The Charlotte Condo Loft

Charlotte’s NoDa neighborhood is an exciting destination for those who love art, a hip lifestyle, and loads of variety. With Charlotte lofts in NoDa, artists and art related retail have the option of a true live work lifestyle in a dynamic and popular community.

Two Charlotte lofts in NoDa are particularly interesting. Fat City is named after the landmark deli which was preserved as the loft building was constructed around it. Fat City lofts feature two and three level units, and the usual high ceilings, great lighting, and modern kitchens that you’d expect in a Charlotte loft. NoDa 18 is a modern loft building which contains 18 townhouse and penthouse residences. They are roomy, comfortable, and quite affordable.

Call us to find out more about NoDa Lofts. Find out why CondoDomain is different from other real estate brokers.

Here’s some news about Charlotte, and our continuing phenomenal growth as a city – in 2009, our population was estimated by the census bureau to be 716,874. Charlotte’s metropolitan area population is 1,725,759. We are the 19th largest city in the United States, and are number 8 on the CNNMoney.com 100 Best Places to Live and Launch list.

The Queen City’s phenomenal growth is attracting young professionals seeking a better lifestyle and more secure employment prospects. Our municipal and regional investments in transit, business growth, and our position as an airport hub all work in our favor.

Take a look at these new and affordable Charlotte condos that are attracting professionals to relocate to the Queen City.
230 South Tryon
The Annex
The Park Condos
Courtside Charlotte
Fifth and Poplar
Find out why CondoDomain is different from other real estate brokers.

Dilworth is an established neighborhood in Charlotte featuring many nice town homes, shopping, and restaurants. Dilworth includes a new light rail line, and plenty of old world style architecture. Dilworth at one time was considered a streetcar suburb of Charlotte, but now is a vibrant part of the city.

Take a look at these unique Dilworth condos:
1315 East Condominiums
Lofts Dilworth

Find out why CondoDomain is different from other real estate brokers.

A condo buying frenzy took place in Charlotte’s Fourth Ward recently. The owners of 501 N. Graham St announced that they were converting to condos, and pricing the units from $99,900 to $221,900. More than 700 people crowded the sales office and model unit.

Condos in Charlotte’s Fourth Ward have previously had a price range of $150,000 to over $1 million. This tremendous interest shows that at the right price, Charlotte’s Fourth Ward is a very attractive neighborhood, and one that holds interest and value in Center City.

Here are some listings in Charlotte’s Fourth Ward:

The Garrison At Graham

The Citadin

701 North Church

Fifth and Poplar

Find out why Condodomain is different from other brokers.

Foreclosures are on many people’s minds lately.  Since the Federal Government has offered incentives to lenders to restructure people’s loans, local and state governments are encouraging home owners to seek help sooner rather than later and work with their lender to avoid foreclosure.  Help includes restructuring loans, and the purchase of homes by municipalities and non profits.

Foreclosure is the last stop on the money crisis train for home owners.  Once a home is foreclosed, the lender really does not want to own it.  This is why for the savvy buyer, these homes can be a great deal.

Charlotte foreclosures are no longer just in risky neighborhoods.  The foreclosure crisis has hit all sorts of homes in all types of areas.  Pre-foreclosure, many homeowners and developers are willing to negotiate with a buyer/investor.  If they can walk away with a little cash and satisfied liens, and you have a property for less than the market value, it can be a win – win proposition.

How do you find pre-foreclosure opportunities?  By searching for them on our site!  Our partnership with RealtyTrac enables you to search all Charlotte foreclosure listings.  Pre-foreclosures, foreclosure auctions, and bank owned properties are all at your fingertips on our site, and we can help you make sense of the entire process.  We can also assist you with obtaining financing.  Contact us today to learn more about Charlotte foreclosure opportunities.

There’s been a lot of attention to nationwide foreclosures in the news lately. The number of foreclosures is up this month, and looks pretty drastic. This is partly because of the moratorium on foreclosures in December and through February, awaiting word from the White House on how the federal government would intervene. Now that the moratorium is over, foreclosed properties that were already set for auction have been again scheduled for sale, and now there is a backlog of them.

Foreclosures are pressuring the real estate market in many cities, but providing many opportunities for home ownership. Formerly investors and “house flippers” were the majority at Charlotte foreclosure auctions. But now, regular home buyers who want a chance at an affordable home are flocking to Charlotte foreclosure auctions.

While foreclosures in huge numbers hammer housing prices, efforts to sell the homes and get them off the market have two benefits. One is that once the large inventory of Charlotte foreclosures is off the market, housing prices can stabilize and a true market value can again be established, with homeowners once again building equity. The second benefit is obvious – the buyer gets a home at a low price.

Buying a Charlotte foreclosure is not without risk, since the buyer is responsible for repairs and all liens against the property, including taxes, construction liens, and second mortgages. When it comes to Charlotte condos, it’s possible to have less risk exposure than with a freestanding house.   We can help you with this. We can give you information about the building, the community, and assisting you in finding out the truth about all outstanding liens. We can also assist you with purchasing any foreclosure you choose, not just a condo.

