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Lennar and CalAtlantic to Merge

Lennar Corp. and CalAtlantic Group Inc. announced a merger agreement yesterday. This $9.3 billion valued deal would poise the combined company to be one of the country’s leaders. The merger will mean 240,000 homesites in 49 markets across 21 states will all be under one company. The deal has been approved by the boards of directors at both companies. The deal will put the combined company in the top 3 builders in 24 out of the top 30 markets in the country.

Lennar and CalAtlantic expect to execute the merger in the first quarter of 2018 with shareholder approval. The combined companies would have revenues of about $17 billion.

Both companies seem eager for the merger. They are predicting a strong market profitability for years to come. There is a solid homebuilding market with job and wage growth, consumer confidence, low inventory, and a production deficit. These factors make a merger a smart move as they can save on purchasing, land, labor, and overhead if they combine.

Lennar has 21 communities currently under construction ranging from Rock Hill, SC up to Mooresville, NC. Most of these communities have price ranges in the $200,000’s to the $500,000’s. They offer mainly single-family homes with a few multi-family projects.

CalAtlantic has 41 communities under construction in Charlotte and surrounding areas with 142 quick move-in homes. Most of these communities have price ranges in the $200,000’s to the $600,000’s. Most homes are single-family, but they do have a few townhome projects currently in the works.

Both builders have been in the Charlotte area for a long time and are well respected for building quality homes and neighborhoods. Many of these have amazing amenities, fantastic locations, and all of the upgrades that people want for the way we live today.

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

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Spotlight: Estates at Oakhaven

If you are looking for new construction homes in Ballantyne, Estates at Oakhaven might be just what you have been waiting for. There are 46 elegant full-brick homes in the project close to all of the amenities Ballantyne has to offer, from golf to dining, to shopping, entertainment, parks and more.

Construction is currently underway in Estates at Oakhaven. There are six floorplans available to build. Here are some of the details. Remember, these are starting points, they can be customized in numerous ways to make them perfect for you and your family.

  • Waverly – starting from $472,990, 3,054 square feet, 4 beds, 3.5 baths, 2 garage, 2 story
  • Oakwood – starting from $480,990, 3,323 square feet, 5 beds, 3.5-4 baths, 2 garage, 2 story
  • Ellington – starting from $484,990, 3,014 square feet, 4 bed, 3 bath, 2 garage, 2 story
  • Drake – starting from $498,990, 3,329 square feet, 4 bed, 3.5-4 bath, 2 garage, 2 story
  • Chatsworth – starting from $503,990, 3,383 square feet, 5 bed, 4.5 bath, 2 garage, 2 story

If you don’t have the time or the ability to start from the ground up, there are 5 quick move in homes, two ready now, and three ready in December.

One of the major draws to the entire Ballantyne area are the schools. Estates at Oakhaven is currently zoned for top rated schools. There are two different elementary schools, Hawk Ridge and Elon that children in Estates in Oakhaven could attend. They would then feed to Community House Middle and Ardrey Kell High Schools. Please verify school assignments as they are subject to change.

Estates at Oakhaven is truly a community within a community. If you are interested in a home in this great area, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Last Two Homes Available in Arbor Way II

Now is your last chance to get in on the ground floor in Arbor Way II. There are only two homes left where you can be the original owner. These energy efficient homes are nestled along Sardis Road just across the street from James Boyce Park and Charlotte Christian School. Don’t miss the opportunity to own one of these amazing homes.

Builder Meritage Homes developed these homes to be energy efficient. This is especially important because these homes are large at over 3,000 square feet each. Heating and cooling a space this large can be costly, but with energy efficient heating and cooling, great insulation, upgraded windows, and more, costs are kept to a minimum saving you and your family thousands of dollars on utility costs.

The location of Arbor Way II is fantastic. Just minutes away from SouthPark, Ballantyne, and Uptown Charlotte you can get anywhere with ease. A night out is as easy as a trip to SouthPark for the pops in the park, a great restaurant, or a stroll past the shops. A trip to Uptown will have you ar sporting events, concerts, art museums, restaurants, nightlife and more.

There are great schools, literally across the street as well as zoned for the neighborhood. There are also private, preschool, mother’s day out, and preschool options close by. Please verify school assignments as they are subject to change.

Homes in Arbor Way II are grand. Many of them have 5 bedrooms and 4 and a half bathrooms. Open floor plans are common with large kitchen islands for gathering spaces. Great rooms typically have ten foot ceilings and fireplaces. Upstairs has flex space that can be a game room, home office or playroom. Many plans have formal and informal dining spaces. All have two car garages and are two story plans.

In the past year, homes in Arbor Way II have sold for between $560,000 and $649,034 with an average sale price of just under $600,000. The two currently listed homes are offered at $524,900 and $544,900 respectively.

If you are interested in owning one of the remaining homes in Arbor Way II, or any other home, give us a call at (704) 525-4045. You can also view current listings on our website here.

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Limited Opportunities in Brentwood

If you want all of the amenities of Ballantyne, with low South Carolina taxes, Brentwood is your place. This exclusive enclave of 20 homes is under construction now and with 5 quick move-in homes could be yours as soon as you can close.

Located just North of the intersection of Harrisburg Road and Elmsbrook Road, Brentwood is technically in Indian Land and is zoned for Indian Land school system. Harrisburg Elementary School, Indian Land Middle School, and Indian Land High School service the neighborhood. There are also many private, daycare, mother’s day out, and preschool options close by. Please verify school assignments as they are subject to change.

Ballantyne is just 3.5 miles away from Brentwood. This means all of the shops, entertainment, fitness centers, parks, and more are at your fingertips. There is also easy access to I-485 which will get you quickly to Uptown Charlotte, Charlotte Douglas International Airport, Scarowinds, SouthPark and many more locations.

