Wednesday, December 30, 2009

Tips for Buying Foreclosures in the Charlotte Area

Many Charlotte area residents are considering foreclosed properties either as first-time home-buyers, or as investors. The number of available foreclosed homes is incredibly high--at 1.5 million right now, and more are expected to be available soon. This means great opportunities for bargain hunters, and plenty of possible pitfalls for home buyers as well!

Here are 7 tips for making sure you get a foreclosure that is right for you.

1. Don't get caught up in the "foreclosure frenzy"

Everyone loves a great deal and the idea of getting a home for a bargain, or even for less than it is worth can make people pretty excited--but that doesn't mean you should forget your common sense! Banks put repossessed homes back on the market at below-market prices because quick sales help avoid the expenses of keeping the home up, the property taxes, the insurance, heat and electricity. They need to get these houses off their books (and onto yours!) so they are willing to make a deal.

Those hard-to-believe prices may be golden opportunities, but they may also attract a frenzy of buyers who may bid the homes up until they are no longer bargains. Don't get caught up in a bidding war, and find yourself spending more than you can--or should for a property. Carefully consider what you want to spend, and when the home reaches that point in the bidding process, move on.

2. Contact lenders directly

Buyers looking for an edge, should establish relationships with asset managers at banks. The asset managers may know when new foreclosures hit the market, and can give you a competitive advantage. In the case of a short sale, you should talk directly to the property's asset manager. That way, if the short sale falls through and the bank repossesses the house, the asset manager knows you are still interested, and you could be in a situation where you get the advantage of a quick sale without other bidders.

3. Get pre-approved from "their" bank

If you're trying to buy a property from a certain bank, take the extra step to get a pre-approved mortgage from them. Lenders may be more inclined to accept your bid if they know they are also getting your business in the deal. (And you can always change lenders laters)

4. Consider fixer-uppers

Most bank owned properties, are "sold as is", and many foreclosed homes are in less-than-perfect condition. Since the former owners were often struggling to pay their bills before the foreclosure, they may have neglected routine maintenance, or even the big stuff"--or they chose to trash the property before vacating, removed the majot appliances, fixtures, wiring and other important pieces of a home.

While some lenders will make some repairs before the sale closes, many would rather sell the house to the next available bidder, so be willing to consider a home that needs some work, and just budget the repairs into your overall investment numbers.

5. Work with a real estate attorney

Once the bank agree to the sale, they will often want to move fast--and the real estate contracts are full of legalese that can be hard to understand. Choosing to work with a real estate attorney is a great solution, even in states where they are not required. A real estate attorney can assist you in making sure the contract is equitable and the property you are buying really is a deal!

6. Wait to make an offer

It may work in your favor to wait before making an offer on a property you really like. Let the house sit on the market a few days, and then talk to the agent--they may give you some kind of clue as to what a good number is compared to bids that have already come in--especially on a home that has LOTS of interest (but don't wait TOO long--a day or two will usually be plenty in a hot market).

7. Have an inspector and/or contractor look at the property

It is true with any home--but especially so with foreclosed pays to have a professional look at the "structure" and potential problem areas of the home before you make an offer. A professional home inspector and/or a contractor will be able to tell you about foundation cracks, heating and cooling systems, roofing issues and other needed repairs, and what it will cost to make the repairs, and get the home in working condition. A contractor may also be able to tell you what "could" be done in the future to make that home more livable, such as a patio or sunroom, or other additions.

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Sunday, December 20, 2009

Homebuyers...May Want to Wait to Move Up

While home prices in the Charlotte area are showing signs of recovery on the lower end of the market with the government's first time home buyer incentive bringing in new buyers, higher end home prices will likely take a while longer to rebound.

Why? There is an unfortunate, but large supply of homes that have, and will be hitting the market in 2010. Foreclosures caused by continued and rising unemployment and adjustable rate mortgages will soon be flooding the market, and affecting the larger and more expensive homes.

So if you are a first-time home buyer, or in the market for the mid to low-end home, now is an excellent time to take advantage of low interest rates, incentives and low-prices. But if you are looking at moving up into that big beautiful high-end dream home in Charlotte, you may do well to wait a year until the market has bottomed out, and home prices for that range at at their low!

If you would like more information about whether now is a good time to buy for you, contact Rich Ferretti at 704-564-0807.

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Saturday, December 19, 2009

Charlotte NC and Mint Hill NC Real Estate

Back by popular demand..

So many people requested information regarding the "Charlotte Custom Home Blog" we decided to republish the web site.

