Charlotte Real Estate Market Stats

Happy Holidays to All!  My family has been traveling and batteling the "cold & flu" season, thus my apology in the delay for the most recent Charlotte Real Estate Market Stats....here you go:
 November Newsletter

Bryant Stadler, ePRO Realtor


http://www.bryantstadler.com/

Housing & Economic Outlook for Charlotte, NC ... Dr. Lawrence Yun

On November 1 of 2011, Chief Economist for the National Association of Realtors, Dr. Lawrence Yun, visited Charlotte, NC for a lecture on the economic & housing outlook for our city.  Although I was unable to attend due to a previous engagement, the CEO of Helen Adams Realty was kind enough to pass along the highlights of the lecture.  REALLY interesting info that I'm sure you will find useful!  Dr Yun - Charlotte (November 2011)

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Latest News on Chiquita's Relocation to Charlotte, NC

November 29, 2011 Chiquita to Relocate Global Headquarters to Charlotte and Create More Than 400 Jobs North Carolina Governor Beverly Perdue announced today in a press conference at the Charlotte Chamber of Commerce that Chiquita Brands International, Inc. will move their global headquarters from Cincinnati to Charlotte.  Chiquita, a Fortune 1000 company, will create more than 400 jobs with an average wage of over $106,000 and plans to invest $14.1 million in its new Charlotte headquarters facility over the next 5 years. The company is in lease negotiations to locate its headquarters in downtown Charlotte. “We welcome Chiquita and its global headquarters to Charlotte. Their move, which follows an all-hands-on-deck recruiting effort, serves to further diversify Charlotte’s economy and bring a significant number of high quality jobs," said Mayor Anthony Foxx. “Chiquita has a legendary track record of corporate citizenship, and, in addition to its economic impact, we can also look forward to the many ways in which its presence will enhance our quality of life.” Chiquita Brands is a leading international marketer and distributor of bananas and other high quality produce. Their most notable brands are Chiquita and Fresh Express. One of the world’s most recognizable brands, Chiquita has marketed bananas for more than 100 years. Fresh Express, a subsidiary of Chiquita, is the nation’s number one salad producer with a forty percent retail market share. “Charlotte provided the most compelling economic offer to lower our long-term operating costs and the region is an attractive community for our employees,” said Fernando Aguirre, chairman and chief executive officer. “Importantly, the Charlotte airport provides improved access to international markets, customers and Chiquita operations around the world.”  Chiquita’s mission is to improve world nutrition by expanding the availability and consumption of healthy fruits and vegetables, to make it easier for people to choose nutritious foods. With annual revenues of more than $3 billion, Chiquita employs more than 21,000 people across the world and has operations in nearly 70 countries worldwide. “Chiquita’s relocation of its corporate headquarters will be transformational.  This is a global company with an iconic brand that is recognized around the world,” said Bob Morgan, Charlotte chamber President. “Chiquita’s decision affirms that Charlotte’s favorable cost of doing business, our diverse and growing workforce and our transportation infrastructure, most especially the airport, are in fact competitive advantages. These are good and high paying jobs. We welcome those who will be relocating and are grateful for those jobs that will be filled by Charlotte citizens.” Cristy Nine, Patrick McCoy and Ralph Oldham with Cushman & Wakefield | Thalhimer are representing Chiquita in lease negotiations. The Charlotte Chamber would like to thank Governor Beverly Perdue, N.C. Department of Commerce, N.C. Community Colleges, Mecklenburg County, City of Charlotte, Charlotte Center City Partners, Duke Energy and Cushman & Wakefield | Thalhimer  for their assistance and support to this important project. Click here to read the official Chiquita company release. Click here to read the NC Department of Commerce release. Information on job opportunities at Chiquita Brands International can be found at: www.chiquita.com. For all other inquiries: Ed Loyd Director, Corporate Communications Chiquita Brands International 513/784-8935eloyd@chiquita.com www.Chiquita.com Kati Hynes VP, Economic Development Charlotte Chamber 704-378-1371 khynes@charlottechamber.comwww.charlottechamber.com Charlotte Chamber | 330 South Tryon Street | Charlotte, NC 28202 | 704.378.1300 | www.charlottechamber.com www.twitter.com/cltecondev

Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/

Charlotte Biz Journal Reports Home Closings Up in Charlotte

Great to see some positive press in the media.  I just receive this Charlotte Business Journal article from Helen Adams President, Jeff Adams.  Real Estate Sale are Up in Charlotte .  The business Journal has pulled stats from our local MLS and reflects that October sales in 2011 increased by 11% from October 2010 or 1882 closings compared to 1674.  Average home prices, however, dropped 3.6% from $202K to $197K.  Still issues with supply and demand but the Charlotte market has been trudging around at the bottom of this mess and will eventually begin to make a recovery.  Loan rates are low and inventory levels are down....it's a Great time to buy!

BryantStadler, ePRO Realtor

http://www.bryantstadler.com/

131 Jobs Coming to Charlotte, NC Metro

The Charlotte Observer has reported that Packaging USA has announced its plans for building a 226,000 sq ft facility in the Gastonia Technology Park.  PUSA is a plastic manufacturer for cosmetics, personal care, food and pharmaceutical industries.  The average pay will be $42,466 PLUS Benefits!  For Updates on position openings, click here.

It's great to see that the Charlotte Metro area has the capability of luring large companies (international and State Side) to our wonderful Queen City.  The banking industry certainly took a punch in the mouth during the housing crash but we are a resilient city that has a bright future!

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

September Real Estate Stats for Charlotte, NC

I've published my latest newsletter showing a snapshot of the Charlotte Real Estate Market for September 2011.  Newsletter

Closed transactions were up 10% from 2010.  As well, Pending contracts are up, Listing Inventory is down and Average sales price is down.  What a great time to be a buyer looking for a great investment on your Future Home!

