Follow Up Two:Certified Radon Measurement Provider

March 25, 2008

Lynnsy Logue, The Real Estate Lady and Condo CanDo

Latta Pavilion: Following Up with a Certified Radon Measurement Provider

Michael Lewis is a highly qualified inspector with superb credentials and experience. You may check his background and service information at his website: www.mecklenburginspections.com.
I received this last night from Michael:

Radon
I am often asked “do I have radon in my home?”. The answer is yes. Radon is everywhere. It is the level of the radon and the expose time that is harmful. The EPA suggests that when the level in homes reaches 4.0 Pico curies per liter, remediation is needed. The common levels outside the home are usually 0.4 Pico curies per liter.

What is Radon? Radon is a colorless, odorless and tasteless gas that is produced by decaying uranium and radium. If it sounds scary, it is. Temperature, wind conditions, and air pressure, as well as behavioral factors, influence ventilation and concentration of radon and its decay products that may build up in a room. Efforts to improve insulation and preserve energy may often times make the situation worse. This means that your efforts to make your home more energy efficient make it harder for your home to breathe.

The use of stony building materials and ground conditions influence indoor concentrations of radon and its decay products. The leakage of radon from the ground shows great variations, and very high indoor concentrations can occur in one house, but not in another, even if located nearby. In general, the leakage of radon from the ground is usually more important than its emanation from stony building materials. Radon can even be located in the water, but is less of a threat than the levels in your environment, such as the home or work place.

The EPA estimates the amount of deaths caused by radon induced lung cancer is about 21,000 per year, second only to deaths caused by drunk drivers. Persons that smoke increase their chances greatly.

To test the levels of radon gas in your home, a certified radon measurement provider should be contacted. If the levels are at 4.0 Pico curies or more, mitigation will be necessary to lower the radon gas levels. For more information go to, www.epa.gov/radon/pubs/hmbyguid.html.


Mecklenburg Inspections, Inc.
Licensed NC and SC Home Inspector
Certified Radon Measurement Provider

As we discover/learn more information about Radon or if there are any further developments regarding Latta Pavillion, I will post them here.

Latta Pavilion: Two Follow-Ups. First, Tracking

March 24, 2008

Lynnsy Logue, The Real Estate Lady and Condo CanDo in Charlotte, NC

Latta Pavilion: Two Follow Ups. First, Tracking

When I began my series on Latta Pavilion and Radon, I put out a couple of emails to people in the business. The first reply is from a highly qualified construction professional who works with building condominiums, townhomes, single family homes and large apartment complexes. I asked him how one would begin to track aggregate used in such a project as Latta Pavilion.Here is his reply:
The only way you would be able to track down where the stone came from is to know who the concrete subcontractor was on that job. Then, you'd have to contact that subcontractor and get them to tell you who supplied them with the stone. Then, contact that supplier and ask them where they got their stone during the period of time they supplied to that subcontractor and, most importantly, for that particular job, because a large subcontractor will have several jobs going at once. And they may have an account with one supplier, but that supplier may ship to different jobs from different quarries depending upon the job location. Then, and only then, when you have tracked down which quarry the stone came from, you can then find out which concrete subcontractors the quarry sold to. Then, you'd have to contact those subcontractors and see if they could tell you if the stone they purchased from that quarry was used for slabs or flatwork (sidewalks). If they can tell you specifically slabs, ask them on which projects those slabs were poured.

Yes, it's some back-tracking, and alot of footwork. But that's the only possible way I know that you could track down that sort of information. I hope that helps!Next, I also spoke with a certified Radon Inspector and asked for his overview.

Coming Up Tomorrow: Certified Radon Inspector Comments on Radon

Latta Pavilion Is Sick. Getting a Read on Radon.

March 23,2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC

Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will try present the whole article as it appeared on February 22, 2008 in the Business Journal. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
GETTING A READ ON RADON
§ What is it? Colorless and odorless radioactive gas formed in rock and soil.
§ How does it get in your home or business? Leaks into basement or crawl space from exposed soil, rock. Also is present in building materials such as natural stone or rock.
§ How dangerous is radon? The EPA says radon causes 100 times more deaths than carbon monoxide poisoning. It is the second-leading cause of lung cancer.
§ How to check? EPA-certified radon test kits are available for $20 from hardware, discount stores.
§ How do you cut levels? Seal cracks, openings to prevent from entering via soil; ventilation to carry gas out of a building.
Source: Environmental Protection Agency

As there is follow up, it will be posted here!!!

Latta Pavilion Is Sick. Still Selling.

