Talk Charlotte Blog - Real Estate, Community Resources, & other Good Stuff

Welcome to the Talk Charlotte blog where are talk about the Charlotte real estate market, highlight our listings, discuss various neighborhoods and developments, and offer insight to our community.

May 23, 2017

Most Charlotte homeowners think they'll stay in their current home for the rest of their lives

Long ago, when people bought (or built) their family's home, they usually did so with the intention of staying in it for the rest of their lives and maybe even passing the home down to their descendants through the generations. But as the world changed, families became more mobile. The days of living out the rest of one's life in the same home have practically disappeared. Or have they?

According to the results of a recent survey from Bank of America, an overwhelmingly high number of Charlotteans say they could stay in their current house for the rest of their lives. What's more, Charlotte homeowners are increasingly interested in investing in their property. According to the survey, 84 percent said they look for ways to make their home more valuable and 77 percent said they spend a lot of free time working on their home.

Could this mean more people are following the "improve not move" mantra? If so, this could have significant implications for the Charlotte area real estate market. With fewer Charlotte homeowners moving up into new homes, and new home construction struggling to keep up with demand, the Queen City's housing inventory will likely get tighter, forcing home prices to continue on the upward path.

To avoid unhealthy levels of price acceleration, major metros like Charlotte will likely need to see expanded development and higher levels of new home construction in the lower to middle tier price range. Fortunately, there are several new or fairly new developments with homes starting below $120,000 on the market right now -- but Charlotte buyers will need to act fast, as these homes do not stay available for long.

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Posted in Real Estate News
May 19, 2017

Charlotte area home price growth much higher than national pace

The price of residential real estate in the greater Charlotte area has accelerated at a rate nearly twoce the national median in the first quarter of 2017.

According to the data released earlier this week by the National Association of Realtors, the median sales price of an existing single-family home in the Charlotte area grew 13.4% to $209,600, compared with the first three months of last year. The national median rose 6.9% to $232,100, which is the highest pace since the second quarter of 2015.

The boost in Charlotte home prices is attributed to a sharp drop in inventory as demand continued to grow. This was the case for much of the country, according to information from the National Association of Realtors (NAR).

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Posted in Real Estate News
May 16, 2017

Prime Location: South Charlotte Land For Sale

Looking for that perfect piece of land to build your dream home? Look no further than 4908 Carmel Club Drive. This pristine slice of paradise is located in South Charlotte's Tuckaway Park subdivision, next to the Carmel Country Club, McAlpine Creek and Carmel Lake. Indulge in golf course views, peaceful beauty, and a rarely heard of 3 private acres of land.

Listing Price: $725,000


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May 15, 2017

OPEN HOUSE: 6422 Northern Red Oak Drive, Mint Hill

Mark your calendars! We are hosting an Open House for this lovely property in Mint Hill, NC this Saturday, May 20th from 1:00 - 4:00 PM. 

This stunning, 4 bedroom, 3 1/2 bathroom home in Mint Hill is located in the sought after Fairington Oaks subdivision - simply put, neighborhoods like this are not being developed anymore. Standout features include a large, fenced in lot adorned with mature trees, 3-stall garage and a spacious upstairs loft.


Property Features:

  • 4 bedrooms, 3 1/2 bathrooms
  • Located in Mint Hill (about 35 miles southeast of Charlotte)
  • Approx. 3,493 sq ft
  • JUST REDUCED Listing Price: $435,000


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April 27, 2017

Real Estate Snapshot: Cornelius, NC

family sitting in front of suburban house

Located north of Charlotte along the east bank of Lake Norman, the growing community of Cornelius is a popular place for those looking to buy homes outside the Queen City proper.

Location

Situated about 20 miles directed north of uptown Charlotte, commuters can usually travel between there and Cornelius in roughly half an hour. Charlotte Douglas International Airport is approximately 25 miles away (or about a 31 minute drive), and the nearby communities of Huntersville, Kannapolis and Concord are all within close driving distance (at around 6, 17 and 19 miles away, respectively).

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April 21, 2017

Charlotte area home sellers take note - median prices rose 13.3% in March

Charlotte area homeowners thinking of putting their property on the market this year may want to act quickly to take advantage of the strong demand and rising prices. According to a recent report from the Charlotte Business Journal, the median sales price of a Charlotte area home grew by a double-digit increment last month, registering as the third-highest out of 53 markets nationwide.

This data comes from the Denver-based Re/Max's monthly national housing report. The report reflected a 10.1% price gain from February 2017 to March 2017. Even more impressive, the median price of $226,500 rose 13.3% from the same time last year.

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Posted in Real Estate News
April 13, 2017

Studies Show Affordability, Not Location, is Drawing Millennials to the Suburbs

A pair of recently released reports has found that millennials - the generation following the baby boomers - are more interested in buying homes in the suburbs than urban areas. This breaks the long-held stereotype of millennials placing more value on experiences and lifestyle than saving money and building equity. Could this change the way we see the millennial generation, and how the real estate market interacts with these young adults?

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Posted in Real Estate News
April 12, 2017

Pending Home Sales Increase 5.5% in February

As the spring buying season rolls on with demand often outpacing supply, pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the latest data from the National Association of Realtors®.

According to a March 29 press release from NAR, the Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, increased 5.5 percent to 112.3 in February from 106.4 in January. February's index reading was 2.6 percent above a year ago, was the highest since April 2016 (113.6) and was the second highest since May 2006 (112.5)

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Posted in Real Estate News
April 4, 2017

Charlotte Named a Top Investment Housing Market in the US

We've known for a long time that Charlotte is a great place to call home. But now, our beloved Queen City is getting recognized for its investment value - specifically, investment housing value. According to a recent report from HomeUnion, a California-based real estate investment management firm, Charlotte is a leader in the single-family rental market.

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Posted in Real Estate News
March 16, 2017

Beautiful Weddington Home For Sale: 7235 Forest Ridge Drive

Looking for your perfect home just outside the busy city limits? Look no further than 7235 Forest Ridge Road located in the cozy town of Weddington, NC.

Property Details:

  • List Price: $989,000
  • 7 Bedrooms, 5 Bathrooms
  • 5,567 sq ft
  • Located in east Weddington (approx. 20 miles south of Charlotte)



This private entry, spacious estate is situated on over 5 acres of land in the Providence Place subdivision, and has recently been fixed up with cosmetic updates. There's room for all with a 2 stall attached garage AND a 3 stall detached garage.

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