November 28, 2015

Condo Living ~ Let Someone Else Fix the Roof & Mow the Lawn!

It's a question that comes up for anyone who’s looking to buy a house, especially in an urban area: Should I buy a condo instead?

For those who don't know, a condominium is like a hybrid between an apartment and a house.

Condos can be low-rise buildings, townhouses, freestanding houses, duplexes, triplexes or “mixed use” buildings, such as condos above offices or store fronts. They can be brand new, re-sell or conversions — that is, buildings that used to be apartments or factories turned into condos.

What makes condos different from freehold houses is that you own your unit but you also share ownership of the land, building and common areas. You share costs with fellow members of your condo association, and the board of directors or a property management company makes the big decisions.

Like a house, you buy a condo and own it outright. If you talk to friends or family members who live in condominiums, you'll quickly find out that many people love the condo life, while some people wish they bought a house instead.

So what are the pros and cons of condos? Here are a few reasons you may be drawn to one:

No yard to mow. This is a big appeal of owning a condo. There will be no mowing because you'll pay dues to a condominium association, which will take care of most of your maintenance needs. For many, it's a relief that you don't need to worry about landscaping, yard maintenance and physical labor activities like snow removal and roof repair. Paying the condo fee is welcome versus worrying about major maintenance.

It’s cheaper than buying a comparable house. Obviously, the cost of a condo versus a house depends on the size of the home, the property values of the neighborhood and the cost of living in the area. But typically, you'll spend less on a condo, especially in higher-cost markets where condos can be the only alternative to high-priced, single-family homes.

Many major costs are shared. By law, a portion of those condo fees goes into a reserve fund. When the property is well managed, this fund covers major repairs like replacing windows and roofing without additional costs to owners. Even when the reserve fund falls short, you’re not in it alone — a “special assessment” will be done and costs will be shared equally among owners.

Customization. Unlike renting, you’re free to paint the walls, put up pictures, and renovate.

There is a sense of community. Plenty of homeowners would say the same thing about their own neighborhood, but condo owners tend to live in much closer proximity than many suburban homeowners, who often have relatively big yards separating them. There are always social moments that occur throughout the day. Whether it be to take the trash out or pick up the mail, there are opportunities that one just doesn't get in a home.

Security. Marketers say condos offer greater security than a free hold home or renting. For one thing, people are more likely to take better care of property they own, and some buildings offer a secure entrance or a doorman. You might feel safer with neighbors on either side, and worry less if you frequently travel. 

Amenities. Some condos offer benefits you won’t see in the average home or apartment building — like a gym, swimming pool, and central club house and party room.

Adapted from an article by Geoff Williams, September 11, 2014, 3 Reasons to Buy a Condo

So why all the talk about condominium living?  Because Greg Rapp with Wallace Realty has a new condo listed for under $100,000!  If all the reasons above sound appealing to you...give Greg a call at 704.213.6846 to see the two-story condominium at  817 Mitchell Avenue in Salisbury NC.  This 2-bedroom condo has more of a townhouse look, with a beautiful box-bay window in the living room that is the focal point of the façade.

This condo, in the Littletowne subdivision on the skirts of the popular Fulton Heights neighborhood, offers a good use of space with a large combination dining and kitchen area with tile floors. You'll love the blue and white ceramic tiles on the kitchen walls! A small private rear patio is an ideal outdoor living area for our three seasons of mild outdoor evenings here in North Carolina. The home features a large laundry room, plenty of storage, and a walk-in closet in the main bedroom. And all for just $72,500

So if you're ready to have someone else mow the lawn and fix the Greg Rapp today to see this wonderful home ~ condo style living at 817 Mitchell Avenue, Salisbury NC! (704) 213-6846!

817 Mitchell Avenue
Salisbury NC 28144

Greg Rapp 
Wallace Realty Co. 
704 213 6846 Mobile 
704 636 2021 Office 

November 10, 2015

Under Contract in Seven (7) Days! Is Seven Your Lucky Number?

