Waxhaw NC Passes Liquor by the drink!

As the greater Charlotte region continues to evolve our suburbs are also experiencing a huge influx of new ideas. Waxhaw North Carolina just passed a law to allow liquor by the drink. This may sound odd to many but there are no bars in Waxhaw and no alcohol sold in restaurants. Waxhaw NC has been and maintained itself as a small little country town and wanted to preserve their character. Yes, there were several powerful groups also assuring "liquor by the drink" was defeated.

The issue was placed up for a vote once again and the vast majority voted to approve the measure. Will this change the quality of life in Waxhaw and how will this impact Waxhaw Real Estate?

There are a lot of new residents in Waxhaw and the new comers likely now out number those that were born here. Liquor by the drink is not actually stopping people from drinking; they are just spending their money in surrounding areas. Now that money will remain in Waxhaw. Waxhaw Homes are likely to experience an increase in demand. I share this because I have had clients moving "from" Waxhaw because they were so disgusted that they could not stop and have a beer locally.

Waxhaw is a great town and a great place to call home. Visit Waxhaw Real Estate to learn more about our fantastic little town.

Charlotte Foreclosures can still beat the November 30th Deadline!

First time Charlotte home buyers can still buy Charlotte Foreclosures and still received the $8,000 Federal Rebate/Refund the has been proven. Charlotte Short Sales will likely not be able to close in time to qualify for the November 30th deadline son Charlotte NC Foreclosures are the only option in Charlotte NC.

Learn more about Charlotte Foreclosures, Charlotte Short Sales and so much more at Charlotte NC Real Real Estate to discover the unique homes throughout our greater Charlotte real estate market.

Charlotte Real Estate and Charlotte NC Weather

As the north begins feeling the fall chill in the air, Charlotte continues its pleasant weather patterns. Our evenings are getting cool into the upper 40's and our day time highs are pleasant upper 70's and lower 80's. Absolutely delightful. How does that impact Charlotte Real Estate?

The Charlotte NC Real Estate market does not stop in the fall and winter but continues driving forward. The desirability of our climate just increases the passion fro Charlotte Homes. The Charlotte Property market slows in the winter but there are still many people realizing that it is still time to relocate to Charlotte.

What can you expect for our winter? If you anticipate one snow fall and one ice storm a year then you will witness a bad winter. Our snow fall (averages about 2 inches) will typically be melting by 10:00 in the morning. Charlotte Schools will be closed with any snowfall. If you think about this it makes sense. If the school bus drivers only see snow once a year they will not be accustomed to diving in snow. One accident would not be acceptable for our kids so it is better safe than sorry.

It is always a good time to visit Charlotte and discover the Charlotte home that is waiting for you and your family. Learn more about Charlotte Real Estate -Charlotte NC Homes for Sale today! Buy now before the national economy creates too much demand and the prices will continue to increase.

Charlotte Foreclosures

Charlotte foreclosures are in huge demand especially for first time home owners. In order to receive the $8,000 tax credit you must not have owned a home within the past 3 years (if married this rule applies to both of you). The home must close before December 1, 2009 so first time home buyers must make their decisions soon.

Foreclosures typically allow you to purchase a larger home for less money. Charlotte is a major city (relatively speaking) and has a huge variance within the Charlotte foreclosure market. There are many new home neighborhoods that were primarily occupied by investors/renters and sub-prime loans. Many of these neighborhoods are already being transformed since the lending standards have changed. Is this good or bad?

I will say that Charlotte Real Estate is going to be much stronger as a result and Charlotte foreclosures will be short lived. Yes, there will be additional Charlotte foreclosures based on past decisions (no equity in the current Charlotte NC Homes due to 100% financing). But the transformation is already under way.

Charlotte Real Estate is in demand and now only "A" credit people can relocate to places like Charlotte. This is not to disparage anyone with "B" credit but "B" credit home buyers really should work out their situations so that when they actually can buy a Charlotte home their habits and life style assure they can afford the home and have a better life like they had intended.

