15720 Brixham Hill Ave Ste 300 Charlotte, NC 28277 | Phone: 704-SELL-2-US

Why use a Third-Party Property Manager?



Why use a Third-Party Property Manager?

When buying turnkey properties, one of the so-called advantages providers promote is in-house property management. While this may look like a benefit, consider these thoughts.

Is property management their primary business? Effective property management is a full-time, all hands on deck type of business. Often, providers have a separate division to handle property management, but it still falls under their broader umbrella. Are they able to provide the best service at the best cost? Without a full-time maintenance staff, you may be paying too much for repairs and routine maintenance calls. Who is their competition, and how do they compare on costs for monthly management, re-leasing fees, marketing fees and repair charges?

Property management is not a high-paying endeavor unless it’s done in quantity or with higher than average fees. Look for the “nickel and dime” or junk fees that may be making it worth their time. It may be the difference between a profitable property and an annual loss.

If they are strong on their property management, are they still able to find and offer the best deals for their area? We rarely see a single company that is able to combine the service of offering the best deals with the best property management.

A third party can be a valuable tool for cost savings. Because property management is their primary focus, they will usually have lower fees and more cost-effective resources available. They can be your eyes and ears to verify all information and catch items that may have been overlooked or unconsidered. They can also be a great resource for evaluating future purchases. Using an independent property manager creates a better system of checks and balances to insure your best interests are being served.

The provider is familiar with the property. What’s the harm in that? Well, it’s just that: They are familiar with the property. Items may be missed in inspection and overlooked when vacancies occur or repairs are needed. Sometimes familiarity breeds complacency, and in considering your substantial investment, it is best to have all the details reviewed with the utmost care.

As a property provider, we find it valuable to partner with outside management to insure we are providing the best properties and maintaining the highest quality of those properties. Knowing there will be a second and third set of eyes on the products we offer allows us to feel confident in knowing our buyers will be well taken care of.

As an investor, we always choose to have an outside management company evaluate and manage our investments. They have not only saved us from an unwise purchase, but allow us to buy outside our home area with confidence. We’ll save the “one stop shop” mentality for shopping at Walmart, not for investments.

Would you like to learn more?

Ross Pittman Asset Group, LLC is located in Charlotte, NC and maintains a growing rental portfolio. We are always looking for ways to improve and love to share information with other investors.

If you would like to become a Funding Partner, have additional questions or would like to review our Prospectus, please visit our Funding Partners page at www.rosspittman.com




Being a Responsible Private Mortgage Lender



Private mortgage lending is an excellent way to improve returns on your savings and retirement funds. Bank savings and certificate of deposit rates are simply not worth the effort and stock market volatility makes it impossible to consistently gauge your returns. Also, consider that there is no tangible asset attached to the investment and losses are a real possibility. Real estate, as an asset, provides protection, is in most cases appreciating and can provide protection other methods of increasing your income and wealth simply cannot.

While a valuable strategy to add to your portfolio, there are risks and much to consider when becoming a private mortgage lender. Here is valuable information that will help you decide if this strategy is right for you and how to get started.

Private Mortgage Agreements

All private loans should be well documented. Each party’s expectations should be clearly defined, in writing. The terms should be clear and agreed upon so that there are no misconceptions. Each party should have the documents reviewed by their own independent council prior to commencement.

Items to be clear about and review:

  • Terms.
  • Security- review of property used as collateral.
  • Payment dates, especially when first payment is due.
  • Where payments are made and acceptable payment type.
  • Pre-payment penalties.
  • Late payments and fees.
  • Missed payments.
  • Definition of default.
  • Repercussions for default.

Loan Security

Your interest as a lender should always be protected. As a private mortgage lender, you have the security of real property. You have the ability to recoup your loan proceeds by taking back the property, possibly through foreclosure, unless prior arrangements for default have been made.

It is necessary to research the difference between lending to home owners who will occupy the home as a primary residence and investors. Owners who occupy the property have far more rights and requirements on the lender if the need arises to take back the property. Additional notices and legal regulations dealing with owner occupied loans make lending to investors much more attractive when realizing your goal of earning income from your lending.

 Things to Consider When Private Lending

Tax impact on your overall income

Legal review of all documentation and agreements

Your financial security if the loan is not repaid on time

Use of income; cash flow, retirement funds or tax planning

More Information

If you would like to become a Private Mortgage Lender, have additional questions or would like to review our Prospectus, please visit our Funding Partners page at www.rosspittman.com




Web Resources Can Focus Efforts to Buy a House



 


 

 

If you are looking to buy a house in the greater Charlotte, NC area and haven’t yet taken advantage of the power of the Internet, wow! — are you missing out! A host of new technologies and online resources have simplified finding and analyzing properties. To help zero in on your ideal house in the greater Charlotte, NC area this fall, here are a few of my favorite online resources:

Google Maps can save hours of time. Just go to Google and click on the “Maps” option at the top. Key in the full address of the property you’d like to look at, and, voila! You’re instantly looking at it in a choice of satellite view or from street level. For a quick glance a property’s “curb appeal,” you can’t beat it!

Long before you buy a house in Charlotte, you’ll want to know whether it’s a bargain or overpriced. The quickest way to get a rough estimate is at Zillow. Zillow.com provides a rough estimate (okay – very rough!) of the current valuation for most properties. Although these “zestimates” are approximate, you can also see what other properties in the greater Charlotte, NC area have sold for.

PropertyShark.com is a great place to ferret out more detailed information about a property. On this site you can find out information such as the owner’s name and address, assessed taxes, and the recorded purchase price. Also find data about the surrounding Charlotte neighborhood including demographics, recent sales data, and even the heights of surrounding properties.

The Trulia website can help shorten the research needed before you buy a house. Here you pose questions about a property to be answered by local experts. Ask about prices, closing times and real estate commissions. You can also find detailed information about Charlotte neighborhoods like commute times, crime stats, and local school ratings.

Online resources like these can reduce a lot of legwork (and gasoline consumption). Of course, nothing can replace the expert advice of a local Realtor® and viewing a selection of properties in person — but using these resources helps shorten the process. If you’re looking to buy a house in the greater Charlotte, NC area this fall, we are here to help!

Ross Pittman Asset Group

 

You can contact us with any of this info:

Ross Pittman Asset Group

15720 Brixham Hill Ave

Ste 300

Charlotte, NC 28277

Phone:    704-SELL-2-US

                704-735-5287

 




Bank Owned Home Rewards in Charlotte



Bank Owned Home Rewards in Charlotte North Carolina

A Charlotte Bank-Owned Home Can Be a Serious Contender

Buying an Charlotte NC Bank-Owned Home Takes Preparation, Patience

 

Charlotte Bank-Owned Home Opportunities Balance Reward, Risk

 

If you’re looking for a superior deal on a new home, you may find that a Charlotte bank-owned home is a serious contender. Today’s real estate market includes a variety of foreclosed homes, some of which can be had at prices well below baseline levels.

Adding to the activity in that sector is the virtual disappearance of any degree of the stigma formerly attached to the bank-owned home market. By May of 2012, Realtor Magazine was already reporting how the rise in distressed inventories had brought about an increased appetite for the sector: “Nearly 65% of buyers say they’re likely to buy a foreclosure today compared to 25% who said that in October 2009.” And 92% of those surveyed were interested in a bank-owned home as their primary residence, rather than as an investment vehicle.

If you think a Charlotte bank-owned home could be a serious contender for your attention, you should be aware of how to best prepare for the opportunities to be had among them.

 Get Pre-Qualified

Pre-qualification not only speeds up the purchase of a Charlotte NC bank-owned home, it also produces a concrete range for your home-buying budget. Some banks charge a fee for the credit-checking procedure, while others simply build that into the bottom line.

