Opening Day Baseball in Charlotte, NC?

7 years ago, I moved my family to Charlotte, NC from Denver, Co.  As I was driving to the office this morning, I had to reflect back on the good times I had every year around this time ..... Opening day of major league baseball at Coors Field.  You have to understand that I am not a huge baseball fan by any stretch of the imagination.  In fact, I'll watch a golf tournament before I will watch a baseball game on television.  But there is something about going to a ball game that tops about any other event.  Maybe it's the crowd atmosphere or the smell of smoked brats and the crackling of peanuts.  Whatever it is, I miss those days and wish Charlotte, NC could acquire a major league team.
About 10 miles south of Uptown Charlotte (on I-77), in Fort Mill, SC, we have a minor league AAA team ... the Charlotte Knights.  Opening Day for Triple A ball is in a week and I've made a committment this year not to snub by nose at the minor league organization.  After all, the Knights are a farm team for the Chicago White Sox.  Every year my wife and I have made plans to attend a game around the 4th of July, but something always comes up.  My pledge to my son is this is the year we go ... no exceptions!  I have heard from MANY neighbors here in Hunter Oaks, that the synergy at the park is as good as any major league field.  I guess I will find out for myself and report back!

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

What is a Bedroom II ... Charlotte, NC

Just a follow up from my post on 3/29:  I spoke with the North Carolina Real Estate Commission about the issue at hand regarding a true definition of a bedroom.  The conversation was great and made me realize that I needed a kick in the rear end for overlooking an important aspect .... local municipalities will set the parameters of what can truly be considered a bedroom.  In actuality, the NCREC has no definition.  Ouch....I should have recalled that from pre-licensing!  The thing about real estate is that you constantly have to seek answers to all types of questions and not be afraid to ask the questions if you don't know the answer (hope that makes sense). 
 This  "what is a bedroom (by definition in Charlotte,NC)" actually came full circle as I have a 1.5 story home in Union County that has a finished bonus upstairs, egress window and a free-standing closet (not built-in).  Sooooo....I placed a call to the Union County Building Code Department to find out if I can call the bonus a 4 br/Bonus Room.  Wouldn't it be great if I could list the home as a 4 br instead of 3 br???? 
More to come......

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

What is a Bedroom?

I had a client call me last night to ask a question about the North Carolina Real Estate Commissions definition of a bedroom.  The question wasn't pertaining to his home, rather he has a friend that ran into a snag when listing his home (subject property).  It appears that when the friend purchased his home, it was listed as a 3 bedroom home and he purchased it as such.  A few years later, he is looking at selling his home and wanted to market it as a 3 bedroom home.  Well, turns out there is not a constructed closet in the room, rather there is a free-standing Wardrobe closet, of which was there when he made the purchase years ago.  The listing agent brought this to his attention and stated he could not market the home as a 3 bedroom but could market it as a 2 bedroom.  He stood his ground and stated that when he purchased the home it was listed as a 3 bedroom as the free-standing wardrobe closet conveyed with the home.   Hmmmm.......
Now, not wanting to give bad information, I informed my client that what I remembered from prelicensing was that a bedroom must have an egress window, constructed closet(permanent), clear intention that room is used as a bedroom (must be large enough to accommodate a bed) and entry to the room from a common area of the house.  Funny thing, is that I realized, over the years, I've run into different interpretations of bedroom definitions and that I wanted to refer to my Real Estate manual so we could get a firm definition.  In the meantime, I jumped on the North Carolina Real Estate Commissions website and found this article:  Click Here
Looks like I will be doing a little more research today, as even this published article is somewhat gray.  More to come!

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

Hunter Oaks Neighborhood

Hunter Oaks is a vibrant neighborhood located just over the Mecklenburg County line in South Charlotte.  Taxes are considerably lower in Union County and the School District for the neighborhood is fantastic (Reaview and Marvin Ridge)!  Homeowners are generally in the mid 30's to mid 40's and the neighborhood is very kid friendly.  Hunter Oaks is governed by a solid HOA (Braesel Management) and the community has several social gatherings throughout the year.  2 swimming pools, several playgrounds and tennis/basketball courts are available throughout ... fun for all ages!  Homes can generally be purchased in a range from the mid 200's to mid 400's depending on the model and location.  The neighborhood is 5 miles from 485 for easy access to the city, a mile from Blakeney Shopping Center and about 4.5 miles from Stonecrest and Ballantyne.  All in all, you would be hard pressed to find a better neighborhood in Union County that is this affordable! 

