NAR: Home Ownership Matters

The National Association of Realtors cares about home ownership and potential changes to the Mortgage Interest Deduction. The Home Ownership Matters bus, traveling around the country, is coming to North Carolina this month.

Charlotte-Area Home Sales Up in August

August home sales statistics are out, and the news appears positive for Charlotte!

Charlotte-area home sales in August were "up five percent from the year before and up nearly 26 percent from August 2010," according to the Charlotte Observer and data from the Charlotte Regional Realtor Association.

Landen Meadows Home For Sale!

For Sale: Four-bedroom home in the popular Landen Meadows neighborhood. This home has so many features, including:

* Zoned for A+ schools!
* Within walking distance to the Blakeney Shopping Center!
* Granite counter tops in kitchen.
* Tile and wood floors on main level, stairs and upstairs hallway.
* Tons of natural light and vaulted ceilings give this home a spacious feel!
* Beautiful master bedroom with trey ceiling.
* Large flat fenced backyard with huge patio and deck.
* NEW roof!

This home is a must SEE! Contact Gina Lorenzo @ 704.575.7605 or gina@yourpropertypeople.com for more information!

Listing in Quellin (Waxhaw, NC)

Spectacular home with TONS of upgrades in the popular Quellin neighborhood in Waxhaw, NC! This home includes a beautiful gourmet kitchen with a grand morning room, granite tops, double ovens and gas cook top.

It also features an expanded great room, a study on main level, lots of hardwood floors and grand staircase. The second floor features four large bedrooms, including a master suite with a separate sitting area. The finished third floor has a full bath and wet bar. The outdoor living area boasts a beautiful expansive paver patio and play set in the backyard!

Latest News on the Mortgage Interest Deduction

Interested in the ongoing debate over the Mortgage Interest Deduction? The National Association of Realtors has a page that lists their latest articles on the issue.

Charlotte News: Bank of America cutting jobs

According to the Charlotte Business Journal, Bank of America plans to cut 3,500 jobs nationwide. Here is the CBJ's statement regarding the potential impact on Charlotte:

"In Charlotte, BofA has about 15,000 employees at its headquarters and other operations. The bank (NYSE:BAC), the nation’s largest by assets, employs about 287,000 worldwide. The 3,500 job cuts represent a little more than 1 percent of the total work force. In Charlotte, a 1 percent reduction would be about 150 jobs lost. However, the bank hasn’t outlined how the layoffs will be distributed."

Announcing New Sale: Beautiful Home in Providence Downs

Your Property People, Inc. recently sold this beautiful home in Providence Downs (Union County):

* in 45 days and
* within 2.5% of list price.

Achieving these results involves no luck. Let us tell you house we can do it for you! Call 704.575.7605 or email Gina Lorenzo at gina@yourpropertypeople.com.

Savings Tips for Your Electric Bill

Summer may be waning, but the heat in Union County, North Carolina lingers on!

Union Power Cooperative recently published an article entitled "Cool Ways to Beat the Heat." Check out their tips for reducing your home energy bills!

Home Sold Quickly for Relocation Company

Do we work with relocation companies? Yes! Your Property People, Inc. represented a relocation company in the sale of this beautiful home in the popular Bridgehampton neighborhood south of Ballantyne (Charlotte). The home closed in just 60 days.

Relocating? Ask us about our experience working with relocation companies. Contact Gina Lorenzo at 704.575.7605 for more information.

Marvin Park to Open

The new park in Marvin is scheduled to open this fall!

According to the Union County Weekly, "Marvin Council has set October 22, 2011 as the grand opening date for Marvin-Efird Park. The council anticipates that many of the major improvements; the playground, the storage-shed and restrooms, the road, parking lots and barn construction will be completed by opening day."

Another Recent Home Sale

We are pleased to announce another recent home sale. This home is located in the popular Landen Meadows neighborhood in the Blakeney area of South Charlotte.

Interested in selling your home? Your Property People, Inc. can help you sell your home, whether it be a standard sale, short sale or other special circumstance.