Beware Potential Property Issues

The biggest issue facing the buyer of a foreclosed home is the potential for damage to the property. If it’s been vacant for some time, issues tied to improper weatherization or pest infestation can have resulted. A bank-owned home is typically sold as-is — so ordering a thorough, professional home inspection is an absolute must. 

Be Patient!

Buying a bank-owned home in Charlotte can proceed on a different timetable than does a regular home buy, so be prepared to be patient. It’s also particularly helpful to have a buyer’s agent on your team to help answer questions as they arise.

If you are in the market for a new home this fall — whether it be a bank-owned home or not — I’m here to advise my clients from beginning to end. Getting started is just a phone call away!

You can contact us with any of this info:

Ross Pittman Asset Group

15720 Brixham Hill Ave

Ste 300

Charlotte, NC 28277

Phone:    704-SELL-2-US

                704-735-5287




How to buy a new home without bank qualifying or a large down payment



 


 

Stop wasting your money on rent... or living in a house which doesn’t meet your needs. Discover how to move into a better home now!

 

Some people are tenants by choice. But most people would prefer to enjoy all the benefits of owning a home if at all possible. It can be the single most important investment you ever make. A lot of people's personal wealth is made up mostly from equity they've built through years of responsible home ownership.

We believe buying a home should be at the top of your goal list. And, we have a number of homes for sale right now with flexible owner financing. Our unique approach to selling houses can help you achieve the reward of owning your own home faster and easier than going the traditional route. Here are the benefits you can be enjoying by working with us:

You can move fast

When you buy a home from us you can move in quickly and easily. Most of our properties are available immediately. Get into one of our homes in just a few days with our flexible owner terms or set a date further out.

Compare that to buying an owner occupied home through an agent. How frustrating! First you have to qualify for a loan which could take 3 to 8 weeks. We require no bank financing. Then you have to coordinate your move subject to the schedule of the seller. Look out if the seller wants everything contingent on them getting into their new home. Their deal can fall through at the last minute stopping you or delaying you from moving in. That can become a nightmare if you've already lined up a moving van, or given notice to your landlord, or sold your previous home.

Avoid bank hassles

Banks and mortgage lenders are picky. They prefer to do only the easiest and safest loans. Trying to please them and jumping through all their hoops can drive you nuts. It is especially difficult when your credit is less than perfect or your debts seem too high to the lender. Or maybe you're self-employed or new to the area.

Our owner financing programs make buying easy. You enjoy the peace of mind of having a solid move-in date. There are no last minute lender requirements to stop us from closing or moving you in.  Depending on what you want and need, we'll make you a loan to buy or rent the home to you until closing. Start enjoying your new home even if you are still raising more money to put down.

If we decide the best option is to rent to you until we close, you'll have some breathing room and no pressure. We can then work with you to get a favorable bank loan or help you build up the down payment required to close with easy owner financing.

Own your own home...now!

Don’t be forced to throw your money away on rent just because you need time to get a bank loan. Each month you get nothing but receipts...with no equity build up... no tax benefits... no appreciation... and no pride of home ownership.

Are you tired of maintaining and fixing up a house you don't own? Do you want more privacy in a bigger or better house?

Even if you don't have perfect credit... or a large down payment... or if you're self-employed, there are loans available for you. Whatever your current situation, there's probably a home loan that is just right for you. And we'll "walk across hot coals" to get you in one of our nice houses, even if it means financing you ourselves.

Work directly with a creative and flexible seller

Start enjoying all the benefits of owning your own home.  Have lenders and brokers told you that you can't qualify?

We’re a local real estate investment company specializing in helping families buy a home without the normal hassles of going through the bank qualifying process. We have nice homes in all sizes, locations and prices. As the owner, we can offer several unique programs that can help you buy a home, even if you don't have the proper financial picture or credit history to please a bank.

Our lending criteria are vastly different from a bank’s. We'll take into account the circumstances that may have damaged your credit in the past. We'll fairly evaluate your present employment situation and currents debts. In most cases, we can find a method of financing you, getting you into one of our houses.

Buy with no money

If you're in a position to qualify for a new mortgage, we may be able to help finance your down payment and closing costs. If you can qualify for 100% financing now, we may be willing pay your closing costs. You could get in with no money down.

Some of our buyers can qualify for 95% to 97% bank financing. In those cases, we might recommend one of several "home buying grant programs" available without qualifying. These grant programs can "gift" the 3%-5% down payment you need to close.

Buy with a small down payment

There are a lot of creative things we can do even if your credit is less than perfect... or you lack local employment history...or your income is hard to prove... or you have another house for sale... or you're stuck in a lease... or you've had a bankruptcy or foreclosure... or you have outstanding collections.

And when you don't have enough money down to close with seller financing, we have several other programs to give you immediate ownership benefits. Our "lease purchase" or "rent to own" program can get you into the home of your choice with a small down payment.

This program offers a creative way of helping you build equity and enjoy market appreciation. We'll then work with you to get you closed as quickly as possible with the best mortgage and terms. In the meantime, you can be enjoying your new home, sprucing it up how you want. Since you're in the process of buying the home, we have few concerns about smoking or pets.

Then show off your new home and experience a new sense of pride. You'll have the time needed to qualify for traditional financing, establish your income, clean up your credit, build up your down payment or pay off debts.

No reason to wait!

Many tenants are willing to live somewhere that does not reflect their preferred lifestyle because it's "temporary." Don’t put up with noisy, unkempt, and sometimes frightening neighbors. Or inefficient heating systems or poor maintenance. Or undesirable schools. Or rising crime rates. Or what about the landlord who shows up with little or no notice... even entering your home without your knowledge?

When you're in a home of your own, you have more freedom and peace of mind. You deserve to live better. Let us help you improve your lifestyle now!

Stop living in a house that is too big or too small. Stop putting up with uncooperative landlords. Stop getting by in a house that’s too hard to maintain.  And stop spending your hard-earned money on rent when all you have at the end of the year is a pile of receipts.

Quickly qualify for the best mortgage

The credit reporting services most lenders rely on can be unfair. Rarely does your credit report reflect your true ability to borrow money and keep your agreements. The Fair Credit Reporting Act gives you certain rights and the ability to reestablish damaged credit. We work with several top-notch companies who specialize in helping you raise your credit rating.

If your credit history needs improving, it may take 3 to 12 months to get you qualified for a very favorable mortgage through a bank or mortgage lender. The good news is that we may be able to get you into a nice home now while one of these companies can be handling your case. Our owner financing programs are designed to give you the time you need.

Another way we can help is to refer you to a professional mortgage broker who’ll examine your current income, credit and debts. Then they can tell you what’s available now or in the future. They’ll give you suggestions and a plan putting you in the best position to get approved. No longer will getting a new loan be a mystery. Having time and a plan to work on your financial situation can save you tens of thousands of dollars in the long run.

Is owning within your grasp?

It's the American dream. Some people will never achieve it. But most people do not have the opportunity you have right now. Let us help you buy a nice home sooner than you expect. Get on our Buyer's List today! Let's see if we have an attractive home now that fits your budget and lifestyle. A home you can move into quickly and easily, with or without bank qualifying… with or without a down payment.

If one of the homes available now doesn't get you excited, then we'll keep looking, notifying you of our new properties as they become available.

There are several easy ways to find out if we have a home for you:

1) Go to www.rosspittman.com,

2) Fill out the form from www.rosspittman.com/contact.php ,

3) Call me at our office for personal assistance at 704-735-5287 and tell us about yourself and what you're looking for. Let us show you how to overcome any home buying challenges you're facing. There's no cost or obligation. We don't charge a fee to get you into one of our homes or to help you explore your options. Joining our Buyer's List is free.

If you’re spending your money on rent now, or if you’d like to buy a better home, let us help you. We select several of our properties each month to sell for cash, with a new loan or with flexible owner financing.

You may be able to get into a new home without bank qualifying, without a substantial down payment and (in some cases) with no money down.