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

Latest on Multiple Offer

Referencing the multiple offer transaction as posted on 3/18/11:  I have to give kudos to the selling agent.  The buyer has a 32′ x 8′(w) RV that is essential for his job as he travels with the NASCAR circuit.  You can only imagine the perils they have faced in purchasing a home that is governed by HOA Covenants and Restrictions.  Although Cramer Woods (subdivision) C&R’s look clean for RV’s, the agent has instructed the closing attorney to research the covenants to make sure there are no snags down the road.  This was done after he had reviewed the documents I sent him and after he called the attorney that drafted the restrictions!  It’s better to have this information (whether it’s good or bad news) on the front side of the transaction than to find out at the closing table.  This is a great example of a buyers agent doing what should be done in the clients best interest!

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

Lunch at Firebirds in Ballantyne

Like many ""Charlotteans", I've eaten dinner with my wife and kids many times at Firebirds in South Charlotte (Ballantyne) and have always enjoyed a great steak dinner with super side dishes, great appetizers and of course, a good beer.  BUT...I've never stopped by for lunch.  The streak is over as I treated a previous client to a lunch on Wednesday and he opted for Firebirds.  I was shocked at how busy the restaurant was.  I bet the house was 90% full and I was pleased to see that it was not only business professionals enjoying this fine food.  I opted for the A-1 Burger and Tom had the 9oz Sirloin while Maggie opted for the Coconut Shrimp....all of which were FANTASTIC.  The lobster spinach queso was a perfect choice for a starter.  The tab was less than $50 and fun was had for all.  It's always a pleasure to catch up with a past client that has turned out to be a good friend! 
And.....BTW....the changes they've made to their Ballantyne home is incredible!  I actually gained a new painter vendor to my referral list as I was dumfounded by the interior paint job that was performed on their home and couldn't believe how aggressive the pricing was!

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

Short Sale Purchase in Dilworth

I just got word last night that my buyer client is in first position with her offer to purchase a distressed condo that is in short sale in uptown Charlotte.  The note is held by Bank of America and the listing agent has been instructed to use BOA's equator system (electronic software used as communication between negotiator and listing agent).  Our first line of business, once we found out, was to have our closing attorney complete a preliminary HUD 1 or settlement statement showing disbursement of all funds.  The purpose of this blog entry is to share our strategy as each and every short sale is different. 
Before we placed the offer, I called the HOA to find out the status of the sellers payment history, as the seller informed the listing agent she was current.  After speaking with the HOA president of this community, I found out the seller had back fees of over $1,500 as well as an upcoming assessment amount of $3,600 that matures in May!  Do the math....thats $5,100 that my client would most likely have to pay at closing if we did not catch this on the front end of the transaction and before we submitted the prelim HUD.  This being said, I have had this happen before and managed to get the bank to pay the delinquent monies but only after we had to submit a new offer and go through the approval process again ..... this set us back about 2 weeks.  I have a gut feeling this property may have a tax lien against it as well so I have instructed (with my clients permission) the attorney to perform a full title search on the property before we submit the HUD to the bank.  Worse case scenario is that my client has to pay the attorney's office $175 for the title search if she does not close on the property.  A small price to pay in the long run to prevent any last-minute surprises!

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

Understanding Due Diligence

As of January 1, 2011, the Charlotte Regional Realtors Association began using a new offer to purchase that utilizes a due diligence time frame and due diligence fee.  Basically, these terms give the buyer the right to perform all due diligence  (within a certain time frame) enabling them to make an informed decision as to whether or not to proceed with the purchase of the property.  During this time frame, the buyer should perform all inspections of the home, start the loan process (including appraisals), work through repair requests, complete surveys, review all documents, review all restrictions and zoning and anything else that the buyer choses.   At the end of the due diligence time frame, the buyer can proceed with the purchase or walk for any or no reason.
Along with the due diligence time frame there is also a due diligence fee.  In a nutshell, this fee is a negotiated amount between buyer and seller and made payable to seller.  This fee allows the buyer the right to perform due diligence.  The amount is credited to the buyer at closing and is non-refundable unless there is a material breach of contract or if seller cannot deliver clear title.
All in all, I believe our contract is much better with the due diligence addition as we have eliminated the over abundance of deadlines to meet with inspections, repair requests and loan process.  It's a much cleaner and friendlier contract.

