Tuesday, December 21, 2010
To List Your Home Not or Not to List Your Home, That Is The Question
I don't think we will recover to 2006-7 pricing. Don't count on buyers offering anything close to your list price on your home simply to move the deal forward quickly in an effort to catch lower mortgage rates - I'm sure that's what your Realtor told you! Ultimately, buyers look at their financial situation and try to get the lowest principal on a house they can. When credit loosens up, there will again be the mindset of putting down the least they can and yet still work toward getting the lowest possible monthly payment. Think about this - did buyers care about having to pay another point as long as it meant they only had to put 10% down in the past? And did they care about yet another point when they were able to secure low doc loans or have the underwriter look past some weakness? Did they care about going for a 30 year or 40 year loan if it meant a lower monthly payment? They did not. This is human nature. We are more "monthly payment" driven than we are "interest rate" driven. There will always be, in the back of our minds, that possibility of coming into some money and paying the house off! If the higher interest rate means actually GETTING into the house, buyers are grateful. In the new climate, loans are and will be tougher to get anyway. Very few people at all are getting the lowest rates.
I just had a client get turned down for a refi with a score of 730. He is going to stop the process because he thinks it's absurd that he can pay for the house outright with liquid assets 10 times over this minute, and yet the underwriters bristled at the score - it's a long story, you don't need to hear it, but my client wants to keep his money working in investments. That was another state. I do have an awesome loan officer and team here in town who will give your profile a thorough look and will not waste your time, and refi's are very hot right now. If you can refi and stick around and NOT trade up just yet, I would lean toward that. I have a name for you if you write me.
The politics of the buyer climate: I follow politics and economics daily, a holdover from my last career as a portfolio manager. The richest 1% of the nation are simply not spending money right now. Sure, some are dabbling in low priced stock buys, but many are still converting to cash and waiting it out. On Jan 1, we have a whole new Congress, there is a lot of "wait and see" out there. They breathed a sigh of relief over the extended BUSH cuts, but they also know there will have to be some strategies put in place to pay down the deficit, and they know they are targets. Oh, and I am not taking sides here, I am just telling you I know how they think. And it's really not "THEY" and "US." This mindset filters all the way down the ladder of economic status - for many reasons, it affects the $400,000 market as surely as it affects the $1,000,000 market.
So, back to your decision on whether to put your home on the market. Look at your financial situation, look at how much equity you will really need to get out of the sale of your home in order to make the next move, and let that be the deciding factor. We may see better pricing strength by the latter part of 2011, but don't expect recovery to former prices. After all, out-of-town buyers, no matter where they are from, believe we had a bubble similar to theirs, and their beliefs and their motivation are what guide pricing. And the return of the out-of-town buyer is exactly what is going to fuel the return of pricing strength in our markets over $400,000. Ultimately, it's about what a buyer is willing to pay and what you are willing to accept in order to move on.
Foreclosures still on the rise and high unemployment hovering close to 10% are still putting pressure on the housing market. The good news about housing starts is just equivalent to a toe in the water! And remember, if you DO need to put your home on the market, please make sure it is competitive! Do some sprucing, some updating, some staging. Call me, I do free consults on all of it, no strings. I also have a YOUTUBE video on this very subject at http://www.youtube.com/greenbrokermeg
Saturday, December 11, 2010
Today - Garage Sale Indoors Raleigh Cary Area
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Tuesday, November 16, 2010
Network meeting today, come hear Ann McKenzie speak!
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Monday, October 25, 2010
YouTube Video Opportunity for WPN Members 10-26 at Eagle Ridge
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Tuesday, September 14, 2010
12pm Eagle Ridge Golf Club Today 9-14 Alkaline Water Can Protect Your Health
Meg Russell
WPN Garner Chapter Organizer
Voice & Text: 919-795-5973
God grant me the resources to leave my small
piece of the planet greener than the way I found it,
the courage to ACT daily with compassion for all Your creatures
great and small, and time on Earth to teach others to do the same.
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Sunday, August 22, 2010
Thursday, August 19, 2010
Meg Russell Has a New Office in Cary, NC
Meg Russell
Voice & Text: 919-795-5973
God grant me the resources to leave my small
piece of the planet greener than the way I found it,
the courage to ACT daily with compassion for all Your creatures
great and small, and time on Earth to teach others to do the same.
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Wednesday, August 18, 2010
A Thank You to Alice for My Quote in Wake Living Fall 2010 Issue
It is important to show gratitude in business, and it is important to give and give back. Somewhere, somehow in the cosmos, there is a store of benevolent energy that is created on your behalf when you give unconditionally. That is not only true in our personal lives, but in our professional lives as well. Of course, we are entrepreneurs to make a living, and to brand ourselves as the experts. But all in all, when we stop to breathe, to gather and to allocate some of our energy away from ourselves whether to a colleague's efforts or to some worthy cause, it always opens other channels of opportunity.
