My husband can name you at least a half dozen "customers" who have taken advantage of the kindness of him and his dad over the years. Don't tell me they don't deserve help.

Edited to read: This is a great quote from Atlas Shrugged-

"Do I wish to sell my product for less than my customers are willing to pay me? I do not. Do I wish to sell it at a loss or give it away? I do not. If this is evil, do what you please about me, according to whatever standards you hold. These are mine. I am earning my own living, as every honest man must. I refuse to accept as guilt the fact that I am able to do it and do it well. I refuse to accept as guilt the fact that I am able to do it better than most people - the fact that my work is of greater value than the work of my neighbors and that more men are willing to pay me. I refuse to apologize for my ability - I refuse to apologize for my success - I refuse to apologize for my money."

Green Sweepstakes

2009-05-07T20:46:00.001-04:00

In the interest of survival, I am entering sweepstakes and stumbled upon this one. Enter to win!

"Throughout the month of May, I will be hosting a giveaway to reward my regular readers and those who are active on my site. Similar to the February giveaway, the winner of this giveaway will a gift certificate to your favorite green store. This time it will be $50 either in the form of a gift certificate or as cash, to spend the money at a local green store."

What's the worst that can happen?

2009-03-22T20:58:00.002-04:00

It always strikes me funny that folks are so tentative when they talk to real estate agents. Perhaps many people think that if they reveal what they can or cannot afford, they'll be embarrassed. On the other hand, I wonder what's the worst that can happen?

I imagine a real estate agent brainwashing someone into buying a house and then, six months later, someone realizes they hadn't intended on buying the house they are in at all!

In reality, what happens is we get your name, maybe follow up. If you can't afford the house you were inquiring about or you're just not interested... TELL THE LADY! It's OK. You're not going to hurt our feelings. We're not going to put you on a spam list where you get junk mail for the rest of your life.

I think one of the hardest things to deal with regarding the increase in email, blackberries and Facebook is that people aren't as personalized anymore. We have now been trained to use and discard more than ever. Few people have the personal skills to handle being direct and honest anymore. We feel we have to dodge, evade, and hit-and-run.

The economy is alive and well...

2009-03-13T12:23:00.003-04:00

Yet more proof that the economy is doing just fine. Don't even think about considering a depression when folks have enough time on their hands to consider suing someone over a logo that doesn't even remotely look like another logo! My favorite part is when the guy tries to describe why the "h" looks like an "m."

This makes my blood boil! First of all, part of the reason someone would sue someone else over something like this is that someone would risk confusing the second logo for the first one. Has anyone ever heard of Rehava? I guess because the logos ~~LOOK~~ ~~NOTHING LIKE EACH OTHER~~ are so silmilar that is what the LAWYERS fear is "Rehava" getting so popular and some dim wit actually believing they were going to Remax when they were entering the Rehava office.

Coldwell gets folks all the time calling us about Prudential agents. I guess because our signs are both blue and white. If things were headed for a depression like the gloom-and-doomers want you to think, things like this wouldn't be happeing. That lawyer would be building a fallout shelter right now and hoarding food.

Oy vey!

In response...

2009-02-09T16:55:00.002-05:00

In response to an interesting "article" written by a blogger about Realogy, the CEO of Realogy Franchise Group had this to say to our fold:

During the past several years Realogy has moved aggressively to mitigate the impact of the economy on our company. We have successfully reduced our overhead by more than $350 million and continue to focus on maximizing the effectiveness of our cost structure.
As we have focused on costs we have been equally focused on growth. In spite of the woes of the housing market we have made great progress in advancing our company. From franchise sales to the retention of the top-tier sales associates to signing new clients at Cartus and Title Resource Group, we continue to be forward thinking, highly focused on the future of our company and the industry.
In 2009, we expect to benefit from considerably lower interest rates since a significant portion of our bank debt is tied to LIBOR;
None of our corporate debt is due until at least 2013; and
Unlike many companies in today’s economy, we have the support and commitment of one of the best financed private equity firms in the country, Apollo Management.

Too bad both of the sides of the story couldn't be shared. Just goes to show you that you need to do your own homework- can't believe everything you read, including this!

The Big Energy Gamble

2009-01-23T10:36:00.003-05:00

So, Steve and I were watching WUNC-TV the other night and they had a program on called The Big Energy Gamble. It was about California and how the governator has high hopes for energy efficiency. His plans are ambitious and many are skeptical about the ability for the public to achieve his goals in the near future.

I thought it was particularly interesting that Steve is proposing to do exactly what the show said: that sealing outlets, installing more or better insulation, and replacing dead bu lbs with CFLs will make easy, inexpensive, and marked differences for most than doing more extreme things like solar panels and turbines.

Steve's plans are to be able to evaluate someone's house, make the improvements where they need to be made, and then get an energy rating for the house so someone can say "My house is Energy Star Rated and here is my HERS number."

Irrational Anxiety

2008-12-17T16:01:00.003-05:00

I am a new fan of Will Wilkinson! I heard a fantastic commentary on Marketplace this morning on WFDD and I would love to share it with you. Here's the origin if you prefer to read it that way:

"Penny-pinching is a time-honored recession tradition. For those who've lost a job, are dealing with reduced hours or wages, or face a real risk of economic pain, it's plain sense to do what it takes to make ends meet in lean times. Cancel Showtime, pile on the sweaters, go unto the checkout armed with coupons. When you have to do it, belt-tightening's no joke.

But, gladly, most Americans don't have to -- not even in this economy. Most of us won't lose our jobs, won't face a pay cut. Yet we tighten anyway. Dollar-stretching tips circulate even among the most comfortable. But if your paycheck's intact and you're still cutting back, you may be part of the problem.

