The other day I was out with a buyer looking at homes. They mentioned to me that they liked the proximity of the home to various types of stores and hospitals. I asked them if they had driven around the area and looked at the local shopping and schools. They said no. They went to a website called www.walkscore.com. I admit I never heard of the site before that day. Boy, when I got home and visited the site I was astonished at all the great information that the site provided.
In today's society we are more conscious than ever about gas consumption and in the Charlotte area more and more people are using public transportation or walking as alternatives to driving. This website ranks the neighborhood you are looking to live in on the walkability to various types of stores, hospitals and schools.
Another feature I loved about the site was it told you basically what was nearby. One of the things when you move into a neighborhood that you have never been in before is finding places to shop, worship, and find places. With Charlotte being a large relocation area; people are not aware of what is around them for various shops and stores. Once you put in your address IT gives you a list based on closest proximity to you what is out there. A great tool for someone who is not familiar with an area.
So how did Charlotte rank? I looked to see how Charlotte ranked in comparison to 2500 major cities in the United States. Charlotte came in at a respectable 38th. Making it somewhat walker friendly. Now there are variations depending on where in Charlotte you live. The center of town rates at 100% walker friendly. While outskirts of Charlotte rank significantly lower.
So, if you are looking to see how your neighborhood would stack up visit www.walkscore.com and punch in the address for your home and it will give you the walkability of that neighborhood.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Saturday, March 6, 2010
Friday, March 5, 2010
Buying a Home in Need of Repairs....Think 203K
I was inclined to write about a 203k loan today after showing a home yesterday. My buyers were in need of a new home. They were interested in something that they could put a little "sweat equity" into. As long as the repairs to the home were not going to be to extensive. In our search they found a home that they liked. We went out to look at the home and found the work to be more than we both anticipated. (it was a bank foreclosure). Thus the disclosure did not state the extent of the work needed on the home.
I recommended they look at a 203k loan. I got one of those looks you get when someone thinks you are talking to them in a strange language. I explained to them the basics of the loan. It is a mortgage where the bank gives them a loan for the the home and the needed repairs to the home all rolled into one. Once approved for the loan and you close; the bank will give you the money for the repairs as the job(s) are done. You will have to have the work done by a licensed contractor(s) depending on what needs to eb done.
What is the catch? The catch is you cannot do the work yourself. Unless you are a liscenced contractor in that field. And you have to do the work or you are subject to penalities for not having it done within a specified time frame. In the ones I have done depending on the extent of the work anywhere from 30 to 60 days
The program is designed to help revitalize neighborhoods. The contractors like it becasue they know they are going to get paid for the work. In the few cases I have used it, the attorney held the money for repairs. As the contractor finished the job they submit an invoice to the attorney. The attorney would disperse the funds to the contractor upon proof of the work being done.
Is this loan for everyone? Probably not. But if you are looking at a home...have the down payment but feel the work is just to much to handle; do yourself a favor and look into the loan program. For my buyers they are so grateful they can get into their dream house now.....
Dave diCecco
Realtor/Agent
www.davedicecco.com
I recommended they look at a 203k loan. I got one of those looks you get when someone thinks you are talking to them in a strange language. I explained to them the basics of the loan. It is a mortgage where the bank gives them a loan for the the home and the needed repairs to the home all rolled into one. Once approved for the loan and you close; the bank will give you the money for the repairs as the job(s) are done. You will have to have the work done by a licensed contractor(s) depending on what needs to eb done.
What is the catch? The catch is you cannot do the work yourself. Unless you are a liscenced contractor in that field. And you have to do the work or you are subject to penalities for not having it done within a specified time frame. In the ones I have done depending on the extent of the work anywhere from 30 to 60 days
The program is designed to help revitalize neighborhoods. The contractors like it becasue they know they are going to get paid for the work. In the few cases I have used it, the attorney held the money for repairs. As the contractor finished the job they submit an invoice to the attorney. The attorney would disperse the funds to the contractor upon proof of the work being done.
Is this loan for everyone? Probably not. But if you are looking at a home...have the down payment but feel the work is just to much to handle; do yourself a favor and look into the loan program. For my buyers they are so grateful they can get into their dream house now.....
