When you’ve decided to sell your Charlotte home, did you brace yourself for future concerns and challenges? The travails of many home sellers are well-documented online, and if you happen to be fond of reading about it, it can be easy to be overwhelmed by it all. No wonder many dread selling their home. 

Selling your home does not need to be complicated nor difficult. You don’t even have to experience the same challenges and mistakes other sellers did. Here are the top mistakes many home sellers commit, intentionally or unintentionally, along with suggestions on how to avoid them.

1. Overpricing the home. Among the most common home selling mistake I see is selling the home beyond its market value. Maybe some home sellers decide it is a good selling tactic, maybe it’s because they are hoping for a higher profit, or maybe they think their home is worth more. Whatever their reason is, the home is overpriced, and it has not moved from the market for five months.

Finding the right price for your Charlotte home for sale is crucial if you want to sell it successfully. A home priced right will sell fast, but an overpriced home is likely going to stay on the shelf for a long time. 

Why? Because an overpriced home is unable to meet the features and amenities homes at that price range offer. Remember, buyers these days are equipped with the Internet, so they can conduct their research and will know if the home is overpriced.

Price your home right, and watch it sell fast!

2. Not preparing the home to sell. Once you’ve decided to sell, you should start clearing out your things, cleaning the house and fixing what needs to be repaired. Many home sellers only begin doing these things when it’s time to take photographs for marketing, or when the open house is coming. Insufficient preparation time leads to a botchy job, so when buyers come around, the home is in a disappointing state, and buyers leave uninterested.

Decluttering, cleaning, and staging are necessary home preparation processes when you to sell your house. These steps make the house to look its best to become more appealing to buyers.

Home buyers love bright, spacious and inviting homes. Get your home in Charlotte to a picture-ready state and buyers will come knocking on your door.

3. Taking bad photos. I’ve seen beautiful homes stay on the market for a long time because their marketing photos don’t do them justice. Around 90% of buyers start their home search online. When they see pictures of your home which when compared to professionally taken photographs look dark and cramped, they’ll be uninterested.

Your home’s photos are one of the best marketing tools to use in selling the house, so you need to maximize it. Get a professional photographer to take pictures of your home. They know the right angles to show off your home’s best looks.

First impressions count! Use only the best photos for your home’s marketing.

4. Ignoring the curb appeal. Unkempt front yard, toys all over the porch, are chipping paint on the door and sidings are just a few ways to ruin your home’s curb appeal. No matter how great the home’s interior is, when the curb appeal is not well-taken cared of, you won’t get interested buyers.

We all love homes with a great curb appeal. It doesn’t have to be ornate either. A clean, healthy and trimmed front lawn with a few pots of plants, and a mailbox are good enough. A freshly painted porch, siding and front door will make your home look new again, and attracts buyers.

Never discount the factor of curb appeal, it gets buyers through the door.

5. Not seeking help from an experienced agent. Your home is an asset, probably your most valuable one. As such, it deserves to be sold at its best price, and this does not happen when you decide to sell your home on your own, or with an inexperienced agent.

You do yourself and your asset a disservice when you don’t give it the best help and support before selling.   When you want your Charlotte NC home sale-ready, seek the help of an experienced real estate agent.  

Make your home selling journey mistake-free. Call me, Nancy Braun, at (704) 997-3794. Let my experience and skills work for you.

We believe in supporting America’s veterans!

On November 8, 2018, the U.S. Department of Labor recognized Showcase Realty as one of the recipients of the 2018 HIRE Vets Medallion Program Demonstration Award during an award ceremony at the U.S. Department of Labor.

The Award recognizes leadership in recruiting, employing, and retaining our nation’s veterans. Recipients of the 2018 HIRE Vets Medallion Program Demonstration Award demonstrated a commitment to veteran hiring and retention, and provided veteran-specific resources, leadership programming, dedicated human resources, and compensation and tuition assistance programs.

