- Beverly Woods Market Report 3.7.08, Charlotte NC Homes

Below is the current market activity as of 3.7.08 for the Beverly Woods neighborhood of single family homes, which is located minutes from South Park, between Sharon Rd and Park South Dr.

Beverly Woods Market Report 3.7.08

- Madison Park Market Report 3.7.08, Charlotte NC Homes

Feb. 9, 2008 - Charlotte NC Homes - Beverly Crest Single Family Market Report 2.9.08

- Charlotte NC Real Estate - Beverly Crest Single Family Closed Listings

 The above chart illustrates the closed single family listings in the Beverly Crest neighborhood from January 2007-January 2008. There was quite a spike in activity during the spring with a high of 10 closings in June!

 Some additional stats on the Beverly Crest neighborhood market:
Average Sales Price:$346,206
Average Days on Market: 51
Average Sales Price Compared to List Price: 98%

 Homes in Beverly Crest have gone under contract on average in less than 2 months and sellers have realized sales prices very close to the list price. 

 Closed sale prices ranged from $224,000 to $455,000 during the January 2007-January 2008 time period. The average square footage for homes sold was 2469.
 
 These statistics are a general overview of the Beverly Crest neighborhood activity. Any market analysis would require in depth application of the market activity and consideration of a given property's features. For any questions or detailed information, we're always just an e-mail or phone call away.

Diane McDermott
Real Estate Broker, REALTOR®
www.e2realestateteam.com
Diane@southcharlottespecialist.com
e2 Real Estate Team, Banks Calkins Real Estate Inc.
"Exceeding Expectations"
*Statistics based on data from Carolina Multiple Listing Service Inc. Information deemed reliable but not guaranteed.

 

- January 2008 Charlotte NC Real Estate - Condos, Townhomes

As an additional breakdown, Uptown, Southeast,South and Southwest Charlotte/Mecklenburg stats are below:

Uptown, Southeast, South, Southwest Charlotte/Mecklenburg Condo/Townhome Activity January 2008, CMLS Areas 4,5,6,7 and 99

New Listings	466
Under Contract Listings	188
Sold Listings	115
Average Sales Price	$213,318
Average Percent of Sales Price/List Price	98%
Average Days on Market	70

For more information or a more detailed analysis of a specific complex, we're just an e-mail or call away!

Diane McDermott
Real Estate Broker, REALTOR®
www.e2realestateteam.com
e2 Real Estate Team, Banks Calkins Real Estate Inc.
"Exceeding Expectations"
*Statistics based on data from Carolina Multiple Listing Service Inc, as of 2.5.08. Information deemed reliable but not guaranteed.

- January 2008 Charlotte NC Real Estate Snapshot

Since this blog is primarily South Charlotte focused, lets compare how South Charlotte's January stats look:

Diane McDermott
Real Estate Broker, REALTOR®
www.e2realestateteam.com
e2 Real Estate Team, Banks Calkins Real Estate Inc.
"Exceeding Expectations"
*Statistics based on data from Carolina Multiple Listing Service Inc, as of 2.4.08. Information deemed reliable but not guaranteed.

- South Charlotte New Dining Option

- Those Pesky Credit Card Offers

- Arboretum Old Navy Closing

 The Old Navy at the Arboretum Shopping Center will be closing later this month. Apparently the store is closing since there's a new store in Ballantyne.  Just my opinion but the Arboretum location is closer to where I live so I'll miss the convenience!
 There's a very brief mention of it in the Observer at: http://www.charlotte.com/breaking_news/story/447510.html
 

Diane McDermott
Realtor®, Broker
www.e2realestateteam.com
e2 Real Estate Team, Banks Calkins R.E. Inc.
"Exceeding Expectations"