Ultimately there are some decent deals out there for those prepared to purchase a home; Charlotte Foreclosures, like any foreclosure home buyer always assumes some risk. Your discount is based on the risk assumed.

Learn more about the foreclosure market at Charlotte NC Foreclosures or call me directly at 704.770.6559 and visit Charlotte NC Homes for Sale to learn about the greater Charlotte area.

Charlotte Foreclosures

Charlotte Foreclosures are still offering a great opportunity for buying your Charlotte home. There are several challenges to these homes; first and foremost is home financing. Banks have already discounted the homes since it is a foreclosure. The bank is not in the repair business so that is why the homes are discounted below market value. The home is sold "as is".

If you are purchasing a home via an FHA loan, then you will likely be excluded from the foreclosure market. The majority of banks/mortgage companies will not accept FHA mortgages. The banks have learned that a large portion of these never close because the home inspection. The home inspection will find defects (that is why it is "as is") and then the repairs must be made prior to FHA funding.

So the option of only paying 3.5% down payment is gone. What is next? The next loan program is 95% financing. It is incredible to see but lenders are still making 95% loans. The Charlotte Real Estate market, as a whole, remains strong enough that the lenders are reasonably assured that the values will not drop in the near term. Yes, you must have a very good credit score, two years of tax returns and then the money for the down payment. If you want to take advantage of the first time home buyers tax credit you may want to consider this option.

Learn about the real options prior to searching for home in Charlotte. Visit Charlotte Real Estate -Charlotte NC Homes for Sale and learn about Charlotte and our great suburbs.

Providence Downs South Homes for Sale

The best deal in Charlotte NC Real Estate at this time is for the million plus dollar homes. Providence Downs South in Marvin NC is a great example. Providence Downs South is a huge development with million dollar custom homes. Marvin NC Real Estate is across the Mecklenburg County border (in South Charlotte NC) into Union County. The location could not be better; convenience to shopping, restaurants, entertainment and Union County Schools.

Providence Downs South Homes for Sale are a showcase for custom home builders. Builders each competed with one another to demonstrate their finished product. Many buyers, realizing the prestige and value in Providence Downs South purchased homes. Many of the custom builders built model homes in Providence Downs South.

When the housing market had the downturn, our million dollar market slowed way down. There were already and abundance of these homes in the various building stages. What is a builder to do? Stop everything until the economy improves? Accept that what you are building has the value so continue moving forward? Assume the economy will pick up before you are finished?

Most of the builders had homes that were already too heavily invested to stop. The market slowed and the new home surplus began to increase. There are many deals in Providence Downs South for almost 1/2 off. Homes that sold for $1,400,000 are being sold in the $800's. All of them? No.

Many owners that need to relocate once again are still listing their homes at fair market value. What do you mean? The homes being sold in the $700's and 800's are actually selling for less than the cost. Why are these great deals?

Home buyers are trying to float the mortgage for a couple of years to enjoy the $700,000 in equity either for their future resale. Regardless of your position is will have a lot of equity to enjoy. Charlotte Real Estate is here to stay! Visit Charlotte Real Estate - Charlotte NC Homes for Sale for your home search and to learn more about the greater Charlotte Real Estate Market.

Charlotte Real Estate Trends

Today everyone is looking for a great deal! There are great Charlotte NC Homes for sale but you need to have an understanding of our economy to find the best priced properties. How can you tell?

First, I always recommend to trust your "informed" instincts. Realize that all real estate is local. A home is discounted to a list price lower than New York is not necessarily a deal. If you are seeking to move into the 10% least expensive homes in Charlotte, this is similar moving into the bottom 10% of the any city. This does not make the areas "bad". This just means you find similar environments in the least expensive neighborhoods in any city. There is no difference. I just want you to realize beforehand that you are selecting to relocate your family into the bottom 10% of Charlotte NC Real Estate.

