Friday, April 30, 2010

Mint Hill NC--Relocation/Real Estate Investors

Mint Hill North Carolina Home Search

Use the link above to search for properties in Mint Hill NC, Charlotte NC, Matthews NC and the surrounding areas.

Let me know how I can help.

Rich Ferretti, your real estate professional.

Charlotte, North Carolina Real Estate and Homes For Sale

Searching for Charlotte NC homes, condos, investment properties has never been easier.

Visit: Charlotte NC, Mint Hill NC and Matthews NC Home Search

Rich Ferretti is your real estate professional

Buying or Renting---what to do

The cost difference between buying and renting is as narrow as it has been since 1993, according to a study on homeownership by Marcus & Millichap Real Estate Investment Services for the Associated Press.
      The study examined rent and home prices in 45 metropolitan areas and concluded that gap between a payment on a median-priced home and median rent on a similar property is on average only $256.
      Marcus & Millichap calculated the number using median home prices for the last three months of 2009, assuming a 10 percent down payment on a 30-year fixed-rate loan at 5.07 percent.
      It factored in mortgage insurance, but didn't include either repair costs or tax benefits.

Rich Ferretti is a seasoned veteran with over 24 years of professional service to his clients.

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Rich is a Charlotte NC relocation specialist.

Using your Tax Return---brought to you by Rich Ferretti, your Charlotte NC, Mint Hill NC and Matthews NC Real Estate Professional.

Use Your Tax
Return for Good

Tax season can be a challenging time of the year. Some people wait until the last minute to file their taxes, while others file and received their funds before the mid April deadline. If if you are one of the lucky ones who get a tax return, what will you do with those long awaited greenbacks? A popular choice amongst consumers is to pay off credit card debt; another is buying something extravagant. But why not consider how your tax return can help maximize your mortgage product and your financial situation in the long run?
     Consider refinancing if you have an ARM or a high interest rate loan. Refinancing into a fixed rate and/or a lower interest rate can save you money in the long run. Why not do it now when rates are at all time lows? You can use your tax return for closing costs.
     If you are happy with your mortgage product and rate, why not use your tax return to help add the gourmet kitchen you've always wanted? Not only can you have that extra bedroom or outdoor kitchen you've always wanted, but you may also be increasing the value of your home and get more money when you are ready to sell. Let your tax return help increase the value of your home by using it to help fund a rehab loan.
     Perhaps you want to upgrade to a new home for your growing family. Your tax return can come in handy with closing costs.

Visit for all your real estate information

Pre-Qualifying for a Mortgage---Charlotte NC, Matthews NC and Mint Hill NC relocation specialist.

Pre-Qualifying for a Mortgage

One of the first steps to take as a potential home buyer is to get pre-qualified for a loan. This step helps both you and your lender learn just how much home you can afford. And you should begin this process before you even start looking for a home.

According to the Federal Housing Administration (FHA), their pre-qualification essentials include:

  • Having a steady employment history, at least two years with the same employer.
  • Consistent or increasing income over the past two years.
  • Credit report should be in good standing with less than two thirty day late payments in the past two years.
  • Any bankruptcy on record must be at least two years old with good credit for the two consecutive years.
  • Any foreclosure must be at least three years old with good credit for the past three years.
  • Mortgage payment qualified for must be approximately 30 percent of your total monthly gross income.

Other lenders' ideas regarding pre-qualification are all similar to those outlined above. A mortgage lender will look at your credit report, earnings, debts, and savings in order to see how much home you really can afford.

Why is this important? In recent years there has been a “mortgage crisis,” where the industry was rampant with fraud and with loans that put homeowners into situations they could not afford. As payments rose, homeowners found themselves unable to meet their monthly obligations. According to and their U.S. Foreclosure Market Report, in January 2010, one in every 409 households in the country had received a foreclosure filing.

Since pre-qualification for a home loan typically costs you nothing, but gives you both a goal of what homes are in your affordability range, as well as how much money you should look to have saved for a downpayment, you can hardly wait to take this step.

What if the home you want is out of your reach? Experts recommend reducing your debt and saving up a larger amount for your down payment. Let's say your dream home is $225,000, but you only qualify for a $180,000 loan. If you have a downpayment of $45,000, then you are ready to make a move!

