Charlotte Real Estate Podcast with Jay White

Here are the main reasons why our market is so crazy right now. Everyone knows we are living in boom times as far as sellers are concerned. It's increasingly common for sellers to find themselves in a multiple-offer situation, and prices keep going up. Naturally, this has a lot of people asking, “When is the market going to crash?” Buyers are understandably frustrated by the state of the market. Maybe they've lost a multiple-offer situation a few times and have decided to sit the market out until it crashes. The bottom line is, the market is showing no signs of slowing down, never mind crashing. I strongly advise against buyers sitting things out until a crash occurs, and here are my reasons why.  The first reason is that the market isn't being driven by mortgage-backed security issues like the crash in 2008 was. Instead, today's market is the simple result of low supply and high demand. The decrease in supply started all the way back in 2008 and 2009. With the market in shambles, it didn't make sense for builders to start building homes during the crash. Only until very recently have builders caught up to the building rates from before 2008. It is estimated that the market is missing 10 to 12 million homes that never got built during this period.  Also, the baby boomer generation is getting older, but they're holding on to their homes. Home healthcare was not available at the quality it is now 10 years ago, so when people grew older, they would typically move to a retirement home. Now, they simply hire people to bring them healthcare while keeping their property. “The bottom line is, the market is showing no signs of slowing down, never mind crashing.” While we're talking about generations, they can also help explain the increase in demand. For example, millennials saw the market crash in 2008 and decided homeownership was too big of a risk. Because of this, their demand for homes was stifled for a bit but is coming back strong as they get older. Meanwhile, Generation Z's demand for homes is coming on early. Combine this with low interest rates, and the high demand we see today starts to make a lot of sense.  This all sounds pretty crazy, but here's why I don't think it's going to end anytime soon: It's going to take more inventory and less buyer demand for the market to balance. What I predict will happen is that when interest rates rise, buyer demand will go down slightly. As people continue to sell their homes, the market should slowly start to stabilize.  You may have heard people talking about ‘zombie' or ‘ghost' foreclosures, or in other words, foreclosures that haven't come to the market yet. They sound spooky, but the reality is that there is no evidence they're happening at a high rate at all.  When you put all the above factors together, it becomes clear that a crash is not happening anytime soon. If you'd like to sell in the hot market or take advantage of low interest rates, give us a call or shoot us an email. We'd love to help any way we can.

First-time homebuyers with student debt may qualify for FHA loans now. Today we're talking about the Federal Housing Administration and some changes they've just made to help first-time homebuyers. About 40% of first-time homebuyers have student debt. Over the last five years, mortgage brokers and mortgage banks have had to factor student debt into their debt-to-income ratio calculation. If you have $1,000 worth of student debt that you pay every month, then you'll qualify for $1,000 less on your loan. This has a major effect on buyers being able to borrow for a mortgage or buy a home, so the Federal Housing Administration released a statement on June 18 saying that mortgage lenders can no longer factor in student debt to qualify for a mortgage. This will open up a lot of opportunities for first-time homebuyers who are carrying student debt and who otherwise, in the past few years, would not have been able to buy a house. If you have student debt and want to find out more about buying a house or see if you qualify now, give us a call at 704-626-2479 or visit us online at thewhitegroupblog.com.

The year-end numbers are in for the Charlotte real estate market, so I have a quick update to share with you today. Over the past year, our number of new listings is up, sales are up, and inventory is down. The days on market are also dropping steadily, with the median price jumping up 11.1% from $242,000 to $269,000. These numbers may just be measuring one month, but they’re a good indicator of where our market is headed.  Interest rates are still low, which is keeping the market hot. We haven’t seen any signs that they might go up, but we’ll be keeping an eye on them for you. If we can help you or answer any questions, feel free to reach out via phone or email today. We look forward to hearing from you.

