Is Charlotte Recession Proof?

Forbes.com says we are….the site ranked us 9 of 10 cities they feel are ”Recession Proof”.  The list, culled from the country’s 50 largest metropolitan areas, cites the cities for their high job growth, rising home values and low unemployment amid a national economic downturn. 

“Despite a recent rise in unemployment, the economy in Charlotte and the nearby surrounding region of Gastonia and Concord has been strong,” Forbes.com says. “Home prices have shown healthy growth, and broad classes of industries like professional and business services, leisure and hospitality, transportation, education and health are expected to float the local economy this year.”

According to the Charlotte Business Journal, “In compiling its rankings, Forbes.com looked at unemployment and expected industrial growth data through February from the U.S. Bureau of Labor Statistics. It also surveyed home-price data from the National Association of Realtors and gross metropolitan product projections from the U.S. Conference of Mayors.”

Buying your new home…a 7 step process

1. What are your needs? Sit with your Broker and discuss what your wants/needs are. Where do you want to live, what type of home do you want, etc?
2. Get pre-approved for a home loan. This will give you more muscle when negotiating for your home.  
3. Start shopping for your home. Given plenty of detail in step 1, your Broker can lead you to homes that fit your desires.  
4. Found your new home? Now let’s make an offer! Working closely with your real estate, and their knowledge of real estate, you will discuss the relevant factors and put together an offer which your agent will present to the listing agent.  
5. Work out a deal. Though sometimes the seller accepts the offer right away, many times more negotiations take place. In today’s buyers market, this gives you leverage. Don’t worry; your Broker will guide you through the entire process.  
6. Get ready to close. Once an offer has been agreed to, your Broker will guide you through the pre-closing agenda. Such as getting a closing attorney, an inspection, a home warranty, insurance, and more.  
7. Making it yours. After all agreed upon items are completed and the loan is ready to fund, you, your Broker and the sellers will attend a closing at your attorney’s office. Here all appropriate documents are signed, and legal title is transferred to you. Congratulations on your new home!!!Want more specifics? Let me know.

Investing in Real Estate? Give Kannapolis A Look…

Kannapolis is a thriving city of 40,000 located along the I-85 corridor in the Charlotte region of NC, and is less than 30 minutes from I-77, uptown Charlotte, Charlotte-Douglas Intl Airport and the University of NC at Charlotte.  A small town that entered a new era on Sept. 12, 2005, when David Murdock unveiled his plans for the North Research Campus.  The 350-acre massive scientific and economic revitalization project will house state-of-the art laboratory and is expected to become home to over 100 biotechnology companies.  When completed, the North Carolina Research Campus will include more than one million sq. ft. of office and laboratory space, 350,000 sq. ft. of new retail and commercial space, and approximately 700 new residential units.  Got a question about Kannapolis, let me know?

Green Roof Tops?

What do the Federal Reserve Bank and Discovery Place in uptown Charlotte have in common? Green, as in Eco-Friendly, rooftops.

The idea is to have an environmentally favorable roof top, that will not only prevent leaks, but will also last 10 years longer than a standard rooftop. The other major benefit is to utilize rain water, instead of allowing it to be instant runoff. This not only makes for a nice view, but also reduces the amount of pollutants that go directly into our streams and creeks.

Benefiting even more, having a green rooftop absorbs the UV rays that beat down on the rooftop during the hot summer months, keeping the building cooler and reducing the amount electricity needed to cool the building.

Want to know more about Green Roof Tops? Check out the green rooftops website at http://www.greenroofs.org/.

Also, if you are interested in learning about which condos in Uptown will have a rooftop park, send me a comment.

First-Time Homebuyers Take Note?

Some are saying that there is no better time to be a first-time homebuyer than now.  In certain places and ways this is correct.  Increased home inventories, some bargain pricing, and low interest rates are the current environment.  Some roadblocks for first-time homebuyers include more stringent borrowing standards and most of all fear due to all the bad press the current real estate market is getting.  One of the biggest advantages first-time home buyers have is they can buy without having to sell.  Being able to buy in a market with bargain home prices and not having to sell your existing home in those same “buyers market” economic conditions is the biggest advantage.  Not only is it cheaper to buy, but the low interest rates allow you to buy a home you normally would not be able to afford. 

