Gabriel Libutti

Home prices gain for 3rd straight month Case-Shiller index shows 1.6% gain in July, a sign that recovery may be in motion. Climbing in July Price trends improved for all 20 cities in the S&P/Case-Shiller Home Price index. City Year-over-year change Change from June Minneapolis -17.3% 4.6% San Francisco -17.9% 3.3% Chicago -14.2% 2.7% San Diego -12.3% 2.5% Atlanta -11.8% 2.3% Washington, D.C. -9.8% 1.8% Los Angeles -14.9% 1.8% Phoenix -28.5% 1.8% Cleveland -1.3% 1.5% Denver -2.9% 1.5% Tampa -18.4% 1.4% Miami -21.2% 1.3% Dallas -1.2% 1.2% Boston -4.9% 1.2% Portland -13.9% 1.1% Detroit -24.6% 1.1% New York -10.3% 0.8% Charlotte -9.0% 0.6% Seattle -15.3% -0.1% Las Vegas -31.4% -1.1% 20-City composite -13.3% 1.6% 10-City composite -12.8% 1.7% NEW YORK (CNNMoney.com) -- There was another tick-up in home prices in July, a further indication that housing markets may be stabilizing, according to a report issued Tuesday. Prices for the S&P Case-Shiller Home Price index of 20 cities rose 1.6% from a month earlier, the third consecutive month of gains. They went up 1.4% in June. Prices were still down 13.3% compared with July 2008, but even that performance was better than expected. A panel of industry experts surveyed by Briefing.com had forecast a 14.2% loss. "The rate of annual decline in home price values continues to decelerate and we now seem to be witnessing some sustained monthly increases across many of the markets" said David Blitzer, chairman of the Index Committee at Standard & Poor's. Craig Thomas, a senior economist with PNC Financial Services Group, called the report very encouraging. "The rule of thumb is that three observations is a trend," he said. "There have been three straight good reports, so, this is a trend." The home-price gains also confirmed other positive recent housing reports such as lower inventories and more traffic being reported by home builders, according to Thomas. Trends in other economic indicators, such as job losses and retail sales have also improved lately. A pattern is developing, according to Lawrence Yun, chief economist for the National Association of Realtors (NAR), one in which stabilizing prices could contribute to a self-sustaining recovery. "When prices are falling, consumers ask themselves, 'Why buy now when I can buy later for less,'" he said, adding that rising prices are a strong incentive to act more quickly. Minneapolis' gain: Among the 20 cities, Minneapolis recorded the biggest gain during July; with prices up 4.6%. San Francisco, up 3.3%, and Chicago, 2.7% higher, also recorded sizable gains. The only price declines occurred in Las Vegas, where they fell 1.1%, and Seattle, down 0.1%. Las Vegas has become the city hardest hit by foreclosures, which remain one of the big issues facing housing markets. Yun points out that there will be another foreclosure spike over the next six to 12 months as the terms of option ARMs and interest-only mortgages reset, raising monthly payments for many borrowers and pushing some into delinquency. Foreclosed homes will continue to come back onto the market, padding supplies and dampening prices. The other major uncertainty is over the first time homebuyers' tax credit that currently gives back up to $8,000 to taxpayers who buy before Dec. 1 and who have not owned a home within the past three years. Yun credits the tax credit with being a major market stimulus. NAR estimated that an extra 350,000 homes will be sold because of it. There are bills in Congress that would extend the program and even expand it to every home buyer. If none of these are enacted, the market could suffer a reversal. There will be a clear-cut market recovery because of buyer interest tied to that stimulus, according to Yun, and if the tax credit is allowed to lapse, we could be looking at another bottom coming our way. The Case-Shiller index compares the sale price of a home to its price the last time it was sold, then factors in changes in prices over time. That, ideally, yields a more accurate picture of home price fluctuations than simply calculating the median or average prices of all homes sold during the month. Those averages can be skewed by changes in the mix of homes sold during any one period.

