Insights on the Housing Market for 2013-14

 Brought to you by:

“We Make Personal and Business Insurance Easy!”

Contact:  Please email Chad Carpenter or Karen Coll for more information at

Or, give us a call at 877-529-8127.

Press Release – March 2013:

CoSaint Financial, a leading, local independent insurance agency, devotes one article a month in our Agency Newsletter to a topic that we believe our customers (and prospective customers) might find of value.  We try to find a topic where we can offers hints and insights that we believe may be helpful in our community.  This month, we decided to focus our feature article on the “rebounding” (or rather “emerging”) housing market.

For this article, we have gathered some information that we believe will be of interest to any home buyer, seller, renter, or real estate investor.  We did some research and talked to the experts.  The following pages summarize our findings. 

Please read on for helpful insights on the emerging housing market!

As we all know, the housing market has changed dramatically in the past decade.  In the years prior to 2007, people viewed home ownership much differently than post-2007.  In early 2000’s, everyone was under the assumption that buying and selling a home was one of the safest and most reliable investments available…a perfect way to build equity and secure retirement; the “American Dream”.  Unfortunately, since the economic collapse of 2007, perceptions of the “American Dream” have changed rather dramatically.  

Today, many homeowners are still digging their way out from “upside-down” mortgages, short sales, diminishing equity, and potentially even foreclosures.  Growth in the housing market has stagnated as the restructuring of our entire economic system takes shape.  Although the recovery has been slow, there are signs of progress and the “American Dream” is still alive today…albeit very different from the past.  After talking with the pros in this industry, we have compiled the following tips to help you understand forecasts for the upcoming year and what you can do to capitalize in the new housing market.    

Follow these tips and you will be well prepared to take advantage of the new housing market!

Tip #1 – Always look where we’ve been…and the forecasts of where we are going.

We can learn a lot from our past.  By understanding where we have been (and why), we can learn from our mistakes and hopefully not make the same mistakes twice.  Understanding new government regulations that have been put in place in response to the recent economic collapse (and housing dip) can help you as explore financing and home purchase options.  Times have changed and the home purchase process has changed as well. 

As we move forward, buying and / or selling a home will generally be more challenging than in the past and will require more due diligence.  The market has predominately been a “buyers’” market, with supply far exceeding demand.  Capital markets were tight and large down payments were required in order to take advantage of the excess supply.  This drove interest rates down to spur activity.  The tides are changing and researchers believe that 2013-2014 will signal the beginning of the recovery; where demand will begin to outweigh supply.  If you are a “buyer”, now is the perfect time to find that perfect home.  If you are a seller, the markets should look better and better over the next 18 months.

Tip #2`- Professionals can help advise on new laws and regulations.

Wherever you may be in the home-buying process, you should consider turning to a professional for guidance.  Your home purchase (or sale) will likely represent the largest investment you will ever make, so it makes sense to consult the pros to make sure you are getting the best deal possible.  Professionals can help give you the most recent information available and act as an advocate on your behalf.

There have been many new laws passed over the last 2-3 years and a licensed professional can help you understand these new legislative changes and how they may impact you.  Home buying and selling is certainly different than it used to be, so do yourself a favor and talk to one of the folks below.  These folks can help give you insight on your best next steps and help you get the most out of your investment.

As you can see, there are many different potential partners to choose from (all local) to help you with your real estate investment.  Take the time to explore your options and determine what will work best for you. 

Tip #3 – Should I buy or should I rent? Ask the pros…

“To rent or not to rent”…that is the question!  This has been a hot topic recently with all the pundits.  Experts have been weighing in with their predictions on interest rate development and future housing demand.  The answer is not always simple as looking at outside factors and it is very important for you to consider your own personal goals and financial situation before you move either direction. 

Many times, it is sensible to rent for a while as you get things in place to secure your home purchase.  The housing market is changing and most of the experts believe that the future looks promising for home sales.  As a result, many may feel rushed to buy before the interest rates start to rise.   However, researchers are also predicting that it may be around 2015 before we see significant movement in interest rates.  Therefore, renting in the near future might be right for you.

Jane Estes with Fairway Independent Mortgage has a “path to buy” system that can help guide you through these options (based on your situation) and place you on a path to secure a mortgage (with a great interest rate). Her system helps you make a plan regardless if you are 6 months away from buying a home or 5 years way.  Jane’s proven system can help evaluate your options and make a solid plan forward. 

Tip #4 – Everyone is different…and that’s okay.  Explore your options with a realtor!