What’s happening with the Federal Reserve and interest rates?  The Fed met again recently and decided they would lower interest rates. A lot of people think this applies directly to mortgages, meaning that anytime the Fed lowers interest rates, mortgage rates drop as well.  This is partially true, but the effect isn’t always immediate. Sometimes the mortgage industry anticipates these rate drops and prices themselves ahead of the Fed meetings.  Now that we’re into the fourth quarter of 2019, rates are at an all-time low. It’s a great time to buy a home, and we have a product called the Keller Mortgage ZeroPlus loan that can help you. It’s a no-fee mortgage (no origination fee, processing fee, or application fees), which essentially makes it a free mortgage. They still have competitive rates, too, because the lenders don’t spend a lot of money advertising for their business.  “Rates are at an all-time low.” Additionally, the “Plus” part means that if the mortgage balance is over $150,000, you’ll get a $1,000 lender credit that you can use for third-party expenses at closing. This is also a great option if you’re looking to refinance. If you’d like to know more about this loan product and what it can do for you or you have any other real estate questions, don’t hesitate to get in touch with me. My team and I would love to help you.    

The world has been trained to think that spring and summer are the best times to sell a home, but is that true? While more sales do happen during these seasons than fall and winter, there are a few reasons why selling during the holidays is also a great opportunity.  First, off-season buyers are more serious than peak-season buyers. These buyers need to move because they’ve been transferred into the market or they don’t have as much cash and their offers weren’t as strong in the spring and summer. Additionally, because there are fewer sellers during the colder months and fewer homes on the market, you’ll face less competition during the holiday season. “Because there are fewer sellers during the colder months and fewer homes on the market, you’ll face less competition during the holiday season.” Furthermore, the tasteful decor that pops up during the holiday season goes a long way toward putting buyers into a more positive mood when they walk through your home. On that note, here are a few tips to remember when decorating your home while it’s listed for sale: 1. Don’t block important selling features (e.g., the fireplace, stairs, or stain-glass windows)2. Tone down the size of your Christma tree3. Don’t leave wrapped gifts all over the place, and don’t leave expensive presents under the tree4. Use more splashes of red than green—red is more emotionally appealing5. Resist the urge to hang any banners and use greenery instead (I would encourage you to use artificial greenery so as not to set off any allergies)6. Display centerpieces made of pine cones and other wintery pieces from nature 7. Set out a plate of cookies on the counter8. Hire a home stager Lastly, remember that your first step toward a successful holiday home sale is hiring an experienced real estate agent with a plan. If you’d like to list your home now or you have any other real estate questions I can take care of, don’t hesitate to reach out to me. I’d love to help you.

I was having lunch with my grandmother recently and she told me about how she had bought her home for $37,000 in South Park in 1966. That same 2,500 sq ft. colonial is now worth $600,000 in today’s market. That’s an incredible increase in value with relatively little work done on the home after all these years. This got me thinking about how much homes appreciate and how much they’ve appreciated in just the last decade. If you would have invested in a single-family home for $160,000 in August of 2009, it would be worth $269,000 today. That’s a 68% increase. For a condo/townhome, a $137,948 purchase in August 2009 would be worth $210,000 today. “Home values in Charlotte have increased by 68% over the past decade.” The great thing about real estate is that you don’t have to pay for the entire investment all at once. You can put a down payment on the property while someone else pays it off. You can really increase those appreciation numbers when you minimize what you put into it. If you have any questions about investing in real estate and how it can build your wealth, or if you have any other questions about real estate in general, don’t hesitate to give me a call or send me an email today. I look forward to hearing from you soon. 

In today’s real estate market update, let’s compare the numbers from August 2019 to August 2018 to see how things have changed in the last year and what that could mean for our market’s future. New listings:  2018—5,699 2019—5,616 Net decline: 1.46% Homes for sale: 2018—11,416 2019—9,916 Net decline—13.11% Pendings: 2018—4,300 2019—4,796 Net growth—11.53% “In combination with the fact that interest rates are historically low, we don’t see any market factors that will cause home prices to drop.” Closed sales: 2018—4,876 2019—4,958 Net growth—1.68% Median days on market: 2018—13 days to sell 2019—14 days to sell Net growth—7.69% Median price: 2018—$245,000 2019—$257,000 Net growth—4.9% A lot of people have been asking whether we anticipate a bubble in the future. Well, as the number of new listings and homes for sale continue to fall, the rest of the numbers will continue to rise. And as Charlotte gets bigger, the demand for homes will remain, causing home prices to increase. In combination with the fact that interest rates are historically low, we don’t see any market factors that will cause home prices to drop. Hopefully, this gives you some insight into the market and where we might be headed. If you have any questions or if you’re looking for a real estate team to help you buy, sell, or invest, reach out to the White Group. We’d love to help you. 

