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Charlotte, NC Real Estate News

By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 Looking at the Chart above, the busiest months for closed sales in Olde Providence for the past year have been in the spring and summer months but activity has not been stagnant even in other seasons. The Average Sales Pricesince January 2007 in the Olde Providence neighborhood was $265,700 Average Days on Market was 47 Average Square footage was 2046 Looking at how sales prices compared to list prices, the Average Sales Price/List Price was 97% so the closed listings sold for quite close to their list prices. Of course, all of this data is simply a general analysis and is just a snapshot of the market activity for Olde Providence since January of 2007. This is not a market analysis, which requires much more in depth analysis and application of the market data to a given property. For ...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
                                        OLDE PROVIDENCE MARKET ACTIVITY AS OF 2.6.08 Listing StatusNumber of ListingsAverage List PriceAverage Square FeetAverage Days on MarketCurrent Active Listings11$294,309217268Current Pending Listings2$274,900223066Current Conditional/Contingent Listings1$289,900215020 Olde Providence is located in the heart of South Charlotte, convenient to South Park, the Arboretum, and I-485. Tree-lined streets that wind gracefully through the neighborhood, mature landscaping and houses with generous property sizes make this neighborhood a hidden gem. The majority of homes were built in the 1960's and into the 1970's and many have been beautifully renovated and updated. Current active listings in Olde Providence range in price from $225,000 to $370,000. Home sty...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 Here's a snapshot of the January 2008 Single Family listing activity for Charlotte and Mecklenburg County: Average days on market for Sold Listings: 78. New Listings: 2453 Listings Under Contract: 1002 Listings SOLD: 673 Average Percentage of Sale Price/List Price: 96.52% Average Sales Price: $228,127While fewer sales were recorded in January as compared to December's total of 825 closed sales, the forward looking "under contract" index was up in January, with 1,002 as compared to 832 for December 2007. So there may very well be some listings that went under contract in December and just haven't reached closing as of the end of January.  The relationship between sales price and list price was a fairly narrow range at 94.73% for Area 8 (West Charlotte/Mecklenburg) to 97.46% for Area 6 (...
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
Sales in Myers Park are not only keeping pace with years past but, exceeding in number of condo/townhome sales, days on the market and sales-to-list price percentage.  Here is the data comparing 2007 & 2008 for the month of January: For more information on Condos/Townhomes or Single Family Homes in the Myers Park area, contact Debe Maxwell @ 704.491.3310.  About the author:  Debe Maxwell is a Charlotte Residential Real Estate, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte, NC or any place in the country by connecting you with a relocation professional in your destination of choice.  Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. ...
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
Charlotte's historic Dilworth residential (condo/townhome) sales statistics in comparison of Jan 2007 and 2008 are as follows:  Avg961110$ 225,920$ 221,820126January, 2007 Sales to List Price:  98% Avg1036110$ 243,036$ 243,70922January, 2008 Sales to List Price: 99%Sales continue to increase in the Dilworth area with appreciation holding firm thus far in 2008.  New construction is keeping pace in the area with continued appeal for Buyers in this beautiful historic area of Charlotte, NC.  Read other Dilworth articles below or phone/email me for more information on Dilworth. Charlotte, NC-Relocation Package: Historical Dilworth Charlotte, NC Market Report, DILWORTH, Week-Ending 01/11/2008  Charlotte, NC Real Estate Report: DILWORTH, 2006 vs. 2007 About the author:  Debe Maxwell is a Charl...
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
Charlotte's Uptown condo market continues to boom!  Days on the market have increased since last year but, skewed statistics are generated by pre-sale listings in MLS prior to construction.  Recent news of over 14,000 jobs coming to Center City is expected to boost the uptown Residential market even more. Charlotte, NC Uptown market report for January, 2008 is below; the numbers are not earth-shattering but, the statistics for Jan. 2007 vs. 2008 are as follows: Further statistics show that a total 426 properties (condos and townhomes) sold in 2007 in the Uptown area, with an average number of days on the market of more than January's 74 and the average sales price for the year, less than January, 2008's average.   426 Condos & Townhomes SOLD in 2007   Square Feet Bedrooms Full Baths Hal...
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
 As I was showing a property today near the Uptown area in Dilworth, I noticed that the skyline included another new crane, which led me to follow the maze of new construction into the area to see which project was moving forward.  Almost 2.7 million commercial square feet, currently being erected in the Uptown area right now still won’t be enough to meet the demand of Charlotte’s growing economy. The Charlotte Chamber of Commerce has compiled the newest set of numbers revealing that over 1,300 new or expanding firms are investing $2.3 billion in Charlotte’s future infrastructure.  With a vacancy rate of only 2%, commercial space in the Uptown area is very tight and with 14,648 jobs being created by these firms, Uptown residential space should soon be limited as well.  The numbers are ...
