Charlotte home|design, October 4, 2020

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Real Estate News

C H A R L O T T E

home design

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dedicated to showcasing charlotte’s distinctive homes

“Because it is so compact and walkable, there’s a real feeling of community. People here connect, share ideas and work together to make the community better.” - Sandy Kindbom, Allen Tate

Welcoming Wards Find connection at every corner in the Queen City’s buzzing First, Second, Third and Fourth Wards. - story on page 6

real estate news

design instyle

real estate spotlight

straight talk

What’s new p4

Fall palettes p16

Mortgage mania p20

HOAs in a pandemic p26


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|real estate news

what’s new? compiled by Whitney Berongi

COMPETITION AMONG BUYERS CONTINUES IN MARKET CHALLENGED BY INCREASINGLY TIGHT SUPPLY According to a recent report of housing statistics from Canopy MLS, closed sales across the Charlotte region in August were down 1.3 percent year-over-year with 4,957 homes sold. Closed sales compared to July 2020 were down 9.4 percent as consecutive months of extremely low inventory has started to put a damper on sales. Pending sales activity, which is an indicator of buyer demand, remained strong, rising 26.5 percent year-over-year as 5,915 properties went under contract last month. This figure is up 0.3 percent compared to contract activity in July 2020. New listing activity was down 2.0 percent year-over-year as sellers continue to adjust to showing homes during the pandemic. The average list price ($360,286) rose 11.1 percent compared to last year, but dipped by 1.9 percent compared to July 2020. The median sales price ($290,000) and the average sales price ($350,986) rose 12.8 percent and 13.4 percent, respectively. The original list price to sales price ratio was at 98.5 percent, meaning sellers are getting close to their asking prices. Inventory remains critically low and declined 51.3 percent in August with 5,203 homes for sale at report time, or 1.2 months of supply. This time last year the 16-county market had 10,679 active listings for sale and 2.6 months of supply. Homes continue to sell quickly as days on market averaged 34 days in August 2020 compared to 38 days in August 2019. For more information, visit carolinahome.com and click on “Market Data.” PREMIER SOTHEBY’S INTERNATIONAL REALTY WELCOMES NEW ASSOCIATES TO ITS NORTH CAROLINA OFFICES Premier Sotheby’s International Realty recently announced the addition of three new associates. Affiliating with the company’s North Carolina offices are Amy Shipman, Asheville; and James Condrey and Melissa Condrey, Banner Elk. Headquartered in Naples, Fla., Premier Sotheby’s International Realty has over 1,200 associates and employees in 40 locations throughout Florida and North Carolina. For more information, visit premiersothebysrealty.com. HM PROPERTIES LISTS THE HIGHEST-PRICED HOME IN THE CHARLOTTE REGION Situated at the highest point of an 8.63-acre estate overlooking Lake Norman, 154 Tennessee Circle in Mooresville is the highest priced property in the Charlotte region’s Canopy MLS system and listed at $7,995,000. This 10,928-square-foot French country manor was built by Augusta Homes in Cornelius and completed in 2018. The gated entrance opens to a driveway that crosses a bridge before reaching the home. The grand foyer features a spiral staircase and opens to the vaulted great room with a double-sided fireplace. The main level continues into the paneled study, formal dining room, butler’s pantry, breakfast area and custom chef’s kitchen with two islands and top-of-the-line appliances. The owner’s suite has a fireplace, morning bar, private screened porch, spa-like bath and a two-story closet with custom built-ins, dressing areas, laundry area and spiral staircase that leads to additional closet space in a loft area. The upper level has three en-suite bedrooms, loft area and bonus room. The lower level offers a climatecontrolled wine cellar, home theater, family room with bar, music room, sports lounge, exer- cise room, spa bath with sauna and steam shower, laundry room and guest suite. Outdoor living spaces feature decks, covered and open-air terraces and lounge areas overlooking the lake and saltwater pool with infinity edge, water features and a 10-per- son sunken natural fire pit. A path leads to a private white sand beach area with a dock, boat lift, two jet ski lifts, and a 1,000-square-foot party deck. For additional information, call 704-634-8323, email joshtucker@hmproperties.com or visit hmproperties.com.

