Belmont NC Real Estate

Belmont is a city in Gaston County , North Carolina, located about 15 miles (24 km) west of uptown Charlotte, NC. Once known as Garibaldi, the city was named in honor of August Belmont, a prominent New York banker. Belmont is home to Belmont Abbey College and the Daniel Stowe Botanical Garden. Belmont offers its 9,200 residents access to Lake Wylie, a beautiful historic downtown, affordable single family housing and access to Charlotte Real Estate and businesses.

Fort Mill SC Real Estate

Fort Mill, SC is one of the fastest growing communities in South Carolina. It is located on the I-77 corridor, south Charlotte NC Real Estate and is home to over 35,000 residents. This fast growing metropolis is part of the Charlotte , Gastonia and Rock Hill Real Estate Metro area. In addition to its historical sites, Fort Mill provides residents access to great schools, golf courses, Lake Wylie and recreation, Panthers football games, and a vast array of other recreation. Its proximity to uptown charlotte and its ability to attract business makes Fort Mill an appealing and exciting community to call home.

Clover, SC - Small town....Big Amenities

The Town of Clover is conveniently located within short driving distances to Charlotte, NC; and Rock Hill, S.C. Clover citizens have access to big city amenities while preserving a small hometown quality of life.The Town of Clover was incorporated in 1887 and originally occupied by Irish & Scottish immigrants. The town has seen its population grow to over 4,000 residents. A charming downtown, affordable single family housing and its proximity to Lake Wylie, Kings Mountain and Charlotte Real Estate makes Clover a desirable place to call home.

Cornelius NC Real Estate - Growth & Lakeside Living

Established in 1905, the Town of Cornelius originated as a mill and farm community. Originally called “Liverpool,” Cornelius was later changed and named in honor of J.B. Cornelius who was the principal stock holder in the local cotton mill. With the closing of the mills, the damming of the Catawba River, the development of I-77 and the growth of the Town as a result of its close proximity to Charlotte, the Town has seen its population grown significantly in the past few years to over 20,000 residents. This Charlotte Real Estate market draws people due to its proximity to Uptown Charlotte combined with the benefits of lakeside living and associated recreation.

Charlotte's Top 5 Golf courses

For business travellers and those looking to relocate to Charlotte, purchase an awesome piece of Charlotte NC Real Estate and also have the opportunity to indulge in quality golfing when time permits - here is a list of top 5 best golf courses at a reasonable price:

1. Stonebridge Golf Club Rich Osborne designed traditional course in Union county with green fees in the $30 - $55 range
2. Charlotte National - Russell Breeden designed course with weekend average fees at $50 and weekdays between $20 - $35
3. Olde Sycamore Golf Plantation Weekday rates $35- 40 and weekend rates $45 - $50.
4. Crescent Golf Club - John Lafoy designed course in Salisbury, about 40 minutes up 1-85.
5. The Waterford Golf Club - This Hale Irwin designed course located in Rock Hill can let you play the course on weekdays for under $30.

Those that make the 6 to 10 list are : The Warrior Golf Club, Skybrook Golf Club, Regent Park, Verdict Ridge and the Firethorne Country Club. Other notable golf courses are Birkdale, Ballantyne and Highland Creek.

The Point on Lake Norman NC Real Estate - Upscale Living

The Point, Crescent's luxury golf course community situated on Lake Norman in the Charlotte Real Estate features nearly 18 miles of pristine shoreline, a golf course designed by Greg Norman, six tennis courts, 3 pools, miles of walkways, family related activities and a Nantucket-styled clubhouse. The Village at the Point Lake and Golf Club provide great dining opportunities at the Meeting House, Tavern-on-the-square and the Village Green.

The Point offers upscale living, combined with country Club lifestyle, luxurious homes, excellent Mooresville schools and easy access to Uptown Charlotte; No wonder opportunities to own a home in The Point are running out fast. Please contact a Carolina Home Pros agent to help you find your dream home in The Point.

