We”ve Moved!

Thanks for visiting this blog site. If you want to keep reading and commenting on what I have to say about the Lake Norman region real estate market, visit my new blog at http://franparkonline.com. A whole new platform, new features on the way, and the same witty reparte you’ve come to love (or hate).

Home Sales Up In The South

A recent article in today’s Charlotte Observer stated that pending home sales in the South were up 13% in December of last year, outperforming the West and the Northeast markets. Pending sales are properties under contract, which generally will close in about 30-45 days.
At the same time, prices continue to fall in every market. It [...]

Home Owners Associations-Are They For You?

From time to time I get clients who request I search for a property that has no home owners association, or HOA, governing the neighborhood. Reasons range from having had a bad experience with one in the past, to not wanting the added expense, or in some cases, a desire to do something with the [...]

Economic Stimulus Package-No Help For Housing Sector

According to a February 3rd article in the Charlotte Business Journal, the Charlotte Home Builders Association is petitioning members of the US Congress, upset over the total disregard for the housing market when developing the so-called “stimulus package” of $800+ billion.
The Homebuilders would like to at least see the $7500 tax credit for first-time buyers [...]

Contingent Sale

I had a question from one of my listing owners the other day about how contingent sales work.  Seems that it might make sense to write a brief post to clear this particular option up for folks. I would imagine there are more of you out there with the same questions.
First, let me say that [...]

Timing The Market

 
Ask anyone in real estate today and they will tell you unequivocally that we are in a “Buyer’s Market.” The indicators that make that so are high inventory, falling prices, and low interest rates. So why aren’t buyers buying?
A lot of potential buyers are operating from a place of fear, afraid that they might pay [...]

For Sale By Owner

Thinking about trying to sell your home yourself, without the aid of a real estate professional? A lot of folks choose this avenue, for differing reasons. In some cases, the difference between the home’s market value and the amount owed is not great enough to be able to pay a listing fee. Others have had [...]

Mortgage Rates Update

Thinking about buying a home? Here are recent mortgage rates on several different loan products, provided by Kim Peschock, our Century 21 Mortgage Advisor*:
Conventional Products:
·        30 year Fixed Rates:    around 4.875%                      
·        15 year Fixed Rates:     around 4.625%
 
VA/FHA Fixed Rates:  around 5.45%
 
 
Jumbo (Loan Amounts of $417,000 and up)
·        30 year Fixed Rates:  around 6.125%

15 [...]

Pricing Your Home Correctly

One of the hardest realities of today’s economy for people to grasp is the effect the recession is having on home prices. In discussion with people in a group, everyone agrees that home prices are falling, albeit much less here in the Lake Norman area than in other parts of the US. But cull one [...]

Buyers- Do Your Research

Here’s a few tips for buyers looking in today’s real estate market that will help you make better decisions and use your time more efficiently. Since there is still a healthy inventory of homes for sale in the Lake Norman area, it’s not hard to find several properties in the same neighborhood that fit your [...]