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How Much Does It REALLY Cost To Move?

The dollars and cents that go into moving vary greatly depending on a number of factors.

Making the decision to move can be an exciting time, whether you’re moving across town or across the country. But it can also be a milestone surrounded by uncertainty: am I making the right decision? How will my kids adjust to a new school? Will I like my new neighborhood?

According to the US Census, 11.2 percent of Americans moved in 2016, for reasons related to housing, family, and employment. And there’s one question pretty much everyone who is thinking about moving asks: How much will it cost to relocate?

There are all kinds of moving expenses to keep in mind, including changes in cost of living, balancing two mortgages (or a mortgage and rent) during the transition, and the cost of actually getting all your belongings from point A to point B. Here’s some information about average moving expenses to help you make sense of it all.

Estimating moving costs

Roughly half of all people who move use professional movers, whether they’re moving short or long distances.

These are average costs for moving, according to HomeAdvisor. Of course, prices vary by region and by distance.

Type of move	Average charge	Extra charges
Local/intrastate (under 100 miles, including 2 movers + truck)	$80-$100 per hour	+ $25-$50 extra per additional mover
Interstate/cross-country (over 100 miles)	$2,000-$5,000 per move	+ $0.50 per pound

How much does it cost to move across town?

Local moves make up the vast majority of people moving every year. According to Zillow research, 57 percent of home buyers who also sell a home move within the same city, and 86 percent move within the same state.

For local moves, you’ll typically pay an hourly rate that includes a truck and the services of two movers. The bigger your home, the longer your move will take.

Consider these estimates from HomeAdvisor.

Size of house	Estimated time of move	Average price range
1-bedroom apartment	3-5 hours	$200-$500
2-bedroom apartment	5-7 hours	$400-$700
3-bedroom house	7-10 hours	$560-$1,000
4-bedroom house	10+ hours	$800-$2,000+

How far in advance should I book local movers?

Keep in mind that most people move between May and September, so you’ll want to book your movers at least four weeks ahead of time. The earlier you book, the more likely you are to get the day and time that works best for you, and the more likely you are to get an experienced crew.

The least expensive days to move are Monday-Thursday. In the off-season (October-April), you can often book movers with only one to two weeks’ notice.

How much does it cost to move across the country?

While local movers typically charge by the hour, for a cross-country move you’ll likely be charged based on two key variables: weight and distance.

Weight

Before the move, the empty truck is weighed, and your mover should provide you with an “empty weight” receipt. Then, once all your belongings are loaded, they’ll weigh your truck again to help them determine your moving cost.

Have no idea how much your belongings weigh? Reputable movers will give you an estimate before you sign on the dotted line, using average weights for homes of your size (more on estimates later).

For example, the goods inside a 1,000-square-foot, 3-bedroom apartment typically weigh about 5,000 pounds. A 2,800-square-foot, 4-bedroom home’s furnishings typically weigh in at around 20,500 pounds.

Distance

Simply put, the farther a moving company has to transport your belongings, the higher the bill will be. You’ll likely be charged a per-mile rate in addition to the weight-based charges. Make sure to ask if there are any additional transportation charges, like fuel or tolls.

How far in advance should I book movers for a long-distance move?

For an interstate or cross-country move, you’ll want to book your movers as early as possible — ideally six to eight weeks before your move.

Movers loading moving truck — Moving costs vary depending on factors such as the number of belongings, the length of the move, and the services provided.

Typical moving expenses

Whatever kind of move you’re planning, the moving expenses you’ll incur will vary based on the level of service you’re looking for:

Just a truck rental: The ultimate DIY move, in this scenario you’ll be doing the packing, loading, transportation, unloading, and unpacking on your own, with just the help of a rental truck. Flat per-day rates start at around $20 per day, depending on the size of the truck, plus charges for gas and mileage.
Loading, transportation, and unloading: Save your back by doing all the packing and unpacking yourself, but have professional movers do the heavy lifting. For a local move, this service can range from $200 for a one-bedroom apartment to $2,000+ for a 4-bedroom house.
Full-service moves: Leave everything to the pros, including wrapping and packing your belongings, loading them, transporting them to your new home, and unloading. You’ll just be responsible for unpacking your belongings and getting settled. This type of move is usually used for long-distance moves. Expect to pay roughly $2,000-$5,000 for the transportation, plus about 50 cents per pound, plus $25-$50 per hour, per mover for packing and unpacking help.
Temporary storage: If your moving dates don’t line up exactly, you may find yourself needing to temporarily stash your things in a storage unit or moving container. Storage facility rates start at about $50 per month for a small unit, and go up to $300 or $400 for larger units. If you’d like the convenience of a portable storage unit that’s delivered to your home, loaded by you, and stored in a warehouse until you’re ready for re-delivery, expect to pay $150-$300 per month, plus delivery and re-delivery costs.
Moving supplies: Instead of buying and then recycling boxes, you can go green and rent hard plastic boxes for your move. Prices start at about $50 per week for enough boxes to pack a 1-bedroom apartment, and up to $200 to pack a large house. Once you’re done, the rental service will pick up the boxes. To save money on cardboard boxes, check your local “buy nothing” group or moving truck rental company, which often have used boxes on hand.

Additional costs of moving

When calculating your relocation budget, make sure to keep in mind these unexpected moving costs:
A transportation surcharge if the moving company pays workers more for working in metropolitan areas, where labor costs are often higher.
You may opt to purchase full value protection insurance. Released value protection is typically included by movers at no cost, but the protection is minimal — just 60 cents per pound per article lost or damaged.
Charges for moving vehicles, including cars, boats, and motorcycles.
Surcharges for moving large or fragile items — think swing sets, pianos, extra-large furniture, or riding lawn mowers.
Additional charges if the movers have to walk more than 75 feet from door to truck, or if they need to use stairs or an elevator.
Additional charges if your street is too narrow to accommodate a moving truck and they’ll need to shuttle your belongings with a smaller truck.
You may find yourself paying unexpected moving costs if there’s a delay in the availability of your new home and the moving company has to put your items into storage.

Moving cost agreements

Any reputable moving company should provide you with a quote before your move, using the industry-standard rate book published by the Household Goods Carrier Bureau, called the Tariff 400-N. There are two main types of moving quotes:

Non-binding estimates are the industry standard. They reflect the company’s best guess as to what your final bill will be, but they can often be inaccurate. Whenever possible, opt for not-to-exceed quote.
Not-to-exceed estimates are quotes where the moving company commits to a maximum price.

Family unpacking belongings after moving — To avoid being surprised by high moving costs, ask your movers to provide a not-to-exceed estimate.

Get moving

When it comes to moving, the best way to limit your costs (and to keep your sanity) is to move quickly. The faster you’re out of your old home and into your new home, the less you’ll pay in movers, rented supplies, storage costs, and — most importantly — overlapping mortgage payments or rent.

Related:

Originally published July 2012; data updated March 2018.

Millennials Spend About $93,000 on Rent by The Time They Hit 30! Wow! That’s a lot of money to lose!

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Millennials Spend About $93,000 on Rent by The Time They Hit 30. Don’t be one of them. Call me if there is someone that you think that I can help become a home owner today, so they can stop throwing their money down the drain- and paying off their landlord’s mortgage (instead of their own)! Read the article, below!

