Diane McDermott, Real Estate Broker, Charlotte NC

If you're looking to buy Charlotte NC real estate in a neighborhood that has a homeowners association, there are some things you need to find out. It's rare these days to find a newer neighborhood in Charlotte that doesn't have a homeowners association and a set of protective covenants.These covenants are put in place with the goal of protecting property values and maintaining an appealing aesthetic to the Charlotte NC neighborhood.

The covenants can range from fairly basic to highly detailed, so if you're looking in a particular neighborhood you need to know what is and is not allowed BEFORE you buy! Sellers should have (or be able to obtain) a copy of the most current covenants and any amendments that have been made, but if they don't provide that it's up to you as a buyer (and your buyers agent) to get a copy and read it!!!If you have dreams of putting up a privacy fence, pool, changing the exterior of the house, or even utilizing the street to park a car, wouldn't it be better to know what you can and can't do BEFORE you're the owner bound by the neighborhood covenants?

Buyers should also talk with the management company (when there is one) about any potential homeowners dues increases, transfer charges, potential amendments to the covenants and any other questions they may have about what homeowners can and can't do with the exterior of the property.

Just because you're looking to own the home, that does not mean there aren't rules you'll be bound by when you choose to move into a given neighborhood. Newer neighborhoods today have a ton more amenities and features to offer residents of the community (pools, tennis courts, clubhouses, walking trails, playgrounds to name a few) but don't get so caught up in the amenities that you fail to ask about what's required of residents.

Each neighborhood is different, and asking these questions will allow you the buyer to more accurately compare which neighborhoods best meet your needs while evaluating Charlotte NC real estate.

Diane McDermott
Real Estate in Charlotte NC
Realtor®, Broker
Landis E2 Real Estate

Of course not! That would be just plain stupid, right? Well if you are voluntarily choosing to not buy real estate in Charlotte NC right now, that's exactly what you're doing. You will pay more in the future and get less for the money than you could right now, today.

Don't believe me? Let's take a look back over the last few years then and look at what's happened to prices and days on market for Mecklenburg County since that's a more accurate picture than data from the entire mls region.Below is data from Carolina Multiple Listing Service 3rd Quarter Reports (that's the most recent for 2007 so that's why I chose 3rd quarter)
Year Average Price Average Days on Market
2003 $236,000 83
2004 $228,600 90
2005 $253,100 75
2006 $265,400 62
2007 $285,000 65

Anyone see a trend? Hmmm, prices have gone up and days on market down. That's right, supposedly we're in a "downturn" right now yet our latest 3rd quarter averages are more than 20% higher than just 4 years ago. So it is indeed true that you will pay more today and get less for the money than you would have in 2003. AND, our days on market average is 18 days less than it was in late 2003!

So, you can choose to wait and believe the media hype, but here in Charlotte NC wouldn't it make more sense to look at what's going on locally and seize the opportunity to own real estate in a market that continues to be show stable and steady growth?

Real estate in Charlotte NC a long term investment, not a way to make a quick buck.

Diane McDermott
Real estate in Charlotte NC

It hasn't been officially announced yet but according to the Charlotte Observer, Charlotte's Mayor Pat McCrory filed paperwork with the NC Board of Elections that indicate he plans to run for governor of NC.

Mayor McCrory was just re-elected to his seventh term as Charlotte's Mayor and has been in office during the extensive growth that we've seen in this city over the last decade. He's been an outspoken advocate for homeland security measures as well as light rail transit here in Charlotte which has had a tremendous impact on real estate growth in Charlotte NC's South Blvd corridor.

How would he do as governor of NC and will he have statewide support to win that position? Obviously he's popular enough here in Charlotte that we continue to keep him in office. NC's a large state and issues vary from region to region within the state but then again Charlotte certainly isn't a homogeneous city with only one side to any issue.

Personally I think it would be great to have a governor with a history and proven track record of effectiveness and public support from a large urban area in the state.

Diane McDermott
Real estate in Charlotte NC

Of course there's a lot that I've grown to love about living in Charlotte NC, having lived here for nearly 6 years I've gotten to know a great deal about this city and watched it change on a daily basis. But one of my favorite things about this area is the weather!

Leaving a meeting this afternoon I didn't need a coat, the sun was shining brightly and I actually needed to open the sunroof on my car. It feels like spring and the calendar says January 7th! Last week was freezing which was a nice taste of winter weather, and it will cool down again but the thing about Charlotte is that when it's cold, it's not usually cold for too long.

Moderate is the perfect word for our winters, we get a taste of cold weather but it usually warms to a comfortable level pretty soon.

Today and early this week will be abnormally warm approaching 70 degrees, usually it's closer to the 40s or 50s in the daytime but compared to some other parts of the country, that's not bad for January!

Diane McDermott
Real estate in Charlotte NC

Charlotte's first light rail line is exceeding ridership projections after just one month. The Lynx Blue Line along South Blvd opened in late November and as of late December is averaging 12,000 riders per day. The line is proving popular not only with commuters but also as a way to get to events Uptown. The original projections for ridership were around 9,000 for the first year of service.

After a failed effort to repeal the half cent transit tax (which used the light rail as an example of transit debacle) it's really awesome to see that Charlotte is embracing the light rail line which is the first in NC.

Diane McDermott
Real estate in Charlotte NC