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Charlotte Investment Homes	2/3/2012 6:21 PM
I have recently noticed more and more of my past clients are now buying investment homes. How do you assess the situation? Do you see crisis or do you see opportunity? In the past, when the Charlotte Real Estate market was growing rapidly, Charlotte Home investors were buying investment homes and breaking even on a monthly basis. The reason was rent prices basically were equal to your mortgage payments. Now consider the fact that you can purchase distressed homes at a discount and interest rates are still low! You will now have positive cash flow for your investment property. How have things changed? Rent has remained a constant. But now, there are homes sold at discounts! Now how can you tell if the "reduced market value" is temporary or a sign of darker times to come? The fundamentals will dictate future value. Location, location, location. Consider what is important to home owners. What are the monthly fees? What amenities are available? Is the neighborhood kid friendly? How are the property taxes? How are the schools? How is the commute to work? Look through the eyes of the home owner (not just the renter). Keep in mind the rental pool will continue to grow as the short sales and foreclosures work through the system. These unfortunate folks are now renters. There are some amazing deals in greater Charlotte Real Estate! Keep in mind that great deals do go quickly. Rules have changed dramatically over the past couple of years. You will likely need 20% down plus several months payments in reserves (6 months is often required). Yes, it is more difficult but in truth, you will be in a better place to begin your investing in real estate. A wise investor knows when it is time to sit on the fence and when to jump in. Rental demand will continue to rise as the foreclosures and short sales work through the economy. The best deals sell quickly. You need to do your homework beforehand. Take to your lender and then give me, Rick Waite a call at 704-770-6559.
Charlotte Real Estate Companies	11/29/2011 7:50 AM
Charlotte Real Estate, as many across the nation, is still transforming from the more rigid large Real Estate firms to more innovative firms. As you consider your Charlotte Realtor, it is wise to realize that the industry has changed dramatically over the past decade. History of Real Estate Firms: Once upon a time (it was truly a fairy tale), a home buyer had to either drive down the street looking for a sign of call a large Real Estate Firm. How else were you going to find your Realtor? Perhaps the Yellow Pages? All of the current Homes for Sale were published in the secret Real Estate Company books and you were at the mercy of your Realtor to see the homes that the Real Estate Agent shared with you. Large firms such as Prudential, Coldwell Banker, Re/Max and in Charlotte there were a couple of local large firms such as Tate and Bissel Hayes. These companies dominated the market and we, the public were at their mercy. The large companies controlled the majority of the marketing including print ads and TV commercials. They also had the huge office buildings that we the consumers paid for as we utilized their services. I currently work with an innovative company called Wilkinson and Associates. Our company now has over 800 agents and was developed on a new model in Real Estate Agencies. Each Realtor is responsible for their own marketing. As you continue your search, you will find many of the top websites on Google to be Wilkinson and Associates Realtors. We are innovative and on the cutting edge. You are not purchasing a home in the 1970's. The public is informed and actually want professional service and not a corporate robot. The Internet has changed the dynamics of the market place. Now many Realtors have the freedom to go above and beyond the typical corporate rigidity (that the firms call consistency). We can create blogs to actually share our individual perspective. We have personal websites that display all listings and not simply the ones for certain selective firms! Yes, there are certain large Charlotte Real Estate agencies that still treat you this way! The economy has grown well beyond the old model and we, the public, no longer desire to be coddled like children. We are intelligent and educated. As you search for your Charlotte Realtor, ask then about schools, property taxes, financing, Home Inspections, short sales and foreclosures. Research their individual websites to see what they really know. Do not allow your Realtor to hide under a superficial corporate umbrella sharing "we have resources". You deserve a person that is the resource. Visit my Charlotte Real Estate website and learn more about the greater Charlotte area. There are many amazing deals in our market. We will explore the ideal options for you. Charlotte Homes for Sale await your family!
Waxhaw Real Estate Market	10/15/2011 6:31 PM
