Archive for July, 2008
The Charlotte Mortgage Update July 31, 2008
July 31st, 2008 Categories: Real Estate News
Charlotte Mortgage Rates Rebound
It has been a good week for Charlotte mortgage rates! We saw a tremendous run up in rates recently based on a surge in the stock market. There was also a lot of concern over the whole Fannie/Freddie issue and more bank failures.
The President signed the most important and impactful housing bill in decades this week and that has reassured many about the stability in the mortgage markets. Also as GAS prices has dropped the concerns over inflation has given way a little too. That is always good for mortgage rates.
Inflation is probably the single biggest factor to watch going forward, but politics, natural disasters, and economic reports can all impact mortgage rates. Right now, as long as gas prices continue to drop rates should continue to improve unless another significant factor throws us off.
Current Advice: FLOAT CAUTIOUSLY / RATES SHOULD IMPROVE
30 Year rates are around 6.250% and 15 year fixed are running around 5.875%.
We offer rate protection against higher and lower rates! If that peeks your interest – give me a call!
Product Highlight
USDA RURAL HOUSING
If you are looking to buy a home outside the Charlotte city limits, you might qualify for a Rural Housing Loan. I just qualified a couple for one yesterday for $240,000 in Mooresville!!
Highlights:
– 100% Financing
– Income limits based on family size
– No monthly PMI
– Relaxed Credit requirements
– Fixed Rates around 7.00%
– Home Repairs can be financed in if appraisal is high enough!
You can Apply Today at http://www.mycharlottelender.com/applyNow.html.
——————————————————-Â Thanks Olan
Thinking about moving to Lake Wylie? Lake Norman? Or Charlotte? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations and 2nd homes–and will represent only you.
Related Links
Charlotte Home Search -By Area
Charlotte Real Estate- Good Years Ahead
A Waterfront Beauty at Reflection Pointe
Moving To Charlotte? Like a Good Introduction to the Area?
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Handsmill- A Lake Wylie Lake Front Community
July 30th, 2008 Categories: Lake Wylie NC and SC
Handsmill at Lake Wylie- A Waterfront Community All Can Enjoy
Charlotte NCÂ First came the Sanctuary, then the Palisades, then Reflection Point, and now Lake Wylie’s newest waterfront community is HandsMill in Clover SC- thats right, low tax South Carolina and the well regarded Clover School district, living on the water or in a truly waterfront community, just 26 miles on relatively uncrowded roads to Uptown Charlotte, 10 minutes to Rock Hill SC.
I think what I like most about Hands Mill is the ease of access to the water for the entire community–
There are waterfront lots, but naturally many more interior lots. Of course there is a marina, with slips available, but there is also boat and RV storage inside the community, for the more occasional boater. But that is not all, from the Aqua Club- the terrific amenity center (which they have just broken ground on) , residents will enjoy a waterside pool, plus a lakeside beach area, making this a perfect out-ting for the whole family, young and old, those who want to be on the lake in a boat, or cool off in the lake, or for those who prefer staying poolside. It is all there at Hands Mill on Lake Wylie.
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Charlotte Real Estate| Updates-Monday July 28 2008
July 28th, 2008 Categories: Buy A Charlotte Home
Charlotte home sales totaled 453 homes, averaging 108/sf for the week ending July 27, 2008.
This is down from 524 homes sold (17% off) and 8% off in price per sf sold.
For the 30 day period ending June 27, we see figures in line with the last few months with sales off 31% and prices off 4%.
Close in communities of Myers Park, Dilworth and Eastover saw significant declines in sales volumes- 69 sold in 2007 and 36 homes closed in the past 30 days, prices were flat with neither appreciation or depreciation, based on cost per sf sold. These homes sold at an average of $264/sf.
Further south, from Southpark to Matthews to Ballantyne, these communities fared better with 68 sales versus 107 in 2007, and prices off 3.5%
All in all, no breaking news, we’ll wait on the next Case-Shiller which will be out tomorrow.
