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Highgrove Market Report DEC 2017

12/22/2017 by Debe Leave a Comment

Highgrove Market Report DEC 2017

Charlotte, NC – Highgrove Neighborhood

Developed in the late 90‘s and completed in the early 2000‘s by Crescent Communities, the Highgrove neighborhood is located in the heart of South Charlotte’s Ballantyne Community.

Homes in the Highgrove neighborhood range from approximately $625,000 to $1,200,000 with total heated living space ranging between 3,000 and 7,000 square feet with two- or three-car garages (mostly 3-car garages). The homes in Highgrove are situated on lots large enough to accommodate their own swimming pools, between 0.3 and 0.6 acres.

The prestigious homes of exquisite architectural designs by some of Charlotte’s leading custom builders offer variety to this unique but, warm and welcoming community. Built by famed local home builders such as Cyras Homes, Simonini, John R. Poore, Regal Custom Homes, Dienst Custom Homes and Kingswood, the community is not your ‘cookie cutter’ community. Instead, the various styles are so perfectly blended and include Old English Cottage-style homes, French Provincial and French Country, traditional Georgian and English Tudors.

What’s the Market Doing in Highgrove?

Highgrove is a fairly stable luxury community in the South Charlotte/Ballantyne area. High-ranking school assignments and the landscape of the community are huge draws for those relocating to the area. Here is a quick summary of the current market in Highgrove.

There are currently 4 active listings with 14 sales year-to-date in Highgrove. There are no homes currently under Contract in the community at this writing.

List to sales price ratios in Highgrove is at 93.2%

Showings per Listing in Highgrove is currently at 7.9/month

LINKS OF INTEREST (UPDATED EVERY 15 MINUTES)

* Highgrove Homes For Sale in Charlotte
* Charlotte Homes for Sale Near Ballantyne
* Charlotte Homes for Sale in Ballantyne Country Club
* View the most current market report for the Highgrove neighborhood – Give us a call if you would like a more in-depth market analysis.

Search All Charlotte Luxury Homes for Sale in Highgrove

Thinking of selling your Highgrove home? Give us a call at (704) 491-3310 or email CharlotteBroker@icloud.com

What if the Appraisal Comes in Lower than the Contract Price?

12/21/2017 by Debe 2 Comments

What if the Appraisal Comes in Lower than the Contract Price?

You have an accepted offer in on a house for $600,000. You have put down 25%. The appraisal comes in at $580,000.

What do you do?

First, you do not have to pay more than the house is worth, unless your would like to. Meaning you don’t want to risk losing it. Of course this means you would have to come up with $20,000 out of pocket.
You can walk away from the deal since the Contract DOES make execution contingent upon the house appraising at the value of the offer or above – not below.
You can present an addendum to the Purchase Contract to the Seller, stating that you both agree to an adjusted sales price of $580,000 to reflect the current market value. *All other terms & conditions remain the same.
You can compromise with the seller – quite often, especially of late, buyers and sellers are meeting in the middle of the difference in the appraised value.
You can also ‘try’ to have the appraiser correct the appraisal. During the recession, I had a 90% success rate at getting these changes. NOW, it’s a whole new ballgame; the appraisers are over-worked and are not paid to go back and make changes. I’ve seen appraisers turn down making changes when the appraisal comparables used were blatantly erroneous. We do still try but, when the appraisal comes in low, I immediately discuss a Plan-B with my buyers (and sellers when it happens on that side of the transaction).

If you back out, the Seller is likely going to have to accept an offer at $580,000 or less, because the house will probably appraise at that same price or near that price, and no one else is going to want to pay more that the home is worth. However, I’ve seen buyers change lenders, get a new appraisal management company and the appraisers with the new company have no issue getting the home to appraise.

$20,000 is significant income for the average person. Would you compromise your income for any other reason?

Today’s market is in a strong appreciation mode, but most buyers are not willing to pay more than the property is worth. Reaching a compromise is the most common resolution to this issue but, know that you do have options.

REMEMBER: More often than not, the sellers are READY to Close on their home. This is something the Listing Agent is well aware of and an agent worth their salt is going to have that talk with his/her Seller.

