After watching the most recent real estate update by Steve Harney (a respected national real estate expert) there is some information that is important that the public understands. First we need to look at who is today's home buyer.  It is the first time home buyer and investors.  The volatile stock market and employment uncertainty has definitely affected the high-end market.

In our office, consisting of 96 agents that covers the entire Charlotte market, our average sales price to list price is up to 91%....it was staying around the 87% mark for several months but we are finally seeing this number creep back higher.  Our average days on market is now 130 days.....down from this time last year when it was 146 days. 

So what is causing this shift...

Part of the sales price to list price percentage increase is due to the higher buyer demand during the summer months...but mostly these numbers have changed because the home price index has gone up in the past 6 months...this is because the percentage of the national real estate market that is in foreclosure has dropped for 5 consecutive months.  The number of home owners who are 90+ days delinquent on their home loans is dropping...which means we will start to see less foreclosures hit the market in the next 6 months.

Foreclosures are selling at a 40% discount.

Short sales are selling at a 21% discount.

Until we get rid of the high number of distressed properties this real estate market will remain in a slump.

Nationwide there are still 14,000 real estate sales every single day.  The buyers are focusing on resales and distressed properties...not new construction...the best deals are not going to be new construction for a while.  Builders may not admit this but look at their inventory and you can tell that they know it is true.  They have sold their spec homes and are not building new inventory.

Real estate is still a great investment and from January 1st, 2000 to September 1st, 2011 its' return on investment was 6 times that of the Dow Jones.

Houses For Sale in Charlotte | Myers Park Homes | Myers Park School District

Houses for sale in the Myers Park School District get a lot of attention from home buyers in Charlotte, NC.  Myers Park is located just south of Charlotte's center city which allows for short commutes for those working Uptown.  Houses in the Myers Park school district stretch beyond the Myers Park neighborhood.  Throughout the real estate downturn, houses located within the Myers Park school district seem to have held their prices better because of the popularity of Myers Park High School. 

View a map of the Myers Park School District

Selling a home can be a stressful experience, and even more so when the home is the one you grew up in.

Today, Baby Boomers are increasingly finding themselves caught as the “sandwich generation” between elderly parents and children still living at home. The scenario becomes even more complex as aging parents become ill and must leave their homes of many years. Aside from the emotional issues of transitioning a parent to an assisted living facility or nursing home, there are legal, financial and logistical issues. If the parent does not have liquid assets that can be used to finance their care, the immediate sale of their home may be necessary.

State laws vary, but generally speaking, an individual must be mentally competent to execute a listing agreement to sell a home or to designate a financial power of attorney to allow someone else to do so. For these reasons, it is highly advisable for all adults with assets to have a will and a designated power of attorney to oversee their financial affairs if they suddenly become unable to do so. A financial power of attorney would allow a home to be sold immediately to help pay medical or facility expenses.

One of the most common frustrations when selling a home for an elderly parent is lack of information and resources. Do you have all legal documents and important papers? Is the home paid for, and if not, is the mortgage current? Is the insurance up-to-date? Where is the deed? What about the contents of the home? All of these items need to be addressed before a home can be sold.

As your Allen Tate Realtorâ, I can advise you about price, marketing and improvements needed to sell the home for a fair price in a reasonable time frame. I can also offer resources for estate sales, cleaning, repairs and staging. If your parents’ home is in another city not served by Allen Tate, I would be happy to refer you to a professional Realtor with one of our Leading Real Estate Companies of Worldä partners in that area. I would also recommend that you consult with an elder care attorney to advise you about legal matters and how the sale of your parents’ home can potentially affect financing of long-term care.

Getting Your House Ready To Sell Faster In Charlotte, NC

If you have a house for sale in Charlotte, NC then you know that there is a lot of competition and buyers are being very picky.  There are some things you can do to get your house ready to sell without going out and spending a lot of money.  You need to think about how a buyer will perceive your house when they view it for the first time.

Curb Appeal

Begin with the front of your house.  Make sure that you keep the yard cut, trimmed, and fresh flowers planted in outside planters or flowerbeds.  You want the buyer to pull into your driveway and be excited about seeing the inside of the house because they are already happy to see a pleasant exterior.

Clutter Free

De-clutter and depersonalize your house.  The average seller needs to remove 50% of their "stuff".  You may need to get a storage unit while your home is on the market.  Remove all family pictures from the house, religious items and political items.  Keep the house cleaned and blinds open...a fresh scent with soft music can never hurt.

Color

This one is easy but many sellers can't seem to get it.  Neutral colored houses sell!!!  You don't want to lose a buyer because they can't imagine living in your house that has green, blue, pink, or striped walls....and yes, most buyers do not want to have to paint a house as soon as they move in and you will lose offers or receive lower offers.  Paint your walls a soft baige and then bring splashes of color into your house with decorative accessories.

Fix Basic and Noticable Problem

Go ahead and repair all of the noticeable items in your house and any other basic repairs that the buyers are going to ask for after they perform their inspection.  You don't want to give the buyer the impression that the house has not been cared for or that it may have many other issues that should scare them from making an offer.

Don't just put your house on the market and hope that it sells.  There is a lot of competition in Charlotte and as agents we are having to market houses more than ever in order to receive showings. Take advantage of the showings that your house receives by doing some of the basics. 

