Charlotte North Carolina Real Estate Blog

Can I get a thank you for CFFA660?

2009-12-20T09:23:00.003-05:00

Recently the Charlotte chapter of the Salvation Army was the victim of a robbery. The Charlotte Observer reported that armed criminals stole $4,000 and 13 kettles. Talk about the Grinch Who Stole Christmas! Well - all is well now thanks to the the men and women of Charlotte Fire Fighters Association who donated $6,000 to cover the lost cash and the cost of the kettles. This epitomizes why I help CFFA660 with their charitable endeavors. Thank you!

Firefighters donate $6,000 to Salvation Army
'Extra push' aimed at replacing theft, what 13 kettles would have collected.
By Mark Price
msprice@charlotteobserver.com
Posted: Thursday, Dec. 17, 2009

The Charlotte Fire Fighters Association is the latest group to show its disgust at last week's theft of 13 Salvation Army red kettles filled with an estimated $4,000 in donations.

Firefighters presented the charity with a $6,000 check Wednesday, intending to cover both the missing money and any donations lost because there are 13 fewer kettles.

"When something like this robbery happens, it really touches a nerve," said John Foster, association president. "You see the Salvation Army out every year, scraping the bottom of the barrel to help those in need. We wanted to give them an extra push."

Other responses to the robbery have included $3,300 from a Charlotte woman who raised the money by soliciting friends for donations online, and $600 collected from revelers at a Christmas party Saturday night.

The gifts come at a time when the Salvation Army is attempting to provide holiday gifts for a record 13,500 children and 2,000 seniors.

Investment Property

2009-05-04T10:26:00.005-04:00

This month realtor.org has several excellent articles on investment property. This article covers cash flow and return on investment. These are both eminently important when selecting a property. I too consider these factor when purchasing an investment property. However my main criteria are; can I afford it if it goes un-rented and could I live in the property if I had to. I have found by adding these factors into the decision making process my investments have been very good in both the short and long term. I have positive cash flow and I have seen excellent appreciation over time. Now is a great time to buy investment property in Charlotte, NC. Interest rates are low, sellers out number buyers and our market is flat which means good prices.

How to Size Up an Investment Property

When you're evaluating a potential property investment, it's important to consider the cash flow and ROI. Here's how.
By Chris Lombardi | May 2009

If you're thinking about buying your first real estate investment, there's good news. There are lots of good deals out there. But even if a deal looks to good to resist, you need to be sure you have a firm understanding of the two significant elements that determine profitability: cash flow and return on investment (ROI). Otherwise, it's very easy to misjudge just how profitable the property will be...

Charlotte Neighborhood Symposium

2009-05-01T10:02:00.004-04:00

As a reminder, the deadline to register for this year’s Neighborhood Symposium is Friday, May 8th. To register, click here or call 704-336-2061.

Theme: From Policy to Practice: Improving Our Homes, Our Communities, Our City
Date: Saturday, May 16, 2009
Time: 7:45am-3:00pm
Location: Charlotte Convention Center at 501 South College Street
Cost: FREE (pre-registration is required)

Highlights:
* Adult and youth workshops
* Exhibits
* Town hall forum
* Community building activities
* 2009 Neighborhood Awards presentation

Join us and learn how you can continue to improve and maintain the quality of life in your neighborhood! To learn more about the Symposium, visit http://neighborhoods.charmeck.org and click on the Neighborhood Symposium link.

If you have already registered, thank you, and we’ll see you on the 16th!

Jean Love
City of Charlotte
Neighborhood & Business Services
600 East Trade Street
Charlotte, NC 28202
(o) 704-336-4161 / (f) 704-336-3959

It Is Alive!

2009-04-11T10:39:00.005-04:00

The Charlotte Business Journal is reporting signs of life in our housing market. Good signs indeed. The average sales price is up and closings are up. Anecdotal experiences form agents indicate we are coming back to life...showings are up and buyers are writing offers. Click here for the complete story.

Charlotte housing data shows monthly gains
Charlotte Business Journal

The number of residential real estate closings in the Charlotte region grew 24 percent in March from February, according to the Charlotte Regional Realtor Association.

The average sales price increased 4.7 percent.

There were 1,671 closings in March, up from 1,348 in February. The average sales price rose to $191,433 from $182,865 in the same period...

