Charlotte NC Real Estate, Diane McDermott

Happy Thanksgiving - A Day Devoted to Being Grateful

Wed, 25 Nov 2009 16:57:52 -0600

Wishing all of you, your families and friends a wonderful Thanksgiving holiday tomorrow. At a time when many are struggling and it can seem as though the stresses of life, the economy, whatever else is posing a challenge in our day to day lives is overwhelming and all consuming, a day devoted to giving thanks is an opportunity to focus on what we can truly be grateful for in our lives.

Thanksgiving isn't about how much the meal costs or what kind of silverware or china you have to adorn the table. It's not about what kind of car you may drive to your Thanksgiving destination or how fancy your house is. It's not about status or putting on a show and impressing others.

Being truly grateful for what you DO have to appreciate in your life is such a simple thing to do but can easily be overshadowed and neglected when the stress of life takes over.

It's much easier to get caught up in and focus on what's "wrong" or lacking in our lives. Tomorrow's a great opportunity to take a moment and appreciate what we do have and can be grateful for no matter how small or taken for granted those things may be.

Whether you spend the day at a large family gathering or just a quiet day at home, I truly hope each of you has a wonderfully relaxing, joyful and memorable Thanksgiving tomorrow.

Happy Thanksgiving!!!!

Real estate in Charlotte NC for Home Buyers and Sellers

Are Short Sales And Foreclosures The Outlet Malls Of Real Estate?

Sat, 14 Nov 2009 15:34:24 -0600

Found an interesting article about outlet malls and how they may not offer "deals" despite their popularity. For some, a day long trip to an outlet mall is a highly anticipated outing but do they really offer value? You can read the entire article at : Are Outlet Malls For Suckers?

I saw some interesting parallels to real estate in Charlotte NC particularly whether short sales and foreclosures are the "outlet malls" of the real estate world.

The article mentions some defining features of outlet malls. Let's compare to real estate short sales and foreclosures, just for fun:

- Outlet malls are typically located outside urban areas, so time and energy is spent just getting there which breeds the perception and rationale that you can't just walk away empty handed after all that effort.

With short sales and foreclosures- the process is anything but quick and easy, especially with the "don't call us, we'll call you" short sale process, not to mention the addendums/restrictions/bank dictated (and favored) terms of buying a foreclosure. Hmmmm, time, energy, effort, (money spent on inspections), it's a lengthy trip and you wouldn't want to walk away empty handed...right?

- At outlet malls, is it REALLY the same quality products you could buy elsewhere, just cheaper? If material quality is inferior it may last as long. Or you could think of buying a pair of pants you know are going to have to be tailored or have some flaw versus a pair that may be priced higher but doesn't require alterations.

With short sales and foreclosures- They're going to require some attention, what's referred to as "tlc". Yeah, tlc costs money and it'll come from your pocket. Buying at a distressed price doesn't put $ in your bank account but YOU will be responsible for any repairs/maintenance issues/even cosmetic work after you buy it. Cost and price are NOT the same thing. Price is a one time amount, what it ends up costing you is often overlooked in the thrill of a perceived "deal"...

- Outlet malls frequently advertise "Sale" and "Discount" and those are emotional trigger words used to stimulate and create an impulse to buy. It MUST be a great deal, just look how much it's been reduced! (uh huh...)

With short sales and foreclosures - "under tax value", "price reduced" is the same concept. IGNORE that, and ask yourself "would I buy this house if it weren't a short sale or a foreclosure"? Take the "deal " factor out of the equation. Is it in a neighborhood/location/area of town that you would choose to live in regardless of whether you bought a distressed house or not?

Buying a short sale or a foreclosure is not the right fit for every buyer, even purely from a time frame or financing standpoint. Just because a house is a short sale or a foreclosure doesn't automatically mean that it's a phenomenal VALUE.

Buying a home in Charlotte NC, whether it's a first house or your next house is about so much more than the price you pay for it at closing. Go beyond the "deal" mentality and focus on (successfully) buying the right place for you to call home.

Just some food for thought, reading that article I did see some interesting parallels to the real estate market and perception of real estate in Charlotte NC these days....

Thanks for reading!
Real estate for home buyers and sellers in Charlotte NC

To set up a consultation (via phone or in person), for any questions you may have about buying or selling a home in Charlotte NC and how current real estate market conditions may relate to you, contact us.

Buyer and Seller "Logic" Isn't Always Logical...

Tue, 10 Nov 2009 13:44:44 -0600

You've probably heard the saying that "common sense isn't all that common". When it comes to Charlotte NC real estate buyers and sellers, logic isn't always all that logical. Buyers tend to exaggerate perceived flaws while sellers view those same things as perfectly acceptable.

To a buyer: the carpet's filthy, worn out and all needs to be replaced

To a seller: the carpet's "broken in", it's still got a few years of life left in it (pet stains? what pet stains?)

To a buyer: the appliances, counters and flooring went out of style years ago, the kitchen and baths need a total remodel.

To a seller: they work just fine, why replace it if it's not "broken", besides that wallpaper was there when we bought the place and it doesn't bother us!

To a buyer: the traffic sounds from a nearby street would keep them up at night

To a seller: what noise? Oh, that? It's just "white noise", we don't notice it anymore, it's no big deal

Charlotte NC sellers - your house is NOT the only home buyers have to consider and evaluate. What do buyers really see when they're looking at your house??? Chances are it isn't exactly what you see when you look around!