When home values surge, we tend to feel richer and spend a bit more, even if we don't plan to sell the house. Economists call this "the wealth effect," and it's got a recessionary flip side. So when our 401(k)s dive as the economy hits a rough patch, we feel a bit of a pinch and rein in consumption -- even when our incomes and the long-term value of our investments hasn't changed a bit. In short, we don't always look to our personal financial fundamentals when choosing whether to splurge or scrimp.

But just as "irrational exuberance" can keep a speculative bubble afloat, equally irrational anxiety, and the ethos of austerity it produces, can trap us in the doldrums. So maybe you went a bit crazy during the boom, and now's the time to return to financial sanity. Good! But if you were living comfortably and responsibly within your means last year, you probably don't need to cut back now.

Of course, none of us is duty-bound to stimulate the economy by snapping up 50-inch plasma screens just because we can afford it. But if you're blessed with good fortune in these hard times, you're not helping anyone if you let frugality chic stop you and yours from having a very Merry Christmas indeed."

Eco-brokerage

2008-12-16T20:43:00.005-05:00

So I have officially received my Eco-broker designation and what a relief! Thank goodness for call-time confining me to a chair for a couple hours since no one is calling, goodness knows. But every time I was at home, I either wanted to help Steve with something or hang out with him during off hours.

I LOVE this stuff! It is soooo interesting to me and I am shocked when I see other Realtors look at me with blank stares when I talk about it. Soon enough, a lot of the standards that are placed on homes that are Energy Star rated or NAHB Green will be code. To be on that leading edge of technology when someone asks me the question is exciting.

Today, I met with a networking group through Natural Triad and was re-aquainted with a Realtor from Leap Realty in Winston. How incredibly impressive Sarah Olson is and what she has managed to accomplish thus far.

I will be teaching a green building class to other Realtors in the spring at Guilford Technical Community College and Steve will have the first Green Built home (as certified by the NAHB) in High Point by January, 2009. I feel good.

Expenses

2008-11-10T11:34:00.003-05:00

I recently taught a seminar on the types of expenses to expect in a standard real estate transaction PLUS some that are not so standard but common enough to mention. I really enjoyed it and was glad to field questions confidently from the crowd.

What's pretty important is that you save up a little more money than you think you'll need. You never know when you may need to split the cost of a water heater or something similar to make the deal happen.

I once represented a woman who was buying her second home. Her first home was finnanced FHA so the seller paid 3% of her closing costs (one of the stiputlations of an FHA) so when she was financing conventionally this time, she was flabbergasted at her closings costs. She put 5% down on a home and was not only shocked by the downpayment but was shocked by the rest of the closing costs.

Sometimes, as Realtors, we don't necessarily know the questions to ask. In this case, this was a person who had closed on a home in the past and she should have received a good-faith estimate this time from her lender so she wasn't warned.

Like the boy scouts say, be prepared!

Realty basics?

2008-11-02T19:03:00.006-05:00

To some, this may seem like a basic topic but it has come up quite a bit lately so I thought I'd address it... what the heck do Realtors do?

I had a client who said to me one time that they were annoyed that another Realtor (she went with me after she was so displeased with this other Realtor's performance) not only wanted my client to do most of her own searching online but also told her that if she didn't choose the particular house she was showing her, she'd regret it.

In general, Realtors are conduits to the closing. We are expected to be Jacks of all Trades but Masters of None. What this means is that we know enough about a bunch of subjects to direct our clients toward the experts. We're almost like consultants.

Why not go direcly to the source, you say? What are the chances you, as a buyer, know an expert negotiation specialist, a certified inspector, a real estate attorney, a radon mitigation specialist, an electrician, a plumber, an environmental hazard expert, a mortgage broker, a certified appraiser, an insurance salesman, a professional suveyor, etc etc... ALL? You get my point.

So let's pretend you know all these people. Unless you invest in homes for a living, the chances of you needing these people on a regular basis is slim. A Realtor, on the other hand, does this for a living. It is our job to know all these people and to know enough about the subject matter to direct you to the experts who do know.

A Realtor is supposed to do anything you want them to that's legal. If you want to ask the seller to stand on thier head and spit nickels, however unreasonable, your Realtor should be there to ask. They may advise you against it and try to talk you out of it but legally they should do it.

As an aside, why do Realtors get paid the way they do? Frankly, this is SUCH a litigious business, we need to be paid by comission. In light of all the craziness on Wall Street lately with AIG and Barney Frank, I wish more professions earned thier livings by comission. If we were paid by salary, we'd probably have an even lazier reputation than we already have.

An open letter to potential buyers

2008-10-24T07:46:00.004-04:00

“If it bleeds, it leads…”

I am sure you’ve heard this expression before but if not, it is a turn of phrase the media supposedly uses for prioritizing their stories on the front of the newspaper, opening a news program on TV, or radio shows. The more “profound” the story is and the closer to home it hits, the higher up on the priority chain the story is ranked.

I wish I could tell you that the sub-prime lending stories are exaggerated and that this all isn’t really happening. However, what I can tell you is that banks have money to lend.

During the 10-day sales event, many people came to see Coldwell Banker homes but many of them also seemed nervous that they wouldn’t be able to afford the homes or that banks would not lend them the money- that banks have stopped lending money. This simply is not true.

Our own, in-house lender with Coldwell Banker Mortgage, Fred McFalls, confirmed there’s money to lend to people with good credit. Naturally, they’re not giving it away like they were 3 years ago but we don’t want that.

