Charlotte Home Buyer Tips - Choosing the RIGHT Lender for YOU

Which Type of Mortgage Lender Do You Use?

With the recent flurry of activity in the Charlotte real estate market, we're seeing more and more buyer finding themselves in multiple-Offer situations.  So, we thought we'd share with you some Charlotte home buyer tips - choosing the right lender for you in order to prepare your for your mortgage pre-approval.  Obtaining your pre-approval allows you to present a stronger Offer, SOONER.

One of the most  misunderstood aspects of Charlotte home loans is the different types of lending that is available to Charlotte home buyers.  Most buyers mistakenly assume they have to obtain a home loan from their bank's local branch or from a traditional savings and loan. 

There are several different types of lenders; here are the main types of mortgage lenders and how each of them function:

Mortgage Bankers

Mortgage bankers are loan originators.  This means that this type of lender operates with the sole objective to sell the loan they create to another source. Even though they will sell the loan they must also have the ability to finance the loan in the first place and hold it until it is sold.

Mortgage Brokers  

Mortgage bankers do not actually originate the loan for your Charlotte home; they simply prepare the paperwork to submit to multiple lending institutions in order get offers from these lending institutions, from which they will then present to you, to select the best option for you.  Their offers may come from any of the other types of mortgage lenders.   Many people believe that this type of loan is costly because of the additional work the brokers have to do to ‘shop’ for the loan for you.  HOWEVER, they can oftentimes locate aggressive rates for you and the lender will sometimes even pay the brokers' fees, making the cost of the loan even less than that of other types of loans.

Banks and Savings & Loans

These are the most common traditional sources of mortgage loans.  They use the backing of their depositors to fund mortgages.  In turn, they use the money paid by borrowers to repay the depositors’ interest for allowing them to use the money as an investment.

Credit Unions

Credit Unions operate in largely the same way a bank or savings and loan does by using money from a pool of depositors to finance investments in the form of mortgages and other types of loans.  The difference is that most credit unions are operated out of a collective pool of closely associated people generally through a work place or professional organization.

Savvy Offers More Charlotte Home Buyer Tips - Choosing the Right Lender for YOU + More

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If you’d like help determining the best type of mortgage lender for your Charlotte home purchase, give me a call at (704) 491-3310 or email me today at SavvyBroker@me.com.  I'm also happy to send your our list of preferred lenders.


©Debe Maxwell | Savvy + Company Real Estate | SavvyBroker@me.com | Charlotte Home Buyer Tips - Choosing the RIGHT Lender for YOU.  Thanks to @Nevin Williams with First Priority Financial for sharing his expert mortgage knowledge with regards to mortgage brokers. 

Home for Sale in Providence High School Zone

Lovely Home In a Wonderful Community Imagine a private, South Charlotte setting with lush greenery, perfectly manicured landscaping and plenty of blooming shrubs and green grass on over an acre.  How would you like this country-style setting in a location that is close to everything Charlotte? Imagine a rocking chair covered front porch or a large private backyard sanctuary with an oversized terrace and more lush, green space with towering trees and manicured lawn.   Imagine a custom built brick home, meticulously maintained, with columns, archways, vaulted and treyed ceilings, built-ins and heavy moldings housing over 3,000 square feet of luxury.  Enter through the foyer through the stately columns into the spacious den with fireplace (gas logs) flanked by floor-to-ceiling built-ins.  The den opens to the lovely terrace and beautiful, green, flat backyard. Imagine a large formal dining room with more heavy moldings that is open to the hallway by large columns.  You’ll find beautiful lighting throughout this lovely home.   Imagine a bright, sunny breakfast room with vaulted ceiling, surrounded on three sides by large windows.  The kitchen, with plenty of cabinets, corian countertops, tile backsplash and stainless appliances, offers an open feel that is also brightly lit from the walls of windows in the breakfast room. Imagine having FOUR bedrooms on the main level with spacious secondary bedrooms in a split floorplan.  One of the bedrooms is perfect for an office space or formal living area--whatever you can imagine it being for your lifestyle! Imagine a large upstairs bonus room that can also serve as a 5th bedroom and a 6th bedroom that can also serve as an office.  The two large upstairs bedrooms are carpeted and have large windows with large closets as well.  The 3rd full bath is located on the second level and features new tile and fixtures. Imagine a luxurious master suite on the MAIN level with trey ceiling, ceiling fan that also has a private entrance to the back terrace.  The fabulous master bath boasts separate shower and large jetted tub and a master closet that is a challenge to fill!   You don’t have to imagine any longer--this lovely home with upgraded lighting, gleaming wood floors, amazing flexible space and an abundance of storage is now available in the Providence High School zone in East Providence Estates.  The premium location is near Siskey YMCA, Squirrel Lake Park, Colonel Francis J. Beatty Park, local golf, fabulous restaurants and great shopping.  Top ranked Charlotte public school assignments for residents of East Providence Estates include: McKee Road Elementary School  J. M. Robinson Middle School   Providence High School  View the Virtual Tour for 3930 Davis Drive, Charlotte, NC Schedule a Showing Myers Park Homes for Sale Homes for Sale Most Popular Home Search for Charlotte NC Search All Homes For Sale in Charlotte NC Ballantyne Homes for Sale Homes for Sale Dilworth Homes for Sale Homes for Sale Uptown Charlotte Condos for Sale Homes for Sale Free List of Foreclosed Homes For Sale What is your home worth? Debe Maxwell Savvy + Company 704-491-3310 Questions? Schedule a Showing! MLS#: 2090171 Licensed In: NC/SC License #: 228209 L2L Virtual Tours

If You're A Charlotte Home Seller, You Need to Reside in Realityville!