FINAL OPPORTUNITIES REMAIN IN TWO DAVID WEEKLEY HOMES COMMUNITIES David Weekley Homes has final opportunities remaining in the communities of Eden Hall and SouthRidge. Located in Matthews, two quick move-in homes are currently available in Eden Hall. Priced from the $490s, the remaining Terrace Collection homes feature open-concept floor plans with approximately 2,800 square feet of living space. These two-story homes feature four bedrooms, three full baths and two-car rear-load garages. Residents in Eden Hall have lawn maintenance included with HOA dues. Community amenities consist of trails, gazebo, lake and gardens. The Eden Hall model home is located at 9451 Downton Court in Matthews. For more information about David Weekley Homes in Eden Hall, contact 704-972-4254. Priced from the $470s, only six opportunities remain to purchase a move-in ready home in SouthRidge, with several available now and others complete by the end of the year. Located off North Community House Road, the two-story paired villas range in size from 2,300 to 2,500 square feet with three bedrooms, two or three full baths and a two-car garage. Townhomes in the community include three bedrooms, two full baths and a two-car garage within 2,600 to 2,700 square feet. Lawn care is included with HOA dues. The model home is located at 9730 Briarwick Lane in Charlotte and is open Monday–Saturday from 10 a.m. to 6 p.m. and Sunday 1-6 p.m. For more information about David Weekley Homes in SouthRidge, contact 704-972-4260.

Email real estate news to homedesign@charlotteobserver.com. C H A R L O T T E

home design Editor

Coordinator/Designer

Christina Darnell

Melissa Kennelly

Creative Strategy & Real Estate Advertising

New Home Builder Advertising

Buck Brice, bbrice@charlotteobserver.com

Suzanne Parker, sparker@charlotteobserver.com

Sales Director Vic Bowers, vbowers@mcclatchy.com 336-402-4673 Section published by The Charlotte Observer • 550 S. Caldwell St., Charlotte, NC 28202. Editorial material in this section is the responsibility of the Observer Content Studio, 704-358-5185. It did not involve the news staff of The Observer.

Is there a neighborhood you’d like to see featured? Do you know of a new design trend on the rise? Did you use one of our ideas for your own home or home purchase?

We’d love to hear from you. homedesign@charlotteobserver.com

facebook.com/TheCharlotteObserverHomeDesign *Copyright 2020 by The Charlotte Observer. All rights reserved. No part of this publication may be reproduced or reprinted without written permission.


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|uptown wards DID YOU KNOW? While newcomers and younger buyers like more modern chrome and glass-style buildings, Sandy Kindbom with Allen Tate says preretirement and new urbanites still prefer more traditional buildings.

by Julie Cooper

EAT Fin & Fino Offering no-contact delivery, curb-side pickup and dine-in services, this spacious eatery marries the best of American fare and fresh seafood for an outstanding dining experience every time. Finandfino.com

PLAY First Ward Park Head to this vibrant 4.6-acre urban park revered for family fun and summer music festivals. Mecknc.gov

EXPLORE Walking tour Go history hunting on a COVIDsafe, self-guided walking tour around Uptown, taking note of iconic Charlotte landmarks like the Queen Charlotte sculpture, the Four Corners Statues and the mosaic-mirrored Firebird sculpture outside the Bechtler Museum of Modern Art. Visitnc.com

