Thursday, February 25, 2010

Qualities To Look For In A Good Realtor

The real estate world is a tough one. It’s not easy, and it requires someone who is planning on putting in some long hours. Many people jump into the real estate biz in the hopes of making a quick buck, and it is these bad apples that give the whole industry a bad name. To ensure you have a solid real estate transaction, You want to look for some of the below qualities in your next Realtor"

Perseverance – Perseverance is an absolute must. You will want a Realtor who is never going to give up or say no. You want someone who will work till they drop to make your transaction happen.

Great Attitude – A solid Realtor also needs a positive attitude. In some sales, the stress level can get out of control – and a Realtor with a positive attitude can certainly mitigate any problems.

Focus – especially on your goals - is incredibly important. Paying attention to the details, following up with buyers/sellers, developing new marketing strategies and keeping apprised of market changes will make your transaction move much more smoothly!

Communication – Your Realtor should also demonstrate some solid communication skills. They will be serving as your front man, so if they don’t know how to talk to people – you might be in trouble.

Finding the right Realtor is really key to having a great property transaction. Don’t feel bad if you have to interview a few Realtors before finding the right person to represent you. This transaction is going to be one of the most important business deals of your life…As such, you want to make sure that you have the best person for the job!

Would you like more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out
www.minthillrealty.com

Wednesday, February 24, 2010

Charlotte NC and Mint Hill NC Real Estate-- Is your listing price realistic?

Ok, so the Charlotte NC and Mint Hill NC real estate markets are slowing starting to recover—that’s a good thing right?

If listing agents do their homework and price a listing to sell and at the right price then why don’t buyer agents explain the proper offering price? I totally understand that the buyer will pay a fair price for a home but why do they feel it’s their right to try and steal a home?

I can’t tell you the amount of times I have to deal with a seller who wants more money for their home then its worth. You have to look at the numbers…. Price the home right and it will sell at a fair market value.

This brings me to another point and I use this for all my listing presentations.

•    It’s NOT what you want
•    It’s NOT what you need
•    It has nothing to do with what you paid
•    It’s not what your friend suggests
•    It’s not the insurance replace cost.

It’s the buyer who will determine the market value of your house. The buyer along with a GOOD buyer agent will set the price. The buyer agent has to do their home work and educate the buyer. Otherwise, buyers will put out an offering that makes no sense and that’s where we are today. Too many ridiculous offers!

I once sold a home that I priced right on at market value. Shazam….the home sold in 2 days. Under Contract, full price in 2 days. Want to guess what the wife told me-----You under priced our home. Thankfully the husband disagreed and told her, No Honey he priced it right on…….

Let’s work together and make our profession one to be proud of!!!!!!!!

Rich Ferretti is a true professional with over 20 years experience. Call me today and let's sell something together.

www.MintHillRealty.com

www.RichFerretti.com

704 564 0807

Saturday, February 20, 2010

Home Inspection: A Must!

In most states in America, there are laws to protect the homebuyer. Usually you would assume sellers must disclose any defect they know that could affect the real market value of their property. But any buyer should not imply any warranties or conditions in the home before they sign a purchase contract. Professional real estate agents are obliged by their code of ethics to disclose any defects they know about, but this does not mean your Realtor will know if there are defects.


Even if you are very sure about the property you like, it is a MUST to make your purchase contract subject to a professional home inspection report. Home inspectors will usually be well worth the investment, giving you a comprehensive report on the state of the property as well as some idea of the possible repair costs involved.

Home inspectors will help you find any hidden problems, sometimes things the buyer honestly didn’t even know about…

1) The Roof
Your home inspector will be able to make sure it isn’t going to blow off during the next windstorm, or leak during the next downpour. Along with this, their trained eye will look for ceiling stains that might indicate leaks that you wouldn’t have seen…

2) Water: Pressure and Pipes
An inspector can be the perfect stand-in for a plumber. He can make sure your pressure is right, check to see that you aren’t drinking out of lead pipes, and generally ensure you will be able to take a shower after settlement.

3) Doors and windows
Are the doors hard to close? Do they swing open by themselves or fail to open fully? What are the locks like? Then your inspector will check the windows…Are the ancient and leaking your heated/cooled air like a sieve?

