Real Estate News
“The Lowcountry really does have a slow, relaxed pace of living and a stress-free lifestyle that speaks to a lot of people.”
C H A R L O T T E
home design
page 2
dedicated to showcasing charlotte’s distinctive homes
– Ken Willis, Berkshire Hathaway HomeServices Bay Street Realty Group
Lowcountry living Get high on life in South Carolina’s Lowcountry
- story on page 4
real estate news What’s new p2
design instyle Venice p10
real estate trends Buying a second home p14
straight talk Old vs. new p19
SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
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|real estate news
what’s new? compiled by Whitney Berongi
MATTAMY NOW SELLING IN NEW INDIAN TRAIL COMMUNITY Mattamy Homes recently announced Braeburn, an affordable Union County community offering single-family homes in Indian Trail. Braeburn features Mattamy’s distinctive streetscapes, thoughtful architectural details and superior standard finishes in the Classic Series of homes featuring ranch, owner’s-down and two-story homes designs. Ranging from 1,729 to 3,540 square feet, homes in Braeburn are priced from the $270,000s and are available to purchase by appointment. The Parker and Amelia model homes are currently under construction. Community amenities in Braeburn will include a future swimming pool, cabana, playground and walking trails. Residents will enjoy nearby shopping, entertainment and restaurants as well as easy access to Charlotte, Matthews and Monroe with nearby I-485 and the new Monroe Bypass. To plan a tour, call 704810-1321 or email Whittie.KatieF@mattamycorp.com. M/I HOMES OPENS MODEL HOME IN INDIAN LAND’S COVINGTON COMMUNITY M/I Homes’ new model home is now open in the Covington community in Indian Land. The model home plan, the Wilson II, is one of eight plans available at Covington. With up to six bedrooms and five bathrooms, the Wilson II features a covered porch, a formal dining room with tray ceiling and a stone fireplace in the
den. A split-level stairway leads to a second floor with owner’s suite, additional bedrooms and optional flex space for a bonus room. Homebuyers at Covington can choose from ranch and two-story plans ranging from 2,000 to 3,736 square feet and starting in the $330,000s. M/I is debuting several new ranch plans in this community, and when homebuyers choose a move-in ready home they’ll be able to close before the end of the year. The master-planned community features a pool and cabana. Covington is just a short drive from the restaurants and shops at Ballantyne Village and Blakeney. Other nearby amenities include Anne Springs Close Greenway, Andrew Jackson State Park and Ballantyne Country Club. Find out more at SalesCharlotte@ mihomes.com, mihomes.com/covington or by calling 704-286-6498. STAGE IT! CHARLOTTE HONORED WITH THE TRIFECTA OF HOME STAGING INDUSTRY AWARDS Stage It! Charlotte received three prestigious Home Staging Industry Awards in July for staging excellence, client care excellence and industry leadership. The awards were presented by stagedhomes.com, an internationally-recognized home staging training company. Stage It! has been providing staging, renovation and design services to clients in Charlotte and the surrounding areas for over 15 years. From luxe to farmhouse, its expansive warehouses hold a diverse range of furniture and accessories, allowing the team to showcase each space in a broad range of styles. Call 704-847-3771, email Info@stageitcharlotte.com or visit stageitcharlotte.com to learn more. Email real estate news to homedesign@charlotteobserver.com. C H A R L O T T E
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*Copyright 2019 by The Charlotte Observer. All rights reserved. No part of this publication may be reproduced or reprinted without written permission.
