Short Sale and Pre-Foreclosure Townhomes/Condos in the towns of Huntersville, Cornelius, Mooresville, Davidson and Denver.

Due to the economic meltdown the Lake Norman area of Charlotte has experienced a large number of distressed properties. That only enables a lot of buyers to capitalize on the outstanding buys. However, if you qualify for the First-Time Home buyer incentives you may want to start looking ASAP.

The major disadvantage of buying a short sale home is time (as long as you are purchasing a sound home with not major damages and sometimes the money saved outweighs this as well). If you have the patience and are not in the same situation as many home buyers (wanting to get in the home right now) then you may find a great deal.

The deadline for The First-Time home buyer incentive is May 1, 2010. That gives you just over 2 months go into a binding contract.

Mike Carpino
Owner/Broker
Mike@LakeAndTown.com
704 301-9264

Possibly, Ethics! See a real estate "agent" is someone who took the state license test after studying the material. They did not have to have been in real estate prior to the state test. They can simply find any real estate company that will allow them to "hang their license" and they're off and practicing real estate with buyers and sellers.

On the other hand, Realtors go a step further. We pay into an association that has operations on the national, state, and local levels. And these associations do alot more than allow agents to hang their license. They are filled with advocates that influence congress regarding issues that affect prooperty owners, buyers, and renters of real estate. Always for the best interest of the general homebuying / homeowning public, real estate agents, home builders, and developers in mind.

The National Assn of Realtors is one of the largest associations in the United States, representing a large group of individuals that has a voice in the White House, tackling issues on a legislative level that affect the general public and the industry directly.

Twice a year, at minimum, we must take Mandatory Update Continuning Education courses that keeps us up on the legislative issues, the industry on a national level, changes in our market on the state and local levels, in addition to educating us on the latest laws and trends in technology so we can better assist the public. We also have a Code of Ethics we must follow or be subjected to reprimands by the association, and possibly the real estate commission.

We, Realtors, uphold a pledge, just like oaths taken by other professionals, and it goes like this:

I am a Realtor. I pledge myself to protect the individual right of real estate ownership and to widen the opportunity to enjoy it; to be honorable and honest in all dealings; to seek better to represent my clients by building my knowledge and competence; to act fairly towards all in the spirit of the Golden Rule; to serve well my community, and through it my country; to observe the REALTORS Code of Ethics and conform my conduct to its lofty ideals.

Realtors pledge to be honest and treat everyone in the transaction fair. If you have an agent that is not a Realtor, you must ask Why have they chosen not to be a Realtor? And if they say because Realtors pay too many fees, then you should wonder - "If he wishes to save money by not being part of an organization that has him and his business in its best interest, then what else is he willing to cut back on...good customer service?" Hmmmm

If you'd like to learn more about the difference between a REALTOR and a real estate Agent and learn the steps to homeownership, feel free to contact me via email at RaineSpivey@Gmail.com or call Toll Free at (866) 99-RAINE (7-2463).

6 ways to ensure a remodeling project pays off!

Just a few years ago you could count on getting the bulk of your money back for almost any home-improvement project you took on. Today merely replacing a toilet seat can feel like throwing caution, and cash, to the wind. According to a study from Remodeling magazine, the average return on value for an upgrade declined from 87% in 2005 to 64% in 2009. But these six new rules will help you maximize your return on your remodeling investment.

Rule No. 1: Repairs get the biggest returns

The smartest money now goes into "undeferring" needed maintenance. That's because while buyers might appreciate enhancements like Jacuzzis and Sub-Zeros, they won't tolerate a house with a leaky roof or antiquated plumbing. "If a property is known to have issues, today's buyers won't even look at it," says Austin real estate appraiser Jim Amorin.

And trying to keep problems a secret can cost you big-time. If buyers discover them during inspection, it's now common practice to ask sellers not only to pick up the tab for the repair but also to pay a penalty to compensate the buyer for the inconvenience of having work done.

So the $20,000 you saved by putting off a roof repair, say, could turn into a $30,000 credit to the buyers at closing, says Amorin.

Rule No. 2: Remodeling beats adding on

McMansions have gone the way of the SUV -- and large additions don't pay off either. "There's been a fundamental shift toward quality over quantity," says Warwick, R.I., real estate agent Ron Phipps.

Having a big, formal living room plus an everyday family room is less desirable than having one multi-use common space. So rather than adding on, you're better off repurposing existing square footage by reconfiguring the floor plan or capturing unused basement or attic space.

Want an eat-in kitchen? Knock down the wall between the kitchen and dining room ($2,000 to $8,000, depending on whether it's load-bearing or contains plumbing). That will instantly create a large eat-in kitchen and give the whole house a more open feel -- without a huge investment to make up at resale.

