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.