Showcase Realty joins 239 recipients of the 2018 HIRE Vets Medallion Program Demonstration Award ranging from small businesses and community-based non-profits to leading Fortune 500 companies from 42 states, the District of Columbia, and Puerto Rico.

The HIRE Vets Medallion Program is the only federal-level award that recognizes job creators who successfully recruit, hire, and retain America’s veterans.

We’re proud to be recognized with this award, and hope you share in our excitement. We invite you to join us in sharing this news with your family, friends, and colleagues.

For more information about the HIRE Vets Medallion Program, please visit www.HireVets.gov.

Getting ready to sell your house?

During her guest appearance on WCNC-NBC’s Charlotte Today, Nancy Braun, owner and broker-in-charge of Showcase Realty, talked about the most important things a seller needs to address before listing a home.

Selling a home successfully takes more than just planting a "For Sale" sign on your front lawn. To immediately gain a buyer’s attention, you need to make sure that even the least considered tasks are taken care of before you open the home for showings.

Today’s buyers are very selective, and they have high expectations. They want well-maintained move-in-ready homes, usually with stainless steel appliances. Nancy Braun reminded sellers about the importance of checking that often overlooked tasks like the condition of appliances, the furnace, and water heater in top working order. These tasks are essential to prevent any issues later during an inspection report.

Nancy also pointed out that home sellers should maintain and winterize their sprinkler system to make sure that it doesn’t freeze. She also advised sellers to have the fireplaces and chimneys cleaned out, and occasionally checked for possible damages.

Another important fact that Nancy highlighted was the necessity to disclose any known malfunction or defect in the home. Home sellers should familiarize themselves with North Carolina housing laws to ensure they understand what is expected on a disclosure agreement to avoid and future legal obligations -- which can even happen after the sale.

Lastly, Nancy stressed that sellers need to create a clean palette where buyers can easily envision themselves living in the home. That’s why sellers should get rid of personal items that might distract buyers.

Colleen Odegaard: Homeowners who are thinking about selling have a checklist of things to do before putting their home on the market. But there are key tasks that can be overlooked, things that are important enough to make or break a sale.

Eugene Robinson: So welcome Nancy Braun, award-winning RealtorⓇ and owner of Showcase Realty to the show to help us navigate and walk through this one. Hello! How are you doing today?

Nancy: Good morning! Good! Thank you.

Colleen Odegaard: We’re glad you’re here today! Okay Nancy, buyers are savvy. You know that. We all know that. And if they’re using an experienced RealtorⓇ like you, like yourself, there will be a thorough inspection of course, and assessment before they buy. What is the most important thing that a seller needs to address before listing their home? Or what are the most important things?

Nancy: Well, they must check all of their appliances, and check all of their furnace, their water heater, making sure they’re all operational, that they’ve been serviced recently, that their filters have been changed, that their light bulbs are working. All of those things are gonna come up and, as possible issues on the inspection report, which they could be a non-issue. An inspector might think that the light fixture is broken just because the light doesn’t go on and it’s just a matter of turning the light bulb a little more or switching it out. So we wanna make those non-issues right at the beginning.

Eugene Robinson: So let’s drill down a little bit. What should their plans be? What types of shapes should they be in?   

Nancy: Well, buyers are very picky today. They have really high expectations. HGTV has really changed the world! So, they want move-in ready, they want it really gorgeous, they want it sparkling clean, and they’re expecting all their appliances to be stainless steel today, and newer. They’re really afraid of having to have unexpected expenses when they move into a home and have to replace things. And they’re higher standards because of the remodel HGVT kind of effect. They think that their home should be as beautiful as what it is on TV. Yeah.

Colleen Odegaard: Okay, so that’s for sellers to think about. Let’s talk about the sprinkler system. That can be an easy thing to overlook. Is it critical for the seller to make sure that the sprinkler system is in perfect working condition?

Nancy: Yes! It’s a simple, easy thing to do, but a homeowner might have that inspected. So, we’re supposed to be winterizing our sprinkler system now to make sure that they don’t freeze so, make sure you call your irrigation company and have that addressed. And then you’re gonna have it de-winterize in the spring. And at the time that they do that, they’re gonna make sure all of those naturals of sprays are working. So, simple fix. Don’t make an issue of it if you fix it upfront.

