Foreclosure Trends Bowing Out of the Housing Market

There has been a lot of discussion recently about foreclosure inventory in the nation, with some speculating that inventory is about to increase dramatically. Today we’re going to look at what is actually going on in this division of the housing market.

In their recent National Foreclosure Report, Corelogic explained that foreclosure inventory has actually seen a decline of approximately 23.2% since last year at this time. The report also stated that in 49 of 50 states there have been significant foreclosure declines with 45 of the states having double-digit decreases posted year-over-year. The following chart illustrates the trends:

More findings in the report show that:

• The number of homeowners who are more than 90 days behind for mortgage payments (also known as Seriously Delinquent Rate) was 3.1%; this is the lowest percentage since November 2007
• Foreclosure rates are sitting at 1.1%; a number lower that it has been since November 2007
• Foreclosure Rate have been in decline for 53 consecutive months

Bottom Line

While foreclosure properties still have a presence in the housing market, their numbers are decreasing dramatically. With mortgage delinquency rates also decreasing, it is not wrong to assume that the foreclosure crisis has reached a peak and is now on its way out.

With foreclosures becoming less imminent, you may be thinking about buying in the current housing market. If you are eager to own your home but still aren’t sure about which road to take, feel free to browse our article on Renting vs. Buying to get some fresh insight.

Want to talk with one of our real estate professionals? We’d love to help you! Feel free to give us a call at 704.997.3794 to have any of your real estate questions answered, or send us a message here.

Buy your home in the Carolinas with Showcase Realty. If you are not happy with your new home, we will sell it for FREE! Details Here!

13 Reasons You Should Not Sell Without A Real Estate Professional’s Help

If you’re considering selling your home without a real estate professional, you may be doing this to try and save some money in your budget. While some people choose to sell on their own, the number of people doing this is in decline. According to survey by the National Association of REALTORS^®(NAR), approximately 8% of home sellers list on their own resulting in a record-low numbers.

Why is selling on your own a bad idea? Read on:

1. Your emotions will affect the process
Home selling is a very emotional experience, and this is one of the biggest reasons homeowners should hire a real estate agent. It is possible that buyers will present low offers, disagree with your style or see less value. Will you be able to remain professional throughout, regardless of their opinions? Real estate agents are very helpful for these types of situations.

2. Bias Opinion of the Home
Your home may look comfortable and well-decorated to you, but a home that looks lived-in is not what a buyer is looking for. Aside from cleaning the house, you should also get rid of clutter and de-personalize that home as well. A real estate professional will have a helpful outside eye that can give you tips on what to keep and what to put away.

3. Lack of attention to problems in the home
Not only should you home look good, but it should smell good as well. After living in your home for so long you may not notice unpleasant smells that you’re accustomed to, but you will certainly need to take care of these problems. A buyer does not want to smell pets, molds or musty smells (which could point them to water damage). Have an agent help you confront these problems and have the, cleared to make your house look and smell good.

4. Your décor is outdated
Having an outdated home may not only slow your selling success but bring it to a halt altogether. Even the smallest updates in the kitchen and bathroom can make a huge change, so consider investing a small amount in these rooms and have your agent help you to point out possible upgrades to consider.

Listing without any updates just to save a few dollars may really hurt your home sale in the end.

5. You have a view of the busy freeway
Does your home get a lot of unwanted noise from the nearby freeway? An eyesore like a busy freeway or train track may be deal breakers for buyers, but a real estate agent may think of ways to solve the situation that you never thought of. They may use smart pricing strategies, design ideas or focus attention to other areas that will help you sell faster.

6. You do not have a large network
This is one of the biggest benefits of having a realtor; they will have a much larger network that allows them to reach more buyers and potential visitors who might want to see the home. Having these connections is extremely important; if you need contractors, painters or other professionals to help with the home before a sale, and agent can certainly help with that as well.

7. Your dream selling price is too high
You may have to lower your asking price by $20K, and then lower it by another $10K before its close enough to its actual value. This is another emotional issue for home sellers; while you may think the home is worth much more, market value is market value. A real estate professional will give you an honest valuation of your home and they will have a much easier time sticking to that value.

8. You see your home differently than buyers
You might think your home is charming and rustic, but buyers may see it as small and outdated. A realtor will have an eye for this and be able to help you update the possible issues.

9. You don’t know what moves to make
What if you get an offer that’s $30,000 below your asking price? Would you know how to proceed? What if you ask for a higher price and the buyer goes with another home? A realtor can help you make smart decisions and deal with potential buyers effectively.