Dave diCecco
Realtor/Agent
www.davedicecco.com
Thursday, March 4, 2010
Home Staging in Charlotte...Is it Necessary?
If you are looking to sell your home and get the most amount of money out of it...having your home presented in it's best "light" is crucial for that. In a market where the buyer has a lot of choices today you want to make sure your home s presented in the most positive manner possible.
It does not mean you have to spend a lot of money; or in some cases any at all. In Charlotte a buyer usually has a choice of a few homes to pick from in a neighborhood. You need to make sure that your home stands out to potential buyers....
You want to make sure that you are making your home easily viewable and accenting it's postive features. I write this because recently I went through this with a home owner. Their home had been on the market prior with three different agents and even though they had showings never received an offer. The home was priced competitively for the market and the neighborhood it was in. It just did not show well to potential buyers.
i will send in a home stager to go through the house with the seller and make recommendations on little things the seller can do to ensure that the home shows out it's positive features... Sometimes it is just as simple as a rearrangement of furniture or the removal of unnecessary items from a room. Other times it might be putting a fresh coat of neutral paint on the wall.
I know that there is time and sometimes cost involved in this. But in such a competitive market for sellers you need every advantage you can get to make your home stand out from the other ones they are going to look at.
In my case, after the home stage presented the ideas to the sellers, they incorporated what she recommended. The home sold in 48 days after that and the seller received what htey were hoping to get out of the house. Will this work every time...probably not. But wouldn't you want to make sure you could get everything possible out of the house? With average days on the market in Charlotte area being over 150 days today; you need any and all advantages you can get. And one of the simplest and easiest things to do is rearrange furniture or throw some paint on the walls.
Dave diCecco
Realtor/Agent
www.davedicecco.com
It does not mean you have to spend a lot of money; or in some cases any at all. In Charlotte a buyer usually has a choice of a few homes to pick from in a neighborhood. You need to make sure that your home stands out to potential buyers....
You want to make sure that you are making your home easily viewable and accenting it's postive features. I write this because recently I went through this with a home owner. Their home had been on the market prior with three different agents and even though they had showings never received an offer. The home was priced competitively for the market and the neighborhood it was in. It just did not show well to potential buyers.
i will send in a home stager to go through the house with the seller and make recommendations on little things the seller can do to ensure that the home shows out it's positive features... Sometimes it is just as simple as a rearrangement of furniture or the removal of unnecessary items from a room. Other times it might be putting a fresh coat of neutral paint on the wall.
I know that there is time and sometimes cost involved in this. But in such a competitive market for sellers you need every advantage you can get to make your home stand out from the other ones they are going to look at.
In my case, after the home stage presented the ideas to the sellers, they incorporated what she recommended. The home sold in 48 days after that and the seller received what htey were hoping to get out of the house. Will this work every time...probably not. But wouldn't you want to make sure you could get everything possible out of the house? With average days on the market in Charlotte area being over 150 days today; you need any and all advantages you can get. And one of the simplest and easiest things to do is rearrange furniture or throw some paint on the walls.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Wednesday, March 3, 2010
How to Make your Home Greener
As spring approaches here in Charlotte North Carolina, I am reminded of ways to keep my home more green. I found an old article I read a while ago that talked about ways to save energy and make your home more green. Though the list is not comprehensive here are some basic things we all can do to help make our home more green and save green in the process.
First, reduce your water heater tempature by 10 degrees. Just that little change can add up to 3 to 5 percent savings on your electric or gas bill.
Second, when everyone is at school and work lower your thermostat by up to 10 degrees. By doing this for an average of 8 hours five days a week can save you up to 10 percent on your heating bill.
Third, purchase a high performance shower head. Yes, they cost a little more than the regular shower heads. But, the savings in water alone can be up to as much as 60 percent.
Fourth, clean your lint trap in your dryer regulary. According to a survey most people wait to do it. By doing it on a regular basis you can save up to 30 percent on your electric bill.
