Charlotte, NC, Terry's Blog

Charlotte Real Estate Changes: 5 Dead Assumptions

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sat, 12 Dec 2009 08:30:43 -0600

Charlotte, NC

How Charlotte Real Estate Has Changed, Your City Too?

5 Dead Assumptions in 2010

"Everything's changing, Everything has already changed," said the character of General Cornwallis, at the end of the popular movie The Patriot, as he surrendered his forces facing annihilation at the hands of the Colonials under George Washington, the French Navy and according to the movie, Mel Gibson's band of "merry" Carolina militia...

And he was right. The Battle of Yorktown ended the decade long Revolutionary war, evicted the British from American soil, and provided the example that would eventually lead colonial people around the globe to end the British Empire over the next 2 centuries.

The changes in the real estate world brought about by the Great Recession of 2008-9 won't have the political effect of Yorktown, but to real estate professionals, and those who buy or sell real estate, the changes are real, profound and will be felt around the world.

What's changed say you? Real estate is still REAL, and some people want to buy and others want to sell. True enough, but real estate has changed because the underlying assumptions have changed, changing the way consumers think about "real estate," if not forever, then for a generation at least.

This began as a reflection of my own Charlotte real estate business in 2009, and what it means for 2010. If you follow Case-Shiller and the national press you know that Charlotte has done better than most cities in the US in this recession and real estate depression. Yet the business changed here profoundly. I can only imagine how it is in the hardest hit states.

While many of these were unstated assumptions, I've bought 5 houses in my lifetime, and every assumption below had some affect on one or more of those decisions.I have listened to local and out of state Buyers and Sellers this past year here in Charlotte. I don't think I am alone, I think the views from 2009 will become, or ARE Already, the prevailing views, the first being so straight forward it needs little explanation.

Five Dead Real Estate Assumptions

1. Most real estate prices rise... when is the next time a financial adviser or TV pundit is likely to make that argument? How about you? I've rarely said this as a broker, but it was implied every day for as long as I can remember.

2."I can buy it, live in it for a few years, and trade up." The first home -buyer assumption. Always somewhat flawed, it was a major assumption to the first home-buyer. How many of us did exactly that? Get started small, and buy bigger the next time? "House values go up faster than we can save," I told my wife many years ago as we looked to buy our first home. Home buyer time horizons have changed. The new time horizon will be 5 years, as it has becomes evident that real estate is, at best, a long term investment. There's an interesting word: investment

3. Is real estate still an "investment" or have speculators ruined that too? An investment pre-supposes #1 above, rising prices. Every "rent vs buy" calculation includes appreciation. Every discussion of real estate and financing includes a discussion of the power of leverage, I don't remember ever discussing the down side of leverage, do you?

4. "If I make a mistake, no big deal, I'll just take my lumps and move on." If a seller writes a check at closing, or sells from a position where his initial investment is not recouped, what is the effect on that seller's outlook next time they are looking for a house? A Doctor's wife from New Jersey, right after dropping their Asking price another $60,000 on their home, summed it up when she said she and her husband asked themselves, "Aren't we doing the same (buying in Charlotte) again? Are we stupid?" I think you should be prepared for that question.

Do you have homes in your market that may never sell? We do. My wife's cousin, a Pastor who lived in manse all his life, bought a nice home in central Pennsylvania a few years back, it was his first home at age 60. He lived there for 5 years, retired, and it has been on the market for 2+ years now, there are no new jobs there, who is going to buy it?

5. Premiums aren't so premium any more, and Small flaws are BIG. Premiums and flaws in a house are the flip side of the same coin. There will remain a premium for waterfront, and a few other cases, but in the main an over supply of houses and fear, means that premiums for school districts, lots, neighborhoods, are deeply diminished by overall market declines, and what we formerly thought of as minor flaws have been magnified, creating more hardship. Why? Fear of making a bad choice is keeping many folks away from a minor flaw, and, same reasoning, the number of "perfect" houses available. The question, "Will it be a problem when it comes time to re-selling it?" looms larger than ever before.

Working with these new assumptions will be difficult, and we'll be all trying to answer these questions for ourselves, our market and for our clients- as they struggle to answer the questions too. What was my answer to the Doctor's wife mentioned above? Who now owns a home in suburban Charlotte? That will be in my next post, "How to Buy a Home in 2010 in Charlotte NC, Wisely." Love to get your thoughts on that too.

It is a New World, let's figure it out together.

Terry McDonald

704-351-1519

The McDonald Team, Wilkinson and Associates, Broker
Relocation, Distressed Properties, First Homes, Luxury Homes
http://www.TerryMcDonaldRealEstate.com
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Charlotte's #1 Video on You Tube- Introduction to Charlotte

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

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Follow Me On Twitter at @TerryMcDonaldRE

Charlotte Condominiums: Uptown Condos for Under $250,000

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Fri, 11 Dec 2009 06:50:28 -0600

Thanks for stoppiuCharlotte, NC

Uptown Charlotte Condominiums Under 250K, A Market Report

So how much condo, or townhouse does $250,000 buy in Uptown Charlotte?

Where should you live? Anyone working or renting in Uptown, knows the entire city is within walking distance... From the Blumenthal to Bank of America -Panther's Stadium, one side of town to the other, is about a 20 minute walk. From lower First Ward to Johnston and Wales? About 25 minutes.

What about the blue chip condos, The Avenue, Fifth and Poplar, can you get into any of these for $250,000? In a word Yes-

There are currently 125 Uptown Charlotte Condos for sale under $250,000 ($250K)

There are 73 one bedroom condos, 49 two bedroom condos, and (3) 3 bedroom condos for sale in Uptown for under $250,000.

What makes a "blue chip" condominium? They are consistent sellers, even in a down market. Location PLUS Amenities, make these the crowd favorites.

The Avenue has 7 Condos for Sale for under 250,000, the low is $204,900, the high $249,900. The Avenue reported 11 sales under $250K in the past 6 months, from $218 to $320/sf- a 1 br with a killer view on the 25th floor.

Fifth and Poplar has17 condos for sale for under $250,000, including 5 2-bedroom units. Fifth and Poplar had 8 sales under $250K in the last 6 months, from $183/sf to $283 per sf.

Thanks for stopping by.

Terry McDonald

704-351-1519

The McDonald Team
Wilkinson and Associates, Broker

Top Team 2006, Top 10 2007, Top Agent 2008
LinkedIn: www.linkedin.com/in/terrymcdonald57
http://www.TerryMcDonaldRealEstate.com
http://www.CharlotteCommunitiesOnline.com
Follow me on Twitter @TerryMcDonaldRE

Charlotte's #1 Video on You Tube- Introduction to Charlotte

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Weddington Waxhaw Real Estate Market Snapshot October

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Mon, 30 Nov 2009 06:01:25 -0600

Charlotte NC

Union County Real Estate Market Report- October 1-October 31,2009

Waxhaw, NC Homes for Sale- Homes Sold

There were 51 Homes sold in Waxhaw, at an average price of $395,148, on an average 3639 sf, or an average of $108/sf at a reported average of 98 Days on Market. In 2008, there were 38 home sales, at an average of $366,874, at an average sf of3373, at not quite $109/sf. So the market is holding steady '08 to '09.