Now there are great deals in the high dollar market. You can also purchase a home there way below the cost of building the home. The difficulty is that these homes are harder to finance with Jumbo mortgage rates and the escalating foreclosure rates. If you can afford one of these homes then you stand to make hundreds of thousands in a couple of years.

Ultimately, you need an excellent Realtor to help you find your ideal home. What type of neighborhood are you seeking? Are you seeking a rental neighborhood? What time frame are you hoping to regain the equity? Are you on a 2 year plan or a five year plan? There are variables but experience helps minimize foreseen risks. Call me today and I can help or visit Charlotte Real Estate Charlotte Foreclosures for additional insights into our market.

Charlotte Land For Sale

Many buyers are seeking Charlotte Real Estate with several acres. Yes, as Charlotte continues to grow this becomes more and more of a commodity. many people do have trouble understanding the value of land. Yes, it is confusing but if your are seeking such real estate then you really need to understand the market value of Charlotte property.

Let's say that you have 5 acres of land in Charlotte. This could be one home. Let's assume it will be in an area with million dollar homes (such as Myers Park or Ballantyne).  The value of a lot would be closer to $1,000,000 with an older home with a value of $200,000.  The seller is not going to "sell" the property based on the value of the home.  You will be paying the premium for the land. 

Typically, the value of the land (when properly utilized) is 20% of the total value of the expected/typical home in the immediate area/neighborhood.

A single lot in South Charlotte sells for about $200,00.  That could be for a lot as small as .5 acres!  If that 10 acre parcel could support 20 homes than the lot would be valued at 2,000,000! Now if you owned 10 acres of land with a small farm house, would you sell it for $200,000 or $2,000,000?  Keep in mind that $200,000 a lot is typically for after the land is developed and ready to build.  You can not expect the buyer to pay developed lot priced for raw land but the value is there.

Now keep in mind that Charlotte Real Estate property value is based upon "current" market value of the land. What would a willingf seller be will to accept ad a willng buyer be willing to pay for the property?  Prices for Charlotte Land for Sale vary dramatically; the actual sales price is based on many factors.  I can help sort through the complexity of varying land values in the greater Charlotte Real Estate market. Call Rick Waite @ 704.770.6559 or visit Charlotte Real Estate and together we will deterime a fair price you could expect to receive when selling your property.

Charlotte Foreclosures

As the Charlotte Real Estate market continues to evolve the builders are evolving with it. The sub prime neighborhoods are going through a rough transition at the moment but there will definitely be opportunity here in the not so long term. Since the builders were "stuck" in many of these sub prime neighborhoods they stopped building. Basically the supply outpaced the demand (nor sub prime lenders). Charlotte New Home Builders stopped building and now the neighborhoods are transitioning. The investors lost a mint. This occurred because investors accelerated the problem. They purchased new homes in these neighborhoods and added renters into the new neighborhoods. Many renters do not care and destroy the homes and the neighborhoods follow.

As they investors leave along with the sub-prime borrowers, a new and more stable Charlotte neighborhood is taking root. Charlotte Foreclosures spell opportuinty!  Who would have guessed the lack of mortgage availability would improve our real estate market but it really is. Home ownership is still available to anyone but you now actually must be responsible and pay your bills.

The demand for Charlotte homes is still very strong and the best deals sell quickly. Visit my Charlotte Real Estate website today and begin learning about our great city.

Charlotte NC Quality of Life

Many people are familiar with all of the great opportunities surrounding Charlotte but there is much more.

Did you know the first American Gold Rush was in North Carolina? Did you know is was in the neighboring counties to the east of Charlotte? Visit Gold Hill NC or the Reed Gold Mine.

Did you know there was a Native American Reservation in Rock Hill SC? The Catawba Indian Reservation is just south of Charlotte NC.

Did you know US President Polk was born in Pineville NC?

Did you know US President Andrew Jackson was born in the Piedmont of the Carolinas? There is a question whether he was born in North Carolina (Waxhaw) or in neighboring SC in Indian Land.

