What’s ahead for the real estate market?

26 Aug

Tablet on a desk - Real EstateModerate appreciation for the real estate market in 2015 was predicted by most professionals and economists. In many markets, we’re a bit ahead. I see overall home prices being up about 8 percent vs. the predicted 5 percent. This is due to builders still jogging and not sprinting, and existing home inventories still lagging.

Too many folks are fighting over too few properties. The two largest generations – the Baby Boomers and the Millennials – are competing for the same homes. Historically, the 50+ Boomer generation wanted to downsize and move to a community where others the same age were settling in. Today’s Baby Boomers want convenience and they want to live in a community with diverse age groups.

With unemployment around 5.5 percent and the stock market averaging 17,500-18,300, the confidence buyers need to make the next move is there. Finding what you want is the tough side of the transaction today. Buyers and sellers do not want to do the “fix-up” work, which means that homes that are not decluttered and lacking current amenities will be passed up.

During the past 12 months nationally, we put 5.3 million sales of existing homes on the books, a rather modest performance compared to 7.2 million in 2005.  For new construction, it was 600,000 in the past year versus 1.3 million in 2005. No proof of the market going crazy here. If you look at housing starts to understand the trends, the comparison is just as graphic: 1.1 million starts for this recent period versus 2.1 million a decade ago (at a time when the US population was actually 10 percent smaller).

Today’s economy is good but still sluggish. Inflation is not yet a factor. A strong dollar and low energy costs are cooling. The Feds will feel the pinch to raise interest rates a bit this fall.

The housing market today can best be described as healthy and steady. If a move is in the cards, I would suggest you play sooner than later. Waiting in this type of environment is rarely a good move. The cost of NOT buying is more costly now than ever.

Pat Riley

Pat Riley
President and Chief Operating Officer, Allen Tate Company

Get an Insider’s Look with Community Resource Guides

24 Aug

iStock_000012174452_SmallWhen you’re moving within a region, you’re usually familiar with local amenities. But when a move takes you to a new area, you want to know you’ve found the right community, as well as the perfect home.

Allen Tate, the Carolinas’ #1 real estate company, understands what home buyers want and need – and when they need it. So we’ve added local community information to each of our Property Details pages on allentate.com.

When you view a home on allentate.com, you’ll find a link to our Around the Community guide in the right column of the Property Details page. This link takes you to information about “Living in” the specific local area or community where the property is located.

Here you’ll find detailed answers to questions like these:

  • What are the local attractions in Concord? There’s Charlotte Motor Speedway, Concord Mills and the Carolina Renaissance Festival.
  • What’s the economy like in Ballantyne? More than 60 percent of the people who live in this area earn $75,000 or more, and unemployment, at 5.3 percent, is lower than the national average.
  • Is Elon a safe community? Elon enjoys an extremely low crime rate. There have been no homicides in more than 10 years.
  • What is Greenville, SC known for? It’s been lauded in recent press as one of the “Top 100 Best Places to Live, Best Places to Retire and Best Cities for Jobs.”
  • How did Rock Hill get its name? When the Charlotte and South Carolina Railroad Company was building a line between Charlotte and Columbia, there was a huge hill of rocks in the way. The mound was moved, and a depot was built on that site. The town’s name became official in 1852.
  • Where’s a great place to eat in Raleigh? There are many great options, but we suggest the Second Empire for fine dining downtown, the Angus Barn for steak, the Pit for authentic NC barbeque and the Irregardless Café for vegetarian fare.

In addition, you’ll find easy-to-read graphics that provide a snapshot of median home price, property tax rate, median household income and unemployment for the local area.

Around the Community guides are available online for more than 100 communities throughout the Allen Tate footprint in North and South Carolina.

Check out the Around the Community guides to help narrow your home search. And be sure to ask your Allen Tate Realtor for more great information about your new community.

phyllis_brookshire2
Phyllis Brookshire
President, Allen Tate Realtors®

Why we partner with the Panthers

21 Aug

As the Carolinas’ #1 real estate company, we are often approached to support great organizations, causes and events across the footprint.

TateRock_Crpd_smWhile we are honored to be asked, it would be impossible for us to allocate resources to everyone. To that end, we focus our giving in the areas we believe make the biggest impact on quality of life in our local communities. Those areas – under Tate Cares – include public education, United Way and arts and cultural organizations.

So why does Allen Tate Companies choose to partner with the Carolina Panthers?

In 2007, when we celebrated our 50th anniversary, we turned to the Panthers for an innovative way to share with clients and fans. We began our “Crossing the 50” promotion, which recognized Allen Tate each time the Panthers crossed the 50-year line. We also gave away $50,000 – $10,000 each to five individuals who had visited an Allen Tate open house – and recognized those folks at a Panthers game.

