Charlotte Real Estate Voice
Everything you need to know about real estate in Charlotte North Carolina
Why Negotiate a Short Sale Instead of Foreclosure?
For many homeowners in financial distress and behind on their mortgage payments, foreclosure on their home may appear inevitable. The truth is, there are viable options for avoiding foreclosure and the pros of a short sale are definitely worth looking into. Short Sale vs. Foreclosure Here are a few facts about shorts sales you may not be aware of: A homeowner who loses a home to foreclosure is not eligible for a Fannie Mae loan for five years. With a short sale, a homeowner will be eligible for a Fannie Mae mortgage in only 2 years. A real estate investor who allows a property to ...
The Skinny on Short Sales Charlotte NC
As more and more foreclosure properties flood the market due to the economy, job loss and a decline in home prices, many sellers are looking to short sales as a way to avoid foreclosure themselves. What is a Short Sale? In a short sale transaction, the lender agrees to accept less than what is owed on the mortgage by the current homeowner. Lenders will usually only agree to a short sale if the property owner is many months behind on their mortgage. The lender(s) and the homeowner strike a deal and typically, the difference is forgiven by the lender(s). In some cases, the homeowner ...
Buying Foreclosure Properties in Charlotte, NC
According to U.S. World News, "More than a million foreclosed and "distressed" properties are expected to hit the market this year from two-bedroom starter homes to 20-room mansions." Typically, the bank will hire a real estate agent to sell the property and many times for much less than what was owed on it. If you are looking to purchase a foreclosure property in Charlotte, North Carolina, the first thing you need to do is find a qualified real estate agent who knows how navigate the foreclosure acquisition process. That person is Leigh Brown, a professional real estate agent serving the Charlotte metro area. Know the Market Value of ...
Quickening the Short Sale Process with Standardization
There has been much caviling in the past few years from homeowners and realtors about inconsistencies and the time it takes to process a short sale. Lack of Short Sale Standardization In response to the situation, the National Association of Realtors® (NAR) created a task force to address the the lack of standardization from one lender and servicer to another. The NAR recommended a more standardized approach to the short sale process with nationally uniform documents, specific time frames and also provides financial incentives for key players, including: Homeowners who successfully complete a short sale under the program receive $1,500 to augment relocation costs Investors get ...
FHA’s 90-Day Seasoning Requirement is Temporarily Lifted
HUD announced that it will temporarily suspend the 90-day seasoning requirement (waiting period) for property re-sales financed with FHA loans. The 90-day wait has made it more difficult for FHA borrowers to bid on foreclosures, thus, slowing down the housing recovery. Why the 90-Day Seasoning Requirement was Established The reason why HUD established the 90-day wait in 2003 was to protect FHA’s mortgage insurance program from predatory lending practices and the impacts of investor house flipping. The policy did not apply to properties repossessed by Fannie Mae, Freddie Mac or state/federally chartered financial institutions. A Move in The Direction of Housing Recovery It is hoped that the FHA’s ...
Rising Unemployment and Obama’s Anti-Foreclosure Program
Foreclosure filings occur about every 13 seconds and continue to impact property values and slowdown the nation’s recovery from recession. According to a recent report from the Obama administration on the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), rising unemployment, falling home prices and mortgage resets continue to threaten millions of homeowners with foreclosure. The Treasury Department hopes to prevent as many as 4 million foreclosures through HAMP, however, "there is reason to doubt whether the program will be able to achieve this goal" stated a recent report. It went on to say that "HAMP was not designed to address foreclosures caused by unemployment, which now ...
Beware of Foreclosure Scams – Charlotte North Carolina
In these tough economic times, many homeowners are facing possible foreclosure. Consequently, foreclosure rescue scams that target families who have fallen behind on their mortgage payments are on the rise across the nation. Unsuspecting homeowners need to beware of foreclosure scams artists who make false promises to save their homes. Instead, they cause financial damage, heartache and hardship. If you are facing possible foreclosure and are seeking professional assistance, you need to make sure the company offering to help you is legit. You need to know who you are dealing with and what you are paying for. If you are aware ...
Avoid Foreclosure with a Charlotte NC Certified Distressed Property Expert®
A Certified Distressed Property Expert® (CDPE) is a well informed licensed real estate professional who, through comprehensive training and experience, understands the hardships many homeowners are facing in today’s market. A qualified CDPE is able to provide viable options, such as short sales, for homeowners in financial distress. When faced with the emotional devastation of possible foreclosure on your home, it can feel like time is running out, your all alone and your options are limited. A Certified Distressed Property Expert® is there to help you. They will stand by your side during this incredibly difficult time and provide alternative solutions that you may not have considered otherwise, such ...
