Dec 21 2011
Happy Holidays From Carolinas Realty Partners
Happy Holidays From Carolinas Realty Partners
Dec 16 2011
Charlotte-Area Foreclsoure Filings Decline 35% In November!
Foreclosure filings in Mecklenburg County, where Charlotte is located, had a steep decline in November versus the same time frame in 2010–35% fewer filings! November filings were also somewhat lower than October 2011. The number of homes seized by financial institutions also dropped significantly from 404 to 249 year-to-year.
This great news extends to the entire Charlotte metro area, as foreclosure filings for Mecklenburg and and neighboring counties of Gaston, Cabarrus, Anson, Union in North Carolina and York County in South Carolina also dropped to 1,104 from 1,312 as compared with one year earlier–a 16% drop!
In many parts of the country, foreclosure shadow inventory levels are decreasing–boding well for home prices in the coming year.
Shadow Inventory Levels
For more detailed information about foreclosures in the Charlotte metro area visit RealtyTrac. For more information about foreclosure homes for sale visit GreatHomesInCharlotte.com.
Dec 02 2011
How to Mend Foreclosures in Charlotte
A foreclosure can do more than ruin your view, they can hurt the financial health of your neighborhood. But you don’t have to let it ruin your home equity.
Prevention makes the biggest difference. Be a good neighbor. If you know one of your neighbors is going to foreclose find out what you can do to help keep the property looking nice and be sure to maintain your property. If the neighborhood looks nice chances are the foreclosure won’t be vacant long.
If you see broken windows, trash in the yard, or overgrown weeds, report them quickly. You don’t want to problem to get worse. This isn’t a big problem in Charlotte, Waxhaw or Fort Mill, but being prepared will continue to prevent a foreclosure from hurting housing prices. An eyesore can turn into a health or safety hazard quickly.
Another option is to help sell the North Carolina property. Call Nina Hollander with Carolines Realty Partners to help sell your Charlotte metro area property. Talk up the area and see if you know anyone who’s looking to buy in your area.
Don’t waste your time trying to find out who owns the house to make them take responsibility, and avoid trying to fix the problems without permission. Go through the proper channels.
Nov 15 2011
Charlotte Metro Area Real Estate Options: Buying New Versus Older
The decision of whether or not to buy a new Charlotte home versus an older Charlotte home is one that doesn’t always come easy. The Charlotte metro area real estate landscape is one that offers a wide range of home types, including everything from centuries-old historic homes with completely renovated interiors to brand new houses in family-friendly communities.
Depending on what you want out of your home, finding the right style for you can be a lot of work – fortunately, it can also be quite a bit of fun.
Costs of New vs. Older Homes
In the past, deciding which type of home you wanted was largely a matter of price, since most older homes came in at a considerably lower price tag than new developments. In today’s market, however, there are new and historic homes that fall into the entire spectrum of housing costs – as long as you know where to look.
Older homes with renovated interiors have the double advantage of supplying old world charm and the latest in kitchen and bathroom amenities. However, older homes that haven’t been updated with modern heating, cooling, pipes, or electricity can become a financial drain. In this same way, newer homes with jetted tubs and a pool out back might provide everything you need to live comfortably, but there might be a trade-off when it comes to lot size and unique architectural features.
Of course, location matters, too. Charlotte and Waxhaw homes for sale that have a little bit of historic charm tend to be found within small, unique neighborhoods closer to the downtown center. New development homes and those in gated communities tend to be found further out, especially in more suburban regions where there is more room for growth. These differences in location can have an impact on housing prices, since you may have to pay more for proximity to the city.
Benefits of an Older Home
Although all older homes vary – especially when it comes to things like updates, renovations, and location – most of them provide great benefits from an aesthetic point-of-view, including:
- Craftsmanship and architectural details
- Unique layouts
- Larger lot sizes
- Centuries-old features
- Mature landscaping
Benefits of a Newer Home
New homes tend to come with a much lower level of hassle, which can be a great boon to those buying a house for the first time or for young families who may not want to put a lot of time into their residence. Some of the features of a new Charlotte home include:
- Less maintenance overall
- New pipes, roofs, appliances, electricity, etc.
