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Gallery Crawl

by Buddy Frey

 

Charlotte's Historic Arts District

NoDa (North Davidson) is now the home to the City's best collection of galleries and performance venues; some of the funkiest full service restaurants including authentic Cajun cooking, Southwest cuisine, a Creative pizza eatery and more.

Check out Gallery Crawl twice a month to experience NoDa's unique street scene. Every 1st & 3rd Fridays throughout the year. From 6pm to 9:30pm. Or if you cannot make it to the Gallery Crawl please visit NoDa during regular business hours. Most Businesses open 7 days a week.

There are also several investment opportunities for Charlotte Real Estate.  This area became one of the hot spots a couple of years ago and has continued to outperform much of the Charlotte Homes for Sale market.  Please let me know if you would like a list of homes for sale in the NoDa community.  You may contact me by email at:  bfrey@buddyfrey.com

For more info visit: 
www.noda.org    See ya there!

 

It's A Good Life,
Buddy
 

 

 

 

Discovery Place

by Buddy Frey

 

There are several great things to do with the family here in the Queen City.  One must do is visiting the Discovery Place.  Open since 1981, Discovery Place is an interactive museum full of science and nature exibits.  

Discovery Place also features Carolina's largest movie screen (3 stories high and 80 ft wide).  The "IMAX Dome" has several different shows at any give time and just recently began running Disney's Shipwreck!

  http://www.discoveryplace.org/home/discovery_place-home.php

Have fun exploring DP and as and as always...have a great week.  

It's A Good Life,
Buddy

Now for your Morning Coffee!

Summer Pops 2009

by Buddy Frey

 

 

The Charlotte Symphony will perform free outdoor concerts this summer, 5 at South Park Mall and 6 additional concerts throughout the region.  The series kicked off last weekend downtown and, at Village Park in Kannapolis.  For more info go to www.charlottesymphony.org  

It's A Good Life,
Buddy

Home Prices Inch Up A Bit In March

by Buddy Frey

Considering our unemployment situation here in the Charlotte Region, it is surprising...pleasantly surprising, to see a modest gain in housing prices. 

Of late, the area's deep housing decline has shown signs of slowing.  And while overall sale's volume is still way off, we are actually seeing signs of the decrease slowing.  March's little price hike of 0.3% marks the first housing improvement in a while. 

Nationally though, prices are still down significantly compared to 2008.  "The S&P/Chase Shiller Home Price Index (Top 20 Markets) shows Charlotte remained in 5th place in March, one of a handful of urban areas with losses less than 10% (-9.3%)."  Denver was the best of the bunch at -5.5% from March of 2008 and Phoenix ranked last at -36.0%

Persaonally, I am very optimistic as I feel at least the pulse is back.  Most of Realtors I speak to echo the same thing that the phones are beginning to ring again and sales are picking up...big improvement over even 45 days ago.  Stay cautious though and price your home competitively...we're not out of the woods yet.

If you would like a comple list of the YTY top 20 markets, please shoot me an email and I will be happy to forward!

Buddy

My Refi - What a Nightmare

by Buddy Frey

So back in January of this year my wife and I decided to try and refinance.  I had 2 MTG brokers watching rates and I was waiting for a 30 year, with zero points at 4.5%...mid month on a Friday morning I got a call from BB & T that the rate was there and did I want to lock.  Of course I said, LOCK IT...we were very excited!

Application made and fully documented, I checked in mid February to see how the loan was moving along.  I was told slowly but not to worry, they will get to it as soon as humanly possible and that they were just swamped and under manned.  OK

Now comes early March nearly 2 months later...I called to get an update.  I was told that the appraisal was finally ordered and that I would be contacted when that got back.  Appraisal comes back fine (better than expected) but now they tell me the guidelines have changed because I have a job related to the housing industry and they may not make the loan after all.  Loan officer tells me they want to see 2008 tax returns.  Not great since very few people I know in this industry actually made more in '08 than '07 

Scramble to get tax returns done and send those in.  Mid May now and I finally get an approval but now they won't allow an equity line behind it.  WOW...here's the dilemma:  do I do the refi and basically lose the equity line or do I sit tight with the mortgage that I have and keep the equity line in tact (prime -1/2).  Really don't use it but these days who knows?  May come in handy...

It's been a long frustrating road for us.  I feel like been dragged through the mud and the muck.  It's clear for sure that BB & T was at fault for this whole mess.  In the end though, we went through with the refi because the smart move was obtain the lower mortgage rate and increase our payment contribution towards principle.

I write about this only because many of the stories you hear out there are real (and I could go on about my ordeal in more detail) but the point is, banks just are not lending like they used to.  New and mostly stricter guidelines is making it tough if not impossible for a lot of people.  I just hope things loosen up soon for every one's sake.

Buddy 

 

Back to Work!

by Buddy Frey

Well, the Holidays are over...the Carolina Panther laid an egg last Saturday so I guess it's time to get back to things that are really important-like work and GOLF.  Although it is a bit cold to play golf this week (18 degrees today), we often get to knock it around here in the Charlotte area during the winter months.  Temps in the mid 60's is pretty common.

Speaking of golf, if you're planning on visiting friends or family or just heading in to the area, for sure bring your clubs.  We have several championship courses to choose from and most have public access.  Many of the courses are right within their own community or subdivision.  You can actually visit the "Links" section on my web-site to get information on the different courses available.

And while you're here golfing enjoying the beautiful Carolina blue skies and inviting weather, why not check out the Charlotte NC real estate scene as well.  It's the perfect time to stop by and see what's available.  We have plenty of golf locations from Lake Norman to Ballantyne to Ft. Mill, SC and more. So give us a call...we would be happy show you around  We look forward to hearing from you! 

Is The Media Getting Bullish On Real Estate?

by Buddy Frey

The New York Times ran an article recently (also featured on Yahoo! today), entitled: "Maybe It's Time to Buy That First House".  The article covers low interest rates, home price declines, foreclosure (REO) inventory, and a number of other factors, as positive considerations for first time home buyers.  They urge them to keep in mind the current real estate environment and suggest that perhaps now was a good time to start turning back toward real estate as a personal investment and a place to live.  Rather than trying to time the bottom that is perhaps approaching, no time is better than the present.

Obviously, no one knows for certain what the future holds, and this is a consideration that depends a lot on local market conditions. But, it sure is nice to see something in the headlines other than how bad real estate conditions are.

In Charlotte and Concord, I know that the slide has slowed and a definitive bottom may be just around the corner.  But, as I have talked about in the past, with interest rates and prices down to levels not seen in some time, and the downside greatly reduced, the opportunities out there right now in the Charlotte real estate market are definitely worth taking a look at.  This is true for 1st time home buyers, investors and hey, why not mom and dad a property for your special college kid?  Either way, you get a tax write off at worst...and or asset apprcecation at best. 

Positive coverage of real estate -- provided that it is realistic and provided by those with knowledge of local real estate market conditions -- could well spark some renewed interest going into early spring.  Those who are looking NOW in and around the Charlotte area, may be looking at the best prices of the year.

Buddy

Displaying blog entries 1-7 of 7

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