Everyone wants a deal when buying a new home. The odds are the prices are going up based on the upcoming elections! Charlotte Real Estate, as with the national real estate market, is hurting because many home buyers are placing their new home purchase on hold but very interested in discounted homes combined with historically low interest rates.
When is the Real Estate at the "bottom" and how do you know? Consumer confidence dictates much of the economy. The Government is making the majority of consumers nervous due to their spending habits. This is not a political statement; it is strictly numbers. You can not keep spending what you don't have.
Watch what happens after the election. IF this election follows history (poor economy results in incumbents losing their seats) then the election will change the temperament of our nation and many will take advantage of the renewed confidence in the economy. As a Realtor, I live in the real world and this is what I foresee occurring. As the economy begins moving, demand increases and prices follow. Based on this "reasonable" assessment, the time to buy is now. As the economy begins to stumble forward, rates will begin to rise and Charlotte Homes will attain a new level of normal. No, I do not expect it to return to the sub-prime lending levels but the housing market will rebound. Charlotte Real Estate is still very popular throughout the nation. The northeast is about to embrace for another winter. It's time to buy!
Visit Charlotte Real Estate for information about homes in the entire greater Charlotte Real Estate market!
Showing posts with label Charlotte Real Estate Market. Show all posts
Showing posts with label Charlotte Real Estate Market. Show all posts
Thursday, September 09, 2010
Sunday, November 08, 2009
Charlotte Foreclosures are hot commodity
Charlotte Foreclosures remain a hot commodity. As foreclosures in Charlotte come on the market there is a surging demand. A decent deal does not last long.
I am noticing a trend of Short Sales. Charlotte Short Sales are increasing for several simple reasons. Sellers are learning that before their home goes into foreclosure, the banks will consider a short sale with a ready, willing and able buyer.
The down side of a short sale is that the Charlotte home will not "close" for several more months. The banks/lenders are attempting to streamline their process but you must be very patient when purchasing a Charlotte Home via a short sale. It may take 5 months until the lender actually approves the Charlotte home for sale. Banks/lenders must go through an elaborate process to confirm true market value, assess the value of a foreclosure (less than a short sale based on the condition of the average home after the foreclosure), assure that the deal is an arms length transaction and "assume" the amount of the loss.
The decision to assume a loss for the lender is not necessarily easy and without risk. Consider every corporation to reflect "Survivor". There are always people watching and scrutinizing each decision. When you get too many people involved in a decision process, efficiency is lost exponentially.
Charlotte Foreclosures and Charlotte Short sales present opportunities for you if you are ready to buy today. Call me as your Charlotte Realtor at 704-770-6559 for a customized Charlotte Foreclosure home search. Caution: I share all or the greater Charlotte NC Foreclosures. Charlotte homes are not discounted like the hyper inflated markets but you can get discounts. Do not expect to see discounts like you will find in Florida, New Jersey, much of California, Vegas and Phoenix. These markets went up tremendously over the past 5 years. The discount you are really receiving is merely the market adjustments of a super inflated price. Charlotte Real Estate did not experience this type of surge. I share this so that you understand that these are the selling prices. I will also share recent sales so that you will know realistically what offers banks are accepting.
I am noticing a trend of Short Sales. Charlotte Short Sales are increasing for several simple reasons. Sellers are learning that before their home goes into foreclosure, the banks will consider a short sale with a ready, willing and able buyer.
The down side of a short sale is that the Charlotte home will not "close" for several more months. The banks/lenders are attempting to streamline their process but you must be very patient when purchasing a Charlotte Home via a short sale. It may take 5 months until the lender actually approves the Charlotte home for sale. Banks/lenders must go through an elaborate process to confirm true market value, assess the value of a foreclosure (less than a short sale based on the condition of the average home after the foreclosure), assure that the deal is an arms length transaction and "assume" the amount of the loss.
The decision to assume a loss for the lender is not necessarily easy and without risk. Consider every corporation to reflect "Survivor". There are always people watching and scrutinizing each decision. When you get too many people involved in a decision process, efficiency is lost exponentially.
Charlotte Foreclosures and Charlotte Short sales present opportunities for you if you are ready to buy today. Call me as your Charlotte Realtor at 704-770-6559 for a customized Charlotte Foreclosure home search. Caution: I share all or the greater Charlotte NC Foreclosures. Charlotte homes are not discounted like the hyper inflated markets but you can get discounts. Do not expect to see discounts like you will find in Florida, New Jersey, much of California, Vegas and Phoenix. These markets went up tremendously over the past 5 years. The discount you are really receiving is merely the market adjustments of a super inflated price. Charlotte Real Estate did not experience this type of surge. I share this so that you understand that these are the selling prices. I will also share recent sales so that you will know realistically what offers banks are accepting.