Home prices gain for 3rd straight month Case-Shiller index shows 1.6% gain in July, a sign that recovery may be in motion. Climbing in July Price trends improved for all 20 cities in the S&P/Case-Shiller Home Price index. City Year-over-year change Change from June Minneapolis -17.3% 4.6% San Francisco -17.9% 3.3% Chicago -14.2% 2.7% San Diego -12.3% 2.5% Atlanta -11.8% 2.3% Washington, D.C. -9.8% 1.8% Los Angeles -14.9% 1.8% Phoenix -28.5% 1.8% Cleveland -1.3% 1.5% Denver -2.9% 1.5% Tampa -18.4% 1.4% Miami -21.2% 1.3% Dallas -1.2% 1.2% Boston -4.9% 1.2% Portland -13.9% 1.1% Detroit -24.6% 1.1% New York -10.3% 0.8% Charlotte -9.0% 0.6% Seattle -15.3% -0.1% Las Vegas -31.4% -1.1% 20-City composite -13.3% 1.6% 10-City composite -12.8% 1.7% NEW YORK (CNNMoney.com) -- There was another tick-up in home prices in July, a further indication that housing markets may be stabilizing, according to a report issued Tuesday. Prices for the S&P Case-Shiller Home Price index of 20 cities rose 1.6% from a month earlier, the third consecutive month of gains. They went up 1.4% in June. Prices were still down 13.3% compared with July 2008, but even that performance was better than expected. A panel of industry experts surveyed by Briefing.com had forecast a 14.2% loss. "The rate of annual decline in home price values continues to decelerate and we now seem to be witnessing some sustained monthly increases across many of the markets" said David Blitzer, chairman of the Index Committee at Standard & Poor's. Craig Thomas, a senior economist with PNC Financial Services Group, called the report very encouraging. "The rule of thumb is that three observations is a trend," he said. "There have been three straight good reports, so, this is a trend." The home-price gains also confirmed other positive recent housing reports such as lower inventories and more traffic being reported by home builders, according to Thomas. Trends in other economic indicators, such as job losses and retail sales have also improved lately. A pattern is developing, according to Lawrence Yun, chief economist for the National Association of Realtors (NAR), one in which stabilizing prices could contribute to a self-sustaining recovery. "When prices are falling, consumers ask themselves, 'Why buy now when I can buy later for less,'" he said, adding that rising prices are a strong incentive to act more quickly. Minneapolis' gain: Among the 20 cities, Minneapolis recorded the biggest gain during July; with prices up 4.6%. San Francisco, up 3.3%, and Chicago, 2.7% higher, also recorded sizable gains. The only price declines occurred in Las Vegas, where they fell 1.1%, and Seattle, down 0.1%. Las Vegas has become the city hardest hit by foreclosures, which remain one of the big issues facing housing markets. Yun points out that there will be another foreclosure spike over the next six to 12 months as the terms of option ARMs and interest-only mortgages reset, raising monthly payments for many borrowers and pushing some into delinquency. Foreclosed homes will continue to come back onto the market, padding supplies and dampening prices. The other major uncertainty is over the first time homebuyers' tax credit that currently gives back up to $8,000 to taxpayers who buy before Dec. 1 and who have not owned a home within the past three years. Yun credits the tax credit with being a major market stimulus. NAR estimated that an extra 350,000 homes will be sold because of it. There are bills in Congress that would extend the program and even expand it to every home buyer. If none of these are enacted, the market could suffer a reversal. There will be a clear-cut market recovery because of buyer interest tied to that stimulus, according to Yun, and if the tax credit is allowed to lapse, we could be looking at another bottom coming our way. The Case-Shiller index compares the sale price of a home to its price the last time it was sold, then factors in changes in prices over time. That, ideally, yields a more accurate picture of home price fluctuations than simply calculating the median or average prices of all homes sold during the month. Those averages can be skewed by changes in the mix of homes sold during any one period.

Homes: Sell at a loss, buy at a discount Jennifer Galdes wants to buy a home in a better neighborhood, but is now the right time? The month Jennifer Galdes moved into her condo in the Albany Park section of Chicago, the local paper suggested that the area was up and coming. Six years later, she's still waiting for a Whole Foods. Galdes, a self-employed publicist, longs to trade up to a similar-size (2,000-square-foot) apartment in a tonier neighborhood. With area condo prices down 16% since their peak, according to S&P/Case-Shiller, she sees her chance. The catch: She'll have to unload her current place first. So is now really the right time to make this move, she wonders? Wheaton, Ill., financial planner Kristopher Johnson says yes. Galdes, 43, may have to sell her condo -- bought in 2003 for $287,000 -- for less than she'd hoped. But the discount on a better place will more than offset the reduction on hers. And she'll net $86,000 after closing even if she breaks even. Still, she's got to be strategic in selling and buying. The solution 1. Nail down a value. Galdes should talk to agents to get an idea of what her place might sell for. If that price is acceptable to her, she should list it ASAP, as she may need six months to sell, says local realtor David Hanna. (And she should sell before buying, Johnson adds.) 2. Set a budget. Because Galdes is debt-averse, Johnson wants her to keep her mortgage the same ($175,000). He says she can use up to $100,000 from nonretirement savings toward a down payment. If she nets $86,000 on her condo, she can afford to spend about $360,000. 3. Shop like a shark. Area condos are selling 5% to 10% below list price, says Hanna. So Galdes can shop that much above her budget.

