Charlotte Homes for Sale
Nina Hollander
(704)779-0813

It’s that time of year again… getting ready to file 2010 tax returns. From Carolinas Realty Partners in the Charlotte/Waxhaw/Fort Mill metro areas, here are some helpful resources as you get ready to file your taxes:

For the latest changes in tax law for 2010, visit the IRS website. 

For helpful tax tips and updates, you can follow the Taxpayer Advocate Service on the following websites:

• www.youtube.com/tasnta
• www.facebook.com/YourVoiceAtIRS
• www.twitter.com/YourVoiceAtIRS

For information on your taxpayer rights go to the tax toolkit at http://www.taxpayeradvocate.irs.gov/

 As always, it’s wise to consult a tax professional.

And don’t forget, this year’s tax deadline is April 18th!

For many people living in or moving to NC, the best real estate purchase is one that combines the comfort of home with a piece of history. Buying a historic home in Charlotte, Waxhaw or Fort Mill is fairly common in today’s market, thanks to an incredible real estate climate and one of the most dynamic historic districts in the state.

However, if you’re simply looking at the intricate architecture and are thinking how great it would be to own a piece of the city’s history, you might want to take a step back and consider all the work involved in becoming a historic home owner.

Home Quality

The most important consideration for purchasing a historic home in Charlotte is the quality of the house. Whether you’re looking at a bungalow or a mansion, you have to remember that time is rarely kind to real estate.

In addition to outdated materials (like plaster instead of drywall or lead pipes) and difficult-to-work-with architectural styles, you have to consider the costs of restoring the house with authenticity in mind. Many materials are no longer available or can be costly if you want to maintain the historic integrity of your home. The same is true of the availability and cost of craftsman qualified to work with your particular home.

North Carolina Housing Regulations

Many historic homes are overseen by governing bodies that regulate what you can and can’t do to your own home. If you’re in the market to purchase a historic home, make sure you know who you will have to go through to get the right permits for renovation, or if you’ll need to register and pay a fee to get your home listed as an authentic historic site. You might also want to note what kind of tourist interest you will get from having a historically-listed site.

Financial Investments

Fortunately, not everything about owning a Charlotte historic home is hard work! Historic homes, when restored with authenticity, safety, and modern comfort in mind, are an incredible financial investment. Many people are willing to pay top dollar for homes that are in perfect shape or that have a keen attention to detail.

Many local governments also offer tax credits and tax freezes for those who maintain a certain level of quality in their registered historic homes. This means that a historic home can be a great investment, as well as a beautiful piece of architecture.

Finding and Buying Your Historic Home

When refurbished to contain all the modern amenities today’s families need and enjoy, a historic home can become a showpiece – both for your own visitors as well as those interested in the history of Charlotte, Fort Mill and Waxhaw. As with all real estate purchases, however, this one should be made after much consideration and under the guidance of your trusted agent.

If you’ve been thinking about buying a home this year, there are some good reasons why you might want to do so sooner rather than later. Our “lending partners” at American Home Mortgage recently updated us with the following news about what we can expect in the mortage loan markets in the forseeable future:

• FHA loan limits are currentlly $303,750 in the Charlotte metro area.  The current base loan limit for the country for FHA is $271,050.  FHA rates were increased to help during the housing crisis, but this temporary boost is set to expire on October 1, 2011.  The current intention of the administration is to let the limits go back down to the base loan limits. This means your “borrowing power” with an FHA loans may well decrease by $32,700 by the fourth quarter of 2011.
• The administration has recommended raising the FHA up-front mortgage insurance from 1% to 1.25%. Don’t be surprised to see something happen during 2011 raising the amount of up-front mortgage insurance on FHA loans.
• The administration is recommending that Fannie Mae and Freddie Mac raise their minimum down payment from 5% to 10%.  We would expect considerable debate on this issue, but if this goes through, home buyers will need twice as much in cash to put down than they do today. Still hard to say when this might pass.
• Currently the loan limit for conforming loans is $417,000 for the Charlotte metro area.  (Beyond that amount, you are into a jumbo loan.) Fannie Mae has annouced that the high cost loan limit of $729,400 in other parts of the country will drop to $625,500 as of October 1, 2011.  While this may not impact the Charlotte region this year,  most experts agree that Charlotte area’s conforming loan limits could also go below $417,000 at some point in the forseeable future.

To learn more about the administration’s direction for “reforming America’s housing finance market” you can read their recent press release:
http://www.treasury.gov/press-center/press-releases/Pages/tg1059.aspx.

So no matter “how you slice it,” the longer you wait to purchase a home, the more it will cost you!

Want more information about buying a home? Contact Carolinas Realty Partners!

Welcome to the most current Housing Trends eNewsletter from Carolinas Realty Partners. This eNewsletter is specially designed to provide you with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the Housing Trends FEBRUARY-2011 Newsletter, which contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is also filled with local Charlotte area real estate sales and price activity, as well as  national real estate sales and price activity as provided by Multiple Listing Services and the National Association of Realtors (NAR), U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report from Carolinas Realty Partners.
Sound decisions can only be made with accurate and reliable information, and Carolinas Realty Partners in the Charlotte/Fort Mill metro areas are happy to be a trusted resource for you. Call on us at any time for help with buying a home, selling a home, relocation to the Charlotte area.

Location:   Waxhaw, North Carolina

Type:   Single Family Home

Bedrooms:   4

Bathrooms:   3 full, 1 half

Heated Living Area:  3501 Square Feet

Price: $410,000

Carolinas Realty Partners are pleased to present 2501 Winding Oaks Trail in the beautiful and exclusive Brantley Oaks community, located close to Matthews, Weddington, Waxhaw, and Ballantyne. Brantley Oaks features estate-sized, wooded lots and luxurious, custom homes in a park-like setting.

Situated on a beautifully landscaped, wooded, and private .94 acre lot, this custom-built, brick home with a 3-car, side-load garage features classic Southern architecture with a rocking chair front porch. The home has been impeccably maintained and features neutral, tasteful decor and highest quality finishes throughout. Truly luxury living at its best!

You’ll enjoy an easy lifestyle in this beautiful, move-in ready 4 bedroom/3.5 bath home with formal dining room; formal living room with glass French doors; dramatic 2-story foyer; gleaming hardwood and custom tile floors throughout the home as well as generous millwork. The open, flowing floor plan is perfect for casual living, as well as more formal entertaining.

The home’s gourmet kitchen with granite counters, tile backsplash, center island, custom cabinets, and stainless steel appliances will please any chef.

The spacious great room is open to the kitchen and breakfast area and features a gas-log fireplace, French-style windows, gorgeous hardwood floors.

The home’s second floor features a spacious and serene master suite with trey ceiling and luxurious master bathroom with deep garden tub, oversized shower, his & her vanities and large, walk-in closet. In addition, there are three, good-sized bedrooms and two full bathrooms.  An over-sized bonus room, which can be used as a recreation/media room, teen retreat, playroom, is the “perfect flex space.”

The large screened porch and open deck are a natural extension of the home’s living and entertaining areas.

All Charlotte metropolitan areas, great shopping, casual and fine dining, golf, business centers, primary local roads, and Charlotte’s airport are within easy reach.

Low Union County taxes and low community association fees are an added plus.

For a virtual tour of this home or a detailed on-line brochure for this beautiful home. Or contact Carolinas Realty Partners for more information or a private showing.

Happy Valentine’s Day From Carolinas Realty Partners!