To make your life easier, sign up to recieve the latest copy.


Tuesday, December 15, 2009

Charlotte NC--Mint Hill NC Real Estate Update

Here's a great article you need to read!

5 Questions to Consider Before Purchasing a Home

By Mary Ellen PodmolikPrint Article Print Article

10047-01376lwRISMEDIA, December 15, 2009—(MCT)—Interest rates on the benchmark 30-year, fixed-rate mortgage dipped to a 38-year low recently, giving consumers another reason to consider purchasing a home or refinancing their current one.

Freddie Mac recently stated the average rate on a 30-year loan was 4.71% with an average 0.7 point, the lowest rate since the agency began its weekly tracking of long-term interest rates in 1971. A point is equal to 1% of the loan amount, payable as a lump sum at closing. While the decline wasn’t overly dramatic, the dip is likely to get people wondering whether it’s time to sign on the dotted line.

The 5 following questions may help you decide if now is the time to go ahead and purchase a home or refinance your current home.

Q: Why are rates so low?
Since early January, the Federal Reserve has been purchasing mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae in an effort to stabilize the housing market by making homes more affordable for consumers. The Federal Reserve Bank of New York, which is managing the program, plans on purchasing $1.25 trillion of securities.

Q: Are rates expected stay this low?
It’s hard to tell, but don’t count on it because the lending landscape is likely to change next year. In September 2009, the Fed said it would gradually wind down the purchase program, ending it by March 30, 2010. That has some in the mortgage lending industry worried.

In a recently published mortgage survey, more than 60% of’s panel of experts predicted that rates will move higher over the next 30 to 45 days. How much higher is anyone’s guess. Last year at this time, the average 30-year, fixed-rate mortgage was 5.53%.

Q: Why do different mortgage surveys come up with different average interest rates?
It depends on which lenders are in their sample, when the survey was taken and whether the rates quoted are the posted rate, the application rate or the commitment rate. Also, some surveys take into account the points paid to secure the rate.

But regardless of the survey, the general consensus is that rates are ultra-low right now and may be the lowest the market will see.

Q: What else does a consumer need to know?
The lowest rates are offered to the most credit-worthy customers who can make sizable down payments. Shop not just for the interest rate and the points involved but also for the fees involved, which can vary widely from one lender to another.

If you’re refinancing, remember the bigger the loan, the greater the payoff for finding a lower interest rate. Savvy customers put in their paperwork with a lender and set a “strike” interest rate at which to lock in the loan, a good move considering rate volatility.

Several refinancing calculators are available online that let borrowers plug in all the required numbers and determine the monthly savings and how long it will take to recoup the expense of a refinancing.

Q: So is now the best time to buy a home?
It depends on personal situations. Homebuyers certainly have a lot of factors working in their favor right now—low interest rates, plenty of marked-down homes for sale and an extended and expanded federal tax credit that will expire in the spring.

On the flip side, there’s growing sentiment among analysts that housing prices, which are showing ever-so-minor improvement, may fall further. The reason? Lenders are expected to get better at determining which borrowers will qualify for loan modifications. That means lenders also will get faster at moving homes through the foreclosure process.

Mark Zandi, chief economist at Moody’s, recently predicted that housing prices nationally will hit bottom in 2010’s third quarter. That means anyone buying a house now could see the value of their investment initially depreciate.

Want more information? Call or email me today.

It truly is a great time to purchase a home.

Monday, December 14, 2009

Local Market Update from Rich Ferretti

Just in time for the holidays, an homes sales up-swing in progress!!! Here are some statistics:

The Charlotte Regional Realtor® Association reports that the number of closings for October 2009 (2,210) increased 13.6 percent over the previous month when closings were 1,945, which is also up 19.6 percent over 2008.

The average sales price for homes in October 2009 was $196,204-- down 0.3 percent over last month ($196,760) and down 9.5 percent over last year. The average listing price of solds in October 2009 ($218,050) is down less than 1 percent over last month’s list price of $219,925.

The residential contracts reported figure in October 2009 was 2,400 an incerase of 9.1 % over last month when contracts totaled 2,199. This figure is also up 33.5 percent over last year when contracts totaled 1,798.

What does all this mean?

Home sales are on the rise!!!

Also note that mortgage rates continue to make both new and resale home purchases easier: 30 year fixed rates declined to just below 4.8% on average recently, and 15 year rates dropped below 4.3%, (the lowest recorded by the MBA since it began its national rate survey in 1970).

