If you?ve been thinking about buying or selling a home, but have held back because of national media reports, you?re not alone. It?s easy to be influenced by what you read or hear, and there?s plenty of negative news out there about the real estate industry.

But here?s some real news: Home ownership is still an excellent, long-term investment. Real estate is a local, not national, business. And the Carolinas remain one of the best places in the country for real estate sales.

Most people stay in a home for an average of 10 years, according to the National Association of Realtors?. During that time, they enjoy security and tax advantages, and a solid appreciation of their investment. For example, the average home purchased in 2001 has appreciated in value nearly 39 percent. That?s $78,000 on a $200,000 home.

Nationally, home prices are down, but the local picture is much different. Charlotte leads the country in home price appreciation. Portland and Seattle were the only other markets besides Charlotte to show price growth for the year ending December 2007. Other positives in the Charlotte housing market include an increase in average list price and close price, a decrease in the number of days houses are on the market and an overall balancing of inventory in the marketplace.

Additionally, Charlotte ranks #4 among ?Best American Cities for Bargain Hunters,? according to a recent study by Forbes magazine. The region?s booming economy has drawn many new residents from the North and Northeast to new jobs in the financial sector and other industries. While there is an adequate supply of homes available, keeping it a buyer?s market, Charlotte?s steady employment growth suggests that inventory can burn off at a healthy rate and risk of foreclosure is significantly less than other parts of the country.

If you?re looking to buy a new home in the Charlotte region, search confidently knowing that the area continues to attract new companies and expansions, young families seeking an excellent quality of life, and retirees drawn to family, a pleasant climate, and locations near the mountains and beach.


Courtesy: Charlotte Between the Lines

May 7, 2008

The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.

How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. It just means that the trend is no longer getting worse, which is the critical factor.

The next question is: Even if home sales pick up, how can home prices stop falling with so many houses vacant and unsold? The flip but true answer: because they always do.

In the past five major housing market corrections (and there were some big ones, such as in the early 1980s when home sales also fell by 50%-60% and prices fell 12%-15% in real terms), every time home sales bottomed, the pace of house-price declines halved within one or two months.

This is all good news for the broader economy. The housing bust has been subtracting a full percentage point from GDP for almost two years now, which is very large for a sector that represents less than 5% of economic activity.The odds are that the reverberations will lead to sub-trend growth for a couple of years.

Nonetheless, housing led us into this credit crisis and this recession. It is likely to lead us out. And that process is underway, right now.


Courtesy: Cyril Moulle-Berteaux, The Wall Street Journal

May 21, 2008

Outside the House-Up High

Inspect the roof for damaged, loose or blistered shingles.
Have damaged shingles replaced if they're on less than 20% of the roof. Reroof if damaged shingles cover more than 20% of the roof.

Examine flashing around chimneys, vents, and roof edges. Remove debris from gutters and downspouts and patch any holes.
Make sure the downspouts direct water at least five feet away from your foundation.

Examine fascia or soffit boards. Replace if they are soft or rotting because they may allow rain into your attic.

Trim branches and shrubs that are touching your home which can provide a pathway for bugs or excess moisture to enter.
Remove dead branches that may fall on your home.


Outside The House-Down Low

Clean up fallen limbs, branches and other debris around the home to discourage wood-eating insects like termites.

Clean out basement window wells.

Inspect/replace caulk on windows, doors, and other penetrations, such as dryer vents and cable wire holes.
Inspect and repair caulking where two different materials meet, for example where wood siding joins the foundation's wall or at inside corners.

Touch up any exterior surfaces that need paint before they deteriorate further.

Inspect bricks and concrete blocks for cracked mortar or loose joints.

Inspect grading around the house to be sure water drains away from the foundation on all sides.

Make sure that your lawn sprinkler heads do not spray the walls of the house.

Check your inside and outside foundation walls and piers for termite tubes and damaged wood or have a professional pest control company do this for you.


Excellent maintenance tips for any homeowner!


Courtesy: Old Republic Home Protection

May 28, 2008

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