Charlotte NC First Time Homebuyers Blog

Home Sales & Prices in Charlotte NC Up Again

Mitch Muller — Wed, 17 Feb 2010 01:59:32 +0000

Charlotte NC Real Estate – Home prices in Charlotte, NC rose again in January 2010, up 6.1% from January 2009 according to the Charlotte Regional Realtors Association. Sales of single family homes also rose 8% over the same time last year. This is the fourth consecutive month in a row sales have increased. Obviously the $8000 tax credit had a lot to do with this. If you are a first time home-buyer, or haven’t owned a home in the past 3 years, now’s the time to take advantage of this golden opportunity while it lasts and while interest rates and prices are still low. Hurry, call me or your Realtor today!

Fannie Mae offers to pay buyer’s closing costs on select homes!!

ocarder — Tue, 09 Feb 2010 22:21:48 +0000

If you buy a Fannie Mae foreclosure before May 1st, they will give you 3.5% towards your closing costs!!!

That’s right, if you buy a Fannie Mae foreclosure you can qualify for special HomePath Financing AND get 3.5% from Fannie Mae to cover your costs. HomePath financing offers a low 3% down payment and NO PMI!!!

If you would like to view what properties are currently available you can visit www.homepath.com but be sure to select properties that show this logo at the far right…

Some of the properties need major repairs and most lenders (including my company) are not offering the renovation loan right now. The logo for the ones needing all the work looks like this…

Time’s Running Out!

Mitch Muller — Sun, 07 Feb 2010 18:10:37 +0000

Charlotte NC Real Estate – There’s still time to take advantage of the $8000 dollar tax credit but time’s running out. You must be under contract by April 30th so that leaves you less that 3 months to find a home. Take into consideration a couple weeks for negotiations inspections etc, if you were to find a house in the next few weeks and for some reason the deal falls through, you suddenly have less than a month to find another house! If you haven’t started looking, it’s time to get cracking! There are lots of good deals out there and the interest rates are still great as well!

I’m ready to buy my first home, now what?

Mitch Muller — Mon, 04 Jan 2010 22:53:04 +0000

Now’s a great time to buy real estate and I get asked this question a lot, “I’m ready to buy a home, where do I start?” The first thing I always recommend is we meet me for a buyer consultation. In this meeting we go over numerous things, first and foremost, to see if you really are ready? Are you financially ready? How is your credit? Have you spoken to a mortgage lender to see if you qualify? What type of loan is the best for you? Do you have the money needed for down payment, closing costs, escrows, etc. Do you have cash reserves in the event of an emergency? I recommend at least 6 months living expenses in reserves and very low debt before you buy. The last thing I want to see any of my clients do is eat beans and rice for the first few years after you purchase a home, much less call me in a year to sell because you got in over your head. These are just a few of many more things to consider. Coming up in future articles I’ll discuss in detail, the step by step process to purchasing your first home and how to achieve the American dream of home ownership!