Sincerely,

Jared Dullum, Managing Partner

Ross Pittman Asset Group, LLC

www.rosspittman.com

704-735-5287




How to Avoid or Stop Foreclosure



“How to Avoid or Stop Foreclosure and Get the Cash You Need Fast...” in Charlotte North Carolina


Dear Homeowner,

 

If you are headed toward foreclosure, or are already in foreclosure, you need to know the rights and options available to you now. Only then can you save your house, save your credit, or save your equity before it’s gone forever.

 

Once you get behind on your mortgage, the clock is ticking. The sooner you decide on the course of action, the more cash you and your family can pull out of your house, and the better chance you’ll have of stopping the bank from stealing your home.

 

Can you raise enough cash to cure the

default and stay in your home?

 

There are several creative ways to do this. We can help you identify the methods to keep your house if you feel you can still afford to stay in your house. On the other hand, if you decide to sell your house, we might be able to buy it and give you cash for your equity in as little as 7 days.

 

Can you get a new mortgage?

 

You’ll need to borrow enough to payoff what’s owed to your current lender PLUS the back payments PLUS late fees and attorney fees Plus all the closing costs to get a new loan.

 

If you’re able to realistically commit to a larger mortgage obligation, we can help you explore this option.

 

Should you sell your house now?

 

Maybe we can buy your house quickly and easily. There’s no need to go through the uncertainty of listing your house with an agent or trying to sell it yourself. There’s no need to spend money fixing up your house to please a picky buyer.

 

*  We can buy your house “as is”

*  We can close on the date of your choice

*  We can handle all the paperwork

*  We can give you cash for your equity

 

We’re not real estate agents and we’re not associated with any real estate agency. We don’t charge a fee or commission so there’s no cost to you. We can close in 7 to 10 days and by acting now, you can get the most money out of your house.

 

The biggest reason for you to allow us help cure your loan, refinance your debt or sell your house is to keep a foreclosure off your record, and that’s important. By saving your credit, you won’t have to experience the frustration of trying to get a future mortgage, a nice house to rent or a fair insurance quote when you have severely damaged credit.

 

Know that after your bank forecloses on your home, you’ll always have that hanging over your head, coloring the opinions of what others think of you. All mortgage applications currently ask if you’ve EVER had a foreclosure. You’ll have to say “yes” for the rest of your life… unless you avoid it right now by discovering your options and taking positive action.

 

 

Do you feel a foreclosure can’t be stopped, and that your situation is beyond hope?

 

Then let us help you save as much of your equity as possible. Even if you have little or no equity, we know several ways to create it by renegotiating with your lender, generating enough cash to give you something, rather than nothing.

 

In fact, if you have the ability to pay more then you’re obligated to pay each month now (perhaps because the financial setback you experienced was temporary) it’s possible for us to negotiate a plan with your lender to keep you in your home and get you back on track.

 

But know this… from our experience… only 1 out of 9 families we consult with who are facing foreclosure are able to save their home by agreeing to pay MORE each month. So it may be in your best interest to explore your options for selling quickly at no expense to you.

 

When you decide to sell, you’ll need a new home. Maybe you can stay with friends or family, or maybe find a new place of your own.

 

Damaged credit will limit where you can move. Landlords and lenders will look closely at your ability to keep up with your financial obligations. But once we’re working with you, and we understand your situation, we may be able to get you into one of OUR homes with flexible seller financing. We may also be able to trade properties

 

Are you thinking of filing bankruptcy?

 

Some homeowners consider filing bankruptcy to stop a foreclosure. But it won’t.  It only delays it while the amount owed grows to an unrecoverable amount. Know that the bank that lent you the money on your house will get their money, or your house. They’re a secured creditor. Bankruptcy will never wipe out your mortgage debt. You cannot avoid foreclosure by filing bankruptcy.

 

Should you do nothing and wait?

 

Some borrowers even think they’ll benefit from “free rent” until the bank hires the local sheriff to throw them out. But wouldn’t you rather have debt relief, emotional relief and some seed money to start fresh in a new home? And remember… you’ll want to keep a foreclosure off your credit report if at all possible.

 

Equity in real estate takes years to build but it can be wiped out in a single day, once your house is sold at public auction. Let us help you examine all the options you have available NOW. Then you’ll be able to make decision based on real facts, not wishful thinking.

  

I invite you to call our office at 704-735-5287 and talk to us. We will gather the details on your situation. Then we can offer you several solutions there’s no cost or obligation and we’ll hold everything in strict confidence. Once we have your details, we may be able to:

 

*  Put up the money to cure your default, or...

 

*  Help get you a new loan, or...

*  Renegotiate your obligation with the lender, or...

*  Make you an acceptable offer to buy your house “as is” with cash to you at closing.

 

We don’t recommend trying to sell your house though a real estate agent until you learn more about the major disadvantages of taking such actions. We don’t recommend you try to sell your house on your own unless your loan is current and you have time to test the market. Bankruptcy should always be used as a last resort because (in our opinion) it rarely produces the result home owners expect or hope for.

 

We do recommend that you allow us to explore ways to raise cash needed to cure your default or stop a foreclosure. We’ll either put up the money ourselves or help you locate a reliable source of funds. If refinancing your house makes sense, we’ll help investigate that.

 

Let us offer you a fresh start and

a brighter future...

 

Put an end to the stress and emotional hardship you may be experiencing right now. Sure, you may find an answer, on your own, without us being involved. But you owe it to yourself and perhaps your family to get any help you could use. We want to help. It’s what we do everyday.

 

Will you take the next step?

 

If you want more information without risk, we’ll need to get some information about your situation and your property. You can call us direct at 704-735-5287  for a FREE, friendly, no obligation consultation. We’ll be happy to speak with you. Or you can complete the online Request Form at www.rosspittman.com

 

After evaluating your situation, we’ll gladly call you back and share our ideas with you. Then, if you decide it’s best to sell your house, we’ll come out and make you a fair purchase offer that’ll put cash in your pocket at closing.

 

If you prefer to keep your house, we’ll explore how to raise the cash needed to avoid losing it.

 

So please call us. We’ll explain everything in clear, easy to understand terms. You’ll still have all your other options available if it’s determined that we’re not your best solution.

 

Sincerely,

 

 

Jared Dullum, Managing Partner

Ross Pittman Asset Group, LLC

 

P.S.  If you are behind on your house payments and don’t have an immediate plan to cure your default, it is only a matter of them that your name will appear on public record as “someone in distress.” Then you’ll have to deal with a barrage of real estate agents, mortgage brokers and real estate investors hoping to capitalize on your misfortune. Perhaps you’ve already experienced that! I hope not. It can be very embarrassing and upsetting. Call now!




How to Sell Your House in Charlotte Nc



 

How to Sell Your House in Charlotte Nc ‘as is’ at a Fair Price on the Date of Your Choice


 

If you want to sell your house in the fastest, easiest, and most convenient manner, read this important message.

You may discover the perfect solution... because we buy houses throughout the Charlotte North Carolina Region!

 

 

Dear neighbor,

Selling a house is usually an expensive and complicated process.  That’s why real estate agents make thousands (sometimes tens of thousands) of dollars on a single sale. But, when I buy your house, there are no commissions to pay.

And you certainly won’t have to tolerate dozens of total and sometimes frightening strangers tramping through your home and poking through your drawers and closets.

So we can act fast! I’m as serious about buying your house as you are about selling it. 

That’s the biggest difference between me and listing with a real estate agent.  An agent will list your house... hoping it sells within 3 to 6 months.  I want to buy your house... now! That’s a huge difference when you’re the one with the house for sale.

An agent lists five, ten, even dozens of houses at a time, and it’s rare if an agent can give all their properties their close personal attention.  It’s no wonder that a listed home can sometimes take a long time to sell while you, the owner, are stuck maintaining the property and making house payments month after month. 

