Are We About to See a New Wave of Foreclosures? NO

Your Huntersville Realtor For Life

With all of the havoc being caused by COVID-19, many are concerned we may see a new wave of foreclosures. Restaurants, airlines, hotels, and many other industries are furloughing workers or dramatically cutting their hours. Without a job, many homeowners are wondering how they’ll be able to afford their mortgage payments.

In spite of this, there are actually many reasons we won’t see a surge in the number of foreclosures like we did during the housing crash over ten years ago. Here are just a few of those reasons:

The Government Learned its Lesson the Last Time

During the previous housing crash, the government was slow to recognize the challenges homeowners were having and waited too long to grant relief. Today, action is being taken swiftly. Just this week:

• The Federal Housing Administration indicated it is enacting an “immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages” for the next 60 days.
• The Federal Housing Finance Agency announced it is directing Fannie Mae and Freddie Mac to suspend foreclosures and evictions for “at least 60 days.”

Homeowners Learned their Lesson the Last Time

When the housing market was going strong in the early 2000s, homeowners gained a tremendous amount of equity in their homes. Many began to tap into that equity. Some started to use their homes as ATM machines to purchase luxury items like cars, jet-skis, and lavish vacations. When prices dipped, many found themselves in a negative equity situation (where the mortgage was greater than the value of their homes). Some just walked away, leaving the banks with no other option but to foreclose on their properties.

Today, the home equity situation in America is vastly different. From 2005-2007, homeowners cashed out $824 billion worth of home equity by refinancing. In the last three years, they cashed out only $232 billion, less than one-third of that amount. That has led to:

• 37% of homes in America having no mortgage at all
• Of the remaining 63%, more than 1 in 4 having over 50% equity

Even if prices dip (and most experts are not predicting that they will), most homeowners will still have vast amounts of value in their homes and will not walk away from that money.

There Will Be Help Available to Individuals and Small Businesses

The government is aware of the financial pain this virus has caused and will continue to cause. Yesterday, the Associated Press reported:

“In a memorandum, Treasury proposed two $250 billion cash infusions to individuals: A first set of checks issued starting April 6, with a second wave in mid-May. The amounts would depend on income and family size.”

The plan also recommends $300 billion for small businesses.

Bottom Line

These are not going to be easy times. However, the lessons learned from the last crisis have Americans better prepared to weather the financial storm. For those who can’t, help is on the way.

September Real Estate By The Numbers

A little bit of information for my Birkdale and Birkdale Village followers! Whether you're interested in buying a home or selling your house, the current market is full of opportunity. Let's get together to explore your options!

5 Reasons to Sell Your Huntersville HomeThis Fall

Below are 5 compelling reasons listing your home for sale this fall makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase…and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal market. This means that in the majority of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple years, for fear that they would not find a home to move to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. According to Ellie Mae’s latest Origination Insights Report, the time needed to close a loan is 43 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that in the luxury or premium market.

According to CoreLogic, prices are projected to appreciate by 5.2% over the next year. If you’re moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage) if you wait.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Consumer Confidence in Housing at an All-Time High

Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.

Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:

• The share of Americans who say it is a good time to buy a home increased from the same time last year.
• The share of those who say it is a good time to sell a home increased from the same time last year.
• The share of Americans who say they are not concerned about losing their job over the next 12 months increased dramatically (16 percentage points) from the same time last year.
• The share of Americans who say mortgage rates will go down over the next 12 months increased dramatically (24 percentage points) from the same time last year.

The day after the index was released, Freddie Mac also announced the 30-year fixed-rate mortgage rate fell to its lowest level in three years.

Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae explained the uptick in the index:

“Consumer job confidence and favorable mortgage rate expectations lifted the HPSI to a new survey high in July, despite ongoing housing supply and affordability challenges. Consumers appear to have shaken off a winter slump in sentiment amid strong income gains. Therefore, sentiment is positioned to take advantage of any supply that comes to market, particularly in the affordable category.”

Bottom Line

Consumers are feeling good about the real estate market. Since Americans are not worried about their jobs, see mortgage rates near an all-time low, and believe it is a good time to buy, the housing market will remain strong for the rest of the year.

The Ultimate Truth about Housing Affordability

Your Huntersville Expert - Roby Robertson

There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means.

On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index…

“…measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.”

Their methodology states:

“To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.”

So, the higher the index, the more affordable it is to purchase a home. Here is a graph of the index going back to 1990:

It is true that the index is lower today than any year from 2009 to 2017. However, we must realize the main reason homes were more affordable. That period of time immediately followed a housing crash and there were large numbers of distressed properties (foreclosures and short sales). Those properties were sold at large discounts.

Today, the index is higher than any year from 1990 to 2008. Based on historic home affordability data, that means homes are more affordable right now than any other time besides the time following the housing crisis.