That's why I share with you that I have a moment, rather, a day, filled with gratitude for the opportunity I was given by Alice Osborn to help her with an article on Outdoor Lighting Trends in Wake County for Wake Living Magazine. Now, mind you, I gathered a lot of information and a lot of contacts, and took a lot of photographs of projects I haven't taken before. It was far more than she needed, but I did it because I was excited to be a part of a journalist's "creation." I shared a lot of good knowledge without expecting credit, but somewhere along the line, a little bird told me I might be quoted.
So with great gratitude, I share with you that I was quoted in this quarter's Wake Living, as well as in Fifteen 501 which is the Durham Chapel Hill equivalent of Wake Living. I am not sure whether Fifteen 501 contains exactly the same text, but I appear in the Wake Living, in the article called, Let There Be Light, fall, 2010 Issue, page 80, "You want to put your lights into your plantings so that you get a beautiful glow," says Meg Russell, an eco-broker with Southern Wake Realty (now with Raleigh Cary Realty)."
She goes on to say, "Russell, who works with clients on their building and remodeling projects
So, thank you, Alice, who participates in several organizations of which I am also a member. I was happy to be of help! The article looks great! If anyone has the recent issue of Fifteen-501, I am looking for a scan of it because there is a photo from my own collection in the same article. Happy August, blogreaders!
Meg Russell
Southern Wake Realty
Voice & Text: 919-795-5973
God grant me the resources to leave my small
piece of the planet greener than the way I found it,
the courage to ACT daily with compassion for all Your creatures
great and small, and time on Earth to teach others to do the same.
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Monday, August 16, 2010
Buy a meal at Mimis and help the Wake Women's Center
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Friday, August 13, 2010
Wake Women's Center Damaged in Storms - Fundraiser Tuesday
Print the attached flyer or find one at the home page of Chix In Business and 15% of your meal is donated to the center. Mimi's is at 1115 Walnut Street, Cary, call 919-462-6411 for directions. The center needs funds to dry out,make repairs, replace office items, and restock! Please help! You can read more here from ABC 11 News:
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Monday, August 9, 2010
WPN: Aug 10 Eagle Ridge Golf Club 11:15 AM Vanessa Vendola on Passion and Poetry
Where and When: Eagle Ridge Golf Club, 565 Competition Rd, Raleigh, 27603 Tuesday, Aug 10 at 11:15
Tomorrow, Vanessa Vendola speaks on passion and poetry and ways to connect with your inner self; take a moment to refresh yourself with a moment of inner joy and appreciation of the natural beauty around us, and come away with a fresh perspective on tomorrow. WPN is here to nurture and support our female entrepreneurs of the Triangle in both our business and personal lives with enriching education and productive networking.
Come share your ideas, network, and discuss ways to build your business. This is a wonderful venue with beautiful golf course views from the large private room provided to us and coffee and lunch available from the restaurant. There's still time to RSVP, or just come by and stop in even if you haven't RSVP - we'd love to meet you. Other chapter members warmly invited. Want to refine your speaking skills? Talk to Meg about getting on our calendar with your 10 minute presentation. Any WPN member may speak at any chapter. Please talk to Meg before or after the meeting if you'd like to join any chapter -- we'll check to see which chapter has your industry seat available. Only one individual per industry per chapter. Our Garner chapter at Eagle Ridge Golf Club at 565 Competition Road at Ten-Ten and Old Stage has many openings. See you tomorrow at 11:15 for networking!
Voice & Text: 919-795-5973
God grant me the resources to leave my small
piece of the planet greener than the way I found it,
the courage to ACT daily with compassion for all Your creatures
great and small, and time on Earth to teach others to do the same.
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Monday, July 26, 2010
Garner Coffee and Contacts Meeting Tomorrow at Eagle Ridge Golf Club
To our entrepreneurial women of the Triangle, there are positions open in the Garner Chapter of Coffee and Contacts, many industries sill not represented. Claim your referral network now! Join me tomorrow at Eagle Ridge Golf Club at 11:15 for an organization meeting.Email team3@womenspowernetworking.com for more info!
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Wednesday, July 7, 2010
More Than 27,000 Abandoned Oil, Gas Wells in Gulf
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Monday, June 21, 2010
Business Chix Incubator Meeting June 22nd, 9 AM For Women Entrepreneurs
Meg Russell
Voice & Text: 919-795-5973
God grant me the resources to leave my small
piece of the planet greener than the way I found it,
the courage to ACT daily with compassion for all Your creatures
great and small, and time on Earth to teach others to do the same.
