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Real Estate News: Final Portion of I-485 to Honor a Local Business Man

It was just announced that the final segment of I-485 outer loop will be named in honor of H. Allen Tate, Jr, the founder and CEO of the Allen Tate Companies.

Mr. Tate has served on the Charlotte Chamber’s Regional Roads Committee, Toll Roads Solutions Committee and others. Some peers feel without his drive and involvement throughout the years, I-485 would not be completed for many more years. The Charlotte Chamber President & CEO, Bob Morgan, said ” For the past 50 years, there has been no greater champion than Allen Tate for planning, funding and building of roads to meet the demands of our region’s growing population”.

What a great honor for a wonderful man. Congratulations Mr. Tate!

No date has been set for an opening or naming ceremony but it is in the works.

Summarized from an article on Charlotte Chamber website

Real Estate Tips: Home Repairs or Remodeling in Your Future?

If the answer is yes, then here are some great questions to ask your contractor to insure a successful project.
  • Is a building permit required for this work? Do I need to obtain one or will you?
  • Have you detailed the scope of the project and all anticipated costs as part of my written bid?
  • Have you included written specifics about the type of lumber and materials that will be used in my project?
  • Will my project impact any underground utilities, i.e. telephone, cable or gas lines? If so, will you take care of locating them?
  • Where will my construction materials be stored during the project?
  • Who is responsible for clean-up during or after the project is completed?
  • What deposit is expected prior to the start of the project?
  • Will any materials be delivered early? If so, we you be there for the placement of the materials?
  • Will you provide me with written information about your contractor’s license, general liability insurance and worker’s compensation insurance?
  • Will you provide me with business references (suppliers, code officials, etc…) and current, recent and past (2+ years) customer references for projects similar to mine?
  • Do you offer a warranty on your services? If so, will you provide me written information about the warranty and for how long it’s covered?

Real Estate Market: Charlotte, NC’s Rebound to Outpace Nation

MOORESVILLE, N.C. – The Charlotte region, including the Lake Norman area, will rebound faster than the nation as a whole from the economic downturn – although Charlotte area home prices will continue to drop until March, a leading economic forecaster predicts. “The employment base is more diverse, and this is an area people and businesses want to move to,” said Mark Vitner, senior economist with Wells Fargo in Charlotte. “We are the best alternative to Atlanta in the Southeast and, for some, the only alternative” because of proximity to Charlotte/Douglas International Airport. “This is still a desirable place for people to do business,” Vitner said, after a construction and real estate financing symposium at the Charles Mack Citizen Center on Thursday. Vitner was the keynote speaker at the Lake Norman Home Builders Association event. Vitner cited various major corporations that call the area home, including Ingersoll-Rand in Davidson, Lowe’s Companies Inc. in Mooresville and such new arrivals as Electrolux Major Appliances North America, which began a move in July to bring nearly 750 jobs to the University City area. The region offers a high quality of life at comparatively low-cost, he said. Its roads aren’t as congested as other metropolitan areas, he added. It may just take until next spring for the national economy to get back on track and the housing and commercial sectors to improve, said Vitner and other panelists at the forum. Panelists also included Lake Norman-area bankers, William Nurney of the Federal Reserve Bank in Richmond, Va., and Jim Felds, managing principal at Focustar Capital Group LLC, which manages about $975 million in projects in North Carolina and four other states. Vitner cautioned the 100 or so builders, real estate professionals and others in attendance that “the era of cheap and abundant credit is over. We’ll never see it priced the way it was.” He said housing prices won’t improve until the traditional spring buying season. “We’re expecting a very sluggish recovery for housing,” he said. And while the Charlotte area will have added at least 16,000 jobs this year, 71,000 jobs were lost during the recession and many of the new jobs don’t pay as well, he said. Still, he said after his talk, the region is better positioned economically than many other areas. “People and companies are still moving here,” he said. “We’ve seen positive industrial announcements this year.” (Report by Joe Marusak of Charlotte Observer 8/2010)

