Chuck Webb

Mortgage rates once again surged upwards. The Mortgage Bankers Association's Loan Application survey this week said that demand for home loans in the first week of June fell 7.2% compared to the previous week, as the average rate for a 30-year mortgage shot up 32 basis points to 5.57%. This is only the second consecutive week that average rates have exceeded 5.00%, but already they are at their highest level since November.

With mortgage rates at historic lows in recent months, demand for homes had been increasing and many analysts said there were signs of stabilization in the housing market. Rising interest rates, however, may encourage potential buyers to remain on the sidelines.

The MBA survey also said its Refinance Index fell 11.8% in the week, while the Purchase Index was able to advance 1.1%. Demand for refinance loans has been falling rapidly recently, accounting for just 59.4% of all applications last week, the lowest share of activity since November. In the prior week, 62.4% of all loans were refinance-related.

In the Charlotte area, there is still a great deal of apprehension in the housing market. A tick upward in the interest rate is not what potential homebuyers want to see. However, a sustained trend of low interest rates coupled with a bottom-out of declining home values are what we need to get the housing market back to pre-2006 levels.

AREA 2/4 – KINGSTREE

Just minutes from I-485, next to the Charles T. Meyers public golf course. This 1,300-home master plan community sits beautifully on 300 acres in the East University area of Charlotte. Features include tree-lined backyards and scenic walking paths throughout the community. Centrally located is a family recreation facility with Junior Olympic size pool, cabana, playgrounds, and a community center.

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AREA 2/4 – BRADFIELD FARMS

The community of Bradfield Farms lies 17 miles east of uptown Charlotte in an unincorporated part of Mecklenburg County adjoining Cabarrus County. The main entrance to this neighborhood of nearly 1000 single family homes is on Reedy Creek Road where it crosses Harrisburg Road, next to the I-485 interchange there. Houses were built here between 1989 and 1999 - primarily by Centex Homes, but other quality builders, John Crosland, K. Hovnanian Homes, Torrey Homes, and Fortis Homes, each built a section as well. There are a number of resale houses available from the $130's to the $250's and range from 1400 to over 3000 square feet.

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AREA 2/5 – BERKSHIRE

Gorgeous homes built by America's #1 Homebuilder, DR Horton Homes! Located in the heart of the University Area, Berkshire has easy access to Uptown Charlotte, the Airport, Interstate Access, and has wonderful shopping and restaurants located near by. Berkshire community has 2 available pools as well as a playground area. Berkshire is also located near I-485.

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AREA 2/5 – OLD STONE CROSSING

Old Stone Crossing in the University area of Charlotte is reminiscent of the English countryside. Formerly an old family land preserve, the area is rich in history and within the community 40 acres of natural woodlands retain a distinct deep country atmosphere. The southern end of the 40-acre nature preserve creates a stunning setting for the Old Stone Resident's Club. The masterfully designed pool area cascades down to a peaceful willow park that connects to the preserve. There is 'The Olympic Club' with Jr Olympic pool, tennis courts, volleyball and playground.

Buying a new home in Old Stone Crossing means you'll be close to all the entertainment in Charlotte, plus it's a short drive to Lake Norman. Pro-sports games in uptown Charlotte, NASCAR races at the Lowe's Motor Speedway, or just a night out for shopping and a movie at Concord Mills.

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Beautiful surroundings in an idyllic setting among the rolling hills and towering trees of south Charlotte, NC, Ballantyne Country Club offers the finest in traditional private club amenities and services, as well as an array of features that cater to every member of the family.

The neighborhood has Bike paths, extensive swim and tennis facility, a Family Activities Center and a teen Center. Homes are, to say the least, very spacious and filled with luxury appointments and impeccable yards. The location of the Ballantyne Country Club neighborhood in incredible. You are so close to shopping, schools and highway access. You are also adjacent to the Blakeney Town Center, a 270-acre master-planned development.

Enjoy a classic Charlotte golf club that offers golfers a championship layout within an elegant North Carolina Country Club Community. Design by Rees Jones, the par-72 course offers golfers of all skill levels a fun but fair test. Before and after rounds, the gracious clubhouse offers golfers a quiet haven with its luxury amenities. Ballantyne Country Club's sought-after, south Charlotte location and world-class golf course has led many families to this popular community.