- Larger storage spaces/More square footage
- Often closer to family-friendly features like schools and parks
- Energy efficient updates
Which Home is Right for You?
If you have been considering buying a Charlotte home for awhile, you might already have a good idea of what you want out of your house, and what types of architecture appeal to you the most. However, many of the benefits of old homes (or new homes) can’t really be appreciated until you see them first-hand.
Ask Nina Hollander with Carolinas Realty Partners in the Charlotte, Waxhaw, Fort Mill area to show you the best of both worlds, and you might be surprised by what really draws you in. Just remember that every house – even the new ones – will require a little bit of work before they really start to feel like home.
Nov 14 2011
THIS MONTH IN REAL ESTATE: November 2011 Market Update From Carolinas Realty Partners/Keller Williams
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November 2011 Market Update While home sales in September were down slightly from a relatively strong month in August, they were up from a year ago, giving encouraging signs of a strengthening market and potential for stabilizing, if not appreciating, home prices. These signs include an increasing demand, shown by the number of people shopping for homes, and the decreasing inventory of homes for sale, in conjunction with some of the lowest levels of new housing construction since 1960s when the Beatles first came to the United States. Of the homes sold in September, 32% were first-time home buyers. With more and more people entering the market, the persisting obstacle for most is still the restrictive lending environment. In a plea to banks and policy makers, NAR President Ron Phipps said, “We need to remove the roadblocks to a housing recovery—not place more obstacles in the way of financially qualified buyers.” With an increasing demand and shrinking inventory, it is hoped that banks will begin to see the market potential and start to lend to otherwise creditworthy home shoppers, opening the road to a more rapid recovery. While consumer confidence still remains at all-time lows, retail spending increased 1.1% last month, a positive sign of growth fueled by the approaching holiday season, which could propel the U.S. into a promising new year.
Home Sales (in millions) Home sales were 4.91 million in September, down 3.3% from a strong August in which were 5.06 million, but still 11.3% above September 2010. Lawrence Yun, NAR chief economist, states, “affordability conditions have improved to historic highs and more creditworthy borrowers are trying to purchase homes, but the share of contract failures is double the level of September 2010. Even so, the volume of successful buyers is higher than a year ago and is remaining fairly stable—this speaks to an unfulfilled demand.” If lending standards loosen, we can expect to see an increase in home sales.
Home Price in thousandsHomes prices were down, with a 3.5% drop in September compared to a year ago. The national median price for homes in September was $165,400, with distressed properties, foreclosures, and short sales still accounting for 30% of sales. This is a great opportunity for those potential buyers still thinking about purchasing a home, especially as the housing industry begins to show increasing signs of stability.
Inventory- Month’s Supply in monthsWith stronger sales than a year ago, the amount of homes for sale was reduced to 3.48 million units, or an 8.5-month supply at the current sales volume. With the lowest new housing construction in almost fifty years, the inventory of homes on the market is projected to continue to decline, which is a positive sign that prices could begin to climb again.
Source: National Association of RealtorsInterest Rates Mortgage rates were down again, from 4.35% in September of last year to 4.11% this September. While the Federal Reserve continues to put downward pressure on interest rates to spur sales, Congress’s recent action to lower loan limits has further tightened lending among banks. This had the biggest impact in the Western states, which experienced an 8.8% drop in sales. This was mainly due to the concentration of more expensive properties in California, where buyers rushed to purchase properties in August before loans limits dropped on the October 1 deadline.
