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.
Sunday, October 11, 2009
Tuesday, September 29, 2009
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.
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.
Sunday, August 30, 2009
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.
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.
Wednesday, August 12, 2009
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.
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.
Tuesday, July 28, 2009
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.
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.
Saturday, July 25, 2009
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.
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.
Monday, June 15, 2009
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.
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.
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