Relocatees to the Triangle often ask, "Why are there no basement homes in Raleigh area?

Relocatees to the Triangle often ask, "Why are there no basement homes in Raleigh area?

Well, there are.  We have basement homes in Cary.  We have them in Raleigh.  And in Apex and Morrisville.

Basements are not the rule, however.

See, we don't have the issues here that folks have to deal with in colder climates.  We only have a 15" frost depth in Cary and Raleigh.  This means that the top of the foundation footer for a home only must be 15" below the surface to avoid frost heave.  To get a basement would entail excavation of another 8 feet or so of soil to create the depth needed.

And then there is the high water table in many areas.  I think the clay soil is a contributor to high water table.  The water table makes the elimination of dampness more difficult for the basement builder.  Current focus on mold issues in a home make damp basements anathema to property values.

But, we do have basements in many areas.  The typical basement is a "daylight" or "walkout" basement, since one side is exposed when the home is built into a hillside.  Many of these installations are extremely nice with great access to patios, hot tubs, swimming pools, outdoor kitchens, and offer the opportunity to re-enter the home with little dirt and water tracked into daily living areas.

So, Yes.  We have basements in the Triangle.  I put this together to help you find them with one click.

Click the links below to find basement homes in the various towns and cities.

Cary North Carolina Basement Homes on the Triangle MLS.

Apex, North Carolina, Basement Homes on the Triangle MLS.

Raleigh, North Carolina, Basement Homes on the Triangle MLS, under $350,000.

Raleigh, North Carolina, Basement Homes on the Triangle MLS, $350,001--$600,000.

Raleigh, NC, Basement Homes on the Triangle MLS, $600,001--$1,000,000

Raleigh, NC, Basement Homes on the Triangle MLS, $1,000,000+

Morrisville, North Carolina, Basement Homes on the Triangle MLS.

Holly Springs, North Carolina, Basement Homes on the Triangle MLS.

Fuquay Varina, NC, Basement Homes on the Triangle MLS.

Garner, NC, Basement Homes on the Triangle MLS.

Raleigh-Cary, NC: New home, Older Home, or Historic Home?

The topic of polybutylene plumbing pipes recently sparked a little exchange in another venue, one in which I just had to participate.
Modern methods vs. historical methods.
Modern materials and components vs. historical materials and components.

I like a historical gem of a home as well as the next person. Historic Oakwood. Boylan Heights. Mordecai. All great Raleigh neighborhoods with wonderful examples of old homes that have been loved. We have nothing like these in Cary.
But I don't have blinders on regarding the topic of quality across time.  We have slap stick builders today.  Of course.  We have always had slap stick builders, all through the history of building.

Plumbing kicked it all off:

Some polybutylene pipe fails.  In some homes.  The existence of polybutylene water supply piping is not a material fact that must be disclosed by a home seller in North Carolina.

Copper plumbing has a 40 year life expectancy.
Lead pipe will last just about forever. I don't think that makes it a desirable water supply option.

The vast majority of homes I visit have no foundation issues, whether they are a year old, or 20 years old, or 50 years old.  Get to 100 years old and the foundations have issues much more often.

I have been in many 40 year old homes with trussed roofs, where that roof framing appears to be easily good for another 40 years.

I would like to have a brick home at some point. I may be able to afford one. Many people can't, particularly when they require the space they must have at a price point. In compromise by consumers, brick loses to more space.
Good quality wood siding, as used 100 years ago also is prohibitively expensive, and would be difficult to offer to a million new construction buyers. It also takes a lot of maintenance. White wood is passe for exterior use, IMO.

I have been in old homes that were junk when they were built, and are still standing as historical junque today. I predict that the home I am in will be here in 100 years, absent flood, hurricane, tornado, fire, or other act of God.

The slap stick homes of 100 years ago have tended to settle in, like Grandpa into his recliner, and often are revered as survivors. Well, that is, the ones that have been highly maintained; the slap stick homes that have not been expensively maintained have mostly crumbled into their foundations already.

It's comparable to having Grandpa in the home, and helping him find his glasses or slippers, and overlooking his forgetfulness with love.
We tend to forgive the foibles and shortcomings of older homes, the sloped floors and crooked doorways, constricting floor plans, outdated construction methods with high rates of failure, and seriously outdated mechanical, plumbing, and electrical systems, and high maintenance costs, because of respect and love of the memories and the hearkening to another time.

That forgiveness is certainly laudable. It is just oversimplification to make an across the board attribution of a higher level of workmanship to any era of homes.

Modern engineering and modern building codes have done a couple of things.
1. Provided minimum standards that were not in place 100-125 years ago.
2. Allowed homes to be built to those minimum standards. Too much adherence to minimum standards does NOT make a fine home, to be sure. Exceeding the minimums with most bang for the buck structurally may be a wise investment.

