Posted by: Roby Robertson | October 8, 2009

Lake Norman News And Notes

Lake Norman Real Estate Tips

1.  Do not list your home with an agent because they will list it at the price you want.

The fact that an agent will list at the price you want does not change the market value of the home.  Listing it too high can even put you in a bad position with potential buyers that are sitting back and watching you periodicaly drop your price. 

2.  Buying a Lake Norman foreclosure at the court house steps might not be your best option.

Scenario 1: You go to the courthouse and make an offer.  The requirement is that any offer you make is at least 5% greater than the last offer in the books.  Also, write a check for 5% and give it to the clerk of court or register of deeds.  Wait 10 days.  9th day someone upsets your bid.  They wait 10 days.  You go back and up the bid another 5% and so on…

Scenario 2:  The bank has the high bid at the courthouse.  Withing 30-60 days, bank lists home with an agent.  You make an offer of 20% less than asking price with 2% down.  Bank counters at 15% less than asking price!  This may end up as a better deal.  It is certainly worth considering.

Do you really ‘Trust’ your Realtor

Earning and meriting my Client’s trust is no easy task. It takes real, genuine effort. It demands that I have a current working knowledge of real estate law and its related practices. It necessitates an intimate understanding of our ever-changing local markets. It requires the ability for me to compile, analyze, and interpret data, and thereby empower my Clients to make intelligent, informed decisions.  It also requires that I return phone calls.

Are Lake Norman short sales really worth it?

Did you know that Lake Norman agents are more and more avoiding short sales like the Swing Flu?   These are the most frustrating of all Real Estate Transactions.  They can take months to close and by percentage, have the lowest close rate of any other Lake Norman real estate transaction!  While they sometimes are better deals, sometimes they aren’t.  Be sure you agent is onboard with you finding the right one and being diligent through the process.

Would you like to have some input into how the Denver NC area should be developed ?

Area residents will have an opportunity to meet with the Lincoln County Planning Board and the Lincoln County Planning and Inspections Department at the first of two public involvement sessions on October 13.
County officials will discuss and receive comments concerning the proposed Development District for the newly adopted Unified Development Ordinance (UDO). This first meeting will be from 7-9 p.m. at the Unity Presbyterian Church Fellowship Hall located at 8210 Unity Church Road in Denver. For additional information contact: Kelly Atkins, Director, 704-736-8726

Thinking of Selling that High End Home, Think Twice ?

Our high-end market is suffering in part due to the difficulty getting jumbo loans.  You might want to sit tight unless things are getting to a critical point in your personal situation.  For the first 10 months of 2007, 91 Lake Normnan homes sold priced starting at 1,000,000.  In 2008, 51Lake Norman homes sold in the same price point.  Currently in 2009 the number is 39.  More telling is the percent of sold price to list price.  In 2007 it was 96%, in 2008 it was 94% and to date in 2o09 it 89%.

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