Even better news is that this is a buyer’s market. Considering how well North Carolina is fairing in this crazy market (and I assure you, we are doing a heck of a lot better than other states) prices and interest rates are probably about as low as they’re going to go. If we can get people off the fence who are considering buying, we can move the NC real estate market in an even better direction.

Lisa

I can't stress this enough- GET PRE-APPROVED!

2008-10-07T10:25:00.007-04:00

Now more than ever, it is important, as a buyer, to get yourselves pre-approved. This is not the same as pre-qualified where you tell a mortgage broker what you make and what your debts are and he tells you what caliber home you can shop in. You must show your mortgage broker certain paperwork- paystubs, W2s and tax returns- to prove you make what you say you make and what your other debts are (car, credit cards, alimony, etc...).

In light of what has been happening in the last month, as far as I'm concerned, there should be no buyer out there right now who is walking the streets without some sort of letter from their lender saying they are APPROVED for $XXX,XXX.

Insofar as this is a buyers market, that doesn't mean you can come to the negotiating table and make the seller do all the work. Hardy sellers are just as scared of you not being able to consummate the offer as you may be of getting a good deal on a home and affording it.

Save some money for a decent downpayment. Avoid PMI if you can. Maybe forego the Starbucks everyday. Be prepared to bring some money to the closing table, despite the fact that you've asked the seller for expenses- be prepared that the seller may not want to pay your way!

People- karma is a tough-cookie. If you are nice to the seller, the seller will generally be nice to you. I can say the following because I am in my mid-30s: young people- get a grip on reality! Do you realize that there was a time where interest rates were in the teens? Those of us born in the early 70s and maybe even the late 60s have no concept of this! We bought our first homes when interest rates dropped to 5-6%!

A person can go a long way with some charm and sensibility. If you get pre-approved, you look waaaay more appealing to your sellers and they will be confident they won't get the run-around during the closing process.

New adventures...

2008-08-23T21:24:00.007-04:00

So my new adventures in realty have been interesting. I almost feel like I have had a taste of everything. My first close went relatively smoothly but has taught me a lesson about lazy Realtors- you have to make up for their shortcomings.

Then my second closing, my clients made an offer on a home that was later vandalized. Needless to say, it "wasn't the same house" it was when they made the offer and they backed out. They closed on a totally different house.

On Monday I will be helping another first-time homebuyer into a home which the VA has financed. She is a dream for them- great credit and financially sensible. I just wish the financial dudes had been more smooth with the approval.

Foreclosures after foreclosures- especially in the low $100s. The very people who were talked into getting a loan (and may not have considered it until all the hype of 2005/2006) and now all these complicated deals.

As a result, those of us who are building homes in the $300s and $400s are getting the shaft since there are so few homebuyers in this price point. Soon enough, the election will be overwith and things will be back to normal in 2009... hopefully!

Extreme real estate

2008-07-22T20:41:00.005-04:00

When going through real estate school, I'd heard some really crazy stories. You want to remember these stories because you don't want to make the same mistakes some of these folks made.

Oftentimes, mistakes are made because of a reliance on statistics. You say to yourself "chances are, such-and-such is not going to happen so I'm going to err on the side of cheapness..." For example, I recently had a client for whom I was trying to save a buck and get the survey from the most recent owner.

Since the listing agent was on vacation, I was unable to obtain such a beast. With less than 48 hours left before closing, I was able to find a good surveyor, get the place surveyed, and feel comfortable with the situation.

Believe me, I wanted to save my client money figuring there would be no problem with the property but sometimes, you just can't take the chance.

I have another client who made an offer on a property that ended up being vandalized last week. It sickens me that there are kids out there who think this is funny but my clients lost interest. I've heard stories about such things but here was my chance to experience it first hand.

I don't wish this on anyone but sometimes, you have to experience the bad stuff in order to be a more efficient Realtor.

Green Building

2008-06-30T17:05:00.005-04:00

Our green building open houses were successful! Not long ago, we were certified as an Energy Star Partner. Our market home, 3008 Quail Run Drive, tested over 30% more energy efficient than the average home.

What is Energy Star? You may have heard the name when shopping for appliances for your kitchen. Dishwashers, fridges, and clothes washers are just some of the products on which you’ve probably seen the ES logo.

There are so many ways in which someone can go green in their house. The easiest way, and possibly the cheapest, is the change light bulbs to the new fluorescent. Some of the ways Duke Brothers chose to make the house green is: using a tankless water heater, dual flush toilets, hybrid heating system, higher R-value insulation in exterior walls & ceiling, sealed crawlspace, low-emissions windows, and the use of joists & truss systems for less lumber usage.

Other ways to go green are using solar, wind turbines, concrete masonry framing, rain & grey water reclamation systems, or geothermal heating.

Some people might argue that energy savings and green are not the same thing but I say that anything that prompts someone to use less energy (whether it’s gas or electric) is helping not only their pocketbook, but the environment.

More good news…

2008-02-26T16:15:00.010-05:00

North Carolina is looking more and more appealing. As a North Carolinian am I biased? Sure. But you can’t argue with these statistics RealtyTrac released today. North Carolina ranks 25^th in the country in foreclosures.

This can be seen several different ways since the population of NC grew between 2006 and 2007 2.2%. The good news is that it’s not like people are moving into the state and foreclosing. Nevada was the fastest growing state with a rate of 2.9% and also the #1 state in foreclosures. Something to think about.

I translate this into a situation where we are not only increasing our population but they are buying affordable housing and they haven’t overextended themselves.

"The Market"

2008-02-06T14:27:00.000-05:00

I am so glad that our local association stepped up to the plate to confirm exactly what I have been thinking- the market here in High Point isn't that bad!