Here's a "slightly" exaggerated but not all that far fetched perspective on what buyers, sellers, appraisers, lenders and tax assessors see when they look at the same house....

Sorry, But A Home Warranty Isn't Going To Sell Your House

Goals for Charlotte NC Home Buyers And Sellers

Dear Charlotte NC Buyers: I Don't Care How Many Bedrooms or Bathrooms You Want!

Goals for Home Buyers and Sellers

Thu, 05 Nov 2009 16:03:02 -0600

There's a lot of talk at this time of year about goals as we approach the end of 2009 and look forward to 2010. We're almost into the "new year resolution" season. You know, when you promise yourself to lose weight, quit some bad habit, tackle debt, whatever "goals" you'd like to accomplish.

But goals aren't just for New Year's and they're not just for businesses (or real estate brokers). Goals apply to home buyers and home sellers too!

Most people don't wake up one day and decide "I think I'll go buy a house today" or "I think I'll sell my house and move someplace else today". It's not a meal, it's a life changing decision.

For anyone who's considering buying a home or selling a home and moving on to another home, it can help to take some time and really define what your goal is.

"Buy a house" or "sell this house and buy another one" just aren't very personal and the home buying/selling process will be, so your home buying/home selling goals should be personal too.

Buy a house/sell this house are just too vanilla, they're boring and aren't really going to help you stay focused on where exactly it is you're striving to go (and I don't mean street address).

Before you're out house hunting and before your house is on the market (if you're already in the process that's ok you can start now) take the time to really define and refine your goals.

Write them down!!! To get started:

- What are you hoping to accomplish (being able to move to a house that better meets your needs, different lifestyle, owning your own home, what's the underlying reason YOU want to buy or sell a home?)

- When you achieve your goal how will it feel (relief, accomplishment, security, pride, comfort, freedom)?

- What steps can you choose to take now to help you reach your goal? (savings, credit, education, research, deciding on professional partners in your journey, for sellers - preparing your home, de-personalizing and starting the process of detaching from your "home" to the house you're selling, seeking objective feedback on where to focus your preparation efforts)

- For buyers - what would your new place look like (what stands out to you as the absolute critical elements (hint: go beyond # of beds/baths, think about what would make it a place you love coming home to?)

- For sellers - time frame's important, is it totally up in the air or do you have some reason to successfully sell before a definite point in time? Learn about the process of having your house on the market, especially if you're a first time seller!!!!

Before buying or selling a home, have a clear idea of your goal and what it is that you're trying to accomplish. A vision of how that will change your life and a focus for all of your efforts. The process of buying or selling a home can (and does) get messy, stressful and at times frustrating bordering on pure aggravation for buyers and sellers.

Don't forget where it is you're trying to get to and what that will mean for you because in the midst of the process it's easy to feel like you don't know which way is up or down. Keeping your very personal goal in mind can help remind you of what it is you're trying to accomplish and what it will mean to you when you get there.

I didn't mention price at all because that's an accessory to this process, the goal and main reason for buying or selling a home is usually much deeper than a dollar amount. A house isn't an outfit or pair of shoes, it's just slightly more of a life changing decision.

Your home buying or selling goal will be very personal to you but it will provide a destination, an end point for you to keep in sight as you travel the road that is the home buying or home selling process.

Thanks for reading!

Real estate for home buyers and sellers in Charlotte NC

What Exactly Do Real Estate Agents Do?

Tue, 03 Nov 2009 16:39:28 -0600

Sorry to disappoint but no, this isn't some long list of all the things real estate brokers do, as enthralling as I'm sure that would be.

I recently read a post by Jennifer Allan who used the most concise, explicit, eloquent phrase I've ever seen to explain exactly what it is that real estate brokers/agents do - "manage and facilitate the exchange of real property". And that IS what we as real estate brokers/agents do. If you haven't seen her post you should check it out, it's very well done - Jennifer Allan's Sell With Soul

Buying a home or selling a home is a process, a complicated one that's constantly subject to shifting real estate market conditions. It's that home buying or selling process that we go through with our clients, helping them navigate it, managing and troubleshooting when if issues arise.

Knowing (and noticing) when red flags start waving at any point in the process. Being a problem solving resource and a support for our clients as we help them navigate the process of buying or selling a home.

Helping them to evaluate options at every step of the way, so they have a chance to make an informed decision NOT just at the time of an offer negotiation but at each decision point in the process.

While the steps of the process are similar in general, each buyer and seller's path to successfully moving in or moving on will be unique. Every home buyer or seller will encounter challenges and opportunities. The key is to identify and work through the challenges while recognizing opportunities.

Thanks for reading (and thanks to Jennifer for inspiring this post!)

Real Estate for Buyers and Sellers in Charlotte NC

The Worst Months To Sell Your House...November and December Of Course

Tue, 27 Oct 2009 15:25:36 -0500

You may have heard that November and December are the absolute worst months to even attempt to sell a house in Charlotte NC. Traditional advice is to just pack it in, give up and wait till after the New Year. After all, spring is the "peak" time to sell your house, right?

Maybe. Maybe not. It's actually not quite so simple or clear cut, besides I think some "traditions" are over-rated and this happens to be one of them.

