Sell a Home in Charlotte
Thinking about selling your home in Charlotte? Getting it ready to sell? Should you sell your Charlotte home now?
So, how is the market in Charlotte? for sellers? In a word, Tough. We have 30% fewer buyers in the market- that means atleast 3 in 10 homes on the market won’t sell… I’ve written often in the past year that if you don’t HAVE to sell, you should wait. This is Not a move-up year, and I’m quite sure prices will improve over the next two years. Still, some of you have to sell, and if you have to sell, it can be done…
I’ll assume something significant in your life has changed and you have to sell. I just had 2 closings on homes folks had to sell (July, 2008) and one had a contract in 9 days and the other took 60 days, the first in north Charlotte and the 2nd home sold in South Charlotte. I also personally sold 2 homes in July,one in Union County and one in South Charlotte, so I have Buyer perspectives to share as well. For the details, see the posts below.
Why did these homes sell when others haven’t? We know there are fewer buyers, but atleast our market has the 70% of
what we had before… so what explains my sellers good fortune, how did they get in the 70% of homes that sold?
Team Work. Team work expressed through homes in great condition and properly priced. This created an effective home to bring to market, and then we let our terrific marketing (our more than 500 Intenet “signs”) bring buyers…
A little background… Both homes were built in the mid-1990’s with open floor plans. The less expensive north Charlotte home had all new paint, new carpets, new exterior paint and a number of spruce ups–making it a home in very good condition. The 2nd home was in South Charlotte, popular Beverly Crest, and also had new painting in and out, new carpet, and it also had new appliances, and granite counters, making it a home in very good to excellent condition.
In both cases these homes were at or near “best in class.” This makes perfect sense- with 30% fewer buyers in the market, which 30% of the homes Don’t sell? The vast majority are homes in poor condition… so that is rule number one today, your home must be updated and in excellent condition to sell. Anything less, and it sits–there are too many perfect, or “needs nothing” homes for buyers to consider homes that need work.
Then there is marketing- and the most important part of any marketing mix is price. Presentation is important, Internet presence is vital– but if the price is wrong, too high, all the other marketing efforts are for nothing… no amount of pretty pictures will make someone buy a property if there are other nicer properties for less around the corner or in the next neighborhood. It is more complicated than that, but today’s Internet home buyer can review a number of properties online, and decide from there which they want to see. It is not unlike a shopper in a store reviewing half a dozen similar products for fit, value, and price. Homes priced too high Don’t get shown, buyers eliminate them online.
One other key ingredient to these homes quick sales: convenient locations. The gas crisi has magnified the advantages of the markets closer to Uptown Charlotte- that simple. Myers park, Dilworth, Eastover, Southpark, Beverly Crest, Matthews– these have shorter Days On market, and have held their value or increased, much better than the further out suburbs .
If you need to sell your home, we can assist. I’ll be happy to prepare a a Total Market Report closely looking at your home’s competition, most likely sales price, list prices and what you would net from the transaction. So call me at 704-351-1519, or send me an email Contact Terry to discuss Listing Your Home
Notes from two buyer negotiations here
Charlotte- More Good Years Ahead
Search Charlotte Homes- By Area
Charlotte NC Friday Things To Do This Weekend 11-21
November 21st, 2008 categories: About Charlotte, Things To Do Charlotte
Fun Things To Do In Charlotte for The Weekend, and Thanksgiving Activities…
Reba McEntire and Kelly Clarkson perform tonight at the Time Warner Cable Arena, 333 East Trade (Home of the bobcts if the name isn’t familiar) ticket at www.ticketmaster.com, or 704-522-6500
The UNC Charlotte Dance Ensemble’s fall concert plays this weekend, with tix available for Friday and Saturday night. More
Watch Charlotte Grow is an ongoing (thru January) Exhibit at the Charlotte Museum of History. This is a great local museum for children and adults alike. More here.
You can have a drink and watch indy movies at Ballantyne Village Center- click here for this weekend’s movies. You’ll find them at 14825 John J. Delaney Drive , Charlotte, NC 28270
Thursday take time out to run in this year’s South Charlotte Turkey Trot sponsored by Sharon Road Methodist Church and the Leukemia and Lymphoma Society- . Nearly 20,000 are already registered for th 1mil, 5k and 8k walk/run. More details here.
Some of the hardest tickets in town are to see the Davidson Wildcats and Stephen Curry, possibly the best player in
college basketball. Two 8:00 games have been added to their schedule as part of the pre-season NIT next Monday 11/24 and Tuesday night in their Belk Arena- get tickets here! They are the 2nd half of a double header each night.
Did you know… census data shows the #1 destination for folks living in Erie County New York is… Mecklenburg County. I admit it I, I’ve been listening to the Buffalo series on WFAE this week.
Things to Do With Children? If you haven’t visited, Imaginon is a great 1 hour - half day trip. Its great, free and has free parking- more details here
I’ll be posting on a limited basis this weekend, clients are in town from Atlanta.
