For more detailed market information on Lincoln County or other Charlotte Metro areas please visit our website or call 1800-851-5253.

CHARLOTTE REAL ESTATE NEWS

In today’s market, A BUYER’S MARKET, it is imperative that sellers are aware of the five most important factors necessary to maximize the ultimate sales price. With a growing inventory of homes for sale, sellers who understand how to position their home in a buyer’s market will be the ones who sell their home in the shortest time possible at the best price possible. Begin by looking at your home through the eyes of a potential buyer.

There are five basic factors that ultimately determine whether a home is going to sell, or simply be one of many homes on the market with very few showings and no offers:
Buyers have many choices in today’s market.  In order for a seller to maximize the selling price of a home, the home must be “Parade Ready” and priced right! PRICE is determined by:  CONDITION, LOCATION, SIZE, and FEATURES. A home that can rate a score of 10 in CONDITION, LOCATION, SIZE, and FEATURES can be more aggressively priced compared to a home that is deficient in any of the categories. A seller can only control CONDITION, FEATURES and PRICE.  LOCATION and SIZE are not controllable.
Currently there are 28,271 homes on the market, and over the past three months only 4,410 homes sold.
To be among the 4,410 homes that sell, your home must be Valued as a 10 in: CONDITION, LOCATION, SIZE, FEATURES, and that will allow a 10 in PRICE. If your home is not rated a 10 in all these categories, then PRICE will need to be adjusted for these deficiencies.
There are three categories for the 28,000 homes currently on the market:
FLOW. Homes that are considered to be the best Value and Price flow into the market and then leave the market SOLD in less than 45 days.
SHOW.  Homes that are deficient in Value or Price might be shown, but they are not getting any offers.  Adjustments must be made in Price or Value (Condition, Features) to get the listing sold.
STAGNANT MASS.  Homes that are greatly deficient in      both Value and Price do not even attract showings.  There     is  virtually no activity, and these listings never sell.
Ask yourself where you want to position your house in this competitive Buyer’s market. Remember, any deficiency in the five categories of: CONDITION, LOCATION, SIZE, FEATURES or PRICE will remove your listing from the “Flow” of the market and place it in the “Show but no offer” category or worst yet, in the “Stagnant Mass” with no showings.
If positioned properly, your home will be in the “Flow” of the market, and it will attract a buyer.

To have your home priced correctly by one of our professional agents please contact us at 1-800-851-5253 or visit our website at www.helenadamsrealty.com

It is estimated that 53% of the home buyers in 2009 will be first time home buyers.  There were two Acts, one passed in 2008 and the other in 2009 to assist first time homebuyers with tax credit funds.
The following is a summary of the 2008 and 2009 Tax Credit Acts.  The 2009 Tax Credit Act will not be applicable for purchases after November 30, 2009.  Now is the time to buy!

Additional Tax Credit Information:
Purchase Date for a residence being constructed:
The Purchase Date is the date the individual moves in, even though construction began earlier.
First Time Homebuyer:
An individual is a “first-time homebuyer,” if neither the individual nor the individual’s spouse has owned an interest in a principal residence in the U.S. during the 3-year period ending on the date of the purchase of the current residence.
An individual’s marital status is determined at the date of purchase.
Ownership of a dwelling that is not the taxpayer’s principal residence within the prior three years does not affect qualification for the credit.
36-Month Recapture Rule Exceptions:
Transfers between spouses
Transfers because of death
Involuntary conversions
No gain on sale
Treatment of Unmarried Co-Owners:
Two or more unmarried individuals may purchase a residence and qualify for the credit.  However, the total amount of the credit allowed to the individuals in the aggregate may not exceed the overall cap of $8,000 for 2009 ($7,500 for 2008).  The co-owners may allocate the credit between themselves in any reasonable manner.  No portion of the credit may be allocated to a co-owner who would not otherwise qualify for the credit.  No portion of the credit may be allocated to a co-owner who did not contribute financially toward the purchase price of the residence.  Example:  If co-owner A pays the entire purchase price of the residence and lists co-owner B as a 50% owner, co-owner B is not eligible to take any of the credit.  Co-owner A would take the entire credit.
2009 Credit May Be Taken on the 2008 Tax Return:
If an individual purchases a qualifying residence after 2008, and before December 1, 2009, the individual may elect to treat the purchase as made on December 31, 2008.  If this election is made, any income phase-out will be based on 2008 Adjusted Gross Income.  However, taking the credit on a 2008 return (rather than the 2009 return) does not subject the credit to the 15-year recapture provisions.  If your client thinks they want to do this, they should consult their tax advisor.  This requires some careful tax planning and calculations.  To take advantage of this option, the individual can either:
Extend 2008 Return Until  Home is Purchased, or
Amend their already filed 2008 Return
This is a Refundable Credit:
If the credit exceeds the individual’s tax, they can still receive a refund for the eligible credit amount in addition to whatever refund they might already be due.

CHARLOTTE REAL ESTATE

The Arlington in Charlotte’s historic SouthEnd district is located a few blocks from center city Charlotte, as well as the quaint historic Dilworth neighborhood.  Trendy dining, shopping, entertainment and Charlotte’s Light Rail are within walking distance. In fact, one of Charlotte’s hottest dining and nightlife spots, Nikko, is on the bottom retail level floor of the Arlington!  Nikko is a sleek, modern sushi bar that turns into a posh nightclub at night that draws a beautiful crowd. The location of The Arlington is spectacular, and skyline views from its floor-to-ceiling glass condos are phenomenal.