Author: Florentina Sarac (reprinted with permission)

We all know Millennials. They’re the resourceful, creative youngsters who grew up with the latest technology and who are big fans of music festivals and avocado toast. Known as a generation of renters, many Millennials find renting more affordable and hassle-free than buying. But that’s not the only reason they don’t buy. At a time when they should be able to focus on their career, settling down and having a family, Millennials are still going through the stress of student loan debts while at the same time struggling to pay rent.

The cost of renting is a huge subject nowadays and a big expense as well, arguably the biggest it’s ever been. We were curious to find out exactly how much Millennials spend on rent before the age of 30 and if it’s true that they’re more rent burdened than previous generations. In our quest for more information, we turned to U.S. Census to shed some light on this topic and looked at each generation’s total income and total rent paid for an 8-year period (from 22 to and including 29 years of age). Specifically, we looked at the median income representative for the ages analyzed, rather than the median income of the overall population, because people in their 20s, with limited experience in the workforce, typically have a lower income than those over 40 who are at the peak of their careers. Our analysis refers to single people paying a median rent on their own, and all amounts were adjusted to 2017 prices.

Our study comes to show that yes, Millennials do carry the weight of a very heavy rent burden and pay a ton of money on rent.

With a rent burden of 45%, Millennials pay $92,600 in total rent

Millennials pay a whopping $92,600 in total rent by the time they turn 30, more than what their Baby Boomer parents paid by the time they hit the same age. It seems that Millennials do put a massive amount of money into renting, but the numbers also show that their total median income is the highest among generations, earning about $206,600 in 8 years. However, they spend 45% of this income on rent between the ages of 22 and 30, which is more than the recommended 30%. In fact, none of the two previous generations managed to keep the rent burden under 30% with Gen Xers witnessing a rent burden of 41% and Baby Boomers of 36%.

Both Gen Xers and Baby Boomers made less money than Millennials but they also spent less on rent. Gen Xers spent a total of $82,200 on rent when they were in their 20s, and they earned about $202,100. The same is true for Baby Boomers as they earned $195,700 while $71,000 of that went towards rent.

Besides the heavy rent burden, there are several other reasons why Millennials witness such big financial challenges. One of them is the ever-increasing student loan debt, which many economists blame as the reason Millennials aren’t able to buy homes. Millennials do make more money than any other generation before them, but they’re also said to be spending more on things that are not necessarily essential, like Uber rides, pricey coffee or eating out. At the same time, spending habits depend very much on where they live, and as many Millennials prefer urban areas and big cities, this can only result in higher costs.

Millennials earn and spend more on rent than any previous generation

To better illustrate this, we compared Millennials’ income and rental amounts paid before turning 30 to those of the two previous generations.

With a total of $92,600 spent on rent before hitting 30, Millennials pay a striking $21,600 more than what Baby Boomers paid during the same 8-year period. At the same time, Millennials boast a total income of $206,600, almost $10,900 more than the $195,700 that Baby Boomers earned between the ages of 22 and 30. It’s worth noting that the rent difference between Millennials and Baby Boomers is twice as big as the income difference.

As for the Gen Xers, they had an income of $202,100, about $4,500 lower than that of Millennials. Some might say that compared to Gen Xers, Millennials have had it easier so far. Given the fact that Gen Xers were in their 30s and 40s when the U.S. housing market crashed in 2008, most of them witnessed the full force of the aftermath. As a result, many were no longer able to buy and were forced to turn to renting. However, if we compare the rental amounts paid by Gen Xers and Millennials between the age of 22 and 30, we’ll notice that the latter paid $10,400 more on rent. An explanation for this could be the rents that have gone up since the housing crisis.

Younger Millennials pay more rent than older Millennials

Our analysis also found that younger Millennials, now aged between 22 and 29 years old, have had to pay a larger amount of money on rent than older Millennials, now aged 30 to 40. Younger Millennials are paying a median rent of $97,400 before turning 30, while older Millennials paid about $90,500, almost $7,000 less than younger Millennials. The two demographics were impacted by both the recession and social factors in a way that pushed them to rent longer than any other previous generation.

As far as the rent burden goes, there’s a visible difference between younger Millennials and older Millennials. With a rent burden of 47% between the ages of 22 and 30, younger Millennials surpass older Millennials who spent about 44% of their income on rent during the same period of time. The high rent burden carried by younger Millennials is mostly due to the increase in the median rent paid. While it’s true that their income was $3,400 higher than that of older Millennials, they also paid $6,900 more in rent.

By the time they hit 30, Generation Z will have paid over $102,000 on rent

Baby Boomers, now in their 60s and 70s, paid the lowest rental amount of $66,900 before turning 30. Following an ascending trend, the rent amount increased by about $5,000 to $8,000 each decade. If rents continue to go up at this rate, Generation Z, now aged around 20, will be paying a staggering $102,100 on rent by the time they hit 30.

As Gen Zers are starting to look for their very first apartments, they are bound to bring about some changes in the housing market. We’re talking about a highly visual cohort, which was born and grew up in the internet era. Although not very different from Millennials, Gen Zers are more tech savvy and highly reliant on technology. As a result, their future homes will have to meet their technological needs. Expected to be a more sedentary generation, industry experts say that they will no longer require amenities like swimming pools or fitness centers but computer labs and game rooms. Technological updates are likely to drive monthly rents further up, therefore Gen Zers should expect to pay more in order to get more.

Given their overwhelming student loan debt, younger Millennials may carry on renting, simply because the prospect of buying is not yet attainable. On the other hand, older Millennials are starting to slowly shift towards home ownership. As they are finally catching up with the American Dream, this will surely drive demand for homes for sale. Their lifestyle patterns so far show that Millennials need affordable homes with attractive amenities. As they’re starting to form families, they’ll soon be ready to put their hard-earned money into their own home.

Methodology:

RENTCafé is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.
Using the most recent Census data, our research team analyzed the rents and incomes across the United States during certain time periods. Relevant income data was available starting with 1974 while rent data was available starting with 1940. The income amounts represent the median gross income per capita and the rental amounts represent the historical median gross rents. The data was adjusted to 2017 prices, using a cumulative rate of inflation for each year.
We based the total income on the following age brackets provided by Census: ages 15 to 24and ages 25 to 34.
We used the following year-of-birth ranges for each generation: Baby-Boomers – born between 1946 and 1964, Gen Xers – born between 1965 and 1976, Millennials – born between 1977 and 1995 and the Gen Z generation – born starting with 1996.
We added up the data from an 8-year period for each generation (for the years they were aged 22 to and including 29), we calculated the median amount of money that each generation spent on rent and the median income they earned during the same period. The final data presented in this study was obtained by rounding up the numbers to the nearest hundred.
The study refers only to single people paying the median monthly rent on their own.

Fair use and redistribution

We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to RENTCafe.com or this page, so that your readers can learn more about this project, the research behind it and its methodology.

Florentina Sarac

Florentina is a creative writer for RENTCafé currently absorbed in the mesmerizing real estate world. She enjoys spending the majority of her time reading books, traveling and watching way too many movies. You can connect with Florentina via email: florentina.sarac@yardi.com.

