On Thursday April 5th, Focus Residential Group closed the sale of this 3 bedroom, 2 bathroom ranch in south Charlotte.  This home has a large lot, new roof, hardwood floors and a great landscape as you see in the picture.

FRG [...]]]>

SOLD

On Thursday April 5th, Focus Residential Group closed the sale of this 3 bedroom, 2 bathroom ranch in south Charlotte.  This home has a large lot, new roof, hardwood floors and a great landscape as you see in the picture.

FRG represented the buyers in this transaction.  Previously mentioned clients Candice and Dan Lanning of The Beautiful Mess were the purchasers after completing the sale of their other home earlier in the day.

Dual closings are increasingly rare in the current real estate environment.  They’ve always been a little tricky and require a good deal of coordination between agents, attorneys, lenders and clients.

Oftentimes the lender for the purchase transaction is waiting on confirmation and documentation that the buyer’s sale has closed and recorded before they will release funds and paperwork necessary to complete the purchase of the new home.

That was the case in the Spring Valley deal, not to mention the following day was a holiday so if we weren’t successful and on time with everything, the Lannings would have to wait until Monday to close and move in to their new home.

Fortunately, everything went off without a hitch.  They moved in on Friday and immediately began renovations.

Congratulations to them once again.

- Steve

On Thursday April 5th, Focus Residential Group closed the sale of this gorgeous 3 bedroom, 2 bathroom Saussy Burbank built bungalow in a growing area of north Charlotte.

Dan and Candice Lanning of The Beautiful Mess [...]]]>

SOLD

On Thursday April 5th, Focus Residential Group closed the sale of this gorgeous 3 bedroom, 2 bathroom Saussy Burbank built bungalow in a growing area of north Charlotte.

Dan and Candice Lanning of The Beautiful Mess had listed there home 3 times with 3 other companies prior to FRG stepping in and successfully getting it sold.

The home is absolutely immaculate inside and out.  The Lanning’s have outstanding taste and did a fantastic job updating their home.  

This particular area of Charlotte is simply not well known by those in the real estate community.  Hopefully people start to pay attention to it.  Within walking distance to the North Carolina Music Factory and a short drive to Uptown.  (You can see the skyline from Rising Oak’s front porch)

There is a lot of recent activity in this part of town.  The city of Charlotte along with The Housing Partnership has embarked on a large scale redevelopment of the former Double Oaks housing site.  You can read more about it here.

This redevelopment will surely bring more private investment and increasing real estate values.  If you’d like more information please contact me.

Congratulations again to the Lannings!  More on them later…

- Steve

Rehabbed and Tenant Occupied

12% Cash on Cash return

Contact Focus Residential Group for more info.

Charlotte Rental Portfolio

On Friday March 23rd, Focus Residential Group closed the sale of this charming 1920′s era bungalow in Plaza-Midwood.  Located just off Central Avenue, this 3 bedroom, 2 bathroom home is walking distance to one of the most popular business and [...]]]>

SOLD

On Friday March 23rd, Focus Residential Group closed the sale of this charming 1920′s era bungalow in Plaza-Midwood.  Located just off Central Avenue, this 3 bedroom, 2 bathroom home is walking distance to one of the most popular business and entertainment districts in Charlotte.  This home has a professionally landscaped, fenced backyard, a chef’s kitchen with stainless steel appliances, granite counters and a gas range. Large master closet and master bath with waterfall shower.  New plumbing throughout, new electrical and new heat pump.

As any real estate professional will tell you, every transaction is different.  That’s part of the excitement of the job.

I had previously listed this home for sale 2 separate times while working for another brokerage in Charlotte.  Feedback was always very positive, “the home showed great!”  However, we were unsuccessful in getting it sold.  On and off market for roughly 2 years and then leased.  Part of that was due to the recession and the slow real estate market we were mired in.  But additionally, the location of the home did not appeal to the masses.  While I (the sales person) saw an outstanding “walk score”, a popular craftsman style and a home that fit the general push towards in-town, urban living that the city and country favored, many others saw the proximity to Central Avenue as a negative.  That last fact was what prevented us from receiving an offer on the property over the course of 2 listing periods.

Sometimes it just takes the right person (and their agent) and a conversation.

Fast forward to 2 months ago and a cup of coffee at Central Coffee.  The place was full so I sat down next to a woman working on her laptop and talking on her phone.  I couldn’t help but overhear her conversation with a client and I asked if she was a real estate broker as well.  Indeed she was.

I mentioned to her that I was about to bring a great property back on market in March after being tenant occupied for almost 2 years.  Just so happened 1420 Nandina was in a neighborhood that she had a buyer for and the anticipated listing price was in his range.

