Buy a Home in Charlotte,
Thinking about moving to Charlotte? Lake Wylie, Lake Norman, South Charlotte, Union County- “greater” 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? If you’ve never visited Charlotte, try my video on the right hand column, it is fact-filled and is the fastest introduction to the Charlotte area.
Just want to See the Homes? Visit Charlotte Home Search -By Area
Please don’t hesitate to call me direct with your Charlotte real estate needs and questions, 704-351-1519
Luxury Townhouse Sales Report from South Charlotte|Novemeber 2008
November 20th, 2008 categories: Buy A Charlotte Home, luxury homes in charlotte
What is a luxury townhome? 90% of the townhouse market is for first time home buyers- the luxury buyer typically is not.
Who are the buyers? Professional couples, (who might have earlier had city condos)down-sizing empty-nesters and singles predominate. What distinguishes it from the others? Fit, finish, quality of the options and landscape– sort of “I’ll know it when I see it” quality. The best of these (IMHO) come with great views, Burning Tree has Carmel Country Club Golf Course, Greenview Terrace sits on Raintree’s fairways, others like Mayfair and Provence on Providence are there own little enclaves- in every case there are some distinguishing community features, and they cater to folks who want to live in that area, or love the style, without the maintenance headaches of a single family home. All come with top of the line interiors- and easy living full exterior maintenance included.
Like most categories, it is a strong buyers market. The price points are some what arbitrary, but the luxury townhome niche begins in price at about $350,000, and goes up from there. The sold data gives you an idea of the range of cost per sf sold, based on the maximum and minimum home sales prices in the group. We compute absolute min/max for clients.
| Homes | Homes Sold | Median | Low | HighPreview » | |
| Price range | For Sale | Last 12 mo | $/sf | $/sf | $/sf |
| Homes for sale between $350K-400K | 20 | 14 | 160 | 115 | 255 |
| Homes for Sale between $400K-450K | 19 | 24 | 172 | 128 | 212 |
| Homes for Sale between $450-550K | 23 | 21 | 176 | 140 | 248 |
| Homes for Sale over $550k | 20 | 21 | 222 | 213 | 264 |
In most cases there is a year of inventory, high by Charlotte standards. My hunch is this reflects a lot of single family
sellers (down-sizing empty nesters) who are holding on to their homes until a better sales environment returns for their homes.
The pictures in this post are from my listing in Greenview Terrace, a master bedroom view of the Raintree fairway is on the right, and its a few minute walk to the Arboretum and the Express Bus uptown.
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes, re-sales, townhomes and luxury townhomes.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices and brokers. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don’t miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Best New Home Value Under $500K in Greater Charlotte
Charlotte Real Estate- More Good Years Ahead
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Home Buyers and Sellers in Charlotte NC
November 15th, 2008 categories: Buy A Charlotte Home, First Time Buyers
2008 Profile of Home Buyers and Sellers Gives Us (Brokers) More Insights About You (Clients)
It’s no secret that the primary readers of Charlotte Communities are home buyers, most are families and singles considering relocating to Charlotte, the occasional home seller, and others in Charlotte considering buying or selling a home. The latest national Association of Realtors Home Buyer and Seller Profile is a marketing study conducted between July 2007 and June 2008; with over 10,000 returned questionnaires it is the most comprehensive buyer / seller survey available and provides valuable insight to the Brokers about their customers.
Here are a few nuggets about first time home buyers:
- First time home buyers % of overall purchases increase 5%- notable because a) we’ll need them to restart demand through out the market and b) they are the “echo-boomers” children of baby boomers like me.
- The median price of the first time home buyer home as $165,000
- First timehome buyers chose a fixed rate mortgage 92% of the time
- First time home owners expect to be in the home 10 years (up from 7last year) this is wise
- The median down payment was 4%, reflecting the availabitlity of no money down loans in addition to traditional FHA/VA low money or no money down programs (most no money down programs have been discontinued unless you are a veteran)
- The median age of first time home buyers is 30- but for women its a bit younger than men- the smarter sex.
- Down payment money came from a variet of sources: 69% used savings, 26% received a gift(parents typically), 7% a loan from a relative or friend and 16% tapped into 401 Ks.
So, what does this all mean to us? It s the “market” adjusting to new realities- the growing number of “echo boomers” who are ready, willing and able to step to the plate in search of equity and value, and their ability to do so since they do not, by definition, have a property to sell. And as they see the market around them, they have adjusted their sights and plan to stay longer in that home (10 years) than before. This longer view should result in better housing decisions.
Of course it is great to be needed (if not loved:)) and more than 80% of all respondents used and Agent in their transaction. The number for Buyers was 81%- 81% used an Agent to represent them in the purchase of their home, clearly the more educated of the group. (ha, my own conclusion) but really, what reason is there to Not use a Buyer s Agent? Private transactions between friends-family, sure. where else? Because a Builder has an nice Agent? Uh no- they represent the builder!
For more on this please visit my now famous post on “Why You Always Need A Buyer Agent!” And 10 Essentials To Buying A New Home.