IF YOU HAVE QUESTIONS ABOUT HOW TO BECOME A HAPPY HOMEOWNER, CALL US OR CONTACT US ANYTIME!

Kristen Haynes, Broker In Charge, GC, CMRS: 704-905-4062 or Toll Free: 1-877-372-2252

Email: khaynes@newhomesnc-sc.com

Web: www.NewHomesNC-SC.com

Radon In Homes- What Are The Risks?

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What Is Radon?

Radon gas is colorless, odorless and tasteless radioactive gas. It is formed by the breakdown of uranium, a natural radioactive material found in soil, rock and groundwater.

What Is The Threat of Radon?

Radon is the second leading cause of lung cancer after smoking. In the United States, the EPA estimates that about 21,000 lung cancer deaths each year are radon related and in Canada that number stands at approximately 3000.

How Does Radon Get Into The Home?

When radon is released from the ground into the outdoor air, it gets diluted to low concentrations and is not a concern. Within homes, it typically moves up through the flooring system and other openings between the ground and living spaces. Your home traps radon inside, where it can build up. Any home may have a radon problem – this means new and old homes, well-sealed and drafty homes, and homes with or without basements. Even if you live in an area with fairly low environmental radon, you could still have significant levels in your home.

What Are The Radon Threshold Limits?

Organization
Becquerel per cubic meter
Picocuries per litre

World Health Organization
100 Bq/m³
2.7 pCi/L

Environmental Protection Agency (USA)
150 Bq/m³
4.0 pCi/L – The USA standard is 4.0 Pico Curie Liters or less-

Health Canada
200 Bq/m³
5.4 pCi/L

Why

Should I Test for Radon?

Radon testing is the only way to know if you and your family are at risk from radon. Radon is a radioactive gas that has been found in homes all over the United States and Canada. Any home can have a radon problem. This means new and old homes, well-sealed and drafty homes, and homes with or without basements. In fact, you and your family are most likely to get your greatest radiation exposure at home because that is where you spend most of your time.

Nearly 1 out of every 15 homes in the United States and Canada is estimated to have an elevated radon level. This may be higher in your local area, contact your Realtor for a recommendation for a licensed radon Inspector or your local health department for localized information.

How do Licensed Radon Home Inspectors Test for Radon?

In a real estate transaction, the Home Inspector conducts a short term test using a continuous monitor to provide a snapshot of the home to see if it has elevated levels of Radon. Testing takes approximately 2-3 days and results are provided, interpreted and the report is sent directly to the client.

If you’re buying a home, both the EPA and Health Canada recommend you have a radon inspection along with your home inspection. Homeowners who are planning on selling their home can also show potential buyers proof of a radon inspection, which is a good idea as radon gains more awareness.

Reason for Using Continuous Monitors Versus Charcoal Canisters in Testing Radon

Employs internal sensors to detect and report movement during test.
Interval information logged to determine environment around the monitor was not altered.
Records evidence of tampering such as movement and sudden change in environment.
Report is available immediately with no need for shipment or reading of anything by a lab.
Faster for use in real estate transactions with a short transaction period.

Radon Questions and Answers

My home was built on a slab. Could I still have radon?

Yes, homes built on a slab can still have radon. Whether the home is old, new, insulated or not and regardless of construction materials it can have radon. All homes regardless of type of construction should be tested for radon once per year per the EPA and Health Canada.

We are moving to a new area soon and are buying a home. We recently looked at a Radon Map with zones on it and see that some areas are not in a high risk zones. Should we still test our home for radon if not in a high risk area?

Since radon levels can change from town to town and even from home to home, radon maps should not be considered the definitive source for radon level information. The EPA and Health Canada suggest all homeowners test their home for radon even if they are not in the high risk zone and that the map should not be used in lieu when there is a real estate transaction. In fact, a home can test high for radon even if the house right next door tested low. Radon is more prevalent in some areas more than others- in mountainous or outlying areas, and more in basement than non-basement excavations. Sometimes Radon could test high when dirt has been recently disturbed (such as when building a new home, for example), and it can dissipate over time- or increase.

We recently had our home tested for radon and it came back high when tested in the basement. As long as we spend little to no time in the basement, is the radon really dangerous to us?

Yes, having a high radon level in the basement can affect you in other areas of the home by the gas moving through the home via air ducts for air conditioning and the furnace, as well as natural convection.

Which homes are more likely to have higher radon levels, new homes or old homes?

All homes regardless of new or old, single or multi story, slab or with basement can have radon.

The home we bought has a radon mitigation system in it. Do I need to still test my home for radon levels?

Yes, even if a home has a radon mitigation system in it, you need to test your home for radon as the EPA and Health Canada suggests. Regular testing will ensure that the radon mitigation system is working effectively.

We have granite countertops in our kitchen and our bathrooms in our home. Will this increase the amount of radon in our home to an unsafe amount?

While the EPA and Health Canada suggest all homes should be tested for radon it also believes that currently they have insufficient data to conclude that the types of granite commonly used in countertops will significantly increase the indoor radon levels. Both EPA and Health Canada believe that the radon from granite will be insignificant.

Does it matter what time of year I test my home for radon?

No, testing can be done at any time of the year. Testing does require the home to have all of its windows and doors kept closed during the test, but central heating and air conditioning can operate. If the windows and doors cannot be kept closed during the test, it would be best to wait until the conditions allow for it.

I’ve heard radon testing is expensive. Are the risks significant enough to justify the test?

Radon testing is done by a professional and at a relatively minor cost. Tests cost less than a few hundred dollars, and knowing the results should bring you significant peace of mind.

Our radon level came in very close to 4.0 pCi/L (the US standard) or 200 bequerels (Canadian standard) and we see that’s well above the World Health Organization standard of 2.7 pCi/L (100 bequerels). Should we take steps to lower the level even though it’s below 4.0 pCi/L?

Less radon in your home is always better. Both the EPA and Health Canada recommend taking action above those levels, but for your own peace of mind, you should consider mitigation systems at any significant level of radon. Consult with your radon professional for more advice.

My home is built over a crawl space. Do I need to have it tested for radon?

Yes, all homes need to be tested for radon. Radon can still enter the home through floor penetrations and the HVAC system and accumulate to elevated levels in the home.

How can radon affect my health?

The only known health risk associated with exposure to high levels of radon in indoor air is an increased lifetime risk of developing lung cancer. The risk from radon exposure is long term and depends on the level of radon, how long a person is exposed and their smoking habits. If you are a smoker and are exposed to elevated levels of radon your risk of developing lung cancer increases significantly.

How much will it cost to mitigate my house?

The cost of reducing radon in your house depends on how your home was built and the extent of the radon problem. The average radon remediation process, typically done using a contractor, will cost between $1500 – $3000. The cost is much less if a passive system was installed during construction. There are also less expensive radon mitigation systems available through most big box hardware stores (such as Home Depot and Lowes), though most Realtors recommend a professionally installed system so you will have the peace of mind that the system is working at top efficiency.

I am a smoker. Does radon affect me more than a non-smoker?

Yes. The risk from radon exposure for a smoker (including those exposed to second hand smoke) is much greater than for a non-smoker. For example, if you are a lifelong smoker but are not exposed to radon, your risk of getting lung cancer is one in ten. If you add exposure to a high level of radon, your risk becomes one in three. On the other hand, if you are a non-smoker, your lifetime lung cancer risk at the same high radon level is only one in twenty.

