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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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Neighborhood Spotlight: Waxhaw’s Barrington

Let’s check in with the fantastic new neighborhood of Barrington located in Waxhaw, North Carolina near South Charlotte in Union County. This beautiful new construction community posts a junior Olympic pool including a splash area, kiddie pool and open-air cabana. The neighborhood also has plenty of walking trails as well as a playground, making it a great place for young families.

There are currently six homes on the market in Barrington representing 3.1 months of inventory, which is lower than Waxhaw’s inventory as a whole, which is currently at 5.5 months. While Waxhaw has a fairly balanced market, Barrington’s inventory seems to favor the sellers.

However, the average price per square foot has gone down over the past year from approximately $120 per square foot to approximately $115 per square foot, which bodes well for buyers. Furthermore, the average sales price has remained fairly steady over the last 12 months.

Homes currently on the market range in size from just over 2800 square feet to just under 4100square feet and range in price from $349,900 to $469,900. Many of these homes also feature premium finishes, including hardwood floors, stainless steel appliances, granite or quartz countertops, and more.

This is a great family neighborhood in a sought-after school district featuring floor plans that cater to families and beyond.

If you want to learn more about Barrington, give us a call at (704) 525-4045. You can also view current listings on our website here.
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The Dilworth Home Tour is right around the corner

Get ready for some great architecture!

Each year, the Dilworth home tour offers visitors a chance to preview homes throughout one of Charlotte’s most popular historical and charming neighborhoods. The self-guided tour includes seven stunning homes all differing in size and architectural style.

This annual home tour will be taking place on Friday, September 15 from 6 to 9 PM, and on Saturday, September 16 from 10 AM to 4 PM. Charlotte’s oldest home tour is organized each year by the Dilworth Community Association (DCA) with proceeds of ticket sales benefiting the Dilworth community. Tickets for the tour are $25 and can be purchased at the Dilworth community association website.

While it is a self-guided tour, attendees should allow approximately two hours in order to be able to view all of the art, architecture and sheer square footage included on the tour. Homes on the tour include 410 East Park Ave., 830 East Park Ave., 317 East Kingston Ave., 1300 Myrtle Ave., 1239 Belgrave Pl., 1214 Belgrave Place, and 804 East Worthington Ave.

The Dilworth home tour is a fantastic opportunity to get a much closer look at the beauty and uniqueness of this historic neighborhood. For more details and information on the Dilworth home tour and all it has to offer, be sure to check out the full article at Charlottefive.com.

And, for more information on Dilworth or the homes on the market there, give us a call at (704) 525-4045. You can also view current listings on our website here.

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In These Markets, You’ll Earn Enough to Cover Rent—and Then Some

Reasonable rent and a solid-paying job? Dream on…right?

According to a recent analysis by LinkedIn and Zillow, there are dream markets for renters—if their field of choice is finance, healthcare or technology.

The analysis identified markets where renters earn in excess of the necessary income to support costs of living, taking into account indicators such as “labor market velocity,” “job listings,” “salaries,” and “rental housing costs.”

By sector, renters have the most left over in:

Finance

  1. Charlotte, N.C.
    Disposable Income: $3,793 (51.2 percent)
  1. Dallas/Fort Worth, Texas
    Disposable Income: $3,597 (53.4 percent)
  1. Phoenix, Ariz.
    Disposable Income: $3,249 (50.6 percent)
  1. Boston, Mass.
    Disposable Income: $3,198 (41.7 percent)
  1. Chicago, Ill.
    Disposable Income: $3,453 (48.8 percent)

Healthcare

  1. Phoenix, Ariz.
    Disposable Income: $3,793 (52. 1 percent)
  1. Indianapolis, Ind.
    Disposable Income: $3,111 (53.7 percent)
  1. Boston, Mass.
    Disposable Income: $2,861 (40.1 percent)
  1. Denver, Colo.
    Disposable Income: $2,580 (40.5 percent)
  1. Austin, Texas
    Disposable Income: $2,846 (48.7 percent)

Technology

  1. Seattle, Wash.
    Disposable Income: $5,493 (54.3 percent)
  1. Austin, Texas
    Disposable Income: $4,336 (53.8 percent)
  1. Pittsburgh, Pa.
    Disposable Income: $3,681 (56.4 percent)
  1. San Francisco Bay, Calif.
    Disposable Income: $3,964 (35.6 percent)
  1. Dallas/Fort Worth, Texas
    Disposable Income: $4,121 (54.9 percent)

Four markets—Austin, Boston, Dallas/Fort Worth and Phoenix—rank in the top five in all three sectors. Austin makes a showing in both healthcare and technology, but ranks higher for healthcare, while Boston boasts for healthcare and finance, but also ranks higher for healthcare. Dallas/Fort Worth has opportunities in finance and technology, ranking higher for finance, and Phoenix’s prospects are in finance and healthcare, ranking higher for healthcare.

“High demand and inventory shortages have driven up housing prices in some markets so much that even if you land a great job, the salary might not cover living within commuting distance,” says Dr. Svenja Gudell, chief economist at Zillow. “On the other hand, the nation’s most affordable housing markets don’t always offer plentiful employment opportunities. Housing is the biggest line item in most people’s budgets, so we did the math for you and found ‘sweet spots’—places with great job markets and housing markets that will leave you with some cash at the end of the month.”

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post In These Markets, You’ll Earn Enough to Cover Rent—and Then Some appeared first on RISMedia.

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New beer and music hall coming to Uptown

flightbarA new place is opening in uptown that is sure to be the best new spot for happy hour beverages or weekend afternoons with friends. The same creative business minds that brought Angry Ale’s, Draught, Libretto’s, Prohibition, Neighborhood Theatre and Pint Central to Charlotte, are working together to bring “Flight” to the Queen City.

Flight will be a “North Carolina-centric traditional beer and music hall,” slated to open in early April in the old Republic space, right next to the popular Bar Charlotte. The new venue gets its name from the phrase “First in Flight,” which you can find on every North Carolina license plate, really driving home the state-centric idea. In addition to state pride, the bar also promotes a commitment to the local community and economy. It strives to keep money in the Queen City, and gives Charlotte consumers another way to do this, by offering an environment in which to imbibe and enjoy themselves. The local craft beer scene has really renewed the desire to keep it local, from beer, to restaurants, to music.

Flight aims to offer a laid-back, neighborhood vibe without dress codes or dance parties. The beer will certainly be a focus, with 80 offerings on tap, including all of the Charlotte staples and other Carolina brews, like Wicked Weed from Asheville and craft brews from Raleigh and Wilmington. There will be food to complement the wide range of beers, with a traditional beer garden menu, including homemade brats.

The music will be diverse, and will include a house band and local groups performing weekly, as wells national acts performing a few times a month. The venue also plans to have open mic nights on the schedule for up-and-coming local singer/songwriters.

For more details on Flight and the entrepreneurs behind it, check out the article at charlottefive.com.