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

Spring Time Showings in Charlotte

It's that time of the season!  Spring is in the air and showings are picking up as home buyers every where are gearing up for a real estate purchase.  As I make the rounds, checking on my inventory, I'm always aware of the buildup of pollen that collects on my listed homes.  It's not hard to notice as the yellow haze from pollen builds up on the exterior, driveways and sidewalks of homes.  Charlotte is notorious for its pollen count and allergy season.
Home Sellers:  Now is the time to be meticulous about your spring cleaning.  Take the time to make sure the pollen is cleared from the entry way into your home.  Wiping down the front door should be a daily routine as this is the real estate buyers first impression of your home.  It may not hurt to break out the power washer and hose off the mildew, dust and pollen of the exterior.  Change out those hvac air filters indoors and get the specialist out to make sure your air conditioning is up to snuff as nothing could be worse than a non-functioning AC unit here in the Carolinas!  Get the lawns manicured and add some color to your landscaping as curb appeal is a must and will help your home stand out from the mass inventory!  Best of Luck!

Bryant Stadler, ePRO Realtor
www.BryantStadler.com

Withers Grove Subdivision

Withers Grove is a well-developed community located in the Southwest portion of Charlotte Mecklenburg County(in Steele Creek).  The community mostly consists of smaller (1200-2600 sq ft) ranch and 2 story homes that sit on an average .25 acre lot.  Withers Grove boasts and abundance of mature trees while surrounding neighborhoods were clear-cut (removal of large trees) so more homes could be built side by side.  It’s a friendly neighborhood where people often gather in cul-de-sacs during the weekends to chat while watching the young people play.  The drive home from work or play allows a person to relax while enjoying the gorgeous country side scenery while navigating gently winding roads through the country.  A home buyer can most likely find a home from the low 100’s to low 200’s … what a steal!  Winget Park has a trailhead that is located in the community and residents are minutes from local schools.  For South Charlotte’s finest eateries and shopping, Rivergate Shopping Center is just minutes away!  OH YEA….are you a lake person?  Great news … Lake Wylie is a short drive down Highway 49.  Charlotte is proud to have quaint neighborhoods like Withers Grove as an option for those relocating to the South!  Take a virtual tour of one of many homes located in the neighborhood:  12343 Autumn Blaze and remember, that real estate has never been more affordable in the Carolinas!
Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/

Multiple Offer Part 2 ...

I got the dreaded call this morning that the buyer of the home in Gastonia got cold feet and backed out.  UGGGHHHH!  I had to remind myself that calm, collected heads will prevail.   The first action was to call the agent in second position to bring to his attention that if his clients offer was still on the table, we would like to work it to see if we could all come to terms.  Second action was to call my client and let them know what was going on.  Luckily, my clients are experienced in real estate transactions so their approach was that of a business transaction and nothing personal.  Together we came up with a strategy and worked it out with the party in second position.  By 5 p.m. eastern time, we were back under contract and avoided a real estate pitfall.  The smartest move we made was how we dealt with the multiple offers.  Instead of pitting both parties against each other and creating a bidding war, we chose the strongest offer to begin with and worked it .  Even though the buyer backed out, we did not feel we were in a bad position with the secondary party when I made the call this morning.  The selling agent actually made mention that he felt his client would be receptive to keeping the offer on the table as we didn't play games when holding the cards in the multiple offer situation.  Whew!
I'll let you know how it turns out as we are scheduled to close on 4/19.
Bryant Stadler, ePRO Realtor
http://www.bryantstadlerhomes.com/

Power of the Multiple Offer

About 3 months ago, I picked up a gorgeous 1.5 story/basement home from a friend who wanted me to market the home to sell.  The home sits in the Cramer Woods subdivision of Gastonia (about 20 miles outside of Charlotte).  The previous 2 agents had not had much luck in showings or offers on the home.  After we sat down and addressed the price, we decided to list the home at $389,900 ... a tough price point in this market.  Our best shot at selling this home (Gastonia is definitely a niche market) was to entice buyers to view by shooting good shots of the home (obviously) but also stitching together a virtual tour that highlighted the great 1.4 acre lot and we had to sell the lifestyle ... which was shooting the Catawba River and the many great local eateries and a popular outdoor activity site.  Long story short, we ended up having four interested parties and today I received multiple offers of which we chose one and are now under contract!  I can't share the details of the transaction until we close, but I can tell you that both seller and buyer walked away happy to this point!  We still have a long way to go, but to be positioned in a multiple offer situation in this market was a great feeling! 
I was never a big fan of Gastonia as I guess it just seemed to rural for my taste.  After driving through Belmont and Cramerton a few times over the past month or so, I have come to realize why people are drawn to that area.   I'd highly recommend this area of Charlotte for any person searching for a City with a Rural Soul!
Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/