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hile relatively small in stature, Uptown Charlotte rivals that of any big city. Separated into four distinct areas known as wards, Center City offers a hefty concentration of activities, events and venues of all types within easy walking access. “Because it is so compact and walkable, there’s a real feeling of community,” says Sandy Kindbom with Allen Tate. “People here connect, share ideas and work together to make the community better.” Thanks to this—and COVID-19— buyers from all over are finding Charlotte to be a great place to settle and put down roots. “The pandemic has actually helped our market,” admits Kindbom. “I have two buyers—and I’m sure there are many more—who are leaving New York City to find a city to live in that isn’t as congested. The new remote working opportunities have also helped. So Charlotte, like other second-tier cities, is now on people’s radar.” “I have found that people relocating from some of the country’s largest cities to Uptown Charlotte enjoy that we offer similar amenities like great dining, pro sports, big-name concerts and quality theater performances, but in a more friendly and accessible environment,” says Shane McDevitt with The McDevitt Agency. “We offer that big-city vibe but with a little of our own Southern sway.” Part of that charm includes Uptown’s four unique wards. While originally used to outline voting dis-

tricts, these areas are still labeled as such today to help distinguish the Queen City’s varied landscape. For example, First Ward is like a close-in, suburban-light neighborhood, whereas Second Ward is the city’s cultural center. Third Ward is the sports hub and Fourth Ward is loved for its historic roots and traditional homes. “Each of the four wards has its own vibe, offering buyers the option to find the Uptown neighborhood that best suits their personal lifestyle,” says McDevitt. “I have lived in historic Fourth Ward for 19 years, and it’s a great city neighborhood of tree-lined streets that surround a central neighborhood park. Picture a little urban oasis with a suburban vibe that seamlessly flows into the action and excitement of Uptown that surrounds it.” The other wards are just as fantastic in their own unique ways. As for First Ward, changes are on the horizon. “For years, the residential area of First Ward has been disconnected from the heart of the action of Uptown,” says McDevitt. “Empty parking lots sat in between the two sections. But now, this once-dead area is home to First Ward Park—a vibrant city park that is slated to be surrounded by residential, office and hotel towers. As this vision continues to take shape, it will turn this once-disjointed ward into a cohesive and connected section of Uptown.” As for the Second Ward, a string of major developments along Stonewall Street is taking shape, such as the proposed Brooklyn Village

development. “This ward will see a major influx of residents and amenities that will begin the transition of this area into a true urban neighborhood,” says McDevitt. While the construction of apartment, office and hotel towers has continued to add to Charlotte’s stunning skyline, McDevitt says Uptown’s for-sale residential development has taken a pause. “With the number of hotels, office towers and large-scale apartment buildings completed over the last several years, the number of Uptown residents, workforce employees and intown visitors will continue to grow. As this density increases, I hope we will soon see some new residential for-sale developments to follow.” Even though McDevitt says the Uptown Charlotte for-sale residential market remains healthy, he admits he’d love to see a high-rise condo tower built in the near future. “I think it would either be a mixedused building with condos possibly sitting above a trendy hotel or a building consisting of fewer but larger luxury condos. I’d also love to see a micro-condo concept incorporated into a new development.” At the end of the day, Kindbom says the future of Uptown’s real estate market is looking brighter and brighter. “Businesses are expanding here and new headquarters are still coming to Charlotte,” she says. “As goes the business growth, so goes the housing market. Low inventory and low interest rates will help our market stay strong.”


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FOURTH WARD 224 N Poplar Street #30, Charlotte, NC 28202 Price: $229,000 MLS: 3658538 Listing Agent: Sandy Kindbom, Allen Tate Realtors, 704-491-5045, sandy. kindbom@allentate.com Rare opportunity to own a large penthouse this close to Center City. Top floor with no adjoining neighbors. The building profile gives you light and windows on three sides. In the heart of historic Fourth Ward, this home has skyline views and looks out over Fourth Ward Park from your private balcony. Updated with features like all stainless steel appliances in the kitchen. Brand new washer and dryer. Brand new carpet in bedroom. Fresh paint throughout and updated bathroom. Wired for Google Fiber and cable. Secure building with elevator and secure parking. Guest parking available. Storage unit off the balcony for bulky items. Exterior has been completely redone.