The consensus that November and December are just purely awful months to even consider selling a home are based on the logic that the amount of successfully sold real estate listings reaches an annual lull at this time of year. Regardless of any other market conditions it's usually true that November and December are slower and see fewer closed real estate listings.

But....that's not the whole story. See, it's not just sold listings that typically reach an annual low in November and December. The amount of NEW listings also usually takes a steep drop. Not to mention the innumerable would-be sellers who take their house off the market this time of year (you know, to enjoy the holidays) and go into hibernation till the new year rolls around. They'll be back though, along with lots of other competition new listings.

For data and graphs with listing activity showing the November/December real estate market trends: Single Family Real Estate Market in South Charlotte NC

Single Family Real Estate Market in Southeast Charlotte NC

Single Family Real Estate Market in South/Southwest Charlotte NC

So new listings noticeably drop off, would-be sellers remove their homes from the market, for serious Charlotte NC home sellers...that's your competition and they're stepping out of the way for you in November and December!!!! You could look at it as their holiday gift to you.

Another bonus - home buyers searching in November/December also tend to be a bit more serious instead of "just looking".

Now, this advice isn't for everyone of course. It's for homeowners and sellers who truly are serious about selling their home successfully. For homeowners and sellers who have decided it's time to move on (for location, lifestyle, needs in a home, whatever the reason) and are ready to navigate the challenges of selling their Charlotte NC home.

If the goal of selling your home is to be able to move on, the sooner you successfully sell your current place, the sooner you'll be able to take on the home buyer role which in so many cases right now has a ton more opportunity just waiting for you.

By selling in November, December you could very well be ready to capitalize on the buyer side when those new listings start coming back after the new year and into the spring. Because they will be back, along with a lot of pent up inventory from homeowners waiting with plans to sell their home.

Related Articles: Charlotte NC Real Estate Market Reports

Charlotte NC Sellers, A Home Warranty Won't Sell Your House

Real estate for buyers and sellers in Charlotte NC

I Won't Be A Cheerleader for the First Time Home Buyer Tax Credit

Thu, 22 Oct 2009 11:57:01 -0500

No, I won't be a cheerleader for the first time home buyer tax credit. Maybe that's heresy or blasphemy for a Realtor®, but allow me to explain....

I don't have a problem with the home buyer tax credit (the current one or any future incarnation of it), it's absolutely an additional benefit that buyers wouldn't have had a year ago.

What I DO have a problem with is when the "home buyer tax credit" is used or implied as either a reason to buy a home OR a reason to buy a home right now. In my opinion both are faulty logic at best and reckless at worst. A tax credit is not and will NEVER be a valid reason on which to base the decision to become a homeowner.

A tax credit is momentary, it's fleeting, it'll be gone and just a memory before you know it. Owning that home won't be. The decision to buy a home is a big deal. It's a commitment and responsibility you're agreeing to take on, and it'll last long after the thrill of any tax credit that came as a result of buying that house.

It'd be like someone buying a car to get the free tank of gas that came with it. SERIOUSLY?!?!

Maybe it's just me but I don't believe that a potential tax credit has any place at all in the very personal and serious decision of whether to buy a home, and if so deciding when the time is right for you.

So no, I really won't be a cheerleader for the home buyer tax credit (I've never been the cheerleader type anyway). There's so much more to the home buying decision and process than whether or not you'll get a tax break next year.

Any potential tax benefit would be a nice treat but it just doesn't belong as a factor in the home buying decision or deciding when the time is right for any given home buyer. There's never, ever a "right time" for everyone to buy a home. Circumstances and personal needs/considerations will be different for everyone.

If you have bought or are on your way to buying your first home recently...congratulations on becoming a homeowner!!! Now enjoy having a home of your own, it'll be around long after the thrill of any tax credit :)

Thanks for reading!
Real estate for home buyers and sellers in Charlotte NC

Home Buyers: Have A Good Faith Estimate Before Making An Offer To Buy A Charlotte NC Home

Wed, 14 Oct 2009 13:27:38 -0500

For buyers looking to (successfully) buy a home in Charlotte NC, before choosing a home and making an offer it's a really good idea to have at least a preliminary good faith estimate from your mortgage professional.

Just as an aside....if the mortgage professional you're working with is evasive OR tells you they need a purchase contract to even give you an estimate, that's a huge red flag!!!

A good faith estimate from your mortgage professional will help you the home buyer get an idea of what you're looking at when it comes to closing costs, a general idea of what it will cost you to actually buy any home you're considering.

While it's just an estimate and the chances are pretty good exact numbers will change based on which home you choose to buy (things like taxes, insurance, purchase price, an unlocked interest rate all could impact closing costs), having at least an idea of closing costs for any mortgage is always helpful before deciding to make an offer on a home. You'll get a new good faith estimate when if things change but a preliminary one is still absolutely a good idea.

Before making an offer to purchase any Charlotte NC home for sale, take the time to talk with your mortgage professional about closing costs AND to have a chance to review a good faith estimate with them. Buying a home's a complicated process and education is powerful. Knowing ahead of time what you're getting into is key to taking the next step on your successful home buying journey.

Having a good faith estimate before you even make an offer to buy a home also allows you the home buyer to compare the costs, pros and cons between loan options that you may be considering. It's typically less stressful to have started to weigh and evaluate those mortgage options before you're in the midst of home inspections, any repairs, the myriad of deadlines in the contract to close phase when buying a home in Charlotte NC.

