Charlotte Mortgage Rates See Little Fluctuation

February 23rd, 2010

According to the Charlotte Business Journal, mortgage rates in Charlotte are holding steady. Published by Freddie Mac, a 30-year, fixed-rate mortgage averaged 5.01 percent as February arrived, up from 4.98 percent during the last week of January. Both rates are down from an average of 5.25 percent from the same time last year.

Although Charlotte has seen its “third consecutive quarterly increase in single-family home closings,” cited the Charlotte Business Journal, and despite the talk around leveling and even upturning housing markets across the country, the mortgage rate remains relatively the same.

Metrostudy, a generator and provider of real estate statistics for much of North Carolina and some of South Carolina, shows that Charlotte home closings increased by more than 100 units between the third and fourth quarter. Bill Miley, Charlotte’s manager at Metrostudy, underpins progress by stating that new-home markets are still in the shadows of fear surrounding foreclosures, poor job sectors and the credit squeeze; however, several reports show that the housing market is climbing from the wreckage of a poor economy nonetheless. Steady mortgage rates reinforce this positive upturn.

This continues to be your best time to relocate to Charlotte or invest in property throughout any number of its blossoming districts. Until April, homebuyers can still take advantage of buyer assistance credits and programs, home prices are steady and mortgage rates are holding at all time lows. With increased sales and a continually improving lending / borrowing atmosphere, mortgage rates will likely see a rise in the future. But for now, it continues to be one of the most affordable times during recent history to purchase a home in the Charlotte area.

Tags: , ,
Posted in Charlotte Real Estate | No Comments »

Uptown Residents are Getting New Neighbors

February 15th, 2010

Living in Uptown Charlotte offers residents the best of both worlds – the urban convenience of dining, shopping and working within walking distance combined with diverse real estate options fit for the historic home hunter, high-rise dweller and everyone in between. There is new development – Crosland Greens – slated to start settling in next to Uptown Charlotte later this year.

Located 3 miles from Uptown Charlotte, this concentrated urban community will be centered around the Scaleybark transit, is planned to sit on 36 acres of property and will be home to an array of places to work, live, shop, eat and play.

Replacing the existing Scaleybark Branch public library with a 16,500 square foot, remodeled establishment is first on the long list of building projects. Other plans include a 60,000 square foot office building, three stories high, and about 700 apartments, condos, townhouses and single-family dwellings. The tenants in approximately 50 duplexes, built in the 1950s, and 50 additional apartments, will be forced to relocate during later phases of development.

One of the main goals of Crosland Greens is the promotion of sustainability and community. The 36 acres will be closely knit with signage, streets and sidewalks to encourage walking and bike riding as opposed to driving. It will be centered around the transit because the developers and investors are striving to create a clean, cohesive look within the entire Scaleybark Transit District. Grocery stores, restaurants and other retail venues will be geared toward neighborhood growth as opposed to solely profit.

Additionally, Urban Charlotte residents will have easy access to the mixed-use development, which will encourage the merging of business, housing and entertainment markets. Since the approval of the zoning application last June, the plans for Crosland Greens have been under way. It should begin bringing growth and an eco-friendly conscience, among other things, to the Uptown Charlotte and Scaleybark Transit districts later this year.

Tags: ,
Posted in Charlotte Real Estate, uptown charlotte | No Comments »

History vs. Housing Expansion – City Planning Gets Involved

February 8th, 2010

We are all familiar with the “McMansion Theory.” New, multi-thousand square foot homes built on lots the same size as the 1,000 square foot, 1950s bungalow next door. As you drive past them, it appears one is towering over the other, and essentially, this is the case.

In long-standing Charlotte neighborhoods such as Dilworth, Wesley Heights, Belmont and Wilmore, this fight between preserving homes’ history and charm and allowing for housing expansion and development is becoming more prevalent.

Members of the communities being affected by this imbalance are making their voices heard to the Charlotte-Mecklenburg Planning Department. As a result, officials are beginning to explore policies that would work toward historic preservation, zoning, new construction guidelines and other design regulations.

Included in their discussions are the reviews of standing zoning ordinances that would allow for updating the design standards for single-family, residential properties. This could affect home expansion in front and side yards, as well, meaning that homes could not sit too close to existing homes or the street.

