The Real Estate Book of Lake Norman & Iredell County, NC - Vol 24#2

Lance Armstrong

Lisa Dwyer

Lisa C. Newell Weber

Donna Blantin

Amanda J. Crosby Jordan Boyarsky

Debbie Monroe

Walt & Emilie Davis Tyson

Beth Preston

Crystal McIntosh

Marty Wilcox

Kim Ramsey

Doug Sutherland

Megan Roffers

Pilar Carroll Karman Christensen

Jenny F. DeHart

Thomas Gregory Jr.

Deanna Gaither

Nancy Hucks

Maria Jacobs

Lori Kindle Jeremy Katz

Toleah Poplin

Ashley Towns

Suzanne Strength

Sally Parker

Kathleen McMahan

Mary Anne Michael

Marlo Mikeal

Darlene Teeter

Dwyer

J. Crosby

Wilcox

Roffers

F. DeHart

Thomas Gregory Jr.

Deanna Gaither

Nancy Hucks

Maria Jacobs

Lori Kindle Jeremy Katz

Toleah Poplin Ashley Towns

Strength

Sally Parker

Kathleen McMahan

Mary Anne Michael

Marlo Mikeal

Darlene Teeter

Southern Charm Retreats

We specialize in waterfront vacation experiences. Our focus and priority is to provide a unique and memorable stay for our guests. Our company has a heavily saturated portfolio of vacation rentals in a sought after destination, Lake Norman, NC. No matter your style or preferences we have anything from quaint cottages to luxurious and sizable homes. These retreats can accommodate anything from an intimate getaway to larger family gatherings.

Over 1 acre waterfront estate!

Beautiful Estate situated on 1.19 acres presents a rare opportunity for waterfront living with NO HOA. 4 bedrooms & 3.5 bathrooms, perfect for any size family. Beautiful courtyard for entertaining. Great potential as AIRBNB or VRBO. $1,160,000

Gated 55+ community in Trilogy Lake Norman!

Beautiful large open floor plan w/loft including a sunroom, screened porch leading to paver patio situated on a cul-de-sac lot. TSS appliances w/gas range, granite counter tops, tile floors & showers in bathrooms, large finished garage & tons of storage. The clubhouse features indoor and outdoor activities, dining, fitness lots of activates to enjoy while meeting new friends. $844,500

ACREAGE!! Private estate, farming, horses. 5 parcels equaling 37.82 acres with approximately 2,663 feet of road frontage. No HOA and no restrictions except for County. Well and septic needed. Easy access to I-40. $1,500,000

Open floor plan, upgraded lighting, kit w/electrolux appliances, living rm w/gas log fp. Back deck, privacy fence, new roof 2022. HOA maintains all landscaping w/amenities including pool, clubhouse, playground & common areas. $406,500

YOUR

REALTOR IS READY TO GUIDE YOU HOME

CALL TODAY

BUYING OR SELLING A HOME is a process and there’s nobody better to guide you through that process than a REALTOR®

Not only can a REALTOR® help you when buying or selling–they also know your community.

A REALTOR® can provide information on schools, shopping, transportation, and taxes.

They’re also continually updated on financing and housing trends.

CALL ANY OF THE REAL ESTATE PROFESSIONALS FEATURED IN THIS MAGAZINE AND GET THE GUIDANCE THAT ONLY A REALTOR® CAN GIVE!

TOP 5 REASONS YOU NEED A REALTOR®

RATHER THAN AN iBUYER

1. Realtors have market know-how.

Agents have a much better understanding of your market and how it works.

3. iBuyer premiums are nearly twice a Realtor’s commission.

Working with a Realtor makes financial sense and keeps money in your pocket.

4. Realtors get you the most for your home.

iBuyers buy your property for much less than what it’s actually worth.

2. Realtors negotiate the details.

Selling your house through an agent is the best way to ensure you keep the equity your home has earned.

5. Build a relationship with a market expert.

You’ll be connected with a market expert for the next time you need to buy or sell.

HOME BUYERS: 7 Ways to Prepare Your Finances

Did you know many homebuyers are financially unprepared to purchase a home? According to a recent survey by the National Foundation for Credit Counseling® (NFCC®), almost half of respondents report being “least prepared” to buy a home – a sign that education is needed, especially for first-time buyers.

Prepare your finances well in advance of searching for a home. Here’s how.

1. Make a Financial Plan

Knowing where to start means conducting a complete review of how your household budget is managed. Comparing income and expenses, reviewing debt, and tracking savings are just a few of the ways to measure readiness for homeownership.