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte? Considering a Move?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices, brokers and builders. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don’t miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Best Value in New Homes Charlotte Area Under 500K
Best Charlotte Waterfront Home Under $2M
Charlotte Real Estate- More Good Years Ahead
Wilkinson and Associates-us- We are a Preferred Real Estate Broker of Bank of America.
| Discussion: No Comments »
Friday in Charlotte| Ramblings on Charlotte News and Real Estate From the Week…
November 21st, 2008 categories: Charlotte Business, Charlotte News and Politics, Real Estate News
We are getting January type weather in November and I for one have had a enough of these 50 degree high days. Supposed to stay cool through the weekend…
The big local Charlotte news is that the state of North Carolina is asking the school systems for money back-
they are expecting severe year end shortfalls and are asking school systems to return some of their annual allotment. They are asking each school district to return $39/student, for CMS- over $5M. CMS Superintendent Peter Gorman is looking for non-teaching cuts. I’ve heard in the Washington DC area they are talking massive teacher layoffs to meet their larger budge shortfalls… and they’ll just go with larger classes.
Charlotte Country Day School- one of the area’s premier private schools announced that Mark Reed, assistant headmaster at St. John’s School in Houston, will take over as Charlotte Country Day’s head of school on July 1. Considered a rising star in private education circles, Reed will be the first African-American at the helm of a private school in Charlotte.
NC Treasurer Moore has called the Wells-Wachovia deal a bad deal for Wachovia stockholders and North Carolina, and is looking at ways to block it. Wachovia Chairman Bob Steel responded this week saying the Wells deal is “good for Wachovia, and was the best available.” What was the urgency that weekend to strike a deal? First it was Citi, then Wells later in the week? The FDIC told them they weren’t going to allow the doors of Wachovia banks to open that Monday without a deal. More. Well that explains the deal…
In other banking news, GMAC is said to be considering relocating their headquarters here (Ballantyne) to take advantage of some of the financial workers expected ot be available in the spring.
Fundraising for the UNCC (University of North Carolina Charlotte) Real Estate Center surpassed its goal of $4 Million raising 4.4M dollars for thenew Real Estate Center. UNCC is the 4th largest campus (of 17) in the North Carolina system and has over 22,000 undergraduates and 5000 graduate students. It is the largest University in the Charlotte area.
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National Notes…
A sign that the tide is turning? Septemeber home sales are UP 66% in Southern California over last September as median home prices fell to $300,000, 2003 prices, very affordable by west coast standards. Unbelievable? I thought so too, here is the link for the skeptical. from the WSJ.
Fannie and Freddie announced they were postponing foreclosure actions on 16000 homes until January 9th, as they review their eligibility for a new workout plan. Holiday relief for a few. The debate is raging about whether these should be made public companies or remain government entities- the NAR says keep them in government hands. Socialists!
Citibank’s stock price fell dramatically this week- why? They still own, and are liable for, a whole mess of “credit-default swaps”, this quasi-insurance type product Warren Buffet called a “weapon of mass financial destruction” in 2003. Essentially, companies paid a premium, say $100M to Citibank, and Citibank would guarantee ten billion dollars of the securitized mortgages. They worked just fine with rising house prices, easy $100M. Can anyone say, oops?
In Nevada, nearly 1/2 the homeowners owe more than their house is worth. Notice how many of the cities are California cities? This was the mess Wachovia bought into in 2006 with thir $24B purchase of “Golden” West- a huge writer of the pic-your-payment mortgage loan.
New home construction and new home permit requests fell to a 50 year low in September. This is good news for everyone NOT associated with the building industry… we need to STOP adding inventory. Apparently the Tresaury Department is considering a ban on new construction as well. From the WSJ.
Experts are debating but many believe that the economy can’t turn around until housing bottoms out. So should we stop building new?
Above My Pay Grade
These are the questions on my mind as I ponder the big picture…
Can the US remain a superpower without a US auto industry? If we were at war, can the Secretary of Defense call The chairman of Toyota and tell him we need more armored vehicles? In a hurry?
How do we get out of the mortgage mess- investors were sold these securitized products, guaranteeing their returns through the credit default swap. (I’m no expert here so if this isn’t right, speak up, glad to fix it) These “guarantees” can easily put the banking business, out of business, see AIG and more recently the damage to Citi shares. So far, all the support given, over 300 Billion dollars, it amounts to no more than filling 300 holes in the colander, with another 2000 still leaking cash. Until the underlying asset- the mortgage - is fixed, our financial system is in jeopardy. Would Secretary Paulson agree?
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte? Considering a Move?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices, brokers and builders. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don’t miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Best Value in New Homes Charlotte Area Under 500K
Best Charlotte Waterfront Home Under $2M
Charlotte Real Estate- More Good Years Ahead
Wilkinson and Associates-us- We are a Preferred Real Estate Broker of Bank of America.
| Discussion: No Comments »
A Mortgage Loan For Doctors- And Mortgage Money For All in Charlotte NC
November 20th, 2008 categories: Real Estate News, mortgages
A No Money Down Mortgage Loan For Doctors? In a word, Yes
and you don’t need to be Doctor to get a home loan in Charlotte: there is home mortgage money for your home purchase in Charlotte, NC.
