CarolinaMortgageConnection.com

Archive for January, 2008

My recent influx of clients have been mostly first time buyers or folks who have relocated to this area from out of state and decided to lease an apartment for a year while they investigated the area.  When I moved to Charlotte, we lived in a rental for a year so that we wouldn’t end up buying a home in an area we didn’t like and to ensure we didn’t overspend our budget.  It didn’t take a mathemetician to figure out that I was moving from an area where the lower end of our market was $400,000 to a place were the bottom end could be less than $100,000.  Read the rest of this entry »

As a Huntersville Realtor, I find it to be extremely important to know how well individual Huntersville neighborhoods are selling.  This is valuable information that I pass along to my buyers and sellers.

Gilead Village is a Huntersville neighborhood that has been building beautiful Saussy Burbank homes since 2001.  There are over 150 homes in Gilead Village.  The neighborhood offers a pool, clubhouse, and recreation area.

Currently there are 5 Gilead Village homes listed in the Multiple Listing Service.  These homes average 1,590 square feet and a list price of $179,878.  The homes that are on the market range between $168,590 and 194,900.

Within the past 6 months, 15 homes have sold in Gilead Village.  The average sales price was $181,368, which was nearly 100% of what the sellers had their homes listed for in the Multiple Listing Service!!!  That is amazingly good!  It’s good to be a seller in Gilead Village, not to mention these homes were on the market for an average of only 53 days!

If you would like more information about Gilead Village, or any other Huntersville neighborhood, please contact me.

Sara D’Amico

SaraD@kw.com

www.BuyandSellwithSara.com

Reprinted with permission. Article source: http://activerain.com/blogsview/332923/The-Current-Market-of

I believe that often people aren’t aware of everything that is involved in completing a real estate transaction successfully.  Many consumers have no idea what it takes to get from start to finish in a real estate transaction.  Whose fault is it that people are unaware/uneducated in this particular area??  In my opinion, real estate agents are the ones to blame.  As a Broker/Realtor, I believe that it is my job to educate people as to exactly what I do throughout a transaction, and why it is imperative that a trained professional be hired to complete these duties.  Read the rest of this entry »

Macaulay is a Huntersville neighborhood of more than 630 beautiful homes.  Construction began in 2000.  Macaualy’s builders are Ryland, St. Lawrence, Shea, and D.R. Horton.  Read the rest of this entry »

Thank you Jackie Lynaugh for contributing a mortgage and real estate glossary to the website. View the common mortgage and real estate terms now at http://carolinamortgageconnection.foundbydesign.net/mortgages/glossary/

Find out more about Jackie at http://carolinamortgageconnection.foundbydesign.net/author/jlynaugh/

So by now you have heard the news. Bank of America is buying out Countrywide for pennies on the dollar. You got to give it to BOA… they got a deal. Of course, it does come with baggage as well, but I think it will still be good for BOA. My question is though, will it be good for consumers….

Read the rest of this entry »

I have tried in many ways to explain the differences between mortgage bank, mortgage brokers and what yield spread premium is. Explaining why my mortgage rates are usually lower than the national banks is not always easy. Of course I have tried the argument that in Charlotte, there is no Carolina Mortgage Connection Stadium. So if you think about it that way, I am not working with the same overhead as some of the larger banks. Read the rest of this entry »

Earlier I was snooping around CNN Money online to get info from Bernanke’s speech today about the Fed Reserve. While there I saw an ad from Bankrate.com, a well “respected” website that is supposed to be objective. For the fun of it, I clicked on the rate comparison for a 30 year loan (which advertised a SUPER LOW rate.) I was then prompted to provide more information about locality, loan amount and down payment. When all was said and done, that rate was nowhere to be found.. and at the bottom of the list of lenders and their “Todays’ Rates” list was this tag: Read the rest of this entry »

Look, I like Suzy. For the most part I think she gives very good solid GENERIC advice on finances. She even has a great product (Suze Orman’s FICO® Kit Platinum*) that helps with credit scores. But here lately Suzy is becoming just another “Talking Head” on the TV.

A colleague of mine recently expressed frustration in dealing with a client. This client wanted to sell their home and had recently watched Suzy Orman advise someone NOT to sell right now, so they were going to wait for now. As my collegue tried to explain to the client, “We do not live in one of those areas that are suffering from a major declining market”, the client seemed to take Suzy’s advice more seriously.

Folks, please remember that when you are getting your advice in life, make sure that the advice you are getting is from good counsel that is not only informed in general, but also knows your own situation. If you watch Suzy’s show, she gives advice to folks on the TV after a 30 second Q&A drill! This means that she has to take a sliver of information about your situation and then provides you with potentially LIFE ALTERING financial advice! Is this the advice you really want to listen to?

Find a professional in your area that can sit down with you and actually offer solid advice based on YOUR situation… not what the media news claims. After all, when the current story changes tomorrow, so will the advice given by these “experts.”

As a professional mortgage lender in Charlotte, I have told folks that they should not buy a home, or they should not refinance their mortgage. YES… I turned business away! Why? Because it was the right thing for that customer! And by doing the right thing for my customers, I will always be able to give solid advice without compromise and my customers know that they can trust it. I am here for the long haul, not just seeking the quick buck!

So if you need financial advice, give me a call. At least I will listen to your entire situation BEFORE offering potentially life altering advice! And you will know that since I took the time to get to know you, you can trust what I am sharing with you.

Thanks,

Ed Nailor

877-411-9327

*promotional affiliate link

Special Contribution Article

We see them all the time with these great lists of investment properties for sale. The prices appear to be good values and, hey - the seller will finance it for you. No credit check! All you need is a small down payment and the property is yours for 10% 12% or 14% interest.  And here is a real money saver - you don’t even need to pay for the closing costs because they are built in and THE APPRAISAL IS INCLUDED. Read the rest of this entry »