OPEN HOUSE: Charlotte NC Home for Sale | 9416 Hampton Oaks Ln 28270

OPEN HOUSE: Home for Sale in Charlotte NC | 9416 Hampton Oaks Ln 2827

OPEN HOUSE: Home for Sale in Charlotte NC | 5122 Allen Rd E, 28269

How to Avoid Getting Your House Foreclosed On

What Is A HUD Home and Can I Buy One?

HUD homes – the backstory

You may have heard that HUD homes are a good deal if you are looking into buying a home. But what is a HUD home and why is it available at such a bargain cost?

The Department of Housing and Urban Development (HUD) defines a “HUD home” as “a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage”.

HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. In other words, it’s a property bought using an FHA-insured loan, didn’t meet the monthly mortgage, ended up in foreclosure, bought back by HUD, who is now selling it. That’s how it became a HUD home.

As to why it is available at a lower cost than other homes for sale in Charlotte, it is because the possible cost of repairs is reflected from the price.

HUD wants to sell these homes as soon as possible. To sweeten the deal, they even offer benefits and incentives for the buyers.

The HUD incentives

One such incentive is “The Good Neighbor Next Door Program” which seeks to “encourage renewal of revitalization areas by providing an opportunity for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes in these communities…in the form of 50% discount off the list of eligible properties”.

If you happen be a community worker mentioned on the list, you are entitled to 50% off on top of the already low-priced home! Imagine the money you’ll be able to save from that!

If the foreclosed homes are not sold within six months, HUD has another special offer. The agency may sell them for $1 each to local governments to  “foster housing opportunities for low to moderate income families and address specific community needs”.

How can you buy one?

For the list of available HUD real estate owned (REO) single-family properties, you can visit the HUD Home Store. This site offers the public, brokers, potential owner-occupants, state and local governments and nonprofit organizations a centralized location where they can search for HUD properties for sale.

It is also the site where registered real estate brokers and other organizations can send bids on behalf of their clients who want to purchase a HUD property.

When you’ve found a Charlotte home you like, contact a HUD-approved real estate broker who can setup a showing for you to visit the home. Unlike the process of buying regular homes, you have to place bids through your agent, and there is a time period where bids are accepted. When that bidding period is over, HUD checks all the bids and accepts the best bid where their agency can get the highest net.

HUD homes are sold as is. If the home you like requires repairs, you will be the one responsible for it. Which is why HUD encourages interested home buyers to get a home inspection before submitting an offer for the home.

Are you considering purchasing a HUD home? Call me, Nancy Braun, at (704) 997-3794.

🏠What Are the Steps to Getting Your Charlotte NC Home Sale-Ready

✋What Mistakes Can Seriously Hamper the Sale of Your Charlotte NC Home

Mistakes on the small things aren’t a big deal.

However, when it comes to selling your home, you need to do everything right. Before you get too excited about seeing the “Sold” sign out on your lawn, there are some things you should be  aware of first.

Homeowners, especially first time sellers, often commit mistakes that cause negative feedback on their home and hamper their sale.

Here are three major blunders you should avoid at all costs:

1. Improperly Pricing the Home

The most common reason why a home doesn’t sell is that the asking price has been set too high. A high price will make buyers wonder what is so special about the property but might leave them disappointed in the end.

If you price your home too high, you’re setting yourself up for a number of obstacles to selling your Charlotte NC home. Even if you receive an offer, the deal may fall apart before the closing because the buyer might encounter problems financing at too high a price.

Keep in mind that the right asking price is your most important tool in real estate. A professional market analysis done by an experienced agent like me can give you the accurate, reliable foundation you need to price your home right.

As your agent, I will evaluate your home’s location and lot size; your home’s age, size and condition; the number of bedrooms, baths, and total rooms; and the kinds of extra features it has. Then, I will compare your home with similar properties currently for sale or recently sold.  As the top real estate agent in Charlotte, I have access to the Multiple Listing Service (MLS), which gives me all the information needed to accurately and thoroughly compare your home to similar properties.

