Blog for www.CharlotteHomeUpdate.com : concord real estate

Most Expensive House EVER!

Assistant 2 — Thu, 23 May 2013 13:54:00 GMT

Most expensive house ever hits market at $190M

Erika Riggs Zillow

May 21, 2013 at 1:37 PM ET

The Greenwich, Conn. estate costs more than any home that's ever been listed -- $190 million.

There's Versace's former home, priced at $100 million, Steven Cohen's $115 million apartment and a Manhattan penthouse listed at $125 million. But none of them hold a candle to an estate that spans 50 acres of waterfront in Greenwich, Conn. that recently hit the market at $190 million, becoming the most expensive residential listing in the U.S.

While the house is impressive — public records measure it at 13,519 square feet with 12 bedrooms and 9 baths — it's the spectacular land that pushes the price tag. The home sits on 4,000 feet of coveted waterfront property on Long Island Sound, and that doesn't include access to two private islands in the Sound. The two parcels, one at 30 acres and one at 20, contain a grass tennis court, formal gardens, carriage house, apple orchard, two greenhouses and a 75-foot-long heated pool. Considering that a 75-acre Greenwich property nowhere near the water is listed at $32.5 million, the $190 million ask is a little more understandable.

Heavy on Old-World charm, the house has 12-foot ceilings throughout the main rooms, a solarium with a coffered ceiling, and sleeping porches. Most of the buildings throughout the estate – known as Copper Beech Farm -- hold details from the home's original build date of 1898: The carriage house still has a clock tower, and the garage includes milking stalls.

The home was built by the Lauder Greenway family — George Lauder was a partner in Carnegie Steel. It was sold 31 years ago to its current owner, timber tycoon John Rudey. Rudey and his wife Laurie Rudey also put their Manhattan apartment on the market for $16.5 million.

It's hard to say whether the home will go for its asking price. Candy Spelling originally listed her home at $150 million but ended up selling it for $85 million to British heiress Petra Ecclestone. One of the most expensive sales recorded in the U.S. — the $100 million Silicon Valley estate bought by Yuri Milner — is still significantly under the Greenwich estate ask.

Thinking about financing a place like this? According to Zillow's mortgage calculator and assuming a 20 percent down payment (which would be $38 million) on a 30-year fixed-rate mortgage, a monthly payment would be $687,734.

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Nationally, Appraisers are Putting Higher Values on Homes!

Assistant 2 — Wed, 15 May 2013 16:15:00 GMT

Home appraisals no longer derailing sales

NEW YORK (CNNMoney)

By Les Christie @CNNMoney May 15, 2013: 9:14 AM ET

Consider this one more sign that the housing market is heating up: Appraisers are putting higher values on homes again, allowing for more deals to go through.

During the housing bust, sales were often derailed by low-ball appraisals that fell far shy of a home's selling price.

For example, if a home cost $500,000 and required a 20% down payment of $100,000, the buyer would need to finance $400,000. But if the appraiser valued the home at $450,000, the buyer would only be eligible for a $360,000 loan -- making the home too costly for some buyers.

But now, as home prices climb and housing inventories shrink, appraisers are valuing homes at or above their selling prices, according to Lawrence Yun, chief economist for the National Association of Realtors.

Between 2008 and 2010, appraisals for more than a third of Seattle-based real estate agent Michael Ackerman's sales came in below the selling price. So he had to get creative.

"I started pulling out the key boxes at the homes so the appraisers couldn't get in," said Ackerman. "They had to call me to let them see the home. I would bring a packet of comparables along and explain what I used to price the home."

But now, with home prices posting such strong gains, those strategies may not be necessary anymore.

"I've closed 15 homes so far this year and none of the appraisals have come in below the selling price," said Ackerman.

He was certain a recent deal in Wallingford, Wash. was going to fall through when the buyer agreed to pay $755,000 -- well above the average $690,000 other homes in the area had sold for. When the appraisal came in at the full selling price "everybody's jaws dropped," he said.

And in some of the hottest markets, appraisals are coming in well above the selling price.

Agent Eric Tan said one appraiser did a "drive-by" of a West Covina, Calif., home he was selling in April.

"He didn't ask for any comps, to see the inside of the house, or even schedule a time to meet with me. He wrote up the appraisal right at the purchase price," he said. "I was able to sell the client's home for about $40,000 more than I thought the appraiser would value it."

In Jacksonville Beach, Fla., where prices have soared 15% over the past 12 months, agent Cara Ameer was "holding her breath" when it came time to get an appraisal on a two-bedroom townhouse she sold for $5,000 more than its $189,000 asking price.

"It was FHA financing and [the FHA is] typically much more strict," she said. That appraisal too ended up coming in above the selling price.

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The Charlotte Area Market Continues to Improve

Assistant 2 — Wed, 08 May 2013 13:12:00 GMT

2 reports show Charlotte-area housing market picking up

By Deon Roberts
deroberts@charlotteobserver.comBy Deon Roberts The Charlotte Observer

Modified: Tuesday, May. 07, 2013

Two reports released Tuesday show a Charlotte-area housing market that continues to strengthen in favor of sellers after buyers had the upper hand during the economic downturn.