Are you looking for a new home? Let Me Help You!

Just tell me what you are looking for and I will search all of our sources and provide you with a convenient report of all the properties that you may be interested in, complete with photographs of the properties and detailed neighborhood information. Now to buy is NOW!!

Whether you're buying a new home in Charlotte, investing in property or selling a house, feel free to contact me, and I will be happy to help you with all of your real estate needs.

--Rich Ferretti

Would you like more information about the Mint Hill, Matthews and Charlotte area real estate market? Check out or call Rich Ferretti at 704-564-0807.

Wednesday, December 9, 2009

First Time Homebuyers Fueling the Surge

The first-time home buyers tax credit no accounts for nearly half of home sales according to an industry report released recently.

A whopping, 47% of all Americans who purchased homes this year had not owned one during the previous three years, (National Association of Realtors (NAR))--a statistic that was up from 41% of sales in 2008 and 36% in 2006.

The credit which was was recently extended through the middle of 2010 and expanded to include many existing homeowners, gives the first-time homebuyer incentive with a credit of up to $8,000 to buyers which they could deduct from their income taxes. This credit is fully refundable, even if the buyer has less than $8000 in taxable income.

"With the expanded criteria, many people looking at homes are eligible, " says Rich Ferretti of Jamison Realty in Charlotte, NC "This is a great time to be buying."

If you would like more information about the Mint Hill, Matthews and Charlotte area real estate market check out or call Rich Ferretti at 704-564-0807.

Sunday, November 29, 2009

Mint Hill NC and Charlotte NC Real Estate Update

Courtesy Of:
Rich Ferretti
November 2009
Helping clients for over 20 years!
Copyright 2009 Realty TimesAll Rights Reserved.

Rates Remain Low In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 5.03 percent for the week ending October 29, 2009 - up from the previous week when it averaged 5.00 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 6.46 percent. "Interest rates for 30-year fixed mortgages have averaged just below 5 percent this year, which is the

Realty Times
U.S. averages as of October 29, 2009:
30 yr. fixed: 5.03%15 yr. fixed: 4.46%1 yr. adj: 4.57%
lowest 10-month average since the survey began in 1971," said Frank Nothaft, Freddie Mac vice president and chief economist.

Homebuyer's Tax Credit Extension The Senate now appears likely to pass a bipartisan compromise extending and expanding a tax credit for homebuyers. The deal would extend the $8,000 credit for first-time homebuyers for sales contracts entered into by April 30, 2010, and closed within 60 days. It would also add a $6,500 credit for some owners of existing homes as long as they have been in their homes for five consecutive years in the past eight. The income cap would be raised to $125,000 for individuals and $225,000 for married couples, up from $75,000 and $150,000, respectively. Check with your REALTOR® as more details about this credit extension become available.

Value of Remodeling Projects Up The value of remodeling projects nationwide increased 20 percent in the second quarter compared to the same quarters of both 2007 and 2008, according to a Remodel or Move survey of remodeling permits. Remodel or Move said the increase followed an earlier report that identified 5 percent of homeowners who said they planned to remodel in the time period. Most of the remodeling activity was in the Northeast and the Southwest. The rest of the country hasn't seen much recovery, the survey found, Authors of the report speculate that more people are spending money on remodeling projects because of declining costs and government stimulus payments.

Taking Advantage of Tax Incentives If you're considering a major purchase like an energy-efficient home improvement or a new car, there are tax incentives available that can help you offset your costs by reducing your federal income tax liability. Home Improvements: Tax credits of up to $1,500 are available to taxpayers who make certain energy-efficient home improvements that are placed in service by December 31, 2010. The improvements must be made to the taxpayer's principal residence, with tax credits available at 30 percent of the cost - up to a maximum total of $1,500 - for the following products: windows, doors, insulation, roofs, HVAC, water heaters, and biomass stoves. New Car Tax Deduction: Taxpayers who purchase a new car, light truck, motor home or motorcycle after February 16, 2009 and before January 1, 2010 can deduct the state and local sales and excise taxes paid on their purchase from their 2009 federal income tax. The deduction is limited to taxes paid on vehicles with a purchase price up to $49,500; if you buy a more expensive vehicle, you can deduct only the taxes paid on the first $49,500 of the purchase. Unlike a tax "credit", the new car tax deduction reduces your taxable income - rather than your income tax due. Remember to consult with a tax advisor regarding your eligibility.