Fifth, use natural cleaners instead of the chemical ones. Examples of natural cleaners are baking soda, vinegar and salt. They are not only more enviromentally safe, but safer for you and your family. Ever wonder why a lot of these chemicals we use to clean say ventilate the house and wear rubber gloves. How safe is that for us?
Sixth, if you are going to replace your appliances....make sure you buy energy efficient five star appliances. The intiial cost may be a little more. In the long run you will save money and be helping the environment as well.
Seventh, buy house plants. We all rememebr back to our grade school science days when they told us plants were great to have in the house. They breathe in the bad and let out fresh oxgen. An inexpensive way to help keep your home's air cleaner.
Eighth, use green energy whenever possible. I was stunned to find out that over 50 percent of all residential homes have the option to choose green energy for their home. It may be solar powered or wind generated and the cost may be greater...but the long term savings can more than pay for it.
These are just some of many ideas out there to help make your home more environmentally friendly and save you some green as well.
Dave diCecco
Realtor/Agent
www.davedicecco.com
First, reduce your water heater tempature by 10 degrees. Just that little change can add up to 3 to 5 percent savings on your electric or gas bill.
Second, when everyone is at school and work lower your thermostat by up to 10 degrees. By doing this for an average of 8 hours five days a week can save you up to 10 percent on your heating bill.
Third, purchase a high performance shower head. Yes, they cost a little more than the regular shower heads. But, the savings in water alone can be up to as much as 60 percent.
Fourth, clean your lint trap in your dryer regulary. According to a survey most people wait to do it. By doing it on a regular basis you can save up to 30 percent on your electric bill.
Fifth, use natural cleaners instead of the chemical ones. Examples of natural cleaners are baking soda, vinegar and salt. They are not only more enviromentally safe, but safer for you and your family. Ever wonder why a lot of these chemicals we use to clean say ventilate the house and wear rubber gloves. How safe is that for us?
Sixth, if you are going to replace your appliances....make sure you buy energy efficient five star appliances. The intiial cost may be a little more. In the long run you will save money and be helping the environment as well.
Seventh, buy house plants. We all rememebr back to our grade school science days when they told us plants were great to have in the house. They breathe in the bad and let out fresh oxgen. An inexpensive way to help keep your home's air cleaner.
Eighth, use green energy whenever possible. I was stunned to find out that over 50 percent of all residential homes have the option to choose green energy for their home. It may be solar powered or wind generated and the cost may be greater...but the long term savings can more than pay for it.
These are just some of many ideas out there to help make your home more environmentally friendly and save you some green as well.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Tuesday, March 2, 2010
Home Inspection--Why You Should Have a HVAC Technician Also
I came from an office meeting today and a light bulb went off in my head. I admit I am just as guilty as probably most agents out there are of this oversight. You have found the home you want and have negotiated and agreed upon acceptable terms with the seller. So,now your agent gives you a list of three or four home inspectors they trust. You do your diligence and talk with them all and select one to do your home inspection.
A good home inspector will spend an average of about four hours going through the home. Maybe more or less depending on the size of the home. You get the report from him that evening or the next morning. You look it over and go over it with you agent. You agree on what repairs you want done before you move into the house. The seller agrees and does the necessary repairs needed prior to your closing. A few months after you moved in you find the heating system or the air conditioning is not working properly. Now what? If you do not have a home warranty you will have to pay to have it repaired. As we all know that cost can be very high.
Well today we were talking and off the top of my head I suggested bringing an HVAC person ut to do a separate inspection on the heating and air. A good home inspector will be able to in the winter time tell you if the heat is working properly and in the summer time tell you if the A/C is working properly. However; they cannot tell if the A/C is working in the middle of the winter. The same with the heat in the middle of a heat wave. But a HVAC person can. They can give you information about that system because that is all they do all each and everyday. They went to school to specialize on working with heating and air conditioning units.
Depending on where you live, the cost is going to be in the $350.00 to $450.00 range for a home inspection. For peace of mind is it worth another $60.00 to $80.00 to have someone come out and tell you the heating and A/C unit are okay or needs xyz repairs?