2. Review Your Credit Report and Score

Because a mortgage is the largest debt a person is likely to carry in their life, credit history can be a deal breaker or a dream maker. A credit report may be obtained without a score for free once every 12 months from each of the three bureaus by visiting AnnualCreditReport.com.

Once a copy is obtained, review it for discrepancies and dispute any differences. Do this at least six months in advance of applying for the loan, allowing time for inaccuracies to be corrected.

Along with the free credit report, a score can be purchased for a small fee. Because the score is critical to mortgage approval and competitive interest rates, it is worth taking a

look before submitting the loan application. Lender guidelines vary, but a FICO score of 760 is typically the threshold for the most favorable interest rates.

3. Start Saving

A down payment is typically no less than 20 percent of the purchase price of a home, and coming up with the money may be a significant pain point. A down payment is essential to limit the amount borrowed, as well as increasing the chance of having more favorable mortgage terms.

4. Decide the Type of Loan

After you’ve selected a lender, decide whether to take on a fixed-rate or adjustable-rate loan, which are the most common of the many different types of financing available. For those planning to remain in the home for a long time, a fixed-rate mortgage helps add stability by keeping the payment the same for the life of the loan. Those expecting their stay in the home to be no longer than five to seven years may be better served by an adjustable-rate loan, where they could benefit from lower rates in the short term.

5. Pre-Qualify for a Loan

It is important to know the limits of what is affordable before beginning to shop for a house. A good place to start is by becoming pre-qualified with a lender. This free service can typically be done in-person, online or by phone. The lender will need to gather some financial information and will offer a general idea of the amount of mortgage loan available based on the information provided. This non-binding estimate is the best way to know how much house would be affordable.

6. Become Pre-Approved for a Loan

Applying for a mortgage typically involves a cost and is done by supplying detailed financial documentation to the lender. The lender will use this information in conjunction with information obtained by pulling a credit report to determine the amount and terms for the loan. This is not a final approval for a loan, but is a significant step toward that outcome.

7. Lock In the Rate

If you like the interest rate being offered when pre-approved, lock it in by getting the commitment in writing. It can take time to find a home, negotiate a price and secure funding. Locking a rate for a reasonable period of time helps make room to complete the process without risking a less-favorable interest rate.

THINK OUTSIDE THE BOX

EXPAND YOUR SEARCH

Find your next home by searching our network of over a million properties for sale or rent. Filter your results, find open houses, connect with trusted agents and more!

DougMadisonRealty.com

704.873.7700

1812 E. Broad Street, Statesville, NC 28625

$425,000

3BD/2BA! Open floorplan. 2 car garage w/extra parking space outside. The back yard is large and fenced in. Community pool is just a short walk from this house. Come check out this almost 1 acre lot with this gorgeous home and you will not be disappointed. MLS# 3938791

$285,000

3BD 2BA/.Bamboo flooring, upd. bathrooms&kitchen,new metal roof w/ Leaf Free Gutters (w/ lifetime warranty). 2-tier back deck w/ pergola. New insulated windows,

4BDR, 3.5BA. Finished basement w/bar area and set up for home school or office. Updated kitchen with all appliances furnished. Huge 1 acre lot with the back yard fenced in already! Great storage areas and a great outdoor patio. MLS# 3894846

PRIVATE MINI FARM!8.9 ac. W/2 fenced pastures.Private suite w/sunroom,bonus rooms.Upd.kitchen w/granite countertops, stainless steel appl.Built-in china cabinet.Walk out basement w/ sep.storage room.The lower 6.9 acres fronts Beaver Creek w/ some flood plain & small farming easement in this area. MLS# 3932040

CONVENIENT TO I-77 & I-40 for easy access to Hickory, Statesville, Winston Salem, and Charlotte. Great residential lot just north of Statesville. Country living. Low Iredell County taxes. This is part of the restricted subdivision

$525,000

3BD/2BA Ranch North Iredell.Full basement,open floorplan.New Kitchen cabinets, new granite countertops, stainless steel appl.incl. microwave hood, smooth top range & refrig. LR w/vinyl plank floors, built in bookcases, wood burning fireplace. Refinished hardwood floors, office or extra den space. MLS# 3938273

OVER 4.997 Ac IN WEST IREDELL! Cleared w/frontage on Third Creek. Easy access to I-40. Close to town. No manufactured homes, Off Frame Modular Acceptable with brick foundation, No subdividing. Seller will record mentioned restrictions prior to closing. Please do not go in the fenced area without permission. MLS# 3886244

COMMERCIAL POTENTIAL: 2.24 Acres in Cornelius/Hwy 21 Corridor. 159FT on Cornelius Rd/333FT on Hwy 21. Iredell Taxes/Mooresville Zoning. Water on Site. Home on property being sold in it's present condition. Commercial Zoning Request in Process. MLS# 3899406

Great two story home in superb condition with over 2400 SF. Home features open floor plan, oversized master, 2 car garage, and end of road location.