It's also helpful to have an estimate of your closing costs in the event that's a point of negotiation during the offer to contract phase rather than blindly agreeing to some amount in a purchase contract that may or may not be in line with what's realistic.

None of the above is mortgage advice, just some observations and suggestions from having been a buyer's agent, seller's agent and home buyer myself in the Charlotte NC real estate market.

Thanks for reading!

Real Estate for Buyers and Sellers in the Charlotte NC Real Estate Market

To set up a consultation (via phone or in person), for a customized list and regular updates with changes to available homes for sale in Charlotte NC that may be of interest, OR for any questions you may have about buying or selling a home in Charlotte NC and how current real estate market conditions may relate to you, contact us.

Even With A Fixed Rate Mortgage, Your Payment Can Still Change

Thu, 01 Oct 2009 14:03:41 -0500

Ok, I just wrote a (typically) long winded article about this, for the full version visit How Your Monthly Mortgage Payment Can Adjust Even With A Fixed Rate Mortgage but thought I'd post a brief version here on Active Rain too.

Yes, even with a fixed rate home mortgage it's still possible for your monthly payment to change in the future. While the principal and interest portions will stay the same (amt toward interest goes down, principal goes up but they remain the same combined amt each month) if you have an escrow account with your home loan it IS possible for that to change and affect the amount you owe each month for your mortgage payment.

The most common change that causes a mortgage payment to adjust is the ever-popular real estate tax! Things like city/countywide property tax rate changes, property tax value reassessments (Charlotte's is due in 2010), and improvements or changes to the house itself can shift and change the amount of annual real estate taxes for a home in Charlotte NC.

Escrow accounts are typically reviewed annually, and any shortfall can trigger a change in monthly payment to make sure there's enough in the escrow account to pay the property taxes and home insurance when they come due since those bills are paid from funds reserved in that escrow account.

All in all, it's just one more really good reason that it's important for home buyers to not only have reserves before buying a home but AFTER buying that home as well.

For the full article plus a local Charlotte NC real estate consideration for home buyers (annexation into the city limits), visit How Your Monthly Mortgage Payment Can Adjust Even With A Fixed Rate Mortgage.

Thanks for reading :)

Open House at a Truly Stunning Charlotte NC Home for Sale - Sunday September 27th 2-5pm

Tue, 22 Sep 2009 10:36:00 -0500

Open house at 7547 Chapel Ridge Rd in Charlotte NC will be held this Sunday September 27th from 2-5pm. At $225,000 this Charlotte NC home for sale is a one of a kind home, with an elegant and spacious layout(perfect for entertaining!) plus a prime culdesac location with mature landscaping and an incredible backyard.

Located just minutes from Northlake and I-77, for any buyers considering the Davis Lake or Highland Creek areas of Charlotte, this home in the Brownes Ferry neighborhood in Charlotte NC is well worth adding to your list.

The Brownes Ferry neighborhood is full of winding streets, mature trees and this home for sale on Chapel Ridge Rd is just 1/2 mile to Clark's Creek greenway access.

The main level features hardwood and tile flooring, soaring great room which is open to the huge cook's kitchen as well as an additional den area. The rear of the main level overlooks the lovely backyard setting, and offers access to the expansive deck area.

For additional photos, features and to take a virtual tour of this stunning Charlotte NC home for sale, visit Brownes Ferry home for sale 7547 Chapel Ridge Rd in Charlotte NC.

Open house at this incredible Charlotte NC home for sale will be Sunday September 27th from 2pm-5pm.

7547 Chapel Ridge Rd in Charlotte NC is priced at $225,000, listed by Diane McDermott with Landis E2 Real Estate LLC.

For more information about this or other available homes in Charlotte NC as well as insight into buying or selling a home in Charlotte NC, visit us at Real Estate with an educational edge in Charlotte NC

Paint And Perception of A Charlotte NC Home For Sale

Thu, 16 Apr 2009 13:58:00 -0500

A home's interior paint most definitely impacts buyer perception - for better or worse. A common homeowner misconception about "fresh paint" is that it's an upgrade or improvement. It's not. Paint is a maintenance item, NOT an improvement.

Fresh, warm, inviting paint throughout a Charlotte NC home for sale isn't going to add a dollar amount to the value of the home but more important can be avoiding the negative consequences of buyer perception and reaction to neglected or mismatched interior paint.

Home buyers can perceive paint issues as a drawback. Translation: they'll deduct $ from what they're willing to pay. And it's not about the cost of paint which is relatively inexpensive. It's the hassle, time and energy involved in having to correct any paint flaws in the house that the buyer perceives.

Interior paint in a home for sale in Charlotte NC is certainly a factor and done well can enhance how a home shows, how it's perceived by buyers and help that house stand out from the competition.

What it won't do is increase the value of the house (because it's maintenance and expected to be in good condition), OR help an overpriced home sell. Paint in a home for sale is an accessory, it can help or hinder but will never be able to overcome a list price that's inflated and unrealistic. A fresh, well done paint job is good, but it's not a magic wand - price, condition and the competition are key. Paint's just one component of that package.

Continue reading at: Paint and Real Estate for Sale in Charlotte NC

There Are Always Opportunities and Challenges in Real Estate, They Just Depend on Current Conditions

Wed, 17 Dec 2008 16:45:34 -0600

Whether buying or selling real estate in Charlotte NC, there will always be challenges and opportunities for you. What changes over time is what the current opportunities and challenges are and how they relate to your real estate goals.