Our strategic lending partner, Bank of America, has a program specifically designed for Doctors that reflects the bank’s commitment to our health providers and the stability of their profession. (Their jobs can NOT be out-sourced!) The no money down physician program is for primary residences- for Doctors relocating or moving to Charlotte, NC.
The devil is always in the details, but there is a lot to love in these details, and lots to love about Bank of America:
Up to 100% financing available
Loans Up to $1,000,000
No Private Mortgage Insurance
Fixed and adjustable rate mortgages available
Gift funds allowed for closing costs and reserves
Do not include student loans in DTI ratios- Debt to Income ratios- for qualifying
And remember, this is Not a loan offer, those only come from Bank Of America, once they have reviewed your credit and all terms you seek. I’m sure with no money down they require above average credit as well. But they like these loans and worked hard to put it together competitive rates.
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Doctor or not, there is money to lend in Charlotte, NC. I’ve spoken to several real estate agents in the past few days about lending issues… They agreed, we are getting loans done. There were few surprising turndowns- folks with 5% and trying to borrow BIG (1.5M) but most homes, most loans are still being done, just asking for a bit more down for the best terms. I asked my informed 25 year old son about buying- and he told me there wasn’t any money for mortgages in Raleigh… I think that too is misperception. Spread the word- there is money for houses in the Carolinas! So here are a few loans- loans for all:
3% FHA Loans - we can do this loan all day. Loan limit is $303,000, and may be reduced in the not too distant future. Our old DPA-Down payment Assistance Program- is out for now, may be revived. Average credit required.
VA- No money Down- to $417K Conforming Loans? Same $417K. Jumbo, still some at higher rates.
$7500 first Time Home Buyer Tax Credit- CREDIT- if you are thinking rent or buy, A $7500 REFUND on your taxes may tip the scale.
If you are considering a move or investing in Charlotte, deals have never been better or sweeter. Not in recent memory.
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte? Considering a Move?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices, brokers and builders. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don’t miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Best Value in New Homes Charlotte Area Under 500K
Best Charlotte Waterfront Home Under $2M
Charlotte Real Estate- More Good Years Ahead
Wilkinson and Associates-us- We are a Preferred Real Estate Broker of Bank of America.
| Discussion: No Comments »
Charlotte Area Schools- CMS, Union County, Links, Links and More Links!
November 20th, 2008 categories: About Charlotte, Charlotte Schools and Education
So you are thinking about moving to Charlotte, first question, “What about their schools?” Where can you go to compare schools within the greater Charlotte area- from Mooresville to Fort Mill schools, its all here.
After writing my first CMS school update on this blog a few days ago, I realized we needed some updated links and information for Charlotte area schools. Today’s post is not exhaustive, just the ones I work with every day. If I left your school system out, more will follow, promise.
We do schools differently in the Charlotte area -
different than the smaller school systems that predominate in the north, and different than many southern cities, where the school systems are small, many, and often still all but separate. For those of you who don’t know, my wife and I are education “hounds” (sounds better than snobs) and we raised 4 children here- 4 children who went to excellent private and public schools in Charlotte, all went on to college and/or grad school. My wife is a life-long educator and currently a professor of elementary education at a local college- we talk education in our house almost every day.
There are no simple answers to your school questions- each area and each sytem has their average, above average and below average schools- so it will require you doing a bit of research to find the best to fit for your family. But that is what my Charlotte Area school category (left hand column) is all about.
Charlotte-Mecklenburg Schools- CMS- also known as the “big”one, here are a few links to get you started- Wow- Did you Know? and some more details …Fast Facts Advanced Placement Programs Arts Education Student Achievement
The large number of links is just the larger webpage of a larger system. CMS also covers Matthews, Huntersville, Davidson and Cornelius. For more info, the CMS Home Page.
Union County Public Schools- our neighbor to the immediate south, Union County has been a popular “move up” location and “Move To” location- and a main reason is the quality of their schools, in particular the schools near the Charlotte border in towns like Weddington and Marvin. For Fast Facts try their UCPS Home Page Gifted Program and their notes from the Superintendent
Fort Mill, York County Public Schools- the Fort Mill home page, Fort Mill Strategic Plan, School Locator
Mooresville Public Schools- the Mooresville Graded School Homepage is for Announcements, Mooresville is a popular school district but their website is being re-done, and it isn’t that helpful at this time.
For more information and to compare schools- try the user friendly Great Schools and on North Carolina, once youwant to research a specific school, the incomparable NC Report Cards
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices and brokers. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don’t miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Best Value in New Homes Charlotte Area Under 500K
Best Charlotte Waterfront Home Under $2M
Charlotte Real Estate- More Good Years Ahead
| Discussion: No Comments »