Just Closed: Beautiful Home in Marvin Creek

Your Property People, Inc. recently closed the sale of a beautiful home in Marvin Creek (Union County), south of the Blakeney area of Charlotte. We were pleased to represent the seller in the transaction.

For more information on homes for sale in the Marvin and Waxhaw areas, please contact us at 704.575.7605.

Charlotte Ranks High in Personal Income Category

Another interesting article posted by the Charlotte Business Journal: "Charlotte-area residents earned a total of $69.2 billion last year, placing the market 35th among the nation’s 366 metro areas."

Mortgage Rates Fall

"Mortgage rates dropped this week amid signs of a slowing U.S. economy." See the Charlotte Business Journal for the full story.

Our Newest Listing: Enjoy Lake Living!

So pleased to have another new listing! This beautiful, custom home boasts easy access to Lake Wylie, a boat garage, a private wooded lot, basement, and nearby neighborhood amenities! Boat slip is transferable. Enjoy lake living at its best!

New Listing in Providence Downs

New listing in Providence Downs, Waxhaw, NC! Luxury home with tons of upgrades and featured in Builder/Architect Magazine! This magnificent home boasts six fireplaces, cedar wine cellar, heated tile floors, and too many features to list!

Contact Gina Lorenzo @ 704.575.7605.

Another Successful Short Sale

Another successful sale! Gina Lorenzo recently represented the seller in the short sale of a beautiful home in Marvin Creek! For more information, contact Gina at 704.575.7605!

Charlotte Unemployment Rate Rises in May

According to the Charlotte Business Journal, Charlotte's unemployment rate rose to 10.4% in May from 10.3% in April. Union County's unemployment rate remains unchanged at 8.7%.

Just Listed: Custom Home in Providence Downs

Your Property People, Inc. is proud to announce a new listing in Providence Downs in Waxhaw, NC!

This beautiful 6,600 sf custom home boasts big spaces and luxurious finishes. Five bedrooms each with adjoining full bath. Gorgeous kitchen has a custom designed granite island, seating for eight, an additional prep island, stainless steel KitchenAid appliances, a five-burner gas cooktop, double ovens and a huge pantry!

The third floor has a large media room and an additional bonus room with a wet bar. The large back yard is fenced, and the lot is on a quiet cul-de-sac!
For more information, call or text Gina Lorenzo at Your Property People, Inc. at 704.575.7605!

Chalotte Adds Jobs

Good news for the Charlotte region! According to the Charlotte Business Journal, the city added 7,600 new jobs in the year, making it number 28 in the country in terms of "largest metro areas for job growth in the past 12 months."

New Web Site

We recently launched a new web site!

The new site is more user-friendly, and has some great ways to search for homes, including foreclosures, commercial properties, rental properties, and recently sold homes in your area! We also have helpful links providing information for new residents, buyers and sellers. Use our new site as your go-to resources for real estate in Mecklenburg and Union Counties!

Potential Short Sale listing in Waxhaw, NC

Potential short sale listing in Waxhaw, NC! A luxurious five-bedroom, 5,000 sf home with an additional 2,500 sf walk-out basement! Three-car garage on main level and separate single car garage at basement level. Gorgeous main floor with wide plank hardwoods thru-out; Cherry glazed cabinets in kitchen; three fireplaces including two wood burning; two bonus rooms; one-acre lot; zoned for Marvin Ridge schools!

Contact Gina Lorenzo at 704.575.7605 for more information!

Another New Listing: Bridgehamptom Home For Sale

We are pleased to announce another new listing in the beautiful Bridgehampton neighborhood in Ballantyne (South Charlotte).

This wonderful five bedroom, four bathroom home boasts a gorgeous kitchen with granite tops, double ovens and hardwood floors. The home includes a spacious Great Room that is open to the kitchen and has a wall of windows overlooking private backyard.

The luxurious Master Suite has a sitting area, expansive walk in closets and a bonus room. There is also a bedroom with a full bath on the main level of the home. Contact Gina Lorenzo at 704.575.7605 for more details!

Just Listed: Home in Canterfield Creek

Just listed: a great home in popular Canterfield Creek located on cul-de-sac with over 6,000 square feet! This spacious home includes six bedrooms, five and a half baths, two bonus rooms plus a media room with stadium seating.

