Real Estate News: Cornelius Publix Opens Today

Grand Opening 2015
Have you heard the news? According to Publix website, today is the grand opening for the Cornelius store. Head on over and take a peek while on your lunch break or better yet let them make your lunch!

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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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Quote for the Week

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  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.  

Houdini Quote for Monday

Real Estae Market: Where House Prices Will Be in the Spring of 2012

Disclaimer: This blog covers the national housing market as a whole. Please check with a local real estate professional to discover how the following information will impact your region. – The KCM Crew Many sellers want to wait until the spring before putting their home on the market. This might be for any of several reasons:
  1. They don’t want to be inconvenienced during the holiday season.
  2. They believe that they will see more potential buyers and as a result will get a higher price.
  3. In the northern part of the country, they might not want people walking through the snow and then into their house.
  4. All of the above
In a normal real estate market, this may make sense. However, this market has been anything but normal. This spring will also see some abnormalities. The biggest difference will be the direction prices will take.  In years past, the spring market would favor the seller because increased demand would outpace any increase in supply: the number of houses coming onto the market would not be as great as the number of buyers newly entering the market. In most situations, when demand is greater than supply, prices increase. The reason this spring will be different is that the supply of homes coming to the market will be dramatically impacted by foreclosure properties being released by the banks. Many believe this increase in inventory will far outweigh buyer demand. In situations where supply is greater than demand, prices decrease.

Will This Actually Happen? 

RealtyTrac, in their latest foreclosure report, explained:
“U.S. foreclosure activity has been mired down  since October of last year, when the robo-signing controversy sparked a flurry  of investigations into lender foreclosure procedures and paperwork. While foreclosure activity in  September and the third quarter continued to register well below levels from a  year ago, there is evidence that this temporary downward trend is about to  change direction, with foreclosure activity slowly beginning to ramp back up.
This will impact prices.

What Do Experts Believe the Impact Will Be?

Here are the pricing projections by several major entities:
  • Zillow believes we will not see a bottom in prices until the first quarter of 2012.
  • Standard & Poors thinks prices will drop %5 in the next few months. 
  • JP Morgan Chase believes prices will depreciate 6 to 7% over the next six months.
  •  Barclays says prices will fall 7% by the end of the first quarter of 2012.

Bottom Line

You may pay a hefty price for the convenience of not having your property on the market right now. Source: KMC Blog

Real Estate Market: It’s Time to Buy a Home

Still on the fence about what to do? We believe very strongly that now is the time to buy a home. Some will say we are just saying this to create real estate transactions and commissions. Because of that, today we will quote what those outside the real estate profession are saying to the people who look to them for financial advice.

The Wall Street Journal

Last week, in an article entitled It’s Time to Buy That House, the WSJ told their subscribers:
“It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.”
In an article two weeks ago, (the on-line blog for WSJ) told their readers:
“Now could be the best time in history to buy a home.”

In a report to their subscribers, Capital Economics reported that:
“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.”
Why is this important? Last week, Forbes explained to their readers:
“If rents simply kept up with inflation at a 3.2% annual increase, a $1,500 rent payment would cost that renter nearly $900,000 over the next 30 years. The same $1,500 payment made to their mortgage would be only $540,000 (because the payments don’t increase with inflation).”
They went on to explain the advantages of homeownership during retirement:
“Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement… At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference not to mention the impact of NOT having to pay a mortgage.  How much less would you have to save for retirement if you didn’t pay the mortgage?

Bottom Line

When the iconic financial newspaper and the iconic financial magazine say that it now makes financial sense to purchase a house, perhaps it’s time to buy a home.   Contact The Lee Ann Miller Team today and let us find your dream home!   SOURCE: KMC Blog

Real Estate Market: Should I Stay or Should I Go?

“It depends!” Should you buy, sell or sit tight? We get asked this question all the time, so we want to take this chance to explain why we give that answer.  First, it is important to know the residential real estate market has now outperformed the same period in 2010.  This is an important note since the market was supported by the federal tax credit during the first part of 2010, which had a significant impact on sales at that time.  Considering 2011 has not had this stimulus, we are very pleased that we are ahead of 2010 and we predict we will see an annual increase in activity of near 10% as compared with 2010.  Pretty impressive indeed. Now, should you buy?  If you have job security, a good credit score and income needed to support the next home, the opportunity to buy has never been better.  Low interest rates, plentiful inventory and low prices have created the trifecta for buying. Buyers moving up in price point are in the most advantageous position because they realize the highest benefit financially. Should you sell?  If your housing needs include a move-up to a higher price point, now is the perfect time to sell – prices are lower.  Does this make sense?  Yes!  For example, if your current home is down 10% in value and has dropped from $200,000 to $180,000, you “lost” $20,000.  However, if you are moving up to a $350,000 house and it also dropped the same 10% in value, it was once worth $390,000.  That seller lost (or you have gained) $40,000.  If your housing needs indicate a move-down in price point, you may want to wait – assuming you are financially able to do so. Should you sit tight?  If your job security is questionable, if your credit is flawed or if your income is stretched, you may want to postpone a buying or selling decision.  If your equity has been minimized by any adjustments to values in your local neighborhood, you might want to sit tight.  As mentioned above, if you are down-sizing, you may also want to sit tight unless you really need to decrease your monthly expenses. See, every situation is different.  As your trusted advisor, it is our duty to talk to you about your specific needs.  Call us, e-mail us – We’d love the chance to talk to you or your friends about the many questions we face about this wonderful world of real estate!

REAL ESTATE: Appraisal Changes Effective September 1st

 Today is the official day that Appraisers must begin using the new forms, codes and standards required under the new Uniform Appraisal Delivery standards set by FHFA(Federal Housing Finance Agency),  FNMA, Freddie and the GSE’s.   What will this mean for us? Quick view of Changes
  • The quality and condition rating system is new
  • A whole new set of standardized abbreviations
  • Standardized date formatting
  • Appraiser must report separately on kitchens and baths
  • Location and views are never average anymore – each must be defined based on a drop list
  • Listing history (if listed within the past year) must be broken down for each change along the way
  • Days on market must be disclosed for all sales and subject if a purchase
  • Each sale now must be more clearly defines as an arm’s length, REO, Relocation, Short etc.
  • Treatment of bathrooms counts have changed
 In addition, we will need to understand that as Appraiser’s and Lender’s get used to the new codes and requirements that there will be possible delays in Appraiser’s turn-times, along with requests for the information to be correctly noted by Lenders.   As with any change, there is going to be an adjustment period, which we want to make sure everyone understands.  In the end, we will have more uniformity, which may lead to better overall appraisals and some information that agents can use with sellers to help them better understand their property condition in general.