Charlotte Homes

Today's Real Estate Market and Today's Home Buyer

Thu, 29 Sep 2011 11:28:55 -0700

After watching the most recent real estate update by Steve Harney (a respected national real estate expert) there is some information that is important that the public understands. First we need to look at who is today's home buyer. It is the first time home buyer and investors. The volatile stock market and employment uncertainty has definitely affected the high-end market.

In our office, consisting of 96 agents that covers the entire Charlotte market, our average sales price to list price is up to 91%....it was staying around the 87% mark for several months but we are finally seeing this number creep back higher. Our average days on market is now 130 days.....down from this time last year when it was 146 days.

So what is causing this shift...

Part of the sales price to list price percentage increase is due to the higher buyer demand during the summer months...but mostly these numbers have changed because the home price index has gone up in the past 6 months...this is because the percentage of the national real estate market that is in foreclosure has dropped for 5 consecutive months. The number of home owners who are 90+ days delinquent on their home loans is dropping...which means we will start to see less foreclosures hit the market in the next 6 months.

Foreclosures are selling at a 40% discount.

Short sales are selling at a 21% discount.

Until we get rid of the high number of distressed properties this real estate market will remain in a slump.

Nationwide there are still 14,000 real estate sales every single day. The buyers are focusing on resales and distressed properties...not new construction...the best deals are not going to be new construction for a while. Builders may not admit this but look at their inventory and you can tell that they know it is true. They have sold their spec homes and are not building new inventory.

Real estate is still a great investment and from January 1st, 2000 to September 1st, 2011 its' return on investment was 6 times that of the Dow Jones.

Houses For Sale in Charlotte | Myers Park Homes | Myers Park School District

Tue, 23 Aug 2011 12:51:17 -0700

Houses For Sale in Charlotte | Myers Park Homes | Myers Park School District

Houses for sale in the Myers Park School District get a lot of attention from home buyers in Charlotte, NC. Myers Park is located just south of Charlotte's center city which allows for short commutes for those working Uptown. Houses in the Myers Park school district stretch beyond the Myers Park neighborhood. Throughout the real estate downturn, houses located within the Myers Park school district seem to have held their prices better because of the popularity of Myers Park High School.

View a map of the Myers Park School District

Selling Your Parents' Home

Thu, 18 Aug 2011 16:32:09 -0700

Selling a home can be a stressful experience, and even more so when the home is the one you grew up in.

Today, Baby Boomers are increasingly finding themselves caught as the “sandwich generation” between elderly parents and children still living at home. The scenario becomes even more complex as aging parents become ill and must leave their homes of many years. Aside from the emotional issues of transitioning a parent to an assisted living facility or nursing home, there are legal, financial and logistical issues. If the parent does not have liquid assets that can be used to finance their care, the immediate sale of their home may be necessary.

State laws vary, but generally speaking, an individual must be mentally competent to execute a listing agreement to sell a home or to designate a financial power of attorney to allow someone else to do so. For these reasons, it is highly advisable for all adults with assets to have a will and a designated power of attorney to oversee their financial affairs if they suddenly become unable to do so. A financial power of attorney would allow a home to be sold immediately to help pay medical or facility expenses.

One of the most common frustrations when selling a home for an elderly parent is lack of information and resources. Do you have all legal documents and important papers? Is the home paid for, and if not, is the mortgage current? Is the insurance up-to-date? Where is the deed? What about the contents of the home? All of these items need to be addressed before a home can be sold.

As your Allen Tate Realtorâ, I can advise you about price, marketing and improvements needed to sell the home for a fair price in a reasonable time frame. I can also offer resources for estate sales, cleaning, repairs and staging. If your parents’ home is in another city not served by Allen Tate, I would be happy to refer you to a professional Realtor with one of our Leading Real Estate Companies of Worldä partners in that area. I would also recommend that you consult with an elder care attorney to advise you about legal matters and how the sale of your parents’ home can potentially affect financing of long-term care.

Getting Your House Ready To Sell In Charlotte, NC

Tue, 16 Aug 2011 13:55:21 -0700

Getting Your House Ready To Sell Faster In Charlotte, NC

If you have a house for sale in Charlotte, NC then you know that there is a lot of competition and buyers are being very picky. There are some things you can do to get your house ready to sell without going out and spending a lot of money. You need to think about how a buyer will perceive your house when they view it for the first time.

Curb Appeal

Begin with the front of your house. Make sure that you keep the yard cut, trimmed, and fresh flowers planted in outside planters or flowerbeds. You want the buyer to pull into your driveway and be excited about seeing the inside of the house because they are already happy to see a pleasant exterior.

