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"?
Thursday, March 19, 2009
Thursday, March 12, 2009
Charlotte Neighborhoods
Southwest Charlotte Real Estate continues to grow and the Charlotte neighborhoods continue to evolve. The Charlotte Schools must continually update the school zones to accommodate the Charlotte population growth. One change for he upcoming year is the new Dixie River Rd Elementary school to open by the Berewick subdivision. In addition to the new elementary school the Berewick subdivision has been assigned to Olympic High School. The opening of the elementary school is just the beginning of the growth in the area. The commercial development of the greater Berewick community is still under way and this will simply further amplify the appeal of this prestigious Charlotte neighborhood. One of the great things of Berewick is the proximity to Lake Wylie. No Berewick is not on Lake Wylie but Lake Wylie parks and recreation is only minutes away!
Visit Homes in Southwest Charlotte Real Estate and you will be struck by the growth and know the future of Southwest Charlotte will be positive! Visit Charlotte NC Homes For Sale to learn more about the greater Charlotte Real Estate community.
Visit Homes in Southwest Charlotte Real Estate and you will be struck by the growth and know the future of Southwest Charlotte will be positive! Visit Charlotte NC Homes For Sale to learn more about the greater Charlotte Real Estate community.
Thursday, February 26, 2009
Buy Real Estate now of donate your income to the Government!
The new administration is in full swing and as the budget details are revealed many will need to rethink their financial plans. It is no longer of value to have stock investments. This is not necessarily to the decline but due to the taxation rates if you are successful.
The wise money will be purchasing real estate. It is time to liquidate taxable income, acquire assets and minimize expenses. It is time to purchase your dream home or your retirement home today! Big money sees what ahead and you need to secure your assets.
There are many options within Charlotte Real Estate that will fulfill your needs. We have golf course communities, Country Clubs, Lake Front Properties and much more. Regardless of your desired home we are sure to have it here.
Visit Charlotte NC soon and buy now while you still have the liquid assets to do so. The wise stay ahead of the curve. The greatest benefit is the price stability of Charlotte NC Homes For Sale. Yes Charlotte has been impacted by the severe national real estate down turn but is still the safest bet in the nation.
Visit Charlotte Realty and learn about all of the great potential today!
The wise money will be purchasing real estate. It is time to liquidate taxable income, acquire assets and minimize expenses. It is time to purchase your dream home or your retirement home today! Big money sees what ahead and you need to secure your assets.
There are many options within Charlotte Real Estate that will fulfill your needs. We have golf course communities, Country Clubs, Lake Front Properties and much more. Regardless of your desired home we are sure to have it here.
Visit Charlotte NC soon and buy now while you still have the liquid assets to do so. The wise stay ahead of the curve. The greatest benefit is the price stability of Charlotte NC Homes For Sale. Yes Charlotte has been impacted by the severe national real estate down turn but is still the safest bet in the nation.
Visit Charlotte Realty and learn about all of the great potential today!
Monday, February 16, 2009
Charlotte Neighborhoods - Homes in Ardrey
Ardrey is a premier neighborhood within South Charlotte Real Estate that offers a community like no other. Ardrey homes are built by the Cunane Group and provide a Charleston Style home. These homes are rich with character including 3 story porches, ceiling fans on your porches and each home has its own sense of self. The exterior finishes of the homes are a soft pastel and this provides a very warm and open atmosphere. The vast majority of the garages are around back to keep the front view of your home appealing (nothing worse than a huge garage with a home attached).
The size of the homes will deceive you. They are much larger than you would think. The homes are constructed with the master bedroom on the main floor. The majority of the homes are 2 story but there are many that also have a 3rd floor. The kitchens are open with all of the upgrades you have come to expect. These include the granite counters, tile back splash, hardwoods or ceramic tile and custom cabinets.
The neighborhood is close to the new Elon Elementary School and Ardrey Kell High School. The prices range from the low $400's to $600,000. This is a neighborhood that will make you smile every time you come home and a delight for company. There are several parks and a community poos to further enhance the family atmosphere. If you are seeking a home with character and warmth, you have arrived. Call me today to view some of these fine Charlotte NC Homes for Sale and learn about our thrilling communities,
Visit Charlotte NC Homes For Sale and discover the great Charlotte Real Estate market.