The Subaru River Jam Concert Series at the U.S. National Whitewater Center features some of the best live music in Charlotte along with great food and drinks and the beautiful Whitewater Center as its backdrop. Here is this summer's band schedule. AllSport Passes. Now you can buy one Pass, and play all day!

Be sure to visit the U.S. National Whitewater Center's website for a complete list of events at the Whitewater Center.

Our goal is to make it easy to get the most out of your visit... that's why we've introduced the new

Our staff is here to help - call us at (704) 391-3900 between 9:00 am - 5:00 pm EST for general information, group and event planning, or program information. Contact us by e-mail at info@usnwc.org This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Please allow up to 24 hours for e-mail responses.

What to Wear

Wear comfortable clothes appropriate for your choice of activities and weather conditions - in other words, wear clothes that you don't mind getting dirty or in some cases wet.

Bring a towel along and maybe an extra set of clothes if you plan to participate in a water sport.

Shower and locker room facilities are available. Locker tokens can be purchased at the main ticket window ($2 one-time use) or the Outfitter's store upon arrival.

To rent a bike you will need to present a credit card at time of rental (charges apply only for loss or damage).

What to Expect

It is important to plan your day with the following information in mind;

• In order to maximize the guest experience, we set capacity limits on the the activities available to the purchaser of the Sport Passes
• Give yourself plenty of time to spend at the Center since there are limits to the availabilities due to the capacity limits (most folks spend 4-5 hrs at the Center engaging in several activities)
• Many activities fill up quickly during peak times (generally 11:30-3:30)
• For many activities we create a wait list to allow you to sign up for the next available trip in order to avoid standing in line
• We encourage you to try other activities while you wait on the activity you were initially seeking (i.e. stay active)
• Please check the daily activity schedule to determine the the day's schedule of activities
• Consider factoring in eating time since most people do visit the restaurant during their trip
• Please review the gear requirements for the activities so that you may come prepared. Please pay particular attention to the footwear requirements

House Rules

We look forward to your visit and ask all guests to follow our 4 simple rules:

1. You are responsible for your own safety at all times and you must exercise extreme caution while visiting the Center due to the inherently dangerous activities and elements within the Center
2. No Coolers or Outside Food and Beverage
3. No Smoking
4. Keep Pets On A Leash At All Times

Parents are requested to maintain constant supervision of small children as there are no guard rails around the river.

Guests with Disabilities

The USNWC diligently strives to accommodate all our guests. If you or someone in your group has special needs, please let us know upon arrival at the USNWC. Each activity requires different physical capabilities, but we will do our best to accommodate each person based on his/her needs, our safety requirements and our resources. We look forward to your visit!

Have Fun!

We hope you have a great time at the USNWC and return regularly.

Your input is very important to us. Let us know about your visit, or share a comment or suggestion by completing our online survey.

Don't Forget Festival In The Park, Freedom Park...This Weekend!

Since 1964, Festival in the Park has been bringing good music, good art and good times to Charlotteans and visitors from around the world. The sounds of "big band music" drift across Freedom Park's lake whose still surface reflects the lights strung from Camelot exhibit tents.

The scents of a variety of food fill the air, as small children with painted faces happily produce their first art work. Others find the many talented artists who can create an original work of art to grace their home or to give as the perfect gift.

First time visitors are taken by the simple, relaxed atmosphere. Old timers marvel at the freshness of each year's offerings, as memories from long ago festivals are revisited. Unlike most festivals our lighting system allows us to continue into the night.

This fun filled event is designed to promote and stimulate interest in the arts. It provides the opportunity for all to see, hear, and learn from over 150 artists and crafts people who actively demonstrate and display their art.

Nearly a thousand entertainers provide free ongoing performances at the main band shell and many stages surrounding it.

Festival in the Park has been chosen as one of Sunshine Artists Magazine's 200 BEST festivals. Over 125,000 visitors are estimated to have attended the 2008 Festival in the Park.

The Festival is made possible by many groups and individuals. A sampling of the organizations who actively participate in bringing art and entertainment to the Festival are Charlotte Mecklenburg Schools, Children's Theatre of Charlotte, Carolina Raptor Center, the Carolina Clowns, the United Magicians' Association, the Charlotte Folk Society and the Actors Crib. We welcome them and the many others who help make the Festival possible.

We encourage all groups and individuals to participate and get involved Festival in the Park!!

45th FESTIVAL IN THE PARK
September 24-27, 2009
THURSDAY September 24 - 6 pm - 9 pm
FRIDAY September 25 Kid's Day 10 am- 1 pm
FRIDAY September 25 - 1 pm- 9:30 pm
SATURDAY September 26 - 10 am - 9:30 pm
SUNDAY September 27- 11 am - 6 pm

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