Is government involvement in residential development a positive thing? Of course, some people are opposed and others supportive. In 2004, similar concerns about quality of life and zoning were brought to city planning departments. By tightening up design regulations, the intent is to preserve neighborhood character and the life of residents’ property. Yet, a smaller home sitting in between two larger homes may give the owner the option to sell for a much higher price. It is definitely a multi-faceted, multi-sided argument as to whether or not government regulation is appropriate in the neighborhood development sector.

The Charlotte-Mecklenburg Planning Department has a foreseeable, endless debate on their hands. The ultimate goal is to ensure that Charlotte’s historic communities do not decline in value, while at the same time, guaranteeing residents an equal quality of life.

Tags: , , , ,
Posted in Charlotte Real Estate | No Comments »

Population is Growing and Prices are Leveling Out

February 3rd, 2010

Despite national mobilization being down—no doubt due to the lethargic economy of the past few years—there is something about North Carolina that keeps people knocking at its doors. With a 2% population increase last year, it became the nation’s 4th fastest growing state, and it is still standing strong as the 10th largest state in the country. This is great news for Charlotte, the hub on North Carolina’s business and housing sectors.

With an influx of people, Charlotte is seeing more trade and commercial development. The housing market is also set to benefit from the state’s continuing growth.

In November of last year, home prices had fallen 5.5% from November of 2008. The most recent publication from Standard & Poor’s/Case-Shiller Home Price Index cites that Charlotte home prices slumped a meager 0.3% from October to November in 2009. This is an insignificant decline compared to the three months previous and a far cry from the 5.5% drop of the year prior.

Charlotte real estate markets are still sitting on the sides of buyers, however. Home sales are increasing and home prices are gradually catching up, but with first-time homebuyer’s tax credits, mortgage assistance, lending reform, low refinancing rates and other movements geared toward bolstering the housing market, buyers can still find excellent opportunities for purchasing residential real estate at record-setting affordable prices throughout Charlotte.

Currently, the median home price in Charlotte is approximately $155,250 and every day, you can expect to see a selection of around 133 homes listed throughout some of Charlotte’s best neighborhoods. From the old-soul Dilworth suburbs to the chic condos of Plaza Midwood and historic ranch homes of Wesley Heights, there is a niche for everyone in Charlotte. If you are looking to get moving with the rest of the population that finds this booming North Carolina city so appealing, the home prices and real estate market are ripe and waiting.

Tags: , ,
Posted in Charlotte Real Estate, Dilworth, Plaza Midwood | No Comments »

Navigating NoDa – Charlotte’s Creative Center

January 28th, 2010

Whether you meet with the Historic North Charlotte Neighborhood Association on the 1st Tuesday of each month to discuss the preservation of NoDa’s dynamic community, or you simply like to swing by the Cabo Fish Taco for after-work margaritas with friends, Charlotte’s artistic NoDa district offers a place for everyone.

After the collapse of the textile industry in the mid 1970s, this area became practically invisible on the North Carolina’s map. The 1980s brought with it a wealth of young artists and visionaries who worked to restore the community by teaming with local businesses, old mill owners and neighbors. Today, the structural makeup of NoDa is as assorted as its society. It offers an array of galleries, theaters, restaurants and shops support its citizens that stroll from bungalows, hip condos and its burgeoning residential area.

Real estate is prime in this neat Charlotte neighborhood. Whether you’re an artist looking for a studio to rent, couple hoping to score an urban condo with rooftop terrace, or family seeking a quiet, pet-friendly, first-time home, NoDa’s offerings are sure to satisfy your needs.

Special events abound in the NoDa community, working to keep its members connected. On February 5th, the Center of the Earth Gallery will welcome guests to enjoy a selection of painting, collage and sculpture from a collective of artists. The dining scene is not overlooked in NoDa and is as diverse, if not more so, as the art sector.

Casual creole at Boudreaux’s Louisiana Kitchen, endless crepes at the Crepe Cellar Kitchen & Pub, Mediterranean fare at Revolution and a dog-friendly space to enjoy NoDa’s best brews, The Dog Bar, are just a few selections lining the streets.

So no matter what sort of living space you’re looking for, as long as it’s couched in a community that cultivates creativity, diversity and positive energy, there is a piece of real estate waiting for you in Charlotte’s NoDa district.

