Homes for Sale Report for the Montibello, Park Crossing, and Heydon Hall Neighborhoods

The neighborhood of Montibello, located between Carmel Rd and Rea Rd, is an upscale neighborhood with easy access to Carmel Country Club and Southpark Mall. A long time Charlotte favorite, many homes have had substantial additions and remodels. Olde Providence, just off Old Providence and Rea, is another in close subdivision with loads of tall trees and curb appeal. Park Crossing is an all brick classic, minutes to Rt 485, great trees, homes and tennis, with major shopping 5 minutes away, and Uptown Charlotte only 15-20 minutes away. I have new photo galleries coming of all three... stay tuned. There are 7 homes currently for sale in Montibello. They are broken down below by price:

There are 3 homes for sale for under $600,000.

There are 4 homes for sale for under $725,000, but more than $600k.

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Home Prices in Charlotte Fall 4%, Demand Down 26% in May 2008 on Single Family Homes.

Demand, or units sold, was off 26% and prices fell 4% when comparing the Sold Cost per square foot prices of MLS sales in May 2008 versus May 2007, proving that after 6 months of double digit declines in demand Charlotte is not immune to the law of supply and demand as sellers are meeting buyer expectations and lowering their prices. The average cost per square foot for homes sold in north Charlotte in May 2008 was 113/sf, versus $154/sf in South Charlotte. The price decline appears to be spread relatively evenly geographically, as northern Charlotte home prices (includes the Lake Norman area) fell 5.4% and South Charlotte home prices fell 6%. However, Charlotte home prices still remain well above 2006 levels. More than 2,900 properties sold last month in total, so there is a solid market responding to weakening demand. I take all of my numbers from the Carolina MLS (they don't provide the summary- just data) where Case-Shiller uses a different, and more precise method and they still report Charlotte housing market as rising in price through March (less than 1%)

What's the bottom line for home Buyers and Sellers? It means if you are a Seller, this is not a "move up" year... Only put your home on the market because you have to: a job transfer or job loss, leaving the area, death in the family etc. Otherwise you would be better off to wait; I expect a substantial price uptick in 2009. For Buyers- know this- we never had the large run up of prices that many markets did, so there isn't the massive paper equity other markets had, so there will not be any large price drops here- we have already proven this as home prices began dropping in earnest across the country in 2006.. and then you have to check out today's interest rates. If you wait until the market has turned the corner, you'll be facing stiffer mortgage rates- Rising rates go hand in hand with a growing economy. Buy now, but buy at a discount to protect yourself, and lock in that low rate. I 'll be comparing various communities and neighborhoods to see how they fared in May in coming posts. -----------------

Moving to Charlotte? Considering a Move? Call me, Terry, about these or any other homes in the greater Charlotte area at 704-351-1519 or Search All Charlotte Homes, for that perfect home in Charlotte.

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Charlotte Home Prices fall 4%, Units sold off 26% in May 2008 on single family homes.

Demand, or units sold, was off 26% and prices fell 4% when comparing the Sold Cost per square foot prices of MLS sales in May 2008 versus May 2007, proving that after 6 months of double digit declines in demand Charlotte is not immune to the law of supply and demand as sellers are meeting buyer expectations and lowering their prices.

The average cost per square foot for homes sold in north Charlotte in May 2008 was 113/sf, versus $154/sf in South Charlotte. The price decline appears to be spread relatively evenly geographically, as northern Charlotte home prices (includes the Lake Norman area) fell 5.4% and South Charlotte home prices fell 6%. However, Charlotte home prices still remain well above 2006 levels.

More than 2,900 properties sold last month in total, so there is a solid market responding to weakening demand.

I take all of my numbers from the Carolina MLS (they don't provide the summary- just data) where Case-Shiller uses a different, and more precise method and they still report Charlotte housing market as rising in price through March (less than 1%)

What does this mean to home Buyers and Sellers? It means if you are a Seller, this is not a "move up" year... Only put your home on the market because you have to: a job transfer or job loss, leaving the area, death in the family etc. Otherwise you would be better off to wait; I expect a substantial price uptick in 2009. For Buyers- know this- we never had the large run up of prices that many markets did, so there isn't the massive paper equity other markets had, so there will not be any large price drops here- we have already proven this as home prices began dropping in earnest across the country in 2006.. and then you have to check out today's interest rates. If you wait until the market has turned the corner, you'll be facing stiffer mortgage rates- Rising rates go hand in hand with a growing economy. Buy now, but buy at a discount to protect yourself, and lock in that low rate.

