Unbelievable Deal!! Near Ballantyne in South Charlotte.

Price just reduced to $479,900.

over 5800 Sq ft.  Call today at (704)840-4137 for more information. Bank shortsale approval required.

11826 Churchfield Dr. , Charlotte, NC, 28277

Call Rod Potter today at (704)840-4137 to find out more information on this listing.

Incoming search terms for the article:

• 11826 churchfield lane
• churchfield dr charlotte NC
• 11826 church filed lane 28277
• owner financed homes in 28277
• foreclosure on churchfield lane blog
• churchfield ln charlotte nc
• churchfield lane charlotte foreclosure
• churchfield lane 28277
• churchfield ballantyne
• Charlotte Nc will the foreclosures ever stop blog?

CURRENTLY: SOLD

6821 Parkers Crossing Dr., Charlotte, NC, 28215
Bedrooms- 3
Baths- 2
Sq ft= 1533
Price- $149,900
MLS#- 917748

Call Rod Potter today at (704)840-4137 to find out more information on this listing.

HAVE YOU HAD DAMAGE DONE TO YOUR ROOF BY HAIL???

You may be eligible to receive a new roof for your home at no cost.   If you are trying to sell a house that has a damaged roof maybe be eligible for a new roof, adding 10-20% value to their home, and thus making it more apt to sell.   I also know of a roofing company that will pay up to $500 of the deductible and your insurance pays for the roof and labor.  The best part is that your insurance premiums will probably not go up because of this claim.

The process proceeds as follows….

You contact your insurance agent and the insurance agent sets a time to have an adjuster meet a roofing contractor.  At that time, the adjuster takes pictures of the damage and declares whether the roof needs replacing.  Your insurance company then issues a check for the intial purchase of the materials and upon the completion the insurance company issues a second check for the labor.

We as insurance customers pay premiums every month and rarely make a claim.  This is an opportunity to use a service that we pay for.

The roofing company that I mentioned above is highly mentioned with the BBB and is listed on Angies List. However, you can pick any roofing contractor.

Call me today to discuss this at (704)840-4137.

Incoming search terms for the article:

• INSURANCE COMPANY BUY NEW ROOF

Home Prices Gain in 91 U.S. Cities in First Quarter
May 11, 2010, 12:00 PM EDT

By Kathleen M. Howley

May 11 (Bloomberg) — Home prices rose in 91 U.S. cities in the first quarter as states hard hit by foreclosures began to recover and a tax credit cut the number of properties for sale.

The median price of a single-family home sold in Saginaw, Michigan, doubled to $60,800, the Chicago-based National Association of Realtors said in a report today. Prices in Akron, Ohio, climbed 90 percent to $95,300 and Grand Rapids, Michigan, recorded a 26 percent increase to $90,700. Nationally, the median declined 0.7 percent.

Cities that led the nation in foreclosures a year earlier had the biggest price increases as a tax credit of as much as $8,000 boosted demand and drove the supply of unsold homes to a four-year low in January, according to Lawrence Yun, chief economist for the Realtors’ group. Brian Bethune, chief U.S. financial economist for IHS Global Insight, said an improving job market should sustain the fledgling rebound in real estate.

“In the second half of the year, employment growth and an improving economic situation should keep the housing recovery on track,” Bethune said in a telephone interview from his Lexington, Massachusetts, office.

Today’s report showed the recovery accelerating from the fourth quarter when 67 metropolitan areas reported price gains.

Peak to Trough

The U.S. median home price tumbled 29 percent over three and a half years as defaults among subprime borrowers flooded the housing market with cheaply priced foreclosures and Wall Street piled up $1.78 trillion in losses and asset writedowns.

The median prices of an existing U.S. home peaked at $230,300 in July of 2006 and hit a low of $164,600 in February, according to NAR data. The drop was 13 percent in 2009, outpacing 2008’s 9.5 percent decline.

This year, prices may increase 2.5 percent as the economy improves, according to the Realtors’ forecast.

The median price of a single-family home in the New York metropolitan area rose 1.8 percent to $380,400 in the three months ended March 31. The areas surrounding New Haven and Milford, Connecticut, gained 5.3 percent to $227,900.