The size of the homes will deceive you. They are much larger than you would think. The homes are constructed with the master bedroom on the main floor. The majority of the homes are 2 story but there are many that also have a 3rd floor. The kitchens are open with all of the upgrades you have come to expect. These include the granite counters, tile back splash, hardwoods or ceramic tile and custom cabinets.
The neighborhood is close to the new Elon Elementary School and Ardrey Kell High School. The prices range from the low $400's to $600,000. This is a neighborhood that will make you smile every time you come home and a delight for company. There are several parks and a community poos to further enhance the family atmosphere. If you are seeking a home with character and warmth, you have arrived. Call me today to view some of these fine Charlotte NC Homes for Sale and learn about our thrilling communities,
Visit Charlotte NC Homes For Sale and discover the great Charlotte Real Estate market.
Sunday, January 25, 2009
Fort Mill Real Estate Lancaster SC Homes For Sale
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.
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.
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.
Monday, December 29, 2008
Fort Mill Real Estate
Fort Mill SC Homes for sale continue to be one of the best deals in the greater Charlotte Real Estate market. Charlotte NC Homes For Sale provide an abundance of opportunities assured to satisfy the needs of our citizens. Let's take a closer look at Fort Mill Homes For Sale. What benefits are there to reside in Fort Mill?
Fort Mill is located in York County SC. Fort Mill borders Charlotte NC and is only 10 miles from downtown Charlotte directly down I-77. Yes, Downtown Charlotte is actually called uptown Charlotte. The name has changed back and forth over the years but now commonly known as uptown Charlotte but uptown or downtown is one in the same. This makes homes in Fort Mill a fantastic option because you can work in in town and enjoy the benefits of Fort Mill.
Fort Mill Schools have a great academic record and this feeds the demand for Fort Mill Real Estate. One convenient way to compare academics is to compare both SAT Scores and participation rates. This permits a universal system of comparison throughout the nation. The "Standardized Testing" is currently not "Standardized" and standards vary from state to state. The standardized testing is ideal for comparing schools within a given state. Unfortunately these are not a lot of help when comparing from state to state.
Fort Mill Property Taxes; South Carolina has an interesting method of assessing/collecting property taxes. SC Property Taxes are assessed at a higher rate if you purchase an investment property and home owners/residents actually will pay almost half of the taxes of the investor. This is an obvious disincentive for the real estate investor (simply purchase a home in Charlotte if you are seeking "renters"). This actually helps home owners because you have a much higher percentage of home owners and home owners take more pride and care of their SC Properties.
The property taxes are also lower in SC because of the method of school funding. South Carolina does not merely require home owners to fund all of the schools but felt in more equitable for everyone in SC to pitch in for the school funding. The state sales tax and the lottery is how the schools derive their funding. This further reduces the tax bill for the SC home owners.
Fort Mill Subdivisions offer many options and various price ranges. Most homes in Fort Mill are new. If you are looking for lake property consider Lake Wylie in Fort Mill and Tega Cay. There are golf course communities, close to shopping and all of the luxuries you were seeking. Visit Charlotte NC Homes For Sale today to discover options within Charlotte Homes and all of our suburbs.
Fort Mill is located in York County SC. Fort Mill borders Charlotte NC and is only 10 miles from downtown Charlotte directly down I-77. Yes, Downtown Charlotte is actually called uptown Charlotte. The name has changed back and forth over the years but now commonly known as uptown Charlotte but uptown or downtown is one in the same. This makes homes in Fort Mill a fantastic option because you can work in in town and enjoy the benefits of Fort Mill.
Fort Mill Schools have a great academic record and this feeds the demand for Fort Mill Real Estate. One convenient way to compare academics is to compare both SAT Scores and participation rates. This permits a universal system of comparison throughout the nation. The "Standardized Testing" is currently not "Standardized" and standards vary from state to state. The standardized testing is ideal for comparing schools within a given state. Unfortunately these are not a lot of help when comparing from state to state.
Fort Mill Property Taxes; South Carolina has an interesting method of assessing/collecting property taxes. SC Property Taxes are assessed at a higher rate if you purchase an investment property and home owners/residents actually will pay almost half of the taxes of the investor. This is an obvious disincentive for the real estate investor (simply purchase a home in Charlotte if you are seeking "renters"). This actually helps home owners because you have a much higher percentage of home owners and home owners take more pride and care of their SC Properties.
