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Qualifying for a Loan – What do I need to qualify?

by Mayes Harris Team

Before you start searching for your new home, the first step is to speak with a lender and determine your budget. This is being pre-qualified for a loan. Once you find the right home, then your lender will order an appraisal of the property and complete your financing. If this is your first home purchase, or if it’s been awhile since you’ve purchased, understanding how to prepare for the qualifying process is the first step to success.

What do I need to qualify for a home loan?

When preparing for your meeting with the lender gather all the pertinent documentation and bring them with you. Generally speaking, your lender will want to see 2 months of employment pay stubs and bank records as well the past 2 years of tax returns. After reviewing your income and savings, the lender will also order a credit report which shows all your recurring debt and payment history. This will be used to determine your ability to pay the proposed mortgage.

How does credit, down payment and income affect my ability to get a loan?

There are a variety of loan programs available and your lender will review all your options with you so you can determine the best program. Some government guaranteed loan programs, such as the VA or FHA, are more lenient with your credit score requirements as well as other qualifications, such as savings and income ratios.

Qualifying for a home loan might feel overwhelming, but your lender can walk you through the process and requirements. After learning your options, you can make the best financial decision for your new home loan.

Living Room Trends

by Mayes Harris Team

The living is room one of the most used rooms in your house and its style is essential in welcoming your guests as they step foot in this space while also expressing who you are.

This article will help you discover the latest trends in living room design while also adding some new features that make your home unique to you.

Bold Plants
Situating big plants into your living room can make eye-catching statements. However, be mindful of how much sunlight and water they need, and let that guide you on where to place them in your living room.

Painted Ceilings
Homeowners are starting to become daring as they are taking into consideration painting the ceiling of their rooms. When choosing to paint, keep in mind the 10-30-60 rule. For example, 60% is the main color of the room taking most of the walls and large accent furniture. The 30% is the secondary color that takes up about half of the color in the room and includes items like draperies and small accent chairs. The remaining 10% is the accent color and takes up the colors in your throw pillows and other
small decorative pieces.

Bold Colors
Colors like burnt orange, deep red, blues, and navy are becoming popular when decorating. Make sure there is balance by adding more neutral colors such as white or gray.

Geometric
Geometric patterns are becoming popular in livings rooms by using them in coffee tables, carpets, and wallpapers. They will make a room more alluring and aesthetically pleasing. You can also incorporate this pattern on your floors or even a large area rug.

Multi-Functional Spaces
The “less is more attitude” is also making a statement. Your living room can incorporate furniture that can be used for other purposes, such as using an ottoman as a storage place. Your living room can also serve as a tiny bedroom by getting sofa beds.

Metallic
Bronze, chrome, gold have the touch to make your living room look luxurious. One of the ways to incorporate them is through your furniture with metallic legs and other minimal decorative objects.

It really boils down to making your home unique to you and thereby showcasing who you are. Don't be afraid to consult with an interior designer. They can help you develop your taste.

Market Report Update: Mecklenburg County's May 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 May 2019 Stats.

Let's get started with the Median Sales Price in May. If we look back at 2017, we see a median sales price of $259,000. The following year, 2018, that price increased by +10.8 percent to $287,000. In 2019, we increased again by +3.5 percent to a median sales price of $297,000 in Mecklenburg County.

Next, we are going to review the number of New Listings that came on the market in Mecklenburg County in May. We start with 2 years ago, 2017, and see that there were 2,038 new homes that came on the market. The following year, 2018, there was an increase of 1.8 percent with 2,074 new homes coming on the market. This year, 2019, there was another increase of 3.2 percent with 2,141 homes coming on the market.

The next statistic we will review is the May Median Days on Market. Starting in 2017, we saw 6 median days on the market and then the following year, 2018, we saw an increase of 16.7 percent with 7 median days on the market. In 2019, we increased by 28.6 percent to 9 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!!

Negotiating for Top Dollar

by Mayes Harris Team

Selling your home? Every seller wants to make sure they sell their home for the best possible sales price. Getting top dollar for your home is not as complicated as you might think. By using a simple negotiation strategy, you can make sure to receive the best price for your home listing.

