Tuesday, September 30, 2008

Making a Move?

Considering Making a Move?

When you’re thinking about making a move, the first steps in the home buying process are:

1. Deciding when you want to make your move
2. Considering how much money you would like to spend
3. Thinking about what type of home you would like
4. Deciding where you would like to live

The next step is usually finding out how much loan you can qualify for and deciding the type of financing will work best for you.

If you’re in the “thinking about it” stage, you will want to speak with a lender about receiving pre-qualification. If you choose to become pre-qualified, the lender will determine how much you can borrow based on financial information you provide to the lender. Pre-qualification is useful for making preliminary decisions about how much home you can afford, but does not assess your creditworthiness.

You will need to fill out a loan application and go through the lender's loan approval process at a later date. When you decide to buy a home, you will want to become pre-approved for a loan prior to beginning your home search.
Please don’t hesitate to call or email me for additional information about the buying process. My goal is to provide you with practical information as you consider your next move. And, when you’re ready to make your move, I’ll help you find your dream home and handle all the details of the transaction, so all you need to do is pack!

Complimentary Charlotte DVD

Email; Rich@RichFerretti.com

About The Author

His testimonials speak volumes about his work ethic.
Rich Ferretti is a Charlotte NC Residential Real Estate Professional that can assist you with the purchase and/or sale of real estate in Charlotte, North Carolina and surrounding areas, from bank owned homes to new construction to waterfront property, and everything in between. Rich is a Relocation Specialist that has created a network of real estate professionals throughout the country in an effort to assist people relocating to Charlotte NC. This professional is an expert in the field of relocation and can serve many purposes beyond a simple home search. In addition to being a Relocation Specialist, Rich also holds the designations of Broker, Accredited Buyer Representative (ABR), and e-PRO.
If you are considering Homes for Sale in Charlotte NC, Rich can help!
Please visit www.RichFerretti.com for your Real Estate Needs. Rich Ferretti – Broker/Realtor - 704-564-0807 – Rich@RichFerretti.com

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Sunday, September 28, 2008

Charlotte NC First Time Home Buyers

Subject: Why Buy Instead of Rent

When you’re thinking about buying your first home, it’s essential for you to be confident in your decision to buy instead of rent. However, you may not know about the many great reasons to buy a home! Here are just a few of them:
Smart investmentWhen you invest in a home, it offers the possibility for appreciation in value. The equity becomes yours when you’re still paying off your mortgage. You even get to live in it while your investment matures.
Tax advantages Since both mortgage interest and property taxes are tax deductible, homeownership can save you significant amounts of money every year.

Planned housing costsYou decide how much you spend on your home, including repairs and improvements. Unlike renters, homeowners with a fixed-rate loan can lock in their monthly housing costs.
Improvements to your tasteYou can choose which improvements to make your own property, such as a deck, kitchen remodel, or new paint, instead of needing permission from your landlord.

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Charlotte NC Real Estate Investing

5 reasons to invest in real estate

According to the National Association of Realtors (NAR) second-home sales (for vacation homes and investment homes) accounted for four out of 10 homes sold in 2005. While vacation-home buyers purchase primarily for enjoyment, investment-home buyers are looking to generate income in the following five ways.

#1: Appreciation
Returns of 10 percent and more are not uncommon if you select good real estate properties. It’s a return rate you won’t find on bank products or with most stocks.

#2: Cash Flow
More than half of all investment-home buyers rent out their properties. Month in and month out these properties create income from renters AND gain long-term appreciation.

#3: Less Volatility
While real estate cycles through periods of highs and lows, it doesn’t change dramatically day-to-day like stocks. Investing in real estate is viewed as being less speculative than stocks.

#4 Tax Advantages
Your real estate investments offer you two tax advantages: you can deduct property expenses and depreciation. Plus doing a 1031 exchange lets you avoid paying tax on profits from the sale of rental property if you roll it into another real estate investment property (talk to your tax advisor).

