Archive for August, 2008
Drought Over in Charlotte
August 30th, 2008 Categories: Charlotte News and Politics
It’s not official yet, but 11″ of rain fell in parts of Charlotte earlier in the week as the remnants of Hurricane Fay spent a couple of days in the Carolinas, causing major flooding in neighboring Cabarrus County, as well as some local flooding here in Charlotte as well. The lakes are full, but will the water restrictions come off? My guess is they will be eased, but not removed.
It is hard to estimate how much this has affected our business, but out of state clients have been being asking about it for over a year.
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No doubt you’ve noticed the Lake Wylie map on left, it will be changing Sunday to this new South Charlotte map. We are working on improving the inter-connectivity of our site all the time. Stay tuned below as I make Google maps go to work for you!
Lets check some distances out– Say from Charlotte to Waxhaw. To do this, go to the Larger map, viewing the left size click on measuremtn tool, makeyour first make with a left click, drag to the 2bnd and click agai, and you get something like this (this map is Not live, I’ll explain later) Â
or, from the Sanctuary to Soutpark–21 miles
Once you add the Distance Tool, or other User map, you can longer embed the map as I did on the top map. You have to work it in Google. So let the games begin.
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It is a strong buyers market here in the greater Charlotte area, in the Lake Wylie area as well, for new homes and re-sales. Custom homes start in the from the 600’s, more from the 700’s,  and there are a number of great values in the 900K-to mid 1.5M range. Thinking about buying a home in Lake Wylie? Lake Norman? Or Charlotte? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Charlotte broker specializing in relocations and 2nd homes–and will represent only you.
Related Links
Charlotte Home Search -By Area
Ryland Homes At The Palisades for Under $400k
Moving To Charlotte? Like a Good Introduction to the Area?
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The Palisades at Lake Wylie- Ryan under $400,000-Great Home
August 29th, 2008 Categories: Lake Wylie NC and SC
Ryan at The Palisades- Popular Floor Plans Plus Palisades Amenities
Charlotte NCÂ Â Â Â Â Â Ryan homes offers two communities at the Palisades, Briarcliff and Morningside, in the Palisades, that you can build a new home in the under $400K range, some as low as the 350’s. Offering their sunroom for “free” ( a 15K Option they routinely offer as a throw in) Ryan is offering the new home models people love to buy- even in this market! As other builders wither, Ryan is holding up strong in the Charlotte area and will, more than likely, be the largest volume builder in Charlotte in 2008 again.
Ryan does not build inventory homes, (TYPICALLY- but if you love their models, there are some Inventory- Ready Now homes available- call me for details)Â so everything is built to order, taking 5-7
months. They do accept contingencies, and contingencies falling through act as their “inventory.” On the model tour, always ask “What is an option?” because Ryan is notorious for needing $50 to 80k in “option”s other builders often consider standard.
Three caveats to buying a Ryan home? (Summarized from my 10 Essentials for Buying a New Home)
The best homes are part of a bigger community- like these two- at the Palisades. Communities add more to long term value than builders, and the Palisades is a winner, a Terry’s Top Ten Community in Charlotte.
As always – do not buy the first house in (no matter what the incentives) and do not buy the most expensive home in the neighborhood… your best position is always the least expensive home in the most expensive neighborhood you can afford.
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Charlotte Real Estate Updates-August 25- Reporting From Lake Wylie
August 25th, 2008 Categories: Real Estate News
Lake Wylie-Southwest Charlotte- the Fastest Growing Region in Charlotte
Charlotte NCÂ Â It’s Lake Wylie week, all week long. Check out my new map of Lake Wylie on the left, try the larger view and visit some of the places and you’ll find links to all things in the Lake Wylie area. Is being updated all the time so check back often. Am I missing something? Please let me know!
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Home Sales in Lake Wylie
Last 7 days home sales- 11 went Pending (New Contracts) and 12 Homes Sold and closed,
Last 30 days home sales -46 went Pending, and 50 Sold, median price of $366,457, Cost per SF of $145
In The Palisades, 7 homes went Pending, 3 Sold and Closed in the last 30 days.