Real Estate Market: America’s Top States for Business

North Carolina is in The Top 5 

By Pat Riley
More good news was released this week discussing the bright future of North Carolina. . After a two year absence, North Carolina was ranked #4 in CNBC’s 2010 Edition of “America’s Top States for Business.”  So, what does that tell us? 
North Carolina Ranked #4
  We know that folks are retiring here. We know for a fact that the population is growing organically.  We know the state of North Carolina, through its state university systems and private universities, is attracting bright young talent.  We know that young people who go away to school return back here to build a career and start a family.  We know that folks seeking a second career are migrating here to retool and regenerate.  We know that career professionals who are self employed, and need an international airport, choose us for their landing pad. All of these contribute to steady growth and are the icing on our cake. The cake itself is the statistics, facts and rankings illustrated in this report.  Being ranked 4th in America for business friendliness and attractiveness is the best, most fortified, foundation we could ever hope for.  We moved up in the rankings this past year which bodes well that our Chamber of Commerce(s), our public/private partnerships, and our economic development incentives are paying off and are successful in their quest to promote the benefits of living here.  Moving forward, we must also be diligent to control expenses and tax increases so that we stay competitive and continue our climb up the chart.

Real Estate: Charlotte, NC a “New Heartland City” of the Nation?

A detailed study just released from the Brookings Institute in Washington names Charlotte as one of the country’s “New Heartland” cities – large metropolitan areas that offer the workforce a good quality of life and the kinds of jobs economists predict will move the U.S. forward in the years to come. The report, entitled “The State of Metropolitan America,” offers a glimpse of what’s expected to be the results of the 2010 Census. Here are some other quick statistics of interest on the Queen City:
  • Total population (MSA 2009): 1,701,799
  • Growth: + 27 percent
  • Change in foreign-born population (2000-2008): + 77.8 percent
  • Median household income: $55,394
  • Percent of population 25 + with bachelor’s degree: 32 percent
To read the complete report, click here.

Real Estate: Sally’s Y Breaks Ground

On Saturday April 24th, the first shovels hit the ground for the long-awaited ground breaking ceremony. David & Jo Clark’s dreams finally became reality. After years of planning and numerous donations, the Denver community is step closer to the Y and the facility is anticipated to open the doors January 2011.

Sally’s Y is named after Sally McKenzie Clark, who died in a tragic car accident along with her cousin, Anna Grace Jordan, on April 4th 2004. Sally and Grace were only 19 when a drunk driver took their precious lives. David and Jo Clark , Sally’s parents, thought the YMCA would be a perfect fit to keep the youthful spirit of Sally alive. Sally had the same values as the YMCA,  faith & family. This theme will be seen throughout Sally’s Y along with the color yellow & sunflowers. Sally’s favorite flower was the sunflower and it symbolic to  happiness, strength, loyalty &  faith, just like Sally. Guests were given a packet of sunflowers and children were given plastic hard hats & small shovels as souvenirs of this historic day for the Denver community.

 The groundbreaking ceremony took place on the future site of the “Grace Chapel”, named after Sally’s cousin, Anna Grace Jordan. The ceremony included games, inflatables, musical entertainment & refreshments for the family.  A fun family event that will be remembered by all that attended for years to come.

Additional events took place on Sunday April 25th, Sally’s Y hosted the third annual Ride for Sally’s Y offering bike riders a chance to participate in a 25K, 50K or 100k. New this year, is the Girls on the Run 5K trail run. GOTR program is a non-profit organization that encourages preteen girls to develop self -respect and healthy lifestyles through their love of running. Both are great ways to show your support for Sally’s Y and promote a healthy life at the same time! Proceeds from this event go to Sally’s Y.

Real Estate: COMMISSIONS -The Breakdown


Commissions are split four ways to compensate all parties who make financial and time investments in successfully selling your property. Real estate agents and companies do not get paid until the transaction is closed and you have your proceeds from the sale.



