Tag Archives for " Charlotte Real Estate Investment "
We’ve all seen the news about big investors making their way through Charlotte buying up hundreds of properties. And if you’re like me, you were left wondering, “How can I get in on the action?”
Now that the major investment companies have all but left Charlotte, some people said it was a sign that the time to buy is behind us.
Well they’re wrong!
Forbes ranked the top 20 U.S. Cities that were the best places to invest in housing in 2014; Ranking the Charlotte-Concord-Gastonia area No. 3!
Without these big investment companies, there is more opportunity for the rest of us to still get a great price on a new home.
The most important factor now is TIME!
As with any good deal, you need to act quickly while the prices and rates are still low to get the most bang for your buck, as they say.
This ranking reviewed the top 100 metropolitan areas using US census data. These 100 cities were then ranked on four factors: Population, home prices, home value and the local job economy.
Charlotte achieved the third spot because it has high population and job growth, and relatively low home prices that are most importantly, undervalued.
All together it makes buying a home in Charlotte a relatively low-risk investment.
The key to this ranking is the price that homes would have been without the recession and other external factors.
\As long as homes prices are below this price, then the home is undervalued, and typically a good investment.
In Charlotte, homes are 15% undervalued. That’s an average savings of over $36,000!
What this really means:
Buyers: Charlotte is one of the best places to invest in the entire country. This is because of its potential for growth and improvement, along with its low priced and undervalued homes.
Whether you are buying a home for yourself or looking for an investment property, the key is to buy now while the prices and mortgage rates are still low.
As the rates and prices gradually increase, this is fewer savings in your pocket.
If you are considering investing in Charlotte this year, please leave a comment in the section below. We welcome your thoughts on why you think it’s a great deal. And if you don’t, tell us why as well.
If you are ready to get to make the next move, click here for some of best deals hitting the market now!
This week on December 19th there will be a HUD Homebuyer webinar hosted by Nancy Braun, Owner of Showcase Realty, perfect for homebuyers and investors. In this Webinar we will discuss who can purchase HUD homes and when. Myth battles fact in common misconceptions about HUD homes.
Did you know?
-HUD does not provide direct financing to buyers of HUD Homes.
-Almost anyone can buy a HUD home.
– You can purchase a HUD home at a 50% discount from the original list price if you meet certain qualifications.
-You can purchase a home with just $100 down!
We will also be discussing different investment strategies and discuss a very common “Get Rich Quick” strategy made popular by TV shows. We will also advise you on what investment properties to avoid and the realities of being an investor. You will be a LANDLORD at some point (if you want a steady income property).
Much more will be discussed at the FREE HUD Home Buyers Webinar! Attend it on Thursday December 19th at 2-3 PM! You will also receive a FREE HUD Tool Kit after the Webinar so don’t hesitate to register for the event today! https://attendee.gotowebinar.com/register/8895772902378965762
Did you miss our radio show that aired live last Sunday, November 24, 2013 at 10:30 AM? No worries, if you missed it or want to listen again you can watch the podcast available now on ITunes and coming soon to www.charlottemarketradio.com.
Our last episode discussed one common dilemma most homeowners face and this is renting versus buying, which is better? According to Mecktimes and Trulia’s statistics, buying a house is better than renting one; specifically if you live within Charlotte, North Carolina. During the summer of 2013, buying a home was actually cheaper by 44 percent than renting. The difference between both narrowed since summer of 2012, where it was 54 percent cheaper to buy than to rent.
Furthermore, by Trulia’s estimate, the mortgage rate tipping point, when renting becomes cheaper than buying, is at 13.3 percent for Charlotte. And according to Bankrate.com, the current mortgage rates are 4.12 to 4.62.
The benefits of owning a home were also presented, here are a few:
On the other hand, the downside of renting was also discussed.
For first time homebuyers, there are special lending programs you can rely on like HUD homes. If you live in Charlotte, be sure to get a certificate first from attending an 8-hour Home Buyer workshop and get up to $7,500 which you can use as down payment and closing costs.
For those who have been hurt by the economic downturn by a short sale or foreclosure; good news because you can now purchase a house in much less time because of a recent change in the rules. FHA has loosened their guidelines allowing borrowers to get a home loan in as little as 12 months after a foreclosure or short sale.
Last but not the least, the 3 most common myths of buying versus renting were also discussed, which are as follows:
Myth #1 A bigger down payment is always better
You don’t need to put 20% as down payment..
Myth # 2 You get more for your money in the suburbs
Savings from lower-cost housing often are wiped out by unexpectedly high transportation costs.
Myth #3: Renters escape property taxes
Renters don’t pay property taxes directly; any business minded landlord factors in all of their carrying costs into their rental rates so it’s like they’re paying the taxes of the landlord.
For more information and elaboration on the topics discussed, listen to our podcast.
On the next episode of our radio show, we will discuss how to get your home ready for the market. If you have any questions or clarifications, please don’t hesitate to call us at 704-440-0007. We’re always happy to answer your queries.
Come Join Us! For FREE agent sales training on HUD Homes at our South End office. Lunch provided.
* Discover the secrets to closing more HUD transactions
* Understand the selling process to maximize your results
* Learn to navigate HUDHomesStore.com
* And Much More…
Just like other holidays and important events, Halloween has evolved a lot since it started thousands of years ago. As one of the world’s oldest holidays, it has been celebrated today by more individuals from different parts of the world than ever before.
The term Halloween was originally spelled as “Hallowe’en,” which is contraction of All Hallows Eve, a term for the day before All Hallows Day, otherwise known as All Saints Day. The latter is a Catholic holiday celebrated on November 1 since the early Middle Ages where Christian saints along with martyrs are commemorated.