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

5 Star Day Care in Charlotte, NC

I feel compelled to give some Kudos to "Kids R Kids" daycare at Blakeney in Charlotte, North Carolina.  My wife and I are parents of 2 young boys .... the youngest is 5 months old and the oldest is 7 years old.  We enrolled our oldest at KRK when he was 3 and watched him flourish.  By the time he entered Kindergarten at Rea View Elementary (a School of Excellence), it was obvious he was advanced thanks to KRK.

When it came time for my wife to go back to work after the birth of our baby, there was no way we were going to settle for 2nd Best ... it was KRK or Nothing.  Having missed the infant division of KRK with our oldest, we were not sure what to expect as it's important for an infant to be nurtured and loved.  Suffice it to say that when I drop the baby off in the morning, I can go to work with peace of mind knowing that if my child can not be with his Mother or Father, I know that he is with the next best thing ..... Ms. Jo and the Ladies at KRK!!!

The problem you may run into if looking for a top rated day care in Charlotte, would be the wait list.  I'd highly recommend you make a call and speak with Jason (owner) or Cereta (principal) ASAP.  Schedule a tour and see what KRK can offer you and your family.

FYI:  Take a look at the structured itinerary for the infants weekly schedule:  Infant 1 Lesson Plan 10-17-11
Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Open House in Starmount ... Charlotte, NC

For anyone looking for a reasonably priced home in Charlotte metro, I might recommend looking into the Starmount Neighborhood.
Located a few miles south of Uptown and just outside the South Park area, Starmount is a large community with reasonably priced Brick Ranch homes.  Erwin Builders built out the neighborhood in the '60's and was a top builder at the time.  Hard to find this kind of construction for under $200,000 ... especially in a mature neighborhood.  Community members can join Starclaire Swim Club for minimal fees and the community has tennis courts, soccer fields, basketball courts and walking trails!  Also, the neighborhood backs to a beautiful Greenway for family fun on the weekends.  The "icing on the cake" is that the light rail is easily within walking distance!
I will be hosting an Open House in the neighborhood at 7400 Woodstream on 10-16-11 from 11-1 pm.  Feel free to stop by and check out this wonderful home!

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Considering a Relo to Charlotte, NC? This Link will Help!

The annual edition of "Living Here" has been published in the Charlotte Observer.  If you are considering relocating to Charlotte, NC but would like to get a better feel of what the Queen City has to offer .... click here .... and I'm sure you will find this link useful!  Happy Searching!

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

August 2011 Real Estate Stats for Charlotte, NC

Hope this post finds everyone in a good Fall frame of mind!  This is the time of year that we will notice many sellers removing their homes from the mls.  The thought process is "the holidays are around the corner, so no one is buying or selling".  Not the case!  People buy and sell real estate every day whether the market is bull or bare and whether its summer or winter.  I could actually fight the case that now is the best time to place your home on the market as there is less competition.  At the end of the day, if a home is in good shape, staged well  and priced correctly ... it will sell!
Take a look at the most recent market stats for August of 2011.  Closed transactions are up 25% over August of 2010.  As well, Pending transactions are significantly higher and inventory of new listings is down!  We have a long way to go to turn the market around, but every month feels like we are taking steps forward and not backward!
September Newsletter

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Chiquita could bring 400 Jobs to Charlotte, NC

Charlotte, NC city council has a tentative $1M proposal to land the Corporate headquarter for banana giant Chiquita.  If the deal sticks, more than 400 high paying jobs will be available to Charlotteans however, it appears that the state of Ohio has thrown its name in the hat as well.  One thing is for certain: Boca Raton, Florida is out .... where will the company land?  Read Article

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Charlotte Prepping for Democratic National Convention

Charlotte is buzzing with the excitement of hosting the 2012 Democratic National Convention in September of 2012!  No matter which party a Charlottean bound to, we all have to be excited about the opportunity to show off our Beautiful city to those who may be unfamiliar with it.  Jobs will be created along with the opportunity for many homeowners to earn some extra cash by renting out their homes to "out of towners" for quite a pretty penny!  Read the Article

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

July 2011 Market Stats for Charlotte, NC

My August, 2011 newsletter is out with the latest Market Stats for Charlotte, NC.  Quite an increase in Closed transactions when comparing July 2010 to July 2011.  Overall prices dropped a tad but all in all, a better month than a year ago!  With all the bad press out there, I'm pleased to see this!  NEWSLETTER or try my July Newsletter PDF Version.

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

East Coast Earthquake Felt in Charlotte, NC

Quite honestly, I never thought I’d live to see the day that an Earthquake registering 5.9 in magnitude would hit the east coast, let alone be felt in Charlotte, NC.  Although I never felt the tremors, I have some friends outside of Charlotte that say they felt the tremors!

http://www.charlotteobserver.com/2011/08/23/2547629/in-charlotte-a-rock-and-roll-moment.html

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Ballantyne (Charlotte, NC) Hits 15 Year Anniversary Mark

Curious to learn a little more about the Ballantyne Area of South Charlotte?  Check out this thread ... click here .  I live just south of the Ballantyne area and can vouch for the quality of life that South Charlotte offers.  Ballantyne has played an important role in the infrastructure development for this area.

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Vacation Time on Hilton Head Island

Once again, I've been AWOL...my apologies.  My wife and I decided to sneak off to Hilton Head Island for a week's vacation with the kids.  My neighbor recently made a very wise acquisition on a small 1br/1ba condo at the Breakers. The unit is Ocean Front and Sits a half block from the Coligny Plaza!  Literally...we parked on a Saturday and did not get back into our car until the following Saturday!
Having never been to Hilton Head, I was excited to take a new adventure to a new destination.  What an incredible time!  Normally I get a little restless after 3 or 4 days of beach time but we found ourselves scrambling at the last-minute to try to reserve another condo for yet another weeks vacation!  The water was warm and their were quite a few jelly fish incidents, however.  As well, the drive on the island is shaded by trees with no view of the ocean.  Didn't matter as we had a pool and could walk to the beach in less than 3 minutes.  Having kids, I believe the biggest bonus was the location to the Coligny Plaza.  Tons of restaurants, bars, retail shopping, tourist shops, and 2 Grocery Stores!  This alone made it enjoyable and allowed an escape for the kids.  Harbor Town (with a light house) is only a 15 minute drive from Coligny and I would recommend driving to South Beach to eat at the infamous Salty Dog Cafe.