Eugene Robinson: Well, what about here? Fireplaces, chimneys, I’ve even called a chimney sweep now to clean up my chimney, you don’t need to clean up the fireplace. What do I need?

Nancy: Yeah. It’s a great idea. I think it’s so overlooked. No one thinks about it. So if you actually have a wood-burning fireplace, absolutely call up one of those companies that have the ability to go in and clean it out. And just do a check. Because you could have cracks in the mortar, and that can be really dangerous. So, you wanna make sure you have that checked maybe every five years. Make sure that it’s, you know, no real issues.

Colleen Odegaard: How much of a disclosure are we talking about?

Nancy: Okay. So, under North Carolina law, and South Carolina law, you really have to disclose any known malfunction or defect to your home. So, it could be as simple as an electrical socket. You know it doesn’t work. But later on if you didn’t disclose it and you knew it wasn’t working, you’ve really violated that rule. So you do have to disclose anything that you knew about. It’s some things that could come up to bite you after you close on the house. Even after the buyer has done their due diligence and done all their inspections, and they bought the house at its present condition. But if they later buy the house, and then a neighbor runs over and says, “Hey, Sally! Welcome to the neighborhood! Did your seller tell you about the drainage issue they have in the backyard? The standing water? Did they mention that, you know, their AC unit needs to have freon charge? Every summer I see that truck pull-up.” Well now, that seller who thought they washed their hands off that house and walked away, is under a legal obligation. So it could come back to bite them later. So, over-disclose is better, even if you know that there’s a potential problem, or an issue. It’s better to disclose because, you don’t wanna have to look back later.

Eugene Robinson: So what are some other tasks that the seller needs to address? And what I am thinking about are merely, you always have a lot of personal items, and personal pictures when you’re trying to sell your home. Is that a good thing to keep those things up? Or not keep those things up?

Nancy: Well, I’m not a big stickler on that unless it’s just overkill. You know if, there’s way too many wedding photos, way too many kids photos that it’s distracting to the house, then I’m gonna ask that we have them removed. So, you know, we certainly don’t wanna have anything distracting from, someone envisioning themselves in the house.

Eugene Robinson: So you want a clean palette for the most part?  

Nancy: Yeah. Ideally. Ideally. And if anyone’s been to a new neighborhood, and gone into a model home, that’s like, you know, the perfect scenario of course people live in this home so you’re never gonna get to that level. But sparse is always critical and neutral tones are very good. Smell is, you know, real deterrent. So if there’s scents in the house that might deter someone. If there’s a smoker in the house that’s certainly gonna be an issue. All of those things you just have to think about, what, you know, animal smells, pet smells.

Colleen Odegaard: Lots to think about for sure. Nancy can help you with all of this. By the way, for free copy of Nancy Braun’s report on the “8 Seller Tasks That Can Make Or Break A Sale”, visit ReadyToSellNC.com. ReadyToSellNC.com. You can also call Nancy at 704-488-3109. 704-488-3109. Nancy Braun thank you very much.

Eugene Robinson: Alright.

Nancy: Thank you.     

Nancy Braun with Carolina Property Management shares valuable insights on why you should consider hiring a property manager.

It is a great time to be in the residential business service because the rental market is growing. In fact, at present, renting is happening across a wide range of demographics.

While property management can seem like an exciting task, it also has the potential to give you a lot of problems. Being a landlord is not a walk in the park. Although it can be financially rewarding, managing a property also requires the commitment of time and effort.

This is where property management firms, like Carolina Property Management, come into the picture.

Working with a rental property management services provider can help you make the most of your property while also maximizing your time and money.

Carolina Property Management, LLC is a subsidiary of award-winning Showcase Realty, LLC. They have built their business and their reputation by providing exceptional service for both their tenant customers and their investment property owner clients.

