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Rick Waite

Charlotte Real Estate Blog


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Charlotte New Homes2/5/2013 6:49 AM
It is incredible and exciting to see so many builders in the greater Charlotte Real Estate market constructing new homes.  I was with a client yesterday doing their final walk through at a new home in The Palisades.  There are at least six homes within the subdivision under construction!

In the Ballantyne area, Ballanmoor is thriving along with many in Union County including Lawson and Bromley!  Home prices are on the rise.  New homes are being constructed with an abundance of new features such as more protective electrical circuits along with greater energy efficiencies.

There are incredible homes and the prices are still very reasonable in our market.  If you are still hesitating that new home purchase, you will want to make your move.  Mortgage interest rates are on the rise; the increase will make that dream home just beyond your reach with a higher payment.

Call today to learn more about the great deals in the greater Charlotte Real Estate market!
Charlotte Foreclosure Update Jan 20132/4/2013 7:14 AM
As the economy continues to move along, the Charlotte Foreclosure market continues selling at a strong pace.  For January 2013, a total of 1915 single family homes sold.  Of those, there were a total of 526 foreclosure homes sold. 

So how does this compare?  Total sales increased 25% in January 2013 compared to January 2012.  The total foreclosure sales decreased from our 2012 peak in January of last year of 19% to 27% in 2013.  As long as the sales continue to grow, the market will absorb all of the foreclosures. 

Yes, there is still an abundance of opportunity in Charlotte Foreclosures but at this pace of sales, it is only a matter of time until the Charlotte Real Estate market has a full recovery.

If you have been waiting for the bottom of the Charlotte Real Estate market, it looks like you waited too long!  There are still opportunities but be prepared for multiple offers on aggressively priced foreclosure homes.

Learn about Charlotte Foreclosures and let's find your ideal home today!  You do not want to hold off any longer; it will be a decision you will regret for many years to come.  There are those who watch opportunity pass them by and those that seize it!  Which group do you wish to join?

Call today at 704-770-6559 and I, Rick Waite, will be here to help you find a great Charlotte area Homes for sale!

Authored by Rick Waite
Waxhaw Real Estate Listings1/20/2013 9:04 PM
Waxhaw Real Estate has an abundance of options!  Waxhaw Homes for Sale include homes bordering South Charlotte Real Estate in the Village of Marvin all the way to the South Carolina Border in western Union County.  Discover the value in Waxhaw Homes for Sale including, our new listings, Waxhaw Foreclosures, Waxhaw Short Sale, Waxhaw Single Family Homes for Sale and Waxhaw Townhomes for Sale.

Waxhaw New Listings Waxhaw Real Estate Listings are updated daily!

Waxhaw Foreclosure Listings  Discover the value in Waxhaw Foreclosures; there are amazing deal available.  You need to be ready; great deals will sell quickly!

Waxhaw Short Sale Listings If you have time and patience, there are incredible deals to be had in Short Sales!

Waxhaw Single Family Homes for Sale Waxhaw has a wide range of homes from modest starter homes to elaborate mansions.  Regardless, we have something for everyone!

Waxhaw Townhomes for Sale Waxhaw has a very small townhome market and what we do have tends to sell quickly. 

Authored by Rick Waite

Waxhaw Real Estate listings provide an ideal Charlotte Real Estate suburb to settle down and call home.  We welcome you and your family!  Discover all that we have to offer within Waxhaw Real EstateWaxhaw Homes for Sale will impress!
Charlotte Short Sales Trends 20121/12/2013 11:06 AM
Charlotte Short Sales Trends continue to track upward in the greater Charlotte Real Estate market.  As a Charlotte Area Realtor, I follow the sales of single family home sales in our greater region.  I have been tracking short sales over the past three years.  I find it helpful to watch trends to forecast where the Real Estate Industry is heading.

Keep in mind that each area of the country in unique.  Real Estate is local.  The Charlotte region experienced a very large expansion over the past decade.  Many were relocating from across the country; many from the northeast.  As the national housing sales slowed, so did the migration to Charlotte.  Yes, it will only be a matter of time until people move on with their lives and make their relocation happen regardless.

The trends:  In 2010, short sales consumed 4.5% of our market.  In 2011 it jumped to 5.7 and then in 2012 it is now at 6.4% of our total market share.  This is a continual rise.  Why?  I list and sell many short sales in the greater Charlotte region.  The down economy continues to take a toll of many families.  Real life happens and there often seems to be no way out.  If you purchased your home at the housing peak, what can you do.    Death, divorce, unemployed, family illness or job relocation are some of the major factors that force a person to sell their home.  What happens if you are $50,000 under market value?  What do you do?  You can not afford to keep paying your previous mortgage.  A short Sale is the answer.  It is much better on your credit report than a foreclosure and still gives you "some" control over your financial situation (as opposed to a foreclosure).

A short sale is never an easy conclusion but you really need to consider every option before you just resign yourself to a foreclosure.  Make the best of a bad situation.  The Federal Government just extended debt forgiveness for many short sales.  This primarily applies to your primary residence and your first mortgage.  The vast majority of 2nd lien holders also forgive the debt but it also depends.  Call me, Rick Waite today to make the best of this situation.  As a Charlotte area Realtor, I will do what ever possible to help.  Call me BEFORE you contract to pay anyone.  A short sale should not cost you for the services!  Learn all about Charlotte Short Sales; an education is the way to begin!
Homes on Lake Davidson6/19/2012 9:47 PM
The greater Charlotte region offers an abundance of housing opportunities for you and your family.  One such place is Davidson Pointe on Lake Davidson.  Davidson Pointe is being developed bu Saussy Burbank.  Saussy is a very reputable builder in the greater Charlotte region and is recognized by their colorful Charleston style homes, rocking chair front porches and a community that radiates warmth!

Davidson Pointe sets on Lake Davidson.  Lake Davidson is east of I-77 north of exit 28.  Lake Davidson "appears" to be part of Lake Norman but is actually not connected (separated by the highway) and remains a quiet peaceful lake.  Recreation is plentiful on Lake Davidson but more of a smaller sibling of Lake Norman.

Davidson Pointe is actually located in Iredell County and attends Iredell County and Lake Norman Schools.  You are still incorporated in the town of Davidson (Mecklenburg County) and are part of the charming small town atmosphere that Davidson has to offer. 

Davidson is well known for Davidson College in addition to Davidson Community Charter School.  Davidson Community Charter School is actually one of the top Charter Schools in the southeast!

Visit the Town of Davidson and Davidson Pointe.  Explore Homes in Davidson!  You will be pleased that you stopped by for a visit.  You will soon be packing your bags and moving our way!

Authored by Rick Waite

The greatetr Charlotte Real Estate market has a lot to offer.  Begin your serach to day and we will find the ideal home for you and your family!

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 Charlotte 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.

Authored by Rick Waite


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.

Charlotte Real Estate Blog

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

 

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