Equal HousingOpportunity

Rich Ferretti, Broker/Realtor 704-564-0807rich@richferretti.com">704-564-0807rich@richferretti.com

Jamison Realty704-564-0807500 W. John StreetMatthews, NC 28105

Want more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out

Virtual Tour # 52744 - 1123 Chadwyck, Monroe,, NC, 28110. Powered by FloorPlanOnline

Virtual Tour # 52744 - 1123 Chadwyck, Monroe,, NC, 28110. Powered by FloorPlanOnline

Want more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out

Charlotte NC Real Estate Investor Update

Courtesy Of:

Rich Ferretti
November 2009
Go To Page 1

Helping clients for over 20 years!

Bringing you the best in Charlotte NC real estate news you can use.

Copyright 2009 Realty Times
All Rights Reserved.

Real Estate Investment Buying Tips
By Kenneth R. Harney

      Foreclosures and bank REOs are pulling a new wave of novice investors into the market, some of whom "are just plain clueless, to put it bluntly," says Robert Cain, a long-time rental market and real estate management specialist based near Tucson, Arizona.

      "They see the price and they way, wow! I can buy that house and turn it into a rental," says Cain, who lectures around the country and online about investing intelligently.

      "But they don't understand the local market, they don't understand landlording, and don't even necessarily visit the property," Cain said in an interview last month with Realty Times.

      For example, a property manager in Tennessee called Cain for advice recently. The manager had a simple question: "Should I fire my client?" who lives in California and purchased rental real estate 3,000 miles away in Tennessee -- sight unseen because the low price made it sound like a steal.

      But the property had a long list of defects requiring costly repairs, and it was slow to rent - causing the absentee owner-investor to blame the property manager for the cash drain.

      "We see it constantly," said Cain. "New investors think it's easy. They buy on emotion, on low pricing, rather than buying with a disciplined plan.

      What are some of the key rules for freshman class investors? Here are a few of Cains' that have served him well since the early 1980s:

      Number one: Due diligence is never optional. You've got to understand the local market - and that includes not just where prices are headed, but specific market demand for rental real estate in this price segment, and even the local government's plans for the area where you're thinking of buying.

      Number two: Buy with a written plan - that's right, just like the large professional investors use, with an entry strategy and an exit strategy. How long are you going to hold onto the property, how much will it earn you during your period of holding?

      And what's the endgame - a sale to another investor? Conversion to condos? Tear it down and build something that's closer to the underlying real estate's highest and best use?

      "Write it all down," says Cain. That way you can analyze it better.

      Number three: Calculate the actual costs of the property in advance - not just the bargain basement price, but how much you'll need to fix it and feed it - the management costs, rental commissions, vacancy costs, taxes, to name just a few.

      "If you don't know these things up front," says Cain, "you are flying blind. And there are no good surprises in real estate."

Rich Ferretti Managing Broker with Jamison Realty is a seasoned veteran with over 20 years experience.

Once you work with Rich you'll understand what everyone is saying.

He's the best!!!!!

Equal Housing

Rich Ferretti, Broker/Realtor

Jamison Realty
500 W. John Street
Matthews, NC 28105

Charlote NC Real Estate Update--Nov 2009

Courtesy Of:

Rich Ferretti
November 2009
Go To Page 1

Helping clients for over 20 years!

Copyright 2009 Realty Times
All Rights Reserved.

Vital Information for First-Time Buyers
By Phoebe Chongchua

      The first-time homebuyer Federal tax credit for $8000, record-low interest rates, and nationwide median home prices dropping to the lowest point in five years, makes this an enticing time to consider buying a home. By the way, that tax incentive isn't truly just for first-time buyers -- it's defined as those not having owned a home in the last three years. Research and knowing your options are critical. Check with your tax accountant for more details. It’s increasingly likely that Congress will extend and expand the popular home buyer tax credit, which will expire at the end of this month. 

According to an article in August in the Raleigh News & Observer, 10.8 percent of buyers are motivated to buy due to Federal and state tax incentives. So far only 1.14 million buyers have filed for the credit but many more are expected to file for it on their 2010 returns. However, the National Association of Realtors reports that the first-time homebuyer figure in July was still about 10 percent below the average for the past six years.

There are many aspects to consider when buying your first home. Your price point, location, lifestyle, expert help, mortgage programs, inspections, how quickly you want/need to move, the list goes on. It can seem like an overwhelming process for first-time buyers. In fact, some shy away and continue to rent simply because they don't know who to turn to or where to begin. Today there are more resources than ever available with just the click of a mouse; however, that can create information overload! But if you take a breath and relax, I'll sort through some important factors for home buying. And even if you're a seller, it's good to review this material because it helps to remind you where first-time buyers' mindsets are when they make an offer on your home.

