Fort Mill SC Real Estate is conveniently located less than 10 miles from uptown Charlotte. Fort Mill has some of the best academic scores in all of SC and provides a great environment for a family relocating. Did you know about Lancaster SC?
Homes in Lancaster are experiencing explosive growth. Lancaster County is just south of the prestigious Ballantyne area in Charlotte North Carolina. The affluence is spilling over into SC in a tidal wave!
The portion of Lancaster County that borders Charlotte is technically "Indian Land". This community is flourishing as can be seen as you drive south on Johnston rd (US 521) off of I-485 in south Charlotte. The area confuses many people because this portion of Lancaster County is Indian Land but the mailing address is still Fort Mill SC. Fort Mill and Fort Mill schools are in York County South Carolina. This portion of Lancaster County will attend Indian Land Schools. The Fort Mill Post Office is what services the area for your mail. This is why you will have a Fort Mill mailing address but ultimately you are in Lancaster County.
Indian Land is thriving and destined for growth. The new Lowes home improvement store is under construction, the new Harris Teeter is due to open outside of Sun City, the new Wendy's just opened and so did the CVS. A Kohls and Walmart are also being planned. This area will have all of the conveniences of South Charlotte and still the tax structure of South Carolina. As previously shared, the property taxes in SC are almost half of the property taxes in NC. I realize f0r those of you moving from other ridiculously taxed states that the difference between $3000 a year and $1500 is not that big of a deal but I am sure many of you would rather spend the extra $100 plus a month somewhere else.
If you are relocating to the greater Charlotte area then you should also look into Lancaster SC as a great place to call home. Learn more about great Charlotte NC Homes For Sale by visiting my website or just give me a call.
Sunday, January 25, 2009
Tuesday, January 20, 2009
Charlotte NC Homes For Sale and the Illusive Home Equity
Many people are searching for a great Charlotte home with lots of equity. First we must understand more about "real home equity" as opposed to "theoretical home equity".
Real home equity is when your home is worth more than you owe. The difference is your home equity. Now what is your home really worth. The market value of your home is worth what a normal person is willing to pay at any given time.
If someone was willing to pay $500,000 two years ago but you owed $300,000 then "IF" you would have sold it then you would have had $200,000 in equity. Let's say now you can only sell the home for $325,000. Your home equity is now only $25,000. If the owner is selling now trying to sell it for $400,000 and states he is "giving you" $100,000 in instant equity, what are you really getting.
You do not buy homes base on the price it sold for at the peak. Consider this like you would purchasing stock in coca cola. Would you be willing to purchase the stock above the current value if the stock was once priced twice of what it is today? No you would not (if you would I have some stock for you to buy).
You purchase a home at today's market value. If you purchase a home that is discounted, you have just reestablished a lower market value for the community. Yes the prices will likely rise in the future and in a few years the purchase "may" have proved to be wise. If you are purchasing a home in a declining neighborhood, is it really at the bottom? There are many factors to consider.
If you would like to share ideas or learn more about the greater Charlotte Real Estate market then visit my website or pick a phone and give me a call @704.770.6559. I can assist you with your Charlotte Real Estate Investment.
Real home equity is when your home is worth more than you owe. The difference is your home equity. Now what is your home really worth. The market value of your home is worth what a normal person is willing to pay at any given time.
If someone was willing to pay $500,000 two years ago but you owed $300,000 then "IF" you would have sold it then you would have had $200,000 in equity. Let's say now you can only sell the home for $325,000. Your home equity is now only $25,000. If the owner is selling now trying to sell it for $400,000 and states he is "giving you" $100,000 in instant equity, what are you really getting.
You do not buy homes base on the price it sold for at the peak. Consider this like you would purchasing stock in coca cola. Would you be willing to purchase the stock above the current value if the stock was once priced twice of what it is today? No you would not (if you would I have some stock for you to buy).
You purchase a home at today's market value. If you purchase a home that is discounted, you have just reestablished a lower market value for the community. Yes the prices will likely rise in the future and in a few years the purchase "may" have proved to be wise. If you are purchasing a home in a declining neighborhood, is it really at the bottom? There are many factors to consider.
If you would like to share ideas or learn more about the greater Charlotte Real Estate market then visit my website or pick a phone and give me a call @704.770.6559. I can assist you with your Charlotte Real Estate Investment.
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