As you know, we host a series of real estate seminars, and today we want to invite you to join us at our next one on September 12, 2019. This seminar will focus on investors. We’ll not only teach you how to acquire and manage investment properties, but we’ll also go over the pros and cons of owning them. Afterward, you’ll truly know whether investing in real estate is right for you.  To find out more about this seminar, including how to register, all you have to do is visit Whitegroupevents.com. If you have any questions in the meantime, don’t hesitate to reach out to us. We’d love to speak with you. 

Throughout the year, we run a couple of different real estate seminars for our clients and community members. Coming up on September 12 at the Carolina Ale House, we have a buyer seminar series called “Tips and Tricks for Today’s Homeowner,” and you’re invited. Check out the event details at www.WhiteGroupEvents.com. We hope to see you there! “”

Hi, I’m Kevan Cohn from Southland Real Estate and I have some exciting news to share: I have officially partnered with the White Group of the Keller Williams Ballantyne area! The reason I’m so excited about this is that it means so much more for you-our clients. The White Group has world-class service, and I’ve already learned so much from them. In the near future, you should expect to start receiving awesome communications from them, and I just wanted to let you know who they are. Thank you all for your support in everything I’ve done over the last five years of business. I fully expect this development to only increase the level of service I provide you. As always, if you have any questions regarding this new partnership or about real estate in general, don’t hesitate to reach out to me. I’d love to help!

What does our Charlotte market look like as we close the books on May?  Let’s look at the year-over-year numbers comparing this month to May of 2018 to find out: The number of homes for sale dropped from 2,768 to 2,752 The number of homes closed increased from 2,104 to 2,175 The average days on market increased from seven to 11 days The median sale price increased from $260,000 to $265,000 The average 30-year mortgage rate dropped from 4.47% to 4.14% When you take all of these numbers into account, our market is very healthy. A lot of buyers are sitting on the fence right now waiting for a market correction, but with less inventory, lower mortgage rates, and prices on the rise, it doesn’t look like that correction is going to happen anytime soon. It’s a great time to buy now, and if you bought a home within the last year, it’s also a great time to refinance. “It’s a great time to buy now, and if you bought a home within the last year, it’s also a great time to refinance.” Due to low inventory, now is a great time to sell too because you’ll face less competition from other sellers. Our average days on market is rising, though, so don’t push your luck as far as pricing goes.  If you have any other questions about our market or you have any other real estate needs, feel free to reach out to me any way you can. I’d love to speak with you.

In the last 10 years, real estate has become a hot subject for reality TV. These programs can be fun to watch, but they tend to miss the mark as far as accurately portraying the real estate process goes.  There are four main trends that appear often in reality TV, but should never transcend the screen and show up in reality:  1. Tacky staging. Making strategic upgrades can greatly boost your home’s value, but scraping the bottom of the barrel to complete these upgrades will have the opposite effect. Buyers love stainless steel appliances, for example, but this doesn’t mean you can go out and buy the cheapest stainless steel refrigerator out there and expect it to help your home sell.  2. Cheap execution. Do-it-yourself projects look great on TV because they’re being done by professionals. If just anyone tried to replicate these projects without professional help, you can be sure the results would be less than stellar.  “Do-it-yourself projects look great on tv because they’re being done by professionals.” 3. Distasteful paint jobs. Your home should appeal to as many buyers as possible. So even if you absolutely love your bright orange walls, they may make it difficult for you to bring in offers. It’s best to stick to clean, neutral color palettes. 4. Unfinished projects. It’s common on reality TV to see a totally renovated bathroom in the same home as a kitchen that’s straight from the 70s. This may offer good entertainment value, but having a half-finished home in real life will cost you dearly as a seller. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon. 

Keller Mortgage’s new Zero Plus Program is here, and we’re going to tell you all about it today. So what is the Zero Plus Program? An alternative to traditional mortgages, Keller Mortgage’s Zero Plus Program allows buyers to secure a mortgage without origination fees or lender fees. A recent client of ours saved $4,200 using this Program instead of a traditional mortgage package. If you’d like to learn more, feel free to give us a call or visit www.kellermortgage.com. We look forward to hearing from you soon.

If you’re a real estate investor, are you managing your own property? Most people who manage their own property don’t do so because they enjoy it—they do it to save on the management fee. Through our marketing techniques, we’ve been able to increase rent up to 9.5% on average, which puts money back into your pocket. To learn about these marketing techniques, check out our website WhitePropertyMGMT.com. If you don’t own any investment properties but are interested in becoming a real estate investor, we invite you to attend our investor’s seminar on April 4 at Carolina Ale House. Click here to register.

