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Saturday, January 30, 2010

Business Journal - Report on Charlotte loses bid to join Supreme Court water fight

Lake Wylie, our water here in Tega Cay. Interesting article recently in the Business Journal.

Susan Stabley, Sjstabley@bizjournals.com
Portions of the Article.

South Carolina v. North Carolina is designated as case 138 Original; there have been only 137 other times a legal matter has gone straight to the high court. Usually a lawsuit is seen by the nine judges last, after working its way up from lower courts.

The inter-basin transfer or the IBT, removes water from one river basin into another. That's a problem for downstream communities and businesses - and states - because an IBT reduces the amount of water flowing in a river.

Energy companies and water utilities account for 92% of the water pulled from N.C. rivers. Of that, public-water supplies account for just a tenth of the demand. Charlotte pulls 53% of the water drawn by municipalities along the river. The demand for treated water grew to 110 million gallons per day in 2006 from 57 million gallons per day in 1987. The projected need by 2050 is 215 million gallons per day.

The city can still file a "friend of the court" brief to comment on issues in the federal case that it finds important.

"The city will work actively with the state to have our voice heard," says City Attorney Mac McCarley.

Wednesday, January 20, 2010

Home Sales Rose 13.1% in 2009 from December, 2008 Closings

The average sale price was $211,705, up 5.7% from $200,226 a year ago.

The average listing price of houses sold last month was $239,062, up 10.4% from December, 2008.

The number of home closings in the Charlotte area fell 23.7% in December from the 2,000 recorded a month earlier. The average sale price rose 8.4% from the $195,244 average in November.

Either way, this is good news for the area.

Thursday, January 14, 2010

California posts nation's largest foreclosure total in 2009, from Business Journal Report

About 4 million foreclosure filings -- default notices, scheduled foreclosure auctions and bank repossessions -- were reported on U.S. properties in 2009, according to RealtyTrac.

That represents a 21 percent increase in total properties from 2008 and a 120 percent increase in total properties from 2007, RealtyTrac reported. One in 45, or 2.21 percent of all U.S. housing units, received at least one foreclosure filing during the year, up from 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.

Foreclosure filings were reported on 349,519 U.S. properties in December, a 14 percent jump from the previous month and a 15 percent increase from December 2008, when a similar monthly jump in foreclosure activity occurred.

Despite the increase in December, foreclosure activity in the fourth quarter decreased 7 percent from the third quarter, although it was still up 18 percent from the fourth quarter of 2008

Four states accounted for more than 50 percent of the nation’s 2009 total, with more than 1.4 million properties receiving a foreclosure filing in California, Florida, Arizona and Illinois combined.

Monday, January 11, 2010

Where do you get the most for your money? Home Additions ...Cost vs. Value

National Averages: Addition to Recoup Value
Attic Bedroom, 83.1%
Bathroom, 59.5%
Composite Deck, 70.9%
Wood Deck, 80.6 %
Family Room, 65.3%
Garage, 62.2 %
Master Suite, 65.2%
Sunroom, 50.7%

Sunday, January 10, 2010

Tim Newman, CEO of the Charlotte Regional Visitors Authority, possible Democratic National Convention in Charlotte...has Tega Cay Link

From the Business Journal:
In May, the $200 million NASCAR Hall of Fame opens, just as the National Rifle Association brings its annual convention to town.

...Later this month, Newman, along with Mayor Pro Tem Susan Burgess and other leaders, will decide whether to move forward on a potential bid to host the 2012 Democratic National Convention...

On a personal note, nice man and family...met them when they visited Tega Cay on a short term rental on the lake, one of EDI Real Estate's properties.

February 9, 2010 Special Election in Tega Cay

Don't forget to Vote!

Tuesday, January 5, 2010

Beginning 11/06/2009 and Ending 12/05/2009 - Average Closed Home by County

Mecklenburg:
Units - 935
Average Closed Price - $210,811.00

York:
Units - 176
Average Closed Price - $186,247

Union:
Units - 175
Average Closed Price - $250,709.00

Lancaster:
Units - 45
Average Closed Price - $232,325.00

Gaston:
Units - 143
Average Closed Price - $123,187.00

988 Knob Creek, Tega Cay, SC 29708


Price Adjustment - Now $334,000
Ranch with Basement - MUST SEE!

Sunday, January 3, 2010

Welcome to Sugar Creek Garden Center - Owners from Tega Cay

Jan and George Wallace, from Tega Cay are planning to open a garden center in the Spring of 2010.   It will cater to homeowner demographics according to their website.  Looking forward to this opening!
Follow the link for more info.  http://www.sugarcreekgardencenter.com/Sugar_Creek_Garden_Center/Welcome.html

Saturday, January 2, 2010

Catawba Bridge!

York County is vying for federal stimulus money to help pay for a bridge across the Catawba River.


The $20 million dollar project would create a gateway connecting Rock Hill and Fort Mill, replacing a narrow two-lane bridge that spans the water on U.S. Highway 21. The county and municipalities would contribute more than $700,000 for bridge enhancements.

Friday, January 1, 2010

Manila Bay Ranch - For Sale WATERVIEW


Call Today if You Would Like to See this Ranch in Tega Cay
803-396-1423 Ex: 203

Higher-End Homes Face the Price Pressure (This and the Point of Sale in SC is hurting us all)

Though the cheapest houses on the market may not get much cheaper, more-expensive homes still have further to fall, which will likely slow the broader housing recovery.


The Standard & Poor's/Case-Shiller home-price indexes for October are due on Tuesday morning. Economists estimate the index tracking prices in 20 major cities was down 7.7% from a year ago.

That would mark the smallest year-over-year decline since November 2007, but would also leave prices slightly lower than in September, ending a four-month string of month-to-month improvements. That might cause some anxiety about the housing recovery.

Despite recent signs of a bottom, many observers expect home prices to fall an additional 10% before the bust ends.

A pipeline clogged with future foreclosures is the most-cited reason for such forecasts. Another has to do with the shifting mix of home sales.

So far this year, between a third and half of all sales in any given month have been foreclosures and other "distressed" properties, which have mostly hit lower-priced homes, typically the most available to subprime borrowers. Distressed properties have kept home prices falling, even as the government tax credit has boosted sales.

The worst of the subprime-mortgage defaults has likely passed, most analysts agree. That could explain why low-end homes are decreasing as a percentage of total foreclosures, while middle- and high-end homes are taking bigger shares, according to Zillow.com data.

That shift suggests price declines will prove more pronounced in middle and higher-end housing brackets, which haven't yet fallen as far as the broader market. In San Francisco, high-end prices are down just 25% from their peak, compared with 39% for the broader regional market, according to Case-Shiller data.

Monthly payments for adjustable-rate mortgages, which helped many buyers afford more-expensive homes, could rise next year, either due to payment resets or rising interest rates. That trend threatens more defaults on higher-priced properties, which would weigh on prices.

Further government aid could ease the sting, but may not be enough to offset market fundamentals—it couldn't stop prices from falling this year.

Printed in The Wall Street Journal, page C1