The history of Halloween originates in the ancient Celtic festival regarded as Samhain, a celebration of the end of the harvest season in the Gaelic culture. The ancient Gaels believed that, on October 31, there is an overlapping of the boundaries between the world of the living and the dead. At the same time, the deceased would come back to life and will cause havoc like sickness. Based on the prehistoric observance, Halloween used to mark the end of summer and the onset of winter where people celebrated it with sacrificial offerings, homage to the dead, feasts, and bonfires.
Like the Celts, the European people during that time also believed the same thing; that the spirits of the dead would came to visit the earth during Halloween. However, they feared that the spirits would hurt them or cause problems, which is why during the night they wore costumes to look like ghost and other evil creatures. They believed that by doing such, the spirits would think they’re also dead and they would remain unharmed. As the Europeans migrated to the United States, they brought such tradition with them.
“Trick or treat” entered the picture when there was an increasing number of Halloween pranks and mischief during the 1920s and 1930s. Schools and communities want to curb the increasing number of vandalism that’s why they encouraged the “trick or treat” concept. But the practice we do and see today where children wear costumes doing “trick or treat” started only during the mid-1940s.
Today, Halloween is the second most commercially successful holiday next to Christmas and is the third biggest party being celebrated yearly behind New Year as well as Super Bowl Sunday. Men and women of every age now celebrates Halloween in different ways like decorating their homes, wearing odd costumes, joining parades, and more. But we all have to remember, as long as we celebrate Halloween in a safe and happy way, then there’s no problem with celebrating it in different ways.
In order to get top dollar for your Charlotte NC home for sale, it needs to look great inside and out. Small adjustments to your home can really improve it’s curb appeal without costing you a fortune.
The infographic below has tips and quick fixes to improve the value of your home and make it more desirable to buyers. Tips below include keeping trimmed bushes and a mowed lawn to make a the best first impression possible. Quick fixes like painting over cracks in the walls and replacing old doorknobs can go a long way to make the home look well cared for and updated.
Beyond simple maintenance and repairs the infographic suggests many decorating tips to make any space feel bigger, brighter and more inviting. It even describes the effects of feng shui and colory theory techniques on a space. For example, dark narrow hallways are made to seem more spacious by hanging a mirror at the end. The color green is also a refreshing color the promotes relaxation and recuperation; consider painting the living room or master bedroom this color.
If you have a Charlotte home for sale, these tips could mean the difference between a competitive bidding war and low offers. View the rest of the tips below! Also click the image, if you’d like to view it larger.
“Will I get
a second chance?
Will the seller
counter my offer?”
1. Submit your highest and best offer as soon as possible. I am often asked, “Will I get a second chance or will the seller counter my offer?” Probably not, the Seller will likely negotiate with the best offer and reject all others. So, if you really want the home, submit your best offer up front.
2. Keep your offer clean and simple. If you don’t need closing costs paid by seller then don’t include that in your offer. Don’t ask for personal property. You can always ask for small things later, and wait for the home inspection to ask for repairs. Pay for the home warranty yourself; they are inexpensive (typically under $500) and not worth losing the house.
3. Have your agent call the Seller’s agent to ask why they are selling. Price may not be the priority; it may be speed, flexibility or a certain closing date. Unless you ask, you won’t know what the seller will consider the most acceptable offer.
4. If you are able, submit the offer not subject to it appraising. This is a volatile market and appraisals are subjective, not scientific. Without this, there is a better chance the deal won’t fall out and the seller won’t have to worry about negotiating the purchase price later. However if you plan to finance, make sure you can pay the difference of the appraised value and what you agreed to pay for the home, since your lender will only give you a loan up to the appraised amount.
5. Write a personal letter to the seller, unless the property is bank or business owned. Tell the seller why you want the home and how you will enjoy certain features.
6. Submit complete paperwork. This includes the contract, pre-approval letter and earnest money check. If possible, include a preapproval letter from a reputable lender with the property address on it. A certified check is better than a personal check for the Earnest Money Deposit, and it should be higher than the standard for your area. This shows good faith and your commitment to buy the property.
7. Your offer should be higher than the list price. It should be as much as you think the home is worth plus a few dollars. Or you can offer to pay $1,000 more than the highest offer up to a certain amount. Interest rates are low right now so this additional amount over 30 years won’t amount to much.
Use these strategies to put your best foot forward.
Our HUD Workshop, Lunchtime Review, was a great success. We had a good turnout and everyone benefitted from the hands-on nature of the class. This workshop focused on how to complete a HUD contract.
Our guest speaker for this workshop was Gary Frank of Home Warranty of America. He spoke about his company’s warranty programs and the way it can benefit both buyers and sellers. He also provided a generous amount of sandwiches and refreshments from Newk’s Express Café.
We created a scenario about Claire and Craig Chase, who were a young newlywed couple in search of their first home. They needed a home that was affordable, but that didn’t require much renovation. Purchasing a foreclosure would help them get the size of house they wanted for a price that fits their budget. They decided to look exclusively for a HUD home because of the discounts available to them. They were especially excited about the $100 dollar down program, because they didn’t have very much saved up for a down payment.
We walked the class through all the steps that they would need to take to show Claire and Craig the property, make sure they were informed on any special circumstances, a place a bid. After the bid is accepted they filled out a real contract in class.
The agents enjoyed the class and, I think they got a lot out of it. Showcase Realty holds agent classes every month. Our next agent class is September 20, from 9:30 – 11:30 a.m. It’s completely free and tickets are available now. You can register online via the button below or at http://coffeewithnancy-blog.eventbrite.com
We also hold free buyer and investor outreaches every quarter. Our next buyer outreach is October 22 from 6:00-8:00 p.m. Registration for this event will open one month before this popular event. For a complete list of all our events visit, www.showcaserealty.eventbrite.com
Enjoy the candid photos of the event below.