Are children more at risk from radon than adults?

Children have been reported to be at greater risk than adults for certain types of radiation exposure, but there is currently no conclusive data on whether children are at greater risk than adults from radon.

What about drinking water that contains radon?

Research has shown that drinking water that contains radon is far less harmful than breathing radon. When the ground produces radon, it can dissolve and accumulate in water from underground sources, such as wells. When water that contains radon is agitated when used for daily household requirements radon gas escapes from the water and goes into the air. The health risk is not from ingestion but from radon inhalation.

If you would like more information on Radon visit:
USA: www.epa.gov/radon

Kristen Haynes, Realtor / Broker NC / SC, BIC, GC, CMRS

Direct: 704-905-4062

Toll-Free: 1-877-372-2252

Email: khaynes@newhomesnc-sc.com

Web: www.NewHomesNC-SC.com

Garage Door Security Tips To Prevent A Break In Or Theft

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October 14, 2015

Garage Door Security Tips to Prevent A Break In Or Theft

You have checked all the windows to make sure they are closed and locked, doubled-checked the doors, let the neighbors know you are out of town, informed the mail so it does not pile up out front, and activated all the passive security systems in your home. However, one area is often overlooked as you pull out of your garage and leave; the garage you just left.

The modern-day garage is a favorite place for thieves to gain access to your home.

There are three main types of garages that your home may have and each one requires its own safety measure. The first two are attached garages, and they can be divided into two categories: 1) the front of the house garage that faces the street and 2) the rear garage, which is out of view from the street.

The third type of garage is the detached garage. It is particularly dangerous if it is not secured properly because it allows a staging ground for thieves to enter the premises.

Here are a few pieces of advice that will help protect your home:

Use Your Garage. Park your car inside the garage when it is not being used or if you are leaving by other means. Many people leave their garage door opener in their car and all it takes is something like a broken window in your car, which can give a thief access to your home. To combat this, you can also make sure to remove the remote if you leave your car outside of the garage.

Disable the Electric Motor. If you are leaving for an extended period of time, detach your electric garage door opener. This is usually a very simple thing to do. Most electric garage door openers have a rope or chain you pull down to disconnect the electric motor from the chain that operates the door. This protects you in two ways. First, if a thief used a frequency scanning device to obtain your code, it will be of no use since it is not operable. Second, it would require a thief to physically go to the door, which the neighbors could see.

Bolt It. Use a manual sliding bolt-style lock on the inside of your garage door that can only be opened from the inside.

Keep It In Good Condition. Make sure the garage door is properly functioning and that there is no damage to the panels which a thief can use to get in.

Keep It Contained.– Do not leave important items in the garage and make sure to lock the door into your home. If thieves do break into the garage, you want to make sure that is all they can access. Place a deadbolt and anti-kick device on the door which leads to the garage from the home on a connected garage.

For the detached garage make sure you follow the same principles as if it was connected to your home. If the garage is out of view it is even more important. Most importantly, do not keep valuables in your garage.

Kristen Haynes, Broker In Charge, GC, CMRS

Platinum, Multi Million Dollar Producer, Selling Carolinas Real Estate since 1992

Direct: 704-905-4062 Toll-Free: 1-877-372-2252

Email: khaynes@newhomesnc-.com Web: www.NewHomesNC-SC.com

http://www.fivestarprofessional.com/profiles/281817

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Should We Get A Loan Pre-Approval Or A Loan Pre-Qualification?

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July 24, 2015
Copyright 2015 New Home Buyers Brokers / Realty Pros

WHAT’S THE DIFFERENCE BETWEEN A LOAN PRE-APPROVAL AND A LOAN PRE-QUALIFICATION?

There is a big difference between obtaining a full “loan pre-approval” or having a quick “loan pre-qualification” letter from your lender.

1. Your pre-approval letter is far more reliable than a pre-qualification letter. Receiving a basic loan pre-qualification letter is easy. You simply provide basic financial information to a lender and wait a few minutes for the letter to be sent back to you. Obtaining a “pre-qual” from a random mortgage website is just as easy- just enter some information, click “submit” and voilà you are pre-qualified.

A pre-approval letter, on the other hand, involves verification of the information. Rather than taking your word on faith, the lender will ask for documentation to confirm your employment, the source of your down payment, and other aspects of your financial circumstances. Granted, a pre-approval is more time-consuming than a pre-qualification, but the additional due diligence is exactly why the pre-approval carries more weight with sellers when submitting an offer.

Think of the difference between and IOU note and an actual check. With the first, a seller hopes that they can count on your offer to be valid and with the second, they know that your offer is backed by the word of your lender. When the home you want is on the line, you don’t want to take chances against other, stronger offers.

2. You know how much money you can borrow. You likely have a rough idea of how much you would feel comfortable paying each month for your home mortgage. However, there’s no effective way to translate that monthly payment into a specific maximum mortgage amount because other factors such as down payment percentage, mortgage insurance, property taxes, adjustable interest rates and so on may not be part of your original calculation. Being pre-approved takes the guesswork out of how much you hope to borrow depending on your income, debts and credit history.

3. You will have more leverage when negotiating with the seller! Sellers prefer to negotiate with pre-approved buyers because they know you are financially qualified to obtain the loan needed to close on their home. You will feel more confident about making your offer with a pre-approval letter and that can make all the difference in negotiating the price and extras! A pre-approval letter is an especially favorable point in a multiple offer situation.

4. Your real estate agent will consider you a serious buyer and will be prepared to go to contract immediately when you find the right home. A pre-approval letter signals to your real estate agent that you’re a well-qualified buyer who is serious about purchasing a home and that they need to be prepared to write up an offer at any time. The increased likelihood of a closed sale, and not just months and months of “hauling and hoping” will naturally motivate your agent to devote more time and energy to you, rather than to less serious, qualified buyers.

5. A pre-approval doesn’t take more of your time, but changes the order in which you send in your paperwork. Obtaining pre-approval is simply starting the paperwork earlier – it’s not extra paperwork. It also alleviates stress after you make an offer. In order to buy your home, you will have to collect all your financial documents for your loan officer. Whether you do that before you find a house, or wait until the pressure is on once you are under contract is up to you.

Nick and Susan in front of NHBB sign

Here are some additional tips on things to avoid during the home buying process to assure your transaction goes as smoothly as possible:
• Don’t apply for new credit of any kind
• Don’t close credit card accounts
• Don’t max out or over charge existing cards
• Don’t consolidate debt
• Don’t change or quit job
• Don’t make any large deposits into accounts
• Don’t make any large purchases
• DO stay current on existing accounts

Our Agents here at New Home Buyers Brokers / Realty Pros have been selling Carolinas Real Estate since 1992. We have the experience and know-how to educate you on all things necessary for you to find, build, mortgage and buy the home of your dreams. We’ll explain the process and will be there to guide you every step of the way.

Call or contact us today to get any questions answered about the mortgage loan or home buying process!

charre16_photoemblem_kristen-haynes_l Kristen Haynes, Broker In Charge, GC, CMRS

Realtor / Broker NC / SC since 1992 Platinum, Multi Million Dollar Producer

Direct: 704-905-4062 * Toll-Free: 1-877-372-2252

Email: khaynes@newhomesnc-.com * Web: www.NewHomesNC-SC.com

START YOUR HOME SEARCH, TODAY!

