Nov. 29, 2009 - Ballantyne Real Estate

Ballantyne continues to be very popular and the home prices remain strong.  If you look at Charlotte Foreclosures you will note that very few are in the Ballantyne and South Charlotte regions.  This is largely because the homes still have equity.  How can that be?

The greater Ballantyne or South Charlotte Real Estate market has appreciated much more than other areas of Charlotte NC.   Homes with equity do not fall into foreclosures; the owners can afford to sell and at least break even after paying their expenses.  This is why there are not many foreclosures in Ballantyne.

There is an occasional Ballantyne Foreclosure but there are many ready willing and able home buyers standing by.  If you would like the opportunity for a Ballantyne or South Charlotte Foreclosure then you better be ready to buy.  A preapproval from a reputable  Bank or Mortgage broker is required.  In addition you must be ready for a quick close.

Contact me immediately for a customized Charlotte Foreclosure homes search or visit Charlotte Real Estate for more Charlotte NC information.                                                                                           

Nov. 13, 2009 - Marvin NC Home for Sale

Marvin NC Real Estate is a stunning example of affluence and popularity.  Marvin North Carolina has a perfect location.  Marvin in in North Western Union County and just across the Charlotte Real Estate border.  This is the South Charlotte/Ballantyne border! 

South Charlotte and Ballantyne are very affluent areas of Charlotte.  The South Charlotte area is known for shopping, fine dining and a country club lifestyle.  Marvin NC was a very rural community 8 short years ago but now a very outstanding Charlotte suburb.  Marvin homes are very large and are awe inspiring. 

One feature that is so attractive in Marvin are the schools. Marvin Schools have a reputation for excellence and outstanding academics.  If this sounds like your type of community, visit Marvin Real Estate to Learn more of visit Charlotte NC Homes for Sale to learn more about Charlotte Real Estate and Charlotte Suburbs.

Nov. 9, 2009 - Weddington Homes for Sale

Weddington NC Homes for Sale provide a great Charlotte Real Estate suburb option.  Weddington is located in Union County which is south/southeast of Charlotte.  Weddington has the benefits of a rural community, low Union County Taxes and close to the affluent South Charlotte area and Ballantyne.

Weddington subdivisions tend to have homes with large yards and primarily brick homes.  Weddington does not have a Post Office and most of the homes in Weddington have a Matthews NC mailing address.  This can be confusing since Matthews NC is actually in Mecklenburg County (similar to Charlotte) but Weddington is in Union County which has a completely different tax base.  Union County taxes are lower and the schools of Weddington have very high academic standards; over 90% of students in Weddington continue their education onto higher learning.

Learn more about Charlotte Real Estate Suburbs and Weddington Homes for Sale.  Contact me for a customized Weddington search since the standard search is verry difficult to find Weddington homes (homes are often listed under "Matthews" and not Weddington).

Oct. 23, 2009 - Charlotte First Time Home Buyers

The Charlotte NC Real Estate market is showing extreme activity in the lower price ranges.  First time home buyers are making decisions to purchase their first home prior to the first time home buyer credit expiration.  Things are about to swing back after the expiration of $8,000 Federal Tax Credit.

Interest rates are beginning to rise so this pushes "home affordability" downward.  I heard a vicious rumor from our politicians.  The story is that there is a lot of fraud going on to falsify loans.  Being familiar with the lending regulations, it would be near impossible to counterfeit all of the required documents.   That claim would entail fraudulent tax returns, pay stubs, bank statements and credit reports????

It sounds like a smoke screen to provide cover for canceling the program.  The Government is not canceling a program to help first time home owners but stopping fraud.  I am not believing their story but I suspect this is a trial balloon to give politicians cover for allowing the program to end.

Ultimately, the wise first time home buyer has already taken advantage of the program.  There is still time but you must place an offer in within the next week in order to close in time.  Visit Charlotte Real Estate today to get your home and take advantage of the first time Charlotte Home Buyers Tax credit.

Aug. 10, 2009 - Charlotte Homes for Seniors

One fast growing segment is our seniors.  I have been working with several seniors relocating to Charlotte NC lately and there are several recurrent themes: the price and the weather.  Many people up north do not like the weather but as we age our perspective grows.  As a retiree they realize that half of their life is spend hibernating in the winter.  This is no way to live.