As consumers, we have helped cut our own throats on quality by worshipping maximum square footage per dollar invested in a home, and surface appearance without substance beneath it.
Most people will not pay the price for quality they cannot see every day. "Gotta have granite and stainless steel. Don't bother me about 2x10 floor joists on a 16 foot span."
But, the minimum codes probably ensure the long term survival of structures that receive at least the maintenance which was given to the typical 100 year old home.

Craigslist Rental Scams. Tenant and Landlord beware!

I have now heard three reports of rental scams on Craigslist.

While it is unlikely that any cognizant and responsible person would fall for the "Mail the deposit to me in Nigeria, and I will send the keys back" scam, the possible inconvenience for Landlords is less easily dismissed.

My friend Cheryl had the experience of having people cruising her Raleigh rental home while she was there. It was a little disconcerting to her that strange people would slow down and stare, while she was working in the yard and cleaning and doing a little painting.

Then I called her and mentioned that her home was listed "For Rent" on Craigslist. With her name in a Yahoo email address. And rent advertised at $700/month.

She was astounded. The Yahoo email address was bogus, even with her name on it. The rent for the property was $900. No wonder she had seen so much traffic! A few of us got together and flagged the ad off Craigslist.
Cheryl had advertised the rental on Rent.com, where it had been scraped.

It has happened since to two other acquaintances in the Cary office of Keller Williams Realty, where legitimate listings on Triangle MLS or Rent.com have been scraped and relisted with minor changes. The rent is always well below market, to spur traffic for the scammers.

One acquaintance who followed through on it got the email. "Silly me. I carried my keys back to Africa. I will mail them to you as soon as I receive your money order for the deposit."
You just have to hope no one is falling for that one...

$8,000 Tax Credit for first time buyers. Can you afford it?

So, every agent in Cary and Raleigh and Wake County is trumpeting the $8,000 first-time HomeBuyer's Tax Credit.  We are all reaching out to first-time buyers to help them.Well, the Tax Credit is great for Buyers who need to do something this year.  It can make buying more palatable in a tough market, amongst incredible doom and gloom.

But, $8,000 is NOT a good enough incentive to get into a bad deal.  $8,000 is not enough money to compensate for poor real estate advice from a professional Realtor who is supposed to represent you as a fiduciary.

First-Time Buyers, now, LISTEN UP!

1.  Make the deal stand on its own.  It must represent good market value, and be a home you would buy with or without a tax credit.  Take the Tax Credit as a BONUS, not as a stepping stone that lets you buy something you cannot afford otherwise.

2.  Listen closely when you are considering hiring an agent to represent you in the purchase of your first home.  Be very wary advice that starts off, "Well, it's a little tight for your budget, but... you'll get an $8,000 credit on your taxes."  Don't use the tax credit to help you dig a hole for yourself.

3.  If you don't have cash for closing costs, be very careful about committing your tax credit as future payoff on a loan to cover closing costs.  Make that tax credit be a bonus when you get it, not a means to cover debt incurred in buying a home.

4.  When you get advice, ask yourself who the advice is meant to serve.  Are you being pressed to buy a home in a rush?  If the deal is not compelling, there is little reason to be in a rush.  The Seller may be in a rush, like a builder who needs one more sale before the end of the quarter, so he needs closing quickly before the end of the month.

Or the rush may be to get a paycheck to the agent who is advising you.  That is dereliction of responsibility, as the agent MUST advise you for YOUR best interest.

Bottom line?

Get great guidance and advice.  Work with a real estate pro who is looking out for YOU.  Get a great deal on your first new home.  And next year, get a nice cash bonus at tax time!

Buying a foreclosure at the courthouse? Be Careful!

Hasentree foreclosure, Wake County, NC

Hasentree is slated for the auction block, golf course and all...

We have seen other Triangle subdivisions in trouble, either being offered for sale in entirety, or all the lots being offered for sale, or model homes on the market long before they had outlived their marketing usefulness to the builder.

The December 3, 2008 Cary News has legal notice that Hasentree properties will go on the foreclosure auction block at the Wake County Courthouse at 10:00AM on December 19, 2008.

This is also confirmed in the Triangle Business Journal last week and in Saturday's Raleigh News and Observer.

Hasentree was to be 650 luxury homes, from just under $1 million to over $4,000,000, and was kicked off with a multi-million dollar marketing campaign that included flying potential buyers over the development, including the Tom Fazio golf course, in complimentary helicopter tours.

34 homes remain for sale, and the luxury home market has been notoriously slow over the course of 2008 anywhere in Wake County.

Cary, NC, Real Estate Today