Changes That Sell Your Charlotte Area Home

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Changes That Sell, Changes That Don’t

Think home improvements will substantially increase the selling price of your home? You may want to think again. Before you invest a lot of money into home improvements and upgrades, you should consult with a real estate agent to determine which changes will most impact your home’s sale.

Some renovations not only fail to improve resale profits, but could actually detract from your home’s overall value. Swimming pools, water gardens and greenhouse additions fall into this unfortunate category.

So if you’re considering the change simply to increase the value of your home, check out this list first. The list from the National Association of Realtors® includes improvements that enhance the sale of your home and an estimated rate of return on the improvement or upgrade. This information is based on 2006 national averages.

  • Remodeled kitchen, 80.4% (major upgrade). 85.2% (minor upgrade)
    Kitchen updates can offer a solid payback. Simple, functional and neutral are the key words here.
  • Second Bath, 74.9%
    Add a second full- or half-bath to your home and you’ll reap some benefit. Even a humble lavatory can make a difference for many potential buyers.
  • Family Room Addition, 71.5%
    This is one of the most popular choices for improving resale value.
  • Remodeled Bath, 84.9%
    With a master bath on most buyer wish lists, this is a wise place to invest your money. Consider installing two sinks, which goes over big for buyers who have to handle morning rush hour.
  • Deck, 76.8%
    Regardless of locale, outdoor living spaces are in high demand. Low-maintenance deck materials give potential buyers more time to enjoy the view.
  • Finished Basement, 78.8%
    A terrific way to add space without building a costly addition is by simply finishing your basement. And if you can include walk-out access in the mix, you’ll add even more value.
  • New Windows, 85.3% (wood), 83.7% (vinyl)
    New windows can offer reduced energy bills, which is very appealing to prospective homebuyers.

 Now if you aren’t ready for major home improvement projects like these, get started with some quick-fixes to make your house more appealing. For additional advice, contact a Carolina Living Agent.

Finding The Right Realtor For Your Real Estate Needs

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Another Reason To Choose Carolina Living, We understand…

Whether you are looking for a home of your very own or are interested in creating a long term working relationship with a realtor for the purposes of property investment it is very important that you find a realtor who will listen to your needs and wishes and act accordingly.

The right realtor for your needs can mean all the difference in the world between a successful and profitable transaction now as well as many more in the future (if you plan on investing in multiple properties). Below are some important things to notice when selecting a realtor that will meet your needs.

1) Does the realtor you are considering listen to your needs? This is important as it will save you both a lot of time and money in the process of finding the perfect home for your family or for an investment property. If the realtor is constantly presenting properties that do not meet your budget or price requirements it might be a good idea to either lay down the law or find a realtor that is willing to expect your wishes and needs.

2) Does he or she ask questions and provide appropriate feedback? This indicates a direct interest in your needs, which is important-particularly when planning for a long-term investment relationship though some find it even more important when purchasing a home for their family home as this is a personal matter rather than a business matter. We all have a tendency to be more selective when placing the welfare of our family in the hands of another.

3) Do you feel comfortable dealing with the realtor you are considering? As I mentioned above we tend to be a little choosier when selecting professionals to help our families. Why on earth would be any less so when it comes to the realtor that will help our families find a home? Rapport is a good word to describe the sort of relationship you need to develop with your realtor. Do you have a good rapport with a potential realtor? If not, then move along. There are many realtors in most cities and there is absolutely no reason that you should deal with a realtor that doesn’t make you feel comfortable and secure.

4) How well does the realtor in question know the area in which you are seeking a home? There are many things that make a home a ‘good buy’ for residential and investment purposes. You want a realtor that has his or her finger on the pulse of the city and the various areas of interest, growth, and decline within the city. School districts matter more now than at any other time in our history in most cases, he or she should know about the schools, new business developments, and the value of property in the area (as well as the tendencies of property values to rise or fall over the last several years).

5) Does the realtor in question have specific experience dealing with your specific real estate needs? Whether you are planning a residential transaction or if you are seeking investment property you will need a dedicated and experienced professional that can help you meet your goals.

Realtors are a dime for a dozen in most cities and competition is fierce. There is no reason whatsoever that anyone should suffer with an agent that you do not feel is working for you or have your best interests at heart. If you invest a little bit of time and energy shopping around for the right realtor to meet your needs, you will find that your real estate transactions will take much less time and effort for this small sacrifice. It is much better to make the decision based on a few careful interviews in the beginning than after looking at fifty or more homes that do not meet your needs or price range. Then you have wasted a great deal of time and effort and you must still either risk wasting more time and effort or take the time to select another realtor for your real estate needs.

It has been said that you should also select a real estate agent and company with a significant online presence. This means that he or she is making use of the available technology in order to offer more options to you as the consumer.

