As reported by Forbes on 07/14/08. Charlotte is the second-largest banking capital in the U.S., behind New York City. With the University of North Carolina nearby and tons of cultural attractions, this is a city that won't get tired. The market is reflecting what residents already know: Median home prices hopped to $205,400 in 2007, from $180,900 in 2005. Charlotte's vacancy rate is just a bit above the national average at 3.1%, reflecting a lot of space that is likely to get snapped up. Read full article by Forbes
Also see www.AngiesWeb.com
According to a report released by real estate research and data company Radar Logic, the price per square foot of housing shrank in 21 of 25 metro areas year-over-year in January, with double-digit percentage declines in nine market areas.
The price-per-square foot of homes in Sacramento, Calif., dropped 27.8 percent year-over-year in January, according to Radar Logic's data tracked during a 28-day period in January.
Las Vegas was second in its rate of decline with a 25.4 percent year-over-year drop in the price per square foot, followed by San Diego, down 21.2 percent; Los Angeles, down 16.6 percent; and Tampa, Fla., down 14.6 percent.
Charlotte, N.C., had a 3.9 percent gain in the price per square foot. New York City was the only other market tracked by Radar Logic to experience a year-over-year gain in January, at 2 percent.
Seattle has led among metro areas tracked by Radar Logic for its 6 percent annualized gain in home prices over the past two years, while Miami has led over the past five years. Sacramento, meanwhile, has shown the largest two-year annualized decline and Detroit has shown the largest five-year decline.
Also see www.AngiesWeb.com
Great Fort Mill Location!
• 3 bath, 6 bdrm 2 story - 
MLS® $449,000 USD
Reserve at Gold Hill, Fort Mill - Why wait to build? This 4700+ sq ft basement home is ready for immediate occupancy! This like new home has many builder upgrades as well as blinds/plantation shutters, finished garage floor. Gourmet kitchen. Finished basement has wet bar, rec room, home theater room & bedroom. Neutral decor. Fenced yard backs up to a wooded preserve for ultimate privacy. Short walk to community pool.
Property information
The original Downtown After Work Party - Alive After Five - returns for an eigth year!
Thursday, June 19 through Thursday, August 21Presented by Charlotte Center City Partners
FREE!
> official website
The event is held in the same great location at the foot of the Wachovia Buildings at the corner of Tryon and Martin Luther King (formerly 2nd St.)
Join us for great music, food and drink and a fun way to spend every Thursday afternoon. We'll be serving up your favorite drinks and food and adding some festive frozen drinks to the mix!
Thursdays- 5:30 - 9:30pm
See full schedule below
Location: 301 South Tryon, Charlotte
April 17 Breakfast Club / website
April 24 Satisfaction (Rolling Stones) / website
May 1 Almost McGraw / almostmcgraw.net
May 8 Right On! / website
May 15 General Johnson and the Chairmen / website
May 22 Tuesdays Gone / tuesdaysgonetribute.com
& Tres Hombes / treshombresband.com
May 29 Who's Bad / whosbadmusic.com
June 5 Frontiers / journeytributeband.com
June 12 ZOSO (The Led Zeppelin Tribute) / website
June19 Heather Hayes Band / website
June 26 Girlz Girlz Girlz / website
July 3 Coconut Groove Band / website
July 10 Fair Warning / website
July 17 Liquid Pleasure with Kenny Mann / website
July 24 Vertigo (U2 Tribute Band) / vertigou2band.com
July 31 80'Z - ENuff / website
August 7 Rubberband / website
August 14 The Backbeat / thebackbeatcentral.com
August 21 White Chocolate / website
Dates:
- Thursday, June 19, 2008 @ 5:30 pm
- Thursday, June 26, 2008 @ 5:30 pm
- Thursday, July 3, 2008 @ 5:30 pm
- Thursday, July 10, 2008 @ 5:30 pm
- Thursday, July 17, 2008 @ 5:30 pm
- Thursday, July 24, 2008 @ 5:30 pm
- Thursday, July 31, 2008 @ 5:30 pm
- Thursday, August 7, 2008 @ 5:30 pm
- Thursday, August 14, 2008 @ 5:30 pm
- Thursday, August 21, 2008 @ 5:30 pm
According to a report this week from a Wall Street firm, the Charlotte area’s housing market could be among the first to bounce back.
Charlotte was one of 13 regions examined by housing analysts with UBS Securities, who considered demographics, housing inventory, affordability and other economic factors.
Charlottes’ big banks job losses are a concern, but in general, population and job growth make Charlotte a leader. The Prices in Charlotte didn’t explode and so haven’t plunged as they have in overheated markets.
Based on this analysis and report, I believe markets that are currently outperforming, including Texas, Charlotte, and Atlanta, will be among the first to recover, driven by limited levels of excess single-family supply, good affordability, and robust job growth.
