Here are 3 Reason Why We Aren’t in a Housing Bubble

I’m often asked by home buyers and sellers if we are in a housing bubble here in the Charlotte market. In the 20 years I’ve been in business I’ve seen lots of market up’s and down’s and here’s my take on what’s happening now, here.

Home prices are being driven up with bidding wars and a lack of inventory, and that can be scary. So scary in fact that it may discourage some folks from looking to buy a home now, afraid that we are in a housing bubble.Here are 3 reason that this market is TOTALLY DIFFERENT than the housing bubble we experienced just over a decade ago…

𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝘀𝘂𝗽𝗽𝗹𝘆 𝗶𝘀 𝗲𝘅𝘁𝗿𝗲𝗺𝗲𝗹𝘆 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 Inventory of homes for sale is currently running at less than 1 month, a historic low. A healthy inventory is about 6 months, and in 2008 we were actually up to as high as 11 months inventory.

𝗛𝗼𝗺𝗲𝗯𝘂𝘆𝗲𝗿𝘀 𝗮𝗿𝗲 𝗺𝗼𝗿𝗲 𝗰𝗿𝗲𝗱𝗶𝘁𝘄𝗼𝗿𝘁𝗵𝘆 In 2008, when the housing market crashed, mortgage standards were at an all time low for credit scores and down payment requirements, as well as proving income and assets to purchase. Current guidelines are much stricter, making the borrowers more financially secure.

𝗛𝗼𝗺𝗲𝘀 𝗵𝗮𝘃𝗲 𝗲𝗾𝘂𝗶𝘁𝘆 Homeowners were pulling out equity back in 2008, causing many to be upside down. This time around equity levels are extremely high, meaning that homeowners could see values decline slightly without concern.

I’m available to share with you how this is a great time to consider buying or selling a home, especially as values continue to increase. Reach out to me anytime!

Chrystal Safari Roy | Leading You Home

Chrystal Safari Roy Chrystal@TheSafariGroup.comText 704.562.1030

#CharlotteRealEstate#realestate#homebuyingtips#realestateadvice #TheSafariGroup.com#BuildYourWealthThroughRealEstate

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Is It Ordinary Wear and Tear, or Damage?

~ As a Landlord, there are the usual expenses in cash flowing a property which is the cost of doing business.  From the time the home is acquired until it’s rented, costs include acquisition costs to restoring habitability to updating, depending upon the overall objective of the landlord, and different levels of updating that may be desired.  Providing a safe and habitable abode is the goal to obtain and keep long-term tenants.  Once the tenant is placed, ordinary wear and tear is a landlord expense.  Damage or excessive filth isn’t.

A habitable structure is a safe structure that has met minimum building codes, and can be occupied in reasonable comfort.  Although standards vary by region, the premises should be closed-in against the weather, provide running water, access to decent toilets and bathing facilities, disposal of wastewater, provide heating, and electricity. Particularly in multi-dwelling buildings freedom from noxious smells, noise and garbage are included in the standard. (http://legal-dictionary.thefreedictionary.com/habitable)

So, once the property meets the definition of habitable structure, what is ordinary wear and tear, and what is damage?

Ordinary Wear and Tear (OWT) and Landlord Responsibility VS Damage or Excessive Filth, the Tenant’s Responsibility:

1. Moderately worn carpet, vinyl and tile is OWT; burns, holes, breaks or stains is Damage

2.  Small holes from hanging pictures, OWT;  numerous or large holes from hanging shelves, accidents or carelessness is Damage

3.  Dents in wall from door handle, OWT; Door off hinges or missing handles or hardware is Damage

4.  Faded Paint is OWT;  stains, drawings or unapproved painting is Damage

5.  Burned out oven heating elements is OWT;  Burned out oven heating elements caused by food debris catching fire is Damage

6.  Warn gaskets on refrigerator doors is OWT; Broken refrigerator component or shelf is Damage

7. Moderate dark patches of soil on reasonably worn hardwood floors, OWT; water stains is Damage

8.  Warped cabinet doors is OWT; Sticky cabinets and interiors is Damage

9.  Moderately dirty mini-blinds, OWT; missing, stained or broken mini-blinds is Damage

10.  Cigarette smoke residue or fumes is Damage

11.  Garbage disposal that quits operating due to motor dying, OWT; Garbage disposal that breaks a because of a foreign object lodged inside is Damage