CoreLogic, an Irvine, Calif.-based company that provides monthly reports on housing prices, said they rose 7 percent in the Charlotte-Gastonia-Rock Hill area in March from the same month a year ago. The figure includes sales of distressed homes. Nationwide, home prices, including distressed sales, rose 10.5 percent in March from a year ago.

Also Tuesday, the Charlotte Regional Realtor Association reported that Charlotte-area home prices increased by 1.1 percent on average in April from the same month last year, as inventory continues to dwindle. The April statistics on existing, not newly built, homes in the Charlotte region point to an ongoing shift in favor of sellers – and a market in which buyers continue to have fewer homes from which to choose.

According to the preliminary data from the association, the average sales price in April rose to $217,166 from $214,739 in April 2012. The number of sales increased 34 percent year over year, to 2,915 from 2,168.

Another statistic released Tuesday by the Realtor association doesn’t bode well for buyers: The inventory of homes for sale in April dropped 30.1 percent from a year ago to a 4.9-month supply.

Many in the real estate industry consider a seller’s market to be one in which the number of homes for sale is below a 6-month supply. The monthly supply measurement is an estimate of the time it should take for homes to sell.

As inventory keeps falling in the Charlotte region, it could result in more cases of multiple bids being made on homes and prospective buyers offering more than the initial asking price – both scenarios that some local brokers have reported this year.

The Realtor association’s April report also shows sellers are raising prices. The average list price last month was $275,150, up 4.5 percent from $263,391 a year ago.

On the bright side for buyers, more homes were put on the market in April versus the same month last year, according to the association. Last month, there were 5,115 new listings, up 11.7 percent from April 2012, giving buyers weary from too-few options more to pick from.

As the market strengthens for sellers, homes are selling faster than they were a year ago. The average number of days from when a home was listed until it sold fell to 142 in April, 13 fewer days than the same month last year, the association said.

The association also said Tuesday that foreclosures and short sales fell in April, accounting for 8.4 percent of new listings and 12.2 percent of sales.

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Before Relocating for a Job, Consider These 9 Things

Assistant 2 — Wed, 17 Apr 2013 17:02:00 GMT

9 Things to Consider Before Relocating for a Job

By Aaron Guerrero | U.S.News & World Report LP – 2 hrs 10 mins ago

Mired in years of either double-digit or high single-digit unemployment, your home state has hardly been flourishing with job opportunities.

Determined to steer your career in a new direction, you applied to jobs outside the state. And though landing a job elsewhere initially seemed like a long shot, an employer has bit on your résumé and offered you a position.

Before packing up your bags and settling into new digs, here are some questions to address.

1. How will this affect my relationship? If you're single, in your 20s, and enjoy a traveling lifestyle, you may be open to taking a job halfway across the country, notes Alexandra Levit, writer at the career advice blog The Fast Track and author of "Blind Spots: 10 Business Myths You Can't Afford to Believe on Your New Path to Success."

Being married, however, changes the calculus, particularly if your spouse has achieved great career success in the area where you currently reside. "If [your spouse has] a great situation going now and the relocation would force them to give up that situation, sometimes that's not a good idea," Levit says.

[See: 25 Career Mistakes to Banish for 2013.]

2. What about the kids? Moving your children from one place to another could have a negative effect, especially if schools and security in the area are a notch below where you currently live, Levit notes.

Moreover, with family members close by, you and your spouse have never had to worry about who would watch the kids after school. Setting up shop elsewhere could make child care problematic. "If there are grandparents nearby, [that's] a huge benefit," Levit says. "Moving away from them, you could find that your life becomes a lot more unpleasant."

3. What kind of financial shape is the company in? The job's duties read like a wish list of everything you've wanted professionally. But if the company is just getting off the ground or has struggled financially in the past, it should give you pause.

Still, Brenda Harrington, president of Adaptive Leadership Strategies, an organization that specializes in work relocation, says moving is worth the risk if it aligns with your long-term career goals. "If you feel that the opportunity is in your long-term plans, then it's probably worthwhile," she says. "And that's regardless of the company's financial position or anything like that."

4. Will the company cover your moving expenses? Hauling your belongings thousands of miles away can be pricey. A single person moving from a one-bedroom, Los Angeles apartment to one in Chicago could spend approximately $2,240 for professional movers to load and unload a single mobile storage container, according to a cost estimate from the national moving company Atlas Van Lines.

If the company you work for won't cover the moving expenses, Harrington suggests performing a cost-benefit analysis, weighing both professional opportunity and possible financial sacrifice. However, "Companies will typically provide some benefit for new employees to move to a new location," she says, adding that assistance can come in either the form of a lump sum or a more defined benefit package.

A recently released Atlas Van Lines survey shows that 9 out of 10 companies reimburse or pay some relocation costs for transferees or new hires. Approximately 65 percent of companies fully reimburse transferees for moving expenses, while 57 percent do the same for new hires.

