Real Estate Information

April is drawing near. April in Charlotte NC means many things. It means that all of our fantastic trees that line our streets began to bloom, Freedom Park is full of people enjoying the outdoors and Charlotte Knights baseball is getting cranked-up to name a few. In the medical community, it means that the new doctors are moving to Charlotte and will be entering the Carolinas Medical Center (CMC) residency program. With the matching process having begun and matching results being given on March 15^th it’s an exciting time for doctors entering the next level of their professional careers.  I personally look forward to this time of year as I help incoming medical residents locate housing. Whether they are looking for a 1 bedroom rental within walking distance to CMC or a 4 bedroom 3 bath 2 story in the Southpark area, I’ve always prided myself withan ability to help incoming medical residents to find the perfect place to live. With so many properties available in Dilworth, Myers Park, South End, residents will fine many housing options to choose from nearby should the choose.

As an approved Realtor for Carolinas Medical Center, I’ve been helping incoming residents locate suitable housing here in Charlotte for 13 years. Some of the neighborhoods my clients have chosen in the past are Dilworth, Myers Park, Southpark, Cotswold, Cameron Wood, Madison Park, Montclaire, Selwyn Farms, Beverly Woods and Seidgefield. I always recommend to my medical resident clients that the location where they live is hugely important to consider in their search for housing. I know this for 2 reasons. 1. I’ve helped many medical residents find homes through the years. 2. My wife was a medical resident at CMC and I know first hand how important proximity and commute time is to doctors entering the medical resident program at Carolinas Medical Center. For those new doctors looking to purchase a home or condo, it’s very important that the seek financing for their purchase from an institution that offers a doctors loan program. An approved doctor’s loan will enable the resident to procure the best rate possible as well as reduce the amount of down payment or eliminate the need for down payment all together. The doctors loan program that I recommend is 100% financing with no mortgage insurance.  As many  changes have taken place in the mortgage industry, not all banks offer the true doctor loan programs. There are a few mortgage professionals that I recommend locally as they have successfully helped my medical resident clients in the past and continue to have my none resident doctor clients on an ongoing basis.

 Here are a few client testimonials.

  "Residency is an exciting time in our lives. It is filled with excitement and uncertainty. It is the time most of us buy our first home, which may be the biggest decision we have made up to this point in our lives. My wife and I had very little knowledge about real estate. Buying and selling homes was foreign soil for us. However, we were fortunate to find Scott Pridemore. He listened to our needs and wants, and he compiled a list of properties that we might want to see. He did not pressure us to see homes that did not fit our description. He pointed out flaws that certain properties had and reasons certain homes might be better than others. He was informativeyet not overbearing. He introduced us to the city of Charlotte: places to eat, activities to do, and events to attend. When we found the home that we wanted, he really worked to get the price and conditions that we desired. He was a pleasure to work with, pleasant to spend time withand a friend from the first moment that we met him. Buying a home was a pleasant and rewarding experience with him and I would recommend him highly to anyone looking to buy a home."

Sincerely, Lisa & Eric Marsh MD
(Southpark)

" It is with great pleasure that I write this letter about how Scott Pridemore made finding, negotiating/bidding, and purchasing my first home such a pleasurable and care free experience.

I received many letters from various real estate brokers in Charlotte, but choosing Scott was no contest. His wife, Laura, had recently been through the Pediatric Residency Program at CMC, which meant that not only was Scott familiar with the different areas in which other residents were living, but he was also well aware of the insane hours that we have to face.

When I initially called Scott, I requested the impossible - a new, 2 bedroom, 2 bathroom condo in Myers Park which would be affordable on a resident's salary. Instead of politely telling me I was crazy, a couple of days later, Scott had compiled a list of condos and took me around to show me what was available in my price range. Some of the places we saw came close to meeting most of my requirements, but one was absolutely perfect.

Considering I was completely new to purchasing real estate, having rented my whole life, Scott took the time to answer my questions, explain the details, and made the entire process simple and enjoyable. He was always very responsive, willing to go the extra steps and constantly showed his dedication to me as a client. For example, the day the bids for the condos were to be opened and the new owner's names announced, not only did Scott make sure we were the first people there, but he stayed with me throughout the whole 6+ hour day, until the final announcement was made and I indeed had gotten the condo I wanted.

