Archive for January, 2008
Matthews, NC| Homes for Sale in Matthews, NC
January 31st, 2008 Categories: Buy A Charlotte Home, Matthews, South Charlotte
Matthews, NC Homes for Sale
Only a short drive from Uptown Charlotte, Matthews is a popular choice as a “move to” location in the south Charlotte area. It combines a small town feel in its historic downtown, modern suburbs, communities at every price point, and has lots of sidewalks, a great public library and a revitalized downtown. Matthews is the rare suburb that has a small town feel but offers all of the important shopping, dining and entertainment. About 35 minutes from uptown,there is Rapid Bus Transit to The Bank of America building daily.
Matthews Alive, an annual Labor Day celebration draws folks from all over south Charlotte. Like to see more photos, try my Matthews Photo gallery. Like to see New Homes in Matthews? Visit my Matthews New Homes site, some very cool search tools here, move the map pin to where ever you want to search! Search For Matthews real estate here.
Here is the Matthews Homes for Sales Report for single family homes:
| Median | |||||||||||
| Size (SF) | Price | CpSF $/sf | LYSold | ||||||||
| There are | 43 | Homes For Sale | Under | $250000 | but More Than | 000 | 1920 | 196688 | 102 | 517 | |
| There are | 154 | Homes For Sale | Under | $400000 | but More Than | $250000 | 2758 | 315667 | $114 | 250 | |
| There are | 85 | Homes For Sale | Under | $600000 | but More Than | $400000 | 3511 | 476783 | $136 | 123 | |
| There are | 39 | Homes For Sale | Under | $800000 | but More Than | $600000 | 4323 | 670262 | $155 | 55 | |
| There are | 11 | Homes For Sale | Under | $1000000 | but More Than | $800000 | 4732 | 891554 | $188 | 7 | |
| There are | 3 | Homes For Sale | OVER | $1000000 | just 3 | $1000000 | 4886 | 120760 | $247 | 9 |
Table notes (a work in progress, sorry if its not perfect) : LYSold, last column on right, is the number of units sold in this price range in the prior 12 months. Both price and size are the median for their price point. Year to year appreciation studies- based on SOLD average cost per square foot prices are available to clients.
A few thoughts about the market– generally Matthews has a very low absorption rate- contrary to some local “doom and gloomers” and while it has a lot of selection- like everywhere it is a strong buyers market, the homes do sell and remain comparatively undervalued to its more expensive further out neighbors. You may search the MLS for Matthews homes at any time by clicking the Red House, when asked City- find Matthews.
Fun things to do abound in Matthews: the Siskey YMCA is only a few minutes away offering an indoor pool, several indoor basketball courts, an extensive free-weights room, an extensive treadmill and weight machine room, many different types of exercise classes and a large outdoor water park. For those more interested in a tasty meal than a treadmill try the oysters at Vinnie’s in downtown Matthews. Then if you are there on a summer Saturday night walk over to Stumptown for Movies In The Park.
Like to Search for Charlotte Homes? If you’d like to find out more about living in or moving to Matthews, NC, I lived there 7 years, so call me (Terry) direct at 704-351-1519.
Thinking about moving to Charlotte? Facing a job transfer, a quality of life move, or just want to come for the weather?
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Charlotte NC|Weddington NC Homes For Sale
January 29th, 2008 Categories: Buy A Charlotte Home, Union County
Weddington is a close-in Union county suburb of Charlotte known for its great homes, communities and lifestyles.
A farming and horse community for generations has converted to a bedroom community of Charlotte. Known for its lifestyle, Weddington has been one of, if not the most popular “Move To” location in the greater Charlotte area for the last decade, and is a big reason Union County is the fastest growing county in NC. Please see related posts in the Union County Category on the right– photo on right is from Brookhaven, an amenity-rich John Wieland Community- from the 400’s, average 600’s. You can use the Red House to search the MLS for Weddington Homes, search the city of Weddington.
