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

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

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

Buying a Home: The Basics

I have been working with homebuyers in the Charlotte area for a long time and I know that whether you've spent years saving and preparing to buy a home, or you're unsure if you can afford it, the questions surrounding home buying can feel endless. Sometimes other agents get caught up in all the exciting new incentives, rates, and opportunities – that they forget that not everyone who walks into their offices is an expert. I feel that part of my service to you as your Realtor is to help educate you, whether this is your first home or your fifteenth. Below are some basics, but feel free to contact me any time if you have any Charlotte area real estate questions.

Here are some tips to help you through first-time home buying:

Shop for mortgage rates and terms. A difference of even half a percentage point can mean a considerable savings over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.

Prequalify for a loan. Also early on, you'll want to get prequalified for a mortgage loan, which determines how much you can afford. It allows you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious about home buying and can afford to buy the property.

Outline what you want. The next step in home buying is to create a realistic idea of the property you'd like to buy. What features are most important to you? Make two lists: one of the items you can't live without and one of the features you would enjoy. Refine the lists as you house-hunt. It is also helpful to search online to see what is currently available on the market. Your real estate professional can then show you houses that meet your expectations.

Visit properties. Now you're ready to visit houses. Ask your Realtor to help in your home buying process by arranging showings. Be sure to keep track of the properties you've seen--it is easy to get confused and forget things if you see too many similar homes in one day, or don't take good notes. Each time you venture out to see more properties, revisit your notes to immediately eliminate any that clearly do not meet your standards.

Know the features that help or hurt resale. Did you know that in some areas, a swimming pool actually detracts from a home's value and makes it harder to sell? In neighborhoods with two-car, attached garages, a single-car or detached garage may affect the home buying prospects and future value.

Rate the houses you tour. After touring each home, write down notes about what you liked and didn't like. Develop a rating system that will help narrow the home buying field. For example, pick the house you like best on day one and compare all other houses to it. When you find a better one, use the new favorite as the standard. Avoid trying to track more than four top choices at any given time since this can quickly become overwhelming.

Make an offer. Once you've pinpointed your dream house, it's time to get serious about the financial and contractual side of the purchase. Because you and the seller have different goals, rely on your agent's experience and expertise to bring order and calm to the process - and help both parties reach a favorable outcome.

Arrange for a home inspection. After your offer is accepted, set up a home inspection. It's common to find problems, including leaky roofs, cracked walls, insect infestations and foundation problems. Your real estate professional can help find a reputable inspector, and will negotiate to get you the most for your money once the inspector's report is final. If you negotiate repairs as part of the purchase, ask for a "walk through" before finalizing the home buying paperwork. Ask your real estate expert about home protection plans, which may save you money in the near future.

Close. Before your closing date, make sure you've made all necessary deposits and completed the paperwork - including mortgage, title, homeowner's insurance and any other paperwork required by local or state governments when home buying. Your agent will be there to help you complete that closing checklist and avoid any last-minute snags. You deserve to enjoy every moment of the home buying process.

Prepare for life in your new home. Before rolling out the welcome mat, consider some moving basics: arranging for an alarm company, turning on electricity, water and gas, cleaning or replacing the carpet, and notifying your local post office of your new address. The best time for renovations is often before you move in.

Feel free to contact me any time you have questions – we not only want to sell you a wonderful home, we want to ensure the entire move-in process is seamless!

Rich Ferretti
Mint Hill, NC Realty

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

Why Use a Realtor?

The other day, I drove past two houses on the same street in Mint Hill that had “For Sale by Owner” signs out front.

I bet those signs will be there a very long time, especially in this market.

People who attempt to sell their own homes are usually doing so to save a Realtor’s fee. In a seller’s market, you may be successful in attempting to sell your own home. In a buyer’s market, it’s usually a recipe for failure-- in the high-demand area of Mint Hill. Without a Real Estate Agent, you won't have the ability to list your house in the Multiple Listing Service (MLS), meaning you don’t have a broad reach and therefore have a much smaller pool of potential buyers to balance out the many homes on the market. Additionally, a Real Estate Agent does a lot that helps to sell a house, as quickly as possible, and at the best price.