They work with a variety of rental property owners and tenants in connecting them for a mutually beneficial relationship. If you want help in reducing your hassles of being a landlord, improving your ROI, and eliminating your headaches and stress, you should seriously consider working with Carolina Property Management. They can help you manage your property, keep your tenants happy for a long time, and leave you with fewer vacancies.

Eugene Robinson: Managing rental property is a big responsibility, but you don’t have to do it alone.

Colleen Odegaard: Nancy Braun with Carolina Property Management has your Realty Reality Check!

Nancy: The reality is the rental market is booming. Millennials are renting longer, GenX makes up a 3rd of the market, and Baby Boomers are the fastest growing group of new renters. They’re all high-tech savvy, and want to make payments and maintenance requests online. If you’re a property owner, you know how hard that can be to keep up with. That’s why you should consider hiring a property manager. They can help you manage your property, keep your tenants happy for a long time and leave you with fewer vacancies. Therefore, your rent revenue will increase. I’m Nancy Braun with Carolina Property Management.  

During her guest appearance on WCNC-NBC’s Charlotte Today, Nancy Braun, owner and broker-in-charge of Showcase Realty, shared valuable insights on the current condition of the Charlotte real estate market and what it means for home buyers and sellers now as we enter the winter market.

With hot real estate markets like Charlotte primed as the preferred destination for Millenials, Downsizing Empty Nesters, Relocators, Executives and others, Nancy expressed that it’s important to use an experienced and knowledgeable real estate agent to help make an informed decision on when to sell or where to buy to fit in with your specific needs.  

At present, the Charlotte market is at an all-time high, however, there are fewer homes for sale right now.  There are several reasons for this, including the fact that millennials (the present generation of potential first time home buyers) are delaying buying their first homes. As a result, there are just a few move-up buyers.  What is interesting, according to Nancy, is that Millenials are buying higher priced-homes after saving up, and are skipping the lower cost starter homes. This fact is apparent in the reduction of home inventory for move-up buyers.

Nancy mentions that there are fewer homes to sell at present. And with buyers looking to relocate, there’s bound to be some competition. Aside from the millennials, the baby boomers are also in the market as they seek to downsize.

For sellers, Nancy recommends that it’s best not to wait for spring before listing a home for sale. It’s better to put it on the market now because of the low inventory. For buyers, she suggests that they should pay more attention to interest rates because it’s the one thing that really drives the cost to the house. In fact, it’s more relevant than the actual purchase price because it affects how much the buyer is going to spend on the purchase in the long run. Although interest rates are still historically low, buyers should act fast because they have been gradually rising, and are expected to continue to do so.

Nancy also offers a Home Buyer Guarantee. If you purchase a property with her team and within 12 months you decide you don’t love the home, then they’ll sell it for free. Get in touch with them today to know more about the Home Buyer Guarantee and the conditions that apply.

If you’re looking for real estate experts who know the ins and outs of the Charlotte real estate market, there’s only one team you can trust — Nancy Braun and her team of agents at Showcase Realty.  Call them today at 704-488-3109 and experience unparalleled real estate service.

Eugene Robinson: Well Charlotte’s Real Estate market is booming. In fact, it’s at an all-time high. So what does that mean for buyers and sellers? We welcome Nancy Braun with Showcase Realty to the show. Hello, Nancy! How are you doing?

Nancy: Good morning!

Eugene Robinson: Well good! Okay, let’s talk about the market is really at an all-time high, the economy is growing right here in Charlotte. However, why are less and less homes on the market right now?

Nancy: This is a quagmire for the entire country. We don’t have enough homes to sell, and it’s causing a lot of troubles for buyers, because there’s tons of buyers out there. Tons of people moving to Charlotte, the economy is very strong, but we just don’t have the inventory, so a lot of different factors are in play, the millennials kinda held out. They didn’t go ahead in buying their first time homes, so there. We don’t have the move up buyers, we have the people that are just kinda hovering and so, they’re not selling those homes - those initial, first time homes cause they never bought them. So a lot of hedge funds came in during recession, bought a lot of first time homes, they’re holding on to them, they haven’t sold them. So we’re missing the inventory, which is really affecting our real estate market.