Waxhaw Homes for Sale

At the end of October there were 572 homes for sale in Waxhaw. The average monthly Waxhaw home sales is 57 (Since June) which equates to about a rought 10 month supply of homes. certainly a strong buyers market, but not grotesque!

Weddington Homes For Sale

There were 7 homes sold in Weddington, at an average price of $713,214 on 5,118 sf, or an average of $139.00/sf, at a reported average of 187 Days on market. In 2008, there were 6 Weddington homes sold, at an average of $574,221, on 3,964 square feet, or $144/sf, and a reported Days on market of 94.

For the Full report and to see how home sales were affected by First Home Buyer Credit at Waxhaw Real Estate

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Terry McDonald

704-351-1519

The McDonald Team
Wilkinson and Associates, Broker

Charlotte's #1 Video on You Tube- Introduction to Charlotte

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Compare Your Cost of Living To Charlotte NC

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 29 Nov 2009 19:11:25 -0600

Charlotte The Affordable City- Cost Of Living Comparisons

Charlotte remains a popular move to city- a growing economy is producing more jobs, physicians love it here, retirees and the over 55 set are a growing factors, as are young people moving into Uptown condos... and they all are asking themselves the same question-- "if I make X, how far would my dollar go in Charlotte? What increase in my families standard of living could I expect?" I found this great calculator comes from Bankrate.com, their link is below...

So you are making $250,000 in the New York City area, your job is portable, or you are retiring, and you are thinking of moving to Charlotte NC...

How much more disposable income would you have? How much better lifestyle would you have in Charlotte?

The Calcualtor is detailed. Compare everything from housing to car insurance, the cost of lunch to a haircut. Boston, DC, Chicago, Seattle and 6 more cities...

Full story at Charlotte Cost of Living

Terry McDonald

704-351-1519

The McDonald Team
Wilkinson and Associates, Broker

Charlotte's #1 Video on You Tube- Introduction to Charlotte

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte Home Sales Rise, Devil in Details

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sat, 14 Nov 2009 21:22:12 -0600

Charlotte Homes Sold (Single Family Homes) Rose 12.5% in October

As dramatic as this is, it isn't the 20% reported by the Charlotte Observer, which included townhouses and condos, and appears to include the much wider CMLS area. (Odd, I would have thought those additions would lower their numbers.)

I pull my stats from the same Carolina MLS, but I limit it to the 9 counties closest to Charlotte, see those details below. My figures show average home prices falling 8.4% from October 2008 to October 2009.

I've already reported regionally on October's home sold numbers here at Weddington-Waxhaw Homes Sold and at South Charlotte Homes Sold I'll look at Lake Norman and other areas next week.

Lets dig in and look at the First Home buyer and Luxury Home market, compare it with the Total Market.

Charlotte Homes Sold Under $250,000

In 2008, there were 1221 homes sold, and in 2009, 1450 homes sold, representing an 18.75% increase, 50% higher than the total market increase, reflecting first home buyer tax credits perhaps? Interestingly home prices fell only 1.36% in this market, to an average $76.68per sf

Charlotte Homes Sold Over $500,000, the custom luxury home market

In 2008, there were 117 Charlotte homes sold over $500,000, and in 2009, it was 115, representing a 1.71% decrease in sales, or 118% Worse than the market average reported above. Home prices in the Over $500K category fell 16% year over year to an average square foot cost of $160/sf in 2009.

The 115 Homes sold over $500K in October is 33% less than sold in October 2007, and 45% less than the peak year of 2006- not coincedental are reports that 2006 was the peak year nationally for "junk" loans.

So, while Charlotte October home sales in the "first home" category Under $250,000 have done very well, the luxury home market, over $500K, remains almost in a train wreck.

Charlotte's Over $1M Market-Bubblisicous

Charlotte Homes Sold Over $1M- A Market Report

Matthews Homes Sold- a Real Estate Market Report

All data is derived from the Carolina MLS, but all figures reported are mine. The Stats come from the following counties and areas within the CMLS: Mecklenburg, Union, Cabarrus, Stanley, Iredell, Catawba, Gaston, Lincoln, the top half of York, and all the MLS areas of Lake Wylie, Lake Norman, and Mt Island Lake.

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Smart buyer's with good information, and a good Buyer agent, Make GREAT deals happen! Call me today, 704-351-1519 to get you started, or signup in our Search for Charlotte Homes- don't worry, no one will bother you and no spam, guaranteed.

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Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

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South Charlotte Luxury TownHome- Price to Sell

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Wed, 11 Nov 2009 08:31:57 -0600

South Charlotte Custom Condominium Townhouse for Sale

If Golf's your thing... or Convenience-walk to major shopping areas, or neighborhoods, or you like fine things... then maybe...

7908 Greenview Terrace is for You!

Lets Have a look

The details? It has two large bedrooms, a den, and an open loft/office area, all finished to a very high quality level-10' ceilings down, crown moldings everywhere, 1st floor hardwoods, plantation shutters it is very lightly lived-in, and all the finishes you'd expect, all in walking distance to the Arboretum.

The mark downs have been taken, owner says sell, and the price is reduced to $324,900

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A smart buyer, good information and a good Buyer Agent Make GREAT deals happen!

Call us today, 704-351-1519, or use the link below.

Search Charlotte Real Estate

Avoiding Sand Traps and Land mines in Your First Charlotte Home

How to Buy Smart in This Market

Fort Mill Real Estate and Foreclosures

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Waxhaw-Weddington NC Homes For Sale- Homes Sold October Report

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Wed, 11 Nov 2009 08:13:41 -0600

Charlotte NC

Union County Real Estate Market Report- October 1-October 31,2009

Waxhaw, NC Homes for Sale- Homes Sold

Waxhaw Homes for Sale

Weddington Homes For Sale

There were 122 Weddington Homes for Sale as of 10/31/2009. The average monthly sales- based on monthly sales since June, is 6.6, reflecting an 18 month supply of homes- bascially a buyers dream.

What accounts for this turn around--for decades Weddington led the way, now there is a strong bias in favor of Waxhaw, why?

The main artery to Weddington is Providence Road, and the expansion is nearing completion, but for the last 3 years Weddington has been nearly inaccessible.

First Home Buyers Tax Credits Affects Union County Homes For Sale Under $200,000

In the areas of 10-1, 10-2 and 10-3- the Weddington-Waxhaw-Marvin-Wesley Chapel area, there were a total of 131 homes sold.

Assuming a "First home balance"* sales price of $230,000- , there were 58 first home buyers in 2009, or 44% of the market. This compares with 34 home sales a year earlier, suggesting a dominant role in first home buyers in 2009- the tax credits at work .

*First Home Balance" sales price is an assumption based on the reality that there is no way to determine in real time who is a first time home buyer- but we know it is some percentage of our market. The "balance" works this way: take a home sales price number and assume that the number of homes sold, that were Not first home buyers, is offset by the people Above the sales price who WERE first home buyers. So when we "balance" the price at $230,000 for statistical analysis, we aren't saying all first home buyers bought below $230,0000 but that this quantity of sales is the balanced number we will uses to compare year to year, in this geographic area.

