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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.

Tips for Selling in Summer

by Mayes Harris Team

Summer has traditionally been the best time to sell a home. Not only do many families take advantage of moving when the kids are out of school, but in climates where winter weather is unpredictable or severe, the warmer months make it easier to be away for showings. With more homes on the market, how can you maximize your potential for a great offer among the options? Fortunately, you can take a few steps to ensure your home stands out from the crowd.

Tips for Selling in Summer

  • Control the Climate – The first thing a buyer will notice when they walk into a home is the temperature. If the weather is warm and humid, it’s critical you keep the home cool. A larger air conditioning bill is a small price to pay for a top dollar offer.
  • Let in the Sun – It might be tempting to close the blinds to save money on air conditioning, but bright, sunny rooms are always more appealing; leave enough open to showcase natural light.
  • Extend Outdoors – Today’s lifestyle includes the outdoor areas and more and more homes feature outdoor living and dining areas. Regardless of your home’s features, maximize the impact of your yard with furniture, BBQs and manicured landscaping.
  • Spring Clean – A fresh, decluttered home with a lighter, seasonal color scheme will be visually appealing to your buyers. Replace dark pillows, linen and accents with softer colors which make the rooms seem larger.

The summer selling season is here. Make sure your home is dressed for success. Welcoming outdoor spaces and bright sunny rooms combined with inviting an air conditioned rooms will ensure you get the best possible offer.

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!

Displaying blog entries 1-10 of 238

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