The house includes gorgeous sanded and finished hardwood floors, a sweeping staircase with iron spindles, a study on main level with built-in bookshelves, a game room on main level with second kitchen, and spacious secondary rooms with private baths! A must see!

To see more of the home, visit our web site!

2011 Spring Fest in Waxhaw

Waxhaw's annual Spring Fest is May 14 and 15 in the historic downtown district. "This family-fun event features over 100 artists and crafters, kids zone, live entertainment and food."

Some TVs are big drain

Did you know that some modern TVs can use almost as much electricity as a refrigerator? This article, published in Union County Cooperative's Carolina Country magazine, reveals which TVs are the biggest drain on your household utility budget.

NC adds jobs in past year

According to the Charlotte Business Journal, North Carolina added 36,500 jobs in the past 12 months ending in March 2011. The state also ranks 10th in the nation in terms of job growth for the past quarter.

The state's unemployment rate decreased to 9.7% in March. The Charlotte metro region's jobless rate dropped from 11.2% in January to 10.7% in February, and Mecklenburg County's rate remained unchanged at 10.2%.

Helping Another Buyer

Gina Lorenzo recently represented a buyer in the purchase of a home in the Brookhaven neighborhood of South Charlotte. The home, located in the Estate phase, was a foreclosure purchased for under $420,000.

In the market for a new home or an investment property? Contact Gina Lorenzo at 704.575.7605 as your buyer's representative to find the best deals in the area.

Another House Sold!

Announcing another Your Property People, Inc. home sale! Gina Lorenzo's listing on Castlebay Drive recently sold. The property, in the popular Landen Meadows neighborhood in Blakeney, sold in under 60 days.

Interested in selling your home? Contact Gina Lorenzo at 704.575.7605.

Kerr Farms Development Approved

In other Marvin, NC news, the Marvin Village Council approved plans for the development of Kerr Farms, according to the Union County Weekly.

The newspaper states "The 22-acre development, which borders Charlotte alongside Rea Road, includes 44 residential lots and 30 acres designated for office and business use. The Council's approval is conditional, requiring the developer to get sewer and water permits from Union County before breaking ground."

Your Property People Welcomes Michael Jackson!

Your Property People, Inc. is pleased to announce that Michael Jackson has joined our team of experienced brokers! Here is Michael's biography:

"I moved to Charlotte, from Florida, in 1999 and have watched this town emerge in to a small city with southern style and charm. Its mild climate, friendly people and affordable cost of living attract professionals and families from all over the country and world to make Charlotte their home.

My goal as your Realtor, is to build a relationship with you and your family and work with you through each step of the real estate transaction process. Whether buying or selling a home, condo or townhouse, I will use my experience and expertise to make your real estate transaction simple and stress free.

If you are in the market to buy or sell, or know someone who is, contact me today and let me start working to make your real estate dreams come true.

Please contact me at 704.507.3121!"

March 2011 Home Sales Up

According to the Charlotte Regional Realtor Association, home sales in the Charlotte region totaled 1,903 in March 2011, up 0.2 % from March 2010 and up 43% from February 2011. According to the association's president, "We believe this year’s activity is directly tied to increased consumer confidence and local businesses’ return to hiring.”

For more information, visit the article on the Charlotte Regional Realtor Association's web site.

More retail coming to Union County

Shopping options in Northwestern Union County and the adjacent Blakeney neighborhood will soon be even more plentiful!

The Charlotte Business Journal recently reported that 14,000 square feet of speculative retail space is planned at the corner of Rea Road and Tom Short Road. Construction could begin as early as the end of this month.

The new space at Marvin Town Centre will be in addition to an existing CVS/Pharmacy and Ivy Brook Academy day care, and an 87,000 square foot Kohl's that is already under construction.

The developer of the project is Raley Miller, and the new space will target restaurants and shops.

New Listing in Landen Meadows!

