Tue, 29 April 2008
April 29, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in
Ladies and Gentlemen, Sharpen Your Pencils…Pop Quiz! PS. Answers. Hold your phone upside down to read: |
Mon, 28 April 2008
April 28, 2008
It was the best of times, it is the worst of times…you’ve heard that one, right?
Well, it is the best of times because I am doing the things I love: learning, going to real estate and computer classes, visiting new construction sites, reading all the news from the local MLS folks and then pouring over the statistics from the National Association…and writing for my websites, taking pictures, talking to The Pros and polishing all three websites adding podcasts and blogs and wait till you see what else I have in store for you…and it is the (not really) worst of times… So…let’s play ball! In
The Real Estate Lady and Condo CanDo in |
Sat, 26 April 2008
April 26, 2008
Our Weekly Wrap by the Numbers Rate of growth for metro area in the 2000’s: 34%
Tony Crumbley, vice president of research for the Chamber of Commerce Economic Development Office thinks a lot of businesses move here for similar reasons, one of the biggest being their desire to build a workforce based on
Lynnsy Logue The Real Estate Lady,Condo CanDo in |
Fri, 25 April 2008
April 25, 2008 Friday is Q/A Day on Condo CanDo’s schedule. Q1. Do you have other links relating to Radon? Complex answer in a way. Foreclosures are just a part of the problem. Lynnsy Logue The Real Estate Lady and Condo CanDo in |
Thu, 24 April 2008
April 24, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in I Believe in Asking for Help As you know by now, I read a lot. I read a lot to learn about the opinions of others, both clear sighted and obtuse. The daily papers, the business journal, the hip-hop weekly, reams of professional newsletters, association magazines, reports from every corner be they mortgage or bank, builder and developer, real estate statistics from around the country and in our own fair city, Charlotte. I read a lot.
This is what I believe. The housing bubble is a mess. The causes are becoming clearer. It seems it was and is a house of cards. I have learned more about foreclosure that I ever would have thought, about the processes and the lack of processes, about short sales, about mortgage brokers and bankers, about abandoned homes, boarded up houses, communities in trouble. People blaming and being blamed. Recently I am reading about how it is a good time for investors to buy because prices are lower and interest rates are lower. Some of the articles are pretty basic. Some of the How To’s are for sale either in book form, or conference calls or DVD’s. And the part of our culture that turns a mess into an opportunity is beginning to take shape. Some will profit from the mess. Some will be scared for a long time. And some will be somewhat unscathed. But we are all feeling the uncertainty. Even me.
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Wed, 23 April 2008
April 23, 2008
I read a good bit to keep up with all the changes all the time. I thought this an interesting article to follow the preceding one on foreclosures. Here goes: Why Lenders Balk at Short Sales Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte,NC |
Tue, 22 April 2008
April 22, 2008 Roberts advises buying a property near your workplace or current home. After looking at several, go with the best deal. “Don’t negotiate with the bank-make an offer and then go dark,? he says. If you buy at auction, the full price is often required at the event, or soon after, so be prepared with the payment. Buying foreclosures is not without risk. “Just because it’s in foreclosure doesn’t mean it’s a bargain,? Roberts says. Things to look out for: Don’t buy in a market with too many foreclosed homes-no more than a few in any area. Also, regular maintenance likely wasn’t done, so there may be substantial costs beyond the purchase price. And don’t trust late night TV gurus-there are scams aplenty. “Many are simply very good sales people who know how to push your buttons to extract a tremendous amount of money out of you,? says Alexis McGee of Foreclosures.com. She lists several well-known schemes on her Web site. “Get a good agent, a good lawyer, good inspector and do your homework,? Roberts says. Then start checking the foreclosure listings.
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Mon, 21 April 2008
April 21, 2008
The EPA estimates 750,000 to 1 million U.S. Homeowners have taken radon-reduction steps over the years and says those steps, along with techniques in new construction have helped prevent 6,000 deaths.
