Looking at our overall housing market at a regional level to include Mecklenburg County and surrounding areas you will see that while we have our issues, Charlotte is not drastically sliding price wise. If you are considering buying or selling take a look at these charts and contact me with questions. I am here to help.
Today’s market is a buyer’s market with interest rates well below 4.5% for a 30 year fixed interest rate mortgage. We should be seeing more buyers stepping out to look at homes for sale and real estate in our housing market. Traditionally this time of year sellers have opportunity from Labor Day through Thanksgiving. If you are considering selling this year, start preparing your home now.
If you are considering buying a home, there are many opportunities for you to find just the right home for sale in the Charlotte area. With mortgage interest rates at an all time low of under 4.5% for a 30 Year Fixed Rate Mortgage, it is time to buy if you have been considering purchasing a home. Interest rates and the number of homes for sale at great prices can't be beat.
I work with buyers and sellers throughout our area. Here are a few great homes for sale I have listed in the Charlotte Real Estate Market and surrounding areas. If you are looking in Midwood, South Charlotte, Huntersville, Cornelius or Union County (Indian Trail, Matthews, Waxhaw, Monroe) you will find a home for sale here. Of course if none of these homes are what you are looking for, feel free to contact me for a free list of homes for sale.
Many sellers today are looking for that edge over the competition. What will make my house sell? How can I be next? Here are 10 Tips to a Great Showing:
1. Rid Your Home of Clutter. Clean your counters off. Get rid of any stacks or piles of bills, newspapers, magazines and projects! Clear your personal products off bathroom counter-tops. Make sure you can see 90% of your kitchen counter-tops from front to back. Pick up all toys and get them out of sight! Never just stack them on the wall.
2. Open Blinds & Curtains. Bringing natural light into your home is important. Along with this you must ensure your windows, window sills and screens are clean. This will go a long way to brightening any home. Remember, all buyers are going to look out your windows to identify room locations and positions with exterior views. Darker homes should consider leaving lights on if opening blinds and curtains are not enough.
3. Clean, Clean, Clean. The best impression you can make is a clean home. Before you leave each day ensure the counter-tops and floors are clear. Make the kitchen and bathrooms shine. No fingerprints on the walls, doors or appliances. Double check closets are clean. No dust bunnies!
4. Remove Smells. No one wants to come into your home and smell kitty litter or pet urination or your dinner from last night. Make sure to use your vent when cooking and take time to clean kitty litter regularly (more than you would if your home weren’t on the market). If you need an air freshener get a neutral scent. Don’t over mask a smell. That always ends up worse!
5. Prepare Buyer’s 1st Impression. Cut your grass, use an edger, clear debris like leaves and branches from the yard. Water flowering plants. Step outside and look at your front door. Then look up, down and around to ensure your buyers will be looking at a neat and clean entrance. Put your water hose up when you are done watering and cleaning.
6. Bathroom Etiquette. Clear your counters and put your toilet seats down. No toothbrushes, toothpaste or any other personal items should be on the counters. Nice hand towels should be out and clean. Ensure all your clothing is picked up before you leave the home everyday. Surprise showings happen! Do a last wipe down before you leave the home each day if possible.
7. Secure Your Pets. Leaving your animals to roam is never the best way to show your home. Safety is important for your pet. Consider a kennel. If you can take your pet with you or find a place outside your home for your animals. Share instructions or pet names with your agent and the showing service.
8. Leave the home. If a buyer’s agent is showing your home. Leave home before the buyers show up. It is a courtesy that will go a long way. Buyer’s agents will follow up and address any questions their buyer has.
9.Garage, Laundry Room & Basements. Don’t leave these rooms as your dumping ground. Get closing containers if you need a place to store last minute items in a clean and neat fashion.
10. Create a Checklist. In today’s market you have to be ready on a moment’s notice. Don’t let a last minute showing get to you. Have a checklist of items to look for in your home before you leave to ensure you aren’t caught by surprise. Do a little of it in the evening before you go to bed and then touch it up in the morning. Enlist your family’s help!
When you consider buying a home, thinking about the tax deduction makes it a winning move. The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership.
Consider This As You Consider Buying a Home:
On a $150,000 Loan for 30 Years, at 5 percent interest:
$7,500 = Mortgage interest paid
Property Taxes at 1.29 percent on $175,000 Assessed Value for taxes:
$2,258 = Property taxes
______
$9,758 = Total deduction
Then, multiply your total deduction by your tax rate.
For example, at a 28 percent tax rate: 9,758 x 0.28 = $2,732.24
$2,732.24 = Amount you have lowered your federal income tax (at 28 percent tax rate)
Lowering your taxes means money in your pocket! Thats over $225 per month.
Note: Mortgage interest may not be deductible on loans over $1.1 million. In addition, deductions are decreased when total income reaches a certain level. Information from Realtor.Org.
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1. Organize, Clean and Neutralize. Get rid of clutter and pack up un-used items, such as large mixers and other kitchen appliances and tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or attic. Also, consider a yard sale or selling items online or at a consignment store. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine. Power wash the exterior of your home and entry. Also, make sure you are using the room for it’s intended purpose and that furniture size, quantity and positioning is considered for each room. Neutralize your paint colors if you personalized colors. As a rule of thumb, bold colors, no matter how easy it is to paint, are always an issue. A rainbow of room colors is never popular with buyers. This is the most important part of preparing to sell your home.
