Mint Hill Memories

As a Realtor, I have had the pleasure of being able to find great clients, great homes. And over time, I get the opportunity to really get to know who these people are and get to share in their lives. I would like to tell you a story, one which is really a composite of several recent customers, but it gives you a feel for the relationships which form when you are working with a me & the great folks at Jamison:

Rebecca was a young married mother, who’s husband worked in the financial sector in Charlotte. Her husband traveled a lot, and Rebecca and their two children were left alone for several days each week. Rebecca, born and bred in New England, was a bit wary of the new-to-her-family North Carolina, and she wanted a community with security and comfort. She was looking for a home that would provide them with leisure opportunities to enjoy their fleeting family time, but also allow her to properly raise her children.

Rebecca was not a difficult client, there are no difficult clients. The young woman was new to our beautiful state, and she needed to be shown options. We worked with her over several months, before we zoomed in on a beautiful Mint Hill neighborhood. Jackpot!

Rebecca quickly fell in love with Mint Hill. Overnight, we were able to show our client a sizeable cache of homes that she not only loved, but had a tough time choosing from! The Mint Hill neighborhood with it’s small town charm but cosmopolitan citizens has the perfect appeal to families.

Now Rebecca might occasionally get a little homesick for her former New England residence, but she’s made many new friends and found a welcoming neighborhood in Mint Hill. Her kids have embraced the many recreational options available, and her husband enjoys the quiet options he and his family have when he returns from his long business trip. Their beautiful home is perfectly situated for them to take advantage of some incredible life choices, and they couldn’t be happier. If this all sounds appealing to you – then maybe you need to call us tomorrow. We still have a few homes in Mint Hill that we’d love to show you. And I think Rebecca and her family are always looking for a few more friends and playmates!

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

A Taste of Mint (Mint Hill, NC)

Are you looking for that picture-perfect town to settle down and buy a home in? We think we have a contender for you. Mint Hill is a town in Mecklenburg and Union counties, on the outskirts of Charlotte, North Carolina. Incorporated March 11, 1971 with a population of just 2,284 residents, the town has enjoyed a steady growth to its current population of about 18,000.

This quaint little North Carolina town was first settled in 1750, and over the years its comfortable growth has built an immense community spirit and pride. Community and family are important to all Mint Hill residents. Mint Hill is an active and engaged populace, with citizens able to pick from a wide selection of churches and excellent schools. But that is not he only factor that makes Mint Hill an incredible town for families. This little hamlet also has some of the state’s best recreational facilities including private and public golf courses and country clubs.

While Mint Hill is primarily a residential community, it is gifted with a wonderful business district and shopping area. Mint Hill’s merchant’s and business owners are valued members of the community, providing great services at small town prices. Small business growth in Mint Hill is also on the rise – with new restaurants, bistros, stores, and services appearing every month. Small business owners will find a supportive town and a helpful community if they are interested in setting up shop!

But back to the family…Nearly half of the households in Mint Hill have kids under 18, and nearly 3/4 s of the town is married couples living together. These are great figures for traditional families, but Mint Hill isn’t just Donna Reed’s dream-come-true…Mint Hill is progressive and welcomes all types of families, non-traditional, mixed and modern. Mint Hill has programs for single residents and single-parents, and this non-judgemental community is supportive and happy to embrace people from different lifestyles and cultures.

Let’s talk money for a minute…The median income for a household in Mint Hill is over $60K, place in the community comfortably in the middle class. This is important to remember, when thinking of the cost-of-living in Mint Hill. It is an affordable town, with people who understand the joy’s of working-hard and hard-earned money.

I’m sure you’ve got a million more questions on Mint Hill. We encourage you to take a day trip to Mint Hill, ask us question, or begin to look at properties. Even in this less-than-stellar economy, Mint Hill’s fantastic bargains and lovely homes are going fast! Let’s make you a community member soon!

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

Mortgage Rates

U.S. averages as of July 30, 2009:

30 yr. fixed: 5.25%

15 yr. fixed: 4.69%

1 yr. adj: 4.80%

View current rates

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

Tax Credit News

Did you know:

The First-Time Homeowner Tax credit can be used for a down payment on a new home -- but there are some stipulations.

Homeowners may apply a federal tax credit of up to $8,000 toward the purchase of a home with an FHA-backed mortgage, however, the tax credit can't be used to meet the FHA's 3.5 percent minimum down-payment requirement.

