Downtown Charlotte Real Estate Market Trends – North Carolina

News for Downtown Charlotte, NC | View Downtown Properties for Sald - June 15th, 2011 1:33pm
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News for Downtown Charlotte, NC - July 29th, 2010 5:25pm
Charlotte 's tremendous growth rate is reflected in the housing market, which has remained hot for years, no matter the swing in interest rates. The city offers an array of homes, both existing and new construction, giving people a selection large enough to accommodate anyone's taste. And you'll find just about any style you want: cozy bungalows or two-story Georgians, modest ranch houses or custom-built mansions, ginger-breaded Victorians or contemporary condos.
The same variety abounds in lifestyle. Choose from Uptown living or suburban locations, comfortable old towns or new-home communities, urban homesteading or prime Piedmont countryside.
Some current trends in the Charlotte region's housing market may add an interesting twist or a challenging dimension to your search. First, while prices are still reasonable here compared to some other parts of the country, housing in this area isn't the bargain it once was. Thus, depending on your circumstances, finding a home in your price range may mean you'll have to look a bit longer, come up with some more cash or expand your search to less-costly neighborhoods that are a little farther away from the office.
At the same time, you'll find some options here that you wouldn't have enjoyed a few years ago. Case in point: condos and lofts in various locations throughout Uptown Charlotte and other urban neighborhoods in Charlotte . Neo-traditional communities, whose homes and layout reflect the old-fashioned neighborhoods many of us grew up with, also have become extremely popular.
If you like Charlotte condos or town homes, you've come to a good place. The condo market has boomed in the past decade, with sales nearly doubling in the five-county Charlotte region. In addition, building permits for condos and t Charlotte own homes have increased several hundred percent over the last five years.
With demand, though, comes a higher price. You'll pay more for a condo in Charlotte 's hottest neighborhoods, although you can find a lot of Charlotte foreclosure bargains in new construction and former apartments that were converted to condos years ago.
One way to start your search is with the area map you can find on my website www.TalkCharlotteRealEstate.com and, which covers seven counties including Mecklenburg, Union, and York. The map, which pinpoints neighborhoods and developments in the Charlotte region, is used to organize home listings in the MLS directory and newspaper classified ads. The center of the map is Uptown, which is still primarily commercial and industrial but has a rapidly growing list of residential options. Look for Uptown listings in Area 99. You can get that map and search on my website at www.TalkCharlotteRealEstate.com.
Nine areas branch out from the center in a clockwise fashion, starting at the top, or the north. Area 1 is north, Area 2 is northeast, Area 3 is east, Area 4 is southeast, Area 5 is south, Area 6 is south-southwest, Area 7 is southwest, Area 8 is west and Area 9 is northwest.
Because the metro region has sprawled across county lines, the area designations extend there too. They include Area 10, Union County; Area 11, Cabarrus County; Area 12, Iredell County; Area 13, Lake Norman; Area 14, Lincoln County; Area 15, Lake Wylie; Area 16, Gaston County; Area 17, York County; Area 20, Alexander County; Area 21 Rowan County; Area 22, Cleveland County; Area 23, Stanly County; Area 24, Lancaster County; Area 25, Anson County; Area 29, Cabarrus County; and Area 35, Chester County.
Once you're ready to buy, choose from the wide selection of mortgage options. The area is served by dozens of firms, including mortgage brokers who represent lenders nationwide as well as local lenders. You can find plenty of options for 30-year and 15-year fixed mortgages, ARMs (adjustable rate mortgages) with a variety of terms and jumbo loans.
To help you negotiate the mortgage challenge, here are two tips. First, before you shop, qualify for a loan to know how much financing you can seek. Second, take a few minutes to make sure your paperwork is in order. Check your credit reports and clear up any nasty surprises you might uncover. Organize your financial papers so you'll have the documentation you need at your fingertips to complete the application process quickly.
For more information on what the Charlotte area has to offer, Give the RE/MAX Talk Charlotte Team a call 888-297-6100. You'll find these agents know the area well and can guide you in the right direction.
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News for Downtown Charlotte, NC - Sunday May 9th, 2010 12:27pm
You Can't Take It With You!


We always hear that when you "go", you can't take your worldly possessions with you. Well, that sort of applies to when go on vacation or on a business trip…you can't take all of your worldly possessions with you! Many of us over pack when we go on a trip, regardless of the fact that we're charged extra fees for heavier baggage. Getting all of our luggage to and from our home to the airport or rail station, to the hotel, and to our homes again can be a real pain…especially when we try to take too much with us. So, what can make traveling a little easier? One solution is to live closer to the airport or train station. Then, it's easier to haul our stuff to and fro!

There are some great places to live within a stone's throw of the Charlotte-Douglas International Airport, as well as within walking distance of the Charlotte Area Transit System's train, The Lynx. I've looked up what $100,000 to $145,000 can buy in Uptown Charlotte and found some really sweet places. These are especially great steals for recent college graduates who have landed an entry level job with a great company; and are looking to save money by walking to work, going home for lunch, walking to restaurants and nightclubs, and entertaining at home. Uptown Charlotte is easy walking distance to the Lynx rail way and only 15 minutes by car to the airport. Charlotte Train

First on the list is one of the larger for its price, you get about 1,100 square feet for $141,100 and the seller is willing to pay up to 3% in closing costs. It is located in Manhattan on the Park in Uptown and is a two bedroom, one bathroom end unit townhome with patios in the both the front and the back of the home. The living room has a fireplace and crown molding, the master bedroom has a spacious vaulted ceiling, and it's located right in the heart of Fourth Ward (MLS #915819).

Next is another Fourth Ward condo with enormous ceilings because it's a one bedroom, one bathroom, top floor, end unit on North Church Street. A very nice feature about this loft style condo is that the building has a pool! So, in addition to the high ceilings, modern lighting, ceiling fans, and walk-in closet; you'll be able to socialize pool-side while getting a tan this summer. But only if you move fast! This place is priced to sell at only $142,000 (MLS# 771917).

On the other side of Uptown, we find the Garden District and a sweet one bedroom one bathroom condo also on the top floor, with prefinished wood floors in the living area, a granite bar top, recessed lighting, ceiling fans in the living room and the bedroom, and ample storage space. This home feels very open thanks to the 9′ceilings. For $145,000 you'll have approximately 700 square feet of prime living space (MLS #924311).

Condo insideFinally, the last one I'll mention for now (but certainly not the last available!), is at Sixth Street and Davidson. This home is very special; in fact, it was featured in an Uptown Living article in The Charlotte Observer. There is a built in computer desk area with shelves, the living room and kitchen are nice and open giving the home a very spacious feeling, and this building has a parking deck in case you want to keep your car. You really don't need to though; this home is just one block from the 6th Street light rail stop. At just $144,900, the refrigerator, full sized range, as well as the washer and dryer are included(MLS #910588).

For anyone that travels and works Uptown, these places are ideal. Not only are you close to the main office, but you're close to the main modes of transportation. Cabs are constantly swarming the streets of Center City, the train is going back and forth for the early hours until past midnight, and the airport is within minutes away. You can get there quickly, but best of all you can get home quickly when you return.

Sure, we can't take it with us when we go, but we can make sure that when we come back it's all waiting for us as close as possible!... [ + Read Full Article ]