Charlotte Real Estate News

Just Listed! 2709 Cloven Place in Charlotte

Roger Preswood — Tue, 17 Nov 2009 14:53:00 GMT

Charlotte, Mecklenburg County - Announcing 2709 Cloven Place, a 1,489 sq. ft., 2 bath, 3 bdrm 2 story. Now MLS® $144,900 - Just Listed!.

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Home Buyer Tax Credit Extended and Expanded

Roger Preswood — Fri, 06 Nov 2009 17:08:00 GMT

Great news came out of congress this week as the Home Buyer Tax Credit was not only extended until July 1st, 2010, but expanded to include current home owners as well. First time home buyers can still qualify for an $8000 Tax Credit if they have a binding contract by April 30th, 2010 and close by July 1st, 2010. The big change is that Sellers may now get in on the Tax Credit as well. Current home owners can qualify for a $6500 Tax Credit if the home being sold was their principal residence for 5...(read more)

Plasma Realty Superbowl XLIV 50" Plasma TV Contest

Roger Preswood — Thu, 01 Oct 2009 17:20:00 GMT

Note that this information is outdated.

Facing Foreclosure?

Roger Preswood — Wed, 02 Sep 2009 14:08:00 GMT

Everyone knows we are currently facing a Foreclosure crisis in this country. Interest only mortgages, low adjustable teaser rates, and rising unemployment in this country have left many families in a dire situation with no where to turn. What many people do not realize is there is help available thanks to many government programs like the HOPE for Homeowners Act of 2008. If you or anyone you know might be facing Foreclosure please go to www.HopeNow.com or call 1-888-995-HOPE for help. You can also...(read more)

New Home Sales up 9.6% Nationwide

Roger Preswood — Thu, 27 Aug 2009 13:40:00 GMT

The U.S. Commerce Department reports that New Home Sales for the month of July increased 9.6% nationwide, the largest increase since February 2005. This marks the 5th increase in the past 7 months. New Home inventory dropped to it's lowest level in 16 years. The median price for a new home was $210,100 in July compared to $237,300 last year. Home sales are being driven by historically low interest rates and lower prices due to forelcosures depressing values. The government is also giving First...(read more)

Charlotte Home Prices up in 2nd Quarter

Roger Preswood — Tue, 25 Aug 2009 17:55:00 GMT

The latest S&P/Case-Shiller U.S. National Home Price Index shows a 2.9% increase over the 1st Quarter of 2009. Eighteen of the 20 metro areas saw improvement in their annual returns compared to those of May. Looking at the monthly data, the same 18 metro areas reported positive returns in June. Detroit and Las Vegas are the only 2 major markets still struggling. These are the only two markets that fell in June and saw deterioration in their annual rates of return. Since their relative peaks they...(read more)

2nd Quarter Home Sales up Nationwide in 39 states

Roger Preswood — Wed, 12 Aug 2009 19:36:00 GMT

According to the National Association of Realtors, existing home sales were up 3.8% in the second quarter. Thirty nine states experienced increases over the first quarter of this year. Foreclosures and short sales accounted for 36% of transactions in the 2nd Quarter. First time home buyers, taking advantage of lower prices and a First Time Buyer Tax credit of $8000 from the government, made up one third of all transactions. The national median existing single family sales price was $174,100. According...(read more)

Fort Mill and Tega Cay, SC Single Family Home Sales July 2009

Roger Preswood — Wed, 05 Aug 2009 17:53:00 GMT

During the month of July, Fort Mill and Tega Cay Single Family Sales totaled 59 closings. The average list price for homes sold was $284k with the average sale price of $270k. The average days on market for homes that sold was 93. The same period in 2008 for the Fort Mill/Tega Cay area totaled 75 closings. The average list price in July 2008 was $299k with an average sale price of $291k....(read more)

8k Tax Credit can now be used towards down payment

Roger Preswood — Thu, 14 May 2009 15:29:00 GMT

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit....(read more)

Charlotte area closings grow in April

Roger Preswood — Fri, 08 May 2009 19:39:00 GMT

Charlotte area closings grew last month by 6.1% from March. There were 1,773 closings in April compared to 1,671 in March. The average sales price rose 5% to $201,532 up from $191,433 in March. These numbers could signal a turn around in Charlotte but they are still down compared to the same time last year. April 2008 showed 2,400 closings with an average sales price of $221,497....(read more)