- Finding the house to match the financing

- The Importance of Smell

 Smell is one of the most critical aspects a seller should consider when placing their home on the market. Buyers will notice it immediately and it will make a major impact on their impressions of the home, for better or worse.
 The house should smell clean and fresh. Use air fresheners, reed diffusers, scented oil, whatever you find that spreads the scent without being overpowering....and make sure there aren't competing scents! If you have citrus for the kitchen, vanilla in the great room, a flowery scent in the bedroom, you may just give buyers a headache after they tour the house. Keep it simple and as neutral as possible.
 If you have pets, make sure any pet odor is neutralized, even pet lovers don't want to smell your dog or the litterbox from your cat.
 Food odors are another big offender, no one cares what you had for dinner last night but if the smell has lingered it will distract buyers from seeing themselves in the home. I'm not suggesting that you avoid making dinner, but just make sure there isn't any lingering evidence of your culinary endeavor.
 Do NOT smoke in the house, that is one of the most offensive odors to buyers, it can make some buyers turn right around and walk out without ever looking at the house! If you're a smoker, take it outside and don't leave evidence of it lying around, no buyer wants to look at your ashtray on the back patio table!
 Since it's your home, it may be difficult for you to objectively evaluate how the house smells. Have a friend, neighbor or your agent walk through the home and give you their honest opinion, an objective nose is best, since that's what buyers will be bringing with them.

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.
www.e2realestateteam.com
"Exceeding Expectations"

- What's Your House Worth?

 What is market value and who sets it? Market value is the current value of a given home based on recent similar home sales close to the subject home. Market value does NOT equal tax value.
 Market value is a range of value that compares recent sales to a given house. It is not set by sellers, real estate agents, or appraisers. Buyers set market value by closed sales that show what buyers are willing to pay for certain features/layout/amenities/style/location.
 A thorough market analysis takes more than the hard numbers into account, looking at the more emotional side and knowing what buyers will and will not pay more for. What your house is worth is subject to change as buyers prove how much or little they value a given neighborhood, style, features, even lot location. Realtors® are experts at evaluating this - they do it every day and can look at your home objectively, the same way buyers will.
 Why is this important? If you have plans to sell in a month, a year or even longer it's important to know what buyers in your area are looking for to maximize the return on any improvement investment you choose to make. If granite is the standard in your area, buyers will expect that and certainly won't pay top dollar for your new laminate counters. And one other note: area can be as specific as a given neighborhood, it's not just about a general part of town.

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.
www.e2realestateteam.com

- Is it January Outside?

 It felt more like spring outside today than early January here in Charlotte. After lows in the teens last week this is quite a change. While highs around 70 are not the norm for this time of year, Charlotte does usually moderate pretty quickly so even when it gets cold it becomes more bearable soon. It's nice to have a taste of winter cold but know that it won't last very long. Definitely one of the things I really love about this area.
 
Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.
www.e2realestateteam.com

- December 2007 Real Estate Snapshot

 Want to know how Charlotte's real estate market did in December? While national and local averages usually take a wide area into their numbers, it's important to look at local numbers too.
 For Charlotte and Mecklenburg County single family homes, the average sales price was 96.5% of list price and average days on market countywide was 73 days. South Charlotte continues to sell more quickly (average 58 days on market) and Northwest Charlotte showed the longest average days on market at 85.
 Countywide, condos/townhomes had an average sales price 97.77% of list price and average days on market of 61. Uptown Charlotte did skew that number since Uptown's average days on market was only 14 days!!! The West Charlotte area had the longest average days on market with 82. 
 So overall, during one of the traditionally slower months of the year, Charlotte real estate continues to sell. There are buyers out there who are ready, willing and able to buy.  

Diane McDermott
Realtor®, Broker
e2 Real Estate Team
Banks Calkins R. E. Inc.

-Statistics based on information from the Carolina Multiple LIsting Services Inc. for the period: December 2007, MLS Areas 1-9

- Pet Adoptions at South Park Tomorrow

 Tomorrow's the first Saturday of January which means Animal Control will be holding a pet adoption event at South Park mall. 
 Animal Control staff and volunteers will have pets available for adoption at Center Court in the mall. The adoption event runs from 10am-4pm tomorrow, January 5th.

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.

- Last Few Days of "Body Worlds" in Charlotte

 If you haven't checked out "Body Worlds" at Discovery Place yet, there's only a few days remaining. Th exhibit will end its Charlotte engagement on January 6th. The exhibit may not appeal to everyone but it's certainly a really unique exhibit of human anatomy.
 To learn more about specific hours, ticket prices, and an overview of "Body Worlds", check out http://www.discoveryplace.org/home/discovery_place-home.php

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.