Real Estate Market: Spring Forward

  Carolinas’ Economy Showing Signs of Recovery   If you look closely, the grey skies of the Carolinas’ real estate market are starting to part. For buyers and sellers paralyzed in the past two years by the economic downturn, spring is bringing rays of hope after a long winter of discontent. “Activity should be picking up strongly in late spring as buyers continue to take advantage of the tax credit, which will help absorb distressed properties and inventory,” said Lawrence Yun, chief economist for the National Association of Realtors. “With a downtrend in the number of homes on the market, values are beginning to firm but with great variance around the country.” In the Carolinas, average days on the market (DOM) for homes (from listing to contract) range from 99 in the Triangle to 115 days in Charlotte, according to BrokerMetrics. The median sold price for single-family homes continues to decrease, down 16 percent in Charlotte, 10 percent in the Triad and Upstate, and 7 percent in the Triangle, from February 2008, although median prices have begun to level as sellers are pricing more realistically. The most encouraging news, however, is announcements of job creation through relocations or expansions in all Allen Tate markets. Healthcare alliance Premier Inc., appliance leader Electrolux, and lawn equipment giant Husqvarna have announced plans to bring headquarters to the Charlotte region, resulting in more than 1,200 jobs. Siemens Energy will add 825 jobs by 2011, and Financial services outsourcer Zenta will bring 1,000 jobs to the region by 2015. The Triad region continues to grow with new jobs in the life and bioscience industry, with announcements by LabCorp (373 jobs) and Ameritox Ltd., (228 jobs) in Greensboro. Check vendor Harland Clarke Corp. brought 350 jobs to High Point during 2009. Significant announcements in the Research Triangle region include expansions of Duke University Health System (2,500 jobs); Affiliated Computer Services (465 jobs); and Credit Suisse (300 jobs); and the relocation of Deutsche Bank (319 jobs). In the Upstate, biotech and the automotive industry continue to dominate. Proterra brings 1,300 jobs with an automotive research facility at Clemson University. Hydraulics manufacturer Bosch Rexroth will add 50 jobs in Greenville County; American Truetzschler expands with 30 jobs in Greer; and Lab21 will create 65 jobs in Greenville.  You’ll be surprised how seeds of optimism will grow when nourished by the promise of a fertile economy. So if you’ve been waiting to buy or holding off selling, now is the time to spring forward.

Real Estate: Farmers Markets – A sign that Spring is near…

Well, of course! There are many different signs that Spring has arrived, birds singing, bulbs blooming, trees budding & of course warmer weather but a sign that may get overlooked is that local Farmers Markets reopen. Below is a list of some of the markets in our area. Catawba County
  • Conover Farmers Market  set to open in April – end of October (Location: 501 1st Avenue South, Conovor, NC 28613) Saturdays 8:00 am – 12:30 pm
Cleveland County
  • Foothills Farmers Market set to open in April – October (Location: Washington Street on the Courthouse Square, Downtown Shelby) Wednesdays & Saturdays 8:00 am – 1:00 pm
Gaston County
  • Gastonia Farmers Market set to open in June – November (Location: 410 East Long Avenue, Gastonia, NC  28054) Saturdays 7:00 am – 1:00 pm
  • Mt Holly Farmers Market set to open May 9th – August 29th (120 South Main, downtown Mt Holly) Saturdays 8:00 am – 12:00 pm
Lincoln County
  • Denver Farmers Market set to open Saturday May 1st  – September  (Location: Rock Springs School 3633 Hwy 16 North, Denver, NC 28037 ) Saturdays 8:00 am- sells out  
  • Lincolnton Farmers Market set to open Saturday April 17th –  Fall (Location: 225 West Water Street, Lincolnton NC 28092) Saturdays 7:00 am – sell out  &  starting 1st weeek in June – Tues, Thurs & Sat 7:00am – sell out
Mecklenburg County
  • Old Store Produce is open almost year round with seasonal items ranging from fruits & veggies in the spring to Christmas trees in the winter. (Location: 14720 Brown Mill Rd -Huntersville  704-992-6106)