real estate news: Top 10 Cities to Buy a Home Right Now
- 02/19/10 07:16 AM
Forbes magazine recently released their 10 best cities in which to buy a home right now. To determine what cities are smart buys, Forbes computed the premium of home ownership and where economists predict that home prices will go up the most over the next five years.
The premium of home ownership is the difference between what you would spend to rent and what you would pay for a mortgage. This is important because in the long run, you could save in a huge way by purchasing a home now, particularly while the home buyer tax credit is still … (1 comments)
real estate news: Charlotte, NC Market Report for January
- 02/10/10 07:07 AM
Listed below is the residential real estate market summary for the Charlotte area for the period January 6, 2010 through February 5, 2010: Sold: 1,364; avg. LP $229,214; avg. SP $200,592; %LP/SP 87.51% New Listings: 5,571; avg. price $276,787 Under Contract: 1,833; avg. price $218,182 Withdrawn: 1,548; avg. price $321,976 Expired Listings: 1,303 ; avg. price $306,539 Active Listings: 23,225; avg. price $296,826 The number of closed residential transactions fell 10.7% in January compared to December, but increased 8.4% over that for January a year ago. Contracts written for the month increased a surprising 25% over prior month, indicating … (0 comments)
The number of homes sold during the month of December fell 23.7% compared to November, but was 13.1% above that for December, 2008.
Last month’s sales numbers are a dramatic change from 2 … (1 comments)
real estate news: ALERT: Real Estate Scam, Dr. Yang Wants a $1M House!
- 12/18/09 03:03 AM
BEWARE OF THIS EMAIL SCAM! I received the following email yesterday: "Dear Sir/Madam, I am Dr. Yang Hua Marcello The Retering president of Hangzhou Iron & Steel Group Company, China. I am currently looking to buy a house in any nice neighborhood. I am currently looking to buy a four (4) to six bed rooms house with the price ranging from $500,000.00USD to $1,000,000.00USD and I would want to retain your lawyer in all the process buying the property e.g. documentation and payment. Please if you have properties with similar description please contact me as soon as possible so that we … (93 comments)
real estate news: Rock Hill Named Best City to Raise Kids
- 12/07/09 07:43 AM
Rock Hill is the best place to raise kids in South Carolina for the second straight year according to Business Week magazine. Rock Hill is only 20 miles south of Charlotte, and has warm weather and some of the best public schools in the state. Rock Hill is also home to Winthrop University, a four-year liberal arts college that was ranked the eighth-best public university in the Southeast by U.S. News & World Report in 2006. Affordable, safe, and family-friendly are the key words to describe the criteria that was used to select Business Weeks’ picks for top cities in … (1 comments)
real estate news: Simplifying the Home Buyer Tax Credit
- 11/27/09 02:35 AM
Earlier this month President Obama signed a bill extending the first time home buyers $8,000 tax rebate. Included in that bill is an expansion of the original plan to include existing homeowners. The expansion provides a $6,500 tax rebate for qualified buyers who already own their home. Both tax credits will be in effect until April 30, 2010. These provisions offer a tremendous opportunity for first time home buyers and certain existing homeowners to buy a home before the April deadline. "The only thing I would say is that if history teaches us any lessons we should move forward sooner rather … (0 comments)
real estate news: Homebuyer Tax Credit to be Extended and Expanded!
- 11/05/09 10:15 AM
Earlier this week, the U.S. Senate unanimously passed an extension and expansion of the homebuyer tax credit. This morning, the House of Representatives approved the agreement reached in the Senate by a vote of 403-12. The bill has now passed both chambers and is awaiting the President’s signature, which could be as early as tomorrow!
Below is a summary of the new modifications in the extension and expansion of the tax credit:
1) The $8,000 tax credit will be extended and available for first-time purchases before May 1, 2010.
