The national real estate market is very difficult right now and the Charlotte Real Estate market, although not impacted like many cities, is finding fewer home buyers actively seeking a new home. Marketing has never been more important!
As home equity disappears, many people are looking at ways to save some of their money. Please be careful. There are many companies offering "limited service" listings. Many of these firms offer to place your home on the MLS for a flat fee. The seller pays several hundred dollars up front for this marketing. You get exactly what you pay for. It is sad to see many of the photos, the descriptions and actual marketing that the Charlotte Home Sellers have actually purchased.
Hmmm, after you pay for a job, how much customer service do you think you are to receive for free? That is typically what you get.
As a Charlotte Realtor, I take the time to discuss your personal needs. The photos are the most important. I am very aware of this fact and take the time and care to assure we present your home in the best light. You only get one chance to make a first impression!
How about the price? Do you want to list your home or would you like to sell your home? You must price your home according to current market values. Your home is an investment. Would you buy IBM stock at today's market price or would you pay the market high a few years ago? I did not check on IBM stock history but you the point is the same? We will price your home fairly and sell your home for the best price possible.
Visit my Charlotte Real Estate website or give me, Rick Waite, a call at 704-770-6559.
Thursday, August 26, 2010
Tuesday, August 24, 2010
Charlotte Foreclosures or Short Sales?
There are many great deals in Charlotte Real Estate in foreclosures and short sales. Which is a better opportunity? Charlotte foreclosures are a great deal. You do have the "negative energy" of the previous home owner which is a reality of distressed sales. What is commonly referred to as Charlotte Foreclosures are actually Bank Owned Homes. The foreclosure is actually the process in which a lender gets possession of a home when the current owner is in default.
A Charlotte Bank Owned home allows you to take possession of the home that is empty and ready for a new family to enjoy. These homes can typically close within 30 days. Many foreclosures will not qualify for FHA financing and banks will not make any repairs. Why not? Banks are in the business of lending money. A foreclosure home is "bad debt" and the bank needs to liquidate this debt. The bank needs to get the most possible for their "bad debts" but they are still discounted off of current market value. There are unfortunate situations that occur but that is ultimately part of life. We, as US citizens, are resilient and each foreclosure purchase is a step to healing our economy!
Short Sales are homes for sale when the seller owes more than the current market value. The lender must agree to accept the shortage for the decreased market value. This is a much harder process than it may appear. There are Investors that must accept the losses. The investors must volunteer to take less money. This is often very complicated to determine which investors are holding the investment/mortgage and then convince them that the Short Sale is better than a foreclosure.
A typical short sale will take 4 months or greater just to hear if the Lender/Investor will accept, reject or counter your offer. This means you, the buyer, must wait for 4 months without an answer. No one wants to wait 4 months without an answer. There are other opportunities and it is very difficult to ignore other opportunities while waiting for months.
Based on my experience, the only time you should consider a short sale is "if" you absolutely love the home. If you do not love the home, you will find a better deal before the lender considers your offer. It is an unfortunate reality in the world and the Short Sale is a very unpractical decision. It is better for the bank to go forward with the foreclosure process and clear the bad debt. This is what we need for our national economy. It does not make sense for a lender, a professional in lending and handling money, to have such a program. Hmm? Kind of makes you wonder why. . .
Visit Charlotte Real Estate to learn about Charlotte Homes for Sale, Charlotte Foreclosures and so much more.
A Charlotte Bank Owned home allows you to take possession of the home that is empty and ready for a new family to enjoy. These homes can typically close within 30 days. Many foreclosures will not qualify for FHA financing and banks will not make any repairs. Why not? Banks are in the business of lending money. A foreclosure home is "bad debt" and the bank needs to liquidate this debt. The bank needs to get the most possible for their "bad debts" but they are still discounted off of current market value. There are unfortunate situations that occur but that is ultimately part of life. We, as US citizens, are resilient and each foreclosure purchase is a step to healing our economy!
Short Sales are homes for sale when the seller owes more than the current market value. The lender must agree to accept the shortage for the decreased market value. This is a much harder process than it may appear. There are Investors that must accept the losses. The investors must volunteer to take less money. This is often very complicated to determine which investors are holding the investment/mortgage and then convince them that the Short Sale is better than a foreclosure.
A typical short sale will take 4 months or greater just to hear if the Lender/Investor will accept, reject or counter your offer. This means you, the buyer, must wait for 4 months without an answer. No one wants to wait 4 months without an answer. There are other opportunities and it is very difficult to ignore other opportunities while waiting for months.
Based on my experience, the only time you should consider a short sale is "if" you absolutely love the home. If you do not love the home, you will find a better deal before the lender considers your offer. It is an unfortunate reality in the world and the Short Sale is a very unpractical decision. It is better for the bank to go forward with the foreclosure process and clear the bad debt. This is what we need for our national economy. It does not make sense for a lender, a professional in lending and handling money, to have such a program. Hmm? Kind of makes you wonder why. . .
Visit Charlotte Real Estate to learn about Charlotte Homes for Sale, Charlotte Foreclosures and so much more.
Thursday, August 12, 2010
Charlotte Lease Purchase Agreements
What is a Charlotte lease purchase and what benefit is it to me? Hmmm? A lease purchase is actually two contract that are legally linked. There is a lease agreement drawn by an attorney and this is accompanied with an Offer to Purchase. You make an offer to purchase the home, place your earnest money deposit, rent the home for a specified time period and then purchase the home.
This permits the buyer time to get established in Charlotte and still have a home. This assures you do not move your family twice and your children remain in the desired neighborhood and the desired schools.
The new credit rules are making this a feasible option for many sellers. A Lease Option helps a buyers' family while removing the burden of a second mortgage, utilities and maintenance of the second home.
Call me for more information and to assure you are protected no matter which side you are on. Yes, if done incorrectly, there are dangers for both the buyer and seller. Visit Charlotte Homes for Sale to learn more about the greater Charlotte Real Estate region!
This permits the buyer time to get established in Charlotte and still have a home. This assures you do not move your family twice and your children remain in the desired neighborhood and the desired schools.
The new credit rules are making this a feasible option for many sellers. A Lease Option helps a buyers' family while removing the burden of a second mortgage, utilities and maintenance of the second home.
Call me for more information and to assure you are protected no matter which side you are on. Yes, if done incorrectly, there are dangers for both the buyer and seller. Visit Charlotte Homes for Sale to learn more about the greater Charlotte Real Estate region!
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