The majority of states have some form of disclosure law requiring the home seller to inform the buyer about property defects, such as radon-but only if the seller knows about them. Many experts believe this discourages testing and say a better model is an
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Sat, 19 April 2008
Saturday April 19, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in Folks, this is a big deal because although the Westside is already perking, this sets the course for major change as Westside goes from warehouses and commercial to multi-use with condos and townhomes. That’s one. All that…and I planted 7 pink dogwoods! All in all, another beautiful week in Charlotte, The Queen City. |
Fri, 18 April 2008
Friday, April 18, 2008 |
Thu, 17 April 2008
April 17, 2008 |
Wed, 16 April 2008
April 16, 2008 • Size: 12-story parking deck to include condos, a restaurant and a green market. • Location: 2-acre site bounded by Fifth, Sixth and • The condos: 88 units, 560 to 960 square feet, priced from the $180,000s to the $280,000s. Green features to include eco-friendly finishes such as cork, recycled glass, bamboo, compact fluorescent lighting, and energy-saver appliances. • The restaurant: Developers are aiming for a health-conscious eatery featuring wholesome dining. • The green market: Developers are working with Charlotte Center City Partners on a year-round market featuring fresh vegetables, fish, meats and dairy products -- all sold by local vendors. • Parking: Condos with balconies would be constructed beside a 1,400-space deck. Glass elevator towers and a helix -shaped parking ramp add artistic elements. • Design: Developers will seek LEED silver certification and include such green features as bicycle storage, showers and changing rooms. • Development team: Spectrum Properties, developer; LS3P Associates Ltd., architect; BE&K Construction, general contractor; Bank of America, lender. • Timetable: Groundbreaking by late June; completion by fourth quarter of 2009. • Information:www.centercitygreen.com. DOUBLE-DUTY DECKS Developers are trying to improve the uptown streetscape by hiding or disguising parking decks. Here are some examples: • This garage and several of its contemporaries helped changed the public's perception of uptown as a giant office park and made it more attractive for the residential resurgence under way in the center city today. • Wachovia created The Green, a lively, 1.5-acre park atop an 860-space parking garage on • Bank of • At other uptown projects constructed since the city adopted screening rules in the 1990s, parking garages such as the one at the 46-story • Wachovia's First Street Campus under construction at Tryon and Stonewall streets conceals about 2,200 parking spaces beneath a 48-story office tower. Doug Smith: Charlotte Observer The full article is on Condo News at www.condocando.com |
Tue, 15 April 2008
April 15, 2008
Thanks for joining us. Remember…read the fine print. All of it.
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Mon, 14 April 2008
April 14, 2008
Now The Charlotte School of Law is becoming visible against the uptown skyline. Motorists can see the four story building marching towards a completion date of August. What is not visible is the financial story. This building is the first
The 100,000 square foot school of law is the first building in a 250 million redevelopment of Radiator Specialty’s 40 acre site as a multi-use project named Bryant Park. This is just the first phase of a broader plan that could have great impact on the area-in transit orientation, green orientation, and mixed-income housing.
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Sat, 12 April 2008
April 12, 2008
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Fri, 11 April 2008
April 11, 2008
Friday: Time for Condo Q and A…
Lynnsy Logue The Real Estate Lady and Condo CanDo in
Legal descriptions define the property. When in doubt, even from MLS data, look in Mecklenburg Polaris for the Unit File number. Unit File is often noted as a U/F. That means condominium. Condominium defines space. Does a condominium require a survey? A townhouse does and it, too, is attached housing. Townhouses come with a footprint and townhouses can be surveyed because a line can be dropped between units. The owner owns the structure and the land beneath it, ergo “footprint?.
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Thu, 10 April 2008
April 10, 2008 Built the first condominium in She was born September 15, 1910 in She went to school in In the late thirties, Otto Smetana opened a new mill in After World War II the hosiery business changed drastically. The stocking that had the seam up the back was called full fashion. Rather than convert the plant to make hosiery as it is today, Otto Smetana sold the mill and retired from the hosiery business. He and Kathryn traveled extensively throughout the Otto and Kathryn built a bowling alley, Park Lanes, near Kathryn got the building bug and decided to build a condo. The plans and specs were started in the late sixties and Gaynor Arms was started in 1970. Kathryn gave thought to every detail including security, storage, elevator, central laundry, clubroom and covered parking. After completing Gaynor Arms, she moved to Kathryn passed away January 23, 1998. A long and cherished friend of Kathryn’s, Al Busedu, was kind to write this story in memory of his friend. Thanks, Al…another Angel!
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Wed, 9 April 2008
April 9, 2008
On Wednesdays we take a trip Around the Town…
More details on each project is featured in the “Condo News? section on www.CondoCanDo.com.
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Tue, 8 April 2008
April 8, 2008 The way to find out if any changes have occurred in the documents is to ask the President of the Condominium Association. Better yet, read them yourself. And it is a wise practice whether new or resale to make sure the purchaser receives a copy of the condominium documents. For instance, when purchasing a condominium years ago at the then brand new 400 N. Church, I read where the parking spaces were leased. Or in the case of The Park still under construction, a purchaser might be interested to know who owns the first level. Or with a complex in Ballantyne long perceived to be completed, another section is being built, this time commercial instead of continuing the residential plan.