A good inspector will also pay close attention to the windows for weather seal, and whether any water stains have accumulated – a probable sign of water problems during heavy rains.

4)Termites!
I don’t think we need to explain this one to you! But along with those nasty home destroyers, inspectors also have a keen eye for other pest or vermin infestation.

5) Odors
Let your inspectors be the nose that knows! Noxious odors like
Cigarette smoke and pet smells can be hard to get rid of – beyond a good dose of air freshener. If a home smells too clean -- heavy with the scent of cleaning products (especially bleach) or deodorizers – the seller may be trying to cover up a nasty odor – and that means trouble.

6) Electricity
Something often overlooked is whether the electric installation is up to proper standards. Whether the home is brand new or a historic relic, a qualified inspector will check your outlets and electric panel to ensure you will get the juice you need.


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

Monday, February 15, 2010

5 Reasons You Need a Realtor

“Why do I need a real estate agent?” YES!

1.A real estate transaction is COMPLEX! Whenever you buy or sell a home, you are going to be drowning in a sea of paperwork. It can be overwhelming and daunting. A Realtor will be there to help you dot all the “I’s and cross all the “T”s.

2. Time is money! Your money! Selling or buying a home is time consuming. You need someone working on the project full-time. Someone who is doing the groundwork, marketing the place, and networking to get your property out there.

3. Trust me, there is a language barrier! Real estate has its own unique language, and it’s even harder to understand then Greek. Don’t forget that the real estate community comes with its own customs too…In fact, it’s a whole ‘nother world! Your real estate agent – at minimum – will at least be your guide through this wild and wooly land, and will make sure you know everything about the property.

4. A good real estate agent will bring with them experience, and resources. This is not their first time at the rodeo either…The have bought and sold more houses then you will probably ever live in. They know the scams, they know the tricks, they know what to do…

5. Your Realtor can be a sounding board, an impartial observer, an objective commentator, and a wise sage. Your Realtor can help you deal with things logical during what can sometimes be a very emotional process. They will act as your aid and your ally, and can sometimes be the only person who truly knows what you are dealing with….Real estate transactions are heavy loads, and you will be glad to have an extra set of hands.


Would you like more information about the Mint Hill, Matthews and Charlotte area real estate market? Check out www.minthillrealty.com

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

Wednesday, February 10, 2010

$ 8,000 Tax Credit Is Still Going Strong!

Well kids, you still have time to get one of the greatest gift from Uncle Sam! A new Senate proposal will offer a first time home buyer an $8,000.00 tax credit. This program has been widely popular, and this is probably the final extension. You can take advantage of this up to April, as long as you are under contract by April 30, 2010. The former deadline was November 30, 2009 – but the program has proven so popular that the government has kept things around for a few more months…. Single taxpayers with incomes of up to $125,000 and married couples with incomes up to $225,000 are eligible to receive the full tax credit.

Current Charlotte Homeowners looking for a replacement primary residence can also qualify for a $6,500 (up to $3,250 for a married individual filing separately) under the new “long-time resident” provision. They must have lived in the same principal residence for a five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. (Shew!) This new provision also only applies to homes purchased after Nov. 6th 2009.

The IRS has stepped up compliance checks involving the home buyer credit for those with past homes and they must provide a mortgage Interest Statement, Property tax records or Homeowner’s insurance records, to prove compliance with past residency criteria.

To get into the fine print – if you plan on claiming the new home buyer credi… For qualifying purchases, taxpayers have the option of claiming the credit on either their 2009 or 2010 return. A new version of Form 5405, First-Time Home buyer Credit, is now available on the IRS website. Taxpayers claiming the credit on their 2009 returns, will not be able to file electronically because of the added documentation requirements, but instead will need to file a paper return by using the new version of Form 5405. A taxpayer who purchased a home on or before Nov. 6 and chooses to claim the credit on an original or amended 2008 return may continue to use the current version of Form 5405.