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Charlotte Home Sales
The last 7 Days of Charlotte Home Sales- 672 went Pending, 657 Sold and Closed
The Last 30 Days of Charlotte Home Sales- 1930 went Pending, 2795 Sold, median sales price of 231,488 or 115/sf
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Other Charlotte Real Estate News
Foreclosure filings increased dramatically in June, according to Realty Trac. North Carolina ranks 25th amon the states with one foreclosure for every 936 North Carolina households. Filings more than doubled year to year (June ‘07 to June ‘08) in Mecklenburg County.
A Tale of Two markets – Or Three
92% of the last month’s home sale were for under $500,000. This is an improvement, from the 94% we saw earlier in the summer. Clearly the more “affordable” under $500K market is considerably stronger than the $500K and up.
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Matthews Alive, a family favorite, is coming to Matthews this Labor Day weekend, and more than 100 vendors, and 200,000 visitors are expected.
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Moving to Charlotte? Like more information about Charlotte?
It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Lake Wylie? Lake Norman? Or Charlotte? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations and 2nd homes–and will represent only you.
Related Links
Charlotte Home Search -By Area
June 2008 Home Sales Report
A Waterfront Beauty at Reflection Pointe
Moving To Charlotte? Like a Good Introduction to the Area?
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Lake Wylie Homes|New Homes at The Palisades On Lake Wylie for Under $400000
August 21st, 2008 Categories: Charlotte Homes for Sale, Lake Wylie NC and SC
Ryland Homes, OVER 3800 SF New Homes for Under $400K at the Palisades!
By now, just about everyone in Charlotte knows The Palisades, the country club with resort style amenities on Lake Wylie, just 25 miles from Uptown Charlotte. There is a natural beauty in the 1600 acres of rolling hills, tall trees and their visible commitment to Audobon International’s Green Community designs…
But it is the amenities most folks remember the best- and what amenities! Miles and miles of paved biking trails, walking trails and unpaved horse trails… then there is the Tim Wilkinson Sports Center- a fitness center plus 7 Tennis courts, plus the only grass court in Charlotte, home to the Jim Courier Tennis tour (see below) Plus a resort style pool, a Nicklaus designed championship golf course, soccer
fields of Charlotte United Futbol, an on site private school and an on-site public elementary coming in 2010. Site of Homerama ‘08 (see below),it made my Top Ten New Home Community List in 2007. In time it is the next Ballantyne, developed greener in a more natural setting, and made more affordable by the variety of neighborhoods. For more information find out why I named the Palisades to Terry’s Top Ten Communities in 2007, or when it was announced they’d sold the most homes in Southwest Charlotte in 2007.
I’ve a client from Minneapolis with 2 children, the husband has accepted a territory in the Carolinas, and his company would like him
to live in Charlotte. His wife found me on the Internet- where else? And they called last weekend. We took one day and did a rapid survey of South Charlotte and Union County, they liked much of what they saw, but we had talked about the Palisades, and their desire for an “outdoor” lifestyle-after all its one of the reasons they want to move to Charlotte: their family loves to walk, hike and explore- loves golf, they own a boat and two kayaks–with that in mind I told them they had to consider the Palisades in southwest Charlotte.
And off we went to the Palisades and they fell in love almost immediately. Ryland, had several floor plans of interest but the one they liked the most- the Rossendale, isavailable with a 3rd floor bonus – they want that as an office for her husband, and they loved the big bonus on the 2nd floor, large master and very comfortable greatroom-eat-in kitchen- kitchen area. We were helped by an extremely knoweledgeable on site (builder) agent, and shown a few lots, some were quite “buyable.”
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Charlotte Real Estate|Monday Updates August 18
August 18th, 2008 Categories: Real Estate News
More Bad Sales Figures For Housing
Even as prices hold steady or decline marginally (a few areas Not so marginally) the number of sales has dropped severely- in Mecklenburg County, about 40%, the 8 “inner-county areas, 37%. These figures are from Market Opportunity Research Enterprises (M.O.R.E.) and 2nd quarter figures are being reported in the Charlotte Observer and Busisiness Journal .