[See: The 10 Priciest Cities for U.S. Workers.]

5. Will my cost of living go up? Your new position may offer higher pay, leaving little to no reason to fret about the cost of living in your new area. Then again, your salary could be lower. Couple a decreased paycheck with a more expensive city, and the life you're accustomed to could be dramatically altered.

According to PayScale.com, a website that provides salary data for employee and employers, if you ended up working in New York City, where the cost of living is significantly higher than the national average, you could pay 48 percent more in groceries compared to the national average. You will also pay significantly more for housing (352 percent), utilities (28 percent), transportation (31 percent) and health care (25 percent).

6. How have others handled the transition? Find out from those who went before you. Contact someone from the company who transferred to the new place you'll be working and living in, Levit suggests. Hoping to lure you to the job, a company hand may give you a more sanitized version of events.

To balance out the advice you get, and for a possibly less-filtered description, Levit recommends that you also "get the 411 from somebody who's in a similar position to you that relocated who's not in the company."

Moreover, Levit says a Google search that combines the words "relocation" and the name of the area could also help fill in the blanks to your questions. Visiting travel message boards might also help. "See what people are buzzing about online in terms of whether it was a good move or not a good move and for what reasons," she says.

7. What will the day-to-day be like? Spending winters in sunny Southern California is lot different from spending them in ice-cold Chicago. "A city that one person could love, another could hate," Levit says.

Weather is only one daily attribute to consider. Take into account how commute times and other daily rituals unique to the location may affect not only your work routine, but your personal one. "You want to make sure that the overall location is a good fit for your life because you're only working a certain percentage of the day," Levit adds.

[Read: Does This Job Pass The Sniff Test? 4 Questions to Ask.]

8. Can you visit or stay beforehand? Reading about where you'll live via a pamphlet or website is no substitute for actually being there. If possible, travel to the place for a brief visit before saying yes to the employer. "It's really important not only to visit but to almost embed yourself in the local area and the culture and really try to develop the perspective that you would have if you were living there," Harrington says.

9. Have you done your homework? Relocating can have a major impact, both in the long and short term, on your personal and professional life. Be sure you've sufficiently analyzed the move from every angle. "The more information you can find out, the more educated a decision you can make," Harrington says.

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Charlotte Home Sales Rise Again!!!!

Assistant 2 — Wed, 10 Apr 2013 14:39:00 GMT

Charlotte home sales up 24.9% from March 2012

By Deon Roberts
deroberts@charlotteobserver.com

By Deon Roberts The Charlotte Observer

Posted: Tuesday, Apr. 09, 2013

Modified: Tuesday, Apr. 09, 2013

Sales of existing homes in the Charlotte region jumped 24.9 percent in March from the same month a year ago, while the average sales price rose 10.3 percent, the Charlotte Regional Realtor Association said Tuesday.

Sales of existing homes in the Charlotte region jumped 24.9 percent in March from the same month a year ago, while the average sales price rose 10.3 percent over the period, the Charlotte Regional Realtor Association said Tuesday.

It was the 21st consecutive month of year-over-year increases in sales and the 14th consecutive month of year-over-year increases in average prices for the 17-county area tracked by the CRRA.

For the month, there were 2,621 sales in the region, compared with 2,098 in March 2012. The average selling price rose to $216,445 from $196,214.

In Mecklenburg County, increases in sales and prices surpassed those for the metro area. There were 1,227 sales in the county in March – up 29.3 percent from 949 in the same month last year. The county’s average sales price rose 10.8 percent to $236,184 from $213,234.

Homes continue to sell quicker in the Charlotte region. Days on the market – a measure of the time it takes a home to sell – fell to 112 in March from 120 the same month last year.

The CRRA tracks existing homes, not newly built ones.

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Check out the price trends for the Cornelius area. Click the link below to view your own zip code trends!

Price Trends for Your Area

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Spring Into Buying Your Dream Home....The Time is Now!

Assistant 2 — Wed, 20 Mar 2013 18:56:00 GMT

Spring Home Buying Season Off To Early Start

Realtor.com’s February 2013 national housing data indicates that listing inventories increased 1.15 percent month-over-month; median age of inventory was at 98 days, a 9.26 percent decrease month-over-month; and median list prices were slightly higher month-over-month at $189,900. These numbers show that home buyers are getting an early start on the spring season despite the fact that inventories recently hit record lows.

The median age of inventory was down by 9.26 percent month over month and total listings are up 1.15 percent month over month, suggesting that many reluctant home sellers are starting to take an early advantage of the recent improvements in housing prices. Annual inventory decreases of -15.97 percent are consistent with a gradual, yet persistent downward trend that has been occurring over the last two years. From January 2013 to February 2013, the median age of inventory decreased in 145 of the 146 markets tracked by realtor.com. The national median list price also reversed its downward trend, rising by 1.55 percent over the month of February and 1.01 percent on an annual basis. In addition, the number of markets experiencing a decline in home prices is shrinking, implying more good news for the housing market and U.S. economy at large.