Whether you want to buy, sell, rent or invest; never forget that what is good for your neighbor, may not be best for you.  Everyone has different goals, preferences, and financial situations.  One of the best things about the housing market is that there is something for everyone.  It is very important that you evaluate your options.

If you have the capital to buy now (or if you are saving for down the road), it is also important to understand the market and how it fits your personal situation.  For most home buyers and / or sellers, a good realtor is priceless.  Realtors can help you not only evaluate your options, but help you understand your options.  Even if you are looking to buy a year down the road, realtors can help provide insight on options that fit your needs (and finances).  Don’t think it is too early to sit and talk with a realtor if you are thinking of buying or selling.  A good realtor is the most important investment you can make!

Tip#5 – North Carolina or South Carolina?

This is a trick question!  There is no right answer.  Many people are moving to Charlotte.  And why not; it is a great place to work and live.  But there are fantastic places to live all around the area…it really depends on what you are looking for and your future goals.  

When thinking about where to live, it is all about what fits your personality.  You can be close to the Lake, you can be in the country, you can live in a suburban development, or have acres of land.  The great news is that you have choices!

South Carolina offers low taxes, great schools, beautiful lots…and you are still very close to Uptown.  North Carolina consistently ranks as one of the best states to live, offers fantastic amenities, and has a booming Charlotte Metro area.  The schools are great in both states and every neighborhood close to I-485 can gets you anywhere you need to be quickly and easily.  

Tip #6 – It‘s OK to rent your home and become a landlord if you are not ready to sell.

Companies, like Providence Property Management work with homeowners and real estate investors to extract value from real property holdings.  By keeping a close eye on the market and offering unmatched customer attention, they work hard to increase the profitability of your rental home.  As the rental market continues to climb in Charlotte (and surrounding areas), more and more homeowners are shifting their focus away from selling their home and towards renting (until the market rebounds).  

The market’s turning, but many still may be in a place where it makes sense to rent instead of selling.  It may take time for the value of your home to return to its original purchase price, so renting your home may be the perfect option.

However, being a landlord can be tough business.  A Property Management firm can help you manage your properties effectively.  Whether you’re looking to buy, sell or lease real estate, Providence Property Management can help you make the best decision for your money and your family.  Give them a call to explore your options!

Tip #7 – If you need anything CRESN is your one-stop network.

As you explore your real estate options, it is good to know where to turn if you need anything along the way.  One group you may want to consider is CRESN.  CRESN is a group of high-quality, professional real estate industry service professionals within one inter-connected network.  CRESN member companies have been carefully screened to assure they deliver quality and value for you.  Their main objective is to provide visibility of high-quality services to consumers at a fair price. The members of CRESN offer a plethora of services to help you fix, repair, paint, stage, clean, and sell your home.  From financing to construction, CRESN members offer services to address any challenge you may encounter with your real estate.

Plain and simple – CRESN focuses on providing a source to help you locate quality, professional services to meet your real estate service needs…all under one roof.  Check out CRESN at to learn more!

Tip #8 – Think about protecting your investment

Your home is one of the largest investments you will ever make, so you want to make sure you are protected if something bad happens.  Wherever you are in the home buying process, CoSaint Insurance can provide the coverage you need at an affordable price.  CoSaint has multiple carriers to provide quotes from the leading insurance carriers and determine which works best for you.  Whether you are renting or residing in a Condo, Townhome or Home; Cosaint can provide the protection you need at a price you can afford. 

CoSaint has local, independent, licensed agents to help you understand the coverage that you need, and then help you find that coverage at the best rate possible.  Call us today to compare you existing insurance coverage. 

In Summary:

We hope this article is helpful as you consider various options in the emerging housing market.  No one knows for sure how the market will continue to evolve, but the experts believe better times are around the corner.  Many look for an upward turn in our economy, followed by a rebound in our housing market.  This may present opportunities for you to consider. 

Call the professionals listed above and learn more about how they help buyers and sellers, renters and landlords understand their options.  The Charlotte area is still growing at a rapid pace and we want you to be an educated consumer.  

If CoSaint can help in any way, please contact us and we will help lead you in the right direction.

 About CoSaint Financial

CoSaint Financial is an independent insurance agency offering a full range of personal and commercial insurance products.  CoSaint represents the leading insurance carriers in the industry and has an experienced staff of insurance professionals to guide you every step of the way.  For information and quotes on insurance coverage, please call Karen Coll, CoSaint Financial Director of Operations, at 877-529-8127, ext. 102.