Archive for February, 2008
Charlotte NC|Buying a New Home? 10 Essential Do's and Don'ts of the New Home Purchase, Doubly True in This Market
February 28th, 2008 Categories: Buy A Charlotte Home
By Terry McDonald
Purchasing a new home is challenging in any market and these 10 rules will help you buy a new home wisely in any market, but they are doubly important when buying a new home in 2008. I am a former New Home sales rep, former builder and veteran real estate broker… I know these guys and how they work, plus I’ve helped dozens of new home purchasers buy their new home here in Charlotte…
1. The #1 Rule of real estate, Location Location Location? Trite but true… but guess what? The #1 Rule for being happy with your decision 6 months or a year later? Location, location location… talk to folks about areas and neighborhoods, drive out and visit for yourself. Are you from out of town? Try and get a hotel in the area you are considering moving to. Decide on your area or areas first- and do not stray too far. In almost every case, straying is a mistake, even if it looks like “too good a deal to pass up.”
If it is not where you want to be, where it makes sense for your life, then a great deal on a house today will still be a bad deal on your house tomorrow, or 6 months from tomorrow.
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Huntersville, NC| Huntersville Homes for Sale Report
February 27th, 2008 Categories: Buy A Charlotte Home, Lake Norman real estate
Huntersville, 15 miles north of Charlotte, grows with the Queen City
In 1990, there were approximately 3,000 people who called Huntersville home, it was mostly a farming community. Since then, Huntersville has exploded, with nearly 38,000 people living in Huntersville in 2007. Along the way, it has been repeatedly named one of America’s Best City’s to live in by Money Magazine. Located about a twenty-five minutes north of downtown Charlotte and 5- 10 minutes from Lake Norman the town of Huntersville has something to offer for everyone.
The Historic Latta Plantation has over 1,200 acres of hiking, horseback riding, biking trails and historic sites. Area attractions include the Huntersville Family and Fitness Aquatics Center (HFFA). The HFFA provides an Olympic size pool, a warm water rec pool, a full court gym, large fitness center and much more. For the shopper in you there is Birkdale Village, Rosedale or Northcross Shopping Center at Exit 25. NorthLake Mall opened in 2006, just 10 minutes from Huntersville. Birkdale village is pictured below
Homes for sale in Huntersville, NC
There are 85 homes for sale for less than $200,000.
There are 210 homes for sale for less than $300,000, but more than $200k.
There are 129 homes for sale for less than $400,000, but more than $300k.
There are 68 homes for sale for less than $500,000, but more than $400k.
There are 74 homes for sale for less than $1,000,000, but more than $500k.
There are 16 homes for sale for more than $1,000,000.
For those of you interested in finding the home for you in Huntersville please click on the link and type Huntersville in the city search field: Search the Charlotte-Huntersville MLS
For those of you who would like to see more pictures of the Lower Lake Norman area, visit my Lower Lake- Huntersville-Davidson-Cornelius Photo Gallery, or for questions call me, Terry, direct at 704-351-1519.
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Charlotte NC|South Charlotte Homes For Sale and Appreciation Report
February 24th, 2008 Categories: south charlotte
Homes for Sale and Appreciation Report in Charlotte NC, South Charlotte Communities: Providence Plantation, Beverly Crest, Hembstead, Berkeley, Providence Country Club, Ballantyne Country Club
These south Charlotte neighborhoods are popular “move to” locations and begin in the south about Pineville-Matthews road and make their way further south, the only exception is Beverly Crest which is just North of Rt 51, Pineville-Matthews Road. They are all popular with folks moving to Charlotte- you’ll find many transplanted New Yorkers, Californians, mid-westerners, and Floridians, and about 30 other states… The public high schools here are the well regarded Providence High School and Ardrey Kell High School. Check their test scores here. All appreciation numbers were calculated as follows: determine the average cost per square foot of sold properties for the last 12 months from the Carolina MLS, and compare it to the sold data of the prior 3 years. All of the photos are links to my photo galleries of the neighborhoods. Starting from closest to Charlotte:
Beverly Crest (zip 28270) Home Sale and Appreciation Report
There are a total of 14 homes for sale today, after selling 35 homes in the last year. Appreciation 1yr 5.9%-3yr 16%
There are:
2 homes for sale under $300,000
5 homes for sale under $400,000, but >$300K
7 homes for sale under $500,000, but > $400k
Beverly Crest, the only community inside of Rt 51, Pineville- Matthews Road has 4 communities inside and townhouses and a child care center at one of the two main entrances. Arts and crafts style house are the norm.