The Edison, New Jersey, region had a 1.5 percent gain in the median price; and Hartford, Connecticut, posted a 1.6 percent increase to $225,900. Prices in the Boston metropolitan area increased 11 percent to $321,800.

Transactions Fall

In a separate report, NAR said U.S. sales dropped 14 percent in the first quarter from the prior period, mostly because buyers rushed to purchase homes in the fourth quarter when the tax credit for purchases was originally set to expire.

Congress ultimately extended and expanded the credit for purchase contracts signed by April 30.

South Dakota led the nationwide sales decline with transactions falling 33 percent in the first quarter. Sales in Pennsylvania and Idaho dropped 28 percent. Connecticut transactions decreased almost 15 percent and New York sales were down 9.4 percent, NAR said.

Nationally, home sales probably will rise 4.3 percent to 5.38 million this year and gain 5.1 percent to 5.66 million in 2011, according to a forecast posted on NAR’s website. In 2009, sales climbed for the first time in four years to 5.16 million.

To talk about the market call me today at (704)840-4137.

courtsey of Bloomberg.net

When looking for the perfect neighborhood for you and your family,  there are certain things  that you can look for including……

1. Make a list of all of the amenities that are close by in the neighborhood you are considering as your new residence.  Keep in mind what distances and routes to each of these places are acceptable and what are not.

2. Determine what the best features of the neighborhoods are.  This is especially helpful if you are deciding between a few different neighborhoods.

Are there parks nearby?
Is it scenic and visually appealing?
Are there quiet areas, streets, culs de sac?
Are the people friendly in the neighborhood?
Is the neighborhood clean?  Yards, streets, parks?
Are there nice trees and foliage?
Do the lots have large or small yards?
Are there walkways and are they easily accessible?
Is it a safe neighborhood?
What are the market values of the homes in the area?
Are there many houses for sale?
How long ago was the community developed?
What is the average age of the people in the area?
Are there families with small children in the area?
What is the proximity to schools?
Are there community events or organizations?

3. Walk around in the neighborhood.  The best way to determine the cleanliness and friendliness of the neighborhood is to walk around in it and meet its residents.

^{Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137 / Website:  www.rodpotter.com}

Many of the advantages of home ownership are not immediately obvious. However, when you are weighing the pros and cons of buying over renting, understanding these advantages can definitely allow you to make a more educated decision.

For example, consider the down payment that most lenders require.  Unless you qualify for a special mortgage program or have an absolutely perfect credit history, most lenders will require that you make a down payment equal to 20% of the purchase price.  That down payment can be quite significant! If you are purchasing a home for $300,000, a 20% down payment amount will be $60,000.  The primary purpose of these funds is to provide a measure of security for the lender, but there is a secondary purpose that benefits the home buyer.

What is the benefit to the home buyer? The funds that you provide as a down payment actually serve as a high-performing investment vehicle that will help you to plan and save for your future. How?

How Is This Possible?
There is a simple calculation, but the answer is actually fairly complex. Homes generally appreciate in value at a rate of five percent per year.  Therefore, let´s assume that your home´s value will increase to $315,000 in just one year. This means that you´ll have earned $15,000 and the value of your initial investment has grown by 25% in only one year! What other investment mechanism do you know of that can provide that amount of security and be as enjoyable as owning your own home?

And there are additional benefits when you buy a home. Your savings actually continue when you purchase a home, because many tax deductions and benefits are available only to home owners.  You can deduct the interest that you pay on your mortgages at the end of every tax year ? and your property taxes are deductible too.  These deductions are used to lower your taxable income. With a $300,000 home, you can expect to reduce your taxable income during the first year alone by around $30,000.  This tax benefit is one of the best reasons to consider buying versus renting.  When you rent, you are not eligible for this reduction in taxable income.

These deductions create a fantastic advantage for buying over renting.  And, as if that weren´t enough, consider that you will have a stable and unchanging housing payment for the duration of your mortgage.  In contrast, rental prices increase frequently, usually every year.  With a mortgage payment that you can comfortably afford now, you will never again have to face the dreaded rent increase.