Are you shopping for a new home online? I’d like to introduce you to the Home Buyers Scouting Report® (HBSR) provided by Home Buyers Marketing II, Inc. With the HBSR you can search for all the available homes for sale in this market that match your personal search criteria.Click on the link, below, to start your search or contact me for more information.

Please call us or use the contact form, below, for additional information or with questions on the home buying or mortgage pre-qualification or pre-approval process:

New, Tougher Appraisal Guidelines Are Coming Soon, Courtesy Of Fannie Mae And Freddie Mac!

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February 28, 2014

Taken from an excerpt written by Hank Miller, SRA

While you slept, the appraisal industry had yet another “check” placed upon it: Collateral Underwriting. Weeks into it appraisers are adjusting, but the warnings are clear; appraisers must have justification for everything in the report. Opinions? Fuggettaboutit – did you agents and sellers hear that?

Regulations state that appraisal adjustments cannot be based upon an appraiser’s opinion. According to federal and state law, adjustments must be based on support and evidence – proof if you will, and an appraiser’s opinion is not considered to be “support.” Many appraisers have failed to support their adjustments and as a result have had their licenses revoked, penalties assessed and lawsuits lost, all because the they failed to understand a single but important requirement. – Richard Hagar, SRA

So what’s the impact on home buyers and sellers AND agents? It’s pretty simple and the basic tenant hasn’t changed – provide tangible data to support value and adjustment positions. What has changed, is the noose that’s even tighter on appraisers. Fannie Mae defines Collateral Underwriting as:

Collateral Underwriter (CU) is a proprietary model-driven tool developed by Fannie Mae that provides an automated appraisal risk assessment to support proactive management of appraisal quality. Fannie Mae will make CU available in 2015 to provide transparency and help lenders more effectively and efficiently identify issues with appraisals.

In case you missed it, reread the first sentence and note the word “automated”. The marble mouthed government speak is best said as “appraisals will be reviewed by software to validate adjustments and comparable selection”. Boil it down even further, most understand a “zesstimate” and most are also annoyed when they complete one on their home. A zestimate is an AVM – defined as:

Automated valuation model (AVM) is the name given to a service that can provide real estate property valuations using mathematical modelling combined with a database. Most AVMs calculate a property’s value at a specific point in time by analyzing values of comparable properties.

Right. In simple terms, it’s a computer program that “analyzes” data to arrive at an estimated market value. There are obvious fundamental flaws using computers for this – real estate is perhaps the most unique entity in the world, no two parcels or homes are alike and conditions behind a sale are never the same.

So if you as a seller or your agent feel that changing the cabinet pulls adds $7500 or replacing the gold “brass look” ’88 bathroom strip light adds $2000, bring something to support that. That condo on the 10th floor is worth $75000 more than the same exact units on the 5th and 6th floor? Support it.

The idea that “checks” are going to be made by computer programs is completely asinine – the unique nature of real estate precludes this type of blanket research. However, the appraisal organizations allowed this to occur and this has been in motion for years. Collateral Underwriting involves more than this but the end result is clear: an appraiser’s opinion, agent’s opinion or seller’s opinion is not considered to be “support”.

charre16_photoemblem_kristen-haynes_l

Kristen Haynes, Broker In Charge, Realtor, NC / SC, GC, CMRS

Says Kristen from New Home Buyers Brokers / Realty Pros, www.NewHomesNC-SC.com: “I would argue appraisals in truth serve no purpose in residential real estate transactions. Market value is and should be defined as what a ready, willing and able buyer will pay for the property. Appraisals have always served only one, true purpose: to supply the bank a scapegoat if they end up foreclosing and then can’t get the property sold for what’s left outstanding on the mortgage. Yet, “Automated Appraisal “reviews are allowed, and even encouraged? Don’t make me laugh- they are as pointless as automated estimates of value (think Zillow’s Zestimates)-utterly worthless. Just sayin’. we have been fighting low ball appraisals for years after the banking fall out, due to Appraisers not wanting to get in trouble with the feds due to what was the new federal HVCC rules (we call in HAVOC in the business). We have a socialistic system that doen’t allow lenders to choose the best, local or most experienced appraisers- we have appraisers sfrom Salisbury chosen to come down into Indian Land, or appraisers who don’t know how to value new construction doing appraisals that they can’t “find comps” for (call the builder, most “to-be-builts” never hit the MLS, as they are built for a particular homeowner, unless they are a “spec” or cancelled contract. So now, more regulations, when we are just starting to see Appraisals get more realistic?” What’s your opinion?

SEARCH HOMES FOR SALE OR SOLD HOMES FOR FREE IN CHARLOTTE, NC AND CHARLESTON, SC- AD AND SPAM FREE!

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Curious about what homes have sold for in your neighborhood? Or are you “thinking about” looking for a new home or selling your current one? Most people don’t know that Zillow, Trulia, and even Realtor.com are not “HOME SEARCH” sites- they are MARKETING sites. EVERY TIME that you log in to search for a home or a value, they “SELL” your contact information and email address to the highest bidder! Hello, SPAM! Many people also don’t realize that Zillow and Trulia also only show… 50 % of the homes available on the market, and their information is usually old or inaccurate, to boot! Here’s a better way to search-guaranteed accurate and spam free. Your information will NOT be sold and you can search here safely, right from the curb in front of any home, or on your desktop. Check out everything that is selling around you and even get a up to date monthly “Home Sold” marketing alert so you can keep up with what is selling around you! Search for homes in your desired cities, neighborhoods, counties and zip codes. Save homes you like to your “Favorites” and any time something changes, like a price reduction or market change, you will be notified. Tap on the “Find Homes Near Me” on your phone’s GPS and pull up every home’s MLS sheet and all selling / sold prices that are comparable within a ten mile radius, including the one you are in front of! Tap on the “Agent” tab, and contact me right away for immediate information on any house, or to schedule an immediate appointment before someone else makes an offer. I am using this as much as my own MLS- and it’s more user friendly! You will have access to direct, accurate, on time MLS feeds, just like Professional Realtors, PLUS courthouse and foreclosure sales that never made it into the MLS that other people don’t know about or have to dig to find. It’s 100 % Free, and Ad and Spam free, guaranteed! You can search all Charlotte, NC and Charleston, SC area listings. SIMPLY GO TO YOUR APP OR PLAY STORE ON YOUR SMARTPHONE, AND DOWNLOAD THE “HOME SCOUTING” APP. THEN ENTER MY REFERRAL VIP CODE: 7049054062. Create your own anonymous user name and password, and you’re off to the races!

FREE DOWN PAYMENT ASSISTANCE AND GRANTS ARE NOW AVAILABLE FOR NC RESIDENTS TO HELP YOU BUY A HOME!

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FREE DOWN PAYMENT ASSISTANCE PROGRAMS ARE NOW AVAILABLE IN NORTH CAROLINA FOR QUALIFIED HOME BUYERS!

If your income or the need for down payment assistance has kept you out of the housing market, our home buyer programs can give you the boost you need to own a piece of the “American Dream”!