Recent Charlotte Real Estate Statistics

On a monthly basis, I will post a newsletter to my blog site(s) reflecting the previous months statistics as released by the Charlotte Multiple Listing Service.  This information should be useful to those outside the area who are trying to capture a snapshot of the Charlotte metro area Real Estate market.  The newsletter will include the following information:

• Entire Residential Closing #'s
• Current Active Listings
• Previous Months Closings
• Total Closed Units by Area
• Pending Contracts
• Average Closing Price(s)
• Mortgage Rates
• General Charlotte Real Estate Info

Click the following Link and Let me know what you think ....  Bryant Stadler March Newsletter
Bryant Stadler, ePRO Realtor
bryant@BryantStadlerHomes.com

Charlotte Mecklenburg School(s) Rankings

Seems like I've been receiving a lot of calls over the past 2 weeks from clients moving to Charlotte from out of state.  The number 1 question:  what is the best school district.  As a parent, I understand the importance of this question.  As a realtor, I'm ethically not allowed to give my opinion, however, I can direct callers to certain websites.  For an easier method, I've attached a few links to make the search results a little easier for the consumer.  Hope this helps!

COHORT%20GRADUATION%20RATE

Test%20Composites%20by%20school


Bryant Stadler, ePRO
bryant@BryantStadlerHomes.com

Dining at Aroojis in South Charlotte

Thumbs up to Aroojis in the Ballantyne area of South Charlotte! My wife and I decided to dine out with our neighbors to celebrate a birthday. We all decided on Aroojis at the Promenade. The beer was cold and the food was fantastic. My wife had the Salmon Picatta and absolutely raved about it. This is a big kudos as she is half Greek and grew up on a Mediterranean diet. I had the special ... seafood combo (shrimp, clams and calamari) in a spicy vodka sauce with linguini .... and it was AWESOME! The overall atmosphere was warm and inviting although a bit cramped for a party of 7(one of the husbands couldn't make it). You get what you pay for and it was a bit pricey but worth every penny!

Pre Closing Walthrough in Charlotte (Gastonia)

It hit me today how important the final walk-through is to the entire real estate buying transaction. My client had purchased a home in Gaston County, NC ... about 20 miles west of Charlotte on I85. She found a great 1925 Ranch Home in the Historic District of Gastonia. Use your imagination on what the inspection report looked like. We showed up at the home at 8:30 for the final walkthrough as we were in the home 5 days prior and no repairs had been made. I brought along a copy of the inspection report along with the repair request addendum. Slowly but surely, we checked the hvac repairs, electrical repairs, caulking repairs and all others that pertained to our mission. We noticed that the seller had overlooked caulking the exterior portion of the windows. We debated whether or not it was important enough to bring to the sellers attention at the closing table. We knew a tube of caulk would only cost about $5 at the local Home Depot so money wasn't really the issue. The issue was that my client wasn't able to move into the home for about 30 days and Charlotte has been experiencing a lot of rain over the past 2 weeks. The issue was the damage that could occur if moisture was to penetrate the trim before she could get to the task of repairing. We decided to speak with the sellers agent about this issue. The seller immediately got on the phone and contacted a handy man to get on the project ASAP. Problem solved and we closed the home in a successful manner ... everybody won as the seller sold and the buyer purchased her dream home.

I couldn't help to think about this small obstacle today and how many times I've heard horror stories about real estate transactions falling apart over something as small as missing caulk. We avoided the tragedy by politely brining this to the sellers attention and they were more than happy to oblige and hold true to their end of the bargain. It hit me how important the final walk-through is to my clients and I actually realized something as well: At my next walk-through, I may wear jeans and a t-shirt as I stained my white dress shirt checking out the chimney damper!

Upward.org Athletic Program in Weddington

My wife and I recently enrolled our son in the Upward.org Basketball program hosted by the Weddington Methodist Church (South Charlotte metro in Union County). Our son is 7, and although he doesn't have the greatest athletic ability, he still enjoys playing ball ... any type of ball. Through the years we've enrolled him in different programs through the YMCA and other organizations. For his first year of basketball, we decided to give the upward.org program a shot. The 8 game season went fast and we wrapped up the season with a bbq at his coaches house this evening and had a wonderful time. At the bbq, I had some time to reflect back as I watched my son play with his new friends. I feel like the program was perfect for teaching our son about competition, teamwork and skill building which is important for any child. The most impressive thing about this program was that the emphasis was not centered on winning .... as a matter of fact, time is kept during the games but not score. The foundation of the program is to get all kids involved, no matter what their skill level is. To see these boys and girls run onto the court when their names were called and to know that each child was going to get equal playing time was a great feeling.

