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Charlotte Real Estate Blog - Buddy Frey

Buddy Frey

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Displaying blog entries 11-20 of 45

Gallery Crawl

by Buddy Frey

 

Charlotte's Historic Arts District

NoDa (North Davidson) is now the home to the City's best collection of galleries and performance venues; some of the funkiest full service restaurants including authentic Cajun cooking, Southwest cuisine, a Creative pizza eatery and more.

Check out Gallery Crawl twice a month to experience NoDa's unique street scene. Every 1st & 3rd Fridays throughout the year. From 6pm to 9:30pm. Or if you cannot make it to the Gallery Crawl please visit NoDa during regular business hours. Most Businesses open 7 days a week.

There are also several investment opportunities for Charlotte Real Estate.  This area became one of the hot spots a couple of years ago and has continued to outperform much of the Charlotte Homes for Sale market.  Please let me know if you would like a list of homes for sale in the NoDa community.  You may contact me by email at:  bfrey@buddyfrey.com

For more info visit: 
www.noda.org    See ya there!

 

It's A Good Life,
Buddy
 

 

 

 

News Update - October 2010

by Buddy Frey

October 2010 - Real Estate News

http://www.youtube.com/watch?v=X5QaG60QgUU

 

For assistance in Buying or Selling a home please fell free to contact us at:

               www.buddyfrey.com   or Toll Free 800-553-5311

Housing Starts Inch Up

by Buddy Frey

RISMEDIA, October 21, 2010—Nationwide housing starts edged up 0.3% to a seasonally adjusted annual rate of 610,000 units in September, due entirely to a 4.4% gain in the single-family sector, according to U.S. Commerce Department figures. "Builders are cautiously responding to the small improvement they are seeing in interest among potential home buyers," noted Bob Jones, chairman of the National Association of Home Builders (NAHB).

$8,000 incentive stirrs on activity

by Buddy Frey

The residential housing market here in Charlotte has picked up considerably the past 3 to 4 weeks.  We are seeing a flurry of activity mostly due the the $8,000 1st time home buyer tax incentive.  Home showings are up, conrtacts are up, and we are even getting multiple offers. 

One change in the past 10 days though, agents and buyers are now checking very carefully with the listing agents to make sure the potential sellers are liquid.  They mostly want to make sure a close can take place by the June deadline.  Many are opting to bypass the "Short Sale" right now as response time from banks has been too unpredictable.  Banks should take heed!!!

There still are good values out there...low interest rates and the tax incentive though will keep our market tight in the $200,000 and under price point at least, for the next 50 days.  If you're looking to buy or sell, please call us today...we can help.

Homebuyer Tax Credit Extention

by Buddy Frey

Every year I get a "Year End Tax Letter" from my trusted accountant.  And every year I read through it to see how it might effect me from both from a family and a business stand point.

Interestingly enough, the 1st paragraph this year happens to relate to both.  Please read below this information from my accountant Brenda Story...

...This has been a busy year with the passing of the American Recovery and Reinvestment Act and the Worker, Homeownership, and Business Act.

Unemployment tax benefits, the homeowner tax credit and the net operattion loss carry back rules are extended into 2010.  The first-time homeowner tax credit of $8,000 is extended to 4/30/10 (Close by 6/30/10 with a written binding contract entered into by 4/30/10).  A new credit to qualifying existing homeowners of $6,500 is added when a new primary residence is purchased if the old residence has been used as a principle residence for any five consecutive years out of eight years prior to the purchase....A new Form 5405 is required to be used for all 2009 returns that claim the credit and for all qualifying home purchases after 11/6/2009.

Time will be running out on this great incentive as we will have just 4 short months after the new year to take advanage of the credit.

I hope this information helps, and as always...if you know of anyone that is interested in buying or selling a home, please pass their name and contact info on and I will be sure to take grate care of them!

Home Sales Up For 6th Straight Month!

by Buddy Frey

RISMEDIA, September 2, 2009—Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2% to 97.6 from a reading of 94.6 in June, and is 12.0% higher than July 2008 when it was 87.1.The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit,” he said. “Other buyers are taking advantage of low home values before prices turn higher. 