12.  Laminate top separated from countertop base, OWT; Burns, chips and breaks is Damage

13.  Loose door handles is OWT; missing or broken door handles is Damage

14.  Failed toilet parts, but no cracks in the toilet or stoppages or blockages is OWT;  cracked, breaks or problems caused by flushing foreign objects is Damage

15.  Loose faucet handles is OWT; broken faucet handles or missing drain plug or other parts is Damage

16.  Some electrical issues may be OWT; electrical damage caused by overloading the circuits or other tenant activity is Damage

17.  Worn out switches, OWT; broken or missing switches is Damage18.  Loose deck or fence components, OWT; Broken deck or fence pieces or parts is Damage

19. Loose stair banister or handrail, OWT; missing stair parts is Damage

20. HVAC concerns related to age of unit, OWT; problems caused by dirty or missing filters or abuse or misuse is Damage

21. Animal droppings left in the yard, and damage to landscaping by animal droppings or urine is Damage.

~ This list is by no means a complete and comprehensive list.  Based on what features are included in a home, there may be other items to consider.  Ordinary wear and tear should not be charged to the tenant or deducted from the security deposit.  Damages should be charged to the tenant or deducted from the security deposit.

Feel free to share this list with your tenants and your preferred Maintenance Professional so that everyone is aware of what is and isn’t covered by the landlord.

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Chrystal Safari Roy Leading You Home…

Chrystal Safari Roy has over 20 years experience in personal property management and residential real estate sales and is a licensed REALTOR® in North and South Carolina.  As a MASTERS Designation holder, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, and is a multi-million dollar producer.  Chrystal is a member in good standing of the Charlotte Regional Association of REALTORS®, North Carolina Association of REALTORS®, and National Association of REALTORS®.

 

Market Monday Update – Charlotte Homes

Weekly Market Activity Report

For Week Ending April 18, 2015

(Data current as of April 27, 2015)

More Homes Hit the Market in the 2nd Quarter Than All Year Long

You may have been browsing the internet for a home to buy once yours sells and not found what you like. There’s good news and bad news. The bad news is if you’re a seller and waited until the second quarter you’re going to have a lot more competition. The good news is that you’ll have a lot more selections available for your move in or move up neighborhood in the next 30 – 60 days because more homes hit the market in the 2nd Quarter than all year long!

Call me to set up a time to discover why Giving Tree Realty is the preferred brokerage firm in Charlotte for THE top sellers in our area, and how my marketing plan can help you get significantly more money for your property by correctly preparing it for market.

The Roy Group Home Selling Team is at your service.

In the Charlotte region, for the week ending April 18:

• New Listings increased 6.2% to 1,246
• Pending Sales increased 46.7% to 1,141
• Inventory decreased 19.8% to 13,214

For the month of March:

• Median Sales Price increased 9.9% to $189,000
• List to Close decreased 2.2% to 133
• Percent of Original List Price Received increased 1.5% to 94.6%
• Months Supply of Inventory decreased 26.0% to 4.1

This research tool is provided by the Charlotte Regional Realtor® Association.  For more information, contact me, Your Full time REALTOR®.

T  E  S  T  I  M  O  N  I  A  L

I highly recommend Chrystal Safari Roy and The Roy Group Home Selling Team. In the selling and purchasing of our home she worked with us for over 9 months, even before we were sure about selling and re-purchasing. With her input we were able to sell our home in 7 days.

In the purchasing of our new home Chrystal was very patient and extremely knowledgeable. Chrystal took us thru several neighborhoods and areas and providing us with great feedback and input on what is a great investment and purchase for our family.

Chrystal has a great knowledge of real estate, including national markets and international markets. Chrystal was born and raised in the area; she has lived aboard and has strong ties to the international communities here in Charlotte.

Chrystal has provided us with so much information, I think it would be worth your time to just take a couple of minutes and speak to her about what you and your family’s needs and desires are in your new home.

