Charlotte, North Carolina Real Estate Blog and Housing ArticlesRecently posted or modified blog postshttps://www.housesincharlotte.com/blog/Copyright HousesInCharlotte.com2023-12-14T11:42:37-07:00tag:housesincharlotte.com,2012-09-20:18280Who Pays the Property Tax When You Buy or Sell a House?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Top_5_Amenities_Most_Renters_Want_5.jpg" width="1640" height="924" alt="Who pays the property tax when ou buy or sell a house" title="Who pays the property tax when ou buy or sell a house" />
All potential <a href="https://www.housesincharlotte.com/blog/seven-steps-to-buying-a-home-in-charlotte-nc/">home buyers in Charlotte, NC</a> should be well-informed about property tax responsibilities when entering the <a href="https://www.housesincharlotte.com/blog/category/market-reports/">real estate market</a>. Property taxes are a crucial aspect of homeownership, and it's important to understand how they are managed during the buying and selling process in this area.
Property taxes in Charlotte are typically paid once a year, due on the first day of September. Many homeowners choose to have their property taxes and homeowners insurance included in their monthly mortgage payments, creating an escrow account that takes care of these biannual payments. If there is any surplus in the escrow account, homeowners usually receive a refund.
When it comes to buying or <a href="https://www.housesincharlotte.com/blog/how-the-charlotte-home-selling-process-works/">selling a home</a> in the middle of a tax period, it's essential to determine who is responsible for the property taxes. The closing on a home sale often falls within this period, and funds may have already been allocated for taxes or may need to be set aside.
During the real estate closing, an escrow or settlement agent will divide the property tax into two portions: the time the seller owned the property and the time the buyer will own it. The seller is responsible for property taxes up to the date of the sale, while the buyer takes on taxes from the sale date onward.
Buyers have the option to reimburse the seller for taxes already paid up to the sale date. The escrow agent handles the calculations and provides specific amounts in the good faith estimate or final settlement documents. Having an escrow agent manage this process simplifies matters for both buyers and sellers and is factored into their respective closing costs.
What happens when a property has a tax lien in Charlotte, NC?
A tax lien is a government claim against a property due to delinquent or neglected tax payments. To sell or refinance a property with a tax lien, the homeowner must settle the outstanding amount. This can be accomplished by using the property's equity or from the sale proceeds received at closing, provided it is outlined in the documentation. Typically, the tax lien is prioritized over the <a href="https://www.housesincharlotte.com/blog/an-a-to-z-guide-for-getting-a-mortgage-in-charlotte/">current mortgage</a> when settling expenses during the closing process. Importantly, the lien amount is not added to the sale price but is included in the closing costs.
In some cases, homeowners may need to explore alternative options if the tax lien is substantial. It is advisable to seek guidance from a <a href="https://sbrandlaw.legal/" target="_blank">qualified real estate attorney</a> for any questions related to property tax liens and other potential issues that may arise during the buying or selling process.
What happens if a deal closes without the property taxes paid?
If a real estate deal closes without the property taxes paid, it can lead to various potential consequences, which may vary depending on the local laws, regulations, and contractual agreements. Here are some common scenarios that can occur:
Seller's Responsibility: In many real estate transactions, the seller is responsible for paying property taxes up to the closing date. If the seller fails to do so, they may be in breach of the sales contract. In such cases, the buyer may have legal recourse to seek compensation or penalties from the seller.
Adjustments at Closing: Typically, property taxes are prorated at closing. This means that the seller pays for the portion of property taxes they owe up to the closing date, and the buyer pays for the portion that covers their ownership period going forward. If the seller hasn't paid their share, it can create a financial discrepancy that needs to be addressed at closing.
Escrow Account Shortage: If the property taxes have not been paid by the seller, and the buyer's mortgage lender manages an <a href="https://www.housesincharlotte.com/blog/how-often-are-property-tax-rates-assessed-in-charlotte/">escrow account for property taxes</a> and insurance, the lender may discover a shortage in the escrow account when they try to pay the taxes on behalf of the buyer. In such cases, the lender may demand additional funds from the borrower to cover the unpaid taxes, which can result in higher monthly mortgage payments.
Liens and Legal Issues: Unpaid property taxes can lead to a tax lien on the property. Tax authorities may place a lien on the property, which can affect the property's title. In some cases, a tax sale or foreclosure may be initiated by the taxing authority to recover the unpaid taxes, and this can potentially lead to the loss of the property.
Buyer's Responsibility: If the responsibility for unpaid property taxes falls on the buyer due to contractual terms or errors in the closing process, the buyer may be required to pay the outstanding taxes to avoid legal issues or penalties. This can be an unexpected financial burden for the buyer.
Seller's Legal Obligations: Sellers are typically obligated to clear any outstanding property taxes before the sale is finalized. Failing to do so can result in legal consequences, including fines or legal action by the buyer to recover the unpaid taxes.
In conclusion, understanding property tax responsibilities is crucial for home buyers in <a href="https://www.housesincharlotte.com/Charlotte/">Charlotte, NC</a>. Property taxes are paid biannually and can be managed through escrow accounts, making the process more manageable for homeowners. During a home sale, property taxes are divided between the seller and the buyer based on their respective ownership periods. Addressing tax liens, if present, is also essential, and consulting with a real estate attorney is recommended for guidance on property tax lien-related matters. Being well-informed about property tax obligations is essential for a <a href="https://www.housesincharlotte.com/">seamless real estate transaction in Charlotte</a>.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-12-11T18:47:36-07:002023-12-14T11:42:37-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:163184 Tips for Having a Great Relationship With Your Buyer's Agent<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/How_to_have_a_great_relationship_with_your_buyers_agent.jpg" width="800" height="450" alt="How to have a great relationship with your Buyers Agent" title="How to have a great relationship with your Buyers Agent" />
4 helpful tips for having a great relationship with your buyer’s agent
It's one thing to find a buyer's agent to show you homes, help you fill out paperwork, and walk you through the steps of the home-buying process but when you find one that you truly have a great experience with, it takes your home-buying journey to a different level. Here are 4 good tips for having a great relationship with your Buyer's Agent.
How You Communicate Matters
Let your buyer's agent know early on what type of communication style is best or easiest for you such as text messaging, phone calls, or emails. Also, ask your agent the same thing so that expectations are set and you’re on the same page.
Show faith
Your agent obviously knows the home buying process from beginning to end and how to get you to the closing table but if you’re more of the type A personality, let them know that you’d prefer to have more of a timeline of what to expect upfront rather than having to sit back and constantly wait for next steps. This can give you better clarity while also preventing your agent from feeling as though you’re beating them to the punch with every step. In other words, allow your agent to steer the ship, so to speak, without neglecting your own need to know what’s ahead.
Be curious
Ask questions, be informed, and take the opportunity to learn about the process and steps you’re taking. If they’re a good agent, they’ll be glad that you’re asking questions and are interested, and they’ll be eager to educate you. Personally, I love it when our clients ask lots of questions because it shows that they’re turning to me and trusting me for the answers. Also, educated clients are more prepared and better equipped to handle unexpected things that may happen during the home-buying process.
Enjoy your time together
Never forget that you and your agent are in an important and special relationship now with the same goals (hopefully) of doing what’s best for you and getting you to the closing table. Keep the relationship as professional, friendly, and light-hearted as you can, and never forget that you’re on the same side.
Conclusion:
If you’re fortunate enough to find an excellent Realtor to represent you in your home purchase (they’re not all wired the same, trust me), you’ll realize how invaluable they can be. Far beyond just opening doors for you, your Realtor can be the big difference maker between whether or not you have a great experience or a negative experience and can also heavily influence what happens to or for you from a financial standpoint. So, find yourself a great Realtor and then strive to have a great relationship with them that may last for many years to come.
If you’re not already working with an agent and would like to have a discussion with one of us about your needs, please fill out the form below and we’ll get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-08-04T05:28:00-07:002023-12-11T19:06:09-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16317What is a Buyer Agency Agreement?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/What_is_a_buyer_agency_agreement.jpg" width="800" height="450" alt="What is a buyer agency agreement?" title="What is a buyer agency agreement?" />
What is a buyer agency agreement?
A buyer agency agreement is a contract between you and a real estate firm in which you are agreeing to be their client and they are agreeing to represent you and your best interests. This contract will spell out certain things such as the duration of the agreement, their responsibilities to you, your responsibilities to them, what commission or fee they expect to receive in return, and other details and legal jargon.
Signing a contract of any type can sometimes feel intimidating for some because of the legalities involved, the commitment factor, and wondering if the other party will or won’t perform as expected. However, signing a contract with a great real estate company and their designated agent can actually open you up for a wonderful experience and give the green light for them to perform FOR you in a way that they could not have purely if you were just a customer. Once you become a client of their firm, they then owe you all types of responsibilities, fairness, attention, privacy, etc.
In North Carolina, Buyer Agency Agreements can actually be verbal up until the time that an Offer to Purchase actually needs to be written up. At that point, the Buyer Agency Agreement would need to be in writing. So if you’re hesitant about committing to a realtor, you should at least consider some type of verbal commitment for a specified period of time if the Realtor agrees to that. Either way, it’s good to have one in place so that you can better ensure a fruitful experience.
With that being said, I would not encourage you to sign a buyer agency agreement without first taking the time to learn more about that Realtor (via a great conversation with them at the least) and their experiences, setting expectations, and reading their past customer reviews. Once you feel confident that they will take care of you and you can get along with them, I would suggest that you go ahead and get a Buyer Agency Agreement in place sooner than later and start moving towards a solid home-buying experience.
If you’d like to speak with us, find out more about how we work with buyers, or simply ask us some questions about the area or the homebuying process in general, we are here for you. Please fill out the form below and will get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-07-27T05:18:00-07:002023-07-27T17:29:12-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:1631610 Signs You've Found The Right Buyer's Agent<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Ten_signs_you_have_found_the_right_buyers_agent.jpg" width="800" height="450" alt="10 signs you've found the best buyer's agent" title="10 signs you've found the best buyer's agent" />
10 signs you may have found the right buyer’s agent
If you’ve been considering buying a home and have already spoken with one or more real estate agents but have not yet committed to one yet, how do you know if you’ve found the right one? Here are 10 signs or indications that you may have already found the right real estate agent to serve you.
They spend more time listening to you than talking about themselves (this process is about you, not them).
They ask you open-ended questions about your needs, desires, and motivations (indicating that they want to dig deeper to discover more about you).
They come off as genuinely interested and eager to help you rather than sales-like.
They have good <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">customer reviews</a> from past clients (look for reviews that appear genuine rather than quick 1-2 liners).
They have been in the business for a while (sometimes newer agents can work harder than more experienced ones, though).
They don’t just work in one particular area but have an understanding of the entire region (this helps with understanding trends and growth patterns in the region).
They ask you questions to see how much you know about the process (indicating that they value educating you).
They’re personable and friendly (you’ll be in a relationship with this person for weeks to come, so this goes a long way).
They’re patient with your questions and take the time to make sure you understand whatever it is you are discussing.
They may try to open you up to areas/options outside of your original plans in an effort to open your eyes to other possibilities (this goes back to making sure you know all your options).
If you find these traits in a Realtor you’ve been speaking with; then you’ve probably found your future buyer’s agent that will take excellent care of your needs and represent you well. And by doing so, you’re giving yourself an immediate advantage over most other home buyers in the market.
If you’d like to talk with me or any of our wonderful brokers at Hendrix Properties, please fill out the form below, tell us a little about yourself, and we’ll get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-07-20T04:52:00-07:002023-07-21T05:57:54-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:1630210 Questions to Ask a Buyer's Agent<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/What_questions_should_I_ask_when_interviewing_a_buyers_agent.jpg" width="800" height="450" alt="What questions should I ask when interviewing a buyers agent?" title="What questions should I ask when interviewing a buyers agent?" />
What questions should I ask when interviewing a real estate buyer’s agent?
I was on the phone recently with a couple looking to <a href="https://www.housesincharlotte.com/charlotte-relocation/">relocate</a> to the Charlotte area. They were asking the typical questions someone relocating to Charlotte might ask, but they were also ‘interviewing’ me. Most of their questions were ones I had heard and answered many times before, but the one question that stumped me a little was, “What questions SHOULD we be asking you?”. I’m glad they asked because it prompted me to sit back and put myself in their shoes and think about the kinds of questions they or any prospective home buyer should ask a <a href="https://www.housesincharlotte.com/blog/what-are-the-duties-of-a-buyers-agent/">buyer’s agent</a>.
I’ve read many blogs over the years, written by real estate agents, listing questions you should be asking your agent, but it seems that so many of them are from the viewpoint of what that agent wants you to ask rather than what needs to be asked. Instead of more of the same, I will give you the most honest and truthful advice I can and with your best interests in mind, not mine. If I, a long-time Realtor since 1999, were in the market to purchase a home, here are some questions I’d likely find myself asking my prospective buyer’s agent:
How long have you been in the business? - This is more or less a question to get things rolling. Someone fresh in the industry may bring more energy and hard work than someone who has been doing it for decades. Conversely, an experienced agent can get you through things (winning a multiple offer situation, getting over inspection hurdles, having reputable contacts, etc.) that a newer agent has never faced.
Why did you choose real estate as your profession? - A great way to get to know them, what they did before they became a Realtor, what makes them tick, etc. If their motivation was all about making money, that might show where their true interest lies.
Are you full-time? - Real estate is a tough career, and most agents either don’t make it or don’t earn enough for it to be their sole source of income. But frankly, it’s hard to show homes when needed or to properly run a transaction if the agent isn’t available and easy to reach. So, this is worth knowing but shouldn’t rule them out necessarily. I’ve seen even experienced agents go through rough patches due to the market conditions and have to get other work occasionally.
Do you work mostly with buyers or sellers? - I would want the answer to be “both” rather than just one or the other. If all your agent does is work with buyers, they might not understand the mind of a <a href="https://www.housesincharlotte.com/blog/home-selling-frequently-asked-questions-faqs/">home seller</a> and how to best appeal to their needs as much as someone who has represented sellers in the past. Having the ability to step in the other party's shoes can go far when it comes to negotiations and making your offer stand out above others.
What do you enjoy most about your job? - This is one of the most important questions you can ask if you really want to get a feel for what drives them. Is it satisfaction from pleasing clients, how they feel when they earn their trust, or how much they can make from a sale? You’ll probably recognize if they’re trying to appease you or being genuine with their answer.
What areas do you specialize in? - You want someone who works in and understands the real estate market in the area(s) you’re considering, how certain n’hoods and areas are trending, etc.
What makes you a good buyer’s agent or differentiates you? - I would look for them to say something more than just what firm they work for, how many clients they’ve represented, how many years they’ve been a Realtor, or any of the standard answers that don't necessarily mean much. Instead, how exactly will their <a href="https://www.housesincharlotte.com/home-buying-services/">services</a> benefit you, the buyer-client, over another agent's representation? What value will they add to you that you can't get elsewhere?
How do you typically communicate with your buyer-clients? - Ideally, they ask you the same question and try their best to mirror your best method of communication. Are you better with text messaging for the most part? Do you prefer more personalized phone calls? Maybe you prefer most things go through email so you can carefully track all correspondence? Ask about this so that you’re on the same page.
Do you on evenings and weekends? - Tell me about your availability. - I respect a Realtor’s right to take personal time for themselves, family and household responsibilities, etc. But, after 24+ years as a broker, I cannot imagine being as effective for my clients as I have been had I not been available in the evenings (within reason) and on weekends. So, ask about their practices and availability.
What do you like about living here, and what do you do for fun? - Just a great way to learn more about them as a person, get them to open up, and hopefully find some good information on the area.
Do you charge any fees? In recent years, some firms or brokers have been charging the buyer-client a fee for their services. These fees may be called 'administration fees', 'regulatory compliance fees', 'transaction fees', etc. If you want to use that agent and are okay with this fee, it's your choice. But this very important detail should be transparent and clearly pointed out to you. At Hendrix Properties, we do NOT charge any upfront fees for our services.
You may have some of your own questions to add to the mix, but at the end of the day, you want to work with a buyer's agent that you feel you can trust, have a rapport with, and have faith that they'll take your needs seriously and have the experience and know-how to help you reach your goals. I hope this article and these questions to ask a buyer's agent have been helpful.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-07-13T07:55:00-07:002023-07-17T07:14:33-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16301Will I get a better deal on a home if I go directly to listing agent?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Will_I_get_a_better_deal_by_going_directly_to_the_listing_agent.jpg" width="800" height="450" alt="Will I get a better deal if I work with listing agent?" title="Will I get a better deal if I work with listing agent?" />
Will I get a better deal on a home if I go directly to the listing agent?
If you’re searching for a home to purchase and have ever wondered whether or not you can save money somehow or get a better deal if you reach out directly to the listing agent, I’ll comfortably and confidently tell you that it’s highly unlikely. You might even end up paying too much for the home or, alternatively, have a more difficult time getting past any obstacles that may come along during the transaction (inspection issues, encroachments on the property, appraisal issues, etc.). Let me explain…
The listing agent on any given property for sale represents the owners of the property, not you. That means they have legal and ethical obligations and responsibilities to the homeowner that they don’t owe you, nor are they allowed to provide to you. They won’t negotiate the price and terms for you, help you navigate the often complicated inspections process, do anything to give you any leverage, or maintain any confidential information you share with them.
Now, there is a way that you can have the listing agent representing both you and the seller. This would be called “dual agency” and require permission from the seller and you because while both parties would be represented equally, there are still some limitations. For instance, the agent cannot negotiate either party's purchase price and terms. All they can do is convey your offer to the seller and get a response, but they cannot advise (which can backfire on you if there are multiple offers on the property). They also can’t advise you on any inspection or appraisal issues that may arise because they can’t do or say anything that might be unfair to one party or the other. On the other hand, dual agency situations can sometimes be extremely pleasant, especially if there is a lot of trust between you and the Realtor and you feel educated enough to make some of your own decisions. I’ve represented many clients in dual agency situations and have had them go wonderfully. But, you have to ask yourself if this is worth it versus hiring your buyer's agent to represent you 100%.
“But, if I’m not bringing a buyer's agent, and therefore, they don’t have to pay a buyer's agent, won’t the listing firm or seller be more willing to lower the price or give me better terms?”
Well, probably not. Here’s why…
The property owners have already <a href="https://www.housesincharlotte.com/blog/who-pays-the-buyers-agent/">agreed to pay the listing firm</a> a certain amount to list and sell the property. This fee or percentage includes whatever amount the listing firm is willing to compensate the buyer's agent if there is one. But if there is no buyer's agent, that fee is still owed to the listing firm. Why would the listing firm turn around and give that to you knowing that they have no buyer’s agent to buffer the communication between you and them (if there are issues), knowing they're going to have to work harder to make sure that you’re doing things on your end promptly, and possibly having to incur more liability? From a monetary standpoint, the listing agent and/or firm may (or may not) welcome this because they would earn more money but would also be working harder for it.
So, will you get a better deal if you go directly to the listing agent? Probably not. It doesn’t mean that you can’t or won’t have a wonderful experience, but if your goal, by going directly to the listing agent, is to get some deal, I wouldn’t bank on it. And if you do, it might not be worth the risks.
If you’re considering buying a home and want to ensure that you have a great experience, have wonderful representation, and have someone always looking out for YOUR best interests, please fill out the contact form below and let us know more about you and how we can help. We represent both buyers and sellers and are always transparent and open from the start and seek nothing but your best interests along the way.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-07-06T15:15:00-07:002023-07-08T04:37:12-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16300Can I work with more than one Realtor when buying a home?
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Can_I_Work_With_More_Than_One_Realtor.jpg" width="800" height="450" alt="Can I work with more than one Realtor?" title="Can I work with more than one Realtor?" />
Can I work with more than one Realtor when buying a house?
If you’re shopping for a home or even just looking around and getting your feet wet, you may have wondered whether or not you can work with more than one Realtor at the same time. There are times when that would certainly be expected and other times when you might just be shooting yourself in the foot.
If you’re looking in two or more different regions or states, you will obviously need and want a Realtor for each of those areas.
If you’re focused more so within one particular region, such as <a href="https://www.housesincharlotte.com/living-in-charlotte-nc/">the Charlotte NC area with 8-9 different counties</a>, and the one Realtor you're communicating with only works certain parts of the region or certain suburbs but not others you’re considering, then you might need to have someone else lined up for any other areas. In a case like this, you would want to be upfront with each Realtor and also have it spelled out in the NC Buyer Agency Agreement that they’re only representing you in certain areas.
You may also feel the need to have more than one Realtor if you have a need for someone that specializes in a certain type of market such as rentals, investment properties, finding a lot, or <a href="https://www.housesincharlotte.com/luxury-homes-in-charlotte-nc/">Charlotte luxury homes</a>, for instance, and the Realtor you’re speaking with doesn’t already serve that niche or specialty.
Now, if you’re looking around in the same general area, and your whole purpose is to have multiple Realtors working for you to see who can get you into a home the fastest, or just because you don’t want to commit to one, then you’re really just shooting yourself in the foot. No experienced Realtor is going to want to spend too much time with you without some reassurance that you’re interested in working with them and being represented by them (Realtors don’t get paid simply for showing homes). Also, if you are not committed to a specific Realtor, and have at least a verbal buyer agency agreement in place, then they cannot legally do much more for you than simply opening doors and this doesn’t even scratch the surface of what they’re capable of doing for you. Not to mention, you surely won’t get their full loyalty, attention, and eagerness to help you.
If you’re serious about buying a home, and you find a Realtor that serves the area(s) you’re searching in, and you’ve researched them and you feel comfortable with them, then it’s best to go ahead and get a Buyer Agency Agreement in place with them. With a buyer agency agreement in place your “<a href="https://www.housesincharlotte.com/blog/what-are-the-duties-of-a-buyers-agent/">buyer’s agent</a>” now has certain legal, ethical, and moral obligations to you that they didn’t have before. Don’t be afraid to take this important step. Find a <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">top-notch Realtor</a>, commit to them once you feel comfortable, and trust the process.
If you’d like to speak with us about your home-buying needs or have any questions or thoughts about this article, please feel free to use the contact form below and we’ll get back to you quickly. We’d love to help you in any way that we can.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-06-29T05:49:00-07:002023-06-29T17:00:45-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16298Are Buyer's Agents Worth It?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_Are_buyers_agents_worth_it.jpg" width="800" height="450" alt="Are Buyers Agents Worth it?" title="Are Buyers Agents Worth it?" />
Are buyer’s agents worth it?
If you’re buying a home and are wondering if it’s worth it to have a buyer’s agent representing you through the process, the answer is a resounding YES!!
First of all, buyer’s agents have an understanding of contract law, understand the procedures and practices for submitting offers on homes, have the ability to gain access to and show you available homes, and are legally and ethically bound to protect your best interests. They understand the home-buying process from beginning to end and much more. Additionally, in almost all cases, they are compensated by the listing firm, not you.
So, are buyer’s agents worth it? Absolutely, and the quicker you can find one and establish a relationship with one, the better off you’ll be. There aren’t many situations in life that are 'no-lose but everything to gain' and this is one of them.
If you’d like to have a friendly and informative conversation with one of our <a href="https://www.housesincharlotte.com/about/">experienced real estate brokers</a>, please fill out the form below and tell us a little about yourself and we’ll get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-06-23T03:35:00-07:002023-06-23T04:43:54-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16297What makes a Good buyer's agent?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/What_makes_a_good_buyers_agent.jpg" width="800" height="450" alt="Characteristics of a good buyer's agent" title="Characteristics of a good buyer's agent" />
What makes a Good buyer’s agent?
If you’re under the impression that real estate buyer’s agents don’t do much more than ‘show homes’, fill out some paperwork, and then collect a check at the closing table, then you’ve never had the pleasure of working with a truly good buyer’s agent. Here are a 6 important characteristics that set a good buyer’s agent apart from the rest.
A good buyer's agent will do a better job helping to find the right home for you because they’ve taken the time to get to know you and understand your desires and needs and motivation. They often understand what you’re looking for and what the market offers even when you do not.