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

3/31 Post on Knights Baseball Game Charlotte, NC

I did it!  I took my son to see the Charlotte Knights play a AAA Baseball game.  On my 3/31 post, I made mention (more like a vow) to take my son to see a game this year at Knights Stadium.  The experience was truly fun for all ages.  There are tons of activities and give-a-ways for the kids along with great hot dogs and drinks!  Maybe a little pricey, but what isn't these days, right?  I'd highly recommend taking in a game for yourself and family.  I promise you will not be disappointed with the experience or atmosphere.

Fun at the Knights Baseball Game

Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/

Hunter Oaks Neighborhood in Charlotte, NC Metro

Looking for a Tight Knit Community with Top Rated Schools, Top Amenities and Fun for All Ages ... yet still affordable?  Hunter Oaks just might be the fit for what you are searching.  Check out the updated website:  Hunter Oaks HOA

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

High End Retail Expansion at Phillips Place in South Park

High End Retail Shopping is Expanding in the South Park Mall are of Charlotte, NC.  Phillips Place Partners, LLC has just announced they will be adding approximately 10,000 sq ft to the existing shopping center in the form of a mezzanine.  With Great Visibility to Fairview & Sharon Road, Phillips Place will give the "high-end" retailer an opportunity to grow their business in an affluent section of Charlotte.  Read Article

 Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

US Housing More Affordable than Ever!

Just got this pdf from the higher ups.  I had to chuckle when I read it as it's such a simple formula!  Must Read stuff, folks! US Homes Now the Best Deal in Recorded History

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Appalachian Trail is a Hikers Dream

I found this interesting blog on the Appalachian Trail in todays Charlotte Observer....click here for article.  Moving to Charlotte from Denver about 7 years ago, I can appreciate the diverse activities that North Carolina offers.  About the closest I've come to hiking the Appalachian Trail was a drive through the Blue Ridge Parkway with my family (not the rugged outdoorsman I used to be).  I can only imagine how beautiful the scenery must be!  Who knows...once the kids are a bit older, maybe I can add this to my "bucket list"!

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

The Liberty Restaurant in Charlotte, NC

Mid last week, my wife and I met a past client at "The Liberty" in Southend (south of uptown Charlotte) for lunch.  I had to try the burger as I've heard several friends rave about the quality of food here.  As well, The Liberty was named "Charlottes Best Burger" by the Charlotte Observer.  I highly recommend the Liberty Pub Burger but I have to say, the Chicken Burger (my client's preference) looked outstanding!  The plates averaged just shy of $10 so by no means is The Liberty an inexpensive lunch.  The food is terrific and the atmosphere is very inviting.  All in all, I'd give the experience an 8 of 10 rating.

 

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

May Real Estate Stats for Charlotte, NC

May 2011 statistics are available and ready to view! In a nutshell:  Total number of closings and closing prices are down from May 2010 HOWEVER, total number of Pending Contracts (homes with contracts on them) is significantly up from 2010.  For you buyers out there .... now is a perfect time to take the plunge and get in before the market fully rebounds!  June Newsletter

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Tourism Spending on the Rise in the Carolinas

It's great to hear  that tourism spending is up in both North & South Carolina.  2010 was a record-setting year for North Carolina which recorded $17 billion in tourism spending.  South Carolina recorded $9.7 billion in tourism spending, not quite surpassing the record-setting year in 2008 of $9.9 billion.  Read Article
With so much economic uncertainty being reported, I'm happy to see some good news out there.  I'm hoping the high gas prices don't stagnate the numbers for 2011!!

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/ 

Great Website for Private Schools in Charlotte, NC

Let me preface this post by apologizing for going AWOL for the past 8 days.  I had forgotten how hard it is to transition to different sleep patterns with a newborn in the household.  This isn't to say that I have been negligent of my realtor duties, rather I'm used to posting in the evening hours while the family is asleep.  Now I've got a newborn in one hand and a bottle in the other!

I want to share a great website with you.  I have a potential client moving to Charlotte from Tennessee.  These folks are concerned about school districts (as most parents are) for their children.  Keeping their options open, they wanted to begin researching private schools in the area in case their dream home lands in a school district that does not meet their expectations. Click Here for the private school ratings in Charlotte, NC.  (I have a link to this site under the "search by school" tab of my website .... in case you lose the link.)

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Improvement in Charlotte Area Home Sales

I'm not big on posting other articles from another source, however I feel obliged as Laurie Knudsen is my Broker in Charge as well as president of the Charlotte Regional Realtors Association ... obviously I'm proud of her :) !

