REDSTONE Press Release

July 19, 2017 | Press Release, Under Construction

Charlotte, NC (July, 2017) – MPV Properties (MPV) and Stone Theatres recently celebrated the topping out of the new 14-screen cineplex, which will anchor RedStone, Indian Land’s new premier retail destination. The movie theater, to be called RedStone 14, is just one component of the RedStone shopping center with other tenants including Portofino’s Ristorante Italiano e Pizzeria, Red Rocks Café, Sharonview Federal Credit Union, Viva Chicken, Freddy’s Frozen Custard & Steakburgers, Pananova Craft Kitchen, Moe’s Southwest Grill, WAFU Japanese Steakhouse, Jackson’s Java, Which Wich, Tropical Smoothie Café, Menchie’s Frozen Yogurt, and Lee Nails.
“We are very pleased with the construction progress of RedStone,” says Michael Bilodeau, Development Manager with MPV. “The movie theater and mix of restaurants and shop space will create a first-class retail environment.”

The anticipated opening date for RedStone is mid-February of 2018.

SCCL SINGLE FAMILY SALES 2015-PRESENT

Source: Carolinas Multiple Listing Service. (CMLS)

HAPPY INDEPENDENCE DAY!

Be sure to remember why we are celebrating today...

Wishing you a fun-filled and safe 4th of July! 

IN CONGRESS, JULY 4, 1776

The unanimous Declaration of the thirteen united States of America

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

CLICK ON LINK FOR COMPLETE TEXT OF THE DECLARATION OF INDEPENDENCE.

AMERICAN DREAM IS ALIVE AND WELL

Article Courtesy of Keeping Current Matters/The KCM Blog
7/4/17

This article about the AMERICAN DREAM of owning a home is great news on this 4th of July!  It gives "Independence Day" a whole new meaning!

Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”   The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.  The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8. Alaska, coming in at 89.4, represented the lowest score on the index due in part to the recent collapse in oil prices. In contrast, Wyoming came in with the highest score at 115.1. The full results can be seen in the map below. Forbes Senior Editor Kurt Badenhausen explained why many states saw a boost in the index last month: “The American Dream Index rose for the fourth straight month to 101.8 propelled by gains in goods-producing jobs and building permits, as well as declines in unemployment claims and mass layoffs. Goods-producing jobs (manufacturing, mining, construction and agriculture) were up for the ninth straight month in May…Building permits rose for the fourth straight month compared to the prior year.” Bottom Line The American Dream, for many, includes being able to own a home of one’s own. With the economy improving in many areas of the country, that dream can finally become a reality.

PROGRESSIVE LIVING FACILITY TO BE BUILT NEAR SCCL

 More apartments, memory care for senior citizens coming to a town near Charlotte

Article By Ely Portillo
elyportillo@charlotteobserver.com
May 26, 2017

Read more here: http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article152867259.html#storylink=cpy

"Senior living is one of the fastest growing segments of local real estate, and a Charlotte developer is adding to the wave with a 230-unit, upscale development for senior citizens in Indian Land.
CitiSculpt plans to start construction in the fourth quarter this year on the new development on Highway 521, next to Sun City Carolina Lakes. The new facility, developed in partnership with privately held Starling, will include independent living apartments, cottages, assisted living and memory care units."
For complete article, CLICK HERE.

Read more here: http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article152867259.html#storylink=cpy

4 Tips for Effectively Making an Offer

Courtesy of Keeping Current Matters/The KCM Blog
5/16/17

So, you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market, you want to make sure that you make a good offer so that you can guarantee that your dream of making this house yours comes true!
Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 tips they covered along with some additional information for your consideration:

1. Understand How Much You Can Afford

“While it's not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

This ‘tip’ or ‘step’ should really take place before you start your home search process.
As we’ve mentioned before, getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

2. Act Fast

“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.” 

According to the latest Existing Home Sales Report, the inventory of homes for sale is currently at a 3.7-month supply; this is well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.
Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

3. Make a Solid Offer

Freddie Mac offers this advice to help make your offer the strongest it can be:

“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

Talk with your agent to find out if there are any ways that you can make your offer stand out in this competitive market!

4. Be Prepared to Negotiate

“It's likely that you'll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you'll be glad you did your homework first to understand how much you can afford.
Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home." If the inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller, or cancel the contract.

Bottom Line 

Whether you’re buying your first home or your fifth, having a local professional on your side who is an expert in their market is your best bet in making sure the process goes smoothly. Happy House Hunting!