They report overall re-sales are down 36% and new home sales are off 40% in the 2nd quarter. Mecklenburg median prices had no change compared with 2007, but many other outlying counties were not so lucky- Iredell County for one, which saw a 13% decline in prices compared to the 2nd quarter of 2007. It is notiale that many of the higher priced properties on Lake Norman were some of the few that experienced some of that “bubble” type appreciation- appreciating far faster than the city of Charlotte- now declining far faster.
We need to get these issues fixed– I read recently that the devastation is so vast that the US government is going to have to bail out either the a) mortgage companies or b) the homeowners. R or D in the fall election, any guess who would bail out who?
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1,710 New Hotel rooms, 11 hotels, including a 5 star Ritz-Carlton in Uptown, are under construction and will be delivered before the end of 2009 reports the Business Journal last week… Thats a lot of hotels, some of which are in preparation for the opening of the NASCAR Hall Of Fame.
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Well now must be the time to buy a House in Charlotte- Suze Orman even thinks so. This in response to an out of the country buyer who told me he shouldn’t buy unless it was 40% off… when I asked Why, he told me that’s what “Suze Orman says”…Thanks Linda ( at the Palisades) , the rest is unfortunately behind a “subscription-paid” link at the Star Ledger:
Now Could Be a Great Time to Buy a Home
By Suze Orman
The following appeared in the Sunday, July 20, 2008 edition of The New Jersey Star Ledger.
Even though every nook and cranny of the housing market is draped in doom and gloom, it may be a good time for potential buyers to take a contrarian look.
I’m not minimizing the risks in the housing market, because they’re very real in many locations. Nor am I predicting any sort of miraculous turnaround in the next six months, since I doubt we’ll see that happen. But I’m still a believer in the long-term viability of housing as a solid investment if you buy at the right price. This has me thinking the current shakeout is in fact creating an interesting sweet spot for first-time home buyers to at least start checking out the market. ###
Thank you Suze for confirming what we’ve been saying in Charlotte for a long time- it is a GREAT time for careful buying of real estate in quality markets- like Charlotte. I had 2 first time buyers buy listings of mine last month, maybe they are listening.
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In the Week ending August 16h, there were 396 Home Closings-Solds, 402 additional Pendings in the 15 county area covered by the Carolina MLS. Homes sales fell 23%, prices were off 7%, compared to per sq ft costs a year ago, median prices fell nearly 10%.
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Lake Wylie? Lake Norman? Or Charlotte? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations and 2nd homes–and will represent only you.
Related Links
Charlotte Home Search -Map & Community Based
June 2008 Home Sales Report
A Waterfront Beauty at Reflection Pointe
Moving To Charlotte? Like a Good Introduction to the Area?
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Charlotte NC| The Dish On Charlotte
August 17th, 2008 Categories: Charlotte News and Politics
reprinted from CNN who reprinted this Southern Living article- hope you like it.
Story Highlights
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Culinary school Johnson & Wales University relocated to Charlotte in 2004
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The banking boom brought a diverse market hungry for fine dining
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Uptown serves power lunches by day and buzzing nightlife after hours
By Kim Cross
(Southern Living) — Nibble your way through Charlotte, North Carolina, and you’ll taste the New South. Shining on the Piedmont with a modern skyline and brimming with emerging restaurants, this is a city that savors the fresh and the new.
The outdoor patio at M5, a popular spot in SouthPark 
Charlotte’s emergence on the food radar — a recent and welcome debut — combines fascinating ingredients: a surging urban renaissance, support from the country’s No. 2 banking town, and fresh talent from the newest campus of Johnson & Wales University. This well-respected culinary school’s 2004 relocation from Charleston, South Carolina, cemented Charlotte’s position as the South’s new food city.