3 Bedroom Townhouses in South Charlotte

Townhouses in south Charlotte are popular for those who want to live a maintenance free lifestyle and who want to have a short commute to Uptown Charlotte.  3 bedroom townhouses seem to fit the needs of most south Charlotte townhome buyers.  Garages are popular and so are communities with swimming pools.  Today's townhouse buyer wants the convenient drive to work, the community social atmosphere that the community pool offers, and the maintenance free living that is found in most townhouse complexes in south Charlotte.

Search the townhouses in south Charlotte and let me show you the lifestyle that the different townhome complexes offer. 

Every townhome complex in south Charlotte will have different home owners association regulations and dues. 

• Maintenance Free Living
• Short Commute to Uptown Charlotte
• South Charlotte Lifestyle
• Community Atmosphere

Search for Townhomes in South Charlotte

McCullough Homes | John Wieland Homes in Pineville, NC

McCullough, in Pineville NC, offers houses for those looking for a neighborhood with a real sense of community.  The homes in McCullough range from the high $200,000's to the $400,000's+ but it is what the neighborhood offers that is attracting home buyers.  (Townhomes will also be built in the subdivision ranging from the high $100,000's to the high $200,000's and will include fenced courtyards and 2 car garages).  There will be over 800 homes in the McCullough neighborhood when it is complete. 

Homes For Sale in McCullough    

McCullough's resort style amenities include:

• Walking trails (McCullough is being built on an old golf course and John Wieland has decided to use the cart paths as walking trails throughout the neighborhood...this mean miles of walking available)
• Club House, Pool, Tennis Courts, Fitness Center
• Yard maintenance (everything from mowing, seeding, straw, aerating...you will have no yard maintenance)
• Founders Park with a community pavilion and over 80 acres of green space

McCullough's Schools:

• Elementary School - Pineville
• Middle School - Quail Hollow
• High School - South Mecklenburg

HOMES IN McCULLOUGH

McCullough offers city convenience with the small town feel of Pineville.  McCullough will also offer homes with basements.  Anybody that has searched the Charlotte area for houses will know that basements are rare.

McCullough is in the city of Pineville, which means that the taxes are lower but you still have the ultimate south Charlotte location and the commute to Uptown Charlotte is quicker than in many other neighborhoods with Charlotte addresses.

Investing in Charlotte Real Estate

Many of my clients have had to take significant losses when they sold their previous homes but after they realized what they could afford to buy in their area of choice, they were wondering why they didn't cut their losses sooner.  A lot of sellers are scared to take a loss on their house, when in fact it makes financial sense for them to do so if they are planning to buy a more expensive house where they can regain the loss. 

• Interest rates are at all time lows, so you can sell your house at its current, higher, interest rate, get into the home of your dreams, and your monthly payment may not rise much...remember that interest rates control your monthly payment just as much, if not more than the list price.
• If you are an investor, this is a great time to be adding to your portfolio of rental properties.  There are a lot of renters in this market that do not have the credit to buy.  What better time to buy an investment property than at the bottom of the market (price-wise), all time low interest rates, and an increasing number of renters.
• Charlotte, NC will always be a popular place for the young workforce, retirees, and investors.  The amazing climate, educated workforce, an Uptown that is constantly growing, a diversified arts community, Charlotte's airport, and close location from the mountains and to the ocean will keep Charlotte on the top of many home buyers list of places to move. 

Charlotte, NC was recently ranked the #8th healthiest real estate markets in the country.  Charlotte never experienced the extreme bubble prices like many of the other cities.  Charlotte is expecting to add enough jobs to keep up with its' growth and will continue to be a popular city for home buyers and investors.

Homes For Sale in Charlotte

Is It Time For North Carolina Homes to Have More Standardized Energy Codes?

Going green is more popular than ever for North Carolina home buyers.  Home buyers realize that a greener house means a healthier living environment and lower energy costs.  Sometimes the upfront cost of a greener house is more than what the buyer can afford or more than their energy savings for 10+ years.

I think it's time that North Carolina adds more standardizes energy codes for home builders...just like the current home building codes.

Green homes are meant to lower the carbon footprint while making the house much more energy efficient.  Builders do this by adding the following to their new construction homes:

• Tank-less Water Heater                                                                            
• Spray Foam Insulation
• Sealed Crawl Space
• Geo-Thermal Heating System
• Triple Glazed Windows
• Super High Efficiency Heating Ventilation System

These products aren't cheap for the builders and the cost is handed down to the home buyer's purchase price.  If we are giving tax breaks to home owners who are upgrading their homes with greener products then we need to do the same to home buyers that are purchasing new "green certified" homes.  It would also be great to see mortgage lenders offer green building credits for those buyers that are willing to spend more for an energy efficient home. 

Buying a Home for the Lot?  Recycle the House!!!

Everybody has heard of builders, investors, and home buyers finding the perfect lot to build their new home but before they begin they must tear down the existing structure.  Now there is another option...Recycle the house.  Builders Of Hope have started a program where you can recycle your entire house.  They do not come in and tear down the structure, break it apart, and recycle the different materials.  Instead, they move the entire structure to a different location.

Currently, Builders of Hope are building communities throughout North Carolina in Charlotte, Raleigh, Fuguay-Varina, and Durham.  They get the recipient involved from the beginning of the process and once the house has been relocated, they work to make the structure more livable and more efficient.

This program is an innovative way to help the owners of the existing lot while also providing a home to a less fortunate family.