Monday, June 15, 2009
Charlotte Homes for Sale
Charlotte Real Estate continues to flourish as many people are taking advantage of the low interest rates and the Federal Tax credit that is in effect for first time home owners. There are many great deals out there that Charlotte NC Real Estate has not experienced before. Where are the deals and what is really a deal?
That is the question each home buyer should ask. Is a deal 50% off on a property that sold 2 years ago? Did you think of asking why did this home lose so much value over such a short time period? Is this area going to increase in value or is it still declining?
Now let's get back to Charlotte. There are very few places in Charlotte that you can get a home this cheap. You may hear stories but they are simply stories. First you would ask yourself if the value was really $100,000 why would the seller "give me" $50,000? Does he/she really like me that much? Hmmm?
There is always a reason. If a home has lost that much value there is a reason. Was the neighborhood that overinflated to begin with? If a home is selling for less than it would cost to build the home then that should generate a huge flag.
Charlotte Real Estate market value is the result of several factors. The best indicator and a large factor are the purchasing demands of the locals. By using the term "locals" I mean a person who has resided in Charlotte for a few years. A local has typically experienced a good deal of the greater Charlotte area and knows what areas they prefer. Their personal desire (supply and demand) establishes the price. An area that has only a local market can be assured of "true" market value.
Now let's add a wrench into the formula. First are Charlotte Home Buyers that are relocating. A Charlotte Relocation buyer is an a difficult predicament. When you first move you would like your family to be stable and happy. You do not want your children to have a bad experience with schools or friends. Nor do you want your child developing friendships only to relocate to another home the following year.
These families have the best intentions for their new Charlotte Homes but have trouble discerning each area. There are many confusing resources and people speaking half truths. I help filter through the information so that you can compare areas based on your own personal situation. Children are too valuable to risk!
Everyone wants their child to "fit in" with their new Charlotte school and Charlotte Neighborhood. Consider the local grocery store for a snap shot of your new home. Is this your comfort zone? How about the schools? What website do you believe? Are you really comparing "apples to apples"? School awards, test scores, SAT scores and school websites are confusing and makes it difficult to determine which way is up.
I help balance these concerns. I am very familiar with the public websites and can assist with simplifying the task in front of you. Visit my Charlotte Real Estate website and gain insight into our schools, our suburbs and great Charlotte NC Homes for Sale.
That is the question each home buyer should ask. Is a deal 50% off on a property that sold 2 years ago? Did you think of asking why did this home lose so much value over such a short time period? Is this area going to increase in value or is it still declining?
Now let's get back to Charlotte. There are very few places in Charlotte that you can get a home this cheap. You may hear stories but they are simply stories. First you would ask yourself if the value was really $100,000 why would the seller "give me" $50,000? Does he/she really like me that much? Hmmm?
There is always a reason. If a home has lost that much value there is a reason. Was the neighborhood that overinflated to begin with? If a home is selling for less than it would cost to build the home then that should generate a huge flag.
Charlotte Real Estate market value is the result of several factors. The best indicator and a large factor are the purchasing demands of the locals. By using the term "locals" I mean a person who has resided in Charlotte for a few years. A local has typically experienced a good deal of the greater Charlotte area and knows what areas they prefer. Their personal desire (supply and demand) establishes the price. An area that has only a local market can be assured of "true" market value.
Now let's add a wrench into the formula. First are Charlotte Home Buyers that are relocating. A Charlotte Relocation buyer is an a difficult predicament. When you first move you would like your family to be stable and happy. You do not want your children to have a bad experience with schools or friends. Nor do you want your child developing friendships only to relocate to another home the following year.
These families have the best intentions for their new Charlotte Homes but have trouble discerning each area. There are many confusing resources and people speaking half truths. I help filter through the information so that you can compare areas based on your own personal situation. Children are too valuable to risk!
Everyone wants their child to "fit in" with their new Charlotte school and Charlotte Neighborhood. Consider the local grocery store for a snap shot of your new home. Is this your comfort zone? How about the schools? What website do you believe? Are you really comparing "apples to apples"? School awards, test scores, SAT scores and school websites are confusing and makes it difficult to determine which way is up.
I help balance these concerns. I am very familiar with the public websites and can assist with simplifying the task in front of you. Visit my Charlotte Real Estate website and gain insight into our schools, our suburbs and great Charlotte NC Homes for Sale.