First-Time Home Buyer Tax Credit

2009-04-07T09:35:00.002-04:00

Home prices in the Charlotte area are very competitive and sellers are motivated. This year should be one of the best times to buy a home for people new to the market. Buyers are seeing historically low interest rates, a first-time buyers tax credit and my commission rebate. What a great time to buy your first home!

The National Association of Realtors has put together an excellent presentation on the 2009 Tax Credit for first time buyers. Click here for a list of frequently asked questions about the program.

Charlotte Cobras

2009-04-01T08:54:00.000-04:00

Philadelphia vs. Charlotte

Saturday, April 4, 2009

Come check out the Cobras this Saturday as we host Philadelphia in our first game of the 2009 Season. For those of you in the Charlotte area, weather.com says sunny and 70. Tickets are $5 and all proceeds go to charity. This is a great opportunity to get your football fix in the spring and support your local public safety personnel. Thank you.

Hopewell High School, 11530 Beatties Ford Road, Huntersville NC 28078.

1pm Kickoff

The Charlotte Cobras are 501(c)(3) nonprofit organization and a member of the National Public Safety Football League.

The National Public Safety Football League is a union of public safety agency/ football teams from throughout the United States, united to promote a positive self-image to the public by raising funds for charity through spirited competition. The NPSFL teams play full-contact football. They follow NCAA rules. Each team plays a four game league schedule every spring season. The Cobra Football team is comprised of Police Officers, Firefighters, and Sheriff Deputy’s from the Charlotte-Mecklenburg Police Dept, Charlotte Fire Dept, The Mecklenburg County Sheriff Office, Concord Police Dept, Huntersville Police Dept and other public safety personal in the Charlotte Metro area.

Cobras' Mission

"We play for a charitable cause: Cobra Kids. Cobra Kids help kids in high risk environments make sound choices and not fall into a criminal lifestyle. This is our main charity but we are not limited to just this cause. Any worthy children charities would be considered in order to promote the safety and welfare of the kids."

First Time Home Buyers

2009-03-23T08:29:00.004-04:00

What a great time to buy a home in the Charlotte area. Mortgage rates are at historic lows and many sellers now realize they have to price their property correctly. This article in the Charlotte Observer covers the first time home buyers tax credit which was authorized by the economic stimulus package. The law allows for a tax credit which is equal to 10 percent of the purchase price or $8,000 whichever is greater. Add in my commission rebate for government employees and union members and you have the makings of the perfect storm for buying a home.

Buying house for first time? Uncle Sam has a gift
An $8,000 tax credit is sealing the deal on some home sales.

By Nancy Stancill
nstancill@charlotteobserver.com

Calvin Davis got a great deal on his first home a few weeks ago, paying $116,000 for a four-bedroom, 2 1/2-bath foreclosure in Monroe.

But that wasn't all. The 42-year-old handyman went straight to his accountant, filing papers for the new first-time homebuyer's tax credit. Within 10 days, he got $8,000 – using it to put in new carpeting, pay off a debt and boost his savings...

American Recovery and Reinvestment Act of 2009

2009-02-18T19:31:00.001-05:00

The President signed the bill on February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010.

Homebuyer Tax Credit – The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

realtor.org

Charlotte Cobras

2008-12-15T08:57:00.003-05:00

Thanks to all who participated in the Charlotte Cobras raffle. It was a huge success, raising $1,312.00 for the team and its mission. The two Club Level seats went to Officer J. Zinoble who joined 70,000 of her friends in cheering the Panthers on to victory over the Broncos.

The Charlotte Cobras are 501(c)(3) nonprofit organization and a member of the National Public Safety Football League.

The National Public Safety Football League is a union of public safety agency/ football teams from throughout the United States, united to promote a positive self-image to the public by raising funds for charity through spirited competition. The NPSFL teams play full-contact football. They follow NCAA rules. Each team plays a four game league schedule every spring season. The Cobra Football team is comprised of Police Officers, Firefighters, and Sheriff Deputy’s from the Charlotte-Mecklenburg Police Dept, Charlotte Fire Dept, The Mecklenburg County Sheriff Office, Concord Police Dept, Huntersville Police Dept and other public safety personal in the Charlotte Metro area.

Cobras' Mission

"We play for a charitable cause: Cobra Kids. Cobra Kids help kids in high risk environments make sound choices and not fall into a criminal lifestyle. This is our main charity but we are not limited to just this cause. Any worthy children charities would be considered in order to promote the safety and welfare of the kids."