Davidson, NC Real Estate...Artsy Town

The town of Davidson NC Real Estate, situated 20 miles from Uptown Charlotte is located at the foothills of Mecklenburg county. This quiet community adjacent to Lake Norman and its vast array of lakeside recreation, also boasts one of the top liberal arts colleges in the country, Davidson College. Founded in 1892, Davidson has a cute downtown with preserved old fashioned streets, beautiful homes and quaint shopping. Housing ranges from waterfront condos to a wide range of single family homes. This Charlotte Real Estate has much to offer for your future dream home coupled with a great school district and access to all city amenities.

Dilworth NC Real Estate - nostalgic, fun, historic

Charlotte's oldest streetcar suburb, Dilworth, was founded in 1891 by Edward Dilworth Latta. This oldest, inspirational & charming Charlotte Real Estate with its leafy streets, charming bungalows, elegant mansions and old churches makes life seem timeless. Homes in Dilworth are not cheap but the area is the oldest and most prestigious address in Charlotte. Dilworth is not only a progressive area but also fun-filled and a great place for families who love the benefits and access to downtown city living while enjoying the nostalgic charm of a safe and pleasant community. The average home cost in Dilworth is $396,000 while the average household income is $98,700, a much higher average then other parts of Charlotte.

Please contact a Carolina Home Pros agent to help you find your dream home in Dilworth.

Huntersville, NC Real Estate - Lake Norman living

Huntersville, part of Charlotte NC Real Estate - was founded in 1873 as a cotton mill town and is now home to over 40,000 residents. It has been tagged as one of the most livable small cities in America. With a broad range of family friendly neighborhoods and home prices, this town provides residents the Lake Norman address and exclusive shopping and entertainment. Located minutes to Birkdale Village for entertainment and shopping and Lake Norman for lake recreational activities, residents also have year round access to the Birkdale and Northstone Golf course.

Exclusive, Providence Downs community - South Charlotte

Providence Downs - An exclusive custom home community in the Charlotte Real Estate is located in Waxhaw, Union county. Minutes from I-485 and 30 minutes from Uptown Charlotte. This community gives residents the peace & quiet of country living with access to all city entertainment, work access, transport corridors and luxurious homes. Exquisite homes are on nearly one acre lots with amenities such as club house, walking trails, pool, basketball courts and soccer fields. The neighborhood is attached to the best charlotte school districts of Weddington/Marvin.


Please contact a Carolina Home Pros agent to help your with your Charlotte Real Estate search.

Ashton Oaks - Palisades - Premium community

This premier gated neighborhood in "The Palisades" of Lake Wylie Real Estate has superior quality custom homes (41 total planned - 3 available lots, 14 available homes, 24 sold) with prices ranging from $800,000 to 2Million. 80% of the homes border the magnificent Jack Nicklaus Golf course with awesome views of fairways and greens. The homes have varying architecture styles, plush interiors and bordered with lush landscaping to make your wildest dreams a reality.

Please contact a Carolina Home Pros agent to help your with your Charlotte Real Estate search.

The Palisades Subdivision - Lake Wylie, NC

Palisades is an environmentally sustaining 1600 acres master planned community on a peninsula in Lake Wylie, 20 minutes from Charlotte, NC. This beautifully planned community that has accounted for the environment and watershed requirements has 300 acres set aside for preservation and recreational needs. Designed and sculpted around the Jack Nicklaus Championship golf course, the neighborhood boasts miles of walking trails, tennis, equestrian, soccer training club, private country club and a town center for shopping and retail needs.

Homes in The Palisades are built by a hosts of custom builders with waterfront, golf course and inside lots available. Builders include Anderson Custom Homes, Arcadia Homes, Jas-am Group, Kingswood, Jordan James, Carolina Phoenix, Simonini, Stevens Construction and a host of others. Homes Prices range from the $300s to $3 million. Neighborhoods in Palisades include Ashton Oaks, Briar Cliff, Bear Creek and Crosshaven. The Palisades is minutes from I-485 and provides for an easy commute to Matthews, Pineville, Ballantyne, Uptown Charlotte and other Charlotte Suburbs. At Palisades, residents are minutes from great shopping, restaurants and recreation.