2) A new $6,500 tax credit … (1 comments)
real estate news: Charlotte Market Data, September 2009
- 10/09/09 06:47 AM
Here are the market statistics for the Charlotte area for single family residential home sales for the period September 6, 2009 through October 5, 2009:
The number of homes sold during the month of September fell 12.4% compared to August and 13.1% below the level of home sales for September a year ago. Average listing price for sold … (0 comments)
real estate news: The Inspection and The Warranty: 2 Lessons Learned
- 10/05/09 05:54 AM
Home warranties have become so commonplace in real estate transactions that we sometimes take them for granted. They are a fact of life in just about every contract that is written these days. For example, most Realtors advise buyers to write it into their Offer to Purchase regardless of the age of the home. That's because all homes come with the obvious potential of failures and breakdowns that may come into play in the future. Even new homes are prone to have defects which are sometimes overlooked by the builder, as well as, the building inspector. A recent sale brings into … (1 comments)
real estate news: U.S. Foreclosure Rate Down in August
- 09/17/09 03:50 AM
A recent RealtyTrac report shows that substantially fewer people had their homes repossessed in August. A total of 76,134 troubled borrowers lost their homes in August, down 12.7% from July. According to the report, there are a couple of possible explanations for the decline in bank repossessions, or REO's. It could be that the government-led mortgage modification programs are finally gaining some traction. But it could also be that the banks are still delaying repossessions of these properties. Because banks take big losses on REOs, they may leave delinquent borrowers in their homes for an extended period of time, especially where lenders already … (1 comments)
real estate news: August Real Estate Report
- 09/10/09 02:56 AM
Here are the market statistics for entire Carolina MLS area for single family residential home sales covering the period August 6, 2009 through September 5, 2009:
Closed transactions for the month of August remained relatively unchanged from July with a dip of 1.7% in average listing price and average sales price, respectively. The resulting percent of listing price … (0 comments)
Closings for the month of July increased 9.8% over June, but remain 18.3% below the number of closed transactions for July, 2008. The comparison of the figures for June 2008/2009 indicated a deficit of 25%. The … (0 comments)
real estate news: June Residential Sales Report
- 07/10/09 04:27 AM
Listed below are the statics for entire Carolina Multiple Listing Service area for single-family residential sales for the period June 6, 2009 through July 5, 2009:
Closing transactions increased 5.9% for the month of June compared to May, but remain 25% below the level for the same period a year ago. The average listing price also was up … (0 comments)
real estate news: Are Higher Mortgage Rates Slowing Housing Recovery?
- 06/17/09 08:29 AM
Mortgage rates once again surged upwards. The Mortgage Bankers Association's Loan Application survey this week said that demand for home loans in the first week of June fell 7.2% compared to the previous week, as the average rate for a 30-year mortgage shot up 32 basis points to 5.57%. This is only the second consecutive week that average rates have exceeded 5.00%, but already they are at their highest level since November. With mortgage rates at historic lows in recent months, demand for homes had been increasing and many analysts said there were signs of stabilization in the housing market. Rising … (0 comments)
real estate news: Cornelius, Fort Mill Make Top 10 List
- 03/30/09 05:23 AM
Business Week has just released their list of America's Top 10 Affordable Suburbs. Among the top 10 are 2 Charlotte area communities that have long become synonymous with affordable housing, great lifestyle, and easy access to Charlotte and it's many activities. Cornelius, located 30 miiles north of Charlotte on the shores of Lake Norman, was listed at number 7, and Fort Mill, just 22 minutes south of the city across the South Carolina border, came in at number 10. These two great towns are recognized for their cost of living, lifestyle, schools, and the strength of their local economies. Business Week evaluated … (0 comments)
real estate news: Research Grants Bolster UNC Charlotte's Center for Real Estate
- 03/07/07 02:43 AM
Funds to support practical regional development strategies The Center for Real Estate at The University of North Carolina at Charlotte has received grants to fund two research projects aimed toward streamlining the Charlotte region's planning and development. The first project, funded by the Crosland Foundation, is titled "Applying Tax Increment Financing (TIF) in the Charlotte Region," which the Center for Real Estate will conduct jointly with the UNC Charlotte Urban Institute. In 2004, North Carolina voters approved an amendment to the state constitution giving local government the ability to issue TIF (termed "self-financing bonds" in North Carolina), for economic development purposes. … (0 comments)
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Forbes magazine recently released their 10 best cities in which to buy a home right now. To determine what cities are smart buys, Forbes computed the premium of home ownership and where economists predict that home prices will go up the most over the next five years. 
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