The AVERAGE number of days a property was on the market from the time it was listed until it closed was 142.2, two days longer than October.

According to the Charlotte Regional Realtor Association, the number of closings for November (2,000) decreased 9.5 percent over October, 2009 (2,210). However, November/s closings are up 31.5 percent when compared to November, 2008. The average sales price for November ($195,244) remains nearly unchanged from October’s ($196.204) and is up 1.1 percent over last year’s average sales price of $193,035. The average listing price sales in November ($216,507) decreased 1 percent over October’s list price of $218, 050.

“With high affordability and low interest rates, along with the extension and expansion of the homebuyer tax credit, we are optimistic the trend will continue through the winter months, which are typically slower sales times.” From Donna Anderson, CRRA President and CMLS, Inc. President.

Premier Moves Headquarters to South Charlotte

Premier Moving HQ to Charlotte, Healthcare Alliance Signs for 262,000 SF in Charlotte, Announces 300 New Jobs

Article By Andrew Deichler, October 27, 2009

Premier Inc. is moving its corporate headquarters to Charlotte, NC, signing a 15-year lease at the Boyle Building in the Ballantyne Corporate Park. Occupancy is slated for February 2011.

A leading healthcare alliance of hospitals and other medical providers, Premier is taking the entire 10-story, 262,000-square-foot office building at 13034 Ballantyne Corporate Place. Bissell Development delivered the Class A property at the end of last year.

Blair Bryan, Jeff Harper and Eric Parris with Jones Lang LaSalle represented Premier in the transaction. Barry Fabyan, Charley Leavitt, Jenny Dykstra and Edward Curran with Bissell Cos. represented the landlord, in-house.

Premier is relocating from an 18,390-square-foot space at 12255 El Camino Real in San Diego. The organization already has quite a presence in Charlotte, occupying the 175,000-square-foot Corporate Center One in the Lakepointe Corporate Center. Premier also has offices in Philadelphia and Washington, D.C.

Investing $17.7 million, Premier plans to create approximately 300 jobs at the new location over a five-year period, while keeping the 750 employees it already has in the region. If it does so, the healthcare alliance could be eligible for about $4.1 million in incentives from state officials.

According to a statement by the office of North Carolina Governor Bev Perdue, the proposed jobs would have an average salary of $69,400 per year, not including benefits. That is about $20,000 more than the Mecklenburg County annual average.

Premier's lease ends a 21-month search for a new location that would meet its space requirements and reaffirm its commitment to Charlotte. The organization's predecessor, SunHealth, was founded in Charlotte in 1969. The current Premier alliance was formed in 1996.

"Healthcare is large and growing as an economic force here in Charlotte," said Michael C. Tarwater, CEO of the Carolinas HealthCare System, Charlotte’s largest employer and a member/owner of Premier. "Premier is a key partner in this growth, and their presence here is a great feather in the cap of our entire region."

About 90 North Carolina hospitals are members of the alliance, including Carolinas HealthCare System and Gaston Memorial Hospital, both in Charlotte. Premier has helped these hospitals to save more than $164 million since 2004. Additionally, 19 North Carolina hospitals have received $3 million for improving patient care through a program run by Premier and Medicare.

"Considering our existing presence and past history in the area, it is a natural fit for Premier to be headquartered in Charlotte," said Susan DeVore, president and CEO of Premier.

IRS – Listen Up Folks!!

The Internal Revenue Service has provided guidance to businesses on how they can use losses in 2008 and 2009 to offset income earned as long as five years ago. Businesses normally can carry back net operating losses for only two years. The economic-stimulus bill expanded that period to five years for small businesses, and lawmakers recently passed legislation extending the benefit to all businesses.

“This presents a significant opportunity for taxpayers and can result in a cash refund for qualifying companies that had taxable income in previous years.” Says Paul Manning, a principal in KPMG’s Washington national tax practice.

For information, go to www.irs.gov.

Hardwood flooring maker to move plant to Lancaster, Co

Another Charlotte company is moving to Lancaster County. Next month, the 20-employee Greyne Custom Wood Co. will begin production in the former NewGroup building in 521 Perimeter Park in Indian Land. The company also expects to add 35 jobs to its work force within three years.