The tax credit can be used as an additional down payment and for other closing costs, which can help borrowers obtain a lower interest rate.

In the Charlotte area, the FHA limit is currently $303,750 for qualification for the credit. Great news, for home buyers here in Mint Hill looking to buy that first home.

Would you, or someone you know like more information on taking advantage of this limited-time tax credit, please contact me at rich@richferretti.com.

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

Tax Credit for First Time Home Buyers

As part of the American Recovery and Reinvestment Act of 2009, a.k.a. the Stimulus Bill or ARRA, first time home owners are now eligible for a tax credit of $8,000. This credit, alongside some fabulous opportunities in the market, makes it an incredibly keen time to buy. Homes in Mint Hill and Matthews are still showing excellent resale value, so buying now when the market is accommodating is a key. The staff of Jamison Realty has spent time looking over the ARRA, and has all the answers for the consumer.

The following list summarizes the eligibility requirements of this credit:

When – Home owners who purchase their house between January 1, 2009 and December 1, 2009 are eligible for the credit.

Who – The law states that the credit is available to first time home buyers. However, the law is a bit more flexible and allows anyone who has not owned a home for three years to qualify. For example, if you sold your home on May 24, 2006, you will have to close on your new home subsequent to May 24, 2009 to qualify. The closing date in this situation would make a significant difference on your wallet. It certainly makes purchasing a home in beautiful Mint Hill, NC a stunning investment!

How – You will receive the tax credit when you file your individual tax return. As part of this filing, you will need to complete Form 5405 which determines the amount of credit you will receive. The credit can be claimed on either your 2008 or 2009 tax return. If you already filed your 2008 tax return, you can amend the return to obtain the credit. And…you can buy up to the end of 2008 and still ask for the amendment. For example, say after months of looking you and your realtor finally find a home in Matthews, NC. By the time you have gone to closing with your new piece of Matthews' real estate, it is nearly Christmas. That is no problem, the ARRA bill provides for that and you can amend your 2009 return and receive the cash back. Or, you simply file it on 2009!

What – Everyone should understand that this is a credit to the tax payer, not a deduction. A tax credit is a dollar for dollar benefit to the tax payer. So a first time home buyer should be $8,000 wealthier as a result of this credit. A deduction merely decreases your taxable income. Furthermore, this tax credit does not have to be repaid to the government like the “credit” available to first time home buyers in 2008. If you have questions, the staff at Jamison Realty can provide the answers.

And - The credit shall be equal to 10% of the purchase price of the home, not to exceed $8,000. Since the median home and condominium price in Charlotte, North Carolina is significantly more than $80,000, most will receive the full $8,000 credit.

Also - Single taxpayers with incomes up to $75,000 and couples with income of up to $150,000 qualify for the full credit.


It's a great time to buy!
Rich Ferretti

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

Why Get Mortgage Pre-approval?

Dear Rich:

I am interested in buying a home in Mint Hill (I am a first time home-buyer) and I am wondering if you think it is necessary to get a pre-approval - or just a pre-qualification? My credit is good and I just got a raise in my job, so I don't know if this is a necessary step or what I would do to get this before I start the home search.

Ralph

Dear Ralph:

Starting a home search? Go into it with a pre-approval, not just a pre-qualification, for a mortgage.

A pre-qualification is a simple and informal process where you get an estimate from a bank regarding how much you will likely qualify for if you apply for a mortgage with that bank. It gives a ballpark figure, but it’s not a solid commitment. Many factors, such as credit scores and outstanding debt, may actually affect how much you’ll be approved for.

A pre-approval is a much more reliable. The bank draws up a letter pre-approving a mortgage up to a certain amount. To get that pre-approval, you’ll supply a statement of earnings and assets, and the bank will pull a credit report.

If you have a pre-approval in hand, it demonstrates you are serious. It also gives you an edge in several ways:

--> If you are one of two sets of buyers looking at the same house and making approximately the same offer, guess who usually wins? You got it! The ones who have a pre-approval typically get the house.

--> Buyers with a pre-approval often have more bargaining power. If the sellers know they have an interested pre-approved buyer, they are more likely to be open to negotiation.

--> Possession of a pre-approval can speed up the closing.