The Waxhaw Real Estate Market continues to move forward at a steady pace in comparison form 9/15-10/15. In comparison of homes sod in 2010 to 2011 has the exact same number of 59. Of these sales, the foreclosures and short sales also remain relatively constant from 11 to 12 in 2011. The new homes did decrease sales from 24 in 2010 to 21 in 2011. This also indicates that buyers are finding more deals on resales. The peak in Waxhaw home sales was back in 2006 when 106 homes sold for the same time period. 2008 was the weakest year (for the same time period) with 43 sales. We have come a long way in recovering from 2008 and the Waxhaw Real Estate market still is moving froward albeit at a much slower pace than the mid 2000's. The fundamentals of Waxhaw are not just holding steady they are actually strengthening! Kohls recently opened in Marvin (Waxhaw mailing address), the Wesley Chapel shopping area did not exist in the mid 2000's which includes a Super Target and much more. In addition the schools and have expanded dramatically! Weddington High School was the only school in northwest Union county and now there is Marvin Ridge, Weddington, Cuthbertson and Sun Valley. Providence road has been expanded from 2 lanes to 6 and four lanes which alleviated much of the congestion for the Waxhaw commute. This is a short list of the infrastructural improvements that have occurred in the area. Now add the fact of low property taxes and you will realize that this is still a great place to buy a home and a safe investment for your future. Search Waxhaw Homes for Sale and discover your next home purchase!
Ranch Home in Waxhaw Meadows	8/23/2011 9:59 AM
Looking for a one story home with over an acre of land in Waxhaw? Looking for a home on a wooded lot? 6605 Deer Creek Dr is a 3 bedroom, 2 bath home that is quietly nestled near downtown Waxhaw. The home has granite counters, hardwoods in the foyer, kitchen, breakfast area, formal dining, greatroom and hallways. The Bedrooms have new high quality carpets. The high ceilings bathe your home in natural light and warmly welcomes you home! The home is a bargain at $235,000! Visit the virtual Tour for 6605 Deer Creek Drive! The back yard is a natural retreat with trees, some grass areas, landscaping and so much more! The back deck is large and privacy is yours! There is a garden shed with electricity that makes the ideal gardening shop, work shop or storage area. Waxhaw Meadows is a small subdivision with no Home Owners Association dues! Sit back and watch the deer or listen to the the hymns of mother nature! Call today and this home can be yours! A bargain like this will not last long!
Why are there not more rentals?	6/29/2011 10:08 AM
I continue to receive people looking for rental homes in specific areas. There are many reasons renters must settle for other homes. Why don't more owners rent their homes since the market is slow? The largest reason is no one wants to be a landlord. Home owners have no interest is handing over the keys to their beloved home (and credit) in hopes a stranger treats their home like it is their own. Too many people have had too many negative experiences and sellers have very little interest. What is in it for the seller? Once upon a time in a land not so far away. a person could get a loan on a home, rent it for a few years and home to make a profit in 3 to 5 years. This was in exchange for the the risk and additional work required to be a landlord (not to mention all of the Government red tape for tax purposes). Now that picture of appreciation looks bleak. With depreciating home values, "if" you could not break even selling your home this year, you find that next year you will be even further behind. So basically you risk your home, you jump through Government hoops and lose more money next year? Hmmmm??? Not too many people willing to work harder, assume additional risk and ultimately "pay" a larger price for time and stress. The only winner is the renter with less responsibility and no financial risk. Another large factor is getting a mortgage on a new home. Mortgage companies lost millions because too many "landlords" stopped paying their rental mortgages due to being in a losing situation. When money gets tight, the investment home is the first bill that does not get paid. The incentive of renting has been removed. Now lenders are very strict on providing a new home loan when you still own your other home. When the housing collapse began, many owners borrowed to get a new home at a discount. They then stopped paying on their "investment" home. Lenders caught onto this (called strategic foreclosure). Now you must put down a large down payment, have up to six months payments in savings and still qualify for the home for both full mortgage payments. Buyers are challenged to have 3.5% down payments. Not many people have 20% down plus six months in savings. If they do, they typically have no interest in the proposition of being a landlord. Ultimately, if you are looking to rent, take what you find. No, it is likely not to be in the best neighborhood, in the best school or for the price you were hoping to find. Naturally, you can not expect home owners to take the risk that you yourself are unwilling to take. This is not to disparage renters; you are renting because you are not interested in the risk and hurdles of home ownership. In toady's market, less people are willing to absorb that risk for you. There are amazing deals out there. A home is an amazing place to relax and raise a family. At the right price, you can become a home owner and have this home as long as you would like. Prices have never been better. No, you are not buying a home at 2007 prices nor are you paying for 2015 prices. You pay current local market value which is actually less money than you could possibly build that home. The Real Estate market has never been in favor of buyers. The key is to work with a lender, do what you can for your credit and find that ideal home! Charlotte Real Estate is destined to grow and the Charlotte housing market will remain in demand. Will you be looking back in five years saying "I could have bought that home when it was $______?" Or are you going to be one of those people that took advantage of the opportunity and smiling every month when your mortgage payment is a fraction of the majority of your neighbors. Your future begins today; do you stay of the fence or begin searching Charlotte home for Sale?