Desi and Dinika Collins Bryant South Charlotte

Contact us for all your real estate needs.  Chrystal Roy 704.562.1030 / MyAgentChrystal@gmail.com

The Safari Group Launches New Foreclosure Help Division

CHARLOTTE, NC – Nov 01, 2014 – REALTOR® Chrystal Safari Roy, Broker in Charge, and The Safari Group of Charlotte, NC are proud to announce the addition of a new foreclosure relief division to their real estate practice earlier this month. Carolinas Foreclosure Help division expands the practice due to its continued growth and commitment in delivering quality customer service combined with the latest strategies to assist home owners in the sale of their homes and to assist new home buyers in purchasing homes at a great value in the Charlotte, Fort Mill, Waxhaw and Weddington areas for a growing number of clients.

Chrystal Roy is owner of the local boutique real estate firm and has been a REALTOR® for 14 years practicing real estate in the Charlotte Metro area for that time.  She is licensed in North and South Carolina. The Safari Group is a full service brokerage firm specializing in listings, sales, tenant procurement and rental portfolio development.  Her mission with the new division follows years of experience with clients who attempted to avoid foreclosure on their own, falling victim to the banks’ superior knowledge and know-how, is to educate customers and clients on all aspects of real options for home owners who are in distress leading to a smoother transition from a home owner at risk of foreclosure, to avoiding foreclosure and the credit and tax liability that comes with it.  In addition to pre-foreclosure counseling, Mrs. Roy will make recommendations on approaches to renewed home ownership as a part of the client’s recommended recovery plan.

The Safari Group’s website, TheSafariGroup.com, and its associated blog include information on how customers can, not just get the most out of their financial situation, but avoid the decade-long stigma of foreclosure and also how they can help themselves speed up credit recovery times.

“I’m happy to be part of debt relief and recovery in the Charlotte and surrounding areas, and to be part of Mr. and Mrs. Homeowners’ solution to foreclosure at such a difficult time for their families,” said Mrs. Roy. “In my years of experience, there’s never been such an advocate for homeowners with approaches that both avoid foreclosure for the homeowner and provide a quick opportunity for returning to home ownership.”

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Chrystal Safari Roy has over 20 years experience in personal property management and residential real estate sales and is a licensed REALTOR® in North and South Carolina.  As a MASTERS Designation holder, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, and is a multi-million dollar producer.  Chrystal is a member in good standing of the Charlotte Regional Association of REALTORS®, North Carolina Association of REALTORS®, and National Association of REALTORS®.

How to Get a Mortgage Loan with Limited Credit

It’s difficult, but not impossible, to get a mortgage loan with limited credit.

YOUR HISTORY

Full application must be provided to your loan officer to request the exception from the underwriter, who provides a pre-qualification letter to submit to the builder or seller. You must have had excellent rental history for the past 12 months with no late payments to a verifiable source who can provide a Verification of Rent Form. Please make sure you always pay with traceable funds such as money order or check, even if it’s to good ole mom and dad.

ALTERNATE TRADE LINES

There must be one other trade line on your credit report that’s reporting to the credit agencies to show that you are paying your bills on time, such as an auto loan in your name. An additional 2 alternate lines of trade may also be necessary, such as gas, electric or other utilities that are in your name and paid on time.

LIMITED, BUT NOT BAD, CREDIT

The caveat is that although you have limited credit, it must also be good. There can be no medical collections, no foreclosure, no bankruptcy, no other collections and no judgements on your credit report to qualify. When all is said and done, you’ll qualify for market interest rate with having a middle credit score of just 600. With all these conditions met, you would qualify for an FHA loan. The FHA loan will include PMI (Private Mortgage Insurance), but if you play your cards right, within 2 years with a steady rate of employment and paying your bills on time, you would qualify to refinance with a Conventional loan and eliminate the PMI.  For help with connecting to the right lending officer who can get you moving in the right direction, give me a call.  704.562.1030

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LOCAL. HANDS ON. HOME GROWN.

