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/

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

Do I need a real estate agent if we build a home?

Dear Rich -

My wife and I are moving to the Charlotte area from Florida and we would like to build a new home. We have been up once before to check out the area and we would like to plan another trip within the next few weeks to look at neighborhoods. My question to you is if we are looking at buying a new house, is there any benefit to working through a real estate agent? Wouldn't it be more cost effective to work directly with the builder?

Thanks for your help on this--we have always bought pre-existing homes before and I want to make sure we make the right decision.

Bob - (Tampa transplant)


Dear Bob -

It is definitely in your best interest to have an agent when dealing building, or purchasing a new build home from a builder. Many times the buyers think they will get a better deal if they do not bring their own agent. Nothing could be further from the truth. While there are some differences in the transaction, there is much that is the same from buying from another owner: you need someone to look out for your best interests.

When you look at a planned or new development, the builder's salespeople will be very friendly and helpful. But remember, they work for the builder, and are being paid to sell you a house at the highest price they can get from you. A buyer's agent will know what can be negotiated, and give you an objective assessment of the neighborhood, homes, and construction. Additionally, a buyer's agent will be able to make sure the contract includes everything you want, and excludes any surprises. Remember, this is a 150K, 250K, 350K decision. You need professional representation from someone who understands this market, real estate and property contracts! This is an investment--so it is important to protect yourself--use a Buyer's Agent!

Best of luck with your move, and feel free to call my office ( 704-564-0807) and we can set up an appointment to go meet with some builders.



Would you like more information on new home purchases and why buyers should use an outside Realtor/Broker not the sales agent at the builder’s office? Email Rich Ferretti.

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

Buy Now! Why the Housing Crisis is Good for You.

Dear Rich,

My wife and I have been living in Charlotte or the last 3 years, and have a few more months left on our lease. We have a great apartment, but we are expecting our first baby in September and would like to move into a house. Neither of us have ever owned a house, but our credit is good and at least until our baby is born, we have 2 incomes, (although we aren't sure what the plan is yet after that!)

With the current housing crisis, and everything that is going on with mortgages, do you think that the market is good in Charlotte, and can my wife and I find a good starter home with a decent rate? Or do you think we should wait a while until things shake out a little?

Thanks!

Joe E. -- Charlotte, NC.

Dear Joe,

Here in Charlotte, we are fortunate that the housing market is still very strong, which is great! But the even better news for you, is that this is a super time for first time home-owners with good credit, to buy a home. Home prices are lower than they have been and interest rates are really good. I would say that this is definitely a good time for you to find a new home!

There are some great neighborhoods in the city of Charlotte as well as the suburbs, including some new construction in family-friendly neighborhoods. My best advice is to shop around for a good mortgage rate, and make sure to buy a house that you can afford--on one income. If your wife and you decide one of you will stay home with the baby for a year, or more, then you will have to be able to make the payments with less money than you may be able to qualify for right now. It is important to be conservative now, and upgrade later if you choose, and your incomes can support it.

Also, there are several foreclosed properties available if you are looking for a "deal." Although I certainly recommend carefully considering this route. Foreclosures are sold "as-is" which usually means that you will have several projects to do right off the bat. With a new baby coming, you might not want this added factor. But if you have some extra cash, are particularly handy, or like a challenge, or even if you buy the right property, there are some real bargains out there for the right buyer.

If you are interested in talking to me more about the available homes in the Charlotte area, please call me at 704-564-0807, or check out my site for my featured listings. Also, I would be happy to recommend a mortgage broker. Just let me know, and congratulations on the new baby!

Rich Ferretti
Buyer's Agent -- Charlotte

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

Buyer's Testimonial

To Whom It May Concern:

Rich Ferretti, of Southern Winds Realty, has asked to write a letter of recommendation on his behalf, and I am very happy to do so.

I met Rich last March when I first began looking at properties. I was immediately impressed when he graciously introduced himself with a warm and friendly smile and a firm handshake. I know that may seem old fashioned these days, but it's the little courtesies that tell you about the character of the person.

I knew instantly that Rich was a professional who took his work seriously, and I felt that I would be in good hands. Rich also took the time to learn about me and what I was was looking for in a home. He put me on his e-mail list, and every day I received listings of properties that met my criteria. Rich and I quickly established a comfortable rapport where I could call him when I saw properties that interested me. He was very prompt in returning phone calls and e-mail messages and answered my (many) questions honestly and thoroughly.

Rich and I visited a couple of homes several times, but I never felt pressured to buy or that I was wasting his time if I didn't put in an offer. He'd always say, "You're the one who has to live there!"