There continue to be pronounced regional differences in the strength of the housing market. Several areas in California are experiencing the highest increases in list prices coupled with the largest inventory declines. Phoenix, Seattle and Denver are also among the top performers across the U.S. However, many smaller industrialized markets in the Midwest and the Northeast registered year-over-year price declines, as did Philadelphia, Chicago and New York City. While the number of markets experiencing year-over-year list price declines had been increasing, this pattern appears to be turning around as home list prices increased in 78 markets last month on a year-over-year basis and declined in 39.

National Data

In February, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,494,218) increased by 1.15 percent month-over-month. On an annual basis, however, inventory was down by 15.97 percent.

The national median list price for single-family homes, condos, townhomes and co-ops ($189,900) increased by 1.01 percent year-over-year and 1.55 percent month-over-month in February.

The median age of inventory of for sale listings fell to 98 days in February, down 9.26 percent from January and 11.71 percent below the median age one year ago (February 2012).

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It's Official!! Sea Life Aquarium at Concord Mills will begin construction this July and Open in Spring 2014. It will feature a walk through underwater tunnel!!

Assistant 2 — Thu, 14 Mar 2013 15:42:00 GMT

Concord Sea Life aquarium scheduled to open in spring 2014

Construction set to start in July

Sea Life Aquarium

Sea Life operates more than 30 aquarium attractions around the world.

Posted: Wednesday, March 13, 2013 1:31 pm

CONCORD, N.C. -- Global visitor attraction operator, Merlin Entertainments (Merlin), has confirmed that it has reached an agreement with the City of Concord, Cabarrus County and The Mills, a Simon Company, to develop plans for a $10 million SEA LIFE aquarium to open in spring 2014 at Concord Mills, the largest outlet and value retail shopping destination in North Carolina.

“North America is a very important development market for Merlin, and we are delighted to be able to move forward with this exciting project in North Carolina,” commented Glenn Earlam, Managing Director of Merlin Entertainments’ Midway Attractions group. “We have already worked very successfully on two other projects with The Mills in Dallas and Phoenix; and in recent months we have also developed excellent working relationships with the Cabarrus Convention and Visitors Bureau, the City of Concord and Cabarrus County. These were key factors in our decision to come here. This support, together with our proven success in other key Simon Malls, underlined our belief that Concord, and particularly Concord Mills, is a perfect location for a quality family-based leisure facility.”

SEA LIFE is the world’s biggest aquarium brand with more than 15 million visitors a year and 50 superb attractions in Europe, USA and Asia Pacific. This will be Merlin’s sixth SEA LIFE Center attraction to open in the USA, and SEA LIFE at Concord Mills will highlight all of the qualities which have gained the brand the support and endorsement of marine experts worldwide. Initial plans call for more than 30 spectacular displays of diverse marine life for visitors to enjoy - everything from shrimp and starfish to seahorses, sharks and rays. In keeping with other SEA LIFE attractions, there will also be a unique element reflecting the Carolinas’ location based around the marine creatures most associated with the region. Finally, the stunning centerpiece will be a huge tropical ocean tank with a walk-through underwater tunnel.

The SEA LIFE focus is on quality of experience rather than scale, taking visitors on a seamless journey under the sea, which entertains, inspires and teaches both young and old. The attractions offer everything from viewing windows, giving a glimpse into the ocean itself, to enlightening talks, feeding demonstrations and many other ways to interact directly with some of the creatures. Conservation is also at the heart of the business and visitors will see strong evidence of SEA LIFE’s exciting Breed, Rescue and Protect activities around the world, including new projects developed locally. Merlin calls the SEA LIFE experience “fun learning.”

Set to begin construction during July 2013, SEA LIFE at Concord Mills will be the aquarium of the Carolinas. It will add a new dimension to the existing family-oriented shopping and leisure activities in Cabarrus County. Located close to interstate highways and the airport, as well as the world famous Charlotte Motor Speedway, which welcomes tens of thousands of visitors every year, Concord Mills is already acknowledged as being one of the region’s most important and exciting shopping destinations. It successfully combines quality, big name value retail stores, with some of the best family dining and entertainment venues like SEA LIFE.

“The SEA LIFE aquarium will be a welcome addition to Concord Mills’ successful mix of retail, dining and entertainment concepts,” said Gregg Goodman, president of The Mills. “We look forward to this next exciting venture with Merlin Entertainments and are confident that the millions of visitors who are already drawn to Concord Mills will be attracted to the unique SEA LIFE concept.”

John Cox, president and CEO of the Cabarrus Economic Development Corporation and Cabarrus Regional Chamber of Commerce said, “We are delighted that a global leisure company as dynamic and successful as Merlin is coming to our County, and bringing such a great attraction. It will not only bring jobs to Cabarrus County, but also be a showpiece for the Carolinas. We hope it is just the start of a long and mutually beneficial relationship with Merlin.”

