These custom built townhomes now offer pre-construction incentives on the first building of 4 residences.  There will be only 20 residences in total when The Tradition of Old Town is completed.

Unit 15 – Hedgerow Cottage – $1,270,000 – less 220k = $1,050,000
Unit 16 – Willow Cottage – $1,143,000 – less 193k = $950,000
Unit 17 – Dove Cottage – $1,165,000 – less 200k = $965,000
Unit 18 – Twin Pines Cottage – $1,180,000 – less 210k = $970,000

Our town homes range in size from 3,100 to 5,200 square feet with finished living space above a detached 2-car garage. Each residence is custom designed and constructed for maintenance-free cottage living. Membership to the exclusive Pinehurst Resort & Country Club is included giving each homeowner access to six golf courses including Donald Ross’ famed Number 2. As a member of Pinehurst, homeowners will enjoy privileges at the Pinehurst Golf Academy, the Spa, The Marina, Member Pools, Tennis, Croquet & Lawn Bowling and Private Dinning overlooking Donald Ross’ legendary Pinehurst Number 2.

For more information contact Bill Sahadi of Fore Properties at 910 638-0888 or Michael Doninger, Developer/Broker at 919 280-3086.  Be sure to peruse our state of the art web site to view floor plans, DVD’s & architectural drawings at www.thetraditionofoldtown.com.

A reader asked if we’ve seen any change in a home buyer’s ability to secure financing.

The majority of our real estate activity in Moore County since the first of this year has focused on homes in the $150,000 – $300,000 price range.  I can’t recall one instance where borrowed money was hard to come by by our lending institutions.  Granted, the banks have tighter restrictions on “credit worthiness”, but we insure that all our clients have been through a preapproval process prior to showing them properties.

We have had situations where clients have been told to shore up their credit if they want to purchase a home and for those clients, renting is the only option.  I am careful to advise clients against entering into any sort of rent to purchase or lease/purchase options in our market today.

A good real estate attorney would have to assist these clients before they sign anything on a rental with a option to buy at some specified closing date down the road.  Many times the numbers work against the renters, and a majority of them never do purchase the home, and many of these clients would be forced to put up non-refundable option money that they would lose if they don’t close on the property by the date (usually within 12 months), from the time they occupied the home as a renter.

Lastly, many potential buyers are tempted to enter into a rent to buy or lease purchase contract on a home that is out of their price range or comfort zone., and typically, the home goes under contract for a much higher price in this scenario, then the seller would have sold the home for outright, within 30 – 60 days.

The best thing a fringe buyer can do is shore up their credit, and negotiate the best price they can on a home they can afford.

Bill Sahadi
Broker/Owner, Fore Properties Realty Inc.
1140 Old U.S. 1 South
Southern Pines, N.C.
28387
www.foreproperties.com
910 638-0888
CRS, Certified Residential Specialist
http://www.4pinehurstrealestate.com/

reprinted from the N.C. Bar Monthly Newsletter – Dec. 2006

BY WILLIAM G. SAHADI, CRS

In the past seven years I’ve been involved in more than 400 real estate transactions. That is 400 first-hand opportunities to view the value that a good real estate attorney brings to the table. The majority of these transactions have involved the sale of residential homes. In no less then 40 per- cent of these transactions emotions, misunder- standings, egos, timing and legal issues have reared their ugly head.

Imagine a symphony without a conductor, or a wheel without an axis. From the start, careful and caring real estate brokers perceive themselves as the Gatekeepers of the Transaction. It is from their relationship with the client that the stream of guidance, advice, and assistance begins. Relationships with the lenders, insurance compa- nies, inspectors and attorneys follow. For all these relationships, the attorney and the realtor are the ones who touch base with all the players. Their good communication is vital to an expedient and successful closing. In one sense, the realtor runs the entire race with the client, but it is only the attorney who can help them cross the finish line.