What’s your alternative?  Of course you could just sell it yourself -- without an agent.  After all, who knows more about the house than you do?

But consider this.  How many houses have you bought and sold in your life?  Two, maybe three?  You haven’t had to solve even a fraction of the typical problems that can pop up -- right before closing.

Remember, buying a house is a big decision for most people and it’s easy for them to get “spooked.”  At the first sign of a complication or small problem (like a lien, necessary repair, or one of the other typical closing glitches), they can run like a scared jackrabbit.

Then you have to start all over at square one -- it’s a frustrating experience.

Plus, when you try to sell it yourself, you still have to put up with dozens of strangers trampling through your home -- only now you’ll have to be there yourself.  For some owners, that’s a scary thought.

And what if you need to move fast?  You could dump the price and hope someone will steal your house, but can you afford to do that?  Or, you could go ahead, move out, and leave it with the agent.  And every month, while making two huge mortgage payments (most people find that tough to swallow), you hope and pray that someone will buy your old house next month -- and the next -- and the next.  Of course, that’s assuming you can even qualify for a new mortgage with the old one still on your back.

And when it’s sitting vacant, what’s going to stop someone from climbing through the kitchen window and tearing up your property?

Frankly, that’s more worry and aggravation than most people need in a lifetime. 

Pretty grim, huh? Which way do you turn?  To an agent with dozens of other listings to handle? Selling on your own and sweating out financing details, lost deals, last minute closing “surprises”?  Moving out and hoping you don’t get some midnight call with “bad news” about your house?

Here’s a better solution -- a way out...

When we buy your house “as is” for a fair price on your date of choice, we might help you AVOID...

 

*    Putting your house on the market entirely...

*    Coming out of pocket if you have little or no equity...

*    Relying on an agent to perform or keep their promises...

*    Doing fix-up work to please a picky buyer...

*    Becoming an unwanted landlord...

*    Counting on a bank to approve your buyer’s loan...

*    Having your buyer back out at the last minute...

*    Paying prepayment penalties...

*    Having the cash you need NOW tied up in your house...

*    Struggling with the uncertainty of when it will sell...

*    Making house payments you can no longer afford...

*    Making payments on a vacant house...

*    Foreclosure or bankruptcy...

If your property qualifies and I come out to see it, I will provide you with a firm written offer.  I’ll explain everything to you in plain, everyday English.  I’ll be 100% direct, clear and honest with you... from start to finish.

In fact, I can usually “pre-qualify” your home right over the phone, in just a few minutes.  That can save us both time .

That’s because (unlike most potential buyers) I don’t have to sell another house first.  And if you want, we can close in just a few days. I’ll handle all of the paperwork and make all the arrangements ... and you can get on with your life!

I don’t yet know your particular reasons for selling, but I do know how to get your house closed as quickly, and professionally as possible.

Imagine, by this time next week your house could be sold.

Can I really buy your house this quickly and easily? Maybe, maybe not.  A lot of it depends on you.  If you want to get above market price for your house, don’t bother calling me.  I’m a professional and I do expect to make a profit.  But I’m not out to steal your house either.  My profit will come from my future buyer or tenant.

Does your property meet my requirements?  Call my office and let’s find out. I buy all types of real estate and I can quickly determine if your house fits my investment needs. If I don’t end up buying your house, I’ll be happy to share ideas or advice on what you might try next. You’ll still have all your other options available. You have nothing to lose by calling us first.

The staff at Ross Pittman Asset Group were the best I have ever worked with! Laurie was very personable and started me on the road to building a cash flowing portfolio. I will buy as many properties from Ross Pittman Asset Group as I can get my hands on!!

 - Steve

 

I sold my house with Ross Pittman's help in just three days! I couldn't be happier! Jared really knows this market and gave me multiple offers on my property. It wasn't a matter of selling my house to Ross Pittman Asset Group, it was which way was best for me!!  -  Chelsea

 

“As a seller I am very pleased that Jared Dullum and his Ross-Pittman Asset Group were not only able to get me full price on my house, but we also closed in less than thirty days.   Actions do speak louder than words.”

 

So, if you want to learn more or if you have any questions, call me at my office right away at 704-735-5287. We’ll gather a few facts, do a little research and plan what we might do with the house after we buy it. That helps us ball park what we can pay until I see the house.

All information you provide will be held confidential. I’ll then call you back and share what I’ve discovered. Fair enough? Call now. If it’s after hours or you get my voice mail, please leave a message and we’ll return the call.

You can also visit us at http://www.rosspittman.com/ to submit details about your house for sale 24 hours a day. Otherwise, call me now at 704-735-5287.

Sincerely,

 

 

Ross Pittman Asset Group

You can contact us with any of this info:

Ross Pittman Asset Group

15720 Brixham Hill Ave

Ste 300

Charlotte, NC 28277

Phone:    704-SELL-2-US

                704-735-5287

 

 

 




Responsibilities to Yourself as a Landlord



Whether you own rental property or you plan on buying your first rental, you need to be clear on what it means to be a landlord.

Your first responsibility is to accurately evaluate a prospective property.  Be sure that your property is suitable to carry all costs and provide the required return.  What should you consider when determining if a property will be worth your investment?  If you are financing the property either with a traditional bank financing or a private source, your monthly mortgage payment will be used as a cost to evaluate your return and should be added to all other costs.  Your return will be based on the actual cash you contribute to the transaction, down payment and closing costs.

For the purpose of calculating returns, we will assume that the property in question is in good condition and a tenant is in place.  To calculate returns, you must accurately consider all costs including property taxes, property insurance, management fees which is usually a percentage of annual rents, estimated vacancy factor (8-10%), annual maintenance (8-10%), HOA dues if applicable, and mortgage payments if financed.  Start with your annual gross rent (monthly rent x 12), then subtract the total annual costs to arrive at your net operating income.  This is the cash flow you will be receiving annually.  Divide your net operating income by the total of cash invested.  This will give you your net cash on cash return.  If the return is what you are looking for, then proceed with your purchase.  If it is not, resist the urge to try to “make” a deal unless the seller is flexible on their sales price.  There is no room for error when calculating.

Assumptions:

                Home sales price of $49,900

                Vacancy rate of 8%

                Management fees of 8%

                Maintenance cost of 8%

                Monthly rent of $650.00

Annual rent:    $7,800.00 ($650.00 / month x 12 months)

Expenses:                        $  460.00  annual taxes

                                       $  360.00  annual insurance policy

                                       $  624.00  annual management fee ($52.00 / month x 12 months)

                                       $  624.00  annual vacancy ($52.00 / month x 12 months)

                                       $  624.00  annual maintenance and repairs ($52.00 / month x 12 months)

                                                ________

  Total annual expenses             $2,691.00

  $7,800.00 (Annual rent) less $2,692 (Annual expenses) = $5,108.00 (Annual cash flow)

  $5,108.00 (Annual cash flow) divided by $49,900.00 (Cash sales price) =10.24%

  10.24% is your annual cash of cash return.

Your second responsibility is to retain adequate reserves to address any issues that may arise.  You must be sure that a property is in good condition, and it is your responsibility to be sure any deficiencies or repairs are addressed immediately.  Beyond being responsible for repairs and maintenance, you want to insure your tenants are content and appreciate your responsiveness. This is one of the best ways to retain tenants long term, which ultimately creates more cash flow and helps eliminate losses in turnover.

Property condition makes a great impact on rental price.  Tenants will see the value and be willing to pay higher than market rents.  Simple things like paint color, counter tops, vanities, toilets and appliances can make a hugh impact. 

By providing a clean, warm property, you will draw excellent tenants. 

