With very little dispute, earlier this week the Charlotte City Council approved another high-rise tower along South Boulevard. In the Monday meeting, no one spoke up and contested the approval of the tower. So with the backing of the Charlotte-Mecklenburg Zoning Committee, who unanimously backed the $200 million project last month, the 230-foot tower is one step closer to becoming reality.

Needless to say the Harris Development Group seemed very pleased with the outcome of Monday’s meeting. The Developers applied for the rezoning permit with the intentions of building a 230-foot apartment tower, a 200-plus foot office tower and a 180-foot hotel.

For more information on this story or other happenings in South End, contact me today.

With the price of gas in a continuous upward direction, more individuals want to live closer to their work than before. Now combine gas prices and the number of 24-35 year old college graduates who have found their 8am-5pm careers in Uptown and you find South End is the perfect fit for many Charlotte residents.
As read in the Charlotte Observer Wednesday, www.charlotte.com, the number of people expected to live in the South End district is expected to triple over the next two years. Why? Well it’s just outside of Uptown, the light rail runs right through it, and it’s expanding greatly in eclectic condos and local businesses.
Let me know if you, or someone you know, want to know more about the Historic South End District.

Now is the perfect time to put your home on the market. I am sure you have heard that May through September is the ideal time to sell your home. It’s when students are graduating, its summer vacation, people are switching employment, and more individuals are buying homes. Let the numbers speak for themselves. In the Plaza Midwood area of Charlotte there were 26 home sales in the 1^st quarter 2008. The numbers nearly doubled in the 2^nd quarter where there were 42 home sales. See the chart below.

If you want more information on the Plaza-Midwood housing market, or information on other Charlotte housing markets drop me a line.

I have always told clients to buy “unique”.  Real estate is like any product we buy and sell. It follows the principals of Economics.  Supply and Demand both correlate to price.  Unique properties such as older homes or homes in good school districts are in short supply, but the market demands them.  As a result, pricing tends to go up quicker on “unique” properties that the market cannot easily duplicate. This same principal can be applied to the Uptown Charlotte market.  Center city living is in demand, but developers have flooded the market with supply in my opinion.  As a result, Uptown living demand can not keep up with the increasing supply.  Not that Uptown Condos are not a good buy for the future, but understand these principals in your search.  Your broker should understand these principals and have your best interest at heart in helping you make this buying decision.  If you would like to talk in greater detail about this, please send me a comment. 

As an article in the July-August 2008 issue of Old House Journal states, historic homes are holding up better in the current market than new home construction.  Surveys are showing that home improvements are holding up strong.  In addition, other facets of the current economic outlook can cause old houses to get another look. “Historic neighborhoods tend to be more central, and because of fuel prices, people are saying, ‘I can’t be so far out there,’” notes Donovan Rypkema, principal of Place Economics, a Washington, DC firm that promotes historic preservation as means for economic development.

 Acceleration has been seen in recent years toward downtown historic neighborhoods.  Old Home Journal also states that “there’s the idea that homes in historic districts tend to hold and gain value at a greater rate than the rest of the market…as much as 36 percent, according to a 2000 South Carolina study. And it’s not just historic-district status that helps bolster the value of old houses, says Doug Newby, a Dallas real estate agent specializing in historic homes, it’s also the intrinsic worth of the house itself. “Houses built 30 years ago are often being torn down for the lot, while with historic homes, the house itself has gained value as more people learn to appreciate the architecture.”  

The Catalyst condo tower, located on South Church street, started taking offers to purchase this last Sunday June 15. What is the difference between these condos and many others in Uptown? The developer didn’t start taking offers until near completion of the project.
According to the Charlotte Observer, the goal is to help assure buyers their move-in date would actually be the date they can move-in.
This 27 story building will have 462 units ranging in price from the $180,000’s to $330,000’s with amenities including a fitness center, a club room, a pool, an Internet cafe and concierge service.
Occupancy is expected to begin in January 2009. Click here to read the full story. If you want more information on these condos, or any other condos in Uptown, feel free to contact me anytime.

According to http://www.costvsvalue.com/index.html curb appeal is what drives North Carolina’s buyers to buy certain homes over others.
According to the 2007 report, the following $10,000 or under upgrades will get you the most bang for your buck.

• Deck Addition- Cost=$9,266 Resale Value=$7,936 Cost Recouped=85.6%
• Siding Replacement- Cost=$8,990 Resale Value=$7,651 Cost Recouped=85.1%
• Window Replacement Vinyl (cost is slightly more for wood) Cost=$9,391 Resale Value=$7,530 Cost Recouped=80.2%

Refer back to Chris’s blog on April 17^th. Decks are what buyers want. What have you done to draw buyers to your home versus others in the area?

In the feng shui world, intention is everything plus a few simple things to get the positive energy moving in your direction.  Take a look at the Prosperity Section of your home.  It is located in the back left corner of the house.  That area dictates how much prosperity in the way of money, fun, love and just really great experiences you can have.  First, make the space clean and free of clutter.   Next, start placing power tools.   The color purple is the color associated with this area so put in on your walls, line your drawers, and get a purple cloth to dust with to remind yourself you are keeping things clean for abundance! 

If you are looking at building or buying a new home, make sure your Prosperity knows about it.  Put your house plans in this area or what you are looking for in a home to purchase.  Crystals, mirrors, water elements like table fountains or fish tanks, and plants with rounded leaves all increase your chances of great prosperity coming your way!  And if you are looking to sell your home…Questions to ask yourself:  Are you happy about selling your home?  Are you happy about the place you plan to move?  Or do you have so many happy memories in that home that you “don’t want to let go”?  Get real with yourself and you will increase your chance of selling that home by ten fold!  We, as agents, can do all the right things, but your “intentions” can also help!

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.”

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.