Davidson Pointe Homes for Sale

Looking for an incredible home in waterfront Davidson Pointe but do not have the time to wait for a new home?  140 Lavender Bloom Loop is on the market at only $335,000!   This charming home has custom colors and has many upgrades beyond "new".  View this fantastic home and call me, Rick Waite at 704-770-6559 today to schedule a showing!

140 Lavender Bloom Loop in Davidson

 

Davidson Pointe Homes for Sale

140 Lavender Bloom Loop for Sale in Davison Pointe

Where is Ballantyne in Charlotte?

Many people have heard about Ballantyne and wonder how to locate Ballantyne Real Estate.  Ballantyne is actually located within Charlotte NC Real Estate.  Ballantyne is not a city of a town but was designed as a planned Live, Work, Play neighborhood that began in the mid to late 1990s.

The heart of Ballantyne is in South Charlotte centered through Johnston Rd.  Ballantyne technically begins at Ballantyne Commons Parkway at the stone pillars.  Continue south on Johnston Rd and you will pass by many commercial shopping areas, past Ballantyne Country Club and then to the Ballantyne pillars at the southern border of Ballantyne at Providence Rd West.

What makes Ballantyne unique or special?  Ballantyne has largely taken the Southpark model and amplified it.  In the 1990's, Southpark was largely a residential area.  Commercial development continued to expand.  The Southpark Mall was a typical mall with standard stores as expected in a mall. 

Commercial development continued around the area and Southpark quickly became the second largest employment center of the greater Charlotte area (second to uptown Charlotte).  So what did the developers of Ballantyne do to improve upon that concept?

Ballantyne was a hunting preserve prior to being developed.  The development was still  in the distant Charlotte Suburbs (although only 10 miles geographically from uptown Charlotte or currently 17 miles driving), the area was very rural.  The Ballantyne Country Club is the central part of Ballantyne and the greater Ballantyne area reflects the Country Club Atmosphere. 

Discover the warmth and value of Ballantyne Homes for Sale today!  Contact me, Rick Waite or call me at 704-770-6559; welcome to one of Charlotte's best treasures!

Charlotte Real Estate Market for the first Quarter of 2013

The greater Charlotte Real Estate market continues to pick up steam but how are the single family homes proportioned?  The graph above depicts the 1st quarter sales for 2013 (through 4/28).  Charlotte Foreclosures consist of a large portion of our market at 24%!  Keep in mind that the vast majority of these foreclosures have multiple offers and many are selling above list price.

Charlotte Short Sales are only 6% of our market.  Many sellers still do not realize the benefits of a short sale as opposed to a foreclosure.  There are great benefits of Charlotte Short Sales for seller, the mortgage company and the buyer.  It is time to make the best of a bad situation and time to move forward.  My short sale listings are quickly under contract but we understand how to list and sell a short sale properly to assure all parties are satisfied.

Charlotte New Home sales continue to sell at an impressive pace.  Not all new home sales are listed within the Carolina Multiple Listing System but is reflective of the health of our real estate market.  Charlotte New home Sales remain at 16% of out total single family home sales.

54% of our market has been standard resales.  Our inventory remains very low and all homes are selling!  Homes prices are beginning to rise but fortunately the interest rates remain at historic lows.  it is still a great time to sell or purchase Charlotte area homes for sale!  

Waxhaw Sale Comparisons for 2013

The Waxhaw Real Estate market is heating up as the greater Charlotte Real Estate market continues to improve!  Waxhaw Homes for Sale are in zip code 28173 and include the southern portion of Weddington and all of Marvin Real Estate.  So how is Waxhaw performing so far in 2013?

As of today, March 3, 2013, there are a total of 334 available single family homes for sale in Waxhaw, 226 under contract and 129 sold so far this year.  So how does that compare?

From 2010 to 2011, the sales increase 24%.

Comparing January 1 through March 3 from 2011 through 2012, the increase was 21%. 

These gains are significant!  But how does 2012 compare to 2013?  The increase for 2013 is 35%!

Waxhaw Real Estate is on the move!  The total sales of Waxhaw Real Estate has more than doubled since 2010 (from 63 in 2010 to 129 in 2013)!

The next question is:  "How does that compare to 2007 when the market was HOT?"   Sales so far this year, 2013, are only 9% lower than the sales in 2007!  At this rate, we the Waxhaw Real Estate market is back to healthy conditions.  For those that were waiting for the "bottom", you missed an incredible opportunity!  Our market speaks volumes for the Waxhaw area.  Waxhaw is a great place to live and raise your family.  The time to make your home purchase is now.  The demand for Waxhaw Homes and home values are destined to increase!  Contact me, Rick Waite at 704-770-6559  today and let's find the home your and your family are seeking!

Homes for Sale in Providence Down South

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.

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!

