Providence Downs South of Marvin provide an ideal custom home community in the greater Charlotte Real Estate region! Providence South is the ideal model home community!
Custom builders in the greater Charlotte area all wanted to show their talents in Providence Downs South. Search the current listings in Providence Downs South!
Discover luxury living in Union County just south of Ballantyne and South Charlotte! You will be pleased you decided upon Providence Downs South for you and your family.
Monday, January 21, 2013
Saturday, January 05, 2013
South Charlotte Homes for Sale
South Charlotte Real Estate is one of the most popular placed to call home within the greater Charlotte Real Estate market! So what is the breakdown of South Charlotte Homes for Sale? Southern section of Charlotte consists of the Myers Park region, the Southpark area, the Providence area and finally the Ballantyne area.
Each area in South Charlotte has various appeals. The Myers Park area is an older more established area of Charlotte. The Myers Park Schools have an outstanding reputation for high academic standards and Myers Park is very convenient to uptown Charlotte.
The Southpark area is centered around the Southpark Mall. Southpark has evolved into an employment center with an abundance of Corporate offices.
The Providence Area is south/southeast of Southpark. The Providence area is basically focused around the Providence High School area of CMS Schools. The Providence area is primarily a residential area but does cross over hwy 51 east of Providence Rd.
The Ballantyne area is basically the area of South Charlotte south of I-485, east of Pineville and west of Providence rd all the way to the Union County border to the south. Ballantyne began as a subdivision in a hunting preserve and has now become a thriving community that has transformed the very rural southern border of Charlotte into a thriving Country Club life style! South Charlotte Houses for sale will be the best purchase of your life!
South Charlotte Homes for sale will remain one of our most popular Charlotte Real Estate addresses. A place you will be proud to call home!
Each area in South Charlotte has various appeals. The Myers Park area is an older more established area of Charlotte. The Myers Park Schools have an outstanding reputation for high academic standards and Myers Park is very convenient to uptown Charlotte.
The Southpark area is centered around the Southpark Mall. Southpark has evolved into an employment center with an abundance of Corporate offices.
The Providence Area is south/southeast of Southpark. The Providence area is basically focused around the Providence High School area of CMS Schools. The Providence area is primarily a residential area but does cross over hwy 51 east of Providence Rd.
The Ballantyne area is basically the area of South Charlotte south of I-485, east of Pineville and west of Providence rd all the way to the Union County border to the south. Ballantyne began as a subdivision in a hunting preserve and has now become a thriving community that has transformed the very rural southern border of Charlotte into a thriving Country Club life style! South Charlotte Houses for sale will be the best purchase of your life!
South Charlotte Homes for sale will remain one of our most popular Charlotte Real Estate addresses. A place you will be proud to call home!
Charlotte Foreclosure Real Estate 2012
As we consider how the greater Charlotte Real Estate market performed for 2012 there are many factors to consider. In this particular Blog Post I am gong to focus strictly on Charlotte Foreclosures. I compare single family homes that were sold by banks, HUD, Fannie, Mae, Freddie Mac and the VA in the Carolina MLS which is Charlotte NC and all of our surrounding Counties.
First let's compare Charlotte Foreclosures sold in 2012 compared to 2010 and 2011. I think the easiest way to get a feel is as a percentage of our overall market sales. The Foreclosure Homes sold in the greater Charlotte region has been trending downward. In 2010, foreclosures consumed 28% of our single family home sales; in 2011 it was 23% and in 2012 it was 22%.
Statistically there was not much of a change from 2011 to 2012 but it is trending downward. So what does this mean to you? As the foreclosures continue to decline, the overall market values will increase (less discounted homes). I have also noted a recent trend in foreclosure listings. Many foreclosure listings are being listed at above market value when they are first coming on the market! This is odd but technically makes good sense from the seller's perspective. As the foreclosure price is slowly reduced, the seller is assured they obtained the highest possible value. This does technically help everyone and the economy as a whole.
