Uptown Charlotte’s First Ward Calendar Year Activity for 2009
Posted On: February 22, 2010 By: admin
Uptown Charlotte’s First Ward Calendar Year Activity for 2009.
During the calendar year 2009 First Ward in Uptown Charlotte enjoyed steady selling activity! By the last day of the year, 20 townhouses/condos had sold. These 20 townhouses were on the market an average of 92 days. The average heated square footage of these 20 units was 957 square feet. The average list price was $208,369, and the average sold price was $198,275. These properties sold for an average 95% of the list price.
Eleven of the 20 units had more than one bedroom. Nine units had one bedroom, one unit had three bedrooms, and ten had two bedrooms. The third quarter of the year was the busiest in sales. Ten units sold during the third quarter, while the second quarter came in second with six closed sales. The first quarter of 2009 saw three closed sales, and the fourth quarter had only one closed sale in First Ward.
Courtside Condos at the corner of East Sixth and Caldwell Streets enjoyed the majority of the sales. Of the 20 units sold, six were at Courtside Condos, or 30% of the units sold in First Ward during 2009. Court 6 Condos located on 6th Street, between N. Davidson and Caldwell followed Courtside Condos with 3 sales, or half the sales of Courtside, during 2009.
Looking at 2010 year to date, First Ward currently has 18 townhouses or condos on the market, and one unit pending the closing of the sale. There have been no closed sales in First Ward year to date.
Category: First Ward
February 2010 Mortgage Rate Update
Posted On: February 8, 2010 By: admin
A three month look at MBS (mortgage backed securities) tells us that prices today are at the highest point of the year thus far. As mortgage backed securities increase, interest rates will continue to fall and may hit all-time lows in coming weeks. Today’s question would be “What will send MBS’s prices even higher?” The answer would be strong signs that the economic recovery is failing both at home and abroad.
Greece’s debt level is a high concern. Goldman Sachs was quick to point out that if Greece is handled incorrectly by the Euro Zone then a large portion of Europe’s GDP could be at risk. That would be the catalyst that would encourage investors to pay higher prices for safer assets such as Treasuries and MBS and pull money from riskier assets causing rates to fall. and setting the economy back three months and erasing the hopes of a strong first quarter.
Though the thought falling interest rates is attractive, be cautious of the banks putting their wallets away and shoring up for a rough spring. With first-time buyer incentives ending in April, all-time low rates, and the most liberal lending environment in the last year, it may be wise to act now.
Edward Mayor, Wyndham Capital Mortgage (704) 369-2629
Wyndham Capital Mortgage rates:
Conventional 30yr Fixed ………………..4.750%
Conventional 15yr Fixed…………………4.125%
Conventional 5/1 ARM……………………3.500%
FHA 30yr Fixed……………………………4.750%
FHA 15yr Fixed……………………………4.250%
Category: Uncategorized
January 2010 Charlotte Condos Report!
Posted On: February 8, 2010 By: admin
January 2010 Charlotte Condos Report!
There were 65 properties on the market with an average list price of $317,220
5 property were conditional.
6 properties were pending.
2 properties were contingent.
23 properties were withdrawn.
30 expired listings.
The 7 sold units had an average listing price of $259,409 and sold for of $238,557 averaging 135 days on the market.
The 7 units that were sold for the month were located at Fifth and Poplar, 230 South Tyron, 626 North Graham, 400 North Church, Avenue Condominiums and two at Cedar Street Commons.
Category: Statistics
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