There are many factors to consider for your retirement home.  First you should always look ten years down the road.  If you were ten years older do you think that there will come a time when you do not want to walk stairs?  How about your spouse?  What would be your quality of life if you could not walk the steps? 

A Charlotte Single family home, a Charlotte Townhome or a Charlotte NC Condo?  These are important factors to consider now.  A single family home typically has a less expensive HOA but you also have more responsibility.  You will need lawn care and more for 9 months of the year.  The positive side is that you will have more privacy and a yard to garden and relax.

A Charlotte townhome is nice because you typically get a very small yard and a very small front entry to plant.  You will pay more for home owners association dues but do not have any responsibility for the exterior but you will still have neighbors attached.

A Charlotte Condo allows you the most freedom but it will remind you of apartment style living.  You will likely have neighbors living above and/or below you in addition to you.  This also provides a great mechanism to become socialized as you relocate.

There are many thing to consider when purchasing your new Charlotte Real Estate.  Do yourself favor,  give me a call and I will help you focus and find a great deal for you.  Visit Charlotte Real Estate - Charlotte Homes for Sale to day to learn and understand the greater Charlotte Real Estate market.              

Jul. 29, 2009 - Chalotte Land for Sale

Many people relocating to Charlotte NC Real Estate do not understand the greater Charlotte market and base assumptions on their local market.  Real Estate is local.

Charlotte was a very small town 20 years ago.  Most of the land in the suburbs of Charlotte NC was owned by farmers.  They did not have a home in Charlotte on a couple of acres but on a hundred acres.   When they get ready to sell (as many already have) the Charlotte Land owner gets the most money from a developer.  The vast majority of the homes to buy are in subdivisions.  That is not "bad" but please do not be disappointed when you discover that an older home on three acres does not exist in the areas surrounding Charlotte Real Estate.  If the Charlotte property owner lived in the suburbs, there was a very good chance that he barely managed to get by.  The land owned was very small and the home was well used.  The suburbs was farmland.

There is also a lot of difficulty obtaining a mortgage for land.  Raw property loans are very high risk.  During difficult financial times, which would you let go?  Your primary home of investment land?  That is exactly why it is hard to get a loan on land.  Now if a lender does make the loan, the bank knows the next buyer will have a difficult time.

Buying Charlotte Property and Charlotte Land is always wise but you need to have your financing in order as you begin developing an actual plan.

Visit Charlotte NC Homes for Sale for more information  of the greater Charlotte Real Estate region.

Jul. 21, 2009 - Charlotte Real Estate - Stucco Homes

Are there any Stucco Homes within Charlotte Real Estate?  Is there problems in the Carolinas with Stucco homes?  What is hard stucco compared to Synthetic Stucco?

These are questions that many home buyers have.  North Carolina Stucco homes had a lot of bad press beginning in the 1990's.  The problem was with synthetic stucco.  Most buyers do not understand the difference between synthetic stucco and hard stucco so they just avoid stucco homes completely.  That is just another benefit of working with an experienced Charlotte Realtor.  I will simplify the conversation so that it is easy to remember.

Stucco is and was basically a layer of concrete spread over the brick exterior of a home.   A stucco finish adds a lot of character to your home.  This is and was very durable and will remain so.

In the 1980's, the US began using a technique called synthetic stucco that was in use in Europe for decades. Basically a three layer process was used.  First a layer of foam board is secured to the home, followed by a layer of concrete and finally a finish coat.  If it had been tried and tested in Europe for decades then there would be no problem, right?

The problem was that in Europe the buildings were stone and brick.  In the US the foam was attached to a wooden structure.  Big difference!  In time, cracks appeared around windows and doors.  Many were even just settling cracks.  This created the problem.  Moisture began seeping in behind the foam and being trapped behind your walls.  This was discovered in Wilmington NC with home inspections.  The vast majority of the homes tested positive for high moisture content is the wood framing.  Moisture within your walls promotes wood rot along with mold and mildew.

