Archive for September, 2011
Charlotte NC Real Estate and Homes for Sale
Posted by este in Real Estate on September 27, 2011
Charlotte, commonly known as the Queen City of the South is nestled in the western Piedmont, or foothills of North Carolina. Charlotte and its resident county are named in honor of the German Princess Charlotte of Mecklenburg, who had become queen consort of British King George III the year before the city’s founding. It is the largest city in the State of North Carolina with a population of about 756,000 as per US census bureau, making it the 18th largest city in America.
Charlotte is in Mecklenburg county and bordered by Cabarrus, Union, Gaston, Lancaster SC and York SC Counties. Charlotte is conveniently intersected by Interstate 85 and 77 providing easy access to travelers. Charlotte has the busiest US Airways hub and is the 8th largest airport in the nation, and ninth in the world with daily flights to most parts of the country as well as international flights to various continents.
Charlotte is the second banking center in America after New York with two of the largest banks in the nation-Bank of America, and Wells Fargo. The city is home to some of the fortune 500 companies like Family Dollar, Goodrich Corporation, SPX, Lowe’s, Duke Energy, Nucor, Sonic Automative, as well as the two big Banks.
Charlotte offers the best mix of a burgeoning city: vitality, opportunity and livability. It’s a region steeped in history and tradition yet young and exuberant, open to change, accepts and embraces newcomers with warmth southern hospitality and its temperate comfortable climate.
Whether you’re relocating to Charlotte or any of our neighboring counties, you’ll find there is a lot to like about this region. Charlotte’s tremendous growth rate is reflected in the housing market which has been steadily growing for years, and yet still affordable compared to other housing markets in the nation. The city offers an array of homes from cozy bungalows, modest ranch houses or two-story Georgians, to custom-built mansions, ginger-breaded Victorians or contemporary condos, both existing and new construction, giving people a large varieties of homes to suit the most discriminating buyer. The same variety abounds in residential lifestyle from Uptown living or suburban locations, to comfortable old towns or new-home communities, urban homesteading and prime Piedmont countryside.
The charlotte real estate region is a collection of towns and neighborhoods, including lakefront living that comes with its own unique personality and home styles. Nearby cities and small towns include Concord, Belmont, Mt. Holly, Matthews, Indian Trail, Fort Mill SC, Monroe, Pineville, Lake Wylie, Waxhaw, Mint Hill, Stallings, Huntersville, Wesley Chapel, Weddington, Rock Hill SC, and Lake Norman.
Charlotte North Carolina Real Estate is a great investment opportunity for future appreciation especially in the current market. With it’s tremendous growth trends, buying real estate in the Charlotte North Carolina area would be a smart decision! Charlotte Homes are priced well below the national average. You get more house for the money than in other fast growing cities.
Luxury Homes are located in North and South of I- 485 corridor. Beautiful luxury communities include Ballantyne Country Club, Providence plantation, Piper Glen, Dilworth, Myers Park, Providence country club, Skybrook just to name a few. You will find awesome schools and low property taxes in the fast growing Union County area! Some of the top Luxury Home Communities in Union County are Providence Downs South, Providence Downs, Longview, Kingsmeade, Stratford on Providence, Highgate, Firethorne, Chatelaine, Skycroft, Sedgefield, & Wyndham Hall and many more.
Lake Wylie area features elaborate waterfront luxury homes in gated communities such as Reflection Pointe, Woodland Bay, Misty Waters, Handsmill, River Hills, The Sanctuary and The Palisades.
Lake Norman offers many beautiful lakefront scenery in many high end residential communities on the lake such as The Point, The Peninsula, Sailview, The Farms, Skybrook, Birkdale and many more.
Like anything else, real estate prices in the charlotte region is a function of demand and supply. While new construction is the traditional driver of supply in real estate, foreclosures now have a strong impact on inventories in the Charlotte region. Rising inventories, through construction or foreclosure, place downward pressure on the median home prices, a great opportunity for buyers.
Charlotte NC Attractions, Businesses, Events and Sports
Charlotte Nc is one of the top relocation destinations in the country. Charlotte region offers lots of attractions, businesses, sports, and events in the area. Charlotte has The Billy Graham Library, US National Whitewater Center, Charlotte Motor Speedway, Bank of America Stadium, Nascar Hall of Fame, Carowinds, Discovery Place, North lake Mall, Carolina Place Mall, South Park Mall, Mega Churches, All Faith worhship places, hundreds of outlet stores, upscale shops, dining, museums, parks, Golf Courses and more.