Tags: , ,
Posted in Charlotte Real Estate, NoDa | No Comments »

Homes vs. Condos for Retirement in Charlotte

January 27th, 2010

Charlotte has been voted one of the best cities to live in on several occasions throughout the past few years based on crime rates, affordable housing and the job market. With a vibrant urban center, bolstered by banks, improving employment rates, entertainment and development, the forecast for Charlotte is growth. It’s an excellent center for college-aged individuals – UNC Charlotte is there – but it also has a plethora of 55+ active adult communities which draw in large populations of retirees annually.

If you decide to relocate to Charlotte around the time of retirement, however, you don’t have to commit to an active adult housing development. There are many advantages, as well as disadvantages, to retiring into a smaller home or condo in the Charlotte area.

Of course, weighing the financial options between a house and a condo is imperative. Looking at the type of lifestyle you want to lead during retirement is also essential. Do you want a lawn to mow? Do you want to be required to take an elevator to your residence? Both condos and homes have their perks and pitfalls.

With a condo, you get the added security of neighbors all around; you do have to share walls with them, however. There may also be luxury amenities such as pools, gyms, scheduled activities and chauffeurs. If you don’t plan to use them, expect to pay for their upkeep anyway. Also, there may be common areas such as parking and laundry facilities that you’ll have to share.

With a house, you’re buying a detached piece of property. There won’t likely be maintenance or HOA fees, doubtful an included gym, but you may have to shovel your own snow and take out your own trash. The square footage, in most cases, will also be greater, meaning more space to maintain and keep clean.

After you’ve considered your budget, have weighed the pros and cons of buying a home against purchasing a condo, and are ready to take the retirement relocation plunge, the most important thing will ultimately be that you’re comfortable, surrounded by a lifestyle you love and enjoying the days of respite that you’ve deserved.

Tags: ,
Posted in Charlotte Real Estate | No Comments »

Join the 2020 Team to Improve Charlotte

January 27th, 2010

If you could hold a picture of Charlotte in the year 2000 alongside a snapshot of Charlotte today, it would be easy to see the development, improvement and progress the city has made in one, short decade. Much of Uptown Charlotte’s growth can be attributed to the Center City Partners, their supportive teams and the implementation of the 2010 Vision Plan.

Adopted in 2000, the 2010 Vision Plan was intended to serve as a foundation of recommendations and implementations from which the community could work as a whole to improve their quality of life and foster urban development. A quick recap of some highlights: the land swap — the ultimate goal being a park in the Third Ward — the retail market assessment, newsstand dispersal on sidewalks, the downtown transportation council development, convention center reformation and the support of over 6,000 housing developments. There were of course may other far-reaching details and initiatives outlined in the 2010 Vision Plan that can be reviewed form the Center City Partners’ Web site.

In 2008, the Center City Partners joined forces with the City of Charlotte and Mecklenburg County, as well as with the County Parks and Recreation Department to put into motion the 2020 Vision Plan.

Residents of Uptown Charlotte, South End and other close-in neighborhoods are encouraged to attend community workshops to provide input on proposals and components of the plan. There will be a steering committee comprised of involved community members. The plan will focus on endeavors to enhance neighborhoods and districts, Center City’s long-term growth opportunities and catalyst projects to make implementing the plan plausible.

So if you live in or around Uptown Charlotte and missed the opportunity to help mold your city into what it is today, join Center City Partners and neighbors on the 2020 Vision Plan and continue the improvements to one of the Southeast’s most vibrant urban hubs.

Tags: , ,
Posted in Charlotte Real Estate | No Comments »

Crime is Down, Spirits are Up and Homes are Affordable

January 27th, 2010

Located just outside Charlotte’s Center City and the I-277 loop, Belmont is one of the city’s most affordable, diverse and up-and-coming neighborhoods. In the past, Belmont’s cost-controlled housing was a strong drawing factor for those looking to relocate. The majority of people who move to the area become long-term residents. While there was, and still is, a sense of neighborliness and strong community ties, at one point crime was an issue.

Today, the crime rate has drastically dropped, and Belmont is experiencing a rebirth much like the neighborhoods of Plaza Midwood and NoDa did in the past. The city has been on a roll building mixed-income housing, restoring quaint bungalows and attracting new residents with historic home features and great views of Center City.

Adopted by City Council in 2003, the Belmont Revitalization Plan has been instrumental in restoring this charming Charlotte community. Another greatly influential improvement was the revitalization of Piedmont Courts. Now called Seigle Point, this 20 million dollar project brought several million dollars of infrastructure grants to the community that went toward housing, streetscapes and planned community getaways.