#5 Value-Added Improvements
The saying “buy it low and sell it high” applies to stocks and real estate. The advantage with real estate is you can buy inexpensive property, fix it up, then raise the rent or sell it for more money.

If real estate investing is a path you are interested in pursuing, please feel free to call or email with any questions you have.

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Tuesday, September 23, 2008

Home Values in Charlotte to Rise

Dear Rich,

I am new to the Charlotte area and I am concerned about my home value. I see that values across the country have gone down and I am wondering if my investment is safe.

Kaitlin in Charlotte.

Dear Kaitlin,

Real estate should be an easy investment. With home values that have steady risen in most places and dramatically jumped in others. Yet with a suffering housing market, many people around the country are rethinking this investment, and for some, the downturn has already had a significant effect.

And yet, in a recent article, Forbes.com places Charlotte, NC as #2 for places where home prices are likely to rise. Great news for the tens of thousands of people who have moved to this area in the last few years!

To determine these numbers, Forbes.com took projections for housing stars from the NAHB and job-growth figures from moody’s economic.com for the 100 largest metro areas in the US. The estimates are based on the cost structures of business in the respective cities and the composition of the local economies.

Other cities in the countries with projected rising housing prices are Albuquerque,NM, San Antonio TX, Portland OR, and Austin TX., But rest assured, your investment in Charlotte is expected to rise.

Best of luck,

Rich Ferretti

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Sunday, September 21, 2008

Charlotte Economy Woes? Half Empty or Half Full?

Dear Rich,

My wife and I recently moved to the Fort Mill area (South Carolina) and have been delighted by the friendly people and affordable housing (we are from NYC). But there are some things that make us nervous as first time home owners. Certainly the economy in Charlotte is better than most places, but with the banks in turmoil and gas prices high and all that comes with that, we are looking at ways to cut back, and save and just make good financial decisions. Do you have any advice for a young couple who just bought their first house so that we can protect ourselves from the struggle that so many of our friends are going through across the country?

Robert S., Baxter Village, Fort Mill

Dear Robert,

Thanks for writing in--and you are smart to consider how to make the best of this situation. I am an optimistic person, but I have also seen the ebb and flow of the economy over the last many years. Now, this is a tough time, no doubt, but there is a lot to think positively about.

First , we live in one of the best places in the country for jobs, home values, and prices. Because of the banking industries here in Charlotte, there is a base that will keep us from suffering like other parts of the US. In fact, with the dreadful news the last 2 weeks, I actually think that we will be seeing a positive influx as the banks merge. We could end up growing and gaining far ahead of what we could have expected.

Second, Charlotte was never pushed by big value swings like California and Florida, so our home values are at what they should be. Your property value should rise--slowly, but consistently--like it should. So while it may seem scary now, be assured that you made a good investment.

Third, we are smart. Having gone through this, we know how to get through it if we make good decisions. My advice is to not over extend yourselves, shop smart, drive when necessary, and consolidate trips when possible. In fact, you and your wife may be great candidates for a program called uFirst Financial--which helps you pay off your mortgage in a fraction of the time through a smart and proven process. This way when we hit a little bump in the economy next time, you will have more equity in your home and less debt. I would love to talk to you about this option. I am excited that it has been able to help so many people I know, and I think that given our current situation, it just makes good sense.

Give me a call at: 704-564-0807, for more information on uFirst and how to protect yourself in the next economic slowdown--or if you have any other questions that I can help with.

Congratulations on your new home in Baxter--that is a beautiful neighborhood!

Rich Ferretti

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Thursday, September 18, 2008

Charlotte: #7 Hottest Job Markets

Charlotte, NC has another reason to celebrate --We have been ranked #7 in the Hottest Job Markets, making Charlotte an even more attractive place to live.

Only five markets have gained at least 14,000 jobs since the summer of 2007. Among them is Charlotte, which has added 14,200 jobs in the last year. This remarkable one-year growth rate of 1.9 percent ranks fifth nationally. And while the past year, and especially the past couple months have seen the U.S. economy struggle, Charlotte, North Carolina continues to hang on and even thrive.