From Charlotte Business Journal, Marketing to Region Could Put Center City on the MAP!

Now Charlotte is pushing emerging cultural and entertainment districts. The City has added a slew of entertainment and cultural options in the past year, with several more slated to open next year. From the EpiCentre near the NBA arena to the College Street bar district and over to the South Tryon Street cultural campus coming to life, the city now boasts concentrated areas where visitors can pick and choose from a variety of attractions. …When the night club Halo opened this summer at the NC Music Factory in Fourth Ward, 20% of the crowd during the first weekend came from out of town. The 6-acres Music Factory complex includes a 5,000-seat amphitheater and a 2,000-seat music hall.

Tega Cay, want Pita Sandwiches??

Canadian restaurant chain Extreme Pita has entered the Charlotte market, and it plans to expand to 15 to 20 locations here within five years.  (Maybe Tega Cay???)


The first: Opened Monday at Ballantyne Village Way in South Charlotte. The 1,200 square foot restaurant has 14 employees. Happy Lunch!

Charlotte wins Relocation of Electrolux - From Charlotte Business Journal

Electrolux, Swedish home-appliance manufacturer will establish its North American Headquarters in Charlotte. It is the largest corporate relocation to Charlotte since 1984, when insurer Royal & SunAllliance USA moved here.

It was the incentive package that eventually won them over from competing cities: Atlanta, Lancaster, SC, Dallas, and Jacksonville, Fla, according to the NC Department of Commerce.

Last Day to File for Special Election

Who is running?  Stay tuned.
If you are looking for help buying or selling your home, call EDI Real Estate.
803-396-1423

New Blogging Taking Place - www.TegaCayVoice.com

"Tega Cay Voice is a forum for homeowners of Tega Cay to speak their mind and hear the voice of others. Speak Up and Be Heard. Let's Improve Our City Together." - From Tega Cay Voice.

A little encouraging NEWS in the Real Estate Market

As most of us are aware, the housing market recovery to date has been concentrated in the lower-end starter home segment. While the mid-priced market has begun to show signs of life, it is still far below normal activity. The upper-end remains sluggish. Therefore, enlarging the tax credit to include move-up


buyers will add the necessary "juice" to broaden the recovery. The accompanying increased velocity in home sales will mean more economic activity. Also, even though there may be less impact in the overall net inventory (a person sells before buying so it looks as a "wash" on inventory), the months' supply will fall because of rising sales. Increased sales have the added benefit of making HVCC and appraisal issues less problematic since more comparables will be available.

Adding it all up, home sales are now expected to get a boost by roughly 15 percent next year. Existing-home sales are forecast to post 5.7 million units in 2010 (up from 5 million units in 2009). New home sales will also rise, reaching 550,000 (from 400,000). More importantly, inventory will likely fall to a 6-7 months' supply by the middle of next year. That draw down of inventory means that that there are likely to be modest home price gains. Roughly speaking a 2-5 percent price gain is likely in many parts of the country in the next year.

Rising home values will prevent home prices from overcorrecting even further. Home prices have, indeed, been overcorrecting and have led to sizable destruction in middle-class housing-related wealth. By contrast, stock market and financial wealth have experienced spectacular gains in the past nine months.

Print Advertisements, Some News You want to READ

The National Association of Realtors have found that from stats from 2008, 87% of the buying public find their home on the internet.  It was around 2% in 1995.  Look how far we have come!!
The National Association of Realtors has found that from stats from 2008, 87% of the buying public find their home on the internet. It was around 2% in 1995. Look how far we have come!!


Most buyers typically start their search online. When asked where they FIRST learned of the home they purchased, 34 percent of buyers said a real estate agent; 32 percent the Internet; 15 percent from yard signs; 7 percent from a friend, neighbor or relative; 7 percent home builders, 3 percent a print or newspaper ad; 2 percent directly from the seller; and 1 percent a home book or magazine.

Where are you advertising?  Feel free to call or ask me any question.

Surveys Matter

My next post comes from a reprint of a March 2004 Real Estate Bulletin.


There is some school of thought that it may not be necessary to obtain a current survey when purchasing a home. EDI Real Estate encourages all buyers to obtain a current survey. From our personal home to hearing other's mishaps, we recommend always obtaining a current survey.

