Charlotte Real Estate- TerryMcDonald

Best Value in a Luxury Home is at the Palisades

In the last 8 days I’ve been out looking at homes priced between $1.5M and a little over $3M. I’ve seen Charlotte’s finest builders. I’ve found high quality homes and excellent values in a handful of neighborhoods, Skyecroft in Weddington, Stratford On Providence, The Sanctuary, Longview, and the Palisades. By far the best value, was this Jas-Am home in the Palisades. This home has over 6000 sf finished, an additional 800 unfinished in the attic (a perfect theater room?) and details more common in the 3M category. Have a look:

This home’s asking price is $1.695M, and it needs a couple of things- I think we can get it all for under $1.65M. Call me direct a 704-351-1519- as always I am a buyer Agent and represent only you.

I walked two models at the Ranch with the builders, Bobbi and Ricardo Anderson and Frank from Persis-Nova, all I can say is Wow! It’s made me excited about this year’s Homearama at the Ranch at the Palisades. Home prices will range from just under 2M to possibly $3M+.

If you are looking for a luxury home in Charlotte, see the rest of the story at Luxury Homes in the Palisades Concerned about the market? Here are couple of recent articles about the strong Charlotte real estate market by Forbes.com and ABC News

Like to search for a Palisade home? Click the Red House and under zip code use 28278. Call me direct, 704-351-1519, for the inside information on these and other fine Charlotte communities.

Charlotte Real Estate Market Report-Residential Single Family Homes

January ‘08 Homes Prices, based on the Sold Average Cost Per Square Foot remained at $109/ sf, identical to the record setting January ‘07 prices, keeping todays home prices 8.18% above January, ‘06

11.3% above January, ‘05. Even as Charlotte weathers the dramatic slowdown in home sales, with 27% fewer single family homes sold, valuations remain rock solid.

The three month trend line, a more accurate reflection because of the larger number of sales, is virtually identical to the January numbers. For the 3 months ending 1/31/08, the average sold cost per/sf was $109.92, versus $109.73 for the same period ending 1/31/07. And sales were off 24% for the same period.

So why am I celebrating no appreciation you ask… a good question. The short answer is because around the country home prices are falling- double digit drops in some cities. According to Radar Logic, the wall street firm used by the Wall Street Journal and Bloomberg TV, 20 of 25 national MSA home prices fell in November.

Boston home prices- off 5%

Chicago home prices- off 3.8%

Atlanta home prices- off 7.1%

Miami home prices- off 10%

Lois Angeles prices- off 10%

San Diego prices- off 17%

Sacramento Prices- off 18%

WOW. Now do you see why I am happy that Charlotte home prices have remained steady? And remember, our unit sales did slow dramatically, 24% in the last 90days, just like these depreciating markets.

So why is that? Why has Charlotte performed so well? is it likely to continue as well? To be entirely accurate, it would be a long answer, but the main reasons are clear: Charlotte creates jobs way faster than the national average- this past year over 21,000 new jobs a 2.6% increase, nationally the number was 1.1% and the 2nd is that these are well paying jobs, adding to the areas income and demand for housing. Charlotte remains the “Only Objectively Affordable “ major city in America, according to Radar Logic’s square foot analysis.

I was asked today, will it continue? There is no sign our local economy is slowing…with the caveat that no one can predict the future including me, I do believe it will continue, as the economy continues to expand here. .

However, it’s not all roses in Charlotte. The new home industry is contracting swiftly trying to get to manageable inventory levels, and will build many fewer new homes in 2008 than 2007. What started as the sub-prime fiasco has now turned into a low grade credit crisis nationally, and it will be harder to buy a home in 2008, affecting ours sales as well. While I report on averages here, there are some areas of Charlotte where prices have fallen, some are significant, while some prices continue to rise. Choose your areas wisely.

See the Rest of the story, Charlotte January Real Estate Market Report here.

Other Related Posts: Despite Slower Sales, Charlotte Home Prices Up in 2007

Want more Charlotte information? If you've never visited Charlotte, try my Introduction To Charlotte video, it is fact-filled and has been well received. Then if you like try some of these category posts...

Active Adult, Over 55 Communities in Charlotte

Charlotte Real Estate Market Reports

Most folks like pictures, and I like taking them, so I've published more than 1500 pictures divided into 45 galleries, divided by community, area

and fun things to do, see them at: Uptown Dilworth, SouthPark, Ballantyne Country Club, High Gate and more. Pictures are of Sunny Lake Norman, The Levine Musem of the New South, and our in-town University, Queens of course.

Concerned about the market? Here are couple of recent articles about the strong Charlotte real estate market by Forbes.com and ABC News

Please don't hesitate to call me direct with your Charlotte real estate needs and questions, 704-351-1519

Matthews, NC Homes for Sale Market Report

Only a short drive from Uptown Charlotte, Matthews is a popular choice as a “move to” location in the south Charlotte area. It combines a small town feel in its historic downtown, modern suburbs, communities at every price point, and has lots of sidewalks, a great public library and a revitalized downtown. Matthews is the rare suburb that has a small town feel but offers all of the important shopping, dining and entertainment. About 35 minutes from uptown,there is Rapid Bus Transit to The Bank of America building daily.