For additional information on Homes for Sale in Charlotte, contact the Carolina Home Pros Team who will assist you with all of your Charlotte Real Estate needs.

Stone Creek Ranch - Great community in Ballantyne

Stone Creek Ranch is a Centex community located in the Ballantyne area of the Charlotte Real Estate market. The homes include single family and townhomes with prices ranging from low-200's to upper 500s. This neighborhood has been a hot market since late 2007 with almost 55 homes sold. There are currently 45 homes available in this neighborhood. Please contact any of our Carolina Home Pros agents to help you with your real estate search.

Mint Hill Real Estate, Historic growing town

Mint Hill North Carolina is located about 15 miles outside of Metro Charlotte North Carolina in the rural corner of Mecklenburg County. Mint Hill was Incorporated March 11, 1971 with a population of 2,284 but over the past few years has seen tremendous growth and has a population of almost 20,000. Mint Hill Real Estate has residential homes ranging from 80,000 upwards with access to recreational facilities, historic churches and excellent schools. Mint Hill residents embody a strong sense of family and community spirit. Come make your home in this close knit community.

Ballantyne Real Estate - Master Planned Community

Ballantyne Real Estate commonly referred to as Ballantyne Area is a 2,000 acre master planned community, minutes from uptown Charlotte with very accessible transportation corridors and multiple interchanges along 1-485. This Charlotte Real Estate area includes commercial, retail, residential, recreational and resort areas. Ballantyne has real estate ranging from high 100's to multi-million dollar homes. Ballantyne’s five golf courses, Anne Springs Close Greenway with its 1,200 acres and 30 miles of walking trails, Dana Rader Golf school, Ballantyne Morrison YMCA (which includes a water park), the incredible Paramount’s Carowinds amusement Park close by, and finally the US National Whitewater Center, which is the largest facility of its type in the world, ensures there is no shortage of recreation in this area

Stonewater Subdivision Home, 200 Woodwinds Drive - Mount Holly, NC

200 Woodwinds Drive is a stunning 6100 sf custom Waterfront Home for Sale in Stonewater Bay Subdivision, Mount Holly. This luxurious Mountain Island Lake Waterfront home sits on a 0.87 acre premium lot with open channel waterviews and includes a beach area and a floating dock. The home is beautifully architected and over-engineered for safety and efficiency. This 5 bedroom 4/1 baths home has 4 covered porches (approximately 800 square feet), 3 car sideload garage, irrigation system and great landscaping. The home is exquisitely appointed and includes gourmet kitchen with a 42" DeLonghi professional gas range, formals, multiple entertainment areas, study and a full finished basement (1600sf). This home is cozy and inviting and includes custom molding throughout, 18" spanish tiles in kitchen and bath, basement completely tiled, 12' or 11' ceilings throughout and awesome sunset, moonset and lake views from most rooms.

Stonewater Bay is a premium singlefamily waterfront community like its sister community Overlook and caters to the discriminating buyer. Community amenities include lighted tennis courts, club house, junior olympic size pool, beach area, miles of walking trails, playground and more. Stonewater Bay provides resort style living only 20 minutes from Uptown Charlotte. This the home is minutes from 1-485 and provides an easy commute to South Charlotte, Ballantyne, Huntersville, Lake Norman, Denver and other Charlotte suburbs making this a much sought after address.

The MLS #803445 will provide you a virtual tour and details on this home. The home is priced at $850,000 and motivated seller says "Bring offers". For additional information on 200 Woodwinds Drive or Homes for Sale in Charlotte, contact the Carolina Home Pros Team who will assist you with all of your Charlotte Real Estate needs.

Simplified Home Buying Process

Home Buying Process:
Determine Affordability -> Prequalify -> Lock down Rates -> Search & Find Home -> Loan Approval -> Make Offer -> Closing -> Move In

Carolina Home Pros Real Estate Team can help with your Charlotte Real Estate search.

