Tag Archives for " Charlotte Realtors "
All of the agents and staff here at Showcase Realty are very excited to introduce our brand new website! Same url: www.showcaserealty.net but different layout!
We hope to add to it as we go and continue to supply all of the viewers with as much information as possible to help make your buying or selling journey a successful and smooth process. Please feel free to check it out and look around.
If you were signed up for a listing alert you will need to sign back up through the new site – and if you weren’t signed up for a listing alert this is the perfect time to do so! You will get email updates on new properties according to your search criteria, you can save your searches and mark favorite listings.
So go ahead and take a look: www.ShowcaseRealty.net
We look forward to sharing our information with you!
According to an article published on February 1, 2011 in DSNews, a study done by Movoto.com, a real estate site based in California, more than half of American families can afford to buy a new home based on income levels and listing prices. The following is an excerpt from the article which gives insight on the reasoning behind this statistic:
“While the site’s user search statistics show high interest in affordable price ranges, the company says buyers find it difficult to purchase short sales and foreclosures and banks are still reluctant to lend.
With 2010’s median family income at $64,400, at least 50 percent of families could afford to buy a home priced at $150,000 or higher, according to Movoto.com.
A person with an annual salary of $64,400 could reasonably afford a $215,000 home with a 5 percent down payment, an interest rate of 5 percent on a 30 year mortgage, and property taxes at 1.25 percent, assuming a monthly mortgage payment to monthly income ratio rate of 25 percent, the company explained in a statement.
However, these numbers do not add up to more home sales.
‘According to the numbers, buyer interest, affordability, and home price inventory have aligned,’ said Henry Shao, CEO of Movoto. ‘Median income levels can support mortgages at the most readily available housing prices, but we have yet to see a corresponding jump in sales.'”
According to a report released by Credit Suisse on January 6, 2011 demand in the Charlotte home market remains weak as buyers fear further price declines. Charlotte, NC is the 13th largest market in the country. The following are quotes directly from the December 2010 report for the Charlotte, NC real estate market:
“Buyer traffic remained at weak levels well below agents’ expectations in December, as our traffic index fell slightly to 20 from 21 in December (readings below 50 point to traffic levels below agents expectations). Agents said that there was little change to speak of in December relative to November, as buyers remain fearful and are willing to wait on the sidelines until more concrete signs of a bottom emerge. Another agent also said that the recent spike in mortgage rates has started to hurt.
Prices continue to fall. Home prices fell further in December, as our home price index
improved to 17 from 7 in November, but remained far below a neutral reading of 50 (any
reading below 50 indicates lower home prices over the past 30 days). Prices continue to
come under pressure as a result of the weak demand and elevated inventory levels,
especially as distressed properties continue to come back to market. Inventory appeared
stable in December, as our home listings index improved to 46 from 43 in November,
essentially in-line with a neutral level of 50. However, the length of time needed to sell a
home increased further, reflecting the weakness in demand, as our time to sell index came
in at 18 in December (from 11 in November), with readings below 50 indicating a longer
time needed to sell a home over the past month. The longer time to sell is typically a
negative leading indicator for home prices.”
If you or someone you know are looking for a home in the Charlotte Metro and surrounding areas, click here.
For more information on Credit Suisse, click here.
From everyone here at Showcase Realty, we are sending you our warmest wishes during this holiday season!
Have a wonderful and safe time as you finish 2010, and may the start of 2011 be even better.
Thank you for your continuing support and keep following us in the new year. We have bigger and better plans for 2011 so be on the look-out!
Thank you again,
Showcase Realty Staff & Agents
HGTV is looking for fun, high-energy, enthusiastic people in Charlotte NC who are selling their first place! Singles, couples and families selling homes of all kinds are all invited and encouraged to apply.
My First Sale is kicking off its THIRD season, focusing on the trials and tribulations of preparing to sell, pricing/marketing, and ultimately selling your first place. We’re looking for fun and interesting people who are willing to share their personal and financial struggles during the home-selling process.
