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Now if the Best Time to Purchase Charlotte Homes
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Great Opportunity of New home in Charlotte NC Real Estate

Posted in: Mint Hill, Dilworth, Mooresville, Weddington/Waxhaw, Concord/Kannapolis
By Charlotte Observer
Feb 5, 2009 - 2:01:50 PM

With low mortgage rates and inventory, the Charlotte NC Real Estate housing market is offering once-in-a-lifetime opportunities. If you're looking to buy, now's the time. Mortgage interest rates are close to 40 year lows. The average 30 year fixed mortgages hovering between 5 and 6%, more than an entire percentage point below 2000 levels. For a $250,000.00 home, a one-point difference in the interest rate (6.5 vs. 7.5%) can save $2,000.00 in annual payments.  It could save consumers enough to enable them to afford a house they’ve always wanted that would now be within their price range. Also, the selection of Charlotte Homes on the market is the best it's been in years. Inventory is high in most areas. Taking advantage of a variety of homes available on the market today allows buyers the unique opportunity to find the homes of their dreams. Expanded selection, combined with low interest rates, offer buyers unique opportunity that may never be available again, says Mary Edna Williams, 2008 president of North Carolina Homeowners Alliance. Homeownership is the American dream, and now is the best time to make the investment. The purchase of a home is the safest investment you can make for your family and for your future.

 

Economic studies consistently show that real estate remains one of the best performing consistently long-term investments. Median existing home sales prices in the United States and the Charlotte NC Real Estate areas have increased on average of 6.5% each year from 1972 through 2005 and 80% of the past 10 years combined. For consumers looking for the long-term and stable growth rates, real estate is the answer. First-time homebuyers recently received another incentive to buy a home. They can now get a $7500.00 tax credit for qualified home purchasers into June 30, 2009, thanks to recently passed housing stimulus legislation at the federal level. Particularly in North Carolina, it's a great time to buy. For the fourth consecutive year North Carolina has received the award for top business climate, according to Site Selection Magazine. Seven North Carolina urban areas ranked among the nation's Top 100 Best Performing Cities in annual economic performance index. There's an economic decline nationally, North Carolina has not been immune to the effects, Williams says. But the fact remains that North Carolina's economic climate is strong, and this is a beautiful state filled with many amenities that ensure our residents have a wonderful quality of life. For people with good credit and stable employment there opportunities awaiting you in North Carolina's housing market.

 

The North Carolina Homeowners Alliance is a nonpartisan, nonprofit advocacy organization committed to representing homeowners and property owners in the state of North Carolina. Its mission is to advance and promote issues of concern to all North Carolina property owners. The Alliance will work on behalf of property owners by means of education and advocacy. Through education, the Alliance will keep the state's citizens informed regarding issues that impact homeowners and homeownership in North Carolina.

   


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