New Projects coming to South Charlotte

South Charlotte will be getting two new projects that we are excited about. They won their rezoning petitions at the Charlotte City Council Meeting this week.

The first project we are excited about is a redevelopment of Melrose Apartments in Madison Park. The site is the current home of 54 apartments originally built in 1967. There are also four single-family homes on the redevelopment site. Those four homes and the old apartments will be demolished to make way for the new project. This redevelopment project was first proposed in 2015 and has finally won unanimous approval by City Council.

The new project will have up to 265 apartments and eight townhouse-style units on the 2.9 acre site. This upscale complex will contain four and five story buildings, a parking garage, parking for each unit, a swimming pool, and central courtyard.

There are some concerns about the project being inconsistent with the surrounding neighborhood and issues with the elevations associated with the project. However, this project near the intersection of Park and Woodlawn Roads is still exciting. Revitalizing that corner is a great opportunity to add some character and better functionality to the area.

The second project we are excited about is an expansion of Phillips Place. Phillips Place has long been a place with restaurants, specialty retail, apparel, and home furnishings. The main street has an old world feel with fountains, benches, and lush landscaping. A hotel, movie theater, residences, office space and more made Phillips Place revolutionary as it was Charlotte’s first mixed-use development.

The expansion will add about 100,000 square feet of commercial space. Currently there is about 80,000 square feet of retail space excluding the hotel and movie theater. The plan also calls for parking decks with a smaller footprint allowing denser development. The project is slated for 15.1 acres just south of Fairview Road. The expansion of the Phillips Place retail center in SouthPark was unanimously approved by City Council.

If you are interested in a home in Madison Park or in SouthPark, give us a call at (704) 525-4045. You can also view current listings on our website here.

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September Market Statistics

Sales across the Charlotte region fell again in September. They dropped 3.9% from last year from 4,121 down to 3,960 sales. These numbers all come from the Charlotte Regional Realtor Association’s monthly report based on data from the Carolina Multiple Listing Services, Inc.

According to the report, inventory was also down. Last year at this time there were 12,297 homes for sale in the region and this year there are only 10,140. This is a 17.5% decline year over year. The region is left with only a 2.5 month supply of homes. A balanced market giving equal power to buyers and sellers in a transaction is generally considered to be a six month supply.

Home prices on the other hand, continue to rise. The average sales price was 6.3% higher at $271,606. Median sales price was up 9.2% to $225,000. This shows that the seller’s market that has been the trend is showing no signs of stopping.

Pending sales were up 16.4% to 4,137 up from 3,555. The strength of pending sales shows that we should have a stable market for a while to come.

New listings are up year over year. They are up 3.3% to 4,700 from 4,550. This shows seller’s confidence in the market continuing to be strong.

Homes are selling quicker than last year as well. The time on the market from list to close was 99 days last year and this year is down to 90 days. Loans still take about the same time to come through so this means that the days on the market until the sale were also down from 47 to 39 days.

The market shows all indications of remaining a strong seller’s market, even with sales in a slump. If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Check out the Parade of Homes

If you are interested in new construction in the Charlotte area but aren’t sure what you want in a home, the Parade of Homes is a great place to start. This showcase highlights model homes in communities all around the area in a wide variety of styles, home builders, and price points. The Parade of Homes is also a great way to learn your way around if you are new to town.

The Parade of Homes began last weekend, and continues this weekend and the next. Dates are October 13-15, and 20-22. Homes are open from 11:00 am to 6:00 pm on Fridays and Saturdays, and from 1:00 pm to 6:00 pm on Sundays. The tour is free of charge and even has an app this year that will help you navigate. You can also check out http://www.paradecharlotte.com/ for the interactive website to plan your tour.

The Parade of Homes is like a huge open house. The best home builders in Charlotte and the surrounding area are all participants. They pull out all of the stops to show you everything they can do for you. Builders show fully furnished model homes and hope to get you to sign on the dotted line for a new home.

Some important things to remember about purchasing a new home. Just like purchasing an existing home, it is important to have your own Realtor represent you in the transaction. All of the sales staff for the builder work for the builder’s interests. You want to make sure you have someone to help guide you through what will probably be the single biggest investment in your life. A Realtor can help you through the process of choosing all of the options, upgrades, and finishes that will make your house a home, but will also make it appreciate and if necessary, get you the best price on resale.