At times, buyers face greater challenges and fewer opportunities. At other times (now) sellers face more challenges related to real estate in Charlotte NC.

For well qualified, serious buyers searching for real estate in Charlotte NC there are many opportunities in Charlotte NC real estate right now. On the flip side, for Charlotte NC home sellers, they face more challenges than just a year or two ago.

This doesn't mean every seller will be unsuccessful and every buyer will have a glitch-free ride to purchasing a Charlotte NC home. Understanding the current opportunities and challenges that relate to you and your goals in buying or selling real estate in Charlotte NC is simply another aspect of evaluating the current real estate market in Charlotte NC and how it relates to you!

Continue reading at Opportunities and Challenges in Charlotte NC Real Estate

Diane McDermott
Real Estate in Charlotte NC

Property Tax Revaluation Postponed for Charlotte NC Homeowners

Sat, 06 Dec 2008 08:19:24 -0600

Last week in Charlotte NC, the Mecklenburg County Commissioners voted to delay the revaluation of real estate property values for at least another year.

Property tax values were supposed to be revaluated in 2009 which would have been the first adjustment in property tax values since 2003.

Regardless of the market value of your home, your tax value for real estate in Charlotte NC (which is used to calculate your annual real estate taxes) will remain the same for at least another year to come.

Continue reading: Real Estate Tax Value Adjustment in Charlotte and Mecklenburg County Delayed

Days on Market - What's the Real Story?

Mon, 17 Nov 2008 14:51:47 -0600

Days on market for Charlotte NC real estate can tell a story that isn't always readily apparent. Learning the true days on market for a Charlotte NC real estate listing involves looking at the history.

Finding out if the house has been withdrawn or expired then "refreshed" can give insight to both buyers and sellers in the Charlotte NC real estate market.

Along with knowing about any changes in pricing, the length of time a house has been on and off the market can provide valuable insight to buyers evaluating a Charlotte NC real estate listing. For sellers it is an important piece of analyzing neighborhood activity - how long have the neighbors really been trying to sell?!?!

Days on market for real estate in Charlotte NC isn't always the same as finding out when the current listing hit the market, there can be a lot more to the story!

To read more about Days on Market, visit Days on Market for Real Estate in Charlotte NC

Copyright© 2008 by Diane McDermott, All Rights Reserved, "Days on Market - What's the Real Story"
Real estate in Charlotte NC

Dual Agency: Just Because It's An Option Doesn't Mean It's A Requirement

Thu, 30 Oct 2008 11:26:48 -0500

In NC, we have the option to work exclusively for a buyer, exclusively for a seller or to work as a dual agent - representing both buyer and seller.

Personally, I believe that just because we as NC agents have the option to work as a dual agent doesn't mean that's the right decision for everyone. I prefer to work exclusively with a buyer or exclusively with a seller, NOT for both parties.

I consider loyalty a pretty big deal, and that's exactly what's sacrificed when taking on the role of a dual agent. While working with clients I get to know a lot about them, their families, their goals and fears, confidential information that they wouldn't want the other party to know. I'd much prefer to be firmly on one client's team and be able to work for their best interests, giving advice, support and guidance as their exclusive agent.

Some agents may certainly feel that dual agency is a good fit for them and that's fine but it just doesn't work for me.

To read more, visit: Charlotte NC Dual Agency In Real Estate

Real Estate In Charlotte NC

The Real Estate Business Is Personal (or at least it should be)

Thu, 25 Sep 2008 16:12:50 -0500

Buying or selling a home is a deeply personal decision for most people. There are tons of different reasons for purchasing or selling, from a first home, needing a larger home, downsizing, schools, different neighborhood or style of home. Whatever the underlying reason it will always be unique to that buyer or seller.

A real estate purchase or sale is inherently tied to individual needs, goals, desires and circumstances. Therefore, it should follow that their real estate agent takes the time to listen, learn and strive to understand each client's personal situation, their fears and concerns as well as the short and long term goals.

Clients don't care how many other people their agent is working for right now, they want to feel like they're the agent's ONLY client.

They want to know that their agent will be there when they need them. That they not only have support, but that their agent will take the time to listen to where they're coming from, where they're trying to go and what they fear along the way.

That their agent will be there to support them throughout the life-changing process of buying or selling a home, not just at the offer or closing stage but through the entire process. They don't want to feel like just a number (client 38426 doesn't have a very warm or personal ring to it), they want to feel like a real person who has a real agent.

You don't have to agree with me, but I truly believe support, service, responsiveness and partnership with clients are critical elements of the real estate relationships we as agents have with our buyers and sellers. The "business" of real estate is (in my opinion) very personal in nature.

Real Estate in Charlotte NC

Beverly Woods Open House This Sunday, 9/21/08

Fri, 19 Sep 2008 12:34:27 -0500

Brokers, Buyers and Beverly Woods Neighbors are invited to take a closer look at 3542 Garden Club Ln this Sunday September 21st from 2-4pm. Located minutes from South Park in a quiet, established neighborhood, this Beverly Woods Home for sale is a must-see!

Great layout and tons of living space, this home is ready for new owners! 4 bedrooms, 3 updated full baths, screened porch, 2 car attached carport, hardwood floors throughout main level, maple cabinets in kitchen, large dining room with new atrium door.

