Here in Charlotte North Carolina builders are devleoping at a rapid pace on old farms and vacant land in Charlotte and the surrounding communities. When I last was showing new construction I toured 15 different builders buidling homes. There probably is a few more that I never visited when my clients were looking at homes.
One thing that attracted my client as does most clients is the pricing of the homes. Based on what they are advertising the deal is to good of a deal to pass up; or is it? While I understand that everyone's tastes are different and what I may like in a home you may not prefer. Thus there is a wide variety of options available. But when you tour the model homes that the builder has on display they are designed with the most popular options and the high end options. That can raise the price of the home dramatically and is not included in the base price.
A builder representative job is to sell you on the house and the floor plan layout they have. Most have choices as to different floor plans availble. Thus your choices are plentiful. However; it is when they inform you that you have to vist the "design center" to go over the options and upgrades that it gets a little more on the high end price side.
They take a deposit from you (completely refundable) to hold a lot and floorplan that you want. They schedule you to visit the design center. Some builders are offering different incentives right now. I saw some offer 50% off the options you select, others offer a free gourment kitchen with the purchase of a specific floor plan and others are offering $10,000 in free options. All on the surface sound like very good incentives.
However; as my client found out. When they went to the deisgn center to price out what few options they wanted in the home and made some upgrade descisons they found the price increased by over 65% from the original price they were quoted. Once that was factored in the price of that 'new construction" was not so attractive anymore.
They had me search one to three year old homes in the same neighborhood of where they wanted to purchase this home. Much to their surprise they could buy the home they wanted with most of the options they were looking for in it for the same money as the base price fo the new home they just looked at. it made that descsion much easier for them to make at that point.
I am not advocationg not buying new construction. Just that you need to have representation when you are there. A good real Estate agent will know the "tough " questions to ask and help you make a more informed descison. You will not get your hopes up high on a home to find out that you either have to settle for less than you wanted in the house or walk away form the home you thought was going to be yours.
New Cosnstruction is still a great option out there for many people. Especially if you are looking for soemthing specific in a home. Just be careful of the add-ons and ask a lot of questions as to what is included in the base price of the home and what is an option. And have your Realtor check around for one to three year old homes that might be for sale in that neighborhood. You may find what you want at a substantial savings.
Dave dicecco
Realtor/Broker
www.davedicecco.com
Saturday, April 24, 2010
Thursday, April 22, 2010
Butler High School--Matthews North Carolina
Matthews North Carolina falls within the school district of the Charlotte Mecklenburg Public Schools (CMS). Residents of Matthews have a few choices in terms of High School depending on where you live. One high School is recognized year after year for it's excellence is Butler High School.
Founded in 1997. Butler is the only High School in the district to achieve the goal of having no child left behind for 3 consective years. They pride themselves on the academic challenges they offer our young minds. It is the only High School in the CMS system to have ALL of it's teacher's certified to teach AP classes. Raising the bar they expect out of our teachers allows them to raise the bar of the students as well. In addition they lead the region with the highest percentage of teachers that have achieved the lofty goal of Board Certified Teacher. In addition 46% of the teachers there hold at least a master's degree.
In addition to the strong academic background that they offer Butler offers students a wide variety of choices when it comes to clubs and activiites. With over 100 to chose from there is something for everyone to join and do.
If sports is your calling you can join one of the 12 sports offered for men or one of the 11 sports offered for women. They have won numerous state titles in football, softball, women's basketball and track.
Some Notable Recognitions Butler High School Has Received are;
Recognized by News week magazine as one of the top high Schools in the Country.
Second in the district for AP composite scores.
First in the district for AP Physchology.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Founded in 1997. Butler is the only High School in the district to achieve the goal of having no child left behind for 3 consective years. They pride themselves on the academic challenges they offer our young minds. It is the only High School in the CMS system to have ALL of it's teacher's certified to teach AP classes. Raising the bar they expect out of our teachers allows them to raise the bar of the students as well. In addition they lead the region with the highest percentage of teachers that have achieved the lofty goal of Board Certified Teacher. In addition 46% of the teachers there hold at least a master's degree.
In addition to the strong academic background that they offer Butler offers students a wide variety of choices when it comes to clubs and activiites. With over 100 to chose from there is something for everyone to join and do.
If sports is your calling you can join one of the 12 sports offered for men or one of the 11 sports offered for women. They have won numerous state titles in football, softball, women's basketball and track.
Some Notable Recognitions Butler High School Has Received are;
Recognized by News week magazine as one of the top high Schools in the Country.
Second in the district for AP composite scores.
First in the district for AP Physchology.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Wednesday, April 21, 2010
6 Common Home Buying Mistakes
Today I was browsing through the world wide web and came across an article l found intriguing. It was mentioning the six most common mistakes home buyers make when thinking about and purchasing a home. Some made sense to me and others were a little shocking for me. They are:
First, knowing your credit score. Unfortunately, I had to agree with this misconception when it comes to buying a home. Home buyers need to know what their credit score is before they go out and shop for a mortgage. You are entitled each and every year for a free credit report from the three major bureaus. Get those copies and check to make sure the information is correct on them. If not, get it fixed. Then make sure that your revolving credit balance is at 30% or less. that will increase your score dramatically. In addition it will increase your buying power for a mortgage since debt to income ratio is the factor in the amount of money you can borrow. If you do not think it is important; consider that on a $200,000 home and increase in rate of only .4% increases your payment by $62.00 a month for a 30 year fixed rate mortgage.