Give yourself more time than you think you need. Due to the housing crisis and credit crunch, the mortgage process can take even longer than it did previously. Searching for a home is averaging about 12 weeks while getting the mortgage process wrapped up can take up to 60 days, according to information released by National Association of REALTORS 2008 Profile of Buyers and Sellers.

Give yourself plenty of time to understand how much home you can afford, what kind of loan is most suitable for your needs, and, of course, plenty of time to select the home that fits your lifestyle. First-time homebuyers often don't have a lot of comparison shopping experience. Frequently they're just getting started. What is acceptable for a rental is likely different from what first-time buyers expect and accept when purchasing their first home. However, first-time buyers must understand that shopping for a home is akin to shopping for a mate... there are always some compromises that are necessary. If you don't allow enough time, you'll find that it will lead to headaches, rushed decisions, and, in the end, you may feel pressured to buy something that you have not had enough time to completely consider—maybe because you have to relocate and start your job.

Never skip an inspection. You simply can't spot everything that could be wrong with the home. While not all sellers do it, some hire an inspector to inspect the home when they list it on the market. However, the burden of the inspection typically falls on the buyer to pay for it. And the information you receive is invaluable. Hiring a certified inspector to give the home a once-over will help you discover problem areas that your agent can then negotiate for repair work or price adjustment. Also, note that the home inspections (yours and the sellers) may differ; examine both, this way you'll learn more about your potential home.

Frank Schulte-Ladbeck, a licensed home inspector says that when you get your home inspection be certain to have everything turned on. In one case, "The water valve to the house was turned to almost off. When you turned it on to regular pressure... the seller had water spurting out of almost all of the faucets because all of the O-rings, the seals, had all dried so much that they were just allowing water to spill right out of them," said Schulte-Ladbeck.

Use experts to help prepare. Having a team of experts who can expedite your search by finding the most suitable properties for you will save you endless hours of looking. Also, the right mortgage expert simplifies the loan process. You'll be guided through the home-buying process instead of becoming overwhelmed by the options, paperwork, and tasks. Using the best specialists can truly make buying your first home a wonderful experience.

Rich Ferretti is involved-period. With over 20 years experience you can trust Rich to take care of all your Charlotte NC real estate needs.

Equal Housing

Rich Ferretti, Broker/Realtor

Jamison Realty
500 W. John Street
Matthews, NC 28105

Charlotte NC Relocation

  • Moving to Charlotte NC?
  • Looking for moving and relocation advise?
  • Rich Ferretti is a 20 plus year real estate professional offering information on Charlotte NC and the surrounding areas.

Rich relocated to MInt Hill NC from New Jersey to be closer to his family. When asked why Mint Hill, he says "it's where Mayberry meets the 21st Century". What a great place to raise your family.

Call or visit Rich Ferretti on for all the info you need.

Rich Ferretti

Manager/Broker 704-564-0807

Only 10 miles to the Center of Mint Hill

Here's the home you have been waiting for...and it's 8.5 miles to I-485 and 10 miles to the center of Mint Hill.

This home offers 3 bedrooms 2 1/2 baths plus large bonus room. Low Unionville taxes. All this on 2.6 acres and a private pond.

Check out the Virtual Tour at

1123 Chadwyck-Sirmarco 007 Your own Private Pond

Chris Sirmarco House view of home and pond 2 large proches

FPO_52744_005_resampled What are you waiting for?

This home is waiting for a new family. Backyard has huge playset and tree house. 2.6 acres in the country.

Call me today at 704-564-0807

Rich Ferretti is your Real Estate Broker and Professional.

Rich specializes in Mint Hill NC, Matthews NC and Charlotte NC real estate

Friday, November 27, 2009

Sell my House--Charlotte NC

There is a difference between a house and a home.

You live in your home and it's a place you love. It's probably warm and cozy. A place where you and your family spend lots of time.

A house though is a commodity, a business transaction, see the difference?

You must remove yourself from all emotional attachments when you are selling your home. You must depersonalize it... Remember you're trying to sell it, market it and move on---maybe a new HOME..

See the difference?

Want more info?

Call, email or text me and I'll show you how we can sell your House.

Rich Ferretti is your Mint Hill NC Relocation specialist.

