Archive for April, 2009
Will Ken Lewis Survive the Day?
April 29th, 2009 Categories: About Charlotte
Will Bank of America Chairman and CEO Ken Lewis survive a stockholder meeting today in Charlotte?
The fight is over the Merrill Lynch deal- many think the stockholders were misled by management about the details of the deal before the stockholders voted to approve the buy out of Merrill. major investors have gone on the record of wanting Ken Lewis- and the 18 Board of Directors, out of office.
It appears though that the FED’s put a gag order on many of the details… very confusing.
Ken Lewis has been goof for BOA, and good for Charlotte for a very long time. I’m not ready to throw him under the bus just yet. This is not CitiGroup, not Madoff, or anything on the same level… we will see what the day brings.
Comments welcome, or if you prefer, the link on Facebook
Follow me on Twitter for updates through out the day. @TerryMcDonaldRE
Watch out for this icon for Quail Hollow Updates on Twitter beginning tomorrow.
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Charlotte NC| Swine Flu Tracker
April 28th, 2009 Categories: About This Blog
Swine Flu Tracker a Google map
Very cool Google map my wife just sent over
View H1N1 Swine Flu in a larger map
Just what we don’t need… thanks Judy!
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Charlotte NC |Uptown Condos and Intown Condos Market Report
April 28th, 2009 Categories: Buy A Charlotte Home, Uptown Charlotte
| Quick Search Charlotte Homes | Charlotte Condos and Townhomes |
| Quick Search Luxury Homes | Luxury Condos and Townhomes |
| Quick Search Fort Mill Homes | Fort Mill Townhouses Condos |
Condos Sold and Condos For Sale in Uptown Charlotte, South End and Dilworth
Uptown Condos Sold
Since March 1st there have been 17 closings, the average cost per sf was $247.sf and the median, at Fifth and Poplar was $261/sold square foot. Trademark and 5th and Poplar led the way with 3 sales each, and the rest were single sales all over Uptown, from Courtside to M Street, The Avenue to North Church. Prices ranged on the low end from $149/sf at Cedar Mill to $374/sf at a Trademark unit- surpassing the Ratcliffe on cost per sf. Two of the top 3 on a cost per square foot basis were at Trademark, their prices above 350/sf far surpssing the Avenue’s only sale at $272/sf
If you add Southend and Dilworth into the mix there were 46 sales in the same time period, love the Lynx, averaging $210/sf with a median of $205.00 per sf. Clearly the lower prices in South end are making buying easier!
Uptown Condos for Sale                                          or       Search for Uptown Condos
Lets just say it is a Buyers Market for Uptown Condos. No really, here are the details:
There are 92 Uptown condos for sale for under $250,000
There are 128 condos for sale for under $400,000, but more than 250K
There are 73 condos for sale for under $1,000,000, but more than $400K
Over 1M, there are 17 condos for sale, the highest are the last 2 of the Encore at $4.5M and $5M, and there are 5 at the Ratcliffe (senior Wachovia people perhap?)
South End and Dilworth Condos for Sale
There are even more here to choose from, I won’t bore you with details, anyone needing specific information just call or write.
So What’s an intown-uptown Condo Buyer to Do?
In my humble opinion, I think the only wise course looks like this: Select 3-5 condos you could be happy with- don’t , please don’t, just fall in love with one, fall “in like” with 4 or 5.
Then, in order of priority, lets search for the bottom prices with offers 25% off Asking. We’ll receive the 3-5 counter offers, look at the best units again, and make our counter offers accordingly. Yes there is a bit more to it than that, but that’s what you’ve hired me for, to save you time, negotiate the best deal, and in most every case save you money. And if you can keep yourself a bit detached, we’ll do just that.
If we are able to walk away from the deal because we are working enough offers that we are confident that one or more will present itself as an excellent and wise choice, then we’ll hit the home run… a great condo at an even better price.