With mortgage rates remaining low and wages finally increasing, we can see that it is MORE AFFORDABLE to purchase a home today than it was last year!

Bottom Line

With wages increasing, price appreciation moderating, and mortgage rates remaining near all-time lows, purchasing a home is a great move based on historic affordability numbers.

 The American Dream of homeownership is alive and well. Before you sign another lease, let’s get together to help you better understand all your options. The Huntersville area including Birkdale, Birkdale Village and Northstone Country club are especially attractive areas to live. Let us show you all the benefits.

How Can You Increase Your Family’s Net Worth?

How Can I Increase My Family’s Net Worth?

Every three years, the Federal Reserve conducts their Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016.

The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth.

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why Gallup reported that Americans picked real estate as the best long-term investment for the fifth year in a row. According to this year’s results, 34% of Americans chose real estate. Stocks followed at 26%, and then gold, savings accounts/CDs, or bonds.

Bottom Line

If you want to find out how you can use your monthly housing cost to increase your family’s wealth, let’s get together to guide you through the process.

Buyers or Sellers Market

Ever wonder what is the difference between a buyers and seller Market. Below is a graphic that we hope will help explain some of this environment. You can have a both buyers and sellers market simultaneously in different price categories.

• An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!
• Inventory continues to rise in the luxury and premium home markets which is causing prices to cool. 
• Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 80 consecutive months.

Please visit Real Estate with Roby Robertson to find more information about the real estate market.

How Supply and Demand Impacts Real Estate Values

The price of any item is determined by the supply of that item, as well as the demand for that item in its market. The same is true in real estate. As the inventory of homes available for sale shrinks, and the demand that buyers have for those homes continues to grow, prices increase. Let's get together to discuss the supply and demand of homes in our market! Case in Point. I just listed a home in Davidson: http://www.tourfactory.com/2053739 With so little inventory we had 13 showing requests in the 1st day alone. We also had 3 offers and went under contract for above list price. Are you thinking of selling this year? We can help and save you money. Just ask how!!

Thinking of Selling Your Huntersville Home? Act Now

Buyer demand continues to outpace the supply of homes for sale across the country and it does not appear to be slowing down. If you are debating whether or not to list your house for sale this year, let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now! Interest rates are going to rise again, it may be the best time right now to buy and sell your Huntersville area home!

Is Huntersville, NC Housing Affordable

Huntersville NC Real Estate is Hot

As home prices continue to rise due to a lack of inventory, many people are becoming more concerned about housing affordability. Taking a look at NAR's Housing Affordability Index puts that concern to rest. Let's get together to go over your specific market and determine whether or not you are ready to buy today! Interest rates are around 4.5 percent. There is talk of rated going to 5.1 percent by end of year. If you are buying or selling, the time may be right.

It's a Sellers Market, Save Money

Sorry but I do not have $2,000,000 to give.   BUT,  if you are thinking of selling your Huntersville home, let me help you save money.  It IS a Sellers Market,  Homes are flying off the shelves and while you need representation, you can get very professional help at a lower cost,  Guaranteed!


On this website can see ALL the active listings in Birkdale, Birkdale Village, Northstone and Mcauley in real time.  

Services Offered to you:

Drone photos if needed Professional Photographs of your home
Management of key dates and challenging negotiations
Answer your calls in a timely manner.
So MUCH more….( just ask it does not cost anything)

Roby Robertson (roby@carolinalivingrealestate.com)

www.RobyRobertson.com – 704-451-7051

Carolina Living Real Estate 704 594-3014

16507A Northcross Dr.  Huntersville, NC 28078

Your Next Huntersville Agent - What We Do For Buyers

According to Realtor.com, a buyers agent performs the duties listed below., HOWEVER there is much more to it than these and we provide these and much more!

1. Find the right property. After determining what clients are looking for and what they can afford, the agent will schedule appointments to tour homes that fit the bill. The agent can also explain the ins and outs of various properties and neighborhoods to help buyers decide which home is right for them by explaining the pros and cons of various options. 
2. Negotiate the offer. The buyer's agent will advise clients on an appropriate price to offer and present it to the seller's agent. "Then they will negotiate on your behalf and write up the contracts for you," says Matt Laricy, a Realtor with Americorp Real Estate in Chicago. This is where the agent's experience in negotiating deals can save you money and help you avoid pitfalls like a fixer-upper that's more trouble than it's worth. 
3. Recommend other professionals. A buyer's agent should also be able to refer you to reliable mortgage brokers, real estate attorneys, home inspectors, movers, and more. This can also help expedite each step of the process and move you to a successful sale all the faster. 
4. Help overcome setbacks. If the home inspector's report or appraisal brings new issues to light, a buyer's agent can advise you on how to proceed, and then act as a buffer between you and the sellers or their agent. If negotiations become heated or hostile, it's extremely helpful to have an experienced professional keeping calm and offering productive solutions.