If you need help with the down payment and closing costs, you may qualify for interest-free, deferred, forgivable second mortgages up to 3% of your down payment or other benefits by using a Qualified Realtor / Broker and Lender, or other assistance programs!

Our Real Estate firm, New Home Buyers Brokers and Realty Pros is one of the qualified Brokers in North Carolina who has the knowledge and experience to help you get FREE Down Payment Assistance to stop throwing your money way in rent and to help you buy the home of your dreams! To see if you qualify for one of the programs, call: Kristen Haynes, Broker In Charge, GC, CMRS at New Home Buyers Brokers: 704-905-4062 (Direct) or 1-877-372-2252 (Toll Free).

”Helping You Find Your Way HOME”!

www.NewHomesNC-SC.com or khaynes@newhomesnc-sc.com

Here are some of the available programs that you may qualify for:

The N.C. Home Advantage Mortgage™ offers competitive interest rates along with down payment assistance and reduced PMI rates to save you money on your mortgage payment every month, on top of the down payment, which is up to 3% of the mortgage loan amount for FHA borrowers (which normally will cover almost all of the required down payment), and 2% for Conventional borrowers. This down payment is fully forgiven after 15 years. This can be combined with the Mortgage Credit Certificate, for a “double home buyer bonus”!

The Mortgage Credit Certificate (MCC) enables first-time buyers to save up to $2,000 a year on their federal taxes.
For both first-time and move-up home buyers, the NC Home Advantage Mortgage™ provides qualified individuals with stable, fixed-rate mortgages and down payment assistance up to 5% of the loan amount. Even better, repayment of the down payment is required only if you sell, refinance or transfer your home before year 15—the down payment assistance is forgiven at 20% per year after 10 years in the home.
As an added bonus, if you are a first-time buyer or a military veteran, you may also be eligible to combine this program with aMortgage Credit Certificate (MCC) to increase your savings even more! We offer these products statewide through participating lenders.

The House Charlotte Program provides 10-year, deferred, forgivable loans to qualified Funds can be used to cover your down payment, closing costs, as well as for interest rate buy downs.

NACA provides credit counseling services, home ownership classes and grants for those who qualify.

The Good Neighbor Next Door Program is a federal housing program administered by HUD, for Police Officers, Firefighters, EMTs, and K-12 Teachers that offers up to a 50 % discount on the appraisal value of homes in specially designated “revitalization areas”, as well as “One Hundred Dollar Down” homes that qualify for FHA financing.

The N.C. Home Advantage Mortgage™

Available with 30-year, fixed rate FHA, VA, USDA and conventional mortgages, the N.C. Home Advantage Mortgage™ is a perfect match for buyers looking for safe, affordable financing. The mortgages offer competitive interest rates, lower PMI and MIP mortgage insurance rates (saving you more in your mortgage payment every month in MIP and PMI fees), AS WELL AS the FREE down payment assistance. These programs can be STACKED with other assistance programs for eligible borrowers (Charlotte Housing Partnership or NACA funds, VA loans, or other programs and grants available statewide in North Carolina.

Repayment is required only if you sell, refinance or transfer the home before year 15 of the loan – the down payment assistance is forgiven at 20% per year after you live in the home for 10 years, and fully forgiven at 15 years.

For more information on the Home Advantage Mortgage, click here: http://www.nchfa.com/home-buyers/interest-rates

Am I Eligible For The NC Home Advantage Mortgage With Down Payment Assistance?

You may be eligible for an N.C. Home Advantage Mortgage™ if:

you are buying a new or existing home;
you are a first-time OR a move-up buyer;
you buy a home in North Carolina and occupy it within 60 days of closing (this is not for investors who will not occupy the residence as their principal home;
you don’t exceed the income limits for the person on the loan (not the entire household, as in MCC);
you are applying for a FHA, USDA, VA or conventional loan through a Participating Lender and meet the sales price limits of the loan type;
you are a legal resident of the United States, and;
your credit score meets the basic requirements for the program.
If you choose an FHA, VA, or USDA loan, you will get 3 % towards your down payment. With conventional loans, you will receive 2 % towards your down payment.
The down payment can be “stacked” with other federal and state programs and with additional seller concessions towards closing costs, if you qualify, Seller concessions are limited to 3 % with Conventional loans, and up to 6 % with FHA loans.
Click the link below to see if you qualify via the income limits in your area: http://www.nchfa.com/home-buyers/income-limits

What Properties Are Eligible For This Free ‘Down Payment Assistance’ Program?

New and previously owned single family homes
Townhouses
Condominiums*
Duplexes*
Manufactured Homes (only new, never occupied, doublewide or greater manufactured homes on permanent foundations)*

*These property types are only available for FHA, VA and USDA loans, not conventional loans.

The Mortgage Credit Certificate (MCC)

If you are a first-time buyer and meet certain income and sales price limits, you may be eligible for a Mortgage Credit Certificate (MCC) worth up to $2,000 a year in tax savings. This federal tax credit can lower your income-tax liability, dollar-for-dollar, leaving you more money to use toward your mortgage. If you qualify, you will be able to claim 30% of the interest you pay on your mortgage if you purchase an existing home or 50% of the interest for a new home (never occupied) – up to $2,000 for every year you live in your home – as a tax credit on your federal income taxes.

MCCs can be combined with the N.C. Home Advantage Mortgage™ and other “stacked, eligible programs”, increasing the savings on your new home – as well as with any other qualifying lender mortgage program, including some adjustable rate mortgages.

How Does The MCC program work?

Suppose you qualify for an MCC and obtain a 30-year, 4% fixed-rate mortgage of $97,000 for the purchase of an existing home (not new construction). The first year’s interest payment is approximately $3,880. The MCC allows you to take a federal income tax credit of $1,164 ($3,880 x 30%) for that year.

If your federal income tax liability is $1,164 or more after you have taken all other credits and deductions, you receive the entire benefit of the MCC tax credit – $1,164. In figuring your taxes, you also claim a deduction for the remaining 70% of your mortgage interest.

If your federal income tax liability is less than $1,164—for example, $800—your tax is reduced by only $800 that year. However, the remaining credit can be claimed on tax returns for the next three years, if tax liability increases. Note that depending on your individual tax situation, the MCC may not always provide a tax credit benefit to you in a given year depending on your overall tax liability.

You can receive an immediate benefit from your MCC tax credit by filing a revised W-4 (Employee’s Withholding Allowance Certificate) with your employer. In this example, your federal income tax liability would be reduced by $97 a month ($1,164 ÷ 12). The extra $97 increases your take-home pay and helps make your house payments affordable.

The House Charlotte Program

Who Is Eligible For The House Charlotte Program?

Families with incomes that are 110% or less of the HUD Area Median Income are eligible for assistance. Participants must complete a pre-purchase homebuyer education program. The home must be a family’s primary residence and be located in one of designated House Charlotte eligible areas. Maximum purchase price of home is $155,000.

How The Program Works:

You must use a Registered Broker / Realtor and Lender to find and finance a home. Banks apply for the program on behalf of qualified buyers. To find out if you are qualified, contact your approved Broker / Realtor, who can also set you up with an approved lender.