Terms to be familiar with:

• MONTHLY TOTAL EXPENSES - The total when monthly housing expense is added to monthly debt service
• PREQUALIFICATION - act of going through the mortgage application process before the borrower is ready to borrow, to establish how much money the borrower could obtain under a loan.
• RATE LOCK - Lenders will frequently give your buyer clients a set rate of interest that, until a certain date, is guaranteed not to rise. This is called an interest rate lock.
• LOAN APPLICATION - The form completed by a potential borrower which provides information the prospective lender requires to assess the borrower's suitability for a loan
• COMMITMENT - A promise, usually in writing, to provide a mortgage or other loan. May also be used in insurance field. Sets out details of mortgage, insurance. Often referred to as Commitment Letter or Binder.
• OFFER AND ACCEPTANCE - Components of a contract, applicable to the real estate situation where a Purchaser may make an offer on a property and the Vendor may accept that offer.
• CLOSING - The culmination of any transaction in which the interested parties (or their representatives) meet to exchange documents, funds, and property and, if necessary, to register the transfer of title
• POSSESSION - The state of occupying, controlling, using property to the exclusion of all others, exhibiting one's right or title to property.

Lake Wylie - Resort style living, minutes from charlotte

The beautiful Lake Wylie lying minutes south of uptown Charlotte, with 325 miles of pristine shoreline is home to several real estate markets – Lake Wylie, Tega Cay, Fort Mill and Rock Hill of the Charlotte NC Real Estate area. Lake Wylie lakefront neighborhoods include River Hills, Palisades, The Sanctuary, Woodland Bay, Misty Waters, and many others.

The Lake Wylie community offers a wide range of housing options. Elegant lakeside living, cozy wooded neighborhoods and spacious, convenient condominiums add to the feeling that you are enjoying life in a year-round resort.

Home Ownership - Is it right for me?

Buying a home is the largest single purchase that a person / family would ever make. Home ownership has great benefits but comes with certain responsibilities. Consider these factors when you embark on this important step in your life:

• Do you have a steady reliable source of income and a steady employment history (at least 2 years)
• How good is your credit history?
• Is your current debt manageable and can you afford to take on the additional costs of home ownership?
• Do you have money saved for your downpayment and closing costs?

While you review the above, take the following into account:

• The likelihood of a marriage and associated expenses
• Your future growth in family (kids) and associated expenses
• The likelihood of lifestyle changes that may occur/need to be made

Once you have rationalized all of the above and put numbers down and computed your affordability, you are set to make your house purchase a reality. Now is a great time to be investing in your home and the Charlotte Real Estate market offers some super opportunities.

Freddie/Fannie to help with streamlined loan modification process

Freddie Mac joined representatives from the U.S. Department of Treasury, HUD, the Federal Housing Finance Agency, Fannie Mae and the HOPE NOW Alliance to announce a streamlined mortgage modification program that will help borrowers across the country at the highest risk of losing their homes. Scheduled to rollout on December 15, the new effort promises uniform eligibility requirements, easier processing, and uses less documentation than other loan mod processes.

Please contact your mortgage lender for further details on how you could qualify.

Freddie & Fannie suspend some foreclosures

Freddie Mac and Fannie Mae is suspending foreclosure sales and evictions involving Freddie Mac/ Fannie Mae owned mortgages between November 26, 2008 and January 9, 2009 to give servicers more time to implement the Streamlined Modification Program announced earlier this month. "We're on track to help three out of every five troubled borrowers with Freddie Mac-owned loans avoid foreclosure this year," said Freddie Mac Chief Executive Officer David M. Moffett. "The temporary suspension builds on this momentum and will also give thousands of families a new measure of certainty during the holidays."

Please contact your mortgage lender for further details.

Denver, NC - The hot spot on Lake Norman

Denver, NC sits on the west side of Lake Norman, the State's largest lake, created 1959-1964 by damming up the Catawba River. Denver, NC is the new and sought after Real Estate area for affordable and awesome lakefront living that boasts the lake Norman address. A slew of great neighborhoods that portray great custom homes make this area extremely attractive and an investment winner. Denver is connected to uptown Charlotte, via NC Hwy16 that is being expanded as a 4 lane highway.