2. Staying too emotionally attached

It’s natural to grow fond of the home where you created memories with your family and friends. However, once you decide to sell, you’ll have to emotionally detach from your home. You must now view the property as a blank canvas that is ready for someone else’s memories to be created there.

Although your home may hold a lot of sentimental value, it does not directly translate to its financial value. You can’t price your home according to what it means to you.  

Some sellers make the mistake of pricing their home too high due to their attachment to the property. However, this can backfire and cause the home to languish on the market instead.

Take the time to ensure you’re emotionally prepared for the home selling process so you won’t end up sabotaging your chances of a quick and successful sale.

3. Limited showings

If your home is priced right and shows well, you could get showing requests within hours of listing the home with your agent. To sell it quickly, you need to cooperate when your real estate agent wants to show it.

Your goal is to accommodate as many buyers as possible, even if their timing is inconvenient. If you turn away prospective buyers or make it difficult to show your home, it sends a negative message — that you’re not motivated or serious about selling.

If your house isn’t easy to show, it won’t be easy to sell either.  You’ll need to be flexible when buyers ask to see your home even on short notice.

 

If you avoid these classic mistakes, you might close your sale faster and easier than you’d have thought possible.

We would love to work with you!

Call me, Nancy Braun, at 704-997-3794. We deliver fast results! The average agent sells a home in 67 days, while our average time for selling a home is only 43 days!

 

Read: How to Sell My Home Fast in Charlotte – a Comprehensive Guide

 

How to Get the Best First Time Home Buyer Mortgage

Are you excited to have your own home?

If you’re tired of renting, or living with roommates, and you want to feel like an adult and be independent, or you are getting married and starting a family, you are emotionally ready to have a home of your own.

But are you ready for the fees and responsibilities that come with it?

A home is an investment, and it may be among the biggest financial investment you’ll ever make. Many of us rush the process of home purchase, when it requires a lot of preparation and careful planning.

Decisions, decisions

Among the many decisions you have to make in buying a home in Charlotte NC  is which lender to choose.

It can be challenging to find the right lender to work with, especially since there are so many mortgage lenders ready to accept your loan application.  However, just because the lender is willing does not mean it is the right one for you.

Remember, you’ll be paying your mortgage for years to come, so you might as well take the time to study the different mortgage options available to you.

Top tips on picking the right mortgage lender

Getting a house loan is not as easy as walking into a bank or any lending institution, presenting your situation, signing some paperwork and walking out with what you need. It’s a little more complicated than that.

• Get to know the different mortgage lenders. Before you decide on a particular mortgage lender, do some research on the different lenders in your area.  The most common types of lenders are big banks, mortgage banks, credit unions and mortgage brokers.

You want to find a organization that offers a good loan program with low interest rates, one which is invested in its clients, and one which can help you close the deal fast. You can do this by searching online, asking for references from friends, family members, and your real estate agent.

• Decide on whether you need a mortgage broker or a mortgage banker.  A mortgage broker is someone who can make the job of finding lenders easy. There are several benefits associated with mortgage brokers like convenience and expertise in handling the requirements. But you should know that there are also some less than appealing aspects.

Mortgage brokers get a commission when they arrange the deal between the lender and the new homeowner.  You’ll find that there are mortgage brokers who’ll set you up with a lending institution simply because they’ll receive a higher commission, regardless of whether the interests in the mortgage lending institution will cost you more.

A mortgage banker is essentially a loan officer. These are people who have either a real estate background or someone who has worked for a different department in the bank. When you decide to get a home loan from the bank, they are the ones who will present the different products or services their bank offers, and guide you in choosing the most suitable one for your situation.

An advantage of working with mortgage bankers is they don’t get any commission on whatever mortgage you choose. Regardless of the amount of the mortgage you’ll have, mortgage bankers don’t have the financial incentive to push you to get a large mortgage deal. In fact, a lot of them say “No” to whatever outrageous requests or demands you ask for because they strictly follow their bank policies and rules.  

• Interview the lenders. Create a shortlist of mortgage lenders, and set up an interview with the best three. Prepare a series of questions to help you determine if they offer the services you have in mind.

You don’t need to get a loan to ask questions. You can simply ask the loan office or mortgage banker to assist you in understand some things. That way you can have a good amount of information when you leave.