They don’t say when the bounce-back will occur, but offer this Greenspanian forecast: “In our opinion, a sustainable trough in for-sale housing will not be achieved until we reach a viable sales pace that can be maintained at a given price level.” Also see www.AngiesWeb.com
Uptown at The Green in beautiful Charlotte, NC
Through Sunday, June 22
Presented by Collaborative Arts Theatre
FREE!
> official website
(directions and parking info...)
Admission is Free
(donations will be accepted at the end of the performance)
No Reservations Required
Patrons are encouraged to bring blankets or lawn chairs and may bring food and beverages, if desired.
Dates:
- Wednesday, June 11, 2008 @ 8:00 pm
- Thursday, June 12, 2008 @ 8:00 pm
- Friday, June 13, 2008 @ 8:00 pm
- Saturday, June 14, 2008 @ 8:00 pm
- Sunday, June 15, 2008 @ 6:30 pm
- Wednesday, June 18, 2008 @ 8:00 pm
- Thursday, June 19, 2008 @ 8:00 pm
- Friday, June 20, 2008 @ 8:00 pm
- Saturday, June 21, 2008 @ 8:00 pm
- Sunday, June 22, 2008 @ 6:30 pm
Also see www.AngiesWeb.com
Charlotte made 9th Place!
Read more here
One Wachovia Center in downtown Charlotte is ailed as the up-and-coming Wall Street of the South, Charlotte, N.C., is home to the headquarters of both Bank of America and Wachovia. The banks have attracted a slew of young workers.
In addition to strong employment prospects, Charlotte is inexpensive to build in and speculation has remained low (home prices rose by just 36% between January 2000 and September 2007). That combination has helped keep the value of single-family homes relatively stable. Between February 2007 and February 2008, prices in Charlotte rose 1.5% — the only increase in a major metropolitan city.
More on SmartMoney
Also see www.AngiesWeb.com
 |
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| Metro area | Index Feb. 2008 | Change from Jan. | Change Jan. from Dec. | 1-Year change |  | | Atlanta | 125.83 | -1.0% | -1.8% | -5.6% | | | Boston | 160.31 | -1.4% | -1.2% | -4.6% | | | Charlotte | 131.22 | -0.4% | -0.2% | 1.5% | | | Chicago | 153.33 | -2.0% | -2.2% | -8.5% | | | Cleveland | 106.82 | -1.5% | -3.2% | -9.2% | | | Dallas | 117.72 | -0.7% | -1.8% | -4.1% | | | Denver | 127.5 | -1.1% | -1.5% | -5.5% | | | Detroit | 97.61 | -2.6% | -3.0% | -16.5% | | | Las Vegas | 177.18 | -4.8% | -5.1% | -22.8% | | | Los Angeles | 214.83 | -4.3% | -3.7% | -19.4% | | | Miami | 218.74 | -3.0% | -2.7% | -21.7% | | | Minneapolis | 145.93 | -3.5% | -3.0% | -12.5% | | | New York | 198.46 | -1.0% | -0.9% | -6.6% | | | Phoenix | 172.72 | -4.1% | -4.1% | -20.8% | | | Portland | 176.24 | -1.4% | -2.0% | -2.0% | | | San Diego | 190.34 | -3.6% | -2.5% | -19.2% | | | San Francisco | 174.54 | -5.0% | -2.9% | -17.2% | | | Seattle | 179.85 | -1.0% | -1.8% | -2.7% | | | Tampa | 188.59 | -3.1% | -2.7% | -17.5% | | | D.C. | 207.05 | -2.7% | -2.5% | -13.0% | | | 10 metros | 190.58 | -2.8% | -2.3% | -13.6% | | | 20 metros | 175.94 | -2.6% | -2.4% | -12.7% | |
Source: S&P and Fiserv |
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New-home construction starts in the greater Charlotte fell 48 percent in the first quarter, hitting its lowest level in at least five years, according to national housing-research firm Metrostudy.
Meanwhile, the inventory of vacant lots in the local market is at an all-time high. In the latest quarter, there were 3,145 new-home starts in the Charlotte area, Metrostudy says. That's a drop from 6,050 during the same period last year.
The number of quarterly starts here has not fallen below 4,000 since the first quarter of 2003, according to Metrostudy, which monitors the start of construction visually rather than by counting the number of building permits issued.
Closings on the sale of local single-family homes fell 35 percent to 3,801 units in the latest quarter from 5,844 a year ago, Metrostudy says.
In gauging the market's vacant-lot inventory, the firm counts 40,825 lots in developing communities at the end of the first quarter. That equates to a 26.7-month supply, increasing from the 21.5-month supply at the end of 2007.
