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Keith Lutz

Marvin NC Homes

Keith Lutz posted this 2,234 Views

Marvin NC Homes If you are thinking of moving to Charlotte, then a nice suburb (village) to check out is Marvin NC Homes!  This quaint community just South of Charlotte is a bedroom community that is still recovering from the high (but improving) un-employment rates thru out Charlotte and NC.  Remember, these homes are all in the Marvin Ridge School system which is rated one of the highest in North Carolina! Please click on the link above to find out more! Here is a quick glimpse of...

Foreclosures of Matthews, NC

Keith Lutz posted this 4,174 Views

If you are looking for a home around Charlotte NC, you may want to try this great little town called Matthews.  It is located in the South East portion of Mecklenberg.  The town has roots that go back to the early 1800's, where it was originally named Fullwood Station and Stumptown.  The reason for Fullwood, was because the postmaster name was John Miles Fullwood, and the reason for Stumptown, was because this area was fertile in trees, and as they were cut down, the area became known as Stu...

Foreclosures of Marvin Ridge School District (Waxhaw, Marvin)

Keith Lutz posted this 5,273 Views

Many, many people want to live in a highly rated school district.  Marvin Ridge is one of them in Charlotte, NC.  As a matter of fact, I know of several Carolina Panthers children along with Charlotte Bobcats kids go here.  Now the area is filled with many fine mansions, but believe it or not, there are still homes for reasonable prices. Here is a map showing some homes that are in foreclosure.  Not all are listed on the MLS, but all are owned by a bank.  Som...

Chinese Drywall - The signs you may have it!

Keith Lutz posted this 2 4,365 Views

Lets start by saying at this time there are no definitive scientific tests to determine if some home has Chinese drywall. BUT What the field inspectors are noticing is a rotten egg smell (sulfuric acid). Also the other thing people are noticing is all the corrosion (a blackening) of metal items like bathroom fixtures, electric socket copper wires, and copper pipes. Also frequent failures of heating and cooling systems too. Detection Tricks! One industry event re...

Charlotte most affluent zip code, can you guess it?

Keith Lutz posted this 4,362 Views

  Can you guess it. I bet you could. Of course it will be close to center city, but not in the four wards. It is by a major hospital, has the word park in its name. It is zip code 28207. Okay you guessed it...   Myers Park   This is based on data from www.esri.com and their properitery method based on calculating affluence. Some stats about the area are: 2009 average home value - $702,154 2009 average disposable income - $117,694 20...

Charlotte Average Home Sales decline 6%

Keith Lutz posted this 2,349 Views

On the average sales price of a home also dipped 6%. The price dropped from $209,245 in August to $196,760. The closings went from 2,221 to 1,945. The good news is after a hard winter, I predict we will bounce back in the Spring of 2010. Sorry to say, but I think we all expected the month of September to be lower than the previous month. Kids going to school and all. But 12% is a pretty big number for Charlotte. Also YOY we dropped 13%.   What say you?   Keith...

FHA stepping up and helping Condo purchases

Keith Lutz posted this 2,251 Views

It is amazing how far FHA Loans have come for such a big organization. FHA now has a 35% market share of conventional loans from what used to be a 5% market share, a little under two years ago. Check out the Realtor.TV link or hopefully REW website allows this video to show (embedded code). I saw this interesting piece on Realtor.TV. She talks alot about new legislation around how FHA loans were not very friendly to Condos. This Condominiums page allows users to search for FHA-app...

Elizabeth Sales Price Down?

Keith Lutz posted this 3,287 Views

I just saw an article on Yahoo and Charlotte Business Journal saying sales are down in Elizabeth (which is an area of Charlotte, most in zip 28204). The article went on to say that Forbes.com says the Elizabeth area of Charlotte is among 25 U.S. neighborhoods experiencing the fastest drop in home prices.  Also that year over year, there has been a 37% drop of price, with the median sales price at $272,000.  The criteria Forbes.com looked at was the top 25 cities in America, an a...

High End sales drop 70%

Keith Lutz posted this 2,500 Views

The number of homes that have sold above $750,000, or those considered High-end for Charlotte, have plummeted according to the National Associations of Realtors, and according to my own analysis.  From the first quarter of 2009 there were only 75 properties sold, in all 10 areas of Charlotte. Compare this to the first quarter of 2007 where 245 sold.  This is a 69% drop.  Even 2008 compared to 2009, was a 54% decline. Bottom line is lets face it.  The financial ...

The Current Trend of Homes sizes!

Keith Lutz posted this 1 3,391 Views

The average home size is shrinking according to third quarter 2008 statistics, from the U.S. Census Bureau.  The second quarter had an average home size of 2629 sq. ft. vs. 2438 for the third quarter.  That is a whopping 7.3% decrease in three months, say good bye to McMansions eventually.  There are other statistics to back up this fact.  Fewer luxury items are being consumed.  For instance 62% of new homes had fireplaces in them in 1991, now only 51% have them i...