Showing posts with label Home Value. Show all posts
Showing posts with label Home Value. Show all posts

The Home Buying Process- Part 2

Buying a house in Charlotte can have plenty of snags that the inexperienced may find cumbersome. With the help of a trained Realtor, the home buying process can be as smooth as your new granite countertops :) Once you have found the home of your dreams and submited the offer to purchase, your nest steps are:

Photo courtesy of theraleighcafe.com


During the offer negotiations

  • Negotiate purchase price and other terms (other terms are VERY important; often just as important as the purchase price).
  • Terms other than price - Due Diligence Fee, Due Diligence Period, Earnest Money Fee, Seller-Paid Closing Costs, Settlement Date, etc.  (These will be explained in greater detail throughout process.
Days immediately following acceptance of offer:

  • Choose closing attorney of your choice (I can help you select, if needed).
  • Get structural/mechanical and wood destroying insect inspections (suggestions available). Other specialty inspections available: HVAC, septic, mold, etc.
  • Review inspection reports
  • Submit Due Diligence Request to sellers
  • Negotiate the DDR/what is to be repaired by Seller or negotiate repair credit
Photo courtesy of Home Inspection Charlotte  

The following weeks can often be the most trying. Home inspections, pest inspections and other unforeseen problems can pop up at any moment and change the entire course of the home buying process. Rest assured though, with the right Realtor everything can be worked out and you can sleep sound at night knowing that your Realtor is on top of things. Check back again to see what to expect over the coming weeks, if you have questions at this point feel free to contact me at sarah@sarahmartinhomes.com


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The Home Buying Process - Part 1

Buying a home in Charlotte, NC can often appear to be a daunting task. Luckily for you Charlotte, NC is a buyers market and there has never been a better time to buy a home. Foreclosures accounted for 51% of all homes sold in Charlotte for 2010, Bank of America and Wachovia are drowning in a backlog of homes they want off they're books and sellers are often more willing to negotiate because they know that competition in today's real estate market is tough.  If you're one of the lucky individuals in the position to buy a house right now, here's an idea of whats to come. 


Photo Courtesy of Loanpac.com


Questions to ask yourself before beginning the process

  • How much do you want to spend monthly?
  • How much cash do you have available for EMD/DD fees (upfront at time of offer), closing costs and for the down payment?
  • When would you like to move in to your new home?
  • What are the five characteristics you are looking for in your dream home?
  • What are the deal breakers for the house or location?
  • Have you spoken with a lender or been pre-approved?
Photo Courtesy of directory.ac

Once you have everything figured out
  • Find a Realtor that you connect with. Your Realtor is there to help you find your dream house and negotiate the best deal possible on your behalf. 
  • Get pre-qualification letter from lender of choice & have earnest money for 1% of purchase price in checking or savings. Also have check / money prepared for Due Diligence Fee. 
  • Be sure not to make any changes to your credit after you’ve been pre-approved. (Don’t buy a car, open a credit card, max out a card, close a credit line, etc.). Your credit may be pulled again a few days before closing and if there are changes, your loan could be changed or denied.
  • Get ready for the fun part, now you have to pick one! There is a wide selection of homes available to home buyers in Charlotte's real estate market so be prepared to see a lot!

Once you have found the perfect house and have the pre-qualification for your loan, you're ready to write the offer to purchase for the house. With the selection of homes in such abundance and competition between sellers so tough, the offer to purchase can often be thousands less than the advertised price and even include extra provisions with the purchase of the house. Check back for part two when we go into the details of whats to come.

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Charlotte is a Top Ten City for College Grads

Charlotte was recently named "One of the Top Ten Cities for College Grads" by Kiplinger. That's due in part to a recent survey issued by the National Association of Colleges and Employers that showed Charlotte employers are planning to hire approximately 19.3% more recent graduates this year.
The increase in open positions means Charlotte employer's will have about half as many applicants per job now than at the same time last year. North Carolina's real estate market has continued to grow in the downturn and is forcasted to be one of the fastest-growing real estate markets in the country with Charlotte leading the way.

With a population of 1.7 million and growing, Charlotte, NC is the second-largest banking center in the country, only to be outdone by New York City. Major corporations like US Airways, Wells Fargo and Bank of America are among the city's top employers. However, Charlotte has also seen substantial gains in other fields such as aviation, defense, bio-science and energy production.  In 2010, Charlotte saw the addition of 4,900 private-sector jobs and is set to gain even more in 2011. With an average starting salary of $66.886, the top-paying field of study for the graduating class of 2011 is chemical engineering. The accounting field comes in a close second but is set to offer the most projected job growth for this year with 7,244 new positions being created.