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Monday, May 17, 2010
Launch of GREEN Strategies EBook for the 40th Earth Year Anniversary
Voice & Text: 919-795-5973
www.SouthernWorldRelocations.com
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Sunday, April 25, 2010
Launch of GREEN Strategies EBook for Earth Week
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New ReGREEN Nation meeting in planning stages
Meg Russell, REALTOR, Green, ABR, Ecobroker
www.SouthernWorldRelocations.com
Facebook | LinkedIn | Twitter | Inside919 | CIB-Social Networking
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Please keep your eyes peeled for the next ReGREEN Nation meeting announcement
Meg Russell, REALTOR, Green, ABR, Ecobroker
Voice & Text: 919-795-5973
Facebook | LinkedIn | Twitter | Inside919 | CIB-Social Networking
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Tuesday, April 13, 2010
ALL are invited to either learn or contribute! Meeting is free, Mimi's encourages the ordering of breakfast.
Green businesses willl be asked to contribute to the ReGreen Nation site by becoming part of a concierge of services, a green resource for individuals and families needing the services of responsible and earth-friendly businesses -- all in one place. There will be no membership fee to contribute to the website. Come with your business cards, website and blog links, thoughts and questions as to how we can slow global warming.
We will also present a slideshow of 40 Green Living and Building tips to celebrate Earth Day and ReGREEN OUR PLANET!!
RSVP at Eventbrite by visiting http://ping.fm/xDyAS
Sunday, April 4, 2010
Myebook - ReGREEN Nation By Meg Russell
Myebook - ReGREEN Nation By Meg Russell
Sunday, March 28, 2010
Wake County Accolades To Be Proud Of!
Wake County's 2009 Accolades
• Raleigh was named #1 “Top City for Small Business” by Bizjournals in February 2009.
• Raleigh was named the “Best Place for Business and Careers” by Forbes.com in March 2009 for the third consecutive year.
• Raleigh was named #1 “City Where Americans Are Relocating” by Forbes.com in April 2009.
• Kiplinger’s named Raleigh #10 “Best City” in May 2009.
• Raleigh-Cary was named #8 “Best Big Cities for Jobs” by Forbes.com in May 2009.
• Raleigh-Durham was named #5 “Metro for Best Quality of Life” by Business Facilities in August 2009.
• Raleigh was named #18 “Best Cities for Working Mothers” by Forbes.com in August 2009.
• Raleigh-Durham was named #8 “Next Hot Youth-Magnet Cities” by The Wall Street Journal in September 2009.
• Sporting News named Raleigh-Durham-Chapel Hill #17 “Best Sports City” in October 2009.
• Cary was named #19 “Safest U.S. City” by CQ Press in November 2009.
In addition:
Portfolio.com has released its annual small business vitality survey and ranked Raleigh third among the nation’s 100 largest metropolitan areas profiled. A six-part formula was used to analyze the nation’s 100 largest metros, looking for the places that are most conducive to the creation and development of small businesses. The formula analyzed each metro’s number of small businesses per 1,000 residents, the one-year change in that concentration, one-year growth rates for small businesses and private-sector employment, and five-year rates for population and employment.
The highest scores went to areas that have prosperous economies, are expanding rapidly, and are densely packed with small businesses. (Portfolio defined a small business as any private-sector employer with 99 or fewer employees.)
Raleigh did top all other cities in the five-year growth rate category, showing a 22.5 percent increase in population. Also of note was that Raleigh finished high among the number of small businesses per 1,000 residents, at 27.44.
Additionally, Raleigh was the only North Carolina city to finish in the top 30. Charlotte, second in last year’s survey, fell 29 positions down from that level this time.
This survey confirmed what we have been saying about how our area is resilient amid the national economic downturn. We are ready for business at all levels, and we mean it when we say that when it comes to economic development, Wake County really is “smarter all around.” And you can take that to the bank! :)
Tuesday, February 2, 2010
Meg's Musings on the 2008 Census Data
ALL of my relocation clients, when they first contact me, invariably ask the same question, "What is Charlotte like?," followed by, "I am going to visit Charlotte right after my visit with you." While I can give them some positive feedback on Charlotte, and, in fact, even a referral in to a good Charlotte Realtor whom I trust, my heart lies, of course, with my own cities of Cary and Raleigh and my own county of Wake.
Wake is the State's Most Prosperous County: A report by The News and Observer regarding 2008 census data for North Carolina found that Wake County was the most prosperous of the state’s largest counties last year, meaning counties with more than 65,000 residents.
Our median household income of approximately $65,000 was nearly $20,000 greater than the state median income ($46,500). Another strong indicator was fewer than 13 percent of Wake County residents lacked health insurance in 2008, compared with nearly 16 percent statewide.
In terms of richest cities in North Carolina, two from Wake County made up the top three. Cary was at number one, with a median income of $91,947, while Raleigh finished third at $53,825, just a few thousand shy of Charlotte at number two.