Yes, things have been slow but I think folks have just been holding back because of what the national media has been spewing. What they rarely, if ever, seem to caveat is that real estate is local and what is happening in Miami and San Francisco and Michigan is not necessarily happening elsewhere.

In any event, I am confident that people will soon wakeup from this haze, take advantage of the fantastic interest rates & the buyers’ market, and start buying like hotcakes. Don’t let the media fool you, folks. Do your research, avoid silly loans, and make one of the best real estate moves you’ll make in years to come.

Can you say equity?

What a wild ride it's been!

2008-01-13T15:15:00.000-05:00

Talk about a let down in Autumn! Business is going well and then all of a sudden, the media starts talking about a downturn in the housing market. North Carolina just isn't the same animal and, although, things have indeed slowed down in the past 3-4 months, I feel confident that local buyers will pick right back where they left off- with gangbusters! After all, it's not the out-of-staters we're worried about.

Just heard on the news this weekend that North Carolina is #1 in the nation for people moving in from another state. And we're #5 for overall population growth! I am from New Jersey myself and I can say without any bias that NC is a great state in which to live.

We also have the fortune of receiving a lot of halfbacks. Apparently, this is a new term, which I suppose will catch on soon. There is a large influx of folks from New York and New Jersey who move to Florida to retire. Soon after they move there, they find they hate it (the climate, mostly) and move "halfway back" to places like North Carolina.

After all, this state is an awesome place to play golf- even here in the Triad! The climate is great, the population density is tolerable, necessities (shopping, healthcare, education) here in High Point are close by and yet there is still a feel here of open spaces and relaxation (especially in Quail Run).

Building a home

2007-06-13T13:40:00.000-04:00

One of the first things you probably say to yourself when you begin exploring home options is “how much home can I afford?” You should know your buying power before looking but you may not know how much home that can buy. When exploring these options, you must also ask yourself “what is more important- budget, customization, or delivery date?”

Case in point: some people try to compare Duke Brothers to tract builders which is impossible to do. Duke Brothers build a custom home. Although tract builders have some nice selections and upgrades for their homes, you do not have “free reign” to upgrade just any fixture. For example, if you’d like an environmentally-friendly, sealed crawlspace, a tract builder is not going to be able to offer you that type of selection.

• When you’ve decided on a contractor to build your home, you should be looking for experience, licensure, knowledge, and quality. If you decide on Duke Brothers, you may pick from a selection of our suggested home plans on our website, DukeBrothers.com, or you can find some yourself on an array of different sites including eplans.com, houseplans.com, or builderhouseplans.com

• If you find something you like, we’ll look at it to evaluate several things- first, we’ll need to make sure the look of the façade is compatible with the feel of the neighborhood (if you have your own land, this may not be an issue). Second, we’ll need to make sure the house fits on the lot. This often becomes an issue when someone wants a one-level home because the footprint is so large. (A one-level home is also more expensive to build due to the fact that the footprint tends to be larger. If the footprint is larger, more roof and foundation is required. So, for example, it is more expensive to build a one-level home whose heated square footage measures 2500 versus a two-level home whose heated square footage measures 2500).

• If the house looks appropriate and fits the lot, some other things Duke Brothers will need to consider is detail. There may be items on the plan that will be difficult to replicate or some leeway will need to be given for us to modify the plans. Also, some detail is either difficult to see on the small initial plans or not present until the construction sets are ordered (which are expensive). As a result, once you get serious about a particular floor plan, you will need to understand that we will not likely be able to build you an exact replica of what the plan designer proposes.

• When you have narrowed down your search for homes, Duke Brothers can produce a quick “ballpark” range to you on how much we think it will cost to build that particular home. We do not have a square footage price to give you since this is not the way we do business. Again, every house is unique and quoting a square footage price for two homes like the example above would not square.

• If a particular floor plan is in your budget based on our ballpark quote, and you decide you’ve found the right one, we can do a detailed quote for you to more accurately determine for what price we can build you a home. There is a small fee for this service which will be applied to the cost of your home if you decide to sign a contract with us.

• At this time, we would also like you to share with us as many “bells and whistles” you’d like in your home as you can. This list tends to change and evolve but Duke Brothers operates best if we know up front as many things about the way you’d like to customize your plan as possible.

For example, if you’d like a special tub for your master bathroom, we would need the specifications of the tub even before construction commences as well as possibly incorporating any added expense of a tub into the estimate. This way, you can avoid added expense, surprises, and delay of your delivery date with a change order.

•Once a detailed quote is agreed upon, we will issue you a finish schedule. This is not a “schedule” in the respect that there are hard and fast deadlines to meet. It is more of a projection on what to expect with the types of finishes we offer. At this time, you will need to provide us with further upgrades and customization requests. Again, these things tend to change so if you have any future changes, we can incorporate those into a change order for a fee, but the finish schedule allows us to be as prepared as possible for the beginning of constructing your home.

Finally, when everyone is singing form the same sheet of music, we can offer a contract to you, hopefully incorporate any extras into the contract price, and project a date of delivery. Each change order after the signing of the contract will not only cost 100% of the change up front, but there will be a fee applied to the change order.

2007-06-12T09:11:00.000-04:00

When building a new home anywhere, it is important to keep in mind that the rules are different in each state. For example, we are working with a homeowner right now who says that solid surface is very popular in the area of California she lived in for use in bathrooms as well as kitchens.

In this part of North Carolina, it is not the same. Folks feel that granite in the kitchen is the way to go and many builders use cultured marble in our bathrooms. The same can go for the building process.