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Skilled Buyer Agents with Smart Buyers make great deals happen! We provide detailed analysis prior to all offers, and take a lot of the guess work out. Plus, we know where the steals and deals are! The McDonald Team 704-351-1519
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First Home Buyer Page on Facebook
Fort Mill Homes Under $250,000
University City Townhomes-1st Quarter Results, Market Report
First Time Buyers- A Charlotte Stimulus worth $9000Â from the McDonald Team-
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Charlotte NC| Week in Review, Real Estate, Golf and More
April 27th, 2009 Categories: About Charlotte, Things To Do Charlotte
Whitewater, Light Rail, Real Estate, Tiger Woods…
Summer like weather returned to the Queen City this weekend, highs reached the low -90’s. The first duckings arrived.
The US National White Water Center
Opened April 1st with some new events and new pricing I think you’ll find attractive. They now have an All Day, All sport pass that includes:Â Family Rafting, Adventure Rafting, Rodeo Rafting, Climbing – Green Routes only, Climb 2 Zip, Mountain Biking, Flatwater Kayaking - Self Guided, Flatwater Kayaking – Guided, Eco Caching, Mega Zipline. Rates: Daily Adults/Children $49/29, the Entire Season, good through December 31, $139/109
Like a ride on their new Mega-Zip Line? Check out this video below
Light Rail Update- Next up in Charlotte’s light rail plan was to extend the existing south corridor line to UNCC, an 11 mile extension connecting the University to Uptown, and simultaneously build the Mooresville corridor, a 25 mile commuter train project which, despite its length is less expensive and more ready to build than the UNCC corridor. Declining revenues are making CATS officials rethink, and prioritize and the fight is on… which line to build first for the extremely popular trains.
Unemployment numbers for the region improved in March- a begining of a trend? Possible, I wish, but probably not yet.
Charlotte Homes and Real Estate
Median home prices in Charlotte are holding up surprisingly well, said Observer columnist Allen Norwood Saturday, reporting on what we’ve been saying for months- it is not all doom in gloom in Charlotte real estate, the better areas still command good (albeit somewhat lower ) median prices, and the best homes are still selling. Even with sales at 40% off, that means 60% do sell, which 60% do you think it is? I’ll answer my own question- those in the best condtion and realistic price.
First Time Home Buyers are the story in Charlotte Home Sales
There is no way to count first time home buyers scientifically and precisely in real time, no database to measure, but folks around here have come to believe that it would be some consistent percentage of those buyers buying homes between $80,000 and $250,000, for our purposes we use the number of 70%, and with that estimate the First Time Home Buyer Market. We use it to measure sales recorded in our MLS for a self-defined “Charlotte Metro area” in the Carolina MLS, defined as all of Mecklenburg, Union, Cabarraus, Iredell and Gaston County, and parts of York, Catawba, Lincoln and the lake areas.
In February, 70% of this market equaled $62,000,000 and in March, $119,000,000 a 92% increase month to month. In March, the total “Charlotte Metro area” Sold Volume was $241,000, 000 so first time home buyers accounted for half of all sales in March. Wait until April numbers are out!
PGA Quail Hollow Open in Charlotte This Week- Tiger’s Coming!
The tournament begins Thursday at Quail Hollow Country Club in South Charlotte, with pro-am events today, pro practice Tuesday, and7:00 am tee times for Thursday, Friday and Saturday. Sunday’s final will begin about 8:00, some tixkets are still available. eather should abe about perfect with high’s in the mid-70’s…
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Skilled Buyer Agents with Smart Buyers make great deals happen!
We provide detailed analysis prior to all offers, and take a lot of the guess work out. Plus, we know where the steals and deals are! The McDonald Team 704-351-1519 Search for Charlotte Homes
First Time Buyer Search for Homes
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Charlotte Weekend Update- 4/24
April 24th, 2009 Categories: About Charlotte, Things To Do Charlotte
Earth Day, Bark in the Park, More Fun in the Sun on the lakes
This is going to be a weekend to be outside in Charlotte, savoring the warm sunshine. You won’t be at a loss as to what to do, because there are festivals and outdoor activities planned to please every member of your family.
