Wine and Cheese Open House

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

Condo for Sale

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

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

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!

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

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

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.