Rule No. 3: Eco-friendly upgrades can save cash

Some green improvements pay you back long before you sell your house. Install energy-efficient features, such as EnergyStar appliances and extra wall insulation, and you'll see lower energy bills every month.

Add in the federal tax credit of up to $1,500 that lasts through 2010, plus many local rebates and tax incentives (see dsireusa.org), and the work may pay for itself in just five years. Green features are also increasingly a selling point, says Phipps. "Most people in the market right now are first-time homebuyers in their thirties, and they've been raised to care about carbon footprints and being ecofriendly," he says.

The best way to go green is with a while-you're-at-it job: When it's time to replace your furnace, for example, upgrading to super-efficiency might add only $500 (after tax credits), compared with standard new equipment, but it will save you -- and your buyers someday -- $150 or more in annual heating costs.

Rule No. 4: Tech infrastructure trumps cool gadgets

Home electronics seem like a deal, since prices have fallen about 50% over the past three years and continue to drop, according to Stephen Baker, president of industry analysis at NPD Group, a market research firm.

Still, that doesn't change the fundamental problem with expensive built-in technology: Put in a $10,000-plus dedicated home theater today, and something better will come along tomorrow and make your system look as if it's from the Mesozoic Era. With buyers seeking any excuse to low-ball their offers, they're not going to reward you for an out-of-date system.

Tech infrastructure is different, however. Anytime you're opening up walls for a construction project, have cabling and Ethernet ports installed. At about $80 a room, it's a low-cost way to provide the capability for whatever technologies come along.

Rule No. 5: Let the Joneses be your guide

During the boom, you could be the first on your block to have a luxury kitchen, spa bathroom, or in-ground pool and count on others following suit. And even if the neighbors never took your lead, there was plenty of equity growth to cover your costs.

Nowadays that fudge factor is gone. "You really have to keep your house's amenities in line with the neighborhood now," says Kermit Baker, director of the remodeling futures program at Harvard University's Joint Center for Housing Studies.

If other houses on the block have real marble countertops, by all means add one to your house, but if everyone still has faux blue-marble Formica from the '70s, you're not getting your money back.

Also, keep your projects design-neutral so they'll appeal to the greatest number of people. Choose neutral colors and traditional electrical and plumbing fixtures unless your house has a modern architectural style.

Rule No. 6: The new payback time is five years

As with any volatile investment, the longer your time frame, the lower the risk. Don't take on a big project if you're likely to move in less than three to five years. There's just too much chance that any money you put in -- aside from necessary repairs or superficial cosmetic work -- could be lost while the housing market continues to meander.

But if you plan to stay awhile, don't delay starting a project. Home improvements are a bargain right now, with contractors bidding 10%, 20%, even 40% lower for the same work than just a year or two ago, says Bernie Markstein, senior economist for the National Association of Home Builders.

Grab them while they're hungry for work and make it clear that you'll be getting multiple bids so they'll be motivated to undercut one another's prices. You'll fulfill the first rule of investing: Buy low. Then hope that when you're ready to move, you can sell high.

Apply now at: http://glibutti.bankahb.com

After reading numerous posts & publications over the past two years--real estate agents blaming lenders, politicians blaming everyone, lenders blaming the government and real estate agents...blah blah blah! I'm not one for stirring the pot and I'm not trying to here but, I have to say that I've been becoming more and more agitated with complacency - especially lately - and the blame game that we continue to play. It seems that few Americans see what is really going on in America now because everyone is so busy blaming one another for what's wrong in the US- specifically, what's wrong in our business.

I honestly never agreed with the philosophy that everyone is ENTITLED to the American Dream, as was mandated by our President back in the 90's. I'm a bit old fashioned so, even during the 'hay day,' my clients were strongly encouraged to save in order to make a 20% down payment before purchasing their first or second home--after that, most buyers know they need the 20% and generally have plenty of profit after a sale or two--at least back then they did! (And now, I'm sometimes leaning toward putting less cash down in some circumstances but, that's a whole other post)!

Buyers review finances with their lender, then with me. Perhaps it's the 'mom' or the 'nurse' in me but, my motto, which all of my clients will tell you I preach to them is, I want you to live IN your house not FOR your house! I want them to enjoy vacations and luxuries in life that otherwise cannot be enjoyed if they are over-extended with their mortgage. I don't take ANY blame for what happened but, I AM paying the price, just as every other agent in the US is. However, I am surviving and still preaching similar financial strategies to my clients.

My frustration lies in hearing the repeated accusation, "It's not our fault, it's YOURS!" Here's a novel idea--why not put all of that negative energy that you're using to blame one another, into something positive? We can't go back and change any of this; all we can do is focus on something more positive--turning this around and doing everything that we can possibly do to educate the consumer so that this never happens again (in our generation or any that follow)!

Lay off of the blame game and focus on strategies to overcome the challenges that we face in our business. The worst could be yet to come if we don't.