Your third responsibility is your lease.  After you have chosen a suitable property and ensured it is in excellent condition, it’s time to rent the unit.  The cornerstone of your experience with your tenants is the lease agreement.  This will outline, in writing, what is expected of your tenant and what you will provide during their tenancy.  Note:  Be sure to check with an attorney to see if items can be included in the lease.  I recommend using your state’s Realtor’s Association Lease with your personally added amendments.  Most courts are going to be familiar with the standard form, and if an eviction is necessary, you will find a magistrate much easier to deal with using forms they know.  Any requirements or forbidden activities should be outlined in detail and specific. 

Fourth is to be sure to address difficult or slow paying tenants swiftly.  Depending on the laws in your state, tenants usually have a grace period before a late fee is due.  Do not, for any reason waive this fee.  If rent is not paid by the earliest day that the eviction process can be started, proceed immediately.  You can always dismiss the case if they pay you and include reimbursement for your costs and time.

If you fail to enforce the rules set in place, you can be sure your tenant will continue to push the limit further and further.

By following these principles, you will help ensure your properties are profitable for years to come. 

As always, we wish you happy and profitable landlording. 

 




Local Luxury Home Sales Aided by Market Familiarity



Luxury home sales often trace a path that differs from the rest of the market. Just as high-end buyers can afford to take their time to find exactly the property they are looking for, local luxury homeowners tend to pick and choose when they will market their properties. That's pretty much what happened in the aftermath of the 2008 housing crisis: many luxury home owners in town decided to hold off and wait for the market to rebound before listing. Now, as the housing market continues to recover and home values continue to rise, the potential number of buyers interested in these homes is also on the upswing.
For those who have been postponing the sale of their own area luxury home, this fall is shaping up as a likely time to act. Before you list though, it can't hurt to revisit some basic truths in high-end real estate marketing. 
Selling a luxury home requires a different marketing psychology than does traditional real estate. It simply takes longer to find the buyers for these homes, so it is almost always necessary for their owners to practice extra patience throughout the sales process.
It is absolutely essential to work with a real estate professional with experience and connections in the luxury market. An experienced agent understands the ins and outs of selling a local luxury home. It's not unusual for them to have fostered a network of qualified potential buyers who may be interested in the property. 
Luxury home sales are driven by the desire to attain or maintain a specific lifestyle. It is often necessary to sell the lifestyle as effectively as the home itself. This means staging the home properly, highlighting specific “starring” details, and making sure that everything inside and out is immaculately maintained. It means a little more work for both home owner and agent, but the plus side is the size of the reward at day's end.
If you have a luxury home in town and suspect that now is the right time to sell, contact me for the kind of reliable guidance that brings success! 

 




Worthwhile Tips for Local First-Time Homebuyers



The price tag that goes with buying a home is hefty enough to give anyone pause. After the fact, anyone – perhaps especially local first-time homebuyers — can come away wondering if they have could have nailed down a better deal. Preventing any such nagging doubt is easy to do: it just takes a little forethought and preparation. Here are a few tips to bear in mind when buying a home.
After you have submitted an offer, be mentally prepared to respond in case a counteroffer follows. Along with the improvement in our area market, we’ve seen a rise in sellers’ confidence levels, so it’s best to be ready for some negotiating. Try not to let your emotions intrude — but always know the maximum amount that you are willing and able to spend. 
Major athletes have bargaining agents to go to bat for them. Your real estate agent is your bargaining agent whose very presence strengthens your position. Some of the legalities in real estate can seem ambiguous though they actually aren’t, so allowing a professional to do most of the talking is good practice. An inadvertent comment or slight change in the agreement between you and the seller could result in problems securing a mortgage from your lender. Real estate agents are trained to help you through the process of buying a home as smoothly as possible. Especially if you’re a local first-time homebuyer, use your agent to the fullest advantage.
Being armed with knowledge can save you thousands. The best way first-time homebuyers can see if an offer is competitive is by scouting the most recent prices paid for comparable properties. The second part of being prepared is to be sure that a proper appraisal is conducted. Smaller details are easy to brush off in the excitement of buying your first home — but having done all your homework beforehand is the way to make first-time homebuyers know they’ve struck a great bargain.
Whether you’re a seasoned seller or one of those first-time homebuyers in town, I’m here to help make sure you stay on top of your game. Call me!

 




Web Resources Can Focus Efforts to Buy a House



If you are looking to buy a house in the greater Charlotte, NC area and haven’t yet taken advantage of the power of the Internet, wow! — are you missing out! A host of new technologies and online resources have simplified finding and analyzing properties. To help zero in on your ideal house in the greater Charlotte, NC area this fall, here are a few of my favorite online resources:
Google Maps can save hours of time. Just go to Google and click on the “Maps” option at the top. Key in the full address of the property you’d like to look at, and, voila! You’re instantly looking at it in a choice of satellite view or from street level. For a quick glance a property’s “curb appeal,” you can’t beat it!
Long before you buy a house in Charlotte, you’ll want to know whether it’s a bargain or overpriced. The quickest way to get a rough estimate is at Zillow. Zillow.com provides a rough estimate (okay – very rough!) of the current valuation for most properties. Although these “zestimates” are approximate, you can also see what other properties in the greater Charlotte, NC area have sold for.
PropertyShark.com is a great place to ferret out more detailed information about a property. On this site you can find out information such as the owner’s name and address, assessed taxes, and the recorded purchase price. Also find data about the surrounding Charlotte neighborhood including demographics, recent sales data, and even the heights of surrounding properties. 
The Trulia website can help shorten the research needed before you buy a house. Here you pose questions about a property to be answered by local experts. Ask about prices, closing times and real estate commissions. You can also find detailed information about Charlotte neighborhoods like commute times, crime stats, and local school ratings.
Online resources like these can reduce a lot of legwork (and gasoline consumption). Of course, nothing can replace the expert advice of a local REALTOR® and viewing a selection of properties in person — but using these resources helps shorten the process. If you’re looking to buy a house in the greater Charlotte, NC area this fall, we are here to help!

 




Local Bank-Owned Home Opportunities Balance Reward, Risk



If you’re looking for a superior deal on a new home, you may find that a local bank-owned home is a serious contender. Today’s real estate market includes a variety of foreclosed homes, some of which can be had at prices well below baseline levels. 
Adding to the activity in that sector is the virtual disappearance of any degree of the stigma formerly attached to the bank-owned home market. By May of 2012, Realtor Magazine was already reporting how the rise in distressed inventories had brought about an increased appetite for the sector: “Nearly 65% of buyers say they’re likely to buy a foreclosure today compared to 25% who said that in October 2009.” And 92% of those surveyed were interested in a bank-owned home as their primary residence, rather than as an investment vehicle.
If you think a local bank-owned home could be a serious contender for your attention, you should be aware of how to best prepare for the opportunities to be had among them.
 Get Pre-Qualified 
Pre-qualification not only speeds up the purchase of a local bank-owned home, it also produces a concrete range for your home-buying budget. Some banks charge a fee for the credit-checking procedure, while others simply build that into the bottom line.
Beware Potential Property Issues
The biggest issue facing the buyer of a foreclosed home is the potential for damage to the property. If it’s been vacant for some time, issues tied to improper weatherization or pest infestation can have resulted. A bank-owned home is typically sold as-is — so ordering a thorough, professional home inspection is an absolute must.  
Be Patient!
Buying a bank-owned home in town can proceed on a different timetable than does a regular home buy, so be prepared to be patient. It’s also particularly helpful to have a buyer’s agent on your team to help answer questions as they arise. 
If you are in the market for a new home this fall — whether it be a bank-owned home or not — I’m here to advise my clients from beginning to end. Getting started is just a phone call away!

 




Secrets To Successful Showings the Second Time Around



Even though Charlotte,NC property prices continue to recover, the current market can still present challenges. No one understands this better than homeowners who are re-listing this year For some of them, surrounding seas of “For Sale” signs created a less-than-appealing neighborhood setting. Others drew buyers who weren’t able to secure financing in the uncertain mortgage environment. Whatever the reason, it can be disheartening for anyone who has to re-list their property.