New listing in a Blakeney neighborhood! Beautiful home on cul-de-sac in popular Landen Meadows! Spacious interior with vaulted ceilings and lots of natural light; New architectural shingle roof; New HVAC system; Sparkling clean interior; Large kitchen with eat in bar area and space for table; Refrigerator, washer and dryer included! HUGE deck perfect for outdoor entertaining! Large fenced backyard; A+ Schools!

Volunteers Needed in Marvin

According to the Union County Weekly, the village of Marvin is looking for volunteers to help prepare its new park, which is scheduled to open in September 2011. The village is holding a Volunteer Day at the park on April 9 from 9 am to 2 pm. Additionally, volunteers are needed to serve on the Village Council Planning Board, Parks and Greenway Board and Design Review Board. Interested? Call the Marvin hall at 704.843.1680.

Unique Yard Improvement Idea

Here is a unique idea to improve your yard as a selling point: get your yard certified as a backyard wildlife habitat.

The Mecklenburg Times newspaper features the idea as a way for your home to stand out from the crowd of homes for sale. According to the article, the National Wildlife Federation certifies yards that are wildlife-friendly as part of its Backyard Wildlife Habitats program. The feature goes on to suggest that this certification is desirable because such habitats save time an money "because they incorporate sustainable gardening practices, such as growing native and drought-resistant plants, using rain barrels to capture storm water that is reused to water plants, reducing the amount of lawn space requiring maintenance and growing plants and trees that shade and cool the house."

Of course, any "plus" that your home has should be properly marketed by professional Realtor to make the most each and every selling point.

Charlotte home prices drop

According to another article published in this week's online Charlotte Business Journal, home prices in the Charlotte region decreased "4.8 percent for the year ended January 31." The data cited is from the Standard & Poor’s/Case-Shiller Home Price Index. Charlotte's dip in home prices was the ninth largest among the U.S. markets studied.

Charlotte named top retirement city

Forbes Magazine named Charlotte one of the 16 top places to retire! According to the Charlotte Business Journal, the magazine cited the city's cost-of-living, climate, traffic and number of area doctors as the reasons that Charlotte made the list!

Now Available: Hunter Oaks Home

Your Property People, Inc. is happy to list another home in the popular and convenient Hunter Oaks neighborhood in northern Union County!

The five-bedroom home is in the desirable Rea View Elementary and Marvin Ridge Middle and High school districts, and is only a five minute drive to the dynamic Blakeney shopping district. The home also boasts a private back yard and huge cook's kitchen with two islands!

For more information, please see one of our many online listings for the property!

North Carolina Population News

An article in the March 3, 2011 edition of the Wall Street Journal, says that North Carolina experienced population growth that was greater than the national average over the past 10 years. "The state grew 18.5% during the decade—compared with 9.7% for the U.S. overall—pushing North Carolina's population to 9.5 million people," according to the article.

A few interesting points from the article include:

* Charlotte's population has nearly doubled since 1990.
* North Carolina is now the 10th most populous state
* "Five of North Carolina's six largest cities are now majority minority," including Charlotte, Winston-Salem and Greensboro.

The article cites data released recently from the U.S. Census Bureau, and attributes North Carolina's population growth to many factors, including relatively low housing costs and moderate climate. Hispanics and retirees are two demographics that have significantly increased in numbers in the state.

Helpful Energy Efficiency Information

Together We Save is a web site dedicated to providing the public with tips on how to be more energy efficient in the home. With tips that address everything from lighting, filling the "cracks," programming the thermostat, sealing duct work and insulating the water heater, this site has the potential to save homeowners significant money on their utility bills!

The site is a resource provided by Touchstone Energy Cooperative.

New Listing in Hunter Oaks

Your Property People, Inc. is pleased to list this beautiful home in the Hunter Oaks neighborhood in northern Union County. It is a true "must see!" Schools include Rea View Elementary and Marvin Ridge Middle and High School. The spacious home, located on a cul-de-sac lot, includes five bedrooms plus a bonus room and a screened porch.

Foreclosure Sales Drop in 2010

According to the Charlotte Business Journal, 17% of Mecklenburg County's home sales were foreclosures in 2010, down from 21.6% in 2009. If you're thinking about buying or selling through the foreclosure process, please consult a Realtor. Our team has the experience and knowledge that can guide you through the entire sale.

