Real Estate Tips: Should You Buy Before Winter Hits ?

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It’s that time of year; the seasons are changing and with them bring thoughts of the upcoming holidays, family get-togethers, and planning for a new year. Those who are on the fence about whether now is the right time to buy don’t have to look much farther to find four great reasons to consider buying a home now, instead of waiting. 

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report released recently projects appreciation in home values over the next five years to be between 10.5% (most pessimistic) and 25.5% (most optimistic).

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise later this year. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of next year.

An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying a Mortgage

As a recent paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But, what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

Bottom Line

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.



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Real Estate News: Final Portion of I-485 to Honor a Local Business Man

It was just announced that the final segment of I-485 outer loop will be named in honor of H. Allen Tate, Jr, the founder and CEO of the Allen Tate Companies.

Mr. Tate has served on the Charlotte Chamber’s Regional Roads Committee, Toll Roads Solutions Committee and others. Some peers feel without his drive and involvement throughout the years, I-485 would not be completed for many more years. The Charlotte Chamber President & CEO, Bob Morgan, said ” For the past 50 years, there has been no greater champion than Allen Tate for planning, funding and building of roads to meet the demands of our region’s growing population”.

What a great honor for a wonderful man. Congratulations Mr. Tate!

No date has been set for an opening or naming ceremony but it is in the works.



Summarized from an article on Charlotte Chamber website

Real Estate: 5053 Mullis Lane in Stanley,NC

Mullis LaneClick on the address for more information & pictures 
5053 Mullis Lane in Stanley,NC 28164

 
   Bedrooms:  3      Full Bathrooms:  2     Half Bathrooms:  0

   Square Feet:  Approx. 2,042                Lot Size:  58 + Acres

 Own a piece of history…Lincoln County historic farm #3 can be yours! A beautiful setting of grassy fields, open pastures and a 1890 farmhouse completely renovated in 2004. This property also features a 60 x 36 barn, hay barn, outdoor storage buildings, electric fencing, fruit orchard, blueberry bushes, garden and box planters. Keep as a working farm or a private country get-a-way! 


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Some properties that appear for sale on this website may subsequently have been sold and may no longer be available. 



Real Estate: 19234 Coachmans Trace in Cornelius, NC

Coachmans TraceClick on the address for more information & pictures 
19234 Coachmans Trace – Cornelius, NC 28031

 

   Bedrooms:  4  Full Bathrooms:  2   Half Bathrooms:  1
Square Feet:  Approx. 2,100            Lot Size:  ..70 

 Great value in the beautiful tree lined streets of Glenridge! Fresh paint, new carpet, new floors in kitchen and breakfast area. Spacious great room with fireplace. Separate dining area that would work well as an office. Nice kitchen with attached breakfast area. All bedrooms on second level. Huge owners suite with trey ceiling & private bath. Generous bedroom sizes. Home could be 3BR and bonus if this better suits your lifestyle. Attached 2 car garage and nice rear yard with patio & room to play. Close to community swimming pool. Great Cornelius location! Close to everything!—Too Late! SOLD


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Some properties that appear for sale on this website may subsequently have been sold and may no longer be available. 

 

 

Real Estate Tips: Buying new construction? Yes, you need a Realtor®.

New Home for 2.25.14
With new home sales in 2013 up 16.4 percent over 2012, it’s clear that many homebuyers are considering new construction homes again.

And, since most new developments have an agent on-site, new construction homebuyers may wonder why or if they need a Realtor®. Let’s take a moment here to examine the question more closely.

Buying a home is likely the biggest investment you will ever make, so it’s generally a good idea to have a Realtor on your team.

A Realtor will help you learn about buying a new home, find a builder in your target location and budget, help you explore the latest building trends and become a more educated consumer. When looking at new construction developments, a Realtor can help you find and compare different communities, builders and floor plans.

If you make the decision to go with a particular builder, it is the on-site sales agent, who works for the builder, who will help you make flooring and lighting selections and write your sales contract. Your Realtor will help you negotiate the contract, explain the process and be your advocate throughout the transaction.

Using a Realtor as your representative in this transaction won’t increase the price of the home, nor will not using a Realtor reduce the price of the home.

Before you close on your purchase of a newly constructed home, you, your Realtor and the builder will do a final “walk-through”, providing an opportunity to spot items that may need to be corrected or adjusted. During the inspection, your Realtor can advocate for you and ask the right questions about:

  • The operation of the house’s components
  • The buyer’s responsibilities for maintenance and upkeep
  • Warranty coverage and procedures

Buying a newly constructed home can be more complicated than it first appears. Representation by a Realtor gives you peace of mind, and an expert set of eyes to make sure that you get the home you expect and deserve.

Tony Jarrett
Allen Tate 
Regional Vice President, Triad

Posted 2/25/2014

Real Estate: #1 Reason to Sell Your Home NOW


Its as simple as one little word…PRICE

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense.

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory available in most markets currently, a seller will be in a great position to negotiate.


Contact The Lee Ann Miller today to get your home Sold!




Posted by the KMC Crew on January 13th 2013
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Real Estate: 5 Reasons to Sell Now

Audrey Cir
Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the fall and winter have their own advantages. Here are five reasons to sell now.

1) Only Serious Buyers Are Out

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers’. The lookers are at the mall or online doing their holiday shopping.

2) There Is Far Less Competition

Housing supply always shrinks dramatically at this time of year. The choices for buyers will be limited. Don’t wait until the spring when all the other potential sellers in your market will put their homes up for sale.

3) The Process Will Be Quicker

One of the biggest challenges of the 2013 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.

4) There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 25% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.

5) It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells. The time has come for you and your family to move on and start living the life you desire. That is what is truly important.

Contact your favorite Lake Norman real estate team today to get your home on the market. 


Posted: 19 Nov 2013 04:00 AM PST — Written By The KCM Blog
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Real Estate Market: The Spring Market Recovery

It is looking like the long-awaited real estate recovery has taken off!  While the past few years have presented a few challenges to sellers and buyers alike, 2012 has come out of the blocks very strong – exceeding our expectations.  According to the January report from the Carolina MLS service which serves Charlotte and the surrounding counties, the MLS closed transactions increased 9.2% January 2012 as compared with January 2011.  However, the Allen Tate Company Charlotte region closed sales increased 21.7% – our growth is more than double the overall market growth!  What does that mean for buyers and sellers?  Great news on both fronts.  For buyers, you should be feeling more confident that the economic rebound we have seen in the past six months provides job security.  You also should be pleased with the incredibly low rates for qualified buyers – hovering around 3.25% for 15-year fixed and 3.75% for a 30-year FHA loan.  If you plan to be in the house for a shorter period, 5/1 ARMs are near 2.5%.  And that’s BEFORE the tax benefits for mortgage interest deductions!  For sellers, you are seeing more buyers in the market as indicated by the increase in sales activity.  Properties placed under contract so far in 2012 is nearly 60% above 2011 numbers.  This is a very strong signal that the housing recovery is here.  A word of caution – there is quite a bit of “shadow inventory” that comes in two forms.  The reported foreclosure inventory has yet to be consumed by today’s buyers.  Additionally, many non-distressed sellers who chose to wait for the recovery may now test the market again.  As this inventory enters the market, it is not likely that we will see appreciation for the short-term.  If you are interested in what the market is like in your neighborhood, call The Lee Ann Miller Team or visit our website at LeeAnnMiller.com.  If you use our TateMap Interactive Search function, you can see what the houses in your market are listed for as well as two years of recent sales activity.