We have seen nightmare stories on shows like Dateline that talk about homeowners who have been hijacked- the builder gives you an estimate to build and you get the construction loan and he continually asks you for more and more money.

Duke Brothers doesn’t work that way. That’s not to say that some builders aren’t ethical. I am sure there are some ne'er-do-wells out there who figure out a way to gouge the customer even with that type of loan.

Duke Brothers get the construction loan based on an appraisal the bank obtains. This keeps us to a certain budget so that we make some money. Naturally, if the homeowner wants some extras that were not included in the original estimate, those can be paid for outside of the loan.

Budgets and plans

2007-05-10T15:50:00.000-04:00

I don’t know how other builders work, but I would imagine if a builder tells you that he can build you a particular home for $X, that means that the floorplan has been reviewed by both parties and both the builder and the buyer have a pretty accurate idea that the money being put up is for a specific product. You wouldn’t go into Starbucks and ask for a cup of coffee, get charged $1.50, and THEN ask if you can put a flavor shot in there and not get charged extra. Nor should you expect that the time it takes to put the flavor shot in would take the same exact amount of time as just the pouring of the coffee.

When you sign a contract with a builder, I would imagine most builders issue a contract with the understanding that you are not only securing them as builders and possibly the lot they are building on (assuming you do not own the lot already yourself) but you are agreeing to a product. You have discussed the floorplan, you have talked about any bells and whistles you would like for your custom home (stuff that does not appear on the floorplan) and you have arrived at a meeting of the minds.

You will not be doing yourself any favors if you fib about your budget. That’s not to say that your life-savings is up for grabs. However, if you tell your builder you can only afford $200,000, then they will try to squeeze you in to a certain size home with a certain level of amenities. On the other hand, it is perfectly understandable if you can afford a certain mortgage but choose not to max yourself out. The point is that people always want more than their “budget” allows and a builder cannot fit a square peg in a round hole.

Wowza, Readers Digest!

2007-02-06T14:57:00.000-05:00

A scathing article in February’s Readers’ Digest about the NAR and REALTORS^® in general when it comes to “discount” brokers and how they are treated by other REALTORS^®.

Frankly, I am torn. Not about blacklisting, mind you. I can’t image myself blacklisting someone just because they choose to operate a discount brokerage. I am torn about the concept of discount brokerage. If someone truly is in a pickle and can’t afford to pay a full commission because they don’t have enough equity in their home, or they are experienced to the point that they sell at least one property a year and are well-versed enough in the transaction process that it’s old hat, I can totally understand why they’d want to use a discount brokerage. Change is inevitable and if the public demands it, Realty will evolve with the times.

However, there are at least two reasons to use a full-commission brokerage- #1 Even if you have bought and sold real estate in the past, the average person does not do it often enough to be an expert and could stand to use a good REALTOR^® to hold your hand through a complicated process. #2 The real estate rules change every year, and every year the contracts and regulations are modified to the point that even REALTORS^® sometimes have a hard time keeping up with them, let alone a member of the general public.

The NAR response to the article? “As everyone who has bought or sold a home knows, real estate brokerage is fiercely competitive. Consumers can choose from more than 1.3 million REALTORS® today, including those who work for discount, limited service, or minimal service brokerages. In fact, about one out of every eight members of NAR work for these kinds of firms.

“NAR’s policies foster the interests of all REALTORS® and real estate consumers. We support all business models and favor none.”

Schools

2006-11-14T15:05:00.000-05:00

I am often surprised when someone brings up the school system in our district. More and more people are investing in private schooling for their children rather than government schools. However, now more than ever, it is important for parents to invest in their children.

You get out of it what you put into it. It cannot be stressed enough that getting involved in your child's education, in particular the PTA, can make all the difference. Here is a website that might aid in getting involved. Andrews has been in the news frequently about the caliber of its bands, choruses, debate teams, and AP classes. Stay abreast on the Andrews website as well as the local paper, the High Point Enterprise.

It’s not easy when a Realtor must try to remain unbiased when educating her customers and clients about public schools. However, here are some things to consider when looking at a location for your new home:

Reputations, good and bad, are often exaggerated. However, If you have time, like Steve and I, where your young ones aren’t of school-age or you don’t have a family yet, keep in mind that much can change over the course of a few years. Not only can your district change in this volatile, political environment, but the school itself can also get better or worse.

That being said, there are alternatives offered in Guilford County for government schools that just aren’t cutting the mustard. If your elementary school has not made its AYP for 2 years in a row or more, the system offers two alternative schools at the beginning of the school year. The only “issue” with this is that the alternatives are not revealed until later in the summer, I believe. You are also able to write a letter to your school board requesting a reassignment for your middle or high school. Check with them to confirm this information and find out the specifics: 336-370-8100.

Another worthy alternative is charter school, Phoenix Academy. So very close to our neighborhood, I hear many good things about its academics but don’t forget to do your homework on them. Since their admission is done by lottery (if I am not mistaken) some people claim it is difficult to get in. However, I have several friends who were able to enroll their children with no problem. http://www.pahp.com/

Now that I have talked about how overrated reputations can be, some private schools, locally, that have great reputations are below. Some of you may consider the fact you are going back to work after having children, and you may have placed your child in day care. The costs of some of these private schools are not much different.

High Point Friends
High Point Christian Academy
Immaculate Heart of Mary
The Piedmont School
Tri City Adventist Junior Academy
Wesleyan Christian Academy
Westchester Country Day

Keep in mind, too, the above private schools are a small sampling of those in High Point. There are myriad other private schools in the surrounding areas.