A good buyer’s agent has an understanding of the area as a whole and not just their own target area. They know which areas or zip codes have better appreciation rates and higher values, which areas are growing and have people flocking to, which areas have more shopping and amenities, are served by highly rated schools, etc. This kind of knowledge is what helps to protect your long-term investment.
A good buyer's agent is an experienced negotiator and can increase your chances of winning a multiple-offer situation so that you’re not losing Offer after Offer and becoming increasingly discouraged. They do a better job communicating with the listing agent, understanding how to appeal to the seller of the property, how to construct a well-rounded offer and present it, etc.
Good buyer’s agents know how to foresee and prevent possible issues before they arise, spot things that might come up in inspections so that you’re not blindsided, point out things that could affect the resale potential of your home down the road, and so forth. They’re always thinking ahead.
Good buyer’s agents will be available to you and not make you feel like you’re just a number or someone they're just pushing along through the process. They’ll be attentive to your needs and emotions, understand your concerns or frustrations, and be patient and understanding with you. You’ll always know that they’re on your side.
A good buyer’s agent has solid systems in place to help make sure all aspects of your transaction are managed properly and with care. This can often come from the help of a great transaction coordinator or transaction management software/process, old-fashioned hard work and attention to detail, a proactive approach, and so forth. Good buyer agents are NOT flying by the seat of their pants and being reactive.
All real estate agents have to pass a state test to become licensed real estate agents but that’s about where their similarities end. The level of experience an agent has, their work ethic, their logical thinking abilities, what they’ve learned from failures and successes, and so many other things factor in to form a truly great buyer’s agent. Don’t make the mistake of assuming they’ll all do the same job for you. <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">Do your research</a> and choose wisely.
If you’d like to have a friendly conversation about your home buying (or selling) needs, please feel free to fill out the contact form below and tell us a little about yourself. We’ll get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-06-16T10:15:00-07:002023-06-17T07:59:47-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16296Who Pays The Buyers Agent?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Who_Pays_Buyers_Agent.jpg" width="800" height="450" alt="Who Pays the Buyer's Agent?" title="Who Pays the Buyer's Agent?" />
Who Pays the buyer’s agent in a real estate transaction?
One of the most common questions I receive from prospective homebuyers, both new and experienced, is “Who pays the buyer's agent?”. Or, “Who pays your fee?”. This is a great question to ask, and I’m pleased when our customers and clients ask this question because there should always be some clarity when it comes to Realtor commissions. So, forget what you’ve heard in the past. Forget what you hear on social media from folks that may or may not know. I’m gonna break it down for you in simple terms right now as it applies in North Carolina at least.
When a homeowner hires a real estate company to sell their home, they agree to pay the listing firm X%, period (I'm using 6% as an example but commissions are flexible and negotiable). This amount includes any compensation paid BY THE FIRM to any other real estate firm in exchange for procuring the buyer (which is you)
(taken from page 3 of the NC Exclusive Right To Sell Listing Agreement:)<br /><br /><img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/ListingFirmCompensation.jpg" width="800" height="92" alt="Listing Agent Commission" title="Listing Agent Commission" />
When the listing company advertises the home on the multiple listing service (the MLS), it is a requirement that the listing firm offer ‘some’ form of compensation to buyers' agents or whichever agent procures the buyer (often roughly half of their own fee). This fee or percentage is dictated by the listing firm and agreed to by the homeowner via the listing agreement.
(taken from page 4 of the NC Exclusive Right To Sell Listing Agreement:)<br /><br /><img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/ListingFirmCompensation2.jpg" width="800" height="173" alt="Buyer Agent Commission" title="Buyer Agent Commission" />
Here are a few hypothetical examples (and please note that all commissions are negotiable. There is no set commission in the real estate industry):
The homeowner and listing firm agree to 6% with the listing firm offering 3% to any agent bringing the buyer. (Listing firm keeps 3%, buyer agent’s firm receives 3%.)
The homeowner and listing firm agree to a 5% commission with the listing firm offering 2.5% to any agent bringing the buyer. (Listing firm keeps 2.5%, buyer agent’s firm receives 2.5%.)
The homeowner and listing firm agree to a 4% commission with the listing firm offering 2.225% to any agent bringing the buyer. (Listing firm keeps 1.775%, buyer agent’s firm receives 2.225%.)
Here’s the important part:<br /><br />When you sign a buyer’s agency agreement with your buyer's agent, you are, in a nutshell, agreeing to make sure that your agent’s firm gets paid an agreed-upon amount. The Buyer Agency Agreement will clearly state that the buyer's agent will seek compensation from the listing firm first. But, if the listing firm on a property you want to purchase is offering less compensation than is agreed to on the buyer agency agreement you signed, then the buyer (you) ‘may’ need to pay the difference.
(taken from page 1 of NC Exclusive Buyer Agency Agreement:)
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/BuyerAgentCompensation.jpg" width="800" height="259" alt="Buyer Agent Compensation" title="Buyer Agent Compensation" />
So, let’s say that you have agreed that your buyer's agent’s firm will receive 3% in exchange for <a href="https://www.housesincharlotte.com/blog/what-are-the-duties-of-a-buyers-agent/">representing you</a>. But, you end up purchasing a home for which the listing firm was only offering 2.5% to buyers' agents. Since you’ve agreed to make sure that your buyer's agent’s company receives 3% but the listing firm was only agreeing to offer 2.5%, you ‘may’ be required to compensate your agent's firm for the remaining .5% out of your own pocket. It could be that your agent opts to waive this remaining difference. It could be that they negotiate with the listing firm for a higher commission prior to making the actual Offer to Purchase (with your consent). It could be that all parties agree to build that difference into the sales price. Either way, make sure you discuss this with your agent up front and go over the ‘what ifs’.
So, going back to the original question “Who pays the buyer’s agent?”, it’s typically the listing firm UNLESS what they’re offering is a smaller amount than the buyer’s agent has agreed to with the buyer-client in exchange for their services/representation.
I hope this clears up a few things for you. We could certainly go much, much deeper but for now, I really just wanted to give you the gist of how buyer agent commissions typically work and how they’re paid. Regardless, trust me when I tell you that a <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">great buyer’s agent</a> can be worth well beyond what they actually earn. They can impact what you actually end up paying for the home, whether or not a seller accepts your offer over others, whether or not you get past any difficult obstacles along the way (such as major inspection issues), and on and on.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-06-09T04:14:00-07:002023-06-12T04:40:39-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16276What Are The Duties of a Buyers Agent<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/What_are_the_duties_of_a_buyers_agent.jpg" width="800" height="450" alt="Duties of a Real Estate Buyer's Agent" title="Duties of a Real Estate Buyer's Agent" />
What are the duties of a buyer’s agent in North Carolina?
A buyers agent is a real estate agent that has agreed to represent you in your home purchase in an official, contractual capacity. In other words, they have agreed to represent you and you have agreed to be their client. When a real estate company and its designated agent become your “buyer's agent”, they have certain duties to you. According to the state of North Carolina, those duties are as follows.
To promote your best interests
Be loyal to you
Follow your lawful instructions
Provide you with all material facts that could influence your decisions
Use reasonable skill, care, and diligence
Account for all monies they handle for you
Those stated duties above encompass quite a bit, but I will also expand in my own words, what I, <a href="https://www.housesincharlotte.com/agents/chadhendrix/">Chad Hendrix</a>, feel our responsibilities are when representing our buyer-clients and how we carry them out. The duties and responsibilities we tend to focus on are:
Making sure the client has a good understanding of the overall <a href="https://www.housesincharlotte.com/blog/home-buying-process/">homebuying process</a>
<a href="https://www.housesincharlotte.com/blog/what-to-know-when-buying-a-house-top-10/">Educating and guiding the buyer-client</a> on the market and the area so that they can make choices that will benefit them years down the road
Always thinking ahead and where they might be five years from now in terms of their investment and quality of living
Showing patience and understanding with their emotions and concerns
Communicating professionally and kindly with listing agents to create win-win scenarios rather than battles
Placing lots of emphasis and attention to detail on the offers to purchase and other paperwork that we prepare, and how we present them to the other party
Treating all of our clients the same and with the same importance regardless of price point
Understanding the need to be flexible with our schedules, being quick to respond, being available, and being very proactive with the home search itself and appointment scheduling
And more…
One of the key takeaways from this article should be that if you want the agent to become more than someone that just lets you in to view some homes (which you absolutely should), then you need to establish a working relationship with them so that you can start the reap the benefits of what a quality <a href="https://www.housesincharlotte.com/about/">Charlotte Real Estate Agent</a> brings to your homebuying experience. If you find a real estate agent that has the experience, the know-how, a history of <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">great reviews</a>, and one that you’ve established some rapport with, then I encourage you to go ahead and establish a working business relationship with them sooner than later.
If you’d like to speak with us about your needs, we’d love to help in any way that we can. Please fill out the form below and will get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-06-02T04:40:00-07:002023-06-02T05:35:38-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16275The 2 Most Commonly Asked Questions from Realtors to Buyers<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_The_two_most_commonly_asked_questions_from_realtors.jpg" width="800" height="450" alt="Two Questions Realtors Will Ask You" title="Two Questions Realtors Will Ask You" />
The 2 questions that Realtors will almost always ask you and why they ask.
If you’ve ever spoken with a <a href="https://www.housesincharlotte.com/about/" target="_blank">Realtor</a> when inquiring about a home for sale or heard back from them via email or text after filling out an online form, then you may have noticed that they’ll often ask you a couple of very important questions:
<a href="https://www.housesincharlotte.com/blog/why-realtors-ask-if-you-have-been-pre-qualified/">Have you been pre-qualified</a> for a mortgage?
Are you working with another Realtor (or some variation of that)
Now you may have been thinking to yourself, “I just want to go see a home. Why is this person asking me all these questions?”. Well, you should know that it’s not to dig too deeply into your privacy or pressure you in any way. Most real estate agents are more than happy to help you but they also have to protect their own safety, protect their time, and make sure they’re adhering to their profession’s code of ethics.
Have you been pre-qualified?
When a Realtor asks you if you’ve been pre-qualified, it is to find out if you have spoken with a mortgage lender to see if you can qualify for a mortgage. The seller (and their agent) of any property you wish to make an Offer to Purchase on will expect a pre-qualification letter before they’ll consider your offer. Also, getting pre-qualified protects you and the agent you're dealing with from spending time and emotion viewing homes you can’t even qualify to purchase. A good agent will always ask you about this very important detail.
Are you working with an agent?
Realtors will also commonly ask you if you are working with another Realtor/real estate agent. They do this for a couple of different reasons. Number one, they don’t want to interfere with any working relationship you may have with another Realtor because this would be considered unethical, outside of simply answering a few questions for you or something of that nature. Number two, they rightfully want to protect their own time. Showing homes to another Realtor’s client would only take time away from their own schedule and clients without benefitting them in any way. If you ARE already working with a Realtor, it’s always best to direct all communication through your agent or at least let any other Realtors (or <a href="https://www.housesincharlotte.com/blog/why-you-need-a-realtor-real-estate-agent-when-buying-new-home-construction/">new construction</a> salespeople) you come in contact with know upfront.
So, when communicating with an agent online or in person, don’t be alarmed by these simple must-know questions. Any experienced agent will ask you these questions which are just a good way to gauge how far along you are in the process.
If you do not already have a working relationship with a Realtor and would like to speak with us, we’d love to help. Please fill out the form below and let us know what we can do for you.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-05-26T06:30:00-07:002023-05-27T04:09:18-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16274Why Realtors Ask If You Have Been Pre-Qualified<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_Why_realtors_ask_if_youve_been_prequalified.jpg" width="800" height="450" alt="What Realtors Ask If You've Been Pre-Qualified" title="What Realtors Ask If You've Been Pre-Qualified" />
Why do Realtors ask if you’ve been pre-qualified?
When you communicate with a real estate agent for the first time, they’ll often ask you if you’ve been “pre-qualified”. Pre-qualification is the term used to describe the process by which a mortgage broker or lender verifies the income and credit history of an individual to determine if and how much they’re willing to loan the person for a mortgage.
A Realtor will ask you this for a number of reasons such as:
They want to see how far along in the home-buying process you’ve gotten and whether or not they may need to refer you to one of their recommended lenders.
To find out how much home you can afford to buy and what price range you should be looking in and what type of buyer you are.
It can be an indication that you may have already spoken with one or more other Realtors since the typical buyer doesn’t go out and get pre-qualified on their own without first speaking with a Realtor.
So, if a Realtor asks you if you’ve been pre-qualified, it’s just their way of gauging how far along you are and if you can afford to purchase a home, whether or not they can provide some assistance via a good lender recommendation, or to make sure they’re not interfering with any working relationship you may have with another Realtor. Not to mention, any ‘Offer to Purchase’ you make on a home will never be accepted without a pre-qualification letter or some form of proof of funds if paying cash. Don't be alarmed when they ask you this question and feel as though they're trying to get into your business or probe too much. It's necessary information for them to do their job and to know how to move forward in helping you.
If you’re thinking of buying a home and would like to speak with us about the <a href="https://www.housesincharlotte.com/blog/home-buying-process/">home-buying process</a> or would like us to connect you with a great mortgage broker, please fill out the form below and we’ll get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-05-19T14:45:00-07:002023-05-27T04:10:28-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16240What Do Realtors Do?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_What_do_realtors_do.jpg" width="800" height="450" alt="What Do Realtors Do?" title="What Do Realtors Do?" />
What do Realtors do?
Do you ever wonder what Realtors actually do? Do you get confused between hearing the terms buyer’s agent, seller’s agent, dual agent, etc, and wonder what they all mean? If you do, that’s certainly understandable, but I’d like to give you a little clarification so that you can better understand the different roles that Realtors play in your life and in your real estate transactions.
When a person goes to real estate school or takes classes to become a real estate agent, and they pass the test at the end of the course as well as a background check, they can become a licensed real estate agent. From there, they can go into different fields such as property management, land management, new home sales, or what we’re going to talk about here which is your typical residential real estate agent. If they activate their license with a real estate firm, join the local multiple listing service (MLS), and join the national association of Realtors, they then become a Realtor.
When you are in the process of buying a home or selling your existing home, you almost always have some sort of interaction with a residential Realtor. If you are buying a home, you may hire a Realtor to represent you as your buyer's agent. If you are selling a home, you may hire a Realtor to be your listing agent. There may also be a case where you work with a Realtor as a dual agent, which means that they are representing both you and the other party at the same time.
Buyers Agents:
If you are purchasing a home and would like to have a licensed professional representing you, then you will essentially be hiring a firm and their designated agent to represent you as your buyer's agent. As your buyer's agent, this particular agent or team you choose to work with has various duties to you such as promoting your best interests, being loyal to you, following your lawful instructions, providing you with all material facts that could influence the decisions you make regarding a purchase, etc. In a nutshell, your buyer’s agent is there to protect you, look out for you, and guide you through what can sometimes be a complicated process. Don’t take the process of choosing a buyer's agent lightly and don’t make the mistake of thinking that they’re all the same or that their only purpose is to open doors for you. Do your research, ask the right questions, read reviews, and trust the process.
Listing agents:
If you are selling your home and choose to have a real estate firm managing this process for you, then the firm and their designated agent(s) or a specific team become what we call your listing agent or seller’s agent. In this capacity, your listing agent has duties to you such as promoting your best interests, being loyal to you, following your lawful instructions, providing you with all material facts that could influence your decisions, using reasonable skill, care, and diligence to help your sell your home, etc. Generally speaking, your listing agent is going to help you prepare your home, market your home and then sell your home all while protecting your best interests along the way. The quality and experience of listing agents can vary greatly so it’s important that you choose wisely. Look at examples of other homes they’ve listed in the past, read customer reviews from their seller-clients, interview them, and make an educated decision.
Dual Agents:
Dual agency occurs when the same firm is representing both the buyer and the seller in a transaction. This will most commonly happen when an unrepresented buyer approaches a listing agent directly and permits that agent’s firm to represent them as well as their existing seller-client. The seller-client would also have to agree to this. This can also happen when a Realtor takes on a new listing that happens to meet the needs of one of their own buyer-clients. In dual agency situations, the firm is always the dual agent and may have the same agent representing both parties or alternatively, have separate agents underneath that firm’s umbrella representing each client as their “designated dual agent”. Dual agency can work very well but it can also leave either party feeling as though they weren’t really represented properly or as if there was possibly a conflict of interest. It’s important to carefully talk this through with the agent and get a clear understanding of what they can or can’t do for you while acting in a dual-agent capacity.
Conclusion
I hope this clears things up for you and gives you a better understanding of the different roles that a realtor may play in your residential transaction. Please know that a <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">great Realtor</a> can make an enormous difference in your home buying or selling journey and can be well worth their commissions (in most cases).
If you have any questions about the <a href="https://www.housesincharlotte.com/blog/home-buying-process/">home-buying process</a> or selling process, anything I’ve said in this article, or just want to talk about your needs, we’d be happy to help in any way that we can. Please don’t hesitate to reach out for a no-pressure, no-obligation consultation. We’re always here for you.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-05-13T03:45:00-07:002023-05-27T04:14:13-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16200How Soon Should I Start My Home Search?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_How_Soon_Should_I_Start_My_Home_Search.jpg" width="800" height="450" alt="How Soon Should I Start My Home Search?" title="How Soon Should I Start My Home Search?" />
How Soon Should I Start My Home Search?
If you’re starting <a href="https://www.housesincharlotte.com/blog/home-buying-process/" target="_blank">the home buying process</a> and wondering how far ahead of time you should start searching for a home prior to your actual move, the simple answer is that it’s never too early to start the overall process beginning with the important step of connecting with a <a href="https://www.housesincharlotte.com/about/" target="_blank">knowledgeable Realtor</a> for a friendly conversation/consultation.
The typical conversation with me usually starts out with getting to know you and finding out more about you, your timeline, your housing needs, what’s bringing you here, and so forth. We’ll then often proceed to discuss which areas or suburbs around Charlotte might be a good fit, the pros, and cons of each, what the area offers as a whole, etc. This is a wonderful opportunity for you to gain some knowledge of the area without feeling any sort of pressure to commit to a Realtor, to a move, or anything else. It’s a free discussion meant to inform you and nothing else. From there, I’ll typically offer to set you up on an automated home search based on your needs and my knowledge of the area so you can get a feel for what the market offers. We can even limit the search frequency to weekly, twice/month, etc, based on how far out your move is.
Now, if you’ve made the decision to move and have all your ducks in a row and just need to find the right home, then I would suggest that you start somewhere between 4-10 weeks prior to your desired move-in date. It often takes ‘about’ 4 weeks to close (to allow for inspections, appraisal, and so forth) and the typical homeowners will usually be willing to agree to a closing date as far out as 8 weeks, give or take. This timing also depends on the current market conditions.
So if you’re wondering how soon you should start <a href="https://www.housesincharlotte.com/property-search/results/?searchtype=2&searchid=800600" target="_blank">searching for a home</a> the answer is it’s never too early and being proactive can only help you. I would suggest that you go ahead and reach out as soon as the idea strikes you, say hello, and tell us about what you’re considering doing and let’s have a nice conversation.
If you’re considering a move, please use this form and tell us a little about yourself and we’ll get back to you quickly. We’d love to help!
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-05-05T11:00:00-07:002023-05-09T04:01:18-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16196When is the Best Time to Buy a House?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/When_is_the_best_time_to_buy_a_house_banner.jpg" width="800" height="450" alt="When is the best time to buy a house?" title="When is the best time to buy a house?" />
When is the best time of the year to buy a house?
If you’re wondering when the best time to buy a house is, well, that’s a simple question to answer. It depends on your own timing and the availability of homes in the market.
You’ll typically have less competition from other buyers in the market during the fall and winter months and potentially get a better deal when making an offer on a home because there are fewer buyers competing over the same properties. Therefore, you may be able to get a home for a lower price and you may also be able to get away without having to put up as much due diligence or earnest money, which can be much less daunting. The downside to searching for homes in the later months of the year is that you have less inventory to choose which could lead to your possibly settling on a home that doesn’t necessarily check as many boxes for you.
In the spring and summer months, you’ll see more inventory on the market but you’ll also run into more buyers competing over the same properties. This is a great time of year to buy a home because you typically have more to choose from but again, you may find yourself competing against more buyers for the same property leading to possible multiple-offer situations and having to put more skin in the game in order to win an offer.
At the end of the day, my suggestion to you would be to focus on when the timing is right for you and your family from a logistical and emotional perspective (job move, life circumstances, etc) rather than trying to time the market hoping you’ll get a better deal on a home. Also, make sure you have a great buyer's agent representing you so that when the right home does show up you’re in a better position to have your offer accepted and end up with the right home.
I hope this helps. If you’re considering a move, it’s never too early to reach out to a professional to discuss the possibilities and explore your options. We’re always happy to have a friendly discussion with you about the area, the real estate market, and your wants and needs.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-04-27T04:30:00-07:002023-05-03T08:47:04-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:161933 Things you should do NOW if searching for a home<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_Thinking_of_Buying_a_Home.jpg" width="800" height="450" alt="3 Things to do now if thinking of buying a home" title="3 Things to do now if thinking of buying a home" />
Thinking of buying a Home? Here are the 3 Things you should do right now.
If you’re seriously thinking about buying a home, it's important to put the right things into place and get off on the right foot. Here are 3 things I'd advise you to focus on first so that you have a solid start in your home-buying process.
1. Speak with an experienced and proven Realtor
The first thing you should do is connect with an <a href="https://www.housesincharlotte.com/about/">experienced realtor</a>. Tell them a little about you and what you’re thinking of doing and simply have a conversation. Use this conversation as an opportunity to learn more about the region you’re looking to move to, the home-buying process and how to get started, local market conditions, and so forth. A conversation with <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/">a top realtor</a> can save you tons of time and energy that you would’ve spent doing your own research alone. Additionally, if you find value in the conversation you have with this realtor and feel that they can represent your needs, then you’ve just locked down one of the most important components of the home-buying process in general, which is finding a great buyer’s agent to represent you.
2. Get pre-qualified by a reputable lender or mortgage broker (if needing a loan)
The second thing you should do if you’re thinking of buying a home is to get pre-qualified by a reputable lender or mortgage broker. During this prequalification process, you’ll have an opportunity to run numbers with that lender and find out how much home you can afford to buy and whether or not there are any special programs available to you. If you’re paying cash, you won’t need to get pre-qualified, you’ll just need a way of proving that you have funds available. Whether you’re getting a mortgage or paying cash, you’ll need evidence of your ability to do so at the time of making an Offer on a home. So, have this in place if you’re actively searching for a home.
3. Familiarize yourself with the local real estate market
Browse for homes online and start to familiarize yourself with what the market is offering in the areas you’re considering. Make sure that you’re set up on an automated home search as well. At Hendrix Properties, we’ll not only set you up on a custom home search but we’ll also copy ourselves on it so that we are always actively looking right along with you. When you feel that the time is right, have a game plan set with your Realtor to go see a few homes and hopefully find ‘the one’. If not, keep at it, and maybe the right one will come along soon.
Conclusion
In my experience, many homebuyers like to skip right to #3, home searching, and start there (which is the fun part, right?) and then worry about finding a Realtor and getting pre-qualified later but frankly, that’s not the wise approach. if you don’t have the right Realtor/Buyer’s Agent representing you and have a good relationship with them, you may still find the right home but not necessarily win the offer…especially in a multiple-offer situation which is common in the current seller’s market that we’re in here in the Charlotte, NC region. Additionally, if the right home does come on the market, you don't want to be scrambling to put those first two things into place (finding representation and getting pre-qualified) while other buyers and their agents are beating you to the punch.