The selected home must be located in one of the approved Charlotte Neighborhood Statistical Areas (NSAs). Each Charlotte neighborhood is further broken down into Neighborhood Profile Areas. To determine if the property of interest is eligible, and address search must be completed through the mapping application. Generally, these homes are located in disadvantaged areas that are “up and coming” but still have some growing to do.

Once your Realtor finds you a house in an eligible area, you will then ask your approved lender to apply for the House Charlotte program. You also must complete a homebuyer education program. In order to register for a home buying course, buyers may contact the Community Link or any other HUD-approved Counseling Agency to register for the program. There are income limits and area limits to be approved for this program.

Provides funding up to $5,000 for families with income above 80% AMI, up to 110% Area Median Income (AMI)House Charlotte Program Image.
Provides funding up to $7,500 for families with income at or below 80% (AMI)
Provides funding up to $10,000 for families with income at or below 60% AMI in select House Charlotte areas.
Provides funding up to $10,000 for buyers who are employed as sworn CMPD police officers. This is a 5-year deferred, forgivable loan.

NACA:

The Neighborhood Assistance Corporation of America (“NACA”) is a non-profit, community advocacy and homeownership organization. NACA’s primary goal is to build strong, healthy neighborhoods in urban and rural areas nationwide through affordable homeownership.

NACA has made the dream of home ownership a reality for thousands of working people by counseling them honestly and effectively, enabling even those with poor credit to purchase a home or refinance a predatory loan with far better terms than those provided even in the prime market.

The NACA homeownership program is one answer to the huge subprime and predatory lending industry. NACA has conclusively shown that when working people get the benefit of a prime rate loan, they can resolve their financial problems, make their mortgage payments and become prime borrowers. NACA’s track record of helping people who have credit problems become homeowners or refinance out of a predatory loan debunks the myth that high rates and fees are necessary to compensate for their “credit risk.”

NACA has access to billions of dollars of mortgage funds for primarily low- and moderate-income people and people purchasing in low to moderate-income communities.

Eligibility and Program Details:

Purchase and Rehab loans

DOWN PAYMENT: None

CLOSING COSTS: None (paid by lender)

INTEREST RATE: One percent below the prime market rate

Current Interest rate: 30 year fixed (as of )

BUY-DOWN: Funds to Permanently Reduce Interest Rate

One percent of mortgage amount reduces interest rate by one quarter of a percent (.25%). This is a tremendous added benefit.

APPLICATION FEE: None (paid by lender)

POINTS & FEES: None (paid by lender)

Lender Grants: Lenders with NACA provide a grant for low and moderate income (“LMI”) homebuyers and those purchasing in LMI communities that matches a down payment with funds for an additional buy-down. You must become a member, attend Home Counseling sessions and the property must be located in a NACA, Urban Designated Housing area to utilize this program. You lso must use a NACA approved lender and Realtor / Broker.

CREDIT HISTORY:

Perfect Credit Not Required

Member’s personal payment history evaluated without consideration of his/her credit score.

P.M.I.: (Private Mortgage Insurance) None

Membership: (Neighborhood Stabilization Fund) None

OTHER TERMS: No yield spread premium; No pre-payment penalty; No balloon payment; No required credit life, or other unnecessary or overpriced insurance.

The Good Neighbor Next Door Program:

Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.

How the Program Works:

Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for seven days.

How to Participate in The Good Neighbor Next Door Program:

Call a HUD- Approved Broker in North Carolina who will help you check the available listings for your state. Follow the instructions from your Realtor to submit your interest in purchasing a specific home. If more than one person submits on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD’s regulations for the program.

Eligibility Details:

This program is only available to Police Officers, Firefighters, EMT’s, and K-12 Teachers.

Those buyers can get a 50 percent discount off the HUD appraised value of a home in specially designated ares. For example, if HUD lists a home at $100,000, you can buy it for $50,000 provided, you occupy the home as your personal residence for the required occupancy period. If you qualify for any FHA-insured mortgage program, your down payment is only $100 and you may finance closing costs.

You must live in the home for 36 months after the purchase.

The program is available for those with cash or using Conventional, FHA, VA financing.

This program can be “stacked” and combined with FHA financing (even with 203 K or 203 B “Rehab” loans.

If the buyer uses and qualifies for FHA financing, they also might qualify for the “$100 Down Payment” plan. Call your Realtor to see what you qualify for and what is available on the market with this $100.00 Down Payment program (areas are limited).

HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement.

CREDIT REPAIR COUNSELING COMPANY:

In need of credit repair? Our lenders like www.HOPE4USA.com. They are excellent and very price conscious compared to other similar companies. They are for-a fee service provider, but used by many major lenders for credit repair, and are very economical compared to other companies.

Here’s a FREE, informative guide for you from Hope 4 USA, so you can start taking steps to rebuild your credit score so you can purchase the home of your dreams:

http://www.hope4usa.com/free-credit-repair-toolkit

Ready To Start Searching For Your Next Home? See What’s Out There Today!

Start your FREE Home Search today by calling Kristen Haynes at new Home Buyers Brokers at 704-905-4062 or by downloading this new, FREE App on your Smartphone or Tablet!

To Use This 100 % FREE, “Home Scouting” Home Search App:

Go to your phone’s App Store and download the “Home Scouting” application.
Enter VIP Code: 7049054062 (no dashes).
Create your own anonymous User Name And Password- then you can use it to log in on a desktop, too! It’s that easy!

We are also MILITARY FRIENDLY and support our Armed Forces and Veterans!

Contact Us To See What Programs that YOU Qualify For! It’s 100 % Confidential- and it’s always 100 % FREE!

Call: New Home Buyers Brokers / Realty Pros, Realtors / Brokers in NC / SC: 704-905-4062 or Toll Free: 1-877-372-2252

Do you have further questions about what programs you qualify for? Call or email us, below:

Brought to you by:

Kristen Haynes, Broker In Charge, GC, Certified Military Residential Specialist

Direct: 704-905-4062 or Toll Free: 1-877-372-2252

Email: khaynes@newhomesnc-sc.com

Web: www.NewHomesNC-SC.com

The Ballantyne Area In South Charlotte Far Outpaces Other Nearby Zip Codes for Home Activity and Schools

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Tuesday, Jul. 01, 2014

Ballantyne Area’s Popularity Far Exceeds Nearby Areas, Data Shows
Portions Reprinted from the article in The Charlotte observer by Elisabeth Arriero – www.CharlotteObserver.com

Average monthly move-ins for the last 12 months in Ballantyne is around 446, according to Welcomemat Services.

By The Numbers:

Source: Welcomemat

ZIP Code: 28134 (Pineville, NC):

• Average Monthly Move-ins for 2013: 66

• Owner-occupied dwellings: 2,318

ZIP Code: 28105 (Matthews, NC):

• Average Monthly Move-ins for 2013: 200

• Owner-occupied dwellings: 11,811

ZIP Code: 28226 (South Charlotte by Carmel Road):

• Average Monthly Move-ins for 2013: 227

• Owner-occupied dwellings: 11,368

ZIP Code: 28270 (South Charlotte):

• Average Monthly Move-ins for 2013: 170

• Owner-occupied dwellings: 9,176

ZIP Code: 28277 (Ballantyne):

• Average Monthly Move-ins for 2013: 446

• Owner-occupied dwellings: 18,047

ZIP Code: 29715 (Fort Mill, SC):

• Average Monthly Move-ins for 2013: 135

• Owner-occupied dwellings: 7,504

Does this create more activity for South Charlotte, in general?

