There has been a new stumbling block recently encountered for the purchase of Charlotte Foreclosures and Charlotte Short Sales. As with any obstacle, they are often the byproduct of recent/past troubles. Many lenders are now requiring a preapproval from a direct lender and not a Mortgage Broker. I understand this to a degree but I recently lost a Charlotte Foreclosure Property because my buyer could not get a lender letter soon enough.
My new rule is to require each buyer to speak to a national lender to obtain the pre-approval beforehand. I like my Mortgage brokers and they rarely let me down. The problem is that the Bank does not know the credibility with each Mortgage Broker and they want to assure the Charlotte NC Foreclosure makes it to cosing and the buyer can actually get the loan. I have no doubt there are those out there with dubious ethics and "stating" that the person is approved but in reality did not really check thoroughly.
Charlotte Foreclosures and Charlotte Short Sales are in big demand and you better be ready when seeking a discounted property. The discount is based on a smooth transaction and a prepared buyer. Give me a call and I will help you gt ready and then find ideal Charlotte NC Homes for Sale.
Showing posts with label Charlotte NC Foreclosures. Show all posts
Showing posts with label Charlotte NC Foreclosures. Show all posts
Thursday, October 01, 2009
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"?
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