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|uptown wards THIRD WARD 333 W Trade Street #2705, Charlotte, NC 28202 Price: $395,450 MLS: Contact listing agent Listing Agent: Shane McDevitt, The McDevitt Agency, 704-763-0063, shane@ themcdevittagency.com Rare find in Uptown. This is one of only four condos at Trademark offerIng this incredible floor plan. Soaring 27 floors above the city and sitting on the prime upper corner of this high-rise, the views from this home are unmatched. Floor-to-ceiling windows wrap around this upgraded condo to offer perfect views of Charlotte’s skyline as well as the Knights baseball and Panthers football stadiums. Watch colorful sunsets from the private terrace. Upgraded kitchen and wood flooring throughout. Oversized walk-in closet and spa-like bathroom. This condo is for a high-rise connoisseur looking for something above the status quo. 1,012 SqFt.

SECOND WARD 435 S Tryon Street #308, Charlotte, NC 28202 Price: $1,995,000 MLS: 3658430 Listing Agent: Shane McDevitt, The McDevitt Agency, 704-763-0063, shane@ themcdevittagency.com The Ratcliffe 308 offers a rare opportunity to own 4,417 square feet at one of Charlotte’s most prestigious condo buildings. This twolevel corner unit offers views overlooking “The Green” as well as Charlotte’s expanding skyline. Features include gas cooking, fireplace, 21foot ceilings in the living area and a separate storage unit. The area surrounding The Ratcliffe features museums, fine dining, parks, theatre, sports venues and more. Also, it’s the only condo building in Uptown directly connected to the Overstreet Mall. This building is an architectural gem, and this residence represents the opportunity to buy a “renovation-ready” condo to create your Uptown dream home. (The seller is offering a $100,000 renovation credit!)


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|uptown wards FOURTH WARD 710 W Trade Street #508, Charlotte, NC 28202 Price: $249,900 MLS: 3656808 Listing Agent: Elizabeth Phares, Allen Tate Realtors, 704-651-8562, elizabeth.phares@ allentate.com The concept is simple: sleek, clean lines and hip in a great urban location. Gateway Lofts #508 features exposed ductwork, an oversized brick interior wall, metal stairs, sealed concrete floor on lower level, plush designer carpet in sleeping area and a two-story window wall with an amazing skyline view. Assigned, designated parking on your level’s entry. This condo has been well maintained and has had some recent improvements to get ready for a new owner (new microwave/convection not shown in photo). Other upgrades include a frameless shower door, custom walk-in closet system, granite countertops throughout, slate floor installation on balcony.


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uptown wards| FOURTH WARD 546 N Church Street, Charlotte, NC 28202 Price: $1,100,000 MLS: 3642731 Listing Agent: Dennis Marsoun, Church Street Realty, 704-236-7119, dennis@236-7119.com Remarkable fourth-floor condo with city views from a private 250-square-foot balcony off the living room. The large living room/dining room is flanked by a wall of windows leading to the balcony. One of the premier condos in the downtown area, few have the 2,699 square feet that this unit has. Easy access to the elevator and parking.


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uptown wards| SECOND WARD 520 Martin Luther King Jr Boulevard #1001, Charlotte, NC 28202 Price: $739,000 MLS: 3653873 Listing Agent: Scott Russo, The McDevitt Agency, 704-421-0706, scott@themcdevittagency.com This corner unit boasts an open line of sight, abundant floor-to-ceiling windows and attention to detail. Well-appointed custom interior opens onto two northeast-facing terraces with a commanding view of the Uptown skyline. Chef’s kitchen features granite, stainless steel GE Monogram appliances (gas range, hood and built-in refrigeration), Sharp microwave drawer, pantry and large conversation island. Romantic owner’s suite with private terrace, office nook, upgraded/tiled spa bath with dual sinks, frameless shower, separate soaking tub and custom walk-in. Secondary bedroom with a large closet. Separate laundry room, modern paint scheme, designer lighting.


