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A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank's Loss mitigation department. A Realtor can help you through this process and negotiate with the bank on your behalf.

What does this mean for you as a BUYER? Because of the current mortgage crisis and the large number of homes that are facing foreclosure, there are many short sale listings currently available for purchase in Concord North Carolina and the surrounding areas. These homes are available at BARGAIN prices, so they can be sold quickly, before the bank forecloses on the property. This is a WIN WIN for you and the current homeowner.
So, If you are currently in the market to purchase a home in the Concord NC area and would like the help of a Realtor who has experience representing Buyers in short sale deals, GIVE ME A CALL! I'll help you find a great home at a great price!
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Some segments of the real estate market in Concord North Carolina may be experiencing slower than average sales this year, however basic starter homes are still fairly HOT properties in the current market.
I do a lot of searches for first time home buyer clients, who are looking for a basic 3 or more bedroom, 2 full baths or more, 1 or more car garage home that is priced up to $150,000. Homes matching this criteria in Concord that are in good condition and priced competitively are selling quickly. Right now, this search produces 87 active properties and 39 under contract properties (including conditional, contingent & pending). I say, that's not bad for a "slow" market... that's over 30% of these homes currently under contract!
162 properties matching this search criteria have closed between 1/1/2008 and today 10/3/2008, compared with 202 for the same time period in 2007. A Comparative Market Analysis of these sales provides the following information:
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# of Sold Properties | Average % SP/LP | Average List Price | Average Sales Price |
Average Heated Sq Ft |
Average Days on Market | ||||||
| 1/1/08 to 10/3/08 | 162 |
97% |
$130,763 | $127,248 | 1512 |
74 |
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| 1/1/07 to 10/3/07 | 202 | 98% |
$135,957 |
$133,629 |
1463 |
56 |
The comparison of the properties sold during these two periods, shows that buyers are getting more square footage or their money this year. So, now is the time for buyers to get good value for their investment in Concord NC real estate!
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Southern Winds Realty : 10023 Edwards Place - Mint Hill NC 28227 : 704-564-0807 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Southern Winds Realty : 10023 Edwards Place - Mint Hill NC 28227 : 704-564-0807 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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You can feel Fall in the air and The Carolina Renaissance Festival is back in town! Opening day is this coming Saturday October 4, 2008 and it will open every Saturday and Sunday until November 16. For all the details visit their website by clicking the logo...
Enter to win 4 FREE TICKETS by visiting the following WSOC TV link http://www.wsoctv.com/sponsors/17187417/detail.html !
My 22 year old daughter has attended the Renaissance Festival for the past 6 years and wouldn't miss it. She thinks that is is so much fun that she has even made multiple visits each year! She has a special group of Renaissance Festival friends that she goes with every year, but many of them won't be in town this year.... SO me and my husband been invited to go with her (and my 20 year old daughter) this year!! I'm so excited.
Here's some basic information for you....
Hours: 10:00 a.m. until 5:30 p.m. rain or shine.
Location: Just north of Charlotte between Concord and Huntersville on Highway 73 at Poplar Tent Road (between I-77 and I-85). Exit 25 on I-77 or exits 52 or 55 on I-85.
Parking: FREE
Advance Discount Tickets: $17 for adults, $6 for kids ages 5-12, available at Harris Teeter Stores region wide. Children under 5 are always free. Tickets purchased at the gate are $1 more. Senior discount tickets (60 and over) are $16 at the gate.
CLICK HERE for coupon information, including Save $16 on opening weekend admission by receiving two adult tickets for just $20 at the Festival box office with coupon.
Hope to see you there!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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