Also check out:

Public Schools Report
Great Schools
NC School Report Cards
NC Association of Independent Schools
NC Directory of Non-Public Schools

Give your child the gift of the best possible education that fits your situation. Invest in your child’s future.

Educate yourself about new construction...

2006-10-19T12:03:00.000-04:00

I know, I know, it’s a buyer’s market right now. However, that doesn’t make it any less challenging when someone makes an offer on one of our homes and they basically ask that we give it to them for cost. First, it is not common to have to negotiate on a newly constructed home. I’m not saying it doesn’t happen, but new construction “negotiation” just doesn’t function the same way as a used home.

One buyer couldn’t afford what we were offering. Instead of looking in a lower price bracket, he decided to offer us $25,000 less than our listing price. As flattered as we were that he loved our home, we just weren’t willing to drop our price that much. The poor guy could only get a loan for $300,000 and I think he was attempting to get a $50,000 unsecured loan but that still didn’t raise his offer to the place where we were willing to go.

Unfortunately, it is yet another situation where someone has made the grave mistake of looking in a bracket that gets their hopes up and they are dashed because they either don’t do their homework or, for some reason, they are willing to max out their buying power. Folks, risking foreclosure is not worth it!

Another offer we received recently asked us to finish one of our basements for free. Part of the reason why we don’t finish basements anymore is how expensive it is. The Realtor^® was apparently unaware of the expense and even asked why we would use drywall for the ceiling instead of a drop-ceiling.

I understand why she would think that the latter would be less expensive but the labor would be just as much, if not more than drywall and the materials may cost less but not by much. She was also anticipating a plumbing problem which I think is a poor way of buying a home. Why would one buy a home assuming that something would go wrong? If that is the case, you would probably not put any drywall up at all and all your walls and ceilings would be accessible to plumbing and electrical.

In the end, the Realtor^® was asking that we cut into a huge portion of any profit we might make, use that profit to finish a basement, create a house that now has 4683 heated square feet instead of the current 3052, and make our price per square foot $81!

I know it is difficult to hear the word “profit” bandied about but we have to put food on our tables too.

Everyone Loves a Parade...

2006-09-28T15:40:00.000-04:00

Each autumn, High Point holds its annual Parade of Homes and, usually, Duke Brothers participates. Personally, I am very proud of our entry this year but I acknowledge the competition is strong.

If you haven’t seen our home at 2513 Duke’s Hollow Court, please join us October 7&8 or 14&15. Also, check out our website for details. www.DukeBrothers.com

Covenants and HOAs

2006-09-19T13:12:00.000-04:00

For whatever reason, one of the most contentious factors in residing in an organized neighborhood seems to be the covenants. Some covenants are strict. For example, some neighborhood covenants require you to have the same mailbox as everybody else.

Quail Run’s, on the other hand, mostly just wants you to take some pride in your surroundings and ask, for instance, that you not have junk cars on your property, not to own livestock as pets, and not to leave your RV in your driveway.

When we began developing “The Estates,” the City required us to create detention ponds for the new section. As a result, we also had to create a homeowners association whose money would go toward maintaining the ponds. This HOA was incorporated into the covenants of the new section of the neighborhood and therefore anyone who closes on a Duke Brothers home would get a copy of the covenants.

Any real estate agent and attorney worth their salt should ask about and discover this information before or during a transaction. The HOA fee should be paid at closing and the covenants should certainly be received before hand.

These days, one should presume, moving into an organized neighborhood (as opposed to a house that dwells on a busy road or out in the country) that there will indeed be an HOA.

If one of your requirements upon moving to a new home is that there is not an HOA, tell your REALTOR^® about this. If you are not represented by a REALTOR^® when buying new construction, ask the builder and, by all means, remind your attorney. Getting familiar with the covenants of a neighborhood BEFORE you move in makes it clear whether your lifestyle is compatible with that neighborhood.

North Carolina- Awesome real estate value for the dollar

2006-09-14T12:32:00.000-04:00

A new article in the Tar Heel REALTOR publication that we real estate types receive talks about how different NC seems to be from the rest of the country. Luckily, this is a positive thing.

When the “bubble” was at its apex only a year or two ago, I was a bit dismayed that the Triad was not involved at first. It was a sellers market and, frankly, it would have been nice to reap some of the benefits from that. However, we in the Triad can honestly say our market is not overpriced.

I have lived in this area for 16 years and even though housing costs have gone up, we are still nowhere near some of the more expensive places to live in the country- New Jersey, Connecticut, Hawaii, New York etc… Even North Carolina’s biggest cities are reasonable compared to those states.

Tim Kent, the Executive Vice President of the North Carolina Association of REALTORS points out in an article this month that while the rest of the country is feeling the bubble burst, North Carolina is not only doing well, our sales are up.

The prediction is that nationwide, home sales should be down 6.5% by the end of the year from last year. However, North Carolina shows our sales UP 9% in existing home sales for the first half of 2006.

Ahh, yet another reason why its good to live in NC!

P. S. Check out this article in the Business Journal:

http://www.bizjournals.com/triangle/stories/2006/09/04/daily20.html?jst=b_ln_hl

Getting approved before shopping

2006-08-02T14:25:00.000-04:00

I know, I know... the way it "usually" works is that you shop for a house and then find out if you can get a loan on the one you want. Traditionally, buyers may feel as though getting pre-approved is putting the cart before the horse- how do you know how much house to get approved for if you don’t know which house you want yet, right?

However, at the very least, you should be pre-qualified and get some sort of idea on how much house you can afford. Many buyer’s agents will tell you that looking at houses and then finding out you can’t afford them can be very disappointing. If you have to set your sights lower, you will find very little that suits your style because you have had a taste of a higher echelon of homes.

