Wednesday, February 27, 2008

This is the time to Buy

This is an excerpt from Time Magazine on why it is a good idea to buy now. "When prices are falling, few people have the discipline to buy stocks, a house, gold, art or any other asset. But those who do pull the trigger excel in the long run. As John D. Rockefeller famously said, "The way to make money is to buy when blood is running in the streets."

This is not the time to buy and sell as an investor, "but let's say you are emotionally ready to be a homeowner. You have good credit, plan to stay put for five years and have been waiting for the perfect entry point. It's time to get serious-before an inevitable rise in interest rates wipes out your advantage. "The thing that will make home prices stop falling is the very same thing that will push mortgage rates higher," says Jim Svinth, chief economist at mortage firm Lending Tree. So anything you gain by further drop in prices might be offset by rising financing costs.

Consider a typical home that sells for $218,900. You put down 20% and get a 30 year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that in 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage cost rise just half a piont, to 6%, your monthly payment would be $994.94 and you'd have saved nothing. Meanwhile, home prices might steady and sellers might become less willing negotiate. And you have spent a year living someplace you'd rather not be."

Friday, December 21, 2007

Olmsted Park



Olmsted Park is a 12.5 acre, 138 unit condo complex located off Magnolia Avenue in Dilworth. It was at one time the site of Charlotte's minor league baseball team. The units range from 600sf 1 bedrooms to 1,200 sf 2 bedrooms around the $200,000 price point. For being the most afffordable complex in Dilworth, they have new kitchens, bathrooms, hardwood floors, and carpet.

This gorgeous newly renovated condo complex offers a pool, clubhouse and winter views of uptown. The residence have formed a tight community that hosts parties and publishes a monthly newsletter.

Let me know if you have questions.

Christina Brown
Realtor/Broker
Cottingham-Chalk & Associates
704-770-7449
cbrown@cottinghamchalk.com
www.christina-brown.com

Wednesday, November 28, 2007

GROWTH EXPERT TAKES BROAD VIEW OF CITY

Can Charlotte

keep growing?

In 12 years, city goes from sitting back to moving forward

CHRISTOPHER D. KIRKPATRICK

ckirkpatrick@charlotteobserver.com

trademark

Eleventh-floor terrace view overlooking uptown Charlotte at the Trademark condos, Trade and Mint Streets in uptown Charlotte. GARY O'BRIEN - gobrien@charlotteobserver.com

Newspaper columnist Neal Peirce couldn't find a good restaurant in uptown 12 years ago when interviewing local leaders about the region and its future.

"It was an area of lonely concrete streets," the syndicated columnist remembered Tuesday. "I'm surprised by the sheer immensity of the development."

Looking back, Peirce also remembered a region with a patchwork transportation system and too many low-skilled workers. He remembered a community still looking to business giants, such as Bank of America's Hugh McColl Jr., for civic leadership. He saw scattered development moving away from central city and threatening sprawl.

The columnist, along with partner Curtis Johnson, were invited in 1995 by the Observer and several nonprofits to look under the Charlotte region's hood. They were considered experts on regional growth and urban revitalization and run The Citistates Group, a Washington D.C.-based think tank. The Observer published the findings in four Sunday installments in the fall of 1995.

The two returned Tuesday to give a talk at a forum at UNC Charlotte about regional cooperation and again to discuss what's going right and what's going wrong. The talk coincided with the release of a new set of regional indicators developed by the university's Urban Institute and meant to gauge quality of life and economic development when compared to other regions.

On this visit, Peirce and Johnson marveled at the now-bustling uptown business district, the scads of restaurants, and the region's vast and organized transit system. They said the Charlotte region was ahead of most in embracing downtown and mixed-use development -- building communities closer to where people work and shop and closer to present and planned mass transit. The idea is for people to drive less to cut down on pollution and traffic.

"That was pretty strange talk 10 years ago," Peirce said. "There's a real change in attitude."

