Dave's Daily Real Estate Blog on Charlotte Area

Charlotte Area Boasts Top Cities To Live In North Carolina

2012-02-10T16:18:00.000-05:00

I always knew when my wife and I decided six years ago to move that Charlotte, NC. was the right destination. We did a lot of research on the area and we felt there was a lot to offer us and our family. An article i read the other day helped support this. Going through yahoo I have been following a series on the best places to live in the United States. In early January they posted for the state of north Carolina. Even though Charlotte did not make the list (no major metro area did) towns in the suburbs of the Charlotte metro area did. In fact 6 of the top 20 cities in North Carolina were suburbs of the Charlotte area. In fact, the top three cities were all suburbs within a half hour drive of charlotte, NC. Marvin, NC. came in Number one followed closely by Weddington, NC. and Davidson, NC. Mooresville, NC. pulled in at number 10 with Waxhaw at number 16 and Wesley Chapel at number 19. Coming from Connecticut and living in the outskirts of New York City I appreciate the fact that the small towns in the suburbs of Charlotte were recognized. I made the move up north to the outskirts of New york city and have done the same here in Charlotte. The article goes to prove why I tell so many people that are relocating to the Charlotte, NC. area why I think it is the greatest area of North Carolina to move to. Here is the link to the website for the complete list of the top twenty cities to live in North Carolina. Dave diCeccoRealtor/Brokerwww.davedicecco.com

The Value Of A Realtor In Pricing Your Charlotte, NC. Home For Sale

2012-02-08T08:02:00.001-05:00

In the age of technology and mathematical equations and computers; you would think there is a clear cut answer to what my house is worth. But there really is not. There are many variables that play into the equation. Some people go to Zillow and use the zestimate to get a gauge on the value of their house. While the data is compiled and sent through some formula to come up with a value on a house; it leaves out critical information along the way. The computer cannot tell if the house was in need of major repairs or was move in ready. how much work did the buyer have to do to bring the house up to the standards that most people would consider livable? These are factors that a computer cannot add in to the equation. Others look and see what similar homes in the neighborhood sell for and ask themselves if Johnny down the street is asking X for his house we should be able to get X for ours. But, just because Johnny is asking that for the house does not mean he is going to get it for his house. Another area people get misled for home prices is short sales. Because an agent has a home marketed for a certain dollar amount is no guarantee the bank is going to accept that number for the house. In fact; in most cases they want more than that for the house...it is a gauge we use to get an offer and see where the bank is willing to go on the price of the house. The only true way to gauge a value of a home is to consult with a Realtor in the Charlotte area. Ask that Realtor for a market analysis of what your home is worth. Ask them to produce data to support their claim on the value of the house. Then go and find another Realtor in the charlotte area and get a second opinion. if both Realtors are within a few thousand of one another then you have a true and accurate number as of that time for the value of your house. it is not like we have a crystal ball that tells us the value. but an experienced Realtor who knows their Charlotte, NC. market will be able to tell you that this house sold for this because it needed A,B, and C. this home sold for this because the sellers had done X, Y and Z. The same can be said for charlotte, NC. Homes that are on the market for sale. Also, is it fair to compare a resale home (one in where the seller is selling the home) versus one that is a foreclosure? Distressed properties tend to sell for less because of a lot of variables; one being it is "AS-IS ". A Realtor should be able to honestly tell you the value of your home based on what has sold and what is trending on the market right now...Only with that information can you truly make an educated decision on what to price your Charlotte, NC. home for to help get it sold in the quickest time frame for the most amount of money.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Nine Steps To Help You Locate and Purchase Your Charlotte, NC. Home

2012-02-06T11:51:00.001-05:00

As the spring approaches (it actually feels like it never left here in Charlotte, NC.) people are considering that move to either owning their first home, upgrading their home, downsizing their home or relocating to Charlotte from other areas of the country. the whole process can be overwhelming to buyers. Where do you begin? First, decide on where in the Charlotte area you want to live. Charlotte is such a large area that it encompasses different neighborhoods and style depending on a person's personal preference of lifestyle. Second, sit down and write a list of what you MUST have in your new Charlotte home and WANT to have in your new Charlotte home. Include things like fireplace, 2 car garage, granite countertops, ranch, 2 story, brick, vinyl, kitchen, hardwood floors, etc... Third, check your credit. You should be doing this at least once a year. But, request a copy fo your credit report and make sure there are nothing on it that should not be on there. Fourth, set a budget. i prefer to ask home buyers what they are comfortable at monthly. When you start looking at the online at mortgage calculators there are factors it does not take into account. Mortgage insurance, home owners insurance and it estimates property taxes and interest rates based on what you put in. By setting a monthly budget for your housing payment a Realtor in the Charlotte area should be able to back you into a price point for a house. Fifth, find a Realtor. All of the Charlotte area Realtors can show and help you buy a home anywhere in the Charlotte area. But, you are hiring the Realtor to work for you. (Do not worry you do not pay the Realtor the seller does). Interview over the phone or in person different Realtors until you find one you are comfortable with...One you feel you can trust and will look out for your best interest in the whole process. Do not sign anything committing you to the Realtor if you are not comfortable with that Realtor (you have no obligation to do that). Sixth, talk to a mortgage professional. Based on your credit report your Realtor should be able to refer you to someone they have worked with that can help get the approval process done quickly for you..... Seventh, have your Realtor send you homes and lots of them. Weed through them and pick out your top five to look at. If you look at more than that in one day you will start to forget what you looked at....Keep looking until you find the right house for YOU.. Eighth, after looking at homes ask your Realtor for the schools and check on the neighborhood online....We cannot steer a client towards or away from a neighborhood. However; we can provide you with websites and places to go to get information so you can make the best educated decision possible. Ninth, have your Realtor send you the comparable for the house you like and help advise you on a proper offer price...negotiate out the transaction and settle on a fair price for the house. Following these nine steps can help you alleviate some of the stress that goes into looking for and buying a house.... I advise all my buyers on these steps and provide then with all the information they need to make sure the decision is best for them. Dave diCecco Realtor/Broker www.davedicecco.com

Carolina Medical Center In Charlotte, NC. Nationally Recognized

2012-02-03T16:30:00.001-05:00

There are a lot of reasons people move to Charlotte, NC. One of the reasons is the medical care they can expect to receive here. Recently Charlotte, NC. medical facilities were duly recognized for their achievement and level of care they give on a daily basis. The Carolinas Medical Center was recently recognized by US News And World Report as a top ranked hopsital in the United States. After sifting through much data nationally; US News and World Report felt the hopsital earned the distinction based on it's perofrmance in a variety of specialtiy fields for adults and for it's children's hopsital.This is just another great reason why people choose Charlotte, NC. as a place to live, work and play....here is the link to the article: http://health.usnews.com/best-hospitals/carolinas-medical-center-6360280Dave diCeccoRealtor/Brokerwww.davedicecco.com

Are Schools Important When Selling your Charlotte Home?

2012-02-02T16:08:00.001-05:00

As we head into the spring selling season; I have been getting more and more phone calls from buyers out of the area looking for specific types of homes. nothing unusual with their requests... However; just about every one of them say and "we want good schools". So, are schools important? My answer is yes. Charlotte Mecklenburg Public School system is the largest one in the state of North Carolina. They have 37 schools that were recognized last year as schools of excellence and 7 high Schools were recently named among the top 1300 high Schools in the country by Newsweek magazine.... As much as we do not want to admit it; schools make a difference when you buy and when you sell your home in Charlotte, NC. Education is so important in today's worlds that parents are looking for the best deal in the best school area they can afford..... I just had a buyer who mentioned to me that they thought a home was priced low for what was inside of it. We went and looked at the house; loved it and were prepared to negotiate an offer on the house. Then they looked up online to see how the schools the house was assigned to were rated and calleed me and said they were walking away from the house becuase fo the school choices.... So, if you are looking to sell your house do some research and see how the schools fare. You can have a nice house in a great neighborhood. However; the value of the house can be greatly affected by the schools you are assigned to in that area. Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Is A Deficiency Judgement Waiver In A Short Sale?

2012-01-31T16:51:00.001-05:00

Yesterday I wrote what a deficiency judgment is and how it can be detrimental to a home seller. But you do have options available. One is to ask the lienholder for a deficiency judgment waiver.I always ask for this from the first day of negotiations. You have to; in order to ensure you are negotiating in good faith and that the bank will grant you one when you finalize the transaction.Basically, a deficiency judgment waiver states that the bank has accepted less than you owe them on the house. There remains a balance due to them and because of the sale of the house they are willing to waive the balance owed and forgive you for that amount of money.For example, I owe $200,000 on my house and the bank has agreed to accept $150,000 based on the market conditions right now. The bank then sends the approval letter over stating they will release the lien on the house as long as the sale price is $150,000. In that same letter they will state that the deficiency balance of $50,000 will be waived. Meaning you are forgiven form that debt.i talk to a lot of people about short sales and most sellers are unaware of the fact that banks can ask for that money and place a judgement against you for it.... That is why it is important to negotiate it with the bank up front and with an experienced short sale Realtor. If you do not and try to at the end of the negotiating period the banks will not be as receptive.Dave diCecco Realtor/Brokerwww.davedicecco.com

What Is A Deficiency Judgement In A Charlotte, NC. Short Sale?

2012-01-30T09:16:00.001-05:00

Everytime I talk to a potential home seller about a short sale; the question arises about what does the bank do about the difference between what we owe and what they accept? Well the term the lienholders use is deficiency judgement.A deficiency judgement is when the lienholder accepted less than what was owed on the house. Thus, you are left with a deficiency. The lienholder has recourse to ask for a deficiency judgement making you liable for that difference. The deficiency judgment lien is calculated based on the fair market value of a property rather than the actual price of the property. What this is means is that if a homeowner’s property, which secures a home loan, has a fair market appraisal value of $200,000 and sells the home for $150,000, the borrower will be subject to a deficiency judgment in the amount of $50,000, if a lender chooses to pursue the matter. Doing A short sale make sure that you and/or your Realtor ask for a deficiency jusgement waiver when negotiating your short sale....Most banks will accept one if you ask and negotiate it in from the onset.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Six Tips To help You Sell Your Charlotte Home This Spring

2012-01-27T18:15:00.001-05:00

Most home sellers have waited to the holidays are over and now are contemplating putting their Charlotte area house on the market. And why not. But, what do you do to help enhance the chances of your home selling this spring?First, hire a Realtor that utilizes various social media outlets to advertise your house. More and more buyers are using social media and smart phones to shop for homes...You want to ensure the Realtor you hire in the Charlotte market is well versed in those areas and has a strong online presence.Second, make sure your Realtor takes lots and lots of photos of your house. As the old saying goes " a picture is worth a thousand words". Also, it helps especially now if they are using You Tube and doing videos on your house.Third, de clutter your house. Pack away anything you do not need out and take away furniture that you can live without. You want the home to show as spacious and open as possible. Also, it allows the buyer to better envision hoe their furniture will set up in the house.Fourth, Make sure your home is show ready all the time. You never know when a buyer may pull up and want to see your house while they are out viewing homes....By not having your home ready to show for that buyer can hinder your chances that the buyer for your house will walk away.Fifth, make sure your home is available for showings. I know for some people with pets and small children that it can be difficult at times. however; the more flexible you are the better your chances of having a buyer come see your home.Sixth, This is probably the most important. price your home right from day one. Everyday you let your home sit on the market for more than it is worth with hopes someone will pay it you are losing valuable market time and potential buyers......In this competitive Charlotte, NC. market there are certain things you can do as a seller to help drive traffic to your house. There are things out of your control. But at the very least ensuring you are doing the things on this list will increase your chances of your home selling this spring and for more money.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: The Arts Distrcit/NoDa Charlotte, NC. December 2011

2012-01-24T15:41:00.001-05:00

NoDa or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. Below is the market trends over the past three years for the area from December 1st to November 30th.3 years ago there were 45 homes that sold for an average sale price of $234,926 They were on the market for an average of 76 days.2 years ago there was 22 homes that sold for an average of $230,668. They were on the market for an average of 160 days.Last year there was 31 homes that sold for an average of $196,798 They were on the market for an average of 118 days.Currently there are 18 homes actively on the market for an average asking price of $224,797. They have been on the market for an average of 231 days.There are also 7 homes under contract. These homes have not closed yet. They have an average asking price of $206,129 and were on the market for an average of 183 days.Based on the current market conditions inventory levels are leveling off in this area. A six month supply of inventory is considered to be a blanced market. Currently there is a little over a six month supply.which makes this close to a blanced market.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. 28105 December 2011

2012-01-23T08:54:00.001-05:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families love the location to the highways, the great schools and family like atmosphere with children playing in the park or riding bikes through the cul de sac's.Below are the market trends for Crestdale Crossing for the past three years. This will give you a good idea of how the housing has trended in there. These numbers are from January 1st through December 31st.3 years ago there were 4 homes that sold for an average sale price of $121,875. They were on the market for an average of 23 days.2 years ago there were 5 homes that sold for an average sale price of $114,350. They were on the market for an average of 81 days.Last year there were 6 homes that sold for an average sale price of $86,767. They were on the market for an average of 92 days.Currently there is only one home for sale at $84,900. There are 3 other ones under contract right now. The average asking price of the ones under contract is $89,125 and they have been on the market for an average of 52 days. David diCeccoRealtor/Brokerwww.davedicecco.com

New Listing: 343 Amir Circle Matthews, NC. 28105

2012-01-20T11:28:00.001-05:00

343 Amir Circle is one of the rarest finds in the Crestdale Crossing subdivision. The reason is because it is a ranch home. If you drive through the community you will notice very few ranch homes and the ones you notice will not have a garage (which this one does). Located in a nice subdivision of Matthews, NC. This home boasts almost 1300 square feet of living space. The home is situated on a cul-de-sac lot and features a nice white vinyl privacy fence for the back yard. One of the best features for me is the rocking chair front porch. It has one of the largest covered porches of any unit in the complex and the homeowner put in a swing on the porch overlooking the cul-de-sac. As you enter this home you are instantly greeted by the large open living room. The living room is the focal point of their house. There is a nice stone accented gas fireplace in the room and plenty of space to entertain and layout the room. Through the living room you go right into the open kitchen and dining area. A good sized kitchen that has plenty of cabinet space and countertops for cooking. Through a doorway you enter the part of the house with the bedrooms. The master bedroom is conveniently located in the rear of the house (adding to the privacy you get). It is a spacious room with dual closets for him and her (or just her as in my case). Situated in the master bedroom is a master bathroom with dual sinks and a tub shower combination. Coming out of the room you go down the hall to the hall bathroom which is adjacent to the master bathroom helping split the bedrooms from the master. The hall bath features a nice vinyl sided tub/shower surround. Farther down the hall is the two spare bedrooms. Both are good size and one features a walk in closet while the other one has a large double door closet in it as well. Keep going to the front of the house and you have the laundry room which actually breaks up the space between the garage and the bedrooms of the house. I found this to be a convenient location. Especially if you are tracking in any red clay or mud from outside.... The features that i love most about this house is the fenced in level back yard, cul-de-sac corner lot, and the ranch style living with a garage. A hard and rare find in their community. This home is a great home for a family starting out with great schools; or empty nesters looking to downsize. Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Is An Arm's-Length Transaction In A Short Sale?

2012-01-18T17:19:00.001-05:00

This question of what is considered an arm’s length transaction in a short sale is something that is very important when considering an offer for the bank to approve.By definition it is a transaction in which the buyers and sellers of a product act independently and have no relationship to each other. The concept of an arm's length transaction is to ensure that both parties in the deal are acting in their own self-interest and are not subject to any pressure or duress from the other party. in a Real estate transaction the bank will have both parties sign a form stating that this transaction is an arm’s length transaction. They are looking to protect their interest in the transaction of the house.Sellers and buyers always ask me why? The answer is really simple. The bank is willing to accept less than the house is worth and allow the seller to walk away from the remainder of their financial obligation. They do not want a situation where the seller is looking to cheat the bank.Suppose, you are selling your home on a short sale. you owe $200,000 on the house and the bank is willing to accept based on the current market conditions $150,000. They do not want the seller having a family member or relative purchase the house and then the seller is applying it back through the family member just to reduce the principal amount they owe on the house.If you are considering short selling your house and a family member says i want to buy it when you find out what the bank will accept politely tell them you cannot sell them the house....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Charlotte, NC. Restaurant Week January 20-29, 2012

2012-01-17T12:19:00.001-05:00

This Friday starts the famous Charlotte area restaurant week. If you have never heard of it before or are new to the area; this is a great week for food lovers. You pick one of the great restaurants listed and pay $30.00 for a three course meal (taxes and gratuity are excluded as is beverages). Charlotte is proud to have over 100 restaurants participating this year in restaurant week. These are restaurants that you could pay up to 3 times that amount for a meal. With locations spread through the Charlotte area and all types of restaurants there is something for everyone. I have participated in the past and have many friends who have done the same... I find it a great way for a night out with your spouse or a friend. The event runs for one week and starts this Friday evening January. 20, 2012 and runs through January 29, 2012. I have attached the link to the website so you can see participating restaurants and make reservations as needed. www.charlotterestaurantweek.comDave diCeccoRealtor/Brokerwww.davedicecco.com

Short Selling You Home? Should I Move?

2012-01-16T11:29:00.001-05:00

I have been dealing a lot with short sales recently. both on the seller end and the buying end. One question I get with sellers looking to sell their home is "Should I move out now?" There is a stigma about losing a house and a lot of people do not want there friends or neighbors to know what is happening. However; unless you absolutely have to; why would you move out of the house prior to closing on it? Generally, you are doing a short sale because you are behind on the mortgage payments and cannot afford to continue to make them anymore. As long as you have a legitimate hardship showing why you cannot make the payments the banks will work with you on a short sale. (see here is a little hidden secret: they do not want the house back either). So, you can live in the house rent free while we negotiate out a short sale for your home. That for me s the number one reason to stay. if you are having a difficulty paying the mortgage now...why leave and rent someplace when you can stay there for free? it can help you get your finances in better order for when you do move out.Yes, there are occasions where a home will not sell during a short sale process and the house will go to foreclosure. But even in that case you will have ample time to move out of your house. generally from the time a judge orders the foreclosure to the actual time of the sale is 30 days. then there is a little lag time for you to get out of the house. Even though the bank prefer you be out at time of sale.Also, in Charlotte, NC. the average time from initial filing to actual foreclosure on average is 21 months. that is almost 2 years you could live int hat house. now there are occasions where it can go faster and others where it can take longer. But from the time you are delinquent on your payment to an actual foreclosure the quickest i have seen is 7 months.There really is no financial benefit for you moving out. In addition you run the risk of the home being vacant that it can be subject to vandalism and other random acts of property destruction. You also run the risk of issues coming up with the house in the winter months if you are not properly winterizing the house; or if you are keeping the utilities on why pay for something you are not using.It makes the house easier to sell if someone is living in there. As long as the home is neat and tidy the home will reflect better than if it were empty. And you are more likely to get a better offer on the house. A vacant house sends a signal of desperation to buyers...Something like they have to sell so they will take so much less. I have found that my offers on vacant short sales are substantially lower in relation to what I feel the bank will accept versus ones that someone is living in.There really is no good reason to move out of a house that you are short selling; unless you have to for your job or other reasons..... The financial part alone makes it viable to help you through the tough times.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Charlotte, NC. Second On Best Value Cities To Live