Thursday, November 26, 2009

Why won't my home sell?--Charlotte NC

Ever wonder why some homes sell and others don’t

Marketing and Exposure

People ask me all the time the same question.

It’s simple really.

This is what I do for my clients.

  • Professional Photos
  • Virtual Tour
  • Color Brochures
  • Staging consultation
  • Give you a Home Warranty that is transferable to the Buyer ( I pay for this )
  • Open Houses—promoted on the Radio (WBT 1110am)
  • Caravan, every agent in our office will visit your home
  • I listen to you and understand your Goals

This is just a sampling of my marketing plan. I do not List and Run.

If it’s your goal to sell your home, then it’s my goal to make it happen. Simple!!!!

Rich Ferretti is a 20 plus year veteran in Real Estate.
Want to make it happen, then call me. Don't waste anymore time.

Rich Ferretti is your Mint Hill NC Real Estate specialist covering the greater Charlotte NC Real Estate Market. Specializing in Mint Hill NC, Matthews NC and the surrounding area.

Sunday, November 22, 2009

Buying a Home? You Need an Agent!

So many people make the same mistake: Not using a real estate broker when buying a home.

I understand the theory - afterall, who wants to pay more on something when they don't have to? But here is the truth...a real estate agent's service is free for the buyer. The seller pays our commission. That is right! A real estate agent is FREE to the buyer. And with this free service comes a bunch of seriously VALUABLE benefits--things that may be priceless in the end, like honesty, experience and professionalism.

Home buyers who decide to do it on their own often do not realize they are NOT represented and actually trust the seller to give them all info they need. This is WRONG! So many times a seller and their agent (or just the seller if the home is For Sale by Owner), will gloss over or withhold information to the buyer. Whether this is intentional or not, the buyer is left to trust whatever the sellers tell them about the home, property, area, & neighborhood. The un-represented buyer does not have the benefit of an agent who knows the area, the school districts and the local vendors whom s/he could refer. The un-represented buyer does not have the access to the comparables for the neighborhood, or homes that are going to be, (but aren't yet) listed in their dream neighborhood. And an un-represented buyer does not have the experience of offering just the right price on the home.

There are several other great reasons for having a buyers agent, but I want to hear from you. Have you ever bought a house WITHOUT an agent and been sorry? Or, what do you think the best thing was that your buyers agent did for you when you were buying your home?

Let me know -- I would love to hear your stories.

--Rich Ferretti
Looking for more information about the Mint Hill, Matthews and Charlotte area real estate market?
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Saturday, November 21, 2009

How to choose a Real Estate Agent.

People often ask me—how do I choose a real estate professional.

There really is difference between Real Estate Brokers and Agents.

People like to do business with professionals they know, like and trust. When I first meet a client, I establish a relationship. Once they get to know me it’s much easier to work with someone. You must be honest and trustworthy. I always offer my clients a list of present or past clients or direct them to my web site and they can read the testimonials.

Then it’s down to the nuts and bolts. What services do you offer and how will you market my house. Here’s a list of services that are always provided. Not sometimes—Always.

This list helps clients distinguish the differences in commitment and dedication

Compare the services I give to my clients. Then ask your agent, how they propose to market your house. Don’t get caught with a “List and Run” attitude.

When you list your home with me I always provide the following:

  • First of all I purchase a home warranty for you ($385 value), yes “I” pay for that
  • Next, I bring in the professionals
  • Full professional color pictures.
  • Virtual tour set to music with full details about your home.
  • Your home will receive a personalized web site if available
  • Posted on all the Major Web sites
  • Blue print is created of your home with measurements
  • Full color brochures for prospective buyers
  • Open House that is promoted and marketed on WBT radio
  • Home is featured on
  • Virtual tour is promoted on Facebook, Twitter, Saw it on line and Postlets Portals
  • The entire home tour with full details is sent to my client data base including other realtors, mortgage lenders, investors and my preferred contractors.

So now you know ---there really is a difference.

Get the facts---Make the right choice.

It’s all about helping you attain your goals.

Call or email me today.

Let’s sell your house today.

Rich Ferretti is a Charlotte NC real estate professional. Rich has been helping people home for over 20 years.

Shouldn't you have Rich Ferretti on your side. Of course you should!!!!!

Call Rich Ferretti 704 564 0807

Real Estate Market Update

RISMEDIA, November 21, 2009—Trulia, Inc. has announced that 25.6% of homes currently on the market in the United States as of November 1, 2009 have experienced at least one price cut during the past 12 months. More than 40% of the top 50 major metros across the U.S. are experiencing price reduction levels above 30%, significantly higher than the national average. The average discount for price-reduced homes continues to hold steady at 10% off of the original listing price.
Read more:

Here's a great article regarding the National Housing Market.

