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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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July Market Statistics

The housing market in the Charlotte continues to be strong this summer. All indicators are that sales are strong, they are up 3.1% year over year which is a rise of 127 sales. However, total inventory is still down year over year down to a 2.6 month supply of homes.

The monthly report from the Charlotte Regional Realtor Association also shows that sales slowed between June and July. Sales are down 473 homes from one month to the next. This appears to follow a yearly trend. In 2016 there was a dip in sales of 785 homes between June and July.

The 2.6 months of inventory are down 25.7% from June of 2016 when there was a 3.5 month supply of homes. There were only 10,174 homes on the market at the time of the report as compared to 12,685 in July of 2016.

There are a few factors that are keeping a shortage of homes on the market. Sellers are not listing homes the same way. There is a trend of homeowners staying in homes longer, not trading up from a starter home, or just buying their forever home from the beginning. With a lack of supply in the market, it is hard for sellers to sell until they have secured their next home. This leads to a catch-22 where sellers won’t sell because they have nothing to buy.

Builders are not able to make up the gap fast enough to add supply to the market to keep up with buyer demand. There has been a labor shortage for builders so they are relying on a smaller pool of talent and that inevitably slows down building.

New listings are up 5.9% from 5,123 to 5,427. Pending sales are also on the rise from 4,068 to 4,724 representing a rise of 16.1% year over year. This is a strong sign that the market is going to continue on the current trajectory.

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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Charlotte Neighborhoods Reshaped by Teardowns

As demand for homes close to Uptown Charlotte grows, teardowns appear to be inevitable. People have changed what they want out of a home, so original structures don’t meet the needs anymore. Many homes can be added on to get the space and functionality that is desirable now. But, many homes are too small, outdated, expensive, or out of style to easily modify. When this happens, buyers buy the house for the value of the land, then start over with a new construction design.

Many of the older neighborhoods in Charlotte have historical guidelines that prohibit tearing down structures. Those that don’t have such restrictions have seen a rise in teardowns and there is no apparent end in sight as demand seems to be growing. There have been teardowns in parts of Dilworth, Sedgefield and Montford for years, but now we are seeing a rash of them in Wilmore and Villa Heights as well as many areas that are further out from Uptown.

Many people love a new home built in a traditional close-in neighborhood. It allows for a shorter commute, close proximity to nightlife, restaurants, and in some cases walkable neighborhoods. Homes tend to take up much more of the land than the original structures. They can also be much taller than the original. These homes tend to have modern features that are extremely desirable right now. Many contain offices for working from home, high speed internet connections and wifi. They also tend to have open concept living spaces in the main living areas. Bedrooms tend to be large and may contain spa like bathrooms.

If you are interested in a new construction home in an existing neighborhood, give us a call at (704) 525-4045. We can also help you look for a property if you would like to build up a new construction home in place of an existing structure. You can view current listings on our website here.

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Get in on City Park Townhomes

Townhomes have long been a stepping stone towards buying a bigger home, or a wonderful place to downsize, but they are really for everybody. Ryan Homes is a new project called City Park that we’re really excited about. It has a perfect location and great amenities, all starting from the upper $230’s.

City Park is situated right off Billy Graham Parkway, 5 miles from Uptown and 3 miles from SouthEnd. Charlotte Douglas International Airport is just down Billy Graham Parkway so City Park is really convenient for business travelers and vacationers. SouthPark Mall is a quick drive away for luxurious shopping and dining.

Walkability score is high in City Park. New retail, office, and hotel space are all within walking distance. Renaissance Park is also just a quick walk away. The park is loaded with trails, tennis, beach volleyball, golf, mountain bike riding, and more inside it’s 145 acres. There are also many planned future retail projects that will only make City Park more desirable. A few minutes away is the farmer’s market, perfect for a lazy weekend stroll.

Ryan Homes is the builder for the project. They are offering 2 or 3 story townhomes with 1 or 2 car garages. Plans have 3 bedrooms and 2.5 bathrooms and up to 2,332 square feet of living space. There are four basic plans, the Mendelsshon two or three story and the Schubert two or three story.

Plenty of luxury features are included in the townhomes, and there are upgrade packages so you can customize your home. Upgraded features include granite countertops, stainless steel appliances, hardwood foyers and more. Options abound as you can choose a large coat closet or optional extra half-bath, large islands in the kitchen or second floor laundry. There are hundreds of ways to make the space your own.

If you are interested in owning a home in City Park, give us a call at (704) 525-4045. Remember, it costs you nothing to bring a Realtor with you when you purchase new construction. The builder pays the Realtor fees, but having a guide through all of the customization and decision making can be invaluable. You can also view current listings on our website here.

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Explore Berewick

If you are feeling the price squeeze looking at homes in South Charlotte, why not take a closer look at Berewick? This fast growing community in Steele Creek is building homes at a furious pace to keep up with demand. There are plenty of different options, from Townhomes to single-family homes with reasonable price points. This master planned community has something for everyone, all within 1,050 acres just 12 miles from Uptown Charlotte.

Berewick first broke ground back in 1999 and the first residents moved in more than ten years ago. They are on track to sell their 2,000th home later this summer, and are on track to eventually (most likely in 2018) have 3,000 homes, townhomes, and apartments. There is a 55 and older part of the project under contract right now, and a hotel to open next summer.

Pappas Properties is the master planner for the community. Their previous projects include Phillips Place, Metropolitan, Charlotte Cotton Mills, Birkdale, and Birkdale Village. With those projects behind them, they are bringing great knowledge and experience to make Berewick into a masterpiece.

Retail and commercial projects are following to support all of the people living in the community. Many restaurants are coming to the area as well as an already open 53,000 square foot Harris Teeter. The location is fantastic, with easy access to I-485, and convenient access to Tanger Outlets.

Homes in Berewick average a sales price of $284,860 with a high sale price in the last year of $393,996. Townhomes can be had for between $210,000 and $240,000. There are five national builders to choose from if you are looking to build a new construction home. DR Horton, Eastwood Homes, Lennar Homes, Mattamy Homes, and Ryan Homes provide many different floor plans to help you customize your dream home.

There is a planned Town Center with amenities and shops for residents to enjoy. An on-site community activities director provides events for neighbors throughout the year. Amenities also include the Manor House, swimming pools, walking trails, green space, volleyball courts and fitness center. The future Berewick District Park will also serve to provide residents with additional green space. Public access to Lake Wylie is only 10 minutes away if you are keen on a day on the water.

Children in Berewick currently attend Berewick Elementary School, Kennedy Middle School, and Olympic High School. There are also many private, preschool, and daycare options nearby. Please verify school assignments as they are subject to change.

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