Most importantly, The Arlington is priced exceptionally!  The Arlington is also an iconic building in SouthEnd, which is known to most locals as “the pink building”  (better buy one before Paris Hilton does- ha!).   The Arlington has urban appeal and dramatic skyline city vistas. Parking is also very convenient at The Arlington for residents and guest.  There is an attached parking garage with 24 hr security, which also has parking for retail. The Arlington also features a Rooftop Pool and Fitness Center.

The units at The Arlington are 1 and 2 bedrooms, all with balconies, 10 foot ceilings and floor-to-ceiling glass windows with spectacular views.  Units are currently priced from the mid $140,000 range!

The Arlington is next to Charlotte’s Light Rail, Uptown, Dilworth and the Dowd YMCA.

The average residential closing price for the Charlotte area in April 2009 was $201,352, down approximately 5 percent compared to 2008.  Sold prices are reflecting those of five years ago in 2004.

CHARLOTTE HOMES  Driving through Charlotte neighborhoods they are easy to spot! Recognizable by odd sized and often tall windows, clean vertical and horizontal lines, sometimes stark lack of ornamentation and unusual mixtures of building materials – flat or textured panels, stone, and brick, for instance. The movement toward Contemporary-style homes began in the 1950’s as architects designed flat and gabled roof types – often ranches – now labeled the Mid Century Modern home.  Examples can be found throughout Charlotte subdivisions built during that era like Cotswold, Stonehaven, Lansdowne, to name a few.
Since then, Contemporary architecture has continued to evolve, utilizing newer building products such as Hardie board siding (made from fiber cement), modular concrete, and composition stones.  Spans and ceiling heights have increased, allowing larger, more open floor plans.  Architects have taken full advantage by improving Mid Century Modern home’s dimensions, notably in bedrooms and family living spaces.  Ceiling heights have soared. Bathrooms have expanded beyond merely functional.  Closets and storage have improved to meet the need of “bulk buyers”.
Contemporary architecture still follows an adventuresome, creative crowd.  Thus, The Arts District is a particularly receptive of individualistic contemporary urban design.  In NoDa, life truly emulates art!
Folks know that NoDa is home to Charlotte’s Historic Arts District. See www.noda.org.
The neighborhood offers an eclectic mix of urban funkiness with inspiring art galleries, fun restaurants and unique shops centered along North Davidson Street.  Many of the early 1900’s mill homes have been restored, remodeled, and significantly updated, often with an urban flair.  Infill custom builders have found lots or tear downs and constructed their own versions of bungalow style homes with modern features.  Significantly, The Arts District boasts the highest concentration of newer Contemporary homes around town.  This style is a natural fit for NoDa living. Done well, Contemporary architecture can be its own work of art!
A great example is the newly built home at 2919 Wesley Avenue. MLS # 867331. This home takes Mid Century Modern and raises the roof – literally.  Ceiling heights soar.  The master bedroom and bath suite is in the tree tops. In the Wesley home each room is designed for comfortable, better living. The bedrooms are angular, not a simple single square, allowing for segmented sleeping and sitting areas in each room.  Closets are large. Stained, glazed concrete floors grace the front porch and the living room. Picture windows are stacked above double hung windows for increased natural light. A Sun Tube illuminates the stairwell.

Helen Adams Realty provides up to date financial information for our investor clients.

We value your opinion and look forward to any comments or requests to enhance our investment category of this blog.

Information concerning real estate investment opportunities from our New Construction Projects will be posted when available.

For information about investment properties please contact us at Helen Adams Realty

CHARLOTTE HOMES Chapel Cove is a Crescent community located on Lake Wylie in Denver, NC.  Custom home sites are available, as well as existing new homes.  Wooded interior and waterfront homesites average about three-quarters of an acre and start in the $90,000s. You can purchase a homesite and build a custom home with one of the community’s Builder Guild members. Exisiting new homes begin in the $700,000 price range.

Chapel Cove was inpired by The Sanctuary, which is another Audobon sanctioned Cresent community on Lake Wylie in South Charlotte.  Enviornmental sensitivity and connection to wildlife is the overall theme of both of these communities.

For more information please contact Helen Adams Realty.

CHARLOTTE HOMES Reflection Pointe is a new gated, wooded, waterfront community on the Belmont, NC side, or western side of Lake Wylie, NC.  Reflection Pointe offers many waterfront and interior homesites for custom built homes.  Several new homes have already been built, and some are currently on the market for sale.  Reflection Point Amenities:

*  French Provincial style clubhouse.

* Lagoon Style swimming pool.

*  Lighted tennis courts, walking trails, a fenced boat storage area and much more.

For more information visit our website at www.helenadamsrealty.com

CHARLOTTE REAL ESTATE Big lake, small towns. Lake Norman was created in 1963 when Duke Power Company dammed the Catawba River to fuel its hydroelectric power plants. The past two decades have seen a development explosion of luxury and middle-class housing for four historic towns – Huntersville, Davidson (home of Davidson College), Mooresville, and Cornelius.

To read more or find out more information visit our website, www.helenadamsrealty.com