Most recently, Lowes announced its plans on hiring nearly 300 IT professionals in Mooresville, AptarGroup will be adding 150 positions in Lincolnton, and Babcock & Wilcox will be expanding its nuclear division and make Charlotte the headquarters of Generation mPower. Charlotte's vast appeal to many outsiders is due in part to low rents and living costs combined with an ever expanding real estate market. With the addition of the light-rail, sidewalks, greenway's and bike lanes, Charlotte neighborhoods like Dilworth, Elizabeth, Plaza-Midwood and NoDa are quickly becoming the most sought after neighborhoods in Charlotte.



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McAdenville Christmas adds Value to Charlotte

My hubby and I took Ellie to "Christmas Town USA", aka McAdenville, last night to view the spectacular lights and Christmas decor. McAdenville is just 30 minutes west of Charlotte and draws thousands of cars each year who pass through to check out the city of lights. It's been a tradition for FIFTY FOUR years!


We made two steaming mugs of hot chocolate, strapped Ellie in the back seat with several toys to keep her entertained for the two hours or so we planned on being in the car, and headed over to immerse ourselves in Christmas cheer. And boy, did it work! There were so many cars and so many gorgeous homes to see, we decided to walk the route to get a more up-close-and-personal view. It was a great time and Ellie loved looking at all the lights....she stared ahead in awe at all of the different colored lights and laughed often! It was like a giant version of all of her toys that light up and play music!


There were kids in school busses passing by singing carols and youngsters in cars shouting, "Merry Christmas" from car windows (or sunroofs! And no, the police officers guiding traffic didn't mind them hanging from the sunroofs. We were only going a few miles an hour). It was great to see a town keep up a tradition for so many years and still be a great success. McAdenville was founded in 1881 but still seems to be a bustling town; there is Saussy Burbank new construction on the Christmas route that proves living the "old town" lifestyle is still desirable by many folks. There are historic homes and brand-spanking new ones and ALL are decorated for the season. 


I'm so glad Charlotte has a sister town with such a festive event that we can share in. It literally was like a scene from a movie and I'm thankful we could be a part of it by driving only 30 minutes west. I encourage you to take your family or your honey out to McAdenville to help you enjoy the season even more. And check out the Saussy Burbank new construction Sales Office if you have to have a piece of the Christmas pie for yourself!


Click Here for Official Web Site


Happy Holidays!









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Charlotte Tops Another Housing List: Walkability

"Walkability" sounds like a test the pediatrician is going to ask your toddler to perform, yet it's just another housing list that Charlotte tops-once again. Hooray!


Charlotte is a walkable city according to a national study! This study shows that homes that are more walkable are worth more.
Here's a snippet from the study:
"More than just a pleasant amenity, the walkability of cities translates directly into increases in home values. Homes located in more walkable neighborhoods—those with a mix of common daily shopping and social destinations within a short distance—command a price premium over otherwise similar homes in less walkable areas. Houses with the above-average levels of walkability command a premium of about $4,000 to $34,000 over houses with just average levels of walkability in the typical metropolitan areas studied."


As a mom, being able to walk to the grocery, to work, the gym, the park, to shops is a great "plus". Mom & kids get to experience a little fresh air, get some exercise, and mingle with the neighbors. It brings about that American charm most homeowners are looking for these days. Whether you're in a downtown area or in a suburb, being able to walk to and fro from your fave spots draws positive attention. Don't you "ooo and ahh" when you drive through a neighborhood that has sidewalks? Or feel proud of your fellow citizens when you see them hoofing it from home in their suits, paired with sneakers, of course, walking briskly towards the office? Being able to walk to your errands means fewer lifts of the blasted car seat in and out of the back seat (which cannot be good for our backs), shedding a few extra pounds, and getting to know your neighbors.


Top Charlotte Neighborhoods with the Walkability Factor:
  • Dilworth
  • NoDa
  • Eastover
  • Plaza-Midwood
  • South End
  • Elizabeth
  • Chantilly
  • Uptown
  • Commonwealth


Other cities that topped the Study:
  • Dallas
  • Chicago
  • Washington, DC
  • San Francisco
  • Seattle
  • Austin
Click Here for the Full Report






Happy Walking, Charlotte!
 






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