Merlin also operates SEA LIFE aquariums in the USA at LEGOLAND, Calif.; the Mall of America in Minneapolis, Arizona Mills in Tempe, Ariz.; Grapevine Mills, Dallas/Fort Worth, Texas; and Crown Center Kansas City, Mo.

Merlin currently also has 12 other attractions in North America. These include the LEGOLAND Florida theme park resort and Water Park; LEGOLAND California theme park with its exciting Water Park, SEA LIFE aquarium, and hotel due to open in April this year; Madame Tussauds celebrity wax attractions in New York, Washington DC, Las Vegas and Hollywood; and LEGOLAND Discovery Centers in Chicago; Dallas/Fort Worth; Kansas City Missouri; and Atlanta, Georgia; with two more due to open in the Spring in Westchester, N.Y. and Toronto, Canada.

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Construction Has started for the Charlotte Knights Baseball Stadium!

Assistant 2 — Tue, 12 Mar 2013 19:30:00 GMT

View the progress at Charlotte Knights

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Four Great Reasons to Get Your Home Inspected BEFORE You Try to Sell It!

Assistant 2 — Tue, 26 Feb 2013 18:45:00 GMT

Get an Inspection Before Selling Your Home

According to the U.S. General Accounting Office, more than 85 percent of homebuyers who applied for a mortgage also requested an inspection -- not too surprising, since home inspections can reveal hidden flaws and potentially pricey repairs. But even though an inspection can make or break the deal, most sellers wait for the buyer to take the initiative (and chew their nails while awaiting the results). Here are a few reasons why you might benefit from getting your home inspected before you put it on the market.

Reason #1: Reassure prospective buyers.

Even after a walk-through or two, buyers rarely know exactly what to expect from a home inspection -- there's always the possibility of termites gnawing on that rustic log cabin or faulty wiring lurking behind those faux-finished walls. Providing a pre-inspection assures the buyer that no major surprises are in store; while they might not waive their own follow-up inspection, they'll at least feel more comfortable about placing a bid.

Reason #2: Buy time and save dough.

Even in a relatively new or completely renovated home, chances are a home inspector can find a red flag or two. After all, that's their job. When a fault is found during a typical home inspection, you may only have a few days to decide whether to make the repair or adjust the sale price appropriately -- and you'll need to find a solution that satisfies you and the buyer. A pre-inspection gives you more time to compare prices and treatment options from a variety of contractors. You may also avoid conceding a huge chunk of change for unpredictable repair costs like mold remediation or structural work.

Reason #3: Know where you stand.

Generally, your final selling price is determined long before the inspector ever sets foot inside your door. That leaves a huge question mark lingering over your negotiations -- are you going to be forced to drop your final figure again if a major problem is uncovered? By getting an inspection early, you'll know what concessions a buyer might request. That allows you to set your asking price accordingly and find out whether or not you're in a position to play hardball.

Reason #4: Prevent repeat repairs.

No matter how handy you are, there's always a risk of misdiagnosing a problem. But getting your home pre-inspected could help you avoid wasting money on unnecessary repairs. Say your toilet hasn't been flushing quite right, so you pay a plumber to replace it -- only to learn upon inspection that the problem was in your septic system. A pre-inspection helps you avoid doing double-duty, since the inspector can pinpoint the problem and recommend the right repair.

While the average home inspection costs a few hundred dollars, it can save time and money in the long run. To find a home inspector in your area, visit the American Society of Home Inspectors at www.ashi.org.

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2024 Olympics Coming to Charlotte??

Assistant 2 — Thu, 21 Feb 2013 14:56:00 GMT

U.S. Olympic Committee asks Charlotte to consider bid for 2024 Summer Games

Charlotte is among 35 cities that have been asked by the U.S. Olympic Committee to consider hosting the 2024 Summer Games. Pictured here is the Olympic cauldron during the opening ceremony for last year’s games in London.

photo BLOOMBERG

Susan Stabley

Staff Writer- Charlotte Business Journal

The United States Olympic Committee has asked 35 cities across the country — including Charlotte — to consider hosting the 2024 Summer Games, according to a report from The New York Times.

Letters have been sent to those mayors "to gauge their interest in making a bid," the Times reports.

The Times reports:

The cities that received the letter were Phoenix; San Jose, Calif.; Los Angeles; Sacramento; San Diego; San Francisco; Denver; Washington; Jacksonville, Fla.; Orlando, Fla.; Miami; Atlanta; Chicago; Indianapolis; Baltimore; Detroit; Minneapolis; St. Louis; Las Vegas; New York; Boston; Rochester; Charlotte, N.C.; Columbus, Ohio; Tulsa, Okla.; Portland, Ore.; Philadelphia; Pittsburgh; Memphis; Nashville and Davidson County; Austin, Tex.; Dallas; Houston; San Antonio; and Seattle.

Salt Lake City was the last city in the country to host an Olympics, in 2002 for the Winter Games. Past host cities for Summer Games have been Atlanta, St. Louis and Los Angeles, which hosted twice.

