Examine the Closets in Your Charlotte Home to Add Value to Sell

When considering selling Charlotte real estate the question surfaces, what can I do to improve my home and make it more appealing to a prospective buyer? Looking at your closets might be the answer, particularly if you own a quaint English Tudor in Myers Park or homes in Foxcroft. Closets may be the small improvement your home needs when getting ready to sell. Newer homes tend to have bigger closets and they aren’t just dark spaces with doors any more. Today’s closets, thanks to companies like California Closets and other offshoots, are filled with light and organized spaces like drawers, shelves, shoe racks and hanging bars that hang at different heights to accommodate different articles of clothing. Some closets come across as small rooms.

Regardless of whether you have a new home, like those in the Cotswold neighborhood or an older, remodeled home of the Charlotte, NC real estate market, if your closets aren’t organized they can be. Closets can be do-it-yourself projects or created by a contractor or a closet company. Remodeling closets can be an inexpensive re-model that can add value to the sale of your home near Freedom Park or home in Dilworth without breaking the bank.

Charlotte, NC Real Estate, Where are We?

When it comes to real estate the general sentiment appears to be that of putting 2009 in the past and looking forward to a brighter 2010.  Looking at where we are and where we are headed as far as communities of south Charlotte goes will take us from the present into the future.  Currently home values are affordable nationally, because prices are low and interest rates are low.  Both of these low levels add up to the fact that it is a great time to be a buyer when it comes to Charlotte, NC real estate.

Interest rates have been hovering at 5% or lower for the better part of the past year, a trend that cannot be expected to continue.  As the market stabilizes more and the economy gets better, interest rates will rise.  While home prices still may drop in many areas of the country, they will not drop much more.  Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories.  A rise in interest rates may bring real estate prices down to sell but the days of 20% and 30% decreases appear to be unlikely.

In a nutshell now is a great time to buy if you have been waiting for the right time to plunge into the market whether you are considering homes for sale in Myers Park, Foxcroft, Cotswold, Dilworth or any of the wonderful neighborhoods of Charlotte. Take advantage of low interest rates while they are here and the extended home buyer tax credit while it’s still available.  It is a buyer’s market now, it won’t be forever.

An interesting analysis of the real estate conditions and a forecast of 2010 by CNN Money are available.

Time to Close in Charlotte, NC to Use First Time Home Buyer Tax Credit

Congress passed new legislation to stimulate the U.S. housing market, while addressing the nation’s economic situation, by extending the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. There is no doubt that the first time home buyer tax credit is great for people interested in communities in south Charlotte, NC,   but there are a few things to know before you assume that you qualify for the full $8,000. 

What qualifies for the first time home buyer’s tax credit? Only a primary house qualifies.  It does not matter if it is a single family home, duplex, townhome, condo, apartment or co-op, if it is a primary residence it will apply whether you a looking at homes near Freedom Park, Homes in Myers Park or homes for sale in Cotswold.

What is new and improved with the extended and expanded tax credit? The tax credit is income restricted, an individual cannot make more that $125,000 annually and a couple cannot make more than $225,000 jointly.  A home must be a primary residence and valued at $800,000 or less.  Buyers must have a property under contract to purchase by April 30, 2010, and the property must close by June 30, 2010.

The tax credit is a real boon for first time home buyers and does not have to be repaid.  If you qualify for the tax credit and have been considering purchasing a new home, there could not be a better time.  Low interest rates, low home values and the first time home buyer tax credit all add up to the right time to call local Charlotte, NC expert Scott Pridemore.  The passing of this extended, expanded tax credit is good news on the real estate front and is expected to be the last tax credit offered for a long time to come.

Extended Home Buyer Tax Credit presents opportunity in Charlotte, NC Real Estate Market

Across the nation and here in the Charlotte, NC, people are taking advantage of the move-up/repeat home buyers tax credit. A tax credit of up to $6,500 can be claimed by qualified existing home owners. Whether it is a home in Cotswold, a home in Myers Park, South Park or other great communities in Charlotte, there are certain requirements to be met to take advantage of the tax credit available to homeowners.

The key information on the tax credit is the timing for the purchase of a principal residence. It must occur after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010). With the mix of incredably low interest rates and the extended home buyer tax credit, Charlotte home buyers are taking advantage for sure. As an expert in the local Charlotte real estate market, I like to help people with their real estate needs in the community, whether one is looking for information on homes for sale in Dilworth or simply trying to learn more about neighborhoods or new developments.

Date last updated: 2/5/12 9:47 PM PST

The data relating to real estate on this Web site derive in part from the Carolina Multiple Listing Services, Inc. IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Pridemore Properties LLC nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2012 Carolina Multiple Listing Services, Inc.

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