South Charlotte -October Market Snapshot

Charlotte NC Homes- Bubbilicious-The Over $1M Market

Charlotte Home Prices Passed Bottom and Trending UP

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Learn more about the McDonald Team

Search for Charlotte Homes- Charlotte Townhomes and Condos

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

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Follow Me On Twitter at @TerryMcDonaldRE

SHOW ME THE MONEY!!! First Home Buyer With Check for $8,000

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Wed, 11 Nov 2009 07:16:05 -0600

Charlotte First Home Buyers Say Show ME The MONEY!

But Time Is Running Out! WAIT- not any more, First home buyer tax credits are extended!!!

--and as you can see they are REAL MONEY! Special thanks to client and first time Charlotte home buyer Liana M- happily living in her Ballantyne area townhome. ::::::::::::::::::::::::::::::::

First Home buyers- The McDonald Team offers a $500 Gift card to (your choice) Ikea, Pottery Barn, Crate and Barrel or Lowe's, but you must give us a call first-704-351-1519- we'll often get the right agent on the phone right then... new home or re-sale, and get you started.

Avoiding Sand Traps and Land Mines-Why Buyer Agency Makes Sense

Buying Your First Home? Learn more about the McDonald Team and First Home Buyers.

Charlotte Home Prices Passed Bottom and Trending UP

Search for Charlotte Homes, Townhomes and Condos (First)

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

First Home Buyer Tax Credits Extended: "Move Up" Home Buyer Tax Credit Created!

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 08 Nov 2009 20:10:32 -0600

First Home Buyer Tax Credit Extended, Move Up Buyers Get New Tax Credit

It is official. President Obama signed the bill Friday. The bill extends the existing first home buyer credit-And established a new tax credit for up to $6500 for qualifying "Move Up" buyers, and increases the income limits to qualify... welcome changes and a shot in the arm for home Buyers and Sellers The bill extends the current $8,000 first time homebuyer tax credit (which was due to expire at the end of November) through April, 2010-however this is a "contracted by" date and you must close by July 1, 2010. It also includes a tax credit of up to $6,500 for qualified move up buyers- you must have used the home as your primary residence for 5 of the last 8 years- and increases the borrower income limits for both credits to $125,000 for individuals and $225,000 for couples. Home buyers will qualify for the full credit as long as they have entered a binding contract by April 30, 2010 and they close the transaction by June 30, 2010. The tax credit is limited to homes with a purchase price of $800,000 and below. More details as we learn them but this is more that we had last February... lets go buy a home!!! ----------------------------------------------

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Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

A Charlotte Bubble- The Craziness in Our Over $1M Market

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 08 Nov 2009 20:04:31 -0600

How Did The Over $1M Market Get So Messed Up?

We know there is a lot of inventory- 54 months according to my last post based on the first 9 months sales of this year... an almost 5 year supply of homes. Does the word sub-prime, or Pick-A-Pay mean anything to you? Or my preferred term, Junk Financing? Looking back, way back all the way to 2001, I charted the growth of the Over$1M market in the Carolina MLS. It is important to note, the slow but steady growth from 2001-2003, and then the sharp rise in 2004-61%, or an additional 82 homes. Thes 82 new 1M homeowners represent 24% of all the over $1m homes sold in 2001-2003. So what happened in Charlotte to account for this massive influx of new money - 82 homes to be precise... Did we bring a corporate headquarters here that year of significance? A NFL franchise perhaps? What would account for not just the 133 home sales of 2003, but another 83 or215 in 2004? What if I told you that Over $1M home sales jumped another 50% in 2005, and another 35% in 2006? Check out the chart, and see if you can answer that question we heard so often: "Where were all these people coming from who can afford these Million dollar homes?" In the peak year, 2007, 477 over $1M homes were sold. That is the equivalent of all the homes sold in 2001, plus 2002,2003, and most of 2004. Whaaat? Those of us who lived here know there is no explanation for this kind of increase in demand. Job growth was good from 2001-2203, and from 2004-2008 and that produced healthy increase in demand for housing, but not this good.

This is about greed, our insatiable desire to have everything NOW, and junk loans. Junk loans that created a false demand, or a bubble, and now, as many of these mortgage reset, are going to produce foreclosures at record levels in the next 3 years.

Since the junk loans are no longer available, and most of those loans reset in 3-5 years, demand is quickly falling to pre-junk levels, and foreclosures will mount as sales won't break 200 in 2009. And in 2010? I'm predicting about 150, and inventory still at 5 year levels. It is going to get worse before it gets better.tm

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Is it safe to buy a home here in Charlotte? Yes- with conditions. Buy for the long term, buy in a blue chip neighborhood, and buy it cheap- We can help. We help with home finding, we do the research, and we take your lead in the negotiations.. 704-351-1519 Custom Homes in Stonecroft- Southpark area Over $1M Homes Sales Market Report

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte Is the Biggest Loser, Raleigh Close 2nd in Hunt For Stimulus Funds

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sat, 07 Nov 2009 16:28:15 -0600

Charlotte NC

The Stimulus Plan and Charlotte- State Politics at Work Again AS Charlotte Receives $34.09 PP, Lenoir County $744 PP

Everyone is familiar with the national brouhaha behind The Economic Recovery Act, aka the stimulus plan... Is it possible that, at the State level, the funds could have been politically hijacked, and sent to primarily rural political strongholds in the state? It is possible that the rural interests gain once again at the expense of the cities that pay the state's bills?

The Stimulus invested $563,065, 282 in North Carolina, and of that $512,689,234 is "Under Contract", or allocated presumably with "shovel-ready " projects and contractors from around the state. Much of this data comes from ProPublica*

How was it decided who would get what?

North Carolina, 10th largest state in the nation, was treated fairly by the Federal Government. It has received the 9th largest State Stimulus Check at $563,065,282.

Where have the Federal Stimulus funds been allocated in North Carolina?

Since the Charlotte area is, by far, the largest county by population in NC , the largest contributor to state GDP, it is logical to assume we are receiving the largest amount for stimulus funding, right? No, not exactly. Surely it is Raleigh? No, not Raleigh either.RDU? Guess again...

Congressional District 5, Virgina Foxx (R) andSenarotr Burr's former District... Have a look for your self: The rest of the story- spending by Congressional District, and County Charlotte NC Stimulus

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Terry McDonald

704-351-1519

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First Home Buyer Tax Credits Extended:5 Keys to Buying Your First Home Wisely

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sat, 07 Nov 2009 16:17:40 -0600

Charlotte NC

It's a new game with tax credits on until April 30, 2010!!!

"The $8,000 Tax Credit Looks Good, But how do I make a good decision when buying a home in today's market?" A recent Charlotte home buyer asked me... and made me think.

If you listened to the talking heads on TV, you would be convinced that the world as we know it is about to come to an end. Well no. We are still working here in Charlotte, going to work, selling homes, like about 2/3's of the rest of the country that have not experienced big price declines.

Still, in this market, there is a premium on Buying Smart. If you are thinking that is much more than "Buying Low" you are right!

5 Keys to Home Buying Success in Today's Market

1. Buy for the long term and plan to stay a minimum of 3 years, preferably 5-7 years. The longer you stay, the lower the risk in your investment. You get tax savings every year, and it just makes sense you have more time to let your home appreciate, and appreciation WILL be back in Charlotte before too long.