The property taxes are also lower in SC because of the method of school funding. South Carolina does not merely require home owners to fund all of the schools but felt in more equitable for everyone in SC to pitch in for the school funding. The state sales tax and the lottery is how the schools derive their funding. This further reduces the tax bill for the SC home owners.
Fort Mill Subdivisions offer many options and various price ranges. Most homes in Fort Mill are new. If you are looking for lake property consider Lake Wylie in Fort Mill and Tega Cay. There are golf course communities, close to shopping and all of the luxuries you were seeking. Visit Charlotte NC Homes For Sale today to discover options within Charlotte Homes and all of our suburbs.
Thursday, December 11, 2008
Charlotte Lake Homes
Many people have Charlotte North Carolina Real Estate in their retirement plans. Charlotte has been growing for many years and keep in mind that large land developers have been here for many years. It is incredible to find huge elaborate developments being constructed on large lakes an hour plus away from Charlotte.
Badin Lake is one example. Badin Lake is about an hour east of Charlotte. Uharrie National Forest borders the lake and Uharrie Point is a fantastic gated golf course community on the lake.
An hour south of Charlotte is Edgewater in Lancaster. Edgewater is on the 3300 acre Fishing Creek Lake and is another golf course community. This provides the low taxes of SC and still within a reasonable commute to Charlotte for amenities. The construction has just begun on this development. Interior lots range from $75,000.
There are also extensive River front developments under way (an hour away from uptown Charlotte). One example is RiverChase Estates in Lancaster SC. This is still in the predevelopment phase and this gated community will provide natural winding roads with river views.
How does this impact your retirement plans. The demand for water front property is very high. With national developers purchases large land parcels, the cost of the price escalates. The smaller homes along the lakes now have a value that far exceeds the value of the actual home. These homes will be "tear downs" and the lake front mansions will take over.
Charlotte Property opportunities? Yes there are always opportunities for great investment properties. You just need to realize that you will not find a lakefront lot for less than $100,000 and likely much more than that. Charlotte lake property will continue to appreciate and it will be wise to purchase your lot as soon as possible. The demand will only increase in time.
Visit Charlotte Homes For Sale for additional information of the greater Charlotte area or call now at 704.770.6559 for assistance. I will send you regular updates so that you can watch for that ideal home to come up for sale.
Badin Lake is one example. Badin Lake is about an hour east of Charlotte. Uharrie National Forest borders the lake and Uharrie Point is a fantastic gated golf course community on the lake.
An hour south of Charlotte is Edgewater in Lancaster. Edgewater is on the 3300 acre Fishing Creek Lake and is another golf course community. This provides the low taxes of SC and still within a reasonable commute to Charlotte for amenities. The construction has just begun on this development. Interior lots range from $75,000.
There are also extensive River front developments under way (an hour away from uptown Charlotte). One example is RiverChase Estates in Lancaster SC. This is still in the predevelopment phase and this gated community will provide natural winding roads with river views.
How does this impact your retirement plans. The demand for water front property is very high. With national developers purchases large land parcels, the cost of the price escalates. The smaller homes along the lakes now have a value that far exceeds the value of the actual home. These homes will be "tear downs" and the lake front mansions will take over.
Charlotte Property opportunities? Yes there are always opportunities for great investment properties. You just need to realize that you will not find a lakefront lot for less than $100,000 and likely much more than that. Charlotte lake property will continue to appreciate and it will be wise to purchase your lot as soon as possible. The demand will only increase in time.
Visit Charlotte Homes For Sale for additional information of the greater Charlotte area or call now at 704.770.6559 for assistance. I will send you regular updates so that you can watch for that ideal home to come up for sale.
Thursday, December 04, 2008
Charlotte Condos - Charlotte Townhomes
Charlotte Real Estate provides endless housing options and Charlotte Condos are a fantastic choice. As the population of Charlotte continues to grow, our condos and townhome options are increasing. Condos and townhomes are often a great option for singles, young couples and seniors. Townhomes provide the freedom of home ownership without the additional responsibility of lawn care. This is ideal for the busy professional. Visit Charlotte Condos Charlotte Townhomes for additional information in the greater Charlotte area.
Charlotte has a wide variety of condo options including uptown condos. Center city Charlotte has dramatically transformed over the past decade. This small city now is bubbling over with young professionals, clubs, restaurants and is full of energy.
As you travel around Charlotte you will find other options such as Rosewood in South Charlotte. Rosewood proudly boasts of million dollar condominiums. Words can not accurately reflect the corpulence you will experience in these condos.