For more information, visit: Real Estate in Charlotte NC

Buyer Agent Bonuses Are A Waste Of Time!

Tue, 19 Aug 2008 12:16:43 -0500

Offering a bonus to buyers agents is a waste of time and energy. A bonus will not determine whether the house meets a buyer's needs, it won't change the condition of the house, it won't change the location of the house and an agent bonus has nothing to do with whether a buyer chooses to offer on a given property.

When working as a buyer's agent, my duty, loyalty and fiduciary responsibility are to the BUYER, not myself. This means that I'm looking out for my buyer's needs/wants/best interests, NOT whether a seller is offering to pay a bonus.

I realize this may be a difficult concept, but I take my duties seriously. It's not ever about my needs, it's about the CLIENT, the one who's hired me to professionally represent them!!!

When I see buyer agent bonus offers, I find it interesting because to me it shows:

1. Sellers are motivated, they must want to sell pretty badly

2. That list price is apparently not very firm if they're willing to offer a bonus on top of the offered commission split

What do I do when showing a house with an agent bonus offered? I tell my buyer clients and explain those key points about the apparent motivation and that the list price may not be very firm.

If a house that my buyers are interested in happens to have a bonus offer, I'll tell the list agent I'm not interested in the bonus and my buyers can deduct any bonus amount from the list price when they consider placing an offer. After all, if a buyers agent bonus has been offered, that's lowered the net to the sellers so why not just have the buyers take it off the list price when putting together an offer?

My bottom line is about finding a house that my buyers want to call home, no agent incentive will ever change or affect my client's needs and which house will be a good fit for them. I don't "sell" buyers on a particular house, I work with them to find them the most ideal house possible for the best possible price.

It's about evaluating properties, price, condition, features and how those match buyer needs and desires, not about giving buyer's a sales pitch. Listening to their needs and concerns while helping them evaluate properties, not trying to convince them they should fall in love with a particular house.

Marketing a listing should be about getting a qualified, motivated buyer in the door and offering on a house that meets what they're looking for in a home. Agent bonuses won't ever change buyer needs, price range, or motivation and at the end of the day, it's about finding the right BUYER for the house.

I assure you, if your listing seems to be a good match for my buyer clients, I'll show them the house. You really don't need to offer a bonus for me to help my clients find their next home, and if the sellers are motivated and willing to reduce their net, have them offer it to the buyers (closing cost credit, home warranty, list price reduction).

Maybe it's just my opinion but I think agent bonuses are among the least effective tools out there for sellers and list agents.

Proposed Community Wastewater Treatment Plant Debate Continues in Weddington

Tue, 12 Aug 2008 11:54:20 -0500

There's still no resolution on the proposed Wastewater Treatment Plant for "The Woods" community in Weddington. Located just southeast of Charlotte in popular Union County, neighboring residents have been vocal in their opposition to the wastewater plan for the proposed upscale community of homes in The Woods.

At issue is community access to sewer services. Since Union County sewer services are not available, the developer of The Woods (IB Development) has requested county approval for a community wastewater treatment facility located within the neighborhood itself.

Weddington residents have voiced their concerns, just some of which include the potential impact on neighboring properties/neighborhoods, health, and whether it would set a precedent for future developments.

The Woods of Weddington has a page dedicated to information about the proposed plant including technical and proposed ownership/maintenance of the plant. The Friends of Weddingtonhas a blog set up where they've posted concerns and articles relating to the ongoing debate.

Regardless of the outcome it certainly is an interesting local issue. If you're interested in attending the Weddington Town Council meeting on this proposal, the next scheduled meeting will be held at Weddington High School on August 18, 2008 at 7pm.

UPDATE, 8/19/08: Still no decision, meeting will be continued August 21, 2008, 6pm at Weddington High School

FINAL UPDATE, September 2008: Weddington Town Council unanimously denied the conditional use permit for the proposed wastewater treatment plant.

*It should be noted that this post is not intended as endorsement of either side of this issue, it is simply intended to highlight a very current and ongoing local development issue.

Well-Qualified Or Over-Confident Buyers?

Mon, 11 Aug 2008 13:33:28 -0500

Are some buyers superbly well-qualified or dangerously over-confident? Well, could be either one but it's difficult to know when the buyer has decided on their own what financing they can obtain.

It's a normal question to ask a potential buyer: "Have you been in touch with a mortgage professional?" The response to that can sometimes be quite interesting. I've heard on more than one occasion lately: "No, but I don't see any problem qualifying for a mortgage". I especially like what comes after "No", as though that removes any need to contact a mortgage professional until they find the right house and want to make an offer.

You can tell me that you have $3 million in the bank, no monthly debt obligations and haven't had a late payment ever, but if you're going to be financing a home purchase, I'm still gonna have you consult with a mortgage professional.

It's not to insult you, and it's not that I don't believe you. It IS about helping you as a buyer obtain the strongest position possible and part of that is knowing a realistic price range that we have to work with.

I've been a buyer myself more than once and wouldn't even think of seriously looking at homes without knowing what I could realistically afford and expect to finance. Nor would I want to fall in love with a house only to learn it's outside of what a mortgage lender would let me borrow. Sure, I could go look at any price range I felt like, but I prefer reality to fantasy. Dreaming up what price range I want to look at isn't going to get me very far when it comes to actually purchasing.