So if you’re thinking of buying a home, reach out to us for a friendly consultation and get prequalified with a reputable lender. If you don’t already know a reputable lender, we can absolutely provide you with great recommendations. If you’d like to speak with one of us at Hendrix Properties please fill out the contact form below, tell us a little about yourself and we’ll get back to you quickly.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-04-15T04:00:00-07:002023-05-09T05:21:07-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:16194What to know when buying a house (10 important things to know for the educated home-buyer)<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/10important_things_to_know.jpg" width="800" height="450" alt="10 Things to Know When Buying a House" title="10 Things to Know When Buying a House" />
What to know when buying a house (10 important things to know)
If you’re thinking of becoming a homeowner and are wondering what you need to know when buying a house, you might be interested in this list I’ve put together for you based on my many years of experience. I’m Chad Hendrix and I’ve been serving home-buyers and sellers in the Carolinas since 1999. Here is MY top 10 list of things to know when purchasing a home.
1. You need a Realtor
It all starts here. You need a great Realtor working for you as your buyer’s agent if you want to increase your chances of having a successful home-buying experience. Your Buyer’s agent is there to protect you and advise you, to make the process as smooth and stress-free as possible, and ultimately get you to the closing table. People hire attorneys, doctors, accountants, financial advisors, and so forth for a reason. Place them the same importance on finding a great Realtor to represent you in your home purchase journey. Also, do this sooner than later so that you can begin cultivating that relationship and utilizing their knowledge and guidance. It’ll benefit you far more than you realize.
2. Choose your agent wisely
The realtor that you ultimately choose as your buyer's agent can make a huge difference. Realtors come with different levels of experience, work ethic, conflict resolution skills, attention to detail, communication styles, and on and on. Do your homework when choosing a Realtor to represent you and don’t assume they'll all get you the same results or represent you the same. Consider having a discussion with them upfront and asking them about their experience, what areas they serve, what makes them different, what motivates them, etc. Read their reviews if they have any and listen to your gut as well.
3. Get pre-qualified
If you plan on getting a mortgage, speak with a reputable mortgage broker or lender, sooner than later, about getting pre-qualified for a mortgage. I recommend you consider speaking with a local lender based on a recommendation from your Realtor. Speaking with a mortgage broker or lender allows you to get an estimate of what you might be able to borrow and afford based on a credit check and the information you provide about your finances. It will also give you a chance to learn about any special mortgage programs out there available to you. And again, speak with someone sooner than later rather than waiting until you see a home you’d like to buy and then deciding that you’re ready to out to a lender.
4. FREE Buyer Representation?
When you’re looking to purchase a home, having representation in the form of a buyers agent typically doesn’t cost you anything…because buyers agents are almost always paid by the listing firm which offers a certain portion of their fee to the buyer’s agent. Now, with that being said, you, as the buyer-client, are responsible for making sure that your agent gets paid the agreed-upon commission as stated in the buyer-agency agreement that you originally signed with them. So, make sure you have a full understanding of the buyer agency agreement and how your agent earns their commission. But, in most cases, your agent is compensated by the listing firm, thereby making it a no-cost, no-lose benefit to you.
5. More than “hauling and hoping”
The value that a great Buyer’s Agent brings to you extends far beyond their ability to unlock doors and show you homes or ‘Hauling and Hoping’ as we jokingly call it in the real estate world. During the home-buying process, your buyer’s agent will advise you, see things or situations that you can’t see, prepare legal paperwork for you, negotiate various things on your behalf, take on the risk of liability, occasionally put out fires, help you navigate the complicated inspections process, and so much more. So, if you've ever thought that Realtors are only there to show homes, trust me when I tell you that they do so much more beyond that.
6. Listing Agents represent the sellers, not you
If you’ve ever thought that going directly to the listing agent will somehow get you a better deal, help you see the home before others have a chance, or give you some sort of advantage if you want to purchase the home, then I’m here to tell you that’s not the case. Going directly to the listing agent will only put you in a position of having less leverage and negotiating power. Not to mention, you’ll have no one representing YOUR best interests because the listing agent is, by law, representing the sellers of that property, not you. With that being said, they could still Guide you through the process, and do it fairly, while continuing to legally represent the seller. Or, alternatively, represent both parties as a “dual agent”, if both parties agree to that. But, there are risks to both of those options so it’s usually best practice to make sure that you have your own representation and then let your Realtor handle the communication with the listing agent.
7. New Construction representation
If you’re leaning towards purchasing New Construction, It’s still wise to have your own representation. Those nice sales agents in the model home, as wonderful as they can be, are representing the builder, not you. Therefore, if you don’t have your own buyer’s agent then who’s representing Your best interests? The builder typically Offers compensation to your buyer’s agent and won’t otherwise kick it back to you in some form of rebate or discounted price if you don’t have an agent. So, Not utilizing a buyer’s agent when purchasing new construction is kind of pointless you might say. Now, if you ARE going to have a buyer’s agent representing you, make sure you let the builder know up front that you are working with a Realtor. If you don’t, there are some builders that may refuse to compensate your agent later on.
8. Home search websites
This is more of a “did you know” but when you’re searching for homes online, whether it be on our popular Hendrix Properties website, the national portals that we’re all familiar with, or with local real estate websites, you’re actually viewing everything on the market, not just that particular company’s listings. This is due to an agreement called “broker reciprocity”, which allows for the mutual exchange of listing data between real estate companies. So, if you find yourself on a website like Hendrix Properties which arguably has one of the best home searches around, know that you’re actually viewing everything on the market. Also, know that the person you see pictured by any particular listing may not be the listing agent (and in most cases isn’t) but they can still help you.
9. Amazing tax benefits
Those of you who will be first-time home buyers may not know this but when you take out a mortgage to purchase a home, you get amazing tax benefits. This is called the mortgage interest deduction which allows you to reduce your taxable income for the year by the amount of interest you paid on your mortgage. This can result in hundreds or thousands of dollars in net benefit to you. Speak to your tax advisor for more details of course but this is truly a nice benefit.
10. Location, location, location
When searching for a home, do your best to focus on finding a home in a great location even if it means that you have to spend a little bit more or sacrifice certain upgrades. It will be a better investment in the long run and quite possibly a better quality of life. I’m not encouraging you to become house-poor by any means, but if you can swing it, it’s almost always a better strategy in the long run. When you go to sell your home in the future, it will be worth more, will be more desirable to prospective home-buyers, and will be less likely to sit on the market for as long.
I hope you’ve enjoyed my top 10 list of What you should know when buying a house and have learned a few things. If you have any thoughts, or questions, or are looking to purchase a home in the Carolinas, please comment below.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />
2023-04-05T08:59:20-07:002023-05-03T08:59:55-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4579The Home Buying Process - 6 simple steps<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Blog_Buying_a_Home_in_six_simple_steps.jpg" width="800" height="450" alt="The Home Buying Process - 6 simple steps" title="The Home Buying Process - 6 simple steps" />
The 6-step home-buying process in Charlotte, NC
Buying a home in Charlotte can be overwhelming. If you are new to the area or if it's your first purchase, there's a lot to know. To this day, I remember my first home purchase in 1996 as if it were yesterday. Though there were a few bumps in the road, what I remember most was my lack of understanding of the whole process as it was going on. I’m someone who likes to have control over things and that was more than a little uncomfortable for me. So, years later and now that I’m a REALTOR®, I try hard to educate the consumer, especially <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/" target="_blank">my own clients</a>.
While you’ll find lots of articles about this topic, I wanted to write one that's (hopefully) easier to digest. So here are the simplified steps to buying a home in Charlotte.
1. Find a local and trusted Realtor
A licensed REALTOR®, acting as your buyer’s<a href="https://www.housesincharlotte.com/blog/what-is-a-buyers-agent-and-why-do-i-need-one/" target="_blank"> agent</a>, will be your best friend during your home-buying process. Not only do they have a fiduciary responsibility to protect you and your best interests, they understand the process from beginning to end and can connect you with the best mortgage providers, attorneys, inspectors, and so on. Your buyer’s agent is your lifeline during the process and will hold your hand all the way through so getting one early on is the best way to go. If you don’t already know a good Realtor, <a href="https://www.housesincharlotte.com/about" target="_blank">let us help you find one</a>. Most articles you read will tell you that the next step (getting pre-approved) is actually the first thing you need to do but if you know a good Realtor, chances are that they already know an excellent lender.
2. Get Pre-Approved
The mortgage pre-approval process involves connecting with a mortgage person or your bank and allowing them to review your credit, work history, job situation, debt-to-income ratios, etc, and evaluate your ability to qualify for a home loan. If you can’t qualify for a mortgage or currently afford to make an all-cash offer there really isn’t any sense in continuing your home search until you’re financially ready.
3. Search for Homes!
Now that you’re pre-approved for a mortgage, know how much you can afford, and are comfortable spending, it’s time for the real excitement...<a href="https://www.housesincharlotte.com/property-search/results/">finding a home</a>! Some of the main considerations in your home search should include location, proximity to work, area amenities, size and style, schools, etc. Speak with your Realtor about this as well and allow them to give you some insight into all of these important factors. Once you and your Realtor have come up with a good “shopping list,” so to speak, it’s time to go view some homes in person. And don’t worry, your buyer’s agent will schedule appointments. Each home you go through will be a learning experience so don’t rush the process. You’ll start to notice things you do or don’t like in a home, will be sharing your feedback with your Realtor, and will eventually “just know” when you’ve found the right home.
4. Make an Offer
So, you’ve found the home that you’d like to live in, have been pre-approved for a mortgage, and have a great Realtor representing you. It’s time to make an Offer to Purchase and negotiate terms. An Offer to Purchase is just that...it’s an offer to a seller with specific terms in a legal document to purchase their home. Besides the 16 pages of legal jargon, the contract includes various negotiable items such as price, earnest money and due diligence fees, and dates. The seller can accept your offer, reject it, make a counteroffer, or simply not respond. Now, prior to making an offer, you’ll want to have a good idea of what the home is really worth. Your Realtor will help you with this part by studying comparable sold properties and using their knowledge of the area to help come up with what they feel is a “good, fair, price” (as I like to phrase it).
5. Do your Due Diligence
Congratulations, you’re now under contract! But the work isn’t over; and as a matter of fact, it’s just beginning. In order to complete your purchase, there are several things that need to be done:
Consult with your chosen mortgage person, provide them a copy of the contract, and pretty much do whatever they ask of you
Schedule closing (your Realtor likely knows a good real estate attorney and can arrange this part for you)
Schedule inspections (ask your Realtor to explain the various types of inspections you should consider) and later deal with negotiating over necessary repairs pending the results of the inspection(s).
Schedule a survey (if desired or required by the mortgage provider)
Arrange movers
Obtain homeowners insurance
Line up utilities
Verify that the Closing statement is correct and make any final changes
Complete a final walk-through of the property
6. Close on your New Home!
Here you are 30-60 days later and the closing date has arrived. You’re in the attorney’s office with your Realtor, feeling excited and maybe a little nervous at the same time, and it’s time to sign the papers. Your closing will take about 30-60 minutes typically. After that, you'll just need to wait for the deed to 'record' so that it to be official. There's a good chance that you won't be allowed to have the keys until the deed records so you'll want to account for that when scheduling the movers. Congratulations on being a new homeowner!!<br /><br />My goal in this article was not to explain all the nuances involved in the home-buying process - there are many! - but instead, break it down into something a little more manageable and easier to grasp. Let your Realtor/Buyer’s Agent focus on all the little details so you can focus on finding the perfect home. If you’re thinking about making a move, contact me. I’d like to get to know you a little bit, find out what you’re looking for, and help you in any way that I can. You can <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/" target="_blank">read what some of my past buyers have had to say here.</a>
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-03-29T06:00:00-07:002023-09-14T04:55:09-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:15972Charlotte Real Estate Market Report - Housing Market Data Spring 2023
I talk about the Charlotte NC Housing Market as it stands through the end of February 2023 and go through a series of easy-to-understand graphs showing: -
Median Home Prices in Charlotte over the last 3 years and trends
Average Price per square foot of homes in Charlotte
Number of showings per listing
Months worth of inventory/supply
In this video, I explained the current state of the Charlotte real estate market while also giving some honest advice if you're looking to purchase a Charlotte home or if you're considering selling yours.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2023-03-20T08:56:20-07:002023-05-03T09:01:23-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:8131Do You Need a Real Estate Agent When Buying New Construction?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Why_you_need_a_Realtor_when_buying_New_Construction.jpg" width="800" height="450" alt="New Construction Buyers Agent" title="Charlotte New Construction Buyers Agent" />
If you're thinking of purchasing new construction in the Charlotte, NC area (or in any location, I'd imagine), here are a few things to consider and some things that you may or may not know. And please trust me when I tell you there isn't one bit of fluff or sales talk here. I'm here to help educate you and hopefully make you a more informed Charlotte new home buyer.
Yes, You Need Representation When Purchasing New Construction.
<a href="https://www.housesincharlotte.com/blog/what-do-realtors-do/" target="_blank">"Buyer's agents"</a> are real estate agents that represent the home buyer in a home purchase. A real estate agent becomes your buyer's agent once you sign a buyer agency agreement with their firm. Once that happens, they will have certain <a href="https://www.housesincharlotte.com/blog/what-are-the-duties-of-a-buyers-agent/" target="_blank">duties</a> to you that all work towards protecting your best interests during your home transaction. The concept of buyer agency has been in existence in the real estate world for at least 25 years now, but not everyone realizes that you need your own representation when purchasing New Construction Homes as well. A buyer's agent is there to protect you, so make sure you have one. Here are some things that your buyer's agent may do for you during your new home purchase:
Help advise you on neighborhood, location, picking the right lot, upgrades, plan modifications, etc.
Helping review and understand builder contracts and maintaining paperwork.
Advising you on the importance of independent home inspections, connecting you with a proven inspector, and helping you decide which inspections to consider (pre-drywall, final, radon, etc).
Connecting you with a good lender and attorney if you choose not to work with the builder's preferred lender and attorney.
Provide you professional guidance and have someone in your corner along the way.
and more...
The Sales Representative Represents the Builder, Not You!
When you walk into a model home or sales trailer, you're typically met by the New Homes salesperson or their assistant if they happen to be off that day. These folks are usually true professionals and will welcome you with open arms. Their job is to sell you their product, a new home. They are also very knowledgeable about the product, can be great resources on the surroundings, know much about the construction process, etc. Personally, I LOVE working with new home sales reps because they are specialists at what they do and make my job easier. But again, they are representing the builder, not you.
A new home sales rep won't necessarily advise you against purchasing one of their lots that may back up to a power line or won't bode well for future resale if you're unknowingly spending too much on upgrades, fight for your behalf if the construction personnel doesn't deal with issues you come across, etc. You should always have your own representation. They have theirs; you should have yours.
The Builder pays Your Agent.
For a builder to put their homes for sale on the MLS, they must offer some form of compensation to buyer's agents. That's an MLS rule. The MLS (Multiple Listing Service) is a powerful tool because that's the main database of homes for sale across any given region. Once a home goes on the MLS, that data can then trickle down to all the real estate companies and agent sites (like <a href="https://www.housesincharlotte.com/new-construction-homes-in-charlotte-north-carolina/">the one you're on right now</a>, for instance) as well as the national portals like Zillow, Trulia, and Realtor dot com. You can see what a massive amount of exposure that can bring to a builder. But they have to offer compensation to get this kind of exposure. So, when a Realtor says, "The builder pays us," that's what they are referring to. With that said, why would you NOT bring your own representation?! It's free! :-)
You Won't Get a Better Deal by Showing Up Without an Agent.
It would be natural to think that a builder might save money if you showed up unrepresented. And then perhaps they can give some of that 'would-be' compensation back to you in the form of extra upgrades or a lower price perhaps? Well, it doesn't work that way. The builders already have that compensation built into their budget, and if you don't bring your own representation, they'll pocket it, so to speak. The truth is, I have great relationships with the new home sales reps out there, and I'm sure they'd tell you the same thing about me. In a new home deal, everyone is typically working towards the same goal, and that's to get you to the closing table with a smile on your face.
Important! Mention Your Real Estate Agent When You First Register.
When you walk into a new home sales office, they'll typically ask you to register. They'll ask for your contact information, how you found them, the agent's name (if you have one), etc. Hopefully, by now, you're convinced that you need your own representation, and if so, also know that you need to put your agent's name down during this registration process. While many builders may not have a problem with you doing so at some point down the road, others DO have an issue with it. A few builders have a rule that if you don't register your agent at the first visit, they'll refuse to compensate them, leaving you the option of paying your Realtor yourself or going in with no representation. Neither sounds like a great option, does it? <br /><br />
In Conclusion, If you're considering buying new homes in Charlotte or the surrounding areas, I suggest you reach out to me as early as possible, and let's start with a friendly conversation. If you've already started looking around and have visited the Charlotte area's new home communities, that's okay too. Let's pick up where you currently are and go from there. But you should always have a great Realtor by your side whether you're buying new or resale, and I'd like to be that person possibly. <br /><br />I'm Chad Hendrix, Owner and Broker in Charge of Hendrix Properties, and I sincerely hope you've gained valuable insight from reading my article. You can fill out the contact form below to connect directly with me or <a href="tel:7047374400">Call me at 704-737-4400</a> for a friendly, NO-pressure conversation about your needs.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2022-05-05T08:29:00-07:002023-09-27T09:21:19-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4747Charlotte Listing Specialists - Home Selling Services<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Our%20Listing%20Services%20Blog%20Graphic.png" width="800" height="450" alt="Charlotte Home Selling Services" title="Charlotte Home Selling Services" />
When it comes to selling a home with the services of a real estate agent, I cannot stress enough the fact that not all agents or companies are created the same. There is a HUGE difference between how agents market homes, their understanding of home buyer tendencies and patterns, their use of proper pricing strategies, their experience with staging and preparation, negotiation techniques, reputation in the real estate community, how they handle unforeseen difficulties during the transaction, and on and on. Don't make the mistake of assuming that all real estate agents will get you the same results because choosing the wrong agent can cost you thousands of lost dollars and unneeded stress. Take the time to research them and their results before listing your home.
Our Charlotte listing agents, at Hendrix Properties, view the process of selling your home as more of a systematic project rather than simply popping your home on the MLS with some nice photos and hoping for the best. Every single thing we do from the moment we pull into your driveway all the way through to the closing table is designed to get you the most money for your home, in the shortest time on the market, and with the fewest headaches. We take the job of selling your home very seriously and place a keen eye on every step along the way. Take a look at some of our offerings below and then reach out to <a href="https://www.housesincharlotte.com/agents/chadhendrix/">Chad Hendrix</a> or any of our other <a href="https://www.housesincharlotte.com/about/">Charlotte listing agents</a>.
Our List of Services:
Free Broker Consultation and Price Opinion
When we meet with you at your home, we'll give you a good idea of what your home is likely worth as well as what we feel it should be listed at. Our opinions are based on comparable sold properties in the area, our years of experience, and our understanding of the market. In the meantime, feel free to try out our <a href="http://www.hendrixhomevalue.com">Free CMA (automated market analysis)</a>.
Complimentary Home Staging Consultation
Getting your home looking just right is one of the most important steps in the preparation process. In addition to the suggestions we'll have for you, we also bring in our award-winning home stager who will prepare a detailed, room-by-room to-do list so to speak. This visit will also give her a chance to assess the property and any actual 'staging' needs that the home may need as well.
Custom Home Measurement and Floor Plan
For most properties, we'll have your home professionally measured and generate a beautiful floor plan. Buyers appreciate this and it's also a good way to ensure that the depicted square footage is accurate. This is one of the many services we provide that most agents do not.
Professional Photography
Professional photography is something we strongly believe in. To us, that means bringing in one of the best photographers in the region (we work with 2-3 tried and true professionals). Our photographers don't use their iPhones, aren't the agents themselves taking the photos, and aren't in and out of the home in 15 minutes. Our photographers bring in extra lighting, expensive equipment, great technique, and years of experience, and have wonderful editing skills. It's easy to see the difference in our work versus most.
Drone Photography and Video
Drone photography is one of the neatest forms of marketing in existence. It allows for beautiful overhead shots of your home that can't be taken with traditional photography and show characteristics of your lot that might otherwise be missed.
Magazine-Quality Home Brochures
We create beautiful brochures to be placed inside your residence. Our goal is for buyers to pick one up and take it with them to be reminded of how lovely your home was and some of the more important details. Without these, they may forget some or even all aspects of your home, especially if they've seen several others that day. It's one more way that we work to make your home stand out among the others.
Full Motion Virtual Tour
For certain homes, we may bring in a videographer to shoot more of a full-motion type of video for that added touch. The size, style, location, and price point of the home help determine if this type of marketing is worth adding to the mix.
Facebook Marketing/Digital Advertising
Targeted digital marketing on Facebook is something we do over and beyond what your typical real estate firm will do. We like to place enticing ads in front of likely home buyers and current homeowners within a certain number of miles of your home. This creates a buzz, gives your home added exposure, and increased the likelihood that we'll get your home sold fast and at a higher price.
Multiple Listing Service (MLS)
The local MLS (multiple listing service) is THE main database of real estate listings in our local market. It is crucial that your home is listed here because once listed on the MLS, it then trickles to sites all over the region and country.
YouTube Video
YouTube is the second most popular search engine in the world behind Google. We will post a video or virtual tour of your home on our YouTube channel for easy sharing or for consumers to find naturally.
Single Property Website
Our Single Property Websites are one of the best ways to showcase all that your home and neighborhood have to offer. It's a central place to show professional photos, video(s), home features, and on and on. Here are a couple of examples: http://5351heartwood.com/ and http://3506piaffeavenue.com/
Syndication across Zillow, Realtor.com, Trulia, and National Portals
We want your home listing to be seen by as many prospective home buyers as possible. To do that, we need to go to where they're at. Besides the local company real estate firm websites like www.HendrixProperties.com, home shoppers also frequent popular national portals like Zillow, Realtor.com, Trulia, and a few others. Not all real estate companies show their listings on Zillow but we have agreed to.
Your Home Listing Placed on Local Real Estate Company Websites
When your home is listed with us, we'll also make sure it's listed on every company website around. Thanks to what we call "broker reciprocity" - by allowing other companies to advertise their listings on our website, they agree to showcase our properties on their websites. So, you're getting full exposure across the board.
Eye-Catching For Sale sign
'For Sale' signs were the first form of advertising homes for sale and are still effective today. Our signs, however, are bright and colorful and represent quality. We don't shortchange anything, even down to our distinguishable real estate sign panels and white posts.
Central Showing Service
We use a centralized showing service called "Showing Time" to facilitate showings of your home. Buyer agents go through this service to request appointments to see your home based on your instructions. We can track showings and feedback, manage various things through their app, and simply make it easier to get your home shown.
Electronic Lockbox
We use electronic lockboxes on all of our listings. These lockboxes track every agent who comes into your home even down to how long they were there. These make for an added layer of safety as well as a professional means of entry for those with appointments.
Contract Negotiations
Contract negotiations aren't just about the price of your home. There are many other important terms of a contract, such as due diligence and closing dates, due diligence, and earnest money amounts, closing costs, and dealing with multiple offers. And then, once under contract, we deal with the "second set of negotiations" in inspections and repairs. Deals can easily be lost or made here. Having an experienced negotiator with a good reputation and the ability to work nicely with other professionals is another thing that sets us apart. There IS a difference.
Transaction Management
For us, transaction management is more than simply helping you with paperwork. It's helping you to always understand what's next and what to expect, guiding you through complicated documents with ease, and helping you understand various terminology and options. We want you to feel confident and in the know about the entire selling process.2021-11-13T08:20:00-07:002023-09-27T09:06:47-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:12053Home Selling Frequently Asked Questions (FAQs)<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Home%20Selling%20FAQs%20Blog%20.png" width="800" height="450" alt="FAQs about Home Selling in Charlotte NC" title="FAQs about Home Selling in Charlotte NC" />
Over the past 22+ years, I have been asked all sorts of questions from homeowners about selling their homes. With so much misinformation in advertising and the ever-changing real estate business models, I thought it would be helpful to share my thoughts in this informative, easy-to-read Q&A article. My goal is to provide homeowners like you with candid answers to the most commonly asked questions about the home-selling process. Please let me know if you have other questions that I haven't addressed and I'll be sure to update our article in the future.
