As of 12:01am ET this morning work on The Vue, a 51-story condo project in uptown Charlotte NC was halted because apparently the contractor hasn’t paid its bills. Whoops!
According to the Charlotte Observer today,
“At the worksite, at Fifth and Pine streets, workers streamed out of the tower at the shift’s end Monday, carrying an assortment of items, such as ladders, buckets and drills, which workers often leave overnight. Workers with four subcontractors, along with half a dozen Griffin employees, said they had been told that work may stop because of unpaid bills. Employees also removed R.J. Griffin signs from fences and used cranes to hoist portable toilets and other heavy equipment to the ground from The Vue’s upper floors.”
While it’s highly unlikely the work stoppage will last long simply because I seriously doubt the Charlotte city leaders want such a large real estate project just sitting unfinished, it definitely points to the fact that the regions real estate market isn’t completely out of the woods yet.
While home sales have picked up in the lower price brackets ($100-150K) things are still a little slow in the upper price ranges. That’s not to say house aren’t selling, it just means they’re not selling as quickly as they did prior to the current economic downturn.
Filed under Carolina Business News, Carolina Commercial Real Estate, Charlotte NC by 
If you’ve been sitting on the real estate fence waiting to see where the housing market heads, believe it or not, right now might just be the PERFECT time to buy a new Fort Mill SC home.
Here are 5 reasons why:
1. The governments $8,000 first time home buyers tax credit is set to expire on Dec. 1st. That means you’ve got to actually close on your new home. And because it typically takes at least 30 days to go from contract to close, you need to start taking action RIGHT NOW.
2. Believe it or not, there is some 100% financing programs still available. Now, these programs come with many more requirements and restrictions than similar programs that were available previously, but that doesn’t mean you can’t find them anymore. Just be sure to shop around with lenders as some may offer different programs than others.
3. Everything is on clearance. Home sellers know this is a buyers market because many homes are selling at or below the original purchase price. There are many short sales and foreclosures available in the Fort Mill SC area, which means you can now get twice the home for half the price. There really are some amazing deals available IF you have time on your side and a knowledgeable agent.
4. Interest rates may never be this low again. As the economy improves, interest rates will undoubtedly rise and if you don’t act soon you may miss the opportunity. Don’t be one that says “if I had only…”! The best thing to do is to find one of the many free mortgage calculators on the web and play with the numbers. You will find your mortgage monthly payment goes up much quicker with interest rates than if the house price drops a few thousand
5. Local builder incentives are growing. Because the inventory of homes available is growing, builders are willing to customize new homes for a fraction of what was available in the past. If you can’t find what you’re looking for in the inventory of pre-built home, look at local builders for the many build-to-suit options available.
If you’re looking to purchase a new home in the Fort Mill SC in spite of the current economy, this really is a great time to take action. These five reasons are just a few of the many why right now might be your best time to take action!
Filed under Carolina Real Estate, Fort Mill SC, Home Buyers, Interest Rates by
If you’re a fan of good barbeque and some good ol’ blues music then you’ll definitely want to check out the ‘Blues, Brews & BBQ’ festival that kicks off tomorrow in uptown Charlotte NC.
According to the Charlotte Observer’s event section:
Blues, Brews & BBQ is a competition and festival that features blues music, an array of beer samples, and some of the best barbecue anywhere. Interactive cooking demonstrations and contests are featured all day. This festival celebrates the best of the southern cuisine and southern music. Food, music, entertainment and more!
To get the complete story on this event be sure to check out the Blues, Brews & BBQ website!
Filed under Charlotte NC, Fun Stuff, Out and About in the Carolinas by
Given the turbulent housing market this past year or so has led to an obvious increase in the number of foreclosures across the country, and even here in our backyard in Fort Mill SC and Rock Hill SC. This means an increased inventory of homes available for purchase, which in turn means lower home prices for both those buying and selling real estate.
Well, while a foreclosure is the worst possible scenario for someone that has fallen behind on their mortgage payments and it’s something you want to avoid if all possible, there are other options. One of those options is something called a ‘short sale’.
As it relates to real estate, a short sale essentially means the lender has agreed to allow the home to be sold for LESS than what is actually owed. Now, not all homes qualify for a short sale simply because not all lenders will allow the home to be sold for less than what is owed on it.
If you’re in a situation where you feel like you’re about to lose your home, investigating the possibility of selling it via a short sale might be a good option, but as with everything in life you MUST do your own due diligence.
You certainly want to consult with your accountant and an attorney familiar with real estate short sales. You’ll find a great list of steps you could expect to have to take in order to sell your home via short sale right HERE.
On the buying side, purchasing a home via a short sale is much, much less certain a process than buying an average home listed for sale. You’d be wise to consult with a qualified real estate agent that has some experience working with real estate short sales.
If you have any questions about either selling your home via a short sale or purchasing a home via a short sale, I have experience in both so please don’t hesitate to CONTACT ME.
Filed under Buy Your Dream House, Home Buyers, Home Sellers, Sell Your Home by
Thinking about selling your Fort Mill SC or Rock Hill SC home? If so, it’s important to make sure your home appeals to the buyers that will be coming through your house.
Here’s a quick video that shares some simple home staging tips that can help you sell your home faster:
Filed under Decorating Ideas, Home Sellers by
