New Homes in Charlotte

Top ten markets to sell a home in

2008-11-11T12:05:00.000-08:00

Forbes has just ranked Matthews, NC #7 on their list of the top 10 markets in the country to sell a home. Matthews is a suburb of Charlotte, NC, in the county of Mecklenburg. This new statistic speaks directly to the health of longevity of the Charlotte real estate and new homes market.

Undoubtedly the most significant aspect to the high ranking is the lack of fear in the greater Charlotte region. Home buyers and sellers are not letting the negative talk affect their decisions. This collective optimism is perhaps one of Charlotte's most attractive attributes.

New Home Sales are on the rise!

2008-10-28T12:04:00.000-07:00

The following is a headline report from Yahoo financial. It seems that new homes have finally reached a bottom. With the combination of prices at all time lows and rising, along with historically low interest rates, it seems that now is the smartest time to buy. Most likely, however, new home sales and prices will continue to bounce along their bottoms for the next few months, but based on this new data, it seems that real estate is not going down any futher!

US new home sales showed a modest 2.7 percent rebound in September, helped by falling prices, government data showed Monday. Sales of new one-family houses rose to an annualized pace of 464,000, above market expectations of 458,000. Despite the monthly gain, new home sales were still down 33.1 percent from a year ago, reflecting the unprecedented meltdown in the US property market after a years-long boom. The median sales price of new houses was 218,400 dollars, compared to 221,900 a month earlier. The inventory of unsold homes fell slightly to 394,000, a supply of 10.4 months at the current sales rate. Because the meltdown in housing has mushroomed into a wide financial crisis, Joel Naroff of Naroff Economic Advisors said the report was positive news. "Despite the fact that builders are moving very few new homes, the slight rise in sales holds out hope that the bottom has been reached," Naroff said. "Eventually, financial institutions will decide that it makes sense to make loans again. Once mortgage money becomes more available and with home prices reasonable, I wouldn't be surprised to see a solid rebound in housing demand." Economist Patrick Newport at IHS Global Insight said the drop in inventories was a "positive detail" in the report, but that the data probably only partly reflected the financial market turmoil since mid-September. "Going forward, sales will continue to drop because of falling house prices for existing homes, tighter credit, and a deteriorating economy," Newport said.
http://news.yahoo.com/s/afp/20081027/ts_alt_afp/useconomypropertysales_081027174852

What financial crisis?

2008-09-26T11:28:00.001-07:00

Everyone these days has heard about what has been happening on Wall Street and in the real estate markets. Many home builders have been following the “crisis” and abandoning their neighborhoods and markets. In the face of these fears and doubts, Brentwood Homes is standing strong. We have always strived to be a cut above everyone else. While others may have been after the quick profits, we have worked hard for lasting quality and personal relationships. This perspective, along with the fact that we own our own mortgage company, has allowed us to not only stand strong in the current economy, but also maintain our incredible growth.

Brentwood homes is about to launch 3 new communities in Charleston and 4 new communities in Charlotte. We have even stepped in to buy the lots that other home builders are abandoning, effectively saving the value for the rest of the surrounding areas. Here at Brentwood Homes, reputation is our focus and quality is our product. The American Dream is alive and well, come make it a reality today!

New Home Growth is booming in North-East Charlotte

2008-09-23T11:40:00.000-07:00

City limits and county lines no longer define the area known as University City and northeast Charlotte. Charlotte, Concord, Harrisburg and Huntersville have become interconnected, with residents crossing borders for work and fun. University City, centered around UNC Charlotte, has become a bustling residential and employment center, home to more than 65,000 jobs. The population, which continues to increase rapidly, is expected to reach nearly 162,000 by 2010, up from 100,000 in 2000.The annual median household income for the area is $71,415, greater than the median incomes for Mecklenburg or Cabarrus counties.

