Charlotte Real Estate Updates - Charlotte Homes

Indian Trail Full Brick Home for Sale!

Rick Waite — Wed, 30 Nov 2011 22:36:00 GMT

If you are considering a home in the Union County area, you would be amiss not to consider Colton Ridge in Indian Trail! Colton Ridge is a side walk neighborhood with a community pool, tennis court, community pond and walking trails. View more information on 6006 Colton Ridge!

The kitchen has granite counters and the main floor has upgraded hardwoods throughout! You have plenty of counter seating in addition to the breakfast area overlooking your back yard.

The main floor has an open floor plan. This home has 3 bedrooms and a HUGE bonus room (easily can be a bedroom in addition to a bonus room). The Laundry Room/Utility Room is on the main floor and provides all of the space you had hoped!

The yard is level and fenced! The covered pergola is a perfect place to sit out, watch your children play, enjoy gardening or just simply watch nature! The garden has been done with great detail with a wide variety of flowers blooming regularly!

Why Should I consider Fort Mill, Tega Cay and Indian Land Homes for Sale?

Rick Waite — Thu, 24 Nov 2011 17:45:00 GMT

Whenever someone is relocating to the greater Charlotte area they naturally consider various Charlotte Suburbs. There is a vast amount of data available and it is often an overwhelming task. Where is the best deal in greater Charlotte Housing? Should I consider Charlotte Foreclosures? What schools will meet and exceed my expectations? What are the property taxes? How long is my commute?

These thoughts are just the tip of the iceberg. When seeking a home in the greater Charlotte area, we will consider all factors that combine to create your home. What does Fort Mill, Tega Cay and Indian Land have to offer? How are they similar and how do they differ? Which is a better consideration?

First thing to consider is the things in common, property taxes. South Carolina has done many things to take care of and attract their residents. SC has reduced their property taxes. SC property taxes are more than 30% lower than NC. SC also provides a $50,000 "assessed property value reduction for seniors. Property taxes are based on the assessed tax value. All SC properties are assessed every four years (State wide County by County) and property taxes are based on this assessed value. Seniors enjoy a reduction of $50,000 of of their tax value and their property tax bill is based off of the reduced value! SC also has a lower gasoline tax (20 cents less per gallon than in the greater Charlotte area).

What distinguishes Fort Mill Real Estate? Fort Mill is in York County SC and has soft rolling hills. Fort Mill covers a large geographic area. Fort Mill's most popular subdivision is Baxter Village. Baxter has Charleston style homes and radiates warmth. Fort Mill also has many other great neighborhoods such as Springfield, The Reserves at Gold Hill and Regent Park. Fort Mill does not have a large shopping area per se but more and more stores are opening on a regular basis. Fort Mill is just across the NC/SC border and about 10 miles from Uptown Charlotte. Fort Mill Schools are very popular and have a reputation of high academic standards. Fort Mill has a quaint Downtown area with with a few commercial buildings. Fort Mill is spread out and has a wide variety of subdivisions.

Tega Cay has a resort type feel and is located within Fort Mill and York County. Tega Cay has steeper hills, a 27 hole golf course, miles of walking trails and attends Fort Mill Schools (Tega Cay Elementary School is in the planning process). Tega Cay is a close community and outdoor activities are common. There is not a town center of Tega Cay but there has been a flurry of supporting stores throughout the area.

Indian Land is located just south of the South Charlotte/Ballantyne area in Lancaster County. Indian Land does not have a US Post Office and the mailing address for Indian Land is Fort Mill. Indian Land residents attend Indian Land Schools. Indian Land topography varies from flat to steep hills. Indian Land was very rural community and is growing into a thriving South Charlotte Suburb. Indian Land ranges from small older rural homes to new elaborate subdivisions. Indian Land is a great option if you are working in Lancaster or the South Charlotte area.

Discover more about the greater Charlotte Real Estate area. I will share information about each area in addition to providing various resources to assure you have a complete perspective of the area you decide to call home. You are relocating for a reason and I want to assure you find the Charlotte area home that you are hoping to find!

Charlotte Short Sales remain a strong option!

Rick Waite — Tue, 15 Nov 2011 23:41:00 GMT

The greater Charlotte Real Estate market remains steady and I have personally noticed a large uptick in short sales. Charlotte Buyers are realizing the benefit of purchasing a short sale. There are many considerations before buying a short sale but more and more people are now prepared to buy their next home!