For those of you living in Charlotte (or anywhere else for that matter), I'd highly recommend checking out the program to see if there is a possibility of a fit for your child. I highly doubt your expectations will fall short.

Short Sale Heads Up

Good Saturday morning to all! What a gorgeous day to be in the Carolina's. Temp is going to be around 65 or so with a peak of 70 on Sunday!

Down to business. As I'm sitting here prepping for my 1-3 pm Open House, my mind started reflecting back on some of the trials and tribulations I experienced during 2010. One of the most shocking moments I experienced was on a Short Sale transaction (go figure, right?). I can speak tell you, nothing will "suck your will to go on living" more than a cloud on the title right before closing. Now I'm not talking a tax lien or hoa lien as those are common place and can be discovered before the title search by a capable agent. No......what I'm speaking of is a credit card lien. In my transaction, the closing attorney discovered the lien on the property about a week before closing and it was a $30,000 lien! My buyer client was devastated as the transaction appeared to be dead in the water and her family had nowhere to go. Always remember, cool heads WILL prevail. I counseled with the listing agent (who was also unaware of the lien) along with the closing attorney. The plan of action was to have the attorney contact the lien holder and try to negotiate down the settlement amount to an acceptable number ... after all, if they can't settle, the chance of the cc bank getting anything in a foreclosure is slim to none. Of course the bank wasn't willing to do much as they wanted their money ... and rightfully so. The next plan was to see if the bank would release the lien attached to the home so we could free the property to close. Of course, this meant the seller would have to personally assume the balance due on their own. The problem here is that most people who are Short Sale candidates do not have the money to pay off a loan. Long story short, the seller agreed to assume the balance (in writing) so that the buyer could close on her home.

The lesson here is simple. If you are the buyer of a short sale, pay the money up front to have a title search completed on the subject property so you know what you are getting in to. A title search in the state of NC won't cost that much and is worth every penny ... after all, the deal for the buyer is in the price of a distressed home so pennies out of pocket on the front end of the transaction will save headaches on the back end! If you are the listing agent of a short sale, I would advise you to seriously consider having a title search run on the home before picking up the listing. I'm not suggesting by any stretch that a seller would flat out lie about a known lien, but sometimes, when we feel the weight of the world on our shoulders, we tend to overlook obstacles that may stand in the way of helping us achieve our goals. The third lesson .... an aggressive "never say die" attorney is worth his/her weight in gold! After all, I never like to give up and I certainly don't want an attorney representing my client to feel anything less.

Hearthstone ... Charlottes Hidden Secret

Hearthstone is a neighborhood that I would consider a nice secret in the Charlotte metro area. The neighborhood is surrounded with huge, mature trees and all homes sit on oversized lots...ranging from about .5 acres to 1.5 acres. Most of the homes were built in the mid 1980's and all offer unique features. It's understandable how the neighborhood was named as most homes have stone hearth fireplaces that give a rural feel to the interior. As well, hardwood floors and wood siding are a consistant feature. The neighborhood consists of about 80 homes and has one entrance in and one entrance out! It's not uncommon to see the families out playing in the afternoons and on weekends. Hearthstone is a warm community that has a social planning committee that schedule fun events throughout the year.

The neighborhood backs up to Coloniel Francis Beatty Park which is convenient for the active home owner. FBP has large soccer fields, softball field, large lake, playground, picnic areas and some killer bike trails! Fun for all ages.

Hearthstone falls into the highly sought after Providence High school district and is convenient to South Charlottes finest eateries and shopping, including the Promenade, South Park and Arboretum.

I'll be hosting an Open House from 1-3 pm this Saturday (3/12/11) for any one that cares to take a look at my new listing: 2935 Butter Churn Lane.

Charlotte Secret Agent

Well .... this is the beginning of my blogging experience! I'm ready to share my real estate experiences with other interested parties as well as give outsiders (and insiders!) the lowdown on Charlotte, North Carolina. Charlotte has been home to my family for 7 years now. My wife and I are happy to know that we will raise our boys (one is 7 and another is on the way!) to be "southern gentlemen".

I'm always open for suggestions on what others would like to know about Charlotte, but in the meantime, I'll share info about local eateries, shopping, entertainment, parks/recreation, etc. as I experience them (as well as drawing off past experiences). In reference to my real estate transactions, I will be sharing experiences on current transactions and past transactions, general info about specific neighborhoods, info about my current listing inventory and just about any other occurrences that appear to be blog worthy!

Ok .... until next time!