Matthews – Mint Hill – Page 3

October 11, 2016

Rental Rates Rising in the Queen City – Great Time to Buy

Now looks like a great time to upgrade from renting to buying. Zillow predicts a rise in rental rates of 3.2% over the next year in Charlotte. This is well above the nation’s average of 1.7%. With interest rates remaining at historic lows, what have you got to lose?

If you are still on the fence, here are some advantages and disadvantages of buying a home you might want to consider.

Advantages:

Greater Privacy. Buying a home, unless it’s a condo or townhome, means you don’t share walls with anyone. This can be great if you want to play loud music, host a dinner, or just have a dance party. This also means fewer restrictions on pets, children, number of cars, etc.
Investment. Typically, homes increase in value over time building equity. This can make for a great nest egg for the future, or to help you move up to a bigger home from a starter home. If you pay your mortgage in a timely manner, it can also boost your credit score.
Stability of costs. If you have a fixed-rate mortgage, your costs are much more predictable with no hikes in rent. You may still have fluctuations in utilities and taxes.
Tax advantages. The mortgage interest and property tax portions of your mortgage are tax deductible. This can mean the difference between owing taxes and getting a refund. Because mortgages are front loaded with interest, you typically have the largest tax write off in the first years you have a mortgage with deductions diminishing each year until you fully pay off the mortgage.
Community ties. A mortgage is a long-term commitment, typically 30 years, and can help tie you to your community more tightly than renting. Renters can be more transient as the commitment is typically for 1 year.
Personalization. You can paint the walls whatever color you like, heck, you can take out walls or build new ones. When you own, you have much greater freedom to upgrade you home from upgrading, to updating, to changing completely.
Second income stream. When you own a home, you have the potential to rent out a room, make your home a vacation rental, or buy a duplex and rent out half. There are many ways to have someone else help pay your mortgage.

Disadvantages:

Commitment. It is much harder to sell a home than break a lease. This makes it harder to move to another city.
Maintenance. When you own, there is no landlord to take care of a leaky toilet or broken air conditioner.
Expense. Typically buying your first home requires a down payment, closing costs and moving expenses. This is usually much higher than security deposit and first month’s rent for a lease agreement.
Investment. Any investment carries some risk. Your home may not appreciate much in value, especially in the first few years. It can take 3-5 years in a mortgage to come out ahead compared with renting.

If you think you are ready to take the plunge into homeownership, one of our Realtors would love to work with you.

September 30, 2016

Spotlight: Mint Hill’s Belle Glade

Just South of Albemarle Road at the Southeast corner of Arlington Church Road and Cabarrus Road sits a new construction neighborhood called Belle Glade. This Mint Hill community has homes already completed, or you can customize your home during the building process.

The Elements collection from Builder True Homes features homes starting in the low $200’s. Semi-custom floor-plans range in size from 2,309-4200 square feet. These homes feature open concept living spaces, plenty of storage, large kitchen islands, stainless steel appliances, hardwood flooring and more. With 14 floor-plans to choose from, there really is something for everyone in Belle Glade.

Homes in Belle Glade have between 3 and 5 bedrooms and between 2-4.5 bathrooms. Many plans have home offices, built-in cabinetry, trey ceilings, mud rooms, second floor laundry rooms and many coveted additional features.

Just 77 home sites all around a third of an acre comprise Belle Glade. While Belle Glade may lack the amenities of larger master-planned communities, it is poised to be a quiet tight knit community.

The location is great too, with easy access to I-485, a commute isn’t a chore. Belle Glade is 35 minutes from Charlotte Douglas International Airport, and 30 minutes from Uptown. Shopping is convenient as are fitness centers, grocery stores, dining, movies and more.

In the past year, 7 homes were sold in Belle Glade at an average sale price of $271,192. Currently there are 5 homes on the market with 3 under contract. One of the homes is completed, and the other 4 are under construction.

Make sure to bring your Realtor from New Angle with you before you sign any paperwork with a builder. Your Realtor will be able to give you invaluable advice about how to up-fit your floor-plan. They will also be able to tell you which features will be best to have for later resale, and they can help you draft the most advantageous contract. If you have any questions, don’t hesitate to give us a call.