Thursday, March 19, 2009
Charlotte Foreclosures - Better Move Quickly
I am still amazed at how quickly Charlotte Foreclosures continue to sell. I was showing homes today in Tega Cay and one was a Foreclosure. The Tega Cay home was on the market for 13 days and my client was interested after actually seeing the home. I contacted the listing agent only to discover the bank already had 4 offers on the table and the counter offer was accepted today. It is incredible to see the interest is still here in the greater Charlotte Real Estate market. The home buyers are definitely more discriminating than the past several years.
Over the past several years we were inundated with subprime borrowers and Charlotte Real Estate Investors. This superficially inflated the condo market and starter neighborhoods. Now home investors can no longer find someone willing to risk cash for rental properties. When the risk outweighs the gain then it becomes a donation and not an investment. The donors are out of business.
Today's Charlotte Real Estate Home buyers are primarily looking for a place to call home. This is the sound fundamental economic activity that we need. The proud home owner in Charlotte can find great deals. Yes you need good credit and must be responsibly able to invest in a great home.
Charlotte fundamentals are still solid. Charlotte is still the desired destination throughout the nation. The declining cities across the nation are all too aware of this trend. Expect that they will try to downplay the desire for Charlotte Real Estate relocations. They do not want their tax payers to leave. Fortunately enough people already have friends and family in Charlotte so the media will not be their only source of misinformation.
Charlotte Real Estate remains a great option and Charlotte Foreclosures offer a great opportunity for the savvy buyer. Please understand the fundamentals of our economy prior to purchasing a Charlotte Foreclosure. Starter Neighborhoods will takes additional time to recover. An established neighborhood (older than 6 years) will recover more rapidly than a starter neighborhood constructed during the subprime give aways. The Charlotte condo market also has additional considerations before purchasing a home. Visit my Charlotte Real Estate website for additional information about Charlotte or call me directly at 704.770.6559. When is a "deal" really a "deal"?
Over the past several years we were inundated with subprime borrowers and Charlotte Real Estate Investors. This superficially inflated the condo market and starter neighborhoods. Now home investors can no longer find someone willing to risk cash for rental properties. When the risk outweighs the gain then it becomes a donation and not an investment. The donors are out of business.
Today's Charlotte Real Estate Home buyers are primarily looking for a place to call home. This is the sound fundamental economic activity that we need. The proud home owner in Charlotte can find great deals. Yes you need good credit and must be responsibly able to invest in a great home.
Charlotte fundamentals are still solid. Charlotte is still the desired destination throughout the nation. The declining cities across the nation are all too aware of this trend. Expect that they will try to downplay the desire for Charlotte Real Estate relocations. They do not want their tax payers to leave. Fortunately enough people already have friends and family in Charlotte so the media will not be their only source of misinformation.
Charlotte Real Estate remains a great option and Charlotte Foreclosures offer a great opportunity for the savvy buyer. Please understand the fundamentals of our economy prior to purchasing a Charlotte Foreclosure. Starter Neighborhoods will takes additional time to recover. An established neighborhood (older than 6 years) will recover more rapidly than a starter neighborhood constructed during the subprime give aways. The Charlotte condo market also has additional considerations before purchasing a home. Visit my Charlotte Real Estate website for additional information about Charlotte or call me directly at 704.770.6559. When is a "deal" really a "deal"?
Monday, September 15, 2008
Charlotte Real Estate with Equity
There are Charlotte Homes with equity for the wise buyer. Be careful with "claimed equity". North Carolina property taxes are based on scheduled assessments. The assessments are based on current market value. Are you getting equity on current market values? Was the Charlotte home losing value as the rest of Charlotte appreciates? Was the appreciating "home equity" depreciating when the remainder of Charlotte Real Estate was strong?
The Charlotte housing market continues to appreciate even as real estate around the nation suffers. There is a demand and desire to live in Charlotte and it is inevitable for this trend to continue. If you are one of the fortunate home owners and are ready to relocate we can find a great deal for you. Visit my Charlotte Real Estate website for additional information on Charlotte and all of our great suburbs.
The Charlotte housing market continues to appreciate even as real estate around the nation suffers. There is a demand and desire to live in Charlotte and it is inevitable for this trend to continue. If you are one of the fortunate home owners and are ready to relocate we can find a great deal for you. Visit my Charlotte Real Estate website for additional information on Charlotte and all of our great suburbs.
Monday, September 08, 2008
Charlotte Real Estate Opportunities
As the national real estate market is a challenge, the greater Charlotte Real Estate area continues to expand. There has been a slow down based on higher lending standards but this will actually improve the overall health of the real estate market. There are real estate investor opportunities for rental properties as opposed to people hoping to flip homes.
The Charlotte Real Estate market continues to sell but additional precautions are necessary to confirm the buyer can obtain a home loan in today's market.