Here at CondoDomain, we have partnered with RealtyTrac so that you can search all available and pending foreclosures in the Charlotte area. Take a look at these, and then call us with your questions.

In the middle of all the gloomy news we’re hearing lately, here’s some good news for you if you are apartment hunting in Charlotte.

According to WCNC news, one in every five apartments in Charlotte is empty. Whether you rent or buy, there’s a lot to choose from – and at lower prices than last year.

(Catalyst is one of the really great opportunities for tenants and home buyers alike. These brand new luxury Charlotte condominiums have a unique feature; HALO.  (Home Automation, Lifestyle Organization). It’s a state of the art systen which works on a PC, laptop, or wireless device to connect residents to home information. Use HALO to schedule home maintenance, request dry cleaning pick up, or monitor your energy, heat and water systems.

Oh yes, there’s a pool at Catalyst too. And Ipod docking stations. And state of the art wiring for internet, phone, and surround sound. Don’t forget the club room and the media room. And in your residence,
there are floor to ceiling windows, 10 foot ceiings, spa-like master baths, and private balconies.

These one and two bedroom Charlotte condominiums start in the $170k range. If you’re not ready to buy, rentals are very reasonable – and come with incentives.

Call me to tour Catalyst today. And remember, at Condodomain, we give you money back at closing.

The first time home buyer tax credit of $8000 is generating a lot of interest among potential Charlotte Condo buyers – and a lot of questions.

What’s interesting for all home buyers is the various initiatives in states right now - California just passed a $10000 tax credit for newly constructed homes available to ALL home buyers this year, in addition to the federal $8000 credit for first time home buyers. Delaware is considering mortgage and down payment assistance. Missouri is considering a $1000 credit for all home buyers, which is attached to a jobs bill. And on a more localized level, Philadelphia is offering up to $5000 for 300 new home buyers IF their employer matches the contribution. So far about 180 people have qualified under the Home-Buy-Now program. Philadelphia also has many properties that qualify for a 10 year tax abatement.

Keep watching your state and your city legislators – more help may be on the way.

Some questions that buyers have posed recently:

1. What happened to the federal $7500 credit? Can I claim that AND the $8000 credit too?

No. The $7500 credit can be claimed this year for purchases in 2008 – and it has to be paid back. The $8000 credit is for homes purchased in 2009 – and does not have to be paid back.

2. Who is a first time home buyer?

For the purposes of the $8000 first time home buyer stimulus credit, a first time home buyer is someone who has not owned a home within the past three years.

3. What happened to the $15,000 credit that was being talked about?

In the final stimulus bill, Congress reduced it to $8000, and allowed for credits on vehicle purchases. Many people in the building and real estate professions are lobbying for a full $15,000 credit for all home buyers – across all markets that would be a REAL jump start, especially in those areas where prices have fallen more than 50%. But hey, right now, it is what it is – grab it and go for it.

4. When do I see the money?

When you file your 2010 tax return.

5. What else can I do to get a great deal?

Glad you asked that question. In addition to the tax credits, here at Condodomain, we encourage you to contact our local realtors to find the best deal that is right for you – and when you get to closing, we give you money back. Yes, we offer a rebate on the commission costs that the seller pays. We charge you a flat fee for buyer representation, and the rest of the commission goes in YOUR pocket at closing – not ours.

If you buy a Charlotte condo for $500,000 we negotiate the best deal possible for you. We help you find the best possible mortgage for you. Then, at closing, we cut you a check (based on a price of $500,000) for up to $10,000. Next year, when you file your taxes, claim your tax credit based on your purchase price for additional savings.

Call us today to take advantage of all the great deals on Charlotte condos for ALL home buyers.  And remember, we’re the people who provide you world class service and give you money back at closing.

If you’re looking to get in on a great opportunity for new urban living in the heart of Dilworth, then let’s get you into 1315 East quickly. Most of the units are sold out, a few remain priced from the $190s to the $370s. These Charlotte condos are in a 100 year old neighborhood with traditional structures, sturdy construction, and beautiful streets and parks. They are newly built, and very modern.

Most of the Charlotte condo residences at 1315 East are sold, and only a few remain. 1315 East is a secured access building with secure garage parking. Residents enjoy a rooftop terrace, 9 foot ceiings, oversize Roman tubs, concrete and steel construction and 40 gallon water heaters. The building is pre-wired for high speed internet, and wireless capability is throughout building.

There’s a lot of press about condos being empty, but this is not the case with 1315 East. It’s an excellent choice for your Charlotte condo residence and urban upbeat lifestyle.

Remember, when you buy with CondoDomain, we give you money back at closing.

Here at CondoDomain, we know that foreclosures offer our buyers tremendous savings. We have partnered with Foreclosures.com to give our buyers great opportunities to save on Charlotte foreclosures.

Foreclosures.com also provides pre-foreclosure and short sale information. We’re happy to present this to you and assist you in finding all the great opportunities for buyers of Charlotte foreclosures.

