This is a great time for a buyer, because now they are in a positive position, to BUY!. Let's face it, with the mortgage rates at a 50 year all time low, you would be gambling to see if it goes any lower! It appears to me that inventory is taking longer to offload, but luckily has not affected the percentage gained by the seller. One other good indicator of things to come, is the fact, that Charlotte's Uptown Office/Commercial vacany rate (2.3%) is at an all time low, lower than NYC (4.7%), and showed the sixth-largest increase in lease rates. The average rate jumped from 2006, 27.3% higher! This means all our buildings are almost filled up with businesses, and that means more jobs, which means more people and more homes to fill! This article, says Charlotte is still #6, for economic conditions for businesses! Lets hope we get stronger for 2009, because I am sure we will be one of the first markets to bounce back!
Charlotte Real Estate Trends ::
Home and apartment construction nationwide fell in July to its lowest level in more than 17 years. This is all reported by the Charlotte Business Journal. The U.S. Commerce Department said builders broke ground on 965,000 housing units on an annualized basis, down from a pace of 1.08 million in June and the weakest showing since March 1991. However, July's performance was slightly better than the 950,000 units analysts expected. The report showed that construction of single-family homes in July fell by 2.9 percent from the previous month to a pace of 641,000. That is the lowest mark since January 1991, when the economy was teetering on recession. The Commerce Department said unsold new homes declined to a 10-month supply in June, down from a peak of 11.2 months in March but still significantly above historic norms. Meanwhile, inventories of existing homes represented an 11.1-month supply in June, the second highest level in 24 years, according to the National Association of Realtors. Housing permits also fell steeply, according to Tuesday's report, a sign that construction starts likely will continue to decline. Permits were reported at 937,000 in July, a 17.7 percent drop from June but above analysts' expectations of 925,000.
Explore Charlotte neighborhoods at street level–virtually!
Now Enjoy Google "Street View" only at www.LovingCharlotte.com
We still have Microsoft Maps "Bird's Eye View" too! So you can really explore your home before you even set foot in Charlotte.
Need help, understanding it, watch this short 2 minute Google video
Get your Walk Score, here too!
What is it? It is the latest feature we have added to enhance your knowledge of where you may want to live! When you click on "View Details", you can scroll to the bottom of the screen to see your "Walk Score". It's not just for walking but also driving. It will tell you how close that grocery store, or fitness center, or heck even the local tavern! You won't find this on too many websites! So come back again, and again, to get your "Walk Score" on!
The Charlotte real estate market has shown steady growth in recent years, and all evidence suggests this boom is destined to continue. Union County is now the 7th fastest growing county in the nation! Union now has the state’s second-highest median income, second only to Wake County. This is because Charlotte is the second largest financial center in the U.S., next only to N.Y.C., where many people are now coming from. Charlotte is a progressive city with "Southern charm"! I hope to help you find a dream home and after we can sit and rock on my porch, drink some "Sweet Tea", and reminisce about our old homes. Not a fan of the sweet tea, then try this southern favorite, RC Cola and a Moonpie!
Recently, ABC Nightline did an exposé on Charlotte real estate and its explosive, constant, steady growth. Check it out — it will make you feel good for moving here, or it will make you want to move to Charlotte real soon!
Also people looking to retire need to check out South Carolina or here. Check with a tax advisor or accountant, but they allow more of a deduction on your pension. They have excellent schools (for resale value, or for a school aged family), and even lower taxes, are about a half hour from center city Charlotte, or minutes from Ballantyne.
You'll also find our web site to be a one-stop resource for your Union County real estate research. I am just a phone call away (704)-607-4729 and eager to talk about the local market for condos or homes, or preconstruction, or whatever is most interesting to you! I have just become a member of the Union County Home Builders Association, this will allow me to stay connected with many top builders. We delight in helping people succeed in this market, and when our clients come out of the transaction breathing that big sigh of relief, we're just as satisfied as they are!
Also all you Buyers out there, take note of our FSBO (For Sale By Owner) Link. You will not see this on any other website! I actively pursue taking pictures of these homes before they join a real estate. Why? Because your perfect home may not be listed on the MLS!!!
Proud of your Community? Allow me to feature it like this one:
Providence Downs, once you are here, you have arrived!
The number of homes that have sold above $750,000, or those considered High-end for Charlotte, have plummeted according to the National Associations of Realtors, and according to my own analysis.
From the first quarter of 2009 there were only ...
The average home size is shrinking according to third quarter 2008 statistics, from the U.S. Census Bureau. The second quarter had an average home size of 2629 sq. ft. vs. 2438 for the third quarter. That is a whopping 7.3% decrease in th...
FOR ALL AGENTS WORKING ON FORECLOSURES OR SHORT SALES
If you are working with a buyer who is going to purchase a foreclosure or a short sale, remember to read every addendum. I just ran into one the other day that said that the se...
First lets start with some good news! -
Charlotte ranked No. 7 on a list of the top 10 markets for real estate investing based on HomeVestors report!
In ascending order, the top markets are:
10.) Chicago and Kansas City
9.) Milwaukee
8.) St. Lou...
Here is a list of some things you should do and know before you buy that foreclosure!
1.) When was the foreclosure process started? Get a copy of the foreclosure notice or NOD - Notice of Default.
2.) Know the "Chain of Title", also...
Charlotte Real Estate gets a little Greener!
Just think, instead of going out for a picnic at lunch, if you work at the Federal Reserve Bank (of Richmond) in Charlotte at the corner of Trade and Caldwell street, you will be heading to the roof!
T...
One more thing. I saw this written on a post on City-data.com, and thought it rang so true, I am passing it on here! Also click on this link for another great post on City-data.
"When looked at as a whole, many say there are really three Union Counties. The western portion is made up of communities such as Weddington, Waxhaw and Marvin that attribute their recent growth to spillover from South Charlotte’s luxury homes. Monroe, the county seat in the geographical center of the county, is the center of government and industry. And eastern Union County, including the towns of Marshville and, farther north, Unionville, retains its largely rural appeal and is home to the county’s still thriving agricultural base.
Together, the 14 incorporated towns of Union County offer a combination of country charm and urban convenience promising something for just about everyone."
So please, have a look around, and contact us with any questions you might have about the market or our services. No question is too mundane - were here to help!
