Many buyers are seeking Charlotte Real Estate with several acres. Yes, as Charlotte continues to grow this becomes more and more of a commodity. many people do have trouble understanding the value of land. Yes, it is confusing but if your are seeking such real estate then you really need to understand the market value of Charlotte property.
Let's say that you have 5 acres of land in Charlotte. This could be one home. Let's assume it will be in an area with million dollar homes (such as Myers Park or Ballantyne). The value of a lot would be closer to $1,000,000 with an older home with a value of $200,000. The seller is not going to "sell" the property based on the value of the home. You will be paying the premium for the land.
Typically, the value of the land (when properly utilized) is 20% of the total value of the expected/typical home in the immediate area/neighborhood.
A single lot in South Charlotte sells for about $200,00. That could be for a lot as small as .5 acres! If that 10 acre parcel could support 20 homes than the lot would be valued at 2,000,000! Now if you owned 10 acres of land with a small farm house, would you sell it for $200,000 or $2,000,000? Keep in mind that $200,000 a lot is typically for after the land is developed and ready to build. You can not expect the buyer to pay developed lot priced for raw land but the value is there.
Now keep in mind that Charlotte Real Estate property value is based upon "current" market value of the land. What would a willingf seller be will to accept ad a willng buyer be willing to pay for the property? Prices for Charlotte Land for Sale vary dramatically; the actual sales price is based on many factors. I can help sort through the complexity of varying land values in the greater Charlotte Real Estate market. Call Rick Waite @ 704.770.6559 or visit Charlotte Real Estate and together we will deterime a fair price you could expect to receive when selling your property.
Monday, June 15, 2009
Thursday, June 04, 2009
Charlotte Foreclosures
As the Charlotte Real Estate market continues to evolve the builders are evolving with it. The sub prime neighborhoods are going through a rough transition at the moment but there will definitely be opportunity here in the not so long term. Since the builders were "stuck" in many of these sub prime neighborhoods they stopped building. Basically the supply outpaced the demand (nor sub prime lenders). Charlotte New Home Builders stopped building and now the neighborhoods are transitioning. The investors lost a mint. This occurred because investors accelerated the problem. They purchased new homes in these neighborhoods and added renters into the new neighborhoods. Many renters do not care and destroy the homes and the neighborhoods follow.
As they investors leave along with the sub-prime borrowers, a new and more stable Charlotte neighborhood is taking root. Charlotte Foreclosures spell opportuinty! Who would have guessed the lack of mortgage availability would improve our real estate market but it really is. Home ownership is still available to anyone but you now actually must be responsible and pay your bills.
The demand for Charlotte homes is still very strong and the best deals sell quickly. Visit my Charlotte Real Estate website today and begin learning about our great city.
As they investors leave along with the sub-prime borrowers, a new and more stable Charlotte neighborhood is taking root. Charlotte Foreclosures spell opportuinty! Who would have guessed the lack of mortgage availability would improve our real estate market but it really is. Home ownership is still available to anyone but you now actually must be responsible and pay your bills.
The demand for Charlotte homes is still very strong and the best deals sell quickly. Visit my Charlotte Real Estate website today and begin learning about our great city.
Thursday, May 28, 2009
Charlotte NC Quality of Life
Many people are familiar with all of the great opportunities surrounding Charlotte but there is much more.
Did you know the first American Gold Rush was in North Carolina? Did you know is was in the neighboring counties to the east of Charlotte? Visit Gold Hill NC or the Reed Gold Mine.
Did you know there was a Native American Reservation in Rock Hill SC? The Catawba Indian Reservation is just south of Charlotte NC.
Did you know US President Polk was born in Pineville NC?
Did you know US President Andrew Jackson was born in the Piedmont of the Carolinas? There is a question whether he was born in North Carolina (Waxhaw) or in neighboring SC in Indian Land.
Did you know the town of Waxhaw is named after the Waxhaw Indians and the tribe is technically extinct? The remaining survivors were absorbed into the Catawba Indian tribe.
Indian Land SC was the home of the Catawba Indians but there are no reservations in Indian Land.
Did you know Indian Trail NC was the old wagon trade route in the 1700's?
There are many things to learn about your new Charlotte home. History is all around and ready for you to explore. Search Charlotte area homes at Charlotte NC Homes for Sale. There is no need to waste any more time.
Did you know the first American Gold Rush was in North Carolina? Did you know is was in the neighboring counties to the east of Charlotte? Visit Gold Hill NC or the Reed Gold Mine.
Did you know there was a Native American Reservation in Rock Hill SC? The Catawba Indian Reservation is just south of Charlotte NC.
Did you know US President Polk was born in Pineville NC?
Did you know US President Andrew Jackson was born in the Piedmont of the Carolinas? There is a question whether he was born in North Carolina (Waxhaw) or in neighboring SC in Indian Land.
Did you know the town of Waxhaw is named after the Waxhaw Indians and the tribe is technically extinct? The remaining survivors were absorbed into the Catawba Indian tribe.
Indian Land SC was the home of the Catawba Indians but there are no reservations in Indian Land.
Did you know Indian Trail NC was the old wagon trade route in the 1700's?
There are many things to learn about your new Charlotte home. History is all around and ready for you to explore. Search Charlotte area homes at Charlotte NC Homes for Sale. There is no need to waste any more time.
Sunday, April 26, 2009
Charlotte Condos - Charlotte Townhomes
Charlotte Condos for Sale experienced explosive growth over that past several years. The main area of growth was in uptown Charlotte NC. Charlotte planning realized that a great city needs to keep the uptown workers close to town to aide the local economy. Charlotte observed that other cities lost economic activity at night when the workers went home to the suburbs. Center City Charlotte made great strides so that uptown Charlotte remained vibrant after dark. Charlotte began by attracting entertainment venues into the city. This included the arena, the football stadium and various other venues such as the Nascar Museum. The restaurants and night clubs followed suit as did the young professionals. Charlotte Condos began to thrive as the national excitement grew about Charlotte Real Estate.
Today the market has cooled due to the national economy. Crisis means opportunity! There are currently a great deal of Charlotte Condos being sold at lower prices than new! This is a fantastic deal since Charlotte will inevitably continue to grow. How can you really tell that Charlotte will continue to grow? Talk to people. Do not just follow the media like sheep but speak to people who actually live here. Ask them what they think. Ask them if they have family or friends relocating to Charlotte in the future. Just ask.
You will find that the growth in Charlotte is not due to the media but by real people visiting and realizing how nice it is to live here. You will discover this also. I would hope you question every resource. The best way to gain an impression of an area is to speak to someone who is thinking like you but a few years ahead (they already moved). Do not stop at just one person. Ask people at breakfast, out shopping, or in a coffee shop. You will quickly realize what is happening as Charlotte Homes for Sale continue to multiply! The time to buy a Charlotte home is today! The prices are only going up along with the interest rates.
Today the market has cooled due to the national economy. Crisis means opportunity! There are currently a great deal of Charlotte Condos being sold at lower prices than new! This is a fantastic deal since Charlotte will inevitably continue to grow. How can you really tell that Charlotte will continue to grow? Talk to people. Do not just follow the media like sheep but speak to people who actually live here. Ask them what they think. Ask them if they have family or friends relocating to Charlotte in the future. Just ask.
You will find that the growth in Charlotte is not due to the media but by real people visiting and realizing how nice it is to live here. You will discover this also. I would hope you question every resource. The best way to gain an impression of an area is to speak to someone who is thinking like you but a few years ahead (they already moved). Do not stop at just one person. Ask people at breakfast, out shopping, or in a coffee shop. You will quickly realize what is happening as Charlotte Homes for Sale continue to multiply! The time to buy a Charlotte home is today! The prices are only going up along with the interest rates.
Monday, April 20, 2009
Charlotte NC Home Tax Values
Many people continue to get mired in the "Assessed tax value" of Charlotte Real Estate. North Carolina and South Carolina Real Estate is assessed every four to eight years and each county decides when to assess. The assessments are all made together as a "mass assessment". This means they compare like properties in a very general sense by type of home, heated living area and garage. It is a little more detailed but not much. For example, if you have a home that is in extreme disrepair compared to one that is completely updated, it is likely that they will have the same assessed value if they are similar in square footage and in the same neighborhood. Do they really have the same market value? Of course not. Does te owner of the run down home realize that his home was over assessed? Typically not because he is delighted that his home is worth more than he thought.
