Charlotte Home Buyers Archives - Houses for Sale in Charlotte NC

SouthPark Market Report JULY 2019

07/14/2019 by Debe Leave a Comment

SouthPark Real Estate Market Report JULY 2019

SouthPark, that prestigious address that offers, not only wonderful proximity to everything Charlotte but, a lifestyle that is highly desirable. We are 12 minutes from Uptown and 12 minutes from Ballantyne (north and south) and the same distance from Cotswold on the east side and Dilworth on the west side. It really doesn’t get more ‘central’ than that, does it?! The central location in the city may just be the reason that SouthPark is one of the southeast’s largest live/work communities as well.

A variety of housing styles fill the SouthPark community, ranging from 1950’s ranch properties in Beverly Woods and Barclay Downs to newer multi-million-dollar homes in neighborhoods like Quail Hollow, Carmel Park, Foxcroft, Sharon Hills, Royden and the exclusive gated communities of Morrocroft and nearby Seven Eagles. The Harris YMCA, located at the corner of Sharon and Quail Hollow Roads, is also a legacy from theMorrison/Harris family. Read more about SouthPark neighborhoods here.

The latest numbers are in for June and the real estate market remains fairly strong in the SouthPark area.

SouthPark home sales continue to trend upwards, demonstrating that our community remains a hot spot to land when moving to the area! Here is the latest market report:

Average Sales Prices in the Zip Codes that make up the SouthPark community:

The inventory remains low with a 3.5 month supply, a strong sellers market.

New listings during the month of June were 1,935, fairly low inventory and very similar to the previous month.

There are currently 401 homes on the market.

Average sales price during the month of June was $502,103.

Average price per square foot during the month of June was $188.

List-to-sales price is at 96.2% in the SouthPark area.

There were 1,378 Closed homes in SouthPark during the month of June.

Average days on the market have increased slightly to 48 in SouthPark.

SEARCH ALL SOUTHPARK HOMES FOR SALE

BUYERS

Visit www.TheMaxwellHouseGroup.com for more information and to search for homes in SouthPark. Your first step should be enlisting an experienced, local real estate broker. Selecting a great broker is not as easy as it may seem. There are real estate agents and brokers who will sell you anything but, you want to enlist a seasoned real estate professional for your real estate needs. We would love to share our knowledge of the SouthPark/South Charlotte area with you…and give you the grand tour too!

Hiring the RIGHT Charlotte Realtor® is critical to your home buying success!

SELLERS

If you’re thinking of selling your Charlotte home, let’s talk! As with everything in life, preparation is key and I will equip you with what you’ll need to get you, as seamlessly as possible, through the home-selling process. Call or text (704) 491-3310

*References from any of our sellers are available upon request. Read our reviews www.CharlotteRealEstateAgentReviews.com.

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success too!

Low Inventory Continues in Charlotte but, Easing Q2 2019

04/12/2019 by Debe Leave a Comment

Low Inventory Continues in Charlotte but, Easing Q2 2019

In March, 2010, Charlotte marked historically high inventory levels (13.9 month supply) and as the recession eased, inventory levels fell into a strong sellers’ market. Since 2015, Charlotte housing inventory has been less than a 3-month supply. In August, 2018, we were at an all-time low with a 2-month supply and in some parts of Charlotte, even lower than that.

This painfully low inventory level has been driving up competition (and prices) for real estate in markets all across the country as well. But it looks like 2019 is going to see that (finally!) begin to shift. While gains are expected to be modest, housing inventory is at least going to be heading in the right direction in the upcoming year.

According to Realtor.com’s 2019 Housing Forecast, national inventory increases are projected to hover right under 7% for 2019 (which is in stark contrast to last winter when inventory hit the lowest level in recorded history). Some types of properties will see more growth than others—while entry-level buyers will see only modest changes in inventory, higher-priced properties (and higher-priced markets) should see a more notable change in available inventory during 2019.

**Charlotte Inventory MARCH 2019, up 30.8% year-over-year**

The Bottom Line

If you’ve been thinking about buying a home in Charlotte but haven’t been able to find one in this highly competitive market, it looks like things are finally starting to shift in your favor—and (hopefully!) finding a home this spring, 2019 is about to get a lot easier.

