Real Estate & Local Charlotte NC Info

Charlotte NC Home Buyer Question: Can I Make an Offer on a Bank Owned Home Contingent on Selling My Current Home?

dianemcdermott — Thu, 26 Jan 2012 18:02:28 +0000

This is by far one of the most common questions from Charlotte NC home Buyers – can you use a contingency (on selling a current home) when making an offer on a bank owned house for sale in Charlotte?

The answer: No.

Using a contingency on selling (or closing the sale of) your current home is just not a match for bank owned OR short sale homes for sale in Charlotte NC.

The reason? Banks are NOT going to allow you an “out” or contingency that you have to sell your current house in order to follow through and close on their bank owned home for sale. Too much risk for them and all they care about is getting the bank owned house for sale SOLD – they’re not going to wait around and risk tying up that asset while you figure out if your current home is going to sell and close (because even if your current house is under contract already, it’s not sold till it’s settled, funded and recorded!)

Same thing with short sales listed for sale in Charlotte.

If you have a house you need to sell (and close on) before you can buy your next home….you have a couple of choices:

- Focus on the non-distressed Charlotte NC homes for sale (believe it or not there are plenty of those out there)

- Focus on getting your current home sold (and successfully closed) first and consider doing a short-term rental before buying your next home

If you absolutely are opposed to renting for even a short-term before buying your next home – then you DO need to be aware that bank owned and any kind of distressed Charlotte NC home for sale is simply NOT going to be a good fit for you as you consider options in your search for a next home.

There is of course a third option – if you qualify to buy the next home without having to sell your current home first. But you’d need to seriously go over that with your mortgage professional and weigh whether that’s a valid option for you. AND you still wouldn’t be able to add a contingency on selling a home before buying that bank owned home in Charlotte.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

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How to Re-Grow Green Onions

dianemcdermott — Wed, 25 Jan 2012 19:27:55 +0000

Ok, so it’s not technically “re”-growing green onions, more like allowing them to continue to grow but the next time you have some green onions – don’t just throw them away!

Take the root ends, place in a glass of water (change the water every couple days or so), leave on a windowsill and they will start to grow up. Before long you’ll have more green onions, and can cut off what you need.

I was skeptical when I first heard about this but when my husband brought home some green onions, I took the root ends (he gave me some weird looks as I did it), put them in water on the windowsill and sure enough – they started growing!!!

The picture is after about a week and a half and when I first placed those in water the top end was BELOW the glass. This really does work, so if you use green onions at all, consider saving and “re”-growing them next time!

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

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Beverly Woods Neighborhood in Charlotte NC, 2011 Home Sales Activity

dianemcdermott — Wed, 25 Jan 2012 19:06:04 +0000

There were 25 successfully closed home SALES in Charlotte NC’s Beverly Woods neighborhood for 2011. That’s EQUAL to the amount of sales activity from a year earlier.

The amount of neighborhood home sales stopped Dropping in 2010 and in 2011 the pace of sales activity held steady (but didn’t increase at all).

The average sales price for Beverly Woods homes was $270,070 - and that was nearly identical to 2009s and 2010s average neighborhood home sales price.

The past 3 years have had average home sales prices hovering just Under the 2006 average for Beverly Woods homes.

In a word, the 2011 home sales activity in Beverly Woods was….steady. The amount of home sales is still below 2002 through 2007 levels but the slowdown in activity stopped for the second straight year.

The Short-Term view on Beverly Woods average home sales prices – DOWN 19.8% from 2007 to 2011

The Long-Term view on average neighborhood home sales prices - UP 31.6% from 2002 to 2011 (that already includes the recent decline)

Available homes for sale in Beverly Woods are currently priced from the Low $200s to Mid $300s and there are a number of options for home buyers to consider.

For the most recent market update including activity by price range – Beverly Woods Neighborhood in Charlotte NC, Real Estate Market Activity January 2012

To view available homes for sale in nearby neighborhoods in the South Park area of Charlotte NC:

Barclay Downs Neighborhood Homes for Sale in Charlotte NC

Beverly Woods East Neighborhood Homes for Sale in Charlotte NC (located across Sharon Rd from Beverly Woods)

Cameron Wood Neighborhood Homes for Sale in Charlotte NC

Fairmeadows Neighborhood Homes for Sale in Charlotte NC

Governors Square Neighborhood Homes for Sale in Charlotte NC

Mountainbrook Neighborhood Homes for Sale in Charlotte NC

Or to enter your own home search criteria: Search Charlotte NC Area Homes for Sale

Beverly Woods is an established Charlotte NC neighborhood of single family homes in the heart of South Charlotte, minutes from South Park and convenient to Ballantyne, the South Blvd light rail line and Uptown Charlotte NC.