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GREAT INFORMATION ABOUT APPLYING FOR A LOAN

Courtesy of Kevin D. Barbee

  Kevin D. Barbee
HomeServices Lending, LLC
NMLS 645363
NMLS 490683
3420 Toringdon Way Ste 200
Charlotte, NC 28277
704-227-3061
KevinBarbee@homeserviceslending.com http://www.kevinbarbeehomeloans.com
HomeServices Lending, LLC
NMLS 645363
NMLS 490683
3420 Toringdon Way Ste 200
Charlotte, NC 28277
704-227-3061
KevinBarbee@homeserviceslending.com http://www.kevinbarbeehomeloans.com

SCCL Community Open House - May 6th

Looking forward to holding 41214 Calla Lily Street open this Saturday, May 6th! This is SCCL's first Open House event and it will be a great opportunity to see some lovely homes in the community. Come by and see me!

How Owning a Home Pays Off at Tax Time

Article Courtesy of REALTOR®mag
Daily Real Estate News/Tuesday, April 18, 2017 (TAX DAY!)

This article covers some important facts for homeowners.  Learn about what deductions you may qualify for at tax time.  Tuck this one away for future reference. 

Mortgage interest deduction: Itemizing homeowners can deduct the interest they pay on their mortgage up to $1 million—or $500,000 if married but filing separately. The deductions can be made for loans issued to buy, build, or improve your home, and can apply to a house, trailer, or boat as long as it serves as your residence. A second mortgage, home equity loan, or home equity loan of credit to improve your home or buy a second home can also be included toward that $1 million limit.

Property tax deduction: The real estate property taxes paid can be another chunk of a deduction. For homeowners who purchased a home this year, they’ll want to check their HUD-1 settlement statement to see if they paid any property taxes when they closed on the purchase of the home.

Prepaid interest deduction: The prepaid interest, or points you paid when you took out your mortgage, is also deductible in the year you paid it too. This could apply to homeowners who refinanced their mortgage and used the money for home improvements. You can also deduct the points if you refinanced to get a better mortgage rate or shortened the length of your mortgage, but the deduction of the points must be over the life of your mortgage. See an example at HouseLogic.com.

PMI and FHA mortgage insurance premiums: The costs of private mortgage insurance can be deducted on loans taken out in 2007 or later. There are some stipulations, particularly if your adjusted gross income is more than $100,000, on how much you can deduct. Government insurance from the FHA, VA, and Rural Housing Service can also be deducted, but varies among agencies.

Vacation-home tax deductions: If the vacation home is used only by you, you can deduct the mortgage interest and real estate taxes. That means the home is not rented out for more than 14 days a year. If the home is rented out for more than that and used by yourself for less than 15 days, the home is classified like a rental property. Expenses are then deducted on IRS form Schedule E.

Energy-efficiency upgrades: Some energy-efficient upgrades may be eligible to be deducted via the Nonbusiness Energy Tax Credit. Among the upgrades that may qualify for the credit include: Biomass stoves; heating, ventilation, and air conditioning; insulation; roofs (metal and asphalt); water heaters (non-solar); and windows, doors, and skylights.
Source: “Are You Getting the Home Tax Deductions You’re Entitled To?” HouseLogic (2017)

Home Mortgages: Rates Up, Requirements Easing

This is a great article and visual on current mortgage rates. For anyone thinking about purchasing a home or refinancing, please remember that your credit is greatly affected by what you do financially prior to the loan funding. Do NOT make any large purchases or take out new credit cards prior to getting your loan... and don't quit your job! Seek advice from your lender about additional things that can affect your credit and your loan.

Article courtesy of Keeping Current Matters/the KCM Blog
April 13, 2017

The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the availability of mortgage credit each month with their Mortgage Credit Availability Index (MCAI). According to the MBA, the MCAI is:

“A summary measure which indicates the availability of mortgage credit at a point in time.”

The higher the index, the easier it is to get a mortgage. Here is a chart showing the MCAI over the last several months as rates have increased.

Have requirements for attaining a mortgage actually eased?

Yes. Here are two examples:

1. FICO® Score – the credit score which helps determine a buyer’s eligibility. The score required to attain a mortgage has been falling over the last five months:

2. Down Payment Requirement – the percentage of the purchase price necessary to place as a down payment on a home. To make this point, let’s look at the percentage of first-time buyers who have put less than 5% down over the last several years as compared to the 1^st quarter of 2017:

Bottom Line

Whether you are a current homeowner looking to move to a home that will better serve your family’s current needs, or a first-time buyer looking for a starter home, it is easier to get a mortgage today than it has been at any other time in the last ten years.