Did you know the town of Waxhaw is named after the Waxhaw Indians and the tribe is technically extinct? The remaining survivors were absorbed into the Catawba Indian tribe.

Indian Land SC was the home of the Catawba Indians but there are no reservations in Indian Land.

Did you know Indian Trail NC was the old wagon trade route in the 1700's?

There are many things to learn about your new Charlotte home. History is all around and ready for you to explore. Search Charlotte area homes at Charlotte NC Homes for Sale. There is no need to waste any more time.

Charlotte Condos - Charlotte Townhomes

Charlotte Condos for Sale experienced explosive growth over that past several years. The main area of growth was in uptown Charlotte NC. Charlotte planning realized that a great city needs to keep the uptown workers close to town to aide the local economy. Charlotte observed that other cities lost economic activity at night when the workers went home to the suburbs. Center City Charlotte made great strides so that uptown Charlotte remained vibrant after dark. Charlotte began by attracting entertainment venues into the city. This included the arena, the football stadium and various other venues such as the Nascar Museum. The restaurants and night clubs followed suit as did the young professionals. Charlotte Condos began to thrive as the national excitement grew about Charlotte Real Estate.

Today the market has cooled due to the national economy. Crisis means opportunity! There are currently a great deal of Charlotte Condos being sold at lower prices than new! This is a fantastic deal since Charlotte will inevitably continue to grow. How can you really tell that Charlotte will continue to grow? Talk to people. Do not just follow the media like sheep but speak to people who actually live here. Ask them what they think. Ask them if they have family or friends relocating to Charlotte in the future. Just ask.

You will find that the growth in Charlotte is not due to the media but by real people visiting and realizing how nice it is to live here. You will discover this also. I would hope you question every resource. The best way to gain an impression of an area is to speak to someone who is thinking like you but a few years ahead (they already moved). Do not stop at just one person. Ask people at breakfast, out shopping, or in a coffee shop. You will quickly realize what is happening as Charlotte Homes for Sale continue to multiply!  The time to buy a Charlotte home is today! The prices are only going up along with the interest rates.

Charlotte NC Home Tax Values

Many people continue to get mired in the "Assessed tax value" of Charlotte Real Estate. North Carolina and South Carolina Real Estate is assessed every four to eight years and each county decides when to assess. The assessments are all made together as a "mass assessment". This means they compare like properties in a very general sense by type of home, heated living area and garage. It is a little more detailed but not much. For example, if you have a home that is in extreme disrepair compared to one that is completely updated, it is likely that they will have the same assessed value if they are similar in square footage and in the same neighborhood. Do they really have the same market value? Of course not. Does te owner of the run down home realize that his home was over assessed? Typically not because he is delighted that his home is worth more than he thought.

Next consider time. What were the prices in the neighborhood four or five years ago? The only reason it matters is because you can see if the neighborhood is generally trending upward or downward since last property tax assessment. Here is a good way to elate to this issue:

Consider the Dow Jones Industrial Average. If you were purchasing a share of the DOW, would it really matter what it was worth four or five years ago? All that would tell you is that the value has appreciated or depreciated since then. That trend may change but you at least can use the history as a guide. Would you expect to pay the price of the stock four or five years ago or would you expect to pay current market value? Charlotte homes are the same.

How do you assess current market value? Market value is determined by what the market eill support. The best indicator is how much has a ready, willing and able buyer pay for a similar home today. We look back three months to help determine market value.

Visit Charlotte NC Homes for Sale to learn more about the greater Charlotte Real Estate region.

Charlotte Builders Continue to Merge

Two national builders merged this past week. Pulte, the owner of Del Webb Senior Communities and Sun City Carolina Lakes south of Charlotte Real Estate, has purchased/merged with Centex. Centex Home Builders was based out of Texas and had large land holdings in both Texas and the Carolinas. This was appealing to Pulte based on the demographic trends and the baby boomers. New Homes nation wide and especially the Charlotte new homes market will flourish with senior homes.