As you can see, there are many financial reasons to buy a home. But what about the logistics of your housing?  When you purchase a home, at least in most cases, you will have a lot more available space than you would in a rental.  Sure, there are private homes available for rent but most people opt to rent apartments. A purchase home definitely has more space than do most apartment rentals.

And speaking of space3; if you own your own home, then the space is yours to configure as you like.  If you decide that you would like a larger kitchen, for example, you are free to make your own renovation plans.  You can express your individual style and taste through the way that you choose to decorate and there are virtually no limits to the changes you can choose to make on your property.  Not so with a rental property.  Even houses that are rented usually need some type of reconfiguration to meet your particular needs, but when you are renting, you need to find ways to work around this, since you do not have the freedom to modify the property in the ways that you could if you owned the home.

When you rent, you are not able to install a swimming pool, hot tub or in some cases even a play set for your children.  Therefore, when living space and the freedom to personalize are important to you, buying your own home is a very good option.

Additional Advantages

Home Equity
Equity, when considered strategically, is practically an immediate return on your investment when it comes to buying a home.  As a home owner, your home´s equity begins to grow immediately, from the very first day that you are the owner.  In the future, as the value of your home increases and the amount of your mortgage decreases, you will be able to borrow against the accumulated equity for expenses like home improvements, weddings or your children´s education.  Or, you can use the equity to secure a future mortgage on a second home. The more equity in your home, the better the chance that you will earn a profit when you sell your home and decide to purchase a more expensive home.

Principal
Every single mortgage payment that you make will actually increase the amount of equity in your home while reducing the principal of your mortgage.

Credit Score
Home owners generally have higher credit scores than do non-owners.  Remember that a mortgage loan in good standing on your credit report shows responsible borrowing. In contrast, renting does not appear on your credit report at all.

Community
When you purchase a home, you are joining a neighborhood.  Most owners quickly realize the value of becoming part of a community and forming relationships with those who live around them.  In some cases, renting can provide this same benefit, but renters are often transient and the relationships formed while renting may or may not last.

Security: Home ownership provides the security of knowing that no one else has access to your home unless you specifically grant them access. It also gives you the security of knowing that you have a wonderful place to call home, and that no one can take it away from you.

Privacy
Owning a home will give you far more privacy than renting.  In addition, you will have more access to the private outdoor areas around your home.

In Conclusion
All of these advantages can and will be yours when you decide that it is time for you to purchase a home of your own.

But there is one more advantage that hasn´t been mentioned yet.  When you own your own home, you are realizing a large part of the American Dream.  Many people dream of owning their own home and are simply not at a stage in their lives where ownership is an option.  Fortunately, you can make the dream a reality by purchasing a home of your own.

Take some time to carefully consider the advantages of home ownership that are listed above, and also consider any possible detractors that you might encounter along the way.  Making an educated and well thought-out decision will make you a better buyer and a better home owner in the long run.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

As a buyer, you have probably heard over and over again how important a home inspection is in the home-buying process.  Home inspectors need to be certified and come with many good recommendations.  The security and health of your family depend on their attention to detail and ability to see things that are not visible to most other people.

When you are preparing to purchase a new home, the information provided in a home-inspection report is critical for protecting your family.  Here are the top ten findings of home inspectors, and what can be done to resolve the issues:

Inadequate Drainage
In most cases, you will realize that a home has inadequate drainage long before you purchase it.  You will probably smell dampness or see visible water damage along the walls of basement or crawlspace.  If a home inspector indicates that a home´s drainage is inadequate, you will probably need to repair or replace downspouts and gutters.  You may also need to install French drains or, in extreme circumstances, you might have to level the entire lot to facilitate proper drainage.

Out-of-Code Electrical System
This is a very common finding in home-inspection reports. The problem with bad wiring is that it presents a risk of fire and other problems, including ruined appliances and electronics. In general, an electrical system will need to be brought up to code before an occupancy permit can be issued for a home.

