Real Estate Information

Lake Norman NC Real Estate Blog

Mayes Harris Team

Blog

Displaying blog entries 1-10 of 246

A Fun Mooresville Fall Activity For The WHOLE Family!!

by Mayes Harris Team

Carrigan Farms is family owned and operated. Just like my family, they’ve been native to the area for over 100 years and they’ve been farming that long as well! In the Summer, you’ll find fresh produce and this time of year, in the Fall, you’ll be able to pick your own apples, take a hayride, night or day, and if you dare, walk the Haunted Trail!! Let's learn some more about this wonderful venue.

The Haunted Trail opens up in October and asks visitors to be prepared for Scarrigan Farms to get their hearts pumping!! The farm transforms its 170 acres into the scariest haunted trail in the region!! This is not designed for those under 12 years old and that tells you something about it to begin with. Definitely bring your courage when you come. Tickets begin being sold at 6:30 pm and they close based on attendance.

Arrival times are suggested as follows:
Arrive before 9 pm on Thursdays.
Arrive before 10 pm on Fridays.
Arrive before 11 pm on Saturdays.
Arrive before 9 pm on Sundays.

Pick your own apples begins on September 7th and runs through the month of September. They are open each weekend, Saturday and Sunday, from 9 am to 4 pm. The cost is $11 per person and includes a hayride to the orchard as well as a half peck bag of apples for each person.

You can also come during the week and ride the apple hayrides on Tuesday, Wednesday or Thursday at 2 pm, 3 pm or 4 pm. This begins the week of September 10th and lasts throughout the month of September.

Do beware that they only accept cash or checks. There are no exceptions.

In October you can pick your own pumpkins. There will be hayrides to the pumpkin patch too!

Maybe you would like to try out the hayrides at night. This activity happens during the months of September, October and November. Reservations are required. These rides are 45 minutes long and accommodate up to 30 people. A bonfire will be provided for roasting marshmallows and hot dogs. The nighttime hayrides being at 6 pm and are scheduled on the hour until 9 pm and the cost is $12 per person with a 12-person minimum. Kids under the age of 2 are free.

Fieldtrips are welcomed and are popular with preschool through second graders. The kids will learn about farm life through exploring various topics. During the month of September the tour includes apple picking and in October pumpkin picking is included.

Learn more about the farm by visiting their WEBSITE.

 

Market Report Update: Mecklenburg County's August 2019 Stats

by Mayes Harris Team

It is time once again to take a look back at yet another page on the calendar. This month we begin by reviewing Mecklenburg County's August 2019 Stats.

Let's dive a little farther than this starting with the Median Sales Price in AUGUST. If we look back at 2017, we see a median sales price of $250,000. The following year, 2018, that price increased by +11.5 percent to $278,750. In 2019, we increased again by +4.0 percent to a median sales price of $290,000 in Mecklenburg County.

Next, we are going to review the number of New Listings that came on the market in Mecklenburg County in AUGUST. We start with 2 years ago, 2017, and see that there were 1,705 new homes that came on the market. The following year, 2018, there was a decrease of -1.9 percent with 1,673 new homes coming on the market. This year, 2019, there was an increase of -+7.2 percent with 1,794 homes coming on the market.

The next statistic we will review is the AUGUST Median Days on Market. Starting in 2017, we saw 8 median days on the market and then the following year, 2018, we increased by +37.5 percent to 11 median days on the market. In 2019, we increased by +18.2 percent to 13 median days on the market.

So there you have it. A quick overview of what is happening in our local market of Mecklenburg County. If you have questions or need real estate assistance than please reach out to us. We would love to help you!!

What does Move In Ready really mean?

by Mayes Harris Team

If you’ve been searching for a new home no doubt you’ve seen the term, “move-in ready.” This description sounds very appealing, but understanding what it actually means is important so you have the right expectations when arranging your home listing tour.

First, it’s important to remember that the descriptions in real estate Listings are written by the listing agent or broker. There is no set industry standard for what agents can say in their listings. While there are guidelines and rules which prevent blatant lying, most home buyers have become aware of the fluffy language used to market a home for sale.

The meaning of “move-in ready” is fairly straightforward; it means that the home is in a condition which is acceptable for immediate occupancy. The home meets the standards of living and assures the buyer that the essential elements needed to occupy the home are present and in running condition. For example, the home should have working plumbing, appliances, sound roof, electricity, gas and locking doors and windows.