2. Find Your Warranties/Property Information. Put together the warranties, guarantees, and user manuals for the HVAC System, stove/range, washer and dryer, dishwasher, and any other items that will remain with the house. In addition, locating the property survey, floor plan, HOA dues payment schedule and amount, property management company for community, neighborhood covenants, restrictions and regulations and any other details you received when you purchased the home can help your Realtor market your home to the fullest!
3. Wooing the Buyer With Curb Appeal. Put your buyer hat on and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments? Is the entrance clear of cobwebs?
4.Have a Pre-Sale Home Inspection. If your home is more than a few years old be proactive and arrange for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before showings begin. This can save you on the back end of your home sale during the inspection period between the initial contract signatures and closing. Many homeowners go into this period not knowing what to expect relative to additional expenses. Peace of mind comes with a home inspection.
5. Get Replacement Estimates. Do you have big-ticket items that are worn out or will need to be replaced soon, such as your roof, appliances or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help you when buyers bring the issue up, and will be handy when negotiations begin. Buyers today are savvy, have your information together.
All of these items are more important than ever as you prepare to sell your home. Be ready to look at your home through buyer eyes and remember it is a buyer’s market and many sellers are competing with you. Find the winning edge and keep it throughout the selling process. Call Help-U-Sell Buy Today for expert assistance in selling your home today. We are here for you from start to finish, offering advise and feedback on where to start and how far you should go before your home is ready to sell.
With the current economic crisis, many counties are raising property taxes in an attempt to balance their fiscal budgets and reduce their deficits. According to a survey by the National Association of Counties, a group that represents county governments.property taxes, about 18% of counties whose fiscal year begins between January and June increased property taxes to address revenue shortfalls.. There are some ways you can your property tax bill, one being a property reassessment..
Typically the property taxes are calculated based on an official assessment of the home’s value. Because the value of most homes have dropped in the last few years, you can challenge what the value of your home is currently valued at and thus reduce your tax by hundreds of dollars. Even before you seek an assessment, it is a good idea to check your records to make sure there are no mistakes. Simple typos and incorrect information can cause homeowners to be.charged more than they should.
Whether you are planning to sell your home in the near future or are planning to stay for a few more years, it is worth trying to get a reassessment. Keep in mind that if you can reduce your taxes, you not only will save money on taxes, but it will be a great selling tool.
Before the 1970′s, household paint often contained lead. Although it is no longer sold, it can still post a serious danger. As lead paint ages, it can chip or crumble into dust. If you live in or own an older home, you need to know how to protect your family. Lead-based paint is a major source of lead poisoning for children and can also affect adults. In children, lead poisoning can cause irreversible brain damage and can impair mental functioning. It can retard mental and physical development and reduce attention span. In adults, it can cause irritability, poor muscle coordination, and nerve damage to the sense organs and nerves controlling the body. Lead poisoning may also cause problems with reproduction and may increase blood pressure. Young children, fetuses, infants, and adults with high blood pressure are the most vulnerable to the effects of lead
If your home was built before 1978, there is a very good chance that there is lead paint. If you are buying a home or even leasing a home, federal law requires a lead-based paint disclosure be supplied. It is possible that the current owner has no idea or if the home is for sale by bank they have no prior knowledge of the contents of the home. Because of the wide spread usage of lead paints before 1978, it is a good possibility that you will find evidence of lead paint. Home kits are available and while they will tell you if there is lead they are not a good predictor of hazard. A paint inspection can be requested with or without a risk assessment. The EPA recommends hiring a trained and certified testing professional who will us a XRF machine, lab tests of paint, dust and soil samples.
While paint isn’t the only source of possible lead contamination; it is the most common. If you think your family may have been exposed, it is important to get tested. Children who may have been exposed to lead-based paint should have a blood test to see if they have elevated blood levels.
When shopping for a new home, especially if it is your first time, it can be intimidating when reviewing your different loan options and types. You will see and hear many different terms when dealing with lenders, agents and brokers. Below are some of the common terminology used so you can become familiar when going thru home buying process.
Annual Percentage Rate (APR): The APR for your home loan is an annual cost that includes the interest rate quoted by your mortgage company plus additional home loan costs such as origination fees and points. Required by law, this amount is to be disclosed to the homeowner by the lender under the federal Truth in Lending Act. This amount includes up-front costs paid to obtain the loan but does not include the PMI, title insurance, appraisal, and credit report.
Closing Costs: These are the expenses aside from the price of the property that are incurred by buyers and sellers when transferring ownership of a property. These costs include origination fees, property taxes, charges for title insurance, escrow costs, appraisal fees etc. Many times these costs are shared by the buyer and the seller.
Escrow: During the home loan process, a neutral third party known as Escrow holds documents and money (including earnest money deposits) for safekeeping until the real estate transaction is complete.
Points: The amount paid either to maintain or lower the interest rate charged. Each point is equal to one percent (1%) of the loan amount. This means that, to lower your interest rate by one point on a $300,000 mortgage, you’ll need to pay an additional $3,000 at closing.
Private Mortgage Insurance (PMI): If you are purchasing a home and you do not have a the traditional 20 percent down payment, lenders will require you to carry private mortgage insurance. Private mortgage insurance will usually require an initial premium payment and may require an additional monthly fee depending on your loan’s structure.
Title Insurance: This type of insurance protects both the buyer and the seller against legal issues that may arise with a home’s title. If a problem occurs, the title company pays the associated legal fees to correct the situation.
There are many different terms out there that will come up when you buy a home and apply for a loan. If you are ever confused or have any questions about a particular term or contract be sure to ask your realtor or real estate attorney for clarification before signing any legal documents.
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