CHARLOTTE REAL ESTATE NEWS Gated, waterfront communities have historically been viewed as one of those sure bets in real estate.  Being on or near the water appears to never go out of style.   Unfortunately, with the recent credit crunch, many may still want to buy in these communities but fewer people have been able to afford the down payments required by lenders to start on the build of their home.  Fortunately, there are some efforts to work around these challenges in the subdivision Reflected Pointe in Belmont, NC, located minutes from Downtown Charlotte.  Selected lots there are being offered seller financing for up to two years.  Buyers may decide to hold the lots for the two years without having any mortgage payments, while locking in the gains that may be had from purchasing in today’s sluggish market. Others may decide to move forward with their build right away and take the enormous credit upfront from the seller financing incentives offered. It is an extraordinary offer addressing extraordinary times.

Reflection Pointe is located off of I-85, nestled along the shores of Lake Wylie, 25 minutes from Downtown Charlotte, 15 minutes from the Charlotte airport and other attractions. It is a resort like community in the historic, charming city of Belmont.   Many don’t expect to see this gated community, with rolling hills, a tremendous waterfall entrance and string fountains and an amenities package including an athletic field, stocked ponds throughout, walking trails, private marina and boat storage, clubhouse, tennis courts, pools, and more.  Homes range in the high $400Ks to over $2 million in this community of approximately 360 future homes.    I’ve watched this community grow, and this is probably the first time I’ve heard of seller financing on lots for such a generous time period of two years.  Buyers in a position to purchase can really take advantage of great offers in today’s marketplace.

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CHARLOTTE REAL ESTATE Ever since its birth in the late 19th century, Dilworth neighborhood has been on the move, constantly evolving and morphing as new waves of folks become captivated by its charm.  The earliest of Charlotte’s true suburbs, once connected to “Uptown” Trade and Tryon Streets by an electric trolley, Dilworth and its own Latta Park are the best examples of visionary urban planning that accommodated an early industrial era of textiles, a modest beginning of mill houses, a burgeoning middle class, then finally to some of Charlotte’s best examples of Bungalow, Victorian and Colonial Revival stately homes.
The original pioneer developer, Edward Dilworth Latta, once marketed his properties with the slogan, “Buy a House with the Rent Money.”  Nowhere is that more apt today than at the newly constructed condo in Dilworth Walk complex priced at $172,500, MLS #847987.  A recent good faith estimate, reflecting today’s low interest rates, property taxes, mortgage insurance and the low Homeowner’s dues, pegs the monthly payments at around $1200. Coupled with the $8,000 homebuyer credit, it makes dollars and cents logic to switch from paying rent to home ownership.  Especially in Dilworth!

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