Please contact Carolina Home Pros Real Estate Agents or email them to guide you on your Charlotte Real Estate search.

Some great neighborhoods in Denver are:

• Pebble Bay – waterfront community with homes from 400+ to 1M+
• Norman Pointe – Premium waterfront community with million dollar homes Sailview – waterfront community with homes from 425+ to 1M+
• Stillwater – waterfront community with home from 400+ to 1M+
• Killians Crossing – Homes from 300+ to 700+
• Verdict Ridge – Golf course community with homes from 300+ to 1M+

Plan to sell…Then disclose Good and Bad

If you plan to put your house on the market, be prepared to tell all about the house…good and bad. This is done through the property Transfer disclosure statement (TDS). Reporting all problems with the home regardless of whether they have been fixed is the safest way to sell your home. Making sure you keep good records is key for as the years pass, many sellers forget about all the repairs they've done to the property. It is recommended that homeowners keep a file of all fixes done to the property. Many sellers resist disclosing problems for fear that their homes won't sell. "That's the fallacy. A buyer will not be swayed by problems if they have made a decision on the house. However, if you sell the home with a problem and the buyer finds out after the close of escrow, the buyer will likely file litigation to resolve the problem—creating unwanted stress and pain.

For your Charlotte Real Estate needs please contact any of our agents.

Charlotte Real Estate Statistics

For the month of October, charlotte and Mecklenburg county saw about 603 homes sold. The average selling price was 260, 110 about 14,000 off the list price. The average days on the market was 87. In the past 6 months charlotte has seen home prices flatten but stay steady, unlike other parts of the country. The inventory of homes is increasing but just under 10 months.

Now is a good time to get awesome deals on Charlotte Real Estate. The inventory of new and existing homes and the slowdown seen over the past few months make this a buyer’s market.

Mount Holly, NC Real Estate…Great place to live in…

Rustic & beautiful Mount Holly, town of 11,500 is approximately 11 miles from Charlotte uptown with access to I-485, the new outer beltway for charlotte city. This town boasts proximity to all amenities, entertainment and attractions of a larger city, charlotte, while retaining its charm of a small town that enjoys true southern life. Mount Holly is dedicated to nature preservation for Mountain Island Lake & Catawba river. Real Estate is relatively cheap here compared to other Charlotte Real Estate but access to lake living and charlotte city attractions makes it an extremely desirable location for value investors seeking quality homes. Real Estate ranges from low 100s to 1M+ for lakeside properties.

Some great neighborhoods to name a few are:

• Stonewater Bay – Previously crescent community on Mountain Island lake 15 minutes from uptown charlotte – Estate Homes from 300K to 900K
• Creekside Estates – Custom Homes from 280k – 500K
• Hickory Ridge Estates – Custom homes from 250k – 500k
• Riverfront – homes from 200K

Charlotte, A Happening city…

Welcome to the city of Charlotte, located in south-central NC, near the South Carolina border. Charlotte, also known as Queen city, is a blend of laid back southern charm and metropolitan energy. From racin’ to barbecue to being home to the nation’s second and fourth largest financial institutions, Charlotte is a dynamic city with a small town feel where just about everyone feels at home.

Charlotte Real Estate boasts vibrant uptown city life to peaceful suburban living all connected by Interstate I-85, I-77, the inner city loop (I-285) and the outer city beltway(I-485 , currently being built out). From the surrounding Mecklenburg County towns of Matthews, Mint Hill, Pineville, Huntersville, Cornelius, and Davidson to the waterfront communities of Lake Norman, Mountain Island Lake and Lake Wylie to the historic neighborhoods of Myers Park, Dilworth, Elizabeth, NoDa and South End to the upscale communities of South Park and the Ballantyne Area everyone can find a community to call home. For your real estate needs, contact Charlotte’s Home Pro Real Estate Specialists.

