There has never been a better time to invest in Charlotte, NC real estate. This bustling southeastern metropolis has grown exponentially over the last few years due to an influx of small to midsized tech companies. According to the Bureau of Labor Statistics, the unemployment rate has dropped from 5.4 percent in March of 2015 to 5.1 percent in March of 2016. Both of these factors make Charlotte an attractive place not only for young professionals, but for families of any age.
As Charlotte’s job market grows, the local real estate market continues to improve. A recent study by Trulia showed that nationwide, homes are moving off the market faster than they were a year ago. In Charlotte, 65.2 percent of homes are still on the market after a month. This is significant considering 73.6 percent of homes were still on the market after a month in April of 2015. While the “Costly Coasts” are still very popular places to invest in real estate, the historically slower markets, particularly those in the “bargain belt” are finally heating up, and trade-up homes in both markets have seen the biggest decrease in inventory.
|Top 10 Housing Markets Where Homes Are Coming Off the Market Faster than A Year Ago|
|#||U.S. Metro||% of homes still for sale after one month April 2016||% of homes still for sale after one month April 2015||Percentage Point difference in share still for sale, 2016 vs 2015||Median Home Value, April 2016|
|1||Long Island, NY||76.9%||88.6%||-11.7 points||$409,500|
|2||Colorado Springs, CO||53.2%||62.0%||-8.8 points||$230,000|
|3||Charlotte, NC||65.2%||73.6%||-8.4 points||$166,125|
|4||Louisville, KY||59.5%||67.7%||-8.2 points||$134,900|
|5||Cincinnati, OH||63.1%||70.9%||-7.9 points||$138,500|
|6||Kansas City, MO||59.6%||66.3%||-6.7 points||$144,900|
|7||Chicago, IL||62.5%||69.1%||-6.5 points||$204,000|
|8||Atlanta, GA||65.3%||71.9%||-6.5 points||$169,000|
|9||Cleveland, OH||68.9%||75.4%||-6.5 points||$124,000|
|10||Raleigh, NC||69.6%||67.1%||-6.4 points||$219,900|
|Note: Among the 100 largest U.S. metros. The one month shares and the difference are rounded to the nearest percentage point, and the difference was calculated before rounding; therefore, the rounded difference might not equal the difference between the rounded shares.|
Interested in snagging a piece of desirable Charlotte real estate for yourself, but unsure where to start? There are Charlotte neighborhoods for every age group and budget. Young families will be happy in one of Dilworth’s adorable single family homes.
Young professionals can find a reasonably priced condo in Downtown Charlotte’s Fourth Ward Neighborhood, conveniently located near many businesses, restaurants and nightlife options. Looking for more space? South Charlotte’s many neighborhoods are perfect for large lots and sizable homes. Contact one of On the Move Charlotte’s knowledgeable agents to get started on your home search today!
One thing we love about this time of year are all the retrospectives of the past twelve months.
We thought it’d be fun to map all the homes the On the Move Charlotte team worked so hard together to close this year. Whether we were helping clients buy their first property, sell their home and move to a new community, or even simultaneously do both, we loved working with all our clients in 2015! It sure is rewarding to look at this map – plotted with all the homes we helped you buy and sell this year – and know our team made a difference in people’s lives.
That’s what it’s really all about, isn’t it?
Thinking of buying or selling a home in 2016?
You know where to find us!
In Charlotte, autumn means more than changing leaves and lower temperatures for homeowners — it also means time to check off a variety of home maintenance tasks before winter arrives. Whether you live amongst the tree-lined streets of Dilworth or in a golf community in Southeast Charlotte, the fact is, with winter just around the corner, every good homeowner knows that now is the perfect time to knock out a few important projects, before the temperatures drop enough to make it tougher.
What should you include in your fall home maintenance checklist here in the Queen City? Here is a look:
- Clean the Gutters: The end of fall is the perfect time to clean leaf buildup and other debris out of your gutters, before winter has had a chance to freeze them. Even though Charlotte has fairly mild winters, there is always a chance that the colder months will bring heavy snow or ice, which can potentially pull loose gutters off the house, Take the time now to check all fastenings and make sure your gutters are secure.
- Get a Furnace Inspection: Your heating system is likely to see a lot of use during winter, when daily temperatures average in the 40 degree Fahrenheit range, so make the investment now to keep it running smoothly. “For about $80 to $100, a technician will inspect your furnace or heat pump to make sure the system is clean and in good repair,” notes Kiplinger Magazine. Plus, “if you act soon, you’ll minimize the chance of being 200th in line for repairs on the coldest day of the year.”
- Minimize Air Leaks: When you’ve got the heat cranked high this winter, you don’t want to let warm air leak outside, raising the costs to keep your home warm and wasting energy. That is why today is a good time to check for air leaks and use caulk to seal cracks or weatherstripping to seal windows.
