Blog

By: Jessica Sadler

You may have noticed signs in front of houses recently with warnings such as “CAUTION LEAD.” They are likely accompanied by plastic wrapping, tape and other safe precautions. This is the result of the EPA law that went into effect April 22, 2010. The details below are from the EPA website at:

http://www.epa.gov/lead/pubs/renovation.htm

Under the new guidelines:

“contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and must follow specific work practices to prevent lead contamination.”

To become certified, a contractor must take an eight-hour EPA-approved training course. The new guidelines require precautions like those below:

• Contain the work area.
• Minimize dust.
• Clean up thoroughly.

Many of our clients move into homes in order to renovate them and one should keep these rules in mind.

By: Susan Herst

Megan Daum’s memoir, Life Would be Perfect if I Lived in That House describes with uncanny accuracy folks who are obsessed with houses and who find the house hunting process terribly romantic!  It is no big surprise since she grew up with a mother obsessed with houses; their main weekend activity when she was a kid was going to open houses!

Daum has an interesting attitude about moving too.  For her, moving was like “pressing a reset button” when she was growing up.  She could go to another school and start over if she wasn’t doing well in a subject.  She found it liberating.  Nowadays, even if she is not actually looking for a house, she finds it incredibly relaxing to look at pictures of houses!

And yes, she still loves open houses, and the notion of being first.  She finds the house hunt like looking for a romantic partner, or going on a blind date!  “Will this be the one?!”    The best real estate professionals are the ones who can be counselor, psychologist and accountant wrapped up in one according to Daum.  They understand the heart of their clients so they can best guide them.

with gratitude to Wendy Cole, Realtor Magazine, June 2010

By: Mariana Byrd

A recent article in The Washington Post (http://www.washingtonpost.com/wp-dyn/content/article/2010/07/15/AR2010071504045.html) talked about how lenders feel regarding the second credit check that is “required” by Fannie Mae before closing.

In May of this year lenders received word that Fannie Mae was, as of June 1, 2010, going to require a second credit check right before closing.  In the past, the credit check was done at the time of application and not pulled again unless something suspicious was found the first time.  If the lender was going to sell any loans to Fannie Mae then this second credit check needed to be pulled 1-5 days before closing.

In theory, this sounds like a good idea.  According to a study done by Fannie Mae, borrowers whose properties had been foreclosed upon had accrued additional debt before closing that was not known about because a second credit check had not been pulled.  Fannie Mae argued that had a second credit check been pulled, the additional debt would have been disclosed and thus, the lender may have not made the loan (due to a lower credit score or a higher debt to income ratio).

Lenders state that one of the problems with pulling a second credit check right before closing is that credit is not meant to be stagnant.  Credit scores are ever changing and, thus, are likely to change from one month to the other.  Another problem is that the credit is being pulled days before closing which is one of the most hectic times in a real estate transaction.  Time and money, both from the seller and buyer, will be lost if the source of the debt cannot be verified in time and the closing has to be delayed.

According to The Washington Post article, a month after Fannie Mae told lenders that a second credit check was required they have pulled that information from their website and are now saying that it is only a suggestion and not a requirement.

Nonetheless, as a buyer, it is always a good idea to not receive any inquiries into your credit (other than the necessary credit checks done by the lender and potentially a homeowners insurance company) during the home buying process.  Any good real estate agent and mortgage lender will always tell their clients that they should not open any new credit cards or buy any large item(s) on credit (furniture, cars, etc) at any time before closing on their new home.  It seems that this is sound advise even if a second credit check is required or not.

By: Courtney James

Grocery stores are one of those not so obvious features that definitely have an impact on real estate property values.  It’s not something that people generally discuss when they are telling me their list of must-haves.  However, it almost always comes up when we are in the car driving from house to house.  It seems that recently people have been more inquisitive about places that might sell locally grown food.  We are lucky in Durham to have a wonderful Farmer’s Market that in the summertime is open on Wednesday afternoons as well as Saturday mornings.  Other than the Farmer’s Market though, there are no strong options for local food.  I am hopeful that this soon will change.

For those of you that do not know, Durham Central Market is a new neighborhood cooperative grocery, aiming to locate in the heart of Durham. Durham Central Market follows the owner/member model of local co-op groceries, like Weaver Street Market in Carrboro and Chatham Marketplace in Pittsboro, but with a distinctively Durham flavor. As of a couple weeks ago they committed to a location at the corner of Mangum and Broadway Streets, two blocks from the fabulous Farmer’s Market.

This month they are asking for all of us to spread the word to get new members.  To date they have 650 members and are hoping to get 1000 by summer’s end.  I bought my share as soon as I learned about the organization.  I strongly suggest you do the same! It's a one-time $100 share purchase.  Visit their website today and join the Durham food revolution!!

www.durhamcentralmarket.org

Features of a Cooperative:

• Co-ops are owner and democratically controlled by their members - the people who use the co-op's services or buy its goods - not by outside investors.
• Co-op members elect their board of directors from within their membership.
• Co-ops return surplus revenues to members proportionate to their use of the cooperative, not proportionate to their investment or number of owner shares.
• Co-ops are motivated not by profit, but by service - to meet their members' needs for affordable and high quality goods or services.
• Co-ops exist to serve their members.