With a home being the largest investment you are going to make in your lifetime; do you not want to be sure you are getting all the facts and information about the condition of the house before you sign those papers? I know I am recommending to EVERY one of my buyers to have a qualified HVAC person come out and inspect the system. That is additional peace of mind for buyers.
Dave diCecco
Realtor/Agent
www.davedicecco.com
A good home inspector will spend an average of about four hours going through the home. Maybe more or less depending on the size of the home. You get the report from him that evening or the next morning. You look it over and go over it with you agent. You agree on what repairs you want done before you move into the house. The seller agrees and does the necessary repairs needed prior to your closing. A few months after you moved in you find the heating system or the air conditioning is not working properly. Now what? If you do not have a home warranty you will have to pay to have it repaired. As we all know that cost can be very high.
Well today we were talking and off the top of my head I suggested bringing an HVAC person ut to do a separate inspection on the heating and air. A good home inspector will be able to in the winter time tell you if the heat is working properly and in the summer time tell you if the A/C is working properly. However; they cannot tell if the A/C is working in the middle of the winter. The same with the heat in the middle of a heat wave. But a HVAC person can. They can give you information about that system because that is all they do all each and everyday. They went to school to specialize on working with heating and air conditioning units.
Depending on where you live, the cost is going to be in the $350.00 to $450.00 range for a home inspection. For peace of mind is it worth another $60.00 to $80.00 to have someone come out and tell you the heating and A/C unit are okay or needs xyz repairs?
With a home being the largest investment you are going to make in your lifetime; do you not want to be sure you are getting all the facts and information about the condition of the house before you sign those papers? I know I am recommending to EVERY one of my buyers to have a qualified HVAC person come out and inspect the system. That is additional peace of mind for buyers.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Monday, March 1, 2010
In Multiple Offer Situation--What do I do?
With the tax credit ending soon, more buyers seem to be out lately in the Charlotte, NC. area looking at homes. The goal to get a house before the tax credit ends. But, what do you do when you find a home you want and you are in a multiple offer situation?
Most importantly do not panic. Just because there is another offer on the home you want to purchase does not mean you are going to be put in a position that you are paying more for the home than you anticipated. I ran into this situation the other day. My buyer had been out looking at homes in Charlotte. After a few times out and looking at a dozen or so homes they found the home they wanted to call their first home. When I called to inform the agent I had an offer to present I was told there is another offer that just came in on the house. She informed me after I presented my offer that the seller asked both buyers to come back with their final and best offer on the home.
I told my buyers do not panic. Here is what the fair market value of the home is. Talk it over and decide what you are comfortable presenting in an offer to own this home. But, you have to take into consideration the terms you are offering. In my case my buyers had received a significant inheritance and were putting down a large down payment. Besides the price there are other considerations that the seller will take into account when looking at the offer. Are you asking for any closing costs? How long until you are looking to close? Is there another house you need to sell? Are you looking for any special contingencies? Are you pre-approved for the mortgage or pre-qualified? These are all factors that the seller takes into account when looking at the offers.
In my particular situation, I advised my clients to look at soem fo the contingencies we had put in our intial offer and explained to them the choices they had. After a lenghty discussion and weighing the pros and cons to them we amended teh price and the contingnecies. We were not the highest offer on the table; but we were the most advantegous to the seller in terms of the conditions we set forth in our offer. Thus the seller accepted our offer over another one at a higher price.
So, I advise you before you decide to pay more than you intend for the house look at the other conditions you are asking for in the offer. Sometimes making a small adjustment to them can make your offer stand out more than another offer. Will this work all the time. NO. Being on both sides of this I have had sellers take the more money even though the terms were not as advantageous. But make sure your agent goes over the contingencies you are offering and let you know what your options in regards to them are.
I know in North Carolina a quick closing is considered anything around 30 days from contract acceptance. Also, We have two choices when it comes to home inspection contingencies. And depending on the type of loan you are lookign for can be a factor in today's market.
