Charlotte NC - Real Estate / Regional Update

Charlotte Home Values Map

2007-11-08T09:09:00.000-05:00

The Charlotte Chamber of Commerce produced a graphic depicting 2007 home values by area. Click here to see a version of this map. To see an MLS area map of Charlotte (and the surrounding region - Charlotte comprises areas 1 through 9 and 99), click here.

NC Public Schools Report Card - Year Ending 2007

2007-11-06T09:41:00.000-05:00

North Carolina has recently released the NC School Report Cards for individual schools in the state. Each report card includes information about student performance, class size, school safety and teacher quality.

If you are unfamiliar with the Charlotte region, click here to see a map of Charlotte (Mecklenburg County) and surrounding counties. By further clicking on the map, you will see the MLS areas and subareas for the Charlotte region.

Home Repair Cost Guide / Appliance & System Life Expectancy

2007-11-05T09:40:00.000-05:00

(from PillarToPost.com) - Here's a general guide in PDF format of estimated costs to upgrade or replace components and major systems in a typical home. Naturally, costs will differ with location and service provider, but the link will give you a fairly good idea of "ballpark costs". At the bottom of the document, you will find a guide to typical life-expectancies for systems and appliances.

You may click on this link to view -or- right click on the link and do a "Save Target As" to save it to your hard drive.

i-485 (Charlotte Outerbelt) - Completion Schedule Changed

2007-11-03T17:58:00.000-04:00

The state of North Carolina announced a change (delay) in the completion schedule for the two final sections of Interstate 485 - the Charlotte Outerbelt. (see map)

The opening of the section from Highway 16 in Northwest Mecklenburg to Interstate 77 and beyond to State Highway 115 (Old Statesville Road) in North Mecklenburg has now been delayed to Summer 2008 from Winter 2007.

More importantly, the beginning of construction on the final leg, from State Highway 115 (Old Statesville Road) in North Mecklenburg to Interstates 485 and 85 in the Northeastern section of the county, has been delayed two years to 2015, with the anticipated completion now estimated for 2017.

Mortgage Rates Update - Nov 02, 2007

2007-11-02T14:31:00.000-04:00

Home mortgage rates for the Charlotte area are posted here every week. The following rates are provided courtesy of Gene Fitzpatrick. Please feel free to contact Gene or myself with any questions you may have.

GENE FITZPATRICK --- Franklin American Mortgage
Phone: 704.887.3420 x 4153
email: EFitzpatrick@franklinamerican.com

Conforming (under $ 417,000)
Conventional-30 Year Fixed: 6.000%
Conventional-15 Year Fixed: 5.625%
FHA-30 Year Fixed: 6.000% no orig/no points
ARM-5/1 ARM: 5.625%

Non-Conforming (over $ 417,000)
JUMBO-30 Year Fixed: 6.625%

All programs with 1% origination fee and no discount points unless noted. Notice: This is not an advertisement or a solicitation of loans. It is information for Realtors and Builders only and is not to be used to inform potential loan applicants of loan offerings. Franklin American Mortgage will provide quotations in the legally required manner directly to such applicants. All prices and terms subject to change without notice.

Matthews/Stallings - McKee Road Extension Expected

2007-11-01T11:20:00.000-04:00

Matthews/Stallings - McKee Road Extension Expected - (from The Charlotte Observer, 10/28/07)

Within the next few years, it’s possible that a private group comprising Hendrick Auto Group and Erickson Retirement Communities will provide most of the funds to extend McKee Road through John Street, terminating at a clover leaf on U.S. 74. A Hendrick representative said the remaining sections of the extension could be paid for by other developers and through the 2011 N.C. DOT Transportation Improvement Plan. Click here to see a map showing this area.

Hendrick Auto Group is building an auto mall on U.S. 74 that straddles Stallings and Matthews. The group has bought an additional 100 acres there to sell for future development around the auto mall. Erickson Retirement Communities is planning a 1,100-unit development on 83 acres in Matthews.

Developers need the McKee Road extension to provide access to hundreds of acres of undeveloped land. There’s no firm timetable for construction. But developers are working now to acquire rights of way and get construction permits.