Jump To Sections: <a href="https://www.housesincharlotte.com/#FSBO">FSBO vs. Listing with a Realtor</a> | <a href="https://www.housesincharlotte.com/#Pricing">Pricing</a> | <a href="https://www.housesincharlotte.com/#Timing">Timing the Sale</a> | <a href="https://www.housesincharlotte.com/#Preparation">Preparation</a> | <a href="https://www.housesincharlotte.com/#Marketing">Marketing</a> | <a href="https://www.housesincharlotte.com/#Showing">Showing Your Home</a> | <a href="https://www.housesincharlotte.com/#Commissions">Commissions/Fees</a> | <a href="https://www.housesincharlotte.com/#Choosing">Choosing the Right Listing Agent</a>
[<a href="https://hendrixhomevalue.com/">Click here for your Free Home Value Estimate</a>]
FSBO ("for sale by owner") vs Listing with a Realtor
Q: Will I save money selling my home without a real estate agent?
A: It's possible. If you already have an unrepresented buyer lined up (one who is not already working with a real estate buyers agent) and they are in agreement with the terms you've proposed, you may be able to save some money selling it yourself. However, this is rare. In most cases, the staging and marketing abilities of an experienced listing agent can help you achieve far greater results than you would on your own. Not only can a great listing agent help you sell your home for more money but can also attract more activity, more qualified buyers, and stronger overall terms. Listing your home with an experienced Realtor can also help you prevent or easily navigate issues that may arise once the home is under contract. Trying to do this on your own could be detrimental to the contract you have in place if you are not fully educated on the process and legalities.
Q: Can I still list my home on the MLS even when selling FSBO “For Sale By Owner”?
A: Only licensed Realtors can put listings on the MLS but you can achieve this by contracting with a 'discount broker'. A discount or 'limited service' broker can list your home on the MLS for a flat fee and will classify your listing as limited-service instead of full-service. In doing so, you would still need to offer some compensation to a buyer's agent and you would still pay a non-refundable fee to the discount broker. The big downside to you as the seller is that you'd be unrepresented and have no one working for your best interests. Remember, the buyer's agent is contractually obligated to protect their client and serve their best interests, not yours. Another potential downside is that the buyer's agent would be instructed to work directly with you, the seller, instead of having an experienced professional (listing agent) on the other side of the transaction. Frankly, I've never seen this as being a positive approach for any seller.
Q: What are the benefits of listing my home with a full-service Realtor?
A. A great listing agent will help you prepare and even help stage your home (if necessary). They'll also likely hire a professional photographer or videographer so that your home is showcased in its best light. They will help market your home in various ways whether it be through postal mailings, <a href="http://3506piaffeavenue.com/">single property websites</a>, social media advertising, and most importantly, via the MLS. Once listed on the MLS, your home's listing will be distributed to almost every online real estate portal out there. An experienced Realtor will properly guide you through all of the listing paperwork, and seller disclosures and offer you advice on pricing your home strategically (to receive the most interest while maximizing your profit). And that's just the beginning. Once there is interest in your home, your listing agent will help you negotiate the best offer and terms and assist with all of the contracts and paperwork. They will help guide you through the inspection and appraisal process and work with both the closing attorney and buyer's agent to get past any difficulties or roadblocks so that you actually make it to the closing table. There can be a big difference from one Realtor to the next but if you work with a reputable one, they are well worth their commission and much more.
Q: What is an iBuyer?
A: An iBuyer is a company that uses technology to make an offer on your home, often through an automated valuation process. The big players are Opendoor, Offerpad, Zillow Offers, Knock, and Redfin. They seem attractive on the outside because they skip right over the whole listing process and deal directly with you to purchase your home. This can work nicely in a situation where you need to purchase another home but need to sell yours first or if your home needs a good bit of work that you don't want to deal with. The downsides are that they are in the business to make a profit and will typically offer you much less than your home is truly worth. They still charge you commissions and most often charge for unexpected repair fees. I don't think it's a bad idea to check with one of these companies but I would highly encourage you to consult with a qualified and experienced listing agent prior to making a decision, especially if more money in your pocket is important to you.<a id="Pricing"></a>
Pricing Your Home
Q: How do I determine the value of my home?
A: With residential real estate (homes/townhomes/condos), buyers will actually determine the value of your home. This so-called "market value" is what the buying public is willing to pay for your home based on many factors such as the current market conditions, supply & demand, comparable home sales, size, location, condition, and home improvements. As a homeowner, you can increase the desirability and potential for a higher sales price through better home preparation and the marketing/exposure of your listing.
Q: How do I choose the best list price for my home?
A: You can estimate a good list price by taking into account what other similar homes in your neighborhood or surrounding areas are selling for and then comparing things such as price per square foot, condition, location, improvements and upgrades, and other factors such as the current market. An experienced Realtor can help counsel you on this as well as supply you with a CMA (comparative market analysis) to help you make the best decision.
Q: If I price my home higher, will I get more for it?
A: Pricing your home with a little buffer room is quite common but simply pricing it higher than it should be (in hopes of getting higher offers) can actually backfire. Overpricing your home could result in fewer home showings and extended days on the market. More days on the market (especially in a seller's market) could cause buyers to question if there is something wrong with your home. Another problem with overpricing your home is that you may go over the max threshold for some buyers that would have shown interest had you been priced correctly. Our opinion is that you will likely receive a better price when you price it reasonably from the very beginning and then allow the market (buyers) to drive the price up. There is a strategy to this that shouldn't be taken lightly.
Q: Are Zestimates and other online home valuation tools accurate?
A: Well, they can be but in no way should these be relied on to be 100% accurate. The estimates from Zillow or <a href="https://hmbt.co/BwnbdM" data-uw-styling-context="true" data-uw-rm-brl="false">sites like ours</a> are automated valuations based on tax records and sales data from the MLS. They don't take into account such things as location, condition of the home, upgrades, recent home improvements, etc. An experienced Realtor can help properly evaluate your home and prepare a current CMA (comparative market analysis) based on all of these factors.
Q: Is Market Value, Appraised Value, and Tax Value the same?
A: "Market Value" is the price a home buyer is willing to pay for your home. A professional appraiser can determine the "appraised value" which may or may not correspond with the market value. Lenders typically use the appraised value when determining the LTV (loan to value) ratio during the mortgage process. "Tax value" is the value that the city or county tax assessors place on your home for tax purposes. This value can stay in place for as long as 8 years (in NC) while the market value can fluctuate. Tax value is typically lower than market value, sometimes by 20% or more.<a id="Timing"></a>
Timing the Sale of Your Home
Q: How soon before wanting to sell, should I have a Realtor out?
A: If you're even contemplating a sale, I would suggest having an experienced Realtor come out as soon as possible even if you're not planning on selling for months. Not only is this a good chance to meet/interview your possible future listing agent but it also gives you plenty of time to be working on any suggested repairs, improvements, and decluttering you'll want to do before listing. A top-notch listing agent can spot even the smallest things that may make a big impact on the way your home shows and feels to prospective buyers.
Q: How long does it take to get my home ready for the market?
A: 2 to 3 weeks is a good, safe estimate assuming that your home is almost ready to go. To properly list a home, we usually need a couple of weeks so that we can line up our home stager, photographer & videographer, design the printed & digital marketing pieces, have professional home measurements made, complete the listing paperwork, etc. An extra week will give us a little buffer room to make sure that things are done just right. A couple of weeks may seem like a long time but what you don't want to do is rush to get your home on the market before it's 100% ready, as it could end up costing you more than just time.
Q: How long does it take to sell my home?
A: In this current seller's market, we can usually get your home under contract within the first weekend or week it's on the market. There are clearly some variables here such as whether or not you've taken our advice with preparation and proper pricing, whether or not there are factors that we can't control (environmental factors, noise from a busy road, power lines behind the home, location, etc), and the current market that you are selling in. There are always home buyers out there and we most definitely have the skills to make your home stand out from the competition. When the right things are put into place, you can usually expect positive results rather quickly.
Q: When is the best time to sell my home?
A: You'll often hear that spring is the best time to list your home. Spring is typically the start of the selling season and buyers become much more active. Others may say it's best to list in the summer, before the start of the new school year. Truth is, there are ALWAYS buyers out there regardless of the time of year. If you're thinking of listing in the spring or summer, there will be more competition in the market. If you waited later in the year to list, your results could be just as good, if not better, because there is typically less inventory. In a nutshell, the best time to sell is when it's right for YOU. We will help your home stand out no matter the time of year.<a id="Preparation"></a>
Preparing Your Home
Q: What can I do now to prepare my home for sale later?
A: Ideally, go ahead and have us out for a visit so that we can walk through your home with you and give you customized suggestions (remember, you can't do this too soon). But, if you're not ready for that yet, I would do the following: De-clutter as much as possible; Sell or donate furniture or possessions that you won't need going forward; Pack up items you don't need now and neatly stack boxes in the garage or store offsite at a storage facility or in a POD delivered to your residence; Repaint, if needed, to freshen up the space or neutralize strong paint colors; Make any necessary repairs to the interior or exterior; Spruce up the landscaping (pruning, aerating, and seeding, adding mulch, etc). This would be a heck of a start and something that you can be working on months in advance.
Q: Won’t my home sell anyway, regardless of whether or not I put much effort into preparing it?
A: This is a common question and I can tell by many of the homes I see on the MLS that many homeowners (and real estate agents) seem to live by this presumption. However, there's also the saying "If you're going to do something, do it well" and this is exactly how we like to work. We know for a fact that even the smallest things can make a big difference. This can amount to more money in your pocket and stronger, more qualified buyers. We don't just pop your home on the MLS and hope for the best. We put extra time and effort into your listing to ensure we get you the best results possible...the best price, the most buyers, the strongest terms, and the best overall experience.
Q: Should I get my home pre-inspected prior to putting it on the market?
A: It depends. In theory, it's a great idea for both parties. Having your home inspected prior to listing will give you time to make the necessary repairs that will likely be found during a buyer's inspection period. Some home sellers also like the peace of mind they have knowing there (likely) won't be any big surprises that arise that could be detrimental to the transaction. Just remember, should you decide to have your home pre-inspected, you'll want to be prepared to either remedy those items before listing or disclose them to future buyers (as those issues would then become 'material facts'). Now, if your home is fairly new, in good condition and you've been doing preventative maintenance on your home, it's probably okay to just wait for the buyers to do their own inspection and then take things from there. We can advise on what we feel would be best in your situation once we see your home.
Q: Will my home show better vacant or furnished?
A: There's no question about it, staged homes show better, sell faster, and for more money than vacant homes, period. Staging will make your home stand out in photos, make it feel much more appealing in person, allow potential buyers to better visualize themselves living there, and will ultimately get you a better price and better terms for your home. With that being said, not every room in your home needs to be staged. In some cases, vignette staging (light staging and accessorizing) may be enough. In other cases, bringing in furniture for the more prominent areas (kitchen, living room, dining room, owner's bedroom, office & outdoor spaces) will work best. We will typically provide (at our cost) a complimentary home staging consultation by our award-winning home stager to determine what the best approach is for you. Included in this consultation is a written step-by-step document that details what you can do on your own too. We've personally seen some of our sellers walk away with thousands (and for some, tens of thousands) of dollars more compared to other similar homes that were not staged. The decision to stage your home (fully or partially) should not be taken lightly. <a id="Marketing"></a>
Marketing Your Home
Q: What is the MLS?
A: The MLS, or Multiple Listing Service, is the main database that houses information for the majority of all homes for sale by cooperating real estate brokers (member participants). It was originally founded over 100 years ago, long before computers and internet technology were around as a way to exchange and share listing information to brokers outside of one's own personal network. Even as recently as 1999 when I became a Realtor, listing data was kept in-house, often in notebooks and the only way to get exposure was through signage, open houses, phone calls, flyers, or direct mail (thank goodness technology has evolved!). Because of the establishment of the MLS, smaller brokerages are able to fairly compete with larger brokerages since all homes for sale are listed in one central location. Note, a listing broker must make offers of compensation to all cooperating brokers on the MLS.
Q: What real estate websites will my home be on?
A: Once your home goes on the MLS, the listing will be syndicated and distributed to nearly every local real estate website (such as <a href="https://www.housesincharlotte.com/" target="_blank">ours</a>) as well as popular national portals including realtor dot com, Trulia, and Zillow. So, as long as you list your home with a licensed Realtor (and if you agree to public marketing via your listing agreement), your home will be displayed openly to the public along with every other MLS listing.
Q: Is professional photography important?
A: This is a big YES! With that being said, it's important that your Realtor has a relationship with a great photographer, not just someone with a nice camera. There's no regulation on whether or not someone can call themselves a 'professional photographer' so your Realtor should have a relationship with a proven photographer that understands proper lighting, angles, how to get the right shot, has good editing skills, etc. We've worked with several great ones over the years and only work with the ones that we feel will showcase your home in the best possible light.
Q: What are your thoughts on Open Houses?
A: My answer here may ruffle some feathers but frankly, home buyers are not sitting around waiting for Open Houses in order to find their dream home. Buyers may visit an open house if they come across one or may even seek them out, but open houses are no more effective than sending out flyers for actually getting your home sold. Homebuyers today have access to every home on the market right at their fingertips: smartphones, tablets, and desktop computers or via their buyer's agent. Another thing to note is that some agents like to hold open houses as a tool for attracting new buyer clients or neighbors. The big downside to open houses in my book is that you can have unattended, unqualified strangers walking around your home (and possibly going through your valuables) because the agent on duty can not be with everyone at one time. Open houses can also be a major safety concern for the agent in some cases, especially if they are alone. A "brokers open", on the other hand, makes more sense as it's basically an open house for other real estate brokers. Most of the time your home will sell because it's listed on the MLS and other forms of marketing, not because of an open house.<a id="Showing"></a>
Showing your Home
Q: What steps should I take to get my home ready for upcoming showings?
A: When you have a showing, make sure your home looks clean, neat & decluttered as much as possible. Turn on all of the lights and ceiling fans, open blinds and curtains, and put on some soft music. It's a good idea to remove pet items, make the beds and maybe do a light cleaning. Buyers will often open up your closets, cabinets, pantry & fridge too. Another thing we recommend to our sellers is to lock up or remove any valuables and secure important documents in the home. Although buyers will have their agent with them, they can't always be with them 100% of the time. For those of you with home surveillance equipment like cameras, nanny cams, and Ring doorbells, please make sure you turn OFF the audio before you leave. Sellers are not allowed to listen in on conversations with other parties without their consent.
Q: Should I be present when my home is being shown?
A: My short answer is, No. While you may be one of the nicest, most charming people ever, home buyers and their agents want and need their own private space to freely and openly discuss your home and their feelings. This is another reason we don't allow overlapping showings on our listings. Buyers are making a huge decision and usually only have a short window of time to view your home. It's best to give them their space.
Q: Are the prospective buyers coming through my home pre-approved?
A: No, not all of them. Anyone coming through your home will certainly be accompanied by a licensed real estate agent but there's no guarantee that the agent has a contractual relationship with the buyer yet and there's no guarantee that the buyer has been pre-qualified. However, there's an unwritten expectation that the real estate broker has at least researched the buyer prior to showing the home and performed some type of due diligence on them. As the homeowner, you can most certainly ask your listing agent to require proof of funds or a pre-qualification letter from the buyer's agent upfront, but you may risk losing a legitimate buyer that may have made a last-minute trip to the area, wasn't prepared with proof of financing or didn't fully understand the process.<a id="Commissions"></a>
Real Estate Commissions/Fees
Q: How much do Realtors charge to sell my home?
A: If you're going with a full-service real estate brokerage (which you absolutely should), you can typically expect to pay somewhere in the 5-6% of purchase price range which usually covers the cost of paying both the listing firm and the buyer agent firm. Now, it's important for you to know that there is no standard commission rate or percentage. Real Estate commissions are negotiable from firm to firm and are NOT set industry-wide. With that being said, 5-6% is what I see the most often. You'll want to ask the listing agent what's included in that fee and whether it includes marketing expenses like staging, photography/media, print materials, mailings, video, 3-D floor plans, broker's open events, etc., or just their representation. And please understand that your individual agent is not making the entire commission. Your agent only receives a percentage of the company's commission (the listing contractually belongs to the brokerage, not the agent) and then usually pays for all or most of marketing expenses, taxes, etc. out of their own pocket. In the end, a good agent earns their commission and then some.
Q: Are real estate commissions or fees negotiable?
A: Yes, commissions are negotiable. While any individual firm or Realtor may or may not negotiate what they charge, fees and commissions are negotiable from an industry perspective. Trust me when I tell you that you should focus more on what the listing agent will actually do for you rather than putting all of your emphasis on saving half of a percent or so. A good Realtor is well worth their commission and then some. They are responsible for not only getting your home sold but also creating demand, negotiating the best terms for you, and getting you to the finish line.
Q: How much are the closing costs to sell my home?
A: In addition to the commissions (roughly 5-6% of sales price), you will also pay various fees at closing such as seller-prep/attorney fees, your prorated portion of HOA dues, the HOA closing/release fee, your prorated portion of property taxes and the excise tax. In NC, this excise tax (also known as a transfer tax) is usually paid by the seller in resale transactions and calculated at $1 for every $500 of the sales price. There may also be some additional misc fees charged to you at closing but these are the larger ones. <a id="Choosing"></a>
Choosing a Realtor to Sell Your Home
Q: Should I interview multiple Realtors?
A: You absolutely can and most agents would expect you to do so but it's not necessary, especially if you already have a good relationship with a Realtor you know and trust. See my next answer about what to look for when choosing a listing agent to sell your home. Should you choose to interview one (or more), this would be good information to keep in mind.
Q: What should I look for in a listing agent when choosing one to sell my home?
A: When selling your home in ANY market (buyer's market or a seller's market), you always want to look for an experienced listing agent that understands the current market conditions in your area. They should be able to provide examples of their marketing and explain how they plan to market your home so that it stands out from the competition. Ask what they do to help you prepare your home and ask if they use a stager, professional photographer, or videographer. Do they employ other types of marketing such as drone footage, floorplans, descriptive MLS write-ups, social media advertising, printed brochures, or <a href="http://14524rhodeshall.com/" target="_blank">single property websites</a>? Look for someone that will provide you with a CMA and honestly discuss pricing based on comparable properties. A good agent will be honest with you and will help you price it strategically so that your listing gets the right kind of activity. Be wary of any agent that is willing to overprice your home as they have just proven to not have your best interests in mind. More than likely, they are just trying to "win" your listing. Ask to see their <a href="https://www.housesincharlotte.com/about/realtor-reviews-charlotte-nc/" data-uw-styling-context="true" data-uw-rm-brl="false">reviews and testimonials</a>, talk to them on the phone and in person to go over their process, and discuss your expectations. I wouldn't put too much emphasis on an agent that boasts about their numbers or claims to be a "top producer" as that could also indicate they are too busy to give you the personal service and attention a listing requires. Lastly, I realize commissions are important but that should be one of the last things to consider unless all other things are equal. The right agent will help you achieve better results (including more profit) in the end.
Q: Are all real estate agents the same?
A: Absolutely not and that's important for you to know. Simply having a real estate license does not give agents the skill set necessary to help you achieve the best results when selling your home. Their work ethic, level of experience, amount of effort, understanding of the market and today's consumers, communication style, and marketing expertise can vary immensely. This can easily equate to tens of thousands of dollars difference in your pocket as well as the level of stress that you do (or do not) have during the process.
Q: Will I get better results if I list my home with one of the ‘big’ companies?
A: No. When I became a Realtor in 1999, it helped to be associated with a larger firm (I actually worked with two large, exclusive firms) but the MLS has changed the way consumers shop for homes and has also leveled the playing field so that smaller independent firms (like Hendrix Properties) can market their listings in the same way that larger firms do - and in some cases, do a much better job. In today's digital marketplace, sellers should focus on the individual listing agent's capabilities rather than their company. After all, home buyers aren't looking for homes based on who the listing agent works for. They're looking for homes that suit their best interests, period.
Q: Should I consider one of these ‘Guaranteed’ or ‘We’ll buy it if we can’t sell it’ programs?
A: I would not advise it. Keep in mind that this is just a sales pitch to get into your living room and definitely not geared toward getting the best results for YOU. The way it works is that the company guarantees to buy your home from you if they can't sell it within a certain time period. The catch is they will buy it at a price that is significantly less than the current market value. If you truly want the best results, hire a reputable listing agent that simply works hard for you. No gimmicks are necessary.
Q: What makes Chad Hendrix and Hendrix Properties different from others?
A: At Hendrix Properties, we pride ourselves on being very customer-centric, detail-oriented, and doing what's best for our client's best interests, not our own. Also, we are very hands-on and consider ourselves to be more like project managers than salespeople in the sense that we develop a plan, organize the steps, and then execute with a high degree of success. We know what buyers want, we know where to find them (we get thousands and thousands on our website monthly), and we know how to attract them to your home. We work hard, don't shut off at 5 pm, are easy to reach, and do a good job at setting expectations.
Q: Okay, I am ready to sell. How do I get started?
A: The best way to get started is by filling out the form below and telling us a little about what you're considering doing. From there, we can set up a friendly and casual marketing consultation at your home so that we can get to know you and your home a little better. This is completely confidential and will go directly to Chad Hendrix's inbox. You can expect a reasonably quick reply from there.
[<a href="https://consumer.hifello.com/lp/64ee310945423900253bdba4" target="_blank">Click here for your free Home Value Estimate</a>]
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2021-11-03T08:35:00-07:002023-08-30T06:21:56-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:11992The Most Expensive Homes in Charlotte, NCCharlotte, NC is one of the most beautiful cities in the South and is no wonder, a big melting pot of folks from all over the country that want a taste of what this beautiful city has to offer. And it does have much to offer when it comes to beautiful homes, mansions, and estates. Below, you'll see a list of the most expensive homes in the Charlotte, North Carolina area currently on the market.<br /><br />If you're enjoying viewing some of Charlotte's most expensive homes and want a little more dialed-in information about certain types of living, you might want to view our pages on <a href="https://www.housesincharlotte.com/luxury-homes-in-charlotte-nc/">Luxury Homes in Charlotte</a>, <a href="https://www.housesincharlotte.com/charlotte-golf-communities/">Charlotte Golf Communities</a>, and area <a href="https://www.housesincharlotte.com/waterfront-homes-in-charlotte-nc/">Waterfront Homes</a>. These pages will give you a little more in-depth information on some of Charlotte's most expensive neighborhoods and areas. You can also simply reach out to us for a confidential and productive discussion about your needs.
<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/Chad_Blog_Signature.jpg" width="800" height="143" alt="Chad Hendrix Real Estate Blog" title="Chad Hendrix Real Estate Blog" />2021-10-26T06:39:00-07:002023-05-03T09:07:12-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:7929How the Covid-19 Stay at Home requirements in NC affect your ability to buy or sell a home right now.<img src="https://assets.site-static.com/userfiles/1188/image/Buying_and_Selling_Home_in_NC_Coronavirus_COVID-19.png" width="100%" height="520" alt="Buying or Selling a Home in NC During COVID-19 Coronavirus " title="Buying or Selling a Home in NC During COVID-19 Coronavirus" style="vertical-align: middle;" />
(Update 04/29/20: Mecklenburg County has decided to transition from local to state-mandated stay-at-home orders starting April 30th and remain into effect until May 8th, 2020. Real estate services are now deemed as essential services in Mecklenburg County as long as safety precautions are taken: 6' social distancing, good hand washing hygiene, disinfecting high-touch surfaces, and working remotely as much as possible. Wearing gloves, face coverings or masks, and booties during showings are also highly encouraged).