Home building in this area of Charlotte is also on the rise as this area continues to strengthen the real estate market. Some of the major new home builders are being pushed out due to the economy and lack of financing, but more local builders, such as Brentwood Homes, are stepping up and showing powerful growth in the Carolina's, due to their reputation and availability of privite financing.

Cabarrus County is one of the state's fastest-growing counties, largely because of its proximity to major highways, including Interstates 85 and 485.
This year the area is coping with the planned closure of Philip Morris' cigarette plant on U.S. 29 and the subsequent loss of about 2,500 jobs. But the area has rebounded before -- after major manufacturer Pillowtex shut its Kannapolis plant. Now the North Carolina Research Campus is under way, and the nearby Cannon Village in Kannapolis remains a popular furniture-shopping destination.
The county seat of Concord is known for the Victorian homes in its historic district along Union Street. Concord Mills mega-mall, with a Bass Pro Shops and Off 5th Saks Fifth Avenue outlet, is a popular destination for Cabarrus and Mecklenburg residents.
Lowe's Motor Speedway is the obvious NASCAR destination in Concord, but it's not the only one. Small museums on U.S. 29 and Speedway Boulevard also draw plenty of visitors.
Don't miss: Reed Gold Mine State Historic Site, where the first discovery of gold in the United States was made (www.reedmine.com); and downtown Concord's Cabarrus Creamery on Union Street South, with up to 25 ice cream flavors.
Harrisburg
This town of about 5,000 shares a border with University City and has become a popular July Fourth destination.

http://legacy.charlotteobserver.com/634/story/293928.html

Charlotte companies are proactive, applying what can be learned from the real estate bubble

2008-09-19T13:20:00.000-07:00

One of the main reasons that Charlotte continues to grow, even in our current economic downturn, is the local intelligence of our companies. The real estate bubble has taught us a great deal, even though many around the country have not changed a thing.

The debt crisis that claimed Lehman Brothers Holdings Inc. and threatens American International Group Inc. has forced even non-financial Charlotte companies to play defense.

Local telecom FairPoint Communications Inc. has borrowed $200 million months ahead of schedule to make sure the money would be available.

Cogdell Spencer Inc., which develops and owns medical office space, sold stock to pay down debt and raise working capital.

Neither company faces any crisis themselves. But both have taken measures to avoid issues in what is clearly a dicey credit market. *

New Home construction in Charlotte has dramatically slowed, and at the same time people continue to migrate here, causing an overall reduced new home inventory.

Both real estate and non real estate industries in Charlotte are taking powerful steps to stay profitable and continue to grow. This city certainly has a very bright future!

* information gathered from http://www.bizjournals.com/charlotte/stories/2008/09/22/story12.html

Bank of America's aquisition looks good for real estate in the carolinas

2008-09-15T11:00:00.000-07:00

Bank of America's decision last night to purchase Merrill Lynch is just another step toward one of the most powerful companies in the world. Considering that this bank is headquartered in Charlotte, N.C., it is very exciting to think what the future holds for this area. Even in the face of the subprime crisis and layoffs by the major banks in Charlotte, this area has retained real estate prices to an incredible degree. New Home starts continue to flow and existing price remain steady. The country will soon see that the Carolina's is an extremely resistant area and equally desirable place to live. We have become the banking capitol of the south, we have some of the best universities in the south, our medical, research, and retail industries are growing at substantial paces The effect all these positive factors will continue to have on real estate and especially new home prices will be overwhelmingly positive. The future is certainly looking bright for the Carolinas!

Charleston SC New Construction: Limehouse Village - New Home Community Summerville SC

2008-09-12T10:18:00.000-07:00

A great blog page for new homes in Charleston!

Charlotte Real Estate Trends

2008-09-12T06:49:00.000-07:00

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 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 condos or townhomes, 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 townhomes 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 may still find some bargains in new construction and former apartments that were converted to condos years ago.*

Data gathered from http://joansellsthecarolinas.com