By: Page Page

I recently received an email from my homeowners association list-serve about the new Durham Bike & Hike map.  What a great resource for the citizens of Durham!  If you like to get out there on your feet or bike, this is the map for you.

For those who like to run or take a leisurely stroll, the map gives you multiple options through the greenways, multi-use trails and hiking/walking paths throughout the county.  Many of these are located in the downtown area!

If you like to hit the roads on your bike, the map provides great route options for every level of cyclist.   For those preferring a leisurely ride away from traffic, you can use the many multi-use paths throughout the city.  For the more adventurous riders, the map highlights road traffic levels as well as the road accommodations for the riders.

In addition to all route information, the map provides a listing of restaurants and arts/cultural sites in downtown Durham.

The map can be viewed on-line at:

http://www.durhamnc.gov/departments/transportation/bike_hike_map.cfm

Additionally, copies of the maps can be picked up at the following locations:

-Durham City Hall in the Transportation Department (fourth floor)

-Durham bicycle shops (REI, the Bicycle Chain, Durham Bike Co-op)

Happy riding, running, walking and hiking!

By Bill Dandridge

Recently I had the opportunity to tour the Home Depot Duke Smart Home with a client of mine.  This client was interested in buying an older home that would require many updates to help its systems to operate more efficiently.  My client was looking for inspiration, and he chose this highly innovative building from which to get ideas.

This house was a senior project from a 2003 graduate of Duke's Pratt School of Engineering. Because of funding issues, or a lack of funding (the students thought that Duke was going to pay the ~$1.4 million in construction costs, which they were informed was NOT in the original plans), the Home Depot Duke Smart Home was not built until 2007. The first group of 10 students moved in at the beginning of the 2008-2009 school year.

Originally, the building was planned to have cutting-edge technology that reflected the most current innovations, but its plans were altered slightly to reflect the desires of its inhabitants. The students wanted to have solar water heaters and rainwater harvesting systems, for instance.

The Home Depot Duke Smart Home has achieved the LEED (Leadership in Energy and Environmental Design) Platinum designation from the US Green Building Council by following a rigorous  process during the building process, and by submitting a checklist of energy-saving measures implemented during the construction.

Please visit the Smart Home's website (Duke Smart Home Program) to learn more about the home’s environmentally friendly features.

By:  Mary Hunter

There are so many reasons why I was personally drawn to work with Urban Durham Realty, but one of the top drawing cards was the genuine mission of supporting and giving back to the community. Having been a former primary grade teacher (with an emphasis in reading) in the Durham Public Schools, I was recently intrigued with the Bookmark project.

In the spirit of giving, Urban Durham Realty was invited to participate in actually handing out the books we had collected in our Bookmark Community Fundraiser to the students at Holt Elementary!  What a treat it was to see the bight smiling faces of the children as they selected these wonderful treasures.  Many of the children expressed with so much enthusiasm some of the following comments and questions:  "Do we  really get to keep these books?"  "Will you call my mom and tell her that I get to keep these books?"  "Wow, look there is Diary of a Wimpy Kid!"  "I can't wait to show these to my family."  "This is so awesome!"

Julie Marshall of the Office of Public Affairs, Durham Public Schools, has the right idea:  "In education," she wrote me, "we are all convinced of at least one thing: the earlier and better a young person learns to read, the better he or she will perform in all subject areas throughout their educational career.  It is not an understatement to say that your support of BookMark stands to change lives."

As you can imagine, it was a wonderful experience being involved with the children in Durham. We hope to be able to participate again next year and help the bring joy to many more children in the Durham Public Schools!  Thank you to everyone who helped us make this event so successful!

I'll start with a disclaimer!  This is, admittedly, a bit of a self-indulgent blog post. I can't help it.  I really love this place and the people in it, and I really want to make sure they know it.  Of course they'll want to read it over and over in the coming months, and it's just as well that the general public, too, understand what a top-notch time they'll have when stopping by the office for business or pleasure!

Since joining the team at UDR, I've learned more than I ever thought I would in regards to real estate.  I've also, though, been fortunate to learn volumes more.  Watching such a knowledgeable  group of individuals juggle a prosperous business, while also taking responsibility for how their success might relate to and benefit the community they serve - literally on a daily basis! - has been monumentally inspiring to me.  I hate to be trite, but you hear about how "one person" or "one company" can make a difference, and then you SEE how this is so, and one is so much more powerful than the other.  I'm not sure any of the chickens at UDR know how prideful I've been just to be a part of that effort, and how much of that ethic I'm taking with me because of them.

