Charlotte Home Buyers Archives - Houses for Sale in Charlotte NC

SouthPark Market Report JUNE 2021

06/06/2021 by Debe Leave a Comment

SouthPark Real Estate Market Report JUNE 2021

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 MAY 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 in SouthPark, as in most areas of the US.

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

There are currently 217 homes on the market.

Average sales price during the month of June was $604,890

Average price per square foot during the month of June was $218.

List-to-sales price is at 98.6% in the SouthPark area.

There were 1,730 Closed homes in SouthPark during the month of May.

Average days on the market have increased slightly to 34 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!

THE Most Asked Question in May, 2021 – Should I Buy NOW or Wait?

05/13/2021 by Debe Leave a Comment

THE Most Asked Question in May, 2021 – Should I Buy NOW or Wait?

Quite frankly, we’ve been being asked this question for well over 2 years. If you consider only the last year of appreciation that the Charlotte Metro area homeowners gained, an 11.6% increase – yes, in ONLY one year – that will tell the story about our hotter-than-hot market! To show you what that looks like in dollars – if you paid $500,000 for your home one year ago today, your home would now be worth $558,000. Note that this is our entire MLS – some areas have realized less appreciation and others, more.

If you’re thinking that waiting a year or two to purchase a home will mean you’ll save some money, think again. With the market as hot as it is, home buyers will still realize appreciation, even after paying what seems to be a very high price.

There simply is no slowing down until we reach a balanced market and that’s going to take some time. A balanced market is a 6-month supply of homes; right now, we have a ½ month supply. So, all of that time, a new house will be appreciating each and every month!

Sure, it may be a hard pill to swallow right now but, you’ll be glad you bought now in the not-so-distant future! Experts project both home prices and mortgage rates will continue to rise, which means this is the best time to secure a more affordable home.

Buying now is a smart move in the NC housing market

Let’s talk! Message, phone, or email me if you have questions about the best way to achieve your homebuying goals.

Read: It’s an Unprecedented Sellers Market

#BuyingAHomeInCharlotte #HomeAffordability #Opportunity #CharlotteHousingMarket #HouseHunting #MakeMeMove #HomeGoals #HouseShopping #HouseGoals #LocationLocationLocation

Does the Ability to Pay Cash for a Home Purchase Matter During this Strong Sellers Market?

05/13/2021 by Debe Leave a Comment

Does the Ability to Pay Cash for a Home Purchase Matter During this Strong Sellers Market?

Of course it does! It matters a LOT! We used to proclaim that ‘Cash is KING’ and sellers were all over the cash Offers – even lower than list prices were coveted. Sellers knew that buyers obtaining a mortgage could easily have an issue during the lending process – small or complicated – and the deal was toast. Sellers had to start all over again and then struggled to get anywhere near their list price again. So, cash WAS king!

The market slowly began to stabilize and mortgage requirements were stricter and pre-approval letters were strong. Buyers submitting Offers with a mortgage option were on a more level playing ground than cash buyers. Then, cash buyers offering sub-list prices were no longer overly appealing; sellers knew buyers with mortgages were also going to get to Closing – and often they offered the higher prices!

Cash buyers realized they needed to compete and now, we’ve come full circle with the king of the buyers being cash – and lots of it! They are competing with the best of the buyers obtaining mortgages, waiving appraisals.

How much does the ability to pay cash for a home purchase matter in 2021? Homebuyers who make all-cash Offers improve their chances of winning a bidding war a whopping 290%. Our market is so competitive that any sub-list (or ‘lowball’) Offers in a multiple-offer situation will almost certainly fall to the bottom of the stack of Offers! Most cash buyers now know that they have to come in strong – and most savvy cash buyers DO!

As long as inventory is this low, cash will be king. So, let’s talk with your lender

If buying a home is in your plans this spring, it’s time to start the process. Get a jump on the homes hitting the spring market in Charlotte and then give me a call – (704) 491-3310.

Things to Avoid after You have Applied for a Mortgage [INFOGRAPHIC]

01/15/2021 by Debe Leave a Comment

The Most Common Things to Avoid after You have Applied for a Mortgage [INFOGRAPHIC]

Anyone in the real estate or mortgage business can share a horror story (or two!) that caused someone to lose the home that they were attempting to buy. It’s one of the toughest times in our business – it’s absolutely heart-wrenching!

A buyer finds their dream home, applies for a mortgage, goes under Contract and pays for their appraisal and all inspections and then, with the lull in things to do for the new house & mortgage, goes on a spending spree! Everyone wants new furniture for their new home, new rugs, new lighting…some even feel that they have to keep up with the Jonses with a new CAR to go in their new garage!