Wine and Cheese Open House

2008-11-05T17:22:00.001-05:00

8443 Couldwood Oaks Lane
Wednesday, November 12, 2008
3:30pm

Condo for Sale

2008-10-05T17:39:00.002-04:00

Coulwood Oaks - $125,000
Wonderful full-brick (deeded) townhouse convenienly located to Uptown, Mountain Island Lake and Airport.

Just updated with bamboo flooring, ceramic tile, carpet and neutral paint throughout.

Dual master suites with updated baths.

Spacious walled patio opens to quiet, wooded Coulwood Park.

Large exterior storage room. Washer/dryer and refrigerator convey.

Charlotte Cobras - Fund Raiser

2008-09-05T13:27:00.008-04:00

The Cobras are raffling a pair of Club Level seats to the December 14, 2008, Carolina Panthers game against the Denver Broncos. These seats are a $340 value and raffle tickets are one for $3 of four for $10. For tickets you can contact me or the team. I donated these tickets because several of the players are friends who are Charlotte-Mecklenburg Police Officers. They have been very helpful with the First Ward Community Fund and this was another opportunity to say thanks.

The Charlotte Cobras are 501(c)(3) nonprofit organization and a member of the National Public Safety Football League. The National Public Safety Football League is a union of public safety agency/ football teams from throughout the United States, united to promote a positive self-image to the public by raising funds for charity through spirited competition. The NPSFL teams play full-contact football. They follow NCAA rules. Each team plays a four game league schedule every spring season. The Cobra Football team is comprised of Police Officers, Firefighters, and Sheriff Deputy’s from the Charlotte-Mecklenburg Police Dept, Charlotte Fire Dept, The Mecklenburg County Sheriff Office, Concord Police Dept, Huntersville Police Dept and other public safety personal in the Charlotte Metro area.

We play for a charitable cause: Cobra Kids. Cobra Kids help kids in high risk environments make sound choices and not fall into a criminal lifestyle. This is our main charity but we are not limited to just this cause. Any worthy children charities would be considered in order to promote the safety and welfare of the kids.

We also help families that have lost loved ones in the line of duty (Law enforcement, Firefighters, and soldiers). Any worthy charities would be considered in order to provide for the families of our fallen brethren.
carolinacobras.org

Full Disclosure

2008-08-13T15:36:00.000-04:00

The Charlotte Observer is reporting in this article that the NC Real Estate Commission has decided to wait on codifying rules on agent bonuses. I wouldn't think we need a rule which states I must be honest with my clients. But obviously we do. I'm certain the Commission will get to this in time. Until then, as ethics are not situational, I will always disclose when there is a bonus involved in a transaction.

Regulators back off real estate safeguards
Proposal would have forced agents to disclose in writing bonuses from builders
PETER ST. ONGE

N.C. regulators declined Wednesday to vote on a rule that would ensure homebuyers know more about their real estate agents' financial interests in selling a home.

The nine-member N.C. Real Estate commission voted to table a proposal requiring real estate agents to disclose in writing any bonuses and other extra incentives sellers are offering before a purchasing decision is made on a home.

The rules change was proposed in October after an Observer investigation on real estate bonuses. It was designed to let consumers know early in the homebuying process if their real estate agents had financial motivation in showing them a home.

Hey, You're Blocking My View!

2008-07-15T10:50:00.005-04:00

I read, with much amusement, this recent article in the Charlotte Observer. Some owners in the Arlington are whining about losing their view.

“I bought here strictly for the view,” Stern said. “There's no other reason to buy here. I believed, mistakenly or not, that the view was sacred.”

Oh my! Where was their outrage when they were blocking the view of the folks at Factory South Lofts. Here's the deal. If you want to maintain your view the answer is simple, buy all the existing property between you and the view. If not, you have no complaint.

A New Record

2008-07-01T09:05:00.005-04:00

I had a closing last week at which my client, a government employee and union member, received a $1,650 rebate. This is a new record for a client.

Prices Are Down - Opportunities Are Up

2008-07-01T08:57:00.004-04:00

The Charlotte Observer is reporting that housing prices in our area have dropped, over a twelve month period, for the first time in seventeen years. There is no need to panic as the decline was .1 percent, as in one tenth of one percent. The article points out that the bottom may not have been reached but also that our local economy is doing well. It is a good time to buy.