MLS# 3938601

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$360,000

How to Get Approved for a Home Improvement Loan

By Jason Caruso

hether you're building an addition, completely remodeling or just nishing your basement, a home improvement loan can help add value and comfort to your home. ere are a variety of loan options available that we detail later in this article, but before you explore those, there are four steps you should take to ensure that you'll get the money you need:

Understand Your Credit History

With any type of loan, a higher credit score will give you better terms for your loan. But if you have a low credit score, that doesn't mean a home improvement loan is out of reach. ere are government loans, private lenders and co-signing opportunities that may be available to you.

Evaluate Your Equity

Home improvement loans are largely dependent on the homeowner's equity, since this becomes collateral for the loan.

Even if you have a decent amount of equity, you will need to prove that you're capable of paying your debts plus the added debt of the home renovation loan. e nal terms of your loan agreement will be determined by your ability to pay back the loan on time.

Get an Appraisal

e lender needs to know the overall value of your home before agreeing to certain loan terms. Not every lender will require an appraisal of your home, but it helps to be prepared in case it's requested.

Estimate Your Project Cost

Before you apply for a loan, you should establish a baseline of estimates from professional contractors to determine how much your home improvement project could potentially cost. is will give you a good idea of how much you'll need to borrow. Seeking out contractors for estimates will prepare you for what your project could entail. For example, you might be unaware that there's mold in your walls which is something you'll de nitely need to take care of—and this will add to the amount you'll need to borrow.

While you're guring out the cost of your project, be sure to request estimates from several contractors so you can shop around for the best price.

What Are Your Home Improvement Loan Options?

A er you've completed the above four steps, you'll be ready to look into your loan options:

Home Equity Line of Credit

With a home equity line of credit, you're able to withdraw money as you need it during a time limit that the lender has speci ed. Much like a credit card, as you pay some of the balance o , your credit will revolve and you can start to withdraw again.

is line of credit can have uctuating rates that can be higher than the rate you'd get on a xed-rate loan, making them more risky. But there is more exibility with a home equity line of credit than a xed-rate loan.

Home Construction Loans

When it comes to home construction loans, lenders need to place a lot of trust in the builder, meaning they are usually very cautious about giving out these loans. If things go wrong, the lender could quickly realize they've made a bad investment.

Because of the risk for the lender, there are precise quali cations for this type of loan, including:

» Proof of good credit and nancial health

» A comprehensive list of project details ( oor plans, materials, etc.)

» An estimated home value from an appraiser

» A large down payment—usually 20-25 percent

» Working with a builder that's approved by the lender

Home Equity Loans

A borrower uses the equity of their home as collateral under a home equity loan. e value of your property will need to be determined by a licensed appraiser, and this will determine the loan amount you are eligible to receive.

Usually this requires good credit and can end up being more costly than other loan options since additional fees associated with the appraisal, originator, title and closing process can come up.

FHA 203(k) Loans

e federal government backs FHA 203(k) loans, which were established with the intention of revitalizing struggling neighborhoods. Under this loan, borrowers can purchase a property with the cost of repairs and upgrades included. e required down payment is as low as 3.5 percent in most instances.

Make sure to follow the above steps and do your research on loan types as you're planning to renovate your home!

Jason Caruso has over 15 years of experience in the nancial sales and service industry. He is currently a loan o cer with an independent mortgage broker serving Massachusetts, New Hampshire, Maine and Connecticut. Caruso has a degree in business administration and marketing.

is article is intended for informational purposes only and should not be construed as professional advice. e opinions expressed in this article are those of the author and do not necessarily re ect the position of RISMedia.

Reprinted with permission from RISMedia. ©2018. All rights reserved.