2. Buy a home in a community with a "Value- Anchor." What is a Value-Anchor? Anything that sets a particular set of homes apart to a large number of potential purchasers. Some examples include: The area it self, in Charlotte Myers Park, Southpark, these names have cache... not coincidentally they are closer to uptown. Waterfront, waterview, golf course, these are all homes that have attracted, and will attract a particular set of buyers.

The communities above are higher priced- you are starting out, maybe you can't afford these, then look for other value anchors, for example: communities with great natural beauty, communities with loads of amenities, communities with great schools (though this can change over 10 years) still look for a value anchor in every house or community. Close to town works almost anywhere. Other community anchors might be high quality amenities, larger lots (than the neighors) , great parks or greenways nearby, unusually convenient neighborhood, etc. There are too many to list, but I always ask, what is the value anchor, or value proposition for this home and community?

3. Buy Quality over quantity-Smaller, well cared for home with custom features are more and more preferred to a big plain box, and the dramatic shift in the last year is towards smaller homes. At any price point, look for the home with the most features, with attention to the feature that last.

4. Don't over buy, and finance with incredibly low 30 year Fixed which won't last forever. Current rates are around r 5%, and what a difference that makes. I bought my first home when interest rates were 11%! I made 45K per year and qualified for an $85,000 home- today, the same $45K could buy a home, with a 5% loan, at $175,000, with similar $1,000/mo payments to my first 11% loan. (Depending on down payment, taxes , HOA fees etc)

5. Shop for the right community, the right deal, and then the particular house- in that order, to insure you are most likely to be happy with your purchase and stay. You can make changes to the house to make it more to your liking, but if it is in a great community you want to live in, and you got it at a great price, that is something you can build on.

Do be sure and claim the $8000 Federal Tax Credit if you purchase by --November 30, 2009, April 30, 2010--it is FREE money.

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Remember, to qualify for the $500 Gift card, give us a call first-704-351-1519- we'll often get the right agent on the phone right then... and get you started. Sign up here for your Fast Start Guide to Buying Your First Home Why You Need A Buyer Agent- Sand Traps and Land Mines to Avoid When Buying Your First home Learn more about the McDonald Team and First Home Buyers.

Charlotte Home Prices Passed Bottom and Trending UP

Search for Charlotte Homes, Townhomes and Condos (First)

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

What Out Performs a Blog? A Video That Ranks for Your Keywords

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 29 Mar 2009 11:58:27 -0500

In Search of Perfect "Advertising"- A Compelling Medium that Makes the Phone Ring With People Who Know Why They are Calling...

've looked for that perfect medium for 20 years. I've blogged for the past 18 months with substantial business (if not literary) success, and before that I ran large pay per click campaigns to generate web traffic and business. For the past three years, I've been the top revenue producing agent in our 800+ Agent firm in 2 of the three years, a Top Ten team in the out year, largely because of Internet traffic and families relocating to Charlotte NC.

But nothing, Nothing works like my Introduction to Charlotte video, that now ranks 3rd on Google for the mega keyword (4M hits) Charlotte NC...

A little background. I wrote this video in the fall of 2007 to answer what I saw was THE major question people had about Charlotte- "What kind of city is Charlotte?" I tried to answer this question every day, I found people didn't understand our city at all- there were those with no knowledge, we do fly quite a bit under the radar, and then there were the stereotypes to deal with, such as "Is Charlotte more like Andy of Mayberry... or Cannonball Run?" one caller asked only half-joking.

There was a second purpose too- the Internet has been excellent in producing quality clients with e-mail and sometimes phone contacts, but has never produced a lot of phone calls. As most of us know, the phone in lead is almost always a more urgent buyer, more of a "now" buyer, the one we are all looking for. So I asked, why don't more of these buyers who mark "Immediate" in their desire to move, why don't they call?

My thinkg was the biggest reason is fear of the unknown, fear of what they might get on the other end of the phone line. We've all experienced bad salesman of some kind, and many consumers are just afraid to call...fewer than one call in 10 has that nifty feature that "Block" s their phone number.

Charlotte has a good story, so my hope was that if I could share a lot about Charlotte, and a little about myself, I could break down those fears about Charlotte and introduce myself along the way. This video has succeed beyond my wildest imaginings...

So, the answer to that compelling question asked in the subtitle- the answer is a quality video, that sells your "product" AND You- and one that will be found, which is where You Tube and Google come in.

Introduction to Charlotte began its climb on You Tube. The popularity of the city, and the keywords in the Title and Description, helped its SEO value. Comments have something to do with it, and we were the beneficiary of a large if not 100% approval. However beyond that, there were no "optimizing efforts." I became aware of the rankings just after the first of the year as our phone began to ring at unprecedented levels ... after the 3rd day, I went online and just searched some keywords, and was excited by what I found. On You Tube my video has been #1 for Charlotte NC searches since October of 2008, and hit #1 for Charlotte NC Real Estate and Charlotte real estate in February. You Tube has become a search engine all its own.

But by a formula and reasons known only to Google, besides its prominent spot for Charlotte NC, it is #12 for Charlotte NC Real Estate, and #15 for Charlotte real estate, the 2nd and 3rd most searched keywords, and is moving up in these two important keywords.

A prospect called Friday, one without a home to sell (they will rent their California home) and one that has researched schools here, and opened a branch office here, and began their search for an Agent online where she saw the video, and she commented on something I said that she could relate to.The phone call came in with a "BLOCK" but she happily gave me her number after our conversation. They are coming to look for homes April 10, and are now buyers, the latest in a string that I am happy to report are impervious to the recession.

After a lifetime searching, I think I've found that "perfect" source of knowledgeable phone callers...

Please have a look at the video- I appreciate your sincere 5 star rating and real estate related comments.

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

When is the Best Time to Have a Low (20% or more) Offer Accepted on a REO?

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Thu, 12 Mar 2009 09:28:56 -0500

If the bank listed the home at the BPO price, When is the bank most likely to begin accepting that lower price (80% of List) offer?

Deciphering bank motivation... I know I know, it may somewhere between astrology and palm reading, but here goes...

Here in Charlotte, where home values (though more recently declining) have remained relatively strong, it has to be on the market quite some time before they are willing to take that size (20% or so) of a discount. Conversely, in parts of California, I am told they accept substantial discounts within days of listing, why would that be?

What are the variables to consider? And while each bank/REO will be unique, are there any good rules of the road? Or at least a "Rule of Thumb?"?

I think the #1 determinant has to be: What is the likelihood of price declines in the next year?

The higher that likelihood, the sooner a bank would want to say "Let's Make a Deal." Interestingly enough, there are a number of companies that provide this information, the most widely used public (banks have proprietary date too) is from PMI, Private Mortgage Insurance which publishes those "likelihood of Price Declines" for over 350 markets in the US every quarter, and they use it to rate their proprietary private mortgage insurance.

The 120 Day Rule

One thing appears to be consistent here in Charlotte, banks and intermediaries get very nervous once on the market 120 Days. We have seen banks turn down offers of 90% of list in the first few months, only to accept 75-80% of list in month 5. We've seen a bit more flexibility early in the sale process on the less expensive REO's- could that be because even a 15% discount on a house priced at $125K is not a lot of cash comparatively speaking? Or perhaps a recognition that there are a LOT more REO homes priced in this price range and so getting an offer and getting it off the market is paramount?

One thing is for sure, if it lasts 120 days, the Sellers call us and say SELL IT, Bring us an Offer, and they mean it.

