Real Estate Information Archive

Many people we have recently talked with are confused as to where they should be placing their money. The fact is, many banks are reporting an influx of monies coming into their banks, which is known as “Intermediation”. People are hoarding their money because they fear what the future may bring. The sad part about this is that monies that are placed in a checking/savings are earning extremely low interest. Even CD’s (Certificate of Deposit) are also offering very low interest rates.

One thing we do know for sure is that past history shows how real estate always seems to find a way to survive the toughest markets. It may be down now, but it is a pretty good bet that a rebound will occur.

We think that most people are missing the boat by having their money sit in a bank when they could be taking advantage of some of the best real estate deals that have been offered in a long time. In addition, interest rates are being offered below 4% by some of the lending institutions!

The ones who take advantage of a weak real estate market and extremely low mortgage rates are the ones who really profit from our weak economy. Think about this…If you purchase a house that two years ago was worth $300,000 and is now being offered at $195,000, chance are that within two years that house has a good chance of going back up in value to maybe $230,000 - $250,000. Take the lower of the two and figure your rate of return on your money. It is way, way, way more than what it would have been just sitting in the savings account.

And here is your morning coffee...

INSPIRATION FOR TODAY:

"Begin to be now . . . what you will be hereafter."

~ St. Jerome

TAKE THIS QUIZ!

Here's a short list of questions. Take time to answer them and today's message will be crystal clear. It needs no further explanation, so enjoy!

Name the five wealthiest people in the world.
Name the last five Heisman Trophy winners.
Name the last five winners of the Miss America pageant.
Name ten people who have won the Nobel or Pulitzer Prize.
Name the last half dozen Academy Award winners for best actor and actress.
Name the last decade's worth of World Series winners.

How did you do?

The point is, none of us remember the headliners of yesterday. These are not second-rate achievers. They are the best in their fields. But the applause dies. Awards tarnish. Achievements are forgotten. Accolades and certificates are buried with their owners.

Here's another quiz. See how you do on this one:

List four teachers who aided your journey through school.
Name three friends who have helped you through a difficult time.
Name five people who have taught you something worthwhile.
Think of a few people who have made you feel appreciated and special.
Think of five people you enjoy spending time with.
Name half a dozen heroes whose stories have inspired you.

Easier?

The lesson?

The people who make a difference in your life are not the ones with the most credentials, the most money, or the most awards. They are the ones that care.

Mortgage rates for fixed-rate mortgages have reached historical lows in decades, creating stable payments and long-term savings for today's homebuyers. Additionally, the number of foreclosures and short sales on the market have increased. The combination of these factors generally equals greater affordability, and makes now a good time for many to consider homeownership.

Be the first to find out about bank-owned properties for sale in the greater Charlotte area! www.foreclosedhomesofcharlotte.com Follow the link to receive FREE email alerts of new bank-owned properties for sale in the greater Charlotte, NC area.

Here are my top picks for the week. Call me today at 704-458-4636 to schedule your personal tour of any of these homes and many more! **Some of the homes listed below may or may not be foreclosures.

	8000 Turnberry Lane Price: $385,000 Beds: 4.00 Baths: 2 Sq Ft: 2800 Outstanding four bedroom, two and a half bathroom home located in Cowans Ford Park. Enter this home through the welcoming foyer offering hardwood flooring, crown molding, a transom window and a coat closet for your convenience. The powder room offer... View this property >>
	5861 Rolling Ridge Drive Price: $1,790,000 Beds: 5.00 Baths: 6 Sq Ft: 7000 Welcome to 5861 Rolling Ridge Drive. This spectacular 5 bedroom, 6.2 bath, custom home features everything you could ever dream of...and more. Spectacular five bedroom, six full bath, two half bath, custom home located in the gated community of Pine... View this property >>
	15114 Carrington Ridge Drive Price: $199,900 Beds: 4.00 Baths: 2 Sq Ft: 0 Remarkable four bedroom, two and a half bathroom home located in the subdivision of Carrington Ridge; offering a clubhouse, playground, pool, and recreation area. The welcoming 2-story foyer invites you into this home offering hardwood flooring, pal... View this property >>
	6096 Diamond Pl Price: $449,000 Beds: 4.00 Baths: 3 Sq Ft: 0 Amazing full brick, two story, custom basement home located in Harrisburg in the subdivision of Eldorado Hills. Home offers four bedrooms, three and half baths and a bonus room. Home includes a three-car courtyard styled, side-load garage complete w... View this property >>
	1632 Lombardy Circle Price: $319,000 Beds: 2.00 Baths: 2 Sq Ft: 0 Craftsman style two bedroom, two and a half bathroom condo with a basement located in Dilworth in the complex of Lombardy Green, within walking distance of restaurants and Freedom Park. The inviting foyer greets you with warmth offering hardwood flo... View this property >>
	6108 Milhaven Lane Price: $100,000 Beds: 5.00 Baths: 3 Sq Ft: 2314 All brick five bedroom, three full bathroom home with a basement located on an acre of land. The welcoming foyer greets you with hardwood flooring and a coat closet for your convenience. The great room offers hardwood flooring, large windows for nat... View this property >>
	3721 Millstream Ridge Drive Price: $239,900 Beds: 3.00 Baths: 2 Sq Ft: 0 Full brick three bedroom, two full bathroom patio home located in the Dominion Village section of Highland Creek. Enjoy all the amenities of Highland Creek, without the hassle of yard work – it’s included in the HOA! The welcoming foyer ... View this property >>
	363 Tranquil Avenue Price: $399,900 Beds: 3.00 Baths: 2 Sq Ft: 1938 Beautiful three bedroom, two full bathroom ranch home located in the subdivision of Myers Parks. The spacious entry hall greets you with hardwood flooring, crown molding and side lights in the door. The living room offers hardwood flooring, crown mo... View this property >>
	5012 Tribecca Street Price: $288,500 Beds: 4.00 Baths: 2 Sq Ft: 2700 Stunning four bedroom, two and a half bathroom, two story Townhome located in the community of McKee Place. The two-story great room offers plenty of natural light, gorgeous hardwood flooring, a fireplace with mantle, and transom windows. The modern... View this property >>
	5126 Bentgrass Run Drive Price: $199,900 Beds: 3.00 Baths: 2 Sq Ft: 2000 Gorgeous three bedroom, two and a half bathroom home with an unfinished basement located on a well manicured lot in the sought after swim and golf community of Highland Creek. Enter this home through the inviting two-story foyer offering hardwood fl... View this property >>