Charlotte home prices slip for the year
It's the first such drop since 1991, and things are a lot worse elsewhere – but that's little comfort for homeowners who can't sell.
By Kirsten Valle
kvalle@charlotteobserver.com

HOW CHARLOTTE STACKS UP
For the first time in 17 years, average Charlotte-area home prices fell year-over-year, according to a survey released Tuesday. But the Charlotte market was strongest in the survey of 20 cities. How home prices compare, April 2008 vs. April 2007:

Charlotte
-0.1% (Best in survey.)
Las Vegas
-26.8% (Worst in survey.)
Composite of 20 cities
-15.3%

Average Charlotte-area home prices have fallen for the first time over a 12-month period since 1991, figures released Tuesday show – and they might not have hit bottom yet, experts say.

Still, many remain optimistic, saying Charlotte's historically steady market, population growth and strong job outlook will help the city stay afloat in this increasingly sluggish economy. They point out that things are far worse elsewhere, with steep declines in urban areas nationwide.

Area prices dropped 0.1 percent in the 12 months through April 2008, according to the widely followed S&P/Case-Shiller Home Price Index, ending a three-month streak as the only one of 20 urban markets across the country still showing rising home prices.

“Charlotte is still holding up better than any other market,” Wachovia economist Mark Vitner said. “I think our economy is very resilient.”

That means homeowners should be ready to give up some price appreciation when trying to sell, he said.

Scott Lindsey

2008-06-25T09:50:00.003-04:00

We are going to say goodbye to Scott this afternoon. He was a good friend to my wife Deborah and me. Many nice things have been and will be said about him. Scott was and exceptional man who did the right thing even when there was no one around to see him do it.

In lieu of flowers, memorials may be made to: RAIN (Regional Aids Interfaith Network) Post Office Box 37190, Charlotte, NC 28237 or Myers Park Baptist Church (Friends of Music) 1931 Selwyn Avenue, Charlotte NC 28207.

John "Scott" Lindsey

Mr. Lindsey 44, of Charlotte, passed away June 20, 2008. Both in his career as a real estate broker and, especially, in his nine-month battle with cancer, Scott always thoughtfully mustered his resources to find the best solutions. His tenacious spirit and calm demeanor will be missed by a broad cadre of friends, neighbors, family and medical professionals who served as an extended care team.

A memorial service to celebrate his life will be held at Myers Park Baptist Church, 2001 Selwyn Avenue, Charlotte, NC, at 2:00 p.m. on Wednesday, June 25.

Click here for the complete obituary.

Home Prices Still Rising

2008-05-28T09:40:00.003-04:00

As I watched CNN yesterday I heard the news presenter state that Charlotte is the only real estate market in the U.S. which is still rising. The Charlotte Observer agrees in this story. We have been spared big losses which many cities have experienced. Our local economy is still good and our unemployment numbers are good as well. The reality is it is a better time to buy than to sell but our housing market is stable.

The Charlotte region notched its third month Tuesday as the only one of 20 urban markets nationwide still showing rising home prices.

Area prices rose a little less than 1 percent for the 12 months through March, according to the widely followed S&P/Case-Shiller Home Price Index. That's less of an increase than in previous months but compares favorably with a 14 percent national decline on what is often a person's largest investment.

Charlotte Real Estate Market

2008-05-07T19:18:00.004-04:00

I came across this on charlotte.com and it confirms that the Charlotte real estate market is still moving in the right direction. Our market has been receiving positive publicity lately which as nice change from the doom and gloom of the past few months. Yes things have slowed but we never took a hit like other places across the country. Now is a good time to buy.

Area's housing prices still strong

Charlotte again the only one of 20 urban markets in U.S. showing a slight increase

STELLA M. HOPKINS

The Charlotte region retained bragging rights Tuesday as the only one of 20 urban markets nationwide still showing rising home prices.

Area prices rose 1.5 percent for the 12 months through February, according to the widely followed S&P/Case-Shiller Home Price Index. The index showed prices were down nearly 13 percent for the 20 markets tracked. The hardest hit -- Las Vegas, Miami and Phoenix -- posted declines of more than 20 percent.

February marks the second month in which Charlotte was the only area in positive territory, but its lead has been deteriorating.