Next consider time. What were the prices in the neighborhood four or five years ago? The only reason it matters is because you can see if the neighborhood is generally trending upward or downward since last property tax assessment. Here is a good way to elate to this issue:
Consider the Dow Jones Industrial Average. If you were purchasing a share of the DOW, would it really matter what it was worth four or five years ago? All that would tell you is that the value has appreciated or depreciated since then. That trend may change but you at least can use the history as a guide. Would you expect to pay the price of the stock four or five years ago or would you expect to pay current market value? Charlotte homes are the same.
How do you assess current market value? Market value is determined by what the market eill support. The best indicator is how much has a ready, willing and able buyer pay for a similar home today. We look back three months to help determine market value.
Visit Charlotte NC Homes for Sale to learn more about the greater Charlotte Real Estate region.
Next consider time. What were the prices in the neighborhood four or five years ago? The only reason it matters is because you can see if the neighborhood is generally trending upward or downward since last property tax assessment. Here is a good way to elate to this issue:
Consider the Dow Jones Industrial Average. If you were purchasing a share of the DOW, would it really matter what it was worth four or five years ago? All that would tell you is that the value has appreciated or depreciated since then. That trend may change but you at least can use the history as a guide. Would you expect to pay the price of the stock four or five years ago or would you expect to pay current market value? Charlotte homes are the same.
How do you assess current market value? Market value is determined by what the market eill support. The best indicator is how much has a ready, willing and able buyer pay for a similar home today. We look back three months to help determine market value.
Visit Charlotte NC Homes for Sale to learn more about the greater Charlotte Real Estate region.
Sunday, April 12, 2009
Charlotte Builders Continue to Merge
Two national builders merged this past week. Pulte, the owner of Del Webb Senior Communities and Sun City Carolina Lakes south of Charlotte Real Estate, has purchased/merged with Centex. Centex Home Builders was based out of Texas and had large land holdings in both Texas and the Carolinas. This was appealing to Pulte based on the demographic trends and the baby boomers. New Homes nation wide and especially the Charlotte new homes market will flourish with senior homes.
Pulte homes tended to focus more on seniors and I am certain they will continue on this successful business plan as lending rules constrict. As lending rules tighten (or actually just become practical and cost effective) who has equity, credit and money? Seniors! It will be prudent to structure developments to cater to the seniors as they retire and continue to move south for lower taxes, less expensive homes and a warmer climate.
Centex was building new developments and were riding the trend of larger and larger homes. As credit tightened, much of their market could not sell their homes out-of-state and business slowed. Pulte capitalized on this opportunity. Every crisis provides opportunity for those positioned well for the current trends and demands. Pulte Homes is that company.
Visit Charlotte NC Homes for Sale to learn about the great Charlotte Real Estate Opportunities. Yes, our market has slowed due to the national downturn. but it is still the best place to buy a home. People all around the nation have the desire to relocate to Charlotte Real Estate just to not have the financial liquidity to capitalize on the current opportunity. Be assured their plans have not changed; merely placed on a temporary hold. The opportunities of today will be gone very soon. If you are fortunate enough to capitalize on this financial downturn, Charlotte NC Real Estate awaits.
Pulte homes tended to focus more on seniors and I am certain they will continue on this successful business plan as lending rules constrict. As lending rules tighten (or actually just become practical and cost effective) who has equity, credit and money? Seniors! It will be prudent to structure developments to cater to the seniors as they retire and continue to move south for lower taxes, less expensive homes and a warmer climate.
Centex was building new developments and were riding the trend of larger and larger homes. As credit tightened, much of their market could not sell their homes out-of-state and business slowed. Pulte capitalized on this opportunity. Every crisis provides opportunity for those positioned well for the current trends and demands. Pulte Homes is that company.