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|living in the Lowcountry
DID YOU KNOW? Ever wonder why some porch ceilings in the Lowcountry are painted a soft blue color? In South Carolina’s Gullah culture, this shade known as “haint blue” is believed to ward off evil spirits.
by Julie Cooper
EAT
A Lowcountry Backyard Restaurant Head to this local Hilton Head Island gem for classic Lowcountry eats like potatochip meatloaf and shrimp and grits in a friendly, downhome atmosphere. hhbackyard.com
PLAY
May River Rent a kayak for a sunset tour, head out on a fishing charter or paddleboard with dolphins on this beautiful river that winds through Bluffton’s Old Town area. hiltonheadisland.org
EXPLORE
Daufuskie Island Located south of Hilton Head, take your adventure to this historic island, accessible only by boat, to discover one of the last bastions of the Gullah culture. daufuskieisland.com
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rom the serene, family-friendly beach town of Edisto Beach south along the coast to historic Beaufort, Port Royal, Parris Island, Bluffton and down to Hilton Head Island, South Carolina’s Lowcountry is a special place that can’t be missed. Whether collecting seashells on the shore, watching bottlenose dolphins play in the surf, tackling a round of golf or indulging in the mouthwatering Lowcountry cuisine, there’s always so much to do in this iconic stretch of Carolina coastline. “Living in our beautiful Lowcountry is like waking each day to a new canvas of nature’s beautiful gifts,” says Judy Collins with Celia Dunn Sotheby’s International Realty, who moved to the area eight years ago from “up north” in Atlanta. “We have century-old oak trees draped with Spanish moss, blue herons and snowy egrets nesting in the trees that decorate the banks of our rivers and beautiful beaches for building sandcastles. To live here is like a reward.” It may be hard to believe, but the picturesque landscape is only a fraction of the Lowcountry’s appeal. “Our area is a top choice for relocation thanks to our ideal climate—no snow or ice—tax rates, reasonable cost of living and tremendous golf opportunities,” Collins says. “Our
‘golf mecca’ here is heaven on earth for golfers. And, the local cuisine is out of this world.” While the area is full of character and charm, Collins says it’s the people who make it stand out the most. “The personality of the Lowcountry is found in its people. It’s the legacy of families who have created the peaceful atmosphere and way of living that’s become the standard by which all the residents of the Lowcountry abide,” she explains. “It doesn’t matter where you come from, what you did in your previous life or how much money you have, people choose our area as it truly is a state of mind.” “The Lowcountry really does have a slow, relaxed pace of living and a stress-free lifestyle that speaks to a lot of people,” chimes in Ken Willis with Berkshire Hathaway HomeServices Bay Street Realty Group, adding that the iconic architecture mimics the area’s laidback appeal. “Homes here have an air of elegance, natural beauty and historic charm. Many of them feature large windows, screened porches and wide, wraparound front porches perfect for sitting out on a sunny day with a glass of sweet tea.” When it comes to real estate in the Lowcountry, Edward Dukes with Lowcountry Real Estate says great
SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
bargains can still be found. “You can get a deal on deep-water and marsh-front lots since some of those prices have not fully recovered from the recession,” he explains. “But there are only so many, and supply and demand come into effect. If you really want Lowcountry living at its best, head to Beaufort and the surrounding sea islands. The area has taken great care to maintain its antebellum architecture, history and small-town atmosphere.” As for new developments, the Lowcountry is seeing plenty. “There’s an exciting new concept called the ‘lock and leave’ being developed at Coosaw Point,” Willis says. “It’s a 400-acre riverfront Ideal Living community on Lady’s Island in Beaufort. Beyond that, whether you’re looking for a golf course community, marsh front, deep water or oceanfront home, there’s a spot for everyone in the Lowcountry of South Carolina.” With everything it offers, it’s not surprising that the real estate market is hotter than ever. “In Hilton Head, Bluffton and Beaufort, the market continues to surpass market standards,” says Collins. “The Lowcountry offers a lifestyle conducive to retirement or an ideal place to work from home, so our market is always strong. It’s a wonderful place to live and call home.”
living in the Lowcountry| HARBOR ISLAND 27 Ocean Marsh Lane, Saint Helena Island, SC 29920 Price: $375,000 MLS: 162325 Listing Agent: Amada Slade, Berkshire Hathaway Bay Street Realty Group, 843476-1104, amada@baystreetrealtygroup.com
Step inside this renovated one-level beach home and enjoy unobstructed ocean and marsh views. Exterior boasts new roof, new hardiplank siding, new windows and landscaping. Master with walk-in shower, sliding glass barn-style door and magnificent ocean views. Kitchen with sea glass counters, new gray steel appliances and updated cabinetry. New sliding doors flank the stone-style fireplace. Harbor Island is a unique island paradise that offers peace and tranquility, stunning scenery and amazing protected wildlife. Ocean Marsh is a peaceful community just a short golf cart ride away from the beach club where you can enjoy the pool, tennis courts and clubhouse.