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|uptown wards SECOND WARD 222 S Caldwell Street #1501, Charlotte, NC 28202 Price: $649,000 MLS: 3639352 Listing Agent: Charles Major, Savvy + Co. Real Estate, 704-617-8777, charles@ charlesmajorhomes.com Enter through the beautiful lobby with concierge to access your 15th floor condo with amazing views. Unit has open floor plan with wall of windows and balcony off the living area. Kitchen has gas range, all stainless appliances, large island. Huge master bedroom with tray ceiling and private balcony. Master bath is oversized with walk-in shower, tub and double vanity. Large secondary bedroom and full bath in hall. Building has rooftop pool, movie theater for residents, club house, gym, billiard/game room, etc. This unit has two parking spaces and a private storage unit.

THIRD WARD 230 S Tryon Street Units 405 & 406, Charlotte, NC 28202 Price: $1,075,000 MLS: 3657943 Listing Agent: John Geuss, Savvy + Co. Real Estate, 980-322-5300, johnsellscharlotte@gmail.com Possibly the best corner in Uptown at 3rd and S.Tryon Streets. The custom-appointed, well cared for condo features 10-foot ceilings, heavy crown moldings, two balconies (plumbed with gas) with access from the living room and den. Third bedroom being used as a den. Freshly painted common areas create a contemporary feel in a traditional building. Large kitchen island with porcelain sink, stainless appliances, granite counters. Butler’s pantry. Surround sound. Large laundry room with utility sink. Three full-size parking spaces. Conditioned storage closet just outside the rear door. Grand lobby with full-time concierge, private fitness center, pool, owner’s suite and coffee bar round out the fabulous amenities.


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|design instyle

Fall palettes With most stores low on inventory—and inspiration—we reached out to a design insider for the latest on this year’s fall hues by Vicki Donatelli

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all swept onto the scene so swiftly this year. One week we were picnicking and swimming, the next we’re digging out our Halloween decorations and sipping cider by the fire pit. When fall arrives it brings with it the desire to switch our interior décor from summer shades to warmer hues.

New styles and colors for our homes are normally based on what we see as we shop in clothing boutiques and home stores. This year that’s almost impossible. Store inventory is at an all-time low, with many home stores trying to see off last season’s merchandise before restocking.


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Photo provided by Oly

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I reached out to Dalton Evans, designer and trend watcher for Oly, to provide color guidance this season. “Having worked in fashion for many years and watching what is coming out on the runways right now—and cross referencing that with trends and styles we are seeing for interior design and what I am including in my personal design projects—these are the colors you should expect to see and want to work with for fall 2020.” “We are seeing a lot of blues, dirty

burnt orange and major earth tones,” he says. “Plus, flesh tones balanced by cool pastels to blend with offwhites. The incorporation of leather or other textured fabric helps add character and depth.” Following Dalton’s lead, I dug deeper into this proposed color palette. Different shades of blue have been popping onto the scene for several seasons. This time around, navy is the new black. It is the perfect color to create elegant and contemporary

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spaces. While pastels may not seem like fall colors, consider the huge impact Scandinavian interiors have had on the design scene. Thus, the switch from dark wood tones in flooring and furniture to lighter woods. Flesh tone and pale lavender velvet pillows warm up an all-white décor. Designers are being pushed to use more sustainable materials, especially in their modern design projects. Green is the color of sustainability. For fall the green is deeper and richer, like a forest

when the sun filters through the trees. The natural and organic tones of blue, green and burnt orange remind us of exterior life, resulting in “earth tone” interiors. A new term to watch for is “modern rustic.” It’s a blend between old and new. The style promotes comfortable interiors with a touch of contemporaneity, like an antique Turkish rug that shows wear but still maintains its original grandeur. It’s a celebration of pieces and designs that have prevailed through


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time. Neutral color schemes are still in vogue because they create intimate and welcoming environments. These spaces provide the perfect backdrop of any of the new colors of fall. For more modern fall inspiration, contact Evans at DaltonE@olystudio.com.

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.