I follow Charlotte Foreclosure Homes for Sale and document monthly the trends. I noticed that in 2012 that in January foreclosures consisted on 28% of the sales and in December it was only 22%. This is a dramatic reduction! The trend for the year is downward.
What does this mean for 2013? The presidential election is over, health care is law and taxes are now known. Business can now make intelligent decisions on hiring. This is going to be a huge factor in our economy and definitely dictate the trend. The recent trends are positive for home appreciation and interest rates are still very low. "If" you are in a position to purchase a home, now is the time. Charlotte Homes for Sale remain a great opportunity. We have a great climate, conveniently located to the beach and mountains and a vibrant business community. Welcome to Charlotte NC!
First let's compare Charlotte Foreclosures sold in 2012 compared to 2010 and 2011. I think the easiest way to get a feel is as a percentage of our overall market sales. The Foreclosure Homes sold in the greater Charlotte region has been trending downward. In 2010, foreclosures consumed 28% of our single family home sales; in 2011 it was 23% and in 2012 it was 22%.
Statistically there was not much of a change from 2011 to 2012 but it is trending downward. So what does this mean to you? As the foreclosures continue to decline, the overall market values will increase (less discounted homes). I have also noted a recent trend in foreclosure listings. Many foreclosure listings are being listed at above market value when they are first coming on the market! This is odd but technically makes good sense from the seller's perspective. As the foreclosure price is slowly reduced, the seller is assured they obtained the highest possible value. This does technically help everyone and the economy as a whole.
I follow Charlotte Foreclosure Homes for Sale and document monthly the trends. I noticed that in 2012 that in January foreclosures consisted on 28% of the sales and in December it was only 22%. This is a dramatic reduction! The trend for the year is downward.
What does this mean for 2013? The presidential election is over, health care is law and taxes are now known. Business can now make intelligent decisions on hiring. This is going to be a huge factor in our economy and definitely dictate the trend. The recent trends are positive for home appreciation and interest rates are still very low. "If" you are in a position to purchase a home, now is the time. Charlotte Homes for Sale remain a great opportunity. We have a great climate, conveniently located to the beach and mountains and a vibrant business community. Welcome to Charlotte NC!
Sunday, May 13, 2012
Charlotte Luxury Homes and Tax Values
Many are seeking Charlotte Luxury Homes for Sale and and want to know the relationship of Sales Price and Tax Values. Sales price is at today's current market value. Market Value is not necessarily the list price but actually the amount a willing buyer is ready to spend and a willing seller will accept.
Tax Value is a snap shot in time. Each County in NC assesses property values every 4 to 8 years. For Example, Mecklenburg County just reassessed Charlotte homes in 2011 and the "new tax values" are reflected in the current tax bills.
A County Wide Assessment results in a "Bulk Assessment". Basic factors are compared and the value is determined (location, price per sq foot plus adjustments). The tax assessor does not enter a home so the real values of two "apparently similar" homes can realistically have far different market values.
The owner can protest the assessment during a short period after the home is assessed. After that, the current and future owners are stuck with the assessed values until the next assessment period. Is this good or bad? Well, that depends.
If you pay substantially more than tax value, and the value you paid is realistic, then you are going to save a lot in property taxes until next reassessment. If you pay substantially less than tax value, you likely got a great deal in the price of your home. If this is the case, your tax bill will be high based on the price you actually paid but you still got a great deal!
Call today to find the ideal Charlotte area luxury home for you. I am very familiar with this market and it is an ideal time to take advantage of low interest rates and capitalize on the Charlotte Real Estate market prior to the economic turn around impacts home values!
Contact me today to learn more at rjwaite1@gmail.com or 704-770-6559.
Authored by Rick Waite
 |
| Charlotte Area Luxury Homes |
Tax Value is a snap shot in time. Each County in NC assesses property values every 4 to 8 years. For Example, Mecklenburg County just reassessed Charlotte homes in 2011 and the "new tax values" are reflected in the current tax bills.