The options are endless and really needs to be seen. There is something for everyone and the prices range from less than $100,000 to well over a million. It all depends on what you are seeking. Call me directly and I will help you discover that ideal townhome or condo that you always wanted.
Charlotte has a wide variety of condo options including uptown condos. Center city Charlotte has dramatically transformed over the past decade. This small city now is bubbling over with young professionals, clubs, restaurants and is full of energy.
As you travel around Charlotte you will find other options such as Rosewood in South Charlotte. Rosewood proudly boasts of million dollar condominiums. Words can not accurately reflect the corpulence you will experience in these condos.
The options are endless and really needs to be seen. There is something for everyone and the prices range from less than $100,000 to well over a million. It all depends on what you are seeking. Call me directly and I will help you discover that ideal townhome or condo that you always wanted.
Sunday, November 16, 2008
Charlotte Real Estate Growth and Kannapolis NC
Kannapolis North Carolina Real Estate is still a great place to buy a home especially in today's real estate market. What is so special about Kannapolis NC?
Kannapolis is located northeast of Charlotte and located in Cabarrus County. Kannapolis was a mill town built around the textile industry. As the textile industry faltered a new age began. Bio-technology has now taken control. UNC, Duke and Dole Foods began the construction of the new research park. The first employees are just beginning but the greater area is thriving with energy. The old country club has been revitalized and the old mill homes are transforming into ideal craftsman style homes. There are several great custom home neighborhoods that are blossoming.
Wellington Estates is one of these custom neighborhoods. The lots are large with an ideal peaceful setting in the country. These are 4 side brick/stone/stucco homes with side load garages. The elegance of Wellington Estates awaits your entry into our market. The neighborhood only has 9 lots remaining and these will not last long.
Consider Kannapolis for your newest business adventure and you can be assured to see dividends in the near future. Visit Charlotte Real Estate - Charlotte Property For Sale for additional information of the greater Charlotte NC region.
Kannapolis is located northeast of Charlotte and located in Cabarrus County. Kannapolis was a mill town built around the textile industry. As the textile industry faltered a new age began. Bio-technology has now taken control. UNC, Duke and Dole Foods began the construction of the new research park. The first employees are just beginning but the greater area is thriving with energy. The old country club has been revitalized and the old mill homes are transforming into ideal craftsman style homes. There are several great custom home neighborhoods that are blossoming.
Wellington Estates is one of these custom neighborhoods. The lots are large with an ideal peaceful setting in the country. These are 4 side brick/stone/stucco homes with side load garages. The elegance of Wellington Estates awaits your entry into our market. The neighborhood only has 9 lots remaining and these will not last long.
Consider Kannapolis for your newest business adventure and you can be assured to see dividends in the near future. Visit Charlotte Real Estate - Charlotte Property For Sale for additional information of the greater Charlotte NC region.
Tuesday, November 04, 2008
Instant Equity: Fact or Fiction
Many people are now seeking to purchase a home with "Instant Equity". This is the term used for purchasing a home far below market value. TV shows people making millions purchasing these homes. Unfortunately reality is not a TV show (or fortunately based on your perspective).
Real Estate Equity Loans were a Government creation to circulate additional "savings" into the economy. The additional financial fluidity looked great for a short period of time but once again the unintended consequences got us! The purpose of the loans were to allow responsible home owners to spend their home equity and stimulate the economy. The lenders did not discriminate (a euphemism for using sound judgement) based on equity percentages and time of home ownership.
Markets were thus superficially inflated, "investors" continued pulling out "equity" and living off of the "extra money" from their homes. The house of cards has collapsed! What did the investors do? Since there was not really any "equity" the Investors/magicians simply walk away and left the American public holding the bag.
The net result of this further amplified the sub prime crisis and added an entire new dimension to our financial crisis. Banks/lenders have learned from this lesson. The illusion of equity is only on paper. Banks are now more cautious about lending money for "equity". Why?
A bank lends money to generate revenue. The bank then sells the loans to investors in the stock market. The problem is that investors are no longer willing to purchase these type of "packaged loans" at the low interest rates (higher risk loans with small rates of return). The bank is left holding the bag. The banks do not have infinite resources (only our individual deposits) and can not survive on the meager rates they are charging for high risk investments.
A home was always intended to be a long term investment. We need to accept this reality. The short term appreciation rates are superficial and created by transitory programs or people (both by government and investors).