Do You Live in Realityville?

Listing and marketing Charlotte homes for sale are the most enjoyable aspects of my 'job' to me.  I thoroughly enjoy the market analysis, the staging and prep, the constant marketing challenge, 'romancing' the Realtors®, creating ads, showing homes and the best part--seeing the look on sellers' faces when an Offer is received and ultimately Closing occurs so that they can move on to the next chapter in their lives.  Everything about listing a home is exciting to me...well, with the exception of pricing a home.  Pricing is serious business and can make or break everything else that you've put into selling your home.  

Yes, I've been guilty of allowing sellers to overprice.  This market has taught me more about overpricing than I ever wanted to learn!   I say, "No more!"  And yes, pricing IS ultimately the seller's decision--I am in charge of the process, they are in charge of pricing.  I may advise, cajole, beg, plead but, THEY price their property!

What is seller's reality?  If your home is listed in MLS with an agent who is marketing your property thoroughly, is updated and staged well (including being decluttered), and has been on the market over 60 days with few buyers coming through and absolutely NO Offers, then the market has spoken, reality has reared its ugly head.  What did the market say to you?  You're OVERpriced!  Times have changed since your neighbor sold their home for a hefty profit.  Times have changed since your neighbor sold their home in a few short hours.  Times have changed since your neighbor sold his home with very few upgrades, if any.  With the incredibly high supply and low demand, buyers can afford to take their time to find the absolute best deal!

However, times have also changed in YOUR favor--nearly 90% of buyers are shopping for a home online and if your home is marketed well there, then your home IS being seen by prospective buyers.  Your home is shown inside and out, upstairs and down--all over the internet.  Buyers are savvy these days and can easily cost-compare homes online and if yours appears to be overpriced, they move/click on.  Why wouldn't they?  Would YOU overpay for a home when you can get a better price on a similar new home?

Fussing at your agent for lack of showings or not doing his/her job (remember, we are the experts--this IS our business), isn't going to get the job done.  Yelling that the neighbor's agent had one more open house than you have had, isn't going to get the job done. Screaming for a newspaper ad which doesn't sell homes any longer, isn't going to change the reality.  Complaining that the last showing agent hasn't provided feedback within the hour--or even within the week isn't going to get the job done; if their buyer liked the home, you WILL get an Offer!

Herein lies the reality - your price needs to be adjusted.  Period.  Plain and simply, the sooner you make the adjustment, the sooner your burden of carrying the costs of the home and keeping your home in showing condition will come to an end and the sooner the next chapter in your life will begin. 

Sorry sellers, this is simply Realityville...welcome to MY world!

      

310 Arlington AVE #303, FACTORY SOUTH | Charlotte NC 28203 SHORT SALE - $225,000

SOLD in Foxcroft Charlotte NC

SOLD in Foxcroft Charlotte NC

The proud new owners of 2027 Sharon Lane in Foxcroft Charlotte NC are loving their new home and the community which surrounds them and their lovely home!   Foxcroft, one of the most beautiful communities in Charlotte NC, is truly a one-of-a-kind neighborhood.  As it has been for years, Foxcroft is one of Charlotte’s most desirable neighborhoods where homes are surrounded with mature trees and gorgeous landscaping. The Crepe Myrtle trees canopy the driveways and streets through the neighborhood in the summer and the old oaks just seem to envelope you as you drive through the lush, green community. Search Charlotte homes for sale in Foxcroft  and you'll find a neighborhood range from $500,000 to over $2.5 million with homes built in the 30's next door to renovated or re-built homes recently completed.  From classic Georgian to Traditional to French Provencial, Foxcroft's stately homes are certainly some of the most sought-after homes in all of Charlotte. The lots sizes are some of the larger in the area, at least 0.5 acre with many over an acre.   The top ranked elementary and middle schools as well as Myers Park High School, are of which are the assigned schools for the area, are a draw to this community as well.  

Oh and I might add, I have some pretty happy sellers too!  If you're looking to buy a home in the Foxcroft community, we'll be happy to give you the grand tour.  If you're interested in speaking with us about getting your home SOLD in Foxcroft Charlotte NC, contact us today--we've had recent success marketing and selling properties all over Charlotte, including your beautiful community of Foxcroft.

Home Price Double Dip Begins - CNBC

As I was dissecting the most recent statistics today, showing that our August fell even further than July had, I realized that we were in the middle of a second dip in the real estate market.  This may be a national article but, it certainly confirms my data as well.

Home Price Double Dip Begins - CNBC