If you’re thinking of buying a home in the Charlotte Metro region, let’s talk! We know how to address all of the hurdles that you’ll face with buying a home and would love the opportunity to work with you. Call or text (704) 491-3310 or email DebeM@remax.net

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

Another One Bites the Dust in SouthPark!

03/19/2017 by Debe Leave a Comment

Another One Bites the Dust in SouthPark!

Another SouthPark Home Hit the Market this Weekend and is now GONE!

CHARLOTTE NC: Absolutely lovely home, hit the market in SouthPark this weekend and immediately received multiple Offers! We held one of our most-attended open houses yesterday and had buyers asking to write Offers immediately!

With our preparation, knowing what the buyers who are looking in our area want, taking the time to premarket this home and marketing this one like nobody’s business, the deal was sealed in under 24 hours!

If you’re thinking of listing your SouthPark home, I live in SouthPark and have a keen sense of what our buyers are in search of. I’d love to talk to you about getting your home listed and sold for top dollar in a very short period of time!

Rest assured, our marketing plan is tailored for each and every home that we sell. One of our techniques that we use for every sale is our YouTube walk-through virtual tour. This is NOT a slideshow, rather an actual walk-through tour that helps your prospective buyers know whether the floorplan of your home actually works for them.

Here is the virtual tour we used to market this SouthPark home for sale:

If you’re a buyer searching for a home in the SouthPark area, sorry you missed this one! We constantly have our ears to the ground for SouthPark homes coming on the market and are happy to let you know what’s coming up. Let me know your specifications by phoning or texting me at (704) 491-3310 and I’ll let you know what we have coming soon or that just hit the market!

If you’re thinking of selling in SouthPark, let’s talk! I would love to help you, as I did this SouthPark seller, getting top dollar in the shortest amount of time on the market!

Charlotte Luxury Home Market Report | DEC 2016

12/31/2016 by Debe Leave a Comment

Charlotte Luxury Home Market Report | DEC 2016

How’s the Charlotte luxury home market doing? To wrap up 2016, here are the final numbers for December’s luxury home sales:

82 Charlotte luxury homes sold and Closed in December, 2016.
Average list price was $827,996.
Average sales price, $784,963, a 94.8% list-to-sales-price ratio.
Average square feet was 3,816 and sold at $210.88/square foot.
Average beds & baths, 4 & 4.
Most sales in a single community in the luxury price range were:
- Myers Park – 11 sales
- Dilworth – 7 sales
- Cherry – 6 sales
- Ballantyne Country Club – 3 sales
- Cotswold – 3 sales
- Estates at Oakhaven – 3 sales

Visit www.CharlotteLuxuryHomeTeam.com for more information and to search for luxury homes in the Charlotte Metro region. 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 luxury real estate needs. We would love to share our knowledge of our luxury market with you!

Seller Disclosures – Disclose, Disclose, Disclose

12/11/2016 by Debe Leave a Comment

Seller Disclosures – Disclose, Disclose, Disclose

Property Disclosures a few questions that it truly pays to answer…and answer honestly. It’s called the seller Disclosure form, and it’s one of the most important things you, as a seller, will fill out in your home sale. From new landscaping and a fresh coat of paint, to appliance upgrades and room remodeling, homeowners will go to great lengths to present their Charlotte homes for sale in the best light possible. However, sellers need to be aware that while they’re fixing up current flaws in their home, they shouldn’t cover up past ones.

So what is a seller disclosure? It’s a form that outlines any conditions that might affect your property’s livability or value. Items a seller would disclose to potential buyers include termites, radon or other environmental issues, foundation problems, broken home mechanical systems or appliances and even things unrelated to your home – but, related to you: Whether you are a real estate agent or your agent has ownership in your property OR your agent is related to you.

Disclosure laws vary from state to state but, in North Carolina, the areas are easily defined and it’s worth taking the time to avoid liability down the road – even after Closing. Sellers who do not disclose major issues – let’s say an issue with the HVAC system, leaking pipes or mold growing in the basement – could be on the hook for paying to remediate the problems OR wind up in court, sometimes long after closing.

Marketing a home “as is” or representing that you didn’t know about certain problems, doesn’t release you from the responsibility of completing a full and honest Disclosure.

Most buyers will likely hire a home inspector during their home purchase to catch these types of issues but, if you’re aware of major repairs and problems ahead of time, it’s better to be safe than sorry and disclose, disclose, disclose ANYTHING you might know. It will save you time, money and (quite possibly) the entire transaction if you’re upfront with potential buyers.