Also stay tuned-I’ll be publishing a response to yesterdays misleading Observer story about the Charlotte market.

Matthews Alive, an annual Labor Day celebration draws folks from all over south Charlotte. Like to see more photos, try my Matthews Photo gallery.

Here is the Matthews Homes for Sales Report for single family homes:

Table notes (a work in progress, sorry if its not perfect) : LYSold, last column on right, is the number of units sold in this price range in the prior 12 months. Both price and size are the median for their price point. Year to year appreciation studies- based on SOLD average cost per square foot prices are available to clients.

A few thoughts about the market– generally Matthews has a very low absorption rate- contrary to some local “doom and gloomers” and while it has a lot of selection- like everywhere it is a strong buyers market, the homes do sell and remain comparatively undervalued to its more expensive further out neighbors. You may search the MLS for Matthews homes at any time by clicking the Red House, when asked City- find Matthews.

Fun things to do abound in Matthews: the Siskey YMCA is only a few minutes away offering an indoor pool, several indoor basketball courts, an extensive free-weights room, an extensive treadmill and weight machine room, many different types of exercise classes and a large outdoor water park. For those more interested in a tasty meal than a treadmill try the oysters at Vinnie’s in downtown Matthews. Then if you are there on a summer Saturday night walk over to Stumptown for Movies In The Park.

See the Rest of the Story

A Related Post- Matthews Alive- A Labor Day Celebration

If you’d like to search the MLS for homes in Matthews, NC click on the red house above. If you’d like to find out more about living in or moving to Matthews, NC, I lived there 7 years, so call me (Terry) direct at 704-351-1519.

The Palisades: Resort Living at Lake Wylie

The Palisades, located south-west of Charlotte on Lake Wylie, is a new, upscale 1,600 acre planned community that offers resort style living within an easy commute of downtown Charlotte an is the site of Homearama 2008. Amenities include a Jack Nicklaus designed golf course and clubhouse, a sports complex with 5 tennis courts and the areas only grass court- plus the Jim Courier Outback Seniors Championship that brought Pete Sampras to Charlotte this past summer. A soccer club headquarters, (Charlotte United) an equestrian eventing complex, (if you are interested in equestrian living, call me direct for details-the inside scoop, of the Ranch)- 7 miles of trails and a one of a kind amenity in Charlotte…..The Palisades’ Boat Club. Instead of having to own a boat to join the club you pay dues and are allowed to use 1 of 4 boats that the club owns, and they train you as a captain. For about half of what it would cost to keep one boat you can have access to four different boats, ski boat, deck boat or cabin cruiser… or a more simple fishing boat. If all of the amenities within The Palisades don’t manage to keep you busy try the 1,200 acre McDowell Park and Nature Preserve directly across the street from The Palisades.

Here are the homes for sale in The Palisades:

There are 22 homes for sale for less than $600,000

There are 13 homes for sale for less than $800,000, but more than $600k

There are 11 homes for sale for less than $1,000,000, but more than $800k

There are 11 homes for sale for more than $1,000,000

Within the larger community of The Palisades there are 16 sub-communities that correspond to different price points. Homes in Briar Cliff (one of the sub-communities) for example, start in the mid 300’s. Custom from th the 700's, Homes in the new Montage sub-community start at $1.3 million, and the larger 1 acre homesites in the Ranch will feature 2.5- 3.5M homes and is the site of Homearama 2008. Please click below to see an interactive map of The Palisades.

To Search for Palisades homes, click the Red House, and search zip 28278. Like to know where the deals are? Call me direct, I receive new info daily, and at this time there are some terrific bargains in high quality custom and some of their tract builders as well. It's an exciting place to live. Call Terry at 704-351-1519.

Thinking about moving to Charlotte? Facing a job transfer, a quality of life move, or just want to come for the weather?

Lancaster, SC| Carolina Lakes Homes for Sale Market Report

Sun City Carolina Lakes offers Villas from the 180's, homes and TH from the low 200's

Del Webb’s Sun City Carolina Lake’s is an attractive choice for the active adult over the age of 55. Amenities abound with an 18 hole golf course and a 40,000 square foot recreation and meeting center. Located just 10 minutes south of Ballantyne, homeowners enjoy a golf cart lifestlye, low SC taxes and a lifestyle made famous by Del Webb. Close to Charlotte’s excellent medical facilities, 35 minutes to the airport, and about 35 minutes to the Panther stadium on a fall Sunday, Carolina Lakes offers villas, townhomes and single family homes. One young adult (over 19) are allowed with in the community with a family member.

Below are the Homes for Sale in Sun City Carolina Lake Community, in nearby Lancaster County.

There are 18 homes for sale for less than $250,000

There are 12 homes for sale for less than $350,000, but more than 250k

There are 9 homes for sale for less than $450,000, but more than $350k

There are 3 homes for sale for more than $450,000

If you’d like to find the perfect home for you in this community click on the red house and type Lancaster SC in the city field or call me, Terry direct at 704-351-1519

Thinking about moving to Charlotte? Retiring, looking for a quality of life move, or just want to come for the weather?... you are in good company

See the rest of this entry. Read the rest of this entry »

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