- Get a Chimney Inspection: Planning to use your fireplace or wood stove this winter? Schedule your annual chimney and flue inspection. Whether you want an occasional cozy night by the fire or plan to use your fireplace for emergency heating, an inspection will make sure you’re ready. Likewise, the Centers for Disease Control and Prevention recommends, “if you’ll be using a fireplace, wood stove or kerosene heater, install a smoke detector and a battery-operated carbon monoxide detector near the area to be heated.”
- Seal and Insulate Ducts: Typically located in a home’s attic or basement, air ducts can account for about a 20 percent loss of heating when they aren’t properly sealed and insulated, says Energy.gov. However, “tightly sealed and insulated ducts can potentially reduce your annual energy bills by $120 or more!” That is why taking the time now to get your ducts checked, sealed and insulated is well worth the effort, both for the better heating and cost savings down the road.
- Prep Your Outdoor Spaces: Whether you have a deck, a patio or an outdoor grill, the end of fall is typically a good time to start wrapping furniture, putting away gear and prepping your outdoor spaces for winter. Likewise, shut off your exterior faucets, drain pipes and sprinklers, and remove leaves from your deck to help prevent mildew and mold from forming.
As one season ends, another begins — so get ready for another Charlotte winter by taking preventative steps to prepare your home now, while the weather’s still warm enough to enjoy being outside. Use the ideas above as a home project checklist so that your property will be warm and well-prepared for the colder months.
Article Provided By Sajjan Dhaliwal, the founder of Jas-Am Group. They are a custom luxury homebuilder and remodeler in Charlotte, NC that has been servicing the area and surrounding neighborhoods since 1985.
As brokers it’s easy to get caught up in the excitement of the busy season.
We’re as guilty as anyone of letting agent safety slip when calls start coming in left and right and we’ve got tours lined up back-to-back. Summer, especially, is an easy time to let your guard down and accidentally open yourself up to risks!
Here’s a quick reminder for all you agents (and for sale by owner folks!) to stay safe using some of these easy to remember tips.
1. Never Lead
We’ve all been there. The master bath is to die for and just wait until you see this closet space! But it’s always safest to let the interested buyers/sellers lead the way, particularly in an unfamiliar property. Not only does it ensure we’ve never got our backs turned, it keeps the client up front and excited to lead the tour!
2. Check for Service
Before your open house or property tour starts, check to ensure you’ve got adequate cell service before relying on your phone as a lifeline. Not only do you need service, you need a decent charge so always keep a car charger and a backup battery on you! Remember that your phone’s only useful if you have it handy – and never rely on a tool you’re unfamiliar with (like pepper spray) to keep you safe, either.
3. Don’t Block Yourself In
If you end up in a situation that makes you uncomfortable at a showing or open you’re going to want an easy exit. Don’t allow your car to get blocked in when parking in a driveway, and try to back in if you can for easy egress. Parking on the street may make it easier to get in and out, too.
4. Host Opens Near an Exit
As we always say, encourage your clients to think ahead when holding an open house (hiding their valuables, finding somewhere else for the dog, etc.) so you don’t have to monitor the back recesses of their home. Staying near an exit at an open house not only keeps you safer, it allows you as the broker to keep tabs on who’s coming and going from their home.
5. Safety in Numbers
If you’re ever unsure about your safety, invite another agent to come along. If you’re holding an open house, having a lender on-site is a good way to get safety in numbers while also adding value for potential buyers! Safety in numbers is a real thing and it’s always more fun to have someone else along for the ride.
Being in real estate is very safe. Like any profession, ours has its risks but most of them can be mitigated by being vigilant and thinking ahead! We’re all about safety – for our kids, our clients, and our colleagues.
Now get out there and enjoy this hot selling/buying season in Charlotte!
On the Move Charlotte is hosting two BRAND NEW open houses in Stonehaven this weekend – both homes are fantastic buys and won’t last long! Why is Stonehaven fast becoming one of the most popular neighborhoods in Charlotte?
In two words…why not?
Stonehaven is one of the city’s most established neighborhoods (think: large lots and huge, grown trees!) and it’s located close to everything. Cotswold shopping center, McAlpine Creek Greenway, and the entrance to 485 are just seconds from much of the neighborhood. Homes here are well constructed and you’ll find a wide variety of styles, from brick ranch charmers to two-story siding homes.
But the best thing about Stonehaven if you ask us? It’s the community. Several of us on the On the Move Charlotte team actually live in Stonehaven ourselves and are proud to experience the true “neighborhood” feel day in and day out. There’s an active neighborhood association, various clubs and groups (Bunco! Running clubs! Multi-family yard sales!), and the kids in the neighborhood especially love the two area swim clubs.