Read the rest of this entry »
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Charlotte, NC|Adjustable Rate Mortgages are NOT EVIL! Ask-The-Broker
February 22nd, 2008 Categories: FAQs About Charlotte
Adjustable Loans Are Scary! Not! Fixed or Adjustable? You Decide
by Olan Carder
Have you ever overreacted? I mean really thrown the baby out with the bath water?? I have many times. My business partner Gary and I laugh sometimes about some of the ridiculous ideas we have come up with in the past to solve horrifying problems that didn’t even exist.
The mortgage industry has been turned upside down over the past year, and there has been plenty of overreacting! The news media has been like a pit bull locked onto a juicy new bone. Negative stories are the norm, and they have thrown
several babies out with the proverbial bath water. One of these babies is the Adjustable Rate Mortgage product. These loans have been demonized as a slick gimmick used by unscrupulous lenders to trick people into high priced homes they could not afford. NOT TRUE! (That is not Gary on the right.:))
Although ARM (adjustable rate mortgage) loans can be misused, they are absolutely NOT evil loans. ARM loans were created as a temporary alternative to help make home ownership more affordable in a high interest rate environment, but gained popularity again when people began to realize the truth about home ownership patterns. The truth is that the VAST MAJORITY of homeowners do not keep their first home for 30 years!!!
Today ARM loans save homeowners thousands of dollars when used properly.
Many people only plan on being in a particular 
home for a short period of time…
EXAMPLE: For a mortgage of $200,000, if you took a 5/1 ARM vs a 30 Year Fixed, assuming rates of 5% and 6% respectively, you would save over $6,000 in a 3 year period if you used your monthly savings to pay down the principal. That means when you sold the home after year 3, you would walk away with over $6,000 MORE CASH without spending an extra dime on monthly payments vs the fixed rate option. If you planned on being in this house for only 3 years and your loan officer didn’t mention this option to you, he could have potentially cost you over $6,000!
If you planned on keeping the house over 5 years then this option might be totally inappropriate for you, but the problem would not be the loan itself… the problem would be the bad advice from your loan officer. There are ARM loans that are fixed for periods of 6 months, 1 year, 3 years, 5 years , 7 years, etc… There are caps on these loans that can protect you in case you go past the initial fixed period. The most important aspect of selecting the right loan is to get ALL the information about what options you have. A trustworthy loan officer will take the time to explore and understand your situation before suggesting a certain loan… if you talk to a loan officer that pushes one loan over another without knowing the details of your situation… RUN!! Remember, prescription before diagnosis is malpractice!!!
Olan Carder, Myers Park Mortgage
Thanks Olan. I’ve always used a 5/1 or 7/1 ARM. Interested in homes in Charlotte? Try this Search For Charlotte Homes Page or give me a call direct at 704-351-1519. An interesting post South Charlotte Homes For Sale and Appreciation Report.
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Charlotte NC|Buy a Home Now, Or Buy Later? You Decide
February 20th, 2008 Categories: Buy A Charlotte Home
Should You Buy A Charlotte Home Now? Home Prices, Interest Rates and Good Deals say YES!
Working on a notepad last week, I was trying to show a buyer the biggest reason to buy NOW in Charlotte- low interest rates and safety in market prices. Then, on another blog, I’m in a running argument with “Doom and Gloomer” who swears home prices will fall and the sky is falling.
And I had another Customer ask, despite Charlotte home prices rising 13 of the last 14 months- despite prices rising 4.3% in 2007, the client asked the dreaded “What if?” question, that if prices fall in 2008. I proved to her she would still come out ahead if prices fell an unheard of 5%… here is why.
If you wait until home prices begin to improve nationally, the country will be moving out of recession. As the nation moves out of recession, interest rates will rise as the Federal Reserve becomes more worried about inflation than recession and raises rates. Guaranteed. Just like they have lowered rates twice in the last 4 months to try and stave off recession.
