Tag Archives for " Charlotte Real Estate Investment "
Join us for an Open House in Stonehaven Subdivision this Saturday, December 4th!
This is a joint Open House featuring six homes in the neighborhood, Showcase Realty will be presenting 6217 Ropley Court.
We look forward to seeing you this Saturday!
For more information, please call 704-889-5600 or email firstname.lastname@example.org
To learn more about Showcase Realty’s available homes, visit http://www.showcaserealty.net/
According to Fannie Mae, they are lifting some of the holds on eviction actions and REO closings that were put in place in September 2010. The holds were placed in response to the issues of possible defects with affidavits submitted in foreclosure actions. This means the homes that were removed from the market will be placed back on the market and closings will be able to proceed over the next week as Fannie Mae works through lifting the holds.
The following are instructions for brokerages Fannie Mae has issued to inform them of the current situation and how to proceed.
“Effective November 24, 2010, Fannie Mae is issuing the following instructions for REO properties relating to all loans which were formerly serviced by GMAC, Bank of America, PNC Mortgage Corporation, JP Morgan Chase, One West Bank and Sovereign Bank in all states previously on hold:
1. Our prior guidance with respect to evictions and lockouts for each of the affected servicers remains in effect at this time.
2. Proceed with scheduling and holding the closings of Fannie Mae REO property as agreed between the parties. If a title issue arises with respect to the potential defect of an affidavit used in the underlying foreclosure, the Closing entity will identify the issue in AMN as they would any other title issue and will work with their title representative for further instructions.
3. Please reach out to all buyers that have been awaiting closing to ensure that they can now move forward. They may reschedule to an earlier date if needed. It is possible that their loan and/or closing files will need to be updated before their closing can be scheduled.
4. Please reach out to those buyers that elected to terminate their contracts to determine if still interested in purchasing the property. All details of the contact and response must be noted in AMN. We require response/update in comments within 72 hours of this notice if the buyer associated with the terminated contract wishes to re-engage.
Over the next week, impacted properties will be removed from their current “Unable to Market” status in AMN and will again be available to market.”
For more information regarding the foreclosure freeze or for help buying a home that was taken off the market due to a title defect, please click here.
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FOR IMMEDIATE RELEASE
Nancy Braun, Owner & Broker-In-Charge
Local Real Estate Brokerage Uses Foreclosures to ‘Pay It Forward’
Showcase Realty partners with the national REO4Kids effort to raise money for children’s charities through the sale of REO properties.
CHARLOTTE, NC (October 18, 2010) – Nancy Braun, Owner and Broker of Showcase Realty, LLC, has recently teamed up with REO4Kids to become one of the few brokerages across the US donating $100 to children’s charities per REO Asset she sells. In 2009 Nancy’s group donated over $200,000 and expects to donate more than $250,000 in 2010. Because foreclosures affect inner city kids more than anyone else, the group has elected to help the Boys and Girls Club of America as well as Make-a-Wish. Showcase also donates to No Paws Left Behind to help the animal victims of this foreclosure crisis.
The recent partnership of Showcase Realty with REO4Kids is not only raising money for deserving charities but also shining a positive light onto the unfortunate situation that is home foreclosure.
“This is a huge opportunity for Showcase Realty to ‘Pay it Forward’. We want to hold the torch and lead the way for other agents and brokerages to use real estate as a way to give back to their local communities as well as the larger national community in this time of economic need,” says Braun.
Braun, who has been a successful real estate agent for14 years, opened Showcase Realty in 2008. In addition to General Brokerage, the firm launched foreclosure and short sale divisions to address the surge of foreclosures, short sales and distressed properties in the real estate market.
Visit CharlotteREOBroker.com or REO4Kids.com for more information. To find out more about current REO homes Showcase Realty has to offer send an email to email@example.com
According to the Charlotte Business Journal, Charlotte-area home prices drop 3.4% and existing US home sales jump 10%.
The following are two excerpts from articles about each of these subjects:
Charlotte-area home prices drop 3.4%
“Homes prices in the Charlotte market fell 3.4 percent in August from a year earlier, according to the Standard & Poor’s/Case-Shiller Home Price Index. And August’s local prices dipped 0.4 percent from the July level, the report says.
The year-over-year price drop was the third-largest among the 10 U.S. cities that posted declines. The local downward trend runs counter to S&P/Case-Shiller’s overall national index of 20 cities, which saw a 1.7 percent price increase in August from a year ago.”
Read more: Charlotte-area home prices drop 3.4%
Existing-home sales jump 10%
“Sales of existing homes in the United States jumped in September, though they remained lower than year-ago levels.
The National Association of Realtors says sales of existing single-family houses, townhomes, condos and co-ops rose 10 percent from August to September — the biggest monthly gain in nearly 28 years.
