Happy New Year Everyone.... I hope this year brings everyone the happiness and joy they want. As I move forward into 2011; I decided to take a look back at 2010 and reflect on the year to make 2011 a better year.
In the housing industry 2010 was a strange year. You had the tax credit extended until June. People scrambling to get into a home so they could reap the benefit of that extra money.
We had econimists telling us we were out of a recession and that housing was going to stabilize. Then the next day telling us to worry about a possible douple dip recession and back and forth for most of the year that way. I still not sure where they view we are at right now.
We saw foreclosures rise to unprecedent levels not seen since the beginning of the housing market crash over two and half years ago.
We were subject to robo signings among banks to process the foreclosures at a quicker pace.
Unemployment remained high and no signifcant impact was made in lowering that staggering number to help boost the economy.
Yet despite all of these things we survived. People still bought homes and sold homes. Jobs were created and business hired employees. Foreclosed homes for all of their publicity still only made up less than one third of ALL sales in the housing market. Home prices in the Charlotte region remained pretty flat throughout most of the year. Showing us that the bottom may have been hit.
Customer Service became the focal word in Real Estate in 2010.... eventhough It should always be. But the ones that were not delivering to their clients the type of service they would want delviered to them saw themselves going out of business. A motto I have always lived by in my 18+ years of sales is "treat others as you would want to be treated". In 2010 it rang more true than ever before.
So, as I reflect back on 2010 I have no regrets. I had a better year than I did in 2009 in all aspects of my life. I met a lot of new people and enjoyed helping each and every one of them purchase or sell their homes. So, as I ring in 2011 I think I will keep my same New Year's resolution I have had every year for the past ten. "Treat others as I would want to be treated".
HAPPY NEW YEAR
Dave diCecco
Realtor/Broker
www.davedicecco.com
Saturday, January 1, 2011
Wednesday, December 29, 2010
Housing Market Prediction Charlotte 2011
Yesterday morning the Standards and Poor Case-Shiller Home price Index was posted. The numbers they posted were not promising for the majority of markets in the country. For those unaware of what S&P is or does; it basically tracks the home sale prices for the 20 major metropolitian markets across the country. Their data and anaylsis is considered to be the standard by which the market projects.
The data is based on retail sales in the area. Charlotte, NC. was one of four major towns that saw their avergage home price decrease to levels lower than what some considered the bottom of the market in the spring of 2009. Based on their data the Charlotte market saw a .2% drop in prices and has yet to recover to the level it needs to be at to sustain a healthy housing market.
This bodes well for buyers entering the market. Becuase as home prices are not increasing the affordability remains high for them despite interest rates rising. For sellers, it could mean a slow first quarter of 2011. Charlotte prices are still up from 2000 levels ( a barometer that S&P uses). But not at the levels most people need to be able to sell their homes to move to a larger one or a smaller one.
It is not all doom for sellers out there. Buyers are buying and Charlotte was voted by Forbes magazine as one of the fastest areas in North Carolina for job growth this coming year. As noone can predict what next year holds for us; these indicators tell us that buyers are purcahsing and many well below their affordability means.
Dave diCecco
Realtor/Broker
www.davedicecco.com
The data is based on retail sales in the area. Charlotte, NC. was one of four major towns that saw their avergage home price decrease to levels lower than what some considered the bottom of the market in the spring of 2009. Based on their data the Charlotte market saw a .2% drop in prices and has yet to recover to the level it needs to be at to sustain a healthy housing market.
This bodes well for buyers entering the market. Becuase as home prices are not increasing the affordability remains high for them despite interest rates rising. For sellers, it could mean a slow first quarter of 2011. Charlotte prices are still up from 2000 levels ( a barometer that S&P uses). But not at the levels most people need to be able to sell their homes to move to a larger one or a smaller one.
It is not all doom for sellers out there. Buyers are buying and Charlotte was voted by Forbes magazine as one of the fastest areas in North Carolina for job growth this coming year. As noone can predict what next year holds for us; these indicators tell us that buyers are purcahsing and many well below their affordability means.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Tuesday, December 28, 2010
Relocating To Charlotte? Does It Snow?
Being originally form the Northeast, I often get the question as to why I chose to move to Charlotte, North Carolina area. There are a multitude of reasons why I chose here over other places in the country. But, one of the biggest reasons was the lack of snow.
I tell all prospective buyers looking to move to the Charlotte region the same thing. It hardly ever snows here and when it does it usually is gone by late that afternoon and you never knew it even snowed. In my five plus years here I have witnessed some minor snow fall. This past Chrsitmas evening I probably saw more snow than I have seen in the past five years combined in Charlotte.
I love the white wintery wonderland that it creates. But, I do not like the slick roads or icy sidewalks it causes. I felt that moving to Charlotte I was in a position to be protected from the massive snowfalls. Yet close enough to enjoy them if I wanted to drive a couple of hours. But, I guess every five years a few inches of snow will fall and last for a few days is okay as well... So, if you are considering moving to the Charlotte area; it does snow.