Pulte homes tended to focus more on seniors and I am certain they will continue on this successful business plan as lending rules constrict. As lending rules tighten (or actually just become practical and cost effective) who has equity, credit and money? Seniors! It will be prudent to structure developments to cater to the seniors as they retire and continue to move south for lower taxes, less expensive homes and a warmer climate.

Centex was building new developments and were riding the trend of larger and larger homes. As credit tightened, much of their market could not sell their homes out-of-state and business slowed. Pulte capitalized on this opportunity. Every crisis provides opportunity for those positioned well for the current trends and demands. Pulte Homes is that company.

Visit Charlotte NC Homes for Sale to learn about the great Charlotte Real Estate Opportunities. Yes, our market has slowed due to the national downturn. but it is still the best place to buy a home. People all around the nation have the desire to relocate to Charlotte Real Estate just to not have the financial liquidity to capitalize on the current opportunity. Be assured their plans have not changed; merely placed on a temporary hold. The opportunities of today will be gone very soon. If you are fortunate enough to capitalize on this financial downturn, Charlotte NC Real Estate awaits.

Charlotte Real Estate and the Charlotte Condo Market

There are many people seeking a solid Charlotte real estate investment but a single family home does not fit your lifestyle. Some of these people include seniors, single professionals and young couples just starting out and tired of paying rent.  Charlotte Condos for Sale may be what you are seeking. There are several caveats to consider as you discover the Charlotte Condo market.

Charlotte is still a very new city. The condo market in Charlotte NC is still in its infancy. Many developers/investors did not do much research and just threw in their cash. Not a wise move.

You must first consider your market niche and decide why would a person want a condo in this location. Condos are to offer a more affordable home or convenience. Convenience is to either work and or night life. Condo developers swarmed in uptown Charlotte a couple of years ago without noting that the rate of condo development was far exceeding demand. Ultimately this challenged outer area condos because uptown Charlotte Condos were all the rage.

The rage has subsided and now many Charlotte Condo investors are holding onto empty condos. There will be many deals on uptown Charlotte Condos but please consider call of the expenses prior to buying. I do not share this to take you away from the condos but please consider these a longer term investment and be assured it is affordable for your budget. I do not want you to repeat the process that has occurred in uptown.

There are also areas where condos make a lot of sense. For example consider Piedmont Row in Southpark. Piedmont Row is a very nice complex with a great location in Southpark. Since Southpark attracted thousands of professionals that spend a couple of weeks a month at this office. These Southpark Condos are designed with you in mind. Due to the over development of Uptown Condos, many condos in outer areas (such as Southpark) did not see much activity over the past several years.

The areas such as Southpark will be ideal to take advantage of the slower market there. You can purchase condos below market value and be comfortable that you investment will appreciate over the next 5 or so years. These outer areas will recover much faster than uptown. Uptown Charlotte condos will take a while before our population meets the supply. In the mean time many of the 'investors' will let these homes go back to the bank.

Opportunity is all around. You just need to trust an expert that has your shared interest first. Visit my Charlotte Real Estate website for additional information of the greater Charlotte NC Homes market.

Union County Real Estate and Union County Schools

Union County continues to grow and Union County must adjust the school borders to adjust for the current population. The New Cuthbertson Schools (middle and high) are opening in 2009/2010. Union County Real Estate maps are now constructed to allow for the new students to attend. Each new school creates new real estate opportunities. The New Cutbertson schools pulled students from Weddington Real Estate, Marvin Real Estate and Waxhaw Real Estate. Many Union County NC Homes within this new area will experience an increase in demand due to the excitement of the new school. This is good news for the vast majority of residents because their Union County Homes will increase in value.

The Sun Valley High School, further east in Indian Trail, is beyond capacity and needs to lighten some of the student burden (according to county officials); each student deserves a comfortable learning environemnt and each teacher should have manageable classroom sizes.  Any redistricting is met with oppositiion which is understandable.  Most buyers purchase homes based on their "current" school assignments.