What “move-in ready” does not necessarily mean is that the home is in pristine condition. A home that is “move-in ready” might still need significant updating and while systems are assumed to be operational, they might still be old or outdated.

“Move-in ready” is a common phrase in real estate Listings. Understanding that the home might still need quite a bit of work to suit your taste and lifestyle, you can approach the listing with realistic expectations and determine if the property is the right fit for your needs. Contact us if you have questions or need real estate assistance.

The Mayes Harris Team of RE/MAX Executive once again welcomed back the faculty of Davidson Elementary, Bailey Middle School and William A. Hough High School. We love hosting these welcome back luncheons with giveaways such as flash drives, pens, calendars, lunches and more every year!! It is our way of paying it forward to some of the most important people in the community who have an awesome task of molding our future generation.

We thought we would share our experience through these videos we created. The first video shows the first two luncheons. One was with William A. Hough High School on August 16th and the other was with Bailey Middle School on August 19th.

The last one we hosted was on Thursday, August 22nd and that was for the Davidson Elementary faculty.

We really LOVE this part of our job and it is something we continually look forward to.

Market Report Update: Mecklenburg County's July 2019 Stats

by Mayes Harris Team

It is time once again to take a look back at yet another page on the calendar. This month we begin by reviewing Mecklenburg County's July 2019 Stats.

Let's dive a little farther than this starting with the Median Sales Price in July. If we look back at 2017, we see a median sales price of $264.900. The following year, 2018, that price increased by +3.4 percent to $274,000. In 2019, we increased again by +11.3 percent to a median sales price of $305,000 in Mecklenburg County.

Next, we are going to review the number of New Listings that came on the market in Mecklenburg County in July. We start with 2 years ago, 2017, and see that there were 1,764 new homes that came on the market. The following year, 2018, there was a decrease of -3.7 percent with 1,698 new homes coming on the market. This year, 2019, there was a slight increase of -+1.0 percent with only 1,715 homes coming on the market.

The next statistic we will review is the July Median Days on Market. Starting in 2017, we saw 8 median days on the market and then the following year, 2018, we increased by +12.5 percent to 9 median days on the market. In 2019, we increased by +33.3 percent to 12 median days on the market.

So there you have it. A quick overview of what is happening in our local market of Mecklenburg County. If you have questions or need real estate assistance than please reach out to us. We would love to help you!!

How To Lower Closing Costs

by Mayes Harris Team

Closing costs help facilitate the sale of a home and both buyers and sellers pitch in. Some closing costs can be paid before the home is officially sold and others are paid at the end.

However, closing costs aren’t set into stone and they can be negotiable. You can ask your real estate agent or lender with help in estimating your actual closing costs. Look over everything to make sure all the numbers are right and then you plan accordingly in how you’re going to lower them.

Loyalty Programs

Some banks offer assistance to buyers when they use them to help pay for the purchase. It’s a way for a bank to reward loyal customers.

Closing at the End of the Month

Schedule your closing at the end of the month so you don’t have to pay the per diem interest for so many days.

Get Multiple Quotes

Get estimates from different lenders because you’re looking for the best package of closing costs and interest rates. There might be something better out there.

Junk Fees

There may be some fees a lender charges that may be negotiable, such as origination fee, processing fee, or application fee. Make sure to ask if what you are being quoted is the best they can offer.

Title Costs

Sometimes title insurance and settlement are bundled together. You may be able to find a title and settlement company that is less expensive.

Negotiate With the Seller

You can try to negotiate with the seller in paying for some of your closing costs. Buyers can ask for credit or to cover lender expenses during the offer and negotiation process.

Top 5 Ways to Make Your Offer Stand Out

by Mayes Harris Team

If you’ve been looking for a new home, finding the right one is exciting. Now that it’s time to write the offer, however, you might be wondering what you can do to make sure the seller is impressed with your offer. Of course the easiest way is to offer cash significantly over asking price, but fortunately in the real world there are still great ways to ensure the seller takes your offer seriously and improve your chance of acceptance.