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It is a strong buyers market here in the greater Charlotte area, Lake Wylie, Lake Norman, the whole area for new homes and re-sales.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in luxury relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices and brokers. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 9000 You Tube views, 22 reviews) and don’t miss the FAQ videos (Where to look for luxury homes in Charlotte?) in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Where to Look for Luxury Homes in Charlotte- Video
Hows the Charlotte Market- Video
Charlotte Real Estate- More Good Years Ahead
| Discussion: No Comments »
Large Home- New-Near Charlotte at $339,000 or $89 per sf COMPLETE
November 14th, 2008 categories: Buy A Charlotte Home, South Carolina
Do you need a large home, six bedrooms perhaps? How about 6 bedrooms under $350K? A great deal, in nearby popular Fort Mill…
Massey is an amenity rich planned community, a new home project by Ryland 10 miles south of Ballantyne, and they are having a killer sale on their models.
The popular Marlette- 5 br and 2 bonus rooms, at $89/sft. Yes, fully equipped, with options at 89/sf, well below replacement cost. One client I had looked at and loved this home, because she really wanted 6 br (including a guest room) and she was going to use one of the bonus rooms as an extra 6th bedroom.
Well regarded Fort Mill Schools, 15 minutes to Ballantyne, 10 minutes to Ft Mill, and a 5000 sf clubhouse awaits.
All first floor hardwoods, window treatments, and stainless appliance, granite- $89/sf Complete. you read that right, this is the best new home deal in Charlotte today. Why is that $89/sf price so important? Because it is BELOW the replacement cost, and that means the price can not fall further- it is a price floor.
The taxes? Low South Carolina taxes too. I’ll share the figures below the inventory table below. Three great homes, three great deals.
| FLOORPLAN | PRICE | Sq Ft | # Stories | BR | Bath | #Bonus Rooms | Cost per SF | |||
| Bloomfield C | $299,422 | 2911 | 2 | 4 | 3.5 | 1 | 102.86 | |||
| Marlette C | $339,491 | 3774 | 3 | 5 | 4 | 2 | 89.96 | |||
| Sterling A | $389,749 | 3788 | 2 | 5 | 3.5 | 1 | 102.89 |
Taxes? Here’s how to figure them*: Sales Price of Home x 4% x .1912, so on the Marlette, if we paid retail (we Never pay retail-but most of the discounts have been taken) at retail it is $339,491 x .04 x.1912, or $2,596 per year. A bit over 200/month, HOA are under $600 per year.
*Thanks to the excellent Ryland on site Rep.
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It is a strong buyers market here in the Huntersville - Lake Norman area, the greater Charlotte area, for new homes and re-sales.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices and brokers. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below.
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Hows the Charlotte Market- Video
Charlotte Real Estate- More Good Years Ahead
Where to Look for Luxury Homes in Charlotte- Video
| Discussion: No Comments »
Birkdale in Huntersville NC- A Bluechip in the North
November 11th, 2008 categories: Buy A Charlotte Home, Huntersville
“How good is the real estate market in Birkdale?” or asked another way, “Am I safe investing in Birkdale?”
This is the question a client asked me last week. Birkdale has been a consistently strong real estate performer over the years, and it isn’t a surprise since Birkdale is the centerpiece of modern Huntersville, a city named to Money Magazines “Best Places to Live in America” twice this decade.
My client’s offer was accepted on the Birkdale home last week, and while I told her Birkdale was one of the strongest subdivisions in Huntersville, I came back thinking I should do the numbers…
Here is the answer to her question in objective numbers.
I compared the home sales for the last 90 days- 8/1-10/31/08 to the same period over the last 4 years, and Birkdale’s price/value strength shows through. There aren’t as many people moving to Huntersville as there were a few years ago (residents say thank you!) but the home prices? Have a look for yourself.
| Sold | |||||
| Year | Homes Sold | Median price | Median SF | Cost Per SF | % +/- |
| 2008 | 9 | 369522 | 2847 | $129 | Up 3% |
| 2007 | 12 | 330770 | 2643 | $125 | up |
| 2006 | 19 | 333231 | 2679 | $124 | Up 5% |
| 2005 | 36 | 340002 | 2882 | $118 | |
| all numbers | from the mls | (not created by | CMLS) | ||
So while home sales have slowed dramatically in the last 4 years, the median price has increased 8.7% and the actual Cost per Square foot of the sold properties has risen 9.3%. Is this a guarantee of price rise in the future? No. Is it a testament to the real value in this crazy rel estate market we are living through? Absolutely.
Huntersville has done well for the same reasons Charlotte has done well. It is “objectively affordable”, (Radar Logic and PMI) we create jobs and employment here (in this down year about 2% increase projected) and people still want to move here, just for the quality of life.
As for my client from last week? We got her a smaller home in very good condition, with a few appliances, at about $112/sf, or 13% under the last 90 days market prices, not too bad at all.
more pictures of Birkdale and Huntersville
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It is a strong buyers market here in the Huntersville - Lake Norman area, the greater Charlotte area, for new homes and re-sales.
Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We know the neighborhoods, prices and brokers. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below.
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Related Links
Charlotte Home Search- Map & Community Based
Hows the Charlotte Market- Video
Charlotte Real Estate- More Good Years Ahead
Where to Look for Luxury Homes in Charlotte- Video
| Discussion: No Comments »