Here are a few things you should avoid, at all costs, after applying for a mortgage:

Yes, there’s more! Here are a few additional key things to make sure you avoid after applying for a mortgage to help make sure you still qualify for your loan when you get to the Closing table.
After documentation is provided and Due Diligence is up, buyers often forget that changes in income, assets, or credit need to be discussed with your lender. You don’t want to unintentionally jeopardize your mortgage.
BEFORE doing ANYTHING financial in nature, be sure to run it by your lender. In fact, my best advice is just NOT to do anything financial in nature unless your lender tells you to do so!

Is Now the Time to Buy a Retirement Home?

10/15/2020 by Debe Leave a Comment

Is Now the Time to Buy a Retirement Home in Charlotte NC?

What is the magic age for retirement?

When you hit that 50+ age, it seems statistics about age jump off of the page as though they are targeted directly at you! Today, reading a Keeping Current matters article, I was, once again, reminded of that. Did you know that every day in the US, roughly 10,000 people turn 65. That number is expected to more than double by 2050 with approximately 20% of the population being 65 and over then. At my age, that is staggering/sobering statistic!

Prior to the 2020 pandemic, most people waited until they retired to make a move to the beach, the golf course, lake or even their favorite senior living community. Plans for settling in for the later years in life were pushed to the very end of work careers. Speaking as a baby boomer who shifted priorities, this year, the game changed for many pre-retirees.

The new age of working remotely

The ability to work remotely is expanding homeowners’ geographic options and driving their motivation to buy those dream homes/locations now, rather than waiting to pursue their dreams. If the links or the sun and the water are calling your name and you have the ability to work remotely for the foreseeable future, now may absolutely be a great time to purchase that lake bungalow you’ve always dreamed of or that ranch home in the sprawling countryside. Whether it’s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to build upon and in the end, round out a long and meaningful career.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“The pandemic was unexpected, working from home was unexpected, but nonetheless many companies realized that workers can be just as productive working from home…We may begin to see a boost in people buying retirement homes before their retirement.”

According to the 20th Annual Transamerica Retirement Survey, 3 out of 4 retirees (ages 50+) own their homes, and only 23% have mortgage debt (including any equity loans or lines of credit). Since entering retirement, roughly 38% have moved into a new home. They’re selling their current homes at a profit in today’s low inventory market and using their equity to purchase their future retirement homes. It’s a win-win.

Why Boomer Homeowners Are Making Moves Now

The pandemic this year made us all more aware of the importance of our family and friends, and many of us have not seen our extended families since the pandemic started. It’s no surprise, therefore, to see in the same report that 32% of those surveyed cited the top reason they’re making a move is that they want to be closer to family and friends (See graph below):

The survey also revealed that 73% percent of retirees currently live in single-family homes. With the overall number of homes for sale today hitting an historic low, and with the buyer demand for single-family homes skyrocketing, there’s never been a more ideal time to sell a single-family home and make a move toward retirement. Conversely, and a topic for another article that stems from the pandemic, many people are moving away from the ‘tighter’ city living and to those single family homes in the nearby suburbs. Today’s market is the perfect combination of driving forces to make selling optimal for retirees, especially while buyers are looking to take advantage of historically low interest rates and baby boomers facing less competition in compact living the city offers.

If you’re one of the 73% of retirees with a single-family home and want to move closer to your family, now is a great time to put your house on the market. With the pace homes are selling today, you could essentially wrap up your move – start to finish – before the holidays.

Whether you’re looking to fully retire or to buy a second home with the intent to use it as your retirement home in the future, the 2020 fall housing market may very well work in your favor. Let’s talk about your options in our local market. Call or text me at (704) 491-3310

Another Creekshire Estates Home Sold in Under a Week!

09/11/2020 by Debe Leave a Comment

14711 Brannock Hills Drive
Charlotte NC 28278
MLS #3659002
5BR, 3BA, 3101sqft, .26 acres
Offered @ $384,900

SOLD

Another Maxwell House Group – Re/Max Executive Listing is 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!

Stunning, well-maintained 2-story M/I Richmond floorplan features 5 bedrooms and 3 full baths. Formal dining room with tray ceiling and 2-story foyer greet you upon entering. Spacious kitchen with SS appliances, granite tops, and bar seating. Oversized breakfast nook, great room pre-wired with surround sound, plus a guest suite finish out the main floor. Upstairs, 4 more bedrooms and 2 baths including a huge master suite and plenty of natural light! Garage with built-ins and an upgraded bump-out provide plenty of storage. Fully fenced, quiet backyard with lots of privacy as well as plenty of space between lots/homes in this popular community. This home backs up to tree-save area offering even more privacy. Energy Star rated for high efficiency and covered by M/I’s transferrable structural warranty.

Check out even more details on our app (Charlotte Properties)