Your home equity will be there only when you sell. Do not believe the entertainment TV programs (you ever wonder why they are called "programs"?). We live in the real world. A home is a great investment for your future. Are there good deals available even in Charlotte Real Estate (Charlotte NC was not as superficially inflated so the drop is very small value/price)? Yes.
Is there instant equity? Yes and no. You need to accept this equity is in the future and currently only on paper. It is not real until you sell your home. How much is your home worth? It is worth exactly what a willing and able buyer is willing to pay. If you just purchased the home for "X" amount of dollars then you have just established the market value. There is no equity.
Sweat equity: This illusive term equates to money that the seller discounted the home based on the repairs needed. You can purchase a $200,000 home for $150,000 but need to invest another $50,000 to in order to see the $50,000 in home equity. Yes, you can do much of the work yourself. Question: if you have just performed $50,000 worth of construction work to regain your "equity", was the risk of purchasing the home really worth it?
There is a lot to consider about home equity but be very careful before tapping into this fund. Lenders are not likely to give you mare than 80 percent of you appraised value and you will pay money for the appraisal and the loan (additional equity that you lose). What will be the appraised value after you just purchased your home? Exactly what you paid for it! Be wise, be careful and purchase a home based on real value and not "perceived value".
Real Estate Equity Loans were a Government creation to circulate additional "savings" into the economy. The additional financial fluidity looked great for a short period of time but once again the unintended consequences got us! The purpose of the loans were to allow responsible home owners to spend their home equity and stimulate the economy. The lenders did not discriminate (a euphemism for using sound judgement) based on equity percentages and time of home ownership.
Markets were thus superficially inflated, "investors" continued pulling out "equity" and living off of the "extra money" from their homes. The house of cards has collapsed! What did the investors do? Since there was not really any "equity" the Investors/magicians simply walk away and left the American public holding the bag.
The net result of this further amplified the sub prime crisis and added an entire new dimension to our financial crisis. Banks/lenders have learned from this lesson. The illusion of equity is only on paper. Banks are now more cautious about lending money for "equity". Why?
A bank lends money to generate revenue. The bank then sells the loans to investors in the stock market. The problem is that investors are no longer willing to purchase these type of "packaged loans" at the low interest rates (higher risk loans with small rates of return). The bank is left holding the bag. The banks do not have infinite resources (only our individual deposits) and can not survive on the meager rates they are charging for high risk investments.
A home was always intended to be a long term investment. We need to accept this reality. The short term appreciation rates are superficial and created by transitory programs or people (both by government and investors).
Your home equity will be there only when you sell. Do not believe the entertainment TV programs (you ever wonder why they are called "programs"?). We live in the real world. A home is a great investment for your future. Are there good deals available even in Charlotte Real Estate (Charlotte NC was not as superficially inflated so the drop is very small value/price)? Yes.
Is there instant equity? Yes and no. You need to accept this equity is in the future and currently only on paper. It is not real until you sell your home. How much is your home worth? It is worth exactly what a willing and able buyer is willing to pay. If you just purchased the home for "X" amount of dollars then you have just established the market value. There is no equity.
Sweat equity: This illusive term equates to money that the seller discounted the home based on the repairs needed. You can purchase a $200,000 home for $150,000 but need to invest another $50,000 to in order to see the $50,000 in home equity. Yes, you can do much of the work yourself. Question: if you have just performed $50,000 worth of construction work to regain your "equity", was the risk of purchasing the home really worth it?
There is a lot to consider about home equity but be very careful before tapping into this fund. Lenders are not likely to give you mare than 80 percent of you appraised value and you will pay money for the appraisal and the loan (additional equity that you lose). What will be the appraised value after you just purchased your home? Exactly what you paid for it! Be wise, be careful and purchase a home based on real value and not "perceived value".
Saturday, October 18, 2008
Charlotte Country Clubs
There are a wide variety of Charlotte Homes and the luxury homes in Charlotte Country Clubs provide the life style you desire. There are a wide variety of Country Clubs in the greater Charlotte Real Estate Market and sure to meet your expectations. Lake Norman Country Clubs are very nice with great views of the lake. If you are looking for a more remote country club then consider Badin Lake to the east of Charlotte. Badin Lake is a bit too far for a Charlotte commute but offers a very serene lake and a fantastic option.