The attorney’s main role is to deliver good title to the client, prepare and review the settlement statement, prepare the deed transferring owner- ship and oversee the steps necessary to ensure the seller has clear title to the property and that the funds for purchase are properly transferred. By no means is this high-dollar entertainment. Yet a good attorney can make the whole process work even better by adopting the rhythms of the relationship that the client and real estate broker have formed. In the unfortunate situation of a fractured broker/client, or seller/buyer relation- ship, their presence, awareness and understand- ing are even more vital.

At some closings, it’s not uncommon for attor- neys to don their referee’s zebra outfits replete with a whistle around their necks. They have picked up the baton from the real estate broker and it’s their demeanor, their guidance and their understanding that gets the deal done. So many times issues arise that require cajoling, negotiat- ing and reasoning with the client. In almost all of these cases, it is the attorney who takes center stage. It is the attorney who has to resolve the issues. Title insurance companies do not offer this service.

We live in a consumer-savvy environment. Our clients are more educated today than ever before. Their awareness of price shopping is acute, yet all the articles and arguments about why title compa- nies can offer the client a more cost-friendly fee to handle their closing (and this is questionable), misses the most important point of what matters and of what is of true value. Is it valuable to save money when your interests might not be properly served? Is it cost effective to save a few dollars on most people’s largest single lifetime purchase? Is it wise not to have a good attorney overseeing any possible issues or watching for missteps that might affect the bottom line of the clients’ trans- action?

Finally, many realtors walk a fine line in drawing up documents and giving their clients advice, legal advice that should only come from the attorney representing their interests. We have developed a strong relationship with two area attorneys who are there for us when we call. They are there for us when we are drafting documents. They are there for us to help us serve our client. Many of our contracts and communications with our client are written with attorney assistance/guidance.

Four hundred transactions have taught me the value of good representation for my clients. My solid attorney relationships have enabled me to serve my client better, thereby making me a better real estate broker. A successful real estate attorney should always align himself/herself with reputable real estate professionals. They should market themselves to us as liability reduction experts, and always try to personalize and under- stand the relationship we establish with our clients along the way, so that together, we are both equipped to help one another. In this scenario, everyone wins, especially our client.

SAHADI IS A BROKER AND OWNER OF FORE PROPERTIES REALTY INC. HE CAN BE REACHED HERE.

The team at Fore Properties consists of 6 agents with a combined experience of over 89 years in Real Estate. We can serve your needs from new construction to real estate rentals. We specialize in all areas from Pinehurst, Southern Pines, Whispering Pines, to the Carthage, Cameron & Seven Lakes/West End areas. Feel free to stop in or call to see what our team of real estate professionals can do for you.

Search our real estate database, give us a call or stop by our office! We look forward to meeting you!

• Search for Pinehurst Real Estate
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  1140 Old US 1
  Southern Pines, NC 28387
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  Tel: (910) 692-4211
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Experience Matters!

Nostalgia linksters who remember Payne Stewart’s last colorful 1999 Open round before his untimely death or recall Ben Hogan’s first tournament win in Pinehurst, or you care most for golfing today, the Pinehurst-Southern Pines area combines memories and excitement enough for all.

Pinehurst # 2, designed by the legend Donald Ross, has played host to the U.S. Open several times while nearby Pine Needles hosted the Women’s Open in 1996 and 2001, and other courses regularly host special events.

It is not accidental that this small golf mecca has grown up around the unique village of Pinehurst, a remarkable recreational and living spot designed by Frederick Law Olmsted, creator of New York’s Central Park. The locale was sufficiently appealing that Donald Ross dropped by at the turn of the 20th century to re-design a golf course and stayed for forty-eight years to design a handful of local courses and a hundred plus courses around the country, always calling Pinehurst #2 his “home course.”

These courses are accessible via Amtrak, airport limo from Raleigh, Greensboro, or Fayetteville, and several interstates. The Sandhills’ benevolent weather makes them playable almost daily throughout the year, and the area offers an array of remarkable restaurants and shopping for hours not spent on the course.