Saturday, December 8, 2012

Welcome to Charlotte North Carolina... Real Estate Update

Charlotte NC Realtor
Rich Ferretti
December 2012

Helping clients for over 20 years!
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Holiday Home Sales Tips
  The holiday season can be an incredibly busy time of year. Families are traveling across town, state, and country to visit loved ones. Children are home from school, bringing with them vacation schedules.
      This can be a difficult time for many sellers. They must find a balance between family time, showings, and open houses.
      If you are finding this holiday season particularly problematic, then keep reading.
      Just as your time for showings is limited, so is the time potential buyers have for touring your home.

Mortgage Rates
U.S. averages as of November 29, 2012:

30 yr. fixed:   3.32%
15 yr. fixed:   2.64%
1 yr. adj:        2.56%

View current rates

This means that if you are serious about moving your home in this season's market you must be willing to be flexible with your time. Making your home readily available may mean more showings or a

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Should I Stay Or Should I Go: Sell Or Remodel?

     Sometimes we grow tired of the same old thing and our first instinct might be to move on. That may be the perfect solution but remodeling might also be the answer.
      The best way to determine if you should be calling your expert real estate agent or your expert remodeler is to put pen to paper or fingers to the keyboard to make some notes about your ultimate goals for your home. Doing this will allow you to comparatively consider and see which things matter most. For instance, some people love their home but not the street they live on.
      That might bother them so much that it's worth the move or at least house-hunting, to see what the options look like. Others, might find the neighborhood perfect but their home is on the small side. A talented remodeler can usually help by creatively gaining both square footage and a great design. Whichever the case, weighing your options before making a rash decision will prove to be advantageous in the long run.
      Start by considering things like the location. This is vital because if you live inland and you want a nearby ocean view, a move is likely going to be mandatory.

Lower Inventory Levels Sell Homes Quicker

     Low inventory levels are bringing a faster turnaround for today's sellers. From 1987 through 2011, analysis of the NAR Profile of Home Buyers and Sellers series showed the typical time on market was 6.9 weeks, while the existing-home sales series showed an average supply of 7.0 months, just above the high end for a balanced market.
      Today's median time for a home to remain on the market is 69 days (July 2012). This is down nearly 30 percent from the 98 days seen in July 2011. The NAR reports that during periods which see close to a 6-month supply, such a now, homes have a median selling time of 6 weeks.
      Inventory levels remain low, with a 6.4-month supply of homes on the market in July. This is down 31.2 percent from a year ago. Last July saw a 9.3-month supply of homes on the market.
      Lawrence Yun, NAR chief economist, said there is a clear relationship between inventory supply and time on market. "As inventory has tightened, homes have been selling more quickly," he said.  "A notable shortening of time on market began this spring, and this has created a general balance between home buyers and sellers in much of the country.  This equilibrium is supporting sustained price growth, and homes that are correctly priced tend to sell quickly, while those that aren't often languish on the market."
      "Our current forecast is for the median existing home price to rise 4.5 to

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Avoid 3 Common Mistakes Even Savvy Decorators Make When Choosing Art
     In the realm of interior design, the works of art you choose should frame your decor and go beyond matching the furniture, being "cool," or displaying status symbols.
      Consider these tips for choosing art for your home.
      Mistake No. 1 Choosing artwork to match the sofa: Find work that compliments your mood and the style of your décor. To that end, here are some important questions to consider.
Does the art make your energy feel light or heavy?
      Try experimenting. Grab a National Geographic or some other magazine with a wide variety of images and take a look through the pictures. Become aware of the photographs that weigh you down and those that create an effervescent effect in

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Rich Ferretti, Broker/Realtor ABR,QSC e-PRO
Keller Williams Realty704-564-0807
6555 Old Monroe Road
Indian Trail, NC 28079

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