Bottom line: avoid synthetic stucco.  Regular or "hard" stucco is still safe.  But how do you determine which stucco is good or bad?  The easiest way is to "tap" on the stucco.  Synthetic stucco is hollow and hard stucco is solid.  If for some reason you find a synthetic stucco home that you love, visually inspect around the windows and doors.  You will frequently see the first evidence of moisture issues at these locations.

In conclusion there are some Charlotte Stucco homes but be very careful if considering Synthetic Stucco.  For additional information on Charlotte Real Estate - Charlotte NC Homes for Sale.

Jul. 7, 2009 - Charlotte Foreclosures and Charlotte Luxury Homes

It is incredible to experience this Real Estate market first hand!  Within Charlotte Real Estate we have great diversity and a wide range of price points.  First there are the homes under $100,000.

These homes are in the most economically challenged areas in the greater Charlotte Real Estate market.  Due to the continued popularity of Charlotte there is a huge demand for these homes.  Half of them will be under contract at all times.  This gives you an idea of the competition and the continues aggressiveness of our Real Estate market.

From the $150,000 to the $300,000 there is foreclosure activity but this group actually receives the smallest discount.  The homes may not be "dumped" like the group discussed above but there is still great demand.  Most Charlotte property owners can afford this price range so there will continue to be a lot of activity here.  Higher activity means banks have less of a need to deal.

There are great deals on higher end homes.  Many of these Charlotte NC Foreclosures are new homes!  Charlotte custom homes builders are an accumulation of builders from across the country.  They all swarmed here based on our market.  They abandoned Florida and New York for Charlotte.  Then based on the Charlotte Housing frenzy, they began building million dollar homes everywhere.  Some were very well positioned, some subdivisions just outpaced the growth and others were just not very well considered.

One example of great opportunity is in Providence Downs South.  This custom home community is spectacular.  It has all of the expectations for a million dollar community but it simply grew too fast. many custom home builders gobbled up lots and built spectacular homes.   The problem is that these buyers are now gone (or at least holding onto their funds for a rainy day).  The home buyers were going to be the New Yorkers looking for a better life, the Floridian escaping the hurricanes and entrepreneurs from across the country ready to begin their newest business adventure. 

New York and Florida lost much of their property values.  There went the cash for their next million dollar home.  Then there were the sales commissioned employee that purchased homes during the boom.  The final group are the builders that built based on speculation.  Many of these million dollar homes are vacant and there are fantastic deals to be had.  Success is not by those making money in good times but successful people are the ones that positioned themselves to seize opportunity during the struggling times.

If you are looking for a deal that is too good to pass up, give me a call today.  There are homes selling for less than they cost to construct. In a few years you will have enjoyed your home for a fraction of the cost and now have several hundred thousand dollars in equity!  You really can not lose if you buy now at the right price. 

Visit Charlotte Real Estate or call Rick Waite at 704.770.6559  today and together we will find you a great new home that you can not afford to pass up!

Jun. 24, 2009 - Charlotte NC Homes for Sale

Charlotte NC Homes for Sale still maintains an edge over much of the country due to the popularity of Charlotte North Carolina.  So how does this benefit the industry and what does this mean to the rest of the nation?

The old saying was watch California because the nation was ultimately following California trends.  Over the past decade (actually Charlotte has been steadily growing for a few decades now), Charlotte NC Real Estate continued to expand at a steady rate.  We did experience a spike after the Florida Hurricanes but our spike was insignificant in comparison to the vast majority of the hot markets (southern California, Seattle, Vegas, Phoenix, Florida, D.C. and New York for example).  What are the drivers of Charlotte Real Estate and why should Charlotte be considered as reflective of the national trend?

One of the leading demographic groups that still have money are the seniors.  Yes, many also lost a small fortune but the boomers are the ones with the money.  Yes, they earned it through a life time of sacrifice and deserve what they earned.  What are they doing with it?  Where is is being spent?  Where are they going?

Prior to the hurricanes in 2005 Florida was the recipient of this most coveted group of citizens.  Times have changed and now Charlotte has become the destination of choice for many seniors.  Note the growth of Sun City Carolina Lakes in Indian Land SC just south of Ballantyne and south Charlotte NC.  They are discovering that Charlotte is closer to the northeast, our climate is more desirable and they enjoy the pleasant and friendly attitude that is customary in the south.