Kannapolis has a new Country Club also just minutes away from the new bio tech research park. As the Kannapolis Research Park expands, the demand for these homes will increase exponentially.
South Charlotte and Union County has the highest Charlotte Country Club density by far. This includes Piper Glen, Ballantyne Country Club, Firethorne Country Club, Providence Country Club and Longview. Longview has tremendous custom homes that are for only the most successful amongst us with multimillion dollar exquisite homes.
Visit Charlotte Real Estate and Charlotte Country Clubs for your next home.
Kannapolis has a new Country Club also just minutes away from the new bio tech research park. As the Kannapolis Research Park expands, the demand for these homes will increase exponentially.
South Charlotte and Union County has the highest Charlotte Country Club density by far. This includes Piper Glen, Ballantyne Country Club, Firethorne Country Club, Providence Country Club and Longview. Longview has tremendous custom homes that are for only the most successful amongst us with multimillion dollar exquisite homes.
Visit Charlotte Real Estate and Charlotte Country Clubs for your next home.
Friday, October 10, 2008
American Economy and the Real Estate Market
Many seem puzzled because the "Government Fix" did not serve the intended function. Why?
It is because investors are smarter than this. The Government blackmailed lenders to make high risk loans. The Government then promised the banks that Fannie and Freddie will guarantee these loans. What made the Government do this?
Our weak politicians caved to special interests and allowed themselves to be blackmailed. Special interest groups (like ACORN) threatened continuous litigation unless the corporations would submit to their fallacious claims. Groups like ACORN discovered that it is easy to blackmail the Government. The politicians buckled and found it easy to make someone else invest/lose their earned income to humor the socialistic interest groups.
Yes, Government regulation created the problem. The bail out plan did not address the problem! What? How ignorant can they really be? Or how stupid do they think we are?
Now we have presidential candidates stating that he will renegotiate home loans and interest rates! What? This is HUGE! You struggle to live within your means, take pride in personal responsibility and pay your bills. Your neighbor does not share your sense of personal responsibility and does not pay for his home.
You and you neighbor purchased homes. Both borrowed $200,000. Since your neighbor can not afford his home, the candidate wants you neighbor to pay less interest and only have him pay back $100,000. Hmmm? What do you think this did to your market value? The Government just tanked your largest investment! Why? Because you struggled and sacrificed to pay your debts. How about your neighbor? Well he wins. He is less responsible and now given a $100,000! How about rewarding responsible people?
What does this do to investors? Let's put you in their shoes. You have a half million dollars to invest. You invest this money and it ultimately goes through corporations and purchases mortgage notes. Your rate of return is based on the risk. Now you invest your $500,000 and the money backs mortgage notes.
The borrowers are high risk borrowers and the investor now is not only losing his return, he is losing his principle. There is a foreclosure process to minimize the loss. The Government now is stating that it will reduce the PRINCIPLE and the INTEREST RATE! So the Government just decided that the money that you invested (with a 5% rate if return) will now return you 2.5% (hopefully breaks even with inflation). IT DOES NOT STOP THERE! Now the Government decided that you will only get $250,000 of your principle paid back to you!
You would be less than intelligent to take your hard earned money and throw away half. This is thievery!
How can we fix this? Get the Government out of private industry! Allow business to make sound business decisions based on profitability. There do needs to be more laws. Frivolous lawsuits need to be penalized. There must be accountability to reduce the litigation based on fraudulent grounds. Corporations are placed between a rock and a hard place. They either fight frivolous lawsuits (which are often blessed by the Government) or cut their losses and just submit to the blackmail!
We are waiting for the creators of the problem to fix it! The silent majority better exercise their neurons and get the Government back out of business regulation. Then stop the blackmail and fraud.
It is because investors are smarter than this. The Government blackmailed lenders to make high risk loans. The Government then promised the banks that Fannie and Freddie will guarantee these loans. What made the Government do this?
Our weak politicians caved to special interests and allowed themselves to be blackmailed. Special interest groups (like ACORN) threatened continuous litigation unless the corporations would submit to their fallacious claims. Groups like ACORN discovered that it is easy to blackmail the Government. The politicians buckled and found it easy to make someone else invest/lose their earned income to humor the socialistic interest groups.
Yes, Government regulation created the problem. The bail out plan did not address the problem! What? How ignorant can they really be? Or how stupid do they think we are?