The bad news for the country is that we have seen 394,000 private-sector jobs slip away since mid-2007, perhaps this has affected you or someone you know. Certainly many people are feeling the economic slow-down. But a few sections of the country--including Charlotte have managed to avoid this economic turmoil.

Charlotte's Stats:
Private-sector jobs as of mid-2008: 773,300
Unemployment rate as of mid-2008: 6.3%
Private-sector trend since mid-2003: Added 96,100 jobs
Five-year growth rate: 14.2%
Private-sector trend since mid-2007: Added 14,200 jobs
One-year growth rate: 1.9%
(*from a study from BizJournals 2008)

Want more information about the Charlotte area real estate market?

Wednesday, September 17, 2008


If you are following 'the herd mentality' and living your life the same way as every other 'good citizen' according to traditional and institutional norms, you are being set up to take a fall.

What happens when the debt bubble bursts? Will you survive your debt load if you have any interruptions in your income? Even if you have low debt and a strong net worth, will your employer or business survive the economic crisis to follow? Are you ready for the worst with a plan not only survive but to thrive among potential worldwide chaos?

You need a plan that steps outside of traditional norms to create a paradigm shift in your thinking, to bring you opportunities which your corner broker or advisor has never conceived, let alone offered you. Above all, you need exceptional results for extraordinary times.

Your Queen Shoals, LLC consultant can help you devise such a plan on a customized basis.

In the traditional economy, local companies used to compete for your business.

In the global economy, nations are now competing for your business and offering some substantial incentives to get your attention!

Either you or one of your neighbor's jobs has likely been 'outsourced' and shipped offshore. Who benefits, you or the company leaving you in the dust?

There is only one reason for anyone to 'bite that dust' and limit their options to strictly those available with the local traditional institutions or brokerage houses and that reason would be simply a blatant ignorance of better options. We have been taught to think inside the box or to have tunnel vision.

Your 'patriotic duty' is to take care of your family using the best means available. Strong families make for a strong society. From these strong grass roots, societies can thrive. And only from a position of strength, can you truly be able to help yourself or others.

Why would you sacrifice your family's future to support the corporate stockholders of 'First American Bank' and brokerage house? With your own success you could create more prosperity for yourself and your family? That's your patriotic duty: create prosperity for yourself, and share your 'secrets' with those who would follow your steps whenever possible.
Queen Shoals, LLC has benefited from strong oversight and accountability with fewer regulations and restrictions, lower expenses, more streamlined management and higher profitability. What would you think that might mean for the clients of this firm?

Finding Extra Money
How do I find the funds to start my a plan not only survive but to thrive among potential worldwide chaos?
Most people have unproductive assets, which are underutilized. To accelerate the achievement of your goals and objectives you need to put every available soldier on the battlefield to fight for your security and comfort!

Here are just a few ideas:

Home Equity:

How much or how many dollars is the equity in your home making for you every year other than appreciation? What if you could pull $10,000 - $100,000 in equity from your home and it cost you 8% per year and you could put those funds to work safely and earn 12% to 20% in the same time period?

Cash Value Insurance:

What is the cash value in your life insurance doing for you? Not much of anything I’m sure? Cash in the policy (if you can replace it with term) and put that money to work. Once you have enough of a net worth, you won't need insurance anyway! You will be self-insured.

Business Assets:

Stop and figure the net asset value of your business. Then figure the net profit per year. Then
subtract the value of the labor you are putting in to come up with a real profit figure a not just a salary exchange for your time. With this, figure the net % return net asset value that your business is generating. Then look at what some alternatives can do for you. You then must determine where these assets will work harder you, and you work less for them! It may lead you to a drastic paradigm shift, your outlook on life, but then you are seeking drastic results aren't you?

Qualified Retirement Plans:

If you have done any planning at all, you likely have an IRA, SEP some tax-deferred savings set aside somewhere. How have those been performing for you? What if we could show you a way to legally redirect, with no tax consequences or penalties, those assets for a much more profitable growth? This growth will increase your retirement income for you.