Charlotte Tax Valuation

The Charlotte-Mecklenburg area recently underwent the first tax assessment in eight years. Yesterday's edition of the Charlotte Observer examined the valuation:

* 37% of the area's homes were valued at equal or below the last valuation.
* Almost 66% of of homes were valued at a higher rate than the last valuation, and "about one in 10 saw drastic jumps of 50% or more."
* Tax values doubled in some neighborhoods. Neighborhoods with large increases include parts of Myers Park, Eastover and Dilworth where "upscale infill development" and rapid growth fueled significant increases.

For more information about the tax valuation and how it has affected residents in the neighborhoods with large increases, see the newspaper's article entitled "Priced out of their homes?"

More on the Mortgage Interest Deduction

Today's Charlotte Observer has a lot of real estate-related news. One article highlights the debate of the Mortgage Interest Deduction (MID), which has been helping American homeowners for nearly a century.

To read more about our defensive stance on the Mortgage Interest Deduction, see our post from January 5, 2011.

New Listing in Marvin Creek

It is shaping up to be a busy spring season! Check out our new listing at 2025 Groves Edge Lane in Marvin Creek (Marvin, NC)! This beautiful home has four bedrooms, 3.5 baths and is within walking distance to Marvin Elementary! We are proud to list this home!

Marvin Village Finalizes Park Purchase

The Village of Marvin recently completed the purchase of land that will be developed into a community park.

According to a quote in the Union County Weekly, the park, adjacent to the Walden Pond neighborhood, is intended to be a "passive park in a manner that is in keeping with the natural setting of the land, with uses that are truly passive and in peaceful harmony with its surroundings and nearby residential neighbors."

We are looking forward to another beautiful addition to our Marvin community!

More Charlotte Mortgage News

The Charlotte Observer continues their analysis of the local residential real estate market in today's edition.

According to the article, an estimated 14% of Charlotte mortgages are "under water," or that the homeowner owes more on the home than what it is worth. This information comes after a county-wide tax revaluation, and it also represents an increase from 9.7% last year.

Are you under water in your home? Struggling with your mortgage terms? Gina at Your Property People, Inc. can consult with you regarding your options, including loan modifications, the complex short sale process, and even the details around foreclosure. All consulations are free and confidential. Contact Gina at gina@yourpropertypeople.com or 704.575.7605.

Southern Spring Home and Garden Show

The popular Southern Spring Home and Garden Show will be in Charlotte on March 2-6, 2011 at The Park Expo & Conference Center (2500 East Independence Blvd.). More than 400 exhibitors, including landscape and interior design professionals, are showcasing their best products and services for minor home improvements, major renovations or new construction.

According to the show's web site, the hours are:

Wednesday , Thursday & Sunday: 10am-6pm
Friday & Saturday: 10am-9pm

Parking: All Day Parking $6.00

Advanced tickets can be purchased at Harris Teeter for $7.50 (with VIC card up to two weeks prior to the show).

Preschools in the Marvin Area

New to Union County and looking for a local preschool program? There are a lot of options for your children. Our web site contains a helpful list of area preschools, contact information and the types of programs they offer.

Will Property Revaluation Affect You?

Here is another interesting article addressing the upcoming Mecklenburg County property revaluation, and its potential impact on towns outside of Charlotte (Matthews, Mint Hill and Pineville).

Points of Pride: Union County Public Schools

Many Union County residents chose to live in the region because of the excellent public school system. Following are some recent academic “points of pride” for the school system:

* Marvin Elementary has achieved School of Excellence for eight (8) years in a row, every year since it opened in the fall of 2002.

* For the third year in a row, Weddington High School has been recognized for having the highest graduation rate of North Carolina public high schools in the 9th Grade Cohort, size 300‐399. The overall statewide graduation rate is 74.2 percent, while Weddington High School’s graduation rate for the 2009‐2010 school year was 97.7.

* Union County Public Schools ranked number one among the 15 largest districts in the state with the percentage of students making Adequate Yearly Progress under the No Child Left Behind (NCLB) federal law.