Here is the Weddington Homes for Sale report:
| Median | # Sold | ||||||||||
| Size (SF) | Price | CpSF $/sf | Prior year | ||||||||
| There are | 0 | Homes For Sale | Under | $250000 | but More Than | 150000 | # sold | ||||
| There are | 12 | Homes For Sale | Under | $400000 | but More Than | $250000 | 2833 | 364283 | $129 | 13 | |
| There are | 28 | Homes For Sale | Under | $600000 | but More Than | $400000 | 3610 | 490257 | $136 | 31 | |
| There are | 31 | Homes For Sale | Under | $800000 | but More Than | $600000 | 4323 | 721097 | $167 | 22 | |
| There are | 40 | Homes For Sale | Under | $1000000 | but More Than | $800000 | 4672 | 882906 | $189 | 20 | |
| There are | 25 | Homes For Sale | Under | $1500000 | but More Than | $1000000 | 5373 | 1316462 | $245 | 22 | |
| There are | 25 | Homes For Sale | Under | $3000000 | but More Than | $1500000 | 7173 | 2154560 | $300 | 11 | |
| There are | 3 | Homes For Sale | OVER | $3000000 | 7655 | 3431500 | $448 | 2 |
A few thoughts – this is an example of a strong buyers market in Charlotte with good selections at most price points. Our city wide absorption rate at the end of January is about 4 months. The Union County inventory and absorption rates are somewhat skewed by the very- repeat very slow sales in the 4th quarter of 2007, leaving both unit sales lower for the year, and number of homes on the market higher. Prices are adjusting, and spring is around the corner. This will be a great season to buy a home in sought after Weddington.
As you can tell, I (we) are “numbers” people and detailed appreciation reports are available to clients.
Thinking about moving to Charlotte? Job transfer, quality of life, the weather… the 3 most common reasons for moving to Charlotte. Like to see more Charlotte Homes and Communities?
Want more Charlotte information? Read on or call me direct at 704-351-1519 Like to Search for Charlotte Homes
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Charlotte, NC| Homes for Sale in Waxhaw, 45 minutes to Uptown Charlotte NC
January 27th, 2008 Categories: Buy A Charlotte Home, Union County
Homes for Sale in Waxhaw, a Union County favorite
Popular Waxhaw, NC is located about 30 miles south of Uptown Charlotte, what I call close-in Union county and is one of the fastest growing areas in the greater Charlotte Area.
Waxhaw homes and neighborhoods combine the country feel of large lots with the more modern feel of large homes and in some cases large subdivisions.
There is something for just about everyone in Waxhaw. Prefer a secluded lot with 2 acres of land? Waxhaw has it. Prefer a half an acre, a large house and a subdivision, well you’re welcome too at Lawson, Quellin, and many others. Luxury Homes are found throughout, but check the Skyecroft and Chattelaine posts elsewhere in the blog. (Use Search above) Below is a breakdown of the homes currently on the market by listing price:
There are 115 homes for sale for under $300,000
There are 196 homes for sale for under $500,000, but more than $300k
There are 105 homes for sale for under $750,000, but more than $500k
There are 91 homes for sale for under $1,000,000, but more than $750k
There are 73 homes for sale for more than $1,000,000
The most expensive home on the market in Waxhaw is listed at almost $4,000,000 and offers 6 bedrooms, 8|3 baths and 11,509 sq/ft. Waxhaw is a great area for those looking for a country feel but who need to be within a short drive of the city or South Charlotte.
If you’re looking for a home in the area contact me direct at 704-351-1519. Like to Search for Charlotte Homes
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Charlotte, NC|Great Townhome Values In University City Area
January 24th, 2008 Categories: Buy A Charlotte Home, University City
What can you buy in the University City Area of Charlotte for under $150,000? Quite a lot actually…
First time home buyers, investors and 2nd home buyers take note- these University City townhouses have a lot to offer, and are located between University of NC at Charlotte and Lowes Motor Speedway, 5-10 minutes to each.
I mentioned last week that I had a home buyer put a contract in at Mallard Lake Townhomes, pictures on left, and get a great University City townhouse. Well I took a few pictures of some of the other town houses in the area, and put together this report.
There are 54 Townhomes for sale under $150,000, the median price? $112,000
There are 14 townhomes for sale under $200,000, but more than $150,000. The Median? $164,900
There are 3 Townhomes under $250,000, but more than $200,000. The most expensive? $219,900 for over 2500 sf.
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Charlotte, NC|Mallard Lake Townhomes A University City Bargain
January 23rd, 2008 Categories: University City
A Townhome Bargain at University City in Charlotte? You bet!
Last week working with a 2nd home client I discovered the *McCar Homes project Mallard Lake, just off 485 at Rt 49, a townhome-townhouse and single family community in the heart of the University area, 3 minutes off 485. What a great deal! And they have a few more.
They have 4 Inventory homes at this writing- and this is where the deals are (see below) They are classified as Inventory, but have late spring/early summer delivery dates. There may be something sooner, call me. They are ALL 3 story with a garage on the first floor, deck off the 2nd floor, hardwoods, granite and tile backsplash, most with a guest room and full bath on the first floor, as well.