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!

Charlotte Luxury Homes and Tax Values



Charlotte Area Luxury Homes

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

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!

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!

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!

Greater Charlotte Real Estate Property Tax Values

Property taxes and Assessed Tax Values of Property is a huge concern and lends to much confusion when relocating to North and South Carolina! Consider property taxes to be "market value" at a random time. What?

Let us begin with North Carolina. North Carolina requires each county to reassess values (basically to update market values) every 4 to 8 years. Naturally, the values on homes 6 or 7 years ago may be very different. Each NC County decides when and how often to assess their property. For example, Mecklenburg County reassessed for 2011. This includes Charlotte, Huntersville, Cornelius, Davidson, Matthews, Pineville and Mint Hill. The tax values should be close to fair market value of the home.

To the south in Union County, the last assessment was in 2008. This was when the economy began to falter. These values are lower than they would have been in 2007 but still not reflective of today's true market value. The County rejected a plan to reassess in 2012 so the current values will stand for at least another year.

Cabarrus County also last reassessed in 2008, Iredell reassessed in 2011 and Gaston County reassessed in 2007. Keep this in mind as you compare "list price" to "tax value". Gaston County provides a great baseline to how much the market has changed since 2007. Expect to pay closer to tax value in Iredell or Mecklenburg County but keep in mind these assessments are not actually appraisals.

Each county assesses based on "Mass Property Evaluations". There is a good possibility that certain facts are not truly factored in such as updates, recent changes, redistricting of schools and other real factors that determine property values. The assessments are typically close but do not rely too heavily. I have seen the tax records exaggerate the square footage (typically not considering 2 story great rooms and foyers) along with underestimating square footage (not realizing the basement, attic or sun room is now finished.

South Carolina Property taxes are different. The assessments are every 5 years and your primary residence has a lower tax rate than investment homes (does not impact assessed value but does directly impact your pocket book. I will leave that for a future blog.

When considering Charlotte area real estate, be sure not to weigh too heavily of tax value. Tax value can be helpful when comparing within the same county as a base line. There are many factors to consider to assure you are getting a great property value. Visit Charlotte Real Estate or Charlotte Homes for Sale to consider your understanding of greater the greater Charlotte Real Estate market!

Charlotte Real Estate Market Activity

The Charlotte Real Estate market is improving based on sales in 2010. The data in this blog is from August 1 though Sept 22nd. I wanted over a month of data and wanted information that is timely (today is September 22nd). The Charlotte Real Estate homes sold last year (2010) during the same time period has increased 22%.

August 1- September 22 2010
Foreclosure Sales: 26% of all sales
Short Sales: 4.7% of all sales
New Homes: 14% of all sales

August 1 - September 22 2011
Foreclosures: 17% of all sales
Short Sales: 5.5% of all sales
New Homes: 14% of all sales

The trends have improved over the past year in Charlotte Real Estate. Short Sales have increased slightly (in comparison to the Charlotte Foreclosures) but this is also because lenders are improving their short sale process and it is becoming more efficient.

Overall, this is very positive news for the greater Charlotte Real Estate market! everyone wants to purchase a home "at the bottom". Unfortunately, by the time you discover where the bottom "was" you missed it! Mortgage Interest rates are at historical low and Charlotte Homes are prices aggressively. It is time to buy!

Townhome in Ballantyne for Sale

Looking for brick townhome in Ballantyne? How about a 2 car garage, Master Bedroom on main floor with 3 bedrooms? Walk to shopping at Stonecrest at Piper Glen! What an amazing quality of life!

Visit the Virtual tour of 11182 Villa Trace Place and see what you have been missing!

There is a townhome for sale in the Villas of Ballantyne Trace that is sure to exceed your expectations! Enjoy the affluence of South Charlotte homes! It is hard to believe this home is listed at $245,000! It is time to take advantage of this opportunity!

The pride of home ownership is reflected throughout this home! The closets are organized with California Closets (closet organizers). The deck is incredible! This home has been maintained with quality and meticulous detail. You are sure to be impressed! Visit Ballantyne Homes for Sale to discover more about our great area!  Call me, Rick Waite today at 704-770-6559 to see this amazing home!

Charlotte Foreclosures: How much to offer?

In the Charlotte Real Estate market, clients frequenlty ask the ultimate question is: How can I purchase Charlotte Foreclosures for the least amount of money?

The first key is to be able to recognize a great deal. When a home is aggressively prices (well below the previous sale price) and well below the neighboring homes, it is likely to be a great deal. Too many times I have had buyers go against my recommendations and lose the home for a couple of thousand dollars. After the fact, (hind site is 20/20), they voice regrets that they should have listened and just paid more. It was already a great deal.