New Hot Trend in Real Estate: Commercial Real Estate Investing
Posted by este in Commercial Property, Real Estate on September 23, 2011
Real estate is an ever-changing and multifaceted investment medium. The same investment strategies, such as short sales, REO or buying notes, gain and lose position in the same manner that stocks or bonds gain or lose their position. For this reason as an investor, we cannot remain stable and radicated in only one investment strategy, but move with the economic trends and demands.
While short sales and REO are still powerful and very viable niches, even though we have seen confusion and reorganization with the different lenders lately, and patience is the name of the game, commercial real estate investing has been gaining attention and it is going to be even a more popular way of investing in the upcoming year.
For several investors commercial investing has seemed as a way of investing out of reach or as a later goal, but actually it is becoming more achievable and lucrative for even the small investor than residential, especially for apartment buildings, which are preferred by lenders over other types of commercial investments.
There are some misconceptions that should be addressed:
- Financing is difficult -nowadays, it seems easier to get financing on a commercial project than a residential investment. Lenders look at the property performance and give less importance to the buyer’s credit: buyer’s credit can be in the lower 500s.
- Large down payment is required -if the lender is a JV partner, financing is usually 100% of the purchase price. Also sellers are motivated in carrying second mortgages and lenders still allow second mortgage financing and other selling incentives as part of the deal structuring.
- Management is difficult – for larger apartment buildings, most managers live onsite and are dedicated to the management of only that specific property. Therefore there is a better control of the situation.
Also other important considerations are:
- Vacancies are low and getting lower -with the housing crisis and displaced homeowners (because of foreclosure or loss of job) there is a high demand for temporary housing (rent versus buying) and it is going to increase in the next year.
- Long term wealth -immediate cash flow and great appreciation potential in the next 5 to 10 years.
- Tax breaks and incentives
- Critical mass principle -more units and more income streams lessen the risk
As stated in a Special online Report from the National Real Estate Investor Association (NREI), “55% of all respondents to a survey conducted by NREI and Marcus and Millichap Real Estate Investment Services believe that now is the time to buy apartments, followed by retail (32%)…. Apartment owners are also bullish on rents, with 41% expecting that rents will increase in the next 12 months.”
In light of the facts and latest trends, as an investor always looking for the best way to capitalize, try to look into commercial real estate and at least add it as an option to your investment strategy.
Real Estate – Change in Value?
Posted by este in Real Estate on September 19, 2011
During 2009 and 2010 to date, much has been spoken about the national and international influences and their effect upon the residential real estate market in Auckland.
Everyone from those who live in rental accommodation, to home owners, to those specialising in property investment, have a view and are quick to express those views.
One thing I believe we need to make quite clear from the outset is that there is no such thing as a unified, Auckland real estate market.
Auckland has always been an amalgam of villages and towns which have grown into one urban mass. Each separate portion has its own trends, influences and unique features. It is dangerous to attempt to draw any commonalities other than the very broadest of trends.
In looking at Real Estate in Auckland, it is probably more useful to define 3 or 4 strata levels based on value, rather than on a geographic basis.
For the purpose of this article, lets define the residential market into 3 broad brands, bottom end (by value), mid range, and top end.
This simple classification works for all property, regardless of whether free standing homes, apartments or townhouses.
Where one classification ends and the other starts, is relatively immaterial.
Over the past 18 months, we have seen the lower end of the market fall substantially in value as those on wages struggle to survive the economic malaise, and those who purchased, believing that the road to riches was paved by ever increasing property values have had their confidence badly shaken.
When someone bails out of a property, selling at below purchase price, all values suffer.
Those investors who drove prices up, caused the market to fall once they lost their nerve, or when they were unable to prop up 100% mortgages.
At the top end of the Auckland Real Estate market properties virtually ceased to change hands for a period, simply because those who are able to afford to purchase into that bracket, also have the financial stability to sit and hold, waiting till the market picks up before trading.
It is therefore very difficult to build a substantial case to say there has been a change in value.
At the time of writing (September 2010) there is substantial evidence to suggest that there is a significant trend towards those able to purchase into the top end, regaining confidence and properties are trading in greater numbers and at higher value levels than a few years ago.
In the middle, as one may expect, there is a mix of sales (albeit at reduced numbers) at levels both above and below previous years.
If there is a trend in this residential real estate in Auckland market it is that people have been willing to compete and pay handsomely for “good” properties whilst discounting in value any which are problematic – whether by design, location or construction materials; makes sense really!