Archive for May, 2009
Union County NC, Homes Sold Report, March, 2009
May 29th, 2009 Categories: Buy A Charlotte Home
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Case-Shiller just announced their March results this week showing a slight uptick in Charlotte home prices, leading the 20 city index; I thought I’d compare that with close-in Union County homes sold in March. There are some interesting trends. This date is from the Carolina MLS, areas 10/1,2 and3.
March Homes Sold in Union County: Surprising strength in prices.
Cost per square foot are the Average Sold price divided by the average price, so an average CPSF is what I use to compare month to month and year to year.
There were 61 homes sold for under $300,000, the average Cost per square foot was $81/sf, down from $85/sf in February. However, the 61 homes sold, was a 22% increase over 2008. So prices fell, sales went up.
There were 17 homes sold for under $500,000, but more than $300K, and prices rose from February 3%. Sales were 40% of last year’s pace.
There were 15 homes sold for over $500,000, 37% off March, 2008, but prices were up 17%.
Also interesting, homes in the “first home price range” below $300,000 account for more than 2/3 of the sales. 84% were with conforming money- loans probably below $417K.
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Skilled Buyer Agents and Smart Buyers Make Great Deals Happen, The McDonald Team, 704-351-1519
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Charlotte Things To Do This Weekend
May 29th, 2009 Categories: About Charlotte
For Family Fun try…
2009 Shakespeare Festival – Twelfth Night
There are some experiences in Charlotte that really drive home what a vibrant, special place it is. The Shakespeare Festival is one. Take some friends and your lawn chairs uptown to the Park on The Green, a small downtown park. The stage was part of the park. Shakespearean characters seemed to just wander in from the street. At one point a man wandered in and sat on a bench, not realizing that the bench was part of the play. When he finally looked up and, to his horror, saw a whole audience looking at him, it was a classic moment.
If you’re worried that your kids won’t get the play, you might be surprised. The actors are so skilled that they convey the meaning of the words, even if you don’t understand every single thing they say. 10 and 13 year olds laughed at the jokes. You are allowed to bring well-behaved dogs.
This year the outdoor Shakespeare play is Twelfth Night. As always, it’s absolutely free. Donations are welcome.
You have plenty of performances to choose from:
Thursday May 28, 8:00 pm
Friday, May 29, 8:00 pm
Saturday, May 30, 8:00 pm
Sunday, May 31, 6:30 pm
and more next weekend…
If its free, we find it at Charlotteonthecheap.com.
Free concerts
In Huntersville, Friday, it’s Birkdale Village, 7-9 pm
At Blakeney, Friday, it’s 7-10, at the corner of Rea Rd and Ardrey Kell
Matthews, Saturday night, Stumptown Park, 7Pm to? Motown, Oldies and more… bring a lawn chair and snack, no pets please.
Connect with all thing in Charlotte Culture through the Charlotte Cultural Guide.
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Skilled Buyer Agents and Smart Buyers Make Great Deals Happen! Â Call the McDonald Team 704-351-1519
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Charlotte, NC|Economic Indicators Up, Interest Rates Moving… Up
May 28th, 2009 Categories: Buy A Charlotte Home
Generally good, or “less bad” news on the economy.
Consumer Confidence is up… from historic lows.
1st Quarter GDP, not as bad as expected.
Durable Goods orders are up, over the forecaset
Initial Jobless claims fall, the pace of job loss is declining…
But…
Mortgage Bond Yields- the bonds Fannie andFreddie use for financing, the interest rate rose for the 4th straight day, indicating higher consumer mortgage interest rates are around the corner.
Interest rates move in inverse proportion to the economy.. so as the economy improves, we can expect interest rates to rise… so a Buyer should make their best deal ASAP, and lock in at very low 30 year rates.
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Skilled Buyer Agents and Smart Buyers Make Great Deals Happen. We are skilled. Please call 704-351-1519 for immediate help, or Search for Homes here.
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Waxhaw’s Providence Downs, Area 10/1 Market Report, March Prices Up
May 27th, 2009 Categories: Buy A Charlotte Home, Union County
Charlotte, NC. Last week I wrote that I thought Providence Downs and Providence Downs South were on the move. This morning, I checked the May activity so far, and found there were 9 new PD or PDS houses that went Conditional or Pending in May, 5 in PDS and 4 in PD. Yes- the skeptics will say there are still plenty of homes available, and that is true, but which homes do you think would sell first, the best ones or the trashy ones? The best deals are Selling now. 
Area 10/1, the western side of Union County that includes Providence Downs and PDS,
has had its best month in quite some time with 43 Pending or Conditional Sales. 23 of these home sales are under $400,000, 13 are for homes priced above $600,000, and 4 for homes priced above $1M- a good spectrum.
The popular under $400,000 includes the popular Hunter Oaks, The Reserve, Quellin and the new Millbridge. The over $400K category includes PD and PDS, Kingsmeade, Longview, Highgate, Woodall and a few others.
Prices have fallen, and buyers are making their best deals. Yes, inventories are high, but once you add all the things you like, the universe shrinks quickly. I had one this week buy in Providence Downs- Not included in the numbers above. Next week, I’ll detail the numbers on this deal, once fully ratified and on its way.
