Archive for the 'carolinas realty partners' Category

Apr 01 2011

FEATURED HOME FROM CAROLINAS REALTY PARTNERS: 4 Bedroom/3 Bath Executive Home In Charlotte’s Prestigious Ballantyne Area

Published by under Ballantyne NC Area Homes,carolinas realty partners,Charlotte North Carolina Real Estate,Featured Homes,Fort Mill South Carolina Real Estate,Indian Land,Lancaster County SC Homes For Sale

Executive Home In Prime Ballantyne Area
Situated in the center of a beautifully landscaped .61 acre cul-de-sac is this stately home with an elegant, columned entry and dramatic architecture inside. The home shows like a model with neutral, tasteful décor and quality finishes throughout.
Type: Single Family Home
Location: Ballantyne
Price: $439,500Get more information >

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Mar 11 2011

7 Reasons Why NOW Is The Time To Buy A Home In Charlotte!

Published by under carolinas realty partners,Charlotte North Carolina Real Estate,Fort Mill South Carolina Real Estate

Here are 7 Key Reasons Why NOW is the Prime Time to Buy a Home:
1. Home affordability is at an all-time high.
The median mortgage payment on the median priced home as a percentage of the median household income is lower than it’s been in a generation.
2. Mortgage rates have reached rock bottom.
As interest rates start to inch back upwards, monthly payments and total loan costs will spike upwards.
3. Buy Now; Buy Low!
After declining nearly three years, home prices are stabilizing.
4. Sellers are motivated.
This means that buyers have the upper hand! From banks looking to dispose of foreclosed properties to homeowners who are fiercely competing among an excess of housing inventory, buyers have untold choices and negotiating power.
5. Financing is readily available for qualified buyers!
Banks are getting back in the game and ready to lend to well-qualified buyers.
6. Owning vs. renting is increasingly favorable.
Since 2009, the average principal and interest payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years.
7. Homeownership is at the core of the American Dream!
Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live and a fabulous tax deduction.
If you’d like to explore some great opportunities to buy a home in the Charlotte/Waxhaw/Matthews/Fort Mill areas, call Carolinas Realty Partners.

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Feb 25 2011

Tax Season Is Upon Us!

Published by under carolinas realty partners,Finances,Homeowner Insurance,Taxes

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:

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!

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Feb 18 2011

Housing Trends eNewsletter From Carolinas Realty Partners: February 2011 Edition

Published by under About Charlotte,carolinas realty partners,Charlotte North Carolina Real Estate,Fort Mill South Carolina Real Estate,Homeowner Tips,Real Estate Newsletters

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.

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Feb 15 2011

FEATURED HOME FROM CAROLINAS REALTY PARTNERS: Custom Home On Large Lot In Prime Charlotte Suburb!

Published by under carolinas realty partners,Charlotte North Carolina Real Estate,Featured Homes,North Carolina Homes For Sale,Union County NC Homes For Sale,Waxhaw NC Homes for Sale

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.

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Feb 14 2011

Happy Valentine’s Day From Carolinas Realty Partners!

Published by under carolinas realty partners,Charlotte Lifestyle,Holidays

Happy Valentine’s Day From Carolinas Realty Partners!

On this special day, our thoughts turn to all those who have touched our lives…our families, our friends, our clients, our colleagues.  We wish you a beautiful Valentine’s Day filled with lots of joy and fun, and please make sure to take time out today to truly feel the love around you.

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Feb 10 2011

THIS MONTH IN REAL ESTATE: Report From Carolinas Realty Partners In Charlotte For February 2011

Published by under carolinas realty partners,Charlotte & Business,Charlotte North Carolina Real Estate

 February 2011  Market Update

Gradual improvement in the housing market continues at a steady pace without government support. Six months after two consecutive years of tax incentives for buyers; starting in July 2008 with a $7,500 repayable first-time buyer tax credit, extending to a $8,000 nonrepayable first-time buyer tax credit in January 2009, and ending in June 2010 with the expanded credit to repeat buyers; the market has shown remarkable improvement from the initial drop this past July. With mortgage rates remaining near historic lows and home prices having generally stabilized, economists are expecting further strength in 2011.

Consumers are showing some signs that they’re feeling better: a significant boost in the food and services industry implies they are eating out more, vacations are back on the rise as spending on travel and tourism increased 8% in the third quarter, and household net worth has risen notably thanks to a strong stock market even as they continue to shrink their debt.

As the economy improves, current stimulus efforts by the government and the Federal Reserve Board are expected to gradually wind down, which typically means rising interest rates. Meanwhile, buyers continue to benefit from historically favorable buying conditions and sellers enjoy increased stability in the market.

Home Sales

in millions

The uptrend in existing home sales activity continued through December, increasing by a substantial 12.3% from a month ago. This marks the fifth monthly increase in the past six months and indicates a recovery that’s gaining a firmer footing. While home sales remained 2.9% below the level seen last year, the market’s upward momentum, despite the absence of the tax credit, is a welcoming sign.

Home Price

in thousands

Home prices softened in December: median home prices edged down slightly to $168,800, 1% below the year-ago level. Contributing to this is a larger share of distressed homes sales which accounted for 36% of sales in December. This is compared to 33% in November 2010 and 32% in December 2009. Prices continue to hold steady and mortgage rates remain historically low, offering favorable buying opportunities.

Inventory- Month’s Supply

in months

The surge in home sales and a shrinking inventory pared down the month’s supply to 8.1 months. This is down 1.4 months from November but remains 0.9 months above last year at this time. While still at a relatively high level historically, months of inventory has declined steadily from its peak of 12.5 months in July and is now back to pre-tax credit expiration levels.

Source: National Association of Realtors – December housing data released Janurary 20.