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

Saturday, February 6, 2010

Rich Ferretti's Real Estate Update

Rich Ferretti's Real Estate Update

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

Charlotte NC Real Estate Update

February 2010 Charlotte NC Real Estate Update

All the latest Real Estate News

Rich Ferretti, Your Charlotte NC Real Estate Specialist.

Mint Hill NC Brick Ranch

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  • Just listed
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  • Very Large Lot

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Large back yard and wonderful screened porch

Don't miss this opportunity to live in MInt Hill.

Call Rich Ferretti today for all the details

Rich Ferretti your Mint Hill Specialist

Mint Hill NC Homes and Mortgage update

)—If you have a good job and good credit, the next few months might be a good time to go house hunting. Fence-sitters take the risk that Congress may let a rich tax credit expire, and that interest rates may rise. Buyers and sellers should consider the following factors as they consider jumping into the housing market.

-Mortgage rates are blissfully low, and that may not last. The rate on a 30-year mortgage averaged 5% last week, according to Freddie Mac. Rates are low in part because the Federal Reserve has been buying up about $3 trillion in mortgage-backed securities and mortgage agency debt. The aim is to hold down interest rates and keep mortgages available. But the Fed is slowly removing that financial crutch as the economy improves. It has no plans to buy any more past March 30, 2010. The likely result is an uptick in rates. Meanwhile, the recovering economy by itself should raise rates as the year goes on. Economists at the Mortgage Bankers Association expect to see a 6.1% rate by year end. Such a rise would add about $104 to the monthly payment on a $150,000 mortgage

For more information contact

Rich Ferretti

Mint Hill Real Estate Specialist

Friday, February 5, 2010

Don’t (Necessarily) Say No To A Foreclosed Home - and other reasons to BUY NOW!

Sometimes during our search for real estate in the Charlotte area, we might overlook foreclosed homes--since there are so many great properties available. The forclosure seizure often leaves a stigma on these properties, but one that is fairly misunderstood. Foreclosed homes are often in just as good of condition as any other home on the market. But the benefits of buying a foreclosure home have never been better, thanks to two major factors. Home prices are at record lows and rare government incentives are available for a limited time…But neither factors will last forever!

Record levels of foreclosures hitting the market at the same time in Charlotte is keeping their prices low, and dropping. While their isn’t much wiggle room or bargaining with these properties, they are always deeply discounted… Many at a rock bottom price, and they probably won’t last, so consider buying now. The economy is already beginning to rebound, and the foreclosed homes will not stay on the market for long.

Now to the tax credit…The foreclosure tax credit gives buyers of foreclosed properties a $7,000 tax credit. This credit is to be divided equally between the two years following the home’s purchase. (For married couples filing separately, the credit will be divided into $3,500 per person.) One catch is that the credit is only available for real estate bought as your principle residence – not as investment property. You’d have to use the home as your home for the 24 months following the purchase date in order to receive the full $7,000 credit.



Would you like more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out
http://www.minthillrealty.com/

Monday, February 1, 2010

What is the FHA?

WHAT IS THE FHA?


The FHA (Federal Housing Administration) is an agency within HUD (Housing and Urban Development--a cabinet of the United States), and was established in 1934 to advance opportunities for Americans to own homes. By providing private lenders with mortgage insurance, the FHA gives them the security they need to lend to first-time buyers who might not be able to qualify for conventional loans. The FHA has helped more than 26 million Americans buy a home.

The FHA does not require perfect credit or a high-paying job to qualify for a loan, and also makes loans more accessible by requiring smaller down payments than conventional loans. No tax dollars are used to fund the program. Lender claims paid by the FHA mortgage insurance program are drawn from the Mutual Mortgage Insurance fund. This fund is made up of premiums paid by FHA-insured loan borrowers.

To apply for an FHA-insured loan, you must meet the credit requirements, be able to afford the mortgage payments and the cash investment, and plans to use the property as a primary residence.

If you are interested in an an FHA loan, you can apply via mail, telephone, the Internet, or video conference. There is no minimum income requirement. But you must prove steady income for at least three years, and demonstrate that you've consistently paid your bills on time.



Are you looking for more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out www.minthillrealty.com

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You can find great local Mint Hill, North Carolina real estate information on Localism.com Rich Ferretti is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

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