First Time Home Buyers - Charlotte, NC

The current economic and real estate market conditions provide first time home buyers their best opportunity to invest in their home. Here are reasons why you should step in and invest:

1. You do not have to sell a home, so your not dependent on some other buyer - Greater flexibility
2. Interest rates are low and there are desirable loan programs for first time home buyers
3. There is plentiful inventory of new and used homes on the market
4. Sellers and Builders are providing discounts, paying for closing costs and more
5. The housing & Economic Recovery Act of 2008 allows first-time home buyers to take a $7,500 tax credit on single family, town or condo purchase through July 1, 2009

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.

Recession and Buying a Home in Charlotte, NC

Its Official; since December 2007, we have been in a recession. However, according to the National Bureau of Economic Research, this is the ninth recession in the past half century. While we plod through our current economic downturn and financial crisis, mortgage interest rates are at its lowest they have been in decades. Rates have dropped to the low 5% range. The savings can be dramatic on the home you purchase and your affordability. Contrary to headlines, lending institutions have mortgage money and are willing to lend to good borrowers but with greater conditions and documentation being required. Most buyers with a good credit score, stable and steady income, and reasonable downpayment should do well in being approved a loan. On some loans, the seller may contribute up to 6 percent to help with closing costs.

Home values in the Carolinas especially Charlotte still lead the nation. According to the S&P/ Case-Shiller Home Prices Index of the top 20 metro markets, Charlotte area home prices declined 3.5 percent for the last 12 months compared with Las Vegas and Phoenix that saw declines of over 30 percent. If you have the money and want to invest in your dream home, now is the time to make the move. Low interest rate, great buys/bargains and tremendous choices will leave you smiling on your purchase of your home.

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.

Establishing the Market Value for your Home

When you wish to sell your home, it is important to establish the market value of your home to have a quick turnaround on the sale. When a home is priced higher than what buyers will pay, the home is likely to remain on the market for a longer period of time and more than likely, the selling price will be lower than the asking price. That's why, pricing your home accurately for a sale is critical.

The market value for your home is determined by several factors:
1) Recent sales - selling prices of comparable homes in the recent past
2) Failed to sell - Properties offered for sale but failed to sale reflect undesirable listing prices
3) Pending sales - Properties under contract but not closed is a good indicator of the price range
4) Competitive active listings - Properties listed for sale that will compete with yours in the market

Note: The Market Value of your home is not determined by what you paid, what others paid for their home, or the improvements made, but a combination of the above factors.

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