Congratulations—it’s almost closing day!  However, before congratulations are fully in order, and before the keys are handed over to you, there are a few things you need to do in order to be prepared for the closing table. Clients often ask what needs to be done to schedule their closing. We encourage our clients to take time off from work on the day of their closing. That way, they’ll have all the time they need to get their documents and financing in place, and also to be able to go and see the house after they’ve closed on it. It usually takes about an hour to get all the paperwork signed at the attorney’s office, but you may want to prepare to spend a little extra time there, just in case something pops up at the last minute. “We encourage our clients to take time off from work on the day of their closing.” You’ll also need time to do a final walk-through, which happens usually within 24 hours before closing. This is the time for you to go through the house to check for any damage that might have occurred since your last visit. Lastly, you’ll need to bring certain documents with you to the closing session, including your driver’s license and anything else that pertains to your home. Feel free to share this information with anyone who will benefit from it! In the meantime, if you have any questions, don’t hesitate to reach out to us. We’d love to speak with you.

When a buyer drives past your home, the first thing they’ll see is your front door. This means you want it to make a good first impression, and the best place to start is with the door’s color. Let’s go over the three primary options you have when choosing the color of the door: Traditional. Black is a basic but striking choice for your door’s color. If you have white trim, it creates a beautiful contrast. Bold. Think color—oranges, yellows, and reds. This will make it pop immediately to anyone who drives by. Bold colors are especially popular in coastal regions. Somewhat subdued. This usually means simply matching the trim of your home. You’ll end up being somewhere between a high-contrast black and a bold, eye-popping color. “You want it to leave a good impression, and the best place to start is with the door’s color.” If you have any questions or need further information, feel free to reach out to us.

If the concept of moving sounds exhausting in advance, it could be that you haven’t been using any of the following five tips for simplifying your next move. If you do these before you even receive the first offer on your home, your future move will already be easier than it has been in the past. 1. Sort your belongings into groups. You should have a group of:      a. Things you need     b. Things that you need, but not immediately     c. Things that you should give away 2. Give yourself plenty of time. Be patient; it takes time to get organized. You’ll be going through a lot of things that you haven’t seen in quite some time, and you’ll want to carefully make the decision to either keep it, throw it out, or donate it. “Stop what you’re doing right now and make a plan for your move—mark it on your calendar.” 3. Pack your things into clear and/or labeled containers. Be sure to clearly designate what is inside each box or container, as well as what room it’ll go in once you’ve brought it to your new home. 4. Recycle unnecessary papers. This includes magazines, books, newspapers, and things you’re not using and don’t plan to in the future. These things clutter up your home and make it seem much smaller than it really is. 5. Do it now. Stop what you’re doing right now and make a plan for your move—mark it on your calendar. Setting up a clear time frame for when your organization needs to be finished will save you so much time and stress when you receive your first offer. Hopefully, these tips help make your next move simpler and stress-free. If you have any questions, please don’t hesitate to reach out to us. We’d be glad to help.

By now, you’ve probably all heard that the government has entered a temporary shutdown, prompted by President Trump’s concerns about building a wall for border security, among a few other factors. It’s a politically charged moment generally, but how will the shutdown impact the real estate market? Today I’ll explain a few things that buyers, sellers, and investors should keep in mind. Some agencies that process the paperwork for closings have been shutting down, as well—if you have to have tax returns filed for 2018 in order to get proof for your mortgage, that process will be delayed. Further still, if your home is in a flood plain or requires flood insurance, you can count on that being delayed, too.

With the technological advances of the past few years, 3D modeling has provided many industries with tools and opportunities for advancement. Real estate is no different: Using 3D models to give buyers virtual tours of homes has been tremendously successful. How does it work? We use a camera that spins around on axis inside a property, taking multiple pictures from all angles and a computer program stitches it all together to render a 3D model of the home.  This is a big deal for the industry. With this, someone sitting all the way across the country can take a tour of the house from the comfort of their own chair. That allows you to widen the pool of potential buyers looking at your home, enticing them without having to make them travel a long way to view it. 3D modeling can mean the difference between going through 20 showings before getting an offer and going through just five before an offer is made.  “3D modeling can mean the difference between going through 20 showings before getting an offer and going through just five before an offer is made.” With virtual reality, you can hold your first and second showings virtually, meaning that process will go much quicker. Likely, there will be an in-person tour following these virtual showings, just so the potential buyer can be sure that they’re getting what has been advertised. But overall, 3D modeling can speed up the process and pave the way for a more successful home sale. If you have any questions about incorporating 3D tours into a home sale or about selling a home in general, you are always encouraged to reach out to the White Group. We’d love to help.