The flurry of home buyer activity in Ballantyne’s 28277 ZIP code doesn’t appear to have a spillover effect in neighboring ZIP codes, according to recent real estate data.

In June, Atlanta-based Welcomemat Services released data that showed the Ballantyne area was the second-most-moved-in ZIP code in the country, at least for May 4-31.

The company, which provides information to local businesses that want to reach new residents with direct-mail packets, released a report showing the Ballantyne ZIP code – 28277 – had 594 move-ins for that period.

Average monthly move-ins for the last 12 months in Ballantyne is around 446.

But bordering ZIP codes, including 28134 in Pineville, 28226 near the Arboretum, 28270 near the Promenade, 28105 in Matthews and 29715 in Fort Mill aren’t experiencing the same activity.

Average move-ins over the last 12 months for these areas range from as low as 66 in Pineville to as high as 227 for the Arboretum area, according to Welcomemat.

The average days on the market, which is the number of days a home is for sale in a particular market, also is consistently lower in Ballantyne.

For instance, in 2014, the average days on the market for homes sold was 61 in Ballantyne.

Average days on the market for that same period was 73 in 28270, 72 in 28226, 92 in 28105, 82 in 28134 and 82 in 29715.

What Makes Ballantyne So Special?:

Real estate professionals and urban planning experts don’t dispute that south Charlotte is a popular place to live compared with other parts of the city, especially given the location, the job market and quality of the area schools.

But they cited several factors to explain why 28277 is specifically sought out. Real estate agents said home buyers are requesting to live specifically in Ballantyne and not just the south Charlotte area.

People are drawn to newer homes. While buyers can find a great home in Providence Plantation or Quail Hollow, it’s not likely to be as modern as a Ballantyne Country Club home.

Ballantyne is newer, which is more appealing for people relocating here,

He said there also are a lot of new businesses coming to Ballantyne, including Met Life, a new Publix, Whole Foods and various bank branches.

That helps feed the frenzy,

All of that new construction may help explain the large number of move-ins. After all, with all of those new homes, of course there would be more home-buyer activity,

You pay less per square foot in south Charlotte than in places like Dilworth or Myers Park. You can get a lot more house for your money here.

Another big draw for the Ballantyne area specifically is the nationally recognized schools. Residents living in 28277 are likely to attend Ballantyne, Elon Park, Hawk Ridge and Polo Ridge elementary schools; Community House Middle School and Ardrey Kell Middle School – all of which “are top schools” with high test scores.

Mary Newsom, associate director for Urban & Regional Affairs at UNC Charlotte’s Urban Institute, said people are likely drawn to Ballantyne because it has firmly established a center, which is the arches at Ballantyne Commons Parkway and Johnston Road.

“And while it’s not as cute and lovable as (Plaza Midwood), it’s clearly a center and there are a lot of things you can do there. People like going to a place that feels like it has a place.”

Other than strip malls, there really isn’t much of a center in the nearby ZIP codes, said Newsom.

“I won’t say it’s walkable, but it’s certainly a condensed area where people can find what they’re looking for in terms of restaurants, shopping, golf courses, health clubs, anything that they want to find,” Brown said.

Newsom added that Ballantyne has done a great job of branding the entire area.

“Ballantyne has done a lot to position itself as Ballantyne as opposed to other areas where you have a whole bunch of different names,” she said. “They’ve been able to brand this massive area as Ballantyne.”

Want More Information On The Greater Ballantyne Region?

GET MY “REALTOR’s” ENTIRE, PROFESSIONAL MLS AND TAX RECORD DATABASE, HERE FOR FREE!

As a courtesy to all of you that follow my blog and are finding the “typical” home search sites-like Zillow and Trulia totally lacking in accuracy (or you don’t want your information sold to third parties like Trulia and Zillow do), there is a professional site that I am offering my friends and clients free access to- it’s called “Home Scouting”- it allows you to check the value of your home anytime, check the price of a listing on your street or one that has sold, look up foreclosures or courthouse and tax records, and generally have an entire MLS and courthouse database at your command.

FIND HOMES FOR SALE ANYTIME, ANYWHERE- EVEN AT THE CURB IN FRONT OF A HOME, RIGHT ON YOUR SMARTPHONE OR TABLET!

INCLUDING… WHAT IS MY HOME WORTH TODAY? WHAT IS SELLING IN MY AREA OR NEIGHBORHOOD?

You can sign up for “home sold” alerts to keep yourself up to date on what is selling around you in your neighborhood, zip code, county or city (or any state or city in the country that offers the service), or pull up the whole MLS listing outside a house from your smartphone or do complete home searches from your phone, tablet or laptop. It’s REALLY cool! And, unlike Zillow or Trulia, your information is never sold to third parties when you search (goodbye, spam!)! The information comes directly from current MLS feeds and current tax records, so the information is ALWAYS up to date and ACCURATE, unlike Zillow and Trulia or similar sites that “pull information from the air’ and compile it- usually incorrectly. Realtors and Brokers manage the content and MLS feeds, so although you will see that it is a branded site (with my logo and information or the Broker who is offering it in your area), no one will be trying to sell anything to you- or sell your contact information to others! But we will available to help you navigate around, should you need anything, have questions, or need more information. It’s like having a Realtor’s professional database, without your having to pay dues (like we Realtors have to) to access this information!

HOW TO SIGN UP AND GET STARTED:

To download the app from your smartphone or tablet, go to your Apple or Android / Google App store, search for “Home Scouting“, and put in my VIP code: 7049054062. Then create your own anonymous user name and password. To download the program on your desktop or laptop, put this code in your browser window and sign up using the same process:

http://hbsr.homescouting.com/myapp/b8ec2b9b-eb2d-4f19-9aa3-e9047c46a843

Please note, this is not available in all cities yet- just the ones that Brokers allow their access to. This link is for the greater Charlotte, North Carolina and the surrounding SC MLS area. You can contact me if you need help navigating around the site or have any questions while using it. Feel free to pass this along to any of your family and friends that may find it useful. Enjoy checking it out- it’s really fun!

Kristen Haynes, Broker In Charge, GC, CMRS

FREE HOME SEARCH! Find Out What Your Home Is Worth Today or Search For A Home On Your Smartphone, Tablet or Laptop!

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NOW YOU CAN HAVE A REALTOR ‘S ENTIRE, PROFESSIONAL MLS AND TAX RECORD DATABASE AVAILABLE TO THE GENERAL PUBLIC, FOR FREE!

FIND HOMES FOR SALE ANYTIME, ANYWHERE- EVEN AT THE CURB IN FRONT OF A HOME, RIGHT ON YOUR SMARTPHONE OR TABLET!

WHAT IS MY HOME WORTH TODAY? WHAT IS SELLING IN MY AREA OR NEIGHBORHOOD?

HOW TO SIGN UP AND GET STARTED:

http://hbsr.homescouting.com/myapp/b8ec2b9b-eb2d-4f19-9aa3-e9047c46a843

Kristen Haynes, Broker In Charge, GC, CMRS