Real Estate Blogs Of The Carolina's

With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable.   Some people are waiting for rates to come down and while they are expected to come down some this year, most experts agree that they'll never return to the three or even four percent range.   There are things that a buyer can do to be eligible for the best rate available.   Obtaining the most favorable terms is based on the loan-to-value, your credit rating, and your ability to repay the mortgage. While lenders can impose their own underwriting criteria, the basic qualifying guidelines are identified as the 4 Cs: Capital - money and savings, plus other investments providing for down payment, closing costs, and reserves for unexpected expenses in the future.   It could also include gifts from family members, grants, and down payment assistance. Capacity - ability

An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer.   It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the difference in cash. Looking at the issue from the seller's perspective, "if the buyer wants my home and he can't get the loan he wants, he'll have to make up the difference in cash."   The buyer might have a different view like "If an independent appraiser can't justify the price, I'm not going to pay more than appraised value." Pay the difference in the appraised value and the purchase price in cash.   Solution - Assuming the buyer has adequate cash reserves and is willing to pay above appraised value, this will satisfy the lender. Decrease your down payment percentage to apply toward the appraisal gap.   It may trigger mortgage insurance which will increase your paym

Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot.   The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago. "Inventory levels are still at historic lows, and consequently, multiple offers are returning on 28% of properties." According to Lawrence Yun, Chief Economist for the National Association of REALTORS�. It is still important to have a strategy for potentially competing with other buyers on the house you want to buy.   The plan should include several available provisions and options, so that at the time of drafting the sales offer, you can consider exactly what to include based on the situation. Unless a person is paying cash, you need to be pre-approved by a trusted mortgage professional long before you start looking at homes.   Include the written pre-approval letter along with the offer.   When you

Property Site: https://tour.corelistingmachine.com/home/FGZPE8/9516-Eagle-Feathers-Drive-Charlotte-NC-4029460 Search no further! WELCOME to this beautiful meticulously maintained home. The flow from kitchen, breakfast area and great room makes entertaining a breeze. NEW LVP flooring, granite countertops, stainless steel appliances, and wine chiller. Plenty of parking with a 2-car attached garage and expanded driveway. The covered outdoor patio is made for relaxing and gatherings! SAVE on your energy bill with solar panels. You will also love the privacy provided by the fully fenced in backyard. Just a short drive to the Whitewater Center, 485 and the airport. Bedrooms: 4 Bathrooms: 3 Square feet: 2,220 Price: $365,000 For more information about this property, please contact Rsha Harris at 617-901-2999 or rharris@homemail.com. You can also text 7927746 to 67299 (Message and Data Rates May Apply,

Property Site: https://tour.corelistingmachine.com/home/C45GDC/128-Bell-Meadow-Place-Charlotte-NC-4028181 This is a Must See Beautiful END UNIT Townhome, Located in one of the finest communities in charlotte COTSWOLD.This amazing property is loaded with luxury Features, Including a PRIVATE ROOFTOP terrace with up town City of Charlotte Skyline views, 2-car attached garage. Additional balcony off Living room, and gourmet kitchen with all Luxury Stainless Steel appliances INCLUDES Washer / Dryer. Designer finishes throughout, featuring an open floorplan & spacious Living Room with gas fireplace. Also featuring an GOURMET kitchen that includes a gas cooktop, white quartz countertops with large Island, Luxury cabinets featuring a beverage cooler and custom bar cabinet! The upper level features 3 bedrooms and 2 full baths including the Owner's Suite with Luxury bath suite, a large walk-in closet and tray ceilings. Separate guest suite on the lower entry level is

Property Site: https://tour.corelistingmachine.com/home/C45GDC/128-Bell-Meadow-Place-Charlotte-NC-4028181 This is a Must See Beautiful END UNIT Townhome, Located in one of the finest communities in charlotte COTSWOLD.This amazing property is loaded with luxury Features, Including a PRIVATE ROOFTOP terrace with up town City of Charlotte Skyline views, 2-car attached garage. Additional balcony off Living room, and gourmet kitchen with all Luxury Stainless Steel appliances INCLUDES Washer / Dryer. Designer finishes throughout, featuring an open floorplan & spacious Living Room with gas fireplace. Also featuring an GOURMET kitchen that includes a gas cooktop, white quartz countertops with large Island, Luxury cabinets featuring a beverage cooler and custom bar cabinet! The upper level features 3 bedrooms and 2 full baths including the Owner's Suite with Luxury bath suite, a large walk-in closet and tray ceilings. Separate guest suite on the lower entry level is

Builders of new homes offer or are required to warrant their work for a specified period.  Municipal inspections are generally required during different stages to "ensure the life, health, safety, and welfare of the public" but even if something is missed, the ultimate responsibility for building to code belongs to the builder, even if the municipal inspector misses something. There are four basic stages of residential construction including: The foundation stage begins with excavation, footings, foundation walls or slab, waterproofing, backfill, compaction and underground rough plumbing and electricity.   Municipal inspections are done prior to pouring the foundation while items are visible. The framing stage includes the wood or steel framing, exterior walls and roof sheathing, exterior trim and siding, windows, doors, and roofing.  Depending on the municipality, there could be inspections of the rough framing separate from the roofing.  Next in this stage

Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up.   Contrarily, when home sales decrease, demand could lessen and prices moderate.   There is opportunity with higher rates because it affects sales and demand, which in turn keeps prices in check.   By waiting for rates to come down, and no one knows by how much but certainly not to the 3-4% range, buyers' pent-up demand will affect the already low supply and cause prices to increase. Let's look at a scenario where you could buy a home today for $400,000 with a 90% loan at 6.5% for 30-years with P&I payments of $2,275.44.   If interest rates drop to 5.5% in one year but in that same period, the price goes up by 10%, the price would be $440,000 with a 90% loan at 5.5% for 30-years with P&I payments