We arranged a handful of showings with the tenants so the buyer could view the property by himself and then again with his parents (always a good sign).

After a few days of negotiations and some back and forth, we arrived at a price both seller and buyer were happy with.  That brings us back to last Friday when the sale finally closed after 2+ years on my part and never having “hit market” again in March as I had intended.  This time a marketing push simply wasn’t necessary.

Oftentimes I find that I can work and sell and push a property as hard as I can in as many directions as possible and unfortunately nothing sticks.  When all is said and done, having respected relationships within the industry is what you need.  And sometimes talking to the right agent at the right time is all it takes to get a home sold.

- Steve

I would like to extend you a personal invitation to be a guest at our upcoming Real Estate Buyers Forum on March 13th in Charlotte, NC.

The main presenter will be Gideon Pfeffer, Managing Partner of Precise Properties, a global U.S. Real Estate Development firm.

Whether you are interested in buying property yourself, becoming [...]]]>  

The building shows little signs of damage from the elements as it stood incomplete and wide [...]]]> Last night I was fortunate enough to be invited to a hardhat tour of Skye condos in uptown Charlotte.  The project is in mid-construction but moving along well with a projected completion date of August 2013.

The building shows little signs of damage from the elements as it stood incomplete and wide open for more than a year when it was slated to be The Park condos.

Residential floors begin on 14 and continue to the top where you will ultimately find a hip and stylish restaurant, lounge and pool deck.  Restaurateurs from Miami and New York have apparently shown interest in the rooftop space. Here’s hoping they bring a creative flair to this new signature building in Charlotte.

Here’s a picture of where the bar will be located.

Steel beams have gone up, framing what will be each individual floor plan.  It’s very unique seeing a building before walls are put in.

You have a sense of the layout but can only really speculate. However, you can easily see the balconies will be quite large and the views of uptown are outstanding.  The building sets back a few blocks from the main cluster of high rises so you can fully soak everything in.

Prices start in the mid $200s for an 800 sqft 1 bedroom and all the way up to $2mm+ for penthouse units.  Larger condos will be 2 bedroom/2 bathroom, some including a den.

Contact me for more info and to arrange a meeting at the sales center.

7830 Lobilia Ln is a 3 bed/2 bath ranch with roughly a quarter acre of land.  Fully fenced in with a separate storage shed, this home is great for a family that wants room to spread out and enjoy [...]]]> Precise Associates closed on their purchase of a great property in west Charlotte.

7830 Lobilia Ln is a 3 bed/2 bath ranch with roughly a quarter acre of land.  Fully fenced in with a separate storage shed, this home is great for a family that wants room to spread out and enjoy the outdoors.  Quiet and mature neighborhood.

After some light rehab work, 7830 Lobilia will be available to rent for $825 per month.  Please contact Ken Greene at Stikeleather Realty for further rental information 704.537.3900

Investment properties like this that offer outstanding cash flow are abundant in the Charlotte market right now.  Contact Focus Residential Group today for further information on how you can diversify your portfolio with rental property.

The SKYE Condos will consist of 67 for sale units and 172 hotel rooms operated by Hyatt.  Condos range from 800 to 3,800 square feet and I understand prices may start around $180,000.

Buyers can expect a significant number of amenities including [...]]]> SKYE Condos scheduled

The SKYE Condos will consist of 67 for sale units and 172 hotel rooms operated by Hyatt.  Condos range from 800 to 3,800 square feet and I understand prices may start around $180,000.

Buyers can expect a significant number of amenities including a pool, gym and valet service which are typical of hotels.  Where Skye Condos will differentiate is the rooftop.  It will feature an 8,000 square foot restaurant on the 21^st floor where one can enjoy dining al fresco and view the stunning Charlotte skyline.  This rooftop space was the inspiration for the name.

Some may recall this building was formerly proposed as The Park during the condo boom.  Its demise is well documented.

Small Brothers is the new owner and will see this project to fruition.  Hopefully in time for the Democratic National Convention.

SKYE Condos is being sold by The McDevitt Agency.  Anticipated completion – August 2013.

Contact me for more information on SKYE Condos

I understand confidence in real estate is low right now but what is everyone waiting on?

Do housing prices have to increase?  Interest rates, do we want them to rise?  Will the media tell you when it’s ok to buy?

This waiting game goes against the most basic principle [...]]]>

I understand confidence in real estate is low right now but what is everyone waiting on?

Do housing prices have to increase?  Interest rates, do we want them to rise?  Will the media tell you when it’s ok to buy?

This waiting game goes against the most basic principle in business and investing.  Buy low, sell high.

We are sitting at a remarkable point in the real estate market.  Those that are taking advantage will look back and smile.

The rest, who wait, will be kicking themselves in a few years as they think what could have been.

Why wait?