Many buyer’s agents are encouraging their clients to go so far as to get pre-approved. Although this may seem extreme, I recently had an uncomfortable situation with a young couple who wanted to buy one of my listings.

Their agent went so far as to tell me they were approved for the loan but when the Offer to Purchase was written, it was more like the-check-is-in-the-mail. Only days later, the bank did not approve the couple and now, I believe the agent was not only misrepresenting the situation, but we have been held up during a time period where we could have sold the house to other clients.

When the buyers don’t get the loan, it is one of the rare cases where the sellers have rights to walk away from the contract without penalty.

No wonder the public doesn't respect real estate agents!

2006-07-09T16:40:00.000-04:00

Normally, I avoid being negative for several reasons. One; it doesn’t look well upon me and two; life is too short. Having a good attitude and positive approach towards even the most negative situation can make all the difference. However, a certain event this past weekend has brought to mind a very important issue- why real estate agents have such a bad reputation.

When I first started in real estate, I was shocked at how many people avoided using an agent to represent them in the buying process. I had just heard information from the yearly Gallup poll that agents were, once again, at the bottom of the barrel when it came to professions the general public respected. We are barely ahead of telemarketers, politicians, and car sales people.

As far as I am concerned, the public has nothing to lose. In the case of buyers, I don’t think it is an exaggeration to say that almost 99% of the time, the buyer will not have to pay an agent to represent them. Usually, that is taken care of when the sellers list their house- they pay both the person who represents them and the buyers’ representative in North Carolina (this varies state-to-state). The rare exception is when the buyer is interested in a house For Sale By Owner. The FSBO exists primarily so the seller won’t have to pay a commission and therefore, the buyer may be subject to paying the commission in that case. More importantly, an agent worth his/her salt will protect you and keep your best interests in mind.

But getting back to my point… you may be surprised at some of the things that I have experienced in the past year. I have met some wonderful people but, as we all know, the unpleasant experiences tend to stand out. Today rubbed me the wrong way. I was unable to answer my phone this weekend because I was out of town. A REALTOR® left a message on my home phone number asking for a showing of one of my homes. As a result, I was unable to answer her message in a timely manner and when I called out of courtesy to apologize, she was very rude. “Kara, hi, this is Lisa Duke, I am sorry I was unavailable this morning,” “I know you were,” she said smugly, “we’ve decided to move on.” Although I do not blame this woman for “moving on,” her tone was uncalled for. She focused on the fact that I was not there when she wanted me to be rather than the fact that I was sincerely sorry. A kind person would have graciously accepted my apology and we could have found a solution to the issue together.

My point here is that we in the Real Estate profession have trained the general public to dislike us. We are, too often, not nice to each other and we are even sometimes not nice to our clients. I imagine that if “Kara” (not her real name) was in the car with her client when I called, she certainly said something unpleasant about me when she hung up. If she teaches her client about the incompetence of REALTORS® and acts superior, she has taught her client that his/her stereotypes are confirmed- REALTORS® are lazy and rude and she is rude as well, not being sympathetic to my situation. What she is willing to say about me, she will be willing to say about her client, her coworkers, her family etc...

There are pamphlets available from the National Association of REALTORS® you can read about your rights as a client and consumer. One describes how it “pays to work with a REALTOR®” and the other is required to be given to every individual by an agent at what we call “first substantial contact” called Working with Real Estate Agents. It often looks like the dark graphic I have here but sometimes, certain agencies will alter the look. The title and contents are always the same.

If you have an unpleasant experience with a REALTOR®, don’t hesitate to call his/her broker-in-charge at the office to which they report. Keep in mind that the North Carolina Real Estate Commission is in existence for the consumer and if you ever have an unethical experience, I urge you to call them at (919) 875-3700 their web address being http://www.ncrec.state.nc.us

Take some time to shop around for your REALTOR®. Before you put your home up for sale, interview several REALTORS®. Pay attention to what they say and what they don’t say. Pay attention to their personality as well. Although experience and proven performance is important, you want to make sure you get along with your REALTOR® and they treat you with respect. If you are looking to buy a home, apply a similar process. Visit with several REALTORS® before you even look at your first home. Don’t just jump in the car with the best known agent in your area- take the time to get to know them a bit and pick one with whom you feel you can respect. They are out there!

The majority of REALTORS® are ethical, kind, and smart. Unfortunately, it is the few spoiled ones who can ruin the reputation of the bunch.

Realty Times

2006-06-28T14:03:00.000-04:00

An excellent resource for both those in the business and consumers is http://realtytimes.com/

You can sign up for a free daily newsletter about happenings in the market. It is not just bland interest-rate-has-gone-up stuff but information about common transactions, legal judgments, and Q&A features.

One of the things that struck me today was a feature on cons titled Con Men Seen Eyeing Unsold Inventories and how people are convincing the sellers (even builders) to sell at a higher price and give that money to the buyer. I am sure there are exceptions to this rule- when the seller agrees to pay the closing costs (but even in that case, the price should not be hiked), but in general, it is a red flag when a buyer asks the seller to sell at a higher price than s/he is asking.

Another exception to this rule is recent housing bubble- people were getting into bidding wars on their houses. Fortunately, the housing market in this area of North Carolina was never subject to this. Prices were not artificial despite growth in this area.

Although folks move around much more frequently than they once did, let’s assume the average is about every 5 years. Even then, rules change in real estate and rules that remain the same can be forgotten by the consumer. Go ahead and keep yourself educated and abreast of what is happening.