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Beaches Near Charlotte, NC- Love Where You Live
July 26th, 2008 Categories: Things To Do Charlotte
A great feature about our region is its close proximity to the mountains and the beach.
I was very fortunate to visit the beach every childhood summer. I loved the vacation, but not the eight hour drive from Pittsburgh to Virginia Beach.
So imagine how excited I was last week when my family left Mooresville at 9 a.m., and were enjoying the beach by 2:30 that afternoon.  Some beaches are even closer, Charleston for one!
 For our first North Carolina Beach excursion, we picked Carolina Beach, located on the Cape Fear Coast near the historic city of Wilmington. Drive time from Charlotte is about four hours. If possible, leave on a weekday or get an early Saturday start.  Many minivans with out-of-state license plates clogged the highway heading toward the beach when we returned on Saturday afternoon.
The North Carolina beaches are low-key. Since I’m used to the bustling boardwalk of Virginia Beach, my husband was worried I wouldn’t like the tranquility of sand dunes. But I did. Since this is the first North Carolina beach I’ve visited, I can’t say how it compares to others (more or less crowded). We certainly weren’t bored, but didn’t feel overwhelmed either. We stayed at the Courtyard by Marriott hotel which was actually the only ”big name” hotel on the beach. The other properties were houses and local motels.
Like all parents of young kids at the beach, we built sandcastles, collected sea shells, and took pictures. Breakfast and lunch were enjoyed in our room; but we ventured out for dinner, treating ourselves to ice cream and family walks on the beach. There’s a bike path on the road that parallels the beach, so we enjoyed two morning rides topped off with donuts from Brit’s Donut Shop. Opened in 1939, you can tell this is a favorite among locals and repeat vacationers.
One morning we took a field trip to the USS North Carolina Battleship Memorial in Wilmington. For WWII buffs like my husband, history enthusiasts like myself, and battleship lovers like my son, it was a great excursion.  Even if you don’t fall into any of these categories, the awesomeness of the ship makes it a must see.
(ed: Kelli, Did you see the alligator in the lagoon? tm)
A thunderstorm cancelled beach plans on Friday afternoon, so it was great having downtown Wilmington as an option. The city has a cool children’s museum (free admission thanks to my Discovery Place membership!), so we played there and had dinner at a nice restaurant along the Cape Fear River.
I’m sure we’ll venture to Carolina Beach again; but, with so many beaches close by (Kure Beach, Oak Island, and Wrightsville beaches just in the Cape Fear region alone), we’ll likely explore. It’s nice to be able to do so knowing you can reach your destination by lunchtime!
   I think you should love where you live because of what it has to offer, not how close it is to other places. As Terry and I   have hopefully shown, Charlotte has great amenities right in its own backyard. But I do love being close to the beach- and the warm North Carolina waters.
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Editors note: I’m publishing this as I vacation on the Cape Fear Coast on Bald Head Island, just a few miles south of Carolina Beach and Wilmington. More on that next weekend. TM
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Charlotte, or Lake Wylie? Lake Norman? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations–and will represent only you.
Related Links
Charlotte Home Search -By Area
Charlotte Real Estate- Good Years Ahead
Slowing or Downturn- the Truth about Charlotte Real Estate
Moving To Charlotte? Like a Good Introduction to the Area?
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North Carolina| North Carolina Global Transpark
July 25th, 2008 Categories: Charlotte News and Politics
Kinston North Carolina- Global Transpark Lands First Major Tenant
Normally our posts here deal directly with life in Charlotte, NC or with Charlotte real estate news. Every once and a while however, an event of significance for the state of North Carolina may find its way to the front page. The opening of the North Carolina Global Transpark is one such event and is destined to bring jobs to all parts of North Carolina.