2012-01-12T09:28:00.001-05:00

Yes, Charlotte, NC. was recently named second on is list of the top ten best value cities to live. A great credo for a great city. I chose Charlotte, NC. eight years ago for many of the same reasons Kiplinger magazine did. First, Charlotte is diversified. Yes, we are the second largest banking capital in the United States behind New York City. But when I tell most people that they looked at me stunned. "Charlotte, NC. is a banking capital?" We are home to Wells Fargo and Bank of America. However; we are home to major fortune 500 companies also. Lowe's, Family Dollar and an array of other companies call the Charlotte, NC. area home. This adds to the diversity that Charlotte offers families.Second, we are fast becoming one of the top energy hubs in the country. Our great location sandwiched halfway between Virginia Tech to the North, Georgia Tech to the south, NC State to the east and Clemson to the west has made us an ideal destination for the young and upcoming technology engineers. It also does not hurt that Duke energy is home based here in the Charlotte region and soon may become the largest utility company in the United States.Third, a big draw for bringing in companies and maintaining the ones we have is the family atmosphere you receive when you visit Charlotte. Despite our rapid growth Charlotte is well known for it's small town family like atmosphere scattered throughout the neighborhoods in the queen city.Fourth, is the eduction system in Charlotte. Charlotte has worked hard and continues to strive for excellence in the schools. And it is beginning to show. Newsweek last year ranked 14 of our high schools among the top 1600 high schools in the country. That is almost half of our high schools. Also, proof that our education system for a large town is producing what we as parents expect out of it.Fifth, Charlotte is very affordable. One of the main reasons I chose Charlotte was because of the affordability rate here. I deal with a lot of clients who are relocating from the North and are shocked at what you can buy here and the low cost of taxes in comparison to where they are at now. Do to our large business base Charlotte has been able to keep property taxes at a reasonable and affordable level for years and all signs point to that continuing in the near future.Sixth, Charlotte is a fun city. Home to diverse neighborhoods and areas. Charlotte offers something for everyone. We have numerous restaurants and bars that cater from the upscale to the local and everything in between. In addition Charlotte is home to a professional basketball team (Charlotte Bobcats), football team (Carolina Panthers), and minor league hockey as well as baseball teams. NASCAR Hall of fFame calls Charlotte home as well... In addition to the sporting events there are a lot of museums, theaters and other cultural activities going on in Charlotte, NC. throughout the year. If you prefer enjoying the outdoors there are numerous green-ways throughout Charlotte and more being built or expanded in the area daily.Last, is the weather. because of our unique position in North Carolina we do not get the snow or the extreme cold weather other areas do. Yet, we are only a couple of hours away from the mountains and a couple of hours away from the beach...As the city strives to go green the progress shows throughout the city. Jobs are being created daily to help with the transformation and companies are moving here to take advantage fo Charlotte's forward thinking with green technolgy. Thinking about relocating or moving to Charlotte? There is so much for everyone in Charlotte.Here is the link to the article on Kiplinger's site: http://www.kiplinger.com/magazine/archives/best-value-cities-2011-charlotte.htmlDave diCeccoRealtor/Brokerwww.davedicecco.com

Why You Must Have A Survey Before Closing On That House

2012-01-10T16:55:00.001-05:00

A survey costs a few hundred dollars but the information it can provide you can be priceless. I recommend to every buyer to have a survey done on the home they are purchasing. there are many reasons as to why you should have one; and really MUST have one.First, is encroachment. Encroachment is when someone else ( a neighboring home) places something on your property. Some examples are storage sheds at the back of yards or fences. There are no guarantees because the fence is erected and the shed has been there for what looks like a little while that they are not on your property. I sold a couple of homes last year where four neighbors bordered my buyer's backyard. All four had fences which led to the seller just piggybacking off of them to close in his yard. When we had a survey done we found ALL of the neighbors had encroached on the property. it was not just an inch or two. We were talking in the feet. A very noticeable encroachment all the way around. This has ramifications based on how long this was like this and what is the buyer to do if she goes to sell the house. After a period of years if nothing is said or done the encroachment becomes part of the neighbors property thus decreasing the potential value of the house and hindering it's resale with that issue unless it is addressed upfront.Second, do you know where the property lines are for a house? On most homes you can get a safe gage as an approximation of where the property lines are. But what if they are not "normal" property lines? I just had an occasion where the builder did something wrong and cut half of the front yard to the neighbor and then gave half of that neighbors back yard to the other house.We caught ti because of a survey. Who wants to own a house where half of what normally would be your front yard does not belong to you and you own half of your neighbors back yard? it explained a lot as to why this home was on the market for a long time period.Third, if you want to do anything to your property or cut any trees down or put up a fence you need to know where your property lines are...or you could be facing taking it down or destroying someone else property.....A survey is not a luxury anymore when buying a house but a necessity....Do not purchase that home without having a survey done first.Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Does A Realtor For A Bank Owned Property Have To Disclose?

2012-01-09T16:36:00.000-05:00

Bank foreclosure sales are the predominant venue for most home buyers today when they begin their home search. Bank owned homes tend to be priced below market value and there is no emotional attachment to the house for the bank. But there are a few things to be aware of when you are looking to purchase a bank owned home. One is property disclosure in North Carolina. Generally all sellers will fill out the form honestly with what they know about the house and the latest dates for replacement of anything they are aware of. Because a bank has never actually lived in the house they are exempt from any property disclosure. Some people argue, so what? Well, the fact is the bank has sent someone to look at the house and give an evaluation of what they see to be wrong with the house. In some cases they will even get quotes on doing some repairs to the house or cosmetic work if they feel it will enhance the value of the house or help in the sale of the house. Then they will make a decision as to whether to do the repair work or not. What if the bank is trying to fix a problem in the house? The bank can fix it and not say anything just as a homeowner can as well; but what about the Realtor? Do they have an obligation to say anything? Talking to realtors who represent banks on properties in the Charlotte, NC. Area the consensus is NO....They are an extension of the bank and if the bank does not want to tell they do not have to tell (unless it is a material fact about the property). Why would you not want to tell someone about a repair you did? Or inform them that the property may have hidden damage? I have shown and sold my share of bank owned properties. Some have been great deals and some have had issues. Most I would say you could see what the damage was...but in some cases not until the home inspection did we realize the extent of damage... Yet, when I go to cancel a transaction the Realtor said I knew but it is no big deal... Well what may not be a "big deal" to you may be to a single mother of two children looking for her first home.In my humble opinion (and I am only one person and am not speaking for anyone else here) I believe if a Realtor is aware there is an issue with a house or fixed an issue with the house they should inform the buyer's agent before the final negotiations are done. As a Realtor; it is upsetting to negotiate out a transaction with a bank and then do a home inspection to find issues with the house that were already known and not disclosed. Why make the buyer pay for a home inspection and waste everyone time if there was an issue with the house you as a Realtor were aware of and elected not to tell?Buying bank owned homes can be a good deal…but only if you understand the rules and what a bank will or will not tell you……Dave diCeccoRealtor/Brokerwww.davedicecco.com

Can Civil Judgements Affect You Selling A Home In Charlotte, NC?

2012-01-06T14:07:00.001-05:00

Civil judgments are judgments against you the person. In some states, North Carolina being one of them, civil judgments not only affect your credit but impact your ability to sell a home. In North Carolina a civil judgement against you as a person automatically ties in to any property you own. So, if you are going to sell a home and have civil judgement against you on your credit report you will need to ensure you have enough proceeds from the closing to pay them off or satisfy them prior to the closing. I was educated on this situation a few days ago. A client has a home for sale. He has a secured lien on the house (his mortgage). There are no other liens on the house.... We agree to a sale price on the house. the buyer's attorney runs a title search and finds the mortgage listed. In addition finds an OLD civil judgment against the client that has been accruing interest. The net proceeds from the transaction are insufficient to cover the difference owed on the civil judgment. We are unable to close on the house unless the seller comes to the closing table with the difference in money to satisfy it. The irony of this is that the civil judgement against the seller is NOT attached to the house. So there is no lien form it on the house. But in North Carolina it does not matter. It is to the person on the house and all judgments in your name must be satisfied in order to sell the house. I have always asked if there were any liens on the house outside of the mortgage. A question all sellers usually know the answer to. But I have never asked about civil judgments against them. I guess the old adage that you learn something new everyday is true......I just learned something new.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Why You need A Title Search Prior to Listing A Home As A Short Sale

2012-01-05T14:00:00.001-05:00

As short sales have become more predominant in the housing market in Charlotte, NC.; there are steps that you as a consumer can take to ensure that the transaction moves smoothly. One such thing is to have a title search done on your property prior to putting it on the market. or at the very least make sure the Listing agent insists on having one done on the house prior to selling the house.A title search is by definition just that. An attorney will perform a search of the title of the house (or deeds of trust) and ensure that first the home was conveyed properly through the channels on prior sales up to 30 years. In addition they check to see who has a secured interest on that property right now. Most homeowners are aware of their mortgage being a secured interest on the property. In addition if you have a second mortgage or a home equity line of credit; that will be attached as a secured interest on the home. What homeowners are unaware of is that unsecured debtors can place a lien on a house. Some of the most common ones are HOA (Homeowners Associations). If a family is doing a short sale because they cannot afford the house anymore; there is a good chance that they are not going to pay the HOA dues. To protect their interest they will file a lien against the property for back dues.Another one is a judgment against you as a person. In North Carolina a civil judgment against you as a person would have to be satisfied in order for clear title to a house to be conveyed. Most civil judgments are credit cards. it is uncommon for credit cards to do this but it does happen. And when it does and no one knows about ti until the closing attorney does a title search it can cause a whole transaction to blow up.Having a title search done upfront also helps eliminate any questions and helps the attorney prepare the closing statement letting everyone know how the money is going to be divided...A bank/lender may agree to a certain dollar amount and then find out there is another lien on the house that has to be satisfied. Now, they are getting less and you have to renegotiate the whole transaction all over again. A title search is invaluable for any short sale and not doing one upfront can be disastrous to a transaction.Dave diCeccoRealtor/Brokerwww.davedicecco.com

New listing: 9801 Bella Marche Drive Charlotte, NC. 28227

2012-01-03T17:35:00.001-05:00

This 3 bedroom two and half bath home located at 9801 Bella Marche Drive in Charlotte, NC. 28227 is a handyman dream. Priced at $65,000, this home is in need of some work and repair. Located in the desirable Mcalpine woods subdivision of Charlotte, NC. This home borders very closely to Mint Hill, NC. With over 1500 square feet of living space in this home; it is truly a great value for the money. As you enter the house you are greeted by the two story foyer; and open up to a large open living room with a wood burning fireplace centered in the room. Off the living room is the eat in dining area that is open to the living room and adjacent to the kitchen. The kitchen offers a lot of cabinet space, pantry and a patio door which takes you out to the large fenced in back yard. In addition off the kitchen area is a large laundry room with access to the one car garage.When you venture upstairs you are greeted by a large master bedroom that boasts a cathedral ceiling and two large windows facing the front of the house bringing in a lot of natural light into the room. there is also a large walk in closet and a private master bathroom.Down the hall on the opposite side of the master bedroom are the two spare bedrooms. Both are very good sized and have ample closet space. Separating the bedrooms from the master is the second full bathroom located upstairs.The feature of the house that sells the home is the yard. It is a completely fenced in rear yard that has both a patio and deck on the back. The grounds have mature landscaping which adds to the character of the house.Being located on a cul de sac road there is no drive through traffic and you can see kids outside riding bikes, and playing ball... A great neighborhood to raise a family with some good schools to boot. The house is currently slated for J.H. Gunn elementary school, Albemarle middle school and independence High School.Come see why a lot of families love calling Mcalpine woods subdivision home.

What to look For If Buying A Vacant Charlotte, NC. Home

2012-01-02T12:40:00.001-05:00

As we move into 2012 I started thinking of the cold weather. In fact, this morning they were talking about freezing temperatures as I was driving the kids to school. it made me think of vacant homes I have been looking at with clients. Everyone knows that the bank owned homes are vacant...They have been probably even before the bank got them (not always). The bank goes into these homes and secures them and winterizes them. This is to protect their investment in the home.When you view a bank owned home you will see orange stickers on the faucets and the various tubs and showers telling you not to turn the water on the house has been winterized. It gives a little peace of mind knowing the bank has sent a professional company in to secure and properly winterize a home.But, what if the vacant house that you are looking at is not a bank owned one? Is the water and power still on? Or if they have been turned off, were the lines properly drained and the house properly winterized? These things can make a difference in whether that house is going to cost you an additional sum of unexpected money.Pipes freeze all the time in the winter time when there is no heat on....But not all pipes freezing break and when they do break the expense can be minimal or expensive depending on where the pipe is located. When I visit a vacant home (that is not bank owned) I turn the first faucet I see on to see if there is water running or not. Chances are if the water is on the heat is on and the house will not suffer any damage from pipes freezing. But what if the water is off?If my clients have an interest in the home I check with the listing agent to see if they know how long the water has been off and whether the house has been winterized or not. If not I caution my buyers to the potential of broken pipes and make sure that if they pursue this house that they have an inspection to check the pipes....Even if the house has been winterized...on the orange stickers they put the date they did it. You want to make sure it was done before the cold weather came in. Because if it was not they may have a broken pipe and are preventing further unknown damage to the pipes.I ran into this experience recently where a home had been vacant for over a year and the homeowner did not winterize the house but the bank did when it got it...however; in the intern the pipes froze and a pipe under the slab of the house cracked....The problem was you would never know until you ran the water for a few days and saw the ground get wet when there was no rain.So, looking at vacant homes check dates on orange stickers for when they did winterize the house and have your Realtor check with the listing agent on ones that you are unsure about....it could save you thousands of dollars..... Dave diCeccoRealtor/Brokerwww.davedicecco.com

Can Video Tours Help You Sell Your Charlotte, NC. Home?

2011-12-29T13:03:00.001-05:00

With new technology coming out it seems like everyday; can video tours help you sell your Charlotte, NC. home? I think it does. yesterday I had a closing on one of my listings. While I was in the lobby waiting the buyer came in and said "I know you; you are famous". needless to say i had a perplexed look on my face. I have been called a lot of things; but never famous. he told me he watched my you tube video and was thoroughly impressed with the time and dedication I put in. In fact, in this market he said that was the deciding factor for him to go and actually view the house and eventually put an offer in and buy it. I have had other similar stories of people who told me the video helped them decide on the house or not to. but one constant remained throughout all the conversations I had...it helped me market the house better.I do not do a traditional video where you stitch a group of photos together and put up a slide-show of the house with multiple photos. I actually take the time to walk through the house and explain the features and selling points of each and every room. I actually give a virtual walk through on the house. With the market being such that buyers and sellers have limited time available; this has enhanced my homes on the market and has brought buyers ready to make an offer subject to seeing the house.The Internet has made it so that over 90% (and I actually think this is a conservative number) of people start their search on-line for a house. Out of those 90% plus people over 45% said in a recent survey they found the house they bought on-line. that is almost half. What f the weather is not conducive for the buyers to go out and view a home. Would it be nice to know they can watch a complete tour of the home and it's features on-line form the comforts of their home? What are you doing or your Realtor doing to enhance your home so as to attract those almost 50% of buyers who buy a house they found on-line to your home? Videos are now a must in my opinion to get a home sold... I can attribute 3 sales in the past 9 months to videos....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Why You Should Sell Your Charlotte, NC. Home In The Winter

2011-12-27T16:22:00.001-05:00

Most home sellers that did not sell their home this past year are deciding to wait until the spring time to place their home on the market. The theory is "it will sit between now and then and I have a greater chance of getting it sold". The truth be told; is you probably have a better chance of selling it NOW rather than waiting until the spring season.First, living in Charlotte, NC. has some great advantages. One being the lack of snow we receive. Coming from the Northeast; this has been a welcome experience. I do not have to worry about a home not being able to be shown because of snow or of getting photos of a house because of the weather....So, for my friends and family in the North this may not apply to you as much.Second, people are out buying homes year round. There is such a notion that by waiting to after the winter to put a house on the market you have an increased chance of selling it. yes, there are historically more buyers out looking in the spring than the winter months. No one knows the exact numbers. But, your home is going to get a greater amount of showings in the spring and summer than in the winter. However; with less buyers out in the winter time you also have less homes for them to choose from. this leads to the buyers have less choices to make. less choices increases your chances of getting your home sold sooner rather than later.Third, with the holiday's and the time of the year as a seller you are well informed to know that the buyers coming out are actually interested and ready to buy. because, the chances are they have to buy. Who else would go out looking at homes in the winter months around the holiday's?Talking to sellers all the time I get the impression that now is not a good time to put it on the market...But I think the contrary is true. yes, your showings will not be as great as if it were the spring market....but you will have more serious buyers coming through now; rather than in the spring time.Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Is The House Charlotte Housing Program?

2011-12-26T11:17:00.001-05:00

In Charlotte, NC. there is a popular program among first time home buyers with limited resources for a down payment. It is a program called House Charlotte. The program is desgined to help stabilize select neighborhoods throughout Charlotte while promoting home ownership. The House Charlotte program provides up to $10,000 assistance toward down payment and closing costs for "challenged " neighborhoods. In addition it provides up to $7500 assistance toward down payment and closing costs for "transitional" neighborhoods.This program is designed to help first time home buyers purchase a home. You still need to qualify for a mortgage as if you were applying without the program. the difference is with this program you do not need a down payment to to buy a home. In addition the money you receive from House Charlotte is forgiveable over a 10 year period. So, in essence if you stay in the house ten years you end up getting the money for free. If you move prior to the 10 year period you have to pay it back to the city.There are over 87 elgible neighborhoods in Charlotte that qualify. There are a lot of areas that qualify for the program. Not everywhere in Charlotte and becuase the city actually maps the areas out differently; you will need to do an address search to make sure the home you select is in a qualifying neighborhood.What other requriements are there for this? You are required to attend a home buying seminar at the local office in uptown. In addition the home price cannto be over $147,000 and your income cannot be over 110% fo the median income of Charlotte. The median income is based on the household size. (at the time of this a single person would have to make $51,750 or less a year and a family of four $73,900). if you are looking to buy a home and the only thing holding you back is down payment...Consider using the House Charlotte program. It is a great way to enjoy the benefits of home ownership while interest rates are at record lows.To see what area are avaialble you can visit http://www.cmhp.org/Homeownership-Program/HouseCharlotte-Program.cfmDave diCeccoRealtor/Brokerwww.davedicecco.com

This Realtor's Christmas Wish

2011-12-23T11:32:00.001-05:00

This time every year is all abut the holiday's. For me it is decorating the Christmas tree and buying gifts for my loved ones and friends. Singing Christmas carols, going to see holiday lights and watching Christmas shows over and over again on TV. (Tomorrow is my favorite one the Christmas story). But the most important aspect of the holiday season for me is remembering the past year and spending time with family and friends. I have tried over the years to instill in my children the real gift of Christmas (or any holiday this time of the year) is the gift of oneself. A gift does not have to be a monetary item. To many times we lose prospective as to the real meaning and are in a hurry to get the hottest toy that is out there, or what are we going to do bigger and better this year. This year, I received the best gift of all from my daughters. it was the gift of time. When I asked my youngest what she wanted for Christmas her list included two toys (both reasonable) and to spend more time as a family.When I asked my oldest daughter the same question it was following in the family traditions that we do every year...Those traditions are ones where we as a family do things together.As I write this I look back and think to myself as a Realtor we are always taught to build relationships and nurture them and keep in contact with our clients to build a long and prosperous career...But what do I do to ensure that with my family?I spend countless hours each day, week, month and year nourishing my relationships with clients/friends....but do I give the same attention to my family? I have come to realize through the eyes of my children that I do; but not enough. I love the look on a young couple's face when they just signed the papers and now own their first house. or the look when someone has bought their dream home. it is like Christmas everyday for me seeing those expressions and it never gets old. I get a warm feelign inside knwoing I helped soemone. That feeling is something I wish for everyone out there...be it buying your first home, or your dream home. or just the lfeeling when you and your family are spending time together or helping soemone out.....This holiday season I know I am going to cherish the time with my family more and keep it going throughout the year...I hope you do as well....Happy Holiday's......Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Does A Lienholder Do On Multiple Offers on A Short Sale?

2011-12-22T13:40:00.001-05:00

Yesterday I wrote about how a Realtor is required by Real Estate law to submit ALL offers into the lien holder. But what does the lien holder do with those offers? Well, unfortunately the answer is not as black and white as submitting all offers to the bank. it depends....I have dealt with numerous banks/investors on short sales. I have had discussions with most of them when I am working a short sale as to their policy regarding a second offer coming in on the property while we are negotiating an offer on it. the answers have varied.I will say most banks want to know their is another offer on the house. They have asked me to verbally convey the terms of the offer. if the offer is financially more beneficial to them; they have countered back to the first buyer with the terms of the second offer (if the first offer terms were acceptable to begin with) and asked them to make a decision. I have had other banks (only one i have dealt with so far) tell em that submit one offer and any other offers you are to hold as backup offers and we do not want to know about them. Some banks have had me send all offers into them and when they were working out the numbers for the house they reviewed all the offers and told me this is the price we want for the house based on the offersNow, the difficult part with this part of the transaction is that the seller is technically the other party in the contract (not the bank/lien holder). Once a seller signs an offer to purchase and accepts the number subject to third party approval that is the only offer the bank can really consider. Just because I offer one number and you come behind and offer more money and better terms does not mean the bank can kick me to the curb. I still have to be offered what the bank feels is an acceptable number for them. if I refuse to accept the bank number then the seller can go back to the other buyers and present the bank offer to them and let the next in line buyer decide if they want those terms or not...and so forth down the line. So, ALL offers as I mentioned yesterday have to be presented to the bank. but the bank cannot pick and choose which offer they want to work with....However; experience has told me that they will adjust the numbers to the highest offer and maybe a little more if they feel they can get more money.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Do ALL Short Sale Offers Have To Be Presented To The Bank?

