Some sellers these days are taking a bit of a hit on their equity.  Savvy sellers who are also purchasing realize that they’ll recoup that lost equity when they make a smart purchase on the other side.  Many have, as they say, given away the farm because they HAVE to move; others are simply motivated by the low prices and the incredibly low interest rates on their purchase.

When it comes to selling a Charlotte home, I have to say that I am quite proud of some incredibly smart sellers of mine!  More and more, buyers believe that they can get the ‘best’ deal by going through the listing agent to make what is, oftentimes, the largest purchase they’ll ever make in their lives.  Evidently they have an unyielding trust in complete strangers--with regards to sellers and their agent, inspector and everyone involved in the transaction.   

Here’s the story:

Sellers recently received a ‘low ball’ Offer from a self-represented buyer.  The buyer suggested that the price was reduced X% to reflect the fact that they have no agent representation.  My sellers explained to them that not only do they already have a Contract with my firm stating that they will pay that X% but, that they refuse to assume the responsibility of this buyer having no representation.

“When we Close on this house, we don’t want to ever look back.  This is a liability that we’re not willing to assume, just so the buyer can ‘feel like’ they are getting a great deal.  Our home is already a GREAT DEAL!  Tell them to get their own representation and bring this Offer back to us then...we’ll seriously consider their Offer at that time.  I would never even THINK to buy a home without someone to represent my interests.”  

Hmm...I do believe that sellers have not only become savvy with regards to pricing but, they’re wise to buyers who are placing them in a strong position of liability by attempting to save a little cash without having their own real estate agent to represent their best interests.  I don’t think that buyers realize how the desire to save a little on a home purchase can put far more of THEIR money in jeopardy than the cost of having their own representation, which by-the-way, is covered by the sellers as per the listing agreement.  

Buyers, once again, stop shopping for the listing agents--save yourself time and money and select an agent to work on your behalf to assist you in what is likely the largest purchase you’ve ever made in your life.  Don’t risk tens of thousands of dollars just to save a few.  It’s simply not worth it.

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

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Buyers are Happier with Local Charlotte Real Estate Agents

According to a recent study, buyers prefer to work with Charlotte real estate agents who live in the same area in which they would like to buy a home. Buyers are happier when they work with local agents because they believe the agents are:

1. Familiar with the neighborhood: They know the schools, zoning laws and understand the lifestyle which the buyer is seeking. For example, they can tell you the best places to shop and give you referrals to the best mechanics and home contractors.

2. Involved in the surrounding community: Agents who are involved in community improvement projects are doing much more than just selling houses. They’re contributing to higher real estate values, better schools and less crime. Wouldn’t you prefer to work with an agent who not only has a vested interest but, demonstrates community commitment?

3. More attentive to buyers’ needs: When agents know they’re going to run into you at the grocery or hardware stores, they’re going to give you the very best service possible. Ensuring that buyers have no complaints and will give their new neighbors a glowing review about the their real estate services, definitely a motivating factor for superior customer service.

4.Knowledgeable about the Charlotte real estate market: Local agents know the history of houses; they know the streets on which properties sell faster and for more money; and they can steer you towards the better deals. If you’d like to work with a professional agent who lives in Charlotte and specializes in Charlotte real estate, give me a call or email me today.

Read more: http://www.icharlotterealestate.com/charlotte-real-estate-agents-buyers-are-happier-with-local-agents/#ixzz1Y44udD9B

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

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Charlotte Home Buyers:  3 First-Time Home Buyer Mistakes and How to Avoid Them

There are a few mistakes that many first-time home buyers make.  Here are three of the most common mistakes and how you can avoid them when purchasing your first Charlotte home.

Mistake #1:  Assuming that your credit is good. The information in your credit report determines whether you can get a loan — and how much interest you will have to pay – so it pays to be certain your credit reports are accurate. Check your credit reports for free from all three credit reporting companies — Equifax, Experian, and TransUnion — to make sure everything is correct.  If you find errors, contact both the credit reporting company and the information provider (the person, company or organization that provided information about you to a credit reporting company) involved in the errors and ask them to fix the credit report errors.  A qualified lender can also assist you with the repairs and should not charge you anything to do this.

Mistake #2:  Getting pre-qualified, not pre-approved, for a loan. It's far better to be pre-approved for a loan than to be pre-qualified.   Here’s why… With pre-qualification, your lender does a preliminary evaluation of your ability to pay for a home and gives an estimate of the mortgage amount they’ll give you.  The lender does not verify the information you provide. With a pre-approval, your lender verifies your income, assets, debts and credit history.  They provide you with written confirmation of the mortgage amount for which you’re approved. That written confirmation demonstrates to the seller that you are committed to buying; this can give you an advantage over other buyers.