Pulte to Buy Centex Homes

Roger Preswood — Wed, 08 Apr 2009 12:32:00 GMT

Pulte Homes has agreed to buy Centex in a stock for stock deal that will create the largest home building company in the nation. Both builders have a strong presence in the Charlotte home building market. Centex currently has 20 neighborhoods in the Charlotte area and Pulte Homes currently lists 13 neighborhoods on their website. It will be interesting to see how this deal will affect their Charlotte operations. Some of these neighborhoods are in direct competition with each other. Centex, currently...(read more)

New Home Inventory Incentives for Buyers

Roger Preswood — Wed, 11 Feb 2009 16:53:00 GMT

Westport Homes is offering a 4% 30 year fixed interest rate for Buyers that can close within 30 days on one of their inventory homes. Inventory Home prices have been reduced and there are plenty of options to chose from. Prices range from the 120's to the 280's. Contact me if you would like more information or a list of Current Inventory homes that qualify for this great incentive....(read more)

Does Fort Mill need another Wal-Mart Already?

Roger Preswood — Fri, 14 Mar 2008 05:04:00 GMT

The brand new Tega Cay Wal-Mart has barely been open a week and now there is confirmation that Wal-Mart has purchased a large tract of land near Regent Park in Fort Mill to build another store. This store will be located on Hwy. 21 near the NC state line. The new store doesn't plan to be open until late 2010. Below is a link to the Charlotte Observor article. Another Wal-Mart...(read more)

FHA Institutes New Temporary Loan Limits to Help Families Avoid Foreclosure

Roger Preswood — Sun, 09 Mar 2008 01:44:00 GMT

As part of the 2008 Economic Stimulus Package, HUD recently announced that they will be temporarily raising loan limits which will allow more people to qualify to finance their home with an FHA loan. The new act will permit FHA to insure loans on amounts up to 125% of the area median house price. The new loan limits are already in effect and last until Dec. 31 2008.

The new FHA loan limit for the Charlotte area is now $303,750. For more information on FHA loans and to read the entire article check out the link below.

FHA Loans

Charlotte one of America's Undervalued Real Estate Markets

Roger Preswood — Mon, 03 Dec 2007 17:29:00 GMT

Here is an interesting article about Real Etate Markets and values in the US. This article from Forbes Magazine gives good insight as to why Charlotte's Real Estate market has remained strong despite downturns in the rest of the country.

Check out the entire article below and feel free to contact us if you have any questions about moving or living in the Charlotte area.

America's Undervalued Real Estate Markets

New Edenmoor community now open in SC

Roger Preswood — Fri, 07 Sep 2007 15:18:00 GMT

Edenmoor, a 868 acre master planned community located in Lancaster County, SC recently opened it's doors to new home buyers. Ryland homes is the first builder to begin selling in Edenmoor and they will have two models opening soon. The master plan for Edenmoor includes 1,950 homes when completely finished, 100,000 square feet of commercial space, and 250 acres of greenways and open space.

Edenmoor will also feature a one of a kind skate park built within a 60 acre county park that will also include recreational fields adjacent to the community. There will be five builders to choose from in the first phase with prices ranging from the low 200's to 400k+.

Now is a good time to buy in Edenmoor to get entry level pricing and incentives. Please contact us here at Plasma Realty if you have any questions or would like more information about Edenmoor or any other neighborhood in the Charlotte area.

New Whitewater Rafting Center in Charlotte a Great Addition

Roger Preswood — Tue, 12 Jun 2007 20:08:00 GMT

I recently got the chance to go check out the new U.S National Whitewater Center just west of the Charlotte International Airport off of I-485. We had a great time and I highly suggest giving it a try if you are in the area and looking for something fun to do.

The Whitewater Center is the largest manmade Whitewater facility in the US. You can enter the park for free but the cost is $33 per person for about a 2 hour rafting session. This includes a safety instruction and each raft has an experienced guide to take you around the course. Most of the rapids are in the Class II-III range with a couple of Class IV's. I suggest making reservations if you plan on going rafting during the weekend.

There is also a 42 foot climbing wall if you're into that or you can take a walk or bike on the 11 miles of trails along the Catawba River. Check out the photos I took while we were there.