Leaking and Damaged Roof
A home inspector will check a home´s roof carefully to inspect the materials for aging and possible damage. In general, roofing materials can be replaced in small sections. Unless there is significant damage, a complete new roof will not be required.

Dysfunctional Heating System
A dysfunctional heating system can be a significant danger for the home´s inhabitants.  Most of the time, this sort of finding warrants replacing the heating system.  The good news for home owners is that furnace installations are relatively inexpensive. In addition, modern furnaces are much more efficient than those made in the past. A new heating system will most likely pay for itself in a few years, thanks to its lower utility costs.

Overall Poor Condition
An indication of overall poor condition means that the previous owners did not keep up on home maintenance.  Some of the indicators of poor condition might include haphazard repairs to the electrical system or plumbing, cracked walls, peeling paint, broken light fixtures, or non-working switches and outlets.  There might also be water damage or problems with the home´s foundation.

Structural Damage (Minor)
Most minor structural problems are easy to repair and do not pose a danger to the home´s inhabitants. The leading cause of minor structural damage is water damage.  Water that comes into the home through windows, doors, or cracks in the foundation will cause minor structural problems.

Plumbing Problems
A home´s plumbing should be up to code and composed of new materials wherever possible.  If a home inspector finds rusting pipes, lead-based materials, or broken fixtures, he or she will probably put these items on the home-inspection report.

Drafts
A home inspector will check to see whether the windows and doors of a home let air pass through.  If this is a problem, it can usually be fixed by re-glazing windows and applying silicone caulking around the openings.

Ventilation Problems
If a home seems to have a problem regulating moisture, chances are that the home inspector will indicate that there are ventilation problems.  This situation can be alleviated by installing fans and/or by adding windows that can be opened to bring fresh air into the home.  Attics require adequate ventilation for heat efficiency.

Environmental Hazards
Few home inspectors specialize in environmental hazards. Therefore, it is a good idea to have environmental inspectors assess the home for hidden dangers either before or after the home inspector has finished his or her portion of the inspection. Here is a list of some of the types of environmental hazards that may be present in homes:

• Lead-Based Paint: The presence of lead-based paint is extremely dangerous, yet a typical home inspector may not be able to locate the problem.  A special test must be performed to determine whether lead-based paint is present in a home.  Removing the danger involves a process through which the walls are either sealed or removed and replaced.  Lead poisoning is dangerous and can be fatal to young children.
• Radon Gas: A typical home inspector will probably not be able to detect the presence of this odorless and colorless gas that is known to cause cancer. If radon is discovered in a home, a mitigation pump will need to be installed to remove the gas.  This installation is expensive.
• Drinking Water Issues: A water test can determine the purity of your home´s water supply.  Correcting problems with the drinking water range from simple pipe replacement to the replacement of the entire home plumbing system, depending on the source of the problem.
• Leaking or Damaged Heating Oil Tanks:  A home inspector or heating system inspector should be able to spot a faulty oil storage tank.  Replacement is generally the only acceptable solution, but it is very expensive.

Conclusion
Now that you are familiar with the top ten problems that home inspectors find, you are better prepared to react to the presence of such problems.  You might be comfortable replacing a few missing roof shingles, but if the home has several of the problems described above, talk with the owners to find out how much they are willing to contribute to fix those problems.  They could offer to pay for repairs and updates directly, or they could agree to lower the home´s purchase price.

Ask your realtor for a recommendation for a local home inspector who is properly certified.  A home inspection is important for the health and safety of you and your family, and therefore the inspector should be chosen based upon the knowledgeable recommendations that you receive from others.

Knowing what to expect from a home inspection will make you a better homebuyer and a better homeowner.  Never skip the home inspection, because that would be like buying a vehicle sight-unseen.  You need to keep your family´s best interests in mind.  A home-inspection report that reveals significant problems is usually an acceptable reason for a buyer to back out of a sale.  Therefore, keep that in mind if you are unable or unwilling to do what is necessary to repair the flaws, backing out of the deal is one of your rights as a potential buyer.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Bargain hunters and first-time home buyers alike almost always have questions about the value of buying foreclosed homes. Realtors have access to listings of foreclosed homes being sold at prices that are extremely competitive in today´s housing market.