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By Charlotte Home Loans Your Charlotte Mortgage Lender
Its an election year. The economy is struggling and the fear of a recession is lingering. Real estate values across the country are sliding backwards and home loan originations are off. So what is the White House thinking about?Charlotte NC. Yep, Dick Cheney visited Charlotte today and of all the things he chose to speak about... well, lets just say I am proud to be a part of this community!http://www.ednailor.com/2008/01/31/charlotte-in-national-spotlight-again/ __________________________________________This news commentary brought to you byThe Ed Nailor Mortgage TeamCharlotte mortgage loans designed for Charlotte home purchase and Charlotte Home refinance.
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 Just a few thoughts, and yes these are my personal opinion! For buyers looking to purchase during the winter months, the weather can sometimes be inconvenient but there is an upside to house shopping this time of year. -With leaves off the trees, you can see the yard in its most exposed state. This means that you have a firsthand look at how private (or exposed) the property is to neighbors. Privacy's a big deal to some buyers! -Less competition from other home buyers. Notice I didn't say no competition, I said less. Spring and summer are typically busier for both listings and buyers, and while that means more market activity, it also means more buyers looking at the same house you're considering. -If you like the way the house and property present during winter, chances are you'll lik...
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By Charlotte Home Loans Your Charlotte Mortgage Lender
This virtual tour is brought to you by The Ed Nailor Mortgage Team. More Info: For Sale: 7439 Autumn Trail Dr, Charlotte, NC   _________________________________________ The Ed Nailor Mortgage Team of Charlotte, NC Charlotte Homes for Sale Call 704-651-8704 or visit www.EdNailor.com
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By Charlotte Home Loans Your Charlotte Mortgage Lender
If the fans don't wanna come out to the ballpark, no one can stop 'em.  - Yogi Berra"and if Buyers don't wanna buy...well, that's just silly!" - Ed NailorWhat an amazing time we are in! The market is ripe for the taking and the entry fee is lower than it's been in years! Such opportunity awaits... it would be foolish to sit on the sidelines waiting to see what happens next.What am I talking about?Now is THE time to buy! _________________________________This message brought to you by the Ed Nailor Mortgage Team of Charlotte, NCProviding the Best Charlotte Mortgage Programs and Charlotte Home LoansCall 704-651-8704 or visit www.EdNailor.com
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
Eastover, located southeast of Charlotte’s Center City, formerly two dairy farms, (also formerly Myers Park Eastover), was developed by E. C. Griffith in 1927.  From the days of Earle Sumner Draper, the Southeastern US ‘premier’ urban planner to present day, Eastover has been the home of some of Charlotte’s most elite.  From cotton brokers to bankers to attorneys, the facilitators of Charlotte’s growth have resided in Eastover.  E.C. Griffith sought to create Eastover as a competitor to Myers Park.  Charlotte was headquarters to 770 textile mills, consuming more cotton than any other sector of the world.  In 1927, the piedmont North and South Carolina, officially surpassed New England in cotton cloth production.  Charlotteans not only owned numerous mills and brokered much of their own...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 I've had many buyers who are excellent at keeping their true feelings about a home in check while we're in front of sellers, list agents and/or builder reps, and I love them for it! When viewing a home or attending an Open House with the seller, list agent or a builder representative present, it's easy for buyers to sometimes "forget" that the seller/list agent/builder rep is on the other team!  They're just so darn friendly and sweet, I get it. But the fact remains that if buyers let a seller or seller's agent know they're extremely excited, "in love", just "have to have" this house, you're giving the other team an advantage. Now I'm not suggesting being rude or hostile (I've written before that there's no need to be nasty, and the other party isn't the enemy). What I am suggesting is...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 Ah, the new construction "inventory home". These can be excellent opportunities for buyers who have found the neighborhood/area they want, and are ready to move now instead of waiting for a "to be built" home. Builders don't want inventory homes, they have carrying costs associated with homes that sit empty. Not good for the builder, or the neighborhood to have a vacant, ready to move in home sit dark and lonely for any amount of time!  Buyers are the ones who can benefit though, if they keep certain things in mind: -Even if the home is still under construction, buyers may not be able to make any design changes. So whatever's been chosen for flooring/fixtures/cabinets/any other options, may be what comes with the house no matter what. This isn't always true, but it's an important quest...