Eugene Robinson: But this is not, this is not the exact size at all? It’s just like, you kinda don’t know what to expect in that?

Nancy: No, we don’t know, but there’s, you know, everywhere I go, people always ask me, “How’s the market?” That’s the cocktail question of the day when you’re a Realtor®. Everyone says, “How’s the market?” And the market in Charlotte, except for the recession, has always been extremely strong, and it’s just been growing and growing since the recession. It’s been, really, really hot. But the reason why we’re selling less homes is cause there’s not much to sell.

Eugene Robinson: Okay, but here, does buyers still looking to relocate there, right?

Nancy: That’s right. There are buyers that are looking to relocate. The millennials are coming back into the market now. But they’re actually looking at their second-home price range, as opposed to looking in the first time home price range, cause they waited, at least six years than, what is normally the factor. We also have, this is really common for me right now, is people that are trying to downsize. The baby boomers are trying to get rid of that mammoth home, get rid of some of the obligations of a large home, the maintenance of a large home, the large land. They want a smaller home, one story, so they can go travel. They don’t have to be, you know, burdened by maintaining a big house so, they are also in the market.    

Eugene Robinson: Yeah, but that is one of the misnomers because I’ve always thought this. That you have to wait for springtime to go ahead and sell your home, but you’re saying that’s not true based on the landscape you just showed me.

Nancy: No, I would absolutely not wait for the springtime. And I’ve actually been proponent of listing homes to now. The market is very, very strong, and there’s less inventory out there. Typically it’s less inventory because people wait till the spring. But if you’re waiting till spring, when you’re waiting for all the flowers to bloom, you’re gonna actually put your house in the market when everyone else does. But the buyers are always there. So won't you rather be the one that puts your house in the market when there’s less inventory than have all that competition?

Eugene Robinson: Oh, absolutely I wanna have less inventory and all that competition I wouldn’t see. Okay what about the interest rate? The interest rate right now is low and that governs a lot based on what everybody does, based on interest rates. So what does that mean for buyers and sellers and what does that mean for the future?

Nancy: Right. So, it’s interesting when I’m working with the buyer. They’re so focused on getting their price. So they might be worrying about a couple thousand, five thousand or ten thousand dollars off the price. But they don’t focus on the interest rate. The interest rate is the one that really drives the cost to the house over the thirty years or however long you’re gonna live there. It’s much more relevant than the actual purchase price because it affects how much you’re gonna be spending on that purchase. So, the interest rates are still, historically low, but they are, they have been gradually rising.

Eugene Robinson: So they’re moving up gradually?

Nancy: They have been moving up and, all the economists are anticipating that interest rates are gonna continue to rise. So, if you are thinking about buying, I would suggest you buy sooner, cause that affects your buying power, how much you can afford on a monthly basis.

Eugene Robinson: And what does that buying power, typically here in Charlotte, what does buying power look like right now for people?

Nancy: So, the buyers are, it settled down a little bit. It’s not as crazy as spring where we’re getting 20 offers on a listing and, you know, people were just, overbidding. Now it’s kinda calm down a little so it’s better for buyers and, they just have to be patient and wait for the right house to come up because, it might not be right there, right then. But it’s certainly, if I were in the market to be buying and I’m using a mortgage I would say, “I’d rather buy with a lower mortgage rate than wait for the mortgage rate to go up.” Cause we know it’s gonna go up.

Eugene Robinson: That’s why we need somebody like Nancy who can go ahead and go through all the nuances, all the details, look at the, all the different comps, the inspections, due diligence, all the stuff that you don’t think that you need to know about, she knows about. Nancy also has a book, that answers all these questions, all your questions, that’s called the No Holds Barred Guide to Buying and Selling Your Home in the Carolinas. I love that. For your free copy, and I said free copy, visit ExpertHomeHelp.com. Or, this is what you need to do. You call Nancy. Give her a call at 704-488-3109. I’m saying the number again, 704-488-3109. There’s a lot of things that you don’t know that she does know, and you need her brain to get that. Thank you very much, Nancy.

