Housing Inventory in Charlotte, NC. Decreasing

One barometer that housing "experts" use to say whether the housing market is recovering is the available inventory of homes for sale. The greater the number of homes on the market the longer it takes to sell...Thus the worse the market is. A balanced market (one that does not favor the seller or the buyer) is one with a six month supply of homes on the market.

So, I was intrigued when I read an article in the Wall Street Journal the other day that said home inventories are decreasing nationally. Is it because the market is recovering or for other reasons?

I looked it up and the available homes for sale in the month of July 2011 versus last year was down 26.5%. I thought WOW that is a large number. It was looking very promising....

I then checked the months supply of homes on the market and was impressed to see it was down 15.7% from last year.

Then I decided to check home prices versus last year at the same time. Now, with inventory levels down the average home price should be up. (it might be a little to much to ask for 20%). But here was hoping... What I found was home prices actually dropped on average 1.7% from last year.

The numbers are saying mixed reviews. If inventory levels are down then home prices should be up. However; that is not the case. As I divulged a little farther you find that bank owned homes made up almost one third of the sales for July. in the peak of the market and when the housing market is good that number is probably closer to 10% or less...

Why does that make a difference? The banks will not generally do any repairs to a house and sell the home in it's current condition. Thus there sale price reflects the house in need of some repairs or cosmetic fixes that affect the value of the house and have priced the house according to that..

Whereas; a seller selling a home will have the house in a condition that allows the buyer to move in with minimal or any repairs. Thus they can command a higher price for the house.

With the amount of homes on the market decreasing there is a dual look at this. Most experts feel it is because of all the issues with foreclosures that banks are being more cautious on them and taking longer to actually foreclose on a home.....And with foreclosures so high rental demand has increased to such a point that it is driving up the rental rates.....

The increase of rental rates has spiked for me first time buyers out looking at homes. because now what was once affordable rent is no longer that and they can own a home for less than they are paying in rent.

Those factors are having an dual impact on the housing market. You are finding more buyers looking as their rental renewals are increasing and looking to see what options are available and sellers who can afford their mortgage payments but owe more than their home is worth are taking them off the market....

Either way, with decreased inventory levels the demand is starting to increase on existing homes on the market. That is a good sign for the housing market as a whole in the Charlotte, NC. region.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Charlotte, NC. Among Top Ten Cities For Boom

I just sat down at the doctor office and pulled out my laptop and opened to the local Charlotte news. The first thing I notice is an article listing the top ten cities that are the most likely to boom form the recession. Amidst my curiosity i decided to open the article and see what Forbes magazine felt the top ten places were for growth following the recession.

Well looking over the list I quickly noticed that Charlotte, NC. was ranked 8th on the list. A very impressive spot to be ranked. Forbes put it 8th on their list of boom towns because of our mild climate (protected by the Appalachian mountains to the west and inland enough to not be drastically affected by the ocean), low home prices in comparison to other cities it considered, our small size (really???have they been to Charlotte) allowing us to grow and not be the bottle neck nightmare cities like Atlanta are.

In addition our Charlotte -Douglass airport may not be one of the top ten largest airports in the United States; but we do serve both domestic and international flights adding to the allure.

But, the main reason I believe we are on the list was the last reason they pointed out. Our infrastructure. Charlotte even during the downturn of the economy has invested in the infrastructure of the queen city. that forward thinking has and will help Charlotte become a powerhouse among major cities in the United States. Without a strong infrastructure no city can survive for a long period of time.

This study supported what i realized six years ago when i migrated to Charlotte form the North East...It will boom and I want to be here for the ride. To read the full article click on the link:
http://blogs.forbes.com/joelkotkin/2011/07/06/the-next-big-boom-towns-in-the-u-s/

Dave diCecco
Realtor/Broker
www.davedicecco.com

Charlotte, NC. Among Top 10 Places To Live For College Graduates

I read an interesting article on Kiplinger's website the other day. It ranked the top ten places for college graduates to move to or live after graduation. Charlotte, NC. made the list and is the only city in North Carolina to make the list. It speaks volumes to the diversification that Charlotte has in industry.

Charlotte has always been known for it's banking industry. With it beign the second largest banking capital in the country to New York it brings a lot of young professionals to Charlotte looking for a careeer in the banking industry. But Charlotte economic development has done a great job of diversyfing it's economic base.

In addition Charlotte has an international airport and easy access to other major cities in the south. Couple that with the great climate we enjoy here and the relatively low cost of living and the article said Charlotte is a win win situation for college graduates.

I could not agree more. Transplanted here six years ago from Connecticut; the diversified economy, cost of living and weather were the main factors that brought me and my family to Charlotte.

Click here for the link to the complete article from kiplinger's.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Charlotte, NC. Among best Places To Retire

Yes it is true the Queen city was voted by Forbes Magazine as one of the best places to retire. Charlotte, NC. has so much to offer retirees as well as young professionals and families. When Forbes did the study it based it on certain attributes that made it decide where was the best places for people looking to spend their retirement.