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By Charlotte Home Loans Your Charlotte Mortgage Lender
Today lenders are tighter than they have been in a while with the loan products they are offering. One of the main staples of most lenders is the interest only mortgage loan. But as we have seen with the mortgage meltdown and real estate slowdown, this may not the right mortgage loan for every buyer. How can you tell if this is the right mortgage loan for you? How does it work? And what in the world does "interest only" even mean?This is explored in an article entitled: Is Interest Only Right for You?In the article, we explore what an interest only mortgage loan is. We look at how an interest only mortgage works. And we discuss if this is the right fit for you.The answers may surprise you.Interest Only Mortgage Loans | The right mortgage for you?_________________________________________...
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
Some of the most historical neighborhoods in Charlotte were known the "streetcar suburbs," those built around Uptown to accommodate trolley commuting. The first suburbs of Charlotte that were formed along the streetcar lines, extending out from the city, were Dilworth Elizabeth, Myers Park and Plaza Midwood.  The trolley is a popular attraction to newcomers in Charlotte and is always the highlight of the little ones on the tour!Latta Park, known as the "pleasure resort" was at the far southern end of the streetcar line!   Latta Park is a gorgeous 31-acre community park that is managed by Mecklenburg County Parks and Recreation.  View map of Latta Park here.Those of you who live in Charlotte, know that Dilworth is a mere hop, skip and jump to Uptown and is miles away from the southernmos...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 If you drive the southern leg of I-485, you may be interested in the upcoming meeting scheduled at the Ballantyne Breakfast Club. Hey, I drive that road too and I know what a massive headache it can be! The stretch from I-77 eastward toward Johnston/Rea is ill equipped to handle to volume of cars that drive it everyday, throw in an accident or just plain old rain and be prepared to sit for a while. Reps from the NCDOT will be giving an overview of potential remedies at the Ballantyne Breakfast Club (which is free to attend) February 2nd at 9amat the Ballantyne Resort Hotel. The widening of the southern stretch of 485 has indeed been a hot topic especially for drivers who depend on that route for commuting. Due to funding issues, any widening isn't scheduled until the middle of the next...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 Charlotte NC covers a lot of ground - over 240 square miles. Mecklenburg County which includes Charlotte and the smaller towns of Huntersville, Cornelius, Davidson, Matthews, Mint Hill and Pineville covers over 550 square miles. So why is this important? Well, it's important when searching for homes to keep in mind the total area you're searching. Just because the address says "Charlotte" that doesn't mean the same home prices, features, commuting times, and area amenities in all areas of Charlotte. Real estate is local in nature, and although the "Charlotte market" is typically talked about as a whole,  the reality is that there are quite a few sub-markets or "areas" within the Charlotte market. This also holds true for appreciation rates, average days on market, and inventory on the ...
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By Diane McDermott, Charlotte NC Real Estate Market
(Realtor®, GRI, Landis e2 Real Estate, LLC)
 Here in Charlotte, "built-in" appliances are supposed to convey with the house. But what exactly is a built-in appliance? Built-in means that it's permanently attached to cabinetry/walls/the floor, in some way affixed so that it can't be easily removed or pulled out. What it is not may surprise some buyers. That oven/range sitting in between two cabinets....probably not "built-in". The dishwasher? If it can be pulled out and removed without damaging the cabinets...probably not "built-in". And then there's the ever popular refrigerator....if it can be pulled out, un-plugged and wheeled away it's not built in, which means the sellers get to take it with them! Want to see an irate buyer? Take them to the pre-closing walk through to find that gorgeous stainless top of the line fridge they ...
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By Debe Maxwell, CRS, The RIGHT CHARLOTTE REALTOR!
(Savvy + Company (704) 491-3310)
Charlotte NC Relocation Information:  Light Rail Transportation In keeping with Charlotte's cat theme (Carolina Panthers, Charlotte Bobcats, CATS [Charlotte Area Transit System]), a new light rail, LYNX has become our new favorite means of transportation in the city!  Connectivity is key (hence the name, LYNX) in getting the city's south end into the city during rush hours.  In November, 2007, the Charlotte Area Transit System (CATS) began operation of the 9.6-mile LYNX Blue Line light rail, after having been under construction since February, 2005.  The LYNX fleet includes sixteen Avanto light rail cars built by Siemens.  The line extends from Uptown Charlotte southward to Pineville and runs almost parallel to I-77.  Previously used by the Charlotte Trolley, a heritage streetcar opera...
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