2011-12-21T13:18:00.001-05:00

The question is do ALL offers have to be presented to the Lienholders/banks on a Short Sale? This is a question that comes up time and time again. if you go out and ask 50 Realtors this question the chances are you are going to get a couple of different answers. The answer should be simple....YES they do. There are Realtors out there that will disagree with this statement. Under a normal sale transaction in North Carolina the seller and buyer negotiate a sale price for a home. Upon agreeable terms to both parties a revised contract is written and signed by the seller and the buyer. The buyer goes through their due diligence period and closes on the house.On a short sale, everything is the same until you get to the diligence period. After the seller and buyer sign the offer it is then sent to the bank for APPROVAL. yes, I capitalized the word. it is very important to understand that just because the seller and the buyer have agreed to terms the bank does NOT have to accept them unless it makes financial sense to them. A seller cannot terminate an offer and accept another offer because the terms are better than the first offer. A seller can notify their Realtor to inform the buyer that they will accept the offer as a back up offer on the house. That part is correct when Realtors say the seller will only entertain one offer and all other offers will be placed as back up offers.However; here is where the confusion comes in. Just because the seller has accepted the offer as a backup (which is the legal and correct thing to do) does NOT stop or preclude the listing agent from presenting the offer to the lien-holder. A lien-holder has a vested interest in the property as a third party. it is being asked to release a lien on a house without getting fully compensated for it. Thus, as a Realtor we are required to disclose to the lien-holder that there is another offer and the terms and conditions of that offer. it has become a material fact to the lien-holders interest in the property. What a lien-holder does with that information is for another blog post.... But as a Realtor we are required to present all offers to the seller and notify any lien-holder on a short sale of a subsequent offer....If your Realtor is not doing that, they are violating the rules and laws governing us.So, if you have your home on the market as a short sale and signed off on an offer and received another offer; what did you do? What did your Realtor do? Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: NoDa/The Arts Distrcit Charlotte, NC. Nov. 2011

2011-12-20T12:01:00.001-05:00

NoDa or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. Below is the market trends over the past three years for the area from November 1st to october 31st.3 years ago there were 43 homes that sold for an average sale price of $242,541. They were on the market for an average of 62 days.2 years ago there was 24 homes that sold for an average of $235,046. They were on the market for an average of 161 days.Last year there was 30 homes that sold for an average of $183,117. They were on the market for an average of 113 days.Currently there are 31 homes actively on the market for an average asking price of $250,258. They have been on the market for an average of 182 days.There are also 7 homes under contract. These homes have not closed yet. They have an average asking price of $277,000 and were on the market for an average of 191 days.Based on the current market conditions inventory levels are still high in this area. A six month supply of inventory is considered to be a blanced market. Currently there is a little over a year supply. this bodes well for buyers in this area right now. Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. 28105 Nov. 2011

2011-12-19T10:13:00.001-05:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families love the location to the highways, the great schools and family like atmosphere with children playing in the park or riding bikes through the cul de sac's.Below are the market trends for Crestdale Crossing for the past three years. This will give you a good idea of how the housing has trended in there. These numbers are from December 1st through November 30th.3 years ago there were 4 homes that sold for an average sale price of $121,875. They were on the market for an average of 23 days.2 years ago there were 5 homes that sold for an average sale price of $114,350. They were on the market for an average of 81 days.Last year there were 6 homes that sold for an average sale price of $90,933. They were on the market for an average of 101 days.Currently there is only one home for sale at $79,900. There are 4 other ones under contract right now. The average asking price of the ones under contract is $86,863 and they have been on the market for an average of 83 days. David diCeccoRealtor/Brokerwww.davedicecco.com

Why You MUST Have A Home Inspection On Your Charlotte, NC. "As-Is" Home

2011-12-15T16:41:00.001-05:00

I have written a blog before about the importance of a home inspection. A lot of people say why spend the money to have one if the bank or the seller 9if a short sale) are not going to do any repairs to the house? Well there are a lot of reasons as to why.First, even if a home is being sold in it's present condition you still have the right to walk away if an inspection uncovers some issues you were not aware of. I just went through this last week. Clients were looking at a house. it was obvious that the home needed some work.... We negotiated according tot the work that you could visibly see. After agreeing to a price we had a home inspection....The home inspection detected issues with the house that would have cost my buyer upwards of $20,000 to repair. If not for a small investment of time and money they would have never known until it was to late that they could have been out a lot of other money than anticipated.Second, you want to know what you need to do to the home once you move in. Even if after the home inspection you decide to purchase the house (most people do the above was an exception to the rule) wouldn't you want to know what repairs the house needs? Yes, you probably can see the obvious but what about the ones that were not so obvious? Why not know now and address them before the repair becomes more costly?Third, you can find out what to budget for in the near future for potential expenses... A good home inspector can tell you whether the furnace is designed to last longer or if you should plan on budgeting for a replacement soon...Same thing for an Air conditioner, a water heater, windows, or heat pump.. On my first home I purchased the home inspector told me the water heater worked but that it was beyond it's life expectancy and I should budget for a new one in the near future... Well two weeks after I closed it broke (Murphy law). But the knowing that it could go had me leave some money aside for the replacement of it despite the other cosmetic things i wanted to do for the house....Fourth, having a home inspection gives you peace of mind of knowing you made a good financial decision. a home is the largest purchase you make....Why nit ensure ti is the right one you make?Buying a home is a big decision that is never taken lightly. However; why make one and not make sure it is the right one? have a home inspection on the home......Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Is An Approved Short Sale?

2011-12-14T14:29:00.001-05:00

see it advertised a lot on the Multiple listing service and across the Internet that this house is an approved short sale. Well what is an approved short sale? The perception among home buyers is that this is the number the bank will accept for the house...but is that always the case? See, not everyone can do a short sale. You have to have a legitimate hardship to qualify for a short sale. Just because you owe more on the house than it is worth does not necessarily mean you can do a short sale. There are times when an offer is submitted to a bank and the bank will come back and tell the Realtor that they will accept X amount of dollars for the house. because a lot of times the person that put the first offer in is not the one that buys the house.... they usually cannot wait it out and move on to another house. Or the bank wants more than they are willing to pay for the house.To me an approved short sale is one where the bank has accepted the short sale and agreed to a dollar amount they will accept on the house.....Then the short sale is approved and at a set price.I hear Realtors say, but not everyone is qualified to do a short sale and if the bank accepts the hardship it is an approved short sale....Well yes that is true. but should you be advertising a home as a short sale if you are not 100% sure it will pass the short sale criteria?When you see approved short sale...ask questions. if you see approved short sale at list price then know the bank will accept that dollar amount on the house and the transaction should move rather quickly.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Do You Look For A Charlotte Home For What It Is Or What It Could Be?

2011-12-12T13:30:00.001-05:00

I was inspired to write this based on a transaction i did... A few months ago I sold a home to a couple relocating out here. The house met all their needs and some of their wants. The price was good. They looked at the house and realized the potential the house had. So they bought it. now a few months later the same house has been transformed. The home now is the house that not only fit their needs but their wants as well.......Like they said when they were giving me the tour of the house....You helped us realize the potential this house had and now we have a home that is more than we expected when we started the process of looking...... Do not get me wrong; we are all looking for that perfect home situated in the perfect neighborhood with the perfect neighbors painted and laid out the way we would want it... But how realistic is that view today? or for that matter anytime? I ask very specific questions of buyers and try to get an understanding talking to them of their wants and needs... I explain to them give em your needs in a home and I will search for that...If the list is to long I can narrow it down with some of your wants as well. But when you are looking at photos of homes are you looking at the potential the home has? or are you looking to see if the home is exactly what you want? there is a big difference here. Looking at homes for the potential opens up a lot of doors for you. ( I by no means believe you should sacrifice any needs for a house). but if a house has all your needs but not your wants or needs some cosmetic work...are you going to rule it out? more buyers today are doing just that or are looking for larger discounts because of the condition of the house.If a home needs some work adjust your offer to compensate for the cosmetic repairs that the house will need....Why pass on a house just because it needs some fresh paint, carpet or some minor repairs? looking beyond the house to it's true potential is like finding a diamond in the rough.Are you looking for homes based on what they could be or for what they are? maybe adjusting your search for potential homes will allow you to find that diamond in the rough......Dave diCeccoRealtor/Brokerwww.davedicecco.com

Should You Contact Listing Agents About Homes You Are Interested In?

2011-12-09T06:18:00.001-05:00

Recently the question came up to me from a prospective buyer on whether it was a good idea for them to have me show them one of my listings. Generally, most buyers contact a listing agent on a property to get more information about a property....But should you work with a listing agent on purchasing a home they have listed for sale? In North Carolina as a Realtor we all work for the seller unless we have a buyer's agency agreement signed by the prospective buyer which means that they are exclusively working with us in trying to find a home....But the age old question is that is it a conflict of interest to work with both parties in a transaction? After explaining agency and the role I would play in a transaction with a prospective buyer they said if I want to buy this particular house (one I had listed) should I get my own representation? My answer is it all depends on the situation. On a traditional home purchase where the seller is not short selling their house or there are no special circumstances involved I would recommend to get your own representation. The reason is simple. Even if you sign a buyer's agency with me; I still represent the seller first and foremost. So anything you tell me that can affect the transaction I can pass along to the seller in order for the seller to make a more informed decision....I will know what your feel is a fair price for the house. i will know what you are comfortable paying for the house. I will know the terms you want for the house. Thus, I am going to tell the seller everything and your negotiating power has just been lost.However; on a short sale the rules are a little different. Yes the seller is selling the house. however; it is ultimately not their decision as to what an acceptable price is for the house....That belongs to the bank or lien holder. the bank will do their due diligence to find out if the offer is an acceptable one or not....they will counter back or accept the offer as it is written. the seller really does not care what you will pay for the house....the seller only cares that the house gets sold before it goes to foreclosure.I have represented both parties on a short sale before. I found no conflict in interest in the transaction. The bank basically set the price and the seller had an agreement with the bank and the buyer got the home for a fair price.....All it did was make the transaction go a little smoother since I eliminated a middle person (another Realtor) out of the equation. I was talking with this buyer the other day and told her if after looking at other homes she decided that this was the one she anted to purchase i would recommend her to a few Realtors i know to help facilitate the transaction....This way she is getting the representation she deserved and I am not put in a position where I am not giving the buyer the just representation they deserve.On the other hand; I did show her other properties and told her if this is not the right home for her then I can represent her and give her the representation she deserved and would be solely looking out for her best interests.Amazingly, she had been looking at numerous homes over the past few months and has contacted the listing agent on each one to view them.....I was the first that offered her that option and explained it that way..... Everyone else she said insisted she sign a buyer's agency agreement with them....Why? if they buy the house you have listed you are not truly representing the best interests of the buyer......Dave diCeccoRealtor/Brokerwww.davedicecco.com

Should I Leave My Charlotte, NC. On The Market During The Holiday Season?

2011-12-07T06:04:00.001-05:00

The age old question always comes up right after thanksgiving holiday...."Should I leave my home on the market or take it off and put it back on after the first of the year?" My answer is always the same when I get this question.....leave it on the market. There are many reasons for this. Some are logical and some are just from crunching and looking at numbers and trends over the past few years and deciphering that data. First, From Thanksgiving through the first of the year is considered the holiday season. it is when people are in a festive mood and out holiday shopping, attending holiday parties, and getting together with friends and family to enjoy the holiday's together. So, time becomes a precious commodity during this time. It seems that even when we feel that are days are not long enough now; they are even shorter with the holiday's. This leads me to my point. If I have a home on the market NOW during the holiday's and I get a showing; the chances are pretty good that they HAVE TO BUY NOW.... Who goes around thinking of looking at homes during the holiday's? I know I have a lot of other things to do with my time and would wait to after the first of the year to "look for homes' unless I HAD to move or buy.Second, a lot of home sellers schedule their listings to expire around the holiday's. The intentions are that they do not want the home on the market during this time period and do not want their home or holiday disturbed by showings....So, thus they remove it and look to put it back on during the spring market. This leaves even less competition out there for you when people are looking for a home.....The statistics show that from Thanksgiving through the first week of January inventory levels of homes on the market are the lowest all year. Third, home sales during this time of the year are down from the spring and summer months.....but not far off from the fall or early winter months. In fact in relation to the amount of homes on the market and the percentage that actually sell during this month in the Charlotte area is the third highest total all year for a month. So, more buyers may not be out but a higher percentage of homes on the market actually sell now than in 9 other months of the year... Why would you want to not be part of one of the highest sale times in relation to inventory? During the holiday's it may be inconvenient to have someone come look at your house, but they probably have to buy NOW....With inventory levels at low levels and more buyers per house on market than most of the year why would you not want to keep your home on the market during the holiday's?Dave diCeccoRealtor/Brokerwww.davedicecco.com

New Listing: 339 Amir Circle Matthews, NC. 28105

2011-12-05T11:05:00.001-05:00

339 Amir Circle is a 1500+ square foot 2 story home located in the Crestdale Crossing subdivision of Matthews, NC. This home features 3 bedrooms and 2.5 bathrooms. The home also has the added feature of a bonus room in the upstairs.... As you enter this home you initially will not ice the cathedral ceiling in the living room and the stone gas fireplace. The living rooms is a spacious open room that can comfortable sit a family. Off the living room downstairs is the master bedroom. A good sized master bedroom that is large enough to fit a king sized bedroom set in it; the convenience of having it on the main level is very attractive. but the one feature that stands out is the large walk in closet this room has to offer. The home owners forgo the separate garden tub/shower stall combo to get the extra large closet and it is almost like walking into a room....Through the living room you enter the kitchen which is located on the back side of the house. the kitchen is open and has plenty of cabinet space as well as counter top space...All the appliances stay with the home as well.Venture up the stairs and you are greeted by two good sized spare bedrooms and a bonus room. The bonus room does not have a door or a closet but was previously used as an office/play area for the children....The possibilities with the room are endless.Go out the back patio door and you will be greeted by a nice level back yard that offers privacy and plenty of room for the kids to play....Pass through the walking trail and you can venture to the community playground and field. A nice wide open area that has a brand new play set for the children and a field about the size of a football field for the children to play on.One of the best features of the house is the location. Crestdale Crossing has only one way in and one way out. Thus all the streets either dead end or form a cul de sac....It makes for a nice peaceful area. Also, located in the award winning Matthews School district....This home is currently slated for Matthews Elementary School, Crestdale Middle School and Butler High School.A lot of families have called Crestdale Crossing home...priced at only $79,500 this is a great value in a fantastic location.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

What is A Material Fact In North Carolina And DO I Have To Tell?

2011-12-02T11:00:00.001-05:00

Time and time again this question tends to come up....what is a material fact in a real estate transaction? Unfortunately a lot of buyers and sellers do not understand or know what constitutes a material fact.....and thus their agents do not either and it can lead to complications down the road. A material fact as defined in Real Estate, is a fact that might have caused a buyer or seller of real estate to make a different decision with regards to remaining in a contract or to the price paid or received for the said property.An example would be that I am listing a home for sale. In conversation with the seller of the home they inform me that the house had major water damage when a pipe broke about a year ago. I know that the damage had been repaired....but do I owe it to potential buyers to inform them that there was significant water damage to the house? Would it affect the value that they feel the house is worth? Would it affect whether they put an offer in on the house? The answer to all of those questions is yes. On the property disclosure statement it asks a lot of pertinent questions in regards to issues that would be a material fact to the house....That is why some agents scrutinize the property disclosure statement carefully. But not everything is listed on that form.....But a home owner is not required to disclose any material facts. however; as a Real estate agent we are required by law to disclose any know n material facts about the house that could affect the value of the house or the buyer/seller decision to buy or sell the house.....With that said, most sellers tell their Realtors what is wrong with the house. I know that I ask every time I have a listing if there was anything they did to the house or any repairs that were done to the house....Based on those answers you can probe a little more to find out if the repairs were done out of normal maintainence and wear and tear or if they were done because of an issue that was found out because of the damage.....By not asking these questions a lot of Realtors feel what they do not know they cannot tell...But the reality is that our job is to know and find out and ask the questions. If we are not doing that; then we are not doing our job. As a seller you need to careful...if we are not asking you the questions are we asking the listing agent the questions on the house you are considering buying?I am a strong believer in Karma...What goes around comes around...By treating people the way we would want to be treated removes all doubt and confusion form the transaction..... Dave diCeccoRealtor/Brokerwww.davedicecco.com

Property Disclosure Statements--What Do You Check In NC.?

2011-12-01T14:48:00.001-05:00

Property Disclosure statements in North Carolina are mandated with every house that is listed (unless the home is a foreclosed home). The property disclosure statement asks a lot of relevant questions and helps provide information to the buyer that can help them make a better more informed decision. As A Realtor in north Carolina we can assist and help with the filling out of ALL the paperwork for a listing EXCEPT for the north Carolina property disclosure statement. this form MUST be filled out by the seller(s). As a Realtor we can explain the form and the choices they have to make but cannot fill out the form for them or steer them to a certain way to fill out the form.For those not clear what is on the form...it is a pretty basic form that asks questions about the age of the structure, heating, A/C, plumbing, roof, easements, issues with the house, etc.... the seller has the option of checking yes they know there is an issue with it, no they are not aware of an issue with it or no representation.A vast majority of people will check either yes or no on the property disclosure statement. Some will go with no representation. What the seller chooses is the sellers choice. You cannot dictate to me that my seller has to answer any questions on the property disclosure statement if they wish not to.....The reason I bring this up is that a Realtor has asked me to have my seller redo the property disclosure statement and answer a list of 15 questions (there are only 21 on the whole form) . She felt that since she owned the house she has to answer these questions.....Sorry, but no she does not have to answer the questions.....This may be a buyer's market to a point but when it comes to what a seller wants to disclose and knowingly discloses; that is up to the seller. In this case the seller has moved and been out of the house for over 2 years. By not living in the house the for over 2 years she is unaware of any issues...but also does into want the liability if she says she knows there is no problem when in fact there is one. So she checked no representation.This is why buyers do inspections.... the property disclosure statement is designed to provide information the seller is willing to to give. Now, if the Realtor knows a material fact about an issue with the house and the seller does not disclose it; then the Realtor has to disclose it (that is for another blog).. The point is the seller has the right to choose what to disclose and what to not disclose. regardless of what the seller writes or checks off the buyer and the buyer's agent needs to do due diligence and make sure that the house is what they expect and that there are no issues that would affect them or the purchase of the house......Dave diCeccoRealtor/Brokerwww.davedicecco.com

NoDa/The Arts District----Market Report November 2011

2011-11-30T15:05:00.001-05:00

NoDa or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. Below is the market trends over the past three years for the area from November 1st to october 31st.3 years ago there were 43 homes that sold for an average sale price of $242,541. They were on the market for an average of 62 days.2 years ago there was 24 homes that sold for an average of $235,046. They were on the market for an average of 161 days.Last year there was 30 homes that sold for an average of $183,117. They were on the market for an average of 113 days.Currently there are 31 homes actively on the market for an average asking price of $250,258. They have been on the market for an average of 182 days.There are also 7 homes under contract. These homes have not closed yet. They have an average asking price of $277,000 and were on the market for an average of 191 days.Based on the current market conditions inventory levels are still high in this area. A six month supply of inventory is considered to be a blanced market. Currently there is a little over a year supply. this bodes well for buyers in this area right now. Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. 28105 November 2011

2011-11-29T14:07:00.001-05:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families love the location to the highways, the great schools and family like atmosphere with children playing in the park or riding bikes through the cul de sac's.Below are the market trends for Crestdale Crossing for the past three years. This will give you a good idea of how the housing has trended in there. These numbers are from November 1st through October 31st.3 yearsa ago there were 4 homes that sold for an average sale price of $116,500. They were on the market for an average of 15 days.2 years ago there were 5 homes that sold for an average sale price of $118,350. They were on the market for an average of 72 days.Last year there were 5 homes that sold for an average of $92,120. They were on the market for an average of 70 days.Currently there are 2 active listings in Crestdale Crossing for an average asking price of $80,750.There are also 4 homes currently under contract that had an average asking price of $89,875. based on the current trends the market in crestdale crossing favors neither a buyer or a seller. There is approximately six months worht of inventory on the market right now and that equates out to a balanced market....Dave diCeccoRealtor/Brokerwww.davedicecco.com