If you’re thinking about buying a home in Charlotte this spring, make sure you work with a qualified real estate professional. There’s a reason 9 out of 10 buyers partner with an agent or broker to find and purchase their dream home and I’d love to help you find yours.

Call or text (704) 491-3310 – let’s talk!

Hiring the RIGHT Charlotte Realtor® is critical to your home buying success!

*References from any of our sellers are available upon request. Read our reviews www.CharlotteRealEstateAgentReviews.com.

Top Home Buying Myths – And the Truth

04/11/2019 by Debe Leave a Comment

Top Home Buying Myths – And the Truth

Buying a home can seem like a huge undertaking. You don’t need to be a first time home buyer to find the process overwhelming. There is so much information available, how can you tell what’s true and what’s a myth? Understanding the difference can help you make the best decision for you and your family goals.

Top Home Buying Myths – And the Truth

The First Step is finding the Right House – Before you head out shopping, speak with a lender to understand your financial options and how much house you can afford.
You Can’t Buy a Home Without Perfect Credit – The truth is there are many loans available which still offer good interest rates for those without that perfect score.
You Need 20% Down Payment – First time home buyers can use FHA financing for as low as 3.5% down. There are other programs too, such as VA and some conventional loans with less than 20% down also.
You Don’t Need an Agent – An agent not only knows the market and can help you with value, but also customary charges, negotiations and solutions to common hiccups.
Schools Don’t Matter if you don’t have Kids – The neighborhood school is always important to home values, regardless of whether you yourself have children.
New Homes Don’t Need a Home Inspection – Every home should have a home inspection by a licensed inspector to check for existing or potential problems.

Buying a home is one of the most important financial decisions you’re likely to make in your lifetime. Take the time you need to understand the process and learn from the professionals; don’t assume that everything you read is true.

Call or text (704) 491-3310 – let’s talk!

Hiring the RIGHT Charlotte Realtor® is critical to your home buying success!

*References from any of our sellers are available upon request. Read our reviews www.CharlotteRealEstateAgentReviews.com.

What’s Your FICO Score? Do You Know What Score You Need to Buy a House?

03/19/2019 by Debe Leave a Comment

What’s Your FICO Score? Do You Know What Score You Need to Buy a House?

Oh the myths we hear in our business! Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is those reporters were misinformed…as were the renters who read the erroneous articles!

To begin with, only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:

16% Very Poor (300-579)
18% Fair (580-669)
21% Good (670-739)
25% Very Good (740-799)
20% Exceptional (800-850)

Just because you have a low credit score doesn’t mean you can’t purchase a home. Just as there are a multitude of options available for those with exceptional scores, there are a lot of options out there for consumers with low FICO® scores.

*“What’s our FICO Score? Can we buy a house?”*

Low or no credit score? There are many programs available with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a minimum FICO® score of 580 if you want to qualify for the low down payment advantage.

The US Department of Agriculture (USDA) does not set a minimum credit score requirement, but most lenders require a score of at least 640.

Veterans Affairs (VA) loans have no credit score requirement.

As you can see, none of those programs require a credit score above 700!

Yes, it’s true that the average FICO® score for all Closed loans in January, 2019 was 726 (that includes refinances). There are plenty of home buyers and homeowners taking advantage of the low credit score requirements when purchasing or refinancing.

This graphic represents the average FICO® Score of Closed FHA Loans since April 2012 according to Ellie Mae:

Average FICO Score of Closed FHA Loans (Refinances & Purchases)

As you can see, there has been a reduction for the last seven years. In fact, for FHA Purchase loans, the average FICO® Score reported in January 2019 was 675!

Many Americans simply assume that their credit score is too low to qualify and do not even bother to check. Credit.com confirmed that only 57% of individuals sought out their credit score at least once last year.

FICO® reported that since 2009, the average FICO score has steadily increased from a low of 686 in 2009 to today’s average of 704.This graph demonstrates the increase in the average US FICO® Score over the same period of time as the graph above (2009 – 2019).

The Average US FICO Score is on the rise in 2019.