March 22,2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC

Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008 in the Business Journal. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:
Still Selling
In spite of the elevated levels of radon, people are still buying units at Latta Pavilion.
Allen Tate's Dilworth office has sold three units in Latta Pavilion since the radon was found. "We have not worked with any potential buyers who elected not to purchase in this community, based on this knowledge," says Jane Richey, the office branch manager.
Kindbom says Tate has been discussing the radon issue since it was discovered at Latta Pavilion. She says radon tests are not routine in Charlotte, but adds it's always better to be safe than sorry.
"It's a fixable problem that's not terribly expensive," Kindbom says. "My hope is that once this is corrected it will be a nonfactor."
Grubb says his company has moved quickly to try to resolve the issue. "We're not trying to hide our head in the sand."
He'd like to move forward with a mitigation plan that includes the fan installation in each unit over the next couple of months. "We'll have to work through whether this is a design issue, construction materials or an engineering issue. That part won't be fun."
Next: GETTING A READ ON RADON

Latta Pavilion Is Sick. Solving The Problem

March 21, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC

Chapter Two. Now you See It, Now You Don’t…
This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:
Solving the problem
Grubb is involved in a mediation process with Rodgers Builders, the executive board of the Latta Pavilion Condominium Owners Association Inc. and the project's designer, Charlotte-based FMK Architects.
"We have consulted with numerous experts and coordinated professional tests of many units as well as overall airflow in the building," the homeowners association said in a statement sent to the Charlotte Business Journal this week. "Based on what the experts tell us, we believe the primary problem is insufficient airflow between the units and the outside environment."
Association member Buck Lawrimore, owner of a communications firm who is acting as the group's spokesman, declines to comment on the issue.
In the written statement, the association says it's working with Grubb and Rodgers Builders to find a solution. So far, the focus is on installing fans that would funnel the gas out of the building. The cost: $5,000 per unit, or $1.3 million.
Grubb pledges that tenants won't bear any of the expense, but it's not clear who will.
Grubb believes a faulty ventilation system designed by FMK is the cause of the radon problems.
Not so fast, says Allan McGuire, managing principal at the architectural firm. He says his company designed Latta Pavilion to meet the Charlotte-Mecklenburg building codes, and it was constructed accordingly. "Nothing is unique about the Latta Pavilion system that would allow it to contain radon over other systems we have done."
Fong says he's unaware of any similar problem in a building in Charlotte. He's seen a few cases of high readings in buildings in Gastonia and Cherryville where soil conditions are more conducive to creating radon emissions.
McGuire says Grubb is ultimately responsible for delivering a safe building.
Rodgers Builders executives did not return calls.
"It's a weird, perfect storm of strange occurrences that are causing this," says Sandy Kindbom, who heads the uptown office of Allen Tate Realtors. Tate is the primary sales representative for Latta Pavilion and 1315 East Blvd., which was converted to condos from apartments in 2005.
Caught up in that storm are condo owners such as Brian Cowman, who moved into his $370,000 Latta Pavilion unit a couple of months ago, before the radon issue came to light.
Cowman says he's not concerned about the short-term health impact. He is worried about the potential damage to the value of his unit. "If you have place one and place two and there is an issue at one, you are going to choose place two."
There are currently 22 units in Latta Pavilion and the adjacent 1315 East Blvd. building listed for sale on the Multiple Listing Service, with prices ranging from $194,000 for a one-bedroom unit to $610,000 for a two-bedroom penthouse.
While residents do have a justifiable concern about resale values, North Carolina is a "buyer beware" state, says Thomas Miller, general counsel for the N.C. Real Estate Commission in Raleigh.
The state's real estate license law imposes upon real estate agents the duty to disclose material facts about the properties they list. But those rules do not apply to the seller.
Next: Still selling

Latta Pavilion Is Sick. Taking Measure

March 20, 2008
Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC

Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared in the Business Journal on February 22, 2008. Counting this, here will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
Here goes:Taking measure
Grubb forwarded the results to contractor Rodgers Builders Inc., the original Latta Pavilion contractor.
Bill Brodhead, president of Riegelsville, Pa.-based radon-mitigation service WPB Enterprises, was brought in by Rodgers to analyze the severity of the problem and to help find a cure. "We know there is a situation there. I can't answer who, where or when."
Because of local soil conditions, Charlotte is not a typical candidate for high levels of radon, a radioactive gas and carcinogen formed in the rock and soil from the breakdown of uranium. It occurs naturally and can be found in low levels almost everywhere.
The gas can also come from building materials such as concrete or stone fireplaces.
Brodhead found radon readings in Latta Pavilion units ranging from 5 to 10 picocuries per liter, the unit of measurement that quantifies radioactive particles. The EPA says radon is dangerous in the home at 4 picocuries per liter.
He sent the results to Felix Fong, radon program manager for the N.C. Department of Environment and Natural Resources' division of radiation protection in Raleigh, because the readings seemed to defy explanation. Radon typically pools in the lower level of a building because it seeps up from the ground. At Latta Pavilion, some of the highest readings were on the top floors.
Fong's explanation: The radon could be generated from the building materials inside the units. Radon is typically concentrated in areas with lots of granite, shale and phosphate in the soil. So building materials such as concrete or stone that originated from an area where radon occurs naturally at high levels would be a possible source.
If the radon in Latta Pavilion is coming primarily from building materials, Fong says the fix will not be easy. "Radon is a mysterious thing. It can slip in any crack or hole of a house."
Not so mysterious is the need to find a fix -- and someone to pay for it.
In a unit where the level of radon measures 8 picocuries, the chance for that resident to develop lung cancer is 14 out of 1,000, Fong estimates. By comparison, a pack-a-day smoker faces a 50 in 1,000 chance of developing lung cancer. Next: Solving The Problem