Top 10 Home Buying Mistakes

The Real Estate Market and Industry are seeing unprecedented effects/impacts from mistakes that have been made by both lenders and borrowers. Charlotte Real Estate, however continues to sustain and defy the national statistics and is doing reasonably well in these economic times. For those home owners looking to buying or investing in their primary or secondary home, you cannot beat a better opportune moment to make that happen. Awesome home deals and equally great interest rates make this a compelling option. However, you definitely need to do your homework and avoid common mistakes. Please review this article on Top 10 Home buying mistakes.

Myers Park NC Real Estate – Prestigious Living..

Prestigious and beautiful Myers Park with its winding streets canopied by large oaks and distinct traditional homes interspersed with condo's and townhomes make this a sought after address to call home. This Charlotte Real Estate area emerged in south Charlotte in the early 1920's when Landscape architect John Nolen was chartered to make this a garden suburb. Myers Park maintains its distinction as one of the finest residential addresses in Charlotte with median home prices averaging $1.05M. Home to Myers Park country club, Wing Haven, Theater Charlotte and a host of retail and business establishments; Myers Park is where most would love to call home. Zip code for Myers Park home search is 28207.

Stonewater Bay Neighborhood - Hidden Jewel of charlotte

If you desire resort style living in a waterfront neighborhood and only 15 minutes from uptown Charlotte, then Stonewater Bay is your answer. This beautiful neighborhood, nestled on mountain island lake just across charlotte city limits and located in Mount Holly, boasts quality, super amenities and proximity to everything. This Charlotte Real Estate neighborhood has it all - waterfront and waterview lots on pristine Mountain Island lake, walking trails, beach area, boat slips, tennis courts, kids park and play area and awesome treed lots and a neighborhood that is meticulously maintained. Make your home in Stonewater Bay that currently has 17 active properties on sale (zip 28210) including a custom waterfront home.

Please contact a Carolina Home Pro's real estate agent to help you with your search.

Fed to buy mortgage-backed assets - inject liquidity

The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the financial crisis. The Fed said it will purchase up to $100 billion in direct obligations from mortgage giants Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks. It also will purchase another $500 billion in mortgage-backed securities, pools of mortgages that are bundled together and sold to investors.

The intent – The fed is adding liquidity in to the market so as to unfreeze the credit squeeze that is preventing institutions to lend money – i.e loans to small businesses, mortgage loans, making payroll and so keeping businesses afloat, student loans, credit cards, auto loans etc. This action will slowly thaw the market and help lending, the basis of a consumer market, to start picking up gradually.

To review article – click here

This article was brought to you by Carolina Home Pros Team who serve your Charlotte Real Estate needs - Your real estate agents for life.

Freddie & Fannie – Their Relationship to home buying….

If you have ever wondered how Freddie Mac, Fannie Mae and other mortgage lenders fit in to home buying in America; Also why the bailout of these financial institutions was so critical and required….during the current credit crisis, understand the process below.

Step-by-step Process

1. Borrower applies for a loan
2. Lender evaluates application using Freddie/ Fannie tools and makes loan to borrower
3. Lender sells loan to Freddie or Fannie. Freddie / Fannie pays lender , providing them funds to make new loans to other borrowers
4. Freddie/Fannie packages loans in to mortgage backed securities and sells them to investors
5. Freddie & Fannie keep money flowing into the U.S. mortgage market, lowering rates and saving money for borrowers

A simple explanation - The problems in the current credit & liquidity crisis originated due to home owners defaulting on their mortgage payments and poor lending practices. When homeowners defaulted on their payments, it impacted the value of these mortgage backed securities and other investment instruments owned by these secondary mortgage lenders. These investment options that are used by companies to grow and invest, suddenly lost value causing a rapid deterioration in company asset value, stock values, investment portfolios and their ability to sustain themselves;

As potential homeowners, awesome buys in Charlotte Real Estate make this an opportune window to invest in your future home. However, thoroughly understand your affordability and homeownership or contact a mortgage lender to evaluate your financial situation.

Fannie Mae..Who are they?

Fannie Mae is a Government sponsored enterprise established by the congress as a federal agency in 1938 with the mission of increasing the total amount of funds available in America to make home ownership and rental housing more available and affordable to the lower, moderate and middle-class Americans.