Avoiding Preventable Foreclosure – Making Homes Affordable Program
There is government help available for homeowners in financial distress who are having trouble making their monthly mortgage payments. Borrowers that are current on their mortgage (not more than 30-days late on their mortgage payment in the last 12 months), but are having difficulty making their monthly payments on time, or have fallen behind one or more payments may qualify for a Home Affordable Modification or Home Affordable Refinance. The Making Homes Affordable program is part of the Obama administration’s Financial Stability Plan. The goal of Making Homes Affordable is to stabilize our housing market and avoid foreclosures by helping Americans reduce their monthly mortgage ...
405 Farm Branch Drive, Fort Mill SC
Don't miss the opportunity to see this exceptionable property in desirable Fort Mill. Comfortably exquisite home - just under 6,000 sf on 1.4 acre. Quiet, wooded privacy on pond. Wonderfully light open floor plan includes master on main with spacious bath and oversized custom closet. Inviting gourmet kitchen adjoins keeping room and breakfast area perfect for entertaining. Separate dining and family rooms, study and office/tech center. Additional 3 bedrooms and 3 1/2 baths - plus even more versatile space which could be easily converted to 2 more bedrooms and/or teen/in-law suite (including private access ...
Property Search
Latest Homes For Sale
1008 Rural Farm Rd Indian Trail NC 28079 Short Sale
1008 Rural Farm Rd Indian Trail NC 28079 MLS #913499 is a once in a lifetime Short Sale located at Fieldstone Farm. It has a fenced level...
121 Lake Davidson Park Davidson NC 28036 MLS 859172 Home For Sale
121 Lake Davidson Park Davidson, North Carolina 28036 MLS #859172 Home For Sale with a courtyard that is private and fully fenced in! The...
6400 Pharr Mill Road Harrisburg NC 28075 MLS 909604
6400 Pharr Mill Road Harrisburg NC 28075 MLS #909604 is a magnificent historic home that has been renovated recently. Built in 1915, it...
7325 Howell Ridge Huntersville NC 28078 MLS 907584 Foreclosure
7325 Howell Ridge Huntersville NC 28078 MLS # 907584 is located within the gated community Lynn Estates. It a perfect opportunity for home...
Real Estate News
FHA Upfront Mortgage Insurance Premium Increase April 5th, 2010
It has never been a better time to buy a home with so many exceptional values on the market, government tax credits and historically low interest rates. However, there are some changes headed our way that will have an affect on these favorable conditions. Top heavy home inventory is shrinking more and more each day as buyers take advantage of low home prices. The First-time Homebuyer Credit is... [Read more...]
How You Can Prevent Delays in the Mortgage Loan Modification Process
A mortgage loan modification is when the lender reworks the terms of your existing home loan to make the monthly payments more affordable. Lenders will lower the interest rate, extend the terms of the loan, reduce the principal (although rare) or a combination of any of the above to get the payment down. A mortgage loan modification may tarnish your credit a bit, but it’s a whole lot better... [Read more...]
First-Time Homebuyer Tax Credit – Only Two Months Left
With home prices and interest rates at all time lows and only two months left before the First Time Homebuyer Tax Credit expires, many folks are taking action and looking to buy a home. The $8,000 tax credit, extended and expanded to include current homeowners in 2009, expires on April 30th, 2010. Qualifying for the Tax Credit In order to qualify for the credit, homeowners must be under contract on... [Read more...]
The Oracle of Omaha’s U.S. Housing Market Predictions
Warren Buffett, known as the ‘Oracle of Omaha’ - billionaire, businessman, philanthropist and one of the most successful investors in the world – predicts that the U.S. residential real estate market down-slide will show signs of recovery by 2011. Over the last ten years Buffett’s Berkshire Hathaway Inc. has steadily built up the nation’s second-largest real estate... [Read more...]
New Home Buyers Tax Credit – Only Paper Filings Allowed
According to a federal audit released last October by the Treasury Inspector General for Tax Administration (TIGTA), nearly 90,000 taxpayers claimed the New Home Buyers Tax Credit, for which they were not entitled to. More than 1.2 million tax returns had claimed approximately $8.5 billion in the refundable tax credit. Although the rules of the tax credit define a “first time home buyer”... [Read more...]