* Union County Public Schools seniors, on the average, have scored higher than seniors taking the SAT on both the state and national level since the 2003-04 school year.

* Rea View Elementary’s Odyssey of the Minds team took a first-place trophy in their division at the World Competition held in Michigan.

* UCPS had 21 of its schools or 42 percent make the top designation of Honor School of Excellence on the state ABCs tests. This is incredible considering that of the 2,490 North Carolina public schools only 200 or 8 percent earned this top designation.

These school highlights, and other scholastic and athletic points of pride, are featured from the Union County Public Schools web site.

New Postcard Campaign

We created a new postcard to communicate how Your Property People, Inc. can help troubled homeowners gain control of the sale of their homes in today's market! We specialize in all types of home sales, including short sales!

Utility Bills Got You Down?

Are your utility bills going up as the temperatures outside go down? You can analyze your home's energy usage on Union Power's web site. Might be an insightful exercise and could save you money!

Could recent home sales affect your home's value?

Could 2010 home sales affect your home's value? The Charlotte Observer ran an analysis on Mecklenburg home sales for the year, and introduced the data in an interactive online map. See how home sales compare in your neighborhood!

Featured Broker: Sheila Chillcott, Broker/Realtor

Sheila and her family have lived in South Charlotte since 1997. As a volunteer for the PTA Board and the YMCA, and Committee Chairman of the Homeowner’s Association, she is a valued community leader.

Originally from Pittsburgh, PA, she attended Robert Morris University and has a BA in Marketing. She is a member of the North Carolina Association of Realtors and the Carolina MLS.

Sheila has a true passion and knowledge for the real estate market, and would love the opportunity to work for you. Whether buying or selling, she will use her expertise and experience to have your home staged and sold, or help you find your next dream home.

Please contact Sheila at Sheila@YourPropertyPeople.com or 704-641-5525.

Golf Club Membership Information

Like most other markets across the country, the Charlotte residential market is on a down cycle. Many current homebuyers can afford to be choosy, and neighborhood amenities can play a big role when making a buying decision.

Golf and social clubs are an attractive amenity in many luxury neighborhoods. But their prices, offerings and membership structures vary from club to club. Your Property People, Inc. recently surveyed area clubs to gather helpful information for buyer clients and recommend asking some important questions when evaluating club memberships.

Private or Public?
Some clubs are private; the only members allowed are residents of the neighborhood. Others are open to non-residents. Still others offer memberships by invitation only.

Membership Levels?
Clubs offer a variety of membership levels which may include a combination of golf, social or swim privileges. Fees can be paid either monthly or annually, with a few clubs offering lifetime memberships for one initial investment. Some memberships can even be made on a refundable basis.

Dining Fees?
Most area clubs surveyed require a monthly or annual food minimum to be spent in the club restaurants. Only one did not require a dining fee or food minimum.

For detailed information about our survey, please contact Gina Lorenzo at 704.545.7605 or gina@yourpropertypeople.com.

Makeup Dates for Union County Schools

Helpful information for parents of kids in Union County Schools: The makeup dates for the recent weather-related school closings have been posted. Please see our Marvin Elementary School web site for a copy of the makeup dates for all Union County schools: http://mres.ucps.k12.nc.us/news/jump.php?news_id=7771!

Featured Broker: Julie Jenkins, Broker/Realtor NC/SC

This week's featured broker is Julie Jenkins, Realtor/Broker in North Carolina and South Carolina! Here is Julie’s bio:

"I have lived in Charlotte the last 12 years and have been amazed with the growth and all that this city has to offer. Real Estate is my passion and I truly enjoy helping people with selling and buying their homes. I work hard to meet the needs of all my clients and I will do the same for you. Whether you are buying or selling, I will walk you through the sales process and be there every step of the way. I specialize in Union County, South Charlotte, and Fort Mill. If you are in the market to buy or sell, contact me today and let’s get started!"

Contact Julie at 704-604-1808 or visit her web site at http://www.julesrulesrealty.com.

Featured Property: Luxury Home in Chatsworth Neighborhood (Waxhaw, NC)

Announcing a luxurious 5,200 square feet home with an additional 2,500 sf walk-out basement in the beautiful neighborhood of Chatsworth in Waxhaw, NC!