When realtors show potential buyers foreclosed properties, they should make every effort to convey the difficulties that a new home owner may experience once the sale is complete.  If you are considering the purchase of a foreclosure property that may be too large of a commitment for your lifestyle, a good realtor will be honest and share his or her concerns with you.  This is because good realtors want their clients to be happy with their purchase, and therefore try to ensure that each client is making the best decision for his or her particular circumstances.

Logistically, the process of searching for a foreclosed home is very similar to that for any other home.  Specific listing services provide information to potential buyers, and realtors receive additional information that they can shared with potential buyers.

Potential buyers usually want more information about foreclosed homes than what is available. Understand that when you seek information about a home being sold through a foreclosure sale service, your realtor will probably need additional time to find the answers you need.

A foreclosure is almost always a home that was purchased by a buyer with a federally insured mortgage.  The buyer then defaulted on the loan and the home went into foreclosure.  Because the borrower´s mortgage was federally insured, the insuring agency was required to satisfy the remaining balance of the loan, in essence buying the home from the lender.

Obviously, the government does not want or need this surplus property.  Therefore, the government usually sells the property to a company which specializes in the sale of foreclosed properties.  These agencies are located across the country and list thousands of homes for sale.

Some of the higher-quality homes in affluent areas are sold immediately, perhaps even before they are officially listed for sale.  This leaves average home buyers with opportunities to save a significant amount of money if and when they find a home that works well for their current situation.

Many foreclosed homes have been vacant for a long time before the listing agency places them on the market for sale.  The risk of problems arising from that vacancy may leave buyers disillusioned when they finally have a chance to visit the homes they are considering.

Also, in some foreclosure situation, the previous borrower may not have maintained the home adequately and there may be missing or damaged items throughout the home.  Sometimes foreclosure homes are referred to as buyer beware, because these homes are almost always sold as-is.

Here are the three most questions that realtors are asked about foreclosed properties:

How Can I Find a List of Foreclosures?
Stay away from companies that promise to provide you with a list of homes that you can purchase for pennies on the dollar.  These companies have been known to provide sellers with lists of homes that have already sold, or lists of homes that are already available for free through realtors.

The Internet is a good place to begin your search.  Most of the reputable agencies place their listings of foreclosed properties online.

If you want to know whether additional foreclosed homes are for sale in your area, contact your realtor.  His or her office probably maintains a list of foreclosed properties, and your realtor would be more than happy to meet with you to discuss the possibilities.

So, Do I get pre-approved for a regular mortgage?  Or Am I Required to Pay Cash?
A common misunderstanding among potential buyers is that unless they are prepared to pay cash on the spot, they cannot purchase a foreclosed home.  This is simply not true.  Some lenders offer special loan programs aimed at borrowers who intend to buy a foreclosed home.

Lender appraisals and inspections may sometimes make it difficult to obtain a mortgage for a foreclosed home that has been damaged or is in need of significant repair.  Consequently, the same federal agencies that put the homes up for sale may be willing to extend financing to potential buyers.  These agencies will sometimes give the buyer grant money or a low-cost second mortgage loan to be used for the repair of the home.

In sum, you do not need to pay cash. However, you may need to borrow a specific type of mortgage loan, depending on the home´s condition and price.

Will I Save a Lot by Buying a Foreclosed Home?
Another common misconception is that foreclosed homes are priced at pennies on the dollar.  Well, if you consider this phrase to mean 99 pennies on the dollar, then you may be correct.  Generally, foreclosed homes are listed for sale at their approximate market value, according to the home´s location and condition.

Some foreclosed homes sell for very low prices, but in most of those cases the homes were razed in order to make room for new construction.  More commonly, high-priced homes in affluent areas sell for a few percentage points less than their current market value.  If this is the type of deal that you are looking for, then definitely consider purchasing a foreclosed home.

A good realtor will warn you up-front that the costs associated with buying a foreclosed home can be significant.  The buyer may be required to perform very costly repairs before occupying the property. Also, these buyers may be unable to take advantage of low interest-rate specials offered by lenders.