During the pre-qualification process, you will be expected to provide the following information:

  • your gross monthly income
  • your total monthly payments (car payments, credit cards minimums, child support payments, student loan payments, any other monthly debts)

The lender will be looking to see that your debt to income is below about 40 percent, and the lower the better. So, if you are looking to buy in the near future, be sure to talk to your lender soon!
Written by Carla L. Davis

Wondering What Your Home Is Worth? -- Let me show you.

Eco-Friendly Home? Brought to you by Rich Ferretti, your Charlotte NC, Mint Hill NC and Matthews NC real estate professional.

Have an Eco-Friendly Home? Make Sure Buyers Know It

In tight real estate markets one sure thing is that sellers have to highlight the finest qualities of their homes. Yet, sometimes the very benefits buyers might be interested in are overlooked.

Sometimes sellers forget to mention important upgrades and other times the listing services used make it difficult for buyers to search for green properties. While statistics show that buyers won't necessarily chose an eco-friendly home over a standard one simply because it's green, they can be influenced to purchase the former if the home will save them money. There are a few areas of a home that can really help save money, but the sources of the savings are hidden in the walls and roof. "Insulation is relatively inexpensive for the return on investment. You will save the most money by doing a lot of insulation in your house," says Steven Mark Design Consultant at Marrokal Design & Remodeling.

The San Diego-based remodeling company uses green materials like recycled blue jeans that are turned into insulation as well as special roofing to help lower the energy costs by allowing heating and air conditioning systems to work less to keep the home comfortable.

"On our roof sheathing we're using a special plywood that has a little layer of metal in it that reflects the UV rays before they go into your attic," says Mark. He says by using this special radiant barrier plywood the attic will be considerably cooler. "The attic is going to be 20 or 30 degrees cooler in the summertime which then means the insulation and air conditioner and everything else you need to get your living space to a comfortable temperature is now reduced," says Mark.

Of course, buyers should be told about all those energy-saving appliances that you might have installed over the years. For instance, say there are two decades-old homes on the market, but the first houses old appliances and the second features new energy-saving appliances. The upgrades in the second home are a distinct advantage that should be made very clear to buyers. While this seems obvious, sometimes sellers neglect to mention all the perks.

Remember, the things that aren't always visible can save a surprising amount. Tankless water heaters, for example, are becoming more in demand. That's probably because you can have as much as 30 percent savings of a normal utility bill using a tankless water heater according to Dennis Hargraves of El Cajon Heating & Plumbing Supply. Additionally, consumers can get big rebates.

"Tankless water heaters … they can get up to 60 percent of their installation and cost of the heater it could be up to $1,500 in rebates or tax credits," says Hargraves.

Special water-saving shower fixtures and low-flush toilets can also be enticing to buyers. If you haven't already installed them, consider replacing an old toilet with a more efficient one. Also, don't worry about the low-flush not being effective, Hargraves says the functionality has greatly improved; no need for double flushing. Plus, there's incentive to install them.

"There are vouchers available so a customer can receive up to $50 to $100 per toilet by going to the 1.28 flushes versus the others," says Hargraves.

It's a good idea to keep a three-ring binder to help you remember all the upgrades and eco-friendly additions when it comes time to sell your home. Be sure to include the sales receipts, product warranties, operating instructions, and any other pertinent notes into the binder. Don't forget to review the material in your binder so that you're prepared to highlight your green improvements when you meet with your real estate agent.
Written by Phoebe Chongchua

Wondering What Your Home Is Worth? -- Let me show you.

Market Update--all the news you can use....brought to you by Rich Ferretti, your Charlotte NC, Mint Hill NC and Matthews NC Real Estate Professional.

The Inside Edge
The market commentary material provided is from a third party vendor, MBSQuoteline. This information is intended for educational purposes only and should not be construed as investment and/or mortgage advice. Additionally, the material is deemed to be accurate and reliable, but there is no guarantee it is without error.

Fed Statement Little Changed
With a Fed meeting, Treasury auctions, and major economic data on this week's schedule, investors were watching closely for unfavorable news. In the end, there were no major surprises. Little changed in the Fed statement, auction demand was at average levels, and the economic data was generally close to expectations. The biggest influence on mortgage markets turned out to be turmoil in Greece, which caused investors to seek the relative safety of US bonds, and mortgage rates ended the week a little lower.
The economic troubles of Greece have been in the news frequently in recent weeks. Its ability to recover from significant budget deficits and to pay its debts has been questioned. The European Union (EU) and the International Monetary Fund (IMF) are working on a bailout package for Greece to allow enough time for the country to stabilize. Despite the coming assistance, though, the debt of Greece was further downgraded on Tuesday. In addition, investors grew more concerned that other smaller European countries will reveal similar problems. As a result, investors shifted funds to safer investments, including US Treasuries and mortgage-backed securities (MBS).
Prior to Wednesday's Fed meeting, it had been reported that support was growing among Fed officials to begin sales of mortgage-backed securities (MBS) from the Fed's portfolio. The Fed statement made no reference to MBS sales, however. As expected, the Fed made no change in the fed funds rate. The statement described the economy in slightly more positive terms. Otherwise, it was very similar to the prior statement. The Fed retained the "extended period" language regarding the fed funds rate. In short, nothing in the statement caused investors to alter their outlook for Fed policy.
Also Notable:

  • Q1 consumer spending increased at a 3.6% rate, the highest level since early 2007
  • The MBA weekly purchase activity index rose to the highest level since October
  • One Fed official again dissented on the vote to hold the fed funds rate steady
  • Fed Chief Bernanke strongly urged lawmakers to reduce the budget deficit

Jobless Claims

Average 30 yr fixed rate:

Last week:


This week:


Stocks (weekly):







Week Ahead
The biggest economic event next week will be the important Employment report on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Before the employment data, Personal Income and the ISM manufacturing index will be released on Monday. Pending Home Sales, a leading indicator for the housing market, will come out on Tuesday. ISM Services will be released on Wednesday. Productivity, Construction Spending and Factory Orders will round out the schedule.

Brought to you courtesy of 

MBS Quoteline

Saturday, April 24, 2010

Home Buying Mistakes-Rich Ferretti- Charlotte NC

Top 10 Home Buying Mistakes

Buying a home is perhaps the most arduous, expensive and, ultimately, valuable acquisition you'll ever complete

Just one mistake could mean disaster -- perhaps the worst mistake you'll ever make.

In order to avoid titanic trip ups during such a trying transaction, buyers should get to know the most common home buying blunders.

To know them is to avoid them.

  • Going solo: Buying a house is a complex transaction. It should be a team effort. You'll need a REALTOR®, lender, inspector, insurer, perhaps a lawyer, and other team members to help you through each step of the way. Team build before you start the search.
  • Love at first sight: If you believe in fairy tales you probably shouldn't be buying a home. You won't live happily ever after if you emote your way through the home buying process. Your home should fit your real needs, not your yen for drama. Buy a home that fits your budget and your lifestyle. Be sure the home is in a community and neighborhood you desire. Visit neighborhoods several times before you buy to check out schools, noise and traffic patterns.
  • 'Loanless' shopping: Being pre-qualified gives you a general idea of how much you can afford to borrow. It's better to be pre-approved for a given loan. Sellers will take you more seriously. You'll stay on budget.
  • Overbuying: Home buyers buying more than they could truly afford, in part, led to the collapse of the housing market. Buy more than you can afford and your dream home will become the same nightmare. Analyze all your monthly costs including debts, food, transportation, entertainment, and savings. Your total monthly debts, including your mortgage, should not exceed 36 percent of your income before taxes. Don't forget to budget closing costs (often two to five percent of the home's purchase price), plus moving, redecorating and maintenance. Look ahead and allow for increases in ongoing expenses such as utilities and taxes.
  • Misplaced trust: You are engaged in what's likely your most valuable acquisition ever. It's a business transaction. Ask family, friends, co-workers, professionals and others you trust for referrals, but don't take their word for it. Vet your team members.
  • Accepting oral agreements: Get it in writing. The rate lock, the home inspection, disclosures, the contract. Always. Should a dispute arise, you've got the details documented.
  • Skipping the fine print: Understand what's really in any document before picking up a pen. Get documents in advance, take time to read them and ask questions. Get copies of your mortgage and closing papers a few days ahead of closing.
  • Forgetting or betting on resale: Avoid buying a home that costs 50 percent more than neighboring homes. Reconsider buying the most expensive home on the block. Neighbors' lower home values will weaken yours. Buy intending to flip your investment only to have the market fail means when it's time to sell your price may not cover your costs.
  • Making an unconditional offer: Protect yourself with these contingencies:

    1. Mortgage financing: You may be preapproved but is the house? A formal appraisal confirms -- or not -- that there is sufficient value in the home to warrant the loan. If the house appraises lower than the sales price, the loan may be declined.