New Listing: 1304 Forest bluff Drive Midland, NC. 28107

2011-11-28T09:51:00.001-05:00

1304 Forest Bluff Drive in Midland, NC. 28107 is a beautiful one and half story 2900 square foot home that sits on over 1.6 acre lot. The home features 3 bedrooms and 2 full bathrooms all on the main level. In addition the floor plan is very open. As you enter this brick home you instantly notice the wonderful hardwood floors that accent the whole lower level of the house. The floors are well maintained as is the house and it shows. Upon entering you are greeted by the formal dining room to the right. A large formal dining area that can comfortably sits a table and six chairs currently with space for expansion. What I noticed right away was how the room flowed into the living area of the house and the kitchen.....it kept the house nicely flowing without feeling it was separated from the other part of the house.As you go down the foyer you enter the extremely large open family/living room. This was designed to be the central point of the house. It has a nice brick fireplace that accents the back wall and a built in bookcase and TV stand. What stands out besides the space is the flow of the room into the kitchen area and dining area of the house...Off the family/living room is the oversize kitchen. the kitchen was designed to be able to entertain while cooking and is open enough to allow for more than one person to be working in there at the same time. The kitchen features a nice tile counter top with matching back-splash. In addition you have the built in oven and microwave. On the island is the cook-top and the grill top as well... There is a large eat in area in the kitchen overlooking the side yard as well.The bedrooms in this house are split. The master bedroom is located off the kitchen and is one of the largest I have seen. Situated in the back part of the house it is large enough to fit a king sized bedroom set and have room to spare. From the master bedroom you enter the master bathroom. A beautiful work of art; the master bath features an over-sized dual shower and a jacuzzi tub. between the master bedroom and the master bathroom is a large walk in closet as well....On the other side of the house is the other two spare bedrooms and the second full bathroom. Both bedrooms are very good sized and have large deep walk in closets as well.Venturing upstairs you get the over-sized bonus room/office. The upstairs features a large bonus room which is currently being used as a entertainment room. With two beautiful skylights bringing in natural light the room is very open...the layout has made it conducive to create a home office in apart of it as well....this opens the possibilities of what this area could be used for.But some of the best features of the house are in the back yard area. There is a wonderful screened in porch that wraps around the back part of the house overlooking the in ground swimming pool that has just had a new pool liner and pump installed this past year. Then you have the wonderful view of the side yard as you sit on a corner lot..... This home is conveniently located only 10 minutes from 485. In addition you are only about 30 minutes from uptown Charlotte and 15 minutes from Harrisburg. it's nice central location make it a very attractive alternative to someone not wanting to live in the city.You can view a video of this house at : http://www.youtube.com/watch?v=OlEtw7SnSU0Dave diCeccoRealtor/Brokerwww.davedicecco.com

Thanksgiving--What This Charlotte Realtor Is Thankful For

2011-11-23T04:33:00.001-05:00

Tomorrow is Thanksgiving Day. Traditionally a holiday we spend with our families. For most people it signifies the start of the "Holiday Season". For others it marks traditions with families that they look forward to each and every year. For others it is a time to reflect back and be grateful for what the year has brought...... This year, Thanksgiving has brought many emotions and meanings to me. Some I never gave much thought to in the past. others that are new for the year. For me it has always been about being thankful for what I have. Growing up; I was always taught to be thankful for what you have because it was more than someone else had and wished they had. We also had the family traditions of getting together and celebrating the day as a family. As i grew older I started to create my own traditions with my family. One thing i did was remember to be thankful for what i had and to teach my children the same; we would volunteer at the local soup kitchen and help with Thanksgiving dinner for those who did not have a family to go home to. Spreading a little love and smile into someone else life gives you a better appreciation of the one you have.As a Realtor I have many things every year i am thankful for. I love my job and it shows. I enjoy meeting new people every year and making friendships that last a lifetime. I enjoy seeing the smile on someones face when at the closing table they have signed the last piece of paper and realize that they now own their first home. The joy I get out of helping someone sell their home...The list goes on and on......However; this year (actually the past 5 weeks) has added a new perspective for me on Thanksgiving and the meaning of what it is. My oldest daughter lost her mother in October to an unfortunate accident in her house. The tragedy was compounded when it was revealed she was dead for almost three days before anyone found her. Explaining to a 14 year old that your mother has passed away is tough enough....when she realizes it took days before they found her was sad and lonely. She will never again be able to call her or text her...the holiday's this year will be marked by an empty feeling with the loss of her mother....yet, I admit every year when my family and i sit down for Thanksgiving dinner we are remembering what we are thankful for...but the greatest gift we all should be thankful for is there with us...our family. Yet, in all the things I try to teach my children; the one thing I guess I have overlooked is the fact that the greatest gift we can be thankful for is there with us that day.... and it usually is because we never think it will be us that is without someone until it happens to us....Happy Thanksgiving from my family to yours...Dave diCeccoRealtor/Brokerwww.davedicecco.com

Foreclosure Filings Down In Charlotte, NC. for 2011

2011-11-14T11:16:00.001-05:00

Everyday it seems somewhere in the news the stories are out there about how bad the housing market is and that foreclosures are toppling the market. Being in the business everyday someone is asking me if the market is getting better or worse....One indication of home prices seems to be the amount of homes that are in the foreclosure process. This means homes that the banks have begun the foreclosure process on. not all of these people will foreclosure on their homes. Some will work out a modification of their existing loan, others will short sale their homes and unfortunately some will lose their homes to foreclosure. But, nationally as well as in Charlotte north Carolina the trend of foreclosure filings is down. Nationally year to year it is down 23%. In Charlotte the amount of filings are down 34% from last year. What does all that mean?Well less people are falling behind on their mortgage payments this year than last year for one. A good sign that the economy and the housing market can start to climb. The fact remains is that we will have foreclosures. it is an inevitable part of our business....Trying t minimize the amount can go a long way to stabilizing the housing market and the economy as a whole.despite all the gloom of foreclosures out there North Carolina ranks 34th in terms of foreclosed homes. The press has done a great job of making this sound worse than it really is.... With the economy in question and a presidential election around the corner painting a gloomy forecast does well for ratings. But the reality is that the less foreclosures out there means that the "great deals" out there are going to be harder to come by.... I have written in earlier blogs that inventory levels are at record low levels, couple that with fewer foreclosure filings, and historic low interest rates and you have a great mix for buyers to get a low payment on a house and for sellers to sell their homes right now.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Should I Short Sale In Lieu Of Foreclosure?

2011-11-03T05:58:00.001-04:00

The question of whether to short sale a home in Charlotte, NC. or just give it back to the bank has come under a lot of scrutiny over the time. I talk to a lot of families that are weighing that issue on a daily basis...What shocks me is that attorney's they initially consult tell them that a short sale is "not worth it and the Real Estate agent is the only one making money".I do not practice law nor give any legal advice when ti comes to a short sale or a foreclosure. But there are certain facts that attorney's leave out when discussing the difference between short sales and foreclosures.First, the impact on your credit has shown to not be as dramatic on a short sale as a foreclosure. Your credit is going to take a hit in regards to your credit score. but the impact on your score has proved to be less when you short sale a home than foreclose on one.Second, this is the one that always gets me. In order to qualify for a mortgage again the rule of thumb (this could change in the future) is that you have to wait SEVEN YEARS after a foreclosure to qualify for a government backed loan (FHA, USDA, OR VA type of loan). On a short sale I have lenders I work with that will approve someone with sufficient credit TWO YEARS after a short sale. Third, you can stay in the house and live there during a short sale all the way up to the closing on the house...Chances are that if you are in danger of losing your house you would like to have some control over when you leave the house versus the bank telling you to be out on a certain day.Fourth, despite popular media reports the banks do not want the houses back in foreclosure; they rather you try to sell them in a short sale and are more willing to work with you to get them sold that way. The additional costs associated with foreclosure and the carrying costs of maintaining the house during the foreclosure process and afterward has gotten to be extremely expensive for banks. I recently had a family that called me about listing their home. They offered the home back to the bank and the bank asked them to short sale the house instead of giving it back to them. They told him they have to many now and would prefer to work with him to get it sold rather than take the home back.A lot depends on your situation. however; find the right Realtor and have that Realtor explain the process and how they work with the bank and what is required out of you....if you plan on wanting to buy a home sooner rather than later a short sale is definitely more beneficial. Also with so many things now tied to your credit the less impact can have other financial implications on you. So, is a short sale more beneficial than a foreclosure? probably if done right......Dave diCeccoRealtor/Brokerwww.davedicecco.com

New Listing: 3512 Tilley Morris Road matthews, NC. 28105

2011-11-01T16:38:00.000-04:00

3512 Tilley Morris Road in Mathews NC. 28105 is a farmhouse style home that sits on almost a one acre lot. This 4 bedroom 2 and half bath home features over 3200 square feet of living space nestled in Matthews, NC.Located in one of the most highly desirable neighborhoods do to it's proximity to 485, and Charlotteand it's award winning schools. The home owner has done many updates to the house. It features a new architectural shingled roof that he had the leaf guard gutter system with drainage installed at the same time. They had city water line installed last year from the street as well. In addition the put in a new Trane heating and A/C unit for the lower level of the house and encapsulated the crawl space....Their intentions were to be in this house forever...However; do to economic times and family they are forced to sell... The house has been professionally painted and new custom shutters were installed at that time as well.There are many features to the house that give it a WOW feeling. I personally love the partially wooded front yard and rocking chair porch as you walk up from the driveway. it gives you that nice country feeling as you prepare to enter the house...When you enter the double doors you are greeted by the new tile flooring in the foyer area of the house. The floor plan in the lower level is very open and yet offers the privacy. There is a nice office room in the front part of the house and a large dining area great for entertianing. The focal part of the lower level is the spacious living room...A large wood burning fireplace with a hearth accent one wall and built in bookcases along the other show off the old world charm in this house.... The back part of the house has a large open kitchen with tons of cabinet space and counter-tops to go with the breakfast eating area over looking the completely fenced in yard.The charm of this house does not stop there...In addition to the staircase located in the front of the house there is a servant staircase in the back part of the house. They both lead to the upstairs and 3 very good sized spare bedrooms and a master bedroom that has ample enough space for a king sized bed and furniture in addition to a sitting area.but the focal area of the upstairs is the bonus room/rec room. This room runs the length of the house and is so large it is split into a pool table section and an entertainment section....A true man's cave....if you enjoy the outdoors you will love the level yard that the current homeowner had 30+ trees removed from and a stockade fence completely installed around the perimeter of the yard....Come and see why so many families enjoy calling this part of Matthews, NC. home......Dave discoRealtor/Brokerwww.davedicecco.com

New Listing: 3628 Oriole Place Charlotte, NC. 28269

2011-10-31T15:19:00.000-04:00

3628 oriole Place in Charlotte, NC. 28269 is located in the Mallard Creek Estates subdivision. This 22200+ square foot ONE OWNER home shows the pride and joy the home owner took with the house. The home sits on a corner lot that intersects two dead end streets...This makes the house very desirable and eliminates people driving through the neighborhood adding to the safety of the children playing outside. When you pull up you instantly notice the wood like setting the house offers...A very nice row of pine trees accent the left side of the house and the back and right side of the home back up to wooded lots. When you pull down the long concrete driveway you can enter the two car side load garage with ample space for a work bench area.Entering the front door of the house you are greeted by the hardwood floors that accent the foyer area of the house. But what I noticed most the first time in there was the brand new wall to wall carpet just installed (2 months ago) and the fresh neutral paint on the high walls in the living room/dining room combo.Going through the foyer area to the right you have the half bath and then leads you into the kitchen. The kitchen has brand new quartz counter-tops and all the appliances convey to the new owner. In addition there is plenty of cabinet space through out the kitchen to store all those cooking supplies. Utilizing the cabinets for cooking supplies becomes easier with the large double door pantry just off the breakfast area. Even with my large family (4 children) there was more than enough room in that pantry to store all the food i would need for weeks.What I love about the downstairs of the house is how the tiled kitchen area opens up to the family room. The family room is a nice open room with a gas fireplace accenting it on the outside wall...off of the family room is a wonderful addition which adds a lot of character and usefulness to the house.It looks to be a three season sun-room. But in actuality it is a four season (year round ) sun-room. With heat ducts installed from the house and a separate A/C unit this tiled room with glass all around is a great place for relaxing, watching the children play in the yard or enjoying a quiet evening.... When you go upstairs you are greeted by three good sized bedrooms and a full bath in the hall. The master bedroom has a cathedral ceiling and a wonderful large master bathroom. the master bathroom has a nice sized garden tub and a separate shower stall. Off the master bathroom is a good sized walk-in closet. This home has a lot to offer a new family......Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: NoDa/The Arts District Charlotte, NC. October 2011

2011-10-26T10:22:00.001-04:00

NoDa or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. Below is the market trends over the past three years for the area from October 1st to September 30th.3 years ago there were 45 homes that sold for an average sale price of $242,226. They were on the market for an average of 63 days.2 years ago there was 23 homes that sold for an average of $239,226. They were on the market for an average of 161 days.Last year there was 27 homes that sold for an average of $185,158. They were on the market for an average of 113 days.Currently there are 29 homes actively on the market for an average asking price of $258,883. They have been on the market for an average of 188 days.There are also 7 homes under contract. These homes have not closed yet. They have an average asking price of $258,000 and were on the market for an average of 125 days.Based on the current market conditions inventory levels are still high in this area. A six month supply of inventory is considered to be a blanced market. Currently there is a little over a year supply. this bodes well for buyers in this area right now. Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. 28105 October 2011

2011-10-25T08:35:00.001-04:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families love the location to the highways, the great schools and family like atmosphere with children playing in the park or riding bikes through the cul de sac's.Below are the market trends for Crestdale Crossing for the past three years. This will give you a good idea of how the housing has trended in there. These numbers are from October1st through September 30th.3 years ago there were 3 homes that sold for an average sale price of $109,333. They were on the market for an average of 13 days.2 years ago there were 6 homes that sold for an average sale price of $121,625. They were on the market for an average of 63 days.Last year there were 5 homes that sold for an average sale price of $92,120. They were on the market for an average of 70 days.Currently there are 2 active homes on the market for an average sale price of $88,450. In addition there are 3 homes under contract that had an average asking price of $87,567. They were on the market for an average of 131 days.Based on the current trends in Crestdale Crossing the inventory levels make it for a balanced market that favors neither the seller or the buyer.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Available Housing Inventory In Charlotte, NC. Decreasing Substantially in 2011

2011-10-20T14:11:00.001-04:00

Housing inventory is a good indicator of the housing market. generally this time of the year there is less inventory than the spring and the summer because people do not want their homes showed during the holiday's. However; the trend of available inventory has even the skeptics scratching their heads right now.There is a large consensus that the housing market did not begin it's crash until 2008. Prior to that we were in what they called a housing boom. During the time to available homes for sale in Charlotte, NC hovered between 7,000 to 8,000 homes on average for sale during any given month. With the amount of people out looking it was not easy to find a good deal and think about it...if you did that chances are you would have lost out on the house.Well, I like to look at numbers and I crunch them all day everyday trying to get a home priced right to list and help a buyer get a good fair deal on the buying side. One number I have been tracking that seemed to me to defy what I heard on the news was the inventory levels of homes available in Charlotte, NC.During the peak of the housing crash we were hovering around 10,000 homes available for sale. that was an increase of over 30% from the best days.... Thus the collapse and with it the housing prices have dropped with it. Thus making it a buyer's market.However; a trend seems to be happening (mostly in the past year). Housing inventory has decreased dramatically. In the last twelve months through September 2011 the available housing inventory has dropped by 16.8% to an average of 7442 homes for sale.... This trend downwards is a positive sign for the housing market... there are pessimists that will say it is a true indication...But do numbers lie?Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Is The Average Time Frame For A Short Sale In Charlotte, NC.?

2011-10-19T10:20:00.001-04:00

Short sales are by definition when the bank accepts to take less for the house than what is owed on the home. However; there is nothing short with a short sale in terms of time frame. A lot of short sales depends on the bank that has them. in addition to who the bank is the amount of liens on the house play a vital role in the process as well... Are you dealing with one bank and just a mortgage? or are you dealing with multiple banks and various mortgages and liens on the house? Your time frame for a short sale is dictated by those factors as well as the bank itself.First, if you are dealing with one bank and the home has only one lien on it the average time from an offer being sent into the bank and the bank responding usually takes from 45 to 60 days. This is an average. it can take a lot longer depending on the bank and how accurate your information you sent in was...If you are missing paperwork the time frame increases because you have to fill in the blanks (so to speak) before they will assign it to a negotiator. I have dealt with banks that have taken up to six months and longer for a response as well...some Realtors in the Charlotte area will avoid dealing with those banks all together... It depends on the bank you are dealing with....If there are multiple liens on a property it gets a little more complicated. because after you have one negotiated out you have to go to the other liens and make sure they will accept the dollar amount the first lien is offering them. They are not obligated to accept any amount the first lien has offered... however; if you have done it correctly and stated your claim properly then you can usually get the second lien to accept. The time frame is also dictated by how quickly the seller responds and sends to the bank the necessary information to the bank. Everyday that they delay in getting the information to them adds time to a file and decreases your chances of getting a quick resolution.So, if you are considering selling your home and have to short sale be prepared to provide the bank with the necessary documents supporting your income and bank accounts. The quicker you provide the information the easier it will be for the bank and your Realtor to negotiate on your behalf.If you are looking to buy a short sale in the Charlotte, NC. area be prepared when you look at the house to wait upwards of 60+ days before you receive an acceptance or counter offer back. If you can wait the time frame out the chances are you can get the house for a fair value (something the bank would sell the house for if it were a foreclosure). Dave diCeccoRealtor/Brokerwww.davedicecco.com

Charlotte, NC. Short Sales--You Need A Hardship To Qualify

2011-10-18T09:00:00.001-04:00

With short sales still dominating the market in Charlotte, NC. there is a saying that if you are not behind on your monthly payments you can not do a short sale....This is totally wrong. Granted most people that are contemplating short sales are behind on their mortgage and circumstances have led them to that option in lieu of losing their home to foreclosure.The truth is that in order to qualify for a short sale one needs to show a hardship that was not their before. One example of hardships are loss of job. This is the most common one among families in the Charlotte, NC. area that are looking to do a short sale. With unemployment still relatively high they don't make enough with unemployment to carry the existing mortgage payment. they dwindle through their savings account and retirement to maintain their home in the hope that they will secure a job soon and replenish it...Unfortunately that time never comes.Another one is that you need to move for a job. I have had a few of these situations in the past year. Either they lost a job or were told to move for their job and the company would not help them with relocation to another area. They are unable to maintain a new residence and keep up with the existing mortgage payment...and they know the house is worth less than they owe on it.Third type of hardship that is common is medical issues.... This is an unfortunate one that can catch anyone off guard. But medical issues that hinder your health and affordability of a house can be a sufficient reason for a short sale.A fourth one that I have seen a lot of lately is to take care of elderly parents who are unable to care for themselves anymore. With the cost of assisted care so high they cannot afford to place them in a home. So the only option is to move in with their parents in order to help make their last few years as enjoyable as possible these are just four examples of some of the types of hardships that can be used for a short sale. There are more than this. these are just the most common ones. But if you are contemplating a short sale and you make enough money to pay the mortgage and the reason you want to short sale is because of the value of your home the bank will reject your application.The difference is the banks have the right to say NO. mainly because they are looking at this as an alternative to you losing the house through foreclosure. With a foreclosure there is a lot of red tape and paperwork that is involved. In addition it costs the bank significantly more than if they were able to get the home sold before hand....but they are looking at all the financial records and reason why and deciding form that whether you qualify for a short sale or not. I have had families want to short sale because of the loss of equity and were willing to fall behind...However; banks will look at your financial records and pay stubs and if they feel you can make the payment. So, be sure that you have to short sale or you will lose the house or you will not be able to get the bank to approve a short sale. Dave diCeccoRealtor/Brokerwww.davedicecco.com

Why Are Charlotte, NC. Short Sales A Good Deal?