Once you undertake a repeat attempt to sell your Charlotte,NC home, you want to be certain the job gets done right. A key part of that will be ensuring successful showings. It’s estimated that well-staged homes sell as much as 50% faster than those not “dressed for sale.”

Most buyers begin their search online, so take a look at its online marketing. A buyer who dismisses your property outright without a visit means one less chance to close a sale. Be sure you show multiple photos that show the property in the best possible light. If that's not the case, and professional photography might provide the solution.

Give the property another thorough cleaning. You cleaned your home for your first open house, but now that time has passed, your house certainly needs deep cleaning again. In particular focus on the two areas that get messiest fastest: bathrooms and kitchen ­ rooms buyers look at first.

Take a look at timing: specifically, the times you choose to show your home. Try holding an open house between 3-5pm. This will make your home one of the last that prospects view. If they are still looking at day's end, chances are they are serious about buying a Charlotte, NC property. This slot also helps avoid viewing conflicts with other homes.

Sure, it's disappointing any time a home doesn't sell immediately, but that needn't mean it won’t succeed the second time around. In most parts of the country, real estate has been trending upwards ­ and more buyers are entering the market. You're only looking for that one person who appreciates your Charlotte, NC property. Ready to get a fresh start? Then call me: let's get going!




Growth of Charlotte, NC Real Estate Prices Could Be More Believable



Real Estate Prices Growing at a More Sustainable Pace

 

The future of real estate prices in Charlotte, NC is always a matter of keen interest to area homeowners. So it’s important when the latest national numbers in the Case-Shiller Index show that the rate of rise in real estate prices has begun to slow.

Charlotte, NC  homeowners should be pleased!

“WHAT?” you may well be thinking. If the rise in national or Charlotte, NC real estate prices is slowing down, why in the world would that please homeowners? The answer is only a little bit convoluted.

The fact is, the recent remarkable leaps in real estate prices had some knowledgeable observers shaking their heads. The Business Insider even headlined, “These Home Price Gains are Not Normal, Sustainable, Or Believable.BI was reacting to the previous three straight months’ real estate price appreciation “above 10%.” They speculated that a large number of foreclosures now being recycled at more normal price levels had created an artificially high growth rate.

That’s why slowing down a little would mean a more normal market — and more reliable growth statistics. Other conditions make that story easy to accept:

While interest rates have risen slightly, at today’s rates, borrowing is still notably inexpensive. The increase in investor participation (they tend to pay in cash) also reflects the more conservative lending environment.

By the end of the financial crisis, construction in many parts of the country had fallen sharply, leading to a tight housing inventory. The shorter supply caused additional pressure on real estate prices.

Another factor: rising rents. Whenever the economy performs well, rentals reflect it, in turn stimulating Charlotte, NC  real estate prices. The economy may not be as robust as we’d wish, but its positive direction plus the stock market’s rebound have combined to support value growth.

What to expect from real estate prices in Charlotte this summer? Going forward, I would expect to see a continuation of gains at the slightly slower rates we are beginning to register. If that’s the case, anyone looking to re-enter the residential market should find that now is the time to start looking…and offering. Call me to discuss your own outlook!




Buying a Charlotte, NC Bank-Owned Home Takes Preparation, Patience



If you’re looking for a superior deal on a new home, you may find that a Charlotte, NC bank-owned home is a serious contender. Today’s real estate market includes a variety of foreclosed homes, some of which can be had at prices well below baseline levels.

Adding to the activity in that sector is the virtual disappearance of any degree of the stigma formerly attached to the bank-owned home market. By May of 2012, Realtor Magazine was already reporting how the rise in distressed inventories had brought about an increased appetite for the sector: “Nearly 65% of buyers say they’re likely to buy a foreclosure today compared to 25% who said that in October 2009.” And 92% of those surveyed were interested in a bank-owned home as their primary residence, rather than as an investment vehicle.

If you think a Charlotte, NC bank-owned home could be a serious contender for your attention, you should be aware of how to best prepare for the opportunities to be had among them.

 Get Pre-Qualified

Pre-qualification not only speeds up the purchase of a Charlotte, NC bank-owned home, it also produces a concrete range for your home-buying budget. Some banks charge a fee for the credit-checking procedure, while others simply build that into the bottom line.

Beware Potential Property Issues

The biggest issue facing the buyer of a foreclosed home is the potential for damage to the property. If it’s been vacant for some time, issues tied to improper weatherization or pest infestation can have resulted. A bank-owned home is typically sold as-is — so ordering a thorough, professional home inspection is an absolute must. 

Be Patient!

Buying a bank-owned home in Charlotte, NC can proceed on a different timetable than does a regular home buy, so be prepared to be patient. It’s also particularly helpful to have a buyer’s agent on your team to help answer questions as they arise.

If you are in the market for a new home this summer — whether it be a bank-owned home or not — I’m here to advise my clients from beginning to end. Getting started is just a phone call away!




A Realtor® in Charlotte, NC Does Much More Than Finding a House



As the economy continues to improve and more buyers commit to joining (or rejoining) the ranks of our area’s homeowners, access to reliable advice can be a vital difference-maker. If you’ve never worked with a Realtor® in town before, it’s important to understand the benefits they bring to the table — benefits that cause 84% of successful homebuyers to state that they would work with their Realtor again in the future.

Understanding Your Buying Power

A Realtor in town is trained to help clients determine just how much house they can comfortably afford, avoiding a later ‘too much house’ situation. In some instances, their negotiating skills can be key in bringing properties that have been on the market for a while down to a doable price-point.

Protecting Your Interests and Investment

Having a local Realtor on your team during the buying process doesn’t just make everything easier — it acts to ensure that your interests are protected. A member of the National Association of Realtors is fully qualified to help you at every step of the pre-closing process, from finding the right type of property and getting the proper inspections done through the back-and-forth of negotiating with the seller or his agent. Buyers who have teamed with a licensed Realtor are protected -- they know that they have a qualified professional serving their own interests and protecting their investment throughout the purchasing process, come what may!

Invaluable Help at Closing

Closing on a house can be a daunting prospect for an unassisted buyer. With a Realtor in town in your corner, you have an experienced expert always on call to answer questions, help gather documents, and communicate with the seller’s agent. Many of those grateful past clients know that it can even take months to close. Having an experienced guide can make smooth sailing out of the most trying of circumstances.

From finding you the perfect home, to smoothing the way through the closing process, a member of the National Association of Realtors makes buying a home significantly less stressful. Looking for a reputable Realtor in town to assist you? Call me!




A Future Charlotte, NC Home Buyer Can Boost Bargaining Power



When a Charlotte,NC home buyer first finds that single-family homes and condominiums have been getting pricier, it shouldn't be a surprise. Nationally, the median sales price is still well below the record $230,400 reached at the height of the housing boom ­ but that gap is shrinking.

If you're a future home buyer in Charlotte, you can take steps to improve the situation. One way is to increase your negotiating leverage - to turn yourself into a highly desirable buyer from the seller's point of view.

Show You're Financially Attractive: Maximize your negotiating power by getting yourself pre-approved for a mortgage loan. This is a step beyond merely becoming pre-qualified. To become pre-approved, a mortgage lender pulls your credit, studies your income, debt and employment history, and determines the size of the mortgage loan you can handle. A seller prefers working with a Charlotte, NC home buyer whose agent can present a pre-approval letter. It increases the odds that a sale won’t fall through at the last minute.

Know the Charlotte, NC Market: You’ll have a better chance of convincing a sellers to lower the asking price if you are armed with the sales prices that similar homes in the market are fetching. If a seller is asking $20,000 more than is typical, your agent will be able to present this fact in negotiations.

