2011 Real Estate Forecast Event for Charlotte

image link is broken
Posted By Scott Farrell on October 26th, 2010
In Charlotte Homes,Charlotte Market Data,Charlotte Real Estate

Helen Adams Realty presented it 2011 Real Estate Forecast Event for the Charlotte North Carolina Metropolitan area this past Wednesday night at the Charlotte Country Club.  In talking with estimated audience of 300, all said it was a very informative and a great event.  The presentation started with Bob Morgan of the Charlotte Chamber of Commerce giving a detailed presentation on the Charlotte Economic Outlook.

Bob Morgan of the Charlotte Chamber of Commerce Presenting at the Helen Adams Realty 2011 Real Estate Forecast event.

Bob Morgan of the Charlotte Chamber of Commerce

Bob detailed  Charlotte’s growth and how we stand in comparison to other cities for future growth. Charlotte continues to be one of the nations fastest growing regions by adding 59,000 new reside. By 2030 the Charlotte Metro area (MSA) is estimated to 4.8 million people.  That is larger than Boston or Seattle today and nearing the size of Atlanta.

Other key points of Bob Morgan’s Presentation are:

  • Charlotte Job Growth. We currently have just over 40,000 businesses in the region.  That number will expand significantly to 142,000 businesses by 2030.
  • The greater Charlotte Metro area continues to attract businesses.  Both Foreign investment and internal US transfers.  The Charlotte MSA has 850 foreign owned firms in the area and that number is expected to continue to grow as our population and infrastructure do.
  • Companies like Electrolux, Husqvarna and Siemens have all relocated to Charlotte from around the country. In 2008 and 2009 2366 new and expanded companies brought 27,707 new jobs to the Charlotte MSA.

For more on Bob Morgan’s briefing please visit our website.

Jeff Adams President and CEO of Helen Adams Realty at the 2011 Charlotte Real Estate Forecast Event

Jeff Adams, President and CEO

Bob Morgan was followed Jeff Adams, President and CEO of Helen Adams Realty giving a deep statistical analysis of the national and Charlotte Metro area housing market.  Jeff Adams started off with some very inaccurate quotes of housing experts given in 2006 and 2007 benchmarking the difficulties in forecasting housing trends.  Detailing the direct impact on the housing market the formation of new households or the lack there of and population growth from one region to another and how this relates to the Charlotte Metro area.  Jeff went into explaining risk factors for housing prices followed by detailed breakdown of the greater Charlotte Market.  In summary Jeff Adams expects to see a 1.7% increase in the number of homes sold and a 1% increase in the average home price.  As with all housing statistics hyperlocal markets will vary in both number of sales and average home prices.  Major trends that will continue to impact the Charlotte housing market in 2011 and for years to come is the growth in population, Charlotte’s improvement in infrastructure such as the expansion of Charlotte Douglas Airport ( a major hub for US Airways) and continual growth in higher education.  The growth in human capital is Charlotte’s most valuable asset.

Please visit our website for the full presentation.

Foreclosures: A Great Investment or a Disaster?

image link is broken
Posted By Debe Maxwell on October 18th, 2010
In Charlotte Homes,Charlotte Real Estate,Money Rates and Investing

Are you leaning towards stepping into the investment market?   You may get the idea that buying a foreclosure is your best bet for a great deal on a home.  Well, it’s possible, but remember that the foreclosure market is full of perilous pathways and competitive investment pros who know what they’re doing.
House picture on Foreclosure investement ariticle
Whether you’re considering purchasing foreclosures as an investment or as your personal residence, here are a few tips that will help you get you started on a great investment and likely help you avoid a disaster.

Seek professionals to assist you: Your team of professionals should include a real estate agent, a home inspector, a contractor and an appraiser.   You often have to be ready to move on a foreclosure home immediately, so establishing relationships as well as setting a plan of action with these professionals ahead of time, is a must.

Set your sights on a short sale (pre-foreclosure): Short sales offer some of the best deals.  The seller is likely to be more willing to accommodate you because they are striving to avoid ruining their credit.  This means you’ll have a much better chance of getting a great deal – something more than the seller owes the bank, but oftentimes less than market value.  As well, the seller may still be in the home to assist with repairs and in general, these homes are in far better condition than other distressed properties.

Forget the auction: While going to foreclosure auctions is certainly another avenue that investors may take, it definitely is not for the beginning investor.  You may find that you’ve done a lot of research and invested a lot of your time for nothing, because the auction was cancelled.  You may ultimately wind up with a property that has been trashed because the previous owners didn’t want to move, or because the house has been empty for a very long time.

Be very careful buying bank-owned properties: This option is seldom as great as it sounds.  Not all banks price homes at fair market value.  Many of them are trying to get their hefty legal fees as well as their lost loan amounts back.  With depreciation over the time of the process, paired with decreasing market values locally, the price can be much more than the home is currently worth.  Pair this with the speed in which you may have to move, giving little time to perform your due diligence, and also considering the condition of the property, these homes are not all they’re cracked up to be.

If you’re considering buying distressed properties in Charlotte as an investor or a homebuyer, I can help.  Call me or email me for more information.

Saint Michaels Subdivision

image link is broken
Posted By Curt Seifart on October 8th, 2010
In Neighborhood News

An enclave of only 36 homes, Saint Michaels neighborhood offers superb in-town convenience. Tucked behind a brick privacy wall at the intersection of Randolph and Sardis Roads, many pass by without seeing this collection of beautiful custom homes, built between 1992 and 2002. The architectural styles vary among the mostly Georgian brick exteriors.  The average sized home runs approximately 3150 square feet of heated living space, typically 4 bedrooms.  The highest recorded sale is $550,000, with an historical average of around $460,000.

5343 Haynes Hall Charlotte NC Front view of home

5343 Haynes Hall Charlotte NC Front view of home

One distinct characteristic is the typically beautiful low maintenance landscaping of the small front lots plus the expertly maintained common areas, supported by very affordable quarterly dues.  The lot sizes are compact, so lawn maintenance is very minimal. Many of the homes have quaint “town gardens”. This feature, plus the closeness to Phillips Place, South Park, and a quick commute to Carolinas Medical and Presbyterian Hospitals, endear Saint Michaels to buyers wanting to simplify their lives.  Saint Michaels offers a great close-in custom home alternative to condo living!
Homes in Saint Michaels do not come on the market often.  Currently, there are two active listings:
5343 Haynes Hall Place $450,000. Features include 5 bedrooms, with master suite on the main.

Click here to see a virtual tour.

5705 Randolph Rd $430,000. Features 3 bedrooms, with master on the main.

The Renaissance Festival is back

image link is broken
Posted By Scott Farrell on October 2nd, 2010
In Charlotte Cultural events,Things to do in Charlotte

It is time for one of the Charlotte Metro areas (and mine) favorite festivals.  The Renaissance Festival is a 16th century European style art and entertainment festival combining outdoor theater, circus entertainment, arts and crafts marketplace, a jousting tournament, all kinds of food purveyors. The festival is open weekends only starting October 9th to November 21st, 2010.  the festival is located near the corner of Hwy 73 and Poplar Tent Road in Concord. Directions are located on their website.The renaissance festival for the carolinas located near the charlotte metro area in Concord NC

The Carolina Renaissance Festival was introduced in 1994 with six acres of exhibits, attractions and entertainment. The event has grown into a twenty acre theme park filled with charming cottages and castles, kitchens and pubs, and a most unusual collection of people powered rides and games of skill.

For more information please visit their website.