Charlotte-area home sales improve in May

By Kirsten Valle Pittman
kpittman@charlotteobserver.com
Posted: Thursday, Jun. 09, 2011
Charlotte-area home sales improved in May over the month before, new data from the Charlotte Regional Realtor Association show.
About 2,190 houses, townhouses and condos sold in the Charlotte region last month, up nearly 17 percent from April, according to the report released Thursday. That was down about 12 percent from May 2010, when sales surged in response to the government's homebuyer tax credits.
Meanwhile, pending sales - signed contracts that haven't yet closed, a good measure of current housing activity - climbed about 2 percent from April and nearly 14 percent over the May 2010 level. The data come from the Realtor association's Carolina Multiple Listing Services, which accounts for nearly all sales in the Charlotte area.
"I think we have reached the bottom, and we're on our way out," said Laurie Knudsen, association president and Realtor with Helen Adams Realty.
The latest MLS report marks a turnaround from April, when home sales fell. Knudsen said that's partly because foreclosures and short sales are beginning to be absorbed, decreasing the area's inventory of existing homes.
Her office is seeing more showings, a sign that consumers might be less hesitant to buy. In addition, "there's always something about the spring that brings out that nesting instinct in people," she said.
Despite the uptick in sales, home prices remain weak, signaling continued challenges in the housing market. Foreclosures, tight lending standards and lingering economic uncertainty are among the factors fueling the slow rebound, and experts say it could take a year or more for prices to begin climbing again.
The average selling price in the Charlotte region in May was $208,999, up about 3 percent from April and up 0.6 percent from the year before, the MLS data show. But that's still down about 7 percent from May 2008, shortly after the recession began.
The latest S&P/Case-Shiller Home Price Index, a closely watched real estate report, showed home prices in the Charlotte area fell in March to their lowest level since the real estate bubble burst.
Prices in the metro area slid 2.4 percent from February and 6.8 percent from March 2010 - the fourth straight month Charlotte-area prices hit a new bottom, and part of a long-anticipated double dip in the national housing market, the Case-Shiller report found.
Knudsen said Case-Shiller data don't always reflect the most recent market trends, and because they cover such a broad region, might miss some patterns occurring locally.
"We're seeing an increase in showings," she said. "When you see an increase in showings, it means that more people are out looking, which is the only real future predictor" of the housing market's performance.
Home sales will likely slow in July and August, a pattern seen most summers as children are home from school and families take vacations, Knudsen said, but she predicts an uptick again in the fall.
"I think we've gone back to a more traditional cycle," she said. "I'm just hoping the cycle continues."


Read more: http://www.charlotteobserver.com/2011/06/09/2364111/home-sales-improve-in-may.html#ixzz1OoPfepDC
     
Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/   

Charlotte Economy Projected at 2.7% Growth

I've been AWOL the past few days as my wife and I welcomed a new-born into our family.  I'm still shaking the cob webs out of my head while adjusting to the lack of sleep!
(While I was on leave, I was forwarded this link from my loan officer at Cunningham & Company and felt it worth of sharing.)  While we Charlotteans are hearing rumors of the threat of a double dip economy, a local economist projects a 2.7% growth for the Charlotte market of which the real estate outlook is projected to grow 1.5% and more importantly, nearly 65,000 net jobs are in the projected forecast!  Nice to get some good news from reliable sources.  Click Here for Article

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Career Fair Coming to Charlotte, NC

Hey...the economoy is slowly but surely on the rebound.  Yes...I know economic graphs resemble a roller coaster ride, as well.  The most important ingredient needed for a full recovery across the nation is the jobless rate.  We need to put Americans back to work and until this happens, the housing market and economy will lag. 
Charlotte, NC has a career fair coming to town in September.  If you are one of the masses looking for a new career, maybe this site will help: http://www.nationalcareerfairs.com/career_fairs/details/NC/Charlotte/September/13/2011/

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Happy Holiday / Charlotte Jobless Rates Dip

I wanted to take the time to wish everyone a Happy Memorial Weekend!  I've never served in the military but that does not mean that I do not appreciate what our veterans have accomplished so I can be here today writing this post.  To those of you who have lost loved ones while serving in the military, know that your loss is close to my heart.
Charlotte jobless rates have are slowly but surely dipping to lower levels. As we all know, the economy won't make a full recovery until unemployment is lowered.  Read Charlotte Jobless Rates

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Piper Glen Estates in South Charlotte, NC

Piper Glen Estates is Golf/Swim/Tennis Community located near Hwy 485 in South Charlotte.  The community consists of Custom Built Luxury homes along with Executive Style Townhomes located near the Club House.  For a glimpse of just how nice the Townhomes are, CLICK HERE.  The community boasts the TPC at Piper Glen (designed by Arnold Palmer) and the Heritage Group Golf Course.  With great access to Stonecrest Shopping Center, Ballantyne Village and Blakeney Shopping Center, Piper Glen will continue to be one of South Charlotte's most Highly Sought After communities!

TPC Piper Glen

Situated within the historic city of Charlotte, North Carolina, TPC Piper Glen has become legendary for its unique combination of beauty, challenge and pure playability. TPC Piper Glen is a non-equity club operated by Heritage Golf Group and is a member of the TPC Network of properties nationwide.
The Arnold Palmer designed par 72, 6,853 yard course  offers golfers the challenge of strategic choices for each shot, while maintaining a natural balance of sequence, length and configuration.

Clubhouse

Relax and reconnect with friends, family and colleagues in the spacious Clubhouse.

• 35,000 Square Feet of Classic Elegance
• Casual and Fine Dining
• Private Event Planning
• Banquet Facilities & Private Meeting Spaces
• Full Service Locker Rooms with Club Storage Facilities
• Award-Winning Golf Shop, Recognized as "Golf Operation of the Year

Tennis

Piper Glen offers more than just golfing. The Members and guests enjoy year round tennis activities on the eight lighted clay courts.
Whether you're looking to improve your backswing or are just picking up the sport, year-round instruction is available with the trained Tennis Professionals. Piper Glen hosts junior and adult programs and other private or group instruction, as well as week-long clinics.

Swimming

The swim facility at TPC Piper Glen is a lively summer afternoon hot spot. Piper Glen swimming facility offers competitive inter-club swimming in the Junior Olympic-sized swimming pool, as well as professional instruction and numerous activities; you'll find you never want to leave. 

(Detailed Amenities direct from Piper Glen Website)

         

Piper Glen Country Club

Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/

NAR Reports Top 5 Housing Markets in Q1 2011 ... Charlotte is #1

It's nice to see positive news on Charlotte, North Carolina.  Charlotte came in #1 on the top 5 list of housing markets on the rise! Read Article

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Charlotte Market Stats for April 2011

Here is my latest newsletter highlighting the real estate market for April 2011 in the Charlotte, NC market.  This newsletter is a great snapshot of current trends in our local market.

