For more detailed market information on Lincoln County or other Charlotte Metro areas please visit our website or call 1800-851-5253.

CHARLOTTE REAL ESTATE NEWS

In today’s market, A BUYER’S MARKET, it is imperative that sellers are aware of the five most important factors necessary to maximize the ultimate sales price. With a growing inventory of homes for sale, sellers who understand how to position their home in a buyer’s market will be the ones who sell their home in the shortest time possible at the best price possible. Begin by looking at your home through the eyes of a potential buyer.

There are five basic factors that ultimately determine whether a home is going to sell, or simply be one of many homes on the market with very few showings and no offers:
Buyers have many choices in today’s market.  In order for a seller to maximize the selling price of a home, the home must be “Parade Ready” and priced right! PRICE is determined by:  CONDITION, LOCATION, SIZE, and FEATURES. A home that can rate a score of 10 in CONDITION, LOCATION, SIZE, and FEATURES can be more aggressively priced compared to a home that is deficient in any of the categories. A seller can only control CONDITION, FEATURES and PRICE.  LOCATION and SIZE are not controllable.
Currently there are 28,271 homes on the market, and over the past three months only 4,410 homes sold.
To be among the 4,410 homes that sell, your home must be Valued as a 10 in: CONDITION, LOCATION, SIZE, FEATURES, and that will allow a 10 in PRICE. If your home is not rated a 10 in all these categories, then PRICE will need to be adjusted for these deficiencies.
There are three categories for the 28,000 homes currently on the market:
FLOW. Homes that are considered to be the best Value and Price flow into the market and then leave the market SOLD in less than 45 days.
SHOW.  Homes that are deficient in Value or Price might be shown, but they are not getting any offers.  Adjustments must be made in Price or Value (Condition, Features) to get the listing sold.
STAGNANT MASS.  Homes that are greatly deficient in      both Value and Price do not even attract showings.  There     is  virtually no activity, and these listings never sell.
Ask yourself where you want to position your house in this competitive Buyer’s market. Remember, any deficiency in the five categories of: CONDITION, LOCATION, SIZE, FEATURES or PRICE will remove your listing from the “Flow” of the market and place it in the “Show but no offer” category or worst yet, in the “Stagnant Mass” with no showings.
If positioned properly, your home will be in the “Flow” of the market, and it will attract a buyer.

To have your home priced correctly by one of our professional agents please contact us at 1-800-851-5253 or visit our website at www.helenadamsrealty.com

It is estimated that 53% of the home buyers in 2009 will be first time home buyers.  There were two Acts, one passed in 2008 and the other in 2009 to assist first time homebuyers with tax credit funds.
The following is a summary of the 2008 and 2009 Tax Credit Acts.  The 2009 Tax Credit Act will not be applicable for purchases after November 30, 2009.  Now is the time to buy!

Additional Tax Credit Information:
Purchase Date for a residence being constructed:
The Purchase Date is the date the individual moves in, even though construction began earlier.
First Time Homebuyer:
An individual is a “first-time homebuyer,” if neither the individual nor the individual’s spouse has owned an interest in a principal residence in the U.S. during the 3-year period ending on the date of the purchase of the current residence.
An individual’s marital status is determined at the date of purchase.
Ownership of a dwelling that is not the taxpayer’s principal residence within the prior three years does not affect qualification for the credit.
36-Month Recapture Rule Exceptions:
Transfers between spouses
Transfers because of death
Involuntary conversions
No gain on sale
Treatment of Unmarried Co-Owners:
Two or more unmarried individuals may purchase a residence and qualify for the credit.  However, the total amount of the credit allowed to the individuals in the aggregate may not exceed the overall cap of $8,000 for 2009 ($7,500 for 2008).  The co-owners may allocate the credit between themselves in any reasonable manner.  No portion of the credit may be allocated to a co-owner who would not otherwise qualify for the credit.  No portion of the credit may be allocated to a co-owner who did not contribute financially toward the purchase price of the residence.  Example:  If co-owner A pays the entire purchase price of the residence and lists co-owner B as a 50% owner, co-owner B is not eligible to take any of the credit.  Co-owner A would take the entire credit.
2009 Credit May Be Taken on the 2008 Tax Return:
If an individual purchases a qualifying residence after 2008, and before December 1, 2009, the individual may elect to treat the purchase as made on December 31, 2008.  If this election is made, any income phase-out will be based on 2008 Adjusted Gross Income.  However, taking the credit on a 2008 return (rather than the 2009 return) does not subject the credit to the 15-year recapture provisions.  If your client thinks they want to do this, they should consult their tax advisor.  This requires some careful tax planning and calculations.  To take advantage of this option, the individual can either:
Extend 2008 Return Until  Home is Purchased, or
Amend their already filed 2008 Return
This is a Refundable Credit:
If the credit exceeds the individual’s tax, they can still receive a refund for the eligible credit amount in addition to whatever refund they might already be due.

CHARLOTTE REAL ESTATE

The Arlington in Charlotte’s historic SouthEnd district is located a few blocks from center city Charlotte, as well as the quaint historic Dilworth neighborhood.  Trendy dining, shopping, entertainment and Charlotte’s Light Rail are within walking distance. In fact, one of Charlotte’s hottest dining and nightlife spots, Nikko, is on the bottom retail level floor of the Arlington!  Nikko is a sleek, modern sushi bar that turns into a posh nightclub at night that draws a beautiful crowd. The location of The Arlington is spectacular, and skyline views from its floor-to-ceiling glass condos are phenomenal.

Most importantly, The Arlington is priced exceptionally!  The Arlington is also an iconic building in SouthEnd, which is known to most locals as “the pink building”  (better buy one before Paris Hilton does- ha!).   The Arlington has urban appeal and dramatic skyline city vistas. Parking is also very convenient at The Arlington for residents and guest.  There is an attached parking garage with 24 hr security, which also has parking for retail. The Arlington also features a Rooftop Pool and Fitness Center.

The units at The Arlington are 1 and 2 bedrooms, all with balconies, 10 foot ceilings and floor-to-ceiling glass windows with spectacular views.  Units are currently priced from the mid $140,000 range!

The Arlington is next to Charlotte’s Light Rail, Uptown, Dilworth and the Dowd YMCA.