Mary Schurr, Realtor ® Charlotte NC

Was it a Hallmark Moment or a Disney Movie? Isn't it a great feeling to be appreciated!

We work really hard trying to protect our clients' interest and help them make the best and most informed decisions possible. There is more work done behind the scenes than they could ever know. All the while we have other clients needing the very same service and attention. So, when they seem to really understand that you have worked very hard of their behalf and show their thanks....isn't that the best feeling!

I have been fortunate over the years to work with really nice people that realize I do my best to help them buy or sell a home and protect their interest at the same time. I just closed with some buyers that I had worked with for a long time. We considered many homes and considered building. Like many buyers, they were looking for the "Castle" of their dreams. We looked at different areas of the Charlotte NC Real Estate region. We found a few homes they really liked and made offers. I did a market analysis on each to make sure they did not overpay. Each time the seller could not sell for the market value. Some disagreed until they really looked at the comps and then, ended up leasing the home since they could not afford to sell. Disappointing to all of us!

Finally, we found the right home for them, but even it had a few hoops for us to jump through on the way to closing. It was a foreclosure and we couldn't get the bank to agree to our offer the first time around. I knew they wouldn't even look at the comps I submitted with it, but at least my clients knew I tried. Then, almost 2 weeks later I got a call from the listing agent. Were we still interested? It seems the "appraisal" came in. I am not sure what really happened, but they ended up accepting our offer. Overall, it was in good condition and a home they are thrilled over.

My wonderful clients brought me a terrific bottle of wine and thank you note to closing. Sent a letter of recommendation to his firm (I work with their new hires). Followed up on their Quality Service Certification survey with a great review and comments. And, last Saturday they met with me and my husband over dinner at a wonderful new Italian restaurant in their neighborhood to share all the "after closing" stories. They wanted to meet my husband to thank him for all the time away from him. And, when the check came, despite my husband's insistence to pay....they had planned all along to thank us both with dinner. I was amazed!

There are down days when we think no one has a clue of all that we do and then, there are days like this when I think they really do get it. Was it a Hallmark moment or a Disney movie? Was all that real? Hmmm, I just looked at all of their files and yes, they were real! But, fortunately being appreciated was, too!

Buyer Loves the Neighborhood, But the House Needs Work! We have heard that a few times. There are so many homes on the market, but not all of them work for every buyer. Many sellers cannot afford to make changes, updates, or repairs. But, some of these homes for sale could work with a few changes. New carpet, paint, tile, or hardwoods? Maybe, the home needs a lot more such as a total Kitchen or Master Bath renovation? But, the buyer does not have enough money to pay for the changes, closing costs, and down payment out of pocket. This is where the FHA 203K Mortgage comes in!

There are two types of 203 K mortgages-the Standard and the Streamline. Here are a few of the differences.

All of the work has to be completed within 6 months of closing, but the buyer funds the work through their 203K mortgage. Loan limits depend on your area, but can run as high as $729,750 (Charlotte, NC is $303,750). There are energy efficient changes that will allow the loan limits to be higher for their value, too. The appraisal is completed with the value of the home after renovations. Owners must use the home as primary residence for one year. Those are just a few of the requirements and options.

This would certainly help remove some of the more challenging listings off the market. For those buyers that find the home in the right location, but just need another bathroom or to expand a Master Bedroom; this could be the answer. As a real estate agent I am aware of many of the features of the 203K Loan, but this could turn into a very long blog! Your mortgage representative will be the true expert for the details of this loan. It can be a complicated process, but for some buyers AND some sellers it could be very worthwhile.

Looking for a Home in Charlotte NC? Why not consider Mint Hill NC!- Mint Hill NC is a wonderful, small town that is 20 minutes from Charlotte, still in Mecklenburg County, and has that quaint charm you will fall in love with. It can be closer to Uptown (Charlotte's business district) than some South Charlotte suburbs, making it well worth your consideration.

There are many newer neighborhoods in the Mint Hill area that provide larger lots, reasonable prices (even pre-recession), community amenities, and easy access to Interstate 485. Certainly, if you are looking for that older home with character you will find that, as well. There are new townhomes/condos in Mint Hill proper near parks, shopping, and dining, too. You are not limited in options here!