Now we have presidential candidates stating that he will renegotiate home loans and interest rates! What? This is HUGE! You struggle to live within your means, take pride in personal responsibility and pay your bills. Your neighbor does not share your sense of personal responsibility and does not pay for his home.
You and you neighbor purchased homes. Both borrowed $200,000. Since your neighbor can not afford his home, the candidate wants you neighbor to pay less interest and only have him pay back $100,000. Hmmm? What do you think this did to your market value? The Government just tanked your largest investment! Why? Because you struggled and sacrificed to pay your debts. How about your neighbor? Well he wins. He is less responsible and now given a $100,000! How about rewarding responsible people?
What does this do to investors? Let's put you in their shoes. You have a half million dollars to invest. You invest this money and it ultimately goes through corporations and purchases mortgage notes. Your rate of return is based on the risk. Now you invest your $500,000 and the money backs mortgage notes.
The borrowers are high risk borrowers and the investor now is not only losing his return, he is losing his principle. There is a foreclosure process to minimize the loss. The Government now is stating that it will reduce the PRINCIPLE and the INTEREST RATE! So the Government just decided that the money that you invested (with a 5% rate if return) will now return you 2.5% (hopefully breaks even with inflation). IT DOES NOT STOP THERE! Now the Government decided that you will only get $250,000 of your principle paid back to you!
You would be less than intelligent to take your hard earned money and throw away half. This is thievery!
How can we fix this? Get the Government out of private industry! Allow business to make sound business decisions based on profitability. There do needs to be more laws. Frivolous lawsuits need to be penalized. There must be accountability to reduce the litigation based on fraudulent grounds. Corporations are placed between a rock and a hard place. They either fight frivolous lawsuits (which are often blessed by the Government) or cut their losses and just submit to the blackmail!
We are waiting for the creators of the problem to fix it! The silent majority better exercise their neurons and get the Government back out of business regulation. Then stop the blackmail and fraud.
Saturday, September 27, 2008
Charlotte Real Estate Suburbs & Fort Mill Real Estate
Charlotte Real Estate continues to mature and the surrounding growth is becoming established especially in Fort Mill Real Estate. Fort Mill SC is 10 miles from center city Charlotte and provides many unique advantages for a person relocating. So what are the benefits for homes in Fort Mill?
Location and Commute: As initially mentioned, Fort Mill is only minutes from Uptown Charlotte. Fort Mill SC is located in York County South Carolina and just south on I-77 so the commute for work is ideal. You will also note the Fort Mill road infrastructure has been well planned and enables you to live in Fort Mill and conveniently work in Charlotte.
Property Taxes: Fort Mill (all of South Carolina) changed the process in which they fund the schools. The schools are now funded via the sales tax and also lottery proceeds. This provides a more equitable means of funding since renters and tourists (not claiming this to be "fair" but it is a benefit for home owners) contribute to one of the most important aspects of life style, the schools.
Fort Mill Schools: One of the great benefits of Fort Mill Real Estate are the Fort Mill Schools. The schools are among the top rated schools in the state and their SAT scores are also highly ranked as compared to the rest of the nation.
Tega Cay Real Estate: Tega Cay as initially a development within Fort Mill but is now a separate city that is surrounded by Fort Mill. Tega Cay still attends all Fort Mill schools so if you find Fort Mill Schools desirable then you will also consider Tega Cay. Tega Cay Real Estate for sale is a great option.
Visit Charlotte Real Estate to learn more about our economy, our schools, and our real estate opportunities.
Location and Commute: As initially mentioned, Fort Mill is only minutes from Uptown Charlotte. Fort Mill SC is located in York County South Carolina and just south on I-77 so the commute for work is ideal. You will also note the Fort Mill road infrastructure has been well planned and enables you to live in Fort Mill and conveniently work in Charlotte.
Property Taxes: Fort Mill (all of South Carolina) changed the process in which they fund the schools. The schools are now funded via the sales tax and also lottery proceeds. This provides a more equitable means of funding since renters and tourists (not claiming this to be "fair" but it is a benefit for home owners) contribute to one of the most important aspects of life style, the schools.
Fort Mill Schools: One of the great benefits of Fort Mill Real Estate are the Fort Mill Schools. The schools are among the top rated schools in the state and their SAT scores are also highly ranked as compared to the rest of the nation.