*Data based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC

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Cameron Wood Neighborhood in Charlotte NC, 2011 Home Sales Activity

dianemcdermott — Tue, 24 Jan 2012 19:08:31 +0000

There were 42 successfully closed home sales in Charlotte NC’s Cameron Wood neighborhood for 2011.

That’s UP from last year and the highest amount of neighborhood home sales since 2007.

The 10-year LOW for home sales activity in Cameron Wood happened in 2009 and for BOTH 2010 and 2011, the activity has rebounded off of that low.

The average sales price for Cameron Wood neighborhood homes sold in 2011 was $277,269.

After dipping into the $260s for 2009, the average neighborhood home sales price has leveled off in the $270s for BOTH 2010 and 2011 – that’s just under the average sales price in 2006.

The 10-year LOW for Cameron Wood neighborhood average prices? That happened in 2002. The average sales price in 2011 wasn’t even close to that Low.

The Short-Term View on Cameron Wood average home sales prices:
DOWN 9.2% from 2007 to 2011

The Long-Term View on average home sales prices:
UP 22.5% from 2002 to 2011 (that % already takes the recent decline into account)

The available real estate listings are currently priced from just Under $200k to the Upper $300s.

To view the current neighborhood real estate listings (link updated daily) - Homes for Sale in Charlotte NC’s Cameron Wood Neighborhood

For the early 2012 neighborhood market activity – Cameron Wood Neighborhood Real Estate Activity January 2012

To view available homes in nearby south Charlotte NC neighborhoods:

Beverly Woods Neighborhood Homes for Sale in Charlotte NC

Beverly Woods East Neighborhood Homes for Sale in Charlotte NC

Cameron Wood Neighborhood Homes for Sale in Charlotte NC

Fairmeadows Neighborhood Homes for Sale in Charlotte NC

Governors Square Neighborhood Homes for Sale in Charlotte NC

Huntingtowne Farms Neighborhood Homes for Sale in Charlotte NC

Mountainbrook Neighborhood Homes for Sale in Charlotte NC

Park Crossing Neighborhood Homes for Sale in Charlotte NC

Sturnbridge Neighborhood Homes for Sale in Charlotte NC

To enter your own home search criteria: Search Charlotte NC Area Homes for Sale

The Cameron Wood neighborhood in South Charlotte NC is an established neighborhood of single family homes, located between Park Rd and Carmel Rd. Homes were built from the 1980′s to early 2000′s and include Ranch, 1.5 story as well as 2 story homes. Cameron Wood also has a swim and racquet club membership option (membership fees apply) with pool, clubhouse and tennis courts.

*Data based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC

Search Charlotte NC Area Homes for Sale

Berkeley Neighborhood in Charlotte NC 2011 Home Sales Activity

dianemcdermott — Tue, 24 Jan 2012 17:00:32 +0000

The 19 successfully closed home sales in Charlotte NC’s Berkeley neighborhood for 2011 was an INcrease in activity from a year earlier – the second year in a row that neighborhood real estate sales were UP.

The 10-year LOW for Berkeley Home sales happened in 2009. Since then, home sales activity in the neighborhood has been increasing.

The 2011 average sales price for Berkeley homes was $401,123 – down slightly from a year ago.

From 2009 through 2011 the neighborhood’s average home sales prices have been consistently between the 2005 and 2006 average sales prices.

The Short-Term view on Berkeley average home sales prices:
DOWN 13.8% from 2008 to 2011

The Long-Term View on average neighborhood prices:
UP 23.7% from 2002 to 2011 (that % already includes the recent decline)

The available neighborhood homes for sale are ALL priced at the Upper $300s right now. To view the current real estate listings (link updated daily) - Berkeley Neighborhood Homes for Sale

For the early 2012 neighborhood activity update – Berkeley Neighborhood Real Estate Activity January 2012

To view homes for sale in nearby South Charlotte NC area neighborhoods:

Carrington Neighborhood Homes for Sale

Holly Hill Farms Neighborhood Homes for Sale

Hunters Valley Neighborhood Homes for Sale

Piper Glen Neighborhood Homes for Sale

Raintree Neighborhood Homes for Sale

Quail Acres Neighborhood Homes for Sale

Rosecliff Neighborhood Homes for Sale

OR to enter your own home search criteria: Search Charlotte NC Area Homes for Sale

The Berkeley Neighborhood in South Charlotte NC is located just off Providence Rd and Ballantyne Commons Parkway inside the 485 loop and includes homes ranging from around 2,500 square feet to more than 4,000 square feet. Built from the late 19080s through early 2000s the neighborhood offers an established community feel with convenience to Providence Rd area and Ballantyne amenities.

*Data and statistics based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

Search Charlotte NC Area Homes for Sale

Landen Meadows Neighborhood in Charlotte NC, 2011 Home Sales Activity

dianemcdermott — Tue, 24 Jan 2012 16:15:05 +0000

There were 13 successful home SALES in Charlotte NC’s Landen Meadows neighborhood for 2011.

