Adding Curb Appeal to Your Glen Laurel Home

It is the goal of the homeowners association in Glen Laurel to make Glen Laurel the best neighborhood to live in within Clayton.  Prospective homeowners and Realtors are always driving through the community and many homeowners are doing their part to maintain curb appeal to help the neighborhood look its best.

Homes with great curb appeal take less time to sell and fetch a higher price.  Attractive and well-maintained landscape will help improve the look of your Glen Laurel home and add value.  If you are looking to spruce up your home, consider washing its exterior.  Soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto the exterior of your home over time.  If you would like a faster approach, consider using a power washer to clean the outside of the home.  Do not forget to wash your windows on the inside and the out.

You next want to inspect your roof. Missing, curled, or faded shingles are easily noticed by prospective buyers and will be seen by an appraiser.  If you plan to sell your home, these will need to be fixed at some point in time so you may want to consider doing repairs prior to listing your home for sale.

A well-manicured lawn with pruned shrubs and fresh new mulch will improve the appearance of any home.  If you have overgrown, bushes consider replacing them with leafy plants and colorful annuals.  Water and add nutrients to your lawn to improve its color.

Adding a little color will attract the eye of those passing by.  A flowerbed by the mailbox with brightly colored flowers will make your home pop.  Color may not help your home appraise higher but it will add curb appeal and help your Glen Laurel home sell more quickly.

A nice mailbox and architectural house numbers can also help your Glen Laurel home stand out among the crowd.  If a new mailbox is not in the budget, consider repainting your old one.

If you are interested in buying or selling a home in Glen Laurel, contact Rodney Geohagan.  The Geo Team is here to help you with all of your real estate needs.  Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late.  There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure.  Rodney has the answer and would love to sit down for a confidential review of your options.

The Truth About Home Loans In This Market Revealed

During this economy you may be feeling that obtaining a new home loan in Raleigh is not within your reach. There are many myths about mortgage financing and here are some answers to help you with your home loan process.

Myth #1- Banks are not lending:  We are hearing it everywhere that banks are not lending but that is just not the truth. Banks are indeed lending money just not to those individuals or businesses that have no credit worthiness. If you are able to show a good credit record that includes no missed payments in the past 12 months and have a significant income to debt ratio, you should be able to obtain a mortgage rate without any issue.

Myth #2- Large down payments required:  100% financing is not as readily available as it was a few years ago, but the need for 20% down is not always the case either. There are many programs available to potential homeowners that require only as little as 3% down.

Myth #3- Solid two-year work history a must:  Many feel that without a consistent two-year work history they would not be able to qualify for a loan. You will need to explain any gaps in your employment, but as long as those gaps were due to education or qualified time off it will also fit the bill.

Myth #4- Only a high credit score will qualify me for a loan:  It is a myth that you need a credit score of 700 or above to obtain a home loan right now. Many lenders are now looking for at least a credit score of 640.

Myth #5- Mortgage insurance is too expensive for me to afford:  In the past few years, the cost of everyday items has rose and mortgage insurance on FHA loans has increased by more than 100%. The good news is that private mortgage companies are becoming more competitive and aggressive in finding ways for homeowners to obtain insurance at a lower cost.

Myth #6- I can only have four financed properties:  In many instances, it is true that you can only have four financed properties at a time. However, many lenders have done away with that limitation are now allowing for up to ten financed properties.

Lenders are looking to lend and homes are more affordable than ever. If you are interested in learning more, contact Rodney Geohagan.The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options

USDA Home Loans Offer Lower Fixed Interest Rates For Raleigh Residents

The USDA Rural Development Home Loan is a loan program that many prospective homeowners in the Raleigh area are not aware of but may be just want they are looking for. If your income is below the median income range and you are looking to purchase a home in a rural area this loan is perfect for you. It is a loan through VHDA - A Rural Housing Development loan.


This loan is a flexible zero down payment government guaranteed program that was established to help promote home ownership to those living in rural communities who have low to moderate incomes. Not only does this program offer a zero down payment, it also offers a 30-year term fixed rate mortgage of 3.25 percent. Many suburban areas outside of Raleigh qualify for this program.

The most common USDA rural housing loan is the Section 502 Guaranteed Loan. This loan allows borrowers the ability to receive up to 103.5% of the home’s appraised value and the opportunity to include closing costs in the loan itself. Borrowers will need a credit score of 640 or better to qualify for a USDA home loan. The Triangle home must be owner occupied and not an investment property. These loans are not allowed on manufactured or mobile homes.

USDA Home Loan example based on a $250,000 home price:

No down payment required vs. an FHA loan that requires a minimum 3.5 percent down payment, which would be $8,750.

An FHA loan will require you to pay an upfront mortgage insurance premium that is 1 percent of the loan amount. For a $250,000 home, you will be paying $2,412.50 due at closing. The USDA home loan has something similar that it calls a USDA Guarantee Fee. This fee is 3.5 percent so for this home loan scenario you would pay $8,750. This amount can be figured into your home loan, which is why the loan can be financed at 103.5%.


Total financed amount after the above scenarios are figured in:

FHA Home Loan = $243,662.50
USDA Home Loan = 258,750.00

Monthly Mortgage Insurance Payment:

An FHA loan will require annual mortgage insurance payment equal to 0.9% of the amount of the loan financed paid on a monthly basis. For the above scenario that would be equivalent to paying $182.75.

In contrast, the USDA Home Loan does not require any monthly mortgage insurance payments.
In the end, you will save more money with a USDA home loan as they offer lower interest rates and less monthly costs.

If you are interested in learning more about homes that qualify for a USDA loan, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.