Mint Hill is located just east of Charlotte. The Charlotte Douglas International Airport is only 37 minutes or 22 miles away. The South Charlotte's Ballantyne area is only 20 minutes away. Carolinas Medical Plaza at Mint Hill provides an Urgent Care, Internal Medicine, Pediatrics, and OBGYN care. Presbyterian Hospital is a magnet hospital located in Matthews which is less than 20 minutes away. Uptown Charlotte is only about 27 minutes or 14 miles away. And, Interstate 485 connects with Interstate 77 and Interstate 85 just to give you a sense of the area.

There are farmers markets, festivals, civic/youth groups, parks, Mint Hill Chamber of Commerce, schools, churches, and Mint Hill Historical Society. So much more for you to learn about the area and why if you are looking for a home for sale in Charlotte....You should consider Mint Hill as part of the Charlotte region in your search. Call or email me if you are interested in learning more about the area or looking for Homes for Sale in the Charlotte Region.

Charlotte NC New Uptown Food Market Announced-Charlotte's Uptown (Business District) will be gaining a new Fresh Food Market in the space formerly occupied by Reids Grocery. There will be roughly 30 local vendors selling fresh produce, meats, fish, bakery items, and some prepared foods year round in an indoor environment in Seventh Street Station. Ethnic products and foods, including Asian and Latino would be part of the lineup. There will be a cafe and plans to have programs to educate the public in this surrounding of fresh foods. Nearby Johnson Wales Culinary Arts University is expected to participate in some way.

Two North Carolina health care companies have signed a five year contract sponsoring the Food Market, Carolinas Healthcare and Blue Cross Blue Shield of North Carolina. The companies feel the affiliation ties in with their goals of promoting wellness in the community. The estimate for preparing the space is over $1 million. The market is scheduled to open in July 2011. This will be Charlotte's step in the direction of Seattle's Pike Place Market.

The location is great since it is at the Seventh Street Station stop for the light rail system, but there will be free parking Seventh Street Station, too. Charlotte is fortunate to have many farmers markets that feature some of the local producers, but this is a welcome addition to Uptown. This location in Uptown will be near the light rail and other public transportation that will provide easy assess for all. Exciting news for Charlotte, our local food producers, and Uptown!

Educating Buyers and Sellers about the new North Carolina Offer To Purchase effective 1/1/11 is important for successful contracts that benefit ALL of us. There have been many agent update courses available over the past few months to review the numerous changes to the Offer To Purchase that begin 1/1/11. Agents will want to review the new contract with their buyers and sellers as soon as possible to help them be prepared for the many changes BEFORE they make or receive an offer.

The new Offer To Purchase Contract introduces a "Due Diligence Fee" and a "Due Diligence Period". The buyers may perform their due diligence before the deadline. This due diligence would include inspections, appraisal, loan approval, surveys, reviewing restrictive covenants, zoning, and anything they feel is important. If they wish to terminate the contract prior to the due diligence deadline they may do so for any reason or no reason. The sellers will retain the due diligence fee and the buyers will have the earnest money deposit returned. Once the due diligence deadline passes the buyers are obligated to purchase the home per the contact and the only way out would be breach of contract. This would include loss of earnest money and due diligence fee. However, if the buyers move forward to closing both the earnest money and the due diligence fee are applied to the purchase. Successful negotiation of these dates and fees by buyers and sellers will require them to view the situation and requirements from both sides of the fence.



That is a brief summary of a FEW of the changes to the NC contract, but it would certainly benefit buyers and sellers to have advance notice to prepare and understand these changes. Buyers may wish to review as much as possible about a home, even before writing an offer and be sure their lender is aware of all of these changes. In the long term this new Offer To Purchase will bring improvements, but change is never easy in the beginning! Many states have been using similar Offer To Purchase Contracts successfully for years.

If you have any questions on the new North Carolina Offer To Purchase I am happy to help you! If you already have an agent, please ask them to meet with you to discuss this.