Such a bid might be a dream come true for starry-eyed local leaders who, since playing host to the 2012 Democratic National Convention, have their sights set on more high-profile events for the Queen City, such as the Super Bowl or the Olympics.

Charlotte is already in the running with about 20 other locales hoping to host the ESPN X Games

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Pulitzer Prize winner to speak at Davidson College on Feb. 26th-FREE admission

Assistant 2 — Tue, 19 Feb 2013 19:54:00 GMT

Pulitzer Prize winner to speak at Davidson

Posted by CW Web Adminon February 14, 2013in Davidson College, News|0 Comment

DAVIDSON – The Pulitzer Prize-winning biographer Robert A. Caro will speak at Davidson College at 8 p.m. Feb. 26 in the Duke Family Performance Hall.

Admission is free, but tickets are required. Tickets are available for pickup at the Alvarez College Union box office from 10 a.m.-4 p.m. on weekdays.

A reception and book signing will follow the lecture.

Caro has won virtually every major literary honor in American letters for his five major works.

He is best known for his four-volume biography of former U.S. President Lyndon B. Johnson, which the London Times called “the greatest biography of our era.”

Caro won his first Pulitzer Prize for “The Power Broker,” a 1975 study of New York politician Robert Moses.

In 2003, his second Pulitzer honored “Master of the Senate,” the third volume of his examination of President Johnson.

Caro’s other honors include two National Book Critics Circle Awards for best nonfiction book of the year, the National Book Award, the Gold Medal in Biography from the National Academy of Arts and the Francis Parkman Prize from the Society of American Historians for the book that “best exemplifies the union of the historian and the artist.”

He also received the National Humanities Medal, awarded by President Barack Obama.

Call the ticket desk at 704-894-2135 for more information.

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Another great ranking for Charlotte, NC!!!

Assistant 2 — Wed, 13 Feb 2013 16:37:00 GMT

Charlotte among America's best cities for small business

Charlotte is among America's best cities for small business, according to a report from On Numbers.

Jen Wilson

Associate Editor/Online- Charlotte Business Journal

Charlotte scored high marks on a recent analysis of the friendliest places in America for small businesses. The Queen City ranked No. 11— not a bad spot on a list of the nation's 102 major metropolitan areas.

But Raleigh placed even higher, ranking No. 4. Austin, Texas, topped the list for a fourth straight year.

The rankings were determined through an analysis by The Business Journals, a division of Charlotte Business Journal parent American City Business Journals Inc., that used a six-part formula to assign scores based on the concentration of and growth rate among small businesses, population growth, employment growth and other factors.

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Exciting News for Charlotte Area Home Sales!!

Assistant 2 — Fri, 08 Feb 2013 00:33:00 GMT

Realtors: Annual Charlotte-area home sales soared 40% in January

Susan Stabley

Staff Writer- Charlotte Business Journal

Residential real estate closings in the Charlotte metro area saw a 40 percent spike in January compared with the same period a year earlier, according to the Charlotte Regional Realtors Association’s monthly market activity report released Thursday.

Closings in the 10-county area totaled 2,163 last month, up from 1,541 in January 2011, the report states.

Realtors have been reporting double-digit gains for the Charlotte area for months when it comes to year-over-year figures. Home closings jumped 23.4 percent in December, 35 percent in November and 36.8 percent in October, in comparison with year-earlier levels.

Local industry observers expect 2013 to continue in a steady fashion. This report marks the 12th straight month of positive returns for the Charlotte area.

Still, Eric Locher, association president, urges sellers to remain realistic about their expectations.

“With inventory decreasing and new listings down, we are seeing continued upward pressure on prices, Locher says. “We are a couple of months ahead of the selling season, and it’s a good time for sellers to prep homes for listing, keeping in mind that the property still needs to be realistically priced for what the market will bear.”

Average sales price were flat last month compared with January 2012, rising a mere 0.6 percent to $189,007 from $187,803 a year ago. The median sales price — considered a more accurate measurement of trends over time — increased 2.6 percent to $150,000 from $146,200 year-over-year.

Pending sales are up a whopping 62.3 percent, with contracts increasing year-over-year to 2,925 from 1,802.

But listings dropped 1.3 percent to 3,838 as inventory as plummeted 29.4 percent from this time last year, leaving the region with a five-month supply of houses, the report states.

Average list prices last month rose 2.6 percent to $252,586 from $246,197 a year earlier, as counted through Carolina Multiple Listing Services Inc.

The average amount of time from listing to closing decreased by 10 days year-over-year to 155.

Of the new listings last month, 11.1 percent involved distressed properties, down from 14.4 percent a year earlier, while 18.1 percent of the closings last month were sales of distressed properties, down from 21 percent a year ago.

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Charlotte and Lake Norman Area Homes for Sale and Updates by Matt Sarver with Keller Williams Realty

The Numbers Are In......Charlotte Got a Huge Economic Boost from the DNC!