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(Original Post 04/04/20) I think we can all agree that the Covid-19 pandemic has thrown us all for a loop in more ways than one. Like you, I don't have all the answers but I can at least talk about how the Covid-19 Stay at Home requirements affect your ability to buy or sell a home in NC. There's a lot of confusion right now even among us NC brokers/real estate agents as we try to interpret information but I'll do my best to answer some of your more frequently asked questions. I'll also include links to the source wherever I can. And please know, I'm not an attorney nor do I intend to sound as though I'm interpreting the law...just informing you the best I can.
<br />Also worth noting is that I'll be primarily answering questions as they pertain to Mecklenburg County (Charlotte and suburbs) and the surrounding counties of Cabarrus, Lincoln, Union, Iredell, Gaston. Other parts of the state 'might' have differing rules and SC might as well but I'd imagine that the common theme here is that we need to try and wait this thing out the best we can and keep others and ourselves safe.
Buying a Home during the NC Stay at Home order
Question: Can I browse homes for sale online?
Yes. I thought I'd start out with the easiest question first! You can absolutely view homes online and I'd suggest you start either with our <a href="https://www.housesincharlotte.com/property-search/results/">advanced search</a> or by going to our <a href="https://www.housesincharlotte.com/living-in-charlotte-nc/">Living in Charlotte</a> page which starts to break down some of the areas, each of which have searches set up for the respective pages.
Question: Can I go view/see homes in person?
The short answer is YES. In the state of NC, real estate is considered to be an essential business. With that being the case, real estate agents and consumers are allowed to participate in all aspects of this. Here's an excerpt from <a href="https://files.nc.gov/governor/documents/files/EO121-Stay-at-Home-Order-3.pdf" target="_blank">Roy Cooper's executive order</a>:<br /><br /><img src="https://assets.site-static.com/userfiles/1188/image/screenshot_snippets/outsideofmecklenburg.JPG" width="833" height="400" alt="Covid-19 house hunting restrictions" title="Covid-19 house hunting restrictions" /><br />However, In Mecklenburg County, which has the strictest guidelines and guidelines that supersede the NC mandate, you can ONLY view <a href="https://www.housesincharlotte.com/property-search/results/?searchtype=2&searchid=425790" target="_blank">vacant</a> homes, and even then, only under certain conditions. Those conditions are:
<img src="https://assets.site-static.com/userfiles/1188/image/screenshot_snippets/covid_vacant_home_mecklenburg_county.JPG" width="919" height="217" alt="Mecklenburg County Vacant Home restriction" title="Mecklenburg County Vacant Home restriction" />
To translate, in Mecklenburg County, you need to be in a pretty desperate situation in order to view homes and if so, they can only be vacant. Additionally, you would have to meet the Realtor there (not ride with) and maintain all social distancing requirements.
Question: Can I purchase/contract on a home right now?
Yes, you can purchase a home. If you're outside of Mecklenburg County you can proceed as you normally would while following the covid-19 distancing/safety guidelines. <br />If you're looking to purchase IN Mecklenburg County, it gets a little more strict (see question above). If you're purchasing a vacant home, it's certainly easier. But if the home you're interested in is occupied, you'd be limiting yourself to purchasing sight-unseen which has its own challenges. Purchasing sight-unseen doesn't mean that you can never see the home but you'd have to go under contract on it before being able to view it and by then, you may already have some skin in the game in the form of <a href="https://www.housesincharlotte.com/blog/understanding-due-diligence-and-earnest-money-on-the-nc-offer-to-purchase-and-contract/" target="_blank">due diligence and earnest money </a>that could be at risk. <br /><br />If you're not willing to wait this out, my suggestion would be for you to simply <a href="https://www.housesincharlotte.com/contact/">contact</a> me and let's talk about your needs and situation and we'll go from there.
Question: Am I allowed to go to Open Houses or Model Homes?
In Mecklenburg County, open houses will not be allowed from my interpretation. I can't say that there won't be any but I can't imagine any case where they would be allowed. So, the answer is NO. <br /><br />However, outside of Mecklenburg County, since real estate IS considered an essential business in the surrounding counties and consumers are allowed to participate with essential businesses, you should be able to visit any open houses or model homes that you come across or are open. But, be careful to follow all social distancing guidelines. If you ask me, just stay home.
Question: What if I was already under contract to purchase a home?
If you are purchasing a home outside Mecklenburg County (Cabarrus, Gaston, Lincoln, Iredell and so on), you would proceed as you normally would while maintaining all social distancing guidelines.<br /><br />However, if you're under contract on a home IN Mecklenburg County (taken directly from this <a href="https://www.mecknc.gov/news/Pages/Amendments-to-Stay-at-Home-Order-Regarding-Home-Sales.aspx">Mecklenburg County amendments page</a>):
Allowed with Conditions: Those who have vested money (either by way of earnest money or mortgage loan commitments) which they could wind up losing and closing is imminent or soon to be scheduled, in order to complete the purchase and effect the closing, the following guidance should be used when completing that transaction:<br /><br />Walk-through prior to closing:
No more than three people may be in the residence at any given time. This allows for the realtor and up to two of the buyers.
Each person present must maintain Centers for Disease Control (CDC) compliance at all times in all applicable areas.
Practice social/physical distancing: stay at least six feet apart from other people.
Do not participate if you have any symptoms or fever.
Avoid touching your eyes, nose, and mouth with unwashed hands.
Cover your cough in your sleeve or sneeze with a tissue, then throw the tissue in the trash.
Clean and disinfect any objects or surfaces touched using a regular household cleaning product.
Wash your hands often with soap and water for at least 20 seconds on entering and leaving the dwelling with soap and water or an alcohol-based hand sanitizer that contains 60%-95% alcohol.
The realtor is responsible for supplying cleaning products and hand washing products.
Owners/sellers should not be in the residence at the time if the subject property is owner occupied.
Question: What do I do in the meantime?
If you're thinking of buying, my best suggestion would be to <a href="https://www.housesincharlotte.com/contact/">reach out to me</a> and let's just talk about you and your situation and what you're thinking of doing. The covid-19 pandemic doesn't change the fact that reaching out to me first is always a great first step. There are many ways that I can be of value, from connecting you with a good mortgage lender, helping you narrow your focus in terms of areas or neighborhoods, helping you customize your home search, or just proving to you that you have a reliable source to lean on.
Selling a Home during the NC Stay at Home restrictions
Question: Can I list my home for sale with a Realtor?
If you're living outside of Mecklenburg County, the answer is YES. But, be sure to proceed by following all social distancing guidelines (and your Realtor as well). <br /><br />If you're living IN Mecklenburg County, you can list your home and put it on the <a href="https://www.housesincharlotte.com/property-search/results/">MLS</a> but it will need to be done using your own photos/videos and whatever information you can provide to your Realtor or prospective buyers. Your Realtor cannot come view your home, stagers cannot come out and neither can house measurers or photographers or media people...unless the home is Vacant. Per the Mecklenburg County Guidelines:
"2) Taking Listings when Sellers have a financial need to move and have no option to "stay-in-place" will be done virtually to the extent possible. If there is a need to visit the home to obtain signatures where the Seller does not have access to electronic technology, the agent may drop documents at the home; leave documents in an agreed upon location and leave the property. Once the Seller retrieves the documents and signs them, they can put them back in the agreed upon location and contact the agent to come pick up the document. The agent may also take a photo of the front of the house for use in putting the listing in the MLS.
3) Selling or renting/leasing property to consumers who are or about to be in a position where they have no option to "stay-in-place" specifically:
Sellers who have sold their home and have not bought or rented a home
Individuals and/or families moving to the County for secured employment and have not bought or rented a home
Tenants who are losing their current residence (due to sale of the property or non-renewal of lease) who need an immediate place to live
4) Measurements by measurement service providers may measure vacant property only. Only one measurement provider may be in the home at one time.
5) Photographers and videographers may provide their services in vacant property only. Only one photographer and/or videographer (if they are different) may be in the home at one time.
6) Sellers of occupied homes that do not currently have a virtual tour or photos of their home will need to create their own virtual tours and/or take additional photos.
7) In-person showings of homes for sale or rentals on the market are restricted to vacant property only. When showing vacant property, the agent shall not ride in the same vehicle as the consumer and no more than three people may be in the residence at any given time. This allows for the realtor and up to two of the buyers."
Question: Can I have my home professionally measured and photographed?
No. Not unless your home is vacant. However, you can take your own photographs or measurements and submit electronically to your Realtor who can then use them to market your home. Your Realtor CAN, however, swing by and take a picture of the outside of your home.
Question: What if my home was already under contract before the restrictions?
If your buyer has money vested in the home purchase (due diligence, earnest monies, other fees associated with the purchase of the home), they are allowed to visit the home but are limited to doing so on the final walk through.
Question: What can or should I be doing in the meantime?
If you have not listed your home but have been thinking about it either before or during this crisis, reach out to me. There are various things we can help you with. Here are a few:
We can provide you with a handy checklist of things that inspectors look for so that you can be working on them in preparation of eventually listing your home for sale
We can do a Zoom meeting (video conferencing similar to facetime or others) and give you some staging tips and advice. We also have our award winning home stager on standby to do the same for a small fee but with a much more organized approach.
We can get you set up on a market report for your neighborhood or area so that you can stay on top of what the market is doing around you.
We can simply converse over the phone or via Zoom and go over our <a href="https://www.housesincharlotte.com/blog/list-of-services-provided-to-our-home-sellers/">marketing strategy</a>, talk about YOU, answer any questions you have, etc. <br /><br />Bottom line is this...don't be afraid to reach out. It's never too early and it's never a bad time to connect with me/us. We're truly here to help and want to achieve the best results for YOU.
I hope my question and answer article has answered some of your questions. If you have others, please ask them in the comments section below or contact me directly. I'll answer you back and will likely amend this article as needed as well.<br /><br /><img src="https://assets.site-static.com/userfiles/1188/image/Chad_small.jpg" width="100" height="97" alt="Charlotte Realtor" title="Charlotte Realtor" class="img_box_left" style="float: left;" />Thanks for reading!! I'm Chad Hendrix, owner of Hendrix Properties and you can call/text me at <a href="tel:704-737-4400">704-737-4400</a> or <a href="mailto:chad@hendrixproperties.com?subject=Your coronavirus blog article">Click here to send me an email: chad@hendrixproperties.com</a>2020-04-04T06:28:00-07:002023-09-16T06:12:16-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4254Homeowner Associations (HOAs) Can Be a Good Thing<img src="https://assets.site-static.com/userfiles/1188/image/Thinking_of_buying.png" width="800" height="800" />
Quite often, I have people contact me who are looking to relocate to the Charlotte area. With many of them, one of their main criteria is "I don't want to live in a neighborhood with a home owner's association!" Except in cases where I already know that they have a huge RV to park, have a couple of horses, multiple dogs, weld out of their back yard and need that shop, etc, I always wonder if they're simply misinformed. Who wouldn't like a homeowner's association? Not only do they help to protect the neighborhood's quality of living but they also help to protect the value of your home.
If you were trying to sell your home, how do you think a prospective buyer would feel if they rode up and noticed that your immediate neighbor had 6 cars in their driveway? Or if their door was painted hot pink and shutters were orange? Or maybe they had a car sitting there on cinder blocks? What if they came inside, looked around your home, went out back and noticed that your neighbor had a clothes line in the back yard and grass that was 2 feet high? What impression do you think that prospective buyer would have of your neighborhood as a whole? How will the general public feel about your neighborhood and how will they describe it to others?
It's easy to dislike homeowner associations because in a sense, they tell us what we can and can't do. Nobody likes to be told what to do. I received a friendly letter from my neighborhood HOA a couple of years ago for blowing a little grass out in the street and having some overgrown hedges. Man, was I irked by that! However, they were completely right. My yard was looking terrible at the time and I should have blown the cut grass back into my own yard.
If you're searching for a condo, townhome, or single family with neighborhood amenities, chances are there is a homeowners association to care for the grounds. Your monthly, quarterly or annual fee goes to cover maintenance on the swimming pool, keep the playground safe for your children and freshen up the neighborhood entrance. Fees vary depending on many factors including neighborhood size and the type of amenities available for residents.
<img src="https://assets.site-static.com/userfiles/1188/image/aerial-aerial-shot-architecture-667221.jpg" width="4000" height="2250" />
You've heard the saying, "give 'em an inch and they'll take a mile". Well, HOAs have to set limits and stick by them. Sometimes that makes them the bad guys but these guidelines, also known as covenants, are there to protect us and the homeowner association board members do their best to uphold them. If you ever end up in a neighborhood where the HOA "gives up", you'll be able to see the clear difference. I could take you to many right now and also show you how those home values have trended downwards over the years. The homeowner association is also there to maintain the entrances to the neighborhood and common areas. They're not going to maintain themselves, ya know?
Learn to like your homeowners association and respect what they're there for and don't be afraid to live in a neighborhood with an HOA. They're not there to rule your life, just to make sure you maintain a little uniformity with the other homes. And if you're eyeing a possible neighborhood to move to, ask your Realtor and they should be able to give you a copy of that particular neighborhood's covenants before you make an offer. You are legally entitled to receive this information with an accepted offer on a home.
Keep in mind that breaking HOA rules is more than a 'slap on the wrist.' Your neighborhood HOA can go as far as evicting you from your home for lack of payment or failure to comply with the regulations.2019-09-04T12:59:00-07:002020-12-19T15:07:57-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:6075(Update - SOLD in 3 Days!) Beautiful Home For Sale in the Wedgewood North Community of North Charlotte<img src="https://assets.site-static.com/userfiles/1188/image/8407Pic.jpg" width="1500" height="1000" alt="Wedgewood North Community North Charlotte" style="vertical-align: middle;" />
You've got to see this beautiful home in the popular community of Wedgewood North of North Charlotte. Visit <a href="http://www.8407londonshire.com/" target="_blank">www.8407Londonshire.com</a> for more information or to schedule a showing!
This gorgeous home is located in the sought-after Wedgewood North community of North Charlotte. Beautiful upgrades, fresh neutral paint, lots of natural light, open floorplan, and a peaceful backyard retreat will have you yearning to spend more time at home. You will love the large Master bedroom suite located on the main level. Ensuite bath has a Jacuzzi tub, frameless glass shower, and custom walk-in closet. The bright kitchen boasts granite countertops, eat-in breakfast area, upgraded stainless steel appliances and a computer niche with built-in shelving. The dining room is conveniently located right off the kitchen for easy entertaining and clean up. A pass-through from the kitchen makes it easy to mingle with guests in the 2-story great room. This lovely room also features a vaulted ceiling, wood-burning fireplace and transom windows. Upstairs are two bedrooms that share a private Jack and Jill bath. A large Loft overlooks the great room and could be used as a play area, reading nook or office space. And if you have lots of "stuff", ditch your storage unit and utilize the large walk-in attic space.
Outdoors you'll enjoy relaxing on the stamped concrete patio overlooking beautiful trees and natural landscaping. The expansive rear yard is already fenced in, ready for Fido! This home is situated on one of the BEST lots in the neighborhood and sits directly across from the neighborhood amenities. You'll love everything that WWN has to offer, including pool, tennis courts, playground, sand volleyball court, sidewalks & pet stations. The amazing clubhouse is used for all kinds of community events and also available for rent by the residents. This very active neighborhood also has a swim team, community book club, social parties, holiday parades and much more!
Wedgewood North is located just minutes from I-485, I-77 and Northlake Mall. Lots of shopping and restaurants are close by. You won't find a more convenient area in Charlotte than here because of its central location to Uptown Charlotte, Lake Norman, and Concord. You can get almost anywhere in 15 minutes! Don't miss out on this home.
For more information or to schedule a showing, please contact <a href="https://www.housesincharlotte.com/agents/jennymccarver/" target="_blank">Jenny McCarver</a> at 704-650-6285 or <a href="https://www.housesincharlotte.com/agents/chadhendrix/" target="_blank">Chad Hendrix</a> at 704-737-4400. 2019-07-10T06:00:00-07:002019-10-08T15:05:58-07:00Jenny McCarvertag:housesincharlotte.com,2012-09-20:4746How To Choose The Right Buyer's Agent<img src="https://assets.site-static.com/userfiles/1188/image/BuyersAgentSkills-01.png" width="800" height="420" alt="Buyers Agent" style="vertical-align: middle;" />
When you’re looking to purchase a home in Charlotte the most important thing you need - besides the funds to purchase it, of course! - is a good buyer’s agent. We’ve covered what makes a good buyer’s agent, but now let’s talk about how to choose one. And not just any Charlotte realtor...the right one for your needs.
First of all, what really makes a “good” buyer’s agent? Well, an agent who’s organized and detail oriented can make for the smoothest transaction possible. Someone who’s personable and easy to get along with can make your purchasing process more enjoyable, especially as you’re riding around with them for hours on end looking at homes. An agent with experience can recognize potential problems before they arise and know exactly how to handle them should they come up. And one of the most overlooked factors: an agent that’s readily available at most times of the day provides you with a little more confidence in the process. Real estate is a 24/7 business!<br class="kix-line-break" /><br class="kix-line-break" />Wouldn’t it be great to find a buyer’s agent in Charlotte with ALL of those qualities? Well, here’s how to do it.
Ask around. If you’re buying a house in Charlotte, ask your friends or co-workers who are homeowners which broker they used and what they thought of their experience. Do they feel that he/she was attentive to their needs, available when they needed them, and walked them through the <a href="https://www.housesincharlotte.com/blog/seven-steps-to-buying-a-home-in-charlotte-nc/" target="_blank">home buying process</a>?. And specifically, would they recommend them to you?
Search online for a local agent. Get a feel for their website. Is it professional? Does it offer <a href="https://www.housesincharlotte.com/communities/" target="_blank">helpful resources about your local real estate market</a>? If a broker doesn’t pay much attention to their own site, you have to wonder whether they’ll pay attention to your home search.
Contact a few agents. As you’re browsing for Charlotte area homes online, don’t be afraid to reach out to agents and chat with them. Tell them what you’re looking for and ask them about the area. It’s a great way to see what kind of rapport you have and whether or not they sound like someone you’d trust to spend time with. When you’re ready, you can also let them show you a home or two so you can meet them face to face.
<br class="kix-line-break" />It’s critical you trust your agent to act as your fiduciary and be your biggest proponent. After all, that’s what they’re there for! A good buyer’s agent in Charlotte will make you feel listened to, important, and they’ll never make you feel like you’re being “sold.”
<br />If you’d like to speak to one of our top-notch buyer’s agents, call us at 704.737.4400, <a href="https://www.housesincharlotte.com/contact/" target="_blank">send us a quick email</a>, or <a href="https://www.housesincharlotte.com/about" target="_blank">explore our agent directory</a> and contact one of our proven Charlotte area Realtors directly. We’re all very excited for the opportunity to help you and earn your trust!
2019-04-02T06:52:00-07:002020-07-02T05:28:25-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4745Do Home Buyers Pay Realtor Fees?<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/customerkeys.jpg" width="800" height="420" alt="ClientKeys" style="vertical-align: middle;" />
The answer, quite simply, is NO. There is no charge to a buyer to have a Realtor on their side. In a nutshell, <a href="https://www.housesincharlotte.com/blog/what-is-a-buyers-agent-and-why-do-i-need-one/" target="_blank">buyer’s agents</a> are paid by the seller. When a homeowner decides to sell their home, the listing company they choose will charge them a fee, usually a percentage, that is due when the home sells. In return, the listing company will advertise on the MLS that they are offering a percentage of their fee to whoever ultimately brings the buyer. For example, if the listing company’s fee is 6%, they may offer to give half their fee, or 3% of the total selling price, to whoever brings forth a buyer. So, as long as the home you ultimately purchase was listed by a real estate company that offered buyer agents a certain commission, your buyer’s agent will be paid via the seller and their listing company.<br class="kix-line-break" /><br class="kix-line-break" />What if there was no commission offered to the buyer’s agent? What about “for sale by owner” situations in which a seller tries to avoid paying out commissions? Well, while quite rare, these can arise. In that case, a buyer’s agent still needs to get paid for their hard work, right? One option for the buyer is to negotiate his/her commission into the price of the home. For instance, let’s say you fall in love with a For Sale By Owner home with no commissions offered. If the agreed-upon purchase price is $100,000 and your buyer agency agreement states that your agent is to be paid 3% of the gross purchase price, you could pay the seller $103,000, and the seller could then pay the agent their $3,000 commission netting the seller the same $100,000 they had agreed to. Just make sure that by doing so, you’re not raising the home price past what it will appraise for.<br class="kix-line-break" /><br class="kix-line-break" />For a more detailed explanation of how Realtor commissions work, feel free to check <a href="https://www.housesincharlotte.com/blog/how-do-real-estate-agents-get-paid/" target="_blank">our helpful piece on how real estate agents get paid</a>.
No matter the situation, a good buyer's agent is well worth their commission, so don’t be hesitant about reaching out to one of <a href="https://www.housesincharlotte.com/about" target="_blank">our Charlotte buyer’s agents</a> to get started. Or, if you’d like to read what others have said about us first, <a href="https://www.housesincharlotte.com/about/testimonials/">check out our testimonials here.</a>2019-04-02T06:26:00-07:002023-09-27T09:20:50-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4578What Is A Buyer's Agent and Why Do I Need One? <img src="https://assets.site-static.com/userfiles/1188/image/BuyersAgent.jpg" width="800" height="420" alt="Buyer's Agent Charlotte NC" style="vertical-align: middle;" />
Do you need a buyer’s agent? Of course, you do! Here’s why.
What is a buyer’s agent?
A buyer’s agent is a licensed Realtor who works on behalf of the buyer through the process of purchasing a home. The fiduciary relationship between the two parties is established when the buyer and agent both sign a “Buyer Agency Agreement,” which goes into detail about the buyer’s agent’s duties to you, how they’ll get paid, the duration of the contract, and what their role will be throughout the process.
What is a buyer’s agent good for?
A buyer’s agent wears a lot of hats. They walk you through the process from day one, which is particularly important if you’re a first-time buyer. From there, they’ll bring you up-to-date listings that match your specific criteria (and no, you can’t always find them on your own using Zillow or Trulia.) They’ll negotiate with the seller on your behalf and help you figure out ways around sticky issues with the contract, costs, or closing dates. A buyer’s agent is your ally, and their duty is only to you.
What does a buyer’s agent actually do?
Some of the most important duties of a good buyer’s agent include:
Learning your needs in a home
Guiding you through the complex <a href="https://www.housesincharlotte.com/blog/seven-steps-to-buying-a-home-in-charlotte-nc/" target="_blank">home-buying process</a>
Advocating for your best interests along the way
Educating you on current market conditions
Showing you the pros and cons of various areas or neighborhoods
Evaluating comparable properties to help you decide a property’s worth
Negotiating favorable contract terms for you
Connecting you with professionals such as attorneys, inspectors, etc.
Preparing written contracts and other addendums
Scheduling and managing inspections, surveys, closing, and other important milestones
Attending closing with you to ensure everything goes as planned
<br />How do buyer’s agents get paid?
That’s the best part! It typically costs buyers nothing to use a buyer’s agent. Under the currently accepted broker arrangement in nearly every U.S. city, buyer’s agents are actually paid by the seller. Say your buyer’s agent charges a 3% commission fee for their service; at closing, the seller will pay their own agent’s fee out of the proceeds, then also pay the buyer’s agent, too. For buyers, there is no financial downside to using a buyer’s agent whatsoever.
An interesting note: twenty years ago, there was no such thing as a buyer’s agent! At the time, there were only listing agents who represented the seller. If you were interested in a home, you’d call the listing agent directly and navigate the buying process with no one specifically looking out for your best interests. Imagine that! Thankfully, today’s buyers have a better advocate available.2019-03-01T09:49:00-07:002023-04-08T05:28:10-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4352Charming Home For Sale in Springfield, Fort Mill SC<img src="https://assets.site-static.com/userfiles/1188/image/Blog_Graphics/JustListed_1823ShadowLawnCt-01Front_1_1.jpg" width="800" height="420" alt="1823 Shadow Lawn, Springfield Fort Mill" title="1823 Shadow Lawn, Springfield Fort Mill" style="vertical-align: middle;" />
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We just love our latest listing located in the popular Springfield Golf Community of Fort Mill, SC. 1823 Shadow Lawn Court is situated on a quaint street and just a short walk from the neighborhood playground. The rocking chair front porch welcomes you inside this spacious, 5 bedroom and 3 1/2 bath home.