If you really want to boost buyers’ interest in your home, you’ll want to make sure it’s staged. Here are three simple ways to make sure your home is well-staged and ready for showings: Paint in the kitchen. Stained and dated kitchen cabinets can be a turnoff for buyers. Don’t empty your wallet to have them replace; repaint them instead! Simplify the bedrooms. You want to remove things that may distract buyers, allowing them to focus on the room more easily. Take out any unneeded furniture to make the room seem more spacious and uncluttered. Clean the bathroom. Specifically, give some extra care to the showers and mirrors. More than anything else, ignoring these two areas can make a bathroom look less than stellar. “These tips won’t break the bank.” These tips won’t break the bank whatsoever, but the time you invest will pay dividends during showings. If you’d like any more information or have any questions, feel free to reach out to us. We look forward to hearing from you.   

Congratulations! You’re under contract on your new home. Now, it’s in your best interest to have a home inspection on the property by someone who knows what they are doing.  How can you make sure that you hire the right home inspector? Here are five tips:   1. What are their qualifications? What did they do before real estate inspecting? Were they a banker, or were they in construction? There is a big difference there. How many years of inspection experience do they have? How many inspections have they performed? 2. Ask for sample reports beforehand. That way, you can see what they look for in an inspection and how they format the reports. Sample reports let you know what to expect from your own home inspection. 3. Ask for references. Does the inspector have a list of people whose properties he or she has inspected that can speak about their experience with the inspector? Are there online reviews that corroborate that the inspector is a great inspector?  “How many home inspections have they done?” 4. Ask about memberships. What professional groups do they belong to? They should all belong to the state board, but what other groups do they belong to that might benefit you? 5. What warranty or insurance does the inspector have? If they do make a mistake or leave something out of a report, what are they willing to do to make it right?  The bottom line is that while ignorance is bliss, that’s not true in real estate. It pays to know what you’re getting into before you close on a property.  If you have any questions about home inspections or the home buying process, just give me a call or send me an email. I would be happy to help you!

Your appliances are a vital part of the functionality and general feel of your home. Here’s how to keep them in good shape for as long as possible. Today I have a few tips you can use to keep your home appliances in great working order. Extending their lifespan as much as possible will save you time and hassle later on down the road. Be sure to keep them clean—scrub your oven and range and don’t let food build up around your burners. Defrost your freezer at least once per year or any time you have more than a half-inch of frost built up. To keep your HVAC and refrigerator unit in good shape, replace their filters regularly. To find out other tips about how to keep your appliances in top shape, watch my latest video.

Buying a home isn’t cheap. Here are six different costs that you may not know about that are essential to any home purchase. When you’re in the process of buying a home, there are six essential things that you need to think about before making an offer on a property: 1. Loan pre-approval letter. You’ll work with your lender to get this. They will check out your credit and your financial situation in order to issue the letter. This shows the seller and the listing agent that you have the ability to purchase the property. 2. Due diligence fee. In North Carolina, you’ll pay a fee to take the property off the market, which keeps someone else from coming in to buy it at the same time. The fee ensures you have the time to investigate the property more closely and decide whether you want to move forward or not. 3. Earnest money. Think of this as good faith money. If, for some reason, you don’t close after the due diligence period is over, the seller gets to keep the money. If you do close on the property, this money is applied toward your down payment. “Additional fees can range from home inspection to appraisals and more.” 4. Down payment. This is the money that the bank is requiring you to put down on the property. 5. Closing costs. In any real estate transaction, the buyer is going to be responsible for certain costs associated with purchasing the property, making the loan, doing the title search, etc. This money will be due at closing. 6. Additional fees. This could be anything from home inspections, to surveyors, to appraisers. These are significant fees that add up. If you have any questions about any of the items on this list or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Today we’ve got three tips to share that will help out homebuyers in today’s market: 1. Make sure you’re set up for instant property alerts. Not all websites are created equal because not all websites have direct access to the information on the MLS. It’s important for you to work with an agent that has the information from what we call an IDX feed. This will allow you to get instantaneous information about homes that are on the market. 2. Hire a fast-acting agent. You need an agent who is working in the business full-time and one who is tech-savvy. This will help you as you’re moving through today’s market to give you the best opportunity to find the right home. “You need a tech-savvy agent who is working full-time in the business.” 3. Be prepared to make an aggressive offer. After you’ve looked at several homes and you’ve made a decision, go ahead and put your offer together. Take time to talk to your agent about how to make your offer stand out against the other offers that may be presented to the seller. A good agent who has had experience working with buyers in this market knows what it takes to make your offer look better than others. We hope this information was helpful to you. Feel free to send it along to anyone else who you think it might help as well. In the meantime, if you have any questions for us or need any advice about buying a home, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.