Prepare to Offer Something: A seller is usually more willing to come down in price when he sees a concession or two from you. A home buyer can, for instance, agree to a later or earlier closing date to accommodate the seller. You might also agree to overlook some needed repairs. Especially on fixes that might take a lot of time, such a concession can have a meaningful impact on the bottom line.

Be Realistic: Don’t ask for too much. Asking sellers to lop off 30% is more likely to scuttle negotiations than lower the price.

A home buyer in Charlotte will still find some great deals out there. With the short fall selling season upon us, if you’re considering buying, call me today to get the search going!




What You Need to Know About Property Management



Any number of Charlotte, NC property owners remain on the sidelines even as demand for rentals continues to increase. They hesitate to convert their properties into income-producers — even those that are eminently rentable — because they are already fully occupied with career and family obligations. They simply cannot devote the time and attention required.

If you count yourself in that group, perhaps it’s time to consider the possibility from another angle: hiring a Charlotte,NC property management company. Not only do they make establishing a rental easier, they also help ensure that your asset is protected — a must for landlords who don’t live in Charlotte

Even if you own a residence in one of our more desirable neighborhoods, it’s still necessary to start with a competitive read on how much rent it will fetch. That’s where a Charlotte property management company’s assessment, based on current market values in the area, can remove any worry about under- or over-charging (and unnecessary vacancies).

The right property management entity will find renters, screen them, place the best tenants in your property, and ensure that it is maintained while they are in residence. That’s a lot of work for anyone with a full-time career and/or a household to run, and why the relatively small fee that a Charlotte property management company will charge is probably well worth the cost.

An intangible yet extremely important service property management firms render comes in the sound advice they are able to offer. Their opinion on which repairs are needed and which can wait, what future expenses you should typically plan for, how best to promote your property, etc., can be invaluable. Removing the need for guesswork from the landlord’s planning perspective can mean a lot fewer sleepless nights — and often a more satisfactory bottom line.

Today’s rental properties stand as terrific investment options. They comprise opportunities that even a busy professional can take advantage of — particularly when a Charlotte property management firm is there to backstop your return on investment. If you are thinking of buying or selling an investment property in town, call me for a free market assessment.




Smart Renovation Moves Before Listing Your Charlotte, NC Home



 

 

Here in Charlotte,North Carolina's competitive housing market, shrewdly targeting which (if any) renovations to make prior to listing your home can sharply affect not only its D.O.M (days on market), but the price it ultimately brings. After making any obviously needed repairs ­ any that would be standout deficiencies left untended ­ you must still decide, what else?

Of the welter of possibilities you could choose before your property appears in the Queen City's listings, recent studies show some renovations have the greatest impact on selling prices.

An inviting outside entertainment area is a significant plus for many prospects, so the addition of a wooden deck heads the list. A deck is relatively quick and easy to install, so when Remodeling Magazine reports a 77% return at sale, being able to add “entertainment deck” seems an economical way to add appeal to any Charlotte listing. If you already have a deck, you might consider expanding or improving it.

Since the kitchen is the heart of a home, even a modest improvement ­ like freshening up cabinets or upgrading an appliance or two ­ can make a dramatic impact on saleability. If your home is already priced at the high end of the market, simply adding granite countertops is an investment that's not likely to add significantly to the bottom line...whereas the return on minor kitchen improvements is measured in the neighborhood of 75%.

For an older home, changing out questionable windows with new, environmentally advanced ones can create a listing feature that's adds appeal to utility cost-conscious home buyers. Window replacement is a quick fix; and if you already have newer windows, an upgrade to siding can add one fewer thing potential buyers find to worry about...and one more reason to choose your offering.

Such easy fixes are ways to increase the instant appeal of your Charlotte, NC listing without severely denting your pocketbook. Being conscious of the way your listing compares with others in town will put you ahead of the pack. Another way: call me for more ideas to make your home an irresistible buy!

 




Growth of Charlotte North Carolina Real Estate Prices Could Be More Believable



 

The future of real estate prices here in Charlotte, NC is always a matter of keen interest to area homeowners. So it’s important when the latest national numbers in the Case-Shiller Index show that the rate of rise in real estate prices has begun to slow.

Charlotte, NC homeowners should be pleased!

“WHAT?” you may well be thinking. If the rise in national or Charlotte,NC real estate prices is slowing down, why in the world would that please homeowners? The answer is only a little bit convoluted.

The fact is, the recent remarkable leaps in real estate prices had some knowledgeable observers shaking their heads. The Business Insider even headlined, “These Home Price Gains are Not Normal, Sustainable, Or Believable.BI was reacting to the previous three straight months’ real estate price appreciation “above 10%.” They speculated that a large number of foreclosures now being recycled at more normal price levels had created an artificially high growth rate.

That’s why slowing down a little would mean a more normal market — and more reliable growth statistics. Other conditions make that story easy to accept:

While interest rates have risen slightly, at today’s rates, borrowing is still notably inexpensive. The increase in investor participation (they tend to pay in cash) also reflects the more conservative lending environment.

By the end of the financial crisis, construction in many parts of the country had fallen sharply, leading to a tight housing inventory. The shorter supply caused additional pressure on real estate prices.

Another factor: rising rents. Whenever the economy performs well, rentals reflect it, in turn stimulating Charlotte, NC real estate prices. The economy may not be as robust as we’d wish, but its positive direction plus the stock market’s rebound have combined to support value growth.

What to expect from real estate prices here in Charlotte, NC this fall? Going forward, I would expect to see a continuation of gains at the slightly slower rates we are beginning to register. If that’s the case, anyone looking to re-enter the residential market should find that now is the time to start looking…and offering. Call me to discuss your own outlook!




Charlotte Luxury Home Sales Hinge on Lifestyle Marketing



Luxury home sales often trace a path that differs from the rest of the market. Just as high-end buyers can afford to take their time to find exactly the property they are looking for. Charlotte, NC area luxury homeowners tend to pick and choose when they will market their properties. That's pretty much what happened in the aftermath of the 2008 housing crisis: many luxury home owners in Charlotte decided to hold off and wait for the market to rebound before listing. Now, as the housing market continues to recover and home values continue to rise, the potential number of buyers interested in these homes is also on the upswing.

For those who have been postponing the sale of their own Charlotte luxury home, this summer is shaping up as a likely time to act. Before you list though, it can't hurt to revisit some basic truths in high-end real estate marketing.

Selling a luxury home requires a different marketing psychology than does traditional real estate. It simply takes longer to find the buyers for these homes, so it is almost always necessary for their owners to practice extra patience throughout the sales process.

It is absolutely essential to work with a real estate professional with experience and connections in the luxury market. An experienced agent understands the ins and outs of selling a Charlotte luxury home. It's not unusual for them to have fostered a network of qualified potential buyers who may be interested in the property.

Luxury home sales are driven by the desire to attain or maintain a specific lifestyle. It is often necessary to sell the lifestyle as effectively as the home itself. This means staging the home properly, highlighting specific “starring” details, and making sure that everything inside and out is immaculately maintained. It means a little more work for both home owner and agent, but the plus side is the size of the reward at day's end.

If you have a luxury home in Charlotte and suspect that now is the right time to sell, contact me for the kind of reliable guidance that brings success! 




Charlotte, NC New Home Checkout to Prevent Last-Minute Surprises



One of the most valuable skills a Charlotte, NC area new home shopper can develop is the ability to walk through a property and identify the areas that might require attention or repair. Even though a professional inspector will ultimately be needed, it can prevent last-minute surprises. 

 #1: Beyond “Curb Appeal”

The first thing anyone looking for a new home notices is the state of the yard and the structure’s exterior. If the grass is healthy, plants recently pruned, and walls not in need of a paint job, good. Then, dig a bit deeper. Part of maintaining a healthy landscape is having a properly working irrigation system. Ask the owner or agent to turn on the system, and as it cycles, check from time to time to see if there are any broken pipes, sprinkler heads, or valve issues. And give the exterior walls a quick check for chipping paint or plaster, cracks in the siding, or other hidden damage.