The property features a three-car garage on the main level and a separate single-car garage at basement-level. The main living areas are simply gorgeous, with wide plank hardwood floors throughout. The kitchen features cherry glazed cabinets. The home also boasts three fireplaces, two of which are wood-burning. The home is nestled on a one-acre lot and is zoned for the desirable A+ Marvin School district!

For more information and photos, please see our web site or contact Gina Lorenzo at 704.545.7605 or gina@yourpropertypeople.com.

What is driving the continuing decline in home prices?

Short sales and foreclosures are continuing to cause downward pressure on home sales at every price point. While appraisers do not use these types of sales to determine the fair market value of a home, these sales do ultimately have a huge impact on overall sales prices.

When buyers choose to buy a significantly lower priced home, it forces the sellers of fair market value homes to lower their price in order to attract a buyer. This is in turn results in a "lower comps" for a community which makes it almost impossible for a seller to maintain a higher price in a depressed market. Even if a seller can hold out for that "right" buyer to get their price, a bank may not appraise the home for the contract price if there isn't sufficient sales history in the community to support the higher price. Until the market is purged of a large percentage of the short sale and foreclosure inventory on the market, there is not likely to be a recovery in home prices here in our area.

See CNN's recent article entitled "Home price plunge is widespread."

Announcing Another Property Sale

Your Property People announces another successful home sale! An adorable bungalow home in the Plaza Midwood neighborhood of Charlotte sold in December for only $2,000 below list price and closed in 30 days!

For more information, please contact Gina Lorenzo at 704.575.7605 or gina@yourpropertypeople.com.

MID Editorial from the National Association of Realtors

NAR's chief economist, Lawrence Yun, responded to a recent OpEd in the Washington Post. See the article.

Defending the Mortgage Interest Deducation (MID)

Some in congress are attempting to brand home ownership as a bad idea. They argue that money saved from the elimination of the mortgage interest deduction (MID) will help reduce the current federal deficit.

Eliminating the deduction is very risky. If such legislation passes, home-ownership - a source of pride for many Americans - will be instantly devalued. The housing markets will likely further destabilize, with home prices expected to drop another 15%. Greater burdens will be placed upon those struggling to hold on to their current homes or those saving for a home.

Politicians proposing to eliminate the deduction claim that "the mortgage interest deduction encourages buyers to be fiscally irresponsible by giving them more purchasing power to buy a more expensive home than they otherwise could afford." As an experienced Realtor, I have never had a single buyer client determine the price of a house based on the interest deduction. Buyers often arrive at a price based on total income, available down payment, interest rate and overall financial goals.

Those that oppose the MID also claim that the deduction only benefits high income people. However, according to the National Association of Realtors, “almost two-thirds [of homeowners] are middle-income earners…, the pillars of our federal income tax revenue.” In addition to hurting these earners, other small businesses serving homeowners will be affected. Through trickle down spending, homeowners spend money on home improvements ranging from porches, patios and fireplaces to furniture, window treatments and paint. All of this spending benefits our economy as a whole rather than just a certain income bracket.

The interest deduction has long been a significant tax benefit to homeowners of all incomes across the nation. Eliminating this benefit at a time when the country is still reeling from a severe recession is not only risky, but it is like kicking a dog when it is already down.

For more information regarding the mortgage interest deduction, see the following article on Realtor.org.

Gina Lorenzo Adds Short Sale Designation

Gina Lorenzo has recently earned the Certified Short Sale Seller (CSSS) designation, which is the only designation of its kind that is specific to the state of North Carolina and approved by the North Carolina Real Estate Commission.

The designation adds to Gina’s list of credentials that make her an expert in local residential short sales. In addition to advising clients on the short sale process and facilitating deals, Gina earned her Short Sales and Foreclosure Resource (SFR) certification in 2010.

When buying or selling a home through the short sale process, it is critical to partner with a knowledgeable and experienced Realtor. Call 704.575.7605 to learn how Gina can help you confidently navigate through the complexities of a short sale.