Ballantyne Country Club opened in 1996 and is a Rees Jones design. A family friendly course, you can enjoy play from one of five tee boxes. The club’s practice facility features a driving range with over 20 hitting stations, two practice putting greens, and a short game area with two sand bunkers to help develop your game. The Golf Course has Bermuda Grass Fairways and Bent Grass Greens. The club features two full locker rooms for men and women with lockers, showers, steam rooms, and shoe shine service.

Tennis facilities include lighted clay and hard-surface courts, spectator seating, active calendar of social events for members and a professional staff available for clinics and private instruction.

Ballantyne Country Club has four different swimming pools to choose from: competition-size lap pool, slide pool, complete with a 100-foot-long, figure-eight waterslide, play pool with interactive play equipment, including water jets, a water wheel and other tricks and toys, and a tot pool, complete with a play fountain of arch water jets. 

Neighborhood Statistics:

Elementary School: Ballantyne
Middle School: Community House
High School: Ardrey Kell

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Known for both its history and new development, Dilworth started as the city's first streetcar suburb and today is one of its most vibrant neighborhoods. Located southwest of the original city limit, Dilworth is east of South Boulevard, from Morehead Street to Ideal Way. It's also adjacent to SouthEnd and numerous transit stops along the light-rail corridor.

The city's first streetcar suburb was named for Edward Dilworth Latta, who came to Charlotte to establish a men's clothing store. Later, he led local businessmen in assembling the land for Dilworth and extending the electric streetcar to the countryside. Along with the launch of Dilworth in May 1891, the businessmen also opened Latta Park, a 90-acre amusement park.

It was Latta's wife, Harriet, who suggested the names for the early streets, including Lennox, Myrtle, Euclid and Worthington, which are still part of Dilworth today. Lot prices on opening day ranged from $350 to $500. With the opening of the Atherton Cotton Mill in 1892, many of the new suburban homeowners were part of Dilworth's mill village. Churches, businesses and schools were built to keep up with the growing population, and within two decades Dilworth was a mix of mansions, mill houses and middleclass homes.

Currently, Dilworth has 100 listings in Areas 5 and 6. Nine homes were priced at more than $1 million, and five of those are more than 50 years old. Several two-bedroom houses with less than 1,000 square feet started at $225,000. Valuations have doubled and tripled in the past 15 years on some homes, although the recent recession has leveled the trend somewhat.

East Boulevard is the main thoroughfare in Dilworth, with some 20 restaurants in the neighborhood. Dilworth also has convenient access to Uptown, SouthPark, the Light Rail, and the airport. Freedom Park, the Greek Orthodox Church and Carolinas Medical Center also are key landmarks in the Dilworth area.

St. Patrick Elementary School and the performing arts magnet program at Dilworth Elementary are also attractive to parents of school-age children. Currently neighborhood assignments schools are Eastover Elementary, Alexander Graham Middle School and Myers Park High School.

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Hunter Oaks, a very popular swim/tennis community in Waxhaw, is located within the growing Rea Road area of western Union County. At Hunter Oaks, the quality of life is bigger and better because of all the little things that matter most: beautiful, countryside setting; junior Olympic pool and clubhouse; lighted tennis courts; and nature trails. The neighborhood also features a playground for the kids, a wonderful fish pond, and sidewalks that tie the whole community together.

Homes in Hunter Oaks are built by Shea Homes, Orleans Home Builders and Ryan Homes. Home prices range from the mid-to-high $200s to the high $400s and sizes from 2200 to 4200 square feet. Hunter Oaks is conveniently located to Ballantyne, Stonecrest, and the SouthPark area of Charlotte. Residents enjoy everything from fine dining to upscale shopping and recreation.

Easy access to I-485, I-77 and Pineville Matthews Road (Hwy-51) makes for an easy commute to South Park, Pineville, Marvin, Weddington, Lake Wylie, and Uptown Charlotte.

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