The best deal in Charlotte NC Real Estate at this time is for the million plus dollar homes. Providence Downs South in Marvin NC is a great example. Providence Downs South is a huge development with million dollar custom homes. Marvin NC Real Estate is across the Mecklenburg County border (in South Charlotte NC) into Union County. The location could not be better; convenience to shopping, restaurants, entertainment and Union County Schools.
Providence Downs South Homes for Sale are a showcase for custom home builders. Builders each competed with one another to demonstrate their finished product. Many buyers, realizing the prestige and value in Providence Downs South purchased homes. Many of the custom builders built model homes in Providence Downs South.
When the housing market had the downturn, our million dollar market slowed way down. There were already and abundance of these homes in the various building stages. What is a builder to do? Stop everything until the economy improves? Accept that what you are building has the value so continue moving forward? Assume the economy will pick up before you are finished?
Most of the builders had homes that were already too heavily invested to stop. The market slowed and the new home surplus began to increase. There are many deals in Providence Downs South for almost 1/2 off. Homes that sold for $1,400,000 are being sold in the $800's. All of them? No.
Many owners that need to relocate once again are still listing their homes at fair market value. What do you mean? The homes being sold in the $700's and 800's are actually selling for less than the cost. Why are these great deals?
Home buyers are trying to float the mortgage for a couple of years to enjoy the $700,000 in equity either for their future resale. Regardless of your position is will have a lot of equity to enjoy. Charlotte Real Estate is here to stay! Visit Charlotte Real Estate - Charlotte NC Homes for Sale for your home search and to learn more about the greater Charlotte Real Estate Market.
Tuesday, July 28, 2009
Saturday, July 25, 2009
Charlotte Real Estate Trends
Today everyone is looking for a great deal! There are great Charlotte NC Homes for sale but you need to have an understanding of our economy to find the best priced properties. How can you tell?
First, I always recommend to trust your "informed" instincts. Realize that all real estate is local. A home is discounted to a list price lower than New York is not necessarily a deal. If you are seeking to move into the 10% least expensive homes in Charlotte, this is similar moving into the bottom 10% of the any city. This does not make the areas "bad". This just means you find similar environments in the least expensive neighborhoods in any city. There is no difference. I just want you to realize beforehand that you are selecting to relocate your family into the bottom 10% of Charlotte NC Real Estate.
Now there are great deals in the high dollar market. You can also purchase a home there way below the cost of building the home. The difficulty is that these homes are harder to finance with Jumbo mortgage rates and the escalating foreclosure rates. If you can afford one of these homes then you stand to make hundreds of thousands in a couple of years.
Ultimately, you need an excellent Realtor to help you find your ideal home. What type of neighborhood are you seeking? Are you seeking a rental neighborhood? What time frame are you hoping to regain the equity? Are you on a 2 year plan or a five year plan? There are variables but experience helps minimize foreseen risks. Call me today and I can help or visit Charlotte Real Estate Charlotte Foreclosures for additional insights into our market.
First, I always recommend to trust your "informed" instincts. Realize that all real estate is local. A home is discounted to a list price lower than New York is not necessarily a deal. If you are seeking to move into the 10% least expensive homes in Charlotte, this is similar moving into the bottom 10% of the any city. This does not make the areas "bad". This just means you find similar environments in the least expensive neighborhoods in any city. There is no difference. I just want you to realize beforehand that you are selecting to relocate your family into the bottom 10% of Charlotte NC Real Estate.
Now there are great deals in the high dollar market. You can also purchase a home there way below the cost of building the home. The difficulty is that these homes are harder to finance with Jumbo mortgage rates and the escalating foreclosure rates. If you can afford one of these homes then you stand to make hundreds of thousands in a couple of years.
Ultimately, you need an excellent Realtor to help you find your ideal home. What type of neighborhood are you seeking? Are you seeking a rental neighborhood? What time frame are you hoping to regain the equity? Are you on a 2 year plan or a five year plan? There are variables but experience helps minimize foreseen risks. Call me today and I can help or visit Charlotte Real Estate Charlotte Foreclosures for additional insights into our market.
Monday, June 15, 2009
Charlotte Land For Sale
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.
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.
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.
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