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|real estate profile

Mortgage mania Optimism soars as mortgage rates plummet amidst coronavirus concerns by Julie Cooper

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OVID-19 is shaking the world in the most unprecedented way. It’s devastating livelihoods, taking lives and crippling economies. Yet, at the same time, the pandemic isn’t causing all bad news. Recently, it’s caused mortgage rates to plummet, driving a housing boom that’s boosting a troubled economy. These record-low mortgage rates are creating the perfect buy-a-home atmosphere for millennials entering the market and those Americans looking to have more space in the suburbs for home offices and remote-learning areas. “The average rate, according to Bankrate, is 3.050 percent with an APR of 3.360 percent,” says Branch


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Manager Johnatan Romero with Team Romero at Movement Bank. “And I think interest rates will continue to be low for the next year or so. Sometimes an election will impact the direction on where rates go based on different market sectors in both stocks and bonds; however, I believe the pandemic has taken such a toll on our economy that we will continue to see the FED be conservative about causing hyperinflation concerns.” Unlike the falling rates associated with the housing crisis of 2012, when home values were declining steadily and the market was littered with a number of foreclosures and

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short-sales, Romero says the current mortgage scene is vastly different. “Today’s challenges present a health crisis—this is a very different market compared to the Great Recession,” he explains. “Now, homeowners are seeing a surge in their equity—the longer they’ve owned their home, the higher the equity. American families are being rewarded for their investment in real estate, and it has created wealth for those who have been able to purchase a home since the recession.” However, Wealth/Physician Mortgage Loan Officer Donna Schermerhorn with TD Bank warns there’s

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more to the low rates than meets the eye. “It’s important to remember that a borrower’s interest rate is specific to his/her personal financial situation and takes into account things like credit score, the loan term, the loan amount compared to the home’s value and more,” she explains. “The rates posted online don’t tell the full story. Homebuyers should also ask their lender to run various loan scenarios to see how rates and pricing change across different loan types.” While the pandemic has affected everyone, some potential home-buyers have been affected more than others. “For a typical W-2 earner, there haven’t been many changes. Lenders may take additional steps like conducting another employment and income verification closer to a borrower’s closing date,” Schermerhorn says. “But for self-employed buyers, securing a mortgage has become a bit more challenging. In the current environment, lenders may request more documenta-


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tion like an updated P&L for the year to date and confirmation that the business hasn’t been impacted by COVID-19. It’s best for these homebuyers to work with a lender with a lot of experience serving self-employed borrowers.” And if someone is looking to buy a home soon, Schermerhorn stresses the importance of getting pre-qualified early, even before browsing homes online. “This is important for two reasons,” she says. “First, getting pre-qualified for a mortgage will give you a good sense of your home-buying budget. When homebuyers budget for their purchase, they should think about more than just home price. They should also consider closing costs, any

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short-term repairs or upgrade needs, home furnishings and an emergency fund for things like a broken water heater.” “Secondly, most realtors will ask homebuyers for a pre-qualification letter to make sure they are only showing them houses they can afford,” Schermerhorn continues. “Right now, this is even more critical because many sellers are looking to reduce their COVID-19 exposure and only showing to the most serious buyers.” Of course, the coronavirus pandemic hasn’t only affected buyers—it’s put a strain on the entire real estate and loan originations ecosystem. “Right now, we’re seeing significant loan vol-

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TOP 3 REASONS TO REFINANCE: • To lower your monthly payment • To lower the amount of years owed on your mortgage • To capitalize on the equity in your home to consolidate or eliminate debt “These should all be considered so that when you refinance, you’re not only taking advantage of a historic move in the market, but you’re also ending up with a loan that works for you and not against,” says Branch Manager Johnatan Romero with Team Romero at Movement Bank.