A County Wide Assessment results in a "Bulk Assessment". Basic factors are compared and the value is determined (location, price per sq foot plus adjustments). The tax assessor does not enter a home so the real values of two "apparently similar" homes can realistically have far different market values.
The owner can protest the assessment during a short period after the home is assessed. After that, the current and future owners are stuck with the assessed values until the next assessment period. Is this good or bad? Well, that depends.
If you pay substantially more than tax value, and the value you paid is realistic, then you are going to save a lot in property taxes until next reassessment. If you pay substantially less than tax value, you likely got a great deal in the price of your home. If this is the case, your tax bill will be high based on the price you actually paid but you still got a great deal!
Call today to find the ideal Charlotte area luxury home for you. I am very familiar with this market and it is an ideal time to take advantage of low interest rates and capitalize on the Charlotte Real Estate market prior to the economic turn around impacts home values!
Contact me today to learn more at rjwaite1@gmail.com or 704-770-6559.
Authored by Rick Waite
Sunday, April 15, 2012
What is a Foreclosure Home?
Everyone hears about "Buying a Foreclosure Home" but what actually is a foreclosure home. Charlotte Foreclosures and any foreclosure is technically part of the legal process that a lender, mortgage company or bank must do if the borrower fails to pay the mortgage as promised. If a home owner does not pay the mortgage on the home, the bank begins foreclosure proceedings. The bank/lender files paperwork at the County Courthouse to begin the foreclosure process. If the home owner still does not pay, after a certain period of time the bank/lender will eventually "foreclose". This means the bank basically will force a sale of your home in attempt to get the payment that was owed.
Most homes, in today's economy, have little to no equity (home owner owes more than the home is actually worth for resale). This being the case, the lender/bank "buys back" the home at auction. The bank is now the owner of the home.
Each state dictates the exact rules and time required from initial foreclosure notice all the way up to the foreclosure auction. The home owners situation can also extend the process (such as bankruptcy, inheritance, etc).
After the foreclosure process is over, the lender/bank technically owns the home. This is what is commonly is referred to as a Foreclosure home. It now is actually a Bank Owned Home. The bank must now decide what to do with the home. The bank must go through cleaning the home, maintaining the yard, evictions if necessary (rental homes and tenants add different rules), evaluate the value and then make a decision.
If the home is worth considerably less than what is owed, the bank then looks at the insurance policy (bank's insurance policy). This is often with HUD, Fannie Mae, Freddie Mac or the USDA. The bank may return the home to the Insurer or simply have the home listed by a Realtor and have it placed for sale.
This is often what is referred to a Foreclosure Home. The previous owner lost the home through foreclosure. Most homes that go through foreclosure were not well maintained by the previous seller and not in the best condition. The lender/bank adjusts the price accordingly. There are many great deals when buying foreclosures but the amount of the discount varies dramatically based on the overall real estate market that the home is located.
For example in the Charlotte Real Estate market, there are some neighborhoods were 30 to 40% is common and others where 10% is more typical. It is based on the demand. The general rule/reality is "the less demand for home owners to live in a given neighborhood, the deeper the discount".
Visit Charlotte Real Estate and learn what the greater Charlotte region has to offer and consider Charlotte Homes for Sale as you look to purchase Foreclosure homes for sale!
Most homes, in today's economy, have little to no equity (home owner owes more than the home is actually worth for resale). This being the case, the lender/bank "buys back" the home at auction. The bank is now the owner of the home.
Each state dictates the exact rules and time required from initial foreclosure notice all the way up to the foreclosure auction. The home owners situation can also extend the process (such as bankruptcy, inheritance, etc).
After the foreclosure process is over, the lender/bank technically owns the home. This is what is commonly is referred to as a Foreclosure home. It now is actually a Bank Owned Home. The bank must now decide what to do with the home. The bank must go through cleaning the home, maintaining the yard, evictions if necessary (rental homes and tenants add different rules), evaluate the value and then make a decision.