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Charlotte, NC| Homes for Sale in the 28277 Zip Code
February 18th, 2008 Categories: Buy A Charlotte Home, south charlotte
South Charlotte Homes for Sale in 28277
This South Charlotte zip code encompasses the Ballantyne, Providence, Raintree and Johnston Rd neighborhoods; for those interested in moving to Charlotte, taking a look at the 28277 zip code is a must. The area caters to the golfer in us all with 4 country clubs, and 6 golf courses in the zip code and another 5 golf courses a short drive away. Two blue chip public high schools in the area, Audrey Kell and Providence, and two of the most well known private schools in Charlotte: Charlotte Latin and Charlotte Catholic. A short drive to Ballantyne, Southpark or a bit longer to Uptown, it is a lifestyle many enjoy in Charlotte. Below is breakdown of the Homes for Sale in 28277- South Charlotte:
|
Price Range |
Homes for Sale |
Average Size (sq/ft) |
Average Bedrooms |
Average Baths |
|
Homes Less than $250,000 |
53 |
1813 |
3 |
2 |
|
Homes less than $500,000, More than $250k |
229 |
2783 |
4 |
2 |
|
Homes less than $750,000, but more than 500K |
82 |
3955 |
4 |
3 |
|
Homes less than $1,000,000, more than 750k |
25 |
4879 |
4 |
3.5 |
|
Homes less than $2,000,000, more you may than 1M |
36 |
6258 |
5 |
4.5 |
|
More than $2 mil |
9 |
9122 |
5 |
5.5 |
Interested in homes in Charlotte? Try this Search For Charlotte Homes Page or give me a call direct at 704-351-1519. A related post- South Charlotte Homes For Sale and Appreciation Report.
Thinking about moving to Charlotte? Facing a relocation? A quality of life move south? Just want to come to Charlotte for the weather?
Like to see more pictures of Charlotte Homes? Charlotte neighborhoods? New Home Subdivisons? Read on…
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Search Charlotte NC Real Estate- Find Your Charlotte NC Home Here, by AREA: Southpark, Myers Park, Lake Norman, Lake Wylie, Uptown Condos and More
February 15th, 2008 Categories: Buy A Charlotte Home
How do you Search for Homes for Sale in Charlotte, NC? Search the MLS? Lake Norman? Sun City? Or Myers Park? Search “Greater” Charlotte homes by area below…
You could use Realtor.com, but they only provide one picture usually… you can use Trulia or Zillow, but they often miss a listing, or have out of date listings… Below are links to my easy to use and up to date Charlotte Home Search Site- but you need to know where to start… so I’ve broken it down by area for you, see if this helps your search for that perfect home in Charlotte. Still unsure? The best 4 minute introduction to Charlotte is the video on the right-
and the more Information button is exactly that. Map, pics and prices show right up, scroll down to get to the right price for you…Details in the search require an email sign up, but don’t worry, no spam, no bother from us, GUARANTEED. We are Buyers Agents- or Seller Agents- we never represent both in the same transaction. As Buyer Agents, we never accept “Seller bonuses.” We are working on Google maps for all of these as we speak!Homes Sale in Dilworth, zip code 28203 Condos To See More Dilworth info- map
Homes for Sale in Myers Park, zip code 28207 Condos To See more Myers Park Info-map
Homes for Sale in Southpark, search 28209 Condos More Southpark Information
Home For Sale South Park, 28211, on the south-east side Condos more Southpark information-map
Homes for Sale in South Charlotte- zip code 28277- Condos Ballantyne, Providence Country club and more
Homes for Sale in South Charlotte- zip code 28270 Condos  Pictures
Homes for Sale Matthews NCÂ Condos Pictures
Homes for Sale Huntersville NCÂ Condos Pictures
Homes for Sale Cornelius NC Condos Pictures
Homes for Sale Mooresville NCÂ Condos Pictures
Homes for Sale Weddington NC Condos Pictures
Homes for Sale Waxhaw NC Condos Pictures
Homes for Sale Harrisburg
Condos for Sale Uptown   Pictures by Complex
Homes For Sale in the Palisades   Pictures
Homes For Sale The Sanctuary Pictures
Homes For Homes in Sun City Carolina Lakes- Search for 29707- 200k-600k, Pictures
Homes in Ft Mill SC Condos
Questions? Call me Direct, Terry McDonald at 704-351-1519
For more help online, visit my Charlotte photo gallery, More Charlotte Photos- over 45 neighborhoods and condos, more than 2500 pics in total…
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Charlotte NC|Mortgages, Rates And Terms: Best Rate? or Best Value? Ask The Broker- Mortgage FAQ's
February 14th, 2008 Categories: FAQs About Charlotte
The Best Deal?? What everyone wants right? So that means the Best Rate, doesn’t it? Does it? Is it the best rate or best value I am looking for?
by Olan Carder, Loan Officer, Myers Park Mortgage
I have been helping people finance the “American Dream” for over 10 years. Over the years, something has started to stand out as being very odd to me. When home buyers are shopping for a home or mortgage, they typically get very focussed on one or two key issues. They get what I would describe as tunnel-vision.