Even after that, he continued to go to bat for me, from scheduling the walk-troughs’ to working around my crazy hours as a resident, to providing valuable information on the hot spots in the area, Scott never failed to add the additional personal touches. I would definitely and strongly recommend him and his real estate services to anyone moving to the Charlotte area."

Sincerely, Jennifer Michalec MD
(Myers Park)

Dear Scott,

     Thank you so much for all of your time and effort in helping us find the perfect home here in Charlotte. We couldn't have asked for a more outstanding person to introduce us to the city and the (many) neighborhoods we explored. We're also very grateful for all of the advice, contacts, excellent restaurant recommendations (and very generous gift card) you've given to us. Looking forward to meeting the rest of your family and seeing you at all of the upcoming CMC parties!

Sincerely,

 Kate and Mark

(South Charlotte)

"Scott was excellent at keeping us informed at every stage of the process, no matter the issue. He also went to bat for us during the inspection negotiations more so than any previous agent.

This was our 4th home purchase, and Scott was by far the best at all levels. He was the 1st agent we had that we felt truly represented our interest first and foremost. His communication at all stages was excellent, as was his availability. We highly recommend him."

Dave & Tammy Priest, Southpark

When the First Time Home Buyer Tax credit was extended and expanded most people thought the expansion was only for home owners who wanted to move up, those who wished to buy a bigger, more expensive home.  In fact, the expansion simply includes those who have owned a primary residence and lived in it for at least five years consecutive years out of the last eight years.  If current home owners in Charlotte, NC want to downsize they can use the tax credit toward their new home, regardless of whether it costs less than the home that they are selling, regardless of whether it is a smaller home than the one that they are selling.

It is an anomaly that everyone assumes the tax credit is only for purchasing bigger and better.  Many people, especially those whose children have grown and left the nest, want to downsize.  After-all, who doesn’t want to enjoy Charlotte to the fullest and make life simpler these days?

If you have been considering selling your home in Cotswold, Myers Park or any of the amazing Charlotte neighborhoods and moving into a smaller space, consider doing so before the tax credit expires.  Place your new Charlotte home under contract by April 30th and close by June 30th and you could have a few extra dollars in your pocket in 2010.

Plaza-Midwood was established in the early 1900's and the neighborhood was supposed to be Charlotte's next Myers Park. Developed during 1910's and 20's and designed around a trolley line running from the downtown area, Plaza-Midwood is a mix of home styles because various interested groups created several disparate developments based upon the economy at the time. These small neighborhoods eventually expanded to compose all the homes in the Plaza-Midwood neighborhood today in the Charlotte, NC real estate market.

Those early fluctuating economic conditions and conflicting developer visions created the most eclectic of Charlotte's local historic districts. Designated a historic district in 1992, Midwood blends traditional and modern with new home construction replicating the past. Large craftsman bungalows lining The Plaza, a tree-lined boulevard that divides this neighborhood north to south from Central Avenue to its intersection with Parkwood Avenue, were built before quaint cottages were developed after the war.

Adjacent to one of America’s premier malls, South Park Mall, the homes in Barclay Downs make it a vibrant community. A key draw for this neighborhood, consisting of over 400 homes, is the proximity to award winning public schools that are within walking distance. The Myers Park High School campus is very popular with parents and in the summer, kids love to play in the refreshing pool of the Barclay Downs Swim and Racquet Club. Barclay Downs homes are in the following school districts: Selwyn Elementary School,  Alexander Graham Middle School and Myers Park High School. With this great location it is a significant reason why families continue to move into the popular Barclay Downs neighborhood of the impressive Charlotte, NC real estate available.

Charlotte’s Historic South End is the new eco-chic urban neighborhood in Charlotte, North Carolina. Only minutes to homes near Uptown, NoDa and Dilworth, The LYNX light rail train runs through the heart of South End and the district’s four train stations put you only steps away from home in South End or other destination. With an wide assortment of residential options, there are unique restaurants and night spots, eclectic retail shops, thriving businesses, plus spectacular arts and cultural venues.

South End, with its restored mill buildings and warehouses, is a model of urban redevelopment, with contemporary housing, shops, entertainment, and art galleries. Established around the thriving textile industries in the 1890s, this community – immediately south of Uptown – sprouted up along the tracks running through its center South End flourished for many years. As families moved to the outer suburbs from Charlotte’s Center City, the neighborhood experienced a decline in ‘70s. The neighborhood and homes in the South End underwent a dramatic revitalization in the 1990s and reemerged as one of the city's fastest growing neighborhoods in the Charlotte, NC real estate market today.