Carolina Living is the leader in the Charlotte, Gastonia, Lake Norman and surrounding areas when it comes to technology! 

Buying a house can be a mind-boggling process for the average person. Having a good realtor can make the process work so much more smoothly.

Contact your Carolina Living Agent for all your Charlotte NC real estate needs.

Carolina Living Search Engine Analytics

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At Carolina Living Real Estate, we continually strive to enhance our position on the search engines.  This enables us to help both our buyer and seller clients.  We take great care in analysing how our websites are performing.  Below are some example statistics on two of our websites we monitor.  This is just a sampling of what we look at daily to enhance our sites and is also an example of what we teach our agents. NOTE – Statistics have increased greatly since images were captured!

Click on an image to see details.

Home Listing Syndication

Your home can be advertised on websites all across the web, making sure buyers see your home and everything it offers. Here are some of the national sites where your home will appear:

Carolina Living Real Estate Listing Syndication

Contact your Carolina Living Agent for all your Charlotte NC real estate needs.

Top Home Buying Mistakes

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RealEstate.com suggests buyers get to know these common home buying  mistakes.

Doing it alone:  Buying a house is a complex transaction.  You’ll need a real estate agent, lender and an inspector to help get through the transaction.

Getting emotionally attached:   Buy a home that fits your budget and your lifestyle. Be sure the home is in a community and neighborhood you desire. Do your homework with your Realtor and make sure you can afford the home and it fits your needs.

Shopping without being pre-qualified: Being pre-qualified gives you a general idea of how much you can afford to borrow. It gives you some bargaining power and keeps you from getting emotionally attached to a home you can afford. 

Overbuying:  Home buyers buying more than they could truly afford, in part, led to the collapse of the housing market.  Analyze all your monthly costs including debts, food, transportation, entertainment, and savings. Ask about average utility costs and taxes.  Don’t forget to budget closing costs (your lender is rquired to supply a Good Faith Estimate), plus moving, redecorating and maintenance.

Misplaced trust:  Ask family, friends, co-workers, professionals and others you trust for referrals, but don’t take their word for it. Make sure you are comfortable with your Realtor and trust that they have your best interest in mind (not their own)

Get everything in writing. The home inspection, disclosures, the contract. Always. Should a dispute arise, you’ve got the details documented.  Fortonuately with the new lending laws, everytime anything changes your lender must disclose the change!

Read the fine print: Make sure your Realtor explains all the contractual docuements. Don’t sign anything without feeling comfortable with what you are signing.  If you Realtor struggles to explain any parts of the contract, run away!

Ignoring resale potential: Avoid buying a home that costs a lot more than neighboring homes. Reconsider buying the most expensive home on the block. Check on foreclosures in the neighborhood and make sure your Realtor does his/her homework on the market analysis.

Protect yourself with these contingencies:

• Mortgage financing. You may be preapproved but is the house? A formal appraisal confirms — or not — that there is sufficient value in the home to confirm a loan. If the house appraises lower than the sales price, the loan will be declined.

• Inspection. Never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have.

Contact your Carolina Living Agent for all your Charlotte NC real estate needs.

Determining The Value Of Your Charlotte Area Home

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charlotte real estate

Mortgages depend significantly on the value of the property that is involved. Consequently, it become important to know how much a property is worth before heading into refinancing plans, looking for a home loan, or selling a house.

One way to do this is to determine the market value of the property. A simple way to do this is to look at other comparable homes in the same neighborhood and see what prices they have been sold recently. One of your Carolina Living Realtors can assist you with this and will come at no cost to you.

Another way to find the value of your property is to find its appraised value. To do this you need to pay for the help of a trained and licensed professional. They will take into account a variety of factors, including the home’s square footage, construction quality, floor plan, design, surrounding neighborhood, proximity to important services and locations, as well as the landscaping, among other factors. An appraiser will usually cost anywhere between $200 and $300. In the current Lake Norman real estate environment, appraisals have become pivitol in the actual sale of the property. Short sales and foreclosures in the Lake Norman area have caused some of our appraisal values to decrease causing transactions to fail to close.

An appraiser can also tell you the replacement value of the property. This is how much an appraiser estimates it will cost to build a similar house on an unoccupied lot. The appraiser will take the age of the home into account to make a better estimate with deterioration and depreciation in mind.

One important thing to note is that a home’s estimated value is not the same as its worth. A home’s estimated value is defined by one of the methods listed above, while its worth is eventually established by what potential buyers are willing to pay for it.

Some things we have experienced in the Charlote and surrounding areas.

  • Tax value does NOT determine value of the home. It has nothing to do with market value.
  • Neighbors do not know the value of a home. Of course they are wanting values of homes to be very high.
  • Current list prices of homes, while helpful, do not determine the value of a home.