It was a tremendously successful promotion, and our relationship with the Panthers was born. Nine years later – and many highs and lows for both real estate and football – we’re still together. Kind of like old friends that share the same values and always seem to have something in common.

Here’s why we love the Panthers:

The Panthers have changed the fabric of the community. The Charlotte region is a player on the national stage when it comes to economic development. The presence of professional sports teams is huge to companies looking to relocate or expand. We’re proud that the Panthers are here. They have made our region better, and in turn, helped our business grow.

The Panthers believe in giving back. As I mentioned, a major component of Tate Cares is public education. The Panthers promote the personal growth of students and enrich their academic experiences through Classroom Central, reading programs, character recognition and math competitions. And that doesn’t begin to touch the other charitable contributions, foundations and causes that the team, as well as individual players and coaches, proudly support. They make a huge difference.

The Panthers are a great brand. You may have heard the expression “You are judged by the company you keep.” The Panthers are recognized, respected and revered on – and off – the playing field. They work hard and they play fair. We’re proud to display the Allen Tate logo in lockup with the Carolina Panthers. We’re proud to sponsor events with the Panthers like Prowl the Den (look for details in late September). We’re honored to be in the company of such fine folks.

These are just a few of the reasons we partner with the Panthers. We both cover the same footprint; we’re two great home teams in the Carolinas. And yes, we really like football on Sundays.

It’s been a great run. We can’t wait to see how our relationship will grow from here.

Pat Riley

Pat Riley
President and Chief Operating Officer, Allen Tate Company

Allen Tate Insurance: You might be surprised where we show up

19 Aug

03_Dfrnt_Ins_Boost (4)Insurance is one of the most personalized products you can purchase. And you buy insurance in hopes you never have to use it.  At Allen Tate Insurance, our goal is to help you with insurance that will protect your personal possessions, business, family, future needs and more.

Personal Possessions

Allen Tate Insurance takes a personal interest in protecting your possessions. Your home, auto, boat, jewelry, antiques and personal property are some of your most important and valued assets. With personal lines insurance, you can have the confidence to know that you are protected if something happens to the things that mean the most to you.

Business

You invest your time, energy, money and heart into your business. Allen Tate Insurance can help you protect it, its assets, its employees and its reputation. Allen Tate Insurance can design an insurance plan for your business to cover the unexpected.

Health

No one plans to get sick, but sickness is a fact of life.  When someone in your household is sick, injured or passes away, it can be a tremendous burden. The right insurance can lighten the burden and ease the financial part of the pain and suffering.  Allen Tate Insurance is here for you in sickness and health.

Long-Term Care

A well-designed long-term care insurance plan will prepare for your future care needs and protect you and your loved ones. Allen Tate Insurance will take care of your future and take care of you.

Allen Tate Insurance will be there for every stage of your life.  It’s your one-stop shop for all your insurance needs.

Robin Price
Vice President of Sales, Allen Tate Insurance

Tips for a Winning Tailgate

17 Aug

The gridiron may be host to a ferocious battle, but the parking lot is home to the fierce and hungry, competing for the title of the best tailgate party! Make sure your game-day gathering is a winner with these football faves.

BBQ GrillFood.

After getting to your spot early, breakfast calls. Toss a tender rib-eye steak on the grill and sizzle several eggs for an over-the-top start to your game day.

Get creative with the slow cooker a day or two before. Make your own version of Carolina barbeque with a dry-rubbed pork shoulder and plenty of homemade sauces for game day sandwiches.

Tip a hat to Coastal Carolina with bacon-wrapped shrimp skewers on the grill. And the so-Southern ham and biscuits is always a hit!

For dessert, try Whiskey Whoopie pies (in honor of giving the opposing team a good whooping!) Assemble and freeze in zip-top bags up to 3 weeks before your tailgate. Defrost in the fridge overnight.

Drink.

Take the edge off a noon kickoff with this make-ahead Bloody Mary mix.

And give the classic gin and tonic a Carolina twist with a drink called, “The Avett Brothers Made Me Do It,” mixed with a splash of North Carolina’s Cheerwine.

Buy extra Cheerwine, Sundrop, Blenheim, Pepsi and other born-in-the-Carolinas soft drinks for designated drivers and partiers who actually want to see the game.

Set-up.

Although handy, not all tailgating requires a tailgate. Many game-goers set up a party tarp, while others trick out a trailer. Sidewall truck coolers are hot, as are custom built portable grills, smokers and kettle cookers.

Atmosphere.

This is where the party begins and ends. There is no such thing as too much team color, from chairs to fashion. Music that sets a victorious tone is encouraged, but not so loud your tailgating neighbors can’t enjoy their own selections. Create a fun and festive place for all your peeps to celebrate the team, and no matter what the outcome of the game, everyone will be a winner!

Tony Jarrett
Regional Vice President, Triad
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