A short sale exists when the current owner owes more to the bank than the current market value. The current home owner does not have to lose their home in foreclosure. After you, the Charlotte Home owner, has exhausted all other refinancing options, you can still do a short sale. A short sale is when you have a buyer (not related or affiliated with yourself) that will purchase your home at true market value (not for the amount you owe).

For the seller, the lender must approve the shortage of funds and accept the loss. Yes, there is a lot more criteria before the bank will accept the loss but it is definitely an option to consider. A short sale is better than a foreclosure. No, as you list your home for a short sale will not stop the collection calls. The calls will not stop until the home is closed. An aggressive marketing plan is required and I am here to assist. An understanding of the entire process will be helpful; I will share as much or as little as you request. The benefit of a short sale is to allow you to have some control of your home's destiny.

The home buyer gets to get a great home prior to the foreclosure. A short sale often takes months to complete (as opposed to a bank owned home or regular home sale which takes 30 to 45 days) but it is worth it. Yes, the lender expects to receive current market value for the home which is fair. A home owner marketing their home as a short sale will be reluctant to accept a very low offer. Why does the seller care?

The bank does an extensive analysis of the current market value. If the offer is below their acceptable margins, the offer is rejected or counter offered. In the mean time, the home owner has delayed the opportunity of receiving a real/reasonable offer. You, the home seller, do not want or need to have more time wasted; you want this all behind you so you can move forward in your life.

Listing your home for a short sale is a process and so is buying a short sale. Both require patience but it ultimately will help both parties in the long run. Consider learning more about a short sale. Yes, the lender loses but it still beats the cost and risk of a foreclosure. Consider all of your options. Let me know how I can help.

Tega Cay 2 Story Home For Sale

Rick Waite — Sat, 12 Nov 2011 01:31:00 GMT

• 1,700 sq. ft., 3 bath, 4 bdrm 2 story - MLS® $200,000

3 Bedroom home in Tega Cay SC! Fantastic deal on this 4 bedroom home in prestigious Tega Cay. This cul de sac home has new laminate flooring on main and master bedroom along with new carpet in other bedrooms. The first floor has an open floor plan and the home has warm neutral colors throughout. The back yard is relatively level, fenced and has a large deck for entertaining. The new roof has architectural shingles.

Tega Cay amenities such as beaches, boat ramps, ball parks and walking trails/green ways throughout. Tega Cay offers additional amenities including the golf course, swim club, tennis and much more. These additional amenities are inexpensive and you choose any amenity package you desire (optional).

Now consider a convenient commute to uptown Charlotte, low South Carolina Property taxes and great Fort Mill schools of York County. This home will not last long!

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New Charlotte Home Search!

Rick Waite — Fri, 21 Oct 2011 00:20:00 GMT

I have recently upgraded my Charlotte Area Home Search! This now includes map searches, MLS Search, Address Search and much more. Try the new home search and let me know what you think. I continually stay on top of the market and try to provide the information that you will need! Your thoughts are very important to me. I need to assure I continue to keep you, the person purchasing Charlotte Real Estate or the person selling theri curretn Charlotte are home as the priority!

Search Charlotte Area Homes for Sale

Relocating to Charlotte NC

Rick Waite — Mon, 17 Oct 2011 00:22:00 GMT

Many people relocating to Charlotte (or any unfamiliar city for that matter) do not realize where to start. Many begin by seeking the largest home for the least expensive price. Charlotte, as any city, varies dramatically around the city of Charlotte. That is not to disparage any area; it is simply that every city has a diverse population and there is something for everyone. We welcome everyone but the most important part is that you are a place that you actually feel at home. Your happiness is essential for a successful relocation.

Please perform a search for the largest home for the least amount of money in your current home town. If you currently live in this neighborhood and are happy, then you are on the right track. If you are not relocating your family to that neighborhood, then please do not do it in Charlotte.

Try looking for the most expensive smallest home. Then begin researching that area. Home prices are based on demand. The only reason someone would pay more money for a smaller home is the area is more popular. Keep in mind that many neighborhoods in Charlotte have newer homes. Do not assume that since a home is less than 10 years old then this is where you would like to live. Again, every area has strengths and weaknesses. You are relocating for a reason. You are looking for a better life. You are looking for a home and a standard of living that is better than you are leaving.