Bottom Line

A surprising 84% of Americans have a FICO score that will allow them to buy a house. If you are unsure what your score is or would like to improve your score in order to become a homeowner, let’s talk! I would love to help you set a path to achieve your dream! Call or text (704) 491-3310

Custom Home in Popular Dilworth Neighborhood is Under Contract!

03/15/2019 by Debe 1 Comment

Another Maxwell House Group – Re/Max Executive Listing UNDER CONTRACT

Sorry you missed this lovely home! If you’re thinking of selling your home, visit www.ListMyCharlotteHome.com, call (704) 491-3310 or email CharlotteBroker@icloud.com for other available homes for sale in this area or give us a call and we’ll put you on our ‘hot list’ for instant notification when a home in this area comes available–as SOON as it comes on the market!

HUGE $100K+ PRICE IMPROVEMENT! Price per square foot is below market value on this stunning custom 2-story arts & crafts home. Located in the Dilworth neighborhood, one of Charlotte’s premier historic communities, you will be living just minutes from Uptown Charlotte.

Enjoy entertaining in your open great room/kitchen/breakfast area that flows beautifully onto the large screened porch, overlooking the babbling stream and wooded area in the back.

Floor to ceiling stone modern fireplace with gas logs, flanked by custom built-ins. No detail overlooked in this lovely home: 10′ ceilings down/9′ ceilings up, hardwood floors throughout (except baths/laundry/bedrooms), zero entry double-head shower with stand-alone soaking tub, dual vanities in master bath, gorgeous wood trim accents, oversized parking pad with covered parking at mudroom/kitchen entry.

Minutes to Uptown, Myers Park, South End & Sedgefield. Imagine having Freedom Park, shopping & restaurants just quick stroll away. Incredibly friendly neighbors and quiet, dead-end street – great for neighborhood gatherings with no through-traffic! You will LOVE this location!

Take the walk-through virtual tour and then give us a call! We’d love to give you the grand tour! (704) 491-3310

Why Do I Need a Real Estate Agent?

03/12/2019 by Debe Leave a Comment

Why Do I Need a Real Estate Agent?

87% Of Buyers Purchased Real Estate Through An Agent Or Broker In 2018

Why you need a Charlotte Real Estate Agent

Between the historic inventory shortage, intense competition and rapidly rising prices, navigating the Charlotte real estate market in 2018 was a real challenge for buyers. For that very reason, the vast majority of home buyers partnered with real estate professionals for their home search.

According to the 2018 Profile of Home Buyers and Sellers from the National Association of Realtors, 87% percent of buyers purchased their home through a real estate agent or broker. The main reason? Buyers wanted an agent to help them find the right home for them and their families (52%). I can’t tell you how many times I receive calls from buyers who ‘just found’ a listing that I had on the market (or another agent had on the market) that has been under Contract for over a week. Savvy buyers understand that full-time, high-producing real estate agents have their fingers on the pulse of the local market.

The Bottom Line

Call or text (704) 491-3310 – let’s talk!

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SouthPark Market Report JULY 2019

SouthPark Real Estate Market Report JULY 2019

The latest numbers are in for June and the real estate market remains fairly strong in the SouthPark area.

SEARCH ALL SOUTHPARK HOMES FOR SALE

Low Inventory Continues in Charlotte but, Easing Q2 2019

Top Home Buying Myths – And the Truth

What’s Your FICO Score? Do You Know What Score You Need to Buy a House?

Custom Home in Popular Dilworth Neighborhood is Under Contract!

Another Maxwell House Group – Re/Max Executive Listing UNDER CONTRACT

Take the walk-through virtual tour and then give us a call! We’d love to give you the grand tour! (704) 491-3310

Why Do I Need a Real Estate Agent?

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SouthPark Real Estate Market Report JULY 2019

The latest numbers are in for June and the real estate market remains fairly strong in the SouthPark area.

**Another Maxwell House Group – Re/Max Executive Listing UNDER CONTRACT**

Take the walk-through virtual tour and then give us a call! We’d love to give you the grand tour! (704) 491-3310

Houses for sale in Charlotte NC

Reviews

Area Home Searches

Luxury Neighborhoods

What our clients are saying...

Metro Area Communities

Why we love living, working and playing in Charlotte...

Another Maxwell House Group – Re/Max Executive Listing UNDER CONTRACT