Assistant 2 — Mon, 04 Feb 2013 16:02:00 GMT

Democratic National Convention economic impact: $163.6 million

The convention brought $91 million in new spending, study finds; hotel industry was the biggest winner

By Steve Harrison
sharrison@charlotteobserver.com

Posted: Tuesday, Jan. 29, 2013

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Obamas and Bidens at the Democratic National Convention at Time Warner Cable Arena in Charlotte, N.C. on 09.06.12. This is the final day of the convention. David T. Foster III-dtfoster@charlotteobserver.com
September’s Democratic National Convention injected $91 million in new spending into the local economy, for a total economic impact of nearly $164 million, according to a consultant’s report released Monday.

September’s Democratic National Convention injected $91 million in new spending into the local economy, for a total economic impact of nearly $164 million, according to a consultant’s report released Monday.

The three-day DNC was the city’s largest convention and its most lucrative, local leaders said during a news conference Monday. More than one in five dollars poured into the local economy came from the federal government, through a security grant.

“This is the most direct spending in the history of Charlotte,” said Tom Murray, chief executive of the Charlotte Regional Visitors Authority.

The visitors group, along with the city of Charlotte and three other groups, hired Tourism Economics to conduct a detailed study of the convention’s dollars. The decision to hire an outside consultant for $25,000 came after the Visitors Authority’s past estimates of economic impact for conventions were found to be wildly inflated.

Tourism Economics said it tried to be conservative in how it calculated visitor spending.

It aimed to determine the amount of money lost because of people staying away from the city during the DNC. It estimated local businesses lost $7.3 million because of the DNC. In determining an economic impact of nearly $164 million, it said it accounted for the fact that much of the hotel industry’s profits didn’t stay in Charlotte.

“Marriott’s profits are going to Maryland,” said Adam Sacks of Tourism Economics.

The economic impact number accounts for more money rippling through the local economy. If a bar sells more beer during the convention, for instance, a beer supplier will also make more money.

The final estimate of $163.6 million is smaller than some previous estimates from host cities. Sacks said it’s possible the actual number could be higher.

In Denver, convention boosters said the 2008 DNC had a total economic impact of $266 million.

Hotels gain the most

Hotels were the biggest beneficiary of the DNC.

The consultant said area hotels booked 61,246 hotel room nights for the DNC, generating $20.9 million in revenue. September was the local hotel industry’s best month in at least four years. Tax revenue for hotels was up more than 80 percent compared to September 2011.

For context, events tied to the Charlotte Convention Center usually book about 150,000 hotel room nights in an entire year. Visitors for the CIAA basketball tournament usually buy about 45,000 of those hotel room nights.

The next biggest category of spending was nearly $20 million. That mostly accounts for equipment bought for the Charlotte-Mecklenburg Police, as well as overtime paid for officers. The city received a $50 million federal security grant, but the consultant said $30 million of that money left the Charlotte area.

Tourism Economics estimated DNC visitors spent $5.7 million on food and beverage and $5.3 million on ground transportation.

City leaders said the report showed that the DNC was worth it for the city financially. Mayor Anthony Foxx said the city should try for other events, including the Republican National Convention in 2016 and the Super Bowl. He also mentioned that Charlotte could one day host the Olympics.

Bob Morgan, president of the Charlotte Chamber, said the city received valuable exposure.

“Name a network and they were here,” Morgan said. “Charlotte was the story.”

Tax revenue brought in

Though Tourism Economics said it was conservative in tallying how much DNC visitors spent, the group was more generous in estimating how much new tax revenue was generated from the event.

The study said the state received $1.7 million in sales taxes from the DNC. Local governments received $2.2 million in new sales taxes, including the special hospitality tax on hotel and motel rooms.

But the study also assumed local governments received $1.9 million in new property taxes from DNC spending.

The DNC did not create new property that was taxed, at least not at a rate of $1.9 million. Instead, the consultant said, that number was created by estimating the total economic activity from the convention as a share of the region’s total tax base.

Tourism Economics said the DNC spending supported nearly 1,500 jobs. But Sacks acknowledged in an interview those jobs would not disappear this year because there is no political convention in Charlotte.

Tourism Economics said 35,000 people attended the convention, including 15,000 media. Those were the estimates for attendance used before the convention.

The consultant didn’t ask the DNC host committee to count the credentials issued to delegates and media to get an exact number. Republican City Council member Warren Cooksey asked whether a more accurate head count would have produced more accurate spending estimates.

Sacks said Tourism Economics was confident the estimates were correct, based on the number of hotel rooms used.

The report was paid for by the city of Charlotte, Center City Partners, the Charlotte Chamber, the Charlotte Regional Visitors Authority and the Charlotte Regional Partnership.

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Wal-Mart....giving back to those who have served in the military!

Assistant 2 — Wed, 16 Jan 2013 21:04:00 GMT

NEW YORK — Why wait on Washington when there's Wal-Mart?

Wal-Mart Stores Inc., the world's largest retailer and the biggest private employer in the U.S. with 1.4 million workers here, said Tuesday that it is rolling out a three-part plan to help jumpstart the sluggish U.S. economy.

