At the start of the whole "mortgage meltdown", Congress and the government reacted with all the deft of a bull in a china shop by eliminating programs like FHA Seller-Financed Down payment Assistance. Prior to 2008, FHA borrowers could ask the seller to pay 3% towards closing costs and an additi
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07/29/2010
This week, the New York Times ran a story of that is of interest to anyone seeking to obtain a mortgage while they are pregnant. It seems that many mortgage originators are denying loans to potential borrowers if they learn one of the borrowers is pregnant and on maternity leave. The reason they
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07/23/2010
If you have been a reader of my blog for some time, one thing you will find missing is a prediction as to what the future holds. Quite frankly, I haven't a clue what the future is for Charlotte real estate - no one does. The people that say that we will be through this in another year are wishi
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07/21/2010
June was a better than expected month for condo sales in Uptown Charlotte. In June 2009, only 15 units closed at an average sales price of $213,433 or $228.27 per square foot. This June, amidst the fear and worry over slumping sales following the end of the First Time Home Buyer Tax Credit, 18
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07/07/2010
Foreclosed single family homes (owned now by HUD or another Bank - referred to as REO's) accounted for 27.5% of the sold inventory of 657 homes in Charlotte in June. Short sale homes (pre-foreclosure, selling for less than what's owed) accounted for only 4.5%. Astounding figures when you consi
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07/07/2010
Pending home sales in Waxhaw fell by 40% in May, which is the stat that is making all the headlines. While that is disappointing, the impact of the deadline for the First Time Home Buyer Tax Credit at the end of April drove sales to record levels, which inevitably led to the May figure. In Apri
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07/03/2010
Data acquired from the CMLS 5/1/2010 - 5/31/2010The luxury real estate market has been among the hardest hit by the shift in the Charlotte real estate market since the peak of 2007. The lack of confidence in the luxury market, the high unemployment, and lack of reasonable financing caused invent
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07/02/2010
3392 Richards Xing Fort Mill, SC 29708 MLS #948425 View this home's listing Bedrooms: 4 Bathrooms: 3 1/2 Total HLA: 2400 - 2900 Parking: 2 Car Garage Type: 1.5 Story Lot Size: .18 Acres Neighborhood: Baxter Village Neighborhood Features:Swimming Pool, Club House, Tennis Courts, Walking Trails, W
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07/02/2010
Data Compiled from the PRAR 5/1/2010 - 5/31/2010 One word to describe the sales in Baxter Village when compared to the rest of the Charlotte real estate market: defiance. While many other communities in the Charlotte area have lost substantial value and experienced a slump in sales, Baxter Villa
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07/02/2010