There can be alot of information about the real estate market in Charlotte NC but the numbers from the Charlotte NC Multiple Listing Service puts it all in perspective.  Some of the numbers are good and some are disappointing. 

Stats for Charlotte MLS – Sept 2009:

27,580 listed homes for sale in the 15 county Charlotte MLS territory

1,945 homes sold and closed in Sept. for the entire 15 county area

291 homes sold and closed in the $150K to 190K price range

439 homes sold over $250K – 94 over $500K – 10 over $1 Million

Avg. closing price for all of Charlotte in Sept. was $196,760 – last year was $216,777 (DOWN 9.2%)

Mortgage rates are a full 1% lower this Sept (5.04%) then last Sept. (6.09%)

Sales in Sept 2009 were up 4% over sales in Sept 2008 (Recovery?)

Avg. time on market 143 days for those homes that sold in Sept.

Here is the shocker – Avg. Sales price to List Price 89.4% (10.6% below the listed price at time of contract)

Needing more information concerning the Charlotte real estate market?  Call me and we can discuss how we can work with this market to sell or buy your home.
 

In Money magazines recent article - Saving $500 Every Month or More (September 2009), they sited a few great home saving tips. 

1. Energy Audit - Check you home for energy leaks either through Duke Power or energystar.gov (user guide).  SAVINGS $40/month.
2. Automated Heating & Cooling - Set a programmable thermostat which should cost $50 and then set it to lower heat after bedtime and warm up the house before you wake in the morning. SAVINGS $15/month.
3. Go Florescent - Use CFB which use 75% less energy and last 10X's longer.  They cost more but you will recoup your money in 6 months. I am just not certain I love the mercury in them and how to dispose of them (just my opinion!). SAVINGS $7/month.
4. Put on a Sweater - In our house, I am always wearing layers to my husband's shorts and T-shirt in the winter.  However, for every one degree you lower the temperature you will cut 1% off your heating bill. SAVINGS $8/month
5. Clean the Carpet - No need to hire a pro each time.  Rent a carpet cleaner for $20 and save the $200 that most cleaning services charge.
6. Fix that Leaky Toilet - It is a simple as a valve in the tank (the flapper thingy).  The part costs between $3 to $5 but a plumber will charge $70.
7. Weather Strip Your Door -  A handyman will charge $65 to install the stripping and door sweep to seal a door from the elements, but you can buy the supplies for $15 at a hardware store and do-it-yourself! 

        Monthly Savings - $93

While the current housing market in Charlotte, NC is not as vigorous as it was 4 years ago, the upside is that mortgage rates are hovering at 5.35%.  If your current loan rate is 6.35% or higher and you will be in your home for at least 3 more years, look to refinance. SAVINGS $250/month on a $300,000 home with closing costs at $6000.

Moving to a smaller home will also help cut costs too. SAVINGS $568/month if moving from a $300,000 home at 5.5% to $200,000 home at 5.5%. 

Not sure what to do first?  Call Heidi and she can give you advice...and it's for FREE!

The National Association of REALTORS (NAR) reported in October that existing home sales increased over 5 and a half percent -- a sign of improved housing affordability. The estimated annual volume has been revised upwards from of 4.91 million to 5.18 million units for 2008, representing a 1.4 percent increase over the previous year. The combination of lower prices, higher inventory and low mortgage rates have all contributed to the increase in sales.

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http://www.charlottencrealestatesource.com/newsletter.asp