The first step in a negotiation strategy begins before you even list your home. Choosing the right real estate agent and listening to their advice regarding home value is important. Choose a realistic list price; over-pricing to “test the market” is not only a waste of time but as the listing ages on the market, buyers are more likely to write lowball offers.

Once you receive an offer; review and respond to all reasonable offers. Never assume that a buyer isn’t serious just because the offer is lower than you’re willing to accept. Make a reasonable counter offer; if you are motivated to lower your price, you can, but if not, countering with a full price number is acceptable also. Just make sure your price is fair for the actual value of the home.

Consider compromising on terms. Often you can negotiate a higher sales price if you are flexible on other terms. Does the buyer need extra time to close/move? Would they like to have the garage shelves or patio furniture? Win-win situations do not have to involve compromising on price.

All negotiations are different, but by setting the proper stage and calmly navigating through offers, you can make sure you sell your home for the best possible sales price. Getting top dollar for your home is a simple strategy of fair pricing and unemotional negotiations.

Market Report Update: Mecklenburg County's April 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 April 2019 Stats.

Let's get started with the Median Sales Price in April. If we look back at 2017, we see a median sales price of $330,296. The following year, 2018, that price increased by +10.1 percent to $363.784. In 2019, we increased again by +2.4 percent to a median sales price of $372,512 in Mecklenburg County.

Next, we are going to review the number of New Listings that came on the market in Mecklenburg County in April. We start with 2 years ago, 2017, and see that there were 1,953 new homes that came on the market. The following year, 2018, there was a decrease of -3.5 percent with1,884 new homes coming on the market. In 2019, there was a slight increase of+2.7 percent with 1,934 new homes coming on the market.

The next statistic we will review is the April Median Days on Market. Starting in 2017, we saw 6 median days on the market and then the following year, 2018, we saw an increase of -16.7 percent with 7 median days on the market. In 2019, we increased to 11 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!!

5 QUICK Ways to Get Your Home Ready To List In Today's Market!

by Mayes Harris Team

You do not have to break the bank to get your home in tiptop shape before listing it. I've come up with a list of 5 QUICK ways to get your home ready to list in today's market, and here they are!

1. Cleaning. That's right, but I'm not talking about a simple cleaning, I'm referring to a deep clean. Think Spring cleaning. You want to make sure that every window is washed and baseboards are dusted. Here's a great resource  - The Ultimate Spring Cleaning Checklist.

2. Declutter.  Now is the time where less is really more. You don't want people to walk into your home and be overwhelmed with knick-knacks, collectibles, and personal memorabilia. These are things to pack away or donate. Of course, I have another resource for you - The Ridiculously Thorough Guide to Decluttering Your Home

3. Landscaping. Your landscaping is essential as it is what will entice people to come into your home, and it lets them know if you maintain your property in a way that shows them you appreciate it. First impressions do matter, and there are little things that will make a significant impact on buyers. Check this out. Landscaping Tips That Can Help Sell Your Home

4. Small projects. We all have been known to live with certain things for so long that we don't even see them. For example, the doorknob that doesn't work anymore or the cracked tile in the kitchen or the leaky faucet. These type of things can usually be remedied by the homeowner. If buyers walk through your home and find these things, then they start to wonder what else has the homeowner neglected.

5. Call a REALTOR©. You want to call your real estate professional as soon as possible. An excellent real estate agent/broker can also help you know what you need to do to prepare your home for listing. They will know what the current competition is and how far you must go to make your home stand out.

I hope this has helped you, but do let me know if you have any questions or if you know someone interested in buying or selling in the Mecklenburg County area. I'd love to help!!

Priority Tasks When Moving In

by Mayes Harris Team

You did it. You moved into a new home you love and now you’re dreaming of how you’re going to decorate it. But before getting into all of that, there are still some other tasks that need to be at the top of your priority list.

Changing the Locks
Double check them even if you’ve been told that there are new locks installed. It’s better to take safety measures and know that no one else has keys to your home. Call in a locksmith if you want to spend a little money or it can be done yourself.

Call an Exterminator
A great exterminator can take care of any pests that have been lurking in your home.