Your Time, Skill and Intellect:

Whether you have any of the above assets or not, you have your time, skill and intellect. Your assets are what your personal skills and talents generate for you? Do you have the proper environment to do what you love, to excel at it, to profit off it and have the freedom to work when and where you please? We can show you how you can accomplish it in a very short time. You may be in the position where we just have flat out generate more cash to meet your needs. We have a professional and rewarding solution for you.

No matter what your age, Queen Shoals, LLC has a plan for you. Whether you are nearing retirement and aren't properly prepared, or you are just starting your career and don't see yourself working in a cubicle for the next 40 years! Here are some typical scenarios. See if you can relate to any of them no matter what your age bracket;
In your 20s
• You have graduated from school. Congratulations! Sorry to say, your schooling has not yet begun. You have learned 'maybe' enough to get a job and survive but being nothing more than a cog in the corporate wheel will create a life of abject dependence for you. Now you have to start learning what they don't teach in any school, how to rise above the herd and make your mark. Put your energy into what Queen Shoals, LLC has in store for you and you'll be able to retire in a couple short years. Then, what you do with your life is completely up to you!

In your 30s
• You may now have family obligations and considerations. The status quo may be covering your needs all right, but you're not even close to your 'wants' and your future obligations with family are mounting along with your debt. Your lifestyle requires two incomes and this creates more stress than you need trying to cover all the bases. You still have time on your side and could use an effective, more aggressive plan which allows you to provide for the family, allow one (or both) of you to stay home, turbo charge your income and savings rate so that your 'Present' is a higher quality of life and your 'Future' is more secure with very achievable goals and objectives now in sight in the near term.

In your 40s
• Your career or business might be doing fine (or it might not) but you find yourself working harder and gaining only marginally. You should have more to show for your hard work than you do and your (traditional) working career is already half over. You could use a boost. With the right plan Queen Shoals, LLC might be able to show you how you might still retire early!

In your 50s
• You may have done very well for yourself in your business or career and have built up a nice portfolio with some good equity. The problem is that your traditional investment advisors aren't getting you the results you need. You're open to alternative ideas to take more control of your finances, or you may have enjoyed life but have neglected your finances and retirement age is right around the corner and is staring you in the face. What's your plan? You are in trouble and definitely need the Queen Shoals, LLC.

In your 60s or above
You've got a nice nest egg. That's not the problem. The problem is: You're too healthy and vivacious! You're afraid you'll outlive your savings. You need to make it work harder for you. We can help.
No matter what your age or situation, Queen Shoals, LLC is able to help and teach you how to start getting immediate results, which only grow over time. Talk with us now.

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Your Money and Investing

Once in a great while there comes an opportunity to invest with a company that can guarantee you 15 to 20% return on your money. Don't believe it??? Call or email me today so I can help you get rid of debt and increase your money.

As a full time Real Estate Broker here in Charlotte NC, I am always looking for new ideas to help my clients. Well, I found 2. One programs helps to eliminate your debt and the other helps you grow your investments. Remember, I only recommend products that have been verified and use myself.

Let me help you.

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Sunday, September 14, 2008

Charlotte NC Buyers Market

If you’ve been sitting on the fence wondering if you should buy a home—now is a great time. Here in Charlotte North Carolina our market has slowed along with the rest of the nation. Prices have fallen and I believe we have seen the bottom. Buyers have many choices making Charlotte a buyers market.

After spending some time with a client last week it was decided to drop the price another $5,000 and Boom, lot’s of activity. Buying a home is very emotional. It is my job to help people make an intelligent choice comparing not only pricing but future growth. I always tell my clients “I can find you a home but you have to feel comfortable in that area” Some basic questions are:
City or Suburbs
Single family home or townhome
Large lot or small

These are just a few points we need to address before we start the process.

Let me know how you feel?

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Thursday, September 11, 2008

Charlotte NC Residential Real Estate Sales Trends

Dear Friends:

The latest Residential Real Estate Sales Trend report was released last week and it is my opinion that our market is still strong and is in the process of rebounding.