Ultimately there are many difficult decisions to be made as the greater Charlotte Real Estate area continues to grow. I understand the concern of home owners and I do everything possible to assure you find the home in an area with schools of your choosing for your new Charlotte Home.

Charlotte New Homes: Where are the deals?

One of the beautiful things about moving to Charlotte NC is that Charlotte New Homes for Sale are still affordable. Nothing beats the excitement of having a brand new Charlotte Home where you personally select all of the features that you desire in a home. The downside to the new home building process is that life often changes before the home is even complete. Is this a downside or an opportunity? It depends on your perspective.

The rapidly evolving Charlotte Housing market is causing grief for builders. As the lending rules evolve so does the odds of the Charlotte New Home buyer. As the credit tightens many potential Charlotte New Home owners can no longer buy their dream home. Please be certain that you exceed the current credit rules if you are purchasing a new home. The lending rules/criteria are changing all of time. There is no way to know what the rules will be six months from now.

So what happens to the new home after the buyer can no longer get financing? This is not good for the Charlotte builder. In today's economy, builders are not building spec homes (also known as inventory homes). It simply takes too long to sell a spec home and it is not a viable business plan. So now what? The builder is in the same position as the potential buyers are today. There is no way of knowing with any degree of certainty what tomorrow will bring. Builders will discount these brand new homes to eliminate the risk and to free up their financial resources for new buyers. Yes you can purchase a discounted brand new Charlotte home. The down side is that you will not be able to select everything that you wanted but you can receive unheard of discounts of 20% or more!

As the economy changes these Charlotte NC Homes For Sale will not be discounted much longer. Springtime is always a more active real estate time period so the wise money is buying now. As the spring market heats up these discounted properties will be no where to be found.

Visit my Charlotte Real Estate website today and learn more about Charlotte NC Homes For Sale.

Charlotte Foreclosures-Charlotte Short Sales

Many home buyers in today's Charlotte Real Estate market are looking for a deal. Well a steal would be more like it. As the banking industry deals with the national foreclosures they are also dealing with the homes that was considered collateral.

The sub prime market gave money to many that had no reason to ever own a home. Lending money to a person for a home that already has a history of not paying money back is not a sound business plan. Now we get Charlotte Short Sales and Charlotte Foreclosures.

From a bank's perspective a Short Sale is preferred. A short sale is a home that is already delinquent several months on payments (that is why a bank agrees to a short sale) and is willing to take less than what is owed. The bank also knows that there are more expenses to go through the foreclosure process and frequently the highest cause is the damage done by the person that was not paying the mortgage in the first place.

A Foreclosure home is often beyond just disrepair. I have seen them completely gutted to include the removal of entire kitchens, bathrooms (including all plumbing), HVAC units, furnaces and hot water tanks. I have seen them with the electrical panel removed and all of the House wiring severed.

The difficulty with a Short Sale is the "mortgage company" typically is insured by the Government (since the Government mandated the loans) and the bank is overwhelmed in this department. The Short Sale department represents a loss for the institutions. It is difficult to keep throwing more money after bad loans. The process is further complicated by the 2nd mortgages since the second mortgage holder bears the brunt of the losses.

You must get two "overloaded" departments to agree on a course of action, a fair price and who takes what loss. Are there deals to be had? Yes, but patience is required.

There are Charlotte Short Sales and Charlotte Foreclosures to be had. Keep in mind that the same rules apply to foreclosures as it does to regular homes. The homes for sale in the most desirable Charlotte NC Homes in the highest demand areas will also get the highest price for a Charlotte Foreclosure. The reverse is also true.

Visit Charlotte NC Homes For Sale to learn about the various areas surrounding Charlotte Real Estate and together we will find the best deal for you!