One word of caution: If any of your conditions change from the time you apply for a pre-approval to the time you go for the mortgage (such as employment status or debt load), the pre-approval may no longer be valid.

In the long run, getting a pre-approval is worth the additional time and effort.

Good Luck!
Rich Ferretti

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

Choosing the Right Real Estate Agent

Last week, a young couple asked me what I thought made a good real estate agent. They are going to be buying their first home in Mint Hill, and wanted to know what qualities I believed to be important.


Now, I have often considered which of my qualities I thought made me good at my job. I consider myself to be loyal, dedicated, experienced... But when I gave it some time, I realized that there is a lot more to what a buyer or seller will need to consider when choosing the right agent.


Here are a few things that make a good agent:


Experience: You wouldn't want to be the patient of brain surgeon who was doing his first surgery. You wouldn't want a pilot on his first flight piloting your cross-Atlantic flight. While someone has to be the first... you don't want it to be you. An agent's vast experience counts. This experience can save you time, money, and heartache. Many mistakes can be made during a real estate transaction--and an experiences agent will be able to recognize potential issues before they become your problems!



Knowledge: A good agent will know the personalities of different neighborhoods, the commute times from different parts of town, and what the school district is like. A good agent will know what other homes are available in each floor plan in the neighborhood you are interested in, and what parks or shopping are nearby. And a good agent will provide you this info before you ask for it.

Professional: Through the course of your relationship, a real estate professional will gain access to your personal information: maybe checking account balances, knowledge of your investments, debts, etc., but most assuredly what your budget and ability to buy is. This knowledge should only be trusted with someone who is a trustworthy professional.

Honesty: Honesty is something we all want from people, yet too often do not get. Your agent is working for a living, and unfortunately, sometimes an agent will stretch the truth, or out-right lie to you to get you to sign the deal. If you sense an agent is not being upfront, or in fact find that they have deceived you -- you can fire them! (see my blog about firing an agent).

References: You are entitled to ask for references. I am fortunate to get many referrals from my BNI Group, or from friends, and past clients, but if a new potential client comes to me in another way, I can always provide references. You should do your homework, and make sure others have had good experiences with an agent before you trust them with one of the most important and expensive sales or purchases of your life!



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

Mint Hill Resident: Going Green, Saving Some Green

Dear Rich,

We are about to move into our dream home in Mint Hill. It is a beautiful colonial with a big yard and lots of upgrades.

My question is that our new house is a couple years old and I would like to go through and do some energy-efficient upgrades in it. I definitely think that it is worth the investment. Can you recommend anything that I can do to my home or property to both increase the value but also become a little “greener”?

Tyler, Mint Hill, NC

Dear Tyler,

Thanks for the question - and welcome to beautiful Mint Hill!

It is always smart to upgrade to energy-efficient appliances, fixtures, etc. when you can. But I have heard from many people like you in the Charlotte area in the last few months who are looking at green ideas as well as ways to save some money. And I do have a few suggestions:

First, look for rebates and incentives. Your utility companies may post information on their websites or in the monthly bills. Be sure to check these as well as investigate federal tax credits. Look at the Tax Incentives Assistance Project, http://www.energytaxincentives.org/ to see what criteria must be met before you decide to go shopping.

Then, consider your budget. It will cost you around $500 to replace your old clothes washer with an Energy-Star certified Frigidaire washer (this includes a $50 utility-provided rebate and about a $50 in energy savings the first year). Energy-efficiency projects such as installing new Energy-Star windows or replacing a high-efficiency boiler are more expensive, but are really the few upgrades that hold their value in a down real estate market. These improvements will cut your energy bills, (and also be more attractive to home buyers in the future).

Remember to save before and after utility bills and records of purchase of any energy-efficient improvements to show the savings and value when and if you ever decide to sell your new Mint Hill home.

Best personal regards,
Rich

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

Mint Hill North Carolina, Real Estate and Homes for Sale

Mint Hill North Carolina, what a great place to call home.

Developers and builders have found Mint Hill. NC so what will the future hold? They have broken ground for the new mall “The Bridges Mint Hill” and that will certainly bring additional changes. Who would have thought you’d see sub division in Mint Hill, NC with price tags of 1 plus million? So how will this change the Mint Hill North Carolina Real Estate Market? Home prices are appreciating. For additional information call or contact Rich Ferretti at 704-564-0807 or www.RichFerretti.com or www.MintHillRealty.com



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