"I think the Charlotte market is built around the strong economy we have here," said Brian Passarelli of Re/Max Executive Realty in Charlotte. He's concerned layoffs at Charlotte's big banks might affect the market but remains optimistic about price appreciation.

Mecklenburg County Taxes

2008-04-27T11:07:00.003-04:00

Revaluation Time Line

Mecklenburg County handles valuations for all of the county's roughly 350,000 homes, apartments, businesses and other properties. Those valuations, multiplied by the tax rate, generate each property's tax bill. County commissioners set the countywide tax rate. Charlotte and surrounding towns levy additional taxes, all billed by the county. Every year, the county must notify property owners of valuation changes based on new construction and remodeling. N.C. law requires a full revaluation of all properties at least every eight years to adjust values based on market changes. Revaluations can be done more frequently. The effective date of Mecklenburg's last revaluation was Jan. 1, 2003, five years after the previous one. The current reassessment will establish values as of Jan. 1, 2009. Here's what has been done and the approximate schedule for completion:

August 2007: Began setting values for buildings based on construction costs, adjusted for age, wear and tear and other factors.

February 2008: Completed cost-based assessments and began loading into a computerized, mass appraisal system.

March 2008: Began comparing initial valuations with actual sales prices since Jan. 1, 2007, to identify properties that have been selling for more or less. The comparisons will continue for most of this year.

Summer 2008: Citizens advisory committee meets to review the county's revaluation process. After the committee signs off, the tax assessor gives county commissioners a proposed schedule of 2009 values.

January 2009: County starts mailing notices of new valuations.

May 15, 2009: Deadline for appeals.

June 2009: County commissioners set tax rate at new valuation.

Summer 2009: Tax bills mailed.

Early January 2010: Final deadline to pay tax bill.

WHAT HAPPENS TO YOUR TAX BILL?

You'll get your new property valuation early next year. Elected officials will set rates in mid-2009 using the new values. Here's an early estimate of how tax bills might change:

• Tax decrease if your home value falls or rises up to 10 percent.

• Little or no tax change if your value is in the average zone, up 10 percent to 30 percent.

• Tax increase if your value increased more than 30 percent.

You can appeal

If you disagree with your tax valuation in any year, you can appeal by May 15.
charlotte.com

NATCA Racing

2008-04-24T21:28:00.000-04:00

Starting Friday, April 25, 2008, the Olympic trials are being held at the US National White Water Center in Charlotte, North Carolina. Tad Dennis, a friend and a fellow member of the National Air Traffic Controllers Association, will attempt to make the US team. There has been no stress in Tad's life (wink, wink) as he has been training for both the Olympics and as an Air Traffic Controller at Charlotte International Airport. Take a few minutes and visit his web site. Also; if you have some spare change laying around send it his way to help him buy a new boat to compete in at the World Championships and the Olympics.

Birth of a Union

2008-04-24T18:55:00.004-04:00

The Charlotte Observer recently reported that the pilots of US Airways have voted to leave the Airline Pilots Association (ALPA) and form a new union. This comes after several years of fighting about seniority. Well it is time to stop fighting. My advice to the members of the US Airline Pilots Association is to get behind your leadership. This will not be easy but it is essential. The vote was contentious but it is over and it is time for Solidarity! Captain Bradford, the interim president, should reach out to both the bargaining unit members and the other unions within the company and find the common ground on which to build a great airline. I wish good luck to the US Airline Pilots Association.

Seniority debate a reason for the move to new Charlotte group

JEFFERSON GEORGE
jgeorge@charlotteobserver.com

US Airways pilots have voted to drop their longtime union in favor of a new group based in Charlotte.
The vote, which started March 20 and ended Thursday, was the latest development in an ongoing battle over seniority between two pilot groups that remain separate more than two-and-a-half years after the September 2005 merger of US Airways and America West Airlines...
Of 5,238 eligible voters, 2,723 chose the new US Airline Pilots Association of Charlotte, while 2,254 voted for established Air Line Pilots Association of Washington, D.C., which was founded in 1931 and is the world's largest pilot union. About 95 percent of eligible pilots participated in the vote on which group would have collective bargaining rights for US Airways pilots...
"We will join the other great independent airline pilot unions on the national front," said US Airways Capt. Stephen Bradford, USAPA's interim president, in a statement, "while our pilots enjoy single carrier union representation, solely focused on our pilots' needs and fully accountable only to them."