They and other speakers at the five-hour forum stressed the need for more regional cooperation and for leaders to be "audacious" in solving problems, such as stepping up construction of the region's light-rail system to cut down on pollution and to guard against a global oil crisis, Johnson said.

Charlotte should emulate the Denver, Colo., region, Johnson said, which has suffered for years from gridlock and smog. Unable to coax a legislative solution, that region's 31 mayors combined forces over objections from the governor to pass a $5 billion sales tax increase in 2005 to pay for doubling existing rail service, Johnson said.

"Drop the excuses. If you want to do something, just do it," he said. "Charlotte needs to grow its capacity to think and act like a region."

Mayor Pat McCrory, who spoke at the five-hour forum, said that solving the problems requires local leaders not to "get into their political shells."

He said economic development and environmental issues and immigration are among the Charlotte region's biggest challenges. They do not know political, county or state boundaries, he said.

Differences in state-level tax incentives to recruit businesses that end up pitting North Carolina and South Carolina counties in the same region against each other need to disappear, McCrory said. Also, he said the region is too susceptible to the ripples of corporate decision making, such as US Airways' recent attempt to merge with Delta Air Lines Inc. and possibly move the Charlotte hub to Atlanta.

"The way you battle that is to persuade corporations to increase their investment so it becomes too expensive for them to leave," he said.

McCrory said that he and other elected leaders have to be willing to make decisions that might be unpopular in the short run, such as when leaders decided to expand the airport a quarter century ago, he said. "If we hadn't done that, we'd be a different city today."

The region, 20 years ago, used to rely on a small group of "white men," including McColl, to run the region, Peirce said. Leadership today has evolved from that notion, but it still needs to involve a more expansive array of voices, the speakers said.

More businesses and foundations need to be involved in governing, in trying to solve problems, said Paul Grogan, president of the Boston Foundation and a speaker at the forum. His foundation has set about improving Boston's school system and is raising money to study graduation rates and to create reliable statistics, he said.

Politicians are too hamstrung by the needs of special interest groups to always make the best decisions and to lead effectively, he said.

Johnson and Peirce said that the Charlotte region was riding a high of employment and growth but that dark clouds threaten: The region struggles with a higher-than-average high school dropout rate, increasing traffic, a stressed water supply and other growing pains.

And Peirce said that Charlotte depends too much on skilled labor imported from other regions.

How progress is monitored

UNC Charlotte's Urban Institute has developed indicators to judge economic, environmental and social progress in the 14-county region that includes South Carolina. Here are a few examples: • Median household income for the Carolinas is rising quicker than the Charlotte region. And in some of those counties, the gap between rich and poor is widening.

• Even though manufacturing continues to decline as a regional employer, it still leads all other sectors at 15.2 percent of all jobs.

• The region's unemployment rate has risen to 5.1 percent from 3.5 percent in 2000, but was lower than any annual rate between 2001 and 2005.

• The number of graduates in arts, music and theater from the region's higher education institutions rose to 564 in 2005 from 367 in 2002.

• The region saw an increase in grant money spent per capita cultural activities to $0.74 in 2006 from $0.53 in 2005. But per capita government spending on libraries has remained constant.

In their 1995 four-part series, urban experts Neal Peirce and Curtis Johnson studied where the Charlotte region is headed in the 21st century. At the time they weren't bowled over by uptown.

"A generation ago it would have seemed absurd to list Charlotte with Atlanta, Miami, Denver, Dallas, Seattle. No longer. The big banks, the audacious skyline, the NBA and NFL franchises, the thriving airport, the city's dynamism have all seen to that. Charlotte is the Carolinas' undisputed economic capital. ...

But will Charlotte emerge as a trend city, with a fast-moving, urban, cosmopolitan life? We doubt it.

Here's a city and region that seems to care more for trim, green lawns than urban spice. ... Uptown rolls up its sidewalks at 5 p.m. SouthPark is thriving, but urbane it isn't."

Today, uptown is a much different picture.