But above all else make informed decisions that you are comfortable with. A home purchase is going to be the largest purchase you make in your life time...the last thing you want is to be remorseful after you have closed on the home.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Most importantly do not panic. Just because there is another offer on the home you want to purchase does not mean you are going to be put in a position that you are paying more for the home than you anticipated. I ran into this situation the other day. My buyer had been out looking at homes in Charlotte. After a few times out and looking at a dozen or so homes they found the home they wanted to call their first home. When I called to inform the agent I had an offer to present I was told there is another offer that just came in on the house. She informed me after I presented my offer that the seller asked both buyers to come back with their final and best offer on the home.
I told my buyers do not panic. Here is what the fair market value of the home is. Talk it over and decide what you are comfortable presenting in an offer to own this home. But, you have to take into consideration the terms you are offering. In my case my buyers had received a significant inheritance and were putting down a large down payment. Besides the price there are other considerations that the seller will take into account when looking at the offer. Are you asking for any closing costs? How long until you are looking to close? Is there another house you need to sell? Are you looking for any special contingencies? Are you pre-approved for the mortgage or pre-qualified? These are all factors that the seller takes into account when looking at the offers.
In my particular situation, I advised my clients to look at soem fo the contingencies we had put in our intial offer and explained to them the choices they had. After a lenghty discussion and weighing the pros and cons to them we amended teh price and the contingnecies. We were not the highest offer on the table; but we were the most advantegous to the seller in terms of the conditions we set forth in our offer. Thus the seller accepted our offer over another one at a higher price.
So, I advise you before you decide to pay more than you intend for the house look at the other conditions you are asking for in the offer. Sometimes making a small adjustment to them can make your offer stand out more than another offer. Will this work all the time. NO. Being on both sides of this I have had sellers take the more money even though the terms were not as advantageous. But make sure your agent goes over the contingencies you are offering and let you know what your options in regards to them are.
I know in North Carolina a quick closing is considered anything around 30 days from contract acceptance. Also, We have two choices when it comes to home inspection contingencies. And depending on the type of loan you are lookign for can be a factor in today's market.
But above all else make informed decisions that you are comfortable with. A home purchase is going to be the largest purchase you make in your life time...the last thing you want is to be remorseful after you have closed on the home.
Dave diCecco
Realtor/Agent
www.davedicecco.com
Sunday, February 28, 2010
Crestdale Crossing Matthews, NC.----Family Community
I got home yesterday afternoon late from showing homes. When I arrived home my wife and I were catching up on the day's activities. With the great weather we experienced yesterday people were outside working on yards, washing cars, and riding bikes. My wife had just came inside from taking our dog for a walk through the neighborhood.
In the course of conversation she mentioned to me that she had just taken the dog out for a walk through the neighborhood. She said it brought back memories to when we were growing up. Kids were outside playing kickball, riding bikes, playing on the playground and just enjoying the outdoors. Parents were outside beginning their spring yard work, washing their cars and just enjoying the beautiful weather.
I said that was nice and refreshing. She mentioned that neighbors were friendly and introduced themselves and people were getting out again and getting reacquantied after spending the winter months inside.
One of the things we noticed when we were considering purchasing in Crestdale Crossing was that family atmosphere. We wanted a place for the kids to play that was safe and people were friendly. We noticed parents outside talking and kids playing together throughout the neighborhood. We have found all of that and more here at Crestdale Crossing in Matthews North Carolina.
Dave diCecco
Realtor/Agent
www.davedicecco.com
In the course of conversation she mentioned to me that she had just taken the dog out for a walk through the neighborhood. She said it brought back memories to when we were growing up. Kids were outside playing kickball, riding bikes, playing on the playground and just enjoying the outdoors. Parents were outside beginning their spring yard work, washing their cars and just enjoying the beautiful weather.
I said that was nice and refreshing. She mentioned that neighbors were friendly and introduced themselves and people were getting out again and getting reacquantied after spending the winter months inside.
One of the things we noticed when we were considering purchasing in Crestdale Crossing was that family atmosphere. We wanted a place for the kids to play that was safe and people were friendly. We noticed parents outside talking and kids playing together throughout the neighborhood. We have found all of that and more here at Crestdale Crossing in Matthews North Carolina.
Dave diCecco
Realtor/Agent
www.davedicecco.com
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