<br />With over 3050 square feet, you won't be lacking for space. Open concept design allows the gourmet kitchen to be the central hub. There's also a formal dining room and Flex room (which can be used as extra Living space or a Home Office), located off the foyer to allow for a little more privacy. The sleeping quarters are located upstairs and include a well-appointed master suite, 3 bedrooms, and a large bonus room or 5th bedroom with walk-in closet and full 3rd bath. The morning sunrises can be enjoyed from the screened rear porch or cozy up by the fire on your custom paver patio with built-in seating. This home sits on almost a third of an acre so there's lots of room to play and enjoy your yard.<br /><br />Springfield boasts spectacular amenities including multiple pools, tennis courts, a clubhouse, fitness center, playground and of course, the <a href="https://www.playspringfield.com/" title="Springfield Golf Club Fort Mill SC" target="_blank">Springfield Golf Club</a>. This championship 18 hole course is situated on a beautiful treelined and picturesque terrain. One of the best features of Springfield is its proximity to the <a href="https://www.ascgreenway.org/" title="Anne Springs Close Greenway" target="_blank">Anne Springs Close Greenway</a> across the street. This 2100 acre nature preserve allows for hiking, mountain biking, kayaking, picnics, horseback riding and more! <br /><br />If you're thinking about selling your home in the Charlotte, Lake Norman or Fort Mill area, <a href="https://www.housesincharlotte.com/contact/" target="_blank">contact</a> me today. <br /><br />2019-01-25T07:32:00-07:002019-08-15T04:32:20-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4184Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/1188/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is Spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move to consider your home and sell for more money than you would have in the spring.2018-12-16T09:30:00-07:002019-02-11T14:50:11-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4182Will Increasing Mortgage Rates Impact Home Prices?<img src="https://assets.site-static.com/userfiles/1188/image/mortgage-rate-projections.jpg" alt="Will Increasing Mortgage Rates Impact Home Prices? " title="Will Increasing Mortgage Rates Impact Home Prices? " height="410" width="750" />
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
Bottom Line
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.2018-12-16T09:30:00-07:002019-02-11T14:47:50-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4446Why Don't More Charlotte Homes Have Basements?<img src="https://assets.site-static.com/userfiles/1188/image/Basement.jpg" width="800" height="420" alt="Basement Updated" style="vertical-align: middle;" />
Well, that's a pretty good question, actually.
According to the US Census Bureau around 795,000 new homes were built in the U.S. in 2017 and of those, about 204,000 had partial or full basements. That's a lot! If you've spent any time in the Charlotte area (or anywhere in the South) you've probably noticed that not many homes have basements. Why is that?
There are a couple of reasons. <br />The first and most overarching is the frost line. The frost line, or the depth to which the ground freezes during a hard frost, is important for home builders to know because a foundation built above the frost line can move, break, and become unstable as the ground expands and contracts. Local regulations always require footings of a new home to be built below the frost line for a specific area: In Mecklenburg County, the frost line is 6" and footings must extend 4" below that. So what does that have to do with basements?
In the north, the frost line is much deeper, sometimes up to 6 or 8 feet, not inches! Since builders already have to dig to these depths to legally put down footers it makes sense to go a few feet deeper and build out a basement which ads livable square footage to a home. In the South, basements simply cost more to build than they do in colder climates.
Another factor for basement builders is the water table. Adding a basement to a home within an area with a low water table sets it up for constant flooding and moisture problems. It makes much more sense to build a basement into dry, solid soil. Southern cities like Charlotte generally lie lower than many other areas although of course, underground water issues vary from house to house.
Lastly, if a house sits on bedrock rather than soil or clay it becomes prohibitively expensive to add a basement. At that point not only does a dig have to occur, but the operation also becomes an excavation. And bedrock is one of the most stable foundations you could hope to build a home on to boot!
All that being said, there are plenty of <a href="https://www.housesincharlotte.com/basement-homes-charlotte-nc/">Charlotte homes with basements for sale</a>. They're certainly not impossible here, they're just less common than in some other parts of the country. If you've got questions about basements, crawlspaces, or any other new home feature simply give us a call!
In the meantime, browse the following list of basement homes for sale in Charlotte:
2018-09-30T12:57:00-07:002020-12-19T15:06:48-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4588Eight Real Estate Myths Debunked<img src="https://assets.site-static.com/userfiles/1188/image/eight_real_estate_myths_debunked.png" width="800" height="420" alt="8 Real Estate Myths Debunked" style="vertical-align: middle;" />
If you are in the market to sell or buy a property, you may have some incorrect misconceptions. We decided to debunk some real estate myths that may be impacting your search. Consider these as guidelines for buying and selling.
Myth One: Listing your home for more than what you expect to receive will net you the price you want.
This is often considered "room to negotiate". But it’s a mistake you don’t want to make. Listing too high may actually net you a lower price. Why? Because buyers and agents often won’t even look at homes priced about market value. You always have the option to reduce the price after a few weeks, but that’s not a situation you want to be caught in. A price reduction can signal to buyers that there are problems. Even in a low inventory market that we are currently experiencing, you are more likely to get multiple offers if your property is priced at value or below.
Myth Two: You can get a better deal as a buyer without working with an agent.
This is completely false. If the house is listed for sale with an agent, the total sales commission is built into the price. If a seller doesn’t have an agent then the seller’s agent receives the entire commission. Read more on <a href="https://www.housesincharlotte.com/blog/what-is-a-buyers-agent-and-why-do-i-need-one/" target="_blank">why you should work with a buyer’s agent</a>.
Myth Three: You can save money selling your home as for sale by owner.
Some sellers may be able to successfully sell their home on their own; however, they need the skills to get it listed online, market it, negotiate and deal with any challenges related to the inspection or financing. Is that a job you’re willing to take on? You may also find that buyers will expect a discount if no agent is involved. There are many reasons not to venture into For Sale by Owner territory. You won’t be able to list on the MLS, and you’ll spend lots of time and effort going through hoops. Here’s some more on <a href="https://www.housesincharlotte.com/blog/how-to-choose-the-right-listing-agent/" target="_blank">reasons not to go it alone when listing your property</a>.
Myth Four: The market only goes up.
Yes, we’re in a good market right now. In the last 12 months, the average selling price in the Charlotte Metro area was up $21,000. But that doesn’t mean your property value will keep climbing. Economist Robert Shiller created an inflation-adjusted index for home prices dating to 1890 and found that home prices have fallen a number of times over the years, including in the early 1990s, the early 1980s and the mid-1970s.
Myth Five: You must renovate your kitchen and bathrooms before you list.
It’s been said that kitchens and bathrooms sell houses. But, not everyone is going to have your taste. If your kitchen and bathroom work and function then a big remodel could flop. If your kitchen and bathrooms are dated then consider this in the listing price. Most buyers would rather create their own dream kitchen and bathrooms than have yours.
Myth Six: You’ll earn back all your renovation investments.
This myth is perpetuated by HGTV shows like “Love It or List It” where homeowners are handed a magic valuation at the end of the show, which calculates the new higher value of their property after renovations. If you need a new HVAC or roof then making these renovations could help your property sell quicker but not necessarily for more.
In the 2017 Cost vs. Value Report by Remodeling Magazine, they found that projects involving remodeling something to make it better has an average payback of 63.7 percent. Whereas, projects that include a complete replacement provide a 74 percent return.
Myth Seven: A home doesn’t need to be prepared to sell.
This can be a costly misconception. Properly preparing a home for sale can be the difference between it selling quickly or sitting on the market. So why is preparation important? It’s how your home is introduced to the market. You’ll want to stage it and have it professionally photographed. These are critical steps shown to increase the final price. If you prepare your home for sale then it should sell quickly and not linger on the market. Even the most beautiful, high-end homes still benefit from staging and professional photos. Staging and photos create an experience for your prospective buyer to see themselves living in the home. They don’t want to see your home; they want to envision their life in the space.
Myth Eight: Swimming pools add value to your property.
While pools are quite an investment and certainly provide homeowners with a great amenity, the reality is they don’t really add value to a home. Many buyers will automatically discount a property with a pool because of the danger, upkeep expense, and insurance costs.
An in-ground pool can cost from $30,000 to more than $100,000 to install in addition to yearly maintenance expenses. That's a significant amount of money that might never be recouped. If you are considering a pool then just know that it may be something you and your family will enjoy, but that it probably won’t add value to your property.
We hope you enjoyed this blog and learned something relating to real estate myths. 2017-08-27T14:45:00-07:002020-08-27T05:11:04-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4587Selling Your Charlotte Condo for More<img src="https://assets.site-static.com/userfiles/1188/image/SellingYourCharlotteConodForMore-01.png" width="800" height="420" alt="Selling Your Charlotte Condo For More " style="vertical-align: middle;" />
How to Make Your Unit Stand Out
If you're considering selling your Charlotte <a href="https://www.housesincharlotte.com/charlotte-condos-townhomes-for-sale/" target="_blank">condo or townhome</a>, you may find it hard to differentiate your property. Most units within a neighborhood have the same layout. The only difference may be the size and number of bedrooms and bathrooms. The amenities, location, and exterior are all the same. So what will make your unit stand out? How can you get the best price?
Function
Most condos and townhomes aren’t spacious. But there are different elements you can add to maximize functionality. These elements can also add design and style. This can make all the difference in selling your Charlotte condo or townhome.
Barn doors are very popular right now. They are a great blend of function and style. Use a barn door for a bathroom that it’s already a bit tight. That way you don’t have to worry about the inswing or outswing of the door. They are also great for dividing rooms. Use them to hide storage, shelving, or laundry.
With easy to use hardware, it’s certainly possible to install them on your own. And with many different door styles to choose from, you have a range of options from contemporary to farmhouse. <a href="http://www.homedit.com/cool-interior-sliding-barn-doors/">Check out these ideas from HomedIt.</a>
Another way to maximize function is to make use of dead space. Dead space is usually taken up by items that can’t be moved because they are working parts of a home. Think water heaters, HVAC, or other equipment.
A condo we looked at recently had a hot water heater in the corner of a kitchen. This was consistent in every unit. Moving the hot water heater would have been costly. It was once covered by old cabinets. The homeowners removed most of the cabinets in the kitchen to make it bigger and more functional. They built a custom “island” in the corner to conceal the hot water heater. They turned the space into a working area of the kitchen and also added a design feature unique to their unit.
<img src="https://www.housesincharlotte.com/uploads/agent-1/SellYourCondo_ExtraImage-01.png" alt="sell-condo-charlotte" width="700" height="449" />
Optimize space
As mentioned before, space is an issue in condos and townhomes. You want everything to look bigger. Even if every unit is the same square footage, it still helps if your property appears bigger.
Back to the condo referenced earlier. As we mentioned, they did some major work to improve the kitchen’s appearance. They installed open shelving to replace the old, bulky cabinets. This provided the illusion of a larger room, while also presenting a contemporary vibe. <a href="http://www.decoist.com/kitchens-open-shelving-ideas/">Decoist offers unique ideas for modern open shelving.</a>
Keep it simple
Don’t overdesign your condo or townhome. You have only so much space so it’s not necessary to include everything you’ve ever seen on HGTV. Keeping it simple doesn’t mean you should pick the cheapest, most standard tile for your bathroom or backsplash. Because you have smaller areas to tile, you can spend a few more dollars. Subway tile will always be in style. It’s never going to look dated. White subway tile with gray grout is timeless, simple, and looks great.
Other factors
Low inventory can also be a major factor in the sale price. If there is little inventory in your area for condos or townhomes, you may benefit from being in a seller’s market. However, don’t count on this to yield you more money than what the property is actually worth and what buyers are willing to pay. It still has to appraise for that value for a buyer to secure a mortgage.
If you want to differentiate your condo or townhome, then you literally must think outside of the “box” of your unit. If there are several units for sale in your neighborhood, you’ll want yours to be at the top of buyer’s lists. These are just a few ideas from our own experiences. If you’d like more ideas on selling your Charlotte condo or townhome, <a href="https://www.housesincharlotte.com/contact/" target="_blank">talk to Hendrix Properties</a> about how we create the best seller experience.2017-08-20T14:31:00-07:002023-08-06T04:41:10-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4586Real Estate Fiduciary Duties<img src="https://assets.site-static.com/userfiles/1188/image/HowYourAgentShouldWorkForYou-01.png" width="800" height="420" alt="Real Estate Fiduciary Duties " style="vertical-align: middle;" />
When you enter into an agreement with a real estate agent, the agent becomes a fiduciary. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. Real estate fiduciary duties, in simple terms, define how an agent should work on the behalf of a client.
The <a href="https://www.nar.realtor/sites/default/files/handouts-and-brochures/2014/nar-fiduciary-duty-032213.pdf">National Association of Realtors (NAR) identifies six main duties of a real estate fiduciary</a>:
Loyalty
Confidentiality
Disclosure
Obedience
Accounting
Reasonable care
Loyalty
This simply means that an agent should always be working for your best interests, not anyone else’s or their own. This also means avoiding any conflicts of interest. An agent’s duty of loyalty prohibits him or her from accepting employment from any person whose interests compete with or are adverse to, yours as the buyer or seller. An example would be for an agent to purchase a property listed with his or her company then immediately sell it for a profit.
Confidentiality
It’s imperative for an agent to keep a client’s information confidential. The information that should be kept confidential would include anything that might impact your bargaining position. An example would be disclosing to a buyer that a seller, represented by that agent, needs to sell quickly. This, however, does not include an agent disclosing material facts concerning the condition of a property. To do so would constitute a misrepresentation and would impose liability on both the agent and the seller.
Disclosure
An agent is obligated to disclose to his principal all relevant and material information that the agent knows and that pertains to the scope of the agency. Material facts are those that if known by the seller or buyer may have caused them to change their minds.
Obedience
Your agent must obey your instructions. These instructions must, of course, be legal and in accordance with your contract.
Accounting
Your agent must account for all documents and funds related to the transaction. There must be reporting of all the pertinent documents and financials.
Reasonable Care
The phrase is open to interpretation; most often being defined in a courtroom. The NAR describes it as a “duty to use his superior skill and knowledge while pursuing his principal’s affairs. This duty includes an obligation to affirmatively discover facts relating to his principal’s affairs that a reasonable and prudent real estate broker would be expected to investigate.” It's akin to the professionalism expected by patients of doctors or clients of attorneys.
Do agents ever fail in their fiduciary duty? Unfortunately, yes. Not living up to these duties can cause lots of problems for all parties. As an agent, it's important to hold oneself accountable and focus on the best interests of clients.
Many breaches of fiduciary duty can occur around full disclosure. And it's not limited to the property itself. A client shared a story about her first home purchase and the breach that occurred. The situation revolved around the state DOT planning to expand a road near the townhome the individual purchased. The DOT did not have imminent plans to begin the road work, but this part was disclosed. What wasn’t disclosed was that many of the units within the neighborhood had already been purchased by the DOT. This meant that when she was ready to sell years later, the property value had decreased. The listing was less desirable. Had she known the DOT already owned many of the units, she would have decided not to purchase.
Stories like these are probably too common. Trust is an important part of the agent-client relationship. That's why we work so hard to do everything right. If you’d like to learn more about how we will work for you, <a href="https://www.housesincharlotte.com/contact/" target="_blank">send us a note</a>.2017-08-09T14:28:00-07:002019-03-01T15:31:17-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4584Charlotte's 4 Most Bike-Friendly Neighborhoods<img src="https://assets.site-static.com/userfiles/1188/image/Bicycle.jpg" width="800" height="420" alt="Cycling in Charlotte NC" style="vertical-align: middle;" />
Charlotte isn't exactly known for being a biker's paradise, but we're working on it.
The city has made huge strides in the last few years to become <a href="http://bikecharlotte.org/" target="_blank">more bike-friendly</a>, from community events to better bike lanes to a popular <a href="https://charlotte.bcycle.com/" target="_blank">city-wide bike-sharing system</a>. Whether you like to bike to work, ride the trails, or cycle for exercise, there's a bike-friendly neighborhood in Charlotte that will work for you.
Where are Charlotte's most bike-friendly neighborhoods? Consider these six' hoods if you're looking for a house that can serve as your launching point for some serious bike adventures. You might be surprised.
1. Plaza Midwood
Plaza Midwood has a lot of superlatives: The "trendiest," the "foodiest," and the "coolest" neighborhood in Charlotte, depending on who you ask. It's definitely the most bike-friendly neighborhood in Charlotte, however. Coming of age as a working-class streetcar suburb, PM was always set up for bike transportation. You'll find wide streets, plenty of long bike lanes, and many stop signs here. Nearly every business in the hood also honors the <a href="http://bb2.bicyclebenefits.org/" target="_blank">Bike Benefits</a> program which can save you money, too!
2. Davidson
Davidson is its own city, and it's far enough from Charlotte that you can't exactly bike a commute into Uptown. But if you work in Davidson or simply like to bike in your spare time, it's an affordable bike-friendly neighborhood in the Charlotte area. Adorable downtown Davidson has lots of bike lanes, and drivers are very respectful. The <a href="http://www.ci.davidson.nc.us/DocumentCenter/View/4184" target="_blank">Davidson Greenway </a>covers 6 miles of ground (through downtown), covering a nature preserve and a biker's hill known as "the Wall." It's a great place to bike as a family, too.
3. Myers Park/Dilworth
There's a reason they call it the "<a href="https://www.google.com/maps/d/u/0/viewer?mid=1dloJ8WJnhukGrN2bnZSEYrfQfLY&hl=en&ll=35.18892436077439%2C-80.83383700000002&z=15" target="_blank">booty loop!</a>" Myers Park and Dilworth - two distinct neighborhoods in their own right - are ground zero for biking in Charlotte. Yes, they're a little hilly but they're also shaded and dotted with wide streets; cars here move slower, too, because of the residential nature of the communities. The areas are also home to the most popular part of <a href="https://www.carolinathreadtrailmap.org/trails/trail/little-sugar-creek-brandywine-to-7th" target="_blank">Little Sugar Creek Greenway</a> which itself pops out in Freedom Park. Whether you're a weekend biker or want to commute to Uptown, this is your spot.<br /><br />
4. South End
The best part about biking in South End? You don't have to do it on South Blvd! Development in the 'hood over the last few years has made South Boulevard relatively unsafe for bicyclists. Instead, ride your bike on the still-growing <a href="https://charlottenc.gov/planning/urbandesign/Pages/Rail-Trail.aspx" target="_blank">Charlotte Rail Trail </a>path that goes along the light rail tracks. You can even take your bike onto the LYNX light rail to get all the way into Uptown or farther down into South Charlotte! Don't forget to stop for a beer at one of the neighborhoods' many <a href="https://www.beeradvocate.com/place/city/58/" target="_blank">bike-friendly breweries</a>.
<br />There are plenty of 'micro neighborhoods' in Charlotte that are excellent for biking. Seversville, Belmont, Cherry, and Commonwealth come to mind. If you just want to bike around the neighborhood, there's a <a href="https://www.housesincharlotte.com/property-search/search-form/" target="_blank">home for sale in Charlotte</a> you can make work.
What didn't make our list? You may have been surprised not to find Uptown and its various Wards on the list, but we think traffic in Center City is just too dangerous to be considered particularly "bike friendly." Communities like <a href="https://www.housesincharlotte.com/Mooresville/" target="_blank">Mooresville</a>, <a href="https://www.housesincharlotte.com/south-charlotte/ballantyne/" target="_blank">Ballantyne</a>, and <a href="https://www.housesincharlotte.com/waxhaw/" target="_blank">Waxhaw</a> are gorgeous, yes, but a little too spread out to make biking there anything but a leisure activity. If you're looking to actually accomplish errands on your bike, you'll have to be closer to a densely-populated area.2017-06-28T14:08:00-07:002023-09-16T06:16:40-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4583Everything You Need to Know About HOAs<img src="https://assets.site-static.com/userfiles/1188/image/HOA1.png" width="800" height="420" alt="Charlotte NC HOA" style="vertical-align: middle;" />
HOAs are an increasingly common fact of real estate.
HOA stands for “Home Owner's Association.” The term is often used as shorthand to describe the monthly/annual dues paid to said association (i.e. “The HOAs at this place are high!”) Many developments in and around Charlotte are HOA-governed.
What are HOAs, Exactly?
Great question! HOAs are usually formed when a developer builds a <a href="https://www.housesincharlotte.com/charlotte/">multi-family residential property neighborhood</a>. This kind of "property" can manifest in several ways: A condo building; a townhome complex; and even a planned neighborhood of single family homes. The Home Owner’s Association (specifically, the HOA bylaws, a lengthy set of provisions for the community) provides structure to the community, outlining rules and regulations as well as a financial strategy for maintaining common spaces like pools and even roads. Typically, a development company will retain control over a community’s maintenance and management until enough units/homes are sold and then transfer control to the HOA.
<img src="https://www.housesincharlotte.com/uploads/agent-1/WhatDoHOAsDo_HPBlog-01.png" alt="" width="750" height="272" />
What Do HOAs Do?
They do a lot of things, all (ideally) in the <a href="https://www.housesincharlotte.com/blog/homeowner-associations-hoas-can-be-a-good-thing.html" target="_blank">best interest of the greater community</a> good.
CC&Rs: This stands for “<a href="http://www.hgtv.com/design/real-estate/what-you-need-to-know-about-hoas" target="_blank">Covenants, Conditions, and Restrictions.</a>” It’s a set of rules enforced by the HOA that govern the community. They can dictate everything from the paint color on your home’s exterior to your ability to renovate. They can even specify whether you can park an RV in your driveway or how many pets you can own in your property.
HOA Budget: The budget, funded by your HOA dues (more on that in a minute), is designed to cover everything commonly used by the community. If you live in a multi-family building, things like utility bills for the hallways, elevator service, and landscaping might be covered by dues. If you live in neighborhood or townhome community, your dues might cover a security gate, a resident-only pool, or dog clean-up stations. All this is outline in the HOA’s bylaws.
HOA Board: All HOAs are governed by an elected board. The bylaws dictate how and when elections take place, but the board is ultimately responsible for making decisions for the future of the HOA. The board likely has its own private meetings outside of regular community-wide meetings. Unpaid board members, almost always residents of the community themselves, do the legwork of sourcing new vendors (i.e. a new maintenance staff), budgeting for the current year and the future, and enforcing community rules (like evictions, notices, and warnings.) The board has no legal power over residents in a community, but when residents defy the rules they can be taken to court or evicted.
<img src="https://www.housesincharlotte.com/uploads/agent-1/HOACost-01.png" alt="" width="750" height="272" />
What About Those Dues?
Dues make or break a successful HOA. The amount you might pay towards dues – typically monthly – varies widely. In a <a href="https://www.housesincharlotte.com/charlotte-condos-townhomes-for-sale/" target="_blank">Charlotte townhome complex</a>, for example, your dues might be $348 a month. In a Manhattan high rise, your dues could be $1,440 a month! It all depends on the building and needs of the community. Your dues cover all current maintenance and, crucially, contribute to a rainy-day fund known as “reserves.”
Reserves are literally reserved money. In many cases, HOAs will hire an outside accountant to perform a “reserve study” to determine exactly how much money should be in the fund to cover all feasible repairs for decades to come. The reserve fund likely has several hundred of thousand or even millions of dollars in it at any given time.
When you buy in an HOA development, you’ll ask what the dues are currently. It’s impossible to know if the dues will go up in the near future, but there are a few red flags to look for. For example, if the reserve fund is low (ask!) and a major repair is needed, owners might face an unexpected “special assessment” of hundreds or even thousands of dollars. If there are a lot of vacant or unsold units in the development, ask whether those units are still funding their dues. Over time, nearly all HOA dues will go up to keep up with inflation.