Builder Essex Homes has 4 lots available to build from scratch. There are also 5 quick move in homes, and a number of other homes currently under construction where you can add your personal touches to make the home perfect for you and your family. Each lot in the neighborhood is at least half of an acre so you will have plenty of room to stretch out and play. This also helps accommodate outdoor living spaces that will remain private.

There are 8 plans to choose from in Brentwood. Essex has numerous options so you can customize a home to meet your needs.

  • Ballantyne – 3,431-3,947 square feet, 5-6 bedroom, 3-4 bathroom
  • Katherine – 4,135-4,697 square feet, 5-6 bedroom, 2.5-4.5 bathroom
  • Newberry – 3,489-4,240 square feet, 4-6 bedroom, 2.5-3.5 bathroom
  • Remington – 3,132-4,120 square feet, 5-6 bedroom, 2.5-3.5 bathroom
  • Scottsdale – 3,149-4,109 square feet, 3-4 bedroom, 2.5-3.5 bathroom
  • Springfield – 3,980-4,480 square feet, 5-6 bedroom, 3.5-4.5 bathroom
  • Summerlin – 2,689-3,973 square feet, 3-4 bedroom, 2.5-3.5 bathroom
  • Winchester – 2,512-3,685 square feet, 3-4 bedroom, 2.5-3.5 bathroom

Homes in Brentwood begin in the high $300,000’s. Current listings range from $463,500 – $554,900. Exteriors are 4-sides brick or cement siding. Each home has a side load 2 or 3 car garage. All streets in the neighborhood are cul-de-sac so there is no cut-through traffic.

If you are interested in learning more about Brentwood, give us a call at (704) 525-4045. Remember that the builder pays all Realtor fees so make sure you have representation. We can help guide you through the entire process of customization and will always advocate for you. You can also view current listings on our website here.

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Get in on Exclusive Elegance in Wyndmoor

Century Communities, Sinacori Homes and LiveWell Homes are bringing an exclusive offering in Marvin called Wyndmoor. With just 12 homesites on two cul-de-sac streets, a pond, and walking trails, the privacy in Wyndmoor can’t be beaten. This alcove neighborhood has stunning homes close to restaurants, shopping, parks, and coveted Marvin Ridge schools.

Homes in Wyndmoor are grand. Lots are over half of an acre and homes are large as well with at least 3,600 square feet. Exteriors are full brick with European styling. Side-load three car garages are part of each floor plan that we have seen so far.

LiveWell Homes has one home currently available. This local homebuilder has been around for 50 years bringing quality homes to the Charlotte area. This home has 6 bedrooms, 5 and ½ bathrooms and laundry rooms on both floors. A large open kitchen with giant island, butler’s pantry and wet bar anchor the first floor. A two story great room is perfect for entertaining and contains coffered ceilings and custom moldings and fireplace.

Century Homes has two floorplans to choose from, the Newport and the Holly. They have one completed home available for sale as well as opportunities to build a home from the ground up. There are numerous ways to customize these homes to make your perfect space for your family. You can add a home office, guest suite, and many options for flex space.

Their current home they have available has 5 bedrooms, 4 ½ bathrooms and 4,889 square feet of living space. Like the LiveWell Home, it has a gourmet kitchen, and great room with dramatic coffered ceiling. Upstairs it has a master suite, three additional bedrooms and flex space in the loft.

Students in Wyndmoor currently attend Sandy Ridge Elementary School, Marvin Ridge Middle School, and Marvin Ridge High School. These desirable schools rank 10 out of 10 on CarolinaSchoolHub. There are also many private, daycare, mother’s day out, and preschool options close by.

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

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Spotlight: The Retreat at Rayfield

Less than six miles from Ballantyne sits The Retreat at Rayfield. This new neighborhood boasts a private setting and amazing homes. Located in desirable Indian Land, these homes have convenient access to I-485, I-77, I-85, and Uptown Charlotte. Lennar and Taylor Morrison Homes are both represented in the neighborhood and have many different options to make a house in The Retreat at Rayfield into the home of your dreams.

Lennar Homes has a model open in their Traditions collection. These homes have craftsman styling with modern floorplans. They range from ranch style to three stories with optional basements, master retreats, three car garages and outdoor living spaces.

Home prices start in the $304,900’s to the $410,600’s. Square footages range from 2,041 to 5,641. Homes have between 2 and 4 bedrooms and have 2-3.5 bathrooms.

Taylor Morrison Homes are offering slightly larger homes in The Retreat at Rayfield. Lost average over ⅓ of an acre and homes start from the $300,000’s. They have six floorplans to choose from and lots of possible ways to customize the homes to meet your needs. Floor plans are typically between 3,097 to over 6,000 square feet. These signature series homes have 10 foot ceilings on the first floor, two or three car garages, gourmet kitchens, and master suites inspired by posh boutique hotels. Many homes have sliding glass door walls to allow the outside to come in. Additional options include mother-in-law suites, basements, home gyms, and butler’s pantries.

Amenities in The Retreat at Rayfield include a clubhouse, fitness center, community kitchen, conference room, playground, and resort-style swimming pool with splash pad.

The Retreat at Rayfield is zoned for award winning Indian Land public schools. This includes Indian Land Elementary, Indian Land Middle, and Indian Land High Schools, all within three miles of the neighborhood. These coveted schools and lower South Carolina taxes make The Retreat at Rayfield a great place to call home.

If you are interested in a home in The Retreat at Rayfield, give us a call at (704) 525-4045 and we can schedule a tour. You can also view current listings on our website here.

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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.