The Belmont Revitalization Plan’s proponents spent years collecting data form Belmont residents and conducting surveys to guarantee that the community’s growth and development went in the direction the neighborhood desired. There are four parks, public transportation is accessible, youth programs abound and community events are taking place all the time.

Today, the Belmont community is a burgeoning, diverse and energetic district. The home price range is between approximately $55,000 and $250,000, and with the government aid available to home buyers today, much of Belmont’s residential real estate is affordable.

Considered Charlotte’s “first sizeable working class neighborhood,” as cited in the Revitalization Plan, Belmont’s location between the Fourth Ward and Plaza Midwood makes its accessible to services and an easy commute for Uptown Charlotte workers.

So if you’re looking to invest in metro Charlotte real estate within a community that is only going to get better, consider the quaint, historic Belmont District.

Tags: ,
Posted in Belmont, Charlotte Real Estate | No Comments »

The ‘Vue’ is Good in Center City Charlotte

January 27th, 2010

People living in Uptown Charlotte have heard the rumblings of a new neighbor moving in since early 2008. The Vue, a 51 – story, premier, luxury condominium tower is redefining the skyline in Center City Charlotte. The mayor reported to WSOCTV that the recession had indeed taken its toll on the Uptown real estate market, but that the job sector is slowly, steadily inclining. Despite some economic hardship, many developers — the Vue’s developer Dan McLean included — have been able to keep their feet on the ground, workers employed and are making great strides toward completing some revolutionary housing projects in Uptown Charlotte. The Vue residential condo tower in Charlotte NC

Randy Greub, the VP of construction for the Vue, says that the difference between this Charlotte condo tower and others is the details. Overlooking the Fourth Ward, the Vue is encased in stunning glass windows and units will offer residents beautiful wood cabinetry, Italian marble and porcelain tiles, ceilings up to 19 feet tall, special acoustical treatments between floors, stainless steel appliances and truly posh bathrooms.

The Vue’s sales center opened in September 2005, and since then, many Charlotte residents have decided to make the big move to the city. They will be packing their bags this September when the Vue’s units are open and ready for buyers to move in.

Building amenities include luxuries such as a pool and deck, ready – to – use business center, sports courts, health clubs, concierge services, parking and much more. The Vue is striving to truly redefine luxury urban living in Uptown Charlotte.

According to Charlotte city officials and developers, the housing market is definitely on the rise — no doubt prompted by the return of jobs to the city. The Charlotte Center City Partners expect the real estate market to see a 50% growth rate over the next decade, which is great news for the latest residents of the Vue, developers of other downtown living destinations, buyers and sellers alike.

Contact Katie Gray for a personal “hardhat tour” of the Vue!

Tags: , , ,
Posted in Charlotte Real Estate | No Comments »

Dilworth; Notorious Streetcar Suburb Presents History on Call

November 25th, 2009

The Dilworth neighborhood is one area in North Carolina that has an extensive historic background of streetcar transportation with pleasant stories to tell. It is an extremely popular place to buy a unique Charlotte home and make residence because of its history, among many other things. Beautiful tree lined streets, charming bungalows and paved sidewalks make this neighborhood highly sought after because of the family friendly atmosphere.

Dilworth is notorious for being Charlotte’s first streetcar suburb that was established around the 1890’s by a man named Edward Dilworth Latta. The neighborhood is one of Charlotte’s earliest suburbs that utilized the streetcar system for transporting their residents. One company is now helping to communicate stories of the Dilworth history; Charlotte Trolley, Inc. has launched an informative program called ‘History on Call’.

This new effort is a cell phone tour that costs nothing to hear stories of the important people and places that make up Charlotte’s history. The audio dramas are accessible through the internet or by telephone and consist of six topics in the series. Each one tells a specific tale of moments in history that showcase the historic events of Dilworth. It begins with the introduction of the suburb with the electric trolley and tells of the struggles that were endured during the time of the company strikes up until the marvelous homes that were built by an architect named Charles Christian Hook. Many of the stately and historic homes that were created by Hook are still standing and are listed as landmarks.

Dilworth has homes for sale that have been built when the neighborhood first was created. Your new Charlotte home could be located inside one of the most famous neighborhoods in North Carolina. Call Katie Gray at 704-560-9699 or email katie@katiegrayhomes.com to find out more about the historical events and homes of Dilworth, the first streetcar suburb of Charlotte.

Tags: ,
Posted in Charlotte Real Estate, Dilworth | No Comments »

« Older Entries