When I did find a home, Rich was invaluable in making the process easy. From contract to closing, Rich was on the ball organizing and coordinating and making sure everything was done right and on time. He also kept in contact with me each step of the way so that I always knew what was going on.

And Rich's services don't end with closing. He's also an excellent resource for contractors, handymen, painters, etc, and has offered advice on improvements that may increase the value of my home. I don't plan to sell my home any time soon, but when that day comes, my first call will be to Rich Ferretti. I enjoyed working with Rich.....and I think you will, too!

Sincerely,
Judith Porter
New Home Owner - Charlotte, NC

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

What Upgrades Should I Do on a New Home?

Dear Rich,

We are buying a new home in Charlotte, NC and we are not sure what upgrades we should do in terms of what will hold the most value for the house in the future. Or is it better to just add square footage to the home – adding something like another bedroom or a sunroom. Your advice is appreciated!
Sonny – Charlotte

Dear Sonny – the right answer is that there is no right answer! It depends a lot on what you do, how well you do it, and where you are in terms of location. Also, are you buying this home to live in, or is it instead an investment property? Generally upgrades to a home are more for the comfort and happiness of the residents. They rarely give the home significant additional value. That said, an updated/upgraded home may be more attractive to buyers later on when you go to sell.

If you are looking at this home as an investment, then do minimal updates to keep the house current, but don’t go wild with trendy things and extras. Think basic, clean and “blank slate.” However, if the house is going to be your home, think about what will make you happiest—Bathrooms and kitchens often add the most value, and make a house more attractive to you and later buyers and increase your quality of living—but they are also the most expensive!

I almost always recommend upgrading the carpet and the carpet padding. The builder’s grade carpeting generally wears very quickly and is of low quality. It shows stains and looks old fast. If the house was previously owned, then it is always nice to start fresh with something brand new and free of the previous owner’s dog hair, stains, dust, etc. New carpet just always makes a house look better and cleaner, and it is an easy and relatively inexpensive update. (For the record, as a real estate agent trying to sell a new home, I will often recommend that the seller put in new carpet before the house is shown!)

Other great updates are things like landscaping, a new front door, or windows—especially on older homes.

As for your question on square footage, it is always nice to have more, but be careful when you add onto a home to get all appropriate permits and hire a professional contractor. This is one of those things you want to do right—so don’t skimp. However, also don’t expect to necessarily get your money back when you resell. Depending on what you do, the other homes in your neighborhood, and your location, this may be one of those things you do because it will make YOU happier living in your home, not because you will make money off of it.

Bottom line, if you have a limited budget think about the things that will make the biggest impact for the least amount of money: carpeting, paint, moldings, windows, landscaping, closets. Then think about those bigger upgrades: the deck, sunroom, kitchen remodel, bathrooms, etc. Remember if this is your home, you have to be happy here!

Enjoy Charlotte! And please let me know if you would like my recommendations on specific trusted home improvement vendors in the Charlotte area.

Rich Ferretti

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

Old House New Home?

Dear Rich:
My wife and I have to make a choice between an beautifully updated home in an older neighborhood in Charlotte or a brand new home in a more modern neighborhood, with a ton of amenties just outside the city. The first house in the older neighborhood has almost everything I want and is much larger, but I want to make the best investment. We may have to move again in about 5 years (my job has me travelling a lot) and I want to make sure we do the right thing.

I appreciate your advice!
Shane -- Charlotte Newcomer

Hello Shane -- and welcome to Charlotte. I hope that I can help you narrow down your property choice.

If your goal is to buy a home for its later resale value and the one you are leaning towards buying in the older neighborhood, you will want to find out if is at the upper end of home values for that neighborhood--especially if it has been updated and others have not. If this is the case then it may not be the best choice.

If the older home in Charlotte is similar or lower in price to the others in the neighborhood, then there should be no problem, because pricing should be considered in relation, (generally) to the local neighborhood and not compared to homes in other parts of town.

Is the neighborhood on the decline or is it a neighborhood that is improving? And are other homeowners doing updates, keeping their properties landscaped etc. It could turn out to be a very good investment as long as you don't pay too much because of the recent improvements, when you could find another home in the same neighborhood less expensively--one that you could update yourself.

But remember that you also buy a house for its value to you as a "home." If you feel comfortable, happy, and excited about the older home, and you like the neighborhood, this is a factor of equal or greater value than its ultimate resale price. This is an investment, but it is also where you and your family will live!

If you would like more information about the Charlotte area, I would be happy to answer any questions you might have -- just comment below.

Happy House Hunting
Rich Ferretti

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