- What's in Store for 2008

 2007 brought a return to more traditional lending standards and a "wait and see" attitude from many buyers. So what does this mean for 2008?
 -Pre-approval (actually starting the loan application process, not just a verbal opinion from a lender) for buyers will be critical in separating the "could buy" from "can and are ready to buy"
 -Mortgage funding hasn't dried up, but now more than ever buyers need to have financing lined up before they start seriously house hunting. Credit scores, income, assets, down payments are more crucial now than ever.
 -Contingencies will continue to be highly unappealing to sellers/builders especially when the buyer has a house in a different state to sell.
 -"Move in ready" is key, buyers want a home not a project - and yes that includes paint!
 -Here in Charlotte, prices are on the rise despite a longer average days on market, in 2008 we're likely to continue seeing steady and stable price appreciation.
 -Job growth should continue to be strong in Charlotte, and that's a huge asset to the area. Since 2002 Charlotte has added over 10,000 jobs per year.
 -Markets in other areas have an impact on our market, so if other area show signs of picking up Charlotte will benefit by having more relocating buyers ready to purchase here.
 -Sellers need to know their competition and what features appeal to the widest range of buyers.
 -Updates, upgrades, and energy efficiency are high on buyers priority list, kitchens and baths are key. Even if the house is less than 10 years old, appliances, fixtures and counters can still look outdated very quickly. Buyers want new and improved not "broken in" or "original".
 Overall, we've fared much better than most areas of the country and that shows no sign of changing. What has changed is the need for both buyers and sellers to get back to basics and make sure they have as much knowledge as possible to stand out from the crowd. Opportunities still abound for buyers and sellers, the key difference in 2008 will likely involve more preparation and in depth research BEFORE starting the buying or selling process.

Happy New Year!!!
Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.

- New Year's Eve is fast approaching

 Well, it's already Saturday afternoon and just a couple of days from New Year's Eve. If you're looking for somewhere to celebrate, there's a pretty wide range of events going on around town from Uptown to South Park to Ballantyne. 
 I make no claim to be an expert on New Year's events - yes, my husband and I will probably be staying home so we're in the "boring" category I suppose. But if you're looking for something to do there's a pretty cool list of events/destinations at http://www.charlotte.com/453/story/421763.html
 There's also a link to parties, dining options, entertainment events and family friendly celebrations from that same web page on charlotte.com. A lot of the events do require tickets or advance reservations so just be sure to check on availability.
 However you choose to celebrate the arrival of 2008 (still looks weird to see that in print), have a Happy and Safe New Year's!!!

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.

- Foreclosures Are Not Limited by Price or Location

 There seems to be a perception that foreclosures are only a problem in certain price ranges or locations. Some media outlets apparently like to focus on those stories, but the truth is that foreclosures can happen in ANY neighborhood.
 Borrowers in over their heads, struggling to keep up and falling behind on their debt is not limited to a few neighborhoods. And it isn't just mortgage debt that can be a problem - credit card debt is another major expense: easy to use, easy to fall behind on as the debt increases.
  Are there higher concentrations of foreclosures in some areas? Sure. Are foreclosures only an issue for homes valued at the low end of the housing market? Absolutely not. It can happen in any neighborhood, in any price range.

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.

- The Principle of Substitution

 The principle is pretty simple: Why pay more for one house when there's a similar house priced less? Buyers are experts at substitution, although they may not realize they're using this principle. Buyers thought process when searching for a home involves narrowing down their options to a few that meet their needs. If two similar homes (area, features, etc) are on their list they tend to lean toward the options that offer more for the money.
 Why do you need to know this? As a buyer it's important to remember that there is probably more than one home that would meet your needs, and you then have the luxury of really evaluating which options are the best value to you as a buyer.
 As a seller, it's important to know how buyers think and to remember that buyers are probably looking at your competition in addition to your home. Sure you can "test the market" but I like to call that "helping your neighbor sell their house". Knowing your competition and what else is on the market comparable to your home is a priceless tool for a seller. If you don't have that information, buyers may very well substitute another house for yours if they feel it's a better value.
 Buyer or Seller, ask your Realtor® to help you evaluate the competition so you can make an informed decision....knowledge is power!

Diane McDermott
Realtor®, Broker
e2 Real Estate Team, Banks Calkins R.E. Inc.