10. You might not negotiate very well
This is where a real estate professional comes in handy, since this is a part of their job every single day. Homeowner’s may not consider that they will have to negotiate with potential buyers, and that buyers may make demands that they’re not ready to meet. An agent will take care of all of these problems and more- and it will be well worth the commission you pay.

11. Your yard is a mess

The first thing potential buyers will see of your home is the front exterior, and this curb appeal will help get your home sold quickly. A realtor will help you with simple, cost-friendly changes to update the exterior look to bring in more viewers instead of scaring them away.

12. The Seller
As a home seller, YOU are the main reason your home will be sold. Your decisions and approach to selling will determine whether you get potential buyers and whether you sell your home successfully. If you pester buyers during their viewings, you may turn them off to go somewhere else.

To ensure you make good decisions that result in a sell, rely on your agent to take care of buyers and to inform them of all of the details in the home. If you are pestering buyers during the viewings, they may not want to deal with you during the rest of the process.

13. The Money
The NAR reported that homes that were sold by the owner made less money overall. In the year 2015, FSBO (For Sale by Owner) homes had a median selling price of $210,000, and went as low as $151,900 if the buyer knew the seller. In comparison, homes sold by agents had a median selling price of $249,000, which is $40,000 higher for a typical home sale.

Home selling can be a very exciting experience, but it can also be overwhelming if you don’t know what you’re doing! At Showcase Realty, we’re happy to extend our experience in real estate to help you find success in your home selling journey. Contact us here!

Want to get started now? Ensure your price is accurate. Questions? Call us today today speak with one of our qualified real estate professionals at 704.997.3794.

Are you hoping to sell your home fast and in a less amount of hassle? You need Showcase Realty’s help!Your home will sell in 120 days or I will pay you $2500! Details Here!

First Golf Entertainment Complex Opening Soon in Charlotte

Exciting news is about to put Charlotte on the map for golf lovers everywhere. A Golf Entertainment Firm named Top Golf has set its sights on the city, and its new facility is set to open in early 2017. It will be located at Interstate-485 and Arrowood Rd.

This will be the first golf entertainment complex in the area, and re-zoning has already been approved by the Charlotte City Council for construction to begin.

What it is?

Top Golf’s design is much like that of a bowling alley; groups are given designated “alleys” where they can eat, drink and compete against one another on simulated golf course screens to get the highest score. Each golf ball contains a microchip to track your accuracy and distance, and extra points are given for hitting specific targets.

The program can cater to competitive golfing games for all ages and skill levels.

Features

The facility is designed with entertainment in mind, with plans for 230 high-definition flat screens, bard and beverage menus and 3,000 sq. feet of space for private event space.

The economic output for Top Golf is expected to reach $264.5 million over a 10-year-period, and it’s expected to cater to approximately 450,000 visitors in its first year.

Charlotte is certainly becoming a very popular place to set roots. Are you thinking of moving into the Charlotte area? These Top 10 Locations to live in Charlotte might give you a better idea of where you want to look!

If you’re seeking help in your home buying journey, we’re happy to guide you! Give us a call for both your buying and selling needs at 704.997.3794 or send us a message here!

Nancy Braun, Owner of Showcase Realty, Featured in Real Estate Industry Publication

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Moving to Charlotte: Every Home Buyer Should Know This!

They Tried to Sell Their Home for 2.6 Years With NO Luck. Showcase Put it Under Contract in 1 Month! Here’s How We Did It

Charlotte’s Top 10 Locations to Live In

Charlotte is a beautiful city, noted for its historic charm and laid-back atmosphere. This is a great place to invest in a property and start a family. You may want to be one of the homeowners of the gorgeous properties at these Top 10 Location in Charlotte, NC best to live in:

Over time Charlotte has become one of the largest cities in the United States. Regardless of its recent growth, Charlotte remains a place of history and boasts a “streetcar-era” style. Vintage factories can be seen in the South end and colonial-style houses are statement landmarks in the area. The area boasts a nice blend of past and present, with a large mix of working and upper class citizens.

Check out 10 of the best listed homes in the city of Charlotte:

#1 Eastover
Eastover is a very sought-after community in Charlotte. The area is known to be peaceful and laid back, attracting a lot of new families.

With its rich past, this area has been ranked in the No.1 livable place with a score of 87.

Specs:

* 97 % graduation rate for high school
* Crime rate is 59% lower than the average in Charlotte
* Average income per household is $221K
* Cost of living is 93% higher than the average in Charlotte

#2 Commonwealth

This area is known as the “Downtown Plaza Midwood”, and it boasts a lot of new properties for those looking for a newer property. Potential buyers have their fair share of places to consider including modern flats, traditional townhomes and historic homes.