Nancy: Thank you. Thank you so much.   

Are you ready to finally take the leap into homeownership?

In the latest episode of Charlotte Today, Nancy Braun shares some helpful insights about buying a home in Charlotte NC.

Buying a home is one of the biggest decisions you will make in your life.  It is also the best investment you will make. Not to be taken lightly, as with any major transaction, it’s important to use experts to guide you through the process.  Award winning real estate agent and owner, Nancy Braun, and her team of agents at Showcase Realty, have served thousands of home buyers in Charlotte and its surrounding areas since 2008.  They know every nuance of real estate purchase, and are the ideal examples of who you need to work with to realize your home buying and investing goals.

The process of home buying is exciting, but can be tiresome. House hunting is a long process. However, Nancy and her team of real estate professionals make the experience supportive, smooth, and as hassle-free as possible. They will assist you by clarifying features you need the most, and will find you options that meet your specifications as much as possible. Nancy believes that every client’s time is precious, and she ensures that they see the right homes rather than set their hopes on the wrong properties. 

Nancy will walk you through many different criteria and provide you counsel on location, neighborhood, schools, and other important factors that suit your lifestyle. Having the expert advice of someone who knows the processes involved will save you time and lessen the stress. In addition, Nancy provides her clients with an easy to follow, but very helpful and informative home buyer program package that explains terminology and the step-by-step process. Her goal is to educate her clients from the start, so that all their questions can be answered.

As an added service bonus, Nancy also has a network of preferred lenders she knows will serve her clients needs professionally, and efficiently . She can also help you with North Carolina’s $8,000 down payment assistance plan.

Nancy also offers a Home Buyer Guarantee. If you purchase a property with her team and within 12 months you decide you don’t love the home, then they’ll sell it for free. Get in touch with them today to know more about the Home Buyer Guarantee and the conditions that apply.

With their neighborhood expertise, market knowledge, personal customer service, and high levels of professionalism, Nancy Braun and her team at Showcase Realty will definitely help you get the best deal possible.

Call Nancy Braun today at 704-488-3109. She would love to show you why Showcase Realty offers the best award-winning services in Charlotte NC.

Eugene Robinson: Well there’s a lot that goes into buying a home. The process can be very tricky, that’s why you need the right RealtorⓇ to help you.

Colleen Odegaard: We have just one! Welcome this morning, Nancy Braun with Showcase Realty! Nancy good morning, we love having you here. How are you today?

Nancy: Good morning! I’m great. Thank you.

Colleen Odegaard: Good! Okay, so someone is interested in buying a home. And they called you to help. What are some things that you want to know from that potential client?

Nancy: What I want to know? Well, we sit down with them and  we go through our home buying criteria and our package and all our processes so, we’ll ask him many, many questions. We really don’t want them to waste time looking at properties online or in person that don’t fit their criteria. So we wanna know their motivation, what was, you know, why their current residence isn’t satisfying them, what they’re really looking for. It’s not just always about size, or, you know, number of bedrooms… it goes much more deeper than that. It’s neighborhoods, what school systems they wanna be in, and do they want a big yard to work with? Do they wanna be in a neighborhood with amenities? Do they wanna do some fixing up themselves or do they wanna move right in and just unpack their bags? So there’s so many different criteria that we’re gonna walk them through.

Eugene Robinson: Well, of all the many choices that people can get a real estate agent, what makes you different? Why are you so unique?