Among the top reasons was the realtively low cost of living in Charlotte. Taxes are reasonable (some people might say they are cheap). Housing prices are relatively low and your purchasing power in Charlotte is at the highest it has ever been.

But, Charlotte also offers a lot of other great reasons for people to retire here. Weather was another factor. Becuase of our location just east of the Mountains and the fact we are far enough inland form the ocean; we do not get the extreme weather other parts of the country experinece. yet we do enjoy a beautiful fall, spring and summer months. The winters here are mild with a spot of cold for approximately 2 weeks every year. Otherwise the weather here is very conducive for outdoors people.

Third reason was activities. Charlotte area is home to 53 public gold courses and 22 private golf courses. In addition there are numerous parks and tennis courts scattered throughout Charlotte. Charlotte is a biker friendly town and has numerous greenways for people to enjoy a stroll through park like settings. In addition Charlotte is home to a professional basketball team (Charlotte Bobcats), Professional Football team (Carolina Panthers) Triple A baseball team (Charlotte knights) and a high end minor league hockey team (Charlotte Checkers).

If sports are not for you; Charlotte offers numerous musuems, art gallaeries, and is home to the Daniel Stowe Botantical Garden. In addition there is rarely a weekend where you can not find an event going on at one fo the many parks throughout Charlotte from arts and crafts to wine tasting. there is somethign goign on just about all the time for soemoen in Charlotte.

The last reason they gave Charlotte a high mark was the medical care. Charlotte has one of the top medical systems in the United States. With two major hopsital groups (Carolina medical Center and Presbyterian Hospital) positioned throughout Charlotte and numerous doctors and specialists in charlotte; healthcare is one of the fsatest growing areas of Charlotte right now.

Forbes magazine realized what so many people have realized for years. With the low cost of housing and the ample acitivites, coupled with the mild climate and the great emdical care....Charlotte is truly a Queen city for retirees.

Dave diCecco
Realtor/Broker
www.davedicecco.com

New listing: 4834 Sunburst Lane Charlotte, NC. 28213

This 3 bedroom 2.5 bath home with a loft located in the university area of Charlotte is a great deal in an well established neighborhood. It is priced to sell at ONLY $154,900. Boasting over 1800 square feet of living space there is plenty of room for the whole family. The home features an open floor plan downstairs using the living room with the gas fireplace as the focal point of the space. The open floor plan leads you to a open kitchen area with plenty of cabinet space and a separate pantry. Tile flooring accents the kitchen and eating area as wall to wall carpeting flow through the remainder of the home.

the upstairs boasts three good size bedrooms and a loft area that si currently in use as a sitting room. Master bedroom has a beautiful cathedral ceiling in it and a separate shower and garden tub. Closet space is abundant in this home; as all three bedrooms boast large closets. Convience of the laundry area being located upstairs centrally located around the bedrooms makes it easy and convient to do laundry.

All the rooms feature the faux wood blinds which convey with the house and select rooms have upgraded ceiling fans with remote controls. The appliances are all black and remain with the new owner of the home.

One of the best features of this home is the breathtaking view off the back patio. While enjoying your level fenced in backyard you can take in the view of the farm behind you. Not construted on; the farm offers some of the best views in the area during the fall season with the backdrop of the trees changing colors. In addition it adds to the privacy we all long for.

Convience is another feature thsi home has. Conviently located just minutes off 485. This home is within minutes fo UNCC, uptwon, and a short drive from Concord. Yet the closeness of the highway and major attractions you still maintain the feeling of being out in the country.

The hot summer days can be enjoyed at the community pool located a short walk away form the home. Built by Eastwood homes, this home has some of the best quality construction around. Voted as builder of the year in the Charlotte area. When you see this young 6 year old home you will undertand why....

Dave diCecco
Realtor/Broker
www.davedicecco.com

Brightmoor Subdivison Matthews, NC. Market Trends Nov. 2010

Brightmoor subdivsion located just outside the center of Matthews, NC. is a large family friendly neighborhood. Offerign two swimming pools, tennis courts, walking trails, and a play ground for the kids. Because of it's convient location and excellent school assignements this has been a popular place among families in the Matthews area.

The market has been a roller coaster of a ride the last couple of years. However; families still find Brightmoor to be a desirable location to settle down in. Below are the market trends for the past three eyars from November 1 through October 31 the following year:

3 years ago 18 homes sold for an average sale price of $226,419. They were on the market for an average of 40 days.

2 years ago 18 homes sold for an average sale price of $212,539. They were on the market for an average of 44 days.

Last year 8 homes sold for an average sale price of $180,413. They were on the market for an average of 92 days.

There are currenrtly 11 homes on the market right now in brightmoor with an average sale price of $216,173.

Though the home prices have streadily declined over the past three eyars; he days to sell is signifcantly below the market average. In fact; almost half of the national average. Thus keeping trend with the image that the neighborhood portrays...

Dave diCecco
Realtor/Broker
www.davedicecco.com

What To Do In Charlotte, NC.