I am sure these are two of the external, local market factors Banks consider, but there largest motivation may be their own balance sheet, or their next meeting with regulatory (FDIC) agencies, how close they are to their required reserves, etc, and with these we would not have any idea of their motivation.... except watching now as the end of the first quarter is fast approaching... will that make a difference?

I would appreciate other agents from around the country to comment, possibly any asset managers, or others with REO experience. watching?

Thanks to all

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See my Introduction to Charlotte Real Estate or visit my personal website Search for Charlotte Homes

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte NC and Charlotte Real Estate- An Introduction to the Queen City

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 15 Feb 2009 20:22:17 -0600

A new page at Charlotte Communnities is perfect for that person who just found out they were being transferred to Charlotte NC, or perhaps they've hearcd about Charlotte.

If that's you , then you'll want to

Vist this Charlotte NC page-

it will take you from an overview of Charlotte, to a look at specific areas and neighborhoods, in two short videos.

Then of you'll go to the category of choice, Charlotte Schools, Things To Do in Charlotte, Over 55 Active Adult-All from the left hand column at Charlotte Communities.

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Charlotte remains a desirable city to move to, Charlotte real estate is eminently affordable, and when combined with historic low interest rates makes buying a home in Charlotte a smart buy, as long as you buy a home for the long term, and buy it smartly.

Moving to the Charlotte Area? South Charlotte, Waxhaw, Lake Norman, Fort Mill Perhaps? Your first Charlotte home?

I am a Charlotte real estate broker specializing in relocations, 2nd homes and first time home buyers--buying and selling real estate of all kinds- and will represent only you. My team works with Buyers and Sellers every day from Ballantyne to Lake Norman -and Fort Mill SC too. We work with all relocation companies. My team and I know the homes, the communities, and the new home builders. We know what's hot, what's not, and where the deals are. I represented Buyers in the largest foreclosure sale in Charlotte in 2008. And I helped a handful of first time home buyers. I was the Top Agent in 2008 in our 800 + Agent firm, and won an award for customer satisfaction in 2008. We are flexible and at your service.

We are working to help you "buy smart" in Charlotte, and to make your relocation easier and less stressful.

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

Charlotte NC CharlotteCommunities Charlotte Real Estate Charlotte Luxury Home s

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

TerryMcDonaldRealEstate.com Gets New Pages

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 15 Feb 2009 15:42:27 -0600

TerryMcDonaldRealEstate.com, the McDonald Team at Wilkinson and Associates, has a newly expanded website, with many upgrades to its pages.Some of the long awaited re-writes are here:

the best Charlotte Luxury Homes Page, includes a beautiful slide show of Charlotte luxury custom homes from Southpark to lake Norman

A growing Charlotte New Homes Page- more communitis, more deals!

My growing team- the McDonald Team, Real Estate Agents in Charlotte

An updated Charlotte Mortgage information page- perfect for first time home buyers, all basic terms explained.

TerryMcDonaldReal Estate.com is the companion site of CharlotteCommunities the site for folks relocating to Charlotte NC.

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Moving to the Charlotte Area? South Charlotte, Waxhaw, Lake Norman, Fort Mill Perhaps? Your first Charlotte home?

We are working to help you "buy smart" in Charlotte, and to make your relocation easier and less stressful.

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

Charlotte NC CharlotteCommunities

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte Home Buyers Liking What They See...

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sat, 31 Jan 2009 12:08:47 -0600

Yes its bad out there. It is hard to turn on the TV news and not see something Bad about Housing.

Our market hovers between 50 and 65% of 2007 volume, but that means we have a similar sales volume to 2003. But prices are doing much better

A Texas Broker hit it on the head when she stated:
All Real Estate Is Local. ALL. You Wouldn't Check the National Weather to determine what kind of coat to put on today, Would You?

January so far has produced 2 new sale contracts for buyers, and two sales for bank owned homes as well. Plus 6-8 new client calls, and more than 30 new email inquiries. The weather's not so bad here either.

Charlotte Home Buyer Resources

So why do we listen to the national talking heads? Here is the deal: 60% of all foreclosures are in 4 states, California, Nevada, Arizona and Florida. The remainder? Most are localized in the industrial heartland, Michigan, Ohio, Pennsylvania...

PMI, Private Mortgage Insurance, the giant, rates the risk of price declines over the next 24 months, and if you look, 2/3s of the 381 markets measured have a low to minimal risk of price loss.

For the Full Story, including the PMI analysis with a foreclosure map of the US, See my post at Charlotte Real Estate

I've created several new pages at TerryMcDonaldRealEstate, one with tips on buying homes in this new market we are in, how to reduce risk and buy smart, see it at Charlotte Real Estate- Home Buyers

If you are interested in buying a new home, here in Charlotte I can only recommend you buy Inventory and buy at a discount...

See our new page and find tips on Buying a new home in Charlotte I had a closing Friday, and in an outlying suburb, on a $250,000 sale, the builder wrote a check for $32,000 to close the deal. It was a beautiful new home, nice community, originally listed at 339,000, lowered to $279,000 when we saw it. The appraisal came in at 303,000, that is a discount.

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We are Charlotte Buyer Agents and work only for you. 704-351-1519 Charlotte NC Terry's Introduction to Charlotte, Over 10,000 views You Tube views-#1 for a search Charlotte NC,

About Charlotte NC Charlotte Homes For Sale Charlotte Luxury Homes For Sale First Time Home Buyers

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte Homes for Sale Homes for Sale Charlotte NC an Update

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Wed, 07 Jan 2009 06:51:43 -0600

Terrific Home for Sale, Real Estate and market report posts From Charlotte NC

Know Where you want to live in Charlotte? Use Charlotte Real Estate

Charlotte Home prices Up since 2006 says Case Shiller.

I've been working on a Charlotte First Time Homebuyer Guide to help first time Charlotte home buyers work through the process and give them the tools to buy a Charlotte home smart.

Terrence (Terry) McDonald awarded Best in Charlotte Real Estate Client Satisfaction 2008

from Charlotte Magazine

If you are moving to Charlotte, try the #1 Relocation site, CharlotteCommunites, with You Tube's #1 Video of Charlotte NC,

Terry McDonald's Introduction To Charlotte NC has over 10,000 video views, 20+reviews, a fact filled 4 minute video that is the # 1 result on You Tube when you search for Charlotte NC.

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First Time Home Buyers Charlotte Homes For Sale About Charlotte NC Charlotte Luxury Homes For Sale

Charlotte Buyer Agent Terry McDonald

Wilkinson And Associates

Top Team 2006, Top Team 2007

Largest Foreclosure Sale (Representing Buyers) 2008

TerryMcDonaldRealEstate.com

We do Not practice dual agency and work only for you. 704-351-1519

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte NC Market Report Ballantyne and Zip Code 28277 Deep Market Report

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Wed, 07 Jan 2009 05:37:29 -0600

South Charlotte, About Zip Code 28277

A Deep- Market Homes for Sale Report

Charlotte NC South Charlotte zip code 28277 has been a vibrant, and as you'll see below very ehalthy real estate market for more than 2 decades. Home to 4 country clubs including Ballantyne, 28277 boasts the highest per capita income in south Charlotte. TPC Piper Glen is here, Providence Country Club, Raintree, Ballantyne Country Club, and also well-regarded Providence High School and Ardrey Kell High ...