What is the Global Transpark? It is a large (over 2400 acre) public/private partnership that has built a commercial development center outside of Kinston, NC with a focus on the aeronautical industry. The Transpark boasts the largest private jet runway in the state at 11,500 ft and a and a 33,000 sq ft conference room/training center. The Transpark is part of a concerted effort on the part of the state to bring well paying jobs to the eastern North Carolina economy. Legislators have seen the economic success of the Charlotte and Research Triangle Areas and are now turning their eyes east to a part of the state that was, until recently, dominated by tobacco growers.
Governor Mike Easl
ey announced in May that Spirit AeroSystems Inc., the world’s largest independent supplier of commercial airplane assemblies and components, will open a manufacturing plant at the Global Transpark. This represents an investment of approximately $571 million dollars and will add over one thousand jobs to the area. The tenants of the Global Transpark are mostly aeronautical or logistics firms who need access to a runway and large warehouses or hanger space. The Transpark is also located near two deep-water ports, several good highway and the state capital, Raleigh. All these factors have led to high demand for site space by logistics firms.
The Global Transpark has the opportunity to shift the area’s economic focus, increase well-paying jobs in the area, and re-invigorate one of poorest parts of the state of North Carolina. Creating better paying jobs was the goal and the addition of Spirit AeroSystems at the Transpark is a step in the right direction. As for Charlotte and the rest of the state, we expect ancillary investments from the Transpark as companies move to the area to provide “just in time” products and services to this new industry group.
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Charlotte, or Lake Wylie? Lake Norman? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations–and will represent only you.
Related Links
Charlotte Home Search -By Area
Charlotte Real Estate a Good Years Ahead
Slowing or Downturn- the Truth about Charlotte Real Estate
Moving To Charlotte? Like a Good Introduction to the Area?
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Charlotte Real Estate| Union County: Steal A Home in Anniston Grove
July 22nd, 2008 Categories: Buy A Charlotte Home
Anniston, Beautiful Homesites, Custom Home, 3800 sf Listed for Under 500K
Union County is the fastest growing county in North Carolina, but still has that rural feel. Despite some signs of growing up- the Target at Wesley Chapel for one, Weddington and its neighbors Indian Trail, Wesley Chapel, and Waxhaw, are growing up and growing together. A staple has been the all brick custom new home community, and Anniston Grove, off of Waxhaw-Indian Trail Road is just such a neighborhood. Relatively larger lots- 1/3 acre and up, heavily wooded lots that provide privacy and a degree of separation not found on the “farm” lots (former farmer fields)favored by track builders, and all brick custom homes by many of Charlotte ’s better builders, create a community just too pretty to fail.
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Charlotte, NC| Top 10 Employers in Charlotte
July 21st, 2008 Categories: Charlotte Business
The Top 10 Employers in the Charlotte Area
Charlotte, long known for its banking, is now a very diversified economy and employment base. Charlotte is beginning to add to its repertoire with several health care companies, technology, and energy companies moving major offices to Charlotte. The largest city between Washington D.C. and Atlanta, Charlotte boasts a highly educated work force and a strong business economy. The 10 companies below are the largest employers in the Charlotte area. The data is over a year old, collected in January of 2007, and jobs have been growing in Charlotte not being reduced over the past year (source: Charlotte Chamber of Commerce).
1. Carolina Healthcare System (26,283 employees)
2. Wachovia Corp (20,000 employees)
3. Bank of America (13,960 employees)
4. Wal-Mart Stores Inc. (12,918 employees)
5. Food Lion (8,658 employees)
6. Duke Energy (7,500 employees)
7. Charlotte-Mecklenburg Schools (7,500 employees)
8. City of Charlotte (5,896 employees)
9. Adecco (5,000 employees)
10. US Airways (4,981 employees)
The interactive map below shows the locations of the 10 largest employers in the Charlotte area. Please click on the icons for more information about each company.
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Matthews, Charlotte, or Weddington? Lake Norman? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations–and will represent only you. You can also search the entire MLS, by area with the first link below.
Related Links
Home Appreciation in Charlotte
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