The restaurant revolution
You may remember Charlotte as a steak-and-potatoes place, home of the country club rib eye. That was before the banking boom brought an international workforce and a diverse market hungry for fine dining. Sophisticated palates demanded more — and got it.
Now the restaurant revolution is in full force. Take our neighborhood-by-neighborhood tasting tour.
The tasting tour
Uptown: Urban and upscale
Power lunches by day, buzzing nightlife after hours — what a far cry from the old ghost town days.
for more Visit The dish On Charlotte
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It’s a strong buyers market in Charlotte… Interested in buying or selling your home or condo, just give me a call direct at 704-351-1519
Charlotte Home Search -Map & Community Based
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Things-To-Do Charlotte, NC| August 15-17
August 15th, 2008 Categories: Real Estate News
Exciting things to do in Charlotte, NC this weekend of August!
A Night in the Islands
Friday August 15, 8:00 pm ($5-$10)
Queen City Ballroom (10403-I Park Road)
Love to dance? Experience the Caribbean by learning to dance to the island beat. It cost $5 for a lesson and $10 for the dance which includes cocktails and hors d’oeuvres. Grab a partner and dance this Friday night in Charlotte!
found in The Charlotte Observer
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Smashing Pumpkins
Friday August 15, 7:00 pm ($36-$46)
Ovens Auditorium
Catch the Smashing Pumkins live on stage at Ovens Auditorium with lead singer and front man Billy Corgan as they perform tracks like “1979″ and “Tonight, Tonight.”
found in The Charlotte Observer
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Pan for Gold
Saturday August 16, 10:00 am- 4:00 pm (5 and under free, $4 for seniors, $6 for adults) 
Historic Latta Plantation
Learn about Charlotte’s rich gold mining history and pan for gold at the miner’s cabin! Hourly house tours available throughout the day as well.
found on www.charlottecultureguide.com
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SlamCharlotte Poetry Slam
Friday August 15, 8:00 pm ($10)
McGlohon Theatre
The 2007 national champions of spoken word poetry return with special guest Shihan of HBO’s “Def Poetry Jam” fame.
found in The Charlotte Observer
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Gateway Village YMCA Book Bash
Saturday August 16, 9:00 am- 12:00 pm
Gateway Village Promenade
Get some philanthropy work in this weekend by helping the Gateway Village YMCA in their 7th annual event to collect elementary- school supplies for 1,000 needy children. There will also be games and inflatables.
found in The Charlotte Observer
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Movies in the Park @ Ballantyne
Friday August 15, 8:00 pm (FREE)
Ballantyne Corporate Park sponsored by Crosspoint Church. Watch Eragon (PG, 104 minutes) in the park with the family along with free popcorn and bottled water. There will also be face paintings for kids. To get to the park, follow the signs off John J. Delaney Drive.
found on www.charlottecultureguide.com
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‘Ornament as Art’
Saturday August 16, 10:00 am- 5:00 pm
Mint Museum of Craft and Design
This exhibit at the Mint Museum features 300 pieces of contemporary jewelry. The exhibit is also subtitled “Avant-Garde Jewelry from the Helen Williams Drutt Collection.”
found in The Charlotte Observer
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American Idols Live Tour
Sunday August 17, 7:30 pm
Time Warner Cable Arena
If you were a fan of this season of American Idol, catch performances by David Cook, David Archuleta, and eight other finalists this Sunday in Charlotte, NC.
found in The Charlotte Observer
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Stone Temple Pilots
Sunday August 17, 7:30 pm ($20-$49)
Call the babysitter and head to Stone Temple Pilots this Sunday evening. It is certain to be a night to remember.
found on www.charlottecultureguide.com
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Mark Millar and Tony Harris
Sunday August 17, 2-5:00 pm (FREE)
Heroes Aren’t Hard to Find (1957 E 7th St.)
The artists who wrote the graphic novel “Wanted” as well as executive-produced the recent hit movie will sign copies of their book “War Heroes.”
found in The Charlotte Observer
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Lake Wylie? Lake Norman? Or Charlotte? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I specialize in relocations and 2nd homes–and will represent only you.