Family Activities
107.9 The Link’s Traveling Circus on Promenade at Providence provides plenty of fun for kids, with games, and giant trike races, and much more. Saturday from noon to 3PM.
This one is worth going inside for. Sunday from 2:30PM to 4PM Blumenthal Center’s Educational Institute and Lowe’s Home Improvement Stores team up for Building for Fun, where kids build fun projects like birdhouses and toolkits.
Art Festival Weekend
There are no fewer than three major arts festivals this weekend. Arts fest at CPCC has been going strong all week but will end with a bang – an all-day arts and music extravaganza on the campus of CPCC Saturday.
Those to the north of town should check out Davidson’s Arts on the Green, a juried art show on the beautiful campus, on both Saturday and Sunday. After the art show on Sunday is the first of the weekly Concerts on the Green. Bring a picnic and relax.
The Historic South End puts on Art and Soul of South End, its own popular arts festival. Artists will line the street, creating an art market for pedestrians.
Don’t Forget Fido
One of the most popular festivals this weekend is Bark at the Park, a festival for dogs and their human friends. It got so big that it moved to the Metrolina Expo this year. Whether your dog is a a pro at catching frisbees or just looks great in a costume, there will be activities for him to shine in. Plus plenty of delicious treats.
Post courtesy of CharlotteOnThe Cheap, thanks Jody.
Related Posts (Outdoor Events only)
Matthews Earth Day events Saturday
Walk, Ride Or Stroll on a Greenway
Raptor Center- Perfect Afternoon Trip
White Water, Rock Climbing At White Water Center
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Skilled Buyer Agents and smart buyers make great deals happen! Charlotte First Time Home Buyer? We’ve a special for you! Search For Charlotte Real Estate or just call Terry at 704-351-1519
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Exciting Earth Day Events In Matthews, NC
April 23rd, 2009 Categories: Matthews, Things To Do Charlotte
Matthews, NC – Things to Do
Matthews seems to always have something going on! Some Earth Day fun for the whole family!
Matthews Earth Day Geocaching Adventure
Have you ever gone geocaching? It’s a combination of a nature walk and a treasure hunt. Using a hand held GPS unit you track down caches (containers with a log book and small objects) that other people have hidden in public places. Once you find it, log your find in the log book, take an object from the cache and put one of your own in it. Finding the caches range from easy to extremely challenging.
A great way to start is to go to Matthews Earth Day Geocaching Adventure. You do need your own hand held GPS unit. Get started at Matthews Community Center between 6PM and 8PM Friday, April 24th. Your team will be given a list of coordinates for eight caches that are hidden within the town of Matthews, and a 15 minute tutorial. Then your team has all evening and the following morning to locate the caches. Check in at the Matthews Earth Day Celebration the next day. There will be prizes!
Matthews Earth Day Celebration
This is the big event. Matthews Earth Day Celebration, held at Stumptown Park, Saturday, April 25th, from 10AM to 1PM, features live music, hands-on crafts, and children’s activities. Learn how to get started with composting, or to build your own backyard habitat.
this Matthews Update came from our friends at CharlotteOntheCheap
It is supposed to be a spectacularly beautiful Carolina weekend, low 80’s and clear skies-weather nice enough to move to Charlotte!
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Related Posts
1st Quarter Results South Charlotte Providence Plantation
Skilled Buyer Agents help smart buyers make great deals! 704-351-1519 Terry Mcdonald at Charlotte Real Estate
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Buying Smart the First Time: 5 Essentials for First Time Home Buyers
April 22nd, 2009 Categories: Buy A Charlotte Home, Charlotte First Time Home Buyers
| Quick Search Charlotte Homes | Charlotte Condos and Townhomes |
| Quick Search Luxury Homes | Luxury Condos and Townhomes |
| Quick Search Fort Mill Homes | Fort Mill Townhouses Condos |
Charlotte, NC. The $8000 tax credit makes buying a home for the first time very attractive, but in today’s market, a buyer recently asked, “How do I Buy Smart?” If you think it more than “buying low”, you are right. These 5 keys to successful home buying help to insure your happiness, which will lead you to want to stay, and lower your overall risk enormously.