GTCC- Jamestown, NC

2006-06-19T10:58:00.000-04:00

In a recent article in Newsweek, our local community college, GTCC, was highlighted as one of the premiere schools to get a quality technology education. Although the main facility is in Jamestown, NC (minutes away from High Point) we have a satellite campus in town. It is a great place to not only get credit-education towards a degree but a wonderful resource for folks like me who are able to obtain a real estate affiliation; take non-credit courses like training your dog or photography 101 for pleasure; build on your current career like management certificates; and basic high school classes to be taken toward a GED.

In the article, it discusses its superior programs which educate high school graduates in subjects like biotechnology, healthcare, banking, and information technology. The article is in the June 12, 2006 issue.

Green Houses?

2006-05-25T12:29:00.000-04:00

The term “greenhouse” has taken on a whole new meaning in the last year or two. Ever since the big gas increases, people have been industriously finding ways to save on fuel. The fuel issue has made people reconsider other aspects of their lives- how else they can save money on the resources they use. As a result, many people are creating new ways, or using old ones, to save money on their household expenses and building “greenhouses” to conserve energy, prevent pollution and waste, and generally save money down the road.

Many of these techniques are “old” in the respect that we’ve been down this path before. Most of us recall the energy crisis in the 70s. This is a fantastic opportunity for many people who are out of a manufacturing job to invent something or take advantage of an existing invention (e.g. Biodiesel) and create a new job. But I digress.

There were a few tricks in the 70s that were blown off and have now resurfaced as a viable way to save energy, keep the air clean, save money, or just plain get off “the grid.” One way is windmills. These can be as simple as a 3’ diameter span to help run your clothes dryer. Something this small would not be able to run your entire house but it could help with some of the bills. Another system that was cost prohibitive in the past is solar energy. Again, one array may not take the whole house off the grid, but it could at least contribute to saving money and the environment. They may not be cheap now, but I would imagine that finally we have come to understand that we need to do something and I would presume the cost could come down if enough people demand the product.

What Steve is incorporating into his houses is sealed crawlspaces. This is different from regular vented crawlspaces in a couple different ways. First, the lack of vents on the walls of the crawlspace prevents moisture from the outside air from getting into the crawlspace, creating condensation, and, potentially, mold. Second, the crawlspace temperature is incorporated into the main part of the house by creating a vent leading from the house to the crawlspace. This way, the humidity can be regulated simultaneously with your humidity in the home.

You can view more ideas on the following website.

http://www.eere.energy.gov/

Moving Scams

2006-05-16T10:43:00.000-04:00

I was going through my million bookmarks that I have on my internet browser and stumbled upon this one. I thought it would be a good idea to share some ideas in this website about getting scammed when moving with a moving company. http://www.movingscam.com/

New Phase

2006-05-12T14:18:00.000-04:00

A new phase can mean many things in life. In the life of Duke Brothers, it not only means new, tangible, visible creations of lots are available for customers to choose but it also means progress.

When Steve and Tom decided to step up the size of the homes in the neighborhood, they committed themselves to a new chapter in the Duke Brothers story. Growing pains naturally follow and it is a challenge to keep up with the demands of the job every day. But we manage to pull through and every Friday is a salute to getting through another week!

We have waited a long while to get these streets in the works. But the city finally approved the plans and as the streets are being cut in, the water lines and storm drains will be laid next, then the sewer will be directed, the electrical and gas will be set, and finally paving will begin! The process should only take a couple months but building can begin right away, even without pavement.
A new phase in life and in real estate can be a good thing, indeed. We all look forward to this change here at Quail Run and we’re excited about all the new neighbors joining our community.

Duke Brothers

2006-05-05T11:02:00.000-04:00

Hello and welcome to the first Duke Brothers post! My name is Lisa Duke and I am married to Steve, Vice President of the company. His Dad, Tom, is the president and here's a little bit about us:

Tom Duke

Born and raised in the Nashville area, Tom Duke has had many adventures in his life.

He has been in the air force, sold Electrolux vacuums, and been a banker. From Tennessee to Texas to California, Mr. Duke would eventually find himself in Atlanta before the move to High Point where he has lived for more than 30 years.

Mr. Duke made the decision to begin building on the land around 1988. Starting a construction company focused on new homes, he would subcontract most of the work until Steve came to work for him in the early 90s. He continues to live in the lovely, early 20^th century farm house on the top of the hill, but is now surrounded by several dozen single-family homes, most of which his company constructed.

In his spare time, Tom enjoys music including dancing and playing the sax.

Steve Duke

With a light Southern drawl, Steve still jokes he is from California, having been born in Los Angeles County. His early childhood spent in Atlanta, he has lived most of his life in High Point on the 70 original acres Tom purchased off Gordon Road.

After high school, Steve learned the trades of a home builder including framing, brick masonry, landscape grading, and drafting. Joining his dad in the early 1990s, they would soon be managing all the construction on Quail Run Farm.

Steve enjoys playing drums, riding horses, home-winemaking, and traveling to his mother’s native

England

every few years to visit extended family.

Lisa Duke

A Jersey girl at heart, Lisa has lived in the Triad since 1990. After working in the advertising and marketing field for nearly eight years, she attended graduate school to study geography. When the aerial photography firm with whom she was working decided to close their North Carolina office in 2004, Mrs. Duke found herself at a career crossroads.

Since Duke Brothers would need help with their growth, Lisa obtained her real estate license in 2005 and is a new home sales specialist. She started her own company under the name Point of Beginning.

Lisa met Steve in 2001 when she had trouble with the crown molding in her dining room. They married in 2003. Mrs. Duke enjoys salsa dancing, learning about wine, and writing.