Developers have proposed, started or completed 20 high-rise residential projects in the center city over the past four years. The projects could produce more than 3,000 residential units and skyrocket the center city population from about 10,000 today to more than 21,000 by 2012.

In addition, six office projects planned or under way total about 1.7 million square feet, enough to add 7,000-plus people to uptown's work force of about 65,000. 1995

2007



--
Christina Brown
Realtor/Broker
Cottingham-Chalk & Associates
6846 Morrison Blvd Charlotte, NC 28211
www.cottinghamchalk.com
www.christina-brown.com
cbrown@cottinghamchalk.com
(c) 704-770-7249
(f) 704-625-1871

Monday, November 26, 2007

The Light Rail is Running

Ticket prices, schedules and more

TICKET PRICES

One-way: $1.30 One-day pass: $4

Seven-day pass: $13

People 62 years and older, people with disabilities (with transit ID or Medicare card): 65 cents

Students (through high school and with transit ID): 65 cents

Children (12 and under, with transit ID, accompanied by adult): 65 cents

Children (46 inches tall or less or 5 years or younger, accompanied by adult): Free

HOW IT WORKS

• To board, you must buy a ticket at kiosks, located on the station platforms. The kiosks now accept cash and coins only, but CATS expects them to accept debit and credit cards by early 2008. The kiosks sell day passes for $4, weekly passes for $13 and one-way tickets for $1.30.

• If passengers have a problem with a kiosk, they can press a button and speak to someone at a call center.

• Light rail passengers can use monthly passes, but the kiosks don't sell them. A list of locations can be found at www.ridetransit.org.

• Train tickets are time-stamped and have the station name where they were purchased as well as the direction. They are good for 90 minutes after they were bought. That time window includes a free bus transfer.

ENFORCEMENT

CATS will have five fare inspectors, and 12 police officers patrolling light rail. Passengers without tickets will first be given warnings. After a grace period, passengers could be fined $50.

SCHEDULE

The Lynx Blue Line will operate from 5 a.m. with the last train stopping at 1:30 a.m. Trains will run every 7.5 minutes during the morning commute -- 6 a.m. to 9 a.m. -- and during the afternoon commute -- 3:30 p.m. to 6:30 p.m. Trains will run every 15 minutes between rush hours. They will run every 20 minutes from 6:30 p.m. to midnight, and every 30 minutes after midnight.

• CATS has electronic screens at each station that can tell passengers the time until the arrival of the next train. After operating the line for several weeks, it hopes to publish train schedules so people can time their arrivals at stations.

• Park-and-ride lots are free.

• Maps showing locations of park-and-ride lots are at www.experiencelynx.com. Click on "About Lynx," then scroll to the bottom of the page and click on the station name.

TICKET PRICES

One-way: $1.30 One-day pass: $4

Seven-day pass: $13

People 62 years and older, people with disabilities (with transit ID or Medicare card): 65 cents

Students (through high school and with transit ID): 65 cents

Children (12 and under, with transit ID, accompanied by adult): 65 cents

Children (46 inches tall or less or 5 years or younger, accompanied by adult): Free



--
Christina Brown
Realtor/Broker
Cottingham-Chalk & Associates
6846 Morrison Blvd Charlotte, NC 28211
www.cottinghamchalk.com
www.christina-brown.com
cbrown@cottinghamchalk.com
(c) 704-770-7249
(f) 704-625-1871

Tuesday, November 13, 2007

NPR special with Dan Cottingham and a CBS article on the Millenials

The NPR special is about 45 min and the Millenials article is a quick read.
 
I hope you enjoy these........
 