US Whitewater Center Photos

Home Values Up over 9% in the Charlotte area in 2006

Roger Preswood — Wed, 30 May 2007 21:57:00 GMT

Recently, the Office of Federal Housing Enterprise Oversight(OFHEO) released their annual review of the nationwide housing market. Nationwide, prices for the Fourth Quarter of 2006 were 5.9% higher than the same period in 2005.

According to this study by the OFHEO, the Charlotte area overall saw a 9.09% increase. NC and SC saw an average increase of 8.19% and 8.07% respectively. The South Atlantic region in general increased at 7.35%. While the New England region showed the smallest gain at 2.26%.

Eventhough the Charlotte area showed a 9% gain overall, some areas are flat while other areas in and around Charlotte are producing greater returns. For more information about Charlotte Real Estate feel free to contact me.

Below is a link to the entire report by the OFHEO.

US House Price Appreciation Rate Steadies

Homearama 2007 comes to Fort Mill

Roger Preswood — Wed, 23 May 2007 20:15:00 GMT

Every Spring the Charlotte Homebuilders Association selects a neighborhood to host their annual Homearama event where some of the areas top builders showcase their talents and the industries latest in design and technology. This year Homearama is being held at Springfield, an upscale golf course community in Fort Mill, SC with Custom built homes starting in the 600's. This year seven builders are on site showing off their products. All seven homes back up to the Springfield golf course and are...(read more)

Worried about a soft Real Estate Market? Not in Charlotte..

Roger Preswood — Wed, 25 Apr 2007 14:45:00 GMT

Not only has Charlotte experienced a rapid residential housing boom over the past few years, we are also seeing growth in office and retail space as well. In the past few years the uptown Charlotte area has been dominated by residential condo project announcements such as 210 Trade and The Vue, with little heard in the way of new office buildings. Now there are 7 new office projects either underway or proposed in uptown Charlotte. Below is a link to a Charlotte Observer article about the growth we are going to see over the next few years.

You Aint Seen Nothing Yet

Lowes Open for Business in Fort Mill

Roger Preswood — Thu, 05 Apr 2007 21:23:00 GMT

The first "Big Box" store is now officially open in Fort Mill. The new Lowes Home Improvement Store is located off Hwy. 160 in Fort Mill off I-77 and exit 85. Wal-Mart is scheduled to open in Tega Cay later this year. Below is a link to the Lowes story.

Lowes Now Open

Donald Trump coming to Charlotte?

Roger Preswood — Thu, 05 Apr 2007 14:26:00 GMT

Donald Trump may be expanding his real estate empire to Charlotte in the near future. His company is in the process of trying to acquire an entire city block in uptown Charlotte on Tryon Street. Below is a link to the article in the Charlotte Observor.

Trump to Charlotte

Housing Starts Rebound 9.0 Percent In February, Permits Drop 2.5 Percent

Roger Preswood — Tue, 03 Apr 2007 12:31:00 GMT

Nationwide, new home starts were up 9 percent in February, following a 14 percent drop the month before. Construction of new single-family homes was up 10.3 percent. Permits however were down 2.5 percent in Feb. and off 28.6 % from last year.

Here is a link to the entire article:

NAHB Housing Starts

Mortgage Rates Fall for the Fouth Striaght Week

Roger Preswood — Fri, 16 Mar 2007 16:03:00 GMT

The benchmark 30 year fixed interest rate fell 3 basis points to 6.16%, down from 6.36% four weeks ago. Below is a link to the full article.

bankrate

2 Story For Sale in Steele Creek

Roger Preswood — Wed, 28 Feb 2007 06:00:00 GMT

new home

• 2,463 sq. ft., 3 bath, 4 bdrm 2 story "optional 3rd floor!" - $229,900 - base price

Steele Creek, Charlotte - The Rosewood is a beautiful open floor plan with a master down and two-story family room. The kitchen is open to the family room with a breakfast bar and eat-in area as well. The master on the main level is spacious with a large walk-in closet and separate shower and tub.

Upstairs in the Rosewood are 3 secondary bedrooms and an optional huge bonus room with a walk-in closet for storage and a full bath as well.

A third floor suite is also an option on the Rosewood. Also, you can add a sunroom or a screened in porch off the breakfast area.

Please contact us for current incentives and pricing.

Property information