If you are considering the purchase of a foreclosure, be realistic in your expectations and prepare to expect the unexpected.  Many buyers are thrilled with their home after purchase, but others are forced to complete months of costly repair work before they can move in. As long as you investigate the possible options, including the available mortgage and assistance programs, you will be an educated consumer prepared to make an educated purchase.  Buying a home is often the largest investment that you will ever make, so you need to feel secure in the knowledge that you have invested wisely.

If you are interested in purchasing a foreclosure property, many realtors will offer you the benefit of their experience and expertise.  Realtors normally do not work with these types of sales every day, but they do have access to information and property listings that can help you decide whether buying a foreclosed property is the right option for you.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

When searching for a new home, there are certain things that are important to do including….

1) Before you start

Before you start shopping, you should Pre-qualify for a Loan. Being pre-approved for a loan determines how much house you can afford. It also allows you to move more swiftly when you find the right house, especially when you aren’t the only interested buyer. Call me, I have some GREAT contacts for this.

2) Shop for Mortgage Rates and terms

A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that’s $12,600.

3) Using a buyer agent

As your licensed NC buyer broker, I am legally responsible for representing your best interest in the real estate transaction. In doing this, I will be doing my best to make sure that you are treated fairly and get the best price on a new home as possible.

As the buyer agent, I am usually compensated by the seller at the closing table. Therefore, no money will be coming out of your pocket for my services.

4) Distance to your place of employment or family

If there is a destination that you need to go to frequently like a job or a family member, I recommend that you try to find a home that isn’t to far from that location. Needless to say, it can be quite burdensome to drive back and forth.

5) Crucial items of importance

Make a list of items that your new home “MUST HAVE”. For instance, you must have a large backyard, a basement, or a pool. In any event, those items are important to know BEFORE buying a house. There is nothing worse than buying a home and not having something that is extremely important to you  being missed.

6) Features that help or hurt resale value

In some areas, a swimming pool actually detracts from a home’s value and makes the home harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value. As your Realtor, I will point out features that hurt, as well as those that help, resale value.

^{Feel free to contact myself for more information at (704) 840-4137 or Rod Potter at rpotter@carolina.rr.com.}

When you are ready to sell your home, there are certain things that you really must do before listing it to sell. Those items include……

1. Determine How Much Your House Is Worth

2. Estimate Your Costs to Sell

• Real estate commissions
• Attorney or other professional fees.
• Prorated costs for your share of annual expenses, such as property taxes, home owner association fees, etc.
• Any other fees typically paid by the seller (surveys, inspections, etc.).

3. Estimate Costs to Buy a New Home

Calculate moving expenses, loan costs, down payment, home inspections, title work and title policy, paying for a new hazard insurance policy–all expenses related to buying a home. Your lender should give you a disclosure of estimated costs when you apply for loan pre-approval.

4. Calculate Your Estimated Proceeds

• Deduct your mortgage payoff from your home’s fair market value.
• Deduct your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing.

Will your closing proceeds cover your costs to buy a new home? If not, do you have cash or other funding to make up the difference?

5. Make Necessary Repairs

Make all needed repairs unless you want the house to be regarded as a fixer-upper. This does not refer to cosmetic updates–just items in need of repair. Anything that’s obviously broken gives potential buyers a reason to offer you a lower price.

6. Get the House Ready to Show

Most houses need at least a little spiffing up before they are shown to potential buyers. Great Curb appeal, fresh paint indoors (and sometimes out), organized closets and cabinets, sparkling clean windows and appliances and a clutter-free look are essential if you want the house to appeal to buyers.

7. Get Excited to Let People In

When listing with a real estate agent, he or she will ask you to leave when the house is shown. Why? Because lurking sellers make buyers nervous–they don’t feel comfortable inspecting the house when they feel they are intruding in your personal space.

Also, be sure to make the house accessible. That means it should always be ready to show. Many agents won’t bother showing a house that takes 24 hours to get into.

*** Important sidenote – For security reasons, DO NOT let someone into your home if they just show up at your door. Call your agent and let them take care of the showing. This is not a good reason to jeopardize you and your family’s safety.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137