Greg Rapp, Realtor® with Wallace Realty in Salisbury, North Carolina, listed the beautifully restored Victorian at 424 E. Bank Street in the Brooklyn South Square Historic District for sale on July 7th.

By July 15th, it was under contract.

Greg Rapp can share numerous such success stories!  Well known in the area, Greg is considered the area's expert in marketing and moving historic homes and properties.  

The historic 'Firehouse' in downtown Salisbury, listed by a fellow Wallace Realty agent, went public on day #1. . . and Greg, working a strategic contact plan, had it sold before 7:00am on day #2!

After being an empty building in downtown Salisbury for several years, the old Firehouse is now a thriving business!

Greg Rapp had this super-charming home on Church Street in the West Square Historic District in Salisbury listed on March 25th.  By April 7th, after dual offers and a 'bidding war', Greg had 429 Church Street S. under contract...above asking price.

When a local bank wanted to move properties, they sought Greg Rapp to get it done. Greg listed the fixer-upper home on Caldwell Street on June 25th . . . and by July 14th it was under contract.

The little home on Crawford Street was also listed on June 25th...and Greg had it under contract by July 19th.

These are just a few of the properties real estate agent Greg Rapp with Wallace Realty has turned around to SOLD in the blink of an eye.

Who are you going to call when it's time to sell your house?  (704) 213 6846

Greg Rapp 
Wallace Realty Co. 
704 213 6846 Mobile 
704 636 2021 Office 

November 03, 2015

Winter is a Great Time to Buy or Sell Your House!

Fall and winter really can be a great time to purchase a home. Sellers can be more motivated and the holiday spirit just makes people want to be in a home. The combination of fewer buyers and slow business also means lenders and real estate agents might compete a little harder for your business. Shopping for homes in the winter months also gives you a unique vantage point of a property. 

So despite that December is usually when people are looking to deck their own halls—not buy new ones, buying a home in winter can be a smart move. Realtor® Greg Rapp at Wallace Realty, knows why winter may be the best season for buying or selling your home!  Give Greg a call at (704) 213-6846 and you'll know why, too!

Many real estate agents will tell you that the holiday season often represents a “lull” in the market. But savvy home buyers should look at the advantages of this season if they’re serious about buying. Firstly, mortgage rates are still low! But there are other benefits to home-buying during “The Lull” of November through January. 

There isn’t a lot of competition. People know they’re going to be busy or traveling during the holidays, so most deals have been wrapped up or people have put off looking until after the New Year. There are still homes on the market, but not as many people gunning for them. This is an advantage to both buyers. 

You might think inventory would be lower in a slow season, but that’s not necessarily true. And, sellers are motivated. The homes available on the market during this season are likely the homes that for whatever reason didn’t go during the peak season. The sellers will want to get the deal closed, especially for tax purposes. For a lot of people, they’ll be thinking it’s the end of the year and they will want to tie up loose ends. This is an advantage for buyers, especially if there are points to negotiate. 

Some Realtors® love this time of year, because the people who are out looking are serious. As a buyer, your broker will have more time to focus on you, as opposed to other times of the year when they might be juggling more clients. You may not be able to close before the end of the year, but it’s an excellent time to get something under contract. 

Buying in winter is also the ultimate litmus test for a home, since all the big systems such as heating, plumbing and the roof and gutters are put to the test in the cold. Some of the curb appeal may be gone, but fixing landscaping is a lot less expensive than finding out months later that your furnace doesn’t work. 

Moral of the story 

See what homes are on the market in Salisbury, North Carolina and surrounding areas this fall & winter season by calling the area expert Greg Rapp. Greg’s record in selling homes, and finding buyers what they need, is well-known in the area. You'll be HOME for the HOLIDAYS!!  (704) 213-6846 ~ Call -OR- Text!

Adapted from an article by Pauline Millard / LearnVest , December 26, 2013,

Greg Rapp 
Wallace Realty Co. 
704 213 6846 Mobile 
704 636 2021 Office