2011-10-17T19:20:00.001-04:00

There are a lot of homes for sale...In Charlotte, NC. approximately one third of all sales this year have been either bank owned or short sale homes....So why are they such a good deal? Are they really a good deal.A short sale has the potential to be a great deal for the buyer and the seller. The buyer can get a home they want at bank owned pricing...The seller can sell the home without going through a foreclosure. But there are certain things to remember when looking to buy a short sale home....If it is to good to be true then it probably is. Most Realtors start the price of the home at fair market value and then begin the decrease the price accordingly if there are no offers until they get to a certain point where they receive an offer on the house.The good thing is that the bank will know what the starting price is and what the price has been lowered to and at what number it took to receive an offer on the house....That is generally the number the bank can expect to receive for the house.I have negotiated my fair share of short sales on the seller side. One thing I always do is start at fair market value and lower accordingly based on showings and feedback until i receive an offer. When i receive an offer I send in the complete history of the pricing strategy i used from the original price to the asking price before I received an offer on the house. In addition I include all the feedback on the house. This helps me justify my price to the bank and help with the appraisal value of the house. if that number is significantly higher I have had banks ask for a second opinion and have sent supporting documents in to help justify the price I have the house marketed at... not always but most of the time it has gotten me the price I needed for the house.Short sales can be very beneficial and a good buy for prospective buyers. just know when you go in that there may be a wait time longer than anticipated if you were negotiating a regular conventional sale with a seller....but if you can wait the price and the deal would be worthwhile to both you and the seller....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Should I Have A Home Inspection On My Charlotte Home Purchase

2011-10-12T16:04:00.000-04:00

Having a home inspection on your Charlotte home is probably the most important thing you can have done. There is a misconception I noticed lately with some of my buyers about whether they need to get a home inspection. There is never a reason for not getting a home inspection on your Charlotte home. The question comes up "but the house is bank owned or the seller is selling the home as-is; so why should I pay for a home inspection?" A lot of times you cannot notice things wrong with a house with the naked eye. Being a Realtor in the Charlotte market; I have looked at thousands of homes with buyers and sellers...And I do notice more now than before; but still miss a lot of things a home inspector notices. Even if you are purcsahing a home in the condition it is in and the seller will not do repairs; the home inspection is vital to the transaction. I think outside of the mortgage it is the next most important aspect of buying a house in Charlotte.Generally when you are purchasing a home you notice before you put an offer in if the home needs any cosmetic work and sometimes if it is in need of any repairs by visually seeing damage to the house. But what if there are repairs and work to be done to the house that you have not anticipated when making the offer? I had the perfect example of a house where from the naked eye it appeared to be in move in ready condition... however; after an extensive home inspection found issues with the house that were basically masked by the cosmetic work done to the house and never addressed the issue with the house...Without the home inspection my buyer could have spent upwards of $30,000 on repairs to the house that they were not anticipating when they put the offer in.Obviously, being bank owned we knew the bank was probably unaware of the extent of damage to the house; but without an inspection my buyers might have purchased a home that they would not have been able to afford to maintain....In cases where the homeowner is not the bank; you have the right during the due diligence period to ask for the repairs to be done. if the seller and you cannot agree on the repair request then you have the right to walk away form the house purchase only losing your due diligence money. A small investment of money can lead give you peace of mind when you get the keys to your new home.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Columbus Day And Being A Realtor In Charlotte, NC.

2011-10-10T13:39:00.001-04:00

Today we celebrate Christopher Columbus day. A day that is recognized for when he discovered the new world. the actual day is October 12th but we celebrate it on the second Monday of October every year. I thought back as I was beginning to write this to my days in school (many years ago) and what we learned about him. He set sail for the new world with three ships. Unsure of what he was going to find he set sail... Later that year he discovered the New world Being A Realtor in the Charlotte, NC. market has had it's fair share of ups and downs (just as it has everywhere in the country). there are people out there telling us that the bottom has not fallen out of housing prices and it will get worse before it gets better. On the other hand is the people saying we have hit the bottom and have nowhere to go but up from here...And those in the middle that think this may be the new status quo. Much like Christopher Columbus had his detractors who said he was going to fall off the end of the earth; there were others who believed that maybe there was something out there.... Is the housing market an ideal situation? NO. But are you listening to the detractors who are saying it is getting worse or the ones that think maybe it is getting better and there is a new World out there and they can see it in the distance.Like Christopher Columbus everyday as a Realtor I am asked the question and there are detractors that say I am crazy and there are others that say okay maybe it is the right time to sell or buy.....With historic low interest rates and purchasing power at it's highest; how can you not think you can see the vision of Home ownership like Christopher Columbus did the new world?... On a daily basis i am showing prospective home buyers how they can purchase a home for the same or (in most cases) less than what they are paying in rent right now.So, like Christopher Columbus I have my detractors out there saying I will wait to it gets worse and others who see the new World and are realizing the dream of home ownership.Where are you?Dave diCeccoRealtor/Brokerwww.davedicecco.com

Why NOW is The Time To Buy In Charlotte, NC

2011-10-06T10:16:00.001-04:00

The age old question everyone asks when it comes to purchasing a home is: "Should I buy now or wait to see if the prices go lower?" Waiting sometimes leads to losing the house you may want. other times it works out and the seller lowers the price and you get the house at the price you want it at. But, in this market and economy should you want to buy a home or purchase a home NOW? I have toyed with this question daily. There is no real right or wrong answer. It comes down to how much of a gambling person you want to be. but there are other factors involved that can affect the purchase of a home...one of those factors is the mortgage interest rate. Currently interest rates for a FHA mortgage are hovering in the high 3%'s to low 4%'s. We have NEVER seen rates so low. They go any lower we will have no interest rate. however that will not happen because of pure economics. But what impact does the low interest rate have on the purchasing of a home over the price of a house?I had a mortgage broker run a scenario for me based on principal and interest only in the payment. (since taxes and insurance are variables that are fixed). if you are looking to purchase a $200,000 home right now with an interest rate of 4%; you would pay $954.00 a month in principal and interest. Now let's say on the same $200,000 home and the interest rates was 5% (still an incredibly low interest rate). You want your payment to remain the same as if the interest rate were 4%. In this scenario you would need an additional $22,000 down payment to remain at the same payment.In essence, one point in interest rate can affect your buying power by as much as $20,000 or more. So, you may wait for the house price to lower another $5000. but what if during that time the interest rate went up even a half point (not uncommon). You still would be short $7000 to keep the payment the same.....Looking at purchasing a home right NOW in Charlotte may be a wise investment and move. Your buying power is at all time high. The interest rates are at historic lows and prices have not climbed as economists had hoped. the interest rates will have to go up and even though the housing prices may not your affordability will be less.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Buying A Charlotte Home...Get A Home Warranty

2011-10-04T12:10:00.001-04:00

When you purchase a home you are making the largest single purchase of your LIFE. the experience can be both exhilarating and frustrating at the same time. there are so many unknowns in buying a home. that is why people utilize local Realtors to help them with the purchase of a home. But there is one thing you can do to help protect your investment....Buy a Home Warranty.A home warranty is not like your insurance policy. this actually covers things that can and do break inside the house. The best analogy I always use is purchasing a car. You have insurance against accidents but a warranty against mechanical failure. A home warranty works in the same premise.I mentioned in an earlier post that sellers would be wise to offer a home warranty to buyers when they place their home on the market for sale. However; not all will do and not all can. For example, the bank will not give you a home warranty. they will give you a certain amount to your closing costs and if you have enough left after all the fees you can apply it to the home warranty. On a short sale the seller will not be able to offer a home warranty....They are walking away from the house for less than is owed on the house an the bank will generally not pay for the buyer to get a home warranty since they are already taking a loss on the house.But as a home buyer even if the bank, or seller will not pay for one...I advise everyone to get one. it is peace of mind. A home inspection will tell you what is wrong with the house. however; that is only valid on the day they looked at it. What happens if, say, 3 months after you move in something breaks? Now, you have just moved and closed on the house and probably bought some newer items and maybe paint...Do you have the money for the repair? Do you want to pay for the repair?A home warranty will cover you against those incidental things that can come up...With a small deductible (generally $50 or $60) you can have the peace of mind of knowing that it will be repaired. Considering they only cost around $400.00 a year it is a small investment for a large purchase.So, if you are buying a home and the bank will not give you a home warranty or the seller will not pay for one...purchase one. That minimal investment can save you thousands over the course of a year. Dave diCeccoRealtor/Brokerwww.davedicecco.com

Should A Seller Offer A Home Warranty With Purchase Of The Home?

2011-09-30T12:55:00.001-04:00

The question always comes up when I do a listing presentation on whether they should offer a home warranty with the house up front. My answer is always YES... i feel there are many benefits to offering a home warranty when you sell a home.Most buyers in this market are struggling to come up with the necessary down payment to purchase a house and cover part or all of the closing costs if they are not negotiated into the sale. A home warranty gives the buyer an extra value with the house and peace of mind. One thing everyone is always afraid of is that when you move into a house what if something breaks? how do I pay for it? I just spent my last of savings on my down payment on this house. That is where a home warranty acts a security blanket for prospective home buyers. it gives the home buyer the peace of mind knowing that if something does go wrong with the house they are covered for a minimal co pay (usually $50 to $60) per issue. I have had closings occur where the buyer's agent has told me the fact that we offered a home warranty up front gave their buyer's peace of mind when purchasing a home and made them want to look at the house more than some of the comparable in the area.....For a minimal cost the seller protects the buyer and enhances the value to their house at the same time. If I was looking for a house and found a few that were comparable and only one was offering a home warranty.... I probably would be more inclined to go view that house over the other ones. I want that security blanket. I correlate ti to buying a car. you look at a used car you are looking to see what is covered by the warranty and how long the warranty. The warranty on a car makes a large impact on whether you purchase that car or not most times.... Well the same can be said with a house. A buyer purchasing a house is making the largest purchase of their lifetime..... They are looking for that peace of mind as well...So, if you are selling a home consider offering a home warranty. it could make the difference between your home getting sold and not.Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Are Seller Concessions/Closing Costs?

2011-09-26T10:59:00.001-04:00

recently had two of my listings sell within a week of one another....Both home owners had been in their homes for at least 20 plus years.... So this process of negotiating a sale price for them was new. As with almost all offers today; buyers are requesting closing costs(seller concessions) for closing.but what are seller concessions/closing costs? in a nut shell seller concessions or closing costs are the amount of money the buyer is requesting that the seller pay toward their closing fees.... The dollar amount can vary depending on the price of the home and the loan amount as well as type....Typically, the buyers ask for somewhere between 3% to 6% of the contract price. On a $100,000 priced home the seller could be looking at netting $3,000 to $6,000 less than expected because of the seller concessions.it is important that you know what the fee is and how much they are asking for....Because that is an amount of money that you will be required to pay at the closing out of your proceeds toward the buyer expenses...Another issue that arises with seller concessions/closing costs among sellers is that the dollar amount can go up...NO. if the buyer asks for $3500.00 in closing costs and they need $5000 in closing costs they are responsible for the difference. You are only responsible UP TO the dollar amount you agree to pay.in this economy and with he housing market the way it is; you can expect on just about any offer to have seller concessions or closing costs associated with the offer....so, when you receive that offer on your house look at ALL the numbers before making a determination as to whether to accept it or not....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: NoDa/The Arts District Charlotte, NC. September 2011

2011-09-23T09:30:00.001-04:00

NoDa or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. Below is the market trends over the past three years for the area from September 1st to August 31st.3 years ago there were 46 homes that sold for an average sale price of $243,428. They were on the market for an average of 65 days.2 years ago there were 24 homes that sold for an average sale price of $239,821. They were on the market for an average of 156 days.Last year there were 29 homes that sold for an average sale price of $193,595. They were on the market for an average of 115 days.Currently there are 30 homes actively on the market in the Arts District right now. The average list price is $267,231. In addition there are 6 homes currently under contract right now. They had an average asking price of $247,483. They were on the market for an average of 108 days.Based on the three year trend 33 homes sell on an average year. With 30 homes actively on the market that leaves slightly less than a year supply on the market....A balanced inventory is considered 6 months supply. That would neither favor the buyer or the seller. Currently we are still in a buyer's market in this area of Charlotte.Dave diCeccoRealtor/Brokerwww.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. 28105 September 2011

2011-09-21T10:04:00.001-04:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families love the location to the highways, the great schools and family like atmosphere with children playing in the park or riding bikes through the cul de sac's.Below are the market trends for Crestdale Crossing for the past three years. This will give you a good idea of how the housing has trended in there. These numbers are from September 1st through August 30th.3 years ago there were 3 homes that sold for an average sale price of $109,333. They were on the market for an average of 13 days.2 years ago there was 6 homes that sold for an average of $121,625. They were on the market for an average of 63 days.Last year there was 4 homes that sold. They sold for an average of $92,875.00. They were on the market for an average of 69 days.Currently there is only one house on the market actively right now. it is priced at $84,900 and there are 2 other homes under contract.Even in a market where home prices have fallen and inventory is up...this quaint little community in Matthews, NC. has doen well with selling homes in a timely fashion.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

New Listing: 7905 Harrington Woods Drive Charlotte, NC. 28269

2011-09-19T14:35:00.000-04:00

Looking for a home with a WOW factor that is reasonably priced? This may be the home for you. 7905 Harrington Woods Drive in Charlotte, NC. 28269 is priced at only $199,900. This four bedroom two and half bath home features over 2500 square feet of living space on a nice .3 acre lot. With brand new wall to wall carpet, tile flooring and paint this home is ready for new home owners.... Curb appeal is outstanding on this home with the partial brick front and the two car garage with a side loading add to the curb appeal of this home. but what will stun you is when you walk in this house. The first thing i noticed was the beautiful high two story ceilings that greeted me on the wood flooring as i walked in. it gave the home a more open feeling. The great use of space in this house is easily seen as you walk through the lower level of the house. The house features a formal living room, formal dining room and a family room adjacent to the open kitchen. The layout is great for families and for entertaining. in the family room is a nice gas log fireplace and access to the large rear deck that runs the length of the house.... With an abundance of windows the feeling of openness and light protrudes through every corner. On the other side of the main level is the room that I had a WOW moment on. The master bedroom is located on the main level.... it is a large master suite (yes I said suite not room). the room is broken into two parts. One for the sleeping are and the other for reading or leisure and included in that space is another gas fireplace. In addition to that you have your own private access to the rear deck from the master bedroom. Off the master bedroom is the master bathroom with a cathedral ceiling and gorgeous tile flooring. It boasts his and her sinks and a separate jacuzzi garden tub and glass enclosure shower stall. Also is a walk in closet that should hold even my wife's clothes (that is saying a lot).Go up the staircase and enjoy the overlooking view to the formal living room and foyer from the sitting area at the top of the stair case. Or venture down the hall to one of the three spare bedrooms...All very large.... In addition there is a full bathroom across the hall way from the bedrooms centrally located for them.Or if you prefer the outdoors; take a walk on the large deck overlooking the private backyard. the back part of the yard is tree lined adding to the privacy you receive with this house.... This home has features I would normally expect to see only in much higher priced homes....Conveniently located to major roads and shopping this home offers a lot of home for the money.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

What America's Got Talent and Realtors Have In Common

2011-09-16T07:41:00.001-04:00

People that know me; realize I love America's Got Talent...I find the show entertaining, funny and see some unique great acts over time. Well as season six came to a close on Wednesday night; I could not help but think how being a Realtor in this economy is a lot like the judges on the show of America's Got Talent. They are looking for that someone special...that next superstar. The person that without this show the world may never be be blessed with their god given talents. Wednesday night was one of the best feel good stories on the show for me..... A young man making a family with his wife and children. Supporting them by washing cars for a living....Now, after months of auditions and voting and elimination rounds he was crowned the winner of America's Got Talent. This man is going to be a great singer and have a nice career regardless if he won wednesday night or not...but none of it would have been possible without the show America's Got Talent.Well, like the show there are many people out there trying to realize the dream of home ownership. Lately I noticed commercials talking about whether future generations will be able to afford a house. I know growing up that was the American Dream (Get married, have your 2.2 children and buy a house with a white picket fence). As Realtors part of our job is to educate potential home buyers on the purchase of a home and guide them down the path to home ownership. I know a lot of Realtors do not like to deal with first time home buyers...personally I love them. There is a great joy in seeing a family or young professional realize the dream of home ownership; and helping them reach it.....First time home buyers have a lot of questions. And there are soem they do not think about that we as Realtors must explain to them along the way on the process and finding the right home for them. Most people do not realize that we are here to help them with the purchase of a home and guide them through the process. I am amazed daily at the amount of people I talk to that can purchase a home but never believed they could....Like you; I remember clear as if it were yesterday the first house I bought. I also remeber thinking I cannot buy a home; until a Realtor explained to em I could and helped me along the path to home ownership.So, as Realtors we are a lot like America's Got Talent....we help people realize their dreams of home ownership and achieve it......Dave diCeccoRealtor/Brokerwww.davedicecco.com

Why You Should Contact A Realtor To Buy New Construction

2011-09-14T16:02:00.001-04:00

Many families today have choices out there when it comes to buying a house....One of them is purchasing of new construction. It can be a home that already is built (builder spec house) or one that you contract to build with the builder. There is one thing most (and I do mean most) families do not realize is that when you go into these model homes. Those friendly Realtors that you are greeted by and offer you there help work for the builder---NOT YOU. They are well trained to show a perception they are working for you....but the reality is that the builder pays them...not you.There job is to sell the homes that the builder builds for the most amount of money...Our job as a buyer's Realtor is to help you find the right house (new or old) that fits your needs for the fairest price.To protect YOUR interests when buying new construction you should have a Realtor accompany you to the negotiation and purchase of the home. Chances are you have not purchased a home in a few years (for some it is the first purchase). A Realtor can help you with decisions about what to ask comes in the house. Options that you may not think of or know about that we do because we do it everyday. We can help you with the negotiations on the price and options. help you make an informed decision on the financing terms offered by the builder......Surveys have shown that home buyers that walk into and purchase a new construction home with the aide of a Realtor (not working for the builder) come out on average almost 10% better between price and financing terms over the 30 years..... Think about that for a minute. if you are buying a $200,000 home that is potentially $20,000 saved with the help of a Realtor...and the best part is the builder will pay us to help you...So, it costs you NOTHING......Dave diCeccoRealtor/Brokerwww.davedicecco.com

When Do You Contact A Realtor For Buying A House?

2011-09-12T07:38:00.002-04:00

All of the studies that we read say that over 90% of homebuyers begin their search for a home online....When do you contact a Realtor? When is the right time to contact a Realtor? These are questions asked each day..... I talk to various home buyers online that say I am a month away and others who say I am six months or more away...but I always get the same question..."should we be talking now or closer to buying?" Now ther is no magic time frame on when to contact a Realtor. Some prefer to do it in the beginning of the process. A time when they have decided to consider looking for homes, not sure what is out there and have no particular time frame in mind for buying. For some this is the optimal time to contact Realtors and see which ones work best for them....Not all Realtors are the same. Sometimes finding one that works best with you takes a few different meetings with different ones. A Realtor can help you narrow areas and homes for you so you are not spending hours looking through various websites for homes and give you a better understanding of the processes and time frames needed to find and close on a home.Others prefer to do the intial research online then contact a Realtor when they have narrowed down what they want in a home. I know when my wife and I was looking for a home last time we had a list of what we wanted and a budget we wanted to look in...Then we went out and visited open houses and drove by neighborhoods. Doing this we eliminated areas and homes. Once we decided on what we knew we wanted in a home we contacted a Realtor to help us out (yes I was not in the business back then).Still others prefer to do all the research online and then contact a Realtor when they have narrowed down their selection and know what exactly they want...This way they feel they have done all the necessary work and made a descision that is best for them.Is there a wrong time to contact a Realtor? NO. Is there a right time to contact a realtor? NO. It depends on you. As a Realtor I have dealt with professionals and families in all spectrums of the home buying process and each person is different and thus their needs and wants from a Realtor vary...But, contacting a Realtor will help give you insight into homes and areas. In addition a Realtor can direct you to various websites for a variety of information that may be helpful in your home search when certain factors are important.....i.e. schools, crime rates, public transportation, convience to shopping, commute to work.Whether you are at the beginning, the middle or the end of the looking process there is never a bad time to contact a Realtor...We are here to help you. I strive to make the home buying experience one of great joy and ease for home buyers. I beleive in treating each individual as I would want to be treated in the process; regardless of where they are in it....... Dave diCeccoRealtor/Brokerwww.davedicecco.com .

10 year Anniversary Of 9/11---I Will Never Forget

2011-09-10T12:51:00.001-04:00

Tomorrow marks the 10 year anniversary of one of the most devasting attacks on US soil. Most of us are to young to remember Pearl Harbor and the lives lost there....However; all of us are old enough to remember 9/11/2001.That day will always, in my lifetime, be a rememberance for me. I had the unfortuante experience of being in New York City in lower Manhattan at what is now called ground zero when it occurred. I watched as the rest of the country did in shock at what was unfolding before my eyes and not knowing what to do or what really was happening at that moment. I remember not being able to use cell phone and walking for what seemed like an eternity to get out of New York with hundreds of thousands of people. But despite all the tragedy that occurred during that day...I also witnessed some of the greatest moments in my life and ones that made me proud to be an AMERICAN and a VETERAN. I witnessed first responders (firemen, police officers, EMT'S) rush into the buildings with no regard for their own lives to try and save someone they did not even know...They were doing a job. Those brave men and women put their lives at risk to save people like you and me.I remember sitting glued in front fo the televison for hours on end after it happened for the next few days as they went through the debris looking for people still alive and yet never complaining once.

I lost a few friends during the devastation that hit New York City that day. I vowed that I would never forget them or that day. As the healing continues, I saw something that made me stop today and write this now. Driving by Presbyterian Hospital in Matthews, NC. there is a banner out by the entrance symbolizing the 10 year anniversary. What got me was located by the pond at the entrance way were american flags. One for each person that died during that great tragedy. The flags are placed under a weeping willow tree.... I stopped and visited that spot a few moments before sitting down to write this blog. I knelt, prayed and cried. I felt my heart fill up with sadness as I remeber watching the people that lost their lives for no apparent reason at all and the first responders who lost their lives trying to save ours.To all those that gave their life that day and ALL those that saved lives that day and beyond....THANK YOU....I WILL NEVER FORGET.Dave diCeccoRealtor/Brokerwww.davedicecco.com

What Are Special Assessments?

