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October Real Estate Report

11-13-09
Chuck Webb
Listed below is the residential real estate market summary for the Charlotte area for the period October 6, 2009 through November 5, 2009:

  • Sold: 2,210; avg. LP $218,050; avg. SP $196,204; %LP/SP 90.02%
  • New Listings: 4,863; avg. price $259,794
  • Under Contract: 2,400; avg. price $217,013
  • Withdrawn: 1,899; avg. price $341,375
  • Expired Listings: 1,610; avg. price $343,767
  • Active Listings: 23,850; avg. price $312,647


    • The number of homes sold during the month of October increased 13.4% compared to September and 19.6% above the level of home sales for October a year ago. The average selling price for the month decreased 0.3% from prior month, but was down 9.5% from a year ago. The first time homebuyer tax credit has been effective in stimulating local home sales and the market prices seems to have leveled off for now.

    The average price reduction on home sales for the month of October was 9.8%, compared to 10.5% in September and 8.7% for October a year ago.

    Total inventory of active listings decreased 13.5% for the month compared to September and 16.5% below that of October, 2008. An increase in home sales for the month of 13.4% combined with an increase in withdrawn listings of 23.6% helps to explain the loss of available inventory.

    A reduction in available homes for sale will have an offsetting effect in the “buyer’s market” we have seen over the past several years. This may help to explain the leveling off of home selling prices, and it will be interesting to see how this might effect the overall Charlotte market in the coming months.

    The extension and expansion of the homebuyer tax credit will surely have a positive impact, not only in the starter home segment of the market, but also in the group of homeowners who wish to “move up” to their next home purchase. As this bill takes effect, we may see inventories increase and selling prices continue to stabilize in the Charlotte area.

    Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net
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    $150,000 Price Reduction in Springfield!

    11-11-09
    Chuck Webb

    eg.front

    The best new home value in Springfield is now aggressively priced at $649,900, a $150,000 reduction in the original price. With over 4,300 square feet of living space, there is plenty of room for everyone in this great Evans Coghill home. Located in beautful Springfield, Fort Mill's premier golf community, on a home site that adjoins an undisturbed wooded buffer, you will enjoy the privacy of your rear porch and room in this home.

    Look at the features of this fabulous home:

  • Full unfinished basement
  • 5 roomy bedrooms and 3.5 baths
  • Master Bedroom on the main level
  • Large open kitchen with stainless steel appliances and granite countertops
  • Bright breakfast room or sunroom overlooking wooded backyard
  • Built in cabinetry in Family Room
  • Large formal dining room
  • Cozy library
  • Family Activity Center large enough for a pool table and seating
  • Hardwood flooring throughout living areas
  • 3 car garage

    • Timeless homes and an enduring reputation has made Evans Coghill Homes a preferred builder in some of the Carolinas most successful neighborhood developments, raising the bar for quality construction and proving demand in previously untested markets. Evans Coghill Homes built a reputation for building classically designed homes with traditional elevations. Their homes are especially attractive to buyers who want right-size living. This home is representative of Evans Coghill Homes' commitment to quality construction and customer satisfaction.

    Don't miss this opportunity to live in a highly sought after Fort Mill golf community and enjoy the best schools in the Charlotte metro area.

    Elementary School: Springfield
    Middle School: Springfield
    High School: Nation Ford

    Click Here for a Virtual Tour of this Wonderful Springfield Home.

    Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net

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    Taylor Glenn in Popular Indian Trail

    11-10-09
    Chuck Webb

    taylor glenn

    Taylor Glenn, located in popular Indian Trail, offers a family-oriented environment with lighted streets and sidewalks on both sides of the streets. The neighborhood amenities include two playgrounds, lighted tennis courts, a soccer field, a kiddie pool, and an Olympic size pool with a lifeguard.

    The Taylor Glenn Community has nearly 400 homes which includes a small section of townhomes. The single family detached homes are mostly 2 story with a few ranches and 1/5 story, and range in size from 1800 to 3500 square feet with three to five bedroom floor plans. Pricing ranges from the high $100,000’s to the high $200,000’s and would fit the budget of the first time home buyer or the those wishing to move up in price or location from an existing home.

    Located in the Charlotte metropolitan area, Indian Trail is a growing community that has plenty to offer new and established residents. The city survives and continues to grow because the local government nurtures the manufacturing and retail businesses in the area, as well as the residents, ensuring that everyone's needs are truly met.

    There is plenty to do in and around the area of Indian Trail. Local residents enjoy a host of outdoor activities, such as horseback riding, baseball, soccer, swimming, and other sports and activities. As part of Union County’s continuing growth, the Taylor Glenn Neighborhood is close to shopping, the Levine CPCC Campus, and a short drive from Uptown Charlotte.

    Elementary School: Sun Valley
    Middle School: Sun Valley
    High School: Sun Valley

    Click Here to view available Homes for Sale with area map in Taylor Glenn

    Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net

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    Cardinal Woods in Historic Pineville

    11-09-09
    Chuck Webb

    pineville_historic_downtown

    Just a few miles south of the Charlotte city line in Mecklenburg County you’ll find the charming suburban town of Pineville. Pineville is best known as the birthplace of James Knox Polk, the 11th president of the United States. It also has a significant place in the history of the area and of the local Indians who dwelled here.

    Known for its laid back small town lifestyle and being Charlotte’s closest neighbor, Pineville also offers a mild year-round climate, gorgeous landscape, low crime rate and a flourishing economy. Pineville has a small town feel with a quaint Main Street all its own, and antique and specialty shops with something for everyone.

    cardinal woods

    Pineville is also home to the Cardinal Woods Neighborhood, a community of 187 homes and 9 homes in Cardinal Woods estates. Cardinal Woods is in an ideal location, near Carolina Place Mall, Ballantyne, Carowinds, and a short hop from Uptown Charlotte via I-77 or LYNX light rail system.

    Homes in this wonderful neighborhood range from 1800 to 3000 square feet and are priced from the high $100,000’s to the low $300,000’s.

    Elementary School: Pineville Middle School: Community House High School: South Mecklenburg

    View available Homes for Sale with area maps in Cardinal Woods

    Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net

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    Homebuyer Tax Credit to be Extended and Expanded!

    11-05-09
    Chuck Webb
    Earlier this week, the U.S. Senate unanimously passed an extension and expansion of the homebuyer tax credit. This morning, the House of Representatives approved the agreement reached in the Senate by a vote of 403-12. The bill has now passed both chambers and is awaiting the President’s signature, which could be as early as tomorrow!

    Below is a summary of the new modifications in the extension and expansion of the tax credit:

    1) The $8,000 tax credit will be extended and available for first-time purchases before May 1, 2010.

    2) A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify for this provision, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.

    3) Prospective purchasers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.

    4) Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.

    The time could not be better to buy your first home now that prices and interest rates are still down. Consult your Realtor for more details on how to take advantage of this golden opportunity.

    Chuck Webb, Wilkinson & Associates, www.ChuckWebb.net
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