A recent home I was showing was listed at $125,000. The home sold "new" for over $212,000 in 2005. It was in great share. Naturally, there were multiple offer in days. The final sale price was $131,000. This was a cash sale. With paint, a few light fixtures and a few appliances, you have a great home!

Other buyers lost this home because they did not want to pay too much! When you realize that you are getting $60,000 in equity (allowing for a depressed market), why would you worry about $3,000 to $5,000? That is silly.

You need to step back and keep things in perspective. It is not a "deal" just because it is a foreclosure. It is not quite so simple. Together we will look for great deals but be prepared to react when it is a great deal. Yes, you are buying a home and there seems to be pressure when making a quick decision. It is strictly numbers. If the numbers indicate you are getting a great home at an unbelievable price, there is a time to sit back and a time to place your offer.

Visit Charlotte Real Estate to learn more about the great opportunities in the greater Charlotte real estate market!

Short Sale Activity Picking Up!

The Charlotte Real Estate market continues forward and I have found the Short Sale process continues to improve. Yes, it still will take several months before the lender responds but this time frame is now closer to 3 months as opposed to 6 months or longer!

As a seller this is a huge plus. You are in a very stressful situation; the sooner you home is sold, the sooner you can begin moving forward. It will take time for the bank to evaluate the offer and to assure the offer is legitimate. Unfortunately there are many people out to take advantage of a system; you can not blame the lender's hesitation.

This is also good for the buyer. What is the benefit of a Short Sale over a foreclosure? There are many people searching for a foreclosure. Yes, a foreclosure can easily close in 30 days but there is a lot of competition to any aggressively priced homes. Not so with a short sale.

A short sale has very limited competition since most people want to close on a home in a month or so. Good things come to those who wait. You can find a great deal in a foreclosure, be patient and get the home of your dreams. You will typically find the short sale will be in better condition than a foreclosure so it is a huge win!

As the real estate market and the economy continues at a slow pace, we must figure out how to make the best of a bad situation. Charlotte Short Sales should be considered if you have the time and patience to wait. There are great deals in Charlotte Foreclosures and standard resales, it just depends on what works best for you!

Charlotte Area Retirement Communities

There are a variety of retirement subdivisions in the greater Charlotte area. One very popular area is South Carolina in both York and Lancaster County. South Carolina has lower property taxes for residents in addition to a senior property tax discount. This means a lot to seniors with a fixed income.

One subdivision in Fort Mill SC is Four Seasons at Gold Hill. This is a relatively small subdivision that was built by K. Hovnanian in the mid to late 2000's. This is an age restricted community which preserves the active adult environment that you are seeking. There are permanent resident exceptions for adult children, a spouse or care taker that resides with the "age qualified" person. This assures the integrity of the community.

Visit Charlotte Real Estate and learn about the great Charlotte area homes for sale; it's time for you to improve your quality of life.

Meet your neighbors at Charlotte Area Festivals this weekend!

When relocating to an area, meeting your neighbors is a must before you purchase your new Charlotte Area Home. A great place to experience our culture and to meet your neighbors is at local festivals. This weekend there is a Strawberry festival in Fort Mill. Fort Mill Real Estate is just across the South Carolina border. Downtown Fort Mill is about 15 miles form uptown Charlotte.

In north Charlotte the is a Dragon Festival to celebrate the Chinese tradition. This is in Cornelius in the greater Lake Norman Real Estate area. This is on Saturday from 11:00 to 4:00.

As you visit the greater Charlotte region, visit our suburbs and discover our quality of life. Charlotte Real Estate offers something for everyone. Are you ready for a change?

Charlotte Area Retirement Communities

I have recently been hearing form many people looking for "distressed" homes in Retirement Communities. I did some research and was pleased to discover that there are none that are short sales, foreclosures or pre-foreclosures. I then checked the previous listing history and also found that there has not been any. I am pleased to see that the foreclosure crisis is not the result of decision of our seniors!

This makes sense since our seniors are the most responsible amongst us. They actually have planned for a fixed income. Even if things did not turn out the way that was desired they do not place themselves in an unaffordable situation.

Yes, I have been hearing more and more about the seniors placing themselves in a weaker position based on helping their adult children. Even in this situation seniors are still making intelligent financial decisions about their future; they are not getting in over their heads with an unaffordable mortgage.

There are several retirement communities in the greater Charlotte Real Estate market. Many seniors are focusing on Carolina Lakes Sun City. This is an amazing retirement paradise! There is the added benefit of reduced South Carolina Property taxes in addition to the seniors discount on taxes. It is hard to compete with these discounts especially when you are considering a fixed income!

We should all take lessons from our seniors when purchasing a home. Yes, it is up to us to take chances in our careers but still be responsible when considering homes for sale. The greater Charlotte market has a lot to offer our seniors and home owners of all ages. Visit the greater Charlotte area today and discover what we have to offer!