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A new downsizing option will soon be available in Charlotte

If you are thinking of down-sizing, this may be the perfect opportunity for you.

Charlotte is soon to be home to its first community of tiny houses. The tiny house, or small house, movement describes an “architectural and social movement that advocates living simply in small homes.” These homes usually total no more than approximately 500 square feet, and they are becoming increasingly popular as real estate costs continue to rise.

With home prices averaging around $300,000 and the average one-bedroom apartment renting for approximately $1100, many potential homeowners are considering going tiny to save costs and to scale back their lifestyle.

This new tiny home community in Charlotte aims to be affordable without being cheap. Situated on a 20-acre site, there will be 59 lots ranging in size from 493 square feet to 1,000 square feet. These tiny homes will start at $89,000, thus keeping mortgage costs below $500 per month. They can be built in approximately four to six weeks and they are fully customizable. While some tiny homes are meant to be moved or towed, these homes are permanently situated on their lots, allowing for mortgaging options rather than just a full cash payment.

The tiny house movement is the next big thing, and for more details on this new Charlotte community and what it means for the real estate market here, be sure to check out the article at wcnc.com.

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Is this the final design for Dimensional Fund’s South End HQ?

Durham-based Duda|Paine Architects tweeted out a rendering late Wednesday afternoon that appears to show the final design of the Dimensional Fund Advisors headquarters building planned for South End. Austin, Texas-based DFA is expected to break ground on the building in the fourth quarter, with delivery in late 2018. The building is expected to include office space and ground-floor retail. DFA has inked a deal to lease 100% of the building for 15 years. Atlanta-based Cousins Properties is developing…
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Is this the final design for Dimensional Fund’s South End HQ?

Durham-based Duda|Paine Architects tweeted out a rendering late Wednesday afternoon that appears to show the final design of the Dimensional Fund Advisors headquarters building planned for South End. Austin, Texas-based DFA is expected to break ground on the building in the fourth quarter, with delivery in late 2018. The building is expected to include office space and ground-floor retail. DFA has inked a deal to lease 100% of the building for 15 years. Atlanta-based Cousins Properties is developing…
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New Luxury Condos will be neighbors for Springview Meadows

This week the Charlotte Business Journal reported that ground has been broken on a new 280-unit luxury condominium complex near the intersection of Interstate 77 and Gold Hill Road in Fort Mill, SC. The project, called Beckett Farms, has one, two and three bedroom units in the plan. They also plan lots of amenities such as salt-water/mineral pool, cabanas, clubhouse with cyber cafe and fitness center. There will also be areas for children and lots of green space surrounding the project.

Projects such as this have already started in Fort Mill and many others are slated to start soon due in part to job growth in the area. The Charlotte Business Journal likens the growth to the next Ballantyne in terms of businesses moving into the area and housing is needed for all of the new workers.

Springview Meadows is in the right place at the right time. Pulte Homes is the developer and they have 6 basic floor plans on just over 80 home-sites for you to choose from with loads of options to personalize your home. Most feature the “everyday entry”, a mudroom between the garage and living areas for backpacks, shoes, and coats. Many have a life-planning center with computer station. Oversize laundry rooms have plenty of space for sorting and folding. Oversized pantries have space for all of your bulk purchases. This leads you into open concept living spaces. Homes have between 3 and 6 bedrooms and between 2-5 full baths and 0-1 half baths. Homes range in size from 2321 square feet all the way up to 3291+ square feet.

Rendering of a home in Springview Meadows
Rendering of a home in Springview Meadows

There are several existing homes but more homes are available to be customized into your dream home. In the last year, homes have sold for between $337,000 and $484,960.

As of June 18th, there are 7 homes on the market with 2 under contract. They range in price between $339,990 for a 3 bedroom, 2 full bath, 1 half bath with 2,337 square feet to $473,465 for a 4 bedroom, 2 full bath, 1 half bath with 3,486 square feet.

Springview Meadows is located just north of Gold Hill Road off of Highway 21 in Fort Mill. Just take I-77 South to exit 88, go East on Gold Hill Road and North on Highway 21. Springview Meadows will be the first left hand turn.

Read the full article from the Business Journal here.

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As Families get smaller, houses get bigger

The New York Times reported today that a trend has emerged in the housing industry. “The size of the average household has shrunk to 2.58 people, but 47 percent of new homes have four or more bedrooms, and 38 percent of them have three bathrooms or more.” Demand for additional bathrooms has increased as well.