Encroachments, building restriction lines, wells, features, swimming pool decks, access ways, utility easements, flood zones and other similar matters can all show up on a survey.

Many times the buyer hopes that Title insurance will cover any unexpected items that may appear in the future, but coverage that protects purchaser's interests unlikely to be included unless a survey is performed prior to issuance of the policy. Also, using a survey from a previous owner does not contemplate changes to the property since the earlier survey was performed.

So don't worry about delaying closing, get a survey, just order it EARLY! An informed buyer knows that an accurate, current survey will provide peace of mind that cannot be obtained from any other source.

Whitley Mills Home Price Adjustment 321 Sand Paver WAY, Fort Mill, SOUTH CAROLINA 29708

New Price, BEAUTIFUL HOME.  Woode floors, RANCH!  Call Us to view this home. 803-396-1423.

Lease Purchase Available for Homes in Tega Cay

Lease purchase options seldom used to be available in the past but with the difficulty in other parts of the country, buyers, even well qualified buyers are finding it nearly impossible to enter into purchase contracts because of their inability to sell their homes in their previous locations.  It has created such a mess that lease purchase options are now much more available than ever before. There is not "standard" method for doing a lease purchase.  We think we have a good method in place that works well for both the buyer and the seller.  I would be happy to explain it to you in detail if you are either looking to get into a home, or if you are trying to get out of a home. 

Bora Bora, Listed Today. Waterview, Ranch with Basement

10013 Bora Bora, Tega Cay, SC  29708.

803-396-1423 Call Today to View this Home for Sale.

Veteran's Group Picture in Tega Cay, SC

The First Veteran's Coffe in Tega Cay, SC.  A great group of guys!

Benjamin Franklin - Gotta Love Him

"All that's necessary for evil to triumph is for good men to do nothing." Benjamin Franklin

Tega Cay, There is Still Time to Get Your Tax Credit on Your Home Purchase

The full $8,000 Tax Credit is for first-time-home buyers (either spouse if filing jointly) who have NOT owned a principle residence during the three-year period prior to the purchase. Ownership of vacation property or rental property does not disqualify home buyers from this program.

The maximum credit is $8,000 or 10% of the home purchase, whichever is less.

The credit is available for homes purchased on or after November 6, 2009 and before June 30, 2010. However contracts must be fully ratified before May 1, 2010.

To qualify for the full tax credit, married couples' modified adjusted gross income (MAGI) should be under $225,000 (up from $150,000) and single filers' MAGI should be less than $125,000 (up from $75,000). Partial tax credits may be available for married couples with MAGI incomes of over $225,000 but under $245,000 and single filers with incomes over $125,000 but under $145,000. If married couples who qualify for the first-time tax credit file separately, they would both claim 5% of the home purchase or $4,000 each (whichever is less) on their tax returns.

There is no recapture or repayment clause IF the home is owned for at least 36 months.

Current Homeowner: An individual (and, if married, an individual's spouse) who has owned and used the same residence as a principal residence for any 5-consecutive-year period during the 8 year period ending on the date of the purchase of a new principal home will be eligible for a $6,500 tax credit ($3,250 married filing separate).

The full amount of the eligible tax credit is refunded to the buyer, regardless of whether the buyer has paid an equivalent amount in taxes.

Home purchase cap of $800,000 (no cap in previous version).

Special exemptions and extensions for military, members of the Foreign Service of the United States, and employees of the intelligence community: If such individual serves on official extended duty outside of the United States for at least 90 days between December 31, 2008 and May 1, 2010 the deadline for entering into a binding contract to purchase a home will be extended to April 30, 2011. Closing must be before July 1, 2011.

Credit is only available to purchasers who are at least 18 years old.

This version now requires that the home purchaser attach a properly executed copy of the settlement statement used to complete the purchase to the tax return.

If you purchased a home between January 1, 2009 and November 6, 2009 you will fall under the original tax credit guidelines.