If the home is worth considerably less than what is owed, the bank then looks at the insurance policy (bank's insurance policy). This is often with HUD, Fannie Mae, Freddie Mac or the USDA. The bank may return the home to the Insurer or simply have the home listed by a Realtor and have it placed for sale.
This is often what is referred to a Foreclosure Home. The previous owner lost the home through foreclosure. Most homes that go through foreclosure were not well maintained by the previous seller and not in the best condition. The lender/bank adjusts the price accordingly. There are many great deals when buying foreclosures but the amount of the discount varies dramatically based on the overall real estate market that the home is located.
For example in the Charlotte Real Estate market, there are some neighborhoods were 30 to 40% is common and others where 10% is more typical. It is based on the demand. The general rule/reality is "the less demand for home owners to live in a given neighborhood, the deeper the discount".
Visit Charlotte Real Estate and learn what the greater Charlotte region has to offer and consider Charlotte Homes for Sale as you look to purchase Foreclosure homes for sale!
Thursday, January 19, 2012
Charlotte Short Sales Tips
I visited the Charlotte Court House again this week. One crucial thing that many agents neglect are the Hearing dates for pending foreclosures for their greater Charlotte Short Sales that are under contract.
I have a couple of Charlotte Short Sale listings that are under contract. The court dates are very important; communication is essential. I spoke at the hearing and request an extension so that we have time to close on homes already under contract. The courts are very flexible and very much prefer you to sell your home on a short sale. Again, the key is communication. But doesn't the "foreclosing bank" already know there is a foreclosure and control the dates?
Yes, the bank is very much aware of the pending dates. The best way to understand a process is to stand in someone else's shoes. The lender has a Foreclosure Department and a Short Sale Department (the actual department names vary but their primary function is the same).
The departments operate independently. The foreclosure department has a checklist to follow to assure all processes and procedures are followed. Many short sales fall through due to buyers losing patience and walking away from the deal. "IF" the short sale employee tells his employer to hold off on the foreclosure and then the deal falls through, then the employee lost more money for the bank (by postponing the foreclosure and to get the bad debt off of their books).
As a Charlotte area Realtor, I attend the hearings to assure no deal falls through the cracks. I have not been told by the Short Sale Departments that my interaction helps them but ultimately, it helps assure that a short sale actually happens.
Charlotte area Homes for Sale have many short sales and foreclosures in addition to new homes and resales. Each sector of the market is unique. The most popular areas and price ranges sell quickly (and very near list price). Homes in more challenged areas/neighborhoods take longer to sell. It all depends. If you are considering a short sale, call your lender first and then call me, Rick Waite at 704-770-6559. Honesty is essential; it is a process and I will help you understand the process and help sell your home.
Visit Charlotte Real Estate to learn more about me and anything about the greater Charlotte Real Estate market!
I have a couple of Charlotte Short Sale listings that are under contract. The court dates are very important; communication is essential. I spoke at the hearing and request an extension so that we have time to close on homes already under contract. The courts are very flexible and very much prefer you to sell your home on a short sale. Again, the key is communication. But doesn't the "foreclosing bank" already know there is a foreclosure and control the dates?
Yes, the bank is very much aware of the pending dates. The best way to understand a process is to stand in someone else's shoes. The lender has a Foreclosure Department and a Short Sale Department (the actual department names vary but their primary function is the same).
The departments operate independently. The foreclosure department has a checklist to follow to assure all processes and procedures are followed. Many short sales fall through due to buyers losing patience and walking away from the deal. "IF" the short sale employee tells his employer to hold off on the foreclosure and then the deal falls through, then the employee lost more money for the bank (by postponing the foreclosure and to get the bad debt off of their books).
As a Charlotte area Realtor, I attend the hearings to assure no deal falls through the cracks. I have not been told by the Short Sale Departments that my interaction helps them but ultimately, it helps assure that a short sale actually happens.