Charlotte NC Homes For Sale

What a time to buy! Charlotte NC Homes For Sale are still selling but many Charlotte Homes are selling at prices they were 2 years ago! This is incredible for the Charlotte Real Estate market. Yes, it is true that Charlotte Realty has always been appreciating at a steady pace unlike many other markets that experienced the unrealistic and unsustainable price surge. There are certain areas in Charlotte that you can really save but the Charlotte Homes with the biggest savings accompanies the Charlotte Homes with the largest risks. But that is to be expected (that is why certain homes are not selling and why the sellers are providing deep discounts).

The Charlotte starter home neighborhoods are going through a series of changes. Many of these homes were purchased by Charlotte New Home Buyers that were not economically prepared to own a Charlotte home. In addition to these high risk buyers, many national investors also jumped into these Charlotte neighborhoods. Charlotte Real Estate investors came from across the nation to tap into the popularity of Charlotte Real Estate but had no idea what they were buying, where they were buying and convinced they were going to make money in spite of their lack of knowledge and familiarity of the greater Charlotte market. These investors watch too much TV.

Charlotte real estate investors felt if they purchased Charlotte new homes for the least amount of money, rented the Charlotte new home for 2 years, they could not lose. The builder warranty would take care of the vast majority of landlord duties and then the Charlotte investor would sell before any maintenance would be due. Here is the problem with that theory (what TV did not tell them).

Each investor seen himself alone making this decision. Reality is they were not alone and investors swarmed on Charlotte in mass (a great growing city at a time when financial investors were giving money to anyone with a pulse). Investors then turned these new Charlotte neighborhoods into rental neighborhoods. The Charlotte Investor failed to consider that if someone was renting at a time when anyone could get a loan, the "renter pool" largely consisted of people that did not care about their credit (or paying their bills). This does not make the ideal tenant.

Ultimately the investors lost these homes in addition to many of the sub prime borrowers. As mortgages in these specific neighborhoods went into default, the values declined. Are the homes worth more than they are being sold? Yes and no. Yes it would cost more to build one of these homes than the current market value. The "no" is based upon the actual market. These homes often need a lot of repairs based on a few years of blatant disregard and abuse from the previous owner and/or tenants. So how about future value?

You purchase a discounted home like you would purchase any investment. You purchase the homes with the deepest discounts because the odds are these neighborhoods will turn around and be full of proud home owners. This will take time for the right home owners to purchase these Charlotte Homes and take control of the neighborhoods. They will likely be great long term investments.

If you still plan on investing in Charlotte Real Estate be very careful if you think you are going to rent your Charlotte home out and it will be appreciating. There are simply too many investors watching the same TV. Where would I suggest investing?

If you have cash and want to invest, purchase land. The greater Charlotte Real Estate region will continue to sprawl. Americans like freedom and many Americans do not do well living cooped up in a city. As the population of Charlotte NC grows, Charlotte Property for Sale will be demanded further and further away.

If you would like to share More ideas of the greater Charlotte Real Estate market visit my Charlotte Real Estate - Charlotte NC Homes For Sale website or give me a call at 704.770.6559. I and a Charlotte Realtor and have a very good understanding of the greater Charlotte Real Estate market. I understand the Charlotte suburbs and understand the pros and cons with the greater area. Give me a call today.

Charlotte Real Estate - Mortgage Options

Many people want to relocate to Charlotte NC Real Estate but are concerned about both property values and the ability to get a mortgage. Inquiring into a mortgage can create stress because no one likes rejection. I can help you overcome these obstacles. I work with several lenders and mortgage brokers and can explain mortgages in layman terms.

What are my Charlotte Mortgage options? First, the "no money down" or 80/20 mortgages are gone. These loan products have disappeared due to the national housing market decline and high foreclosures on sub prime loans. Here is why.

Let's say your home declined 5% in value over the past year. Now you are behind on payments and going into foreclosure. If you are going into foreclosure is is safe to say that you are at least 6 months behind in payments of $6,000 (on a home of about $150,000. Now the lender hires a local attorney for the foreclosure process.

