Matthews, NC. New Multi Use Sportsplex Opens Today

The long anticipated grand opening of the sportsplex in Matthews NC. is today. The first phase of this multi us sportsplex field is set for a grand opening today in downtown Matthews. For those unfamiliar with the construction of the sportsplex; this is the first of a two phase construction project. Currently there are five fields open, playground and a clubhouse. The fields are multi use fields for soccer, lacrosse, and football. The second phase will have tennis courts, basketball courts, softball/baseball fields and a 2700 seat stadium field along with walking trails. This is a big day for the town of Matthews and the Charlotte Mecklenburg County. This project was started ten years ago and we are now finally seeing the fruits of its labor. This past weekend they held their first lacrosse tournament on the fields and have already booked tournaments throughout the winter and spring for the weekends.... If you are looking to come to Matthews or are already a resident of Matthews; come out and see this great multi use state of the art sportsplex...... Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com

Deciding On A List Price For Your Home? Know What You Need To Net

A lot of times when I go on a listing presentation I know the sellers have an idea of what they feel their house is worth through various sources like Zillow, Trulia and searching other homes in their neighborhood that sold. But is what you ask for the house the amount of money you are going to take away from the sale of your home? Sellers are aware they will pay a commission percentage of the sale price to the Realtors which is usually split between the listing agent and the buyer's agent. But what other expenses might come up with a sale of a house? Does your Realtor go over the potential expenses that you will and may incur in addition to the sale price? Now, I know all states are different in terms of costs associated with the seller. Since I am licensed in North Carolina and primarily sell in the Charlotte area this is more in line with the typical expenses I have seen on the HUD (closing statements) for sellers in the state of North Carolina and the Charlotte area.... Besides the commission that is agreed upon at the time of listing the house for sale there are some other expenses the seller will incur with the closing of the house. One is the payoff on the mortgage. One often misread number is the payoff amount. I know when I get my statement from the mortgage company each month it tells me the principal balance owed on the house. However; this is not an accurate amount to payoff the house. Interest is paid in the rears. So, you would have the interest for a certain amount of days to include into the payoff as well. I always recommend calling you Mortgage Company or going online and asking for the payoff on that day. That will give you at least an estimate as to what you will have as a payoff on the house and you will not be shocked later on when the attorney calls you to tell you the payoff is a few thousand higher than you thought. Or worse yet that now you have to come to the table with money to close. Second, closing cost assistance to the buyer. This is the one that is very difficult to figure out upfront. Not every buyer needs it and the dollar amount varies dramatically depending on the lender and the type of loan that the buyer is doing. Depending on the price point of a house I inform the sellers that they can figure a certain percentage for closing costs or max dollar amount. The buyer may ask for more or less than that. But it is a good idea to know that you may have to pay it to make a deal upfront. Do you want to put your home on the market and then find out after you priced it that the buyer needs X amount in cling cost assistance and have no room to move on the price? I went through that recently with a buyer. Fortunately for us they knew the house was worth more than what they were asking for it and inflated the sale price to cover the needed closing costs. But what if the house is not worth more? You have left no room for negotiation at all in the price by leaving the sale price at a point where you cannot discount and give any closing cost concession potentially losing a deal on your house. Third, attorney fees. Yes in North Carolina the attorney will charge the seller to do the necessary paperwork to transfer the title and pay off the lien on the house. Fortunately that number tends to be very consistent among most attorneys and runs only a few hundred dollars generally. Fourth, what about a home warranty? A lot of buyers today are asking for a home warranty in order to get peace of mind when they buy the house in case that something breaks after they close on the house. Most buyers (if the seller is not offering it up front) are asking for it with their offer. This cost can range from $400 to $500 to the seller. Last, property taxes. Depending on when you sell your house in the year you may have to pay up front to the buyer property taxes. Charlotte area tends to bill in the rear. So we are paying our property taxes in October through December for that year’s property tax. So, what if you escrow your property taxes but sell the house in say June or July. You would have to give the buyer upfront the pro ration of the property taxes for the time period of January 1st to the day of your closing. Now, you will receive a check back from your mortgage lender after you close and the attorney pays off your mortgage for the amount you have in escrow for that...But it is still an expense you have to come up with up front. Know what your expenses could be based on when you sell the house...It can have an effect on how you need to price the house and whether you can sell the house now or not. I tend to give sellers a value of what I think they should list the house for and what I think they will eventually get for the house based on the current market conditions. Then I ask them for a payoff and do the math with what potentially they will net form the sale of the house....This has made for some interesting discussions in regards to house pricing and ensuring that the seller will net out what they think they will get or what they feel they need to get in order to sell the house.... Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com