The Carolinas are known for being a great place for raising families, low cost of living and running a business.  What it is not known for is having lots of entertainment.  But I am finding that there are more little hot spots popping up all around the city.  More things to do for families and singles. 

As a realtor, I am expected to be aware of the latest and greatest happenings around the city, so I am always on a quest to find out new things to do and places to go.  Recently my husband took me to see a movie downtown at the Epic.  Whoa! Really nice!  Then a friend told me about the Ballantyne theater.  Again, really nice!  Those venues are not appropriate for my 9 year old mind you, but it was a nice adult atmosphere.  For the family, I came across a place called Great Wolf Lodge.  Apparently it offers a indoor waterpark, suites that resemble caves and cabins.  What an excellent concept.  Located just a short commute from Charlotte in Concord this facility opened April 3rd.  There is always places like Carowins and National Whitewater Center that could easily fill your day with activities.

The newest attraction is SnowPark USA.  SnowPark USA will open its newest location in Charlotte, NC at Symphony Park next to SouthPark Mall on November 27, 2009.  

I encourage locals and visitors to take advantage of each opportunity that Charlotte has to offer.  After all, who knows how long you will be conveniently located 2 hrs from the mountians, 3 hours from the beach, and among some of the best sports venues in the country.  Go out there and enjoy!

My previous post pointed out 5 things that really matter on your credit. Actually, it all matters!  However everything isn’t weighed equally.  Look at the list of items that show up on your credit report:

1.  Consumer Referral Information - The contact information for the credit bureau completing the report.

2.  Inquiring Company -  The name and address of the company requesting your report.

3.  Order # - Reference number on the report.

4.  Reporting Sources - Names of the nat’l reporting agencies providing information for the report.

5.  Your identifying information.

6. Your credit score(s).

7.  Reason Codes - includes the manner of payment or current account status.

8.  Your previous addresses and employment

9.  Summary Report - includes trade lines, public records and inquires.

10.  Creditor, your account number and when the account was opened.

11.  Type of account - revolving, open account, installment, or mortgage.

12. Last date your creditor updated the account.

13.  High credit limit and how much is currently owed.

14.  Current rating - codes describing an accounts type and current rating.

15.  History - the number of times an account has been past due and the length of time it was past due when paid.

16.  Date of last activity on your account.

17.  Number of months and payment amounts to pay the loan.

18.  Equal Credit Opportunity Act codes.

19.  The pay pattern.

20.  Date that the account was delinquent: includes account type and rating.

I’ve just sold a Resale - single family property at 2212 Pimpernel Road in Charlotte. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

In my continuation of the Credit Series, you should be aware of the 5 things that lenders really care about when viewing your credit report:

1.  Identifying Information - Does your name, present & past address information, line up with what is on the credit report. We are in a time where identity theft is commonplace.  Its important that the information you represent is in alignment with the credit agencies.

4.  Credit Score -  The two most widely recognized are the Beacon and FICO score.  Each of the three credit bureaus rate you according to a score that can range from 450 to 850.  Of the three scores obtained, the middle score is used.  If the scores are 785  755 and 722, your score is 755.  Not all people have credit scores.  In order to get a credit score, you have to have no ‘deceased’ indicator on your file, at least on undisputed trade line, and another trade line open for at least 6 months.

3.  Trade Lines - These are the credit accounts that you currently have, whether they are open or closed.  For instance, to qualify for certain mortgages lenders would like to see four good trade lines. Good trade lines are credit accounts that you have had longer than 12 months and have been paid consistently on time during that period.

4.  Inquires - When you apply for new credit or a current creditor inquires about your credit status, an inquiry will appear on your file.  Too many of these can create a red flag. For instance, if you have applied for 5 credit cards over the course of 2 weeks, that is a sign of economic distress to a creditor.  Inquires abour mortages or car loans are signs of economic confidence.  Either way, inquiries tend to lower your overall credit score.  However, anything over 10 inquiries will not hurt your credit score.

5.  Public Records and Collection Items - Judgements, bankruptcies, and collections are all reported on the last page of the file. 

Derogatory reportings are not life sentences and your credit can be turned around.  With time, attention to detail and a few of my credit pumping tactics, your credit will be on the road to recovery.  Read my blog on How to Pump Up Your Credit

I’ve just sold a Resale - single family property at 11117 Gold Pan Road in Charlotte. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

I’ve just sold a Resale - single family property at 11117 Gold Pan Road in Charlotte. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

The recent downturn of property values have really been disappointing to builders, realtor’s, and homeowners especially.  Many homeowners believe since their property value has diminished over the past 2 years, so should their taxes.