Sardis Swim and Racquet Club and Rama Swim and Racquet Club are both easily accessible by Stonehaven residents. This time of year marks their most bustling season – particularly if you have kids on either swim team! These activity clubs are where many Stonehaven residents socialize and meet their neighbors and, we think, one of the biggest draws of the area.
So, if you’re ready to move to a neighborhood in Charlotte that actually feels like a community, give us a call. Or better yet, come visit one of our two fabulous open houses in Stonehaven this weekend – both open Saturday AND Sunday!
Stonehaven Open Houses – June 28th, 2015:
Located on one of the quietest streets in Stonehaven, this home has lots of room to grow. Hardwoods throughout all four bedrooms, heated tile flooring in the master bath, and updated kitchen with quartz countertops. Newer roof, HVAC, and irrigation system mean low-maintenance!
Beautifully renovated home! Amazing gourmet kitchen, brand new flooring throughout much of the home (bathroom tile, bamboo hardwoods, and upstairs carpet), new windows and fresh outside paint! Corner lot with detached garage make this home a must-see.
Y’all, we know. It’s been a rough weather week.
Can you imagine anything more fun than spending the weekend finally finding your dream home? We’ve got you covered! Whether you’ve been looking for a mid-century modern in south Charlotte or a spacious family home in Matthews, your new house may be one of these gems. Come see them for yourself this Saturday and Sunday!
Sunday, March 1st from 1pm – 3pm
This huge Quail Acres home looks brand new and offers tons of recently-renovated room to grow. Situated on almost an acre of land (.82 acres to be exact) near new construction and great schools, this kind of property doesn’t come around often. New flooring throughout, an updated kitchen, and a large mud room are just some of its perks. If you’ve been looking for a big master suite, tons of storage, and a great big backyard, this is your home!
Saturday, February 28th – 1pm – 3pm
– JUST REDUCED! –
This Stonehaven gem has lots of room to spread out and tons of upgrades. Upstairs and downstairs hardwoods, triple-pane windows, and a new HVAC and water heater upstairs mean it’s low maintenance! Gorgeous kitchen with eat-in breakfast area and a generously-sized master with walk-in closet – plus a quiet location in a cul-de-sac…what more could you want?
Saturday, February 28th – 11am – 1pm
Sunday, March 1st – 2pm – 5pm
– NEW TO MARKET! –
Located in Stonehaven, this mid-century modern was architect-design and Thomasson-built. Beautifully maintained: includes everything from gorgeous hardwood floors to Ceasarstone kitchen countertops and a glass refrigerator door! With a half-acre lot and a multi-tiered deck this home is perfect for entertaining. Come see it before it’s gone!
Saturday, February 28th – 2pm – 5pm
– NEW TO MARKET! –
Need space? Here it is! In addition to four nice-sized bedrooms this Matthews home has a bonus room and a second great room for entertaining. Granite, hardwoods, his-and-hers closets, and a butler’s pantry are just a few of the fabulous inside features – but wait til you see this yard! It features a multi-level deck and a koi pond with waterfall feature. See this one to believe it.
Got questions about any of these homes?
Give us a call now!
Did you know that over one billion dollars in office building real estate sales occurred in Charlotte last year?
That’s a nearly 25% increase in sales from the same period the year before (2013.) And it’s not just office buildings in Charlotte that are attracting the attention of big time investors: industrial space, retail space, and apartment buildings are all being snapped up here at a record pace. And that’s great news for your property value if you’re a homeowner!
So, what big sales helped the Queen City hit these record numbers? Let’s take a look.
The Fifth Third Center, an Uptown flagship building, went under contract in mid-July to sell for over $215,000,000. The deal set a new benchmark for per-square-foot office space pricing in Charlotte.
400 South Tryon, one of the…ahem…least attractive buildings in Uptown, sold in October for $61,000,000 to several adviser groups. At the time the building was 96% occupied.
Northlake Mall, one of our favorites in town, sold for a record $248,000,000 in December which marked the largest commercial real estate transaction of the year. The sale was part of an overall $1.7 portfolio building effort by Starwood.
In May, the ever-troubled EpiCentre in Uptown Charlotte sold to a California investment group for an estimated $130,000,000. Since then construction work has started on a new attached hotel property.
The Ally Center office building in Uptown (recognizable by the huge “Ally” lettering across the top) sold to a UK company mid-year for $109,000,000. The building itself only stands 15 stories tall.
Although office buildings hit new records in terms of square footage pricing and big sales, the real winners in the Charlotte market were industrial and retail property owners. Retail sales totals for 2014 jumped to over a billion, up from a little over $500 million in 2013 while industrial properties hit $733 billion, up from $293 billion in 2013.
Overall, Charlotte real estate had a banner year. 2014 real estate totals – including commercial, retail, and residential – hit well over $4.5 billion total, up over a billion from the year before.
What can we say? It’s good to live in a city on the move!