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|living in the Lowcountry OKATIE 18 Cedar Point, Okatie, SC 29909 Price: $1,975,000 MLS: 395503 Listing Agents: Judy Collins, 912-507-4666, judy.collins@sothebysrealty.com; Mary Jeans Otto, 843-441-7011, mary.jeansotto@ sothebysrealty.com; Celia Dunn Sotheby’s International Realty
The ultimate in style, luxury and tranquil living, this home behind the gates of Chechessee Creek Club, with its panoramic views, is a sanctuary for those seeking a refuge for golf and waterfront living. Nestled on two riverfront bluff lots and defined by quality craftsmanship, this cottage boasts expansive verandas and a screened porch with a fireplace. Master suite on main, two guest suites on second floor and space for a suite over garage.
SHELDON 627 Paige Point Road, Sheldon, SC 29940 Price: $1,229,000 MLS: 396571 Listing Agents: Judy Collins, 912-507-4666, judy.collins@sothebysrealty.com; Mary Jeans Otto, 843-441-7011, mary.jeansotto@ sothebysrealty.com; Celia Dunn Sotheby’s International Realty
Perfectly situated just outside historic Beaufort, the quiet community of Sheldon boasts oak tree lined roads that lead to riverfront sanctuaries. This amazing Cape Cod style home sits creek-front on 5 acres with century-old oaks. Beautifully sited on the bluff of Huspah Creek, a living archway guides you to the rocking chair front porch, brick patios and decks where adirondack chairs await. Recapture life at the end of a deep water dock where kayaks, canoes and boating await your adventure.
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SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
Bluffton ~ 15 Pondhawk Road 5BD, 4.5BA | 4,755 SQFT | $999,000
Bluffton ~ 23 Carrier Bluff 3BD, 3.5BA | 3,571 SQFT | $999,999
Okatie ~ 18 Cedar Point 3BD, 3.5BA | 4,100 SQFT | $1,975,000
Sheldon ~ 627 Paige Point Road 4BD, 2.5BA | 3,000 SQFT | $1,229,000
Bluffton ~ 350 Bamberg Drive 4BD, 4-Full & 3 Half BA | 7,300 SQFT | $1,495,000
Hilton Head Island ~ 31 Big Oak Street NW 4BD, 3.5BA | 3,000 SQFT | $1,199,000
Judy Collins
Real Estate Professional 912.507.4666 843.836.3900 Judy.Collins@SothebysRealty.com
Bluffton ~ 20 Carrier Bluff 5BD,6-Full&2HalfBA|6,521SQFT|$1,499,999
Bluffton ~ 45 Farnsleigh Avenue 3BD, 2BA | 2,927 SQFT | $629,000
HiltonHeadIsland~15NorthForestBeachDriveN 7BD, 5.5BA | 3,840 SQFT | $1,399,000
Proudly representing fine homes in the Lowcountry 49 Boundary Street Bluffton, South Carolina, 29910 Bluffton ~ 37 Sedgwick Avenue 3BD, 3.5BA | 2,563 SQFT | $389,900
Bluffton ~ 42 Sedgwick Avenue 3BD, 2.5BA | 2,563 SQFT | $409,000
Bluffton ~ 9 Rice Mill Road 4BD, 4.5BA | 4,186 SQFT | $875,000
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www.CeliaDunnSIR.com
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|living in the Lowcountry BEAUFORT 1113 Craven Street, Beaufort, SC 29902 Price: $1,795,000 MLS: 209379 Listing Agent: Will Thurman, Berkshire Hathaway Bay Street Realty Group, 864337-4089, will@baystreetrealtygroup.com
Moss-draped oaks and grand Southern homes rich in history line the streets of the Historic Landmark District in Beaufort. One of the finest and most notable homes is the Milton Maxcy House, also referred to as Secession House. Originally built by Milton Maxcy in 1810 as a school for boys, this home was later purchased in the 1840s by Edmund Rhett, brother of U.S. Senator Robert Barnwell Rhett. The first meeting in favor of secession from the Union took place here. During the Civil War, the home served many purposes from officers’ quarters, a hospital and as a Pay Master’s Station for Union Troops. Edmund Rhett completely remodeled the home in a Greek revival architectural style.