Ask your coworkers what they think. Ask about property taxes, crime, schools, shopping, recreation and anything else that is of importance. Ask more than one person to assure you are getting a larger perspective. Family is always the best resources; they know you better than anyone else.

Visiting: As you visit Charlotte, stop and visit the local Grocery Stores. These are your neighbors. Visit local banks. Is there an armed guard in the bank? Are the tellers protected behind bullet proof glass? Everyone has a different comfort zone and expectations vary.

Consider commute times. That is a place to begin. A shared objective is to minimize your commute and provide the best quality of life possible. Together we will consider the factors important to your Charlotte Home and community. Charlotte Real Estate will exceed your expectations and your family will thank you!

Open House in Ballantyne Trace on Saturday 10/15

Rick Waite — Fri, 14 Oct 2011 20:46:00 GMT

Ballantyne Trace - Just behind Stonecrest Shopping Center! - We invite everyone to visit our Townhome open house at 11182 Villa Trace Place on Saturday, October 15 from 10:00 AM to 2:00 PM. Learn more about the area as well as this particular neighborhood. We look forward to seeing you there!

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Charlotte Investment Properties

Rick Waite — Fri, 07 Oct 2011 19:13:00 GMT

Many people are now considering buying Charlotte homes for rental properties. What does it involve? Before you purchase Charlotte Real Estate you need to confirm your financing. Mortgage Interest rates are very low but the lending restrictions are high. The first step is to speak to a lender. There is no point in considering a property unless you know beforehand that you can actually get a loan. It is safe to assure you will need 20% down-payment and six months of house payments in the bank for the new loan. You may find a better deal but this is normal.

When purchasing a Charlotte area investment home, you then need to know the numbers. What do you expect? If you place 20% down then the mortgage is only based on 80% of the purchase price. You then add property taxes, Home Owner Association fees, Insurance and perhaps a management fee to an outside source. Then look a the recent rental activity . How long did the rentals remain vacant? Make sure you adjust your expectations to include the vacancy rate.

Charlotte area Homes for Sale offer an abundance of options and opportunities. Purchasing a foreclosure or short sale may be the ideal investment property. In 4 or 5 years you can resell your property and make a nice profit along with the monthly cash flow that you received.

There are many new renters on the market due to the current economy. The economy always creates opportunity. The one that prospers is the person that not just sees the possibilities but has the confidence to take action. It is time for seize your Charlotte Real Estate investment today!

Providence Country Club

Rick Waite — Thu, 06 Oct 2011 01:34:00 GMT

Providence Country Club is one of several Country Clubs within South Charlotte Real Estate. Providence County Club is conveniently located in on Providence Rd. Discover our Charlotte Homes on the Golf Course and all of the Country Club amenities! Learn more about the Homes in Providence Country Club and discover the opportunities in Charlotte area homes for sale.

What does your Realtor do to help?

Rick Waite — Thu, 29 Sep 2011 13:58:00 GMT

As a Realtor, there are many responsibilities that seem to be neglected or not appreciated. Purchasing a home is a huge investment! It is likely to be the largest investment of your life. Along with this investment is "stress". When purchasing or selling your home, the last thing you need is an Agent that creates drama. Your Agent should be there to help resolve issues in a calm and amicable manor. You do not need more pressures and concerns. No, this does not mean to hide things from your client (either buyer or seller); I handle the crisis and share the situation calmly. I share the problem with the solution or a list of alternatives.

I believe in being strategic and considering all perspectives. Together we devise the best approach. For Buyers, this includes considering various areas that best suit your family needs. We consider commute times, schools, property taxes, Home Owner Association fees and anything else that is important fro you and your family. I share various means to assure you will be content and not simply state "there is a website for that".

The next step is seeking out the best deal. We discuss the offer strategy. I research the seller's position and also consider market value. We naturally want to buy everything below market value and also realize what the home is worth to you. We want a deal but of equal importance is to obtain the perfect home.

I then am at the home inspection and help find solutions as they arise. I will do what ever I can to assure the process is as painless as humanly possible! This means being there when you need me, helping you understand any repairs, what options you have and anything else you need. I will explain things in as much detail as you would like. Your concerns are shared.

If you are listing you home I am also there to assist. I will research comparables and share them with you honestly. Today we are in a different time in our nations history. I will share with you staging techniques. There are likely several things in your home that you did not notice. Photos are HUGE! You do not want a Realtor that comes by one time to take photos. The front and back of your home has the best light in different times of the day. You then want honest information about the comparable sales. Appraisals are an issue and have had several contracts this year run into appraisal issues. The appraisals came in considerably lower than the contract price. We will also need to navigate through this process.

In a nut shell, as a Charlotte area Real Estate Agent, I am here to help the process. I will do everything possible to market your property. Yes, the market has changed dramatically! That is our national reality. Some neighborhoods and market niches were hit harder than others. Together we will sift through the process and assure my client gets the best deal possible.

Charlotte Lease Purchased Closed!

Rick Waite — Mon, 26 Sep 2011 00:12:00 GMT

In today's real estate market, sellers are more flexible than ever. We, my partner Anne Jackson and I, had a lease purchase signed last year in November. A lease purchase is difficult since many buyers do not have the money required for the contract. A lease purchase can be complicated. In a nut shell, you place a non refundable deposit equal to about $3,000 or greater in addition to security deposits (first and last).

The buyers needed time before they could buy and did not want to move twice. In the end, their other home sold, they had the convenience to moving once and the seller had a secure buyer in their home. It was a win-win situation.

There are still many opportunities within the greater Charlotte Real Estate market. Interest rates are low in addition to low housing prices based on the economy! Everyone wants to buy a home at "the bottom" of the market. The reality is the bottom of the market may not accompany these mortgage interest rates! Low home prices combined with low Mortgage Interest Rates combine to make a perfect time to buy homes. Now add the opportunity in Charlotte Foreclosures or Short Sales!

Charlotte Foreclosures: Move in ready or major renovations?

Rick Waite — Sat, 17 Sep 2011 21:35:00 GMT

Many do not realize the opportunity in suppressed home prices, foreclosures and short sales. Keep in mind that the housing market has changed! What are the condition of Charlotte Foreclosure Homes?

The foreclosure market has changed and the homes range from move in ready to homes that are often worth less than the vacant lot. The answer is: it depends. The prices vary dramatically also. The best deals go quickly.

How low will the bank/mortgage company/Government accept? This also depends. Most foreclosure homes are priced aggressively. Most of the best deals are multiple offer situations. How does a multiple offer situation work?

The largest mistake home buyers make is not realizing the value of the home. When ever there are multiple offers on any home, especially a foreclosure, the first step is to assess, what the home is worth to you. The list price is irrelevant; you have one chance to get the home. You need to accept that the home is worth $_______ and that is all it is worth to you. You need to be sure if another person offers $1,000 more than you that you are OK with that. DO NOT FOCUS ON THE LIST PRICE!

I have had several buyers focusing on the list price. There was a foreclosure listed slightly over $300,000. The home cost well over $700,000 new a couple of years ago. The buyer obsessed $3,000. We offered modestly over the list price. Another buyer offered $2,000 more and got the home. Focus on the value of the home! There is a time to check your nickles and dimes; not when you are getting a great deal.

Short Sales always present a great option. There tends to be less competition (due to the time it takes to close) so there can be great deals if you are very patient and have time to wait. Expect 4 months to get an answer from the bank and then the time required to get your loan processed. It "may" close more rapidly but I believing preparing for the worst and be happy if a better result occurs.

The depressed housing market also is providing great resale opportunities. Many greater Charlotte area home sellers have their homes listed at great discounts. These are home that have been well maintained and ready for you and your family. As you search Charlotte Real Estate, it is worth your while to consider all homes for sale. The greater Charlotte Real Estate market has something for everyone and the ideal Charlotte Homes await your presence!

Why register for a Real Estate website?

Rick Waite — Wed, 14 Sep 2011 13:16:00 GMT

It is often asked "Why do I need to register for a website? I just want to look."

I understand and have felt that way in the past. No one likes sales phone calls (trust me, I get them daily).

Ultimately, a Realtor website is part of their marketing and how to create a relationship with new clients. A website takes time and money. The first step for a Realtor is to create the website (typically by paying). The next step is to get the website "optimized" so that you, the potential buyer/seller can actually find the website. It takes a lot of time and money to get your site on one of the first pages of Goggle or Yahoo.

Now that the Realtor has spent thousands of dollars, you need to generate business to pay for the money you have just spent on marketing. If you spend money on marketing without selling anything, you are out of business.