Charlotte, NC. is also knwon as the queen city. Over the past few years I have noticed that the uptown (downtown for us northerners) skyline has slowly become more and more of a spectalcle than a construction site. Recently on a flight home the plane was making it's descent I realized that the construction is almost finished and the skyline is looking wonderful. But what has all these hotels, and buildings doing for Charlotte? All these hotels and office buildings are going to be empty. There is not enough reasons for companies or people to travel to Charlotte. Friends and family ask me all the time; what is there to do in Charlotte? I tell them more than I can do in a lifetime and growing each and everyday.

To help educate my friends I used to e-mail them of happenings in Charlotte on a daily basis. Now, I have come across a great website that actually lists by dates the thins to do in Charlotte. I started losing track of all the endless possibilities of things to do in Charlotte. But, looking for something to do in Charlotte, NC then visit www.charlottesgotalot.com.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Brightmoor Matthews, NC. Market Report October 2010

In an ideal market the amount of homes available for sale would equal six months of sales. More than that favors a buyer and less than that favors a seller. Here is a breakdown of brightmoor over the past three years October to Ocotber:

3 years ago 18 homes sold for an average of $230,064. They were on the market for an average of 39 days.

2 years ago there were 16 homes that sold for an average of $209,106. They were on the market for an average of 46 days.

Last year there were 8 homes that sold for an average of $196,750. They were on the market for an average of 96 days.

Currently there are 12 homes on the market right now and 2 homes scheduled to close in the near future. The current homes on the market are advertised for an average price of $214,408. They have been on the market for an average of 118 days.

Based on the data availble for the past three years; the trend is favoring the buyers right now as home sales dropped off dramatically two years ago to last year. Based on last year there is over a year supply of homes on the market right now....

Dave diCecco
Realtor/Broker
www.davedicecco.com

New Listing: 1921 Brewton Drive Charlotte, NC. 28206

OFFERED AT ONLY: $94500





This 5 bedroom 2 and half bath home located in the north end of Charlotte provides plenty of room for the family. Located in a House Charlotte Neighborhood allows the new homeowner to own this home with NO MONEY DOWN. Sitting on a corner lot the level back yard is completely fenced in allowing kids room to play. There is a cutom built storage shed in the back with a separate office area as well.
When you walk into this great 1500+ square foot home you will notice the great utlization of space. The master bedroom has been converted into an office on the main level and has been adorned last year with cherry hardwood floors. The living room and all upstairs bedrooms have new carpet repalced within the last 2 years. You will notice a large eat in kitchen area with plenty of countertop space and cabinets to cook those family meals. All the bathrooms have been redone and the flooring repalced with tile.

Upstairs boasts four large bedrooms. The full bath upstairs has recently just had added a jacuzzi tub put in. There is plenty of room for that grwoing family or the family that needs more space. Within walking distance to the bus stop. Uptown and major highways are only minutesd away from this centrally located home in the north end of Charlotte.

Dave diCecco
Realtor/Broker
www.davedicecco.com

Price Reduced to Only $191,500





This extremely rare hard to find 3 bedroom 2 bath ranch style home in the sought after subdvison of Brightmoor has just been reduced. Located just outside downtown Matthews, NC. Brightmoor offers soemthing for the whole family. With two olympic swimming pools, playground, walking trails and tennis courts their is soenmthing for everyone to do. This home is one of only 14 that were built in this subdivison, and currently the only one on the market.

The seller has done many upgrades to this home. Beautiful cherry hardwood flooring has been installed throughout the living area and dining area. The bathrooms have been redone with a magnifcent tile. The bedrooms had the carpet repalced a few years ago. She had custom wood blinds built for the windows which she is leaving with the home. Then to finish the home off had the yard professionally landscaped and a privacy fence installed around her back yard to enjoy her deck.

In addition to a great home; you are getting in one of the best school districts in Charlotte. Brightmoor is slated for Matthews Elementary School, Crestdale Middle School and Butler High School. All are highly rated schools in the Charlotte Mecklenburg School system.

With rates at historic lows right now and the reduction in price you may be able to own this home for less than you are paying in rent currently...

Dave diCecco
Realtor/Broker
www.davedicecco.com

Matthews Elementary School--Matthews, NC.

Matthews Elementary School has been recognized by the Charlotte Mecklenburg School System as a school of distinction this past year. The school is one of the few elementary schools in the system to be recognized with at least this high honor for the past four years.

The school boasts some excellent educators and a well rounded program for children from kindergarten to fifth grade. Located just southeast fo the center of town, this small school offers a wide variety of programs for it's students.

known since the beginning of testing for it's high math scores; the school has done well in the past few yesrs to get the reading grades up to par with the math scores. Currently Matthews Elementary school is proud to be in the 1% of schools with at least 92% of it's students achieving at or above grade level in math.

Not to be outshined the reading program has seen an increase from 83% four years ago to almost 88% last year. These scores has earned the school the honor of a school of distinction. This means at least 80% of the kids are at their grade levels for reading and math but less than 90% overall.

Matthews offers some of the most affordable housing in the Charlotte area and is fast becoming a hot spot among young families...Matthews Elementary School is one reason many families are calling Matthews NC. home.



Dave diCecco

Realtor/Broker

www.davedicecco.com