Friday, June 4, 2021 / by Client Care
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 ...
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. ...
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 ...
Tuesday, April 30, 2019 / by Nancy Braun
If you’re thinking about buying a home, you’ve probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home buying process for easy entertainment.
With so much information to sift through, it can be tough to distinguish fact from fiction. That’s why we’re revealing the truth behind some of the most common home buyer myths and misconceptions.
Buying a home is a big decision, but it doesn’t have to be a scary one. If you arm yourself with knowledge and a qualified team of support professionals, you’ll be well equipped to make the right choices for your family and financial future.
DON’T FALL FOR THESE COMMON HOME BUYER MYTHS
Myth #1: You need a 20% down payment.
Plenty of buyers are purchasing homes with down payments that are much less than 20% of the total cost of the property. Today, you can buy a home with as little as ...
Monday, January 7, 2019 / by Nancy Braun
As we begin another year, everyone wants to know: “Where is the Carolinas housing market headed in 2019?”
It’s not only buyers, sellers, and homeowners who are impacted. The real estate market plays an integral role in the overall U.S. economy. Fortunately, key indicators point toward a stable housing market in 2019 with signs of modest growth. However, shifting conditions could impact you if you plan to buy, sell, or refinance this year.
HOME VALUES WILL INCREASE
The value of real estate will continue to rise. Freddie Mac predicts housing prices will increase by 4.3 percent in 2019.1 While the rapid price appreciation we witnessed earlier in the decade has slowed, the combination of a strong economy, low unemployment, and a lack of inventory in many market segments continues to push prices higher.
"Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines," according to National Association ...