Clutter Free

De-clutter and depersonalize your house. The average seller needs to remove 50% of their "stuff". You may need to get a storage unit while your home is on the market. Remove all family pictures from the house, religious items and political items. Keep the house cleaned and blinds open...a fresh scent with soft music can never hurt.

Color

This one is easy but many sellers can't seem to get it. Neutral colored houses sell!!! You don't want to lose a buyer because they can't imagine living in your house that has green, blue, pink, or striped walls....and yes, most buyers do not want to have to paint a house as soon as they move in and you will lose offers or receive lower offers. Paint your walls a soft baige and then bring splashes of color into your house with decorative accessories.

Fix Basic and Noticable Problem

Go ahead and repair all of the noticeable items in your house and any other basic repairs that the buyers are going to ask for after they perform their inspection. You don't want to give the buyer the impression that the house has not been cared for or that it may have many other issues that should scare them from making an offer.

Don't just put your house on the market and hope that it sells. There is a lot of competition in Charlotte and as agents we are having to market houses more than ever in order to receive showings. Take advantage of the showings that your house receives by doing some of the basics.

3 Bedroom Townhouses in South Charlotte | South Charlotte Townhouses

Wed, 08 Jun 2011 12:26:06 -0700

3 Bedroom Townhouses in South Charlotte

Townhouses in south Charlotte are popular for those who want to live a maintenance free lifestyle and who want to have a short commute to Uptown Charlotte. 3 bedroom townhouses seem to fit the needs of most south Charlotte townhome buyers. Garages are popular and so are communities with swimming pools. Today's townhouse buyer wants the convenient drive to work, the community social atmosphere that the community pool offers, and the maintenance free living that is found in most townhouse complexes in south Charlotte.

Search the townhouses in south Charlotte and let me show you the lifestyle that the different townhome complexes offer.

Every townhome complex in south Charlotte will have different home owners association regulations and dues.

Maintenance Free Living
Short Commute to Uptown Charlotte
South Charlotte Lifestyle
Community Atmosphere

Search for Townhomes in South Charlotte

McCullough Homes | John Wieland Homes in Pineville, NC

Mon, 23 May 2011 12:31:46 -0700

McCullough Homes | John Wieland Homes in Pineville, NC

McCullough, in Pineville NC, offers houses for those looking for a neighborhood with a real sense of community. The homes in McCullough range from the high $200,000's to the $400,000's+ but it is what the neighborhood offers that is attracting home buyers. (Townhomes will also be built in the subdivision ranging from the high $100,000's to the high $200,000's and will include fenced courtyards and 2 car garages). There will be over 800 homes in the McCullough neighborhood when it is complete.

Homes For Sale in McCullough

McCullough's resort style amenities include:

Walking trails (McCullough is being built on an old golf course and John Wieland has decided to use the cart paths as walking trails throughout the neighborhood...this mean miles of walking available)
Club House, Pool, Tennis Courts, Fitness Center
Yard maintenance (everything from mowing, seeding, straw, aerating...you will have no yard maintenance)
Founders Park with a community pavilion and over 80 acres of green space

McCullough's Schools:

Elementary School - Pineville
Middle School - Quail Hollow
High School - South Mecklenburg

HOMES IN McCULLOUGH

McCullough offers city convenience with the small town feel of Pineville. McCullough will also offer homes with basements. Anybody that has searched the Charlotte area for houses will know that basements are rare.

McCullough is in the city of Pineville, which means that the taxes are lower but you still have the ultimate south Charlotte location and the commute to Uptown Charlotte is quicker than in many other neighborhoods with Charlotte addresses.

Investing in Charlotte Real Estate

Wed, 27 Apr 2011 12:35:29 -0700

Investing in Charlotte Real Estate

Many of my clients have had to take significant losses when they sold their previous homes but after they realized what they could afford to buy in their area of choice, they were wondering why they didn't cut their losses sooner. A lot of sellers are scared to take a loss on their house, when in fact it makes financial sense for them to do so if they are planning to buy a more expensive house where they can regain the loss.

Interest rates are at all time lows, so you can sell your house at its current, higher, interest rate, get into the home of your dreams, and your monthly payment may not rise much...remember that interest rates control your monthly payment just as much, if not more than the list price.
If you are an investor, this is a great time to be adding to your portfolio of rental properties. There are a lot of renters in this market that do not have the credit to buy. What better time to buy an investment property than at the bottom of the market (price-wise), all time low interest rates, and an increasing number of renters.
Charlotte, NC will always be a popular place for the young workforce, retirees, and investors. The amazing climate, educated workforce, an Uptown that is constantly growing, a diversified arts community, Charlotte's airport, and close location from the mountains and to the ocean will keep Charlotte on the top of many home buyers list of places to move.