May Newsletter

Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/

Sometimes the Fit isn't there Between Agent & Client

This post is somewhat bitter-sweet but I feel it is information that needs to be shared.  At 10 a.m. this morning, I pulled a yard sign from a clients home to allow them to seek representation elsewhere.  After a 3 weeks of discussing a new pricing position, we could not come to terms and I let them out of there contract.  I never enjoy turning loose business, but the reality is that I am in the market to sell homes....not to list them. We parted on good terms and I truly care for this young couple a lot & wish them the best of luck.  I actually left feeling a big weight off my shoulders and I'm sure the client can say the same.
Where did I fail as a realtor?  Easy answer:  When I listed the home.  From our first meeting I was upfront with them on what the market showed their home was worth.  Remember, my opinion of value nor the opinion of the homeowners value means squat.....the market dictates a property's value.  We came to terms on a price and agreed to re-evaluate after 30 days of market time.  Well, 30 days came and went and we had no action.  We were clearly being rejected by the market.  We discussed this and decided to go out and view some competition.  After a day of viewing homes, I figured we could finally come to terms with a price reduction.  No go.  At this point in time, it was best that both parties go our respective ways.
Lesson Learned:  Sometimes it just plain stinks to have to tell someone the true value of their home but it comes with the realtor cap.  I've never shied away from this duty ... except once...and look how it turned out.  Well, this I can say for sure:  Although I'm disappointed in the turn out, I AM a better Realtor today because of this occurence!

Bryant Stadler, ePRO Realtor
www.BryantStadler.com

What to Do in Charlotte during May 2011

I found this link useful for researching events in Charlotte, NC for 2011:  Click Here  My wife is a concert enthusiast so we are always keeping our eyes and ears open for quick access to local event information. Check out these links for events other than concerts:

• Concerts
  Conferences
  Education
  Family
  Festivals
  Film
  Food
  Fundraisers
  Galleries
• Health
  Literary
  Museums
  Neighborhood
  Networking
  Nightlife
  On Campus
  Organizations
  Outdoors
• Performing Arts
  Pets
  Politics
  Sales
  Science
  Spirituality
  Sports
  Technology
  Other

Bryant Stadler, ePRO Realtor
www.BryantStadler.com

Sunday Brunch at LuLu in Plaza Midwood

I'm a huge fan of the Plaza Midwood area in Charlotte, NC.  Partly due to the fact that the neighborhood is great for people watching; partly due to the mature neighborhoods and fresh lifestyle; but mostly because there is an eclectic choice of dining experiences. 
My family and I met some friends for Brunch at  LuLu on Sunday.  We were fortunate we called ahead for reservations, as to no surprise, there was a hefty line for seating.  The brunch menu offered a wide variety of choices for the adults and even had something for children.  I enjoyed the Country Benedict while everyone else ordered a Quiche.  All in all, the food was outstanding, the service was great but the prices were a little steep (roughly $60 for entries with no apps or drinks).  I'd recommend LuLu to friends as the atmosphere is interesting (building is an old home in Midwood) but the location is about a mile off the beaten path on Central Blvd.

LuLu Location

Bryant Stadler, ePRO Realtor
www.BryantStadler.com

A Fannie Mae Experience

I had the pleasure last week to write an offer on a Fannie Mae property in the Huntington Forest subdivision of South charlotte.  In the last 12 months, I’ve been a part of at least 12 distressed property closings either on the list or sale side of the deal, however, this is my first Fannie Mae Transaction.   To this point, it has been an unbelievably easy transaction.  Here it is:

1)       We viewed the property and comparable properties

2)      We ran a comparative market analysis for past 12 months in the neighborhood.

3)      We drew up the offer and submitted as good homes Sale Quick!

4)      In less than 24 hrs, Fannie Mae countered and we accepted….WOW! 

I’m used to these transactions dragging on for days before the banks respond and usually by the time the bank responds, you find yourself in a multiple offer situation!  Fannie Mae made necessary repairs before the home hit the market and I don’t see much of a chance of this thing falling through as the communication is Top Notch.  I’ll let you know how it goes as we are scheduled to close by 6/11/2011.

Bryant Stadler, ePRO Realtor

www.BryantStadler.com

Search for Charlotte, NC Summer Camps in 2011

For those of you finding yourself in a quick pinch for summer entertainment for the kids, I ran across this search in the Charlotte Observer which will help expedite your search for summer camps....Click Here.  As an FYI....I've heard great things about Camp Thunderbird and I know the local YMCA's offer great programs.  Good Luck! 

On another note, I notice some bad press about lagging sales for April compared to March.  Just like the press to try to burst the balloon when the tables are turning!  I'll pull some stats for my next post so we can get the details straight from the MLS source.

Bryant Stadler, ePRO
www.BryantStadler.com

Charlotte, NC Schools receive "School Quality Reviews"

Schools located within the Charlotte Mecklenburg School District have or will participate in a School Quality Review.  This review is designed to create a clear picture of the quality of education a child can receive in each respective school.  Schools graded include PreK, Elementary, Middle, High, Alternative School and  Exceptional Children Schools.  Although some reviews took place a few years back, most have recently participated within the last year.  I found this information particularly useful! 

OUTLINE

The two-day review is led by a team of three highly experienced and trained educators.  Each school receives a qualitative investigation of six criteria:

• Achievement
• Learning and Teaching
• Curriculum
• Leadership and Management
• Learning Environment
• Involvement of Parents and the Community 



CLICK HERE FOR REVIEWS

Bryant Stadler, ePRO Realtor

http://www.bryantstadler.com/

Charlotte Hosts the Wells Fargo Golf Championship

It's that time of year again when Quail Hollow Club hosts the annual Wachovia Wells Fargo Championship PGA event.  We are proud to call our Queen City host for this annual Golfing event and I know that those spectators traveling to Charlotte will enjoy the accommodations.  I've attended the event several times but won't be so fortunate this year as work is keeping me from attendance.  Truth be known, I can hold off for another year to wait for my 7-year-old to get another year of maturity under his belt ... he's a HUGE golf fan but I doubt he could handle 6 hours of watching golf at this age. 
If you happen to be traveling to see the tournament, make sure you take the time to sneak in some sight-seeing.  I highly recommend enjoying some of the fine restaurants in the Dilworth and Midwood areas.  For fine shopping...South Park will fit the bill.  Take a tour of the NASCAR Hall of Fame in uptown or simply catch some sun and libations at Ballantyne Village.  Click Here for more "things to do" in Charlotte and above all else, take the time to relax and take in what Charlotte has to offer!