2011-09-07T09:54:00.001-04:00

Today when buying a home you have many choices availble to you...The market has been favoring buyers for the past few years and it looks like that trend will continue into next year. So, besides deciding on what to buy or where to buy you need to look at the community HOA. One thing that most people are not aware of is special assessments.Special assessments are additional dues that a homeowners association can charge each homeowner individually (though the amount is equal to all homeowners) to offset additional expenses in the community. Generally in a community made up of single family homes this is not common...However; I did run across one the other day where their poor financial planning forced the HOA to assess the members an additional amount of money... This additional fee was equal to the HOA fees they were paying a month at that time and was for a period of one year.More common is you will find these in townhome or condo communities. When you purchase a townhome or condo you basically own the four walls of your condo and the homeowners association takes care of maintianing the exterior of your place including the roof. Condos/townhomes tends to have special assessments when it comes time to replace roofs. Generally they are all built around the same time and the roofs lifespans make them come do at the same time....Without proper planning this can be a nightmare expense.In addition if the exterior of the building is in need of repair then the homeowers association is resposnible for that repair as well..depending on the type of structure it is (wood, vinyl or brick) the cost can be expensive as well....I always ask if there is an assessment scheduled or for a copy of the minutes from the last few months of meetings...That way you can see fi the discussion of repairs have come up and if you can expect a special assessment in the near future or not.The last thing most people want to do is move into a home and find out a few months alter that they are being billed an additional expense they were not anticipating.....Dave diCeccoRealtor/Brokerwww.davedicecco.com

What to Look For In A HOA Whne Buying A House

2011-09-05T12:15:00.001-04:00

HOA dues are more of a common factor in Charlotte North Carolina than they are in the northern states. If you lived in a condo/townhome you would pay a fee for the maintenance of the area and landscaping and snow removal.....However; generally neighborhoods were not built with such fees or amneties added to them.in Charlotte, NC. area this is a common fee since most newer subdivisons are built with some type of amenties attached to them. But what is it and how does it affect me purchasing a house? This is the question a lot of people do not ask or think about when they buy a house.....HOA fees are generally a monthly fee that the community charges for the maintenace of the common area, property taxes on that area and to maintain any amenties that the community may have. The amneties can vary from walking trails, playground(s), and swimming pool(s). With additional amenties come additional fees....One thing I am always looking for when a prospective homebuyer is looking to purchase a home in a community with an HOA is the cost. I have seem them run as low as $20.00 a month and as high as $599.00 a month (I imagine there are even higher ones out there; I just have not come across them yet). That is a large fluctuation. Then, depending on the association and the solvency of the community you want to check to see if they can raise them... Some HOA's have built in provisions that allow the board to increase the fees without the majority vote of the homeowners. Others (like mine) require a vote of the homeowners and must be approved by 75% of the existing homeowners. If you get into an association that raises fees every year that manageable amount every month can quickly escalate to an unmanageable amount. I talked with a prosepctive seller about selling his house becuase his HOA dues have tripled in the past six years. He said he could not afford to keep paying that in addition to the mortgage on his house every month....You want to know how solvent the community is as well...the reason his association kept raising the dues was becuase they were in financial distress...As the economy got weaker and people fell behind on bills this generally is one they stop paying on first....They did not have enough reserves set up to cover the expenses when people stopped paying. Cost of HOA fees are becoming more and more important as comunites struggle with staying solvent....Dave diCeccoRealtor/Brokerwww.davedicecco.com

New Listing: 8112 Sapwood Court Matthews, NC. 28104

2011-09-02T10:59:00.001-04:00

8112 Sapwood Court in Matthews, NC. 28104 is a two bedroom and two and half bath townhouse located in the desirable Park side community. This townhouse is being offered for only $99,900. Even though it is part of Matthews, NC. it is in the union county side of Matthews and the schools and taxes are reflected as Union county. This town home has great appeal. With a partial front brick look the curb appeal stands out instantly as soon as you drive up to it....Nestled in the back corner of the complex it brings added privacy to you as well. What I love about this townhouse is the spacious layout. Walking through it you get the feeling that the place is larger than it really is. The downstairs is adorned with gleaming hardwood floors in the kitchen, foyer and breakfast eating area. Definitely a huge plus to the home. I love how the eating area opens to the front of the house with large windows bringing in the warm beautiful sunlight first thing in the morning..... On the back side of the lower level is the great room. A large open room that has endless possibilities for it's use. I have seen families break it into two separate parts because of it's size. Adorned with a gas fireplace it adds to the warmth of the house and the cozy feeling yet gives you the space to entertain and enjoy the room.Going up the stairs you are instantly greeted by a little small landing area which makes for a great reading place...Also you will instantly notice the enormous size of the two bedrooms upstairs. The master bedroom is not only spacious enough to fit a king size bedroom set but the trey ceiling in the room adds to the luxury feeling you get inside this townhouse.Off the master bedroom is the master bathroom with a his and hers vanity and a tub shower combination. On the other side of the bathroom is the extremely large walk in closet... there is even enough space in the closet for him to put his clothes. (though you may want him to use the other so you can purchase more clothes).Across from the master bedroom is the second bedroom... This is as large as the master bedroom and the room can be utilizes in so many ways. with a large closet backing up to one wall it leaves the space open to the imagination. In the hall there is the second full bathroom which is designed for the spare bedrooms use. In essence you have a separate bathroom for each bedroom. if the space inside the townhouse does not sell the place for you...then step out on the beautiful private back patio..The current homeowner has planted beautiful flowers to adorn the area and it backs up to a wonderful open field and walking trails a few hundred yards from there.This townhouse is conveniently located off exit 52 off of I485. Only about two miles from the highway it offers easy access to commuters and is conveniently located to major shopping and stores....Dave diCeccoRealtor/Brokerwww.davedicecco.com

Matthews, NC. Labor Day Weekend----MATTHEWS ALIVE

2011-08-31T13:28:00.000-04:00

Looking for something fun to do this labor day weekend? Come to Matthews, NC. for the annual Matthews Alive festival held every year during Labor Day weekend. This year the event starts on Friday September 2, 2011 and ends on Monday September 5, 2011. This is a great fun filled family attraction.

In the seven years I have lived in Matthews, NC.; a year has not gone by that I have not visited Matthews Alive. Each day and night there are different bands and musicians playing on one of the three stages set up. There are carnival rides and games for the kids ( and kids at heart). Large arts and craft show, various food vendors and other family oriented events.

Do not miss the parade on Saturday morning. This is the LARGEST Labor Day parade in the Southeast ( who would think a small town like Matthews NC would be such a large attraction for labor Day?). It starts at 10:a.m. SHARP. Come see the various bands from area high schools, floats and organizations throughout Charlotte for this great event.

The part that attracts me most to go to Matthews Alive (besides the great fun and memories it brings) is that 100% of all the profits are given back to the local charities and organizations in the community....This is a fundraiser but not one for the town of Matthews...but one for the local charities in Matthews and the surrounding area that help out families...it makes it even more worthwhile knowing I not only get to have fun; but my money is going to worthy causes....

I hope to see you all there this weekend...I know you will not be disappointed.....

http://matthewsalive.org

Dave dicecco
Realtor/Broker
www.davedicecco.com

Charlotte, NC. Schools..How Do I Know If They Are Good?

2011-08-29T09:52:00.001-04:00

Lately I have been asked numerous times through various websites and on the phone about the schools in Charlotte, NC. The question generally goes "I want this in a home and a good school for my kids".

Well as most people do not know as a Realtor we are bound by a code of ethics. One thing that we cannot do is steer soemone toward a particluar school or away from one....So where is the consumer suppossed to do if they cannot confide in their Realtor?

Over the years I have found various sites that provide information on the schools. Each site (listed below) offers a different perspective on schools. One is all about the numbers. How the students rate against other students in the school, district, and state. Others are more parent feedback oriented. Some mix a little of both together.

Is there a right or wrong school? Probably not. A lot depends on what you are looking for in a school (and having four children in the Charlotte Mecklenburg School system from elementary through High School ) and what your child gets out of it.......

I know from personal experience that some of my kids have done better than others....Basically because of the type of student they are.... But here is a list of a few websites that i found to be helpful when I moved to the Charlotte area. I pass these websites along to buyers when schools are important:

http://www.greatschools.org
http://www.ncreportcards.org
http://www.schooldigger.com/

These are all FREE websites that offer unbiased information on schools....if schools are important to you I advise reviewing all three sites. Though most times the information is the same sometimes you will get a different persepctive from one site verus another.

Dave diCecco
Realtor/Broker
www.davedicecco.com

A reflection On Back To School In Charlotte, NC.

2011-08-26T09:03:00.000-04:00

Yesterday marked the first day of school for the public schools in Charlotte,NC. For me as a parent I find it the greatest day of the year. The kids are out of the house and it makes for some quiet and peaceful time for me and my wife.

As with most first day's at school I received all the different forms from my four school age chldren that had to be signed and returned to school....In addiiton two of my children received homework on the first day. They were stunned...(dad was pleased). As I signed papers and monitored homework for the first night of school...I thought to myself I am always in school in some fashion.

Being a Real Estate agent in Charlotte North Carolina I am always studying and learning. I think back to my days at school and the amount of homework I had and remeber having the same reaction my children have (noone liked homework in school). Yet, as we live everyday of our lives and pursue careers and try to be the best at what we do...we are constantly learning new things and with the learning of new things comes homework.

Maybe not the same type of homework our kids get; but homework none the less. I am always looking at how technology is changing and how it affects my business. How do I incorporate that into my everyday work.

I am constantly looking at and doing market anaylsis to see how the neighborhoods are shifting in terms of price either up or down to keep my sellers abreast of the changes so they can make educated descisions on the price of their homes.....

I am searching out on a daily basis for homes for buyers looking for the best value for the money out there for them and honing on my negotiating skills to make sure I am representing them to the best of my abilities.

In addition, I am continuing my Real Estate education through classes and certifications to present myself as the best Realtor I can be for both my sellers and buyers.....

So, this week may be the first day of school for our children....but does school really ever end for us if we want to be the best at whatever it is we do?.....

Dave diCecco
Realtor/Broker
www.davedicecco.com

Market Report: NoDa/The Arts District Charlotte, NC. August 2011

2011-08-23T08:54:00.002-04:00

Conveniently or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. below is the market trends over the past three years for the area from August 1st to July 31st.

3 years ago there were 42 homes that sold for an average sale price of $239,738 and they were on the market for an average of 60 days.

2 years ago there was 31 homes that sold for an average sale price of $236,593. They were on the market for an average of 136 days.

Last year there were 26 homes that sold for an average of $197,641. They were on the market for 116 days.

Currently there are 33 active homes listed for sale at an average asking price of $266,071. These homes have been on the market for an average of 150 days.

In addition there are 5 homes currently under contract and they have been on the market for an average of 142 days. The asking price of those homes was $250,468.

Based on the availble inventory of homes and the 3 year average of homes sold; NoDa has a one year average of homes on the market. In a balanced market (one that favors neither the seller or the buyer) the optimal balance is a six month supply. The trend is showing that the market in this area of Charlotte still favors the buyer.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. August 2011

2011-08-22T10:55:00.002-04:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families location to the highways, great schools and family like atmosphere make it a popular destination among families and empty of.

Below are the market trends for Crestdale Crossing for the past three years. This will give you a good idea of how the housing has trended in there. These numbers are from August 1st through July 31st.

3 years ago there was 3 homes that sold for an average sale price of $109,333. They were on the market for an average of 13 days.

2 years ago there were 5 homes that sold for an average sale price of $119,550. they were on the market for an average of 67 days.

Last year there was 5 homes that sold for an average of $100,700. They were on the market for an average of 71 days.

Currently there are two homes actively on the market right now for an average asking price of $87,375 and they ahve been on the market for an average of 111 days. There is also 2 additional homes under contract.

Based on the average trend of homes that have sold; Crestdale Crossing is a stabilized neighborhood that favors neither the seller or the buyer. In a perfect balanced market there is a 6 month supply of homes. Based on the trend the past 2 years it looks like Crestdale crossing is at a position where it neither favors the buyer or the seller currently......

Dave diCecco
Realtor/Broker
www.davedicecco.com

Matthews, NC. Back To School Fun Night 2011

2011-08-18T10:19:00.002-04:00

This time of the year I am always telling my four kids is the happiest time of the year for me as a parent. It is the time when we ramp back up for school.. Summer is just about over and the kids get back to the daily learning and enriching of their minds (at least we hope so). So, as we finish our back to school supply shopping, clothes shopping and those last minute getaways....Matthews, NC. hosts a fun family filled event to kick off the end of summer and the beginning of school.

Part of the Matthews summer movie/concert program; on Saturday August 20, 2011 at stumptown park in downtown Matthews they will have a FREE movie ( tangled) and other activities and games for the kids. In addition there are vendors there offering various foods....

if you have never been to one of their concerts/movies you do not know what you are missing. the activities start around 6 p.m. and the movie starts around dusk (usually 7:30ish). Bring a picnic lunch, some lawn chairs and have fun....

they have moon bounce and other games for the kids at no charge....There is usually a clown there making balloon animals for the kids and other assorted activities to keep the kids entertained.

My family and I have made it a yearly tradition over the past several years and even though my kids are getting older they still look forward to the going to the park for the school kickoff.....

Here is the link for the event..... http://www.matthewsnc.com

Dave diCecco

Realtor/Broker

www.davedicecco.com

Rent V. Buy in Charlotte, NC.? Which Option Is Better?

2011-08-17T08:43:00.002-04:00

The question is asked each and everyday by prospective home buyers...Should I rent or should I purchase a home? What is the best route for me to go? That question has many answers. But for the sake of this blog...we will say you have the down payment and your credit score qualifies you for a home purchase.

I see a lot of young couples and professionals moving to the Charlotte, NC. area. The reason is that they are either being transferred to here or they are coming here for a new job. One of the things they all ask is should I rent or should I buy?

Now, everyone is different. Sometimes your needs and wants do not translate into buying right away. But if you are wanting to buy but on the fence to whether you should pull the trigger and actually look at homes and buy....you need to consider a few factors.

What would I accept for a rental? By this how many bedrooms and bathrooms must the place have? Does it have to be in certain area? Am I looking for amenities? Space? is my things going to fit or am I going to have to get a storage unit as well? What am I willing to pay a month for rent?

The answers to those questions coupled with what you are looking for to purchase and how much you are willing to spend along with the same questions above can give you a good comparison as to affordability and whether it is less expensive to rent or own.

Trulia posted their second quarter numbers for rent versus buy yesterday. Charlotte ranked right in the middle. Rent was slightly less expensive but home ownership still may be a better option. Why?

Interest rates are at historic lows. With the federal government stating it will not raise the interest rate until 2013 has kept the rates historically low. That coupled with the fact home prices in Charlotte, NC. are at 2006 levels (according to numerous studies out there) has made it even more affordable for people to own a home.

So, even though Trulia states on an average 2 bedroom rental is slightly cheaper to rent than own the option is still one that they say you should consider buying versus renting. This trend has held true throughout most of 2011.

I have helped many new homeowners realize the dream of home ownership versus renting....In all cases they have lowered their monthly payments to less than they were paying in rent.

If you are renting now or moving to Charlotte area and thinking of renting you may want to consider looking into buying a house....It may cost you less than it does to rent.....

Dave diCecco
Realtor/Broker
www.davedicecco.com

New Listing: 2605 Daffodil Drive Charlotte, NC. 28269

2011-08-16T08:05:00.000-04:00

This 3 bedroom 2 full bath ranch home located in the Heather Place subdivision of Charlotte is looking for the next family to call it home. priced to sell at only $84,900 this home features just over 1200 square feet of living space with a one car garage located on a cul de sac lot.

The homeowner is the original homeowner and had this home built in 1998. When you walk in the front door you are instantly greeted by the foyer area of the house and the large great room. An added feature and benefit of the great room is the high cathedral ceilings in the room...Off the great room is the dining area of the house and the kitchen.

The dining area is good sized and comfortably will sit the whole family down to eat. The kitchen is spacious and open. A very well designed kitchen it offer a lot of counter space and cabinets. The kitchen also has a nice sized pantry and all the appliances convey with the house. A few features i liked and noticed right away about the kitchen was it's openness to the great room. It makes it a great place to cook while entertaining or talking with the family. The pass through and two separate entrances give it an open feeling.

On the opposite side of the house is the bedrooms. the master bedroom is surprisingly large for this house. The room can easily fit a king sized bed and couple of dressers and still give you space to walk around. Once in the master bedroom you will certainly be impressed with the walk in closet. large enough to hold all of your clothes. next to the walk in closet is the master bathroom. This bathroom offers a separate shower stall and a garden tub for those nights you want to just sit and soak in peace and tranquility.

off the master bedroom is the two additional bedrooms. they are both good sized bedrooms and offer ample space for a growing family. The front bedroom has a cathedral ceiling and a large window bringing in a lot of beautiful natural light into the room.

In the hallway between the bedrooms is the second full bathroom which offers a tub/shower combination. This is the other full bathroom in the house.

Going out the back patio door off the great room the first thing you notice is the lot. being located on a cul de sac location the lot is pie shaped. So it starts out narrow at the top and branches out toward the back. Great for families with children. The back of the yard has been fenced in along with the bordering neighbors. You quickly notice the depth the yard has to offer and the privacy ti brings. the trees offer shade and additional privacy....

besides the great features this house has it is on a cul de sac lot allowing children to ride the bikes or play in the cul de sac without having to worry about too many cars coming through. it also is so close to I85 that commuting to uptown or toward the university area is only a 10 to 15 minute ride.

Many people have called heather Place in Charlotte home....And those same people are still there. This is the only home in the neighborhood on the market today...in fact it is the only home in the neighborhood that has been for sale in the past 2 years. So, many people have called heather place home and none of them leave....So, come by and see why heather place is such a great neighborhood to live and raise a family.......

Dave diCecco

Realtor/Broker

www.davedicecco.com

Short Sale....Bank of America Nightmare

2011-08-11T08:41:00.002-04:00

Short sales are just a big part of the housing market today as foreclosures and resale homes. Chances are if you are looking for a home in a neighborhood at least one home in there is a short sale listing.

Short sales are anything but short in time. In fact the process usually takes 30 days or more to receive an answer. The bank is willing to accept less money than is owed on the house in lieu of a foreclosure.

We have all heard of the horror stories with short sales from the long process to never really getting an answer and the buyers giving up. I have done my fair share of short sales. Thus far on the listing end I have been very successful in getting them sold.

On the buying end I had an experience that shocked me. With an offer in on a short sale with Bank of America that is about a week old; I received for the first time the most unusual request. Let me premise this by saying we offered substantially low offer on the house because of recent storms caused roof damage that had torn off the shingles and sheathing leaving the plywood exposed in an area of the roof. After some due diligence I informed my buyer this will not pass through an appraisal in it's current condition. Thus he made an offer for paying cash.

The bank requested and we supplied photos of the damage and an independent quote on the repair and damage to the roof. Our offer fell in line with the damage and the lack of financing the house would qualify for.

here is the response form the negotiator the listing agent forwarded to me:

Please provide satisfactory evidence that the buyer has been approved for financing
or otherwise has funds to close the transaction. Satisfactory evidence would be ALL
of the following:
A letter from the lender showing final approval (not pre-approval), Or the DU
Preliminary Underwriting findings.

A receipt from the title company showing that the required down payment is on
deposit with them,

Something in writing from the title company confirming the closing date.
If it’s a cash buyer, we just need proof of funds on hand to complete the
transaction within 30 days.

Upon receipt of these documents, we will proceed with processing the postponement of
the sale date. No exceptions will be made. Upon receipt of the above items we will begin negotiations on the short sale. Thank you in advance.

This was fine by my client...until we read last line. So, we went back to the listing agent and asked her to find out if they accepted our price...the response she received was the same as she received initially....yet we still do not have a price. My client and I are confused....

What are we supposed to put in escrow? how much are we supposed to get our underwriting approval for? When are we able to close, if we do not have a price?

People and Realtors want to know why it is so hard to deal with Bank Of America on a short sale? These questions were sent from the listing agent to the negotiator and the negotiator response was the same as above........

This is the reason most, if not all, Realtors cringe when they hear the words Bank of America in a Real Estate transaction as a short sale.....

Dave diCecco
Realtor/Broker
www.davedicecco.com

Housing Inventory in Charlotte, NC. Decreasing

2011-08-10T09:32:00.000-04:00

One barometer that housing "experts" use to say whether the housing market is recovering is the available inventory of homes for sale. The greater the number of homes on the market the longer it takes to sell...Thus the worse the market is. A balanced market (one that does not favor the seller or the buyer) is one with a six month supply of homes on the market.

So, I was intrigued when I read an article in the Wall Street Journal the other day that said home inventories are decreasing nationally. Is it because the market is recovering or for other reasons?