Charlotte, NC was recently ranked the #8th healthiest real estate markets in the country. Charlotte never experienced the extreme bubble prices like many of the other cities. Charlotte is expecting to add enough jobs to keep up with its' growth and will continue to be a popular city for home buyers and investors.

Homes For Sale in Charlotte

Relocating to Charlotte NC

Tue, 21 Apr 2009 11:58:38 -0700

Relocating to Charlotte, NC will be the best decision you make. Charlotte has a lot of buyers relocating to the area because of the city's large banking presence. Charlotte is the 2nd largest banking center (NYC being #1) and though the banks have been struggling, we are still seeing people being relocated to Charlotte to work for Wells Fargo or GMAC. Most of the buyers are completely new to Charlotte and need the expert advise of a local real estate agent.

In a city that offers as much as Charlotte, it is easy to overwhelm the buyers with all the different areas and attractions. I like to give my clients a one hour tour of the city and surrounding areas. This is just long enough to drive them through the different areas and neighborhoods so that they can get a feel for the different sides of Charlotte. They will want to explore the city on their own and will more than likely stumble across something that they will want me to explain to them.

The streets in Charlotte can be a little confusing for people new to the city. The streets are designed like a bicycle wheel and spokes instead of the more traditional grid system. Once you live here and understand how the different roads connect, you will see how much better the traffic flows with a wheel and spoke design.

Mecklenburg County has great public schools and a rapidly growing public transportation system. If you want to receive more information about Charlotte please call me and ask for a relocation packet. I can mail you all of the information about the city and the housing market so that you will be more educated when you are ready to buy.

New Home Communities in Charlotte, NC

Sun, 29 Mar 2009 20:54:17 -0700

I think that now is a great time to buy a new home in Charlotte, NC and especially around the $300,000 range. Builders are really offering some great incentives on new homes and closing cost money. Some Charlotte home builders are coming way off of their list price and it is important to know how motivated each builder is individually.

It is hard to take your clients into a model home at many communities. Some onsite agents will act like the house you will buy will look exactly like the model. It is very important that you get a list of upgrades for you clients along with the exact price of each upgrade. Take your clients to an inventory home and let them see what they will actually get for that price and be sure to point out the upgrades that were or were not added to the home.

You will learn more about how much upgrades cost in case you get asked in the future, it will help you gain the trust of your clients and it will ensure that the clients are happy once they move in and realize that they were properly guided through the entire transaction.

Remember RED PENGUIN....with the internet, buyers can do a lot of the research themselves. They need the guidance of a prof. to ask all of the questions to the builders to make sure that the home they want is the home they will get.

Brandon Farmer

Is It Time For North Carolina Homes to Have More Standardized Energy Codes?

Tue, 19 Apr 2011 10:39:15 -0700

Is It Time For North Carolina Homes to Have More Standardized Energy Codes?

Going green is more popular than ever for North Carolina home buyers. Home buyers realize that a greener house means a healthier living environment and lower energy costs. Sometimes the upfront cost of a greener house is more than what the buyer can afford or more than their energy savings for 10+ years.

I think it's time that North Carolina adds more standardizes energy codes for home builders...just like the current home building codes.

Green homes are meant to lower the carbon footprint while making the house much more energy efficient. Builders do this by adding the following to their new construction homes:

Tank-less Water Heater
Spray Foam Insulation
Sealed Crawl Space
Geo-Thermal Heating System
Triple Glazed Windows
Super High Efficiency Heating Ventilation System

These products aren't cheap for the builders and the cost is handed down to the home buyer's purchase price. If we are giving tax breaks to home owners who are upgrading their homes with greener products then we need to do the same to home buyers that are purchasing new "green certified" homes. It would also be great to see mortgage lenders offer green building credits for those buyers that are willing to spend more for an energy efficient home.

Buying a Home for the Lot? Recycle the House!!!

Mon, 28 Mar 2011 11:44:59 -0700

Buying a Home for the Lot? Recycle the House!!!

Everybody has heard of builders, investors, and home buyers finding the perfect lot to build their new home but before they begin they must tear down the existing structure. Now there is another option...Recycle the house. Builders Of Hope have started a program where you can recycle your entire house. They do not come in and tear down the structure, break it apart, and recycle the different materials. Instead, they move the entire structure to a different location.

Currently, Builders of Hope are building communities throughout North Carolina in Charlotte, Raleigh, Fuguay-Varina, and Durham. They get the recipient involved from the beginning of the process and once the house has been relocated, they work to make the structure more livable and more efficient.