Bryant Stadler, ePRO Realtor

www.BryantStadler.com

Will You Price your Home to Show or Sell?

I'm now Midway through my 4th year in real estate and am proud that I have weathered the storm and have built a successful business for myself and family.  The truest reward of my efforts has been all the friends I have made along the way.  Many of my past clients are a big part of my personal life now and I value the friendships that have been built.  I can tell you, though....many of these relationships started out rough. Why?  Well, you try looking a proud homeowner in the eyes and telling them that the market value of their home isn't close to where they see the value.
Lets talk about pricing:  Folks, you have to understand that my opinion of your home means nothing and respectfully meant, neither does the homeowners opinion.  Likewise, you know your neighbor that had their home appraised for a refi 2 weeks ago and the number justified your pricing??  ....doesn't mean a thing as appraisal value and market value are completely different things.  Remember, a house is ONLY worth what a buyer is willing to pay and what a seller is willing to sell.
Three things will keep a home from selling:  1) Condition 2) Location 3) Pricing.   Now, all of this being said, it is the responsibility of the agent to market your home effectively to give more exposure to potential buyers.  Lets be honest, the days of putting a home on the market and expecting flocks of people to show up at your door step are over.  Effective marketing is VERY important and this doesn't mean just entering it into the MLS and throwing a yard sign and flyer box in the yard(I'll get back on task as marketing will be another blog post).  Soooo ......  If you have a home on the market and are not getting showings but you are sure your agent is marketing effectively,  then you have to accept the fact that the MARKET is rejecting your home.  What will you do about it?
I'll leave you with these thoughts:  When you list your home, decide what is more important>>>Time or Money?  Once this question has been defined, your decisions become easier.  After all, so you want to SELL or do you want to simply BE ON THE MARKET?

Bryant Stadler, ePRO Realtor
www.BryantStadler.com 

Must Read Article from Fortune Magazine

This is a GREAT read from Fortune Magazine addressing why Real Estate is making a rebound as the best investment for the dollar.  The article is written by Shawn Tulley who interviews Metrostudy CEO, Mike Castleman, about his take on new construction inventory across the country and it's relevance to our future market.  Click Here for the link if you would like to pass it along. This article is gives adds some teeth to the uptick I have felt in the Charlotte market.

Bryant Stadler, ePRO ... www.BryantStadler.com

Real estate: It's time to buy again

Posted by Shawn Tully, senior editor-at-large

March 28, 2011 5:00 am

Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.

A home under construction in Austin. The number of new homes in the pipeline nationwide is quite low.

From his wide-rimmed cowboy hat to his roper boots, Mike Castleman fits moviedom's image of the lanky Texas rancher. On a recent March evening, Castleman is feeding cattle biscuits to his two pet longhorn steers, Big Buddy and Little Buddy, on his 460-acre Bar Ten Creek Ranch in Dripping Springs, a hamlet outside Austin in the Texas Hill Country. The spread is a medley of meandering streams, craggy cliffs, and centuries-old oaks. But even in this pastoral setting, his mind keeps returning to a subject he knows as well as any expert around: the housing market. "I'm a dirt-road economist who sees what's happening on the ground, and in 35 years I've never seen a shortage of new construction like the one I'm seeing today," declares Castleman, 70, now offering a biscuit to his miniature donkey Thumper. "The talking heads who are down on real estate will hate to hear this, but America needs to build a lot more houses. And in most markets the price of new homes is fixin' to rise, not fall."
Castleman is in a unique position to know. As the founder and CEO of a company called Metrostudy, he's spent more than three decades tracking real-time data on the country's inventory of new homes. Each quarter he dispatches 500 inspectors to literally drive through 45,000 subdivisions from Baltimore to Sacramento. The inspectors examine 5 million finished lots, one at a time, and record whether they contain a house that's under construction, one that's finished and for sale, or a home that's sold. Metrostudy covers 19 states, or around 65% of the U.S. housing market, including all the ones hardest hit by the crash: Florida, California, Arizona, and Nevada. The company's client list includes virtually every major homebuilder and bank -- from Pulte (PHM) and KB Home (KBH) to Bank of America (BAC) and Wells Fargo (WFC).
The key figures that Metrostudy collects, and that those clients prize, are the number of homes that are vacant and for sale in each city, and the number of months it takes to sell all of them. Together those figures measure inventory -- the key metric in determining whether a market has a surplus or a shortage of new housing.