Charlotte Home Search -Map & Community Based
Moving To Charlotte? Like a Good Introduction to the Area?
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Charlotte Real Estate|July Home Sales Report 2008
August 14th, 2008 Categories: Buy A Charlotte Home
Charlotte Home Sales fell 29% in July, Prices off 5% for the Area, Compared to July 2007
In the 15 County area covered by the Carolina MLS, home sales continued their roughly 30% decline over 2007 sales accompanied by average cost per square foot price reductions of 5%. Median home prices fell further at 7%, reflective of purchasers attitude spending a bit less for their home than last year. As expected, Days on Market as measured in the MLS (an admittedly less than reliable number) is up 20%.
This summary is just that– its composed of many sub-markets, as you can see below, some are doing much better, and some are worse. There are even “sub-markets” within these broader sub-markets, so any Home Buyer, before making an offer MUST compare a home of interest to its neghbors when evaluating an offer price.
| 2007 | 2008 | Change, July ‘07- July ‘08 | ||||
| Area | # Sales | Avg CPSF | # Sales | Avg CPSF | # Sales | Avg CPSF |
| Lake Norman | 147 | 167 | 101 | 172 | 31.29% | 2.99% |
| Lake Wylie | 50 | 153 | 33 | 137 | 34.00% | -10.46% |
| Union County | 330 | 122 | 249 | 123 | 24.55% | 0.82% |
| Cabarrus County | 255 | 103 | 167 | 97 | 34.51% | -5.83% |
| Iredell County | 211 | 135 | 149 | 129 | 29.38% | -4.44% |
All data comes from the Carolina MLS, but is not provided by them
This is a microcosm of the national markets as well- while the trend is down, there are many “up markets” and the Standard and Poor Case Shiller Report cites Charlotte as the best major market in the US.
Clearly the MLS (Days On Market) DOM figures are unreliable at best, but homes are staying on the market, by the averages, longer, and just in the last few months we’ve seen a bit more movement on price-but nothing dramatic. And dramatic changes here are Not (IMHO) coming, check out my reasoning in this post, Charlotte- More Good Years Ahead.
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Lake Wylie? Lake Norman? Or Charlotte? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations and 2nd homes–and will represent only you.
Related Links
Charlotte Home Search -By Area
June 2008 Home Sales Report
A Waterfront Beauty at Reflection Pointe
Moving To Charlotte? Like a Good Introduction to the Area?
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Davidson NC- College Town Living Minutes from Lake Norman
August 13th, 2008 Categories: Lake Norman real estate
by Kelli Robinson
I’ve always enjoyed college towns. The mix of people, places, and things creates a cultural hub that’s fun to explore. Davidson, NC, located off of Interstate 77 exit #30, is no exception. The town gets its name and personality from Davidson College, a small liberal arts college in the heart of downtown. What’s neat about the Town of Davidson is the fun it offers everyone.
The kids and I visited the town last week and again today. I had read about a cool sandbox park that I thought they would enjoy, and they definitely did. Caldwell Green Tot Lot is an enclosed grassy area with a huge sandbox that is partially covered with a canopy. Despite the heat, my son and daughter dug tunnels and built castles for almost an hour.
After a picnic in the shade, I treated them to milkshakes at The Soda Shop on Main Street. Every small town Main Street has its resident diner; and Davidson is no exception. Opening in 1951, the restauant’s claim to fame is the variety of milkshakes and real fountain sodas. The burgers, sandwiches, and homemade sweet potato chips aren’t too bad either!
This week the Davidson Public Library hosted an event, Northern Folktales on the Green, to kick off its summer reading program. Stories, crafts, and songs were the main attractions, as well as people dressed in 16th century European attire. My daughter enjoyed the stage performers, and my son enjoyed making a medieval wishing wand. By the way, the Village Green is literally a greenspace located at the center of town along Main Street. It plays host to events throughout the year, including Concerts on the Green and Art on the Green.