BEAUFORT 228 Green Winged Teal Drive S, Beaufort, SC 29907 Price: $760,000 MLS: 163154 Listing Agents: Annette Bryant, 843-9296834, annette@baystreetrealtygroup.com; Julianne Steinmetz, 843-929-6834,Julianne@ baystreetrealtygroup.com; Berkshire Hathaway Bay Street Realty Group
Set under majestic oaks on a tidal creek in Beaufort, this home boasts elegance and Southern charm. Features include cherry wood floors and floor-to-ceiling windows in the great room. First-floor owners’ suite with entry to rear porch, a custom tile shower and huge walk-in closet. Upstairs, twin suites contain full tile baths. Storage galore with room to park three cars and a boat, plus a workshop, in-home gym and storage room at garage level. Expansive porches in front and rear. Private dock and boat lift. Wholehouse generator. Home is constructed with Polysteel/Concrete Form (ICF) construction. Low utilities and ultra strong against storms.
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SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
LIVE BEAUFORT AND THE SEA ISLANDS
BEAUFORT ~ 9 ASSEMBLY ROW
BEAUFORT ~ 228 GREEN WINGED TEAL S DRIVE
DATAW ISLAND ~ 18 SPARROW NEST POINT
FRIPP ISLAND ~ 135 OCEAN CREEK BLVD
FRIPP ISLAND ~ 702 WHITING ROAD
SAINT HELENA ISLAND ~ 112 FRONT STREET
DATAW ISLAND ~ 147 DATAW DRIVE
HARBOR ISLAND ~ 2 SAND DOLLAR COURT
FRIPP ISLAND ~ 16 FIDDLERS TRACE
DATAW ISLAND ~ 135 DATAW DRIVE
FRIPP ISLAND ~ 843 BONITO DRIVE
BEAUFORT ~ 403 BRICKYARD POINT S ROAD
MLS# 162321 | 3BD, 3.5BA | 2,884 SQFT $562,770 Ed Kaylor 843-224-3770
MLS# 163154 | 4BD, 3.5BA | 3,257 SQFT $760,000 Annette Bryant 843-929-6834
MLS# 161719 | 4BD, 4BA | 3,364 SQFT $920,000 Jennifer Helms 843-263-5962
MLS# 157133 | 3BD, 3BA | 2,650 SQFT $595,000 Todd McDaniel 843-263-1906
MLS# 159335 | 3BD, 3.5BA | 2,800 SQFT $799,999 Annette Bryant 843-929-6834
MLS# 161159 | 4BD, 4BA | 3,400 SQFT $860,000 Lee Gray 843-252-3006
701 Bay Street Beaufort, South Carolina 29902
843-301-0013
MLS# 159097 | 4BD, 3.5BA | 3,096 SQFT $800,000 Annette Bryant 843-929-6834
MLS# 162281 | 3BD, 3BA | 3,701 SQFT $750,000 Annette Bryant 843-929-6834
MLS# 161954 | 4BD, 3BA | 2,912 SQFT $593,000 Carole Fahey 843-263-2737
2 Harbor Drive Harbor Island, SC 29920
843-838-3004
MLS# 162689 | 3BD, 3BA | 2,213 SQFT $599,000 Jennifer Helms 843-263-5962
MLS# 152456 | 5BD, 3.1BA | 2,378 SQFT $499,999 Mike Lewis 843-271-4979
MLS# 160197 | 4BD, 3.5BA | 3,252 SQFT $895,000 Todd McDaniel 843-263-1906
121 Dataw Drive Dataw Island, SC 29920
843-301-0013
info@baystreetrealtygroup.com
www.BayStreetRealtyGroup.com SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
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|design instyle
The Grand Canal in Venice.