Here’s a great article from the American Bar Association with more details about the legal responsibilities sellers have in the Disclosure process to buyers.

What is Absorption Rate Pricing?

09/08/2016 by Debe 7 Comments

What is Absorption Rate Pricing?

Absorption rate pricing is an old but, often over-looked method used by real estate professionals to calculate the value of your home. The calculations are based upon the principles of supply and demand. Because appraisers are now required to use Absorption Rate Pricing to determine your home’s value, it is critical that you understand how the process works.

There are only a certain number of Charlotte homes that will sell in any market in any given period of time. For example, if 12 homes sold in the last 12 months in a given market, that means that the market will absorb 1 house per month on average. If there are 10 homes currently on the market, there is a 10 month supply.

· A 6-month supply is considered a balanced market.

· Less than 6-month supply is considered a sellers market.

· More than a 6-month supply is considered a buyers market.

To calculate Absorption rate, your Realtor® /appraiser will do the following:

Comparing Apples to Oranges? Doesn't work in real estate! — Comparing Apples to Oranges? Doesn’t work in real estate!

1. Conduct a search for Charlotte homes sold in the past 3, 6 and 12 month period, which are similar to your home based upon:

location
condition
size
features
amenities
price

From these numbers, the average sales per month will be calculated. This reflects the demand in the market.

2. Then, they will conduct a search for all active listings of homes on the market for sale which are similar to your home in: location, condition, size, features, amenities and price.

3. The monthly supply of homes on the market will then be calculated, resulting in the average number of home sales per month.

4. In addition, you will need to rank your home compared to the competition in the categories of: location, condition, size, features and amenities. This analysis will help determine the best asking price. If you’re in doubt, visit the competitive active listings to see that your home is positioned to sell within the timeframe you’ve allowed.

5. Based upon the positioning of your home versus the competition’s position and the monthly supply on the market, your Realtor® will be able to calculate the odds of selling your home in 30, 60 or 90 days.

Here is an example of an Absorption Rate Analysis that I shared with my clients a few years ago–my, how the market has changed! Remember, positioning is everything in any market!

Data above from CMLS, deemed reliable but, not guaranteed.

Charlotte Real Estate and Relocation Specialist

Debe Maxwell offers many years of experience helping those relocating to the Charlotte, NC area as well as providing an aggressive marketing strategy for homes for sale in Charlotte. If you’re relocating to Charlotte, NC Debe will help you locate first, then find the perfect Charlotte neighborhood and the perfect Charlotte home for sale that fits your lifestyle and your budget to a T.

Search Charlotte Neighborhoods
Search all Charlotte Real Estate and Homes for Sale

For your relocation needs, email Debe or give her a call today!

Debe Maxwell, Realtor®/Broker/CRS
RE/MAX Executive
The Maxwell House Group
2901 Coltsgate RD, Suite 100
Charlotte, NC 28211
(704) 491-3310

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Highgrove Market Report DEC 2017

Highgrove Market Report DEC 2017

Charlotte, NC – Highgrove Neighborhood

What’s the Market Doing in Highgrove?

List to sales price ratios in Highgrove is at 93.2%

Showings per Listing in Highgrove is currently at 7.9/month

LINKS OF INTEREST (UPDATED EVERY 15 MINUTES)

Search All Charlotte Luxury Homes for Sale in Highgrove

What if the Appraisal Comes in Lower than the Contract Price?

What if the Appraisal Comes in Lower than the Contract Price?

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

Another One Bites the Dust in SouthPark!

Another One Bites the Dust in SouthPark!

Another SouthPark Home Hit the Market this Weekend and is now GONE!

Charlotte Luxury Home Market Report | DEC 2016

Charlotte Luxury Home Market Report | DEC 2016

How’s the Charlotte luxury home market doing? To wrap up 2016, here are the final numbers for December’s luxury home sales:

Seller Disclosures – Disclose, Disclose, Disclose

Seller Disclosures – Disclose, Disclose, Disclose

What is Absorption Rate Pricing?

What is Absorption Rate Pricing?

To calculate Absorption rate, your Realtor® /appraiser will do the following:

Charlotte Real Estate and Relocation Specialist

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