Your Next Huntersville Real Estate Agent - Sellers Disclosure

In Real Estate circles the we have a phrase that we emphasize to our sellers.  It is actually very simple.  It is 3 words and they repeat!  DISCLOSE, DISCLOSE, DISCLOSE.

In reality we live in a litigious world and the best way to protect ourselves is to disclose what defects are aware of when we list our homes for sale.

Recently, I had the unfortunate experience of listing a home of a long term client where a family member recently ended his life by hanging.  While, it was very very sad, I had to know if this has to be disclosed to buyers.

The laws vary by state but on NC there is a published document entitled 14 Facts you Do Not Need to Disclose wen selling! You can read the article here.

If you want to learn more about disclosure, please read the article on Realtor.com entitled: Learn These Basic Rules of Seller Disclosure So You Don't Get Sued

Birkdale and Birkdale Village Real Estate - Homes Sold When!?

Are you wondering what months home have closed  in Birkdale and Birkdale Village during the 1st 9 months of 2017.  Thinking of selling your Birkdale/Birkdale Village/ Huntersville home in the future.  Maybe you will find this information useful.

During 2017, here are the number of homes sold by month through September.   There have been a total of 60 homes closed so far.   As you can tell from the data below, the ideal time to sell are between March and August.    This data coincides with home sales throughout the Huntersville and Cornelius areas!

3 Homes closed in January
5 Homes closed in February
8 Homes closed in March
7 Homes Closed in April
9 Homes Closed in May
8 Homes Closed in June
8 Homes Closed in July
8 Homes Closed in August
4 Homes Closed in September

Lets look at the last quarter of 2016.  6 Homes closed during this period.

2 Homes closed in October
1 Home sold in November
3 Homes sold in December

There are currently 14 homes active for sale.
There are currently 11 homes under contract

We can assume that the 11 homes under contract will close in the last quarter of 2017.

Why We Love Birkdale Village and Birkdale Golf Club

Birkdale Village, a multi-use open air center with over 55 retail shops, 11 restaurants, a 16 screen theater and an interactive fountain for the kids.

 The Arnold Palmer designed Birkdale Golf Course has tee's for all levels of play, a great practice facility and is affordable!

Call Carolina Living Real Estate for all your Birkdale and Birkdale Village Real Estate Needs.
Roby Robertson   704 451 7051

Selling or Buying Your Birkdale and Birkdale Village Home

Good Morning, Does the video below remind you of anyone? If so, please call Roby Robertson at 704 451 7051 and see what he can do for you! Marketing, Commissions and Communication are important discussions topics.
Are you buying?  Getting no help?   Call me!

 

Birkdale and Birkdale Village Statistics Feb 2011

Birkdale and Birkdale Village Homes For Sale

As of 2/20/2011, there are 42 homes for sale in the Birkdale and Birkdale Village Subdivisions.  Additionally there are 7 homes currently under contract.

Of the 42 active homes for sale, 32 are in Birkdale and 11 are in Birkdale Village.

Of the 7 homes under contract, 5 are in Birkdale and 2 in Birkdale Village.

Of the Birkdale homes, the average days on the the market is 132. 

Of the Birkdale homes, the average sales price is $373,112.

Of the Birkdale Village homes, the average days on the the market is 185. 

Of the Birkdale Village homes, the average sales price is $280,030.

There are 4 homes currently for rent in Birkdale and Birkdale Village.

3 of these are in Birkdale Village with an average rental price of $1350.

Check out YourCharlottePropertyManagement to see all the area Rentals.

 

Birkdale and Birkdale Village Absorption Rate November 2010

Birkdale and Birkdale Village are fairing better than our overall market.  Check out the inventory of homes compared to the rest of Charlotte and our entire MLS.


Birkdale (Area 9) 

Homes sold per month over the past year	3.4
Homes on the market now	29
Current inventory	8.5 months

Birkdale Village (Area 9)

Homes sold per month over the past year	1.7
Homes on the market now	12
Current inventory	7.2 months

by comparison... 

Charlotte

Homes sold per month over the past year	669.10
Homes on the market now	7295
Current inventory	10.90 months

Mecklenburg

Homes sold per month over the past year	827.90
Homes on the market now	9078
Current inventory	11.00 months

CMLS

Homes sold per month over the past year	1772.20
Homes on the market now	21545
Current inventory	12.20 months

Looking For A Birkdale Foreclosure

Birkdale Foreclosure For Sale

2-Story Home with 2-Car, Side-Load Garage. Terrific four bedroom home in wonderful Birkdale with its many amenities. Hardwood floors, ceramic tile, built in bookcases, extensive wood trim, and trey ceilings are just some of the special touches that set this home apart. Home does need some repair!

Home is on the market for $310.000!

The bank bought it back for $291,000!

We are your foreclosure finding experts.  If you want to see  this one or get updated lists of your own, contact us at Carolina Living Real Estate!