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ume—both refinances and purchases,” Schermerhorn says. “The combination of historically low interest rates and pent-up demand from the spring homebuying season has led to a very active summer and September.” She says in August, the Mortgage Bankers Association reported that new home purchase applications increased by 33.3 percent year-over-year. “From the appraisers to insurance companies and even attorneys who close the loans, everyone is experiencing the challenges that come with the higher demand,” adds Romero. “The lending industry is seeing alltime highs in loan originations with the MBA expecting this to be a $3-trillion year, and we’re seeing lenders scramble to find enough skilled labor to be able to meet the demand.” “As such, Charlotte is a great market to be in for both loan originators as well as mortgage operations per-

sonnel, since there is a wide range of employers who have hubs in Charlotte to support their customers nationally,” he continues. “For people who have been laid off due to the pandemic, there are plenty of entry-level positions for those looking to learn a new skill in the mortgage industry, which is poised for a great run for the next 18-plus months.” While the pandemic has largely changed the way the world lives, works and plays, the agencies that provide mortgage guidelines for the majority of mortgage loans in the U.S. pivoted fairly quickly to adjust for COVID-19’s potential impact on homeownership. And while they’ve been more conservative in areas that relate to variable income like part-time, bonuses and commission income, the end goal remains the same—to justify the borrower’s ability to repay the loan.


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Photo by David McBee / Pexels

|straight talk

HOAs in a pandemic How are HOAs coping in the face of online meetings, uncollected fees, and stringent bills? by Allen Norwood

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ousing and banking experts predict hundreds of thousands of foreclosures next year, as mortgage forbearance periods end. The government predicts several billion dollars in loan losses at Freddie Mac and Fannie Mae, according to one report. Here’s a bit of better news: There should not be a similar crisis among HOAs across the Carolinas, even as many associations struggle to collect fees and pay bills during the COVID-19 economic slowdown. There are all sorts of ways that HOAs are fundamentally different from lenders, said Jim Slaughter of Greensboro, a top HOA attorney and past president of the state chapter of the Community Associations Institute. They’re nonprofits, and fees are their only source of income to pay neighborhood bills. “The short version is that banks are not being allowed to foreclose,” he said. “But none of that applies to HOAs.”

And your association doesn’t want to foreclose if you get behind in your fees, he said. “Associations never want to foreclose on property. What are they going to do with it? If they foreclose, they’re not taking it free and clear.” Slaughter and the other association attorneys at Law Firm Carolinas, formerly Black Slaughter and Black, have been inundated since early this year with questions from HOAs coping with the shutdown. The questions have come in waves, Slaughter said, and he and others have been addressing the most common issues in a blog at lawfirmcarolinas.com/blog. If you’re a board member or a homeowner in a neighborhood governed by an association, you’ll find lots of answers to your questions there. It’s a terrific resource. Early on, HOAs wanted to know how to conduct required meetings during the shutdown. The blog outlined options. Yes,

an association can hold remote meetings as long as everyone can hear and speak to everyone else. The attorneys explained what associations could—and could not—do to limit access to neighborhood amenities such as gyms and pools. Recently, the questions have been about how to get those gyms reopened. As you’d expect, there have been lots of questions about community fees and finances. Those questions have varied widely, Slaughter said, in ways you might not expect. Early on, leaders in communities full of young families on tight budgets asked if they could simply postpone or forego collecting fees. They were looking out for their neighbors, not looking for ways to collect from struggling homeowners. “Immediately, we had associations say, ‘Let’s not make people pay assessments,’” Slaughter said. “But you immediately run into, ‘Wait a minute, we

have bills.’” Some expenses can be trimmed, but others, such as insurance and utility bills, must be paid. And board members have a fiduciary responsibility, by statute, to manage associations responsibly. Slaughter said in one blog: “IT’S FAR HARDER FOR A COMMUNITY ASSOCIATION TO CHANGE ITS FINANCES THAN A BUSINESS.” The capital letters are his—for dramatic emphasis. In other neighborhoods, owners largely have been unscathed by the economic repercussions of the shutdown. In a community of retirees, whose incomes didn’t depend on steady jobs, leaders asked about a special assessment for improvements. The board and most members wanted to go ahead. So they did, despite the pandemic.

Allen Norwood: homeinfo@charter.net


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