Ballantyne is becoming a mjor employment center full of growing businesses, everything from the headquarters of Lending Tree.com, a major Liberty Mutual office, the local and growing ESPN regional office, and a host of other regional branches.

You'll get a good understanding of all the numbers, how people live, and see the relative "affordability" of Charlotte homes here too... if you look closely you'll see why 28777 is one of the most dynamic zip codes in all of Charlotte, NC, and you'll see real steady home values. Photos are thumbnails, click to enlarge.

Charlotte Homes For Sale Report Zip Code 28277

There are 2 homes for sale in 28277 for under $175,000 There are 78 homes for sale for under $250,000, but more than 175K- Median $218,000 on about 1900 sf

of these, 55 have two car garages, 30 have community pools, 31 built before 1990, and 4 since 2005

There are 126 home s for sale for under $350,000, but more than 250K- Median $303K on about 2600 sf

Of these, 61 homes have community pools, 41 with pool AND clubhouse, no "over 55" community, 32 are new or newer, built since 2005, 35 with master bedrooms on the main

There are 38 homes for sale for under $500,000, but more than 350K

Median $430K on about 3200 sf

Of these 19 have community pools, 20 are built since 2005, 6 are in golf course communities

There are 85 homes for sale for under $700,000, but more tha 500K Median is $596K on aout 3900 sf of these,

38 homes are in golf course communities, 14 homes new or newer, built since 2005, 46 homes with master bedroom on the main, 26 homes with greater than .5 acres 41 homes over 4000 sf.

There are 36 homes for sale for under $1M, but over 700K- Median $836K on about 4500 sf Of these,

24 homes have the master bedroom on the main floor, 24 homes in golf course communities, 11 homes on the golf course, only 4 built since 2005

There are 36 homes for Sale for Over $1M Median $1,986K, on about 7000 Sf Of these,

27 are in golf course communities, 15 on golf course, 4 built since 2005

Year to year,South Charlotte homes sold in 28277?

Comparing September through December 20, in 2008, there were 176 homes sold, versus 325 homes sold in the same period in 2007. Sales down by half, or almost half. Home Prices? The median cost per sf fell just 2.2% to $129.00- testament to the strength of the underlying values of south Charlotte in general, zip code 28277 in particular in the face of a very slow market indeed... All data is derived from the Carolina MLS. No reporting is done for Days On Market because this stat is unreliable in the aggregate. For Sold home analysis, square foot is exact.

------------------------------------

Moving to the Charlotte Area? South Charlotte, Waxhaw, Fort Mill Perhaps? Your first Charlotte home?

I am a Charlotte real estate broker specializing in relocations, 2nd homes and first time home buyers--buying and selling real estate of all kinds- and will represent only you. My team works with Buyers and Sellers every day from Ballantyne to Lake Norman -and Fort Mill SC too. My team and I know the homes, the communities, and the new home builders. We know what's hot, what's not, and where the deals are. I think as you read my posts you'll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser. We are working to make your relocation to the Charlotte area easier, less stressful and help you "buy smart." 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 Homes For Sale- Map & Community Based, over 20,000 properties for sale!

Fort Mill- First Time Home Buyer Report (maps included!)Fort Mill Homes For Sale- Deep Market Report Charlotte NC Homes Best Value Under 500K

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charotte Communities in 2009 |Charlotte NC

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Tue, 06 Jan 2009 07:03:12 -0600

Charlotte Homes For Sale and Charlotte Real Estate Became Charlotte Communities at the end of 2007.

Charlotte Communities has become THE Charlotte Relocation site of choice-

In 2008, visitors from 129 countries came to Charlotte Communities, and CC was translated into 51 languages.

Charlotte Communities provides, in good times and bad, an objective in depth review of Charlotte Homes for Sale/ Charlotte Homes Sold Real Estate Market Reports, community stats, community reviews, and a variety of intriguing articles about real estate and real estate mortgages... even as the year grew more challenging. Much of our real estate information is not found anywhere else- our Charlotte Homes for Sale Reports are wide and deep and prepared with a local Broker's insight, our take on regional real estate is our own.

But its not just Charlotte real estate, Things To Do in Charlotte is a favorite and our local and regional reporting help readers keep an eye on the regional and national news that affect Charlotte, NC.

Yes, they come to see Charlotte home prices, but also Arts and Cultural reviews and links, things to do with children, like Imaginon, and things for the more advenuresome, the US National Whitewater Rafting Center which held the US Olympic team trials in April. Five writers contributed at least 5 articles in 2008. All the information is reviewed by us- independent, informed observers of the Charlotte real estate scene, and only me being a buyer Agent- with no dog in the fight on where someone buys a home. Things to Do in Charlotte has reported on everything from the Charlotte Greenway system to the popular Light Rail Lynx, Uptown performances to the India Festival, local concerts and more...

Sustainable growth

Radar Logic of NYC called Charlotte the only "Objectively Affordable major city on the Case -Shiller report, cited "Sustainable growth" as the reason, a Charlotte cocktail of affordable home prices, a good economy with good jobs, and comfortable living (low taxes and lower on the "fear" quotient)--what they know that the national press often miss. Charlotte Communities/Terry McDonald's video Introduction to Charlotte is #1 on You Tube searches for Charlotte NC, together with the Charlotte Communities blog, this has become the #1 place for Charlotte relocation news. ------------------------- Charlotte NC Terry's Introduction to Charlotte, Over 10,000 views You Tube views-#1 for a search Charlotte NC,

About Charlotte NC Charlotte Homes For Sale Charlotte Luxury Homes For Sale First Time Home Buyers

Charlotte Buyer Agents work only for you. 704-351-1519. Like what you are reading? Sign up for RSS, Real Simple Syndication. Create your own newspaper, I strongly recommend the Google Reader. You'll love it!

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte NC| Terry's You Tube Video of Charlotte Hits 10,000 Views

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sat, 03 Jan 2009 20:21:08 -0600

Introduction to Charlotte NC 10,0000 Full Views, 22 comments, #1 in You Tube Search

A year ago in November, I spent about two weeks writing and filming this Introduction to Charlotte video. With the aid of an able videographer/producer, I was able to get a good result, one that has placed me #1 on the You Tube search for Charlotte NC, and in December passed the 10,000 Full View mark. Why this effort? I have a Buyer Agent business that is 95% relocation, and had become convinced that there were all too many "southern stereotypes" that people were applying to Charlotte... Once I picked the straw from my teeth, I am able to explain that Charlotte isn't Andy of Mayberry, or its cousin, Cannonball Run. Charlotte IS a large modern city in the south...an economic powerhouse, Charlotte is the heart of the New South. Or Charlotte NC ------------------------- Charlotte Communities My Charlotte blog for relocating families

About Charlotte NC a great place to start your relocation search

Charlotte Homes For Sale easy, map based home and community search

Charlotte Luxury Homes For Sale Waterfront, Country Clubs, Myers Park etc

First Time Home Buyers Especially for you--how does all this work?

We are Charlotte Buyer Agents and work only for you. I am easy to reach, 704-351-1519, I try and answer every new call. Like what you are reading? Sign up for RSS, Create your own newspaper through Real Simple Syndication. I strongly recommend the Google Reader. You'll love it!