Top 5 Ways to Make Your Offer Stand Out

1. Pre-Approval Letter – A pre-approval means your lender has done their due diligence and has all the documentation needed to close the loan.
2. Contingency Removals – Certainly you should not remove any contingencies which could put you at risk, but the contract is full of some which you can safely remove. Consider removing or shortening contingency periods to provide peace of mind to the sellers.
3. Sell Your Home First – One red flag is the buyer who needs to sell their own home before closing. Sell before you write the offer whenever possible.
4. Escrow Period – Working with your agent, offer a longer or shorter escrow period based on the seller’s moving needs.
5. Win-Win – Show the seller that you want to create a win-win. Negotiations are part of a home sale, but avoid seeming unreasonable or demanding.

While price is always important to the home seller, there are other valuable concessions or offers which can mean as much. Work with an agent who views the transaction as a win for all sides and learn what’s important to the seller before you write the offer. By accommodating their needs as much as possible, you are more likely to have your offer accepted.

Appraisals Explained

by Mayes Harris Team

Appraisals are one of the most confusing aspects of buying or selling real estate for the consumer. When a buyer and seller agree on a sales price, it can be frustrating to hear that the appraisal came in with a value too low. It’s not enough for the principals to agree to the price, the appraisal is the lender’s way to ensure they are not loaning money over the actual market value of the property.

The appraised value is reached by a licensed professional who looks at the real estate market in which the target property is located. They start with the target property and then look for recent sales in the area of comparable properties. These comparable properties will be located within a short distance of the target home, normally within a 5 mile radius. They should also be of comparable size and often fall within the same housing development.

Once these homes are identified, the appraiser will adjust for the specific differences. For instance, does the target home have an upgraded kitchen or swimming pool? They add or subtract value based on such things as location, view, lot size, upgrades, additions, condition and many other factors. They can then arrive at a valuation for the target home.

Once the appraisal has been completed, the lender is notified of the value. At this point, the loan amount is either confirmed or declined. If the appraisal comes in too low, the principals can choose to make up the difference in sales price, lower the sales price or cancel the transaction.

Appraisals are not as complicated as they appear. By learning about recent sales in your area ahead of time, you can price your home appropriately up front; then the appraisal should come back as expected.

Market Report Update: Mecklenburg County's June 2019 Stats

by Mayes Harris Team

It is time once again to take a look back at yet another page on the calendar. This month we begin by reviewing Mecklenburg County's June 2019 Stats.

Let's dive a little farther than this starting with the Median Sales Price in June. If we look back at 2017, we see a median sales price of $274,500. The following year, 2018, that price increased by +2.0 percent to $280,000. In 2019, we increased again by +10.0 percent to a median sales price of $308,000 in Mecklenburg County.

Next, we are going to review the number of New Listings that came on the market in Mecklenburg County in June. We start with 2 years ago, 2017, and see that there were 1,857 new homes that came on the market. The following year, 2018, there was an increase of +0.8 percent with 1,872 new homes coming on the market. This year, 2019, there was a decrease of -4.5 percent with only 1,787 homes coming on the market.

The next statistic we will review is the June Median Days on Market. Starting in 2017, we saw 7 median days on the market and then the following year, 2018, we stayed the same with again 7 median days on the market. In 2019, we increased by +14.3 percent to 8 median days on the market.

So there you have it. A quick overview of what is happening in our local market of Mecklenburg County. If you have questions or need real estate assistance than please reach out to us. We would love to help you!!

Tips to Save for a Down payment

by Mayes Harris Team

Are you thinking about buying a new home? Gone are the days of 100% financing with zero down payment. So if you are not sitting on a pile of cash, the idea of finding the money to pay the down payment might feel daunting. But there are simple ways to raise the cash needed to get into a new home.

Assess Your Current Assets - The first step is to determine what cash you might have available right now. Do you have a savings account or perhaps a 401k*? Are you nursing a pet project, like a vintage car or motorcycle, which could be sold for additional cash?

Explore Loan Options - Not all home loans require the typical 20% down payment. FHA and VA loans are available for qualified buyers which allow a very low/no down payment.

Ask For Help - Some loans allow you to use gift funds from relatives for the down payment. There are also local and state programs which offer down payment assistance and second loans.

Employment Incentives – Some cities and counties offer help with buying a home for teachers and first responders. If you fall into one of these categories, speak with your lender about options for down payment assistance.

Buying a new home is a great way to add to your financial security. Building equity with a property is one way to build wealth while providing for you and your family. Finding the down payment might be easier than you think. If you are ready to explore home ownership, meet with a lender and discuss your unique situation.

Displaying blog entries 1-10 of 246

Syndication

Categories

Archives

Subscribe to our blog for the latest in real estate news.