Eighty homes will be a part of the tour this year highlighting 21 builders. Prices range from $240,000 up to $1.4 million. The show is organized by the Home Builders Association of Greater Charlotte. This year the homes are in Fort Mill, Rock Hill, Weddington, Huntersville, Concord, and in Charlotte as well. Builders represented this year are:

  • Alan Simonini Homes
  • Arthur Rutenberg Homes
  • Bonterra Builders
  • Century Communities
  • Chelsea Building Group
  • David Weekley Homes
  • Epcon Communities
  • Essex Homes
  • Fielding Homes
  • H & H Homes
  • Knotts Builders
  • Kolter Homes
  • Mattamy Homes
  • Meritage Homes
  • Niblock Homes
  • Saussy Burbank
  • Shea Homes
  • Smith Douglas Homes
  • Taylor Morrison
  • Terrata Homes
  • Toll Brothers

If you are interested in a new home in the Charlotte area, go tour the Parade of Homes, then give us a call at (704) 525-4045 and we will be happy to help you navigate through the process of purchasing your new home. You can also view current listings on our website here.

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Cramer’s Pond to be Developed by Grandfather Homes

Homebuilder Grandfather Homes is in the works to build ten custom homes in Cramer’s Pond. This location is right around the historic Barnhardt-Cramer House located at 2733 Country Club Lane in Plaza-Midwood. The historic home will be preserved by the Charlotte-Mecklenburg Historic Landmarks Commission. They are purchasing the original estate with four adjacent lots. They will eventually sell the historic home as a single-family residence.

Plaza-Midwood is home to many Charlotte favorites. This diverse and eclectic area has art galleries, funky stores and delicious restaurants. From a streetcar suburb during the great depression, when the Barnhardt-Cramer house was built, to today, Plaza-Midwood has been a great place to call home.

Eventually there will be up to 40 homes around Cramer’s Pond. They will join the original 6,500 square-foot plantation home built in 1938. Grandfather Homes will take 15.3 acres of the original plantation and develop ten custom homes. The remaining 26 lots will be developed later.

What we know at this point about Grandfather Homes plans is that each home will be distinct. Floor plans will range from 2,500 to 4,500 square feet. Homes will have between three and five bedrooms and three to five bathrooms. Homebuyers can work with Tammy Coulter Design to select interior options. Prices should start in the $800,000’s and construction should start sometime next month. Floor plans are available or buyers can work with plan designers to build to suit.

Homes in Cramer’s Pond will follow along with the same craftsmanship and attention to detail that are a hallmark of Grandfather Homes. Based in Charlotte, they offer premiere custom homes that offer close attention to detail. They make sure the home you build is perfect for you and your family.

If you are interested in a home in Cramer’s Pond, give us a call at (704) 525-4045. Remember that bringing representation to a builder is in your best interest as the builder’s reps work for the builder, not for you. You can also view current listings on our website here.

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News About City Park

As density moves further away from Uptown Charlotte, a new and exciting project is growing right near Charlotte Douglas International Airport. We told you about the Townhomes at City Park in August. but the development has announced many more additions that will make City Park a true destination.

The major announcement is that a 139-room Aloft Hotel is coming to City Park. The hotel will have 77,000 square feet and should break ground early in 2018 and be completed by the end of that year. The hotel joins Mariott International Residence Inn and a Fairfield Inn & Suites already on the site.

Also planned for the development are two full-service restaurants and two additional eateries. Plans also include a salon and fitness center. Already signed to City Park Village are Panera Bread, Chipotle Mexican Grill, Starbucks Coffee, and Firehouse Subs.

This area at the former site of Charlotte Coliseum off Tyvola Road has been exploding recently. If you want to get in on this area, Ryan Homes has townhomes under construction now. They start from the $230,000’s and are 2 or 3 story. They have 1 or 2 car garages and up to 2,332 square feet. Plans have 3 bedrooms and 2.5 bathrooms and are designed in one of four basic plans. There are many ways to customize the basic plans and plenty of upgrades available.

The townhomes are all part of the 170-acre development adjacent to Renaissance Park. The park is loaded with trails, tennis, beach volleyball, golf, mountain bike riding, and more inside it’s 145 acres. There are also many community amenities planned so you can really have it all in City Park.

The final plan for City Park calls for apartments in addition to the retail, hotels, and townhouses. A newly opened Veterans Affairs health-care center and the new headquarters for Sealed Air Corporation are just down the road.