Rich Ferretti is your Mint Hill NC Real Estate Specialist.

Rich Ferretti focuses on the following market

  • Mint Hill NC Real Estate
  • Matthews NC Real Estate
  • Charlotte NC Real Estate

There really is a difference between agents, put Rich Ferretti to work for you.

Call Rich Ferretti at 704 564 0708

Tuesday, November 17, 2009

Home Ownership: The American Dream!

A lot of people talk about the monetary reasons to be a first time home buyer. They should, those are great reasons! (And don't forget the first time home buyer tax credits!) Home ownership is a great investment, no doubt about it. But today, lets talk about the great non-financial reasons! Those little things that make the “Rent vs. Buy” equation tip over to “BUY!” While these reasons won’t pad your pocketbook, they will help contribute to a general sense of happiness and considerable peace of mind…Which, is priceless!

You are Finally, a Responsible Adult!
Mom & Dad can’t accuse you of being an irresponsible slacker anymore! First time home ownership is a tremendous hurdle, and pretty much one of the biggies! Along with having kids and getting hitched, home ownership says “I’m a grown-up!”

My Stuff! Isn’t it nice?
When you rent, you’re basically a transient. You know you’re probably not going to be there forever, so you probably don’t take care of the place all too well. (Hello – Security Deposit). Your also not to keen on doing any unneeded repairs, or sinking any money into remodeling. But when you own the joint – it’s yours! You want it to look nice--you take pride in your home. From the furniture to the floors, including the appliances – this stuff is yours, and you will buy it and treat it well.

Being Neighborly
Renters sometimes try to avoid their neighbors. But home owners try to make long-standing relationships with their neighbors. Your neighbors will lend you tools, sugar, and a hand when you need it. They will watch your house when you go on vacation, and feed your cat when you have an emergency. Neighbors are in it together, they are a “family.”

Staying Put!
Most of us hate moving every year or so. It’s awful! And now you don’t have to – you get to stay here forever and ever! (or until it is time to upgrade, or move into a better school district). It's time to plunk down some roots, get cozy, and settle in for a long haul.

And finally….It’s All Yours!
It is that simple – it’s your home. You can do whatever you want with it (well under certain circumstances…). And frankly, that is the greatest reason. Home ownership is empowering, enlightening, and incredible. You will never, ever, regret it….

Rich Ferretti - ABR QSC Epro
Jamison Realty
Broker/Realtor, NC/SC

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Saturday, November 14, 2009

Charlotte NC and the Tax Credit

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Thursday, November 12, 2009

First Time Home Buyer Tax Credit Extension

Home Buyer Tax Credit Extension Information
Rich Ferretti
Broker/Realtor, NC/SC ABR, e-PRO
Jamison Realty
The Home Buyer's credit started last February as part of the Obama administrations massive economic stimulus bill. Originally it was supposed to expire on Dec.1, but thanks to overwhelming interest - it has now been extended to home purchases that are entered into agreement before May 1, 2010, and closed before July 1, 2010.
The original credit amount for a "first-time home buyer" remains at 10 percent of the purchase price, up to a maximum of $8,000. A first-time home buyer is defined as someone (or a spouse) who has not owned a home in the last three years. The credit was phased out for singles with Adjusted Gross Income (AGI) of $75,000 and married couples with AGI of $150,000, but the new law increases the phase outs to $125,000 and $225,000, respectively.
In addition to the extensions of the credit for first-time home buyers, the new law allows for a tax credit for home buyers that already own homes. A new credit of 10 percent of the purchase price, up to $6,500, is available to buyers who have lived in their present homes for 5 consecutive years of the past 8 years. This credit is meant to spur on "move up" buyers.
I am sure you are wondering what, if any, limitations exist. The credit, whether used by a first-time home buyer or a long-time resident home buyer, applies only to primary residences, and the purchase price must not exceed $800,000. The new law also extends the deadline for U.S. Armed Forces members deployed outside the U.S. There seems to be general consensus that this law will not be extended again. So break the piggy-bank open and make that move to home-owner status NOW!
If you live in the Charlotte, Mint Hill or Matthews aream and are looking for more infoermation on how you can take advantage of this great opportunity - cantact Rich Ferretti at 704-564-0807
Charlotte's Custom Home is here for you. Feel free to comment below if you have any questions about your custom home, or email us at and we will make sure you are connected with the right custom home expert.