 

Selling your Home? Feng Shui May Can Help…..

Feng shui is an intuitive art. Don’t think of it as local Chinese wisdom…think of it as universal common sense. Proper feng shui is purposefully arranging the stuff around you to gain positive results. What stuff you ask? All stuff…your worldly possessions, the color of your front door, how much light is in your room, and where you put your favorite chair. It’s all about harmony and keeping your environment as clutter free as possible to keep that positive energy flowing in your direction. And buyers loving and feeling great in your home!

When you are looking to buy or sell a home, feng shui principals are well worth checking out. Cracks in your front steps, adding a new welcome mat, using mirrors and lamps in a room make seem insignificant but can put your way ahead of any other house on your street or in your neighborhood.

Relocating to Charlotte?

Are you one of over 80,000 people planning to relocate to Charlotte this year or one of the 80,000 who recently moved here and you’re now looking to find your perfect home? If so, did you know?

 

• The city of Charlotte is 280 miles square, with 25 zip codes.
• There are 5 local historic districts in Charlotte, with many homes built in the 1800’s and early 1900’s.
• There were over 7000 new single-family home construction permits granted in 2007.
• According to the Charlotte Regional Realtor® Association, the average price of Single Family Charlotte homes range, per area, from $112,789 to $1,686,250.

Want more information on Charlotte or a particular area of Charlotte? Are you already here and ready to get settled into this booming housing market? Feel free to drop me a line anytime.  

Divorce and Real Estate

Unfortunately this day and time divorce is a “fact of everyday life”.  With divorce comes many complex issues.  One of them is the family home.  Generally practical considerations determine who gets the home, the terms of any buyout, or whether the house is sold to a 3rd party.  Some things you need to consider if you are facing this are as follows:

1-Immediately gather a group of competent advisors to advise you;

2-From the get-go, check the title and deed of your home so you know whose name or names belong on any listing agreement so a sale is legal;

3-Make sure as a divorcing seller that you know about the tax rules, enacted in 1997, governing the sale of a principal residence. These rules provide much more flexibility for sellers than prior law. Under the new rules, “if the couple’s house has been a primary residence for both of them for two of the last five years, each automatically receives a $250,000 exclusion.  If one of them hasn’t resided in the house for that period, yet the divorce decree specifies that the other be allowed to remain in the house, the nonresident is also allowed the exclusion.

Got a real estate divorce question?  Shoot me a line and I will try to get you an answer.

“Green Living”

April 22nd is Earth Day, a reminder to take care of our Earth, so she can take care of us. What can you do? Here are 5 ways you can start to live green today:
1. Recycle. The city if Charlotte offers free curbside pickup. Visit http://www.charmeck.org/Departments/Solid+Waste/CurbIt/Recycling/Home.htm for locations on where to pick up your red bin and what to put into it.
2. Change out those light bulbs. Energy efficient light bulbs use about 75% less energy than a standard bulb and last about 10 years longer.
3. Did you know it takes about 12 million barrels of oil and 14 million trees to produce the plastic and paper grocery bags Americans use each year? Purchase a 99 cent bag from your local grocery store and use every time you shop.
4. Turn down your heat and air conditioner 5 to 10 degrees at night. You could save up to 10% on your utility bill.
5. Set your water heater to 120 degrees and install low-flow shower heads. You can easily save 30 gallons of water per shower and $100 per year on your utility bill.

The History of Plaza Midwood

Did you know the Plaza-Midwood neighborhood of Charlotte dates back to the early 1920’s? Even in the height of the depression this wonderful neighborhood was full of light and love. Like today, young families joined together and children played freely on the streets and in the creeks of Midwood. Through the years Midwood has taken on various faces and been transformed by the different eras. Being one of the few historic districts in Charlotte; Plaza-Midwood truly is a neighborhood to check out.
Want to read a piece of history from the eyes of one of Plaza-Midwood’s first residents? Check out the article Bull Frog’s & Arched Doorway’s by Charles M. Paty, Jr. on the Plaza-Midwood neighborhood website. You can now also own a piece of Plaza-Midwood History; Charles M. Paty, Jr.’s former resident is for sale. For more information on this charming 1.5 story bungolow at 2013 Midwood Place visit www.MyMidwoodHome.com.