Visit Charlotte NC Homes for Sale to learn about the great Charlotte Real Estate Opportunities. Yes, our market has slowed due to the national downturn. but it is still the best place to buy a home. People all around the nation have the desire to relocate to Charlotte Real Estate just to not have the financial liquidity to capitalize on the current opportunity. Be assured their plans have not changed; merely placed on a temporary hold. The opportunities of today will be gone very soon. If you are fortunate enough to capitalize on this financial downturn, Charlotte NC Real Estate awaits.
Monday, March 23, 2009
Charlotte Real Estate and the Charlotte Condo Market
There are many people seeking a solid Charlotte real estate investment but a single family home does not fit your lifestyle. Some of these people include seniors, single professionals and young couples just starting out and tired of paying rent. Charlotte Condos for Sale may be what you are seeking. There are several caveats to consider as you discover the Charlotte Condo market.
Charlotte is still a very new city. The condo market in Charlotte NC is still in its infancy. Many developers/investors did not do much research and just threw in their cash. Not a wise move.
You must first consider your market niche and decide why would a person want a condo in this location. Condos are to offer a more affordable home or convenience. Convenience is to either work and or night life. Condo developers swarmed in uptown Charlotte a couple of years ago without noting that the rate of condo development was far exceeding demand. Ultimately this challenged outer area condos because uptown Charlotte Condos were all the rage.
The rage has subsided and now many Charlotte Condo investors are holding onto empty condos. There will be many deals on uptown Charlotte Condos but please consider call of the expenses prior to buying. I do not share this to take you away from the condos but please consider these a longer term investment and be assured it is affordable for your budget. I do not want you to repeat the process that has occurred in uptown.
There are also areas where condos make a lot of sense. For example consider Piedmont Row in Southpark. Piedmont Row is a very nice complex with a great location in Southpark. Since Southpark attracted thousands of professionals that spend a couple of weeks a month at this office. These Southpark Condos are designed with you in mind. Due to the over development of Uptown Condos, many condos in outer areas (such as Southpark) did not see much activity over the past several years.
The areas such as Southpark will be ideal to take advantage of the slower market there. You can purchase condos below market value and be comfortable that you investment will appreciate over the next 5 or so years. These outer areas will recover much faster than uptown. Uptown Charlotte condos will take a while before our population meets the supply. In the mean time many of the 'investors' will let these homes go back to the bank.
Opportunity is all around. You just need to trust an expert that has your shared interest first. Visit my Charlotte Real Estate website for additional information of the greater Charlotte NC Homes market.
Charlotte is still a very new city. The condo market in Charlotte NC is still in its infancy. Many developers/investors did not do much research and just threw in their cash. Not a wise move.
You must first consider your market niche and decide why would a person want a condo in this location. Condos are to offer a more affordable home or convenience. Convenience is to either work and or night life. Condo developers swarmed in uptown Charlotte a couple of years ago without noting that the rate of condo development was far exceeding demand. Ultimately this challenged outer area condos because uptown Charlotte Condos were all the rage.
The rage has subsided and now many Charlotte Condo investors are holding onto empty condos. There will be many deals on uptown Charlotte Condos but please consider call of the expenses prior to buying. I do not share this to take you away from the condos but please consider these a longer term investment and be assured it is affordable for your budget. I do not want you to repeat the process that has occurred in uptown.
There are also areas where condos make a lot of sense. For example consider Piedmont Row in Southpark. Piedmont Row is a very nice complex with a great location in Southpark. Since Southpark attracted thousands of professionals that spend a couple of weeks a month at this office. These Southpark Condos are designed with you in mind. Due to the over development of Uptown Condos, many condos in outer areas (such as Southpark) did not see much activity over the past several years.
The areas such as Southpark will be ideal to take advantage of the slower market there. You can purchase condos below market value and be comfortable that you investment will appreciate over the next 5 or so years. These outer areas will recover much faster than uptown. Uptown Charlotte condos will take a while before our population meets the supply. In the mean time many of the 'investors' will let these homes go back to the bank.
Opportunity is all around. You just need to trust an expert that has your shared interest first. Visit my Charlotte Real Estate website for additional information of the greater Charlotte NC Homes market.
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