I 'll be comparing various communities and neighborhoods to see how they fared in May in coming posts.

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Moving to Charlotte? Considering a Move? Call me, Terry, about these or any other homes in the greater Charlotte area at 704-351-1519 or Search All Charlotte Homes- By Area , for that perfect home in Charlotte.

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Homes for Sale in the Beverly Crest, Providence Plantation, and Raintree- Arboretum area of South Charlotte

Three great neighborhoods in South Charlotte known for their convenience, affordability and easy living... Ask anyone who lives here- the Arboretum area rocks! This is the intersection of Providence Road and RT 51, Pineville-Matthews Road, with only Beverly Crest being inside Rt 51 on the Charlotte side of Rt 51. This big 3 gives you all styles of homes: a traditional style in Providence Plantation, Craftsman style in Beverly Crest, and contemporary at Raintree.

The neighborhood of Beverly Crest is located on the corner of Providence Rd and Matthews-Pineville Rd (Hwy 51). The neighborhood is located a 1 or 2 drive away from the Arboretum and is within walking distance of Providence high school. Beverly Crest is convenient to those working in the uptown area, only a 15- 20 minute drive, and about 10 minutes to Soutpark. Here is a great Beverly Crest home for sale from a post I wrote last week.

The homes for sale in Beverly Crest are broken down below by price:

There are 4 homes for sale for under $300,000.

There are 13 homes for sale under $400,000, but more than $300k.

There are 6 homes for sale for more than $400k.

Providence Plantation is located between Providence Rd, Matthews-Pineville Rd and McKee Rd. One of the larger neighborhoods in Charlotte there are

many homes for sale in the neighborhood and there are a variety of different types of homes for sale as well. The old section of Providence Plantation is mostly larger, brick, homes while the newer section sports more reasonable sized homes with a variety of styles. Providence Plantation is minutes away from the Siskey YMCA, the first or second largest YMCA in the country (depending on how you measure it). The homes for sale in the neighborhood are broken down below by price:

There are 14 homes for sale under $400,000.

There are 26 homes for sale under $600,000, but more than $400k.

There are 20 homes for sale for more than $600k.

Raintree is a large golf course neighborhood located on RT 51, Matthews-Pineville Rd, next to the Arboretum and very close to Beverly Crest. Raintree has one of the most reasoanble fee structure around and offers full and social memebership- along with (2) 18 hole golf courses. Similar in location to Beverly Crest, it is only a 20 minute drive to uptown and is also accessible (about a 5 minute drive) to Rt 485, the Charlotte beltway. The homes for sale in Raintree are broken down below by price:

There are 3 homes for sale under $200,000.

There are 11 homes for sale under $300,000, but more than $200k.

There are 6 homes for sale for more than 300k.

Moving to Beverly Crest, Providence Plantation or Raintree? Charlotte? Call me, Terry, about these or any other homes in the greater Charlotte area at 704-351-1519 or Search All Charlotte Homes- By Area for the perfect home in Charlotte.

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Strong Charlotte Real Estate Values Hold Up Well

Did you see last weeks Case- Shiller Report? For the 3rd month in a row, Charlotte is the ONLY market of 20 leading markets in the country with Rising prices... before we get too excited lets note that it is less than a 1% increase-- but still, the national market price index dropped 14% for the same month. Bad news if you have to sell your home to get here.
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Baxter Village in Ft Mill announced it's 1000 th home closing since it began in 1999 .This "city within a city" is extremely convenient just off I 77 in nearby Ft Mill-

and of course has the ridiculously low SC property taxes and a great walking community plan designed to improve on the popular Birkdale live -work-walk concept. This is from their website: "Baxter Village... Where forgotten pleasures of small town life frame your existence. Located in historic Fort Mill, S.C. Beautiful townhomes starting in the low 200's and single family homes from 300 - 500's."

Remember... All the best deals are in new home inventory. Buy inventory at a discount!

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May Charlotte Real Estate Market Reports will be out next week- the most up to date market information on Charlotte Real Estate- they will be interesting as they compare the Cost per SF of sold homes from May 2007 to May 2008....

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Moving To Charlotte? Considering a Move? Please don't hesitate to give me, Terry, a call at 704-351-1519 or, to search for homes online, try my easy to use site Search the Charlotte MLS-By Area

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