Before you put that “For Sale by Owner” sign in your yard, consider whether you’re up to these tasks:

· Doing the research to make sure your home is priced properly
· Write, schedule and run ads in local papers and real estate publications
· Produce attractive handouts for potential buyers
· Pre-screen callers to see if they’re qualified buyers
· Run open houses
· Be available days, evenings and weekends to show your house
· Listen to critical comments about your home without being offended
· Negotiate offers and counter offers
· Know when to lower the price
· Qualify buyers
· Prepare proper disclosure paperwork
· Stay on top of the buyer’s mortgage application and approval
· Be available to coordinate inspections and appraisals
· Gather all necessary buyer’s and the seller’s legal documents

There is an art and science to selling real estate, especially during an economic downturn Shouldn't you put your home in the hands of an experienced and licensed Realtor?

Rich Ferretti
Jamison Realty
Mint Hill and Matthews

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

Why Use a Realtor?

The other day, I drove past two houses on the same street in Mint Hill that had “For Sale by Owner” signs out front.

I bet those signs will be there a very long time, especially in this market.

People who attempt to sell their own homes are usually doing so to save a Realtor’s fee. In a seller’s market, you may be successful in attempting to sell your own home. In a buyer’s market, it’s usually a recipe for failure--in in the high-demand area of Mint Hill. Without a Real Estate Agent, you won't have the ability to list your house in the Multiple Listing Service (MLS), meaning you don’t have a broad reach and therefore have a much smaller pool of potential buyers to balance out the many homes on the market. Additionally, a Real Estate Agent does a lot that helps to sell a house, as quickly as possible, and at the best price.

Before you put that “For Sale by Owner” sign in your yard, consider whether you’re up to these tasks:

· Doing the research to make sure your home is priced properly
· Write, schedule and run ads in local papers and real estate publications
· Produce attractive handouts for potential buyers
· Pre-screen callers to see if they’re qualified buyers
· Run open houses
· Be available days, evenings and weekends to show your house
· Listen to critical comments about your home without being offended
· Negotiate offers and counter offers
· Know when to lower the price
· Qualify buyers
· Prepare proper disclosure paperwork
· Stay on top of the buyer’s mortgage application and approval
· Be available to coordinate inspections and appraisals
· Gather all necessary buyer’s and the seller’s legal documents

There is an art and science to selling real estate, especially during an economic downturn Shouldn't you put your home in the hands of an experienced and licensed Realtor?

Rich Ferretti
Jamison Realty
Mint Hill and Matthews

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

What is a "Short Sale"

Dear Rich,

My wife and I bought a home in Charlotte about 2 years ago and we now have to move. I was laid off last month, and I think we will have to move in with family until I am able to get a decent job put some money away. I have missed two mortgage payments already and it was hard to pay the mortgage even when I was working--we bit off more than we could chew and had no safety net...

A friend of mine recommended a "short sale." What is a "short sale" and how would it benefit me to sell my house this way?

Ben R. Charlotte

Dear Ben,

I am sorry to hear about your situation. Unfortunately, it is all too common in the current economy. But not to worry, you do have options.

A short sale may be the way to go, but this is something you will have to discuss candidly with your Realtor.


A short sale is what happens when the proceeds of a real estate sale fall short of the balance owed on the property--when the offer on the table is less than what you owe. In a short sale, the mortgage lender, (or bank) agrees to accept a discount of the balance due the current owner's financial hardship, (i.e. in the case of a lost job).

The negotiation of a short sale is done through bank's loss mitigation department, with the home owner, and often the seller's real estate agent.

The home owner is the allowed to sell the mortgaged property for less than the outstanding balance of the loan, and the bank forgives the loan in exchange for the total of the sale proceeds. In this case, the lender has the right to approve or disapprove of a proposed sale--they want to get the most they can for the mortgage, but also know that in many cases the deal offered is a good business decision.

Often the borrower will still owe some amount above and beyond the sale and the home seller will have to make this difference up.

Generally, short sales happen when there are extenuating circumstances, and the real estate market is in such a state, that the lender does not feel that they will otherwise profit, or make back their investment.

The biggest advantages for you would include avoiding a foreclosure on your credit history, and a short sale is typically faster and less expensive than a foreclosure.


I hope that this answers your questions, and my best wishes for a happier and more prosperous 2009.

Rich Ferretti
www.richferretti.com

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