This Month’s Video
Topics For Home Owners, Buyers & Sellers Did you know that the housing and building industry accounts for nearly 40% of the world’s energy and raw material consumption? Our ability to “green our homes” truly has the ability to change the world. The principles of green are really about understanding priorities for a well-lived life—living healthy, being smart with money, and acting more sustainably. We typically spend more than 80% of our nonworking or commuting hours inside our homes. Because we spend so much of our lives inside, it only makes sense we make a healthy inside zone the first priority. Here are a few DIY tips from Green Your Home to get you started:
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Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed in This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate. |
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Oct 24 2011
“Fixing” Your Home’s Layout
One of the first things homebuyers look for when shopping for North Carolina real estate is the layout of the house. Like the location of the house and its overall size, layout is one of the things about a home that cannot be changed without a very large time and money investment.
In the current Charlotte real estate market, many of the things that make a house unique – its paint color, flooring, the kitchen counters, and even the size or type of the windows – are being upgraded to entice buyers. But if your home has a restricting layout, which makes the house look smaller, darker, or inaccessible, you might have a difficult time making a “quick fix” to increase your chances of a fast sale.
Fortunately, there are things you can do to make your NC home for sale more appealing. If you do have a layout that might be sending out the wrong signals, you can try the following.
Remove the clutter. Staging your house is an important part of any home selling process, but never more so than when your layout might be confining or restrictive. Extra furniture, shelves, tables, and even the rack where you hang your coats all add to the inaccessibility of the house as a whole. By displaying your space as open and clearly as possible, you are allowing homebuyers to see the house through fresh eyes.
Add room dividers. A very long (or even a tiny) living room or a bathroom that is taken up almost entirely by a washer and dryer can be a difficult sell, because buyers might not see how the space is livable. Room dividers, or screens set up in strategic locations, are one of the tricks that decorators often rely on to maximize space, since they add clean lines and more storage opportunities.
Open up the entryway. Although this task might require a little bit of construction work on your part, opening up the home’s foyer to make it more appealing and inviting is often all you need to do to allow your home to shine. Most homebuyers make a decision about a house within the first 6 seconds, so you have to make those seconds really count.
Adjust your bedrooms. If your Waxhaw house has adjoining bedrooms, or if your Fort Mill condo has a bedroom right off the kitchen, you might want to re-market the space. Few people want to sleep in a room that offers reduced privacy, but if you stage it and/or list it as an office, a library, a playroom, or even an add-on, homebuyers might be more tempted.
The NC real estate market is on its way up, but selling a home can still be a challenge – especially if you own a challenging home. By taking a little extra time to adjust the way you see your house, as well as the way it is presented to others, it is possible sell that house faster and with a higher price point.
Sep 23 2011
Buying vs. Renting in Today’s Real Estate Market
Rental properties and homes for sale in Charlotte provide a great opportunity for those who want to live in this wonderful, vibrant city, and many area residents take advantage of both housing options. However, one of the most common questions that arise regarding the Charlotte and North Carolina real estate landscape is just how beneficial it is to buy a home rather than rent one.
The question is a good one in today’s real estate market. While buying a house was once lauded as the best choice for people of all backgrounds, the truth is that buying a home is a big investment that takes time, preparation, and careful planning.
Reasons to Buy a House in the Current Market
It doesn’t matter whether you’re considering a Charlotte house or a Waxhaw condo – the reasons for buying a house are good ones regardless of what type of real estate you’re after. Why?
- Interest rates are low right now. With so many foreclosed homes on the market and more sellers than there are buyers, banks and mortgage companies are offering added incentives for homebuyers. If you plan on taking out a 15- or 30-year mortgage, this can translate to savings in the tens of thousands of dollars.
- Foreclosed properties offer great deals. Although the NC real estate market is doing fairly well these days, there are still more foreclosed and discounted homes on the market than there were five or even ten years ago. If you are in a financial position to buy, you may be able to get more home for your dollar than in another economy.
- You can make an investment in the future. Given the state of the current economy, most house values are set to rise over the next few years. If you do purchase a Fort Mill home or a house in any of the outlying areas, you’re likely to see an increase in your home’s resell price within five to ten years.