This trend is mostly being seen in new construction where the average square footage has increased to 2687 square feet according to the Census Bureau’s  annual survey of American housing. The census also says that 31 percent of newly constructed homes are 3,000 square feet or more.

Extra space can be a wonderful thing if you have children living with you or coming back to live after college. It can also be nice to have a home office in it’s own space instead of taking over a common area of your home. You may need extra space for an aging parent to stay with you or just want the luxury of having an in home fitness area or maybe a home theater. How about a man cave or a she shed as a separate space in the backyard? There are many ways we can all dream up to make our space our own.

This trend has been documented in new homes, but you could also add to your existing home to keep up with the desire for more space. Can you picture adding on a mother-in-law suite? Maybe you work from home and really need a dedicated office where you can close the door to take a conference call instead of taking over the kitchen island. Picture taking some of your large backyard to create a custom space to rest and relax or put it to work as a short term rental.

Whatever you desire up, there is a house that can make it a reality. Happy dreaming!

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Mortgage lender moving office from Fort Mill to southwest Charlotte

A mortgage lender is moving its local call center from Fort Mill to southwest Charlotte. Home Point Financial recently signed a five-year lease for 23,517 square feet of office space at Whitehall Corporate Center VI, at 3525 Whitehall Park Drive. The company’s local branch is currently at 3023 HSBC Way in South Carolina. “Geographically, Charlotte gives us a broader access to clients,” said Howard Nathan, head of finance at Home Point Financial, adding the lease in Fort Mill was also set…
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Mortgage lender moving office from Fort Mill to southwest Charlotte

A mortgage lender is moving its local call center from Fort Mill to southwest Charlotte. Home Point Financial recently signed a five-year lease for 23,517 square feet of office space at Whitehall Corporate Center VI, at 3525 Whitehall Park Drive. The company’s local branch is currently at 3023 HSBC Way in South Carolina. “Geographically, Charlotte gives us a broader access to clients,” said Howard Nathan, head of finance at Home Point Financial, adding the lease in Fort Mill was also set…
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SkyHouse hosting grand opening event for park, VetweRx (PHOTOS)

SkyHouse Uptown is opening its outdoor park six stories above North Church Street this weekend. Called SkyPark, it features a regulation-size tennis court, an athletic field and two regulation bocce ball courts on a little less than 1 acre above the mixed-use project’s parking deck. There are also pergolas, grilling and seating areas with fire pits, a putting green, and a walking trail, in addition to a walk for large and small dogs and a dog-washing station. The grand-opening event is 4 to 7…
Posted on

SkyHouse hosting grand opening event for park, VetweRx (PHOTOS)

SkyHouse Uptown is opening its outdoor park six stories above North Church Street this weekend. Called SkyPark, it features a regulation-size tennis court, an athletic field and two regulation bocce ball courts on a little less than 1 acre above the mixed-use project’s parking deck. There are also pergolas, grilling and seating areas with fire pits, a putting green, and a walking trail, in addition to a walk for large and small dogs and a dog-washing station. The grand-opening event is 4 to 7…
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Low inventory brings year-over-year sales down in March

Real estate is a supply and demand game, and the Charlotte region felt the crunch of low inventory in March with year-over-year sales dropping 1.4%.

The Charlotte Regional Realtor Association’s March figures released April 8 listed residential sales of 3,254 properties, down from 3,301 homes in March 2015.

It stands to reason sales are down when inventory for same period dropped 27.8%. According to CRRA’s report, the region has just 2.8 months of market inventory, with 10,145 properties for sale. Monthly inventory rose 2.1% or 210 listings.

This remarkably low inventory shifts the advantage to the seller. Typically, 6 months of inventory is what is called a “balanced” market, where the inventory level favors neither the buyer or seller. More than 6 months is considered a buyer’s market; less than 6 months is a seller’s market.

Year-ago inventory levels were nearly 4.5 months or 14,046 properties for sale.

“The CarolinaMLS region, much like the nation, continues with low inventory, which has resulted in a slow start to the spring selling season. However, from a quarterly perspective the region’s home sales are on par with last spring, up 0.3 percent compared to the first quarter of 2015,” said CarolinaMLS President Maren Brisson-Kuester.

Monthly sales increased nearly 39% over February’s levels, however, and the average list price rose nearly 29% to $368,292 from March 2015.

Other area inventory levels also dropped considerably – Inventory for the City of Charlotte fell almost 36% to 2,172. For all of Mecklenburg County, inventory dropped 33.1% to 2,944, and Union County inventory is down 25.6% to 888 in March 2016.