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte NC Homes for Sale Market Reports with ZING!

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Tue, 23 Dec 2008 09:29:47 -0600

Check the Detail in these Charlotte area deep market reports... Charlotte Homes For Sale Reports with ZING!

Baxter Village Homes for Sale excerpt:

Home Prices Up, Sales Equal 2007, popular Baxter Village stays true to its ideals…

Charlotte NC A lot has been written about Baxter Village, variously called a “new urban development”, a “front porch community”, a walking community, truthfully described as an “old time neighborhood with modern conveniences.”
Fort Mill Homes for Sale

Huntersville Homes For Sale here is an excerpt

A Deep Market Huntersville Homes Report for First Time Home Buyers to Luxury Home Buyers.

Market Direction- Strong Buyers Market in Huntersville*

Huntersville is a popular town 10 miles north of Charlotte NC, and at the bottom of Lake Norman… where the “lake area” begins, Huntersville changed from a small farming community to one of the Charlotte area’s fastest growing suburbs. Huntersville a became known for its high quality of life-winning Best Place To Live in Money Magazine a few years ago, convenience to north Charlotte and Uptown, and great communities like Birkdale, Wynfield and McAulay, and many others.

The Sanctuary- Luxury on the Lake in South Charlotte excerpt:There are

Big Savings on Charlotte New Inventory Homes, Custom Homes and Luxury Real Estate in Charlotte NC- Here is what is available at The Sanctuary for closing by year end.

The homes below are from the Sanctuary, the area’s #1 Selling new home community in the “over $1M Luxury home” category. These are larger inventory homes that I could get great deals on before years end. Builders need to move these units, we NEVER pay retail,
South Charlotte 28277 Homes for Sale
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Like what you are reading? See more at the links below from Charlottes #1 blog for Charlotte Relocation.

About Charlotte NC Charlotte Homes For Sale Charlotte Luxury Homes For Sale First Time Home Buyers

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Homes For Sale- Charlotte NC- A Market Report Review

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Sun, 14 Dec 2008 07:48:35 -0600

Charlotte NC

An update of Charlotte Homes For Sale- South Charlotte, Fort Mill, Huntersville

Fort Mill Homes For Sale a popular SC suburb to Charlotte NC

Homes for Sale South Charlotte A luxury townhome report

Home For Sale South Charlotte- Southpark Southpark is doing just fine...

Homes for Sale Charlotte- Myers Park Charlotte's favorite over $1M community

As always, you can begin your search for Charlotte homes here, an a map based community oriented sit, or, irf you know where you'd like to be, just get started at Charlotte Real Estate

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Moving to the Charlotte Area? South Charlotte, Huntersville, Waxhaw Perhaps? Your first Charlotte home?

I am a Charlotte real estate broker specializing in relocations, 2nd homes and first time home buyers--buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day from Ballantyne to Lake Norman -and Fort Mill SC too. My team and I know the homes, the communities, and the new home builders. We know what's hot, what's not, and where the deals are. I think as you read my posts you'll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser. We are working to make your relocation to the Charlotte area easier, less stressful and help you "buy smart."

I won a Best In Client Satisfaction Award 2008 from Charlotte magazine, based on a 30000 purchaser survey, details in the link. 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

Housing Stimulus- It is Coming, We Face Choices

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Thu, 11 Dec 2008 08:10:13 -0600

Stimulus-Relief for Home Buyers- YES, Relief for Holders of Sub-Prime Facing Default- YES

It seems likely that the new Congress and new administration will pass a major economic stimulus plan early next year. Everyone I know is hoping that a much needed HOUSING STIMULUS will be a part of that plan, hopefully signed into law in January. Recently I've been reporting and discussing plans put forward by NAR and NAHB, plans and recommendations to jump start the housing industry, to return demand to the housing market, and yes, put us real estate people back in business! Both are sweeping proposals and if adopted, in whole or in part, will likely bring buyers back into the housing market in a hurry. Hurrah.

But these proposals are avoiding the elephant in the room.

Credit Suisse is predicting 8 Million new foreclosures in the next 2 years. Eight Million. If they are correct, that is one of every 7 American households- 16%, and they are predicting most of this in prime mortgages. with sub-prime defaults peaking in 2008. That's right- the crisis that began in sub-prime is moving up the mortgage food chain. Why? Falling home values. Home prices have been predicted (absent a stimulus plan) to fall another 18% this year... Devastating? You bet, for the families, for the communities, and for Main Street. For us Realtors? You bet-- in a catastrophe of this magnitude no one will be let off the hook, and we are not faultless. Even today, many folks with good credit and good jobs are making an arguably rational economic decision walking away from their $800,000 loans on homes now worth $600,000.

If the nation wants to rebuild the housing sector, any plan must stop the slide in home prices and reduce that 8 million number dramatically. I know the arguments about personal responsibility- I understand them, I've taught them to my children, and agree with them, to a point. But we've authorized 700B to prop up major banks, figuratively covering the colander with our hands, but our financial system can not handle 16% of the mortgages non-performing. We need to look at how to keep the majority of these people in their homes, paying their mortgages, and stimulating demand to stop the price slide.

There has been a group of companies that have sold credit in predatory ways to the less educated, to the under informed, to the young and yes to many minorities. You know the companies- the fall under the 'pay Day loans", Rent -To-Own (buying with 30%, or more, interest), the credit card companies that send those dozens of offers to your non-working college student- and then if they are late on one payment, their rates are jacked-up to 28%, and for decades the home improvement industry has targeted the less educated with high cost home improvements at low monthly payments. Predatory mortgage loans have been rising in rural areas and urban area. Many have prepayment penalties- so if the creditor has cleaned up their credit they still can't get out from under this loan. I wouldn't care if this industry was wiped out- but they too have mortgages "securitized" by Wall Street.

Clearly, not all sub-prime loans were predatory. And yes the government initially pushed sub-prime to help more people to be able afford their own home. But Part 2 of the sub-prime mess began just a few years ago when Wall Street injected mortgage "jet fuel", the credit default swap, that increased demand of these securities in 2004, 2005 and 2006. Every day Wall Street demanded more and more of these loans. This led to nearly 1 in 3 mortgages originated in 2006 being sub-prime, up from 20% in 2002. The motivation? Higher returns.

Worse, as many as 50% of the sub-prime applicants 2004-2006, could have qualified for conventional conforming loans. I had one client in the last several years- offered a 30 year fixed rate FHA loan, with no money down ($6000 in seller concessions negotiated) she took a loan, from "a friend," a 2 year adjustable note that had payments of about $50/mo less, and had closing costs of you guessed it, $6000.

So we have to fix sub-prime mortgages, keep people in their homes and stimulate new demand all at the same time. Not to push prices backup, just as a back stop prices to keep them falling any further.

If anything like 8 Million homes go into foreclosure, lenders will stop lending, the real estate industry as we know it will be over, American families will be robbed of their wealth- and in the process, destroy the American dream once and for all.

It is a risk I don't want to take. But the tough nut remains- how to fix these securitized mortgages in a way that keeps people in their homes, and distinguishes from the home owner and the speculator. More on that next time.