October Stats of Single Family Home Listings for Surrounding Area

October 2009 Market Activity

Charlotte Regional Realtor® Association reports residential real estate monthly activity for October 2009

CHARLOTTE, N.C. – Charlotte Regional Realtor® Association reports on the residential real estate market in this region based on Carolina Multiple Listing Services, Inc. (CMLS) data. The number of closings for October 2009 (2,210) increased 13.6 percent over last month when closings totaled 1,945, and it is also up 19.6 percent over last year. The average sales price for October 2009 ($196,204) is down 0.3 percent over last month ($196,760) and down 9.5 percent over last year. The average listing price of solds in October 2009 ($218,050) is down less than 1 percent over last month’s list price of $219,925.

The residential contracts reported figure in October 2009 (2,400) increased 9.1 percent over last month when contracts totaled 2,199. This figure is also up 33.5 percent over last year when contracts totaled 1,798.

“The pending residential real estate contract number is up significantly over last year, which reflects the overall impact of the first-time homebuyer tax credit on sales in this market,” says Donna Anderson, association and CMLS president. “And thanks in part to Realtors® who responded to the National Association of Realtors® Call for Action to extend and expand the tax credit, we are optimistic that the sales momentum will continue. This is especially true now that the credit has been made available to homebuyers who have lived in their homes for at least five consecutive years within the last eight years.”

New residential listings for October 2009 totaled 4,863. The average days a property was on the market from the time it was listed until it closed (list to close) was 140.7, which is two days less than last month. The average days a property was on the market (days on market), excluding the days the property was off the market or pending, was 112.4, which is three days less than last month.

For more residential-housing market statistics, visit the association’s Web site at www.CarolinaHome.com and click on “Community Data.”

From the Fort Mill Times

The York County Regional Chamber's Tega Cay Area Council is holding a Networking in Tega Cay even from 5:30 to 7 p.m. Thursday, Nov. 12, at Piedmont Family Practice at Tega Cay, 773 Stockbridge Dr. (Stockbridge Commons shopping center), Fort Mill.


Don't miss this opportunity to network with fellow Chamber members at this free event, sponsored by Piedmont Family Practice at Tega Cay. Food and beverages will be provided; RSVP is not required to attend. Be sure to bring business cards.
For more information, contact Trina Ricks at 324-7500 or e-mail tricks@yorkcountychamber.com.

Sold In Tega Cay - Closed This Week, Doug Collins

This Ranch w/custom features plus finished basement was Sold this week! Welcome to Tega Cay.  Woodholm Court.

Tega Cay Information

Welcome to Tega Cay.  Real Estate at its finest.  I am going to try and get this going again.  I started it a long, long time ago and then....
If you are in the market to buy or sell real estate, let us offer our assistance!  Let Us Know What is the MOST we can do for YOU!

Another Under Contract!

New Home Under Contract on Scullers Run.  Beautiful Places, Smiling Faces, Here in TEGA CAY!

Do You Want to Lease Your Home, No More Less Than Three Months

Short Term Rentals In Tega Cay
The Definition changes in Ordinance 77 have now changed, just the definitions. There are some unintentional consequences for the citizens of Tega Cay if the Ordinance definition changes become enforceable. I believe the City should take into account with some sense of due diligence, these consequences.
From what I could ascertain from the council meeting regarding short term rentals was the City officials, with the exception of Larry Harper, had no idea how many rental properties there are in the City, had no idea how the new tax levies will impact rental properties (nor City tax revenues for that matter with the new tax law changes), had no idea the percentage of seller possessions after closings that take place, had no concrete idea of the percentage of potential loss of business, newcomers and revenue due to the changes in short term rental language, and had no idea that its City Zoning Officer, Chris Rice, had given authorization to allow vacation and short term rentals to its citizens over two years ago. If the City wanted to prohibit weekly or vacation rentals, it could have attempted to do so while trying to gain full knowledge and understanding of all aspects of the situation, but also while thoroughly safeguarding other citizen’s private property rights in the process. As it stands now, no one in the City of Tega Cay can sell their home and lease back for a few weeks or months to its buyer while looking for another house, cannot rent to anyone less than three months. City Councilman Dervay stating at the meeting that the City had never allowed vacation rentals in its history, was a clear cut example that the City had not investigated the issues at hand for accuracy. To the contrary, it has been allowed and was. Many times, citizens are told yes, the next day no on different Ordinance issues. One day the interpretation is okay, the next it is not. What are your thoughts on being a reformer or a perpetuator of these practices in our City?
Instead of discussing potential consequences or implications, Council heard an emotional outcry from a few people who instigated the entire issue, with some information that was outright fabricated for their own agenda. Council did not receive information nor hear from other short term homeowners because most don’t live in the city, but do pay taxes. Taxes that have tripled with the new tax laws. A $335,000 assessed home that is not a primary residense has a tax bill of $7,500.00 a year. It is hard to raise rent to keep up with this amount.
Posted by Blog with EDI Real Estate at 12/7/2008 10:36 AM

