South Carolina produced major league standouts like Camden’s Larry Doby and Anderson’s Jim Rice. North Carolina brought us Williamston’s Gaylord Perry, Hertford’s Catfish Hunter, and Raleigh’s Josh Hamilton. And while the Carolinas do not have a major league baseball team (yet), minor league teams such as the Durham Bulls, Charlotte Knights, Carolina Mudcats, Burlington Royals, Greensboro Grasshoppers, and Winston-Salem Dash keep the game relevant and thriving.
We know that folks are retiring here. We know for a fact that the population is growing organically. We know the state of North Carolina, through its state university systems and private universities, is attracting bright young talent. We know that young people who go away to school return back here to build a career and start a family. We know that folks seeking a second career are migrating here to retool and regenerate. We know that career professionals who are self employed, and need an international airport, choose us for their landing pad.
When my clients first move to Charlotte, they typically ask for utility provider information and the numbers of my hairstylist, dentist and doctors. As soon as they start getting settled, I get calls for paint color ideas, where to find unique lighting fixtures, where to buy outdoor furniture… the list goes on.
I love getting these calls because I know how hard it is to find out what the insiders already know. In fact, it has taken me 14 years of living in Charlotte to discover these “Insider Secrets” myself. I hope you enjoy them as much as I do!
The importance of the arts, be it concerts, museums, dance, visual arts or theater, is undeniable. The arts teach us about a region’s history and more importantly enriches the lives of those who live there. Oftentimes, when individuals or families are moving to a new region, an important factor that they consider is a strong prevalence of the arts.
North Carolina is filled with cities that offer countless opportunities to engage with the arts, the city of Charlotte being no exception. I’m a concert junkie and recently I had the chance to attend two great concerts in Charlotte.
The first was The Oak Ridge Boys, held in uptown Charlotte at the Belk Theater in North Carolina’s Blumenthal Performing Arts Center. Ok, so it may not be everyone’s taste in music but even my husband, who wasn’t so sure about going, enjoyed the music. From the suburbs of Charlotte, it took us 30 minutes to drive uptown, park a block and a half away for free, yes free since it was after 6 pm, and walk to our venue. What other large city (Charlotte is the 21st largest in the US) offers such convenience?!
There has been a lot of conversation recently about the first time homebuyer’s tax credit and its effects on the market. But what about the upper end of the market, specifically homes priced at $750,000 and above?
To understand the current status, we need to review what impacts buyers and sellers in this part of the market:
Ability to get mortgages
Inventory of homes on the market
While the same 3 factors affect all buyers and sellers regardless of price point these trends affect the high-end buyer a little differently. Let’s take a look at how this group specifically has been affected.
On May 20, 1775, British oppression reached a boiling point and the Scots-Irish drafted the Mecklenburg Declaration of Independence. This May, a statue of Captain Jack was erected in Charlotte, NC in honor of the brave citizens who delivered the Declaration one full year prior to the Philadelphia signing.
North Carolina stirred the pot. Cornwallis called us “A Hornet’s Nest.”
Independence has been the cornerstone of America. In residential housing, independents are still the driving force. Contrary to what one might think, there is no national real estate company. Yes, there are brands that folks may identify as such, but with those franchise brands, there is a required disclosure: “Each office is independently owned and operated.”
We all love to eat…and there’s no better time to try new foods and restaurants in Charlotte than during the “Taste of Charlotte” festival, June 11-13. Whether you favor BBQ, Indian cuisine, fine wines, or gourmet pizza, it’s all found along Tryon Street in Uptown Charlotte this weekend. Best of all, admission is free!
Food, drinks, dancing and music are part of the festival, and it’s not to be missed. Invite your friends who are new to Charlotte to attend…maybe offer them a few “Festival Coins” so you can treat them to some of the delicious food. The event is very “kid-friendly” with many games and activities just for the youngsters.
The long term health of a real estate market is impacted by several factors. Previously, I discussed the importance of supply and demand. Another factor that plays an equally important role is quality of life. Unlike supply and demand, quality of life is not objective. What does it really mean? How would you measure it? How could it be impacted positively or negatively?
A recent survey from Portfolio answered all of these questions by comparing the performance of the country’s 67 largest metro areas in 20 statistical categories. The highest scores went to well-rounded markets with healthy economies, moderate costs of living, light traffic, impressive housing stocks, and high powered education systems. And…drum roll please….
Raleigh, NC ranks #1 and Charlotte, NC ranks #16. Our only 2 qualifying metros and they are both in the top 20.
On May 12, I was fortunate to attend the opening ceremonies of the NASCAR Hall of Fame. It did not truly sink in until I was there, but what an amazing event to be able to say I was there!
Having attended many NASCAR races over the past 25 years, I know a little something about NASCAR and instantly recognized several drivers and others involved in the sport. One of the first was Ernie Irvan which is a name that many won’t recognize as he retired in the late 1990’s after being involved in an accident.
Opening the NASCAR Hall of Fame in Charlotte, N.C. is a great honor and opportunity for the city and region. As a sport, NASCAR has a tremendously large and dedicated fan base that has been waiting years and years for something like a Hall of Fame to open. Given where many people within the industry are from and where a majority of the teams are located, Charlotte, N.C is an ideal fit. It is a great place to not only see a race but also vacation with beautiful beaches and breathtaking mountains, including the Blue Ridge and Appalachians, being only 2-3 hours away.
Sitting back and reflecting on the real estate industry, I am amazed at all that we have been through. There is no denying that over the past decade, we have lived through some extreme highs and extreme lows together. That being said, if we take a step back to examine the real estate market since 1950, it is clear that we are continuing to see forward progress. Today, we are adjusting and recalculating from a 5-year hiatus, which is why I felt the need for the Allen Tate Company to create a blog where myself and my Allen Tate team members can share with you information about home ownership. This is a very important topic to us and is one that covers buying and selling homes, mortgages and insurance, relocation and renovation as well as the state of national, regional and local housing markets.
As the sun rises on the residential housing market in America, there is an extra ray of light shining on the place I call home.
The I-40/85/77 corridor has been named among one of the strongest metropolitan areas in the country. In a nutshell, the Carolinas represent a region poised for unparalleled growth and attention. Why is this, you may ask? I attribute it to the economic diversity of our job clusters, climate (who could possibly say no to this weather?!), pro business attitudes, work ethic, quality of life, and cost of living to name just a few.