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte Communities-Updated with new pages About Charlotte, more

Charlotte Real Estate- TerryMcDonald (TerryMcDonaldRealEstate.com, LLC) — Mon, 08 Dec 2008 09:23:50 -0600

Charlotte Communities New Pages- About Charlotte and Luxury Homes in Charlotte

I recently added two major pages to my community blog, Charlotte Communites. I'd like to tell you about them.

About Charlotte

Charlotte is one of the least known major cities in America. Our economy is strong,our Case-Shiller home prices are and have been the best in the nation, our community is sound... but many people feel that since we are in the South, the southern sterotype seen on TV may apply... I've never been asked directly, but sometimes I think I hear my potential buyers from the West Coast or the Northeast thinking, we are 1 part Andy of Mayberry and one part Cannonball Run...

Well no. Charlotte is a large modern city in the South. If Atlanta is the capital of the New South, Charlotte is the heart of the New South. See more about it at the link above. Or visit my well-regarded video, - the number 1 hit for the YouTube search Charlotte NC.

Luxury Homes in Charlotte

This page outlines the many good choices found in luxury home sin Charlotte NC- with directlinks to new pages on Myers Park,Southpark, Lake Norman, Weddington-Waxhaw, The club at Longview, The Sanctuary, and more - all the best ares are here, with photos, text and links to additonal photos.

As always, you can search Charlotte Homes for Sale at the very cool Google map-community search, and searchfor Charlotte luxury homes here.

Thanks for reading

Terry McDonald

The McDonaldTeam

TerryMcDonaldRealEstate.com

Terry McDonald

704-351-1519

My Charlotte Real Estate Blog

My CharlotteCommunities blog,a blog for relocating folks and newcomers to Charlotte

Follow Me On Twitter at @TerryMcDonaldRE

Charlotte, NC, Terry's Blog

Charlotte Real Estate Changes: 5 Dead Assumptions

Charlotte, NC

How Charlotte Real Estate Has Changed, Your City Too?

5 Dead Assumptions in 2010

Five Dead Real Estate Assumptions

Charlotte Condominiums: Uptown Condos for Under $250,000

Uptown Charlotte Condominiums Under 250K, A Market Report

So how much condo, or townhouse does $250,000 buy in Uptown Charlotte?

There are currently 125 Uptown Charlotte Condos for sale under $250,000 ($250K)

Weddington Waxhaw Real Estate Market Snapshot October

Union County Real Estate Market Report- October 1-October 31,2009

Waxhaw, NC Homes for Sale- Homes Sold

Waxhaw Homes for Sale

Weddington Homes For Sale

Compare Your Cost of Living To Charlotte NC

Charlotte The Affordable City- Cost Of Living Comparisons

Full story at Charlotte Cost of Living

Charlotte Home Sales Rise, Devil in Details

Charlotte Homes Sold (Single Family Homes) Rose 12.5% in October

Charlotte Homes Sold Under $250,000

Charlotte Homes Sold Over $500,000, the custom luxury home market

South Charlotte Luxury TownHome- Price to Sell

South Charlotte Custom Condominium Townhouse for Sale

7908 Greenview Terrace is for You!

A smart buyer, good information and a good Buyer Agent Make GREAT deals happen!

Search Charlotte Real Estate

Waxhaw-Weddington NC Homes For Sale- Homes Sold October Report

Union County Real Estate Market Report- October 1-October 31,2009

Waxhaw, NC Homes for Sale- Homes Sold

Waxhaw Homes for Sale

Weddington Homes For Sale

First Home Buyers Tax Credits Affects Union County Homes For Sale Under $200,000

Charlotte Home Prices Passed Bottom and Trending UP

Search for Charlotte Homes- Charlotte Townhomes and Condos

SHOW ME THE MONEY!!! First Home Buyer With Check for $8,000

Charlotte First Home Buyers Say Show ME The MONEY!

Charlotte Home Prices Passed Bottom and Trending UP

Search for Charlotte Homes, Townhomes and Condos (First)

First Home Buyer Tax Credits Extended: "Move Up" Home Buyer Tax Credit Created!

First Home Buyer Tax Credit Extended, Move Up Buyers Get New Tax Credit

Our Charlotte Real Estate partner

Quick Charlotte Home Search

Or Call the McDonald Team at 704-351-1519

A Charlotte Bubble- The Craziness in Our Over $1M Market

How Did The Over $1M Market Get So Messed Up?

Charlotte Is the Biggest Loser, Raleigh Close 2nd in Hunt For Stimulus Funds

Charlotte NC

The Stimulus Plan and Charlotte- State Politics at Work Again AS Charlotte Receives $34.09 PP, Lenoir County $744 PP

How was it decided who would get what?

Where have the Federal Stimulus funds been allocated in North Carolina?

Our Charlotte Real Estate partner

Quick Charlotte Home Search

Or Call the McDonald Team at 704-351-1519

First Home Buyer Tax Credits Extended:5 Keys to Buying Your First Home Wisely

Charlotte NC

It's a new game with tax credits on until April 30, 2010!!!

Charlotte Home Prices Passed Bottom and Trending UP

Search for Charlotte Homes, Townhomes and Condos (First)

What Out Performs a Blog? A Video That Ranks for Your Keywords

In Search of Perfect "Advertising"- A Compelling Medium that Makes the Phone Ring With People Who Know Why They are Calling...

But nothing, Nothing works like my Introduction to Charlotte video, that now ranks 3rd on Google for the mega keyword (4M hits) Charlotte NC...

So, the answer to that compelling question asked in the subtitle- the answer is a quality video, that sells your "product" AND You- and one that will be found, which is where You Tube and Google come in.

After a lifetime searching, I think I've found that "perfect" source of knowledgeable phone callers...

When is the Best Time to Have a Low (20% or more) Offer Accepted on a REO?

If the bank listed the home at the BPO price, When is the bank most likely to begin accepting that lower price (80% of List) offer?

The 120 Day Rule

Charlotte NC and Charlotte Real Estate- An Introduction to the Queen City

Vist this Charlotte NC page-

Moving to the Charlotte Area? South Charlotte, Waxhaw, Lake Norman, Fort Mill Perhaps? Your first Charlotte home?

TerryMcDonaldRealEstate.com Gets New Pages

Moving to the Charlotte Area? South Charlotte, Waxhaw, Lake Norman, Fort Mill Perhaps? Your first Charlotte home?

Charlotte Home Buyers Liking What They See...

A Texas Broker hit it on the head when she stated: All Real Estate Is Local. ALL. You Wouldn't Check the National Weather to determine what kind of coat to put on today, Would You?

Charlotte Home Buyer Resources

Charlotte Homes for Sale Homes for Sale Charlotte NC an Update

Terrific Home for Sale, Real Estate and market report posts From Charlotte NC

Charlotte Home prices Up since 2006 says Case Shiller.

Terrence (Terry) McDonald awarded Best in Charlotte Real Estate Client Satisfaction 2008

If you are moving to Charlotte, try the #1 Relocation site, CharlotteCommunites, with You Tube's #1 Video of Charlotte NC,

A Texas Broker hit it on the head when she stated:
All Real Estate Is Local. ALL. You Wouldn't Check the National Weather to determine what kind of coat to put on today, Would You?

Charlotte Buyer Agent Terry McDonald

Wilkinson And Associates

Top Team 2006, Top Team 2007

Largest Foreclosure Sale (Representing Buyers) 2008

TerryMcDonaldRealEstate.com