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Charlotte Real Estate Blog - Buddy Frey

Buddy Frey

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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!

This May Be Your Last Chance!

by Buddy Frey

"We are faced with a series of great opportunities
brilliantly disguised as impossible situations."   
                                                           - Charles R. Swindoll

Hi All,
A lot of negative coverage has been devoted to today's housing market.  However, there are many reasons why the current real estate market may be beneficial to you...right NOW.

For example, the large selection of homes and low prices make it a great buyer's market.  In addition, interest rates on home loans are historically low, making now a great time to lock in long-term mortgage rates.

Ultimately, though, these favorable conditions will go away.  As inflation rises, so do interest rates. Click on the link below to learn more so you too can take advantage of current market conditions.

                                 For More Click Here

If you are looking to become a homeowner or looking to step up from your current home...you need to strike while the iron is hot!  Please feel free to call us at: 704-409-4900 or on our toll free number:  888-553-5311

Buddy

 

 

Buying Real Estate Foreclosures in Charlotte

by Buddy Frey

When you begin hunting for a Charlotte area home, you will find all kinds of low cost bargains along the way. If price is a key factor for your real estate investment, then you might want to consider the value of HUD foreclosures. These distressed or bank owned properties are widely available under the current market conditions and as a Real Estate Agent, I have all the tools to help you find a Charlotte Foreclosed Home.

Sign Up to Receive Foreclosure Alerts Now

Foreclosure No Longer Means its an Ugly Home!

Foreclosures are properties that have been taken over by the bank because the owners were unable to continue making payments on the property. In the past, foreclosed homes were often owned by those in financial distress and likely to have been empty for some time before being sold. In the current housing market, that trend is reversing and distressed homes are usually in as good of condition as any other home on the market!

As a buyer, you gain all the benefits of buying a distressed property, without the hassle of having to reinvest large amounts of money to move in!

Buyer Traffic Up

by Buddy Frey

 

Buyer traffic seems to have picked up a bit...MTG rates back below 5.0%.    Housing affordibility index below 15 and $8,000 tax credit still available! 

Anybody still on the fence, time to get going.  1st time home buyers don't miss out...step up sellers time to take advantage of the equity imbalance!!! 

Wanna take advantage of the best real estate opportunity in over ten years?  Call me today, I can help you get started.  Have a great week everyone  :-)

It's A Good Life,
Buddy

Now for your Morning Coffee!

Discovery Place

by Buddy Frey

 

There are several great things to do with the family here in the Queen City.  One must do is visiting the Discovery Place.  Open since 1981, Discovery Place is an interactive museum full of science and nature exibits.  

Discovery Place also features Carolina's largest movie screen (3 stories high and 80 ft wide).  The "IMAX Dome" has several different shows at any give time and just recently began running Disney's Shipwreck!

  http://www.discoveryplace.org/home/discovery_place-home.php

Have fun exploring DP and as and as always...have a great week.  

It's A Good Life,
Buddy

Now for your Morning Coffee!

NC Wineries

by Buddy Frey

 

Happy belated Father's Day!   I had a great day yesterday...my Mom was in town visiting from Chicago, sent my 15 year old daughter Nicole off to an Eco/Green symposium in Raleigh, got beat 49 to 11 by my son Jack in NCAA Football (PS3) and my wife Sarah made an outstanding dinner, finishing with homemade Strawberry Shortcake!

After my daughter left we ventured out north, and a bit east, to one of North Carolina's 72 vineyards.  Uwharrie Vineyards is located in the scenic piedmont of NC in a town called Albemarle, 30 minutes or so from Charlotte.  One of the newer vineyards in NC, we decided to do the full tasting of their 14 selections.  Then, toured the winery, clean and totally modern.  The experience was fantastic and has now made me want to visit the other 71!  Here's a link to wine tasting in NC...have a great week!   www.VisitNCWine.com

 

It's A Good Life,
Buddy

Now for your Morning Coffee!

Displaying blog entries 51-60 of 80

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