Another factor is banking.  Yes, banking has been through dramatic changes over the past couple of years based on the sub-prime fiasco.  Regardless money is the economy and "follow the money" still holds true.  A financial capital in the south?  Affordable housing in a moderate climate?  An international airport with a major airline hub (US Airways)?

If you were starting a business, where would it be easier to attract employees?  Where do you think you would need to pay more to entice new employees?  As you consider these factors you quickly realize Charlotte will continue in great demand.  Now back to our real estate market.

Charlotte Real Estate expansion is driven by people relocating from all over the nation.  As homes sell all over the nation it frees up citizens and many will relocate to Charlotte.  Charlotte growth is dependent upon the nation.  As Charlotte Real Estate picks up, you know the overall national economy is picking up.  Charlotte is a national picture.

Follow Charlotte and you will see the nation.  Yes, our activity has picked up but the specific demand has changed.  Yes, everyone wants a steal because that is what the media tells them is available.  The Charlotte economy is not comparable to Miami or Phoenix.  Yes, those are examples of markets that have taken dramatic hits but the prices in these areas also experienced unsustainable appreciation for many years.  They are experiencing a correction. 

Charlotte is not a "fad'.  Charlotte Real Estate will continue to grow.  Is Charlotte "perfect"?  No.  Do we have our growing pains? Yes.  But one thing we have is a very diverse market and very diverse suburbs.  There is something for everyone and that is a true reflection of America.  Visit Charlotte Real Estate - Charlotte NC Homes for Sale to learn more about the greater Charlotte rela estate market.

Jun. 2, 2007 - Charlotte Home Appreciation

Everyone wants to find a great home at a great price.  The problem is what is a great deal?  How about if a home is for sale "under" tax value.  What does that really mean?  First you must understand "tax value".  Charlotte typically assesses home value every 4 years.  Values can change dramatically on 4 years.  If a home is being sold for less than tax value, then either you are getting a great deal or the home has actually depreciated since the previous evaluation.  The Charlotte Real Estate market is strong and if a home is depreciating is a strong market, I do not recommend that home.

Appreciation rates vary based on the aggregate demand.  If you are looking for  high rate of return and a great home, give me a call.  I work with Re/Max in Charlotte and I Can help.  Visit www.FindMyCarolinaHome.com for additional information about the greater Charlotte area.

Jun. 13, 2006 - New Construction Homes

Buying a new home?  New Construction is exciting!  The builders are experts in marketing, staging their models and training their sales people.  Why should I waste my time or insult my intelligence with a Buyer's Agent?  I know what I want and I know what is best for me and my family!

This is the sentiment of many new home buyers.  Let's discuss what is best for the builder and what is best for the buyer. 

Saving money:  The builder already has the commission fixed in his price.  Actually the price of the home is fixed by market value.  If a builder can get $10,000 more for his home, he will.  The builder can not just give you $10,000 and not the next person.  This will ultimately depreciate the remainder of his homes.  He would be destoying his own business.  The builder sells for market value.

But Rick: builders offer free discounts all the time!  True, but there is a reason.  Early in a development the builder frequently offers discounts.  The builder offers these incentives to get their development recognized.  All in the marketing plan.  The downside to being early is you will have a very difficult time selling your home any time soon.  First you will be competing with the builder and secondly, you are living in a construction zone.  There are other reasons for incentives and we can discuss those on future blogs.

Builder Marketing:  The employees of the builder will provide you all of the positive data required for you to purchase their product.  You will be impressed from their trained sales staff.  Is that what is best for you and your family?

Buyer's Agency:  A good Buyer's Agent will provide you invaluable information about the state of the development including resale values.  A Buyer's Agent has a feduciary responsibility to protect your investment; not the investment of the builder.  I know what is overpriced, what costs are normal and what is inflated.  My job is to do what is in your best interest.  I value the happiness of you and you family and that is what should come first.

I appreciate the work of the builders and they have their job down to a science.  It is an admirable business model.  But what is best for the builder may not be what is best for you and yours.

Looking for a new home:  Hire a Buyer's Agent.  The Buyer's Agent is of no cost to you and will help protect one of the largest investments you will ever make.