That was UP slightly compared to a year ago and the first time since 2006 that neighborhood home sales activity increased at all.

After consistently falling from 2006 through 2010, the 2011 home sales in Landen Meadows marks the first STOP to that downward trend for the past 6 years.

The average sales price for Landen Meadows neighborhood homes in 2011 was $195,976, a decline from last year and the fourth annual decline in average home sales prices for the neighborhood.

The 2011 average sales price was just Under the average from 2006

The SHORT term view – Change from 2007 to 2011 in Charlotte NC’s Landen Meadows average home sales price: DOWN 18%

The LONG term view - Change from 2002 to 2011 in Charlotte NC’s Landen Meadows average home sales price: UP 17.3% (that includes the decline over the past few years)

The available Landen Meadows homes for sale are now priced from the $170s to the mid $200s (most are priced under $220k right now), whether any of those meet your needs only you can decide.

For the latest neighborhood market update – Landen Meadows Neighborhood in Charlotte NC, Real Estate Market January 2012

To view available homes in nearby Ballantyne area neighborhoods in Charlotte NC:

Blakeney Heath Neighborhood Homes for Sale in Charlotte NC

Mitchell Glen Neighborhood Homes for Sale in Charlotte NC

Raeburn Neighborhood Homes for Sale in Charlotte NC

Southampton Commons Neighborhood Homes for Sale in Charlotte NC

Southampton Neighborhood Homes for Sale in Charlotte NC

OR to enter your own home search criteria, visit Search Charlotte NC Area Homes for Sale

Landen Meadows is a neighborhood of single family homes built primarily in the 1990′s. Charlotte NC’s Landen Meadows neighborhood is located in the Ballantyne area of South Charlotte NC between Ardrey Kell Rd and Rea Rd, minutes from the Blakeney shopping center. The Landen Meadows neighborhood features a community pool, playground and tennis courts.

*Data based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC

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Kingswood Neighborhood in Charlotte NC, Real Estate Activity January 2012

dianemcdermott — Tue, 24 Jan 2012 15:34:13 +0000

The 4 available homes for sale in Charlotte NC’s Kingswood neighborhood are priced from $349,900 to $449,900.

To view the neighborhood real estate listings (link updated daily) -
Kingswood Neighborhood Homes for Sale

Recently SOLD activity is now equal to the amount of Available homes for sale as of January 2012 and the only change over the past month was the addition of 1 more Available neighborhood real estate listing

There is still NO Under Contract activity (indication of upcoming home sales)

The neighborhood real estate inventory is Balanced at a 6 month supply of homes for sale BUT….the lack of any Under Contract activity shifts conditions more in favor of Buyers.

Available Kingswood Homes for Sale are priced equally at the $300s and $400s right now.

The $300s have had the majority of Recent home Sales activity

To view homes for sale in nearby South Charlotte NC area neighborhoods:

Beverly Woods Neighborhood Homes for Sale

Beverly Woods East Neighborhood Homes for Sale

Carmel Country Club Neighborhood Homes for Sale

Carmel Hills Neighborhood Homes for Sale

Carmel Woods Neighborhood Homes for Sale

McAlpine Forest Neighborhood Homes for Sale

Mountainbrook Neighborhood Homes for Sale

Town and Country Neighborhood Homes for Sale

OR to enter your own home search criteria, NO registration required: Search Charlotte NC Area Homes for Sale

The Kingswood neighborhood in Charlotte NC is located along Carmel Rd in South Charlotte, minutes from South Park. The neighborhood was built mainly in the 1960′s and homes are situated on large lots along tree lined streets. Current school assignments are for Beverly Woods Elementary, Carmel Middle and South Meck High

*Data and statistics based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

Search Charlotte NC Area Homes for Sale

Montibello Neighborhood in Charlotte NC, Recent Home Sales Activity January 2012

dianemcdermott — Mon, 23 Jan 2012 19:03:23 +0000

The 6 successfully closed home SALES in Charlotte NC’s Montibello neighborhood over the past six months…

- had an Average Sales Price of $429,465 (range was $370,500 to $540,290)

- spent an Average of 126 Days on the Market (range was 43 days to 189 days)

- sold for an Average of 88.1% of the Original List Price, Average of 93% of the Final List Price

- Seller Paid Closing Cost Contributions of $3,000 to $9,495 were included in 3 of the 6 recent Montibello neighborhood home sales

The $300s and $400s have had the majority (5 out of 6) of all recent home Sales

Available Montibello Homes for Sale are priced from the $300s to Over $1 million right now

