On the MOVEThe Helen Adams Realty Monthly Market Update

April 2016

Negative housing headlines should be read with calm or skepticism, not alarm. National housing trends, like the steady rise in home prices and decline in inventory, should certainly be observed with care, but tracking wider economic conditions is also necessary. Buyers want to get into the market, but unlike the rising-price sales environment of ten years ago, people are not diving headlong into risky mortgages or uncomfortable situations. This carefulness should be celebrated, not feared.

New Listings in the Charlotte region decreased 0.2 percent to 5,582. Pending Sales were up 20.0 percent to 4,864. Inventory levels fell 27.8 percent to 10,145 units.

Prices continued to gain traction. The Median Sales Price increased 3.7 percent to $198,000.

Seller Confidence and Buyer Demand in the Second Quarter Reprinted from March 2016 CRRA Monthly Indicators

P2 Market Updates and Vital Signs

P3 3 Things to Remember if You're Buying this Spring or Summer in Charlotte

P4 Beth's Bits: Are Your Ready?

InthisIssue

List to Close was down 5.4 percent to 122 days. Sellers were encouraged as Months Supply of Homes for Sale was down 36.4 percent to 2.8 months.

Employment figures are positive, wages are going up and employers are hiring. Consumers are holding for the right deal, even in the face of extremely low mortgage rates. As seller and builder confidence increases, we should see more activity in Q2 2016. The second quarter tends to rank as the best time to list a home for sale. But if inventory stays low, it will be difficult to sustain sales increases in year-over-year comparisons. Prices are seemingly not so high as to stall the market completely. Demand is present but an abundance of choice is not, and therein lies the rub.

www.helenadamsrealty.com

Ballantyne Office15235-J John J. Delaney Dr.

Charlotte, NC 28277

Beth Haemmerlein NC/SC REALTOR®, SRES®

Cell: 704.243.8773 beth@helenadamsrealty.comwww.beth.helenadamsrealty.com

The Vitals: A Look at Charlotte’s Overall Real Estate Market

• Comparing March of 2015 to March 2016Charlotte’s inventory as a whole remainsdown significantly, 27.8%.

• However, pending sales, comparing March2015 to March 2016, stayed up at 20%.

• The market inventory stays low, meaningbuyer demand will still be high.

• Months supply of inventory sits at 2.8 for

March 2016; this typically indicates the market

is more favorable for the seller. A balanced

market is 6 months supply of inventory.

-1.4%3,254New

Listings -0.2%5,582

-5.4%12210,145

+2.6%$246,891

Top data represents the most recent month’s data for CMLS. Bottom data represents change in data since this time last year.

Market Updates

National Monthly Average 30-Year Fixed-Rate Mortgage Rates as reported by www.freddiemac.com

3.77

3.67

3.84

3.98

4.05

3.91 3.89

3.8

3.94 3.96

3.87

3.66 3.69

3.5

3.6

3.7

3.8

3.9

4

4.1

Mar. 15 Apr. 15 May. 15 Jun. 15 Jul. 15 Aug. 15 Sep. 15 Oct. Nov. 15 Dec. 15 Jan. 16 Feb. 16 Mar. 16

Monthly Market Snapshot

Average Days List to Close

Sold Listings

Average Sales Price

Homes on Market -27.8%

3195 3408

3845

4434 4383

3905

3436 3073

2439

3007

2039 2345

3254

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Mar15 Apr15 May15 Jun15 Jul15 Aug15 Sep15 Oct15 Nov15 Dec15 Jan16 Feb16 Mar16

$229,437ASP

$233,505ASP

$218,673ASP

$234,351ASP

$241,176ASP

$245,197ASP $255,125

ASP $240,169ASP

$237,646ASP

$241,094ASP

$229,766ASP

$230,943ASP

$246,891ASP

Residential Closings for the Entire CMLS AreaMarch 2015 - March 2016

3 Things to Remember if You’re Buying this Spring or Summer in Charlotte

1. INVENTORY IS LOWKnow what you need. Create your pro and con list early – the things in a home that you can’t live without; the things in a home that would be nice to have; the things in a home that are deal breakers. Now, go back and circle the absolute musts and the absolute nots and get ready to be flexible. You may not find that punch list on the market currently, so you either have to get ready to make concessions, or, you have to be on your toes to go to contract as soon as 123 Perfect Street hits the market.