"I register and give my number but no one calls": Many agents, including myself, rarely call anyone who registers. I understand that buying a home is a process. I just like you to know that I am here waiting to assist when you are ready.

Who calls when I register for a national website? The vast majority of these sites take your information and sell it to a local Realtor. They are in business of selling your information. One nice benefit of registering on a personal website is that you know who you are selecting to be your agent. For instance, I work with one other person and we typically work together. Her name is Anne Jackson and you will also meet her up front. Buying a home is important and you need to identify with your agent.

Register or not to register? I suggest registering for a person that gives you some level of comfort and understanding. For myself, it is my way of tracking my website performance. When the leads slow down, I need to dedicate more time to my website. As a Realtor, if you are not continually attracting new business, you will eventually be out of business.

I hope this helps you understand and appreciate how registering works. Feel free to let me know how I can help or if yo have any thoughts you would like to share.

Thanks.

Brick Home for Sale in Indian Trail!

Rick Waite — Sun, 04 Sep 2011 23:08:00 GMT

Looking for a brick home in Indian Trail in Indian Trail NC? Here is your dream home! This home is full of love and awaiting your family! This home has an open floor plan, kitchen has granite counters, an island, hardwood floors throughout the main floor, 4 bedrooms and a HUGE bonus room. This home has a large level back yard that is already fenced! It has a large laundry room and much more. Shopping? This home is within 3 shopping centers within 4 miles. This includes a 4 grocery stores, a wide variety of restaurants and the Super Target in Wesley Chapel. Union County Schools and much more! Take a look at this Home for Sale in Colton Ridge!

Open House in Colton Ridge on Saturday

Rick Waite — Wed, 31 Aug 2011 14:15:00 GMT

Colton Ridge, Indian Trail - Join us at our open house and tour 6006 Colton Ridge Drive in Indian Trail this Saturday September 3 from 10:00 AM to 2:00 PM. We look forward to seeing you there!

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2 Story For Sale in Price Mill

Rick Waite — Tue, 30 Aug 2011 15:19:00 GMT

Amazing former Model Home!

• 3,300 sq. ft., 4 bath, 4 bdrm 2 story - MLS® $305,000 - Short Sale Opportunity!

Price Mill, Monroe - This amazing former model home has 4 bedrooms, 3.5 bathrooms, sets on .52 aces and has all of the living space you were hoping to find. The floor plan includes an office, formal living room, formal dining room, laundry/utility room, great room, kitchen and half bath on main floor. There is simply too much to list and is a must see!

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Price Reduced on 6605 Deer Creek Drive in Waxhaw Meadows

Rick Waite — Fri, 26 Aug 2011 13:55:00 GMT

Waxhaw, Union County - Announcing a price reduction on 6605 Deer Creek Drive, a 1,700 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $235,000 - Reduced & priced to sell!. This home is the perfect size for a young family (fantastic Union County Schools) or a couple that wants a peaceful retreat. Have your morning coffee at the Crossroads Coffee Shop or to browse the Waxhaw antique stores. Your home has everything on one floor and your level treed yard is awaiting your arrival! This home is move in ready!

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Price Reduced on G-6500 Clavell Lane in Bennington Woods

Rick Waite — Fri, 26 Aug 2011 13:32:00 GMT

Bennington Woods, Charlotte - Announcing a price reduction on G-6500 Clavell Lane, a 1,700 sq. ft., 2 bath, 3 bdrm 2 story "Upper 2 floors of Condo Unit". Now MLS® $140,000 - Reduced for Quick Sale! This home is an amazing deal! It is minutes from the light rail and the Park Road Recreational center and park. Location, location, location. Why rent an apartment when you can buy a three bedroom condo convenient to everything?

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8041 Lynwood Sq. in Cureton is Sold!

Rick Waite — Fri, 26 Aug 2011 12:55:00 GMT

Cureton, Waxhaw - The townhouse at 8041 Lynwood Sq. has been sold. The sales price was $151,500! This was rare opportunity. There are very few townhomes in Waxhaw and even less for a 3 bedroom townhome within this area. Life is full of opportunities; it is not about the opportunities that you see but the one you seize! Next!

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Price Reduced on 9505 Mini Ranch Rd in Triple C Mini Ranches

Rick Waite — Tue, 23 Aug 2011 22:37:00 GMT

Triple C Mini Ranches, Waxhaw - Announcing a price reduction on 9505 Mini Ranch Rd, a 1,650 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $265,000 - Priced to Sell!.