Strategically staging your home can help you achieve a faster sale and a higher price, and there are a few key tips our team recommends when taking on this task.  1. Boost your property’s curb appeal. Changing out hardware, sprucing up your yard, and painting the exterior of your home can go a long way in making your property stand out. Each of these changes will make your home appear cleaner, and clean sells.  2. Create ambiance. Your home should appeal to all five of a buyer’s senses. So make sure your home has lots of light, subtle fragrances, and quiet music playing in the background. To play on buyers’ sense of touch, incorporate textured objects that evoke warmth, such as blankets, throughout the home. Also, it never hurts to have a plate of candy or fresh-baked cookies ready for buyers to enjoy when they tour your listing. “Beyond showcasing your property, it’s important to showcase the lifestyle buyers can expect to lead while living there.” 3. Embrace floor space. Before buyers enter your property, it is essential that you remove clutter. Don’t leave anything unnecessary lying around.  4. Emphasize architectural details. It’s always a good idea to highlight the features that make your home unique.  5. Play up the idea of lifestyle. When our team lists properties, we profile the type of buyer we believe will be interested in it. Beyond showcasing your property, it’s important to showcase the lifestyle buyers can expect to lead while living there. If you have any other questions or would like more information, please feel free to give us a call or send us an email. We look forward to hearing from you soon.

“Avoid doing any of these things when making an offer.” As a buyer, there are six ways you can scare off a seller when making your offer: You’re not pre-approved for your mortgage. 2. You ask for too many contingencies. 3. You request a long list of home repairs. 4. You’re working with a shady or unknown lender. 5. There are too many red flags about your financial situation.6. You ask for personal items within the home.  To hear my full message about this topic, watch my latest video.

At some point, your agent is going to ask you to commit to the professional relationship you have with them. Keep in mind that when they ask this, they are also promising to make a commitment to you. So why is this in your, and the agent’s, best interest? It has long been said that you get what you pay for, and this is true in real estate. If you are partnering with a laundry list of agents on the sale of your home, how hard is any one professional really going to work for you?  “When our team members sign an agent agreement, we take our service to the next level.” When our team members sign an agent agreement, we take our service to the next level. We will get out there and find properties for our clients that are not even on the market yet. This is not something we would do for someone we are not working with exclusively.  This is exactly what makes exclusivity so important in the realm of real estate, especially as it relates to buyers.  If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Here are four cost-effective tips that will help prepare your home for the market and boost its value in the eyes of buyers.  First, improve your landscaping. Curb appeal is crucial to a buyer’s first impression when they pull up to your home, so freshen up the bushes, mow and remove weeds from the yard, and plant some brand-new flowers.  Second, clean the outside of your home. A dirty exterior will make buyers think the interior has not been taken care of either.  “A dirty exterior will make buyers think the interior has not been taken care of either.” Third, make repairs. You want your home to be in the best condition possible, so take care of any major defects like broken windows, faulty doors, or any kind of foundational issues.  Lastly, make your front door inviting. Put a fresh new coat of paint on it that contrasts with the rest of the home.  If you would like to know more cost-effective tips to improve your home before listing it or you have any other real estate questions, please feel free to reach out to me. I would love to help you. 