Second, buying a car before a house. As I mentioned in the first point debt to income ratio is the sole factor in the amount of money you can borrow for a mortgage. So, if you go out and purchase a car that monthly payment will affect the total amount you can borrow. It also brings up a red flag if it is opened recently as it will lower your credit score for about 90 days and then slowly raise it again. But a $300.00 car payment affects the amount you can borrow by as much as $20,000. So that car payment could keep you from owning the home of your dreams.
Third, skimping on the home inspection. To many times home buyers are draining their bank accounts to buy that house. Without a thorough and good home inspection to inform them of the issues in the hosue they could start to see unexpected repair bills come up that they do not have budgeted to fix and cannot afford to have done. You need to know up front what, if anything is wrong with the home and negotiate what you can to get repaired on the home before you move in.
Fourth, no lawyer. Now in North Carolina we close with an attorney on our Real Estate transactions. But there are states that do not. In those states you may want to ensure your interests are protected by hiring an attorney. The belief is the agents and the mortgage broker want the deal to close no matter what because they do not get paid if it does not close. The attorney gets their money no matter what and they are more likely to protect your interests.
Fifth, no contingencies. Usually when you put an offer on a home the seller will ask for an earnest deposit. They will want from 1% to 3% of the sale price as an earnest deposit. If you back out of the deal and their are no contingencies to protect your interests you would lose your earnest deposit. if you have a reputable Realtor who is working for you and your best interests this should never happen. I take great pride in informing my clients of everything and protecting their investment against un foreseen instances.
Sixth, no budgeting for insurance. A lot of people mis calculate the cost of home owner insurance. The costs can be high if you are located in a flood zone, or a hurricane area. So, you should do your homework before you go out and look and make sure you have an idea of what the home owners insurance is going to be. Unfortunately, I see it all to often that they have not even considered the cost fo that when they are figuring out how much of a home they can afford.
These are the most common mistakes CNN money found in a study that home buyers make when purchasing a home. so please do your home work in advance and make sure you are represented by a realtor who is sincerely looking out for your best interests.
Dave diCecco
Realtor/Broker
www.davedicecco.com
First, knowing your credit score. Unfortunately, I had to agree with this misconception when it comes to buying a home. Home buyers need to know what their credit score is before they go out and shop for a mortgage. You are entitled each and every year for a free credit report from the three major bureaus. Get those copies and check to make sure the information is correct on them. If not, get it fixed. Then make sure that your revolving credit balance is at 30% or less. that will increase your score dramatically. In addition it will increase your buying power for a mortgage since debt to income ratio is the factor in the amount of money you can borrow. If you do not think it is important; consider that on a $200,000 home and increase in rate of only .4% increases your payment by $62.00 a month for a 30 year fixed rate mortgage.
Second, buying a car before a house. As I mentioned in the first point debt to income ratio is the sole factor in the amount of money you can borrow for a mortgage. So, if you go out and purchase a car that monthly payment will affect the total amount you can borrow. It also brings up a red flag if it is opened recently as it will lower your credit score for about 90 days and then slowly raise it again. But a $300.00 car payment affects the amount you can borrow by as much as $20,000. So that car payment could keep you from owning the home of your dreams.
Third, skimping on the home inspection. To many times home buyers are draining their bank accounts to buy that house. Without a thorough and good home inspection to inform them of the issues in the hosue they could start to see unexpected repair bills come up that they do not have budgeted to fix and cannot afford to have done. You need to know up front what, if anything is wrong with the home and negotiate what you can to get repaired on the home before you move in.
Fourth, no lawyer. Now in North Carolina we close with an attorney on our Real Estate transactions. But there are states that do not. In those states you may want to ensure your interests are protected by hiring an attorney. The belief is the agents and the mortgage broker want the deal to close no matter what because they do not get paid if it does not close. The attorney gets their money no matter what and they are more likely to protect your interests.
Fifth, no contingencies. Usually when you put an offer on a home the seller will ask for an earnest deposit. They will want from 1% to 3% of the sale price as an earnest deposit. If you back out of the deal and their are no contingencies to protect your interests you would lose your earnest deposit. if you have a reputable Realtor who is working for you and your best interests this should never happen. I take great pride in informing my clients of everything and protecting their investment against un foreseen instances.
Sixth, no budgeting for insurance. A lot of people mis calculate the cost of home owner insurance. The costs can be high if you are located in a flood zone, or a hurricane area. So, you should do your homework before you go out and look and make sure you have an idea of what the home owners insurance is going to be. Unfortunately, I see it all to often that they have not even considered the cost fo that when they are figuring out how much of a home they can afford.