This program is an innovative way to help the owners of the existing lot while also providing a home to a less fortunate family.

Ballantyne Country Club Rental ~ 11200 Waightstill Way, Charlotte, NC LEASED

Wed, 31 Mar 2010 13:08:50 -0700

Ballantyne Country Club Rental ~ 11200 Waightstill Way, Charlotte, NC $3100/month

This is a very luxurious house located in the sought after Ballantyne Country Club. This house has a skyline view of Charlotte NC from the front yard.

The house has 4 bedrooms with 3.5 bathrooms. The house features an office, formal living room, formal dining room, great room w/ gas logs, updated kitchen with granite and stainless steel, large bonus room, 3 car garage, large screened in porch with a wood burning fireplace and a large stone grilling area on the back patio. This house has every feature that a renter could want and is located in an amazing subdivision.

The owners of this house will consider renters with certain breeds of dogs. There is an underground fencealready in place. The house is absolutely beautiful and needs a family that wants to move in on or after June 30th.

The elementary school, middle school and high school are Ballantyne, Community House and Ardrey Kell.

This house is also located on a cul-de-sac lot.

Place Your Bets on Charlotte, NC to Lead the Housing Recovery

Fri, 11 Mar 2011 11:13:44 -0800

Charlotte, NC has recently received many high rankings from respected magazines, websites, and real estate experts. They believe the Charlotte metro area will have one of the strongest housing recoveries in the country.

In February, CNNMoney ranked Charlotte as the 9th best housing recovery bet. They noted that the corporate expansion and the number of companies relocating to Charlotte, NCwill lower the unemployment rate by putting many of the Charlotteans back to work. The article also mentions how good properties are getting multiple bids and are moving quickly. This has proved true. I have experienced more multiple offer situations this year than last.

Builder Magazine recently ranked Charlotte, NC the 8th healthiest housing market for 2011. The number of building permits rose by 65% and they note that the Charlotte housing market was never hit as hard as many other areas around the country. The median home price dropped from its peak value of $204,000 in 2007 and was around $190,000 at the end of 2010.

Other North Carolina areas led the top 10 for Builder Magazine. Raleigh/Cary, NC were 1 and Durham/Chapel Hill received the 2nd spot. People will always want to live in the Carolina's. We have some of the best mountains, beaches, and cities and sit halfway between New York and Florida...thus, the halfback state.

Buying a Home in South Charlotte | South Charlotte Real Estate | Charlotte Homes

Wed, 09 Mar 2011 10:40:22 -0800

Buying a Home in South Charlotte | South Charlotte Real Estate | Charlotte Homes

Are you moving to Charlotte in hopes of buying a home for you or your family? Find out what you can expect during the home buying process.

Get to know the area. Have your real estate agent show you the different neighborhoods and lifestyles in south Charlotte. Find the area that seems to best fit your family's needs.
Search for homes in Charlotte that are in your price range and try to get close to your desired area. Remember, location is always the most important factor. You can always drive further from Charlotte and get more house for the money but in the long run most people will be much happier living in their more desired location.
If you are thinking about buying a fixer upper, learn about different types of FHA Financing.
Speak with your real estate agent about your negotiating strategy. Find an agent that will work in your best interest and that will fight to get your next home at the best possible price. Some buyers are even using an unconventional offer process.

Building A Custom Home...Things Home Buyers Should Keep In Mind

Fri, 25 Feb 2011 08:53:29 -0800

Building A Custom Home...Things Home Buyers Should Keep In Mind | Charlotte Home Construction

Once home buyers have decided on a lot, floor plan, upgrades, and type of financing, there will still be several things for the buyer to keep in mind. The buyer will most likely obtain a construction loan and will sit down with the bank to discuss how the builder will be paid. Builders are usually paid in four draws once different stages of the construction is complete.

The next step for the builder will be to stake out the house and to clear the lot. The home buyer needs to see the ribbons staked at the corners of the house so that they can better visualize how the house will sit on the lot. They may want to move the house to a different location or tweak one of the corners to save a tree that would have otherwise been cut. The home buyer may also want more or less vegetation removed from the lot than what they originally told the builder.

The foundation will be built next. Once this is completed, the home buyer should frequent the job site to make sure that everything is being built to the buyer's expectations. It will be much cheaper to make changes or to correct mistakes if they are caught early in the building process. Be prepared to see many contractors and subs on the job site even though the main contractor may not be present. Feel free to get to know these workers and ask them questions.

Once the home is complete, and before the last draw is paid to the builder, make sure to have the home completely inspected and make sure that it is what you had contracted the builder to construct. Always get a home warranty that is over and above the state implied warranty on new construction.

New Homes in South Charlotte