According to statistics the average days a listed property is on market is now 130.7. The amount of contracts between July 6 and August 5, 2008 decreased by almost 28.2% compared to last year at this time and residential closings were down by 29.8%.

At the present time there are 30,000 listed properties in our MLS area which encompasses 10 counties with estimated closings at 2,700. These figures equate to an inventory absorption rate of 11. This means at present time we have 11 months worth of inventory and still in a buyers market. With prices trending downward there are some great buys in our area.

Go to my Charlotte Real Estate website for additional information and available properties.

Rich Ferretti
Tel: 704.564.0807
10801 Johnston Road
Suite 216
Charlotte, NC 28226

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Friday, September 5, 2008

How to Finance that Bargain Property

Charlotte’s current buyer’s market and higher foreclosure rate means that there are some great buys are out there, but do you have the money to make that investment?

So you have been reading the papers and watching the news. Falling real-estate prices may have you thinking that maybe now would be a good time to buy a new house as an investment or first home—and you would be right. Now is a great time to buy—if you have the money available and credit to do that.

Credit companies have become increasingly more conservative with whom they will extend mortgages to and at what rates. As they face their own financial crisis, they too are looking at “good deals and “sure things.” There decision is a business one, not clouded my sentimentality or dreams.

Of course if you are a borrower with excellent credit, high income, few debts and a large down payment you will likely have no problem getting a loan. However, if you are an applicant who don't meet those criteria, you may need to employ other strategies to secure loans to buy that great deal.

Take a long hard look at your personal finances…Are all of your credit cards paid off, or at the best rate possible? Do you have a significant amount in savings and/or assets you can sell (a car, a boat, etc.) Do you have equity from another property? Generally, the more money that you have to put down, the lower the interest rate you will be offered.

A business transaction…Many people face challenges when financing their first or second home, yet some investors are able to secure loans for several real estate investments. How do they do it? The success of acquiring these loans is directly tied to their ability to present the bank with a compelling business case for why the investment will succeed. For investment properties, prospective buyers need to demonstrate they will use case flow: rent minus mortgage, tax and maintenance, will cover the costs of ownership over a period of years. If you are a buyer who intends to live in the home yourself, having this breakdown of expenses is also important for you and the mortgage company—they want to make sure you can budget for the payments, expenses, repairs, and all of the other financial responsibilities you have.

Check with the Government…The federal government actively promotes homeownership. It is true that it wants you to own a home, and so there are many programs available for financing, even for people who don't qualify for traditional bank loans. However, these programs generally don't serve investors. Options like those provided by the Federal Housing Administration which runs the largest program, is popular since the FHA protects the lender from risk of loss, the lender is able to make loans to borrowers with riskier credit profiles. These programs are usually extended to first time home owners.

Other federal programs include:

The Veterans Administration Home Loan Program—provides mortgages to veterans.

The Department of Housing and Urban Development's Teacher Next Door Program—helps teachers buy homes.

The Department of Agriculture's Rural Development Housing & Community Facilities Program—extends financing to low-income buyers in rural areas.

Alternative Lenders… A fast-growing alternative source of funding is called "peer-to-peer" lending. Prosper.com, which operates a Web site through which people borrow from and lend to one another, provides loans advertised at rates typically 3 percent to 5 percent below what credit-card companies would charge. Now, the loans on Prosper and similar sites tend to be less than $25,000, however, this option works well for down payments and often, banks will be more apt to extend a mortgage if there is significant down payment money available.

Know when is when…If you are finding that getting a loan of any kind is just not happening, there may be a good reason. Perhaps the property you have your eye on isn't the great buy, and everyone see it but you. You need to know when to walk away if there is any reason this does not seem like the “deal” you thought it was. Or maybe your financial situation just isn’t one that can take on an additional mortgage. Remember that you need to be smart when making a property investment that you could be paying for, for the next 20-30 years!

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

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Charlotte North Carolina Real Estate Professional. Visit our site www.RichFerretti.com