I looked it up and the available homes for sale in the month of July 2011 versus last year was down 26.5%. I thought WOW that is a large number. It was looking very promising....

I then checked the months supply of homes on the market and was impressed to see it was down 15.7% from last year.

Then I decided to check home prices versus last year at the same time. Now, with inventory levels down the average home price should be up. (it might be a little to much to ask for 20%). But here was hoping... What I found was home prices actually dropped on average 1.7% from last year.

The numbers are saying mixed reviews. If inventory levels are down then home prices should be up. However; that is not the case. As I divulged a little farther you find that bank owned homes made up almost one third of the sales for July. in the peak of the market and when the housing market is good that number is probably closer to 10% or less...

Why does that make a difference? The banks will not generally do any repairs to a house and sell the home in it's current condition. Thus there sale price reflects the house in need of some repairs or cosmetic fixes that affect the value of the house and have priced the house according to that..

Whereas; a seller selling a home will have the house in a condition that allows the buyer to move in with minimal or any repairs. Thus they can command a higher price for the house.

With the amount of homes on the market decreasing there is a dual look at this. Most experts feel it is because of all the issues with foreclosures that banks are being more cautious on them and taking longer to actually foreclose on a home.....And with foreclosures so high rental demand has increased to such a point that it is driving up the rental rates.....

The increase of rental rates has spiked for me first time buyers out looking at homes. because now what was once affordable rent is no longer that and they can own a home for less than they are paying in rent.

Those factors are having an dual impact on the housing market. You are finding more buyers looking as their rental renewals are increasing and looking to see what options are available and sellers who can afford their mortgage payments but owe more than their home is worth are taking them off the market....

Either way, with decreased inventory levels the demand is starting to increase on existing homes on the market. That is a good sign for the housing market as a whole in the Charlotte, NC. region.

Dave diCecco
Realtor/Broker
www.davedicecco.com

What To Look For When Negotiating A HUD Home

2011-08-08T10:11:00.003-04:00

As we are all aware bank owned homes and short sales are increasing in percentage of sales of homes. As the number of foreclosures increased so did the inventory. Negotiating with a bank owned home is not the same as negotiating with a seller. Each bank or government runned foreclosure department runs differently.

HUD (which stands for Housing and Urban Development ) is one of the largest ones out there. In some ways they have made the process easier and in others they have made it more difficult. I have sold quite a few HUD owned homes and have worked through some of the kinks of negotiating with them. These are no steadfast rules but general guidelines that I have found that help with the negotiations on a HUD owned home.

One thing HUD does that none of the other banks do, is they acquire an independent appraisal of the house prior to putting it on the market. The appraiser is evaluating the condition of the house and giving an appraisal for the house in the current condition the house is in. or as often stated "as-is' condition.

When the house goes on the market HUD prices the house at that price. That is fair market value for the house in it's current condition. So, when you view a HUD house and are thinking of putting an offer in; check how long it has been on the market. The appraisal is probably a few weeks (at most) longer than the date the house went available for sale.

Know that HUD is figuring on getting close to that number (especially if it has just been listed) as possible. They will concede 3% of the sale price to closing costs for the buyer on financing contracts. So, if you are paying cash I inform my buyers to use that number as a discount on figuring a price for the house.

HUD will negotiate with the buyer. In the past HUD's policy was they either accepted your offer or rejected your offer. They now will offer you a counter offer. Generally that counter offer is the lowest at that time they will accept for the house. I went through one recent transaction where they offered us a counter offer and we re-countered them. They came back with the same number. We increased our number on three more different occasions and they countered at the same number each time. We got the hint...that was their bottom line on that house.

I tell everyone looking at a HUD house to view the sign in sheet. As a Realtor we are asked to sign in that we were there showing the house....I look to see if anyone else has signed in (not everyone does) and when the appraiser was last there. A couple reasons I do this. I want to know if any other Realtor has shown the house recently...this will tell me if I may have another buyer to compete against. The other is because of the appraisal.

HUD has the house reappraised every 120 days. This keeps the appraisal fresh. I recently showed a house and I noticed on the sign in sheet that the appraiser had visited the house the day before we did. That particular home had been on the market about 4 months at that time. My client was mulling over putting an offer in on the home. Two days later she decided to put an offer in on the house. As we were on the phone I pulled up to ensure that the house was still available for sale. Much to her delight we saw the house was still available and that they had just lowered the price $10,000. That was less than what she was going to offer them based on the comparable we looked at in the neighborhood. We bid and won the house.

Upon completion of the contracts I received the signed package and a copy of the appraisal which was dated the day before we put our bid in...By knowing that the appraiser was there and knowing that they change the price accordingly to the appraised value benefited my client this time... she got the house she wanted and at a better price than she had anticipated.

Another client looked at a HUD home that had been on the market for over 6 months. He put in a bid substantially lower than their asking price... They countered him less than he was willing to agree to on the house and he accepted... The longer the house sits on the market the worse it is for HUD or any of the banks. They tend to get more aggressive with their acceptance of bids.

HUD is selling the houses in as is condition. So, if you are looking at a HUD home and are in need of financing; make sure it qualifies prior to you putting your bid in. If HUD has the home as cash only....it will NOT qualify for a loan. if it states conventional then that is the only type of financing it will qualify for. If it says FHA then read the disclosure statement. Most homes that qualify for FHA have an escrow amount( amount needed for repairs to the house to make it eligible for financing). You will need to have that money set aside in a separate account or acquire financing that allows for those repairs to be done post closing.

HUD has made the process smoother in regards to placing offers on a house and negotiating with them. They give you quick timely responses (by the next business day) and taken out a lot of the guessing game from the process...... These guidelines in negotiating a HUD house are examples of situations and not necessarily what is going to happen every time.....But it should help you in formulating an offer on HUD property.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Why You Need A Realtor To Sell Your Home?

2011-08-04T08:16:00.000-04:00

In this economy many homeowners are looking for ways to minimize their expenses when they sell a home. A popular mechanism for that is For Sale By Owner (or more commonly known as FSBO). Despite facts that show these people tend to gravitate to a Realtor (approximately 80%) to help them sell their house....homeowners still hold faith that they can do what we have studies showing the percentage being as low as 3% do...SELL HOMES.

There are a few sites out there for people looking to sell their home on their own. www.forsalebyowner.com is the largest site. The founder preaches that you do not need a Realtor to sell your home has made millions off that promise. He preaches save the commission and sell it on your own you will make more money. For a nominal fee he will help you get your home sold for top dollar and you will save the commission on his website.

Ironically, the same person who made his millions telling people to NOT use a Realtor....went the to a full service broker (a full broker is one that gives you all the services) to get his 2.0 million apartment in Chelsea sold.

Not only did a full service Realtor sell his home...but got him more than he was asking selling it himself. A person who has made his livelihood telling other people you do not need a Realtor to sell a house had to use the services of a Realtor to get his apartment in New York sold.....

This is why over 95% of all real estate transactions in the United States are conducted through a Realtor. Even the original founder of www.forsalebyowner.com went to a Realtor and paid a full commission to sell his private home.

Are you looking to sell your home on your own? Trying to sell your home on your own now? Call a Realtor. The owner of the number one for sale by owner company did.... and got his home SOLD.....

Click here for the link to the article about his apartment being sold.

Dave dicecco
Realtor/Broker
www.davedicecco.com

Thinking Of Buying A Home....Avoid These Traps

2011-08-03T15:31:00.000-04:00

With all the talk about record low mortgage rates and housing prices that are at the most affordable level ever for home buyers...more people are out looking to buy a home today. Unforutnately, with so many choices and more people everyday startign online to do a home search buyers are getting lured into traps on homes. I tell everyone who is thinking of looking at a home to avoid these common traps:

First, when you begin your seach online avoid the monthly payments that they are advertising. They are simply wrong. Those payments are based on the asking price plus interest at a low level.They do not factor in other things into your payment such as mortgage insurance (if you are not putting 20%) down, home owners insurance and property taxes for the house. In reality all of that adds money to your monthly paymnet.

For example a typical house for $150,000 in Charlotte would probably cost you around $45 a month for home owners insurance. Property taxes on average would add $135.00 a month and mortgage insurance would add another $50.00 to your payment. So that base payment now jumps up $230.00 a month. That is a substantial increase in yoru monthly payment.

Second, when talking with a mortgage broker tell the mortgage broker what you are comfortable as a monthly payment with your taxes, insurance and any premiums added in. Make sure the mortgage broker tell you what price range to look at that keeps you in that budget.

Third, interview Real Estate agents. Not all agents are the same. Yes we all have access to the same information but we all perform differetnly. By contacting different agents you can get a feel if they are knowledgeable with the area you are looking in and are looking for homes that fit your criteria. Just becuase you know the maximum you can afford is $150,000 you do not want only homes that are in that spectrum of price. You want everything under that price as well. Some agents (unfortunately) feel you are not worth the time if your price range is not at a certain dollar amount.

Fourth, make a checklist of things you want to make notes of when looking at a house. By going into a house with a checklist and noting things about the house you like and do not like you will be better off when you make a descsion on the house you want. The listing sheet and the information an agent gives you only can provide you with so much information. it could be something about the house or the neighborhood that attracted you to it. Without the notes you are probably going to forget.

Fifth, do not rush into a purchase. Even if you like a house and are ready to put an offer in sleep on it. Call your mortgage broker and give him the address of the house. He will be able to pull up the taxes on the house and give you a monthly payment within a few dollars (subject to your homeowners insurance). make sure based on the condition of the house and what you may want to do to the house that it will fit within your budget.

Following these steps can help ease the anxiety that comes with buying a house. I know when I purchased my homes prior to being in Real Estate i wish I had known these things. Everytime I would start my search online to see what was out there and look at the monthly payments I would say i can afford that....until I found out i could not or did not want to. Then the emotional part of me is taking over and I am justifying to myself why I should buy that house.....By following these steps I have put myself in a psoition to know what i can afford and making a descison that is best for me and my family....

Dave diCecco
Realtor/Broker
www.davedicecco.com

When Should I Put My House On The Market?

2011-08-02T20:05:00.002-04:00

The question is when you should put your house on the market. I received this question the other day when I was talking with a friend about selling their house. The premise he gave me; is there a better time than another time to put the house on the market in this economy.

A good question that deserved a well thought out answer. My first instinct as a Realtor and a salesperson was anyday is a good time to put the house on the market. However; in reality I said to him it is not so much when you put it on the market, but where you live that decides that more often.

Being in the south we are immune (for the most part) from the brash winters that the people in the North receive from November through February. So, the weather in Charlotte does not really play a factor in whether it is a good time to put a house on the market or not.

What does factor in is what is the neighborhood and area you are in doing right now. Is there a lot of homes on the market? Are they foreclosures or short sales or resales? What is the absorption rate of the homes on the market? Can you get what you need out of the house in a time frame that is workable for you?

These question more than anythggn else should decide when you put a house on the market versus anything else. If you are in a neighborhood with a high volume of short sales and foreclosures and the prices are substanitally less than what you are going to accept...then your best option is to wait.

I told him based on the numbers to wait...What he would realistically expect to get out of the house versus what he would be competing against did not work to his advantage at this time. Sometimes you need to let the market balance itself out before you place your home on the market. The worse thing you can do is look at it in an emotional state and feel that your house is worth more than it really is...

My advice to someone is always the same....there is never a bad time to put the house on the market if the numbers make sense. Because people buy houses 365 days a year...and who knows that buyer for your house could be out there right now looking for a house.

Dave diCecco
Realtor/Broker
www.davedicecco.com

New listing: 3800 Churchill Road Charlotte, NC. 28211

2011-08-01T11:12:00.000-04:00

This lovely three bedroom two full bath town home located in the highly desirable area of Cotswold will amaze you with the openess of the place. This home offers a WOW factor that not many homes I have ever been in have done for me. It is a great location close to uptown and shopping and on a wooded lot that offers privacy.....

When you walk in this home you are instantly greeted by the high two story ceilings that adorn the living room/dining room area of the house. An already well laid out place this adds to the feeling of being larger than it is. The living room is accented with hardwood floors,beautiful woodwork trim around the room and a tiled gas fireplace. The dining area is also open and offers a beautiful vierw of the deck and the trees from the large patio doors.

Down a hallway that separates that part of the house from the rest of the downstairs you will find the kitchen. This kitchen has a large amount of cabinets, beautiful black countertops and a combination of stainless steel and black appliances that convey with the house..There is enough room in the kitchen for a table a few chairs as well.

Adjacent to the kitchen is the first floor full abthroom with access from the hallway and the master bedroom. As with the whole downstairs the master bedroom has hardwood floors. Currently beign used an office this room offers a lot of space and a private access to the tiled bathroom with new granite coutnertops.

When you go upstairs you are instantly greeted by the breathtaking view of the lving room and dining area from the balcony. After taking in the view you are greeted by the two remaining bedrooms upstairs. Both bedrooms are very good size and one can be considered a second master with a private access to the second full bathroom upstairs. That room also boasts a large walk in closet.....The other bedroom has a nice sized closet as well and like the whole upstairs it has newer wall to wall carpet throguhout.......

After viewing the house the other thing that caught my attention immediately was the oversized deck that overlooked the beautiful aged oak trees and added privacy. With a nice private drivway offering ample space for parking this townhome offers a little retreat......

This home is competitively priced and just waiting it's new owners....If you are in the Cotswold area of Charlotte off of Wendover road come visit this outstanding town home...You will definitely not be disappointed.....

Dave diCecco
Realtor/Broker
www.davedicecco.com

Do You Know What Updates Will Cost When looking At Homes?

2011-07-28T17:56:00.000-04:00

This question might seem trivial...but it could cost you thousands of dollars in negotiations and a home you settle for instead of the one you want. I show a lot of homes and have seen homes that need a complete makeover to ones that you could walk right in and never do a thing for the next ten years and probably everything in the middle. What gets me is when a Realtor tells me that their buyer chose another home because the cost to update was to much versus my house. Yet had no idea of what the cost of the update would really be.

I sold a house to a nice young family. When we looked at the house we were comparing it with a house that someone had renovated a few houses down. The first house needed new appliances, counter tops, carpet, paint, and a kitchen floor. All these items were done in the other house. The price difference was a good difference apart. I advised my clients that we should measure the rooms and counter tops and check to see what it would cost to put what the other house had in it in this house. Paint is relatively inexpensive so that was easy to add to the cost.

In the process of me getting them some quotes to duplicate the counter tops in the other house and the flooring and them shopping the price of appliances around the makeover house sold. We gathered our numbers and made an offer on the other house based on what it needed. Converted the loan to a rehabilitation loan (which allowed us to roll in the cost of the repairs and work into the loan). Agreed to acceptable terms and came out after all the work was done 15% LESS than the other house.

What made me write this today was I went and visited them this morning and they wanted to show off their new house with all the repairs done to it. They had become friendly with the neighbors who bought the other house. When the neighbors found out what they were doing and how much it cost...they were shocked. They said their Realtor told them the cost was to much and that the other house was a better buy. Then I was talking with a Realtor whose client had narrowed their choices of houses down to 2 (one being mine) and said they went with the other house because the cost of updating was larger than the difference in price based on looking at it.

Not being a licensed contractor I am in no position to tell someone what is a better purchase in regards to buying something already done or one I can get to that shape. For some people they do not want to do anything but move right in. Others do not mind if they can save some money. Everyone needs are different....But are all your options explained to you and are you getting the right information before making a decision?

This one buyer paid 15% more for in essence the same house.... The one who bought the other house was priced $40,000 more than mine. My seller had received quotes on the updates at approximately $25,000 to $30,000 but since she was moving elected not to do them.... So, is the house all done really the best deal? Sometimes YES and sometimes NO.....

Dave diCecco
Realtor/Broker
www.davedicecco.com

Charlotte, NC. 2nd Among Kiplinger's Best Value Cities

2011-07-27T17:40:00.001-04:00

Kiplinger magazine yesterday revealed it's top ten metro cities for best value and Charlotte, NC. was ranked second. It is no surprise to the people that live here that Charlotte has been named in many magazines best places to live or work.

Kiplinger based their study on various factors. They used a formula that factored in the cost of living in the city, the strength of the economy and the amenities that the cities had to offer.

Charlotte had a low cost of living index and as the think tankers said it may be the best kept secret in the south. With our diversification Charlotte is not poised to be boom or bust by one industry. yes, we are the second largest banking capital in the United States behind New York. But Charlotte is also home to one of the largest energy companies in the United States in Duke Energy. Many Fortune 500 companies call Charlotte their home.

One of the main reasons Kiplinger picked Charlotte, NC. as number 2 on it's list was companies are drawn to Charlotte because of it's family atmosphere and amenities. Charlotte is so centrally located in the south it makes it an ideal location. With the largest school system in the state and still managed to have 14 of our 33 high Schools recognized by Newsweek on their list of top 1600 high schools in the country. The fact that a large city such as Charlotte has been able to provide top notch education is no stranger to the residents of Charlotte.

But Charlotte is also very affordable and going more green every day. We boast some of the lowest taxes and utilities cost around and a recent article had North Carolina as the lowest cost for home buyers for closing costs. That and the commitment that the city has made to the greenways has helped shape the future of Charlotte. With over 33 miles of greenway and more being constructed everyday Charlotte has become a green friendly city.

But in addition there is a lot for the family to do here from sporting events, to museums, to art galleries, to live music and concerts...no matter what your taste Charlotte has something to offer everyone....

I realized six years ago how great a value Charlotte was and now the rest of the country is as well...

Dave diCecco
Realtor/Broker
www.davedicecco.com

How Do You Choose A Realtor In Charlotte, NC?

2011-07-26T08:49:00.001-04:00

How do you find the right Realtor to work with in Charlotte, NC.? I was asked this question the other day by an out of state buyer that is moving to the Charlotte, NC area for his job. his compnay is not offering him a relocation package so he and his family are on their own when it comes to finding a Realtor and looking for and purchasing a house.

A very good question and one that I could not come up with an answer right away for. Of course my first response was you already have; you found me. But in reality how does one know if a Realtor is right fit for them and vice versa. I have had my share of conversations with potential buyers and sellers where, I walked away either in person or over the phone, knowing that this was not a good fit for me or them. Sometimes they wanted to go with me and I have had to politely refuse and other times they realized the same thing and we parted as friends. But when you are doing this through e-mail and phone; how do you know you have the right Realtor?

I knew the buyer was nervous by the tone of his voice; he had heard horror stories about people relocating to areas and not knowing anything and ended up with a bad deal...Yes, it happens. But it is not the norm. No matter what profession you are in for everyone good story you have I can find a bad one. It is all about perception, luck and the events at that time.

I told him that I have dealt with a lot of out of state or area buyers and sellers in the past and currently right now. In fact; a couple of my lsitings I have never met the seller. I have done everything through the phone, e-mail and fed-ex. These people have trusted me with the largest sale in their lives; selling their home. I have gotten them sold and closed and if they walked down the street in front of me I would never know who they are.

I have had numerous buyers I worked with that were from out of state. I have provided them with information, listings, and various websites to help them in their buying descsion. then I have met them to view homes. And each time the transaction has gone rather smooth.

But why do I have so much success with people I never met? Is it my award winning charming personality? Is it my aggressiveness? Is it my dedication to my career? Is it my knowledge? Is it beign in the right place at the right time? Is it my blog where I provide answers to questions peopel want to know? Is it my follow up? Probably some combination of all the above....

I told him that when you found the right Realtor to work with you....you will know. Trust your instincts and your gut feeling and you probably will be right. By asking a lot of questions and probing you get a feeling for the person you are dealing with. That person and you will know if you are right for one another. after a lenghty conversation ( 43 minutes according to my cell phone) he agreed to have me represent him.

So, I asked him what made hm decide to choose me over another Realtor. He was quite frank. You never pushed me to work with you and you asked me questions about my needs and wants. I felt you interviewed me as much as I interviewed you...I felt comfortable with our converastion and knew you were the right fit for me.

Funny, i felt the same way......I think it was becasue I learned early on from my parents that to be successful in life you have to live by one simple rule. "treat others as you would want to be treated".

Dave diCecco
Realtor/Broker
www.davedicecco.com

Market Report: University Area Charlotte, NC. July 2011

2011-07-23T15:37:00.001-04:00

The University area of Charlotte is the area around the University of North Carolina Charlotte. Located in the northeastern end of Charlotte. A popular destination for young professionals and families. The area encompasses from Interstate 85 south to rocky river road and west to W.T. Harris Blvd and east to Cabarrus county line. All the homes in that area are within a five to ten minute ride of the University.

Below is a snapshot of how the market has fared over the past three years from July 1st through June 30th of that year:

3 years ago there were 298 homes that sold for an average of $199,189. They were on the market for an average of 50 days.

2 years ago there were 340 homes that sold for an average sale price of $157,711. They were on the market for an average of 90 days.