The currently available homes for sale have 3 to 6 bedrooms, 2.0 to 4.5 baths, around 2500 to more than 4,000 square feet of living space, 2 to 3 car garages and include Ranch, 1.5/2 story and tri-level home styles

To view the neighborhood real estate listings (link updated daily)- Montibello Neighborhood Homes for Sale

To view homes for sale in nearby South Charlotte NC area neighborhoods:

Beverly Woods Neighborhood Homes for Sale

Beverly Woods East Neighborhood Homes for Sale

Carmel Country Club Neighborhood Homes for Sale

Carmel Hills Neighborhood Homes for Sale

Carmel Woods Neighborhood Homes for Sale

McAlpine Forest Neighborhood Homes for Sale

Mountainbrook Neighborhood Homes for Sale

Town and Country Neighborhood Homes for Sale

OR to enter your own home search criteria, NO registration required: Search Charlotte NC Area Homes for Sale

The Montibello neighborhood in Charlotte NC is located along Carmel Rd near the intersection of Carmel and Quail Hollow Rds in the heart of South Charlotte. Convenient to both South Park and Ballantyne, this established community features mature trees and landscaping, winding streets and homes ranging in size from just over 2200 square feet to around 5,000 square feet.

*Data and statistics based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

Search Charlotte NC Area Homes for Sale

Montibello Neighborhood in Charlotte NC, Real Estate Activity January 2012

dianemcdermott — Mon, 23 Jan 2012 18:54:21 +0000

The 9 available homes for sale in Charlotte NC’s Montibello neighborhood are priced from $324,900 to $1.599 million.

To view the neighborhood real estate listings (link updated daily) -
Montibello Neighborhood Homes for Sale

The pace of recently SOLD activity dropped over the past month and Available homes for sale are now the largest piece of neighborhood real estate activity as of January 2012.

The neighborhood real estate inventory level is UP and Over balanced market conditions (favoring Buyers) at a 9 month supply of homes for sale - balanced conditions would be around a 6 month supply.

Over $600k has the highest amount of Available Montibello Homes for Sale right now and with 0 recent Sold activity at those price ranges, that’s where the level of inventory is highest right now.

The majority of Recent home Sales activity has been at the $300s and $400s

For the home sales report – Montibello Neighborhood Recent Home Sales Activity January 2012

All of the Under Contract activity is at the $500s

To view homes for sale in nearby South Charlotte NC area neighborhoods:

Beverly Woods Neighborhood Homes for Sale

Beverly Woods East Neighborhood Homes for Sale

Carmel Country Club Neighborhood Homes for Sale

Carmel Hills Neighborhood Homes for Sale

Carmel Woods Neighborhood Homes for Sale

McAlpine Forest Neighborhood Homes for Sale

Mountainbrook Neighborhood Homes for Sale

Town and Country Neighborhood Homes for Sale

OR to enter your own home search criteria, NO registration required: Search Charlotte NC Area Homes for Sale

*Data and statistics based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

Search Charlotte NC Area Homes for Sale

Wessex Square Neighborhood in Charlotte NC, Recent Home Sales Activity January 2012

dianemcdermott — Mon, 23 Jan 2012 15:29:11 +0000

The 7 successfully CLOSED home sales in Charlotte NC’s Wessex Square neighborhood over the past six months…

- had an Average Sales Price of $228,785 (range was $205,000 to $259,000)

- spent an Average of 197 Days on the Market (range was 76 days to 453 days)

- sold for an Average of 90.4% of the Original List Price, Average of 95% of the Final List Price

- Seller Paid Closing Cost Contributions of $2,250 to $5,000 were included in 4 of the 7 recent Wessex Square neighborhood home sales

The Low $200s have had the majority (all but 1) of recent home Sales

Available Wessex Square Neighborhood Homes for Sale are ALL priced in the Low $200s right now

The 1 currently available home for sale has 4 bedrooms, 2.5 baths, around 2,400 square feet of living space, no garage and is a 2 story home style

To view the neighborhood real estate listings (link updated daily)- Wessex Square Neighborhood Real Estate Listings

To view homes for sale in nearby south Charlotte NC area neighborhoods:

Candlewyck Neighborhood Homes for Sale

Carmel Station Neighborhood Homes for Sale

Old Salem Neighborhood Homes for Sale

Olde Providence Neighborhood Homes for Sale

Sturnbridge Neighborhood Homes for Sale

Woodbridge Neighborhood Homes for Sale

OR to enter your own home search criteria, NO registration required: Search Charlotte NC Area Homes for Sale

The Wessex Square neighborhood is centrally located in south Charlotte NC, inside Hwy 51 between South Park and the Arboretum. Built in the 1980s, the neighborhood has an established feel and convenient location. Homes include ranch, 1.5 story and 2 story floor plans

*Data and statistics based on information from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

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The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in south Charlotte NC

Search Charlotte NC Area Homes for Sale