#2: Major Structural & Equipment Needs

Just like the first impression you formed outside, you’ll get a quick impression of the interior. Pros always remember to look up, checking for settling cracks in the ceiling as well as at the wall joins. The ceiling is also where stains sometimes turn up, indicating water damage from roofing problems. Upstairs in a two-story home, walk as much of the floor as possible to check for creaks or squeaks that might need repair. Finally, go into the kitchen and inspect any appliances that are included. A quick once-over should tell you whether or not these are likely to be sufficient as-is.

#3: Finishing Touches

In any new home, you will inevitably be adding your own touches — but like repairs, these will add expense. Think doorknobs, ceiling fans, cabinet doors, molding, switch plates, closet doors, window covering, etc.

Before you shell out several hundred dollars for a professional inspector, you can give any property that might become your new home an initial once-over. For more tips and for answers to any and all of your Charlotte, NC area  real estate questions, feel free to give me a call!




Finding Charlotte, North Carolina Properties for Sale With Investment Potential



What’s the difference between any home and what is called an “investment home”? Generally speaking, they are properties for sale that are purchased in the expectation that their underlying value will appreciate. Whether you choose to live in an investment home or rent it out, the prospect of growth in its value is the determining factor. (You’d be right to notice that if you can rent it for more than its cost, it’s also a good investment — but kindly forget about logic, we’re talking real estate lingo here).

For purposes of this discussion, an “investment home” is one whose underlying value grows over time. Next question: how do I find one of those?

While there is no fail-safe way to isolate Charlotte NC area properties for sale that will guarantee you can just sit back and watch it increase in value, there are rule-of-thumb characteristics that point to homes and neighborhoods that can help investors predict the direction of future value. Some of them are —

  • Look at homes in an area that shows steady population growth
  • Look for above-average rental prices
  • Pay attention to the infrastructure in the area (and avoid properties in under-maintained neighborhoods)
  • Avoid homes in the top 10% of the price range
  • Build a lasting relationship with a good real estate agent who will ultimately be able to help you decide when to sell
  • Choose a home that isn’t in need of major structural repairs

About that last point: when you are searching for properties for sale in the Charlotte NC area you should expect to do some maintenance and renovation work. An investment home’s value can take the biggest leap when a new owner applies a bit of smart fixing-up to enhance its livability while forestalling long-term maintenance issues.

Not all properties for sale in Charlotte NC are good candidates to qualify as investment homes – even those that would provide excellent accommodations for your family. However, when you target investment value from the start, the financial rewards can be well worth the scrutiny.

So…how else can you find one of those?

Short answer: call me today!




ASAP Pricing Strategy to Sell Your Local Home



 

To Sell Your Home Quickly, Get the Price Right!

Pricing Your Charlotte , NC Home for a Speedy Sale

 

Rushing to sell your home is never desirable — but circumstances sometimes require it. To sell your home in charlotte quickly, the most important factor is finding the right price. Too high a price will dampen buyer interest — but of course you don’t want to set the price too low, either. Here’s one way to find the right price:

First, complete all repairs. They’ll have to be addressed at some point, so getting them out of the way first clears the deck for your sale. To sell your home quickly, you want to feature it in the best possible light…meaning that all of the little (as well as major) repairs have to disappear from the picture. A few hours or days of hard work can have a disproportionate impact on the ultimate selling price.

Next, familiarize yourself with Charlotte, NC competitors. Scour the listings for homes in your area and attend any open houses you find. Get a feel for the way homes in the neighborhood are being listed, and which features look to be adding the most value.

It’s also a good idea to consult a qualified appraiser. Most homes will be appraised before sale anyway, and a certified appraiser will offer an unbiased view of your home’s value. Having a recent certified appraisal can also serve to encourage buyers to write an offer quickly.

At this point it will be possible to set the value. There are differing approaches to setting the price for a home, but they share a few things in common. Each generally takes into account average prices paid in recent comparable Charlotte sales combined with the appraiser’s feedback. To sell your home speedily, consider setting your price three to five percent below that formulation. While this may seem unnecessarily low, the idea is to encourage immediate interest from multiple buyers, setting up the potential for competing offers. One thing is nearly certain: a lower-than-average price will get more buyers through your door!

Planning to sell your home in Charlotte NC this summer?Contact me today to learn more about building a sales attack designed to get results!

 




Invest in US Real Estate!!



Imaginative Online Resources Can Shortcut Home Searches

 

If you are looking to buy a house in the greater Charlotte, NC area and haven’t yet taken advantage of the power of the Internet, wow! — are you missing out! A host of new technologies and online resources have simplified finding and analyzing properties. To help zero in on your ideal house in the greater Charlotte, NC area this fall, here are a few of my favorite online resources:

Google Maps can save hours of time. Just go to Google and click on the “Maps” option at the top. Key in the full address of the property you’d like to look at, and, voila! You’re instantly looking at it in a choice of satellite view or from street level. For a quick glance a property’s “curb appeal,” you can’t beat it!

Long before you buy a house in Charlotte, you’ll want to know whether it’s a bargain or overpriced. The quickest way to get a rough estimate is at Zillow. Zillow.com provides a rough estimate (okay – very rough!) of the current valuation for most properties. Although these “zestimates” are approximate, you can also see what other properties in the greater Charlotte, NC area have sold for.

PropertyShark.com is a great place to ferret out more detailed information about a property. On this site you can find out information such as the owner’s name and address, assessed taxes, and the recorded purchase price. Also find data about the surrounding Charlotte neighborhood including demographics, recent sales data, and even the heights of surrounding properties.

The Trulia website can help shorten the research needed before you buy a house. Here you pose questions about a property to be answered by local experts. Ask about prices, closing times and real estate commissions. You can also find detailed information about Charlotte neighborhoods like commute times, crime stats, and local school ratings.

Online resources like these can reduce a lot of legwork (and gasoline consumption). Of course, nothing can replace the expert advice of a local Realtor® and viewing a selection of properties in person — but using these resources helps shorten the process. If you’re looking to buy a house in the greater Charlotte, NC area this fall, we are here to help!




Our Market Blog



Selling Your Home in Charlotte Can be a Fall Success Story

 

Whenever a home lingers on the market, the likeliest two culprits are either a price that’s too high to be competitive, or a home that’s not in top showing condition. If you were unsuccessful in selling your home in the greater Charlotte area this summer, it would be particularly disappointing given the strength of the selling season. The NAR reports that in July alone, sales of existing homes jumped 17.2% compared with July 2012. At the same time, some sellers reported the reappearance of multiple offers.

The good news? Selling your home in the fall or winter is not as difficult as most people commonly assume. In fact, selling your home in the greater Charlotte area during the coming months can offer certain benefits. In what many people assume is an “off season,” fewer homes are on the market — less competition. At the same time, buyers in these seasons tend to be more serious about buying.

Pricing is almost always the overriding issue. Home values haven’t fully recovered from the peaks registered before the residential housing crash. Nationally, median prices are on the rise…but even so, they are still 7.3% below the high water marks reached in 2006. If you bought or appraised your home in 2004 – 2006, you might have to set your asking price slightly lower than the number you heard then. Selling your home with dispatch might depend on it.

Showing condition matters, too. Selling a home is different from living in it. To be competitive with the other Charlotte homes for sale, the property should be spotless for every showing. Removing excess furniture, art, and personal items such as family photos or trophies is important for creating a home that appears spacious and airy. It also lets buyers more easily imagine their own families living in your home.

Don’t let the lack of a summer sale discourage you. When you set your asking price correctly and provide an immaculate showing environment, you’ll give yourself a strong chance of selling your home in Charlotte during the cooler weather months. If you would like to talk strategy, call me today for an in-home assessment!