Dave diCecco
Realtor/Broker
www.davedicecco.com
I tell all prospective buyers looking to move to the Charlotte region the same thing. It hardly ever snows here and when it does it usually is gone by late that afternoon and you never knew it even snowed. In my five plus years here I have witnessed some minor snow fall. This past Chrsitmas evening I probably saw more snow than I have seen in the past five years combined in Charlotte.
I love the white wintery wonderland that it creates. But, I do not like the slick roads or icy sidewalks it causes. I felt that moving to Charlotte I was in a position to be protected from the massive snowfalls. Yet close enough to enjoy them if I wanted to drive a couple of hours. But, I guess every five years a few inches of snow will fall and last for a few days is okay as well... So, if you are considering moving to the Charlotte area; it does snow.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Monday, December 27, 2010
North Carolina Offer To Purchase Changing January 2011---Loan Conditons
One of the biggest changes I see in the new North Carolina Offer to Purchase is goign to be the removal of the loan conditions. I feel and beleive this is a good thing. Currently, under the existing contract, the buyer agrees to apply for loan by a certain time frame within acceptance of the contract. If the interest rate goes up higher than it was initally discolsed on the offer to purchase, the buyer cannot get finaicning do to some reason they could still walk away form the contract with no loss of money within that time period.
Now, the new offer to purchase removes all of these time lines. It becomes part of the due diligence time period. This is a good thing for both the buyer and the seller.
For the buyer, I will be asking more now than ever before to get a pre-approval letter and not a pre-qualified letter. The difference will be that buyers will be talking with their mortgage broker up front prior to making an offer. They should be asking them what the monthly payment will be with taxes and insurance. Verifing that the information they provided on the applciation is correct. The buyers now will have a monetary stake in ensuring that all this is in place upfront.
For the seller, it is going to give them an added peace of mind knowing that the buyers should have done their homework upfront in regrds to loan approval and conditions. There should be more solid of an offer on the houses. Less risk of the buyer walking away for loan conditions.
This change will help sellers and buyers close more transactions and will keep Real Estate Agents involved more in the transaction than ever before.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Now, the new offer to purchase removes all of these time lines. It becomes part of the due diligence time period. This is a good thing for both the buyer and the seller.
For the buyer, I will be asking more now than ever before to get a pre-approval letter and not a pre-qualified letter. The difference will be that buyers will be talking with their mortgage broker up front prior to making an offer. They should be asking them what the monthly payment will be with taxes and insurance. Verifing that the information they provided on the applciation is correct. The buyers now will have a monetary stake in ensuring that all this is in place upfront.
For the seller, it is going to give them an added peace of mind knowing that the buyers should have done their homework upfront in regrds to loan approval and conditions. There should be more solid of an offer on the houses. Less risk of the buyer walking away for loan conditions.
This change will help sellers and buyers close more transactions and will keep Real Estate Agents involved more in the transaction than ever before.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Sunday, December 26, 2010
What Christmas Meant To Me This Year
I was going to hold off writing this weekend with family in town and Christmas weekend. But some events that happened to me and my family yesterday made me more than ever realize why I celebrate this holiday.
My day started like all other Christmas mornings. The youngest of four up at four a.m. saying Santa came and me telling her to go back to bed for a few more hours.....That lasted to six. Then the opening of presents by the children and the typical chaos that ensues for about an hour in my house before everyone scatters to go and play. Then we went to church as we always do.
I have been a devout Catholic all my life and try to instill in my children the meaning of Christmas based on my Catholic faith and upbringing. I try to get them to understand the real importance of the holiday and not the commercialization it has become. Just, when you think there is no hope for your kids, and everything you are trying to teach them has been in vain; they do somethng to suprise you.
My six year old daughter. When I asked my kids if Santa brought them everything they wanted my six year old said "but Daddy I did not need all of these things. Today is about the birth of Jesus. He was born today to save us. We should be celebrating his birthday."
The joy and love that filled my heart at that moment of the day made me realize what I am most grateful for this holiday and everyday even more....my family. Because there is no greater gift than being able to spend it with the ones you love.......
I hope you all had a very Merry Christmas. I know I had one I will never forget.
Dave diCecco
Realtor/Broker
www.davedicecco.com
My day started like all other Christmas mornings. The youngest of four up at four a.m. saying Santa came and me telling her to go back to bed for a few more hours.....That lasted to six. Then the opening of presents by the children and the typical chaos that ensues for about an hour in my house before everyone scatters to go and play. Then we went to church as we always do.
I have been a devout Catholic all my life and try to instill in my children the meaning of Christmas based on my Catholic faith and upbringing. I try to get them to understand the real importance of the holiday and not the commercialization it has become. Just, when you think there is no hope for your kids, and everything you are trying to teach them has been in vain; they do somethng to suprise you.
My six year old daughter. When I asked my kids if Santa brought them everything they wanted my six year old said "but Daddy I did not need all of these things. Today is about the birth of Jesus. He was born today to save us. We should be celebrating his birthday."
The joy and love that filled my heart at that moment of the day made me realize what I am most grateful for this holiday and everyday even more....my family. Because there is no greater gift than being able to spend it with the ones you love.......
I hope you all had a very Merry Christmas. I know I had one I will never forget.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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