Charlotte Homes and Real Estate Updates
October 15th, 2009 Categories: About Charlotte, Real Estate News
September- Good New from the MLS
Pending RESIDENTIAL Home Sales were up 4% in September over September 2008, the FIRST year over year gain in two years.
Building Permits were up 24% in September, reflecting a “boomlet” caused the last of the tax credits which expire 12/1/09.
Bad News at Epicenter Condo 210 Trade
The developer, Flaherty and Collins LLC filed a Chapter 7 bankruptcy-liquidation giving up on the project. The liquidation effectively means Buyers with deposits are just another creditor, and lost between $11,000 and on the high side $300,000, totaling over $15M. This is just not right.
When a Realtor takes a deposit for a home- that deposit is placed in a strictly supervised escrow account, so that a Broker can’t use the Deposit as working capital, and so the money will be there at closing, or if needed, there for a refund. Why shouldn’t this be a law?
The builder contract explicitly states that builders can use the deposit for any purpose. This is a basic consumer protection that Raleigh should address as the industry seems incapable of doing it on its own- and now, I’d hate to be the customer who lost tens of thousands of dollars with no recourse, or the future sales person on any new project when a Buyer asks about the risk to their deposit.
This will have a chilling effect on sales for a decade.
Interest in Moving to Charlotte Remains High
The most popular Charlotte video on you Tube, Introduction to Charlotte, passed the 30,000 view mark last week, making it by far the most popular Charlotte video, and one of the most popular “city” videos in the US. See the story at Charlotte Real Estate, or the video at Charlotte NC
In keeping with the one good, one bad economic story here 
the bad news is…
Foreclosures will be a record in 2009 for Mecklenburg County- almost a certainty.
Filings nationally are at an all time high according to Realty Trac, and Meck will fit right in there. I’ll be watching for where they congregate, and the price levels… how hard will the “blue chips” be hit?
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Mixed news to say the least, if you care coming our way you need a skilled Buyer Agent to help you navigate your way here. Please call Direct at 704-351-1519, this phone is answered most of the time. Quick Search Charlotte Homes
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Charlotte Real Estate News 2-27
February 27th, 2009 Categories: Buy A Charlotte Home, Real Estate News
It was a big week in real estate-including the former Wachovia Tower now becoming a part of Duke Energy, and CP Morgan is going out of business. Charlotte Real Estate news is below
First Time Home Owner to Receive $8,000 Tax Credit on Home Purchases By 11/30/2009
If you are a first time home buyer, or have been out of the market 3 years, you’ll qualify for the 10% Tax Credit, up to $8,000, and currently, you’ll see it on next year’s return. As long as you stay in the home 3 years, it never has to be re-paid- That’s right! FREE MONEY! $8,000! When you combine that with Charlotte’s home prices, and the unbelievably low interest rates (currently 4 5/8 30 year fixed) as long as you have the funds, credit, a good job, and you plan to stay a while, why wouldn’t you buy? I’ll do the math for you in another psot, it will blow you away. Details from my prior post
Nationally, details were announced of the $75B Homeowner Stability act,
a plan to keep more than 7 million people in their homes. While it won’t help those who have lost jobs and can’t pay for their homes, it will help 2 other categories of defaults or potential defaults 1) homeowners who are current and their home value has fallen below their mortgage note- typically could not refinance- they will be able to be refinance if held by Fannie, and 2) homeowners whose rates have increased or income have fallen, workouts to get their loan balances and payments down.
Foreclosures rip out the foundation of every housing market. What happens if 3 foreclosures happen in your 300 home community? 297 homeowners will lose between 10 and 15% of their home’s market value. Read the rest of this entry »
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Latest on Housing Stimulus, Charlotte Real Estate Stats, Slumdog- Millionaire, Inaugural Update
January 30th, 2009 Categories: Real Estate News
Charlotte NCSenate Finance Bill Similar to House Housing Stimulus
The House Stimulus Bill passed with a $7500 tax credit on home purchases, and the Senate Finance committee approved a similar measure extending the credits through September 1, 2009. Latest details on the Housing Stimulus Details are here. It could be still improved in the Conference Committee, and my hope is Congress will extend the credits through the December 31 of this year. What can you do? Call or write your Representatives in Congress. Photo frm the inauguration of the 44th President if the US.