So you’ve decided to sell your home. Most sellers think that the work is done at this point, but many are rudely awakened by a more stressful experience than they expected.What can you do to reduce seller stress? With any luck, you’ve recruited a great Realtor. A truly great Realtor has the responsibility of carrying the stress for their sellers; we’re the ones with the background, experience, and training to navigate most circumstances you’ll come across. In our experience, the times that are the most stressful for sellers are when they’re not sharing information with their agents because they don’t trust them or they don’t want to be forthright about what’s actually going on. “A truly great Realtor has the responsibility of carrying the stress for their sellers.” As the old saying goes, “When one door closes, another one opens.” It’s our job to be proactive and look for solutions, not to be reactive. The more information we have, the better we can reduce the stress for you. If you have any questions, please feel free to reach out to us. We’d love to talk to you.

Here are some home repairs that you can’t skip out on if you’re a homeowner who is trying to maintain the value of your home: Caulking showers and tubs. Caulking windows and doors. Changing out your HVAC filters. Looking into any water-related issues on the roof or with the plumbing. Looking for peeling paint around the interior and exterior of your home. Looking for any exterior drainage problems. Any areas with pooling water. “We’d be happy to come take a look.” If you have any questions or want to have someone take a closer look at any of these things for you, don’t hesitate to reach out and give us a call or send us an mail. We look forward to hearing from you soon.

Interest rates can have a direct impact on buying power. Today, I’d like to explain how this works. In January, interest rates were at 3.98%. Today, they are at 4.5%. Even having only risen slightly more than 0.5%, this constitutes a big change in buying power. Let’s take the example of a home priced at the current market average of $260,000. In January of this year, a buyer would be left with a $208,000 mortgage after paying 20% for a down payment. This amounts to a principal and interest payment of $987 per month. To have the same monthly payment today, you’d have to have a mortgage of $195,000 on a house worth $234,000. Overall, this is a 10% decrease in buying power. “If you’re thinking of buying or selling, come have a conversation with my team and me as soon as possible.” We already know that interest rates are going to continue to rise. So, what happens when they do? We’re expecting three or four jumps in interest rates this year and each jump will cause a decrease in buying power. So, if you’re thinking of buying or selling, come have a conversation with my team and me as soon as possible. We want to place you in the best financial situation possible and lock in your rate before they rise again. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

At some point, an agent is going to ask you to commit to them. Of course, this also means they’ll be committing to you. This exclusivity comes about when you and your agent sign a buyer’s agency agreement. Agents who don’t work exclusively for you are less motivated. However, an agent who has committed to your transaction through a buyer’s agency agreement will go above and beyond for your needs. When my team and I work exclusively with a client, we even find properties that aren’t listed on the market yet. “Who you work with matters.” Who you work with matters. If your agent is already doing their best to serve you before you gain exclusivity, you’re going to want to commit to them. Exclusivity is so important for buyers in today’s market. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

After you purchase your home, at some point you’ll need repairs, maintenance, and perhaps even some remodeling work done to it, and we can help you with that. We close on a property once every two and a half days, which means we’re in touch with a lot of vendors who can take care of these things for you, including plumbers, electricians, interior designers, remodel contractors, etc. “If you need something for your home, we’re a tremendous asset.” We know who the best people for the job are, and our value lies in our ability to connect you with those people. We come into contact with more service providers in one month than you likely will during the entire time you own your home. If you need something for your home, we’re a tremendous asset, and we’d love to help. If this offer sounds like something you’d like to take advantage of or you have any other questions or real estate needs, don’t hesitate to reach out to us. We’d be glad to help.

There are a lot of ways to succeed when selling your home, and just as many ways to fail. Today, I’m going to list three common seller mistakes to avoid when listing your home. “Setting your home’s sticker price too high may make it very difficult to close.” Asking too much. While the goal of your home sale is to get as much money as you can for your home, setting the sticker price too high may make it very difficult to close. An overpriced home can sit on the market for months at a time. This will cause you to ultimately net less money than you would have if you had priced the home correctly from the start. Advertising too little. In today’s market you can’t just hire an agent and put an ad in the paper. Your agent will need to help you market your listing by leveraging price and condition. Choosing the wrong agent. The right agent will set you up for success by positioning your home in front of as many buyers as possible. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