Today Castleman is witnessing an extraordinary reversal of the new-home glut that helped sink prices just a few years ago. In the 41 cities Metrostudy covers, a total of 78,000 houses are now either vacant and for sale, or under construction. That's less than one-fourth of the 343,000 units in those two categories at the peak of the frenzy in mid-2006, and well below the level of a decade ago. "If we had anything like normal levels of buying, those houses would sell in 2½ months," says Castleman. "We'd see an incredible shortage. And that's where we're heading."
If all the noise you're hearing about housing has you totally confused, join the crowd. One day you'll read that owning a home has never been more affordable. The next day you'll see news that housing starts have plunged to nearly their lowest level in half a century, as headlines announced in March. After four years of falling prices and surging foreclosures, it's hard to know what to think. Even Robert Shiller and Karl Case can't agree. The two economists, who together created the widely followed S&P/Case-Shiller Home Price indices, are right now offering sharply contrasting views of housing's future. Shiller recently warned that the chances were high for a further double-digit drop in U.S. home prices. But in an interview with Fortune, Case took a far brighter view: "The lack of new home building is a huge help that a lot of people are ignoring," says Case. "People think I'm crazy to be optimistic, but housing is looking like the little engine that could."
To see where real estate is truly headed, it's critical to keep your eye firmly on the fundamentals that, over time, always determine the course of prices and construction. During the last decade's historic run-up in prices, Fortune repeatedly warned that things were moving too fast. In a cover story titled "Is the Housing Boom Over?," this writer's analysis found that the basic forces that govern the market -- the cost of owning vs. renting and the level of new construction -- were in bubble territory. Eventually reality set in, and prices plummeted. Our current view focuses on those same fundamentals -- only now they're pointing in the opposite direction.
So let's state it simply and forcibly: Housing is back.
Two basic factors are laying the foundation for dramatic recovery in residential real estate. The first is the historic drop in new construction that so amazes Castleman. The second is a steep decline in prices, on the order of 30% nationwide since 2006, and as much as 55% in the hardest-hit markets. The story of this downturn has been an astonishing flight from the traditional American approach of buying new houses to an embrace of renting. But the new affordability will gradually lure Americans back to buying homes. And the return of the homeowner will start raising prices in many markets this year.

Drumming up sales

Of course, home prices are low and home construction is weak for a reason: incredibly low demand. For our scenario to play out, America will need a decent economy, with job creation and consumer confidence continuing to claw their way back to normal.
One big fear is that today's tight credit standards will chill the market. But we're really returning to the standards that prevailed before the craze, and those requirements didn't stop prices and homebuilding from rising in a good economy. "The credit standards are now at about historical levels, excluding the bubble period," says Mark Zandi, chief economist for Moody's Analytics. "We saw prices rising with fundamentals in those periods, and it will happen again."
To see why, let's examine the remarkable shift in home affordability. A new study by Deutsche Bank measures affordability in two ways: first, the share of income Americans are paying to own a home. And second, the cost of owning vs. renting. On the first metric, the analysis finds that homeowners now pay just 9.8% of their income in after-tax mortgage, tax, and insurance payments. That's down from 17.2% at the bubble's peak in 2007, and by far the lowest number in the Deutsche Bank database, going back to 1999. The second measure, the cost of owning compared with renting, should also inspire potential buyers. In 28 out of 54 major markets, it's now cheaper to pay a mortgage and other major costs than to rent the same house. What's most compelling is that in all of the distressed markets, owning now wins by a wide margin -- a stunning reversal from four years ago. It now costs 34% less than renting in Atlanta. In Miami the average rent is now $1,031 a month, vs. the $856 it costs to carry a ranch house or stucco cottage as an owner. (For more, see The top 10 cities for home buyers)
Not all markets will bounce back equally, of course. Housing resembles the weather: The exact conditions are different in every city. But in general the big U.S. markets fall into two different climate zones right now. We'll call them the "nondistressed markets" and the "foreclosure markets." A more detailed look shows why the forecast for both is favorable.
Nondistressed markets: Ready for launch
No cities went untouched by the collapse in prices over the past few years. But markets such as Northern Virginia, Indianapolis, Minneapolis, San Diego, the San Francisco suburbs, and virtually all of Texas held up reasonably well. In those areas prices spiked far less than in bubble cities -- the foreclosure markets we'll get to shortly -- chiefly because they didn't get nearly as many speculators who thought they could flip the homes or rent them to snowbirds.
The nondistressed markets will be able to get prices rising and construction growing far faster than the harder-hit areas for a simple reason: Although some of these markets are still suffering from foreclosures, they don't need to work through the big overhang haunting a Las Vegas or a Phoenix. The number of new homes for sale or in the pipeline is extraordinarily low in nondistressed markets. San Diego is typical. It has just 921 freestanding homes for sale or under construction, compared with 4,425 in late 2005. The challenge for these cities is to generate enough demand to reduce inventories of existing, or resale, homes. In the entire country the resale supply stands at 3.5 million houses and condos. That's a fairly high number, since it would take more than eight months to sell those properties; seven months or below is the threshold for a strong market.
But in the nondistressed cities, the existing home inventory is lower, closer to seven months on average. So a modest increase in demand will translate into strong gains in both prices and new construction. That should happen quickly, because most of those markets -- including Silicon Valley, Northern Virginia, and Texas -- are now showing good job growth.
Zandi of Moody's Analytics expects that prices will rise three to four points faster than inflation for the next few years in virtually all of the nondistressed markets. His view is that prices will increase in line with rents, which are now growing briskly because apartments are in short supply. Those higher rents will encourage buyers to cross the street from an apartment to a home of their own.
In Northern Virginia, Chris Bratz, an engineer, and his wife, Amy DiElsi, a publicist, are planning to leave their rental apartment and become homeowners for the first time. The main reason? Buying has simply become a far better deal than renting. "The market got completely inflated, then it crashed, so prices are coming back to where they should be," says Chris. As the couple have watched prices fall, they have also watched the rent on their apartment spiral upward, reaching $2,700 a month. They calculate that they should be able to purchase a townhouse for between $400,000 and $500,000 and pay less per month for a mortgage.
The nondistressed markets will also lead the way in construction. Zandi predicts that for the nation as a whole, single-family housing "starts" -- measured when a builder pours a foundation for a new home -- will rise from 470,000 in 2010 to as much as 700,000 this year. A large portion of that activity will happen in nondistressed markets where a tightening supply of resale houses will start making new homes look like a good deal. "Our main competition is from resales," says Jeff Mezger, CEO of KB Home. "The prices of those homes have stayed so low, because of low demand, that it's hampered the ability of builders to sell new houses."
But many would-be buyers simply prefer a brand-new house. Eventually they'll move from renters to buyers, and the trend will accelerate now that prices are no longer dropping. In Minneapolis, Yuan Qu and her husband, Xiang Chen, a researcher at the University of Minnesota, just moved from a two-bedroom rental to a new light-blue four-bedroom ranch with a chocolate-colored roof on a spacious corner lot. They paid $400,000, a bargain price compared with a few years ago. The couple, both in their early thirties, moved to Minnesota from China six years ago. "We wanted to buy a house, and we've been waiting and waiting and waiting," says Qu. "The prices went down for so long, we finally thought they couldn't keep falling." For Qu the only choice was new construction. "We're not very handy people," she admits.
Foreclosure markets: The outlook is brightening

A home off the market in Mesa, Ariz.

