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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 firstname.lastname@example.org
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
WinDS is an organization determined to recognize, commend, and open doors for talented, dedicated, creative, and hard-working women who wish to expand and enhance their careers. Their mission is to provide you with very practical opportunities to succeed personally and professionally in default services. Being part of this organization I was able to attend their conference in Las Vegas, Nevada. Upon arriving I had the opportunity to speak with founding memebers of WinDS and learn more about the begining of the company and how it took only 9 months to do the near-impossible. After enjoying many presentations and learning more about women and their various business experiences, I had the chance to mingle and network with other members of WinDS from all around the country. Being able to learn from these women and share stories with fellow members and speakers was a great experience. I am fortunate to be recognized by WinDS as a Charter Member and recieved a certification as a Women Owned Business by Women’s Business Enterprise National Council (WBENC).
The recent debt crisis in Greece has wreaked havoc on the markets, and many are concerned that the problems in Greece could spread to other European countries including Spain and Portugal. This has resulted in a flight to safety, as investors look to reduce risk by finding more stable investments.
One of the few positives of this crisis has been a reduction in mortgage rates (which will make it cheaper to buy Charlotte homes for sale). Nervous investors are moving to less risky investments such as securities issued by the US government. Because mortgage rates are closely correlated to government bonds, mortgage rates have declined.
So you are interested in a Charlotte home for sale, and ready to begin house hunting. But before you apply for a mortgage loan, it’s important to determine the potential cost of your home. One feature of our website is a mortgage calculator that allows homebuyers to calculate the cost of a mortgage so you can be more prepared before applying for a mortgage.
Our loan calculator enables prospective homebuyers to get an approximation of their monthly mortgage payments simply by entering basic data about your upcoming Charlotte home purchase. You can access our mortgage loan calculator to find out how much you can pay for Charlotte Homes.
If you are considering buying a home in Charlotte, now is a great time. Why? The homebuyer tax credit for first-time buyers has been extended until April 30, 2010.
What does this mean for homeowners? Here are the basics:
If you are looking at the purchase of a home in the Charlotte, NC area, it is advisable to get some expert help to secure a good deal. You wouldn’t go to a plumber for legal representation, so why not work with local expert Charlotte realtors to help you find the home of your dreams.
The general real estate market in Charlotte has seen a lot of fluctuation over the last year. Like many southeastern areas of the United States, property values have declined significantly. This has left many people “upside down” in their loans. That is why we have seen so many REO foreclosures on the market. In addition, there is a whole new issue about to hit the real estate market this year. It’s called balloon payments coming due, as well as ARM’s getting ready to change.