These are the most common mistakes CNN money found in a study that home buyers make when purchasing a home. so please do your home work in advance and make sure you are represented by a realtor who is sincerely looking out for your best interests.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Tuesday, April 20, 2010
Charlotte Area Realtors Giving Back to Community
This Friday, April 23, 2010 I will join a group of about 600 plus Realtors who are turning in their blackberry for toolbox. We are celebrating our second annual Realtor Care Day.
This is an annual event where we as Realotrs do an all day home repair on select homes throughout Charlotte who are in need of major maintenance repairs to their homes and cannot afford to have the repairs done.
Equipped with hammers and nails, and armed with a passion to give back, Realtor® crews will replace and repair roofs and gutters, paint entire exteriors of homes, and undertake a host of exterior repairs for more than 30 homeowners identified as those in need by regional Habitat for Humanity chapters and the City of Charlotte Neighborhood and Business Services.
Every day, I and my fellow Realtors help families make the American dream a reality. As a family we will come together to give back to the same people we help each and every day. As professionals we strive each and every day to help make families realize their dreams. These dreams in the Charlotte area should not be a burden to a family but a joy.
A lot of times do to no fault of their own; people suffer hardships finacially and/or physically to perform the basic maintenace needed to provide a safe and habitable place for their family. So, this is one way myself and 600 plus fellow Realtors respond each year to make a difference in the lives of 30 homeowners.
So, if you are in Charlotte area on friday and see a bunch of suits out repairing a roof, fixing gutters or painting a house stop by and say hi or beep your horn as you drive by....and remeber we all can help make a difference in the lives of people.
Dave diCecco
Realtor/Broker
www.davedicecco.com
This is an annual event where we as Realotrs do an all day home repair on select homes throughout Charlotte who are in need of major maintenance repairs to their homes and cannot afford to have the repairs done.
Equipped with hammers and nails, and armed with a passion to give back, Realtor® crews will replace and repair roofs and gutters, paint entire exteriors of homes, and undertake a host of exterior repairs for more than 30 homeowners identified as those in need by regional Habitat for Humanity chapters and the City of Charlotte Neighborhood and Business Services.
Every day, I and my fellow Realtors help families make the American dream a reality. As a family we will come together to give back to the same people we help each and every day. As professionals we strive each and every day to help make families realize their dreams. These dreams in the Charlotte area should not be a burden to a family but a joy.
A lot of times do to no fault of their own; people suffer hardships finacially and/or physically to perform the basic maintenace needed to provide a safe and habitable place for their family. So, this is one way myself and 600 plus fellow Realtors respond each year to make a difference in the lives of 30 homeowners.
So, if you are in Charlotte area on friday and see a bunch of suits out repairing a roof, fixing gutters or painting a house stop by and say hi or beep your horn as you drive by....and remeber we all can help make a difference in the lives of people.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Monday, April 19, 2010
Matthews north Carolina to Hold Earth Day Initative
As a Realtor we always are looking for new homes or land that can be developed upon. It is the nature of our business. But there are times when a town and a community steps up to make the earth we live in more eco-friendly.
Matthews North Carolina is one of those little towns. This Saturday April 24 they will be holding the fourth annual earth day initiative. A great way to get rid of some items you do not need or use anymore and recycle them for future generations while saving some of oour earth's natural resources.
On Saturday April 24, 2010 from 10-1 the town of Matthews in cooperation with the Habitat for Humanity and the Wildlife Keepers will be holding a recylcing party. This will be held at Stumpton Park. It is located just past Matthews Elementary school on trade street. You can bring your unwanted cell phones, aluminum pull tabs, computers, ink cartridges, eye glasses, hard plastic caps, egg cartons, corks, wire coat hangers and miscellaneous computer parts. What cannot be reused will be properly disposed of instead of being dumped into our landfills.
The town will also have a variety of booths there to help educate us on how we can make the earth a cleaner and more environmentally safe place for our children and grandchildren. There will be food and live music as well. So, bring out the family and help make a difference in making the earth a safer and greener place for all.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Matthews North Carolina is one of those little towns. This Saturday April 24 they will be holding the fourth annual earth day initiative. A great way to get rid of some items you do not need or use anymore and recycle them for future generations while saving some of oour earth's natural resources.
On Saturday April 24, 2010 from 10-1 the town of Matthews in cooperation with the Habitat for Humanity and the Wildlife Keepers will be holding a recylcing party. This will be held at Stumpton Park. It is located just past Matthews Elementary school on trade street. You can bring your unwanted cell phones, aluminum pull tabs, computers, ink cartridges, eye glasses, hard plastic caps, egg cartons, corks, wire coat hangers and miscellaneous computer parts. What cannot be reused will be properly disposed of instead of being dumped into our landfills.
The town will also have a variety of booths there to help educate us on how we can make the earth a cleaner and more environmentally safe place for our children and grandchildren. There will be food and live music as well. So, bring out the family and help make a difference in making the earth a safer and greener place for all.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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