www.TegaCayUnderground.com
Wow! Jacci Brown has created an amazing site for the people of Tega Cay - www.TegaCayUnderground.com. I have to say when I started this Blog on our site, I wanted it to be a voice and place where people could go and vent, praise, etc., freely without worry of pressure from the powers that be. I fell behind on the managing and promoting and I am glad I did because Jacci's BLOG is wonderful and the timing perfect! Please everyone go to it and comment about OUR CITY, City Council, Staff, what is happening, what you would like to see happen, ask questions. She really has done an amazing job keeping it up and I just want to say THANK YOU.Deborah Collins
Posted by Blog with EDI Real Estate at 6/15/2009 11:39 AM

What is YOUR Home Worth??

What is Your Home Worth in Today's Market
All of Our Seller Clients Receive In-Home STAGING CONSULTATION By Carolina Design Network - CID, IAHSP, Accredited and Licensed. View our most recent homes for sale at: EDI Real Estate Featured Home Page.  We offer our professional services in these fine cities and more: Charlotte, Southpark, Dilworth, Cotswold, Providence, Pineville, Matthews, Weddington, Waxhaw, Fort Mill, Tega Cay, York, Lake Wylie, Baxter Village, River Hills, Clover, Lancaster, Rock Hill. Experienced, Dependable, Realtors. Put Our Experience to Work for You in North and South Carolina. We Apply 1% of the Sale Price of Your Home Sold Through Us to Your New Home Purchase* This Means - If your home sells for $350,000 a $3,500 credit is offered from us on Your New Home Purchase Including New Construction Homes & FSBO No Home To Sell? We Apply 10% of the Real Estate Sales Commission to Your New Home Purchase*Our Agents can show you any home you find for sale, including For Sale By Owner & New Construction. If you are relocating we market your Home For Sale SECOND TO NONE!
Posted by Blog with EDI Real Estate at 12/6/2008 11:33 PM

Questions about Tega Cay - Leave Them Here

We Want to Hear from You
Do you have a question about real estate, the city, the neighborhood, taxes, politics, the lake? Let us know, join the conversation. We will try to answer or direct you toward resources.
Posted by Blog with EDI Real Estate at 12/6/2008 11:29 PM

City Council Talks NUISANCE!

Nuisance Ordinance - Have You Read It?
Tega Cay Citizens, don't miss the upcoming council meeting on your town's law changes. There is a proposed change in our Ordinances that will have huge ramifications. For example, if you are having a "get together" at your home, this event would have to be approved by a Permitting Process, a noise level would be assigned to all activities, & a notice to your neighbor prior to the event is required. This Nuisance Ordinance will affect your commercial vehicles, your pets, your boats, etc. It will give zoning officials with police capabilities, and the possibility of placing a lien on your home for violations. Are these just a way of implementing homeowners association tactics? Whether you are for or against the changes, voice your opinion and go to the meeting. If the council does not hear from you, they will pass it without your input. They held one meeting already and there was such a turn out that they decided to have another public forum. Get a copy from the Tega Cay website or pick one up from City Hall. Do we really need these strict lien enforcing laws in our city? While you are there, ask why ALL of the City Ordinances are not online and why the few that are online cannot be "searched". You either have to print them out or read through every page online. Are they trying to make it difficult for the citizens to find and read their own laws?
Posted by Blog with EDI Real Estate at 12/6/2008 4:08 PM Add Comment

Welcome To Tega Cay, SC!

Welcome!
Community resource is valuable, please voice your community news, events, opinions, questions and concerns and of course your real estate news here! Get involved!
Posted by Blog with EDI Real Estate at 12/6/2008 2:22 PM Add Comment

Moved Our Earlier Post to the Google Blog.