If you are interested in owning a home in City Park, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Hadley Park Coming to Arrowood Station

Arrowood Station is about to get a lot more popular. A newly announced townhome project called Hadley Park by Century Communities has us excited. This nearly 50 acre site will be the home to 239 townhomes starting in the low $200,000’s. Two model homes are expected to be completed by early 2018 with other homes following soon after.

Century Communities is based in Colorado and has a large presence there. They also have communities in California, Georgia, Nevada, Tennessee, Texas, Utah, and Washington State. This will be their first townhome project in the Charlotte area. They have new construction single family communities such as Marvin Chase, Wyndmoor, Greenbriar, and Highclere.

Hadley Park is located on the South side of Arrowood Road between England Street and South Boulevard. It is adjacent to the Lynx Blue Line Arrowood Station. This means that residents with a commute might not even need a car, though each home comes with a two car garage.

Two basic plans are on offer from Century Communities and can be customized to meet your needs:

Brighton Plan with 2 bedrooms, 2.5 baths, 2 car garage, 1,532-1,544 square feet

  • First level home office and two car garage
  • Main level chef’s kitchen with granite island kitchen overlooking great room
  • Spacious walk-in pantry
  • Relaxing rear deck
  • Upper level owner’s suite and guest suite, both offering private baths and walk-in closets
  • Beautiful finishes throughout

 

Stratford Plan with 3-4 bedrooms, 2.5-3.5 baths, 2 car garage, 2,030-2,041 square feet

  • First level two car garage and flex space with half bath, with fourth bedroom/bath option
  • Main level family room and dining space flow into generous chef’s kitchen with island
  • Walk-in pantry
  • Upper level includes private owner’s suite and spa-like bath as well as sizable walk-in closet
  • Two additional bedrooms and a hall bath also located on upper level

Amenities in Hadley Park will include a zero-entry pool, shaded cabanas, a sunshelf, and an amenity center. The homeowners association will keep and maintain all common areas.

If you are interested in learning more about this great project, give us a call at (704) 525-4045. You can view current listings on our website here.

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More Townhomes Coming to SouthEnd

There are two new projects coming to SouthEnd that we are really excited about. Both are townhome projects starting in the high $200’s to the high $300’s. This is a great opportunity for people wanting the great SouthEnd location, but not wanting to rent.

Domain Townhomes were just launched earlier this month. They had a launch party giving people a sneak peak with virtual reality headsets. There will be 20 townhomes in the project starting at $274,900. Pre-construction sales of the units began on September 8th.

Homes will have private fenced back yard courtyards, one-car garages, dine-in kitchen islands, balconies and more. Modern touches will be felt from the etched glass and metal garage doors to the black stainless-steel wi-fi enabled appliances.

Domain Townhomes will have two-bedroom, one and a half bathroom homes. Each is around 1,200 square feet. The guest room is on the first floor and can double as a home office. The entire third floor is dedicated to the owner’s suite with tons of natural light, oversized walk-in shower, and plenty of storage in the walk-in closet.

The second project of note is the second phase of Hopper Communities SouthPoint project. 33 townhomes will join the 53 from the first phase. The first phase began in September of 2015 and only has two unsold units. The second phase should be completed next summer and pre-sales have already begun.

The seven new buildings in SouthPoint are located at the intersection of Remount Road and SouthPoint Commons Court. They are between South Tryon and Youngblood streets and are just two blocks from the New Bern light-rail station.

Units will be similar to the original ones and will feature contemporary architecture and modern design. Hardwood floors, quartz countertops and stainless steel appliances will be standard. Two and three bedroom units will be available and all will feature two-car garages with options for rooftop terraces and Uptown views. Starting price will be in the high $300’s for 1,313 to 2,039 square feet of living space over three stories.

If you are interested in a townhome in the Charlotte area, give us a call at (704) 525-4045. We can help you with on in Domain Townhomes, SouthPoint Townhomes, or help customize your search for your next home. You can also view current listings on our website here.

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August Market Update

The trend continues with no apparent end in sight. Once again, inventory is down in the Charlotte area while prices creep upwards. But the real story is that home sales took another hit in August. These numbers all come from the Charlotte Regional Realtor Association reporting on data from the Carolina Multiple Listing Service.

Inventory is down 18.6% compared to August of last year leaving just a 2.6 month supply. 10,153 homes were on the market for sale, while last year there were 12,477. Last month there were 10,174 for a decrease of 21 listings month over month.