A Chestefield, with 4 br, 3.5 ba and 1959 sf at $162,130- ideal for a first place or 3 student rental
An End Unit Greenfield,, 1,959 sf, 3br/3.5 ba, $163,800
And two more units less than $161,000…
As to the deal, inventory is where it s at if you are looking for a bargain.
These units are selling quite well, and their proximity to I- 485 and the University of North Carolina at Charlotte are very strong value anchors- the units are very well done, the value fundamentals are excellent… so what are you waiting for? Call me and lets go see these. 704-351-1519Â Search for Charlotte Real Estate…
*I am not affiliated with McCar homes in any way, I represent buyers. I have had multiple buyers have good experiences with McCar, or I wouldn’t have written this post- but remember they are new home builders! 
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The Levine Museum Of The New South- Charlotte, North Carolina
January 22nd, 2008 Categories: Things To Do Charlotte
“What is the New South?” asked a Charlotte home buyer this past Friday…
If you live here in Charlotte, you’ll hear the term often, something like “Charlotte is a great example of the New South” or if you live in or near Atlanta, you’ll know they claim to be the “Capital of the New South.” I had lived here nearly 5 years before hearing about a new Museum in town, that was named, curiously enough, The Museum of the New South. I had to see… this picture I took yesterday on Martin Luther King’s holiday as my wife and I, and many others took advantage of the free admission.
Again, what is the New South? Here is what I’ve told folks for the last several years: It was the simultaneous ending of all the Jim Crow laws of segregation in the south, that then allowed American business to invest in the south, and industrialize the south- something few American business would do prior- with a few exceptions like textiles- until the South desegregated. In the years following the tumultuous 1960’s, investment in the south took off as business investment soared and American business discovered that these were very business friendly states eager to have the jobs and income that these new plants and factories provided. In Charlotte, it was the friendly but fierce competition between two banks that spurred growth here, as each tried to be the first nationwide bank.
As I visited the museum yesterday on MLK’s birthday, I came to realize they talk of the New South as the time since the end of slavery– from Re-Construction to the Civil Rights movement to the present. And that is what the Museum is all about.
I now believe if Atlanta can claim to be the capital of the new south, then we Charlotteans need to be the “Heart of the New South.”
This is a great museum that explains Charlotte’s positive record on civil rights, from integrating at the drugstore counters in 1960 (3 years ahead of the famous Greensborough Woolworth sit in) to the 1963 effot by teh mayor and Chamber of Commerce that he led personally to end segregation in Charlotte.
Read on for the story in pictures from inside the Museum. Search for Charlotte Real Estate…
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Charlotte, NC Bank of America to buy Countrywide (still)
January 21st, 2008 Categories: Charlotte Business, Real Estate News
Charlotte, NC| Bank of America still planning on buying out of Countrywide
by Bob McDonald (Research and Marketing Assistant)
First and foremost I hope everyone is enjoying a relaxing day away from work to commemorate Martin Luther King day. Martin Luther King Jr. was an amazing man who showed that there is power in a dream and that one person can make a difference. Normally I’d be working the 8:30-6 shift at East Carolina University’s Online Programs Office (it pays the bills while I’m finishing up an MBA) but it’s MLK day so no school, no work for me!
I’ve been researching the Countrywide purchase and did want to post this -about a still wobbly merger that could add some traction to the housing correction. Last week everyone heard and was excited (Wall Street Journal and Reuters) that Bank of America (BoA) planned on following-up its 2 billion August investment in Countrywide with outright purchase of the company in the 3rd quarter. Countrywide, the largest mortgage lender in the US was in deep trouble before BoA’s August bailout. I believe this is good news for any individual interested in buying, selling, or investing in real estate. BoA has the deep pockets to withstand the sub-prime situation and keep Countrywide intact. This week fears were swirling again as analysts suggested that BoA had overvalued Countrywide at $3.8 billion or $6.55 a share. While BoA and Countrywide representatives both refused to comment on the situation the deal is still believed to go through as BoA had several broadly written clauses in the initial contract for further re-evaluation of Countrywide’s worth, if their situation deteriorates further.
If the deal does go through it would make BoA the largest mortgage lender in the country. BoA is the area’s third largest employer with almost 14,000 jobs in the Charlotte metro area; this number would probably grow with an acquisition of Countrywide, and its huge portfolio of loans. That, plus Countrywide access to BofA customers? This could be a big addition for the Charlotte area in the years to come in terms of job growth and development. That would be a a win/win, and for Countrywide, preferable to the alternative.
Thanks for reading, don’t be shy and comment.
Sources
Mortgage News Daily
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