Personal Best Buyer’s DEAL?! I got my client $100,000 off of a house listed at $500,000 including upgrades that was new construction, not out of the ground yet! The secret was timing. Call me to see what DEAL I can make for YOU!

After being hung up on while still a college student by a REALTOR who had determined I didn’t make enough money to qualify for a purchase, I dedicated myself to grooming prospective clients to attaining the American Dream of home ownership. Whether you’re making that first move from mom’s place, recovering from financial loss or finally ready to own your own home, call me. I can help! Several months after that rude REALTOR hung up on me, I found a builder who would work with me and my husband, and we built our first home together!

As an experienced real estate consultant in the Charlotte Metro Area market over 19 years, I have the expert tools you need to help you reach your real estate related goals – IN THIS MARKET. I am experienced with meeting the relocation needs of local, national and international clients and investment portfolio development. My experience as a Marketing and PR Exec with broad experience in all aspects of print, radio, internet, email and out of home marketing assures your property listing stands out in the crowd.

Why Do I Do What I Do?

LOCAL. HANDS ON. HOME GROWN.

After being hung up on in college by a REALTOR® who had determined I didn’t make enough money to qualify for a purchase, I dedicated myself to grooming prospective clients to attaining the American Dream of home ownership. Whether you’re making that first move from mom’s place, recovering from financial loss or finally ready to own your own home, call me. I can help!

As an experienced real estate consultant in the Charlotte Metro Area market over 19 years, I have the expert tools you need to help you reach your real estate related goals. I am experienced with meeting the relocation needs of local, national and international clients and investment portfolio development. My experience as a Marketing and PR Exec with broad experience in all aspects of print, radio, internet, email and out of home marketing assures your property listing stands out in the crowd.

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Chrystal Safari
Leading You Home…

Chrystal is a REALTOR® and principal of The Safari Group, a local, homegrown real estate firm, specializing in all phases of the residential and small business real estate market, including New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, Foreclosures, Short Sales, and Luxury Homes and GREEN Features.  She is one of the fewer than 30 internationally recognized EcoBrokers® in the Charlotte Metro Market, offering guidelines to assist home buyers and sellers in evaluating true green features and their benefits to real property value, home ownership, tax savings and mortgage closing table capital contributions.  Chrystal is backed by certified and insured professionals to assess and protect your energy utilizing investments.  Contact her at 704.562.1030 TXT/PH or Chrystal@TheSafariGroup.com

Why are Some Homes in Your Neighborhood Not Selling?

There are three reasons a home will not sell.

1.  PRICE

One reason a home fails to sell is price.  Right pricing is critical to a making the sale versus having a listing.  Though you and I didn’t create the market, the market controls price.  In every market, right pricing is important.  Pricing reflects the perceived and true values of a property and is based on many factors including location, condition, method of build, curb appeal, floor plan desirability, and materials used, to name a few.

Within a given neighborhood, prices range depending on all the factors mentioned above, including recent sales values established by buyers, supported by appraisers.  A property is only as valuable as what a buyer’s willing to pay for it.

 

2.  SHOWINGS

You have maximum control over showings, with the ability to prevent and counter all showing objections.  The greater limits you put on showings, the fewer buyers will be able to see your property to consider it for purchase.  Ideally, you’ll have no restrictions as to when and for how long a showing is scheduled, with no advance notice needed, but sometimes life doesn’t work that way.  If you do need to block off times or require advance notice, such as 24 Hours Notice, before approving a showing, be flexible when possible.  When an agent schedules a tour, you might have a problem with agents who have tight tour arranged for clients whose schedules might not permit revisiting your listing before a decision is made.

It’s always best to live by the 10 Minute Rule when listing a house for sale.  That means, if you can’t put it away in 10 minutes, don’t bring it out.  And while you’ll most likely still need to cook, eat, entertain, and well, live, while your property is listed, keep in mind that holidays bring in a lot of visitors who are interested in moving and who might find a holiday the perfect time to tour.   If you’ve decorated for the holidays, what better way to show off your property!  Flexibility and readiness are the keys to a successful showing.