Charlotte area Homes for Sale have many short sales and foreclosures in addition to new homes and resales. Each sector of the market is unique. The most popular areas and price ranges sell quickly (and very near list price). Homes in more challenged areas/neighborhoods take longer to sell. It all depends. If you are considering a short sale, call your lender first and then call me, Rick Waite at 704-770-6559. Honesty is essential; it is a process and I will help you understand the process and help sell your home.
Visit Charlotte Real Estate to learn more about me and anything about the greater Charlotte Real Estate market!
Sunday, November 27, 2011
Is it possible to get 100% Financing on a Mortgage?
Many people still would like to buy a home but have been unable to save up enough money for a down payment plus closing costs. In today's mortgage environment the FHA loan is a popular option. An FHA loan requires 3.5% down payment in addition to closing costs and funding fees. This can be a challenge for some but it is still a great option.
There are VA loans for our Veterans. Our Veterans are familiar with these loans which will provide 100% financing but there is a large funding fee required.
How about another 100% Mortgage Loan? The USDA Mortgage loan still provides 100% of your mortgage. In addition the USDA Mortgage Loan can include most of your closing costs in the loan! How does this work and who qualifies?
First, the USDA Mortgage program is from the United States Department of Agriculture. This program provides mortgages for rural properties. There is a USDA map that dictates what areas are still considered rural and which areas do not qualify. There are also income limits; the program is intended to help home owners get into home ownership. How does this program still exist? Does any properties in or around Charlotte qualify?
The USDA Mortgage program still survives. The people borrowing in the rural communities help because they continue to pay their mortgages. In addition, many rural areas were benefited by a very stable housing market (not subject to the steep rise and falls of major cities).
There are still areas both east and west of Charlotte (still within the city limits) that qualify in addition. There are naturally many surrounding areas that also qualify. How does some of the city of Charlotte qualify as rural?
Charlotte NC is still a new and developing city. The area has changes tremendously over the past decade. Many of the areas that qualify today will not qualify 5 or 10 years from now. Ultimately, they qualify today and it is a great option for purchasing a Charlotte home.
As a Charlotte Realtor, I make it my business to understand all options that help you own a home. I do not want you over extended into a mortgage you realistically can not afford; nor do I want to see someone feeling trapped renting when they can actually own their own home.
Contact me at rjwaite1@gmail.com, 704.770.6559 or visit one of my Charlotte Real Estate websites; discover all of your options and lets consider the best Charlotte Homes for sale for you and your family!
There are VA loans for our Veterans. Our Veterans are familiar with these loans which will provide 100% financing but there is a large funding fee required.
How about another 100% Mortgage Loan? The USDA Mortgage loan still provides 100% of your mortgage. In addition the USDA Mortgage Loan can include most of your closing costs in the loan! How does this work and who qualifies?
First, the USDA Mortgage program is from the United States Department of Agriculture. This program provides mortgages for rural properties. There is a USDA map that dictates what areas are still considered rural and which areas do not qualify. There are also income limits; the program is intended to help home owners get into home ownership. How does this program still exist? Does any properties in or around Charlotte qualify?
The USDA Mortgage program still survives. The people borrowing in the rural communities help because they continue to pay their mortgages. In addition, many rural areas were benefited by a very stable housing market (not subject to the steep rise and falls of major cities).
There are still areas both east and west of Charlotte (still within the city limits) that qualify in addition. There are naturally many surrounding areas that also qualify. How does some of the city of Charlotte qualify as rural?
Charlotte NC is still a new and developing city. The area has changes tremendously over the past decade. Many of the areas that qualify today will not qualify 5 or 10 years from now. Ultimately, they qualify today and it is a great option for purchasing a Charlotte home.
As a Charlotte Realtor, I make it my business to understand all options that help you own a home. I do not want you over extended into a mortgage you realistically can not afford; nor do I want to see someone feeling trapped renting when they can actually own their own home.
Contact me at rjwaite1@gmail.com, 704.770.6559 or visit one of my Charlotte Real Estate websites; discover all of your options and lets consider the best Charlotte Homes for sale for you and your family!
Subscribe to:
Posts (Atom)