Venice
Finding charm and reprieve among the romantic streets and canals of this famous Italian city by Vicki Payne
I
f there’s one thing I enjoy most about visiting Venice, it’s taking friends there with me for the first time. After a week in Tuscany, our good friends Barbara and Ken Kopald joined my husband Jerry and I for three days in Venice. European trains are easy and economical—a great way to
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get around Italy. We caught a morning train to Venice. A nice three-hour trip and we arrived at the Venice train station. It is centrally located near the water taxis and public water transportation. Every time I see Venice it’s like the first time—I am always
SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
St. Mark’s Square
amazed that a city this size and buildings this massive can be built on the water. The water canals are brimming with tourists and commerce just like other city streets, except here everything moves by foot or boat. You can easily walk to any location in Venice, but it is much faster by water taxi. The boats are beautiful mahogany open air vessels. You can’t help but feel like one of the “rich and famous” riding on the back of the boat cruising down the Grand Canal to your hotel. We stayed at the Gritti Palace. It is in
the heart of Venice, in San Marco, right on the Grand Canal and only minutes by foot from Musica a Palazzo and Saint Mark’s Basilica. On our first afternoon, we toured St. Mark’s Square and enjoyed wandering down little streets and over dozens of bridges, pausing to take photos of iconic gondolas that drift down the small canals while the gondolier serenades its passengers with beautiful Italian melodies. It’s a must-do for first timers. Expect to spend 80 euros for a 40-minute daytime ride and 100 euros after 7 p.m.
Musician warming up for dueling cafés in St. Mark’s Square.
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You
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Gondolas cruise the small canals that run throughout Venice.
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1000 Village Harbor Dr Lake Wylie, South Carolina
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You 3450 CENTER RD. Elegant Country estate on 37 acres on Turkey Creek with a pond, Wow workshop/garage and barn. $400,000
VOLUNTEER • DONATE • SHOP 4084 Charlotte Hwy., Clover, SC 29710 (803) 324-1960
(10)1+ACRE Neighborhood Lots Blacksburg $13,000 each 3125 LESSLIE HWY Rock Hill 2 acre zoned UD $85,000 3004 ASHWOOD PARK DR. .76 ac Belmont's Reflection Point $40,000 105 LAKE MIST 1.38 ac Belmont $30,000 2.15 ACRE WOODED LOT Brightwood, York $35,000 22 ACRES FILBERT HWY, Clover zoned Business front. Residential back $285,000 CAROBROOK NEIGHBORHOOD in Fort Lawn (2) lots water/sewer available $7500 each PINE MOSS 4 WATERFRONT LOTS on Lake Wylie, 3 with docks, 1 with dock permit. 1.6-3.8 Acres $258-450,000 3 ACRES NEELY RD in Clover with gorgeous pond $60,000
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The first night I’m in a new city, I always like to have dinner at the hotel where we are staying. The outdoor dining room at the Gritti Palace has the most fantastic view in the city, looking over the Canal at Santa Maria della Salute. It makes dining a remarkable experience. Jerry and I shared the sea bass. Imagine our surprise when they presented us with the whole fish—it was huge. I’m grateful they did all the deboning and serving. It was wonderful. The next day we visited the Jewish Ghetto (Campo del Ghetto). It was
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made famous by Shakespeare’s Merchant of Venice. It is the oldest Jewish ghetto in Italy and home to five historic synagogues, the Jewish museum, a small Holocaust memorial and kosher restaurants and bakeries. The entrance is not well marked, so look for an old wooden doorway with Hebrew etched across the threshold. We were up for some Hollywood star treatment so we skipped the gondola ride and chartered a boat. The cost was less than a group Canal tour. The sleek wooden boat