This certainly points out the resiliency of the county, even in tough times and even with more people arriving every day. There is on average a better economic opportunity to succeed here than in the rest of the state, and we are talking considerably better than average, for that matter.
The reason is – and we have said it before and will say it again – diversity among employment opportunities. The county has never become too dependent on one single industry as its primary source of jobs. Because of that, a collapse of one market or considerably large employer will not devastate the county’s constantly positive trend of economic growth.
In a year where median income actually dropped in five states – Arizona, California, Florida, Indiana and Michigan – it is reassuring to know that people in North Carolina and particularly Wake County are able to weather the storm. When the storm ends, you can bet that Wake will emerge even stronger economically afterward.
Population of Wake County Versus Mecklenburg: Charlotte is easily North Carolina’s most populated city. Consequently Mecklenburg County, which houses Charlotte, also has the highest population of any county of North Carolina. But as Wake County is increasing in population by leaps and bounds, it will not be long before Mecklenburg will be in second place in the state.
Whether it is attributed to the excellent education system, the comparatively stable housing market, or the seemingly recession-proof economy, Wake is booming, so much so that its population is predicted to grow faster than that of Mecklenburg over the next two years. According to an estimate released earlier this year by the U.S. Census Bureau, by 2011 the populations of North Carolina’s two largest counties will differ by fewer than 25,000 people.
The population of Wake County is estimated to increase by 4.9 percent and 4.3 percent in 2010 and 2011, respectively. Mecklenburg will continue to grow, though at an estimated slightly slower pace than Wake over the next two years. This means that if these exponentially increasing trends remain stable, Wake could potentially become the state’s most populated county in 10 years. Given the trends among newcomers in relocating to the state, there is every reason believe this can and will happen.
More Evidence for Raleigh and Wake County: Portfolio.com has released its annual small business vitality survey and ranked Raleigh third among the nation’s 100 largest metropolitan areas profiled. A six-part formula was used to analyze the nation’s 100 largest metros, looking for the places that are most conducive to the creation and development of small businesses. The formula analyzed each metro’s number of small businesses per 1,000 residents, the one-year change in that concentration, one-year growth rates for small businesses and private-sector employment, and five-year rates for population and employment.
Raleigh did top all other cities in the five-year growth rate category, showing a 22.5 percent increase in population. Also of note was that Raleigh finished high among the number of small businesses per 1,000 residents, at 27.44. Additionally, Raleigh was the only North Carolina city to finish in the top 30. Charlotte, second in last year’s survey, fell 29 positions down from that level this time.
This survey confirmed what we have been saying about how our area is resilient amid the national economic downturn. We are ready for business at all levels, and we mean it when we say that when it comes to economic development, Wake County really is “smarter all around.”
While Charlotte and Mecklenburg remain at the top of the chart, Wake County is a rising star, so keep your eyes on the horizon.
Friday, January 15, 2010
Friday, January 8, 2010
Time To Recycle Christmas Trees, Boxes, Cards. Let's All Do Our Part!
The County’s program will accept the following materials: Christmas trees (remove ornaments, lights and tinsel); corrugated cardboard; chip board (paper roll tubes, cereal boxes, etc.); glossy magazines/catalogs; greeting cards; SBS board (shirt boxes, etc.); and wrapping paper (no bows or foil). Christmas trees are chipped and used as cover material for County park trails.
Celebration waste and Christmas trees can be recycled at five of the County’s Convenience Centers until January 17, 2010. All County Convenience Centers are open from 7 a.m. to 7 p.m. seven days a week.
· Convenience Center #1 – 10505 Old Stage Road in Garner
· Convenience Center #2 – 6025 Old Smithfield Road in Apex
· Convenience Center #4 – 3600 Yates Mill Pond Road in S. Raleigh
· Convenience Center #7 – 9008 Deponie Drive in North Raleigh
· Convenience Center #11 – 5051 Wendell Blvd between Wendell & Zebulon
Christmas tree only can be recycled at three County parks until January 17, 2010. All County parks are open from 8 a.m. to 5:30 p.m.
· Blue Jay Point County Park – 3200 Pleasant Union Church Rd in Raleigh
· Harris Lake County Park – 2112 County Park Drive in New Hill
· Lake Crabtree County Park – 1400 Aviation Parkway in Morrisville
For more information, call Wake County Solid Waste at 856-7400 or visit www.WakeGov.com/recycling.
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- Women's Power Networking Aug 24 11:30AM - Maggie H...
- Meg Russell Has a New Office in Cary, NC
- A Thank You to Alice for My Quote in Wake Living F...
- Buy a meal at Mimis and help the Wake Women's Center
- Wake Women's Center Damaged in Storms - Fundraiser...
- WPN: Aug 10 Eagle Ridge Golf Club 11:15 AM Vanessa...
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