Representative Sue Myrick (202) 225-1976
Representative Larry Kissell (202) 225-3715
Senator Kay Hagan (202) 224-6342
Senator Richard Burr (202) 224-3154
The call should be simple-
Congress must act to increase demand for housing
express urgency in stopping the downward spiral of home values- Home Values are just like America’s saving accounts. With them go American spending, America’s confidence, and digs the economy into a deeper hole. House Purchase Tax Credits are the fastest way to increase demand.
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Remember, All Real Estate is Local. You Wouldn’t Watch the National Weather Report to Figure Out What to Wear Outside in Your City
so says the head of the Texas MLS, Read the rest of this entry »
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Charlotte Communities in Charlotte NC Welcomes 2009
January 8th, 2009 Categories: About This Blog, Real Estate News
Charlotte Homes For Sale and Charlotte Real Estate Became Charlotte Communities at the end of 2007.
Charlotte Communities has become THE Charlotte Relocation site of choice-
In 2008, visitors from 129 countries came to Charlotte Communities, and CC was translated into 51 languages.
Charlotte Communities provides, in good times and bad, an objective in depth review of Charlotte Homes for Sale/ Charlotte Homes Sold Real Estate Market Reports, community stats, community reviews, and a variety of intriguing articles about real estate and real estate mortgages… even as the year grew more challenging. Much of our real estate information is not found anywhere else- our Charlotte Homes for Sale Reports are wide and deep and prepared with a local Broker’s insight, our take on regional real estate is our own.
But its not just Charlotte real estate, Things To Do in Charlotte is a favorite and our local and regional reporting help readers keep an eye on the regional and national news that affect Charlotte, NC.
Yes, they come to see Charlotte home prices, but also Arts and Cultural reviews and links, things to do with children, like Imaginon, and things for the more advenuresome, the US National Whitewater Rafting Center which held the US Olympic team trials in April.Five writers contributed at least 5 articles in 2008. All the information is reviewed by us- independent, informed observers of the Charlotte real estate scene, and only me being a buyer Agent- with no dog in the fight on where someone buys a home. Things to Do in Charlotte has reported on everything from the Charlotte Greenway system to the popular Light Rail Lynx, Uptown performances to the India Festival, local concerts and more…
Sustainable growth
Radar Logic of NYC called Charlotte the only “Objectively Affordable” major city on the Case -Shiller report, cited “Sustainable growth” as the reason, a Charlotte cocktail of affordable home prices, a good economy with good jobs, and comfortable living (low taxes and lower on the “fear” quotient)–what they know that the national press often miss.
Charlotte Communities/Terry McDonald’s video Introduction to Charlotte is #1 on You Tube searches for Charlotte NC, together with the Charlotte Communities blog, this has become the #1 place for Charlotte relocation news.
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Charlotte NCÂ Terry’s Introduction to Charlotte, Over 10,000 views You Tube views-#1 for a search Charlotte NC,
About Charlotte NC Charlotte Homes For Sale  Charlotte Luxury Homes For Sale First Time Home Buyers
Charlotte Buyer Agents work only for you. 704-351-1519. Like what you are reading? Sign up for RSS, Real Simple Syndication.  Create your own newspaper, I strongly recommend the Google Reader. You’ll love it!
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Charlotte NC What We Know Now at The End of 2008
December 28th, 2008 Categories: About Charlotte, Real Estate News
The holidays– a time to reflect, a time to think, and a few days off from the daily grind of real estate, research and writing…so
What We Know
Charlotte will remain a top real estate market
because of the sustainability features cited before: a strong local economy combined with high affordability. Our affordability ratios have not changed, our economy has suffered some, but not nearly as bad as the rest of the country, and, forward thinking business leaders are working diligently to keep the recession mild;
Interest rates will be at ALL Time LOWS for the next year
Monetary policy is the easiest for the government to manipulate, and a good way to juice economy (ask Alan Greenspan) as long as it is not overdone.