2. GET YOUR AFFAIRS IN ORDERPre-Approval and Beyond. Finding the home is only step one – there’s a whole list of things that have to happen afterward.Your Realtor® will help guide you through the process, but your personal paperwork, if you’re getting a home loan, canbe a hurdle. Getting pre-approved or taking that a step further and using the Buyer Ready program from our partnerCunningham and Company Mortgage Bankers, will ensure a smooth process while purchasing your home.(www.cunninghammortgage.com)

3. IT’S THE LITTLE THINGSBefore your get caught up in moving madness, make a list of all the things that will have to change. List out all your utilitiesand make a note of which things will need to be updated (moved, or changed). Remember to check and see if your currentproviders give service in the area you’re planning to move to. Check to see if there’s anything new upcoming in the area oftown you’re moving to (hello, Google Fiber!). Make a list of publications, doctors, veterinarians, and school related accountsthat you’ll have to update your address with. Make a note to order new checks and other personal items with your newaddress. Create your list before you even begin the buying/moving process and you’ll thank yourself later when you can justfly through and check things off.

Beth's Bits: As The Weather Heats Up, So Does The Real Estate Market… Are You Ready?

While kids are thinking about summer vacation, many adults are thinking about the spring & summer

real estate market… Is now the time to move into a better school district? I’m tired of spring cleaning this

monstrosity, maybe it’s time to downsize… the list of things to think about goes on and on. One area most people

don’t spend a lot of time on until they’re already knee-deep the process is getting themselves “Buyer” or “Seller

- W-2s, or Profit & Loss Statements or 1099 Forms for at least the last 2 years; - Federal Tax Returns for at least the last 2 years;

- Recent Paycheck Stubs (usually 2-3 months’ history)

or a year-to-date Profit & Loss Statement; if you’re buying in conjunction with relocating for a new job, have a copy of your offer letter ready. - Proof of pension income, social security payments and

disability payments;

- A Complete List of Debts, including credit cards, student loans, car loans, child support payments, etc.

You’ll need creditor name, address, account number,

balances, and minimum monthly payments;

- List of Assests, including bank statements for the last

2-3 months (and bank account numbers & current balances), statements from other investments and accounts including CDs, IRAs, stock accounts, and other securities and investments, real estate & car titles, brokerage statements, etc. If child support payments are a source of income, proof of child’s age;- Documentation of any recent changes in your financial status (i.e. if you just inherited money or got married and received monetary gifts, be prepared with some sort of documentation to show that these items were not loans); - If you own other real estate, you’ll need the property address, current market value, mortgage lender's name and address, loan account number, balance and monthly payment. If it provides rental or investment income, you’ll need documentation of that; - Cancelled checks for your rent or mortgage payments

Sellers:

- If you’ve made any changes, make sure they were not required to have a permit (ie additions, decks, sheds, etc). If they were, have it ready. If you don’t have it, start the process now to get one; - Have the dates and copies of receipts for any home improvement projects or repairs (fixed water leak, new carpet, new cabinetry, etc) and the contractor’s name and information, if applicable; - Mortgage information, like the outstanding balance and pay-off balance, along with lender and account information; - Copy of any surveys or documentation of easements,

rights of way, etc;

- Certificate of Title and contact information for anyone who is on the title; - Divorce Decree, if the former spouse is on the title;

- Estate Documentation, if the property is being sold by

an administrator or executor or heirs;

- Homeowners Warranty Documents;

- Homeowners Association Documents, including dues, covenants, conditions and restrictions (CC&Rs), bylaws and contact information for whomever manages the HOA; - Documentation of any confirmed or proposed assessments, whether it’s an assessment from the local municipality or your HOA; - Average monthly utility costs and utility

company contact information;

contact information;

Ready.” Do you have what you need to complete the sale? To help you start thinking about those things, here’s a list of items you may want to gather before you venture into the real estate market. Taking the time now will definitely make it a smoother, less stressful experience later!

- Addresses for the last 2 years, along with names of

landlords if you were renting;

- Know the age of the roof, furnace, central air

conditioning, hot water heater, windows and appliances.

Gather any applicable warranty information and

paperwork and any manuals;

- Bankruptcy discharge papers, if needed;

Buyers: