Archive for the 'Charlotte Real Estate Trends' Category

Charlotte North Carolina Turns 18!

July 2nd, 2009 categories: Charlotte Real Estate Trends, Good stuff we find, Market Snap, Raintree, The Charlotte Scoop

Woohoo Charlotte Happy 18th! The Charlotte Observer reports today that Charlotte, North Carolina is now the 18th largest city in the United States.

I’d like to add that we are number one in another category:
Number One: Fewest people who say they want to move/relocate somewhere else!

I can’t tell you how many people we talk to who are itching to move to Charlotte from Michigan, Florida, New Jersey, New York…and mostly California! That’s not to say they’re aren’t great, incredible things in all those cities**  but for overall quality of life Charlotte is winning out!  **remember I’m a 1979 transplant from Scarsdale, New York. I Love New York city but would prefer to visit.

In the last year I’ve had one person say they wanted to move from Charlotte (good reason - they missed family)

So the good news is Charlotte continues to grow 2.7% in the last year! If you’re in the mood to join that number here are some really fantastic homes in the Raintree golf community in South Charlotte just to whet your appetite!

Spoken by Mike Gibbons | Discussion: No Comments »

Charlotte Real Estate: Some Good news and Some Bad

June 24th, 2009 categories: Charlotte Real Estate Trends, The Charlotte Scoop

Honey it’s about the car; the good news there’s not a scratch on it and it’s clean, the bad news…..

American real estate is at best a mixed bag - we seem to be taking one step forward and a half step back. Don’t get  me wrong that’s an improvement from not too long ago when we seemed to be taking two steps back and back and back.

In today’s Charlotte Observer Stella Hopkins declares that while things are still tough in Charlotte…

“There are several factors helping sustain Charlotte-area prices. For one, they didn’t rise as sharply as in some bubble markets and so they didn’t have as far to fall. Also, the area has not been as hard hit as some by foreclosures.”

According to the National Association of Realtors purchases actually rose 2.4% in May (the good news) “…marking the second monthly gain in a row, spurred by tax breaks for first-time homebuyers and lower mortgage rates.”
So what does this mean for Charlotte home buyers and sellers and….yes you the fence sitters?

1. If you’re looking to buy a home now is a really good great time (especially if you are in the market for homes priced $300,00 and above)
2. If you’re looking to sell your home– make sure you hire an excellent, hard working Realtor, someone who is succeeding in this market - Charlotte MLS Listings Pendings Sold.
3. If you’re a first time home buyer (including those who have not owned a home in three years) don’t miss out on Uncle Sam’s $8000 tax credit!

And just an observation we talk to an awful lot of people in New York, California, Michigan, Florida etc who are saying “as soon as I can sell my house I’m moving to Charlotte” we rarely hear people who live in Charlotte saying they want to move to another city – just sayin’.

Spoken by Mike Gibbons | Discussion: No Comments »

Charlotte Real Estate, Stick a yard sign in it, it’s…

June 12th, 2009 categories: Charlotte Real Estate Trends, Friday Fun, Real Estate Grind, The Charlotte Scoop

Stick a yard sign in it…the Charlotte residential real estate market is dead…or is it!? The media of course would have you believe no-one is willing or able to buy a home ~ foreclosures are climbing, credit scores are dropping and now interest rates are on the rise. Well…. [Jane] It just goes to show you it’s always somethin’ if it’s not one thing it’s another…

I know you’re thinking what happened to Friday Fun? what’s with all the real serious, real estate — well we wanted you to know the news of real estate’s death has been exaggerated — The TalkCharlotte Team Bunch and our clients are doing quite well here in Charlotte…just sayin’

In the past few months we’ve helped clients close on eleven beautiful homes over $2,000,000 with another seven homes ($2.5mm) closing soon! And we’ve got eleven more homes listed with a few more almost ready to go! Talk Charlotte Homes

So while there’s no doubt the Charlotte real estate market is tough...it’s NOT DEAD. We’re busy and if you’re looking to buy or sell a home in Charlotte you should be too! It may not be the “bitter bottom” but common sense says it’s a good time to get serious about a home! We’re not about to get on this wagon…are you?

And you’re a first time home-buyer please, please, please don’t forget that the $8,000 tax credit expires November 30. For you it could be a “perfect storm” of home buying opportunity — prices are down, interest rates are low and there are lots of home to choose from. Remember to close by November 30 you need to be putting your purchase offer in at the latest mid-October which is only 4 months away! We really can help you~drop us an note right here

Spoken by Mike Gibbons | Discussion: 2 Comments »

Friday Fun: What NOT to do on Facebook…just saying

May 22nd, 2009 categories: About Our Realtors, Charlotte Real Estate Trends, Friday Fun, Giving Back in Charlotte, Market Snap

(Watch the video below)

Facebook, Twitter, Blogging, and that next big thing  ~ it’s all part of a big ball of virtual wax called social networking. We have come a long way (Thank God) from the anonymous “AOL chat rooms” where you did not know who you were chatting with and too many were out waving their “freak flags high”. Today online is different because it’s the same as real life ~ real people are using the internet to connect and stay connected ~ believe the naysayers at your own peril ~ but people are connecting, learning and engaging online and those online connections are building and strengthening relationships in the real world in coffee shops across America! Join In!

Today social media is all about transparency ~ transparency is the new black! TalkCharlotte is now well - known on Twitter follow us, Facebook become a fan and of course we’ve been right here a leader in real estate/community blogging.

Many say all this social networking is nonsense, a waste of time or worse. I can appreciate that and it can be a time drain but I also believe that social networking is here to stay and will evolve nicely. Where I think people go wrong is making it too much, sometimes ALL about themselves, their ideas, their links, their stories, their cat… (icanhascheezburger truly for the cat lovers, serious cat lovers)

Want social media to work for you? Replace these two words ME & NETWORK with these three YOU & CONNECT & ENGAGE and you will thrive in the “social media space” (been waiting to use some geek speak) You’ll enjoy the interactions, the learning and you will see time wasted will become time treasured.

Oh but there are rules, manners and well this video says it best….“suggest you not friend Donna Whitehouse” just saying…

Spoken by Mike Gibbons | Discussion: No Comments »

Foxcroft Parade of Homes Sunday May 17 - Follow the White Balloons, Follow the White Balloons!

May 12th, 2009 categories: Charlotte Real Estate Trends, Communities, Foxcroft, Giving Back in Charlotte, Rhonda Gibbons

Charlotte is in full bloom and our beloved Foxcroft neighborhood is leading the way. What better way to explore one of Charlotte’s most distinctive neighborhoods than with the low pressure & convenience of a Community Open House!

Eight of Charlotte’s best Realtors® roll out the red carpet & white balloons to showcase eight of Foxcroft’s most beautiful homes for sale! Join us this Sunday May 17 from 2-4 pm for a community wide Foxcroft open house! Special thanks to Mary Jane Ramsey, Helen Adams & Rhonda Gibbons, RE/MAX Executive for pulling this together!
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4000 Columbine Circle Rhonda Gibbons | RE/Max Executive 834051 MLS    $639,000
As you’d expect-Foxcroft charmer! Unique pegged wood floors on main level, large formals, vaulted greatroom impressive stone frpl & built-ins. Kitchen updated w/ tile floor, counters, backsplash, new lighting, gas cooktop. Master on main. Spacious BRs & oodles of storage. Large patio overlooks park-like backyard retreat w/garden plantings & tons of trees!Subject to bank approved short sale.

4334 Columbine Circle Valerie Mitchener | HM Properties 830173 MLS    $1,200,000
Complete renovation & addition in Foxcroft in 2006. This home features 5 bdrms, a home office & playroom. 9 ft ceilings up & down. Professional grade kitchen w/ Carerra marble countertops, Wolf 48in range, island w/ handcrafted walnut butcher block top. Stone fireplace in great room. Master with his & her vanities, 2 closets. Brkfast rm overlooks rear brick patio & professionally landscaped yard.

2134 Edenton Road Suzanne Campbell | HM Properties 814549 MLS     $699,900
Classic traditional, well maintained home in desirable Foxcroft! Lg pvt fenced back yard w/ irrigation backs up to bike path. Beautiful formals w/ detailed moldings, shutters & neutral colors. Office w/ fr doors. Cozy den w/built-in’s, wetbar & fpl. Spacious kitchen w/ dbl ovens, desk, big bkfst room & large pantry. Sep laundry room. Lg master w/ walk in closet. Double closets in other bdrms.

3912 Silver Bell Drive Mary Jane Ramsey | Helen Adams 854245 MLS    $790,000
Wonderful story & 1/2 old brick in Foxcroft E. #one location close to everything(Private & Public Schools, SouthPark). Beautifully landscaped yard with irrigation. 4 or 5 bedrooms-huge play/media room. All rooms very spacious. Solid surface countertops in kit. Separate laundry. You can walk to Ben&Jerry’s on walking trail w/o having to cross Fairview! Solid house-original owner. PRICED TO SELL

3116 Valencia Terrace Connie Nuttall | Allen Tate 814666 MLS    $805,000
Pristine one owner home in Foxcroft. Updated Kitchen w/granite countertops, natural cabinets, wood floors, tile backsplash, sunroom opens to breakfast room, overlooks professionally landscaped, parklike yard with 2 Koi ponds. Huge bedrooms, each with bath access. Walk to Caribou Coffee, Brixx, Ben & Jerry’s,etc. Walking path in back.

2027 Clematis Drive Mark Munson | Dickens Mitchener  814951 MLS    $900,000
Immaculate full brick home w/large formals, cozy study & warm and inviting family room. Completely renovated bathrooms & kitchen w/stainless appliances, granite countertops & separate marble work area. All rooms are very spacious. Beautiful breakfast area/sunroom overlooks professionally landscaped backyard. Enjoy the screened-in porch for those great weather days! Lots of trees for privacy!

4033 Silver Bell Drive Logan Foose | Cottingham Chalk / Bissell-Hayes 850592 MLS    $735,000
Charming 4BR,2 1/2 BA home sitting on .78 acres in heart of Foxcroft! Home has been beautifully maintained & decorated. Features include large rms, hardwood flooring, security system, huge deck overlooking lush landscaping, new privacy fence, 2-car carport, and more! This is a wonderful opportunity to be in Foxcroft East on a desirable street & huge lot!

3924 Columbine Circle Ryan Gehris | Housespad LLC  847232MLS    $899,000
Renovated 2 story brick home on a beautiful, flat setting in Foxcroft with 5 BR s & 4 full BA s. Sunny remodeled kitchen with Sub-Zero Refrigerator, Thermador appliances, a 10′ x 4′ island with prep sink & disposal & a computer niche. Hardwoods on lower level, stairs & upper level landing. MBR with 2 large WIC s & His & Hers baths. Close to Charlotte Country Day and Providence Day private schools.

Look for the white balloons ~ maps will be available at each home!

Spoken by Mike Gibbons | Discussion: No Comments »

Out to make a killing in real estate? Charlotte’s probably not for you!

April 23rd, 2009 categories: Charlotte Real Estate Trends, Finances, The Charlotte Scoop

A Realtor telling you you’re probably not going to get rich** ~ depending upon your view that’s either killing the sale or refreshing. For those of you out to make a killing ~ you might check here, here or invent one of these.

Are they gone yet? OK good, for the rest of you…here’s some refreshing news on Charlotte Real Estate. The Charlotte market is sound — it has not collapsed nor is it (or was it ever) as apparently RED HOT as Naples, Florida (see above). Most of the people in Charlotte are working and living comfortably, happily in their homes. Are things tough? Sure they are and we’re not immune to the economic woes.

But here’s the thing about homes in Charlotte we have not had a citywide boom (OK maybe in 1848) nor have we had a bust! We’ve have some incredibly hot areas like Union County, Ballantyne and Myers Park / Dilworth but overall our market is steady.  ** I should clarify my “not going to get rich” comment.  Don’t get me wrong there are many many many people who have and continue to get rich from Charlotte real estate. But most of our clients just want a great home, in a nice neighborhood with some better than average price appreciation. For you the following Charlotte market statistics are encouraging.

According to and courtesy of Zillow take a look at the following one and ten year Charlotte home price trend charts ~ I know steady appreciation boring…..but in 2009 Charlotte residential real estate Boring is the new Black!

Charlotte Home Price Appreciation (One and ten year)

Ten year (2000-2009)

One Year (2008-2009)

I apologize if you were looking for a more exciting Charlotte real estate story ~ but if you’re like us right about now we could use a little less excitement thank you very much! If you like what you’re read, you’ll love working with our team please give us a call  888-297-6100 we’d be happy to help you with a rational, sane and smart approach to finding a home to live in here in Charlotte North Carolina!

Spoken by Mike Gibbons | Discussion: No Comments »

Short Sales and why they can be anything but short!

April 20th, 2009 categories: Charlotte Real Estate Trends, Home Financing

A real estate short sale is not to be confused with a short salesperson! >

I’ll say up front this post about real estate short sales is not going to be the most exciting or particularly uplifting Talk Charlotte topic! Nonetheless if you are in this situation as (a Charlotte home seller) or you’re looking to purchase a short sale property hopefully this short (haha good one) explanation will help.

So just what the heck is a short sale and why is it different than a foreclosure ~ well Wikipedia gives a very straightforward explanation ~ the transaction itself can be much more complicated (do not attempt this on your own)… from Wikipedia on Short Sales

“In real estate, a short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. This negotiation is all done through communication with a bank’s loss mitigation or workout department. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender, sometimes (but not always) in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market and the borrower’s financial situation.

A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property. Often a bank will allow a short sale if they believe that it will result in a smaller financial loss than foreclosing as there are carrying costs that are associated with a foreclosure. read more

There is nothing wrong with buying a short sale property - in fact a short sale is usually a little less foreboding than a full on Foreclosure sale and in both cases you can get a pretty good deal. Please consider this though just because its says short sale, auction, foreclosure ~ the three oldest rules still apply

1. You get what you pay for
2. Buyer beware
3. Remember and repeat to yourself often rule #1 & #2

The other thing about short sales is they are most often anything but short — when you have distressed homeowners, mortgage companies and banks involved…well lets just say these thing take time and remember too your offer is a binding contract until it is accepted or rejected which means you may be in “buyer limbo” possibly waiting for months yes with an “s”! My friend and Tuscon Realtor Kelley Koehler (aka @housechick for you Twitterers) does a nice job discussing foreclosures and short sales on her blog post Buying Short Sales and Foreclosed Homes in Tucson

So bottom we are seeing a lot of short sale activity - Right now Rhonda has a beautiful short sale property in Foxcroft listed. The entire TalkCharlotte team went through rigorous Certified Distressed Property Expert (CDPE) training and Donna has earned her CDPE designation (more on that in a subsequent post). So we are ready and trained to help you in this new area of Charlotte real estate.

I will leave with this thought though…remember that the real estate market is very efficient and there are just as many fairly-priced “normal” properties for sale in Charlotte , ready to move into without all the hassles of foreclosure or short sale uncertainties ~ ask us and whether it’s a short sale or plain old home for sale (Betsy has a beauty in The Palisades) the TalkCharlotte team can help find the best home for you!

Spoken by Mike Gibbons | Discussion: No Comments »

Uptown Charlotte On Sale: Get Your $99,900 Condo-Now!

April 14th, 2009 categories: Charlotte Real Estate Trends, The Charlotte Scoop

Maybe it’s a sign of the times or maybe just a very shrewd move by Fourth Ward Square Associates ~ either way if you are a first time buyer** and want to own in Uptown Charlotte you maybe want to make your way down to Fourth Ward Square today. After all as the ShamWow guy says… “I can’t do this all day!”

OK, sorry for the dramatics but if you are in the market for a condo in Uptown Charlotte then this is something you may want to check out. First read the Charlotte Observer Doug Smith’s excellent as always take on the apartment to condo conversion that has everyone buzzing. In part…

“Word travels fast when condos are selling for $99,900 in uptown Charlotte.

Buyers have snapped up 58 since news of 154-unit Fourth Ward Square’s conversion to condos from apartments filtered out a few days before Easter. One- and two-bedroom condos, between 560 and 1,212 square feet, are listed from $99,900 to $120,900.

The Fourth Ward Square exterior will get a new roof, new paint and other improvements, but the biggest emphasis will be on contemporary interiors. Condo features include new carpet and flooring, full-size washers and dryers, refrigerators, built-in microwaves and dishwashers and plumbing fixtures. The pool will be converted to saltwater. The refurbished club will have a fitness center, business center, conference room and catering kitchen.”

Give the TalkCharlotte team a call and we’ll be happy to help but hey “we can’t do this all day”…just kidding!

Spoken by Mike Gibbons | Discussion: No Comments »

Charlotte Real Estate, not like all the other kids!

April 1st, 2009 categories: Charlotte Real Estate Trends, Market Snap

Sure we enviously salivated a bit when Phoenixions, San Franciscans and Las Vegans (vegans well we won’t go there!) were sitting on real estate equity rocket ships - buy a home today, wait a bit and it doubled or more! Charlotte on the other hand plugged along with steady if not stratospheric home appreciations. Now don’t get me wrong we have our own hot areas, Dilworth, Myers Park and Ballantyne and there was a time when Charlotte’s uptown highrise condos were flipping faster than pancakes after midnight at the Athens Grill — pity those days are gone for Athens pancakes and flipping condos – I do miss Athens!

Today in the Charlotte Observer’s Stella Hopkins report Decline slows in area home prices says that while the Charlotte market may be down it is by no means out. Year over year we have seen a 8.2% home value decline while cities like Phoenix, San Francisco and Las Vegas have seen declines over 32% ~ 8.2% it’s kinda like totaling the car into the guardrail versus going right off the cliff! We don’t want to disparage any of our fellow cities, love them all and they’ll come back - but the point needs to be made that too often the national “crisis mode” media does not fairly reflect all housing markets! Real estate always was and always will be LOCAL - housing is a necessity and as Rhonda so eloquently put it this 911 market is turning into a 411 market. We’re here to help!

Spoken by Mike Gibbons | Discussion: No Comments »

Charlotte NC, Boomtown?

March 31st, 2009 categories: Charlotte Real Estate Trends, The Charlotte Scoop

Did you know Charlotte was once a goldrush boomtown! Things like the Reed Gold Mine, our Goldrush Trolley System, the Mint Museum, the beautiful miner statue (shown here) and our beloved UNCC 49ers all reflect the rich heritage of a gold mining boomtown (turn it up)!

So what now? Is Charlotte a boomtown, is any city really a boomtown anymore these days? One of our favorite Charlotte Observer columnists and bloggers is Peter St. Orge - he recently started up what he calls The Squeeze — I suppose Charlotte Scoop was taken haha. Peter does a nice job summing up Charlotte’s Boomtown status in his interview with UNC Charlotte’s John Connaughton about an upcoming PBS show “Frontline” feature on Charlotte read here.

Spoken by Mike Gibbons | Discussion: No Comments »

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