Nancy: Well, we have, we believe we have lots of reasons, but, we are gonna walk them through the process from we first meet them, and we give them this very extensive buyer packet which explains terminology, the process, and we’re gonna show them the entire process. We have a big volume in front of us that’s gonna show them what an offer to purchase looks like, what an inspection looks like, what an appraisal looks like, what the due diligence fee is, what inspection reports look like, what kind of inspections should they anticipate that they should get, what a, we call it a “Buyer Letter to the Seller”, what that looks like, what a multiple offer package looks like, what a home warranty looks like. Rather than hit them at the instance when they’re putting the offer in, we’re gonna educate them right at the very beginning of everything that they should anticipate and expect to see. So they can, all their questions can be answered and it won’t be such a scary process.

Colleen Odegaard: That’s certainly very helpful. When should a homebuyer start doing their research and what should they be researching? I know that one, I’ve looked for homes in the past, just gonna go online and look at pretty pictures and think, “Ooh, I like that!” and I kind of stops there. What should we be researching and at what point you start that?

Nancy: Right, so the average number of months before someone actually purchases a home versus starts to look online is 33 months. That’s a long time that people are actually, you know, tire kicking online and looking at houses. And, it seems like, you know, that you can find everything yourself by going on the various portals and Zillow and red finite things like that but you really need the agent to narrow it down further so you’re not getting your excitement and hopes up for the wrong house. So, too often, we’ll have people coming in to town, and they’ll just, “Hand me a list of MLS numbers and say, “I wanna see these homes!” Well I’d rather sit down with them, look at the homes online, and then say, well, “Didn’t you say you wanted a master down? This one is a master up. Does that gonna work for you? Cause your time is precious, and we wanna make sure you’re gonna see the right homes, and not get your hopes set on the wrong home. So, if you sit down with a RealtorⓇ before you even start the process, they can narrow that criteria and really, only provide you with the homes that fit your criteria that really work.

Eugene Robinson: Know what, that’s just the home.There’s the other component, that was, the money part of it. What about the loans? You help with the loans? Do you expect them to be pre-qualified?

Nancy: Oh yeah. We certainly would help them with that. We have preferred lenders that we work with, that we have great rapport, great experience with, and then we’ll walk them through that process. There’s so many different loan packages out there so one loan package might offer a lower interest rate, but the other one might be able to give them more flexibility, or a shorter time period for the payoff, so it really depends, you know if the person is, maybe, cash poor, doesn’t have a lot of money saved, maybe we need to go with a low down payment program. North Carolina actually has $8,000 down payment assistance plan, so that’s just, you know, money that don’t get to help them with their downpayment. So, it’s always everyone who always want to see interest rate but, let’s look at the total package, the total cost.

Colleen Odegaard: Nancy will help you with all of that. You offer a guarantee to homebuyers. What is it?

Nancy: So if, when you’re purchasing a property with us, if within 12 months you decide you don’t love your home, then we’ll sell it for free.

Colleen Odegaard: Wow! That’s a great deal! Look at that! Yes! Nancy, thank you so much. By the way, to get a free copy of Nancy’s VIP Buyer Agreement, give her a call. The number is 704-488-3109. Again 704-488-3109. You can also visit her website - it’s HouseBuyerProcess.com. HouseBuyerProcess.com. Nancy is really top of her game. She’s great. Thank you so much for being here.

Nancy: Thank you.     

If you think it is time to get your own Charlotte NC home but are afraid you’ll be denied because your credit score is less than ideal, you’re not alone. Many people would like to acquire a mortgage, but their fear of denial keeps from applying for one.

Your credit score has a significant impact on your home purchasing power.  But do you know you can still acquire a home mortgage even with your not-so-pleasing credit score? If you are set on getting a home in Charlotte,  there are other ways you can obtain one.

Before you explore your other options, you first need to know what exactly is the credit score the lender requires. Credit score runs from 350 to 850,  with 700-740 as the base for good borrowers, but lenders differ in the credit score requirement. While your bank may ask for a credit score in the range of 700, others may be okay with a score of 650 and above to qualify you for a conventional home mortgage.

Check the credit score requirement of the banks and lenders in your area to see which ones will accept your credit score.

Once you have your score evaluated and realized it’s still lower than what many lenders require, it is time to seek for alternative ways of getting a home loan.