Now market value is different from tax value.  A homes market value is what a buyer is willing to pay for the property.  This value considers other like kind properties that have sold within a 5 mile radius within a 6 month period.  Market value however does not equate to tax value entirely.  Tax values are presumed to be correct.  The presumption places the burden upon the homeowner to prove the value to be incorrect.  NC observes a octo-centinnial tax raising and after four years they have the option of raising taxes at that time up til the eight year.  Mecklenburg county has not performed a tax evaluation since 2003.  From 2003 - 2006, property values soared, but tax values remained the same.  Homeowners realized a benefit of having a property whose market value exceeded their tax value without any tax liability connected.  Now that the adverse has occurred, homeowners want to their market value to equate to thier tax value. 

This is a tough situation to manuver since the property values effected are so widely distributed throughout the city.  I have even had homeowners and past clients to ask me if I thought they had a chance in disputing thier properties ‘high’ tax value.  However, there are only five (5) reasons that a county can lower property taxes according to the Machinery Act of North Carolina: 1 - Correct a clerical or mathematical error. 2 - Correct an appraisal error resulting from a misapplication of schedules, standards, and rules. 3 - Recognize an increase or decrease in the value of the property resulting from a conservation or preservation agreement subject to Article 4 of Chapter 121 of the General Statutes, the Conservation and Historic Preservation Agreements Act. 4 - Recognize an increase or decrease in the value of the property resulting from a physical change to the land or to the improvements on the land. 5 - Recognize an increase or decrease in the value of the property resulting from a change in the legally permitted us of the property.

So though few residents have a valid case to dispute their property values, it is good to know  that there is a consistency that will remain among neighborhoods/areas regard their values.  Market values across the board will rise again.

I’ve just sold a Resale - single family property at 2206 Mullis Lane in Matthews. Come and visit my site to see other properties in that area. If you are interested in looking for or selling your home, please Contact Me.

This is probably the single most important consideration to keep in mind when buying a home.  In the real estate business, it is said that three things count in establishing property value:  location, location, location.  Houses may be updated, renovated, and improved, but neighborhoods and communities tend to retain their basic character and market value over periods of time.  Ask the following questions:  Is the home in a safe neighborhood where people want to move, buy homes, and raise families?  Is there access to schools, transportation, and shopping?  Is the area run-down, filled with high crime, or noisy?  Are people moving away to better places to live? 

Look for an area where homes sell quickly and easily.  It’s a good sign if houses stay on the market for a shorter period of time; if it takes six months or more for homes to sell, look elsewhere.  Avoid neighborhoods with a large number of undeveloped lots, abandoned homes, poorly maintained homes and yards, a large number of FOR SALE signs, or mixed zoning (commercial and residential together).

In this unsettling economic climate, how does a seller price real estate to achieve a winning sell and the buyer gain the prize considered a deal?

Buyers expect a reward to win. Credit worthy buyers are likely able to bring offers that are real and deserve valid considerations. Sellers require a profit to win. Long term owners (those possessing real estate for five to ten years consecutive years or more) are set to achieve success. How do sellers price real estate competitive and get interested buyers, set asking prices high enough to allow negotiations with a range that buyers need to assure themselves they purchased at a discount and sellers achieve a profit?

In 2003 I showed a home reduced in price to generate a quick sale. The established price made the property a superb buy. My buyer customer liked the house and made an offer (87% of list price) on the home. The offer was rejected. When I asked my customer if he would have been satisfied with the purchase price if the home had originally been listed more and he’d offered nearer list price, my customer stated “buying the home at a discounted price was higher priority than finding the right house at any given price point.” He refused to pay full list price, despite the fact, the list price was much below comparable homes in the area.

Sellers find it difficult to comprehend that part of the appreciated value in their home has recently evaporated. However, for those selling a home owned for five to ten consecutive or more years, the home’s appreciated equity is great enough to permit competitive pricing, room for negotiation, and the seller achieve a profit. When you compare these profits to the worth of stock and retirement portfolios, sellers in South Carolina generally realize fair success in real estate transactions. It is true, some sellers are upside down in their mortgages. However, sellers owning for more than five to ten consecutive years or more, are likely poised for a profit?

If you are an owner with equity to negotiate and a desire to sell, let grace rule and gratitude soar…

Buyers and Sellers Win.