    2. Inspection: Never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.

    3. Insurance: Confirm you can get adequate insurance coverage. In some areas, or following certain disasters, it can be difficult to get types of hazard insurance.
    Written by Broderick Perkins

    Wondering What Your Home Is Worth? -- Let me show you.
  • Charlotte NC - Mint Hill NC Real Estate News you can use.

    Confused by what's happening in the Charlotte NC Real Estate Market?

    Relax, here's all the news you can use

    Charlotte NC Real Estate Update

    The Charlotte NC, Matthews NC and Mint Hill NC real estate market continues to improve providing buyers a great market to purchase a home. Prices are starting to balance..

    Don't miss the opportunity to purchase a home in the Charlotte, Matthews or Mint Hill NC real estate market.

    Rich Ferretti is a professional with over 20 years experience.

    Call, email or text Rich today at 704.564.0807

    Tuesday, April 20, 2010

    Charlotte NC Real Estate Market

    Number of Delinquent Mortgages Declines

    The number of delinquent mortgages declined 8.6 percent in March, says LPS Applied Analytics, which tracks the performance of loans for investors. Totals also declined in February.
    The biggest decline was in loans more than 30 days past due, which are now at about the same level as they were in spring 2008.
    "We're not out of the woods, but this appears to be a turning point," says LPS Applied Analytics President Ted Jadlos. "This is the first time we've seen improvement across all stages of mortgage delinquency."
    Source: The Wall Street Journal, Ruth Simon (04/19/2010)

    Bringing you all the news you can use.

    RIch Ferretti is your Charlotte NC Real Estate Professional.


    Mint Hill NC Real Estate -- Oxfordshire Community

    Large home that features:

    • 4 Bedrooms (1 on main floor)
    • 3 Full Baths (1 on main floor)
    • All brick home
    • Cul de Sac Location
    • Open floor plan
    • Screened porch
    • Large lot
    • View on


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    Mint Hill NC, what a wonderful place to call home. Mint Hill NC where Mayberry meets the 21st century.

    Rich Ferretti is your Mint Hill Real Estate Specialist.

    Sunday Open House from 1 to 4===Charlotte NC Townhome priced at $88,500

    Who do you know that is looking for an all brick townhome, end unit that has been recently painted and offers a very private court yard. This home is off Sharon Road West and close to Park road. It also allows you to walk to the New Light Rail System.

    8048 Regent Park- Lilliah Moseley 002

    • All Brick End Unit
    • 2 Bedrooms
    • Very private Courtyard
    • Pool
    • Close to transportation
    • Restaurants
    • Close to Light Rail System

    To learn more about this property call Rich Ferretti, your Charlotte NC real estate professional.

    Charlotte NC Real Estate Market Update

    Charlotte Regional Realtor® Association reports
    residential real estate monthly activity for March 2010

    CHARLOTTE, N.C. – Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data.  The number of closings for March 2010 (1,900) was up 13.7 percent over last March 2009 when closings totaled 1,671.  Closings increased 36 percent over last month (February 2010) when closings totaled 1,397.  The average sales price for March 2010 ($197,564) was up 3.2 percent over last year’s average sales price ($191,433), and is up by 3.3 percent over February’s average sales price of $191,288.  The average listing price of solds in March 2010 ($223,319) increased 3.1 percent over last month’s average listing price of $216,605 and is up 3.3 percent over the average listing price for March 2009.

    The residential pending contracts figure reported in March 2010 (2,498) was up 23.2 percent compared to last March 2009 (2,028), and is up 27.8 percent over last month.

    “First quarter has started out strong, with March statistics showing the third consecutive year-over-year gain in closings.  With pending contracts up substantially for a second consecutive month, Realtors® are optimistic that these indicators will bolster consumer confidence. However, inventory is increasing and we need this trend to continue in order for the inventory to decrease.  Nonetheless, consumers appear to be taking advantage of the homebuyer tax credit, which is due to expire at the end of the month,” says Lyn Kessie, 2010 association and CMLS president.

    New residential listings in March 2010 totaled 6,147.  The average number of days a property was on the market from the time it was listed until it closed (list to close) was 144.9, which is nearly nine days less than last month.  The average number of days a property was on the market (days on market), excluding the days the property was off the market or pending, was 118, or nearly unchanged compared to last month.

    For more residential-housing market statistics, visit the association’s Web site at and click on “Community Data.”

    For more information regarding the Charlotte NC Real Estate Market, MInt Hill NC Real Estate and Matthews NC Real Estate Market call or email Rich Ferretti. Rich is your Mint Hill NC and Matthews NC Real Estate professional, specializing in the Charlotte NC real estate market.