Interest Rates

Mortgage rates are inching up but remain historically low. This trend continues to support home buying, as it translates to significant savings for buyers. As overall economic recovery remains on track, rates are expected to rise to keep inflation in check.

Type
Rate
30 year fixed
4.81%
15 year fixed
4.08%
5/1-year ARM
3.69%
30 year average for a 30 year fixed rate mortgage

8.9%
Source: Freddie Mac, Rates as of Feb 7 .

This Month’s Video

Topics For Home Owners, Buyers & Sellers


  ‘Anti-Flipping’ Waiver Extension

In 2003 the Federal Housing Administration (FHA) feared that flipping homes was the cause of the skyrocketing home prices throughout individual neighborhoods. Because of this, the FHA no longer approved property loans that were resold within 90 days of the original purchase, with the exception of foreclosures owned by government sponsored enterprises (GSEs) such as FHA, Fannie Mae, and Freddie Mac. The anti-flipping rule is designed to help protect the FHA’s mortgage insurance program and federally chartered financial institutions from losses.

In February 2010, the FHA initiated a one-year suspension on the regulation that prevented “flippers” from purchasing single-family homes and releasing them into the market within 90 days. Since then, the FHA says it has insured 21,000 loans that had exchanged hands within the previous 90 days. The loans are worth more than $3.6 billion and would not have qualified for financing before suspension. An analysis of these loans suggest they do not present a greater credit risk than other loans, which lent support to the suspension’s extension. 

The government sent a notice to banks in mid-January of 2011 in which it announced the extension of the waiver through the end of the year. According to FHA Commissioner David Stevens, the purpose of the extension was to accelerate the resale of REO properties in neighborhoods where there is a high rate of foreclosure. This will facilitate the purchase of homes that have recently been “flipped.” As a result, foreclosed properties will be moved off the market faster, reducing the amount of vacant homes in neighborhoods throughout the United States.

Limitations considered by the FHA consist of the following:

  1. 20% Rule. If resale is higher than 20% of the original price, one must show proof of justified price. For example, if a $200,000 house is purchased and the resell price is $245,000, the house must undergo additional underwriting guidelines, which is considered a double appraisal.
  2. Title Hold. No simultaneous closings are allowed when the seller holds a property. In other words, back-to-back, same-day closings to an FHA end-buyer is prohibited.
  3. Short-term Funding. Investors must come up with short-term funding of the 30-to-60-day variety if their desire is to buy/fund and in order to sell to an FHA end-buyer.
  4. Previous Flips. A property cannot show signs of prior flipping activity. If so, the FHA has the right to object.
  5. Transactions at Arm’s Length. Transactions must show no identity of interest between the buyer and the seller or other parties that participate in the sale of a property.

Overall, this will help lower holding costs for investors/flippers allowing them to continue flipping more properties. In return, this will help bring more desirable homes to the market for first-time home buyers.

Source: Inman News, ReatlyTimes.com

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Jan 20 2011

Charlotte, NC Named 11th Best City For Shopping!

Published by under About Charlotte,carolinas realty partners,Charlotte & Business,Charlotte Lifestyle,Charlotte North Carolina Real Estate

 

Forbes has named Charlotte, North Carolina as the 11th best city out of the country’s 25 largest cities for retail shopping! Forbes’ study actually ranked Charlotte ahead of New York City and Los Angeles! Go Charlotte!

Having now lived in Charlotte for 13 years after living in shopping “meccas” like New York City, Paris, London I can attest to how much shopping has improved in the Charlotte metro area. Unlike in the “old” days, you don’t need to leave Charlotte any longer to get a healty dose of retail therapy!

Forbes’ ranking focused on ease, options, and affordability of shopping. Charlotte has 6,225 retail outlets, 21 shopping centers and I’ve been telling relocating clients to Charlotte there’s hardly anything they can’t find locally these days.  Here’s a link to the entire Forbes Study for the best shopping cities.

If you are thinking of moving to the Charlotte and Fort Mill metro areas, contact Carolinas Realty Partners. We’ll be delighted to send you a comprehensive Newcomer’s Package on the area.

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Jan 14 2011

Tax Deduction For Mortgage Insurance Extended Through 2011!

Published by under carolinas realty partners,Finances,Home Financing,Mortgages,Taxes

The tax deduction for mortgage insurance that was set to expire has been extended through 2011. So if you are paying insurance on your home mortgage here are some things you need to know to qualify for the mortgage insurance deduction this year:

  • If your adjusted gross income is no more than $100,000 you may be able to deduct 100% of mortgage insurance premiums you pay in 2011.
  •  But if your income is more than $100,000 you may take a partial deduction.
  • You must have purchased your home between January 1st, 2007 and December 31st, 2010.
  • If you’ve just recently purchased your home and have pre-paid your insurance premium, you may deduct this entire amount.
  • Second homes are not eligible for deductions; you can only deduct mortgage insurance premiums on a primary residence.

If you itemize on your tax return, don’t forget that you are eligible for other deductions related to home ownership, such as loan origination fees, property taxes, mortgage interest paid. As always, you want to consult with a tax professional.

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Dec 31 2010

Happy New Year From Carolinas Realty Partners In Charlotte, North Carolina!

Published by under carolinas realty partners,Charlotte Lifestyle,Holidays

The passing of another year gives us time to pause and reflect all that has been and all that will be. 

Carolinas Realty Partners wish you and your loved ones a very happy, prosperous and joyous New Year.

2011 will be a great year to buy real estate–home prices have never been lower and interest rates are at 50 year lows. Call us when you are ready to consider property in the Charlotte metro area, Fort Mill metro area, Waxhaw, Marvin, Matthews, Mint Hill, Weddington.

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