Reasons to Rent a House in the Current Market
While we always encourage individuals interested in potentially buying a home to contact us to discuss their options, there are some key triggers that might indicate you’re better served as a renter. These reasons include:
- Little to no down payment saved up. Although there are zero-down programs available (particularly for first-time State homebuyers), it’s always a better financial decision to put some money into your home purchase.
- The possibility of moving or relocating soon. Charlotte homes for sale provide a great bargain right now – but they may not increase in value enough to immediately resell it. Buying a home and then needing to sell it right away can be a strain, since it’s likely to remain a buyer’s market for at least a few more years.
Contact Nina Hollander For More Information
If you’re ready to start looking at Charlotte or Waxhaw homes for sale, or if you’d like more information on the benefits of buying a home versus renting one, call us today. Sometimes, it’s impossible to know if buying a home is right for you until you sit down with one of our trusted professionals and get all your questions answered.
Aug 22 2011
Maintaining Distance When Selling Your NC Home
Selling a home in Charlotte or Waxhaw can be a very personal experience. After all, this is the place you’ve lived for years. Maybe you renovated the interior with your own two hands. Maybe you got married here. Maybe this is even where you raised your kids. No matter what it is that makes your home, well, home, the decision to sell isn’t one that comes lightly to everyone.
The personal attachment we all have to our homes is part of the reason it can be difficult to sell a North Carolina home.
- Homeowners who associate positive memories with a house are more likely to value it at higher than the market rate. This can make it difficult to find a balance between what you think your home is worth and what it will reasonably sell for.
- Staging a home you love (and still live in) can be more challenging than staging an empty space. Packing away your personal belongings (e.g., pictures, knick knacks, books) to give your home a more streamlined and sell-able look for up to months at a time can put a strain on your enjoyment of the home selling and buying process.
- It can also be hard to put all your trust in another person’s hands. Selling a home in Charlotte and the outlying areas often requires that you have open houses, walk-throughs, and open doors to everyone from real estate agents to nosy neighbors. Having others view your home – oftentimes while you are not there – requires that you put personal reservations about privacy aside.
Although this paints a rather bleak portrait of what selling a home entails, the truth is that people buy and sell homes every day. They upgrade to new family homes in Charlotte suburbs and move to downtown condos with chic views – and are usually more than happy with the outcome.
One way to get past issues of trust and privacy is to put your home in the hands of a real estate agent you trust. Your agent works as an advocate for you and your house, making sure that everything proceeds safely and with a minimal hassle. And because your agent knows the Waxhaw real estate landscape, it’s easier to settle on a price and a staging set up that will get you faster results.
Nina Hollander has been working in the North Carolina area for years, and knows exactly what it is that makes local homebuyers interested. To minimize your anxiety and sell a NC home quickly and easily, feel free to call our office today.
Jul 25 2011
Featured Home From Carolinas Realty Partners: Reduced $26,000 To $399,000 In Prime Charlotte Neighborhood
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Country Living In The City! Welcome to 6117 Cherry Tree Lane—a custom-built, Low Country-style brick home with lots of “old Charlotte charm, situated on a 1 acre, fenced, private cul-de-sac in a picturesque and park-like setting with lots of mature landscaping and shade trees. Type: Single Family Home Location: Providence Plantation/South Charlotte Price: $399,000 Get more information > |
Jul 23 2011
Carolinas Realty Partners’ Houseing Trends Newsletter: July 2011
Here’s your link to our May 2011 Housing Trends eNewsletter, as well as updates on trends in 150 metropolitan housing markets. This newsletter provides you with up-to-date articles, tips, and advice for current and future homeowners. Whether you’re looking to buy or sell, have recently moved, are staying put, or you simply want to stay current with real estate trends, there’s something for everyone in our Housing Trends eNewsletter. Enjoy!
Have questions about Charlotte housing? Need answers about buying or selling a home in the Charlotte metropolitan area? Contact Carolinas Realty Partners serving Charlotte, Waxhaw, Fort Mill, Matthews, North Carolina!