Livability score: 86%
Ranks: #2 in Charlotte
Ranks: #4 in North Carolina
* 100% high school graduation rate
* Has a 59% lower crime rate than the average in Charlotte
* 60% higher income than the average in Charlotte
* Household median is set to $84,000
* Home prices are somewhat higher than the average in Charlotte at $279,000
* Cost of living is 13% higher than the average in Charlotte

#3 Barclay Downs

Located in an area known for its live/work communities, South Park of Charlotte is a great place to set roots. This area includes Piedmont Row, The Colony and South Park Mall. The area also features key amenities like specialty retail shopping, awarded public schools, regional libraries and more.

Livability score: 86%
Rank: #3 in Charlotte
Rank: #5 in North Carolina
* Has 99% graduation rate for High School
* Average income is 73% higher than the average in Charlotte
* Median household income falls $91,000
* Price: $493,000
* Cost of living in the area is 39% higher than the average in Charlotte

#4 Dilworth

Known for its impressive churches, oldest streetcar suburb, rebuilt bungalows, renovated historic homes and majestic parks. Most homes were converted into trendy shops, restaurants, galleries, pubs and unique office spaces. Homeowners who are looking for something with unique characteristics will certainly find something here.

Livability Score: 86%
* 94% Graduation Rate for High School
* Area has an average income that is 73% higher than the average in Charlotte
* Median household income sits at $84,000
* Home prices average $452,000
* Cost of living is 33% higher than the average in Charlotte

#5 Myers Park

This garden suburb was created by Architect John Nolen as requested and is now Charlotte’s most beautiful community. It’s also known to be the most reputable and affluent neighborhood in Charlotte.

Livability Score: 85%
*99% Graduation Rate for High School
* Average income is 131% higher than the average in Charlotte
* Median household income averages $122,000
* Homes are priced at $723,000 on average
* Cost of living is 68% higher than Charlotte average

#6 Fourth Ward

Fourth Ward boomed in the mid-1800s, when St. Peters Episcopal Methodist, First Methodist and First Presbyterian were constructed. The area is a beautiful blend of historic, traditional homes and modern luxuries, parks and businesses.

Homeowners who are looking for a nice blend of past and present will certainly find a unique property to settle here.

Livability Score: 85%
* 95% graduation rate for high school
* Average Income is 42% higher than average Charlotte income
* Median household income is $75,000
*Home prices sit at $269,000 on average
*Cost of living is $13% higher than average in Charlotte

#7 Foxcroft

Foxcroft is very desirable amongst the other Charlotte areas. It offers stunning landscaping, unique large lots and mature trees.

Those who are looking for a well-developed area will appreciate this community and its natural elements.

Livability Score: 85%
* 96% graduation rate for high school
* Average income is 144% higher than average
* Median household income is $129,000
* Home price average sits at $677,000
* Cost of living is 61% higher than the average in Charlotte

#8 Plaza Midwood

A hip and urban area that is rich with history, potential homeowners who are looking for an eclectic area will certainly appreciate Plaza Midwood. History buffs will love the Van Landingham Estate and The Charlotte Country Club, and there are lots of galleries, art stores and unique shops for everyone to enjoy. 

Livability Score: 85%
* 93% graduation rate for high school
* Income average is 57% than average
* Median household income is $83,000
* Homes priced at an average of $300,000

#9 Ballantyne East

Currently home to various Fortune 500 companies, Ballantyne East is beginning to boom with business. The area is now home to a lot of high-end restaurants and amenities, and various desirable subdivisions are on the rise.

Livability Score: 85%
* 99% Graduation rate for High school
* Average income is 102% higher than the Charlotte average
* Median household sits at $107,000
* Homes priced at an average of $450,000

#10 Wessex Square

Known as the “South Charlotte”, this is the perfect place for those who are looking for something that is well-developed and has some old-world charm.

Lots of large properties for growing families, active kids and pets.

Livability Score: 85%
* 99% Graduation rate for High school
* Income rate is 67% higher than Charlotte average
* Median household income sits at $91,000 annually
* Home prices average $252,000
* Cost of living rate is 43% higher than the average in Charlotte

Are you thinking of buying a property in Charlotte, North Carolina?  Consider these top 10 communities that offer something for everyone! Start your journey today we’d love to help you! Give us a call at 704.997.3794. Send us a message here and connect with us!

If you’re thinking of waiting to buy, check out these 2 Reasons That You Shouldn’t Wait To Move Up and buy your dream house today!

Buy your home with Showcase Realty and if you are not happy with your new home, we will sell it for FREE! Details Here!

2 Reasons That You Shouldn’t Wait To Move Up To Your Dream Home Now!