 
1. Click on the link below or Listen to hear the NPR Special on the current state of the real estate market.
 
Monday November 12, 2007 
The State of the Real Estate Market
A conversation about the real estate industry and what many in the industry call "The Mortgage Meltdown" or the "Liquidity Crunch". We'll be joined by a real estate expert, a mortgage consultant and a UNC-Charlotte professor when they'll give us an update on what consumers are facing, how long the problem should last, and the best types of loans for different mortgage situations.
Guests:
Stephen McCabe - McCabe Mortgage and Financial Services
Steve Ott - UNC Charltote Interim Dean of the Belk College of Business
Dan Cottingham - Founder of Cottingham Chalk Real Estate
CBS News Online


Friday, November 09, 2007

The sweetest Testimonial

             Hello, my name is Erin Haneline and my husband and I, Matthew have been meaning to write you for the past month.   We are recent first time home-owners thanks to our wonderful agent and now friend, Christina Brown.  I just wanted to take the time to make you aware of what a wonderful person and fantastic agent Christina is.   My husband and I looked for a home for close to 9 months, so as you can imagine it was a long, and at times, tedious process.  Not to mention that during the majority of those 9 months we lived in Atlanta, GA.   I really cannot say enough about Christina's work ethic, sincerity, and perseverance along with us.  Not to mention her patience, and enduring positive attitude.   My parents were very involved in our home buying process, which at times doubled the work for Christina and she never once batted an eye.  She was extremely professional at all times all the while possessing such a warm and personable demeanor.   I would recommend her to anyone I know and look forward to working with her again in the future as we eventually look to sell our first home and re-invest elsewhere.  

            Christina truly loves what she does and you can see that so clearly when given the opportunity to work alongside her.

Second Harvest

So tonight starts the incredible food drive fundraiser at the Corner Pub on Graham Street! Perfect if you want to grab a bite at Alexander Michaels and then go get a .50 cent beer!!!

If you don't know much about Second Harvest, they take food donations and distribute them amongst churches and shelters across Charlotte.

Keep In mind that the Panthers are playing this weekend  - what better place to watch the game and drink a .50 draft!? J



--

SELWYN COMMONS

I visited the Selwyn Commons model yesterday and was welcomed by informative Helen Adams Realtors. The renotavtions were charming and these are some of the most affordable condos in the area!
Helen Adams Realty
 
1, 2 & 3 bedroom condos on Park Road from mid $100's- next to Park Selwyn Terrace an few blocks from Park Road Shopping Center.


Selwyn Commons is the conversion of the Colonial Park Apartments on Park Road in Charlotte, located 1/2 block from shopping and dining at Park Selwyn Terrace, adjacent to Pfeiffer University, McAllister's Deli and a few blocks from the popular Park Road Shopping center.


The project will consist of 41 totally renovated 1, 2 and 3 bedroom condos, exceptionally priced from the mid $100's in a highly desirable area near everything - from Uptown to SouthPark!

Preliminary Specifications (subject to change) include:
• New interior plumbing, paint, refinished hardwoods, new kitchens with granite countertops, new GE appliances, new cabinets & stylish decorator lighting.
• New Heating and air conditioning units, new washer/dryer connections.
• New bathrooms, lighting and fixtures. New doors, screens and electrical service.
• Addition of decorative metal balconies or terraces for each unit.
• Extensive re-landscaping including gathering areas.
• Re-decked pool area with grills.
• Community wireless Internet availability.
• Re-paved parking.
• New painted brick buildings
• New architectural shingles.






--
Christina Brown
Realtor/Broker
Cottingham-Chalk & Associates
6846 Morrison Blvd Charlotte, NC 28211
www.cottinghamchalk.com
www.christina-brown.com
cbrown@cottinghamchalk.com
(c) 704-770-7249
(f) 704-625-1871

Tuesday, November 06, 2007

Condos to Gossip About!

300SouthTryon.com offers a 1700sf spa and fitness center in the heart of uptown. 

Selwyn Commons is a condo conversion offering the least expensive quality living off Park Rd near Madison Park.
 
ChelseaSouthEnd.com for the best of small town quaint gallery crawls and light rail access to uptown.

--
Christina Brown
Realtor/Broker
Cottingham-Chalk & Associates
6846 Morrison Blvd Charlotte, NC 28211
www.cottinghamchalk.com
www.christina-brown.com
cbrown@cottinghamchalk.com
(c) 704-770-7249
(f) 704-625-1871