The fact is, the mortgage landscape has changed. This isn't a commentary on the state of the lending industry simply a fact. Loan programs and standards that were available even months ago are gone, no longer available. The lending industry hasn't been relaxing what they require from buyers, they've been tightening their requirements.

For a buyer who hasn't purchased a home in a year, two, or more, the process and ease of obtaining a mortgage may be vastly different from their last experience with purchasing.

If you're considering buying a home in the near future, the time to talk with a mortgage professional is BEFORE you decide on what price range to search. It's absolutely crucial to have a realistic idea of what price point and loan program you'll qualify for and if there are any credit issues, debt issues, potential pitfalls that would make successfully obtaining a mortgage more challenging for you.

Then there's the added benefits of:

-Knowing that a lender's equally as confident as you are that you're a well-qualified buyer

-Being able to show a seller you're serious and not just "wishing and hoping" you can buy

-Stronger negotiating position when you do find the right house

-Avoiding disappointment and frustration when you find out what you really qualify for

-Having the ability to find a house to match the financing instead of the other way around

Unless you'll be buying the house with cash, the lender's opinion does matter and can save you a lot of heartache down the road. More than any other home search criteria, the realistic amount a buyer can finance or pay cash for is not optional. Whatever your realistic price range is, it's the one criteria that we can't change.

Confidence isn't a bad thing, it just means a lot more when you and the lender are both confident that you're a qualified home buyer, whether that's now or will take some time to work on getting you there.

"Presenting" An Offer Has Nothing To Do With Fax or E-mail

Fri, 27 Jun 2008 13:38:32 -0500

The presentation of an offer to purchase property is a crucial part of the offer and negotiation process. It's the opening of a communication between buyers who have decided they've found the right house and the sellers of that house. (Important note: bank/reo/corporate owned properties have unique considerations and are not the subject of this post).

Pretty important step in the process. If it were as easy as sending in an offer to a computer or machine and waiting for an automated response, perhaps the presentation piece wouldn't matter. But, when human beings are involved, the presentation of a buyer's offer is absolutely critical.

Faxing, e-mailing or physically providing the offer is how it's delivered to the other party, that is not the presentation of that offer. Delivering the offer simply gets it to the other party. Presenting the offer paints a picture that the black and white words and numbers can't convey.

How strong is the buyer's financing? If closing costs are being asked for are those a must have for the buyer? Is the buyer flexible on the closing date? If the offer is for less than list price - why? (Hint: because that's the max the buyers can get financing for isn't a valid reason!) Are these first time buyers? Are the buyers prepared to adhere to the loan application and inspection dates? Are the buyers ready, willing, and able and are they sure this is the house for them? (Buyer's remorse does happen, and it's not pleasant for a seller to have a less than committed buyer)

These are all questions that sellers will have, and if a buyer's offer is simply faxed in (delivered) with no presentation, the sellers are left to assume whatever they choose. We all know what can happen when people assume, right?

Sure, getting the offer to the other party is important but the presentation of the buyer's offer can NOT be neglected or omitted in my opinion.

I'm not in any way suggesting that confidential information about a buyer be disclosed, but buyer preparedness, preferences regarding dates, and any justification for a less than full price, no contingency offer are most definitely relevant.

As a buyer's agent, are you really representing your clients fully and providing the utmost in professional service if you simply deliver an offer without presenting it? Delivering an offer to the list agent leaves the presentation of that offer solely to the list agent, and they work for the seller's best interests!!!

Home buyers: ask yourself how you would like your agent to handle your offer to purchase, and when interviewing agents, ask them how they handle it! Do you want your offer to purchase a home delivered or presented? There is indeed a difference.

Perhaps it's just my opinion, but I do believe the actual presentation of a buyer's offer is a critical and essential part of the home buying process. In other words, it's not optional based on whether or not it's convenient to me as an agent, it's my duty to represent my clients and their best interests.

Charlotte NC Home for Sale, 3825 Oakwood Rd, Minutes to Uptown!!!

Fri, 20 Jun 2008 10:52:54 -0500

This home has SOLD, 8/22/08

Ranch style home with over 1400 square feet of living space, 3 bedrooms, 2 full baths, situated on a quiet street with mature trees. Listed at $89,900, this home is a tremendous amount of house for the money and ideal as a starter home or investment property!

This adorable home features updated bathrooms, a HUGE great room open to the eat-in kitchen and a sunroom. Updates in recent years include NEW: roof, heat pump, water heater, insulated windows, plus recently updated kitchen counters.

One year home warranty included. Lots of natural light and an open layout in the main living area add to the appeal. Convenient location just minutes from Uptown Charlotte, this home is ready for new owners, come see for yourself today!

Virtual Tour: 3825 Oakwood Rd, Charlotte NC 28269, home for sale

Offered For Sale by: e2 Real Estate Team, Banks Calkins Real Estate Inc.

For more information: Diane@e2realestateteam.com or 704-516-3691

Visiting Vet in Charlotte NC

Wed, 21 May 2008 15:31:33 -0500

For pet owners relocating across town or from across the country, finding a vet in the new area is most definitely a priority and consideration.

I've recently found The Visiting Vet, and have been absolutely thrilled with both Dr. Martineau and the service she provides.

We have cats, and they don't really enjoy being packed into a carrier, driven in the car and then taken to the vet's office. They cry and shake, are overwhelmed with the foreign sights, sounds and other animals, coming home thoroughly exhausted.

