Archive for August 8th, 2008

Charlotte’s Secret: Its the Weather

August 8th, 2008 categories: Charlotte Living

Charlotte is almost perfect in terms of weather! We enjoy four season weather without the extremes  ~ there is nothing like a crisp Carolina blue fall Saturday, the early April blooms of azalea and tulips in Spring, the occasional peaceful snow storm in winter (better buy milk!) and OK the summers can be hot but hey you can be at the beach in 3 hours 17 minutes  and the picture perfect mountains in under 2 hours!

An sometimes we get a nice surprise like the forecast for this weekend — highs in the 80s with lower humidity — perfect for boating on Lake Norman or Lake Wylie, a short trip uptown to check out the festival du jour ~ this week it’s the Charlotte Irish Summer Festival or a short ride out to explore the antiques and shops in the Waxhaw, Union County areas!

Wish you were here the weather is going to be beautiful!

What do you like best about the weather where you are? 

Authored by Mike Gibbons | Discussion: 2 Comments »

Myers Park Mortgage a Friend of Talk Charlotte Real Estate!

August 8th, 2008 categories: Buying your Home

We are pretty good at helping you find the perfect home in Charlotte but that is only part of the story.

Once you decide on a home we rely on a team of experts to help us close the deal. Inspectors, attorneys and of course mortgage bankers. We are very lucky to have teamed up with Myers Park Mortgage to offer our clients one option for sound financing advice & products with a local feel. Getting the best mortgage interest rate is of course important but it is only part of a successful financing program ~ customer service & communication or (lack thereof) too often make or break the deal! That’s why choosing a solid lender like Myers Park Mortgage is so important!

We have invited one of Myers Park Mortgage’s best (and a really good guy!) bankers, Terry Stutts to write for us about some of the more interesting and misunderstood aspects of financing your new Charlotte home. Welcome Terry what do you have for us this week?

“Today I’d like to share with you some thoughts about an often vexing problem for homebuyers (especially first time buyers) Down Payment Assistance. Down Payment Assistance (DPA) for home mortgages, seems to be going the way that 100% financing has recently gone. Basically, GONE as in gone goodbye! President Bush last week signed a bill that forbids the FHA from insuring mortgages in which the down payment comes directly or indirectly from an interested third party (usually the seller). This bill takes effect October 1, 2008 (also effective 10/1 the minimum down payment for an FHA loan will increase from 3.0% to 3.5%.) DPA is a process that allows the seller to charge more for his home and return that money to the buyer to be used as a down payment. This allows the buyer to purchase a home effectively with little or no down payment.

Of course this is Washington so while this law takes effect, there is a new “counter bill” being introduced that if passed and signed into law will allow DPA to continue indefinitely. Another fine example of your tax dollars at work! This mortgage business is going through a lot of changes ~ at Myers Park Mortgage we feel it is our job to do the homework so our clients can make the best  and most educated decision. I am happy to answer any question you might have ~ please do not hesitate to call Terry at 704-887-9405 or by email”

Thanks Terry, we get a lot of questions about down payments so this will certainly help our clients ~ we look forward to your next guest post!

Authored by Mike Gibbons | Discussion: 1 Comment »

Charlotte Real Estate is Simmering Nicely, Thank you.

August 8th, 2008 categories: Market Trends

Wow. ABC Nightline’s recent story about Charlotte real estate was a breath of fresh air. Living in Charlotte we are lucky to have been pretty insulated from the highs and now the lows of the residential real estate mess.  Charlotte real estate may not have sizzled like Miami or California, more like a simmer — in 2007 homes appreciated 6.5% and today values are holding steady, simmering along nicely.

ABC’s Kate Snow does a nice job with the video pointing out some interesting facts about the Charlotte market:

• Charlotte is a favorite for 25-34 year-olds, no doubt due to the Uptown, South End & NoDa areas
• 2007 median home appreciation 6.5%, 2008 year to date steady
  (On a $350,000 house that’s $22,750!)
• 60-80 thousand people relocate to the Charlotte area each year — enough to over fill our beloved Carolina Panther Stadium
• Hugh McColl (former Bank of America CEO) points out that Charlotte is “no longer an overgrown country town”

So grab a cup of coffee and what the video. Charlotte may not be perfect, but for those of us that live here it’s pretty darn close. We’d like to hear from you…we listen…

If you could ask one question (and you can) about Charlotte what would it be?

Authored by Mike Gibbons | Discussion: Your Comments Please »