1st Time Home Buyers Act NOW:  Please remember that in order to take advatage of the government's $8,000 rebate you must CLOSE on your new home before November 30th.  That means offer to purchases should be complted and loans should be applied for before October 15th.  

MTG rates have been stable but home prices have already begun to firm and the good homes go quick.  Don't let 2009 be the year "I should, woulda, could have".  Call us today and take advantage of what some are calling the best real estate opportunity in 25 years.  704.409.4900

Buddy

 

 

 

Short Sales Comprise More Real Estate Transactions

by Buddy Frey

Short sales are becoming a more common occurrence in the housing market. A report released on June 30 by the Office of Thrift Supervision and the Office of the Comptroller of the Currency said short sales increased by 208.5 percent for the first quarter of 2009, compared to the first quarter of 2008. In June the National Association of

 

REALTORS® statistics showed that about half of all recent transactions have been a short sale (15 percent to 20 percent) or foreclosure (30 percent to 35 percent).

A short sale enables the current homeowner to help protect his or her credit and avoid foreclosure by selling the home for less than the amount owed on the mortgage. Short sale properties can be reoccupied quickly and help stabilize neighborhoods, preventing vacancy and blight.
- Wells Fargo

Oh, by the way...If you or someone you know owes more on your home than what it’s worth, and you’re having trouble making payments, and you don’t know what to do…PLEASE CALL...we can help!

Buddy 704.409.4900

 

 

 

 

 

 

The Tax Credit Clock Is Ticking

by Buddy Frey

To be eligible for a tax credit of up to $8,000, first-time homebuyers have until the end of business on Nov. 30 to close their loans. There has been discussion that some members of Congress want to extend and increase the homebuyer tax credit. It remains to be seen if an extension or enhancements will be made.

Historically, it has taken 45 to 60 days to close a loan.  However, new appraisal and disclosure requirements that recently took effect may add extra time to the closing process.

To be certain homebuyers can take advantage of the tax benefit – as the law stands today – interested buyers should apply for their loan no later than the beginning of October to be able to close the loan prior to the deadline.

Please contact us if you or someone you know would like to take advantage of this unbelievable home buying opportunity.  We are here to help...call TODAY!

The Hardships of Buying a Charlotte Home

by Buddy Frey

When I first became a real estate agent, I discovered something odd about the home buying process... its just as hard on buyer as it is on the seller!

It did not take long to fully understand why buyers were having such hard time with the process,  buying a home in Charlotte can be a high-pressure, extremely emotional decision. The last thing a home buyer needs, is to feel they are being pushed into a home they will be stuck living in for several years! But... it happens every day!

Seeing firsthand, the hardship that the home buying process presented equally to buyers, I made a decision not to be like other Realtors in Charlotte, and instead, my primary goal has always been to simply help the buyer do what is right for themselves! I am simply their trusted guide, who takes the bits and pieces of information they feed me, and set out to find the dream home in Charlotte, to fill and exceed their expectations!

When you are ready to buy a home in Charlotte, give me a chance to help you find your dream home... I won't let you down!

Start Your Charlotte Home Search Today!

Understand Foreclosed Property and Short Sales

by Buddy Frey

When a homeowner can no longer pay a home loan in full, what often follows is foreclosure or even bankruptcy. This is a very depressing financial situation, but it can be solved with a little known alternative: the short sale.

What is a Short Sale?

A short sale is usually the last step taken by the bank to recover losses from a defaulted mortgagor. When lenders agree to a short sale, it means the lender agrees to accept less than the total amount due. They are willing to forgive a certain amount of debt or deficiency. However, not all lenders will accept a short sale or discounted payoffs, especially if it would make more financial sense to foreclose.

The full process of a short sale will include a contract, an Authorization to Release Information and the addendum. A warranty deed is a tool used in the process. Let's examine the process now, starting with the contract.

Finding Short Sale Properties

As a home buyer, finding these distressed properties can save you alot of money when it comes time to buy your first or next home. In Charlotte, sales of distressed property is on the rise, as it is across the Country.

When you sign up to receive notifications in our Charlotte Foreclosed Listings Search, you will always stay in tune with the best deals to be found in the forclosure market.

There are no obligations and you can unsubscribe at any time - but who would want to?

Sign Up to Receive Foreclosure Listings Today!

Displaying blog entries 11-20 of 45

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