Charlotte Real Estate and Foreclosure Education

The Charlotte Real Estate market continues forward in spite of the national economic situation. Fortunately our home prices have not been as heavily impacted by the remainder of the national real estate industry. Did you wonder why?

There were many factors contributing to the housing bubble. Yes, the largest impacting aspect were high risk loans dictated by Congress. This superficially increased housing demand and home ownership. Prices reflect demand. Now the superficial loans have been dramatically been reduced, demand has decreased and housing prices followed.

So first we have less demand. Now we have the repercussions of the high risk home loan failure rate. This creates a large ratio of foreclosures. Now we need to translate and analyze the foreclosures. There are a variety of areas that will be impacted. First are the "starter home neighborhoods". A starter neighborhood is a new creation that occurred in markets that are experiencing a population growth. With Charlotte's growing population we had many new starter neighborhoods. These tend to be the least expensive homes in any given community.

The impact on these neighborhoods provide opportunities for now home buyers. A family can obtain a home at prices of a few years ago. In five years or so these sub prime loans will have ran their course and you are now in a stable Charlotte Neighborhood and got in at a great value. The short term resale may not be promising due to an abundance of homes continually placed on the market.

The investor impact is also a factor to consider. Investors flocked into Charlotte neighborhoods after the hurricanes hurt the Florida market and looked for their next target. Charlotte's positive economy attracted them. The investors purchased homes with the intent of renting for a few years and then selling with profit. They were amazed to find new homes for less than $175,000. The investors purchased these homes without considering the past appreciation, the rental market in Charlotte nor the impact of rentals in a Charlotte neighborhood. Ultimately they purchased homes in starter neighborhoods and further pulled down the value of the homes. When the economy turned downward, the investors abandoned their homes and thus further amplified the distress within these neighborhoods.

Are there deals? Yes, but the new reality of real estate investment has returned to the times of old. The times of get rich quick deals has been dramatically reduced. Home equity loans are more difficult and lenders are more restrictive before making these loans (due to failure rate and inability to recover their funds).

Charlotte is still in high demand and people still want to move into our market. The Charlotte market will continue to grow at a slow and steady pace and you can be assured to be safe for a Charlotte home purchase. If you are seeking a great place to live, temperate weather and great opportunity for your family then Charlotte property welcomes your arrival.

Charlotte North Carolina Real Estate Blog

Charlotte North Carolina Real Estate continues to grow at a dramatic pace. There is a lot to understand prior to purchasing your Charlotte North Carolina Homes. The purpose of a Charlotte Real Estate Blog is to clarify and also to dispel rumors that are so prevalent in the news.

Most have heard that North Carolina is the fastest growing State in the entire USA. What does that mean to you? Why is North Carolina growing? Charlotte North Carolina Real Estate is expanding because people all across the nation has heard about the fantastic Charlotte weather, Charlotte Homes, Charlotte banking and Charlotte business opportunities.

According to Blomberg, Charlotte has the lowest commercial real estate vacancy rate in the nation at 2.3 percent and still continues to decrease! Notice the continued growth in commercial real estate in Charlotte.

Charlotte Banking: Wachovia and Bank of America are headquartered in Charlotte NC. Our real estate prospers as a result. The 2nd week on January 08 announced that Bank of America is purchasing Countrywide Mortgage. Yes Countrywide is in trouble and Bank of America will get a good financial deal. A "good deal' is much more complicated that the sale price. Bank of America also has the expertise to bring Countrywide back to profitability.

Charlotte Airport is also expanding. US Airways has a major hub in Charlotte. US Airways has had a miraculous return to profitability thanks to the America West buyout and the new America West management team that is running the airline. US Airways has an extremely strong market position as it eliminates its weakest performing hubs and capitalizes on the growth cities. Philadelphia, Phoenix and Las Vegas complement Charlotte with strong traffic and growth. US Airways is now expanding its International travel out of Charlotte and will continue to bring jobs and further boost the Charlotte Real Estate market.

Charlotte drivers: I have heard complaints about Charlotte drivers. The Charlotte population has already doubled since 1980! Most of our drivers are not from Charlotte. The difficulty is that we have drivers from a wide array of "driving cultures". Driving Cultures? Yes. As you travel the globe, you will note that New York City, Cleveland, OH, Miami, FL, San Fransisco and Mexico have very different "driving courtesy rules". Our new population continues to blend with our residents and it all works well together. We understand that people take wrong turns and will be lost at times. We are OK with that. The majority of our residents remember being new.

For additional questions or concerns, feel free to comment via my blogs and I can address specific questions or concerns.

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Rick Waite
Charlotte Realtor
Phone: 704.770.6559
RJWaite1@GMail.com

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