September 20, 2016

Light Rail Extension Plan Connects Uptown with Matthews

Charlotte Area Transit System has published a long range plan for expansion. The highlight of the plan is the Silver Line which would connect Charlotte from I-277 to Central Piedmont Community College’s Levine Campus in Matthews. The 13-15 mile route would run alongside Independence Boulevard then transition to the median on Monroe Road. The line would then follow Matthews Township Parkway before terminating at CPCC’s Levine Campus.

The plan was proposed during a city council meeting this week. Proposed cost is around $2 billion and is slated to be part of the 2030 transit plan. If approved, extension plans for eventual connection of the Silver Line to Charlotte Douglas International Airport is likely. The plan should also include ways to integrate the Blue and Silver Lines more fully into Uptown Charlotte.

This plan is a long range one, and the line would not be expected to open soon. The planning and site work together could take 10-13 years after funding is approved. This means it could be 20 years until riders would be able to commute using the line. For example, the Blue Line Extension up to UNC Charlotte has been underway since 2006 and is slated to open late next year.

This means that now is a great time to be investing in real estate in the Matthews area and anywhere along the proposed Silver Line. If you are looking for a home for yourself, there are many great options between Matthews and Uptown. You could also look for investment property, either commercial, or residential to hold. This could give you great benefit as the areas along the line should steadily rise in value as the plan is adopted and work begins.

If the Silver Line takes off like the Blue Line through SouthEnd, there is great potential for community investment. The Silver Line could also ease traffic for anyone commuting via Independence Boulevard and Monroe Roads. This could make neighborhoods not directly on the line more attractive as you would be able to park and ride, or have a more pleasant commute with less traffic.

If you or someone you know is thinking about purchasing real estate in the area, contact our expert Realtors to help you make the most of your money.

August 11, 2016

July Market Report

For the second straight month, the Charlotte Regional Realtor Association report shows that home sales have cooled slightly in the entire MLS reporting area. In June, sales were down over the previous year by 3.3% from 4,577 in 2015 to 4,425 in 2016. In July, sales were down further from 4,286 to 3,900 down by 9%.

Three early months of the year, February, April and May, were up over last year so the YTD numbers are slightly up, 4.4% from 24,105 in 2015 to 25,159 for 2016.

The price homes have been selling for continues to rise from $252,874 in 2015 to $269,426 in 2016. These price increases appear to show that the cool down in the market may be due to price increases. With only a three month inventory on hand, there continues to be a sellers market which is supporting the price increases.

Pending sales have increased over last year by a whopping 20.4% from 3,773 to 4,543. This makes it look like next month should be a better month as most of those pending sales should come to a close. This means that there are still motivated buyers out there that are willing to pay the higher prices for homes.

When you look at the City of Charlotte on the report, you see that there are only 2 months of inventory in the city skewing the market even further in favor of sellers. Prices for homes in the city have gone up almost 5% just this year alone.

A few places defy the trend, Waxhaw, NC saw an increase in home sales from last year of 3.5%. Uptown Charlotte also saw an increase in home sales last month of 25%. Fort Mill and Rock Hill, SC saw home sales about the same as last year, only one additional sale this year over last for each area.

The news is tough if you are a buyer. There isn’t as much inventory as you would like to have the choices available to you. In addition, you will probably have to pay more money for the house you finally get. However, if prices continue to rise, you will be in good shape if you need to sell.

If you are a seller right now, looks like the news continues to be good for you. Your home should sell for more money than it would have last year and you even have the potential for multiple offers with inventory as low as it is right now.

For now, it’s just a wait and see situation to see if the market begins to correct itself. If we get to the point where there is 6 months of inventory, it will be a more balanced market between buyers and sellers. This kind of equity helps buyers and sellers be happier with their transactions.

July 25, 2016

June 2016 Market Statistics

Last week, the Charlotte Regional Realtor Association released the market statistics for the month of June. Comparing year over year, 2016 continues to be a good year for real estate in the Charlotte area.

In the City of Charlotte, new listings were up 8.1% over last year and closed sales year to date were up 2.6%. Inventory of homes was down 31.6% from last June showing that the sellers market trend is continuing to hold. Homes were also on the market for fewer days before being sold, down 32.7% from last year from 52 days to 35 days.

In Fort Mill, SC average sales price for a home was up 9.8% from last year from $306,183 to $336,179. Sellers in Fort Mill are getting an average of 97.7% of list price when they sell. There are also 17.5% more new listings on the market this year over last year.

