Charlotte NC. October 2013 Market Activity Report

New Listing: 8500 Pine Circle Charlotte, NC.

Looking for a little peace and quiet in the Charlotte area? Want a home with a large lot and tons of privacy? Look no further than 8500 Pine Circle....This brick 2000+ square foot ranch home with a finished basement sits on OVER 2 ACRES of level land and backs up to a nice natural wooded area. This well-constructed home was custom built in 2002. It features three good sized bedrooms and two and a half bathrooms. But what is nice is the layout of the house makes it feel even larger than it is and it is open and spacious... But the customization did not stop there. This home is so well insulted that the utility bills are very minimal. The house has a well and a septic tank as well as propane tank to heat it. They pride themselves on being retired and home all the time yet seeing utility bills around $40-70 a month. Boy would I love to have those utility bills.... Nice part of this time of the year is the home features two brick fireplaces. One is located in the master bedroom and the other in the family room downstairs. They are great for sitting around as a family and watching TV or playing games or just hanging out together to take the cool night chill out. Like to cook then look no further than this kitchen. A very well designed Kitchen that is open and has a tremendous amount of counter space and cabinets for storage. The large rectangular island in the middle is a great addition to it as well.... It was the first thing that popped for me when I entered the inside of the house. One that my wife drooled over when she saw the photos of it as well.... I love the bedroom sizes in this house. The master bedroom can easily fit a king sized bed in it and not feel tight or cramped. The spare bedrooms are big and spacious as well. Each room offers more than ample space for a growing family to allow their children to grow in each and every one of the rooms..... But the part of this home that is absolutely breathtaking is the back yard or as I like to say the little piece of heaven in Charlotte. It is an outdoor person greatest dream with the unlimited possibilities that is liking working with a blank canvas.

Then you have the oversized two car garage underneath the house with a separate workshop in it to do all those honey to do list projects...... Come see why country living is at its best out here in Hickory Acres area of Charlotte, NC. And the best part of all this is you can get all of this for $199,900. Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com

Why You Need A Realtor With Pricing On A Home

In the age of digital technology we all can scour through the internet to find a value on a house. There are numerous sites that offer advice on what a home value should be. So, why do I need a Realtor to tell me what the home is worth or not worth? Well despite all the third party sites that give estimates to the value of a home no two homes are identical. These sites take into account the square footage of a home and the location of the home and based on that data they come up with an estimate as to the value of the house. But what if the neighborhood has homes that are not updated? What about bank owned properties? What about the improvements you made or the neighbor made to their home? How do those factor into the estimates we see online all the time? The answer is quite frankly they do not. I had a buyer looking at a house this past week. They had done some research online about the neighborhood and the schools. (By the way I highly recommend that to all home buyers and sellers). They were pleased with the information they found about the neighborhood and the schools for their children. In their research they also came across a few estimates as to what the house was worth. In this case the house was priced about 15% above the estimates they were shown online.... They wanted to make an offer that was more reflective of getting the house for the estimate versus based on what the asking price was. Now, I ran the comparable for the neighborhood and factored in other factors that the buyer did not take into account. Like the condition of the house. This particular house was completely remodeled in the past few years and the quality of work the sellers had done was exceptional. They had added a lot of value to the house with the upgrades and remodeling they have done to the house. The price was still a little high in my opinion but not 15% to high. When I add in the addition and the new flooring, the additional second full bathroom, remodeled kitchen and the professionally landscaping done to the house the value went up.....But how does these independent sites know that a 1970's homes was updated to be like a new home? The answer is they do not. I never give anyone a true value of a home until I have been in the house. I can give them a range based on the pictures and the description but until I see the house I am not comfortable assessing the value of a house. Because like this one the condition inside could make an impact on the value. But what if the house was reverse. Let's say the whole neighborhood was made up of remodeled homes that sold in the past year and this one was a 1970's home that had no updates...Is it worth the same amount of money or less? The amount of repairs a home needs factors into he cost of the home. An average condition house may be worth $200,000. But a house in need of $20,000 in repairs will be worth only $180,000 or more likely less because of the work it needs. The same is for the location of the house in relation to the neighborhood. Is it on the main street coming into the subdivision? Or is it located in the back part of the subdivision? People will pay less for a house that is located right in the front of a subdivision because of the noise and traffic it gets. What does it back up to? If the house backs up to woods or a park the value is greater than one where you can see your neighbor cooking in the kitchen from your back yard. What kind of yard does it have? Is it flat, level and cleared or hilly and wooded? Yards are becoming a large component with buyers today because of either the children or pets. Is it on a cul de sac lot or on a major intersection? Studies show people pay more for a cul de sac lot than they do for one not on the cul de sac with children. Am I near amenities in the community or do I have to drive to them? I know personally I like to know that my teenage children can walk to the pool or playground without me and paid more for that convience I can go on but you can see where I am coming from. An estimate is only that. An estimate. Without seeing and touching and walking the house and lot it is very difficult to put a value on a house. So difficult that I will not commit to a price without first seeing the house to evaluate all of these things and more..... That is why even though a Realtor had a price on the house that may or may not be in line with the estimates out there....it does not necessarily mean the price is wrong. There are a lot of other factors that play into the pricing of a house that the estimates cannot take into account and is why you need a Realtor when it comes to figuring out the prices of homes and whether it is a good deal or not. Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com