An 18- to 24-month supply is considered a good balance between supply and demand, Charlotte's new-housing market is in a correction phase, as it is subject to the same problems other markets are experiencing nationally.
Causes are the clamp-down on credit underwriting, weakness in the national economy and a lack of consumer confidence. However, Charlotte's housing market remains strong, with closings exceeding starts. Despite a slowdown in job growth, the local economy remains healthy, and interest rates are near record lows.
Metrostudy says the top single-family, detached new-home subdivisions in the Charlotte market, based on annual starts at the end of the first quarter are Carolina Lakes/Sun City, Berewick/Village of Evanton, Hamilton Lakes, Westmoreland Acres and Shiloh Commons.
Also see www.AngiesWeb.com
The Charlotte region is the only one of 20 urban markets nationwide still showing rising home prices.
Area prices rose 1.5 percent for the 12 months through February, according to the widely followed S&P/Case-Shiller Home Price Index. The index showed prices were down nearly 13 percent for the 20 markets tracked. The hardest hit -- Las Vegas, Miami and Phoenix -- posted declines of more than 20 percent.
February marks the second month in which Charlotte was the only area in positive territory, but its lead has been deteriorating.
The Charlotte market is built around the strong economy. Layoffs at Charlotte's big banks might affect the market I remain optimistic about price appreciation.
Rising foreclosures, tighter lending rules and a struggling economy have slowed sales and depressed home prices nationwide. Charlotte has fared better than many markets because prices didn't surge here during the real estate boom of recent years.
The Case-Shiller index analyzes repeat sales of single-family houses.
Charlotte-area prices slipped slightly during the past three months compared with the first quarter of 2007, according to Market Opportunity Research Enterprises, which tallies real estate closing data from public records. The average sales price of existing, single-family homes dipped less than 1 percent, to $218,159, for the eight-county region that includes Charlotte.
Overall, Charlotte area sales prices for all types of new and existing residences rose 1.65 percent compared with a year earlier. Higher prices for condos and townhouses as well as new single-family homes offset the decline in existing home prices.
I just found this chart by The Wall Street Journal that gives you a pretty good picture on the current Housing situation across the US:
http://s.wsj.net/public/resources/documents/retro-HAGERTY.html
Also see www.AngiesWeb.com
The strong employment picture in Seattle caused home prices there to rise after other major cities reached their peaks. Appreciation there in the fourth quarter was just over 1%, according to NAR, but it is believed that the city's employment landscape is keeping Seattle housing from losing value.
A similar situation is shaping up in other markets.
Home-prices in major cities fell 10.7% in January compared with January 2007, according to the Case-Shiller home price index. The index tracks 20 cities, and 19 of them saw year-over-year declines. But one market experienced modest home-price gains over the year: Charlotte, N.C., another market that never saw a huge run-up in prices during the boom.
An influx of banking and research jobs in the Carolinas -- especially in Charlotte and the Research Triangle -- has been important to its stability, said Marty Frame, general manager of Cyberhomes.com. About 15,000 jobs were created in the Charlotte area last year, said Dot Munson, president of the Charlotte Regional Realtor Association. Large employers in the area include US Airways, Bank of America and Wachovia.
The jobs are luring people to the city, she said, and one of the biggest challenges transplants have is getting their former homes sold if they're coming from a market that is sluggish. "They have to rent for a while or do something creative for a place to live," Munson said.
Friday, April 25FREE!
Art, Beats and Lyrics is a multi-media art exhibition that explores the work of a diverse group of visual artists that have emerged from the hip hop culture throughout the U.S.. The core of the project involves painting, sculpture, photography, video, music and design by more than 20 individuals who range from well know artists to up and coming local talent.
This platform also gives local urban artists a channel in which to expose their art to a wider audience.
Ages 21 and up only.
Dates:
- Friday, April 25, 2008 @ 7:00 pm
IKEA, the Swedish home furnishings giant broke ground for its new Charlotte store Wednesday, paving the way for a spring 2009 grand opening.
On City Boulevard, next to Interstate 85, the 356,000-square-foot store will be the first in the Carolinas and the 36th nationwide. It's expected to employ about 400 people.
Customers can expect more than 10,000 affordably priced, exclusively designed home goods, a supervised children's play area and a 300-seat restaurant serving Swedish specialties.
That combination is expected to draw shoppers from across the Carolinas and southern Virginia. Though the closest store is in Atlanta, the company says it already has 150,000 Carolinas customers; IKEA has long operated in the northeast and in California.
Work has begun on the 25-acre site, and construction equipment bustles around the expanse of grass and red dirt.
The IKEA will be the centerpiece of Crescent Properties' 175-acre Belgate mixed-use development. Other retail, including a Wal-Mart Supercenter, is also set to spring up nearby.
Also see my Website www.AngiesWeb.com