<img src="https://www.housesincharlotte.com/uploads/agent-1/WhyBuyinHOA_HPBlog-01.png" alt="" width="750" height="272" />
Why Buy in an HOA?
For most people, HOAs are a blessing and a curse. The rules and regulations surrounding them can protect homeowners from noisy neighbors or giant McMansion additions, but they can also feel restrictive. While dues are often a tough pill to swallow on top of a mortgage (in most cases, they’re rolled into the mortgage), they provide for common amenities like fire pits, covered parking, and pools that many homeowners wouldn’t be able to afford on their own.
It’s important when buying in an HOA community to know exactly what you’re getting yourself into. <a href="https://www.housesincharlotte.com/about/" target="_blank">Your realtor</a> should ask the seller’s agent for the management company’s information; from there, you can obtain a copy of the CC&Rs to read, hopefully find out more about reserves and dues, and even learn whether the HOA is involved in a lawsuit or if there are any pending assessments being levied on residents.
2017-06-06T13:39:00-07:002021-01-01T10:26:35-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4580Understanding Due Diligence and Earnest Money on the NC Offer to Purchase and Contract<img src="https://assets.site-static.com/userfiles/1188/image/UnderstandingDDandEM_NC-01.png" width="800" height="420" alt="Due Diligence & Earnest Money in NC" style="vertical-align: middle;" />
A no-nonsense review of due diligence and earnest money in the NC Offer to Purchase and Contract
In 2011, the <a href="https://www.ncrec.gov/" target="_blank">North Carolina Real Estate Commission</a> introduced a revised Offer to Purchase and Contract (always seeking to protect consumers) and with that, a new term called "due diligence." Well, change doesn't come easy, and this new concept and contract came with its own challenges for many NC Realtors either. However, once you understand it, it's pretty cool and is definitely designed to protect both real estate buyers and sellers.
Prior to 2011, "earnest money" was the only money that was paid upfront.
Earnest money was put in place primarily to show "earnestness" from the buyer and as a way to compensate the seller for their lost time and opportunities (from other prospective buyers) if the buyer "flaked out." As long as everything went fine and the deal went to closing, the earnest money would be credited back to the buyer at closing and everyone was happy. However, things don't always go smoothly. Buyers and sellers were sometimes left out in the cold. Let me explain...
See, the earnest money would be returned to the buyers if their financing fell through for any reason. This could be due to the loss of their job or many other reasons related to their debt to income ratios changing, or even a mistake by their lender.
Now, this is where the big problems came for the sellers. Their home had been off the market (while under contract) for three weeks to a couple of months waiting for this deal to close. Then at the last minute, the buyer's financing fell through, and the seller would be left standing there with nothing to show but hardship, lost time, lost opportunities, etc. And the buyer would be on their way with their earnest money in hand. You can probably imagine how devastating this could be to sellers.
On the flip side, sellers were not the only ones that could be hurt.
Buyers could also get their earnest money back if inspections had been done (the buyer's cost) with requests for repairs, and those requests were not met. Great for the buyer, right? Well, not exactly. See, while the buyer had a right to back out of the contract AND get their earnest money back, they were still left with lost time and the cost of the inspection ($550+). Additional costs may have also been incurred with a lender-ordered appraisal ($350+), survey ($500+), or any other arrangements or incurred costs. The buyer could "stick in there" and continue on, but they're left with one or more things that will eventually have to be fixed on their dime.
Well, to help remedy these situations and others, the NC Real Estate Commission developed a revised Offer to Purchase and Contract in 2011. The new offer still implemented earnest money but also introduced a "due diligence fee" and "due diligence period."
The due diligence fee is the amount paid by the buyer directly to the seller, which the seller deposits and keeps.
If the deal closes, the buyer will have that amount credited back to them at closing. But either way, that amount upfront is the seller's to keep. In addition to the due diligence fee, there is an agreed-upon due diligence period. The DD fee allows the buyer to conduct "due diligence" at the buyer's expense (inspections, appraisals, review of documents, survey, financing, obtaining insurance, etc) within the due diligence period and gives them the right to back out for any reason. The kicker is that, if they're going to back out of the contract for whatever reason, they need to do so prior to the end of the due diligence period. Otherwise, they will not only have lost their due diligence fee but also their earnest money that was put up (and held in escrow). This is because, with the new contract, there is no longer a financing contingency. If the buyer backs out prior to the end of the DD date, they will at least get their earnest money back.
With the new contract, the buyer is given more freedom, and the seller is protected from being left empty-handed at the last minute if financing falls through.
Strategies for dealing with and negotiating the due diligence and earnest money amount
As a NC/SC buyers agent
When representing the buyer(s), I want the DD fee and earnest money amount to be as low as possible without insulting the seller or giving the appearance that we're wasting people's time. The lower the amounts, the lower the risk of loss for my buyer. In addition, I want the DD period to be extended out as far as possible. The longer the period, the longer my buyer has to do his/her due diligence and feel comfortable that everything will be just fine with their loan, etc.
What if inspections are done, and my buyer is responsible for the cost of those inspections then the seller says, "I'm not fixing anything so you can just take your earnest money and go"? Well, because of this, I DON'T always order inspections right away. I might have inspections scheduled two to three weeks out. Then if the seller refuses to fix one or more things, at least they've got a few weeks invested with their home being off the market and might be more inclined to work with the buyer to resolve the repair issues. In addition, this gives my buyer more buffer room to get comfortable that his/her financing will be secured. Hopefully, they have a really good idea of the likelihood of their financing going through prior to having inspections, appraisals, and surveys ordered. If that's the case, then they've only really lost the due diligence fee.
It's very important to ALWAYS keep track of this DD date (I put it in my calendar with reminder notifications). If more time is needed, go back and try to negotiate a date extension with the seller (they'll usually work with you if you've been proactive) PRIOR to the DD date ending. If you don't then you can risk the earnest money as well.
Also, please note, prior to ever even submitting the initial offer for my buyer, I've already asked the listing agent many questions and probed the best I can. I try to find out the seller's motivation for selling so I can determine how eager they are. I also inquire whether the seller will be prepared for the repair requests that will likely be coming their way. I do my own due diligence so to speak.
As the listing agent
When representing the seller, I want the DD fee and earnest money amount to be as high as possible. This says to me that the buyer HAS some cash, is serious (earnest) about making this work, and is willing to risk higher amounts. And of course, if something does happen, my seller will be compensated just a little bit better. Also, I want the due diligence period to be as short as possible. A shortened DD period gives me confidence in the buyer's willingness and abilities to make things happen. It shortens the length of time that my seller's home is off the market should the deal fall apart.
Please note, the greater the amount of the DD fee, the longer the due diligence period my seller might entertain. The smaller the amount of the DD fee, the quicker my seller will want to see the buyer conducting their due diligence.
Hopefully, this provides clarity on the subjects of due diligence and earnest money. I know that it can feel complicated and sometimes not fair depending on what side of the transaction you're on but it makes a lot of sense if you can get to that point where it's a win-win. If you have any questions, ask your Realtor. If you're not satisfied with what they're telling you, you may then reach out to their broker in charge. If you're not satisfied there, you can always try the NC Real Estate Commission but it should never really get this far. Just make sure you understand all the terms going on. I wish you the best!!
(Update: As of December, 14th, 2020), this entire article still applies exactly as it did when originally written. - Chad H) 2017-05-20T10:24:00-07:002021-11-08T06:52:35-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4581An A to Z Guide for Getting a Mortgage in Charlotte<img src="https://assets.site-static.com/userfiles/1188/image/Mortgage.png" width="800" height="420" alt="Getting A Mortgage in Charlotte " style="vertical-align: middle;" />
Buying a house is complicated enough. The mortgage process only makes things harder.
We help dozens of clients navigate the complexities of buying a home in Charlotte on an annual basis; mortgages are usually the most treacherous part. The mortgage process is most likely to hold up - and even sink - an eventual sale.
Are you <a href="https://www.housesincharlotte.com/blog/seven-steps-to-buying-a-home-in-charlotte-nc/" target="_blank">buying your first home in Charlotte</a>? Or maybe you're back on the market again? Here's a quick primer on the steps behind getting a mortgage in Charlotte, from pre-approval to closing fees.
Choosing a Lender
Let's start with some facts: Charlotte's real estate market is white-hot which means you've got more competition from other homebuyers than you've had in years. For that reason, most sellers prefer to see a pre-approval letter along with your offer, especially in cases of <a href="https://www.housesincharlotte.com/blog/how-to-win-in-a-multiple-offer-situation-when-buying-a-home/" target="_blank">multiple bids</a>.
The first step in the mortgage process, then, is choosing a lender. This can feel overwhelming! <a href="https://www.housesincharlotte.com/blog/what-is-a-buyers-agent-and-why-do-i-need-one/" target="_blank">Talk to your Realtor</a> about whether they work with any preferred lenders. If not, you've got a couple of options: Traditional big-bank lenders (think: Bank of America), smaller boutique lenders (sometimes local, some national), and other (wholesale lenders, etc.) Remember, there is a difference between a Mortgage Lender and a Mortgage Broker. The company that actually makes the loan is the Mortgage Lender while someone who works in a "middleman" capacity to find you the best loan rates and specifications is a Mortgage Broker. If you're totally new to the game, a mortgage broker might be a good place to start to get a sense of your options. It's always a good idea to talk to multiple lenders before you decide which to use. Factors to consider:
Interest Rates: These can vary dramatically from lender to lender; sometimes smaller lenders offer more competitive rates to compete against big retail lenders.
"Programs": This is what mortgage lenders call the various types of loans they provide. There are dozens out there including FHA loans, VA loans, ARMs, and more.
Closing Schedule: Lenders will typically be able to tell you how quickly they can help you close. In a hot market like Charlotte, speed is of the essence for many sellers.
Pre-Qualification/Pre-Approval
There's a huge difference between being pre-qualified (good, but not official) vs. being pre-approved (all but official). When a seller sees that you're pre-approved for a certain amount they can feel good that your loan will come through. This can be a definite plus in a hot seller's market. If you know you want to buy a home sometime in the near future, go ahead and get a pre-qualification letter from your lender to get started. If you know you want to buy a house (or even a specific house), tell them you want to start the pre-approval process.
Pre-approval requires a lot of documentation from you. Everything from your credit history to previous loans to your employment status is subject to review, and the more complicated your finances, the more complicated your pre-approval process. Your lender can walk you through exactly what they'll need from you during the process. Once you're pre-approved, you'll receive an official "Pre-Approval Letter" you can share with sellers.
Application & Loan Estimate
Once your offer is accepted by a seller you can officially put in an application for a loan. If you've already been pre-approved, this process shouldn't be that complicated. Once your application is processed and the lender decides to offer you a loan, they'll present you with what's called a Loan Estimate. By law, lenders have to provide you with this 3-page document within three days of your application (if accepted) and it will outline the explicit terms of the loan, from the interest rate to a breakdown of your closing costs. If you accept the Loan Estimate, your loan application moves on to the processing phase where more information is collected by the lender. This process generally takes anywhere from two weeks to two months; it's important that you/your Realtor stay in constant contact with the lender's representative to monitor the progress and ensure the loan is on track to be issued by your set closing date.
What takes place during processing?
A full credit check is performed on you and/or your spouse or co-signers
Any remaining documentation is collected including tax docs, salary information, bank statements, and more
The lender hires an independent/in-house appraiser to do an appraisal of the property you intend to purchase. If the house "appraises" for less than the amount you plan to pay for it, you may not receive the full amount of the loan requested
Closing
Hopefully, you'll get news at least a few days before closing is scheduled from your lender that everything is approved. Congratulations! You've been issued a mortgage. All relevant files will be transferred from your lender to the closing attorney's office and you'll find out exactly how much money you need to bring to closing with you. The document that outlines all the final closing costs is called the Closing Disclosure. At closing, you'll bring a cashier's check, several forms of ID, and check all loan documents carefully. Then you'll sign about 100 documents! Plan to stay for a couple of hours.
Now you own a house! Technically, your lender owns the house and you're making payments towards the property, eventually owning it outright once you pay your mortgage off. It's an exciting - if not draining - process. The good news is, Charlotte has many excellent boutique mortgage lenders and several large retail mortgage lenders, too. 2017-05-11T10:31:00-07:002023-04-14T05:22:14-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4577Do I Need an Agent if I'm Buying a New Construction Home from a Builder?<img src="https://assets.site-static.com/userfiles/1188/image/Model_home_open.jpg" width="800" height="420" alt="New Construction Charlotte NC Agent" style="vertical-align: middle;" />
About 10% of all homes sold in the U.S. are new construction.
We've all seen them: The big roadside billboards touting "From the high 300s!" and "Move in for only $1,500!" with balloons and a banner telling you the model is open. Here in the Charlotte market, they're on the rise. Builders are racing to keep up with the demand for new, tricked-out homes all over our area, from Ballantyne to Davidson and beyond.
<a href="https://www.housesincharlotte.com/new-construction-homes-in-charlotte-north-carolina/" target="_blank">New construction</a> has a lot of advantages. It's more predictable, has longer warranties, and doesn't come with some of the logistical hurdles of owner-to-owner home sales. But all too often, clients come to us scrambling to find an agent to represent their best interests when they're way too far down the rabbit hole already.
So, do you need an agent if you're buying a new construction home from a builder?
Why People Decide NOT to Use a Buyer's Agent for New Construction
One of the most common reasons people decide not to use an agent when buying new construction is a foundational misunderstanding of how buyer's agents are paid. Remember, when you're the buyer, you don't pay your agent anything! The seller pays the buyer's agent's fee, and that's true even if the seller is a new construction builder.
Some people think they can negotiate for a better deal with the builder if they aren't using an agent...after all, that's less money the builder has to pay to Realtors, right? For the most part, this is a non-starter. Reputable builders love working with buyer's agents because they help transactions close smoothly and professionally. They want to keep the real estate community on their team, so they will rarely offer any kind of "deal" to buyers just because they don't have an agent.
Unfortunately, when you don't have a buyer's agent, you're only shortchanging yourself.
Why Do You Need an Agent to Buy From a Builder?
For the same<a href="https://www.housesincharlotte.com/blog/what-is-a-buyers-agent-and-why-do-i-need-one/" target="_blank"> reasons you need a buyer's agent </a>at any other time! A buyer's agent is there to work on your behalf which means different things in different transactions. When buying a new construction home there will probably be more time spent ironing out paperwork and financing and build deadlines than working with an inspector or an architect, but it's time spent nonetheless.
As a buyer, you need someone on your team. A buyer's agent helps you determine the fair market value for the home you're buying and holds the builder's feet to the fire when they get behind schedule or try not to "include" something that was specified in your contract. They'll also do all the same things they do in a regular transaction like help you obtain financing, attend clthe osing with you, and even help get your current home sold in the meantime.
Best of all, having a Realtor by your side can help you get a better deal, even from a builder. New construction <a href="http://www.inman.com/2015/04/10/save-big-on-new-construction-secrets-your-buyers-should-know/" target="_blank">builders don't like to reduce the listing price</a> on a home because it can impact future sales...a buyer's agent can help you find other ways to save like asking for closing costs or having a bunch of upgrades thrown in. Working directly with a builder can feel intimidating for many buyers; having an agent will help.
When to Involve Your Buyer's Agent
If you remember one thing from this article, make sure it's this: Bring your buyer's agent to the new construction home site every single time. Most importantly, the FIRST time! If you're a potential home buyer driving around and you see a sign for a great new neighborhood ("Model Home Open Today!"), call your agent! If you walk into that model home and shake hands with the builder's representative without your buyer's agent present you've already lost your chance to be represented. You can still work with a buyer's agent, of course, but you'll have to pay their fee yourself.
Wouldn't you rather have the builder pay it for you?
Hendrix Properties has represented dozens of <a href="https://www.housesincharlotte.com/about/testimonials/" target="_blank">home buyers in Charlotte</a> purchasing new construction. Give us a call before you're ready to start looking!2017-04-20T08:02:00-07:002020-07-02T05:25:34-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4569What to Know About Owning a Home With a Pool<img src="https://assets.site-static.com/userfiles/1188/image/Pools.png" width="800" height="420" alt="Owning a Home With a Pool NC" style="vertical-align: middle;" />
Did you know there are over 10,000,000 swimming pools in the U.S.?
Pools are one of the most requested <a href="https://www.housesincharlotte.com/luxury-homes-in-charlotte-nc/" target="_blank">luxury items</a> by homebuyers, and here in Charlotte, pools are hot. Of course, many of the area’s planned neighborhoods offer community pools to residents, and plenty of the city’s <a href="https://www.housesincharlotte.com/charlotte-condos-townhomes-for-sale/" target="_blank">apartment, condo, and townhome complexes</a> have pools.
Pools can be a wonderful thing! They’re great fun for kids and have a tendency to bring neighbors together. But before you jump to make an offer on a <a href="https://www.housesincharlotte.com/homes-with-pools-in-charlotte-nc/" target="_blank">house with a pool in Charlotte </a>(or anywhere!), you should consider a few things.
The Cost of a Home Pool
Home pools can be a liability. That’s not to say they’re not worth it, but they can be expensive in more ways than one. For example, most insurance companies <a href="https://www.allstate.com/tools-and-resources/home-insurance/swimming-pool-insurance.aspx">recommend</a> you up your liability coverage by as much as $200,000-$400,000 if you have a pool which can raise your premiums substantially. Property insurance should also cover your pool in case it’s damaged in a storm or other natural disaster.
It’s important to think about personal liability when it comes to a home pool; they’re statistically very dangerous. For example, a personal umbrella liability policy might be worth the money if you plan to allow neighborhood kids and your children’s friends to swim in your pool. Many insurance companies require that you build a four-foot fence around the perimeter of your pool to maintain coverage.
And remember, pools don’t maintain themselves. You’ve got to regularly service, clean, and treat your pool, even if it’s saltwater. The average cost for pool chemicals per month is nearly $90. Be sure that investment is worth it! Analysts say the average American pool owner spends over $1,000 an hour enjoying their pool because they use it infrequently.
Can You Build a Pool?
Want to build your own pool? Before buying a house with a backyard big enough for a pool or investing in one at your place, know the basics. The average cost to build an in-ground pool is over $21,000, and that doesn’t include maintenance. Here are the <a href="http://www.bhg.com/home-improvement/outdoor/pools-spas/types-of-pools/" target="_blank">basic in-ground pool types</a>.
Fiberglass Pools: Made by a manufacturer and come in one piece. Flexible and cost-effective.
Concrete Pools: The most sturdy but most costly to build. It can be customized to any shape or size.
Lap Pools/Spa Pools: Long and thin, usually made of concrete, taking up minimal room.
Saltwater Pools: Expensive to build, but maintenance is less costly and avoids excessive chemicals.
It’s also imperative that you know the restrictions! If you live in a neighborhood governed by an HOA, you may have to approve your pool build, or you may not be allowed to build one. You might also find restrictions on the shape or size of your pool and directives on whether or not it can be above-ground. There might be noise restrictions in your neighborhood that prevent you from using your pool whenever you want.
City Restrictions for Residential Pools
The city/county you live in probably has a pretty robust set of regulations regarding building pools, too. You can’t just dig a hole in the backyard and fill it with water. For example, Charlotte Mecklenburg requires you to build a fence around your pool with an alarm. There are also restrictions on things like drain covers, outlet systems, and even how wastewater from the pool is handled. It can be complicated!
In Charlotte, residential pools must:
Receive a building permit and plumbing permit
Submit an application to the Mecklenburg County Health Department
Be surrounded by a fence at least 48” above grade and that raises no more than 2” off the ground
Comply with the water circulation requirements of Section AG 106 of the NC Residential Code
Be treated or drained at the end of the season to prevent unsanitary conditions from forming
Are you looking at <a href="https://www.housesincharlotte.com/homes-with-pools-in-charlotte-nc/" target="_blank">houses with pools in Charlotte</a>? We get it...pools are great! We've worked with a lot of pool-friendly buyers over the years so we've got experience navigating the complex issues these home features can present.<br /><br />Here is an updated list of Charlotte homes with pools for sale in case you'd like to browse:2017-04-06T09:16:00-07:002023-09-16T06:26:27-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4567Charlotte's Best Parks for Kids<img src="https://assets.site-static.com/userfiles/1188/image/affection-bike-child-1128318.jpg" width="800" height="420" alt="Charlotte Parks" style="vertical-align: middle;" />
Charlotte is a city of parks.
The Mecklenburg County park system actually manages over <a href="https://www.mecknc.gov/ParkandRec/Pages/Home.aspx" target="_blank">21,000 acres</a> of land including more than 210 separate parks. That's a lot of green space! It makes sense, then, that Charlotte is also a city of families. The <a href="http://www.bestplaces.net/people/city/north_carolina/charlotte" target="_blank">average household size</a> in Charlotte is 2.55 people, and nearly a quarter of the city's residents have kids.
So which of Charlotte's many parks are best for kids? These parks are your best bets both for kid-friendly fun and family-friendly accommodations.
Freedom Park (Charlotte)
You can't mention family parks in Charlotte without talking about Freedom. It's the "Central Park" of the Queen City and on any given day it's full of kids. With several different playgrounds (including one "Panther Zone" that puts little ones through the NFL paces!) and dozens of fields, a huge lake, and tennis courts, Freedom has it all.
Crooked Creek Park (Indian Trail)
This is one of the only parks in the Charlotte area with a spacespecifically designed for special needs children. In addition to the "Miracle Field," it's also got a fallen-tree structure, tons of bike trails, and a huge treehouse play structure. Oh, and did we mention it has a zipline?
Chantilly Neighborhood Park (Charlotte)
If you live in the historic neighborhoods of Plaza Midwood, Chantilly, or Elizabeth, you already know about Chantilly Park; it's one of Charlotte's best kept secrets. There are two huge playgrounds flanked by large, shade-providing pine trees as well as walking trails and plenty of green space. And benches! Lots of benches.
Latta Park (Charlotte)
This park is located smack in the middle of Charlotte's gorgeous Dilworth neighborhood and has something all kids love: a splash pad! It's also got two separate playgrounds, basketball courts, and is located in a natural trench so your kids can't 'escape.' It's a picturesque urban playground.
William R. Davie Park (Charlotte)
Offering over 107 acres of open space, William R. Davie actually has 4 separate playgrounds, each for a different age group. If your kids get tired of playgrounds there are also horseshoe pits, a dog park, a pond, and plenty of bathrooms for the parents. There's also plenty of shade for those long, hot Charlotte summers.
Reedy Creek Park (Charlotte)
Reedy Creek is maybe one of the best thought-out parks for children in all of Charlotte. With over 100 acres of play space (including multiple playgrounds) as well as a whole host of educational nature programming, this is a park both kids and adults can enjoy. Here you'll find tree houses, exhibits, walking trails, and pretty much anything else your kids would want to enjoy outdoors.
Charlotte is an outdoor city. Families here get outside as often as possible and the Char-Meck parks department helps make it possible. It's just one of the reasons Charlotte is such a family-friendly place!2017-02-22T10:04:00-07:002020-07-02T05:24:50-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4566What to Know About Owning a Historical Home in Charlotte<img src="https://assets.site-static.com/userfiles/1188/image/Dilworth_neighborhood_Charlotte1.jpg" width="800" height="420" alt="Dilworth Charlotte NC" style="vertical-align: middle;" />
The United States is a relatively young country, but as one of the original 13 colonies, North Carolina is home to some of the “oldest” places in America.
Here in the Charlotte area, homeowners are often running into unplanned issues with historical designations, preservation regulations, and local laws. It can be hard to know the difference between a “historical landmark” and just an old house – we’re going to break down the basics for you so you know where to start.
If you’re buying in some of the more historic parts of Charlotte – Dilworth, Myer’s Park, Plaza Midwood – you definitely need to know what you’re walking into as you search. Historical homes can be beautiful, but they can also come with a lot of strings attached!