Here are a few other reasons why I will so genuinely miss UDR and company:

10. Chicken-related humor: With the UDR Chicken Chase in full effect within mere days of my arrival, fowl-themed banter has worked it's way into the core of our daily exchanges.  I'm sorry that the next time I think of a really good chicken pun, no one will congratulate me, or point at me and wink.

9. Macs are everywhere: Not that I was ever confused on the issue, but swimming in a sea of Macs working in (mostly) seamless harmony has solidified my affection.  Even when realtors that will remain nameless insist on watching the Bachelor or World Cup on theirs, they still look smarter and sexier.

8. Speaking of computers...  I fear that without Mary, I will never again be made to feel like a brilliant technological trouble-shooter.  I'm pretty sure she invented a few bizarre computer glitches just so I could "fix" them and "save her life."  Thanks, Mary.  I've been bragging about this for months.

7. Susan's articles and clippings:  There is another dimension, whereby a working mother of 3 with her hand helping a thousand community pots actually has time to sit and clip (or forward) poignant articles and pertinent comics from any worthwhile publication you can imagine.  Either that, or Susan just never sleeps.

6. Jessica's story-telling:  You know that person who tells a story better than ANYONE, and always makes you wish you were there?  That's Jessica.  She's so good at it, that I had to override my first and very strong inclination to highlight her skinny pants as my all-time most missed Jessica-ism.

5. Bill's greetings: HOW will I ever know when I've reached my destination, without Bill yelling "Luci-Lu!" or Mz. Pestana!" at the top of his lungs upon my entry?  I'll be confused about this for a while, and will surely miss the welcome.

4. Little girl laughter: Courtney and Mariana's beautiful daughters often times "help" Mommy at the office, and I've reaped the rewards of having them around.  A Mom of 2 boys, I'm just not used to the girly laughter and chitter-chatter, and it's been a divine awakening.  Squeezing Penny (not too hard, I hope) has also been a perk.  But most importantly, these two have demonstrated absolute grace in the way they balance their work and children (literally simultaneously.)  I know they may feel like it gets awkward at times, but on this side of the lens, it looks like they've got it all figured out... and I admire that more than I've ever been able to say.

3. Clever emails:  I really will miss the creative process that goes into formulating cleverly worded emails that essentially say the same thing (which is often a reminder or reprimand) in a new and inventive way.  Thanks, everyone, for helping me expand the parameters of my writing style, and for always thanking me for the extra effort!

2. Having to remind myself I'm "at work:"  It's a problem I think everyone wishes they had...

1. One word: DREAMBOAT.  Yes, I dared.

I am very thankful for the experiences I've had with this firm, and I so cherish the lessons learned and especially the relationships that are mine to keep.  Good luck to you, Page, I know you'll enjoy this too.   I'm trusting you all to keep me in the loop!

by Susan Herst

Ten years ago in the suburbs of Chicago, we remodeled the kitchen in our 1920's home.  By reconfiguring existing space, we created a rather grand kitchen with an island without bumping out exterior walls which would have increased our footprint and made our already small yard smaller!  The trend was to create the family room off the kitchen; we really felt like we were working against all the pressures from the architect, neighbors, and family to work within our existing footprint.  I remember hoping that there would be a premium someday for homes whose exterior walls were still intact after 100 years.

Whenever I read Sarah Susanka's books, I believe that day has come.  She advises her clients to not "rebuild their whole house, when in fact the house of their dreams is right under their feet.  The point is to determine where there is existing space they may not have recognized.... Ideally you want to stay within the footprint of the house."  Music to my ears!

But here is the surprise... new data about the financial value of improving a home suggests that the entryway is where you get the BIGGEST bang for the buck.  Sarah agrees, "If you walk into a home that does not welcome you, that's unfortunate.  I'm talking about having a gracious entry, ideally with natural light."

So think about less invasive, thoughtful home improvements and don't forget to consider the entryway!  Read more in Sarah Susanka's book, Not So Big Remodeling.

By Jessica Sadler

Leaving yoga at Patanjali's Place this week I ran across a flier Durham's new Cohousing Community. I had been hearing talk about this around town but had yet to see anything official. I picked up the flier with a handy map and walked by the new location on my way to enjoy some breakfast at the newly opened Scratch Bakery (yum!)

It's going to be located on Hunt St between Rigsbee and Mangum in what I personally think is a pretty hot area of Durham. The complex will have 24 condos ranging from 800-1500 sq ft and will all share a common dining room, kitchen, great room, meeting rooms, guest bedrooms, gardens, and rooftop patio.

According to their website, the community is one that:

• Is supportive of and encourages the well-being of its members
• Lives a cooperative, sustainable life
• Maintains and strengthens links to the larger Durham community
• Fosters a balance between private lives, our cohousing community, and the well-being of the wider community.

They hope to open in 2012 and have been hosting information meetings around town. You can find a lot more great information at their website: http://durhamcoho.com/