Charlotte, NC. Carolina Panthers Playoff Celebration

Charlotte, NC. is home to a lot of great teams and events every year. And one thing Charlotte area is known for is it's support of the local businesses and teams in the area. The Carolina Panthers are back in the playoffs for the first time in five years. The fans are going crazy for their Panthers and the city of Charlotte is buzzing with talks of a potential Super Bowl. So, in honor of the Carolina Panthers the city of Charlotte is having a Pep rally marathon. It all starts Friday night at the Epicentre in the heart of Charlotte. There they are hosting a pep rally starting at eight p.m. and giving away tickets to the playoff game and so much more.... It is expected to be a crowded event as the spirit of Charlotte will be out in full force to support their Carolina Panthers..... Saturday you can take the kids to the Epicentre for a family fun day from noon to five in the commons. This will have a carnival like feel with games for the kids, street performers, crafts, music and so much more...They will be giving away spirit towels to fans while supplies last during the event. Sunday is the day of the big game. If you have tickets great. If not the Epicentre is inviting you to join them at one of their restaurants located there and watch the big game won one of the hundreds of TV'S they have.... This is going to be a fun packed fun filled weekend for Carolina Panther fans as they root on their team to win and advance to the divisional championship.... GO PANTHERS.... Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com

Get an FHA Mortgage With A 580 Credit Score

As we turn to the New Year there are some laws and changes in the mortgage process that could hurt some people from getting mortgages and there is the expected interest rate climb with home prices slowly escalating upwards making the home buying pool for prospective home buyers a little smaller. I want to tackle this week some of the questions and concerns people have moving into 2014 looking to buy a house. With the start of the New Year it is a time a lot of potential home buyers begin the process of looking for a house and finding the right mortgage. A lot of it goes hand in hand since most Realtors have a few trusted lenders they use all the time to refer clients to… The biggest issue I see home buyers concern with is credit score. This is the driving factor on whether you can purchase a house with a mortgage or not. I have had past clients who made more than sufficient money to afford a home but could not qualify because there credit score was to low… So, what is an acceptable credit score to get a mortgage today? Most people tend to look at FHA for their mortgages because it offers the smallest required down payment that anyone can qualify for a mortgage with. A standard FHA loan requires 3.5% of the sale price as a down payment. But what are the credit score guidelines to get one of those mortgages? Everyone seems to think if bank A cannot approve me for an FHA loan because of my credit score then bank B will not be able to either. That is not true…. The federal government has a basis for which they will insure these types of loans. To qualify for the 3.5% down payment you must have a score greater than 580. If you have a score between 500 and 579 you can qualify for a 90% loan where you have to put at least 10% down. Now the question is find a lender that takes those scores…. Most lenders out there today require the credit scores to be anywhere from 620 to 640 minimum to qualify for an FHA loan. If you do not have that as a middle score between all of your credit bureaus they will generally decline you or offer some assistance to you in helping to get your credit score up….But there is a lender I use that will approve an FHA loan with a credit score as low as a 580. Yes, I said a 580. I know that most people will think there is a catch to this. There is not any. The qualifications are the same as a person who has a 620 or a 640 score. It is just that the mortgage lenders are answering to stockholders and shareholders and the risk is greater with a lower score and the paperwork is more scrutinized and they do not want to take on that risk level……. So, if you have a middle credit score of at least 580 ( by this I mean throw out the highest and the lowest and the other score) then call me because I have a lender that WILL approve you with that score as long as you meet the other FHA requirements. Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com

How Is The Housing Market In Charlotte, NC. Performing In November 2013?

There is a lot of talk about the housing market in Charlotte, NC. and whether it is improving or if the rise in interest rates has caused the market to slow down and prices to lower while inventory creeps back up . A monthly analysis versus the previous year and two years ago during the same month allows me to compare and see where the trends are and how they are impacting the housing market in Charlotte, NC. Here are the stats for November 2013: First, let's look at inventory of available homes buyers have to choose from in the Charlotte, NC. . In 2011 there were 7497 homes for sale in November. In 2012 there were 5367 homes for sale . Last month there were 3959 homes for sale. That is a decline of 53% in two years of available homes buyers have to choose from. Second, the average sale price of homes in the Charlotte, NC. for November 2011 was $199,542. In 2012 the average sale price was $210,287 and last month the average sale price was $231,643. That is an increase of 14% in the average sale price in the Charlotte, NC. market over the past two years during the month of November. Third, let’s look at days in inventory. How long are houses sitting on the market? In 2011 the average home sat on the market for 11 months before being sold in November. In 2012 the number improved to 6.7 months and last month it improved to 3.9 months. That is a dramatic drop in inventory of over 65% in two years for the average homes ist on the market that sold. What the trends are showing is that the housing market is out of the recession and available homes for sale have decreased to the lowest levels we have seen in over 5 years coupled with prices slowly creeping back up and more buyers out there than homes available and you have signs of a robust market in Charlotte, NC. However; in comparison to last couple of months the trend is showing that the housing market has stabilized and some prices are remaining stable for the past few months with slight increases being seen. Generally this time of the year we start to see homes slowly decline a little bit as sellers are taking their homes off the market with the holiday's. Yes there are fewer buyers now but it still is a great time to sell your home and buy a home. As a seller you have less competition with existing homes and buyers have less competiton when looking at a home and are not feeling as rushed to buy a home in fear that someone else may scoop it up first. The out look is looking good for both sellers and buyers as interest rates are still at historic lows and affordability is high and sellers are taking advantage of the limited inventory to get their homes sold. And buyers are taking advantage of aggressive rates right now before the spring market when it is expected rates will start to increase. Dave diCecco Realtor/Broker Helen Adams Realty Cell: 704-519-7895 ddicecco@helenadamsrealty.com www.davedicecco.com