1. Opt for smaller banks or credit unions.

If your FICO score happens to be sitting in the low end of the credit spectrum, but you have a sizable amount of savings in the bank, try asking for a mortgage from smaller banks or credit unions. These lenders have more flexible lending guidelines, so you can approach them and explain your situation. A substantial down payment will also help because it lessens your premium, so it’s less risky lending to you.

2. Look at non conventional lending programs like Federal Housing Administration loan.

For many years, FHA has been supporting people on the mid-range FICO score range to avail of mortgage loans. This year, FHA released a new policy which allows more mid-range FICO scores to get a housing loan.

If your credit score is above 580, you are eligible for a 3.5% down payment. If you belong to the range of 500 - 579, you are still qualified for a loan but must provide a 10% down payment on the home.

3. Ask help from a family member with excellent credit to take the loan, or co-sign.

This option will work if you know a family member (parents, sibling) or a friend who has an excellent credit score and a reliable income to help you out and co-sign your loan. It is common among students paying off their student loans, or young couples who would like to get a home of their own.

When you need to refinance or get a home for sale in Charlotte, the suggestions presented above are good choices. However, it’s better to wait for your credit score to improve before you apply for a mortgage. This way, you don’t have to put out a lot of money, and your mortgage rate will not be so high.

Don’t let your not-so-sterling credit score hamper your dream of buying your own Charlotte NC home.

Call me, Nancy Braun, at (704) 997-3794. I can help you find the home that fits your budget and lifestyle.

Like many first time home buyers, you are probably excited to look for your Charlotte NC home. Maybe you’ve even started looking at listings of homes, searching for homes that may fit your requirements.

Before you get too carried away planning about your dream home in Charlotte NC, one of the first things you have to do is to know your credit score. Your credit score will help you know whether you are actually qualified for a loan, and if you are, how much home you can afford.

Your credit score is a number that indicates your financial trustworthiness. It is based on your credit history.  Your credit score tells lenders what type of borrower you are, if you have the ability to pay your loans, and how you manage your payments.

This three digit number plays a major role in  your life.

Banks, car dealerships, and credit card companies use it to evaluate your ability to pay. Insurance firms use it in setting your rate. Landlords use it in checking to see if you can afford to make monthly payments consistently.

Some employers even use it  to gauge whether to hire you or not!

Credit score runs from 200 - 850. The higher your score is, the better your rate will be.

What influences your credit score rating? The following are the factors that impact a credit score.

• Payment history. This refers to your previous payments for all your loans - student loan, rent, car loan, insurance, credit cards, etc. Your history reflects whether you are likely to make payments on time, or if you are always late on your payments. It also makes note of how much was left unpaid, how recent this happened, and how often it happened.

• Credit utilization rate. This refers to the percentage of credit you’ve used. It is comparing the balance of the card to the amount of the credit limit. The more credit you use, the lower your credit score can be.

• Number of credit accounts you have. Another factor that has a high impact on your credit score is the number of accounts you have. It also takes special consideration for the most recent accounts you’ve opened. If you are planning to get a home mortgage loan, don’t open any new accounts as that gives you more means of spending, which means another debt to be paid on your tab.

• Total amount of your debts. There are different kinds of debts, and the aggregate amount will be considered when checking your credit score.

Now that you understand how credit score can affect your home mortgage loan, you may be wondering what credit score is needed to get a home mortgage loan.

Unfortunately, there is no set answer to that. Each lender has their own set of guidelines to check and follow.

There are also some other factors that are taken into consideration for the approval of your mortgage loan.

Thus, if you are planning to buy a home, it is a good idea to get your credit report so that you can evaluate your finances. You can get a free lender report each year from annualcreditreport.com.

Would you like to know if you can afford that dream home you’ve been eyeing for months? Get a free credit report, or have your credit score computed. That way, you’ll know if you can afford the payments for your dream Charlotte NC house, or if  you need more time to save.

Call me, Nancy Braun, at (704) 997-3794. Allow me to help you find the right home that will fit your budget and lifestyle.