had plush leather, open-air seating and Maurizio, our private driver. We brought wine, he provided the ice bucket and we cruised the canals and islands for two wonderful hours. Dinner that night was at the Monaco & Grand Canal. There is an abundance of fish dishes in Venice, due to its location on the Adriatic Sea. The preparation is simple—season fish with olive oil, vinegar, garlic and herbs. If fish isn’t your preference, there are plenty of delicious dishes of gnocchi, risotto and bigoli—similar to spaghetti except slightly thicker and with a small hole in the middle. It is made from whole wheat flour. Our third day in Venice was dedicated to a cooking class at Acquolina with Chef Marika Contaldo Seguso. This was the second time we’ve attended her class at her beautiful restored villa on the island of Lido, located a short 20-minute ferry ride from our hotel. Of course, being in Venice we chose Marika’s Fish, Fish, Fish class. We
cooked octopus and artichokes, spaghetti ai frutti di mare with baby clams, mussels, shrimp and scampi, baked branzino Mediterranean style with olives, capers, tomatoes, potatoes and fresh herbs. After an afternoon of cooking and laughs we sat down to enjoy the delicious meal we had prepared, pairing it with champagne and wine. No visit would be complete without a dance with your sweetheart in St. Mark’s Square after sundown. The dueling café orchestras play lively waltzes throughout the square. If you want to sit down and have a cocktail or espresso it can be pricey, but you can listen, dance and fall in love for free.
Vicki Payne Donatelli is an interior designer, project coordinator and popular speaker for renovation and new construction projects. She is the host of the national PBS series “For Your Home.” Visit her blog at ForYourHome.com. Ready for the train to Venice. Barbara and Ken Kopald and Jerry Donatelli.
CHARLOTTE’S BEST-LOCATED ACTIVE ADULT COMMUNITY
Visit Facebook.com/CresswindCharlotte/events 9 Designer Model Homes New Homes From The Upper $200s to $500s 855-799-4084
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|real estate trends
Buying a second home Thinking of buying a second home? Here are a few things you should consider before taking the plunge—again by Emily Gunn
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W
ith national interest rates at a low, many people are considering the possibility of buying a second home. Whether it’s purchasing a vacation home at the beach or an investment property in downtown Charlotte, buying a second place to call your own makes sense if you have financial freedom and time to spare. But there are a few things you should consider before choosing to double down on homeownership. Here are some tips from local realtor Peggy Peterson, of HM Properties who recently purchased her own second home.
SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019
DETERMINE YOUR GOALS What are your true goals for buying a second home? Peterson says that’s the first answer you should determine. For some people, buying a second home is just about having a place to vacation (and maybe having it partially covered by seasonal renters, when you’re not able to use the home). For other people, buying a second home is solely a business endeavor—something to generate additional income, particularly while Charlotte’s housing market
continues to remain on the upswing. Once you determine your goal, you’ll be better prepared to secure a loan that makes sense for your budget. If you’re planning to rent out your second home, do your homework on rent prices for similar properties in the area. If you want to create an Airbnb or Vrbo property, you should make sure the community where you want to buy allows for daily rentals (many don’t!). Also make sure the loan amount makes sense for the return you’re go-
MOSS CREEK ~ 9648 CAPELLA AVE NW ~ CONCORD
OPEN HOUSE SUN 9/1 1-3PM
MLS# 3543304 | 4 BEDS, 2.5 BATHS | 3,480 SQFT | $380,000
Patty Langevin Broker Realtor
Allen Tate Realtors 704-607-9819
3-Car Garage,2-story foyer & HWD floors throughout.Formal DR:crown molding + chair rail.Formal Patricia.Langevin@AllenTate.com LR w crown molding & columns. 2-story GR,Vaulted ceiling , gas log frpl & surround sound. French door office on main. Gourmet kitchen, huge center island w granite & stone backsplash. Double oven & walk-in pantry. Huge Master BR w tray ceilings, surround sound & his/her walk-ins. Master BA has tile floors, garden tub w/columns, separate shower & double vanity.All secondary BR’s have 2” blinds + ceiling fans. Nicely landscaped yard w fence & sprinkler system. Speakers on back patio & Garage.
