Rich Ferretti ABR QSC Realtor/Broker Charlotte NC Mint Hill NC Relocation

[http://www.minthillrealty.com]
The other day, I drove past two houses on the same street in Mint Hill that had "For Sale by Owner" signs out front.

I bet those signs will be there a very long time, especially in this market.

People who attempt to sell their own homes are usually doing so to save a Realtor's fee. In a seller's market, you may be successful in attempting to sell your own home. In a buyer's market, it's usually a recipe for failure--in in the high-demand area of Mint Hill. Without a Real Estate Agent, you won't have the ability to list your house in the Multiple Listing Service (MLS), meaning you don't have a broad reach and therefore have a much smaller pool of potential buyers to balance out the many homes on the market. Additionally, a Real Estate Agent does a lot that helps to sell a house, as quickly as possible, and at the best price.

Before you put that "For Sale by Owner" sign in your yard, consider whether you're up to these tasks:

· Doing the research to make sure your home is priced properly
· Write, schedule and run ads in local papers and real estate publications
· Produce attractive handouts for potential buyers
· Pre-screen callers to see if they're qualified buyers
· Run open houses
· Be available days, evenings and weekends to show your house
· Listen to critical comments about your home without being offended
· Negotiate offers and counter offers
· Know when to lower the price
· Qualify buyers
· Prepare proper disclosure paperwork
· Stay on top of the buyer's mortgage application and approval
· Be available to coordinate inspections and appraisals
· Gather all necessary buyer's and the seller's legal documents

There is an art and science to selling real estate, especially during an economic downturn Shouldn't you put your home in the hands of an experienced and licensed Realtor?

Rich Ferretti
Jamison Realty
Mint Hill and Matthews

Want more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out www.minthillrealty.com

[http://www.minthillrealty.com]
As part of the American Recovery and Reinvestment Act of 2009, a.k.a. the Stimulus Bill or ARRA, first time home owners are now eligible for a tax credit of $8,000. This credit, alongside some fabulous opportunities in the market, makes it an incredibly keen time to buy. Homes in Mint Hill and Matthews are still showing excellent resale value, so buying now when the market is accommodating is a key. The staff of Jamison Realty has spent time looking over the ARRA, and has all the answers for the consumer.

The following list summarizes the eligibility requirements of this credit:

When - Home owners who purchase their house between January 1, 2009 and December 1, 2009 are eligible for the credit.

Who - The law states that the credit is available to first time home buyers. However, the law is a bit more flexible and allows anyone who has not owned a home for three years to qualify. For example, if you sold your home on May 24, 2006, you will have to close on your new home subsequent to May 24, 2009 to qualify. The closing date in this situation would make a significant difference on your wallet. It certainly makes purchasing a home in beautiful Mint Hill, NC a stunning investment!

How - You will receive the tax credit when you file your individual tax return. As part of this filing, you will need to complete Form 5405 which determines the amount of credit you will receive. The credit can be claimed on either your 2008 or 2009 tax return. If you already filed your 2008 tax return, you can amend the return to obtain the credit. And...you can buy up to the end of 2008 and still ask for the amendment. For example, say after months of looking you and your realtor finally find a home in Matthews, NC. By the time you have gone to closing with your new piece of Matthews' real estate, it is nearly Christmas. That is no problem, the ARRA bill provides for that and you can amend your 2009 return and receive the cash back. Or, you simply file it on 2009!

What - Everyone should understand that this is a credit to the tax payer, not a deduction. A tax credit is a dollar for dollar benefit to the tax payer. So a first time home buyer should be $8,000 wealthier as a result of this credit. A deduction merely decreases your taxable income. Furthermore, this tax credit does not have to be repaid to the government like the "credit" available to first time home buyers in 2008. If you have questions, the staff at Jamison Realty can provide the answers.

And - The credit shall be equal to 10% of the purchase price of the home, not to exceed $8,000. Since the median home and condominium price in Charlotte, North Carolina is significantly more than $80,000, most will receive the full $8,000 credit.

Also - Single taxpayers with incomes up to $75,000 and couples with income of up to $150,000 qualify for the full credit.


It's a great time to buy!
Rich Ferretti


Want more information about the Charlotte area real estate market? Check out www.minthillrealty,com

[http://www.minthillrealty.com]
President Obama's Housing and Economic Recovery Act (HERA) has allowed Wells Fargo to be able to offer the HARP (Home Affordable Refinance Program). This program allows borrowers whose loans meet the following criteria to refinance thier loans regardless of their current credit score and value of their homes (to a maximum loan value of 105% of their home value).

The impact is huge as homeowners in Mint Hill and around the country who have seen the values of their homes fall, along with their credit scores, are still able to benefit from the historically low interest rates we are experiencing.

The criteria are as follows :

--> Conforming loan amount where the first mortgage was originated without private mortgage insurance

--> Fannie Mae or Freddie Mac was is the investor (i.e. not FHA or VA loans)

--> No late mortgage payments in the last 12 months

For more information, contact Rich Ferretti

Would you like more information about the Charlotte area, or Mint Hill real estate market? Check out www.richferretti.com

It is undeniable that the economy is in a downturn. The word "recession" is becoming more and more applicable to the situation, but is Charlotte's economy really as bad? Is it bad at all?

It is if you listen to the media reports it is. But I believe Charlotte's economy is not in a dire situation... and further, the more the media drowns us with negative reports, the worse things seem, and will in turn become.

Here are the facts: houses are being foreclosed, banks are laying off workers, and the stock market tumbles daily. We are certainly facing some tough times. However, in reality the real cause of the negative feelings is daily negative media accounts scaring people from spending the money they normally would on the things they want and need. While some of us have lost our jobs, or faced decreased incomes, many have not. Yet we are all holding on tight to our wallets, running scared, and making things worse.

Money magazine recently compared 2008 with 1932. In 1932, the GDP was -13 percent versus 1.6 percent in 2008; unemployment was 23.6 percent compared with 6.1 percent; inflation was -9.9 percent compared with today's 4.2 percent.

The nation is a long way from the recession of the 1930s-and the reason it took so long for the experts to consider this downturn a "recession" is because we are still experiencing positive growth. And in Charlotte, we are considerably better off than much of the rest of the country. Charlotte still boasts a strong and growing community, new and thriving business and a high quality of life.

The housing market has seen a price decline of nearly 17 percent over the past year country-wide, but in Charlotte our decline totals only 3 percent. Admittedly not a "boom," but not something we haven't seen before, and not something from which we can't recover.

Here are some other positives about Charlotte:

--> The cost of living in Charlotte is 7 percent less than the national average.
--> Approximately 40,000 people moved to Mecklenburg County this past year.
--> More people are employed in Charlotte today than were employed a year ago, with an increase of 12,000 new jobs in Charlotte in 2008.
--> Each week an average of 10 new companies seek information about the city from the Chamber of Commerce, and the Chamber staff hosts four visits by companies looking for more info about our area.
--> Charlotte continues have a strong banking community, and surrounding industries. In the beginning of 2008, Charlotte was the nation's #2 banking center, and it still is.

I believe we should be focusing on these positives-and celebrating the community in which we live. I believe that Charlotte is strong and will make it through the nation's recession faster, and stronger-and in the meantime will be the growing and prosperous city that it is.

(c) 2009 Rich Ferretti