Rising Unemployment and Obama’s Anti-Foreclosure Program
Foreclosure filings occur about every 13 seconds and continue to impact property values and slowdown the nation’s recovery from recession. According to a recent report from the Obama administration on the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP), rising unemployment, falling home prices and mortgage resets continue to threaten millions of... [Read more...]
Avoiding Preventable Foreclosure – Making Homes Affordable Program
There is government help available for homeowners in financial distress who are having trouble making their monthly mortgage payments. Borrowers that are current on their mortgage (not more than 30-days late on their mortgage payment in the last 12 months), but are having difficulty making their monthly payments on time, or have fallen behind one or more payments may qualify for a Home Affordable... [Read more...]
Why Negotiate a Short Sale Instead of Foreclosure?
For many homeowners in financial distress and behind on their mortgage payments, foreclosure on their home may appear inevitable. The truth is, there are viable options for avoiding foreclosure and the pros of a short sale are definitely worth looking into. Short Sale vs. Foreclosure Here are a few facts about shorts sales you may not be aware of: A homeowner who loses a home to foreclosure is... [Read more...]
Avoid Foreclosure with a Charlotte NC Certified Distressed Property Expert®
A Certified Distressed Property Expert® (CDPE) is a well informed licensed real estate professional who, through comprehensive training and experience, understands the hardships many homeowners are facing in today’s market. A qualified CDPE is able to provide viable options, such as short sales, for homeowners in financial distress. When faced with the emotional devastation of possible foreclosure... [Read more...]
USDA Rural Home Loan Program Helps Low Income Families with Affordable Housing
Many rural households across America are economically challenged, mainly because they are not in close enough proximity to good paying job opportunities. As more individuals and families are forced to move to big cities for employment, fewer people are left to continue the farming business and commercial activity in these rural farming communities. The United States Department of Agriculture (USDA)... [Read more...]
Commercial Real Estate Delinquencies & Defaults on the Rise
Although the U.S. housing market is showing glimmers of recovery, the commercial real estate sector is another story. The weak economy, rising unemployment rate, falling real estate values and more stringent than ever underwriting standards have made refinancing much more difficult for commercial real estate property owners. Phillip F. Blumberg, chairman of Blumberg Capital Partners, says that... [Read more...]
Buying a Home and Your Credit Score
Once you’ve decided to buy a home, the first thing you will need to do is assess your financial situation and qualify for a home loan. A mortgage broker is going to take your credit and income information and then create a profile on you as a long-term borrower. Your credit score is a one of the key components lenders use to determine how much of a risk you are. Fair, Isaac and Co or FICO scoring... [Read more...]
Quickening the Short Sale Process with Standardization
There has been much caviling in the past few years from homeowners and realtors about inconsistencies and the time it takes to process a short sale. Lack of Short Sale Standardization In response to the situation, the National Association of Realtors® (NAR) created a task force to address the the lack of standardization from one lender and servicer to another. The NAR recommended a more standardized... [Read more...]
Don’t Miss the 6th Annual Greater Charlotte Home & Landscape Show
If you’re looking for a little inspiration or more curb appeal for your home, you don’t want to miss the 6th Annual Greater Charlotte Home & Landscape Show. The popular event starts Friday January 29 – 31, 2010 and will be held at the Cabarrus Arena and Events Center in Concord, NC. The event is suitable for the entire family and will feature thousands of square feet of innovative... [Read more...]
Realtors Step Up to the Plate in Donations for Haiti’s Countless Victims
“Realtors Build Communities and there is no better time to do that in Haiti.” According to United Nations data issued on Tuesday, more than 1.2 billion dollars have already been pledged in aid funding to devastated Haiti, struggling to recover from last week’s deadly earthquake. International organizations, individuals, countries and private companies have generously donated funds while others... [Read more...]
Leigh Brown, aka The Real Estate Diva, is a native of Concord NC in the Charlotte area. She grew up on a farm at the edge of Cabarrus County, still goes to the same church she grew up in (home of the world famous Mallard Creek Barbecue!), but has become a leader in area real estate through constant learning and continually upgrading technology to better serve buyer and seller clients. Leigh does indeed have a reputation as a barracuda-when it comes to protecting client interests. Her softer side is reserved for her husband and two kids who provide a constant source of joy-and entertainment
Follow Leigh On Twitter and Facebook