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ing to get. Peterson says securing a loan for her second home wasn’t all that much different from securing the first one. But, of course, this isn’t the case for everyone—your ability to get a second home loan can be impacted by everything from your credit score to the amount you owe on your first home. Do your own research and speak with an industry expert to make sure you have everything lined up before trying to get a loan—it will make a world of difference. CONSIDER YOUR RISK TOLERANCE Because there are a lot of things lenders take into account when approving you for a second home, it’s important to determine how much you really want to take on. For many second home buyers, it only makes sense to purchase a property with cash— that way you aren’t dependent on rent income to stay afloat financially. But some second homebuyers are OK with purchasing a home through a loan and having their
BANNER ELK, NC BID SEPTEMBER 26-30
AUCTION NO RESERVE Previously Offered for $1.85M. SELLING TO THE HIGHEST BIDDER, REGARDLESS OF PRICE. ConciergeAuctions.com | +1 646.760.7823 This property is listed for sale by Sarah Whitfield (#214403) of Premier Sotheby’s Interna onal Realty (#C24902) – 1900 Tynecastle Highway, Banner Elk, NC 28604; (828) 898-5022. Concierge Auc ons, LLC is a marke ng service provider for auc ons and is a licensed auc on firm (NCAL# 9427) — 800 Brazos Street, Suite 220, Aus n, TX 78701; +1 (212) 202-2940. Licensed Auc oneer Frank Trunzo (NCAL #9167). The services referred to herein are not available to residents of any state where prohibited by applicable state law. Concierge Auc ons, LLC, its agents and affiliates, broker partners, auc oneer, and sellers do not warrant or guarantee the accuracy or completeness of any informa on and shall have no liability for errors or omissions or inaccuracies under any circumstances in this or any other property lis ngs or adver sing, promo onal or publicity statements and materials. This is not meant as a solicita on for lis ngs. Brokers are protected and encouraged to par cipate. Equal Housing Opportunity. See Auc on Terms and Condi ons for full details. ©2008 Sotheby’s Interna onal Realty Affiliates LLC. All Rights Reserved. Sotheby’s Interna onal Realty and the Sotheby’s Interna onal Realty logo are registered (or unregistered) service marks used with permission. Each Sotheby’s Interna onal Realty office is independently owned and operated. Neither Sotheby’s, Sotheby’s Interna onal Realty Affiliates LLC nor any of their affiliated companies is providing any product or service in connec on with this auc on event.
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mortgage funded entirely by renters. While this is a riskier option, it still allows homeowners to build equity along the way—all while technically having someone else “pay” their mortgage. DECIDE WHAT IT WILL TAKE TO “COME CLEAN” In realty terms, “coming clean” means making as much or more money on a home than you spent. When you take into account unexpected repairs, ongoing maintenance, HOA fees, property taxes and more, it can be a lot harder than you realize to “come clean.” If you’re purchasing a second home as an investment, make sure you know what “coming clean” will look like to you—and even if only making a little more than what you invested is worth your time and hassle. But if you play your cards right, you might be able to find a second home that will provide way more than you put in initially, making you a proud homeowner—again.
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SCH EDULE YOUR VIS IT TO DAY contact our internet specialist team at 866.551.7995
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SEPTEMBER
7
Cotswold
14
Equestrian, Farms & Land
21
Matthews, Mint Hill & Indian Trail
28
Lake James
12
Custom Built Homes
19
Union County
26
Carolina Foothills
OCTOBER
5
The Condo Issue
NOVEMBER
2
Historic Homes
9
The Boomer Edition
16
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23
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30
Asheville
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straight talk|
1550 Tippah Park Court is an example of a newer home. It has four bedrooms, 3.5 baths and 2,523 square feet, and it sold in July for $510,000. It was built in 2006. Photos from MLS, courtesy of Jeff King.