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Why don't sellers simply "rent" their Charlotte homes?

Rick Waite — Mon, 25 Jul 2011 16:03:00 GMT

I continue to get phone calls from renters asking for sellers to rent their homes. Renting out your home is more complex than many renters realize.

First, people are moving for a reason. It could be for a job relocation, shorter commute, need a larger or smaller home, etc. Most home owners are selling their home and will "purchase" their next home. In today's world of finance, very few home owners can possibly qualify for a second home based on their current debt which includes their current home.

Based on this fact, not many home owners are interested in renting out their currently home to be a renter in someone else's home. Most people that "own a home" typically are making a large mortgage payment in addition to taxes, insurance and maintenance. This is a huge responsibility.

If the home owner decides to rent their home they must figure out how they can get the additional time and money required to be a landlord. The vast majority of rentals break even with their mortgage payments and are often losing money with the home repairs not to mention the value of their personal time spent working on the rental home fro the tenant. There are rental companies but in the greater Charlotte Real Estate market, rent will barely make a mortgage payment. There is no additional money to pay a third party to take care of the home/tenant.

I share this not to frustrate a person looking for a rental home in Charlotte but to help you understand why it typically is not possible to "just rent out your home" that is currently for sale. What options do you have if you do not want or can not currently afford to buy a home? The best financial move is to rent an apartment and save all of the money that a "home owner" would be spending to maintain their home. A couple of years go by quickly. I realize many people have dogs and kids which complicate your personal situation but hopefully you can also appreciate and understand that "just renting" your home and purchasing a 2nd home is much more complicated than that. You may be better off in the long run to purchase your own home and live the life you deserve.

Why is a "Short Sale" called a "Short Sale" when it takes so long?

Rick Waite — Sun, 17 Jul 2011 01:05:00 GMT

Why does a "short sale" take so long and why do they call it a "short sale"?

The short sale is when a the seller owes more on the home than the current market value. The Bank/Mortgage Company is then asked to accept the loss. The lender must then figure out what market value would be, and then consider if it is willing to accept the loss. To the seller and the buyer, a short sale looks more like a "long sale". What takes so long?

The Charlotte Real Estate market is experiencing some short sales. Charlotte area Short Sales can provide a great opportunity to the right buyer.

Most home loans are actually sold off to investors. This is known as the Secondary Market. The mortgage company that you make the payment often only "services the loan" (accepts payment and then forwards your payment to the real owner of the loan). The lender, that "sold" the loan to someone else, must then make the case to the investor of why they are better off absorbing the loss.

It takes time for the Mortgage Company to build a case to present to the investor. The Mortgage Company must justify the short sale. Why should "you" the investor accept thousands less than you actually were contractually promised? What is the risk of foreclosure? How much could you expect with a foreclosure? Is it better or worse than what is offered?

After the investor accepts or declines the short sale, the mortgage company provides the response. At this point, typically about four months after the buyer initially made the offer, the mortgage accepts, declines or counters your short sale offer. At this point, the lender expects you to close within 45 days of their notice.

This is difficult for many buyers. Most buyers are ready to move within 30 days or so. Waiting four months for a reply to their offer is more than many are willing to entertain. great things come to those who wait. A short sale buyer must "love" the home and be getting a great deal. If it is not "the perfect" home at the "perfect price" you will likely get tired of waiting and find another home that is equally attractive.

Short Sales will continue to be a reality in the real estate market for years to come. You evaluate every situation, consider all options and decide what is best for you and yours. Charlotte Real Estate Short Sales has many fantastic deals. Every home is considered individually. Were there simply too many homes in this price range for the area to support? Is the neighborhood declining? Are the fundamental economics strong enough for a reasonable rebound? Is it destined to fall further? The fundamentals are location, location, location. This includes schools, property taxes, commute times, nearby conveniences, amenities and much more.

If you are considering a Charlotte Foreclosure or Charlotte area Short Sales, either buying or selling, give me a call and I will share the options and will do what ever is best for your specific situation.

Lake Norman/Charlotte Area maps and Westport??