The National Register of Historic Places
The <a href="https://www.gsa.gov/real-estate/historic-preservation/historic-building-stewardship/national-register-of-historic-places">NRHP</a> acts as the umbrella organization for all things “historical” in the United States. The NC arm of the organization is known as the <a href="https://www.ncdcr.gov/state-historic-preservation-office">NC State Historic Preservation Office</a> and is responsible for setting state-specific regulations.
Overall, the National Register of Historic Places includes over 85,000 buildings, structures, sites, and districts, about 3,000 of which are here in NC. Of those, about 500 are “historic districts” which are broad swaths of land that include everything from properties to commercial buildings. Wilmore, for example, is one of <a href="http://charlottenc.gov/planning/HistoricDistricts/Pages/Home.aspx">Charlotte’s historic districts</a> – further designated as such on a local level by the City Council.
The Power of Designation
So here’s the rub. The National Register of Historic Places works hand-in-hand with local governments to designate and regulate historical districts, landmarks, and buildings. Broadly, the NRHP makes recommendations to local governments about what should be controlled and protected, but it’s up the city to enforce preservation laws.
Most of Charlotte designated historical sites have already been named so. Of course, a city can ask the NRHP to designate a new landmark, district, or building, but it’s hard to do so once it’s already full of property owners who object. If your home sits inside a designated Historical District but is NOT a protected landmark individually, the interior of it is yours to do with as you wish. The exterior, though, is often where homeowners run into issues when they decide to add a garage, paint the house a new color, or update the windows, for example.
But That Sounds Like a Hassle!
Well, yes, it kind of is. If your house sits inside a historical district you’ll likely have to get permission from the <a href="http://landmarkscommission.org/">Charlotte-Mecklenburg Historic Landmarks Commission</a> to make any substantial changes to the outside of it, or “material alterations,” as they’re called. As long as your changes fit within the historical character of the house (i.e. if you’re not trying to paint your craftsman neon yellow), you likely won’t run into any huge problems, but it all depends on the specific person(s) who are reviewing your request.
The real constraint is time, since the commission only meets every month or so to review applications. This can make a renovation feel like it’s dragging on forever. Some more minor changes (fence repair, gutter replacement) can be approved by administrators as quickly as five business days while others (home additions, new garage door) must be set forth toward the board. If deemed acceptable, your change will be awarded with a “Certificate of Appropriateness” and can move forward.
The Plus Side to Owning a Historical Home
The good news is that some renovations, including those that essentially just “fix” what’s broken about an existing home, don’t have to be approved at all. Here is a <a href="http://landmarkscommission.org/designated-historic-landmarks/">really, really great document from the City of Charlotte</a> about the approval process, design considerations, and specifics to area homes.
But! There’s an upside! Although it can be a hassle to change a historical property, you can rest assured the character of your house and in fact, your neighborhood if you live inside a historical district, will stay intact. The designation will be considered during public planning (i.e. you won’t get a new highway running through your front yard) and you might even get up to a 30% tax credit on your property taxes!
What Should I Do Now?
If you want to see if your house or the house you’re considering buying has been designated as a landmark in Charlotte, <a href="http://landmarkscommission.org/designated-historic-landmarks/">use this list</a>. Be sure to talk to your Realtor about what the designation – either of the home or its neighborhood – means for your ownership of the home. There are plenty of companies working in Charlotte that specifically deal with renovating historic properties, so they’re also a good place to turn for guidance on cost, timelines, and ability.
Want to talk more about buying or owning a historical home in Charlotte? There are a lot of things to consider, so it may take a little time to research. Give Chad Hendrix a call today to dig up the information you need in order to make an informed purchasing decision. It’s worth the time.2017-02-14T09:48:00-07:002020-07-02T05:31:02-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4565What to do NOW to Prepare Your Home for a Sale LATER<img src="https://assets.site-static.com/userfiles/1188/image/PrepareNow_SellLater_HendrixProperites-01.png" width="800" height="420" alt="Prepare Home For Sale NC" style="vertical-align: middle;" />
Spring is on the horizon which means you're about to see a lot more For Sale signs popping up.
Spring is, historically, the most prolific selling season for homeowners, and homes tend to sell even quicker than normal once the temp heats back up and the flowers are out. Maybe you've been thinking of downsizing or maybe you've decided it's time to capitalize on Charlotte's historically low inventory, but if you're going to sell, you need to prepare now.
Want to <a href="https://www.housesincharlotte.com/blog/how-the-charlotte-home-selling-process-works/" target="_blank">put your house on the market</a> in a few weeks or months? Here's what you should be doing to get ready.
<img src="https://www.housesincharlotte.com/uploads/agent-1/InterviewAgents-01.png" alt="" width="750" height="267" />
Start Interviewing Realtors
No, seriously. Even if you won't be ready to list your house for half a year, choosing the right seller's agent is the single most important decision you'll make throughout the process. Now's the time to start asking friends and family for recommendations, then setting up meet-and-greets with the Realtors who strike your interest. Check out their websites, look at some of their current marketing, and take note of how well they treat you now. If you can't get a Realtor to call you back or set up plans before they get the listing, you might be even MORE disappointed once you're on the market! Here's a good list of <a href="https://www.housesincharlotte.com/blog/10-signs-youve-chosen-a-great-listing-agent/" target="_blank">things to look for when choosing a seller's agent</a>.
<img src="https://www.housesincharlotte.com/uploads/agent-1/Preinspection-01.png" alt="" width="750" height="267" />
Get an Inspection
Getting your home pre-inspected is a smart move if you hope to have a seamless sale (and who doesn't?) Hiring an inspector to show you what buyers will see is invaluable; it's better to know now if your roof is leaking than to be hit with a $5,000 reduction ask once you've got a buyer on the line. Your Realtor can help you determine which items on the repair list are must-dos and which are just nice-to-dos. Better to <a href="https://www.housesincharlotte.com/blog/13-very-important-things-to-know-before-listing-your-home-for-sale" target="_blank">hit the market with your house in tip-top shape</a> than to give buyers things to pick at.
<img src="https://www.housesincharlotte.com/uploads/agent-1/Declutter-01.png" alt="" width="750" height="267" />
Go Ahead and De-Clutter
You're going to have to do it anyway when you move! Why not take the initiative to clean out your house - your closets, the kitchen cabinets, the garage - and get rid of or donate what you don't want. Not only will you make it easier to perform necessary repairs or to stage your property properly, you'll make the house look more spacious by moving out stuff. You always want your home to be as de-personalized as possible. This provides you the added benefit of having less to pack, too, once you eventually schedule your move!
<img src="https://www.housesincharlotte.com/uploads/agent-1/HitTheMarket-01.png" alt="" width="750" height="267" />
Prepare to Hit the Market Hard
In this market, the first few weeks are critical to getting your home sold, and maybe even inciting a bidding war! There's a lot of planning that should take place before you go live on the MLS. Work with your Realtor to come up with the absolute best price for your home; too much and your home will linger on the market, too little and buyers will wonder what's wrong with it (and you'll lose out on money!) Discuss a comprehensive marketing plan for your house: Professional photos, a digital video, social media posts, and open houses if they're something you want. Those first few weeks your house is on the market should run like a well-oiled machine.<br /><br />
So, how early should you start preparing if you're thinking of selling your house this year? We suggest starting the thought process around 4-6 months before you actually want to hit the market, but as little is two months is enough to really set your home heads above the rest. The most important thing is to give yourself time to make smart, informed decisions about the professionals you work with and the way you want your house to be marketed.2017-02-08T09:30:00-07:002019-02-28T09:47:45-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:45635 Towns Near Charlotte that Still Have a 'Main Street' Vibe<img src="https://assets.site-static.com/userfiles/1188/image/MainStreet.jpg" width="800" height="420" alt="Main Street NC" style="vertical-align: middle;" />
Just outside of the thriving metropolis of Charlotte, "main street" still exists. Many of Charlotte's best suburbs are actually best-kept secrets, offering a glimpse of simpler days and southern charm. We love strolling the wide sidewalks of our favorite downtown havens, ice cream in hand, smiling at passersby and soaking one of the best parts of living in Charlotte.
Want to live in an area that still has that "Main Street" vibe? These five towns near Charlotte offer the best of both worlds.
1. Davidson, NC
We've <a href="https://www.housesincharlotte.com/blog/8-things-you-didnt-know-about-davidson-nc/" target="_blank">written before</a> about why Davidson is one of the fastest-growing areas in the Charlotte metro. <a href="https://www.visitlakenorman.org/listing/downtown-davidson/1734/" target="_blank">Downtown Davidson</a> is literally the picture-perfect version of southern Main Street, lined with antique stores, clothing shops, and even a venerable "restaurant row" that's home to Kindred, one of the most touted eateries in the state. Adjacent to the gorgeous grounds of historical Davidson College, the downtown area is actually paved mostly with bricks, and exceptionally clean. Every year visitors and locals alike <a href="http://www.ci.davidson.nc.us/693/Town-Events" target="_blank">enjoy</a> May Day, Movies on the Green, and a glittering "Christmas in Davidson" festival.
Best of all, it's actually surprisingly easy to find <a href="https://www.housesincharlotte.com/davidson/" target="_blank">homes for sale in Davidson</a> within walking distance of downtown. The surrounding streets are lined with historic homes ranging from brick colonials to single-story craftsmans. Between the college and the quaintness, though, Davidson's stock is on the rise, so it won't be affordable here for long.
2. Matthews, NC
Matthews has one of the most vibrant downtown communities of any area near Charlotte. From its weekly year-round farmer's market to a dizzying array of retail establishments, restaurants (including local Charlotte chains like Thai Taste and Dilworth Coffee!) and small businesses. Main Street is adjacent to <a href="https://www.facebook.com/pages/Stumptown-Park/429981607145331" target="_blank">Stumptown Park</a>, a cute little slice of greenery that's host to events like movies on the lawn and various festivals throughout the year. And who can forget about <a href="https://www.facebook.com/MatthewsFoodTruckFridays/?hc_ref=SEARCH" target="_blank">Food Truck Fridays</a>!?
Thanks to its proximity to both Charlotte proper and south CLT neighborhoods like <a href="https://www.housesincharlotte.com/south-charlotte/ballantyne/" target="_blank">Ballantyne</a>, Matthews has actually become one of the most popular commuter "suburbs" in the state. Still, part of the CMS school system and home to juggernauts Family Dollar and Harris Teeter, the city is a smart choice for professionals and families alike. <a href="https://www.housesincharlotte.com/matthews/" target="_blank">Homes for sale in Matthews</a> range from two-story brick traditionals to new construction to ranch-style, and more.
3. Fort Mill, SC
Fort Mill has it all! No, really. The township of <a href="http://fortmillsc.gov/index.asp?SEC=F13B2B44-D121-4B1B-9C0D-5787B1C02256&Type=GALLERY" target="_blank">Fort Mill</a>, just over the South Carolina line from Charlotte, is an absolute boom town. Thankfully, despite the rapid development of the once-farmland surrounding this community, it's <a href="http://www.visitrockhillsc.com/locations/main-street-fort-mill-sc/" target="_blank">quaint downtown</a> has stayed largely intact, and even been improved. Main Street in downtown Fort Mill is still the heart of the city, and it shows. Some of the buildings in downtown date back to the late 1800s, including large mill buildings that were used for textiles in years past.
There's a <a href="http://www.bizjournals.com/charlotte/news/2016/09/13/main-street-fort-mill-gets-makeover-chance-for-a.html" target="_blank">major redevelopment surge</a> coming for Fort Mill's downtown. Although at times, it's Main Street may still feel a bit quiet, new projects in the works (including a brewery) are poised to once again make it a hang-out spot for residents and visitors alike. For a bargain, downtown <a href="https://www.housesincharlotte.com/Fort-Mill/" target="_blank">Fort Mill homes for sale</a> offer a lot to think about; live, work, play in every sense of the word!
4. Mooresville, NC
<a href="http://www.downtownmooresville.com/" target="_blank">Mooresville's downtown area</a> is so popular it's even got its own slogan, "It's Happening Downtown!" Once just a train depot, downtown Mooresville today presents a Norman Rockwell example of "Main Street," from the painted old-timey advertisements on brick buildings to the gourmet restaurants, watering holes, and unique shops. The city has really gone above and beyond to make sure downtown Mooresville is a destination in and of itself, even championing seasonal events like food truck gatherings, farmer's markets, and special events like Trick-Or-Treating.
Looking for <a href="https://www.housesincharlotte.com/Mooresville/" target="_blank">homes for sale in Mooresville</a>? Most people here want proximity to downtown, if not lake access. Why? Because downtown is home to the "life" of the city; nearly any evening you'll find <a href="https://www.charlotteagenda.com/49323/things-to-do-in-mooresville-nc/" target="_blank">Mooresville's Main Street buzzing</a> with diners, families, and strollers (the walking kind AND the baby-holding kind!) just out and about. It's that kind of place.
5. Belmont, NC
Belmont, located just to the west of Charlotte, feels like a step back in time. A major municipal effort was made beginning in 2013 to connect the commercial district of east Belmont to downtown's Main Street. As part of the "<a href="http://www.cityofbelmont.org/269/Historic-Downtown" target="_blank">Main Street Program</a>," downtown is continually being revitalized to attract pedestrians and shoppers to the area's many stores, restaurants, and shops.
Settled all the way back in the 1750s, <a href="https://www.housesincharlotte.com/belmont/" target="_blank">houses for sale in Belmont</a>, as well as downtown itself, have a lot of rich history. Just a few miles from the beautiful Belmont Abbey College, downtown teems with locals and students alike. There are actually a <a href="https://cityofbelmont.org/433/Special-Events" target="_blank">variety of events</a> held in and around downtown each year including the Belmont Boo Fest, a downtown Christmas Village, and even a Summer Concert Series on Friday nights!
Ahhhh, Main Street. Who doesn't sometimes wish we could all harken back to the days of Mayberry when everything seemed so...simple? The good news is, the Charlotte area has all that, plus the amenities of a world-class city, too.
Interested in one of these downtown areas? We hear you. <a href="https://www.housesincharlotte.com/contact/" target="_blank">Give our team a call!</a>2017-01-19T09:07:00-07:002020-07-02T05:19:48-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4540What is a 'Mixed-Use' Development (and Why Does Charlotte Love Them?)<img src="https://assets.site-static.com/userfiles/1188/image/waverly_charlotte_2.jpg" width="800" height="420" alt="Waverly Charlotte NC" style="vertical-align: middle;" />
It's one of the terms du jour in real estate right now: <br />Mixed-Use Development.
You have seen it abbreviated as "MUD" and you've almost certainly seen it mentioned in the news or in your local neighborhood meeting. But what does it mean, and why do there seem to be so many popping up in Charlotte?
Birkdale Village, one of the most popular Mixed-Use Developments in the Charlotte area
In short, a Mixed-Use Development is a feature of urban development that blends commercial, residential, social, and sometimes industrial uses into one congruent area. They're generally defined as being more pedestrian-friendly than other car heavy parts of town, and the most common iteration you see nowadays is a large commercial shopping promenade topped with residential, multi-family housing (think: <a href="https://www.housesincharlotte.com/huntersville-nc-homes-for-sale/birkdale-village/" target="_blank">Birkdale Village</a>.)
It's important to remember that there is no unilateral definition for the term. A MUD property in Minnesota might have different parameters and requirements under zoning laws that one here in North Carolina. And in some cases, neighborhood and city restrictions can also impact the layout, density, and use of these kinds of developments, too.
The myriad benefits of Mixed-Use Developments on growing cities have been much touted. They're said to create stronger community bonds, encourage more walking and biking, and reduce the distance between work and home leading to shorter commutes. People who love them say they're a great solution for those looking for walkable, multi-family housing with less maintenance than a single family home. They're also instrumental in some communities in making sure lower-income residents have easy access to commercial businesses such as grocery stores and doctor's offices.
But why so many MUDs in Charlotte?
Well, for starters, Charlotte is a flourishing city. Mixed-Use Developments are the easiest way to accommodate dense urban growth, and a lot of Charlotte's explosive building over the last decade has been centered around infill properties. MUDs are also highly conducive to rental as opposed to ownership properties because of the height and density that naturally comes with them. As a young, fast-moving city, Charlotte's still having trouble keeping up with demand for rental properties even though it seems like a new apartment building is going up on every corner.
Waverly, a new MUD in south Charlotte featuring David Weekley homes
Some of the most interesting Mixed-Use Developments in the Charlotte metro area contain many elements of a successful urban neighborhood. For example, <a href="https://www.housesincharlotte.com/south-charlotte/waverly" target="_blank">Waverly</a>, located at I-85 in south Charlotte, blends dozens of desirable brand-named stores and restaurants with affordable apartment rentals and owned homes by national builder David Weekley. Likewise, several large Mixed-Use properties are currently being developed in some of the most desirable parts of town, like <a href="https://www.housesincharlotte.com/south-charlotte/dilworth/">Dilworth</a>, to accommodate the need for more affordable housing. Residents love being able to live in income-restricted properties, and builders love the tax benefits they receive from building such developments. It's a win-win.
Would you like to live in a mixed-use development in Charlotte? Does the appeal of walking to restaurants and stores outweigh the smaller square footage and added traffic?
Tell us your thoughts on these developments in the comments or over on Facebook! We'd love to hear from you.2017-01-03T09:52:00-07:002020-12-06T15:09:23-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4538What's the Difference in a Townhome and a Condo?<img src="https://assets.site-static.com/userfiles/1188/image/COndo.jpg" width="800" height="420" alt="Condo Charlotte NC" style="vertical-align: middle;" />
Do you know the difference between a townhouse and a condo?
The former conjures up images of rows of two-story brick apartment complexes...we've got a lot of them here in Charlotte! The latter could refer to anything from a glass box on top of an Uptown skyscraper to a hip Southend loft, right?
Well, kinda.
The real difference between a townhome and a condo is all about semantics.
Townhomes are actually defined by their architectural styles. Townhomes can actually either be owned or rented. Generally, a townhome is sort of like a condensed single-family home. More often than not, townhomes are multiple stories, and usually, the living area is on one story while the bedrooms are on the other(s). Townhomes may or may not have an attached yard space, and they may or may not have access to shared amenities like a pool, tennis courts, etc. Usually, townhomes are part of a large community comprised of a bunch of townhomes, but they can be part of a single row of townhomes, too. Townhomes usually have front and back access and windows on both sides of the building.
Condos - or "condominiums" if you want to get technical about it - are defined by being owned. The term refers to a property in which the owner is responsible for everything inside the walls but not for shared spaces like hallways, exterior, etc. The easiest way to think about a townhome is like an apartment, but not one you rent. Condos are more typically units, and they don't usually have both front and back exposures like a townhome. You see them most often in medium- to large-sized buildings that stack condo on top of a condo, each sold to a different individual. Once owned, some buildings allow condos to then be rented out, but if that happens, they become two different things. They're a condo to the owner and an apartment to the renter. Still following?
Here's the rub: A townhome can BE a condo.
Yup, that's right. Some townhome developments are built with the very intention of selling those townhomes to individual owners. In that case, they're condos, too! The owner owns a condo and a townhome, depending on what they want to call it. A townhome is never just a townhome; it's either a condo or an apartment.
Let's break it down:
Townhome: Defined by its architecture<br />Style: Often two-story, living space on one level/bedrooms on another<br />Yard: Usually<br />Garage: Individual or none<br />HOA fees: Yes, if owned<br />Shared space: Sometimes<br />Landscaping: Sometimes your responsibility, sometimes paid by HOA dues<br /><br />
Condo: Defined by ownership<br />Style: Townhome, apartment, loft<br />Yard: Rarely<br />Garage: Usually shared<br />HOA fees: Yes<br />Shared space: Typical amenities include sports facilities, walking paths, garage space<br />Landscaping: Typically handled and paid for by HOA
If this seems to be the style of living you desire, explore all current <a href="https://www.housesincharlotte.com/charlotte-condos-townhomes-for-sale/">Charlotte townhomes and condos for sale</a> here and let us know when you're ready to start your journey.2016-12-19T09:24:00-07:002023-08-06T04:52:00-07:00Chad Hendrixtag:housesincharlotte.com,2012-09-20:4539How Often Are Property Tax Rates Assessed in Charlotte?<img src="https://assets.site-static.com/userfiles/1188/image/PropertyTaxAssessment_CLT_HPBlog-01.png" width="800" height="420" alt="Charlotte NC Property Taxes" style="vertical-align: middle;" />
If you live in Charlotte, you enjoy some of the lowest property taxes of any major city in the country.
That's great news! The property tax rates in Charlotte probably won't stay this low forever, but homeowners here have enjoyed historically affordable property taxes relative to other parts of the country and even in North Carolina as a whole. Here's what you need to know.
Property taxes in the Charlotte area are "locally-assessed" which means they're collected by the county you live in. This holds true for all neighboring counties: <a href="https://www.housesincharlotte.com/mecklenburg-county-real-estate/">Mecklenburg</a>, <a href="https://www.housesincharlotte.com/cabarrus-county-real-estate/">Cabarrus</a>, <a href="https://www.housesincharlotte.com/iredell-county-real-estate/">Iredell</a>, <a href="https://www.housesincharlotte.com/gaston-county-real-estate/">Gaston</a>, etc. If you live in Charlotte proper, you will pay both Charlotte-Mecklenburg County taxes and Charlotte city taxes as part of your overall tax bill each year. Property taxes pay for a number of important civil services like parks, public schools, and even emergency services.
What is taxed, and how?
"Property taxes" pertain to all the real property you own. This includes raw land, your home, and (separately) items you own, like cars, boats, and motorcycles. The amount you pay in property taxes is based on the assessed value of your home and the current tax rate. How do you figure out what you'll pay?
To determine your county taxes, divide the assessed value of your home by $100.00, then multiply that result by the current tax rates. The result is your annual county tax payment, which you'll then add to your city taxes and additional fee services such as sewer taxes.
Or, if you don't want to do all that math, go to the <a href="https://property.spatialest.com/nc/mecklenburg/#/" target="_blank">Charlotte property tax website </a>and enter your address.
But how does the county know how much my house is worth?
Well, that's the big question. A lot of homeowners wonder if their homes are assessed accurately, and some think the county overvalues their property, which causes them to pay more in taxes. How often are home values reassessed for property taxes in Charlotte?
By North Carolina law, property values must be reassessed at least every eight years. Sometimes the county chooses to assess them outside of this schedule, but this is rare. The last property tax assessment we had in the Charlotte area was in 2011, and the assessed values are expected to stay the same until 2019. In general, reassessing property taxes in Charlotte is a big deal! For example, <a href="http://www.charlotteobserver.com/news/politics-government/article9245489.html" target="_blank">in 2014 the city paid an independent review committee</a> to "revaluate" the homes assessed in 2011. This resulted in hundreds of tax bills and tax rebates for homeowners whose homes had been either under- or over-valued.
If something like this is happening, you'll hear about it on the news, but be sure to ask your Realtor if you have questions about property taxes in Charlotte.
What criteria does the county use to decide the value of your home?
According to the Char-Meck government:
The County Assessor's Office also keeps track of ownership changes, maintains maps of parcel boundaries, keeps descriptions of building and property characteristics up to date, keeps track of individuals and properties eligible for exemptions and other forms of property tax relief, and, most important, analyzes trends in sales prices, construction costs, and rents to estimate the value of all assessable property.
What can you do if you think your property's value has been assessed incorrectly? You can place an appeal with the county tax office, but you have to do it before you get your tax bill - if you're worried about your assessment, you need to stay on top of property tax reassessments and know your home's new "value."
Property taxes are officially "due" on September 1st of every year, but they're not late until January 1st (or a few days later, depending on holidays - the city will be clear on the exact date your payment is late.) When you sell property in Charlotte, you'll either be credited or debited with your portion of the property taxes, depending on when the sale takes place.
It sounds complicated, but having a knowledgeable Realtor helps! If you've still got questions about how your Charlotte property taxes will affect your home purchase or sale this year, give us a call. 2016-12-12T09:40:00-07:002023-09-16T06:21:15-07:00Chad Hendrix