Looking through the data we now have on our site, here’s a few Charlotte foreclosure opportunities I really like for buyers:

N Tryon St Charlotte, NC 28202 $73,400
W 1St St # 308 Charlotte, NC 28202 $169,900
Maywood Dr Charlotte, NC 28205 $215,500

Foreclosure is the legal and professional proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption. Usually a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, the lender cannot be sure that it can successfully repossess the property, thus the lender seeks to foreclose the equitable right of redemption. Other lienholders can also foreclose the owner’s right of redemption for other debts, such as for overdue taxes, unpaid contractors’ bills or overdue HOA dues or assessments. More details here on wikipedia.

We’ll be blogging more about Charlotte foreclosure in the weeks ahead – the laws that affect you, the buyer, the process, and of course, the tremendous opportunities.

Call us to learn more about these great foreclosure opportunities.

For the ultimate in luxurious boutique Charlotte condominium living, Trust Charlotte.

Yes, that’s the name of the unique luxury residence that boasts only 8 custom designed homes with just about every amenity you could desire. The Trust Charlotte is a boutique Charlotte condominium, located in the former Home Federal Savings and Loan building, at 139 Tryon St. The 1967 modernist structure has adapted well to house stylish contemporary Charlotte condominiums, which are all one-of-a-kind.

Enter into elegance as you step into the grand mezzanine marble entrance. One of the nice things about living in a former bank building is that you actually have your wine cellar and lounge in an authentic bank vault!

Every one of a kind unit features 360o pivoting window walls, extended ceiling height, Viking Designer Series appliances, a home automation system, secure private parking and storage space, a recessed outdoor living space with sliding doors and gas grills and of course, imported granite counter tops and hardwood floors.

Amazing views of uptown Charlotte are yours also from the Grand Roof Terrace. This area includes an outdoor kitchen, comfortable seating, a water wall, and lush landscaping. It’s your escape in the middle of the prime area of town.

Priced from $600k to $2 million, these luxurious unique Charlotte Condominiums are a true find for upscale, urban living. Contact me today about touring these unique homes at Trust Charlotte.

And remember, when you buy with CondoDomain, we give you money back at closing.

Lets talk about the “f” word – Foreclosure. We’ve seen a lot of attention lately to President Obama’s plan to help distressed home owners avoid foreclosure, and relieve the pressure of those drastically reduced priced  homes on the market.   And of course, we’ve seen this rant and this response.

What does this mean for you, the buyer of a condo here in Charlotte? Is a Charlotte Foreclosure a good deal for you? Will action by Congress keep you from getting an unbelievably good deal, or sweeten the deal more for you?

First, the basics of the plan. The Homeowner Affordability and Stability Plan will not go to speculators, and is intended for owner occupied homes. The Treasury will partner with lenders to reduce monthly payments, bringing down rates so that the monthly payment is no more that 38% of the borrowers monthly income.

Then further reductions will be matched dollar for dollar with the lender to bring the interest down to a 31% debt to income ratio. The modifications will be in effect for 5 years.

These apply to conforming loans only – jumbo loans, non conforming loans don’t qualify. If a mortgage is not held or guaranteed by Freddie Mac or Fannie Mae, or if a loan is more than $417,000, the homeowner won’t qualify for relief. If foreclosure is imminent, further incentives are offered to lenders to consider alternatives, such as short sales. Encouraging sellers and banks to use the short sale option is beneficial to them, and also to you, the buyer.

If the loan is not guaranteed by Fannie or Freddie, then the lender may rewrite the loan, but this is voluntary. While there are incentives for them to do this, it is not a guarantee.

Because of the sheer number of foreclosures pressuring the market in some areas of Florida and California, housing prices have dropped so much in those states that there is no way to re write the loan and have a reasonable loan to value ratio. The plan proposes to cap the ratio at 105% – far too low for some home owners who have seen a 50% drop in their home value since they obtained a mortgage.

So a homeowner who bought in 05-06, in a market where $417,000 plus a downpayment bought very little for the money, likely has a non conforming mortgage. Their property value has declined steeply, and they are in trouble and staying in trouble. However, they may qualify for some of the incentives to avoid foreclosure if their lender agrees. If these properties are offered as a shortsale, the price benefits the buyer.

The Homeowner Affordability and Stability Plan will help some people, and give lenders the incentive to accept alternatives to foreclosure. For buyers, the prices now are great, whether you buy a short sale or an Baltimore foreclosure. You want to build equity further down the road. Reducing the number of foreclosures and distress sales on the real estate market will relieve the pressure on prices – and give us a truer sense of the market value of our homes.

Ultimately, a total economic recovery will stimulate the real estate market, because people will have jobs, income, and not be selling their homes due to “distress”.

We can show you Charlotte condos in your price range that are a great buy now, and likely to build equity for you later in a recovered market. Some are distress sales, short sales, and some are Charlotte Foreclosures. And, they’re wonderful places to live.  Call us,  and remember – when you buy your home with Condodomain, we give you money back at closing.