Mistake #3:  Allowing emotions to influence your decisions. Buying a home is an investment.  It needs to be treated as any other investment.  You don't buy stocks because they are pretty and you shouldn't pick your Charlotte home that way either.  Make sure the home you buy fits your needs and allows you room to grow over the next few years. As with any sound investment, time is the key to a good return.

If you are a first-time home buyer, I would be happy to help you find (and get the best price for) your first Charlotte home.   Give me a call or email me today.

Originally posted at http://www.icharlotterealestate.com/charlotte-home-buyers-3-first-time-home-buyer-mistakes-and-how-to-avoid-them/

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

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Buyer Tips:  Locate the Neighborhood BEFORE You Look for a New Home

Charlotte has a multitude of areas, subareas, communities, subdivisions and neighborhoods and if you’re new to the area, you really do need a knowledgeable agent to guide you through the process of elimination as far as neighborhoods are concerned.

There are a few good sites that I recommend to my clients to learn more about the different areas/neighborhoods in Charlotte.  First, you’ll want to consult your agent and let him/her know, specifically, what you’re looking for.   Ask your agent if he/she is a Charlotte Certified Neighborhood Specialist. If so, he/she will be able to assist you in matching your current neighborhood to one very similar in your destination city.  If at all possible, consult one in your destination city–you’ll be glad you did!

1. Make a list of all of the amenities that are near the neighborhood you are considering as your destination neighborhood. Keep in mind what distance is acceptable to and from frequented locations (work, school, worship) and the routes which you’ll be taking.  Map them to see if the traffic pattern is going to be easy to alternate in the event of rush hour or accident traffic.

2.  Determine the best features of a couple of neighborhoods; this is especially helpful if you are deciding between a few different neighborhoods in a few different areas.  What lifestyle needs are important in your community and home selection?

Are there parks located nearby?   Where are they located?
Is the neighborhood scenic and visually appealing?
Are the people friendly?
Is the neighborhood clean?
Are there nice trees and foliage; are there evergreens for year-round privacy and beauty?
Are the lots large or small?
Are there sidewalks and are they easily accessible?
Is the neighborhood safe?
What are the market values of the homes in the area?
How many homes are for sale?
How long ago was the community developed?
Are residents making improvements and updating interiors to help maintain property values?
What are the age demographics in the area?
Are there families with small children in the area or is it an ‘empty nest’ community or a neighborhood of young professionals with or without children?
What is the proximity to schools?
Does the neighborhood have community events or an active homeowner’s association?
Are there any new nearby industrial or retail building planned for the future?  Any power plants?  Highways?

3.  Take a stroll around the neighborhood. The best way to determine the cleanliness and friendliness of the neighborhood is to walk around in it and meet its residents.

4.  Visit the neighborhood at different times of the day and different days of the week. Are there people out and about in the neighborhood, walking, riding bikes, socializing?

A lot of these items cannot be adressed by your real estate agent because of Fair Housing but, as a Buyer, you can and should do your homework–taking the time to investigate will save you headache and hardship down the road.  My clients are encouraged to visit the neighborhood and meet some of the neighbors. Discuss their likes and dislikes of their own neighborhood with the neighbors.  Find the answers to some of your questions above.

Here are a few sites that I recommend to help you answer the questions above are:

 
(Local Demographics By Zip Code)

Charlotte Chamber of Commerce

Congratulations!  You are now on the road to being able to narrow your list down to the neighborhood that you know you’ll enjoy living in for years to come!

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

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How to Avoid Costly Mistakes Made by Many First-time Charlotte Home Buyers

Buying your first Charlotte home is exciting, but it can also be expensive, especially if you’re unaware of the mistakes frequently made by many first-time home buyers.  Here are a few common mistakes which many first-time home buyers make and how to avoid them:

Driving the home buying road alone:  Buying a Charlotte home involves a lot of small (and big) details, many of which even an experienced buyer is unaware.  Additionally, buying a home is one of the most expensive purchases you’ll most likely ever make.  What does this mean?  You NEED a professional on your side.

Hiring your relative:   Although your cousin (or cousin’s best friend) may be a real estate agent, it doesn’t mean that they are the right agent for you.  Do your homework.  Interview at least three buyer’s agents to find the perfect agent who meets all of your criteria.  If your cousin meets all your criteria, then hire him or her but, only after you’ve done ALL of your homework.