We’ll follow you for approximately 15 shoot days over the course of the process of selling your home. This real estate rollercoaster could include some of the more stressful days of your life, so if this sounds like fun, please apply! A modest thank you check for the featured seller(s) and their agent will be awarded. You’ll also receive a DVD copy of your episode, giving you a lasting memory of the process.
If you are a first-time home seller in the Charlotte, NC are or thinking about selling soon, give Showcase Realty a call or email and we can help you! There is an applicatin process for the show so hurry and contact us before casting is over in a couple weeks!
Homes sold without the help of a real estate professional dropped to a record low over the past year. According to the 2010 NAR Profile of Home Buyers and Sellers, unrepresented sellers made up only 11 percent of the market, down from 13 percent in
Owners who sell their home without the help of an agent usually sell to someone they already know. Factoring out those private sales, the actual number of homes sold on the
open market without professional assistance was a record low 5 percent, compared to 10 percent in 2004.
With the higher rate of foreclosed and short sale properties on the market currently, buyers need to use a certified Realtor to help navigate through a sale or purchase. It is not out of the ordinary for many Realtors to be unfamiliar with the process, and this can make the real estate journey a lot harder for the buyer.
Finding a Realtor that can assist you and your needs is the best way to find a home or have your property sold in a timely manner.
For help with this process you can contact Showcase Realty by clicking here to get started on your way to selling or purchasing a property.
The election is over and so is the need to keep interest rates artificially low. If we absorb the pain now, we’ll be less likely to remember it during the 2012 election. Don’t wait! Rates are rising!
Interest Rate Roundup for Dec. 2, 2010 from Bankrate.com
4.71% (30-year fixed)
0.36 (average points)
Here’s a look at the state of mortgage rates from Bankrate.com’s weekly national survey of large banks and thrifts conducted Dec. 1, 2010.
Mortgage products took a sharp leap upward this week, with the 15- and 30-year home loans rising significantly amid signs that the U.S. economic recovery may also be gathering strength.
The 30-year fixed rate mortgage shot up 13 basis points, to 4.71 percent, its highest level since last summer. A basis point is one-hundredth of 1 percent.
The story was much the same for 15-year fixed rate mortgages, although their ascent was not as steep, climbing 10 basis points to 4.07 percent.
The rises were more moderate for adjustable-rate mortgages. The popular 5/1 ARM rose 8 basis points, settling at 3.74 percent. With a 5/1 ARM, a mortgage has a fixed rate for the first five years, and is adjusted annually — based on market conditions — for the remainder of the loan’s term.
It was the highest rate for 30-year mortgages since July. Bankrate’s July 21 national survey found an average rate of 4.74 percent, after which home loans began a descent that lasted until early November and brought mortgages to record low rates.
Although it is difficult to establish a direct relationship — and the housing market remains troubled by virtually every measure — the strengthening of mortgage rates is occurring as the tepid economic recovery is also gaining momentum.
On Wednesday, the Institute for Supply Management, which tracks manufacturing industries, said factory output has now risen for 16 months in a row. In addition, a Federal Reserve survey found that 10 of its 12 regions are seeing economic expansion, while the other two — St. Louis and Philadelphia — have mixed conditions.
The economic indicator most relevant to housing, however, is unemployment. The country will get an indication of whether the labor market is recovering on Friday, when the government releases figures for unemployment and job creation for the month of November.
Find out monthly mortgage payments using Bankrate’s mortgage calculator.
— Gregg Fields
To take advantage of low mortgage rates and low interest rates while you can, contact a Realtor who can help you! Click here.
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 email@example.com
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.
Charlotte is the 18th-largest city in the United States, according to a projections based on the latest U.S. Census data.
The Charlotte area has 729,781 residents as of Monday, up from 569,858 in 2000, according to projections compiled by Business First of Buffalo, N.Y. Business First is a sister publication of the Charlotte Business Journal.
The population projections are generated by a computer formula the publication developed in 2000 and recalibrates annually. The formula uses a decade of U.S. Census Bureau data to extrapolate growth trends.
Thinking about relocating to Charlotte, NC? Click here for information regarding affordable homes in the area!