Tega Cay Real Estate: Tega Cay as initially a development within Fort Mill but is now a separate city that is surrounded by Fort Mill. Tega Cay still attends all Fort Mill schools so if you find Fort Mill Schools desirable then you will also consider Tega Cay. Tega Cay Real Estate for sale is a great option.
Visit Charlotte Real Estate to learn more about our economy, our schools, and our real estate opportunities.
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.
Monday, August 18, 2008
Charlotte Real Estate
Charlotte Real Estate consists of a large area consisting of many suburbs including the neighboring counties. Charlotte is in Mecklenburg County and all of Mecklenburg County attends Charlotte Mecklenburg Schools (CMS). The other cities within Mecklenburg County are Huntersville, Matthews, Pineville, Mint Hill, Cornelius and Davidson. Each of these cities have a different character and provide a small town feel but still within CMS.
Ballantyne Real Estate is also within Charlotte but is only a neighborhood and located in South Charlotte. Other popular communities within Charlotte Real Estate are Myers Park and South Park. Both of these communities are located within South Charlotte Real Estate and have outstanding academic reputations and the appreciation of these are follow the reputations.
What areas would you like to explore? Visit Charlotte Real Estate - Charlotte Homes for Sale for more in depth information for Charlotte Homes.
Ballantyne Real Estate is also within Charlotte but is only a neighborhood and located in South Charlotte. Other popular communities within Charlotte Real Estate are Myers Park and South Park. Both of these communities are located within South Charlotte Real Estate and have outstanding academic reputations and the appreciation of these are follow the reputations.
What areas would you like to explore? Visit Charlotte Real Estate - Charlotte Homes for Sale for more in depth information for Charlotte Homes.
Saturday, August 09, 2008
Charlotte Property Search
As you seek great Charlotte Property, learn more about Charlotte Real Estate prior to "believing" you have a deal. Charlotte Real Estate Property Tax Value is an indicator but an indicator of what?
Charlotte NC Property Tax provides a snap shot of the home's value. So what is a good deal? Are you looking for a real estate investment that appreciates? Every Real Estate market is local. This means that values vary in each city and even each neighborhood. Value is based on demand. the higher the demand, the higher the value. What dictates the demand? How can you tell?
Everyone knows that Charlotte North Carolina Real Estate has been appreciating for over the past decade at a moderate rate (averaging over 5%). Some neighborhoods have had much higher appreciation and others actually had negative appreciation. If the neighborhood had negative appreciation during strong economic times, it may not be wise to purchase this real estate with more stringent borrowing limits.
Learn all about Charlotte Real Estate and Charlotte values through someone that understands the market and not just a sales person.
Charlotte NC Property Tax provides a snap shot of the home's value. So what is a good deal? Are you looking for a real estate investment that appreciates? Every Real Estate market is local. This means that values vary in each city and even each neighborhood. Value is based on demand. the higher the demand, the higher the value. What dictates the demand? How can you tell?
Everyone knows that Charlotte North Carolina Real Estate has been appreciating for over the past decade at a moderate rate (averaging over 5%). Some neighborhoods have had much higher appreciation and others actually had negative appreciation. If the neighborhood had negative appreciation during strong economic times, it may not be wise to purchase this real estate with more stringent borrowing limits.
Learn all about Charlotte Real Estate and Charlotte values through someone that understands the market and not just a sales person.
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.
Wednesday, June 11, 2008
Wesley Chapel Real Estate
Wesley Chapel NC Real Estate continues to expand and evolve. It is incredible to watch the greater Charlotte Real Estate evolution. There is a balance occurring between types of homes, demographics and then the commercial real estate that must support the population.
Wesley Chapel has its grocery store with Harris Teeter. The Harris Teeter is a higher end food chain and this helps you understand the financial demand of the area. Now a Target is about to open in addition to many supporting commercial offices, restaurants and shops.
The commercial real estate in Wesley Chapel reinforces the future success of Wesley Chapel. Visit Charlotte Real Estate to learn more about Wesley Chapel Real Estate, search Charlotte homes for sale and so much more.
Wesley Chapel has its grocery store with Harris Teeter. The Harris Teeter is a higher end food chain and this helps you understand the financial demand of the area. Now a Target is about to open in addition to many supporting commercial offices, restaurants and shops.
The commercial real estate in Wesley Chapel reinforces the future success of Wesley Chapel. Visit Charlotte Real Estate to learn more about Wesley Chapel Real Estate, search Charlotte homes for sale and so much more.
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