There are also potential opportunities for Charlotte Short Sales. A short sale occurs if a home is approaching foreclosure and both the lender and the seller agrees to sell the home for less than what is owed. The lenders typically absorb the loss so will ultimately decide if an offer is acceptable. There are many nuances with these types of purchases and you must have a good realtor to assist. There is a lot of information needed to meet the demands of the lender. It takes a lot of micromanaging to facilitate these deals.
For additional information on Charlotte NC Real Estate visit http://www.findmycarolinahome.com.
The Charlotte Real Estate market continues to sell but additional precautions are necessary to confirm the buyer can obtain a home loan in today's market.
There are also potential opportunities for Charlotte Short Sales. A short sale occurs if a home is approaching foreclosure and both the lender and the seller agrees to sell the home for less than what is owed. The lenders typically absorb the loss so will ultimately decide if an offer is acceptable. There are many nuances with these types of purchases and you must have a good realtor to assist. There is a lot of information needed to meet the demands of the lender. It takes a lot of micromanaging to facilitate these deals.
For additional information on Charlotte NC Real Estate visit http://www.findmycarolinahome.com.
Sunday, July 20, 2008
Charlotte Real Estate Market Conditions
Many people are siting back and hoping the greater Charlotte Real Estate Market declines to obtain discount homes. There are certain areas in Charlotte to obtain discount homes. The areas for the discounts are several. The first is obviously the areas of the least demand. Builders began many starter Charlotte neighborhoods that was fueled by high risk loans. High risk loans defaulted and there are many foreclosures. In addition to high risk loans in these neighborhoods, many foolish investors also purchased these inexpensive homes. Now you have Charlotte neighborhoods with rentals and foreclosures. It will take years for many of these neighborhoods to turn around but you can have potential equity in your Charlotte home.
Another place to find discounted homes are with inner city town homes. This was a new market and investors surged the new Charlotte town home market and the prices were super inflated. The prices are more in-line with value. The price decrease is based on a superficial demand but is adjusted back to true demand.
Another area of deep discounts are in million dollar homes. Many builders have offered deep discounts on their new homes. This market has slowed and builders must readjust their bottom lines.
Unfortunately for the discount buyer, areas of high demand are still selling at a premium. Lets look at Waxhaw Real Estate. I personally checked recent sales in Waxhaw between $175,000 and $250,000. There were 43 single family homes sold over the past 3 months. The sale prices were 97+% of list price.
If you are seeking discount Charlotte Homes, consider he discount neighborhoods. Many of these neighborhoods are higher risk investments but with higher risk comes higher rewards. If you have other concerns for your family beyond a discount, I am very familiar with all aspects of the Charlotte Real Estate market including taxes, commute times, traffic concerns, schools and so much more.
Visit Charlotte Real Estate for in depth information about the greater Charlotte Market.
Another place to find discounted homes are with inner city town homes. This was a new market and investors surged the new Charlotte town home market and the prices were super inflated. The prices are more in-line with value. The price decrease is based on a superficial demand but is adjusted back to true demand.
Another area of deep discounts are in million dollar homes. Many builders have offered deep discounts on their new homes. This market has slowed and builders must readjust their bottom lines.
Unfortunately for the discount buyer, areas of high demand are still selling at a premium. Lets look at Waxhaw Real Estate. I personally checked recent sales in Waxhaw between $175,000 and $250,000. There were 43 single family homes sold over the past 3 months. The sale prices were 97+% of list price.
If you are seeking discount Charlotte Homes, consider he discount neighborhoods. Many of these neighborhoods are higher risk investments but with higher risk comes higher rewards. If you have other concerns for your family beyond a discount, I am very familiar with all aspects of the Charlotte Real Estate market including taxes, commute times, traffic concerns, schools and so much more.
Visit Charlotte Real Estate for in depth information about the greater Charlotte Market.
Tuesday, April 29, 2008
Charlotte Real Estate Values
Many people across the nation are seeking a great deal in Charlotte Real Estate. Today the annual real estate appreciation was published and Charlotte is the only city in the survey with positive real estate appreciation. Charlotte Real Estate had a modest BUT positive annual appreciation rate of 1.8%. This is incredible since the nation is suffering one of the worst mortgage melt down in history. If the demand for Charlotte homes is reasonably strong now, you can be assured your Charlotte Real Estate investment will be secure in the future. Yes, there are certain areas within Charlotte that are doing better than others. Are there homes in Charlotte that are depreciating? Yes. The key is learning what areas are appreciating and which have the strongest market values. Visit Charlotte Real Estate and Charlotte NC Real Estate for more information on Charlotte Homes and to learn about our market.
Subscribe to:
Posts (Atom)