Old vs. new
Comparing renovated historic homes with recent construction in one of Charlotte’s older neighborhoods by Allen Norwood
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emodeled vs. new? Which home sells for more in a neighborhood like Plaza Midwood? Logic says there are arguments in favor of each. Properly done, a remodeled home offers the charm of the original, along with modern appliances and open layouts. On the other hand, a new home done well reflects the character of the neighborhood but offers the dependability of new wiring and plumbing. (And shouldn’t need as much tending after you move in.) So, which are buyers willing to pay more for? “New,” says Savvy + Co. broker Jeff King. “People just love new construction.” I called King after the topic came up in several recent conversations. I’ve never asked a knowledgeable pro the question, and was left wondering. King has been described as a sort of
Mr. Plaza Midwood. He lives there, has remodeled homes there and sells there. He developed a passion for bringing old homes back to life after coming to Charlotte from California, his website says, and was drawn to the historical neighborhoods around Uptown. “I love the idea of retaining the history of a home, while customizing it to fit the need of the owner.” Still, he answered without hesitation in favor of new. “Almost every time, the new construction brings more,” he says. There are caveats to all this, of course. This is hardly an in-depth look at sales history. It can be hard to compare old vs. new because the homes are so different from each other. In fact, King points out, the homes in the Midwood have always varied widely in size and finish. It’s part of the neighborhood’s charm.
And, he says, you can point to sales that break that old vs. new rule of thumb. An older home on Belvedere Avenue recently went for more than $1 million, he says. But broadly, new homes of about the same size and quality as older, remodeled homes can sell for $100,000 more, he says. This is more than just interesting party conversation if you’re a buyer seeking a home in Midwood. Based on King’s comments, you can expect to pay more for a new home that gets you into the popular community. If you already live there in a home that’s ready for renovation, well, congratulations. That’s an exciting opportunity. You can look around, see what other homes are going for, then do the math to see how much you can invest without overshooting the market. Probably a lot.
The average sale price for the past three months in Midwood pushes $590,000, according to King’s website, and the price per square foot tops $270. You might not want to decide how much to invest in the renovation of an older home, though, based on the sale price of a nearby new home. King doesn’t compare old vs. new when calculating market prices for his clients. “I’m not going to compare a 1926 house with a 2015 house,” he says. “I’m not going to use them as comparable sales.” You can get a closer look at recent sales in Midwood and other popular historic neighborhoods on King’s site, jeffkingrealtor.com.
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Allen Norwood: h omeinfo@charter.net
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STUNNING AMENITIES IN THE HEART OF BLOWING ROCK • Architectural design by David Patrick Moses • Interiors by prominent designer
• Oversized two vehicle garage • Maintenance-free living • Covered outdoor deck with
Dianne Davant • Prestigious Blowing Rock community, convenient to Main Street shopping and dining
grilling area and living space • Elevator access • One-level living • Private resident storage areas
Chestnut at Blowing Rock 364 Chestnut Drive Blowing Rock, NC 28605 chestnutatblowingrock.com Ashley Hutchens and Jerry Hutchens 828.964.5438 ashley.hutchens@premiersir.com jerry.hutchens@premiersir.com
Sotheby’s International Realty® and the Sotheby’s International Realty logo are registered service marks used with permission. Each o ce is independently owned and operated.
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WHERE MAIN STREET AND LUXURY MEET Chestnut at Blowing Rock features open and airy living spaces, natural finishes and towering windows designed to showcase breathtaking vistas.
SPECIAL ADVERTISING PUBLICATION . THE CHARLOTTE OBSERVER . SATURDAY, AUGUST 31, 2019