Rick Waite — Sat, 09 Jul 2011 12:41:00 GMT

I have noticed that many Charlotte area maps have been copied form the same source. Most of these maps has "Westport" on the west side of Lake Norman. Westport is not a city or a town but a subdivision. It was initially constructed back in the 70's but has newer homes all the way through the 2000's. You will see this subdivision even on Google maps. Somewhere along the line, likely the developer, created the map and it has been passed on ever since. I have created a Charlotte area map that provides a great overview of the greater Charlotte Real Estate region.

Westport is actually in the town of Denver NC. This is in Lincoln County and attends North Lincoln Schools. Westport is about a 40 minute drive to uptown Charlotte so the commute time is reasonable (barring traffic naturally).

As you begin your search for Charlotte area homes, share your questions and concerns. Just like Westport, you questions are logical. The Internet is a great place to begin but realize the information is not always perfect and multiple sources is always required.

I am big on cross checking multiple sources and assure you find the most ideal Charlotte area home for you and your family. The greater Charlotte Real Estate region has grown tremendously and we need to find the place that you will be proud to call home! Call today at 704-770-6559 for Rick Waite to find that dream home!

Colton Ridge in Indian Trail

Rick Waite — Sun, 26 Jun 2011 22:46:00 GMT

Colton Ridge is located off of Waxhaw Indian Trail Rd and is a great place to raise a family! This neighborhoods presents a mix of brick front and full brick homes with large level back yards! The homes are not "cookie cutter" and you will note a a variety on architecture within the neighborhood.

Indian Trail is located south of I-485 in Union County NC. Residents of Colton Ridge attend Indian Trail Elementary School, Sun Vally Middle and Sun Valley High School.

Amenities: This community has a cool, tennis court, recreation center and a pond for fishing or relaxing!

Shopping: The grocery store and shopping is within walking distance and new sidewalks were recently added to further enhance your neighborhood.

This is an incredible neighborhood and Indian Trail continues to expand! Whenever considering Charlotte Real Estate or Union County Homes for Sale, Indian Trail is definitely worth a visit!

Foreclosure, HUD, REO or Bank Owned Homes?

Rick Waite — Tue, 21 Jun 2011 14:49:00 GMT

There remains a lot of confusion about various terms such as HUD Homes, Foreclosure Homes, REO Homes and Bank Owned Homes. What is the difference? Is there a difference? Yes and no.

A foreclosure is technically the procedure the bank/mortgage company takes possession of a debt that is not getting paid. You do not pay the money you promised to pay the bank, the banks options is to foreclose and take possession of the home. This is done via the legal proceedings as dictated by each state. There is a public auction held and anyone can offer to purchase the home for the amount listed. Keep in mind than when purchasing at auction there may be additional liens on the property that you are automatically also assuming. In addition to potential evictions and up-bidding after the auction is over. You really need to have complete knowledge of this process before venturing into a true foreclosure.

The vast majority of the time the bank/mortgage company must buy back the home (more money is owed than anyone is willing to pay). The bank now owns the home (bank owned home). This is also called REO (Real Estate Owned) which is just another word for "bank owned homes". The bank now owns the the "non performing asset". This is a fancy way of saying it has taken possession of a bad loan.

The bank then prepares the home for sale. The mortgage company clears all lien obligations, follows the eviction process, has market evaluation to determine what the fair market value would be of the home based on the actual condition (prior to the "Foreclosure" there is no legal means of determining the condition of the home because the "buyer" still has legal possession).

The "asset manager" now has the responsibility of recovering as much of their losses as possible. They market the home with a Realtor in order to get the most money possible.

How about HUD Homes, Fannie Mae Homes, Freddie Mac Homes or VA Homes? Are these foreclosures? "Technically" no. This is actually just splitting hairs but political correctness states that HUD homes are not to be called HUD Foreclosures. Technically they are right. HUD and the other government agencies "insured the loans" that the mortgage companies made. The Government agencies tell the banks that "here are our standards" for lending. You lend the money and we guarantee it. The purpose of these guarantees is because the risk is higher than the banks can possibly risk. The Government says "if you lend to our standards" we will reimburse you if the buyer does not pay. In exchange, we get the house.

The bank loans the money. The buyer does not pay. The bank forecloses. The bank determines the home is no longer worth what was owed. The bank then basically "makes and insurance claim" and returns the home to the Federal agency that wrote the guarantee. This could be HUD, Fannie Mae, Freddie Mac or one of several others. The last owner was foreclosed but the Federal Government "technically" did not foreclose on the delinquent home owner.

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