Uptown Charlotte saw increases in new listings, and pending sales, but had a 22% reduction in the number of pending sales from last year at the same time. Year to date, the pending sales were up 18.9%. Uptown is also a strong sellers market right now as there is only 2.5 months supply of inventory, a reduction of 45.7% from the same time last year.

York County, SC is having a great month with a 13.4% increase in new listings, reduction of inventory of 28.9%, and increase in average sales price of 7.2% from $252,715 to $270,908. Year to date, median sales price is up $20,000 from last year with homes on the market 22.6% less time from 84 days to 65 days from list to sale.

It is still a great time to buy a home with interest rates continuing to be low. It is also a great time to sell as there is less inventory on the market, but buyer demand appears to remain strong.

July 17, 2016

Demand for Townhomes Grows in the Queen City

New townhome projects are proposed for two sites in South Charlotte. The Charlotte Business Journal reported this week that sites at South Tryon and Beam Road, and a parcel in SouthPark on Sharon Road that currently has Holy Covenant United Church of Christ are in the works to be converted into townhome complexes. BNA Homes has proposed a development with as many as 127 townhomes on the South Tryon site. NVR Inc. has proposed 24 townhomes for the SouthPark site.

Demand for townhomes has grown greatly with many townhome communities from Uptown Charlotte and throughout the major transit corridors. Townhomes are attractive to young professionals as there are numerous amenities and locations are usually close to transit or to walkable areas. They are increasingly becoming attractive for older people as they downsize after children leave the home.

Townhome living can have many advantages for a busy person as they usually have most or all exterior maintenance and yard work taken care of by a Homeowners Association. Many townhome communities include fitness facilities, pools, clubhouses, dog parks, and walking trails. Demand for upscale living has increased the need for luxury features such as granite, wood floors, stainless appliances, built-in surround sound, and garden tubs.

Charlotte has many existing townhome communities in and around NoDa, Uptown, Plaza Midwood, SouthPark, South End, Pineville, Matthews, and many more. There are also newly proposed developments to be built in Plaza Midwood, and NoDa.

If you or your family are looking for a townhome community in the Charlotte area, check out our website here or contact one of our Realtors at (704) 525-4045.

July 14, 2016

Spotlight: Ashley Farms

Novant Health has almost finished it’s new $26 million project upgrading the women’s services at it’s Matthews hospital. This is great news for anyone starting a family that lives nearby as they have added 10 new labor and delivery rooms, made more space in the special care nursery, added childbirth classes, lactation consultation area, gift shop and bistro. The space will also serve women needing mammography, maternal fetal medicine, and gynecological procedures.

A wonderful neighborhood near the hospital is Ashley Farms. Residents here will be just minutes away from the hospital if they choose to use it for any of their health care needs.

Ashley Farms is a residential neighborhood in Matthews with 237 detached homes built in the early 1990’s by Squire Homes, Inc and M/I Schottenstein Homes, Inc. Homes are one and two story floor-plans. Some homes feature open floor-plans with kitchens open to living areas, vaulted ceilings, fireplaces and backyard decks. Most homes have 3 or 4 bedrooms and 2 to 2 ½ baths. Mature trees and wooded back yards, some backing to a pond along Irvins Creek, make this neighborhood feel secluded when you are just 10 minutes from Uptown Charlotte!

Located just off Margaret Wallace Road near the intersection with Highway 74, Ashley Farms is convenient to Uptown Charlotte, Charlotte Douglas International Airport, restaurants, parks, fitness centers, entertainment and more.

In the last year, homes in Ashley Farms have sold for between $90,000 and $175,000 making it really affordable. Currently, as of July 13^th, there are 7 homes on the market and all of them are under contract. Listed homes are going between $145,000 for a 3 bedroom, 2 bath home with 1,248 square feet and $205,000 for a 4 bedroom, 2 bath home with 1,883 square feet.

July 8, 2016

Spotlight: Deerfield Creek

Check out Deerfield Creek, one of Charlotte’s most desirable family neighborhoods in Charlotte. Deerfield Creek has everything you want out of a neighborhood. Large homes, great schools, perfect location and a supportive community.

Located close to the I-485 loop, Deerfield Creek is convenient to shopping and entertainment while being 30 minutes from Uptown and an easy drive to the airport. Right around the corner are Stonecrest Mall, The Arboretum, Ballentyne Village, Providence Commons and the Promenade at Providence. Deerfield Creek is also just minutes away from the Siskey YMCA.