This summer the Town of Davidson has organized a Farmer’s Market that operates from May until October. The Davidson community has an earthy, grassroots feel to it, likely a reflection of the liberal arts college. It was only a matter of time before a Farmer’s Market found it’s way here.
Speaking of the college, don’t overlook the opportunity for wonderful – and inexpensive! – entertainment a college campus can offer. If you don’t follow college basketball, you missed this year’s Cinderella story of the Davidson Wildcats, who made an impressive appearance at the NCAA Men’s Basketball Tournament in March. My husband and I took the kids to a game this past winter and had a blast. If art or the performing arts is your passion, the college offers music, plays, and art exhibits for the public at reasonable prices.
If you’re in the mood to explore new territory on a summer-fall Saturday, try the Town of Davidson. Check out the Farmer’s Market. Lounge on the Green in the Adirondack chairs provided. Browse the unique shops, and enjoy lunch at one of the Main Street eateries. If you still have room for dessert, a Soda Shop milk shake or Ben & Jerry’s sundae hits the spot. Then take a walk around the picturesque campus. Sounds like a nice outing to me!
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Charotte Real Estate Updates|August 11, 2008
August 11th, 2008 Categories: Real Estate News
The Metropolitan in Uptown Charlotte – Marshalls Opened Last Week, Trader Joe’s to Open October 10
Charlotte NCÂ Â Not so very long ago, if you were renovating in NODA or building new in Wilmore, you’d need to leave Uptown to find a home improvement store. For that matter, a trip to Target or other big box retailers meant a trip to the burbs.
Not any more.
Target Inc. and The Home Depot opened stores in the Metropolitan at Kenilworth and Kings in October of 2007. Best Buy and Staples recently added stores, and Marshalls is opened this past week. And now, Trader Joe’s announced their opening on or about October 10.
The $225 mixed use development is already the largest retail center in Uptown, and its frontage on the the Sugar Creek Greenway project assures its long-term place in Charlotte. And they are not done yet.
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The Garden Parkway- A Toll road to connect Rt 485 and Rt 85 south, moves closer to reality with 3 public hearings scheduled, and the first $35 Million allocated by the General Assembly. Scheduled to begin in 2010, complete by 2015 the 21-23 mile connector between Rt 321 and 485, will be a boon to development in Gaston County and others points west of Charlotte. Residents of Reflection Point and Cramer Mountain Country Club – the western side of the central lake area will appreciate the easy access to Charlotte Douglass Airport and all the rest of Charlotte.
Now for some funding to complete 485 and expand it in the Ballantyne area!
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Charlotte Homes Sold For the Week ending August 9th
There were 468 homes Sold- at an average Cost per SF of $104.00. 440 Homes went Pending, and an additonal 128 homes changed to either Conditonal or Contingent. Homes sales and prices were off 14%- an improvement in sales, a considerable drop in prices– a drop I don’t get concerned about until reflected in monthly stats- generally prices have been off about 3% (Case-Shiller, perhaps a more accurate accounting, certainly more recognized, shows prices off just .2%)
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I was impressed Saturday taking a client on the Siskey YMCA tour–and I’ve been a Y member for almost 10 years. 8 personal trainers, a CMC staff nurse, a quick fit room, 3 major exercise rooms for classes, large very large, and massive,  a large free weight room,and about twice the size dedicated to exercise machines from orbitals to leg lift machines. My client was a personal trainer and distance runner, she was in awe. And the outdoor pool is just wonderful for young children especially. There is an indoor lap pool as well.
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Charlotte Real Estate is a strong buyers market. Moving To Charlotte? Like more information about Charlotte?
Are you moving to Charlotte? Considering a move to Lake Wylie SC, or Weddington? Lake Norman? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations–and will represent only you. You can also search the entire MLS, by area with the first link below.
Related Links
Charlotte Homes For Sale Easy Search -By Area
10 Essential Do’s and Don’ts When Buying A New Home
Moving To Charlotte? Like to Know More?
Charlotte Real Estate- More Good Years Ahead
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