The true disaster areas for housing since the bubble burst have been Sunbelt cities such as Las Vegas, Phoenix, and Miami -- places that boasted great job and population growth in the mid-2000s, only to suffer a housing crash that swamped them with empty homes and condos and crushed their economies. But people always want to live in those sunny locales, and their job markets are starting to recover, albeit slowly. In foreclosure markets the inventory problem is far greater because it includes not just traditional resale homes but millions of distressed properties. Fortunately those houses are now such a screaming deal that investors, including lots of mom-and-pop buyers, are purchasing them at a rapid pace. To be sure, some foreclosure markets won't rebound for years because they're both vastly overbuilt and far from big job centers; a prime example is California's Inland Empire, a real estate disaster zone 80 miles east of Los Angeles.
But the outlook is brightening for Phoenix, Las Vegas, Miami, and parts of Northern California. A big positive is the tiny supply of new homes entering the market. Phoenix, for example, has a total of just 8,100 new homes that are either for sale or under construction, down from 53,000 in mid-2006. The big test in these cities is absorbing the steady stream of distressed properties. The foreclosures put downward pressure on the market far out of proportion to their numbers because of markdown pricing. "We had levels of inventory even higher than this in 1990 and 1991," says MIT economist William Wheaton. "But they were traditional listings, not foreclosures, so they didn't create the big discounts you get with foreclosures."
Wheaton reckons that we'll see a flow of around 1 million foreclosures a year, at a fairly even pace, from now through 2013. That figure is frequently cited as evidence that the market is doomed for years in most foreclosure markets. Not so. The reason is that the vast bulk of those units, probably over 600,000, according to Gleb Nechayev, an economist with real estate firm CB Richard Ellis (CBG), are being converted to rentals either by investors or their current owners. Those properties are finding plenty of renters, since the rental market is still extremely strong across the country. Remember, the millions who lost their homes to foreclosure still need somewhere to live.
A typical investor is Alex Barbalat, a Russian immigrant who's purchased seven homes east of San Francisco in the towns of Bay Point, Antioch, and Pittsburg. His average purchase price is around $100,000 for homes that once sold for between $300,000 and $500,000. But he has no trouble finding renters, since his tenants can commute to jobs in San Francisco on the BART transit system. Barbalat is pocketing rental yields on the prices he paid of around 12%, and he's in no hurry to sell. "I'm holding them until prices drastically rise," he says.
Investment funds are also entering the game. Dotan Y. Melech looks for bargains in Las Vegas for UnitedAMS, a firm he co-founded that manages apartments and other real estate investments. The firm has raised more than $20 million from outside investors to purchase distressed properties. So far, Melech has bought around 300 houses and plans to purchase another 200 this year. He has no trouble renting the houses he buys, since, he estimates, occupancy rates in Las Vegas are touching 95%. The "cap rate," or return on investment after all expenses, is between 8% and 10% -- twice the rate on 10-year Treasuries. Melech rents to people who lost their homes but are reliable renters. "A lot of people can't be buyers because their credit got hurt," he says.
Even with investors jumping in, buying activity in foreclosure markets hasn't yet increased enough to bring inventories down. It will soon. Zandi thinks prices will fall a couple of percentage points lower in the distressed markets in the short run. "But that will be overshooting," he says. "It's like an elastic band. If prices do drop this year, they will need to bounce back because they'll be far too low compared with rents and replacement cost." Renters will come off the sidelines to purchase homes in the years ahead, precisely the opposite trend of the past few years.
Consider the example of Michael Dynda, a retired Air Force avionics technician who now works for a government contractor in Las Vegas. Dynda, 49, is a first-time buyer who put off purchasing for years, in part because prices were falling so rapidly in Las Vegas, with no bottom in sight. But last year the combination of bargain prices and low mortgage rates became too good to resist. He ended up purchasing a 2,300-square-foot stucco home for $240,000, or about half what it would have fetched in 2007. Dynda got a 4.38% home loan, and pays the same amount on his mortgage as on the rent on the house he left to become a homeowner. "The timing was about as good as it could get," says Dynda.

Mike Castleman's company tracks the inventory of new homes in 19 states across the country. He sees supply getting tight. "Home prices are fixin' to rise," he says.

Back on the ranch, Mike Castleman is lounging in his creek-front mansion, built from "a hundred tons of fine central Texas limestone." As he shows off his collection of custom-made guitars, including one crafted to resemble the skin of a rattlesnake, the homespun housing guru once again returns to his favorite topic.
Castleman claims that this recovery will look like all the others: It will bring a severe shortage of housing. He invokes the livestock business to explain. "It takes three years between the time a bull mates with a cow and when you get a calf ready for market," he says. "That's how it is in housing too. We'll get a big surge in demand and the drywall companies will take a long time to ramp up, and it will take years to get new lots approved. Buyers will show up looking for a house in a subdivision, and all the houses will be sold. The builders will tell them it will take six months to deliver a house." But those folks, says Castleman, will be set on buying a place. "And they'll want it so bad they'll bid the prices up!" In other words: Beat the crowd.
It's a Great Time to Buy a House
Mike Castleman, the Texan with the best realtime view of housing in the U.S., tells editor-atlarge Shawn Tully that the naysayers are about to get a big surprise: rising prices for new homes.