Amenities include pool, open-air cabana, tennis courts, soccer field, basketball court, playground and walking trails that connect all of the streets. Residents also gather for an annual lobster boil, men’s golf outing, ladies’ bunco, block parties, book club and many children’s activities throughout the year.

Currently Deerfield Creek is zoned for wonderful schools including McKee Road Elementary School, J.M. Robinson Middle School and Providence High School. See Charlotte-Mecklenberg Schools here as school assignments can change from time to time.

Homes in Deerfield Creek were built by two builders, Hampshire Homes and John Wieland Homes. There are approximately 200 homes in the neighborhood ranging in size from about 3,000 to about 6,000 square feet. They were built between 1997 and 2006. Homes are very open and spacious two or three story homes, some with basements. Homes have either full or partial brick exteriors and feature two or three car garages.

In the last year, homes in Deerfield Creek have sold for between $514,500 and $645,000 with an average sold price of $569,654. As of July 7^th, there are six homes on the market with one under contract. Listed homes range between $509,900 for a 5 bedroom, 5 bathroom home with 4,158 square feet to $650,000 for a 5 bedroom, 5 full bath, 1 half bath home with 5,443 square feet.

June 29, 2016

Resort Style Living in Callonwood

Callonwood is a resort style community with great amenities geared towards a low-maintenance lifestyle. There are many styles of homes including single-family homes with easy to tend to small lots perfect for professional families or seniors. There are townhomes with exteriors completely taken care of by the home owners association with rear-entry garages. In the Estates section, there are larger homes with large lots, luxury features and finishes. Most of the homes have craftsman styling with front porches, stone and shingle accents.

Amenities include a large clubhouse, pool with waterslide, sports fields for soccer and baseball, playground, picnic area and more. The robust Homeowners Association has community events for all ages, book club, bunco club and swim team.

Located in Union County Callonwood takes advantage of lower taxes while still being close to everything you need. Bounded by Potter Road and McKee Road, the main entrance is off of Pleasant Plains Road. I-485 is convenient by way of Old Monroe Road. Uptown Charlotte is just a 30-minute drive without traffic and 35 minutes without traffic to Charlotte Douglas International Airport.

Callonwood is located in Stallings, but is adjacent to Matthews for easy access to shopping, grocery stores, restaurants and pharmacies. The Siskey YMCA is close by with health and sports programs. Downtown Matthews has numerous parks, festivals, a farmers market, library, along with several restaurants and other shops only a short drive away.

Homes in Callonwood range in size from around 2000 square feet to just over 5000 square feet. As of June 29^th, there are 15 homes on the market with 7 under contract. They range in price from $230,000 to $530,000 with an average list price of $350,340. In the last year, homes in Callonwood have sold for between $185,000 and $427,000 with an average sold price of $287,000.

June 2, 2016

Spotlight: Matthews Plantation

The Charlotte Business Journal reported today that Matthews is the best place in North Carolina to sell a home. Charlotte came in close behind at 3rd and Pineville came in at 7th. While this comes as no surprise to people already living in and around the Queen City, it is really nice to see it confirmed. The study by SmartAsset used four factors for their study: stability, affordability, fluidity and risk of loss with stability accounting for 40% of the results and the other three factors at 20% each.

Matthews Plantation is a beautiful wooded neighborhood in the Town of Matthews. It is an all brick community of 180 homes built by Trotter Builders. The homes are deed restricted so they operate under the bylaws and covenants of a homeowners association currently managed by Hawthorne Management Company. The management company helps facilitate a lake with fountain and fishing pier, picnic area, tennis courts, playground and neighborhood activities and events for all ages throughout the year.

Matthews Plantation is conveniently located off of Pleasant Plains Drive near the intersection with McKee Road. It is very convenient to I-485 and just a 30 minute drive to the airport with no traffic. You can also get to Uptown Charlotte in just under 30 minutes without traffic.

There are plenty of options for eating out that are just a quick drive away. Ballantyne Commons is just minutes away with shopping, restaurants and fitness options. Nearby is also Mecklenburg County Sportsplex.

Homes in Matthews Plantation have sold in the last year for between $228,800 and $327,500 with an average sold price of $273,829. Almost all of the homes sold at or above list price.

Currently, as of June 1st there are three homes on the market ranging in price from $270,000 to $349,900. Two of the homes are under contract as of the writing of this article.