I'd heard of the mobile vet services before but we never used any of them until recently. I am definitely ecstatic that we found Dr. Martineau. She's very gentle with our animals and seems to genuinely care about them. We've called her on a couple of occasions with concerns and she was readily available and willing to listen and answer our questions.

In the past we've encountered vet offices that seemed highly focused on adding additional services or products (one even offered a "tlc" package for an additional charge of course!) but I've never felt that way with Dr. Martineau. She truly seems focused on providing the appropriate care for our pets. As most pet owners know, they're not just animals, they're members of the family and Dr. Martineau really seems to understand that.

Most recently we had Dr. Martineau back for rabies shots. The cats got to stay at home, it was over in just a few minutes and they actually seemed much more relaxed than when we've previously had to take them for their shots. She even remembered to bring antibiotics for one of them, although they turned out to not be necessary. I was impressed that she remembered.

So, if you're new to the Charlotte area or if you're looking for a reliable vet service for your four legged family members, the Visiting Vet is another (in my opinion, awesome) option.

Price Is Not the Only Factor In An Offer

Fri, 16 May 2008 13:46:54 -0500

Sure, price is important when placing or receiving an offer to purchase a home, but it is most definitely not the only factor.

Our NC Offer to Purchase and Contract is currently eight pages long. Eight pages of attorney drafted, NC Bar Association and NC Association of Realtors® approved language. And that doesn't include any of the available addendums.

Seems to me, if price were the only factor in an offer, we could probably pare down those eight pages and save some trees. Thing is, price is not the only factor, and the highest offer price is not always the "best" offer for a seller.

Terms such as:

- length of time to closing

- amount buyer will be financing (more $ down looks better to sellers)

-inclusion of (or failure to provide) an actual pre-approval showing buyers have already applied and are on their way to obtaining financing

- any personal property requested by buyers (think fridge, curtains, anything not attached that buyers want)

-any seller paid closing costs

-contingency for sale of buyers house (and the status: is it listed, is it under contract, how solid is the contract?)

-buyer request for home warranty (if one has not already been purchased by seller)

-deadline by which buyer must have financing secure

-deadline for buyer's inspections to be complete

-and of course, the purchase price

Buyers: understand that price is a crucial part of your offer, but all of the terms as a package will determine how attractive it is to the seller. In other words lowballing and then asking for concessions on personal property, closing costs, date of closing, home warranty, a contingency may not go over well with sellers, when the home is priced fairly.

Sellers: Any offer comes from buyers who have their own set of circumstances that they're working with. If the offer price is fair or close to fair, and other terms are workable, you just may have a ready willing and motivated buyer on your hands. Aside from a full price cash offer, there will always be terms in the offer that may or may not work with your needs, so it's important to consider all of the offer terms.

Negotiating in real estate is not about win/lose. It's about a mutually beneficial agreement that's fair to both buyer and seller. Working out terms that meet both yours and the other party's needs, that's a win/win. Plus you'll be one step closer to moving in or moving on, and isn't that the point?

Charlotte NC Homes - Madison Park Market Activity 5.12.08

Mon, 12 May 2008 13:14:04 -0500

Since real estate is local it's helpful to compare activity on a localized basis. When considering buying or selling a home, it doesn't matter what an area across town is doing as far as sales activity. The relevant sales are in the same neighborhood.

Madison Park is a neighborhood of single family homes located between South Blvd and Park Rd, convenient to Uptown Charlotte, the new Light rail line and just minutes from South Park. Homes were built in the 1950's and 1960's.

View Larger Map

Madison Park Activity Report 5.12.08

Listing Price Range	Active Listings	Pending Listings	Conditional/Contingent Listings
Less than $200,000	3	3	1
$200,000-249,999	9	6	1
$250,000-299,999	16	1	4
$300,000-349,999	11	0	0
$350,000-399,999	1	0	0
Avg Days on Market	64	58	50

There is a wide variety of price points within Madison Park. Homes below the $200,000 threshold may need cosmetic work or updating and are sometimes located on busier streets, but the neighborhood offers options for buyers in multiple price ranges. The most active price points for listings under contract are under $300,00.
The current days on market averages are in a pretty close range for all current listings, ranging from just under to slightly more than 2 months.

For the month of April 2008, the closed listing data for Madison Park is below:

Number of Closed Listings	Closed Sales Price Range	Average Days on Market	% Sales Price Compared to List Price
6	$155,000-280,000	49	97%

Comparing this year's activity to the same timeframe in 2007:

	2007	2008
January	3	8
February	6	4
March	13	6
April	5	6
Total Closed Listings Year to Date	27	24
Avg Sales Price	$225,090	$247,158
% Sales Price/List Price	98%	97%
Average Days on Market	41	59

The biggest difference showed up in March of 2008, with a drop of 7 closed listings compared to March 2007, however each of the other months have been above or just below last year's activity pace. Average days on market have increased slightly, inching up toward the two month mark. Average sold prices have increased by 9.8% and the listings that sell are still bringing prices very close to list price at 97%.

Price, condition, features and updates continue to be key in appealing to the buyers who are still proving that Madison Park is a popular South Charlotte neighborhood.

*Statistics based on data from Carolina Multiple Listing Service Inc as of 5.12.08. Information deemed reliable but not guaranteed.