    Friday, April 9, 2010

    Market Snapshot


    Charlotte NC Real Estate SNAPSHOT






    After several requests for more housing data covering the Charlotte NC, Matthews NC and Mint Hill NC real estate markets we are proud to present our Charlotte NC Real Estate Market SNAPSHOT.

    I look forward to your feedback regarding our new program. If you would like to receive this in your inbox, please email me with your name and email address.

    Email your request to and enter SNAPSHOT in the subject line.


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

    Thursday, April 8, 2010

    Virtual Tour # 60185 - 5617 Sugarcane Ct, Mint Hill, NC, 28227. Powered by FloorPlanOnline

    Virtual Tour # 60185 - 5617 Sugarcane Ct, Mint Hill, NC, 28227. Powered by FloorPlanOnline

    Rich Ferretti just listed this beautiful 4 bedroom 3 full bath all brick ranch home in lovely Mint Hill North Carolina 28227.

    Virtual tour:

    Mint Hill NC, what a wonderful place to call home. This home is located in the desirable Oxfordshire subdivion. Large lots and cul de sacs makes lots of people call this home.

    Call Rich Ferretti, your Mint Hill NC Real Estate Professional @ 704 564 0807 or visit him on the web at

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

    Saturday, April 3, 2010

    Charlotte North Carolina Real Estate Update

    Charlotte North Carolina Real Estate Update

    Click on the link above to receive the latest info regarding the Charlotte NC real estate update.

    Also visit my web site here, where you can get pricing and search for properties.

    Make it a great day


    Mint Hill North Carolina

    Mint Hill North Carolina

    Here's the latest Mint Hill NC real estate update.

    Rich Ferretti is your Mint Hill NC real estate professional.

    Want to know why your friends and neighbors call Rich Ferretti for all their Mint Hill NC Real Estate needs?

    Because Rich gets it done! Period.

    There really is a difference...

    Mint Hill NC

    Union County North Carolina

    Union County North Carolina

    Here's the latest Union County NC real estate update.

    Rich Ferretti is your Union County NC real estate professional.

    Want to know why your friends and neighbors call Rich Ferretti for all their Union County Real Estate needs?

    Because Rich gets it done! Period.

    There really is a difference...

    Mint Hill NC-Matthews NC - First Time Home Buyer Tax Credit.

    Some of the more commonly-asked questions, and the answers, include:

    1. How does a home buyer claim the tax credit?

    The credit is claimed when the home buyer files or amends their federal income taxes. For qualifying homes purchased in 2009 or 2010, the taxpayer must complete IRS Form 5405 and attach a copy of the settlement statement. In most cases, the settlement statement is a properly executed Form HUD-1.

    In circumstances where a HUD-1 is not provided, such as purchasing a mobile home or a newly constructed home, the IRS will accept an executed retail sales contract (mobile homes) or a copy of the certificate of occupancy (new homes).

    2. Does the home buyer have to sell their current home in order to qualify for the $6,500 repeat home buyer tax credit?

    A home buyer does not need to sell their current home in order to be eligible for the repeat buyer credit. They can continue to own both homes, and rent or use their former home for something else, as long as it no longer serves as their principal residence. The taxpayer is required to use the new home as their principal residence, and live in it for at least 36 months, or they will have to repay the credit.

    3. Do married couples both have to meet the eligibility requirements in order to claim the credit, even if they file taxes separately?

    Both spouses must fully meet all the eligibility requirements for either the $8,000 first-time home buyer tax credit or the $6,500 repeat buyer tax credit, regardless of if they file joint or separate tax returns. However, if an unmarried couple purchases a home and only one person qualifies, the eligible person may claim the full credit.

    4. Do all home purchases need to be completed by April 30, 2010, in order to be eligible for the credit?

    There are two exceptions to the April 30 deadline. If the buyer enters into a binding contract by the deadline, they have until June 30, 2010, to complete the purchase. The deadline has been extended a year, to April 30, 2011, for members of the uniformed services, Foreign Service or employees of the intelligence community who have been on qualified extended duty outside the United States for at least 90 days between January 1, 2009, and April 30, 2010.

    For more information, visit

    Rich Ferretti is your Mint Hill NC real estate and Mint Hill NC relocation professional.

    Visit Rich Ferretti on Active Rain

    You can find great local Mint Hill, North Carolina real estate information on 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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