But compared with a year ago, existing-home sales nationwide were down 19.1 percent in September.
Still, the Realtors’ group says the housing market is in the early stages of recovery.
“A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium,” says Lawrence Yun, NAR chief economist. “But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions.”
Distressed-home sales accounted for 35 percent of all sales in September, up from 34 percent in August.
Sales in the South rose 10.6 percent in September. That region includes the Carolinas but also stretches from Delaware to Florida, under the association’s reporting system.”
Read more: Existing-home sales jump 10%
For more information regarding buying or selling homes in Charlotte Metro and surrounding areas, click here.
Showcase Realty has recently acquired the honor of being one of the few brokerages able to list HUD Homes in the Charlotte, NC Metro and surrounding areas. The following is a quick helpful explanation of HUD Homes from the US Dept. of Housing and Urban Development:
What is a HUD Home?
A HUD Home may be a single-family house, a townhome, condominium or other type of residence. The properties were deeded to HUD/FHA by mortgage companies who had foreclosed on FHA-insured mortgage loans. Now HUD must sell these homes – as quickly as possible at market value – in order to obtain the maximum financial return on its mortgage insurance funds.
Who can buy a HUD Home?
Anyone who has the money or can qualify for the necessary amount of mortgage financing can purchase a HUD Home. You do not have to be low-incomeor meet any other auch limitations.
Can I get a HUD Home for free, or for one dollar?
No. HUD acquires its properties through the foreclosure of FHA insured mortgages. One of HUD’s many missions is to maximize return to the FHA insurance fund, which it does by selling the properties at fair market value.
How do I buy a HUD Home?
HUD’s policy is to market acquired properties on a competitive basis with offers being submitted through any participating licensed real estate broker. Local brokers will assist you in the transaction. They can show the property to prospective buyers, as well as answer questions and provide information on the location of parks, schools, shopping and employment centers.
Are HUD Homes meant for low income people?
HUD Homes come in a variety of price ranges, though most are affordably priced, making them accessible to low and moderate income Americans.
What are the income requirements?
If you make a cash purchase, there are no income requirements. Otherwise, you must be able to qualify for a particular type of mortgage financing based on established mortgage lending criteria.
How does HUD decide how much to charge for a HUD Home?
THe listing price of a HUD property is a price based on the appraised value.
Can investors purchase HUD Homes?
Yes. However, HUD offers its properties to owner/occupants for a period before making them available to investors.
What happens if I can’t close the sale within the time permitted by HUD?
You’ll probably have to pay fees for an extension of time, usually in increments of 15 days.
Is there any way for me to get advanced notice about homes that will be coming up for sale?
No. HUD Homes are listed for sale in the local multilple listing service (MLS), the Internet at www.hud.gov or ask your broker.
Since the partnership is still very new, Showcase Realty’s HUD Homes have not become available on MLS yet – but will be very soon. Keep checking back to see when they will be listed or keep an eye on our website.
With the expiration of the tax credit, home sales have been dropping sharply around the nation. Experts reported that “Completed transactions of single-family homes, townhouses, condominiums and co-ops dropped 25.5 percent in July from the year-earlier total, falling to the lowest level since 1999.” Smart investors stand to make a killing during this economic downturn. With sellers experiencing pressures to move and increasing number of foreclosures, especially in the Charlotte area, homes are being sold far below tax values. It is the perfect time to explore REO properties and start bidding!
To read more about about this topic click here
Mortgage rates continue to decline, and now could be an optimal time to consider buying Charlotte homes, or a Charlotte real estate investment property. The latest data from Zillow Mortgage Rate Ticker indicates that mortgage rates remain steady at 4.84% for a 30 year fixed loan.
Yet, even though rates are low, it is critical to do your mortgage research. We were particularly surprised by a recent Zillow study that indicates mortgage borrowers spend the same amount of time researching and shopping around for a mortgage as they did researching the purchase of a computer or a vacation. Even more surprising was a finding that borrowers spend 50% less time researching a mortgage than they do researching a car purchase. But the average Charlotte home loan costs 5 times as much as the average car, and 80 times as much as the average vacation.
Its critical to do your mortgage research before buying Charlotte homes. By not fully understanding a home loan, you leave yourself open to significant risk and price differentiation. Small differences in the interest rates can result in savings or losses of several thousands or even tens of thousands of dollars in the purchase of a home.
If someone told you that you could buy a home with little money down, would you believe them? Perhaps you should reconsider. Buying a home with little money down can be a possibility with some help and a little planning. Here are some options to consider:
1) Buying a home with a “seller carry back” is a popular option. The trick is to find a home with an assumable loan. You would ask the owner to carry a second mortgage on the home, equal to the equity. In this scenario, you could get in for very little money.