With the Fed raising interest rates, mortgage rates are following suit. Mortgage rates have been moving up slowly since last summer, and the pace of increases has picked up since the election.

Small rate changes matter. For example, if you were planning to get a $250,000 loan and mortgage rates move up between .75 and 1 percentage point, you would need to scale back your purchase by $20,000 to keep the same monthly payment.

It’s always hard to predict the future, but this is a good time to lock in at a rate that is still historically low.

– Scott Gibertini, USAmeriBank

Briar Chapel, one of the Triangle’s largest green residential communities, recently unveiled Veranda. As the “front porch” of Briar Chapel, Veranda provides creative retail options slated to transform the community into a visitor destination.

Built in partnership with Montgomery Development, Veranda boasts four buildings with approximately 42,500 square feet, a blend of dining and retail options, healthcare and legal offices and educational institutions. Restaurants feature spacious outdoor patios and fireplaces, as well as a stage to accommodate performances and foster community engagement.

This long-awaited commercial segment is situated along the U.S. 15-501 corridor in Chapel Hill.

– Cherith Andes, Clairemont Communications

In last month’s article, I provided 14 tips to become a more profitable landlord. How do you know what to charge for rent? Your local market’s recent leasing history is most important.

Rental rates are highly dependent on what similar properties have leased for during the previous three to six months. This information is readily available to most Realtors, so having a relationship with a Realtor is helpful. Alternatively, for a small fee, visit Zilpy.com to research rental rates for comparable homes in your specific market.

When setting your rental rate, be aware of the market and price competitively.

– Scott Korbin, Coldwell Banker HPW

In last month’s North Carolina 100 article, I provided you with 14 tips to become a more profitable landlord.

The first tip generated many questions, the most common one being “What specific rate of return can be expected in today’s market?” After a thorough analysis of a large sample size of cases, I found the current market’s rate of return to be 5.84%.

Find out how I found the above answer here. For a more detailed analysis on a property of your choice, you can schedule a time with me or modify our sample with your property specific data.

– Scott Korbin, Coldwell Banker HPW

Ready to invest in residential real estate? Here are 14 tips to becoming a profitable landlord:

1. Buy it right using a specific rate of return.

2. Study your market. Set rent accordingly.

3. Market using high-quality photos.

4. Check credit, evictions and criminal background.

5. Complete your paperwork accurately.

6. Understand your obligations.

7. Prepare for maintenance costs.

8. Prepare to hire a property manager.

9. Manage your time.

10. Treat your real estate like a business.

11. Prepare annual pro-formas.

12. Understand fair housing laws.

13. Have an exit strategy.

14. Consult your CPA and attorney.

– Scott Korbin, Coldwell Banker HPW

Should you move or stay? Are you still struggling with your decision?

Here are some simple tips to help you. 1) Determine if remodeling can solve your problem in an economically feasible manner, 2) Evaluate all costs of moving versus staying, 3) Ask your broker for the “as is” versus “after-improved” market value, 4) Consider new construction vs. resale, 5) Consider budgetary constraints, 6) Determine how long you plan on staying in your new environment.

– Scott Korbin, Coldwell Banker HPW

Scott Korbin is the Creator of The Strategic Real Estate Game Planner, designed to help property owners think through this important Decision Making Matrix.

With homes under $500,000, there could be 10+ competing offers 3-10% over list price. How do you get your dream house?

1. Be clear on what you want; don’t negotiate if you’re unsure

2. Be first to see it

3. Have your broker conduct a thorough market analysis

4. Make an offer at least 1% over list price

5. Avoid contingencies

6. Pay .25% per week in due diligence fees, and minimize diligence period to a maximum of two weeks

7. Have financing in place; offer cash if possible

Ultimately, be the most eager to buy the house.

– Scott Korbin, Coldwell Banker HPW

North Carolina continues to attract successful brands.

Wegmans is ranked as one of the top supermarket chains in the country and North Carolina is in their sites. It’s making a strong push into the north Raleigh market. Their first target is the Triangle with short term leads into Charlotte. They enter markets opening a minimum of three stores at once. Specifically they are looking at potential locations between Chapel Hill, Durham, northwest Cary, east Cary and Midtown Raleigh areas. The goal is to open at the end of 2017.

Locations typically run between 80,000 and 140,000 square feet.

– Moss Withers, NAI Carolantic