Get the House Cleaned up
If it isn’t already, clean out the refrigerator, wipe down counters, cabinets, oven if needed, and plumbing fixtures. Prior occupants might have had pets or young children so it’s best to steam clean. This will free your floors of any junk or allergens.

Mechanical Equipment Cleaned
Getting your heating and cooling systems cleaned is crucial and make sure to get a service contract just in case it stops working suddenly.

Get some Closet Organizers
Keep in mind where everything is going to get placed so it can be accommodated in your closet space. A shelf or a coat hook can go a long way for making room for organization.

Meet the Neighbors
You want to reach out to your neighbors as soon as possible. It’s good to establish yourself within the community and you can get advice on some home repairs like which plumber to use.

Having these as priorities will help you move into a clean, working home. And then, you’re ready to move in with all your belongings and start making it yours!

Top Tips for House Hunting Online

by Mayes Harris Team

Hunting for a new home online a is a great place to start your search but
keep in mind that you don’t see everything. Real estate agents are great at
highlighting the features of a house listing online but to make the most of
your time, keep these three things in mind:

Identify your Housing Needs
Preferences are important when house searching. A house may not have
everything you want but it will have most of the things. Be realistic about
pricing and keep in mind the must-have items that will definitely be needed
because this will help narrow your search.

Stay up to Date
When you start your search, make sure you go to sites with up-to-date
Listings directly from the multiple listing service. Realtors post their most
current homes for sale through this. Many sites fail to remove Listings that
are already off the market, and this can lead to you trying to sort through
them and find the recent ones.

Pictures can be Deceiving
Photographers capture Listings at their best. They use different strategies
and tools to boost the appeal of the home like creative editing and
expensive camera equipment known for its effects. What they don’t show is
unappealing parts, like an undone bathroom or small closet.

Go See The Listing After
After you have chosen a house that’s appealing to you, schedule a showing
with your real estate agent. This is the opportunity to see every part of the
house in person and see if it’s a good fit.

Searching online is a great way to learn more about the house you’re
looking for. Even if you’re still unsure about moving, house hunting online
gives potential sellers the basic information.

Make Reservations In Mecklenburg County This Mother's Day!

by Mayes Harris Team

Mother's Day approaches and I thought I would focus this week's blog on special local places to take your mothers or the mothers to your children. Let's get started. Please note, these are non-chain restaurants and that's what I thought I would feature. 

North Harbor Club located 100 N Harbor Pl, Davidson, NC 28036. Call (704) 896-5559 to make reservations and I would reserve as soon as you can. This is a popular hot spot with the locals and the surrounding residents. They will be serving brunch on Mother's Day along with a few of their signature dishes and classic favorites. 

 

Dressler's Restaurant located at 8630 Lindholm Dr, Huntersville, NC 28078. Call (704) 987-1779 to make reservations and again, reserve as soon as you are able. This is yet another popular spot. It is known as an upscale steak & New American fare which is served in a refined storefront setting with a sidewalk patio.

 

131 Main has 3 different locations, but the one I'm specifically featuring is located at 17830 N. Statesville Road, Cornelius, NC 28031. This is their original location. Click here for RESERVATIONS. Here's a description taken from their website, "distinctive low country Charleston feel is obvious when you first step through the front door. The gas lamps, plank siding, outdoor dining veranda, fire pit and a full view of the open kitchen and hickory wood fire grill are warm and inviting."

 

Let's start with these 3 restaurants and build. What's your favorite local place to take Mom on Mother's Day? I would love to add to this list. 

Calling All Beer Lovers! Did You Hear D9 Brewing's Exciting News?

by Mayes Harris Team

D9 Brewing is a local Lake Norman area business which opened in 2014. It was started by 2 engineers and 1 doctor with a mission to inspire and support the community through the creation of exciting and original crafted ales. They've been awarded multiple prestigious medals in the sour and mixed-wild categories at the Great American Beer Festival in 2016-2018. Read more by visiting their website - d9brewing.com

Okay. Let's get to the reason for this blog and that is they have announced they will be opening a second location in Charlotte and bigger news than that is it will be built around a 5,000 square foot concert pavilion and beer garden!! Doesn't that sound great!

Had to share the local news with my followers! Have a wonderful day!

 

 

 

Displaying blog entries 1-10 of 235

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