DEEDED

RBJKRFM

ONE LEVEL HOME IN CORNELIUS! One level home in fabulous Cornelius neighborhood. Deeded boat slip and Lawn care included. Jump on your boat and enjoy Lake Norman, neighborhood pool and tennis courts with walking trails. Main floor living with 3 bedrooms, Great room, Dining room, Kitchen, breakfast area, Laundry and Rec Rom. Upstairs has flex space with Mini-split, but was unpermitted. Nice screened porch off the side of the home, and Sunroom with mini-split for enjoying year round. Freshly painted. Cul-de-sac street and Cornelius schools. Close to Birkdale, Shopping, movies, restaurants, and easy commute into Charlotte. See attachments for Highway 73 Rd Improvements and update. $850,000

METICULOUSLY MAINTAINED CUSTOM HOME! Rocking chair front porch in the Stillwater subdivision. This home offers an open floor plan with large primary on the main, two additional bedrooms, and laundry room. Kitchen boasts an abundance of cabinets, granite counter tops, SS appliances, and breakfast area. Amazing screen porch and composite decking overlook spacious landscaped yard. The lower level has a full kitchen, rec room large enough for a pool table, two bedrooms/ office, and exercise/tv room with wiring for surround sound. Beautifully situated on 1.26 acres on culde-sac street, private lot recently cleared backyard and new paver firepit, fence, lighting and storage shed. Perfect for entertaining! Loads of custom upgrades-moldings, cabinetry, triple trays, recessed lighting, and built-ins.

“Because Experience Counts!”

2013-2021

Top Sales Associate

Serving Lake Norman for over 35 Years!

One level home in fabulous Cornelius neighborhood. Deeded boat slip and Lawn care included. Jump on your boat and enjoy Lake Norman, neighborhood pool and tennis courts with walking trails. Main floor living with 3 bedrooms, Great room, Dining room, Kitchen, breakfast area, Laundry and Rec Rom. Upstairs has flex space with Mini-split, but was unpermitted. Nice screened porch off the side of the home, and Sunroom with mini-split for enjoying year round. Freshly painted. Cul-de-sac street and Cornelius schools. Close to Birkdale, Shopping, movies, restaurants, and easy commute into Charlotte. See attachments for Highway 73 Rd Improvements and update. $870,000

Walk to Grocery Store, Shopping, Dining, a lovely Pond to stroll around, & just a short walk to Lake Davidson, Davidson College & quaint Main Street. Open floor plan, 2 car garage w/an area for a home gym or storage. Rooftop terrace. Completely furnished & all appliances to remain. HOA dues include water & sewer. 1st floor has alley entry into the unit or you can enter the townhome from the street into the 2nd floor that has, Living Room, Kitchen w/granite, hardwoods, a Pantry, Half BA & Dining area w/hardwoods. 3rd floor has the Laundry Closet, Owner's Suite & 2nd BR w/2nd Full BA. $345,000

WATERFRONT LOT!

WATERFRONT LOT! LARGE WATERFRONT PROPERTY IS A COMBINATION OF 2 LOTS! Quiet neighborhood and best of all it already has a dock in place and has shoreline improvements. Corner lot in quiet subdivision with no HOA and minimal restrictive covenants. Soil Scientist is already working on drawing up a system to acquire Health Department approval. Low Iredell county taxes.

$329,000

DEEDED BOATSLIP!

HISTORIC DAVIDSON!

CONCORD

DONT BUY UNTIL YOU see this fully remodeled 2810 sf home inside and out with 784 sf 2 story workshop. 3 Bedroom 2.5 Full baths (1 is Jack & Jill).Floorplan is Open concept and a flex room. Roof approx 5years old, refinished Hardwood floors and many more update grades. Granite countertops & stainless steel appliances. All new lighting, plumbing fixtures, and hardware throughout inside and outside of home. Spacious back deck off the master bedroom that leads to a stone walkway and fire pit in the backyard. Home has 2 HVAC's.

$675,000 MLS# 3933183

IRON STATION

MOVE IN READY 4 Bedroom 2 bath, 2025 HLA, Open Concept & Split bedroom floorplan. Large kitchen has lots of Cabinets w/island & pantry. Living room and Den has see thru Fireplace. primary bedroom with his & her closets. Primary bath has dual sinks, garden tub & separate shower. Large Back deck, 1.08 acres, Carport, 16x32 building. New HVAC and a lot of Updates

$265,000

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17.38 ACRES Rural undeveloped land with approx. 475 feet of frontage and river views of North Fork New River. Boasts mature timber, excellent hunting, and areas for potential dwelling.

$130,000 MLS# 3888363

COMMERCIAL LOT on Business Hwy 16 ,great location with high visibility and high traffic count. .53 acre lot with 108 feet of road frontage. Property is zoned B-N. $199,000 MLS# 3933277

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