Talk the Talk Real Estate Acronyms and Abbreviations By Kristen Houston - The Powell Team
Knowing the lingo is important when buying or selling your home. Many real estate agents are so used to using acronyms in every transaction that they forget most people have no idea what they are referring to. In addition, recent federal updates to settlement and closing procedures have changed many of the standard documents. So you may hear different people you are working with {lender, real estate … (5 comments)
real estate information: USDA Rural Development Loan News - Eligibility Map Changes Postponed
- 04/07/13 04:46 AM
View RSS feed close [x] UPDATE May 30, 2014 For more that 2 years USDA has been setting and then postponing the implementation date for USDA Rural Development property eligibilty maps to change. The change is part of an effort to re-define the definition of "Rural" and when it is finally implemented it will affect almost 1/3 of North Carolina, including popular currently eligible areas such as Mooresville, Mount Holly and parts of Concord. At this time USDA Rural Development Eligibility Maps are scheduled to change on October 1, 2014. NOW is the time to act if you would like to take advantage of this wonderful loan program offering NO MONEY … (6 comments)
real estate information: Concord NC $5,000 Downpayment Assistance Program
- 02/19/11 04:28 PM
This Down Payment Assistance Program is provided through the City of Concord's Business and Neighborhood Services Division, which receives HOME Investment Partnership Funds, allocated annually through the Department of Housing and Urban Development (HUD). Home buyers can receive a depreciating loan of up to $5,000 to put towards their down payment, prepaids, or closing costs. Applicants of this program must be a first-time homebuyer and have annual incomes that do not exceed eighty-percent (80%) of the median income of the area. If you haven't owned a home in the past 3 years, you are considered a 1st time home buyer for the purposes … (3 comments)
real estate information: When a Buyer Changes From Conventional Financing to FHA or VA... AFTER CONTRACT
- 05/14/09 09:32 AM
Recently I became aware of a real estate transaction where the Buyer decided to change from Conventional Financing to VA Financing, after the effective date of the contract. This Buyer didn't ask the Seller to contribute toward their closing costs. The Buyer decided that they wanted to get a VA loan, so their agent sent the FHA/VA Addendum to the Seller's agent requesting the Seller's signatures. Here's the problem... VA loans prohibit Buyers from paying certain types of fees that are often charged by lenders, escrow companies, settlement agents, and title companies. They are called "non-allowable" fees. They still get charged anyway, but Buyers are "not allowed" … (2 comments)
real estate information: Chinese Drywall... What You Should Know
- 05/09/09 01:11 PM
Chinese Drywall is a hot topic in the real estate business right now. Concerns about this product have been in the news and several government agencies are conducting investigations, including the CPSC (Consumer Product Safety Commission) and the EPA (Environmental Protection Agency). Although a majority of the affected homes seem to be in Florida, the presense of drywall imported from China has been reported (but not yet confirmed) in 41 states. Many of the affected homes were built in 2006 to 2007, when an unprecedented increase in new construction occurred in part due to the hurricanes of 2004 and 2005. However, any home built or remodeled from 2001 to … (5 comments)
real estate information: Mt. Pleasant NC - Small Town Living Near Charlotte's Big City Amenities
- 04/19/09 03:24 AM
Visit the Town of Mount Pleasant Website The town of Mt. Pleasant North Carolina, in the eastern part of Cabarrus County, is located 8 miles E of Concord, NC (center to center) and 25 miles NE of Charlotte, NC. I know many Mount Pleasant residents who wouldn't want to live anywhere else, because they enjoy the slower paced rural lifestyle and the close knit nature of their small town... within a 30 minute drive of North Charlotte and big city conveniences. The real estate market remains strong in Mt. Pleasant, because so many residents live there long term... therefore the demand for homes in Mt. … (1 comments)
real estate information: Harrisburg NC Home Owners Facing Foreclosure - A Short Sale Might Be An Option
- 04/14/09 03:06 PM
Do you live in Harrisburg North Carolina or the surrounding area and need to sell your home NOW to avoid foreclosure? But, due to current real estate market conditions you won't be able to sell it for a high enough price to pay off your mortgage(s), the Realtor's listing commission and other seller fees? Well, you aren't alone! Unfortunately, owners in Harrisburg North Carolina and across the country are finding that their home's current market value is less than they paid for it. Even more tragically, the value of their home is less than the loan payoff. They always heard that home values … (0 comments)
real estate information: Donald Trump says "Buy Real Estate"
- 04/14/09 02:46 PM
For months now, real estate professionals have been advising their clients to buy real estate. We tell them that "Real Estate prices are low", "Inventories are high", and"Mortgage Rates are the lowest in history". But if Donald Trump were to say the same thing, perhaps more people would listen. That is exactly what he did, according to this article from ABC News. Check it out and let me know what you think! … (0 comments)
real estate information: Charlotte NC - #3 on Forbes List of "10 Cities Where Americans Are Relocating"
- 04/12/09 09:51 AM
Even amidst a severe recession and soaring unemployment rates, Charlotte NC is still one of the hottest real estate markets in the country... partially because of its continued influx of new residents. Recently Forbes.com released a list of "10 Cities Where Americans Are Relocating". According to their information, Charlotte NC is the 3rd fastest growing Metro area in the country... with a population growth of 3.36% to 1.7 million. Since there is a wide selection of available homes on the market with many available at bargain prices, interest rates are near all time lows, and the government is offering an $8000 first time … (2 comments)
real estate information: Charlotte NC Area - Experienced Short Sale Realtor - FREE Help for Homeowners
- 04/11/09 03:18 PM
What is a short sale? A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan. I am a Charlotte North Carolina area Realtor, who specializes in negotiating with mortgage companies on behalf of homeowners who owe their lender more than the current value of their home and are experiencing a financial hardship, requiring immediate sale of their home. This process is commonly referred to as a "short sale". Here are some FAQs and basic information about Short Sales: • Do I qualify for a short … (0 comments)
real estate information: Radon in Granite Countertops?
- 11/11/08 10:08 AM
Have you heard about this issue? One of my favorite home inspectors sent me an email about the subject and I thought that all of you would want to know about it too! Evidently, granite counter-tops have the potential to be the source of elevated radon levels. Some home-buyers and homeowners, who have heard this story, are concerned about possible health hazards for their families. But what is the real risk? Granite is a natural mineral that is mined and used to produce various building products, such as counter-tops. Granite may contain varying concentrations of uranium, which produces radon gas, and therefore may contribute to … (14 comments)
NEW LISTING INFORMATION: During 10/2008 there were 154 new listings with an average list price of $246,935 - compared to 201 new listings during 10/2007 with an average list price of $198,375. UNDER CONTRACT INFORMATION: There were 92 homes under contract during 10/2008 with an average list price of $137,871 - compared to 114 under contract in 10/2007 with an average list price of $134,209. SOLD INFORMATION: There were 73 homes sold in 10/2008 … (0 comments)
real estate information: Preliminary HUD 1 - Bank Requirement for Short Sales
- 10/26/08 05:26 AM
I've had more short sale listings in 2008 than I had during my previous 6 years as a Realtor combined. Though I am thankful for the business, short sales can be VERY time consuming and are typically an exercise in frustration! Many short sale listing agents have an assistant or hire a short sale consultant to handle the bulk of the process for them, including negotiations with the bank. However, I handle the entire short sale process, for all of my listing and buyer clients, myself. I've always been a hands on kind of Realtor and I guess I support the old adage, "If you want something done … (24 comments)
If you're looking for an easy place to search for information about Public School Districts across the county www.nces.ed.gov/ccd/districtsearch is a great place to start. This site allows you to search and see detailed information for all Public School Districts within a particular state, a specific county or city, or a specific school. This website is provided by the US Department of Education and offers a lot of other information about our nation's education system as well. You may also want to check out the On Board Neighborhood Navigator School Report Website, it also provides a wealth of … (6 comments)
real estate information: Charlotte NC Area, Carolina Multiple Listing Service (CMLS)- Guidance for Short Sale Listings
- 10/25/08 04:23 PM
Recently the Charlotte NC area MLS, Carolina Multiple Listing Service (CMLS), provide guidance to their members regarding the rules and regulations governing short sale listings. Currenty there are many short sale listings in the CMLS, therefore this is a very timely issue to its Realtor members. Many times the seller's lender will approve a short sale of a property with a condition that the listing commission be reduced to a lower percentage rate than agreed to by the seller in the listing agreement and therefore shown on the MLS. This issue has caused disagreements between listing firms and firms representing buyers … (0 comments)
real estate information: 5678 Stafford Road - Brookdale Village Townhomes in Harrisburg - Charlotte NC 28215
- 10/19/08 10:41 AM
Brand new ALL BRICK townhome located in Harrisburg NC is READY TO CUSTOMIZE & Select Upgrades! 2 Spacious Master Bedrooms 2 Full Private Master Baths that include dual vanity, garden tub & walk-in closet Half Bath on main level Open Floor Plan Great room with gas fireplace Large Kitchen with raised bar, includes range, built in microwave & dishwasher - pantry - 42" upper cabinets Formal dining room One car rear load garage Screened in back porch Great schools and low Cabarrus County/Harrisburg taxes Convenient to I-485 UNCC, CPCC, Concord Mills and much more! Offered at $153,900
real estate information: Mooresville NC Home Owners Facing Foreclosure - A Short Sale Might Be An Option
- 10/19/08 10:24 AM
Do you live in Mooresville North Carolina or the surrounding area and need to sell your home NOW to avoid foreclosure? But, due to current real estate market conditions you won't be able to sell it for a high enough price to pay off your mortgage(s), the Realtor's listing commission and other seller fees? Well, you aren't alone! Unfortunately, owners in Mooresville North Carolina and across the country are finding that their home's current market value is less than they paid for it. Even more tragically, the value of their home is less than the loan payoff. They always heard that home values will go up over … (2 comments)
real estate information: Salisbury NC Home Owners Facing Foreclosure - A Short Sale May Be The Answer
- 10/19/08 09:01 AM
Do you live in Salisbury North Carolina or the surrounding area and need to sell your home NOW to avoid foreclosure? But, due to current real estate market conditions you won't be able to sell it for a high enough price to pay off your mortgage(s), the Realtor's listing commission and other seller fees? Well, you aren't alone! Unfortunately, owners in Salisbury North Carolina and across the country are finding that their home's current market value is less than they paid for it. Even more tragically, the value of their home is less than the loan payoff. They always heard that home values will go up over … (0 comments)
real estate information: Charlotte NC Home Owners Facing Foreclosure - Is a Short Sale the Answer?
- 10/19/08 08:51 AM
Do you live in Charlotte North Carolina or the surrounding area and need to sell your home NOW to avoid foreclosure? But, due to current real estate market conditions you won't be able to sell it for a high enough price to pay off your mortgage(s), the Realtor's listing commission and other seller fees? Well, you aren't alone! Unfortunately, owners in Charlotte North Carolina and across the country are finding that their home's current market value is less than they paid for it. Even more tragically, the value of their home is less than the loan payoff. They always heard that home values will go up over … (0 comments)
real estate information: Kannapolis NC Home Owners Facing Foreclosure - Is a Short Sale Right For You?
- 10/19/08 08:42 AM
Do you live in Kannapolis North Carolina or the surrounding area and need to sell your home NOW to avoid foreclosure? But, due to current real estate market conditions you won't be able to sell it for a high enough price to pay off your mortgage(s), the Realtor's listing commission and other seller fees? Well, you aren't alone! Unfortunately, owners in Kannapolis North Carolina and across the country are finding that their home's current market value is less than they paid for it. Even more tragically, the value of their home is less than the loan payoff. They always heard that home values will go up … (2 comments)
I provide professional real estate services to Buyers and Sellers in Greater Charlotte NC, including Concord, Harrisburg, Kannapolis, Mooresville, North Charlotte, Salisbury and surrounding areas. My specialties include: Resale Homes - New Construction - Relocation - 1st Time Buyer Programs - Investments - Foreclosures - Short Sales. I have the experience, knowledge and dedication that it takes to get the best results. Contact me anytime to discuss your real estate needs!
My buyer agent, Kristen Houston, asked me to share this on my Active Rain Blog. We hope you find this to be useful information.
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