The opportunity is large- home prices are at 2003 levels, interest rates at all time lows, but…should you buy now? It makes sense if, and only if, you have a good job, a down payment, good credit, and you buy smart.
These 5 Essentials are from a lifetime of buying and selling homes. I’ve made mistakes in almost every category below- you don’t have to!
5 Keys to Home Buying Success in Today’s Market
1. Buy your home for the long term and plan to stay 5 years or longer.
The longer you stay, the lower the risk in your investment. I know it is impossible to predict the future, but think about it… could you be happy there for five years? More possibly? You get tax savings every year, a place of your own, and it just makes sense you have more time to let your home appreciate, and appreciation WILL come back in Charlotte before too long.
2. Buy a home in a community with “Value- Anchor(s)”
What are Value-Anchors? Anything that sets a particular set of homes apart to a large number of potential purchasers. Location is a major value-anchor, in Charlotte Myers Park, Southpark, these names have cache… not coincidentally they are closer to uptown. Waterfront, waterview, golf course homes, these are all homes that have attracted, and will continue to attract a particular set of buyers.
The communities above are higher priced- you are starting out, maybe you can’t afford these, then look for other value anchors, for example: communities with great natural beauty, communities with loads of amenities, communities with great schools, though this can change over 10 years, look for a value anchor in every house or community. Close to town works almost anywhere. Cul de sac’s are usually preferred. Other community anchors might be high quality amenities, larger lots (than the neighbors) , great parks or greenways nearby, unusually convenient neighborhood, no homes behind the house, etc. There are too many to list, but I always ask, what is the value anchor, or value proposition for this home and community?
3. Buy Home Quality over Quantity
Smaller, well cared for home with custom features are more and more preferred to a big plain box, and the dramatic shift in the last year is towards smaller homes. At any price point, look for the home with the most features, with attention to the feature that last. Smaller homes also cost less to run each month, and the savings over 5 years will be considerable.
4. Finance with 30 year fixed.
Current 30 year fixed rates are around 5%, and what a difference that makes. I bought my first home , a townhome, when interest rates were over 11%! I made 45K per year and qualified for an $85,000 home! Today, the same $45K could buy a home, with a 5% down payment, a $175,000 single family with similar $1,000/mo payments to my first 11% loan. (Depending on down payment, taxes , HOA fees etc)
5. Shop for the right community, the right deal, and then the particular house
in that order, to insure you are most likely to be happy with your purchase. The right deal is subjective, but in Charlotte, I think it is a solid 7-10% below today’s market value. This is the market value for your particular home- not just an average cost per square foot. Each neighborhood has a range based on size and condition-compare apples to apples to get today’s market value. You may not get your first choice, but the “buy smart” option says pick several you are interested in, and let the best deal win.
You can make changes to the house to make it more to your liking, but if it is in a great community you want to live in, and you got it at a great price, then you should sleep soundly at night, and that is something you can build on.
Avoid the emotional house buy — you know the one you see it in a brochure, run out to see it and its beautiful…yes it is further out, alot further out, than you thought. No the area isn’t scenic-just flat space… you get the idea.
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Do be sure and claim the $8000 Federal Tax Credit if you purchase by November 30, 2009, it is FREE money. File Form 5805 with your next return, or amended Federal return and the 10% credit, $8,000 if above an $80,000 home, your check will soon be on its way.
Skilled Buyer Agents with Smart Buyers make great deals happen!
We provide detailed analysis prior to all offers, and take a lot of the guess work out. Plus, we know where the steals and deals are! The McDonald Team 704-351-1519 Search for Charlotte Homes
First Time Buyer Search for Homes
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