Today I wanted to answer a few commonly asked questions I get about buying a home. If you’re thinking about buying a home anytime in the near future, listen up. This is important information for you to know. How long will it take to buy a home? It depends on the buyer, but we know that once we get a home under contract, it typically takes 30 to 45 days to close on the home.The speed also depends on factors such as the type of loan, the time of year, etc. The home search portion of the process could take a few days or could last as long as six months. Statistically speaking, people start looking for homes online six to 12 months before they’re ready to purchase. Knowing your timeline in advance helps things move along more smoothly. “A Realtor does everything for a homebuyer.” What does a Realtor do for a homebuyer? Everything. I’m not exaggerating. The job of a Realtor is to help a homebuyer narrow properties down, disseminate information, provide context, and help you pick the perfect home. Once we enter an agreement, we will negotiate with the seller and their agent to help you get the best price and the best terms on your contract. Then we will monitor the closing process, the inspection, negotiate any repairs, make sure the title is clean, and coordinate everything between the buyer, seller, lender, and closing attorney to make sure the home closes on time. I hope these answers were helpful to you. If you have any more questions like this or any questions relating to real estate, feel free to reach out and give me a call or send me an email anytime. I look forward to hearing from you soon.

Thinking about buying a home in 2018? If you are, now is the time to start preparing. Here are the things you need to do first: 1. Check your credit score. 2. Avoid opening any new credit cards or making any big credit purchases. You could increase the total price you’ll pay for your home in the long run. “Rates might increase more than once.” 3. Keep tabs on interest rates. The FED is expected to raise interest rates this year. They might do it more than once. 4. Find a mortgage lender and get pre-approved. This will save you time in the long run. Thanks for taking the time to join us today. If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. I look forward to hearing from you soon.

Here are five great tips that will help keep your home warm and save on energy costs this winter: 1. Use the earth as a natural heater. While it’s best to close south-facing windows in the summertime to keep sunlight out, if you open them in winter, the natural sunlight will help heat your home. 2. Insulate your home’s north-facing windows. Use heavy window treatments or insulated window treatments to keep the air from inside and the air from outside separate. 3. Check your heating unit. Dirt and a lack of maintenance are the two most common reasons heating units fail. Before it starts getting heavy usage, have it serviced and change its filters. “By turning down your thermostat at night, you can save 10% to 15% in yearly heating costs.” 4. Turn down your thermostat. Statistics show that by turning your heating unit down 10 to 15 degrees once you’re in bed and under warm covers, you can save as much as 10% to 15% in yearly heating costs. Better yet, buy and install a programmable thermostat. 5. Don’t heat unused space. If you have a guest room or a basement no one ever uses, seal that space off so it’s not getting heated when not in use. If you have any more real estate questions or you’d like more tips on how to make your home more energy-efficient this winter, give us a call or send us an email. We’d be happy to help you.

Here are a few issues that are nearly impossible to identify in an online listing. 1. Don’t trust the size of the rooms. Photographers can use tools like wide angle lenses and photo editing software to enhance the property. 2. Things aren’t always clean as they appear. Sometimes sellers move stuff from one room to another while a photographer is taking pictures. “Photos can hide a lot.” 3. What’s that smell? Let’s say you find the perfect home online that matches everything you’re looking for. You rush to schedule a showing and once you finally get in there, you realize that it smells like a zoo, or it’s near an industrial power plant. 4. The neighborhood might not be as peaceful as it looks. It’s a good idea to hang around for a few hours to figure out what kind of neighborhood this is and whether it matches what you’re looking for or not. Driving through the neighborhood for just 10 minutes when you see the home won’t give you that sense. If you have any questions for us in the meantime, don’t hesitate to reach out to us. We’d be happy to answer them.

The beginning of August typically marks the beginning of seasonality in our market. When school goes back in session, there are a lot fewer buyers and sellers in the market. This natural market cooldown occurs before the actual seasonal change. Shrewd consumers know that deals can still be made well into the school months. Here are a few important statistics to know from the most recent Charlotte Regional Realtor’s Association Report: New listings are up 6% in the Charlotte region. Pending sales increased 15.5% to 4,753. Inventory shrunk by 18.6% to 10,153 units. The median sale price is up 5% to $230,000. The months’ supply of homes is down 23.5% to just 2.6 months. “The whole of residential real estate is in good shape.” These prevailing trends lasted through the summer because there hasn’t been any major change in the economy that would affect housing. Factors such as wage growth, unemployment, and mortgage rates have remained very stable. The whole of residential real estate is in good shape. If you have any questions for us about the Charlotte market or anything else relating to real estate, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.