Top 10 Cities Where It's Smarter to Buy than to Rent.

For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.

To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.

Here are the top 10 cities the magazine chose as the best places to buy right now.

1. Boston-Cambridge-Quincy, Mass.
2. Charlotte-Gastonia-Concord, N.C
3. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
4. Cincinnati-Middletown, Ohio-Ky.-Ind.
5. Denver-Aurora-Broomfield, Colo
6. Minneapolis-St. Paul-Bloomington, Minn.-Wis.
7. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
8. Portland-Vancouver-Beaverton, Ore.-Wash.
9. San Francisco-Oakland-Fremont, Calif.
10. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

Source: Forbes, Francesca Levy (01/21/2010)

Follow this link to read the full article Forbes.com. Click Here

Scott A. Pridemore, Realtor

704-562-0792

Maintaining a strong residential character Eastover neighborhood has distinct, large, upscale single-family residences. East across Providence Road from the homes in Myers Park, Eastover is located southeast of Uptown Charlotte and is 10 minutes away from Charlotte’s center city.

A breathtaking area – having the wide, tree-lined winding Cherokee Road serving as the centerpiece – the homes in Eastover offer a broad range of styles and beautiful setting with its gently curving thoroughfare. Built in the early part of the 20th century, the Eastover neighborhood architecture is Georgian primarily with some Tudor Revival as well. Many of these homes have been restored to their original grandeur with renovations. Ranging in price from $300,000 for 1,300 square-foot bungalows up to over $4 million for a 7,000-plus square-foot home, the Eastover neighborhood is in high demand.

Keeping the character intact and maintaining the history for many of Charlotte’s older neighborhoods are important to homeowners. In the Charlotte, North Carolina real estate market, the Historic District Commission established five neighborhoods as local historic districts. Working with both property owners and businesses in these specific neighborhoods –  Dilworth, Fourth Ward, Plaza-Midwood, Wesley Heights and Hermitage Court – they came up with ideas to preserve the character and feel of each.

Any exterior renovations to homes in these Charlotte neighborhoods now need to be approved by the commission. In this way it guarantees renovation and development maintains a consistency with the neighborhood’s character. The importance of the character and history of the city’s older neighborhoods is significant when considering property values of homes in these communities. As an experienced real estate agent, Scott Pridemore can help you find a new home or sell your existing home in the Charlotte real estate market.

The Dilworth Home Tour in 2009 had the typical diverse mixture of homes to captivate a wide range of people and provide an enjoyable experience to all. Over the past 10-15 years there has been a rebirth in the community, coupled with growth from renovations, to help the Dilworth neighborhood. With its strong community, the Dilworth Community Development Association (DCDA) and its proximity to Uptown, the property values had benefited greatly in the long term.

Featuring new homes and older, traditional homes, the home tour demonstrates a broad spectrum of home styles. Elegantly preserved historic homes show it is possible to combine modern interior adaptations and renovations to traditional homes. The historic architecture does not necessarily indicate the need to sacrifice features or contemporary styles. Furthermore, with the state tax credit of 30% for qualifying rehabilitations of homes in Dilworth those of which are non-income-producing historic structures, including owner-occupied personal residences. See a list of the places on the tour for the 38th annual Dilworth Home Tour or purchase 2010 tickets.

The Arts District homes near Charlotte’s city center are ideally located and the neighborhood has an eclectic character. Historic mills have been transformed into wonderful lofts and apartments while run-down industrial parcels have become sites for new townhomes and single-family homes. Walking along North Davidson Street, which runs through the neighborhood’s center, one will find several art galleries – giving the The Historic North Davidson Arts District its name.

Commonly referred to as NoDa, short for North Davidson Street, there are a plethora of locally owned and operated restaurants. People repeatedly return to visit these fantastic establishments like Boudreaux’s Bayou Cuisine, Cabo Fish Taco, and the Smelly Cat coffeehouse. An additional attraction with wide-ranging musical styles and talent from across the country is the Neighborhood Theatre. Check out this neighborhood in Charlotte with a distinctive flair where Arts District homes range from $125,000 for a loft to $550,000 for a renovated home.