Mortgage shopping allows you to see the different products and interest rates, which will make decision making easier.

Buying a Charlotte NC home for the first time is a great learning experience. With the right help and support from an experienced real estate agent, it will also be a beautiful journey.

Call me, Nancy Braun, at (704) 997-3794. Let me make your first home purchase a success.

 

👇What Are the Risks of Selling Your Charlotte NC Home Without an Agent?

Selling a property can be quite a complex and daunting process.

So, it’s really surprising that some homeowners decide to go through this huge task themselves without the help of an experienced real estate agent.

There are many reasons why people try to sell their homes on their own—for sale by owners (FSBO). Most of these homeowners want to save money that they would have otherwise spent on real estate commission.  

However, data from a National Association of Realtors survey shows that less than 10 percent of all home sales are FSBOs. There are serious reasons why nearly 90% of sellers choose to work with a real estate agent.

Here are some of the drawbacks of selling your home on your own:

1. Lack of experience

Unless you’ve sold a house before, you may actually sabotage the process of selling your home due to ignorance and naivety. With no prior real estate experience, you’ll have limited knowledge of the process of selling a property and the complex legislation that goes with it. You may end up putting yourself at risk of non-compliance with real estate legislation.

Real estate agents, such as our team at Showcase Realty, sell properties every day. We know the process inside and out. We have complete knowledge of taking a deal to the final stage and closing it successfully.

2. Incorrect Property Appraisal

As a private seller, you may not have the skills to correctly appraise your home. You may end up overpricing your it, which may deter buyers. On the other hand, you may also make the mistake of underpricing your property resulting in a price lower than the market value.

Real estate agents can create an evaluation of your home based on the current real estate market status. We have access to data which will help us compare your home to other similar properties to see if you are overpricing or selling for too low.

3. Limited Marketing Resources and Strategies

Do you have a marketing strategy that is at par with the real estate market this time of the year?

Most homeowners don’t have the same marketing resources and strategy as an agent. If you choose to sell your home on your own, you will need to pay for advertising costs out of your own pocket.

Marketing is one area where we really shine!  We use top marketing, strategies, technology, and systems to give our clients cutting-edge results, at top dollar, and in the least amount of time.

As real estate agents, we also have a wide network of contacts which can help us reach more buyers. This is not just through advertising sites but from our own company databases and potential buyers we’ve come in contact with at other properties. In fact, we have over 35,832 home buyers in waiting for an NC or SC home for sale in our Database.

Selling a home on your own will have a huge impact on your lifestyle. You should not underestimate the time, work, and effort involved in selling a property. It can be a big task for you to coordinate the sale on your spare time.

When you work with us, you have more time for things that matter most while we handle all  the tedious particulars of your home sale.

If you’re looking for the best agent to sell your property, you can call me, Nancy Braun at 704-997-3794. My team and I are always ready to assist you with all your real estate needs in Charlotte NC.  

Read: How to Sell My Home Fast in Charlotte – a Comprehensive Guide

North Carolina Is Now Ranked The 8th Most Moved-To State In America

Moving is a common life experience. In fact, every day, thousands of people are moving to a new home all over the country. There are many reasons why people move. Some have to do with finances and job relocation, others with personal relationships and changes to the family unit.

Just recently, United Van Lines released the results of their annual study which tracks customers’ state-to-state migration patterns over the past year. United Van Lines is a full-service American moving and relocation company. They help tens of thousands of families move all of their belongings each year.

According to  United Van Lines’ 2017 National Study, North Carolina officially ranked as the #8 most moved-to state in America for 2017.

So why are people moving? And where are they going?
Here’s what they have to say:

“This year’s data reflects longer-term trends of movement to the western and southern states, especially to those where housing costs are relatively lower, climates are more temperate and job growth has been at or above the national average, among other factors,” said Michael Stoll, economist and professor in the Department of Public Policy at the University of California, Los Angeles. “We’re also seeing continued migration to the Pacific Northwest and Mountain West as young professionals and retirees leave California.”

Read more about this article here: http://www.charlottestories.com/north-carolina-now-ranked-8th-moved-state-america/