Sales were down 3.8% for the same period. 4,297 homes sold in August as compared to 4,467 last year at this time. This number is up slightly over last month, just 1.2% higher than July.

Median sales price crept up to $230,000 while average sales price inched up to $273,549. This means median sales price is up 5% from this time last year but is down from last month’s $236,000. Average sales price is up 1% from last August, but is down from last month’s $280,696. These numbers can be affected by a few large sales so we will have to wait and see if this is a new trend where prices might be adjusting.

5,394 new listings hit the market in August which represents an increase of 6% over last year.

Industry analysts are predicting that the market will begin to balance over the next couple of years. They expect some relief to the inventory woes as the cooler months typically have a slowdown in the market. This seasonal slowdown should, weather permitting, allow builders to provide more inventory to the market.

The Charlotte area doesn’t seem to be cooling off anytime soon. There is still demand for listings and there is still positive job growth. This means it is still a great place to call home.

If you are interested in a home in the Charlotte area, give us a call at (704) 525-4045. You can view current listings on our website here.

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Find a Hidden Gem in Lansdowne

Lansdowne is truly one of the hidden gems of Charlotte. Built in the 1960’s and 1970’s, Lansdowne is well established, with lush landscaping and large lots. Most of the homes are original to the neighborhood. There was one new construction home just down the street from Providence Day School that sold in July for $1.59 million. Another new construction home is listed now for $1,399,999. These large lots close into town are tempting for new construction.

Don’t be too concerned about the high price tag of the few new construction homes in Lansdowne. Most of the homes here average just under $400,000. This is a much more reasonable entry point for the neighborhood, and could be a great investment if the trend of rebuilding on this great land continues.

Many of the homes in Lansdowne have great architecture and come in a variety of styles. There is a great concentration of mid-century modern homes, traditional ranches, split-levels, and two-story homes. Many have vaulted ceilings, open floor-plans, remodeled interiors, great natural light, outdoor living spaces and more.

Lansdowne is bordered by Providence Road on the South and Sardis Road in the North. This means you have easy access to SouthPark Mall, Cotswold Village Shops, and Phillips Place. An uptown commute should take around 20 minutes, while a trip to Charlotte Douglas International Airport will take about half an hour. Levine Jewish Community Center, with it’s health club, social events and mix of religious and non-denominational events is just around the corner.

Lansdowne is currently zoned for Lansdowne Elementary School, McClintock Middle School, and East Mecklenburg High School. The neighborhood is also located near many private schools which is one of the big draws.

There are currently 15 homes on the market in Lansdowne which represents a 5 month supply. This is a much more balanced market than most neighborhoods in Charlotte. Prices have been steadily rising for the last year so now is a great time to get in before they rise further.

If you want to learn more about Lansdowne, give us a call at (704) 525-4045. You can also view current listings on our website here.

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River District One Step Closer

Back in November of 2016 we wrote about the River District master planned community slated for a vast undeveloped tract of land between the Catawba River and Charlotte Douglas International Airport. The plan has moved one more crucial step forward as City Council has voted unanimously to approve funding. The economic development committee has allocated public money to help fund infrastructure for the development. The improvements will be for roads, police facilities, fire fighting facilities, schools, sanitation, and transit facilities.

A total of $31.2 million in public money will join $30 million from developers Lincoln Harris and Crescent Communities. $16.2 million of the public money is from the city’s Community Investment Plan. The remaining $15 million of public funds will be reimbursed to the builder through a tax increment grant. The $16.2 million from the CIP was already allotted for roads in the Dixie-Berryhill area as part of a $44.7 million bond package approved last year.

Road projects will include extending West Boulevard, Garrison Road, and Dixie River Road. These projects could begin construction by 2019 once planning and design by the city are completed.

Plans are still in the works for the site, but currently they call for 8 million square feet of office space, 500,000 square feet of retail, 1,000 hotel rooms, 2,300 single-family homes, 200 retirement units, and 2,550 multi-family units. These will be spread through the nearly 1,400 acres of River District. About 40% or 550 acres of the site is expected to be preserved as natural space for residents to enjoy.

The vote by the economic development committee means the next step is a vote by the full council. This should happen at the September 11th meeting, with a vote likely at the September 25th meeting. Development for homes in River District could begin by 2021. River District is expected to take 20-30 years to fully develop, so that would put finishing around 2041-2051.

For more information on this community, call us at (704) 525-4045, or check out current listings here.

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