Posted by Charlotte's Custom Homes at 10:47 AM

Labels: first time home buyers, home buyers, home in charlotte, Rich Ferretti


Anonymous said...

This is fantastic news. Rich you have always been there for us.
John and Berta

November 12, 2009 11:58 AM

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Charlotte's Custom Homes is here for you! Our mission is to provide residents and newcomers to the Charlotte, North Carolina area, the information they need to make informed decisions abut the purchase, decorating, furnishing, upgrading and even selling of their home. We seek to be a resource and a forum and welcome your feedback, questions and contributions.

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Rich Ferretti is your Mint Hill NC, Matthews NC and Charlotte NC real estate professional.

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Wednesday, November 11, 2009

Charlotte real estate market update

Local Market Update from Rich Ferretti

Great News!!! It's official !!   President Obama has signed a bill that extends the tax credit for First-Time homebuyers into the first half of 2010.  This program had been scheduled to expire on November 30, 2009.  In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.

So Who Gets What?
The program that has existed for First-Time Homebuyers remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.  Additionally, the program now gives those who already own a residence some additional reasons to move to a new home.  This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

Higher Income Caps in Effect
The amount of income someone can earn and qualify for the full amount of the credit has been increased.

  • Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

  • Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.

Let Me Help You!

  • Need help finding your dream home?  Just tell me what you are looking for and I will search all of our sources and provide you with a convenient report of all the properties that you may be interested in, complete with photographs of the properties and detailed neighborhood information.  Now IS the time to BUY!!

  • Are you renting and not sure if you should consider buying a home or not? Let me assist you in determining if the right choice for you is to Rent or Buy!

  • Would you like to know the current value of your home, your potential net proceeds, and the benefits of buying or selling now? I would be glad to provide an analysis for you. Let me help you decide if now is the time to make a move!


In the local Charlotte Housing Market, residential contracts reported for September 2009 were up 4.4% over September 2008.  Below are the highlights of our area's monthly statistics.  If you scroll down, you can see all the detailed charts.

August 6 - September 5, 2009 September 6 - October 5, 2009

Contracts Reported                         2434                                                2199            

Closings                                          2221                                                1945

Avg. Listing Price                        $234,504                                           $219,925

Avg. Closing Price                       $209,245                                           $196,760

Avg. Days for List to Close             145.9                                                142.6         

Total Active Listings                      27,878                                              27,580

If you would like a Market Analysis on your property to see how the value has changed, please let me know.  You can also sign up for the Market Snapshot report on my website. The report will be emailed to you monthly to ensure you are knowledgeable about the activity in your neighborhood.  Just go to and fill in your information within the Market Snapshot box on the right hand side of the page, then click the Next button.  You can also search for any properties in the MLS from my website. 

Whether you're buying a new home in Charlotte, investing in property or selling a house, feel free to contact me, and I will be happy to help you with all of your real estate needs.

Scroll down to see the full report.


Sales Trends Graphics Should be here - Pg 1

Sales Trends Graphics Should be here - Pg 2


Home Sales Contracts Rise for Record Eight Straight Months
The number of signed sales contracts to buy homes rose in September for the eighth straight month, according to recently released data from the National Association of REALTORS®. Most analysts trace the steady improvement to the government's first-time homebuyer tax credit program, which has brought in between 200,000 and 400,000 additional sales that would not have otherwise been made.

Rules Would Help Avoid Foreclosure
The N.C. Office of the Commissioner of Banks has proposed new regulations that would stop foreclosure once a homeowner asks for a loan modification. Currently, lenders simultaneously pursue foreclosure while working with homeowners who are seeking to modify the terms of their loans, which ultimately leaves homeowners with very little time to avoid foreclosure.

Mortgage Applications Up! Rates Drop Below 5%!

U.S. mortgage applications rose for the first time in four weeks, reflecting a jump in demand for home refinancing loans as interest rates on 30-year loans dropped below 5%, data from an industry group showed on Wednesday. The Mortgage Bankers Association said rates on 30-year fixed-rate mortgages, the most widely used loan, fell below 5% for the first time in four weeks.

Helping People Home for Over 20 Years!

Rich Ferretti
Realtor/Broker NC/SC
Charlotte, North Carolina
704-564-0807 Direct

Listen to us on the Radio every Saturday from 2-3pm. WBT-Talk Radio 1110am.

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