Last year there were 310 homes that sold for an average of $153,978. They were on the market for an average of 109 days.

Currently there are 233 homes available on the market right now and another 85 homes that are under contract pending to close.

In a stable housing market a six month supply of homes keeps the market balanced. more than that and you are in a buyer's market and less than that you are in a sellers market. based on the last 3 years the market is favoring the buyer but the number is decreasing.

Dave diCecco
Realtor/Broker
www.davedicecco.com

NoDa/The Arts District---Market Report July 2011

2011-07-22T10:44:00.000-04:00

Conveniently or also known as the Arts District is a suburb of uptown Charlotte. Conveniently located 2 miles from uptown it is home to art galleries and various southern cuisine restaurants. People love living here for the old world charm it still has. An old textile mill area of is a thriving area of Charlotte. below is the market trends over the past three years for the area from July 1st to June 30th.

Three years ago there was 43 homes that sold for an average sale price of $246,806. They were on the market for an average of 67 days.

Two years ago there were 35 homes that sold for an average sale price of $236,040. They were on the market for an average of 126 days.

last year there was 24 homes that sold for an average of $195,027. they were on the market for an average of 114 days.

Currently there are 31 homes actively on the market right now with an average asking price of $244,810. they have been on the market for an average of 150 days. there are also 8 homes under contract pending to close. they have an average asking price of $220,000. they were on the market for an average of 105 days.

Based on the current inventory of homes with what has sold the Arts District (or more commonly referred to as NoDa) has approximately one year of inventory of homes. A balanced market is six months of inventory so the current inventory favors buyers....

Dave diCecco
Realtor/Broker
www.davedicecco.com

New Listing: 8903 Milton morris drive Charlotte, NC. 28227

2011-07-20T11:33:00.000-04:00

8903 Milton Morris drive located is the Morris farms Subdivision of Charlotte. This is an almost 2900 square foot house that features three bedrooms and two and half bathrooms. The house is the largest in the neighborhood and has some extraordinary features which make it a great value at only $109,000.

This home is situated on a corner lot and features a fenced in back yard with plenty of trees bordering it for added privacy. the home owner has taken pride in the house and it shows inside. The house features brand new wall to wall carpet throughout the house and was professionally painted recently.

The amount of space this house has to offer is what makes it intriguing and open to endless possibilities. The main level features a large living room with a wood burning fireplace as the focal point of the room. There is a good sized dining area off the large open kitchen that has tile flooring and all appliances that convey with the house.
When you get upstairs the first thing you will notice is the dual zone control at the top of the stairs. This house is heated and cooled on two separate controls. the upstairs features two good sized spare bedroom with ample closet space and a full bath. in addition the master bedroom has a vaulted ceiling with his and hers closets and a full walk in master bathroom.

When you enter the lower level, you are greeted by a large room that i have classified as a den. it can be used as a playroom or a family room. off that room is the laundry room and another door which takes you into the fourth bedroom/office. The room has a large closet but also features a separate entrance to the outside adjacent to the garage....

Like i said this house has endless possibilities for the growing or large family.... Priced to sell and located in a desirable neighborhood makes this a win win situation for the right family.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Market Report: Crestdale Crossing Matthews, NC. 28105 July 2011

2011-07-19T10:54:00.000-04:00

Crestdale Crossing is a quaint 110 single family home subdivision located in Matthews, NC. 28105 just outside of the center of town. This quiet community was built in 2002-2003. It's families location to the highways, great schools and family like atmosphere make it a popular destination among families and empty of.

Below are the market trends for of Crossing for the past three years. This will give you a good idea of how the housing has trended in there. these numbers are from July 1st through June 30th of that year.

3 years ago there was 4 homes that sold for an average sale price of $122,500. they were on the market for an average of 17 days.

2 years ago there were 6 homes that sold for an average sale price of $118,458. they were on the market for an average of 25 days.

last year there were 3 homes that sold for an average sale price of $109,667. they were on the market for an average of 60 days.

Currently there are 3 homes actively on the market in years crossing for an average sale price of $90,667. there is one home currently under contract right now. These homes have been on the market for an average of 74 days.

based on the trends of the past three years with the amount of homes that have sold there is a 12 month supply of homes on the market. In a ideal situation that number would be 6 months supply. If it is less than six months it favors a seller and if it is more than six months it favors the buyer.

Dave diCecco
Realtor/Broker
www.davedicecco.com

New Listing: 632 Crater Street Charlotte, NC. 28205

2011-07-18T12:02:00.000-04:00

This cottage style home located at 632 crater Street in Charlotte, NC. 28205 is part of the random hills subdivision. the home is located in the Monroe area of Charlotte just one block south of is road off of road.

This home features FOUR bedrooms and TWO full bathrooms. An unheard of amount of bedrooms and space for homes built in the 1960's in this area. The homeowner is the original home owner who put the master suite addition plus laundry room onto the house 30+ years ago.

632 Crater Street in Charlotte has a lot of old world charm in this house. As soon as you enter the house you will instantly notice the ORIGINAL hardwood floors that have been refinished and brought back to their natural beauty. Those hardwoods carry out through most of the living area of the house.

The home features a very good size living room that allows for entertaining and watching of TV. Off the living room and down a small hall are located the three additional bedrooms and the second full bath. All three bedrooms are very good size and one is currently being used as an office.
On the back part of the house is located the kitchen and eating area. The kitchen is so spacious that the current homeowner has two refrigerators in there and space for other items.

Off the back part is the master suite. At one time this was the rear deck area of the house and the master suite features a spacious bedroom and a full bath with a walk in closet. One of the best features of this master bedroom is they kept the original brick from the old exterior of the house adding to the charm of the master bedroom. With some fine wood craftsmanship they built into the brick a nice mini bookshelf as well.

But what sells this house is the fact it has a gorgeous fenced in back yard. The yard is level and well kept up. The homeowner has a nice green thumb and it shows in the care of the yard. there is a beautiful workshop/outbuilding in the back and a nice large concrete patio.

the owner has taken great pride in this house and cared for it. it shows throughout the house. Central air conditioning was installed about ten years ago and is serviced on a regular basis. The roof on the house was replaced within the last two years as well. But to add of the peace of mind for the buyers she is providing a one year home warranty with the purchase of her lovely cottage.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Charlotte, NC. Among Top Ten Cities For Boom

2011-07-14T15:53:00.001-04:00

I just sat down at the doctor office and pulled out my laptop and opened to the local Charlotte news. The first thing I notice is an article listing the top ten cities that are the most likely to boom form the recession. Amidst my curiosity i decided to open the article and see what Forbes magazine felt the top ten places were for growth following the recession.

Well looking over the list I quickly noticed that Charlotte, NC. was ranked 8th on the list. A very impressive spot to be ranked. Forbes put it 8th on their list of boom towns because of our mild climate (protected by the Appalachian mountains to the west and inland enough to not be drastically affected by the ocean), low home prices in comparison to other cities it considered, our small size (really???have they been to Charlotte) allowing us to grow and not be the bottle neck nightmare cities like Atlanta are.

In addition our Charlotte -Douglass airport may not be one of the top ten largest airports in the United States; but we do serve both domestic and international flights adding to the allure.

But, the main reason I believe we are on the list was the last reason they pointed out. Our infrastructure. Charlotte even during the downturn of the economy has invested in the infrastructure of the queen city. that forward thinking has and will help Charlotte become a powerhouse among major cities in the United States. Without a strong infrastructure no city can survive for a long period of time.

This study supported what i realized six years ago when i migrated to Charlotte form the North East...It will boom and I want to be here for the ride. To read the full article click on the link:
http://blogs.forbes.com/joelkotkin/2011/07/06/the-next-big-boom-towns-in-the-u-s/

Dave diCecco
Realtor/Broker
www.davedicecco.com

What Does Absorption Rate Mean To A Seller?

2011-07-13T18:23:00.000-04:00

There is a constant throwing around of terms among Realtors that the average Joe does not know or understand. one term is absorption ate and what ti means to them as a seller.

So what is absorption rate. Absorption rate by definition is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time in a specific area. For example, you live in providence plantation and let's say there are an average of 10 homes sold in that subdivision each month. That means on average that subdivision sells 120 homes a year. if there are 120 homes on the market at one time then it would take an average of 12 months for your house to sell. That number changes month to month as well as some homes go on the market and others go off the market.

So, I am selling my house why is this important. The absorption rate will let you know that if you are looking to sell your house and price it at fair market value in providence plantation (for example) that it would take up to one year on average to sell your house based on the current trends.

What a lot of sellers fail to understand when they put their house on the market is the average time it will take to sell a home in that neighborhood. Now, you can increase your odds of getting your house sold and also decrease your odds of getting your house sold based on how you price it in comparison to others in the neighborhood.

If you know the absorption rate and say i do not want to wait a year..you can lower your price to a more competitive price in comparison to the other homes to attract an offer sooner than later.

If yo are not in a hurry and rather wait to get fair market value for your home you can price it for fair market value and know it could take up to a year or longer to sell your home.

Absorption rates are great when you are thinking of selling a home and a vital piece of information needed to make a decision that is best suited for your needs.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Should The Listing Agent Be present for ALL Showings?

2011-07-12T16:43:00.001-04:00

before you start saying I am out of my mind...let me preface this some by saying what works in some parts of the country may not necessarily work in other parts of the country. With that said, I was asked today by a former client if I believed having the listing agent present for all showings was a good thing.

My answer was easy...NO WAY. When I take buyers out to look at homes in the Charlotte area it is expected that the homeowners will not be there for the showing. i understand that sometimes circumstances preclude the seller from leaving until I arrive...That is okay. But, when my buyer client wants to go look at a house he does not want the seller or thier agent, looking over his/her shoulder and piping in on the house trying to sell them a house?

Also, if I was a buyer I would not want the home owner or the listing argent there...I would not feel comfortable talking to my beloved wife and might be afraid of what my kids might say if I know the listing agent was lingering around during the showing.

I may also feel like I cannot spend the adequate amount of time viewing the home to see if it is the right home for me. What if I want to discuss with my wife the potential layout of our furniture in the house? Am I going to do it with the listing agent standing there? Why would I want to show my interest in the house and hinder my negotiations on the house?

Yet today, I had a previous client of mine tell me that even though they felt I did a great job on marketing their house...they liked the idea of someone going back to the basics in selling a house. Is that really going back to the basics or is it a way to sabotage a potential sale of a house in this market?

With so many choices out there for buyers right now...why make it more difficult for the buyer to view your house? Why not make it as pleasant and enjoyable an experience as possible for them?

Dave diCecco
Realtor/Broker
www.davedicecco.com

Are Your Neighbors Hurting Your Home Value?

2011-07-08T08:44:00.002-04:00

We have all heard the story about the neighbor that made selling a home difficult. But the reality is that is your neighbor helping or hurting you to sell your home?

There are many choices out there for a buyer to choose from...One thing that people tend to forget is that a potential buyer is going to be driving through the neighborhood on their way to look at your house. How the neighbors keep their homes can and will have a factor in whether your home gets an offer and for how much....

I was prompted to write this based on an experience I had yesterday. Couple looking for a home preferred this one particular neighborhood. Found a house that was a short sale and could not agree on terms...we kept looking and that same house went on the market as a bank foreclosure a little while later. We went backed and looked at the house; put an offer in and was told before the bank could respond we were in a multiple offer situation. We lost the house and there were six different people looking at the house.

Now fast forward about a month. Same street and neighborhood a similar house a little farther down the road is on the market. We go to look at the house and the layout is very much the same. However; the neighbors on both sides of the house yards and driveways were filled with old car parts and junk cars. The buyers elected to NOT put an offer in on this house because of the neighbors on each side of them....The irony is that a house about seven or eight house up from that one sold in less than 3 days. A similiar home between these two homes also sold in a very short period of time. Based on the sale price of those two homes in the last 30 days this home is priced right in comparison to those homes. But as the agent told me he is gettign very few showings and no offers on the house.

I always look around and drive through a neighborhood before I go to a listing presentation. because no matter how nice the house is and how well kept it is; if the neighborhood does not support it you are not going to get buyers putting offers in on your home. I have had a few listings where the agents told me they never went into the house because there buyers did not like the neighborhood...

I agree these are things you cannot control. however; they will and do affect the value of your home. So, when you are thinking of listign your home for sale; look around at your neighbors homes as well because they can be the reason your home gets an offer or does not.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Buying A Home? Shop Mortgage Lenders

2011-07-07T08:17:00.002-04:00

If you are in the market right now to purchase a home; shop for your mortgage approval with a few lenders. In this economy and housing market lenders have a variety of different packages availble. Just because your local bank or mortgage broker said NO you cannot buy right now becuase you need to hae a credit score of X does not mean you cannot buy.

I recently have been working with three individual buyers who were told by their previous lender that they could not buy a house becuase there credit score was to low. All three of those potential buyers are out aggressively looking for homes right now with a pre-approval letter in hand. Why? because I helped them shop around for a lender that had a program that qualified them for a mortgage.

Most rRealtors have a lender they prefer to work with. It is probably someone that has helped them in the past get a loan processed and approved. Thus, if that lender says NO they move on to the next buyer and wait as the lender works with the buyer to get their credit score up and it can take 3 to 6 months.

Well i have a preferred lender as well...does it mean he gets 100% of all my deals? No. but I give him first chance. Not all companies have the same guidleines to approve loans right now. Yes, they all have to fit in the box nice and neat. However; your lender may tell you that your credit score needs to be 620. Another lender could tell you 580 and a third bank could say 600. They are not governed by the same regulations in regards to requirements for credit score. it si up to the individual lender to decide on what credit score risk they are willing to advance a mortgage on.

All three people were told becaue of their credit score they could not buy a house and had to do certain things to get their credit score up. And all three I was able to get approved without increasing their credit score....

So, if you are in the market for a house and the first lender tells you NO; call another lender and see what they say...you may be able to purchase a house based on your current credit score. There are many different guidelines availble right now if your Realtor knows where to look.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Matthews Ale House---Matthews, NC. 28105

2011-07-06T18:28:00.000-04:00

This past Fourth of July weekend my family and a few friends attended the matthews parade through downtown and the free concert at stumpton park. Between the running with keeping up with the kids and the heat outside a friend and I decided to stroll up trade street (main street in most areas) and visit the local pub for a quick beer.

Now, I have lived in this area for about five years now and have never ventured into Matthews Ale house. Quite a shame I will admit. When you walk in you are greeted by a friendly bartender/owner who understands the concept of customer service. She greets you with a smile and gives you the feeling of being welcomed into her establishment. Becuase it is "technically' a private club in order to partake in a beverage to quench our thirst we had to join the pub. A modest $2.00 fee to enjoy some fine beer. She has over 45 different beers there mostly imports. She even offered me a shot glass of a beer to see if I liked it before pouring me a pint.

For people who know me; I am not a drinker or bar person. I drink socially and nothing more. But sitting there talking with her the next thing I know i have had two beers and the time went by before I knew it. the patrons that visit there are all very friendly and everyone welcomes you with a smile and a handshake. I will go back and patronize her pub in the future again. For more information and to see the selection of beers offered at the Matthews Ale house visit her website at www.matthewsalehouse.com.

If you are in the Matthews NC. area and have a need for a cold beer stop into the Matthews Ale house you certainly will not be disappointed....I know I was not.

Dave diCecco
Realtor/Broker
www.davedicecco.com

4th Of July--Reason We Celebrate

2011-07-04T08:02:00.000-04:00

Today is the 4th of July. A day that most families will be celebrating by cooking outside on grills and having picnics then watching the fireworks at night. It is a day that we as Americans celebrate our Independence day. A Day that is recognized as the day the united States officially separated itself from British control with the signing of the Declaration Of Independence.

I know for some people the day has some greater meaning. I look at all the flags around as Americans young and old wave them in great pride today. i sit and listen to tributes being held throughout the various towns and areas around Charlotte, NC. for fallen soldiers from all branches of the military who gave their lives so that the flag could fly high.

I know as a veteran of the United States Army I was proud to serve and would have given my life to preserve the freedoms we have... Americans do everyday of our lives. We take a lot for granted sometimes. But one thing is for sure; as Americans we know and trust that the soldiers protecting us are doing so with the same passion and desire as the ones who helped us free ourselves from the British. for that reason I feel the Fourth of July is important.

Today, and this weekend, as you drive around and attend various outings in commemoration of the signing of the Declaration of Independence; one variable stands out...no matter what your political affiliation, color of your skin, where you grew up at, whether you like someone or not; as Americans it seems we all come together on the fourth of July. be it at parades, outings or fireworks shows...it seems there is a little more courtesy among Americans today. As we remember today as the day we received our Independence.....

Dave diCecco
Realtor/Broker
www.davedicecco.com.

Free Musuems In Charlotte NC. First Weekend Of The Month With Bank Of America Card

2011-07-01T07:46:00.000-04:00

As we celebrate the fourth of July this coming Monday; this weekend is also the first weekend of the month. That means if you are a Bank of America cardholder (either debit or credit) you can get free admission into certain musuems this Saturday and Sunday. A great program I use when I can. The way it works is across the United States on the first weekend of every month select musuems give free admission to Bank of America cardholders. It is good for one general admission pass to the select musuems.

With so many activities going on and people taking long weekends...here is a list of the musuems participting in the program in the Charlotte area:

The Mint Musuems.

Levine Musuem.

Bechtler Musuem of Modern Art

Harvey Gnatt Center for African American Arts.

Nascar Hall of Fame.

If you do not want to venture out into the heat this weekend (or the first weekend of any month) take a venture to one of the musuems and enjoy some of the arts and culture that Charlotte has to offer.

Dave dicecco
Realtor/Broker
www.davedicecco.com

4th of July Charlotte Area Town Events 2011

2011-06-29T16:21:00.002-04:00

Yesterday I talked about a few of the events going on in Charlotte in honor of the Fourth of July. If you noticed it was all about family friendly events and free to attend. To continue on that theme I have researched the local towns in the area to see what they have planned to honor our country this Fourth of July 2011. Below is a list of the local town events that are offering festivities and/or fireworks on the Fourth of July:

Matthews, NC. will be holding their annual Fourth of July parade on Saturday July 2, 2011. The festivities begin at 5;30p.m. in front of the library/town hall and kids and adults alike can decorate their bikes or other modes of non motorized transportation and march, walk, or ride down main street Matthews. The parade ends up at amateur park where there will be family fun entertainment and FREE games for the kids and live band.

Mint Hill, NC. will hold their traditional Queen City brass band concert on Sunday July 3, 2011. This is a great mix of amateur and professional musicians playing songs in tribute to America. The concert starts at 7:30p.m. and runs to about 9:00p.m.

annual, NC. will hold their annual events twice on the Fourth of July. Starting at around 10:00a.m. they will have the parade through downtown. Then at night they will have a fun filled family entertainment night with two different bands from 5-9 p.m. followed by fireworks at 9:30p.m.

Indian Trail, NC. will hold their festivities for the Fourth of July at the town center. The festivities start at around 9:30a.m. and end with a parade through part of downtown.....

I hope you have a safe and happy fourth of July.

Dave diCecco
Realtor/Broker
www.davedicecco.com

4th Of july Events Charlotte, NC. 2011

2011-06-28T17:48:00.001-04:00

the fourth of July is always a big day of celebration. As a country we recognize our independence on that day. Charlotte, NC. and the surrounding areas host various fireworks and events during the weekend. To help you decide I have compiled a list of the local events going on this coming weekend in honor of the fourth of July in Charlotte.

The biggest event is the Red White and Boom held on the Fourth of July every year. Held at Memorial stadium in uptown Charlotte it is a great family event and an awesome fireworks show. Tickets for the fireworks show in the stadium usually sell out so get them early if you can. Family activiites start at 4p.m. and last to 9:00p.m. Then one of the largest fireworks displays in the southest comes to life at 9:30p.m. I have had the priveledge to experience this event one year and it is well worth it. They have live music, games, vendors and activities for kids and adults alike.

If you do not want to deal with uptown you can also venture over to the whitewater center. An awesome expeirnce in itself; however; during the weekend from July 2-4 they will be having live music for FREE. Yes I said for FREE starting at 4p.m. and running to 10p.m.. You do have to pay $5.00 for parking but the whitewater center is a great place to visit and now you can listen to various live bands at the same time this weekend.

Another great family activity to do on the fourth of July is to visit the Charlotte musuem of History.Open from 11a.m. to 3p.m. on this day admission is FREE as they teach you about the birth of our country through a colonial perspective and have various games and activities for the family that day. I especially enjoy it becuase you can bring a picnic lunch with you and enjoy the musuem and spend time with your family and it does not cost anything on that day.

There are local towns and attractions also holding fourth of July events this year as well.Tomorrow I will list the other fourth of July events going on in the towns surrounding Charlotte.

Dave diCecco
Realtor/Broker
www.davedicecco.com