March 04, 2010
The new model home in Berewick is well underway and is looking like it is going to be a big hit. The Savannah floor plan features a dramatic entryway which opens out to the kitchen and dining room. Upstairs the home features 4 bedrooms and 3 full bathrooms including a luxury owners suite with a beautiful bath. This spectacular home sells for just $220,000 in one of Charlotte’s best communities. Berewick was the third best selling community last year in Charlotte. With a spectacular location, close to everything, come out and see why everyone loves this great community. Berewick also has all the amenities you would expect from a neighborhood, huge clubhouse with activities director, Jr. Olympic Pool, Sports Courts, Parks, Walking Trails and even Future Birkdale style pedestrian friendly Shopping.
The Bellamy Homes Sales Center is Open Daily, follow this link for more details about Berewick.
March 01, 2010
March Specials have just been released follow the links below for details on each of the promotions.
Promotions vary from one community to the next so choose your community and promotion below. There is also a Home of the Month offered which is a home with a package of great options offered at the best possible pricing. Below is a link to the flyers with details about the promotions:
February 24, 2010
Bellamy Homes has had an active sales center in Berewick for just a few months and has already seen great success. This highly popular community is going to continue to be a success. With growth in the area continuing and the community’s great location, there is no doubt that people will continue to move into this area. Bellamy Homes recently broke ground on their new model home in the community which is expected to be complete in April. More details to follow on the Grand Opening in the community.
A few Community Shots:
February 05, 2010
Is selling your current home the biggest obstacle to moving to the brand new home of your dreams?
If so, Bellamy Homes has a solution for you called the Guaranteed Buy Event and it is happening February 6th and 7th at the Model Home in Verdict Ridge. The last event like this attracted over 200 people so drop by early or sign up for a guaranteed appointment.
Visit the FAQ page For More information about this event
January 03, 2010
Souces: BizJournals.com
The Charlotte area produced 2,000 home sales in November, a 31 percent increase from November 2008, the North Carolina Association of Realtors reports. Read the full article here.
Freddie Mac (NYSE:FRE) said 30-year fixed-rate mortgages averaged 5.14 percent with an average 0.7 point for the week ending Dec. 31, up from last week when it averaged 5.05 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 5.10 percent.
The 15-year Fixed-rate mortgage, popular for refinancing, averaged 4.54 percent with an average 0.7 point, up from last week when it averaged 4.45 percent. A year ago at this time, the 15-year loan averaged 4.83 percent. Read the full article here
November 11, 2009
By Stella M. Hopkins
shopkins@charlotteobserver.com
Posted: Wednesday, Nov. 11, 2009
Fueled in part by a hefty tax credit, Charlotte-area home sales jumped nearly 20 percent last month, the first gain in more than two years.
There were 2,210 houses, townhouses and condos sold last month through the Carolina Multiple Listing Services. That compares with 1,848 in October 2008, when the economy took a nosedive.
The hefty increase marks the first time since February 2007 that sales rose on an annual basis. That’s the most robust signal yet of the industry’s recovery but still leaves sales below the 2003 level.
The first time homebuyer’s tax credit, just extended and expanded to existing homeowners, is likely to continue propelling sales.
As evidence of the Charlotte market’s staying power, MLS pending sales were up one-third compared with a year ago, according to data recently released by the Charlotte Regional Realtor Association. That’s the second month in a row of increases. Those sales represent signed contracts that haven’t yet closed and are an important barometer.
September 26, 2009
Purchasing your new home is likely the largest purchase you will make in your life, its important to make as few mistakes as possible to ensure your hard earned money is well spent. Over the years we have found a few common mistakes that even the most experienced home buyers make. Our goal in sharing these with you is to help you make wise choices when purchasing your next home. Whether you purchase with Bellamy Homes or not we are always happy to share our insights and expertise with you.
1. Focusing more on Price than Interest Rates
It is common for people to get hung up on the price of their new home and go through some complex negotiations to get the price where they want it. Often times deals fall through over just a few thousand dollars on the sales price. After buyers put all their time and energy into negotiating price they are out of energy when it comes to shopping for interest rates and loan programs. We have seen transactions where the purchaser spent months haggling over a few thousand dollars all the while, interest rates went up a half point. This may not sound like much but consider this example: On a $300,000 home if interest rates go up 3/4 of a point which is a normal swing, your monthly payment goes up $126, which equates to $45,097 in extra interest paid over the life of the loan.
