David Ittoop, NC Realtor

08/01/2022

https://www.ftc.gov/news-events/news/press-releases/2022/08/ftc-takes-action-stop-online-home-buying-firm-opendoor-labs-inc-cheating-potential-sellers

The Federal Trade Commission today took action against online home buying firm Opendoor Labs Inc., for cheating potential home sellers by tricking them into thinking that they could make more money

07/14/2022

Please, do not accept any messenger messages or friend request from me!!!
If in doubt messg. Me 1st.

01/11/2022

Will this affect your home buying power?

"Federal Reserve Chairman Jerome Powell told Congress Tuesday that if the pace of price increases do not come down, the central bank will get more aggressive with raising short-term borrowing costs."

If you are thinking about buying your 1st home, a larger home or investment house, this probably would be last time for that 'super low' interest rates!! Don't wait,time is now!!

11/12/2021

Does Zillow's collapse signal the end of iBuying or a lesson for others using algorithmic pricing?

02/28/2020

Charlotte’s housing market trends suggest home prices in the area will rise steadily in 2020. It’s the best time to buy while houses are still affordable 🏡

01/29/2020

In Charlotte, the supply of houses for sale and mortgage rates are still historically low. Don't wait too long to buy a home 🏡

01/21/2020

Sold and closed!
Who is next? 😃

08/30/2019

[JUST LISTED] Space, Space, Space! Great brick ranch home about 1 mile away from UNC Charlotte. Nice 4 bedroom with 3 full bathroom home with more than 2400 sqft. Brick fireplace in large den and private backyard surrounded by trees 🏡

Want to learn more? Call or email me 😃

Space, Space, Space! Great brick ranch very close, approx. 1 mile to main entrance, to UNCCharlotte. Nice 4 bedroom with 3 full bath home with over 2400 sqft.. Brick fireplace in large Den that is being sold as is and should be inspected prior to use. Quiet and private backyard surrounded by...

07/29/2019

How to price a house for sale 🏡

This is a question many sellers ask themselves, but sometimes don't get a clear answer on. For some, researching online can be a reliable source or may be the only other trusting source other than Uncle Jim's opinion 😁 Don't assume your house worth as much as or as low as what it says on the web. Most sites will not always take the many factors of home value into consideration, like the upgrades you have done to your house or extras you have added inside, for example. The house recently sold in your neighborhood may not be similar to your house. But when you search online to find a value for your home that house value is added to get an average price in that neighborhood. This can cause one to ask too little, sell 'too fast' for too little, or may price out of the market patiently waiting for a buyer.

If you are thinking about selling or buying a home, get an expert opinion of value, pricing etc. Let me help you with that process 😃 You can call me at 704-287-7000 with any questions.

07/22/2019

❓ [HOMEBUYING ADVICE] How much house can I afford to buy?

This is a question I hear from both experienced and first-time home buyers alike and, understandably, it comes with some hesitation in asking. Keep reading for my simple tips to help you address this question!

It goes without saying that most of us are looking for the best for ourselves and dear ones, but “the best” does not always have to mean large and/or luxurious. Of course, our preferences and choices vary based on our individual needs, but home satisfaction can also come from answering whether you’ll be happy and comfortable with not only your space, but with your financial commitment to your new home. *This won’t be as applicable if you are a cash buyer.

Since I worked for some of the largest lending institutions in the country for more than two decades, my consumer and mortgage lending expertise would help you figure out what homebuying comes down to – finances. Grab a sheet of paper, a pencil, and a calculator. Most conventional lenders would like to see your debt to income ratio (or DTI) at 43% or less. What does that mean to you? How can this affect your dream purchase? Let us figure this out.

Say your monthly household income is $6,000 before tax. If we take 43% of this as your gross monthly income, the calculation is ($6,000 X 43 and then hit the % key) which gives us $2,580. This figure does not consider your unreported debts or other monthly payments you are obligated to which are not on your credit report. I always recommend leaving a 3-5% cushion each month for other unexpected monthly expenses like going out to eat, movies, or other personal expenses. Try this formula out and be realistic and modest with your monthly expenses so you don’t put yourself in financial distress.

What you may “qualify” for with a lender and what you can personally “afford” may be different, though. By using the conventional lending rule of 43% DTI, you can qualify for a good loan although, your affordability to that loan maybe still be a little tight. Even though the 43% mark is ideal we have to consider your payment obligations against your “take home pay,” not the gross pay. All expenses included should ideally not be over 36% of your gross Income. Keep in mind that a good down payment, established savings, and good credit score can qualify you for valuable exemptions from lenders as long as your credit profile fits their underwriting guidelines.

All in all, keep these 3 ranges in mind before you start searching for your dream home 😊

35% or less DTI: You are at a manageable level or have money left over for additional spending or for savings after paying your monthly bills

36-48% DTI: Room left for financial improvement. Focus on using less credit cards or revolving debts for smaller purchases until you bring your balances down

48%+ DTI: You may be struggling to pay your monthly obligations. Start taking financial actions. Lenders may be unfavorable to your loan request

I hope these few tips help you achieve better financial health but also help you find that “dream home” 😊 Please feel free to reach out to me directly with any questions - I will be always here to help you achieve your dreams of buying a home!

07/22/2019

🏠 [NEW LISTING] This spacious 1,242 sq ft and furnished, tri-level 3 bedroom/2 bathroom townhome is just minutes from UNC Charlotte and comes with all new carpet, newly built deck, and a washer/dryer 😀

This is an excellent cashflow investment property or convenient home if you’re looking to be close to campus and access to the light rail 👌🏾

📞 Interested in learning more? Call me at 704-287-7000