The plan includes hiring more than 100,000 veterans in the next five years, spending $50 billion to buy more American-made merchandise in the next 10 years and helping its part-time workers move into full-time positions.

The move comes as Wal-Mart tries to bolster its image amid widespread criticism. The company, which often is criticized for its low-paying jobs and buying habits in the U.S., recently has faced allegations that it made bribes in Mexico and calls for better safety oversight after a deadly fire at a Bangladesh factory that supplies its clothes. Wal-Mart said its initiatives are unrelated to those events, but rather are meant to highlight that companies don't have to wait for lawmakers in Washington, D.C. to fix the economy.

"We've developed a national paralysis that's driven by all of us waiting for someone else to do something," Bill Simon, president and CEO of Wal-Mart's U.S. business, said Tuesday at an annual retail industry convention in New York. "The beauty of the private sector is that we don't have to win an election, convince Congress or pass a bill to do what we think is right. We can simply move forward, doing what we know is right."

Any changes that Wal-Mart makes to its hiring and buying practices garner lots of attention because of the company's massive size. Indeed, with $444 billion in annual revenue, if Wal-Mart were a country, it would rank among the largest economies in the world. But critics say the changes amount to a drop in the bucket for the behemoth, and they question whether Wal-Mart's initiatives will have a major impact on the U.S. economy.

"America's largest retailers play an important role in our nation's economy and in the well-being of millions of lives," said Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union. "Retailers like Wal-Mart could provide the nation with a much needed economic boost by paying higher wages and providing stable scheduling – while still remaining profitable and continuing to offer low prices."

The centerpiece of Wal-Mart's plan is a pledge to hire veterans, many of who have had a particularly difficult time finding work after coming home from Afghanistan and Iraq. The unemployment rate for veterans who served in Iraq or Afghanistan stood at 10.8 percent in December, compared with the overall unemployment rate of 7.8 percent.

Wal-Mart said it plans to hire every veteran who wants a job and has been honorably discharged in the first 12 months off active duty. The program, which will start on Memorial Day, will include jobs mostly in Wal-Mart's stores or in its Sam's Club locations. Some will be at its headquarters, based in Bentonville, Ark. or the company's distribution centers.

Dave Tovar, a Wal-Mart spokesman, said Wal-Mart hasn't worked out the details but it will "match up the veterans' experience and qualifications." Simon, who served in the Navy, said that veterans have "a record of performance under pressure" and "they're quick learners."

"I think that Wal-Mart has a tremendous opportunity to leverage operational skills that today's veterans bring," said Sean Collins, director of G.I. Jobs, a magazine and web site that highlight employment, education and small business opportunities for veterans.

Wal-Mart said first lady Michelle Obama, who spearheaded a White House drive to encourage businesses to hire veterans, has expressed interest in working with Wal-Mart and with the rest of the business community on this initiative.

In the next several weeks, Simon said the White House will meet with the Department of Veterans Affairs, the Department of Defense and major U.S. employers to encourage businesses to make commitments to train and employ American's returning veterans. The first lady on Tuesday called Wal-Mart's announcement "historic."

"We all believe that no one who serves our country should have to fight for a job once they return home," she said in a statement. "Wal-Mart is setting a groundbreaking example for the private sector to follow."

In addition to hiring veterans, Wal-Mart plans to spend $50 billion to buy more products made in the U.S. over the next 10 years. According to data from Wal-Mart's suppliers, items that are made, sourced or grown in the U.S. account for about two-thirds of the company's spending on products for its U.S. business.

Wal-Mart said that it plans to focus on buying more in areas such as sporting goods, fashion basics, storage products, games and paper products. The commitment comes as economics are changing for making goods overseas: Labor costs are rising in Asia, while oil and transportation costs are high and increasingly uncertain.

But even with the additional $5 billion that Wal-Mart plans to spend each year – the breakdown of $50 billion over 10 years – the amount that the company will spend each year on buying goods in the U.S. will only account for 2 percent of its total spending in the country. In the fiscal year that ended in January 2012, Wal-Mart bought $238.8 billion in goods for its U.S. stores.

"They sound impressive when you first hear the numbers but when you begin to look at them, it's a very tiny scale that doesn't add up to much," said Stacy Mitchell, senior researcher at the Institute for Local Self Reliance, a nonprofit national research organization.

The final piece of Wal-Mart's plan is to help part-time Wal-Mart workers transition into full-time employment if they so desire. Among the strategies, Wal-Mart said it will make sure that its part-time workers have "first shot" at the full-time job openings in the stores in their area.

Wal-Mart said the move will give part-time employees much higher earning potential. About 75 percent of its store management start as salespeople, who earn an average of $12.47 hourly. Managers, the company said, can make an average of $50,000 to $170,000 a year.

"There are some fundamental misunderstandings out there about retail jobs, and we need to do better at explaining the opportunities we offer," Simon, Wal-Mart's CEO, said.

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Democratic National Convention economic impact: $163.6 million

The convention brought $91 million in new spending, study finds; hotel industry was the biggest winner

Wal-Mart....giving back to those who have served in the military!