Fannie Mae operates in the US secondary mortgage market working with mortgage market partners, banks, brokers and other partners to ensure they have funds to lend to home buyers at affordable rates. They fund their mortgage investments by issuing debt securities in the domestic & international market.

For more information on Charlotte Real Estate & Fannie Mae financed homes, please contact your mortgage broker.

Freddie Mac..Who are they?

Freddie Mac is a Government sponsored enterprise (similar to Fannie Mae) established by the congress to keep America’s mortgage markets liquid, stable and affordable in all economic conditions. They operate as a shareholder owned, market driven business. Freddie Mac operates in the US secondary mortgage by buying loans from mortgage lenders thereby ensuring these lenders have funds to lend to home buyers at affordable rates.

Some facts:

• Financed housing for more than50 million families – that’s 1 in 6 homebuyers and more than 4 million renters.
• Financed nearly 3.3 million homes in 2007 alone.
• Helped more than 360,000 first-time homebuyers buy a home in 2007.
• Provided financing for nearly 600,000affordable apartment units in 2007.
• More than 50% of our mortgage purchases finance homes for low- and moderate-income borrowers.
• Average loan size is $185,000.

For more information on Charlotte Real Estate & Freddie Mac financed homes, please talk to your mortgage broker.

Mortgage Rates drop three weeks in a row…

Mortgage rates have dropped for the third successive week with 30yr Fixed averaging 6.04% nationwide, a drop of 10 basis points from a week ago. Freddie Mac sites the weakening economy for the drop in interest rates. Industry analysts forecast further drop in interest rates and with the new administration taking office soon, the need to further stimulate the economy and the housing Industry will be even greater.

This leads us to the burning question? Is it the right time to purchase your home? Unequivocally, the answer is Yes, if your affordability and credit is solid and intact. Awesome deals in the Charlotte Real Estate Area combined with appealing mortgage rates make this decision a no-brainer. See charlotte mortgage lenders & rates – comprehensive link for local borrowers.

Start the New Year in your dream home.

Fixed vs Adjustable Rate Mortgage?

As we review the current mortgage crisis, the question that comes screaming out loud is “Do we play safe and go in for a Fixed term mortgage?”. The answer is “Depends”. The various ARMs that were sold by lenders to innocent borrowers who did not read the fine print or understand their home affordability led to this mortgage crisis. That does not mean ARMs are bad. They are great depending on the objectives of your real estate purchase. For most average borrowers the below may serve as a rough 1st step guide to assess your choice of a fixed or Adjustable mortgage for your Charlotte Real Estate. Please discuss with your mortgage lender.

1. Duration of stay in new home is less than 3,5,or 7 years (depending on the type of ARM your leaning towards)
2. If you plan to pay off the loan or refinance the loan in that period
3. The current interest rates
4. Level of risk – your affordability to make payments

Based on your answers to the above, if you plan to stay in your house for less than the duration of the ARM (3, 5 or 7 years) or plan to pay off the loan, then you should go with an ARM. You get the benefit of lower interest rates then a fixed term mortgage. However, if your risk level is high and your affordability is in question after the ARM period, then a fixed term mortgage is a good choice. Please assess your financial situation thoroughly with a qualified lender before making the final decision.

Is it the right time to invest in your dream home?

Answer: ABSOLUTELY !!!!

There’s no better time than now to invest in your Charlotte NC Real Estate. In the midst of all this gloom you see this huge silver lining.

• This is a buyer’s market
• There are so many awesome homes in outstanding neighborhoods and great deals available
• Mortgage rates are still fairly low
• Real Estate Investments will do well in the long run

So why wait? What you need is an outstanding real estate agent who can assess your needs and match them to the inventory of great homes available at awesome discounts. Someone who can do the number crunching and find you the perfect house for the perfect price. The Charlotte Real Estate listings with access to premier locations – Ballantyne, Lake Norman, Lake Wylie, Pineville etc is your initial guide to your home search. Step in now to find that home you have been waiting for.