After the foreclosure the lender pays any tax liens or back home owners dues and the marketing expenses. After the home is actually sold the money is dispersed. The 2nd mortgage (the 20% of the 80/20) gets nothing because over 20% of the value was lost due to the expenses. Too many of these occurred so investors will no longer "invest" (or donate) there hard earned cash for 2nd mortgages. Ultimately they were a losing bet.

Here we are today. If you are going to purchase a Charlotte home is is safe to say you either get a FHA loan with 3 1/2% down payment or a conventional loan with at least 10% down. The FHA is a Government backed loan and there is a lot of additional Government red tape in securing this loan. As you are likely to be aware, any time the Government is involved there will be additional hoops to jump through. The FHA loans are more costly but it employs more people (also known as job creation or wealth redistribution).

The conventional loans are still possible but you will need 10% down payment, a credit score of 700+ and a debt to equity ratio of less than 35%. This will be a challenge for many "want to be" home owners but good things come to those who wait. In the long term this will actually help strengthen the over housing market and Homes in Charlotte NC. Visit Charlotte Realty and Rick Waite for additional insights into the greater Charlotte Real Estate market.

Charlotte Property Tax Values

Many people consider Charlotte Property Tax Values as an estimate of the value of Charlotte Homes. Please be careful with this rule of measure. First consider what the property tax values really are.

In North and South Carolina the homes are assessed every so many years. Homes are assessed county wide when this is done. They will be assessed no less often than every 8 years but counties can reassess more frequently.

Now what does this mean to you? When ever the homes are assessed, keep in mind the quantity of homes that are considered. This amounts to bulk assessments. A home in a given area has its value based upon "similar homes" sold recently in the area. If the sold homes were in great condition, brick, with fantastic landscaping then an older home, of a similar size will likely be assessed at a similar value. The system is not perfect by no means but the county allows you to dispute the assessment if you feel your home is over valued. Many see the assessment, think that there home is now worth more and are pleased with the imaginary home equity.

What does this mean for the seller or buyer. First let's consider the person purchasing Charlotte Real Estate. If the assessment was done 5 years ago and the home is selling for less than 5 years then you are "reasonably safe" in assuming this neighborhood is on the decline. If the sale price is a lot more than the tax value then it is likely that this neighborhood is increasing in value.

For the Seller of Charlotte Real Estate I would not place much faith in the assessments and either pay for an appraisal or rely on your Charlotte Realtor for the market value. The Real Estate Agent will focus on your particular home to assure the value is more reasonable and actually assess fair market value.

There are great deals when purchasing Carolina homes but you really need to have a thorough understanding of the facts and figures that you are using to assess value. There are also neighborhoods that have skyrocketed in value. These prices are often superficially inflated by investor demand and the values are not sustainable in the short term. Please be careful.

Visit my website for additional information and insights into the greater Charlotte Real Estate market. Call me direct if you would like me to help you find ideal Charlotte NC Homes For Sale.

Charlotte Property

Considering Charlotte Property for Sale as an investment? During these uncertain times in the economy many people are reconsidering their investment strategy.  Consider no longer!  Purchase Charlotte land!  Yes Charlotte Real Estate has been in great demand for the past 15+ years but there is still a lot of room for expansion.  So where will the expansion go?  How far out do you buy? This depends on you.

If you are looking to capitalize on the weekend/summer homes then perhaps the mountains or a lake community will be ideal.  If you are looking for shorter term investment the closer will be a better fit for you. Keep in mind that national investment companies have been purchasing Charlotte Property for Sale that expands 30 to 40 minutes away form Charlotte. These investment firms know how far out a typically city grows and realize how large the greater Charlotte Real Estate market will be.

Visit Charlotte NC Homes For Sale and find your ideal opportunity. Call me, Rick Waite today and I will help you in learning our area and finding the ideal piece of Charlotte property or Charlotte land for you.