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Mon, 7 April 2008
April 7, 2008
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Sat, 5 April 2008
April 5, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo Charlotte NC New statistics reveal the big difference ALLEN You've read that speculators didn't drive up home prices in Here are recent numbers that provide specifics: The National Association of Realtors says investors bought 22 percent of homes sold across the country in 2006. Doesn't seem like a huge difference -- until you consider that's half again as much buying and flipping of houses. The Realtors last week released their annual survey of vacation and investment home buying. Because it's a survey, not a study of buying data, information for specific markets like "Second home owners are not very good at responding to surveys," said Realtors spokesman Walter Malony. "We have to do a lot to get usable samples." But here are interesting tidbits: • Nationally, investors bought 21 percent of homes last year. That doesn't seem like a big drop either -- until you realize that's a share of a down market. Total sales of investment homes fell 18 percent from 2006 to 2007. • The typical investment home cost $150,000 last year. • Most investment homes -- 61 percent -- were single family; 20 percent were condos and 11 percent were townhouses. • Seventy-one percent were existing homes. • Thirty-nine percent were in the suburbs, and 20 percent were in urban areas. The rest were in small towns or rural or resort areas. • The median income of investment home buyers last year was $92,900. All this to say Charlotte did have flipping, did have investors, speculators and as some are prone to say, criminals, but not as many as the rest of the nation. We were more conservative as we are want to be. Thank Heavens. Our market appreciated 1.8.
Lynnsy Logue The REal Estate Lady and Condo CanDo in Charlotte NC |
Fri, 4 April 2008
April 4, 2008
Lynnsy Logue The Real Estate Lady and Condo CanDo in Charlotte, NC On Fridays, Condo CanDo Answers Questions on Condos... Condominium:Architecture or legal description? Condominium" is a legal form of ownership. Many styles of residences (or even business properties) can be condominiums. Condominiums and Co-operatives? Are they alike or different? Condos and Co-ops?Condos and co-ops are different forms of ownership. Condo units are owned individually. Co-ops are owned collectively. Can a Flat be a garden?A garden unit can sometimes be a flat, on one floor, but it always has no one above or below, and is like a little attached house. What's a villa? Another name for condo. Generally speaking. What does U/F mean? "U/F" in the legal description means Unit File. A definite town home clue is: two stories or a survey? Condos can be two or three stories, a house, a garden, an office...a townhome requires a survey. There are many nuances in attached housing including that name "Attached Housing". Condos do not necessarily have to be attached. Townhomes do not necessarily have to be attached. Does it makes a difference? Yes. Perhaps in financing, definitely in insurance, perhaps in maintenance, for sure in maintenance and most assuredly in Home Owner's Dues. If you have a question or a condo subject you would like to know more about, please check-in at CondoCanDo.com...I am listening. Lynnsy Logue The Real Estate Lady and Condo CanDo Charlotte, NC |
Thu, 3 April 2008
April 3, 2008
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Wed, 2 April 2008
April 2, 2008 Lynnsy Logue, The Real Estate Lady® and Condo CanDo® A South End developer has devised an unusual way to lure buyers to his live-work condos: invest money in their businesses. "People are capital starved. Money is as tight as it has ever been," said MECA Properties President Tony Pressley. "What better way to help?" The incentive is being offered at The Abbott Condominiums, whose 16 units are devoted to entrepreneurs seeking to live and work in the same building. Qualified condo buyers will be eligible for a one-time investment of up to $25,000 in their business ventures. There're strings, right? Every potential buyer must submit a complete business plan and professional credentials and be financially qualified to purchase, Pressley said. After that? "I base my decisions more on gut, commitment and track record than credit and collateral," he said. "I'm a 28-year veteran of running my own business." The exact form of the investment, depending on the needs of the buyer, could vary from repayable debt to an ownership stake in the business, he said. Commercial and residential developers typically offer incentives such as interior upgrades, flat-screen TVs or rent concessions to fill their buildings. Pressley, who helped pioneer revitalization in South End, said he came up with this unusual idea himself as a way of "keeping the entrepreneurial spirit alive" and paying forward his success. But he concedes the offer is more than an act of kindness. "I have product. I want to move it sooner rather than later," he said. "I'll do whatever I need to do to generate interest." |
Tue, 1 April 2008
April 1, 2008
Condominium Documents…Important.Important. Important. Can you park your boat and trailer overnight? Does the association draw interest on its reserve account? The Greens are avid gardeners. They find a lovely condo with an enclosed patio perfect for a small garden. After moving in they discover the by-laws strictly limit the type of plants that can be grown because of allergy problems of many of their neighbors. Or
Every Tuesday, our podcast and blog will talk about some of the fine points. On our website www.CondoCanDo we will be publishing Typical Condo docs for your amusement, amazement and need to read lists.
Lynnsy Logue The Real Estate Lady and Condo CanDo in
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