Charlotte Home prices reflect the strong buyers market
Except for the most popular, or the most undervalued, Charlotte home prices have softened in the 2nd half of 2008, in most areas they are around 2004 pricing.
What we think we can see
The economy will remain in recession for much of 2009
it is what it is- even with a strong intervention, it will take a year before we start adding jobs again. Only a strong effective stimulus will prevent a longer recession/depression
There will be a plan to clean up the bad mortgages, and it will get under way in 2009.
Whats up for housing stimulus is unclear, but it is nearly certain a large part of the remaining $300B TARP money will be used to, in some way, re-write, work-out or modify the huge number of predicted 2009 foreclosures, aimed at keeping families in their homes. Alt- A investors/speculators? Maybe some help, but I wouldn’t count on a lot.
A new President and a new Congress will sign into law a major historic economic stimulus plan in January or February,
One that will put Americans back to work, create a new green economy, hopefully save the auto industry, and begin the effort to stem the cost of health care. Hopefully it will also make buying a home easier and cheaper in an effort to stem the national downward spiral of home prices. This should be good for home buyers and home sellers and us Top Agents in Charlotte!
A review of Charlotte Communities First Year and What’s Up for Us in 2009? Coming Soon.
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Moving to the Charlotte Area? South Charlotte, Waxhaw, Fort Mill Perhaps? Your first Charlotte home?
I am a Charlotte real estate broker specializing in relocations, 2nd homes and first time home buyers–buying and selling real estate of all kinds- and will represent only you. My team works with Buyers and Sellers every day from Ballantyne to Lake Norman -and Fort Mill SC too. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not, and where the deals are. I think as you read my posts you’ll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser. We are working to make your relocation to the Charlotte area easier, less stressful and help you “buy smart.”
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 Homes For Sale- Map & Community Based, over 20,000 properties for sale!
Fort Mill- First Time Home Buyer Report (maps included!)Fort Mill Homes For Sale- Deep Market Report
Charlotte NC Homes Best Value Under 500K
Fix Housing First-a Housing Stimulus plan of the NAHB
Housing Stimulus by The NAR Proposal for the 2009 housing stimulus by the National Association of Realtors
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Happy Holidays From Charlotte NC!
December 24th, 2008 Categories: Real Estate News
Talk to you more on the other side with some end of year thoughts, and hopes for 2009. Merry Christmas everyone. Terry McDonald from Charlotte NC
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Panthers Lose A Close One- Will Coaches Learn?
December 22nd, 2008 Categories: Charlotte News and Politics, Real Estate News
In First Play Off Game of the Season, Players Deliver, Coaches Go Cold in the 2nd Half
Charlotte NC  Along with many of you I watched a good, hard fought December football game, one of the best of the season. Won in overtime by the New York Giants, no team caved, no player just lost it, the officials didn’t decide it, and Giants won it after each offense was stopped once in overtime- a playoff game in all but name.
It was a game the Panthers could have won, arguably should have won as they controlled, no led, the game for 57 minutes out of 60. But momentum shifted much earlier, when with 3 minutes to play in the first half and an 11 point lead, they ran 3 unimaginative plays telling their entire Panther team they were just happy to be here.
The coaching went further south with something like 10 of the first 12 plays runs up the middle for little or no gain. They became one dimensional, and the Giants were determined to stop the run, which they did. Jake threw a few times on 3rd down but he too was ineffective. They never even tried to get outside with their excellent runners.On defense they were no better, with a few exceptions running an unimaginative defense that produced no pressure, allowing Eli Manning enough time in the pocket to make a sandwich, to complete all the important passes including the tying 2 point conversion, with nary a blitzzing linebacker in site.On the tow most important Giant drives, where was the defense?How about a line stunt- something?
How many close late season losses will it take for this staff to understand that if your offense is running on all 8 cylinders, and you have a lead, that it is Not a time to downshift.
The best teams in the league- those playing meaningful games in December and January, those teams stop one dimensional teams routinely.  tm
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About Charlotte NC Charlotte Homes For Sale  Charlotte Luxury Homes For Sale First Time Home Buyers
Charlotte Buyer Agents work only for you. 704-351-1519. 
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