Friday, May 10, 2024 / by Ian Llamas
So, you've found the home of your dreams. You've walked through its rooms, imagined your life within its walls, and now you're ready to make an offer. But how do you ensure your offer stands out from the rest? Crafting the perfect offer is an art, combining strategy, research, and a dash of intuition. Here are some tips to help you navigate this crucial step in your homebuying journey.
Know Your Budget: Before you even begin your home search, it's essential to have a clear understanding of your budget. This includes not only the amount you're willing to spend on the home itself but also factors like closing costs, taxes, and potential renovations. Knowing your budget upfront will help you craft a realistic offer that you can comfortably afford.
Research Comparable Sales: One of the most critical aspects of crafting a competitive offer is understanding the local market. Research recent sales of comparable homes in the area to get a sense of what similar properties are selling ...
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Monday, June 14, 2021 / by Bella I.
The Charlotte Metro Area's Market in April Was Incredible For Homeowners
Let's recap the March market.... As North Carolina continues to ease COVID-19 restrictions, April home sales — unhampered by the pandemic-induced lockdowns of last Spring, rose 25% year-over-year with 4,678 homes sold across the Charlotte region.
His time last year, residential home sales activity was interrupted and declined nearly 21% over-over-year as both buyers and sellers were sidelined during lockdowns.
So, homes under-contract that have not yet closed rose by 46% year-over-year and total 5,453, compared to only 3,727 in April of 2020.
CLICK HERE to watch my Market Update for May 2021 in which I cover:
A comparison year-over-year in the Charlotte Metro market since initial lockdowns
What Sellers are experienced in April 2021, and the trends we're noticing
Number of pending sales in our current market and their impact
How to get more money for your home
What you can do to se ...
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Friday, June 4, 2021 / by Bella I.
March Stats Show the Craziest Market, Ever! ??
Let's recap the March market.... there are massive increases in almost every aspect of the market right now, with records being broken across the board. Single-family home sales increased by over 30% over last year. Prices are through the roof, where we saw the Median Price rise by 12% to $305,000, and the average price rose by 18% to $370,706. Extremely low inventory is driving home prices up! The number of homes for sale on the open market is down by 70% from last year! We only have on a 0.6 month supply available vs last year where we had a 2 month supply. A healthy market stays between a 6 to 7 monthly inventory availability. Our market is that high in demand! Another crazy stat is the percentage of Sold to List Price... it is now over 100%!Here in Charlotte, we have low interest rates combined with the fact that people are flooding into our market because we're one of the top cities with work-from-home opp ...
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Saturday, February 8, 2020 / by Nancy Braun
If you’re thinking of purchasing a home and would like to get a good deal, you may want to consider buying a Charlotte HUD home. HUD homes are homes owned by the U.S. Department of Housing and Urban Development, and they are usually offered for sale at affordable prices.
When buying a HUD home, there is no negotiation process. Unlike a regular home for sale on the market, there is no back and forth discussion with the seller. Instead, there is a bidding process, and the highest acceptable offer will be chosen.
Before you go bidding on a HUD home, let us first understand what a HUD home is, and why it offers a great deal.
What is a HUD Home?
HUD stands for the U.S. Department of Housing and Urban Development. A HUD home is a home that was acquired through an FHA-insured mortgage, but when the borrower failed to pay the mortgage, the property was foreclosed.
Since the FHA loan was insured by the government, if the borrower was unable to pay the mortgage, the FHA pays. ...
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Saturday, October 5, 2019 / by Nancy Braun
The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.1
However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession. Global trade tensions and a slow down in the GDP growth rate have sparked volatility in the stock market, leading to economic uncertainty.
Given these differing signals, you may be wondering: How has the U.S. housing market been impacted? Where is it headed? And more importantly … what does it mean for me?
MORTGAGE RATES ARE NEAR HISTORIC LOWS
In August, Freddie Mac reported that the average 30-year fixed mortgage rate hit its lowest level since November 2016, falling to 3.6%, down a full percentage point from a year earlier.2 Variable mortgage rates also fell when the Federal Reserve cut interest rates at the end o ...
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