Yesterday’s Case-Shiller Index revealed Charlotte home prices were up .3% in March over February
reports The Charlotte Observer this morning, the only city in the 20 city index with an increase. Very modest, but nie to be in positive territory. Last city in, first city out.
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TerryMcDonaldRealEstate- Skilled Buyer Agents Meeting Smart Buyers… Where Great Deals Happen! 704-351-1519
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Charlotte Weekend RoundUp- It is All About Speed!!!
May 22nd, 2009 Categories: About Charlotte, Charlotte Homes for Sale
Charlotte, NC. What’s your speed this weekend?
Are you in the mood for speed? The culmination of Race Week brings the Coca-Cola 600 to Lowe’s Motor Speedway. When the race isn’t going on you can still get into the racing spirit at Food Lion Speed Street in uptown Charlotte. Featuring live music, kids’ activities, and plenty of freebies, it’s an event all on its own. A new event, SpeedCentre, brings Race Week to Uptown’s newest entertainment spot, EpiCentre.
Want to enjoy a slightly slower pace? On Saturday, check out the Mint Hill Highland Games. There’s still a spirit of competition, but it’s between sheepdogs. Enjoy Celtic music craft items, and even learn the history of your family name.
Still not slow-paced enough? Get away from it all with a free forest walk, lead by a naturalist, in McDowell Nature Preserve, at 1:30PM Saturday.
Charlotte Real Estate?
A busy weekend with 3 buyers in town, 2 physicians moving to Charlotte to 1) improve their practices and 2) improve their lifestyles. Lower insurance rates, fewer HMO’s and the Carolinas lower taxes are appealing!
Seeing Waterfront at Lake Norman at 2003 -2004 prices!
Great home, convenient to I 77 in Mooresville, good water front, 4000 sf +, 4 bedroom, 3.5 bath home, granite, trex deck and 12000 lb boatlift! $549,900Â Lets go buy this one this weekend!
Like a genuine $1.3M home for under 800K in Union County??? I think we ould do it, visit here.
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Skilled Buyer Agent and Smart Customers Make Great Deals Happen 704-351-1519
This week’s event lineup courtesy of CharlotteOnThe Cheap. Thanks Jody
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Movement Out at Providence Downs South
May 21st, 2009 Categories: Buy A Charlotte Home
Providence Downs South- Is it Turning?
Providence Downs South, a custom home community cut out of a horse farm on gently rolling hills in Waxhaw, is located at the corner of New Town and Waxhaw-Marvin Road, and has had its share of problems over the last 2 years. Bad timing, some bad plans, and the generally huge inventory of $1M plus homes in Union County, has left many homes here partially complete, quite a handful empty, in pre-foreclosure or foreclosure status. Still, after the dust clears, I think it is too well located and too beautiful to fail, and there is enough occupancy to weather the economic storms… and the bottom may have been reached in the last 60 days.
We know of 6 closings in the last 30-45 days- not all in the MLS, and 4 more Conditional or Pending sales appearing inthe MLS today, from 799,000 to 1.2M. So, is it turning? Or just wishful thinking on my part? Have a look at the pics below to get an idea of what I’m talking about… to beautiful to fail.
OF course, you’ll never know the “bottom” until 60-90 days later, and then of course it will have passed you by.
So, searching for a deal? A $1M+ home for 55% of its sales price, possibly the best deal in Providence Downs South this year? Have a look here.
Skilled Buyer Agents and Smart Buyers Make GREAT Deals Happen Call me direct- I am easy to reach, at 704-351-1519
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Charlotte Updates: Real Estate, Race Weekend and More
May 20th, 2009 Categories: About Charlotte
$8000 Tax Credits to Be Used In Down Payments?
Yes, says HUD Secretary Donovan, at a Realtor meeting in Washington last week.  FHA borrowers will “soon be able to use the tax credit through a bridge loan” for their down payment. Regulations are “following soon.” At this point it DOES NOT exist, but should shortly. This would effectively return the FHA to “no money down” lending. As awful as this could be, I think it is the right move, with the tougher credit standards in force today. Stay tuned.
Smoking Banned in all Restaurants and Bars In North Carolina
After repeated legislative attempts over the last 5 years, Governor Bev Perdue signed into law the banning of all tobacco products in restaurants and bars effective January 1, 2010. This may seem slow in coming, but NC has been a major, if not THE major grower of tobacco for generations, and their interests carry a lot of weight here. Those interests were finally defeated giving way to the rights of all of us to breathe clean air.
It’s Race Weekend in Charlotte… 
Speed Street, our 5 day Downtown Block party, starts Thursday- Remember, Tryon will be shut down, from the Wachovia Plaza to about 6th or 7th street- most of the city. The sides streets are closed too- I wouldn’t drive there if at all possible. Why not park off South Blvd for free, near a Lynx station, and ride in to the city? $1.35 each way. O ryou could pay $5, $10 or $20 per car for parking.
more later…. Gentleman Start your Engines. Wait, that is from Indy, where there’s another race this weekend…
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Skilled Buyer Agents and Smart Buyers Make Great Deals Happen… call a skilled Buyer Agent for your next move, 704-351-1519- Terry McDonald
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