| Scott Browder report for Myers Park neighborhood, Charlotte, NC Average Price Per Square Foot Rolling 12 Months |
Based on data available as of November 29, 2011
Posts Tagged ‘Allen Tate’
30 Nov
Average Price Per Square Foot in Myers Park
26 Apr
Great March Proves Recovery is Real!
When you read the national housing reports talking about Q1 2011, you need more information to figure out the “rest of the story.”
Let me try, from my perspective, to help you. First and foremost, you must understand that the report for the month or quarter might be speaking to numerous categories. For example, sales, pending sales and solds – or even a category like new homes vs. resale – might be represented in a single report.
The data indicates that sales of existing homes fell 9.6 percent in February, the lowest level in 9 years. To understand why, you need to remember what happened last year in Q1 and Q2. We had a tax credit incentive that “borrowed” sales from the second half of the year, sending us into 2011 with a very small pipeline. Additionally, new home sales continue to drag, due to the availability of lot-ready opportunities and lender restraints on speculation building at this time.
Now … for the rest of the story. Sales in March in the Carolinas – without a tax incentive – were very strong. In fact, at Allen Tate, we rivaled last year’s numbers without the incentive. This indicates that the recovery is real and this is what we need… gradual and steady.
Yes, lending standards remain very tight and we are overcompensating for the Ills of the past, where lending standards were much too loose. The rental inventory is full of folks getting their credit in order so they can buy. Clients who have credit are listening to today’s mantra of selling low in order to buy low, instead of what their neighbors did just a few years ago – selling high and buying high, which is all relative. Everyone is realizing that there will still be downward pressure on pricing in 2011, but waiting is not a wise decision, with interest rates pushing.
The first half numbers of 2011 may not rival last year, but the real story will be told at year-end. Sales and closings will prove that the “bottom” (according to me) was October 2010. Interest rates, while still historically low, are up considerably from last April. Smart buyers will understand that waiting for another price concession will simply not make up for the difference in higher interest rates.
Rental vacancy rates went from 10.7 to 9.4 percent in the last year, so competition for the opportunities is out there. With lower home prices, the first-time home buyer today is KING. It is “time to get off the fence” for sure! ATC President
25 Apr
In depth Interview with Anne Marie Howard April 2011 Current Market Trends
Check out the recent market trends and what the MLS members are saying about the current market.
http://charlotte.news14.com/content/639748/in-depth–anne-marie-howard
21 Mar
Myers Park Condo Just Listed ~ The Carlton
Updated Condo In Myers Park! New Paint, New Closet, New Microwave, Water Heater, & Heat Pump. Walking Distance To Myers Park Shopping Center And Mp Library. Great Views Of Charlotte For A Great Price! Near Providence Road and Sharon Road. (Please see photos by clicking link below to my website)
Property Type(s): Condo / townhouse $295,000
| Last Updated | 3/18/2011 | Tract | The Carlton |
|---|---|---|---|
| Year Built | 1974 | Community | Myers Park |
| Garage Spaces | n/a | County | Mecklenburg |
| Total Parking | 2 |  Walk Score ® |
82  |
Schools
Eastover
Alexander Graham
Myers Park HIgh School
Additional Details
| Assoc. Fee | $1205 | Assoc. Fee Paid | QUART |
|---|---|---|---|
| List Status | Active | New Construction | N |
| Sq Ft Total Range | 1300 – 1600 |
Features
| Driveway | Concrete |
|---|---|
| Equipment | Cable Prewire, Cooktop Electric, Dishwasher, Disposal, Double Oven |
| Exterior | Porch, Terrace |
| Floors | Ceramic Tile |
| HVAC | Central Air, Heat Pump – AC, Heat Pump – Heat |
| Interior | Elevator, Handicap Access, Second Living Quarters, Storage Unit |
| Laundry Location | Closet |
| Parking | 1 Car Carport, 1 Parking Space |
| Prop Sub Type | High-Rise |
| Room Basement | None |
| Room Lower | None |
| Room Main | Bedroom 2, Breakfast, Dining Rm, Foyer, Kitchen, Living Rm, Master BR |
| Room Upper | None |
| Siding | Brick Veneer Full |
| Water | City Sewer, City Water |
| Water Heater | Electric |
Listing provided by Scott Browder and the Allen Tate Company
22 Feb
How Market Conditions Affect Your Offer Price
A hot market is a “seller’s market.” During a seller’s market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyer’s want to get a “deal” on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.
A slow market is a “buyer’s market. During a buyer’s market properties may languish on the market for some time and offers may be few and far between. Prices may even decline temporarily. Such a market would allow you to be more flexible in offering a lower price for the home. Even if your offered price is too low, the seller is likely to make some sort of counter-offer and you can begin negotiations in earnest.
More often than not, the market is simply “steady,” or in transition. When a market is steady, no real rules apply on whether you should make an offer on the high end of your range or the low end. You could find yourself in a situation with multiple offers on your desired house, or where no one has made an offer in weeks.
Transition markets are more difficult to define. If the economy slows unexpectedly, as it did in the early nineties, people who buy on the high end of a seller’s market (like the late eighties) could find their home loses value for several years. So far, no one has proven reliable in predicting when markets change or how good or bad the real estate market will become.
15 Feb
How Property Condition Affects Your Offer
Since you have toured the property you are interested in, you should know how it compares to the general neighborhood. All you have to do is put the home in one of three categories – average, above average, or below average.
When evaluating a home’s condition, there are a number of things you should consider. Structural condition is most important – items such as walls, ceilings, floors, doors and windows. Then paint, carpets, and floor coverings. Pay special attention to bathrooms and bedrooms and whether the plumbing and electricity work efficiently. Look at the fixtures, such as light switches, doorknobs, and drawer handles. The front and back yards should be in reasonably good shape.
The missing ingredient will be information on the condition of the homes from your comparable sales list. Provided you chose the right agent to represent you, they will have actually visited most of those homes and be able to provide key insights.
19 Jan
Forced Savings and Home Ownership
Some people are just lousy at saving money, and a house is an automatic savings account. You accumulate savings in two ways. Every month, a portion of your payment goes toward the principal. Admittedly, in the early years of the mortgage, this is not much. Over time, however, it accelerates.
Second, your home appreciates. Average appreciation on a home is approximately five percent, though it will vary from year to year, and in some years may even depreciate.. Over time, history has shown that owning a home is one of the very best financial investments.