Everyone wants to feel like they found the best deal. I am sure you feel that way too, but sometimes the way we go about finding the “best deal” might actually hurt our chances of finding the “best value”. Say What? That’s right, read on! Have a look at this:
VALUE = Benefits – costs
For example, a $200,000 home in an appreciating area might be a much better value than a similar $180,000 home in an area that is seeing home prices stay flat. A mortgage loan at 6% might be a better value than a mortgage at 5.5%, given other factors. I see many potential homeowners get hung up on cost, or area, or PMI, etc… but they lose track of the big picture- which in mortgages is the total cost, before and after taxes. 
This has a great application to your mortgage! I prepare a Total Cost Analysis for my clients that details several loan options compared over time. Notice the word “TOTAL” comes before the word cost. I am sure many of you reading this blog have heard of “No Closing Cost” loans, but I assure you, like the fabled snipe hunt, that animal does not exist. Every loan has costs… either in the interest rate you pay each month or in the form of up front fees. The key to achieving the best value is comparing the total cost of the options you have over time.
Where do you see total costs? On a Good Faith Estimate of Closing Costs. Demand one. And how do you compare a 6.25% with “no closing costs” loan to a 5.5% loan with a 1 point origination fee? You compare APR’s, Annual Percentage Rates of the loans side by side- these factor in all closing costs and rates to yield the true cost of the loan.
Then, consider whether you need more tax breaks now or later, talk to your accountant, and go get that loan and home.
Olan Carder 
LIFE Changing Advice!
Myers Park Mortgage
Office: 704-971-6193
Thinking about moving to Charlotte?Like to see more pictures of Charlotte Homes? Charlotte neighborhoods? New Home Subdivisons? Read on…
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Charlotte, NC|Sun City Carolina Lakes- A Deep Market Report of this Greater Charlotte Community Located in Ft Mill SC
February 12th, 2008 Categories: Fort Mill SC Carolina Lakes
Sun City Carolina Lakes- What’s Up With the Re-Sale Home Market?
Some Re-Sale homes are asking higher prices, than the same model new construction… What? A Deep Market Report
Sun City Carolina Lakes in Ft Mill SC, an active adult resort style community is the fastest selling new home community in the greater Charlotte area. Del Webb’s popularity is well known, the lifestyle, the convenience, and the amenities are there for the leading edge of the boomer retirement curve. Charlotte’s popularity is no longer a secret either, and despite the nationwide downturn in real estate, Charlotte real estate prices are still increasing (13 of the last 14 months)and our market overall is quite healthy.
But homes for sale on the re-sale market in Carolina Lakes have frankly gone wild. Is it over eager agents pumping the prices to outlandish levels? Or, more likely, sellers demanding these prices, even as price appreciation has slowed in the region, and Agents not making their case effectively for realism in pricing? Prices in many cases appear to exceed similar new units. Folks, this won’t work!
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A Remarkable Southwest Charlotte Home at $1.7M in the Palisades
February 8th, 2008 Categories: Lake Wylie NC and SC
Best Value in a Luxury Custom Home is at the Palisades
In the last 8 days I’ve been out looking at homes priced between $1.5M and a little over $3M. I’ve seen Charlotte’s finest builders. I’ve found high quality homes and excellent values in a handful of neighborhoods, Skyecroft in Weddington, Stratford On Providence, The Sanctuary,
here’s a Sanctuary beauty:
See a luxury Home in the Sanctuary
Longview, and the Palisades. By far the best value, was this Jas-Am home in the Palisades. This home has over 6000 sf finished, an additional 800 unfinished in the attic (a perfect theater room?) and details more common in the 3M category. Have a look:
This home’s asking price is $1.695M, and it needs a couple of things- I think we can get it all for under $1.65M. Call me direct a 704-351-1519- as always I am a buyer Agent and represent only you.
I walked two models at the Ranch with the builders, Ricardo Anderson and Bobbie Fisher of Anderson Homes, and Frank Arooji from Persis-Nova, all I can say is Wow! It’s made me excited about this year’s Homearama at the Ranch at the Palisades. Home prices will range from just under 2M to possibly $3M+.
If you are looking for a luxury home in Charlotte, a new custom home, look no further. From the Palisades to the Point, Myers Park to Southpark, I know Charlotte, and I know custom homes. Call me direct at 704-351-1519
Thinking about moving to Charlotte?Like to see more pictures of Charlotte Homes? Charlotte neighborhoods? New Home Subdivisons? Read on…
Like more Charlotte photos, read on… Like to Search for Charlotte Homes.. Read the rest of this entry »
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