Many people are wishing, hoping and waiting to see if home prices in Charlotte come down. The likely scenerio is home prices may come down slightly, even $10,000 would be a significant decrease in todays market. While buyers are watching the market, we have something much more important than that already in place. Low interest rates. With the current lending situation it is only a matter of time before these rates double from their current levels. When that happens it wont matter if the home you have your eye changed price because at the new interest rates you will be spending much money on interest payments than you saved.
2. Failing to Plan for the Future
The home you purchase today is likely to be a long term new home for you. Most buyers don’t take the time to step back and immagine what their life will be like 5 or 10 years down the road. You shouldn’t just purchase a home that meets your needs today, instead plan for the future. Are you planning to start a family, or downsize with a smaller family. Take a minute and think about the future, in the future you will be glad you did.
3. Get it in Writing
In these complex transactions there is a lot to remember and often times the different parties in the transaction remember what was said in different ways. Always draft addendums that clearly state what the parties have both agreed to do and have them signed, that way everyone agrees and the process can progress smoothly. You won’t be as excited about your new home purchase when you have had to battle in court over some minor details that could have easily been written down.
4. Forgetting The Final Walkthrough
Bellamy Homes provides customers plenty of opportunites to take a look at their home prior to the customer taking posession. Actaully we also come back twice within the first year of you owning your new home to perform maintenance and inspections. This is not common when purchasing a new home. Make sure and carefully inspect the home multiple times and as close to the closing date as possible. Make sure you know as much as possible about the new home before you go to the closing table and purchase it. That will help you avoid being blindsided by unexpected issues down the road after you own it.
5. Have Fun
This list is not meant to scare you or make you nervous about purchaseing your new home. Through the years the process has become pretty streamlined and the kinks have been worked out. Altough these mistakes are possible and even typical, none of them detract significantly from the pleasure and satisfaction of owning a new home. The day your take possession and move in your new home is exciting and whether you make a few small mistakes or not won’t affect the memories you will create.
September 15, 2009
Bellamy Homes is an active part in the community of Charlotte and surrounding areas. Recently the company dedicated some hard work to one of the local Habitat for Humanity homes here in town. We framed up the whole roof and put the sheathing (plywood) around the exterior of the home. Here are some photos of the hard work.
August 08, 2009
We have a new virtual tour added to our site where you can easily take a walk through the model home and click various locations on the floorplan to explore the home. Try it out now.
July 25, 2009
As a buyer there is a lot to consider when selecting your new home and most builders don’t make it any easier on you by playing tricks with only one thing in mind… more profit for them! Lets look at a few common things buyers encounter and how to avoid them.
Builder’s with their own Financing or in house lender
Often, builders offer buyers big incentives to use their preferred or their in house lender. For instance “Apple” Homes will suggest and often reward buyers who use “Apple” Mortgage their lending group for financing. What we see a lot is builders offering something along the lines of “A free Sun room or Morning room” for using their preferred lender. Buyer Beware! Nothing is ever free. The “free” addition on your home often means either a higher interest rate on your loan and / or higher closing costs. It may even not look like much, you may say to yourself, that an interest rate of just a small percent higher is not a big deal, and your payment may not increase much either. However what buyers don’t realize is that they are paying for that morning room over time with higher payments and when it is all said and done, they could have bought 3 or 4 morning rooms for what was lost. As we have seen recently, choosing the wrong loan now can have horrible consequences on you for years to come.
Bellamy Homes does not have preferred lenders we only have relationships with lenders. If you have questions we can help steer you in the right direction or you can select whichever lender offers you the best deal. No matter who you choose you don’t have to worry because you have already gotten a great deal on your new home.
Low Advertised Prices!
At Present, common practice for builders is to strip homes of included features so the builder can advertise a lower price. We have seen this all over the place and it makes shopping for a nice home very challenging for buyers. A few typical changes include: hardwood flooring to vinyl flooring, granite counter tops to laminate counter tops, ceramic baths to vinyl baths, removing features like a deck, fireplace, tray ceilings, appliances, accents on the exterior, sodded yards, and landscaping. The challenge for buyers is comparing apples to apples because some builders like Bellamy Homes are continuing to include these features while others include next to nothing. When Shopping, make sure you ask the right questions and have a good understanding of what you get included with the home.
Options Pricing and Total Cost
As previously discussed, builders are trying to do all they can to lower their base price so they can advertise as low a price as possible. As well as stripping options from the home, another thing that’s been happening is builders are lowering their profit on the home to drive down price. While this may seem to good for buyers, it isn’t always the case because those lost profits must be made up for somewhere and lots of times its in the options. We have seen builders actually raising option pricing recently to help boost their margins on homes they are selling. Buyers may think “well I just won’t put any options in the home” but that is unrealistic especially in a home that has recently been stripped down of common included features.