Working with the listing/seller’s agent:  One of the most costly mistakes that a home buyer can make when buying a Charlotte home is working directly with the agent who is selling the home that you wish to buy.  They are not looking out for your best interests no matter how they spin it.  They are looking out for the best interests of their seller; they have an established relationship with that seller--they could even be their cousin.  Instead, hire your own buyer’s agent.

Assuming your lender is giving you the best deal:  Lenders are not required to give you the very best terms.  It’s your responsibility to shop for a mortgage the same way you shop for anything you buy.  Consider this:  You’re not just buying a home; you’re buying a very expensive financial product -- a mortgage loan.  Getting the best mortgage terms can save you thousands of dollars.  Insist on the best mortgage terms, or find a new lender who’s willing to give them to you.  Your real estate agent can recommend the best lenders to suit your mortgage needs.

Making an unappealing offer:  Yes, this is most definitely a buyer’s market, but that doesn’t mean sellers automatically accept any offer that comes their way.  Make your offer impossible to resist by offering the highest price you can, making the largest down payment possible, getting pre-approved for a mortgage and attaching a copy of the pre-approval letter to your offer.

Forgetting about resale potential:  Statistics show that the average first-time home buyer only stays in a home for four years.  That means you need to consider the home’s resale potential now, before buying it.  You may love the hustle and bustle of life on a busy street, but the majority of buyers do not.  You may only need 1 bathroom, but the average buyer wants 2 or more bathrooms.

If you have any questions about buying your first Charlotte home, or avoiding the mistakes many first-time homebuyers make, give us a call or email us today!

Charlotte North Carolina Real Estate - Charlotte NC Relocation Information

Debe Maxwell, CRS, Realtor®/Broker
Savvy + Company Real Estate
1920 E. 7th Street
Charlotte, NC  28204
Mobile:  (704) 491-3310
Fax:       (704) 353-7014
Email: debe@debemaxwell.com

More information on Charlotte than you'll ever need!

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

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5 Reasons Charlotte Home Sellers May Reject Your Offer

Rejection is a difficult thing to face in life, whether it’s from a potential client, a potential boss or a potential home seller.  As a Charlotte home buyer, your stress level may be reduced if you’re aware of some of the reasons a seller may flat-out reject your Offer to purchase their real estate.   

Sometimes, even if you and your buyer’s agent do everything right, the seller may still reject your Offer.   Bear in mind that this often has nothing to do with you.

With that being said, here are 5 common reasons sellers reject Offers on their homes:

1. The Offer wasn’t enough for them to pay off their mortgage.  For most sellers, the bottom line is paying off their mortgage.  If your Offer isn't enough to cover the mortgage, they cannot accept it unless they and their bank agree to a short sale.  Many sellers have not quite gotten to the point of accepting the possibility of short selling their property.
   
   
   
   
   
   
   
2. The sellers  may have just been testing the waters to see what they can get for their home.  (This is more common in a sellers market than a buyers market, obviously!)
   
   
   
   
   
   
   
3. Their plans may have changed.  People put their homes on the market because they need to move, they want to upgrade their home, or they can no longer afford their Charlotte home.  If the circumstances change, they may not need to sell their home after all.  Generally they’re up front about this reason though.
   
   
   
   
   
   
   
   
4. Their deal on the other end may have fallen through.  Perhaps the seller was in the process of buying another house contingent on the sale of their property.  If something fell through with that deal, they may very well NOT be able to sell their Charlotte home to you.
   
   
   
   
   
   
   
   
   
5. You may be asking too much of them.  The sellers may not have the time or money to make any repairs which they think are insignificant.  Perhaps you want to Close the deal too soon or would like to move into the home before Closing and that just won’t work for them.  Again, generally the sellers will let you know that up front.
   
   
   
   
   
   

When a seller rejects your Offer, don’t let it get you down.  There may even be more than one reason for their refusal.   Help your real estate agent develop a solid, more appealing counteroffer for the sellers, or move on to a new opportunity.  There is a surplus of homes on the market.  You may be pleasantly surprised to find a home that fits your lifestyle even better than this one.

When you’re ready to buy a home, I can help you find a great home and negotiate to a successful “Yes, we’ll accept your Offer!” Call me today or email me and let's get started.

Search Charlotte Homes for Sale

 

      

  Charlotte NC Homes for Sale

 (THE best Charlotte home search available - no kidding!)

Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310

     

  

 

    

      

       

 

         

   

Disclosure of material contained within.