3. Marketing

The National Association of REALTORS® study shows nearly 90% of buyers begin their home search online before they consult a REALTOR®.  37% found the actual house they purchased online.  It’s been nearly a decade since LA Times discontinued its real estate section of the newspaper.

My job is to expose your listing with the best possible photos and copy to the agents and buyers who are ready, willing, and able to make the purchase.

Great exposure includes Agent to Agent marketing, including electronic and paper flyers, virtual tours, REALTOR and office meetings, and constant communication.  Once your property is shown, follow up is essential.  If not on the buyer’s top 3, I ask this question:  “Is there a price at which your clients would buy this house?”

My Buyer-Targeted online marketing includes my brokerage website, the local MLS Board members-only website, and over 320 local, national and international portals such as Zillow.com, Craigslist.org, etc., and social media outlets such as twitter, linkedin, facebook, blogs such as wordpress, ActiveRain and others, signs and flyers, Open Houses, and neighbor-to-neighbor advertising, and other networking, in addition to strategic print advertising.   The goal is to get your listing in the top of google and other search engine searches.  I’m specially trained to do just that.

I know you’re thinking that because of everything that I do, much more than what other agents do, that it would be more expensive.  It doesn’t cost you anything more to list with me than with an agent who only puts the listing in the computer.

If you’re in my market and are seriously considering hiring a real estate agent who specializes in getting homes sold quickly and for a high price, give me a call.  You’ll be glad you did.

 

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I love what I do, I’m good at it, & I’d love to work with you! My personal best is 8th with foreclosure bid; we not only won (it was NOT more $), but listing agent complimented me on my complete package, & asked permission to use my secret weapon!

My listing was on Google, first page, number three position, ‘above the fold’ within minutes of my blog post featuring it!

Chrystal is a REALTOR® and principal of The Safari Group, a local, homegrown real estate firm, specializing in all phases of the residential and small business real estate market, including New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, Foreclosures, Short Sales, and Luxury Homes and GREEN Features.  Contact her at 704.562.1030  TXT/PH or Chrystal@TheSafariGroup.com

TheSafariGroup.com

FOR IMMEDIATE RELEASE

CHRYSTAL SAFARI ANNOUNCES THE LAUNCH OF HER NEW REAL ESTATE FIRM, THE SAFARI GROUP

May 12, 2010 (Charlotte, NC)  Chrystal Safari, real estate broker and principal, announced today the launch of The Safari Group, a local, homegrown real estate firm, specializing in all phases of the residential and small business real estate market, including New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, Foreclosures, Short Sales, and Luxury Homes.

The Safari Group consults on all aspects of real estate ownership from acquisition to liquidation, portfolio development, and property management.  As an internationally recognized Certified EcoBroker®, Chrystal offers guidelines to assist home buyers and sellers in evaluating true green features and their benefits to real property value, home ownership, tax savings and mortgage closing table capital contributions.  Chrystal is backed by certified and insured professionals to assess and protect your energy utilizing investments based upon your personal needs.

Seasoned homeowners Rick and Scherel Fisher shared, “Chrystal’s suggested listing price had us a showing and an offer within hours of the house being listed.  We had no trouble getting an adequate appraisal for the house and added on closing costs.  She helped us get to closing with difficult buyers with bad credit that we could have never managed on our own.  We highly recommend her real estate services.”

About Chrystal Safari:

Chrystal Safari has over 16 years experience in personal property management and residential real estate sales and is a licensed REALTOR® in North and South Carolina.  As a MASTERS Designation holder, she is a specialist in New Construction, Finance, Marketing, Objection Handling, Relocation, Technology, and is a multi-million dollar producer.  Chrystal is a member in good standing of the Charlotte Regional Association of REALTORS®, North Carolina Association of REALTORS®, and National Association of REALTORS®.

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Contact:

Chrystal Safari
The Safari Group
PO Box 1192
Pineville, NC 28134
704.562.1030
http://www.ChrystalSafari.com

EcoUpdate: An ENERGY STAR qualified light [bulb or fixture] prevents more than 400 pounds of greenhouse gas emissions over its lifetime, the equivalent of keeping nearly 200 pounds of coal from being burned. (Energy Star 2008)

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