Latta Pavilion Is Sick

March 19, 2008

Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC

Chapter Two. Now you See It, Now You Don’t…This may require several parts but I feel compelled to talk about what I have read and ultimately who I will talk to about this and what links I can provide you the reader, the listener, the real estate consumer. This is serious. It is Radon. I think I will simply publish the whole story as it appeared in the Business Journal. I have been waiting for a follow up from someone…a newspaper, a radio report, a television, but nothing as of this date.I am going to put this on my blog as well. And will do my best to follow this through. This addresses my core concern…public health, public safety, consumer awareness.I will present the whole article as it appeared on February 22, 2008. Counting this, there will be five parts:
1.Latta Pavilion Is Sick
2.Taking Measure
3.Solving The Problem
4.Still Selling
5.Getting a Read on Radon
And as there is follow up, it will be posted here.
Here goes:Latta Pavilion is sick.
A colorless, odorless and potentially lethal gas has invaded the high-profile Dilworth complex, which is populated by condo owners, office workers, shoppers and two medical practices.
And while Latta Pavilion developer Grubb Properties Inc. promises to clean up the radon that is coursing through the building at levels at least twice what is considered safe, there's still a question about what exactly is causing the problem.
Getting rid of the gas is not going to be easy. Neither will be deciding who is ultimately responsible. And for owners of condos in the six-year-old building, the question isn't just how their property values are going to be affected. There's also concern about how long they've been exposed to the gas, which the Environmental Protection Agency says is the second-leading cause of lung cancer behind smoking.
The level of radon found at Latta Pavilion is anything but typical for Charlotte, which was precisely why it had gone undetected. No one was looking.
Charlotte developer Clay Grubb, president of Grubb Properties, says he got the call regarding high radon readings at Latta Pavilion, which includes the 1315 East Blvd. condo building, just before the holidays.
"At first, we didn't believe it," he says.
The company had sold more than 250 condos in the complex since it opened in 2002. None of the buyers had tested for radon. Neither had any of the office or retail tenants that occupy the first two floors of the building at East Boulevard and Scott Avenue.
It wasn't until a potential corporate client inquired about a condo that radon was on anyone's checklist. The company is based in the Northeast, where radon testing is part of the normal real estate purchase process.
The company's testing found radon. Lots of it.
Coming Up: Taking Measure.

Now You See It, Now You Don't...

March 18, 2008

Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC

Now you see it, now you don’t…
People ask me if I specialize in condominiums and I usually answer that I specialize in my clients. Years ago, when condos seemed to have a less than desirable reputation, when other real estate brokers didn’t care for that niche in the market, I decided that if no one else wanted it, I did. Funny thing, those condo buyers of sometimes small one bedroom condos or the room mate condos (two bedrooms, two baths) went on to buy their first homes, their second homes, their lake houses and well, you get my drift.So I learned to look at condominiums and town homes with a different set of eyes, a special measure to where there might be a problem. Or problems.For instance: Windows. Windows with broken seals. Windows that leak. Broken windows. Windows that need replacing and the association will accrue funds to do that and spend a lot of time talking about it. Windows. Whose responsibility are they in a condominium? It is written in the documents. Except for the part where the replacement is being discussed, the project is forthcoming, the details have yet to be hammered out, but the new buyer was never told and now there is an assessment for the windows. And only a short time after closing. Hmmm?
Water. Did you know that one of the most recurring problems with condos especially while under construction is water? If the pipes leak between the walls, in the ceiling, in the basement, in the attic, or after the last closing in the garage and in the footings? How do you know there was/is a problem? Whose responsibility is it? Remember in a condo, you own the air space. Documents? Read carefully.

This is another good one. If a town home community has four units attached to each other and three of the units have termite bonds…well, how effective is that? Is there anything in the governing documents that says a termite bond is a requirement?

This is a recent one. A high-rise with 40 units with average prices of 500,000 up and five stories is approaching 14 years old and maintenance problems are becoming larger…40 people are maintaining a mid-rise…How about a four story, ten units condo in Uptown Charlotte. Even with big bucks, long term, grab your calculator. Factor in maintenance.

The biggest and most fascinating mystery to me is Radon on the upper floors of a relatively new condominium in Dilworth. Catch it on the next installment.
Lynnsy Logue, The Real Estate Lady® and CondoCanDo®, Charlotte, NC
Registered Servicemarks 1989

March. In Like A Lion, Out Like A Lamb?

March 17, 2008
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
March. In like a Lion out like a lamb. ..
Sometimes, I feel compelled to speak out about what I see and hear. Sometimes,
I think being quiet and patient is more peaceful, but more and more I am learning
that faster is not necessarily better, skipping up the steps is not always prudent and
being as thorough as one can be is probably old fashioned. But as I approach my
70th year, I feel an obligation if only to myself to have conversations with myself
about this real estate business. Because while I never said when I was a little girl
that I wanted to be a real estate broker, it has been the perfect vocation for me in
this city I love so well and have for so long.
What are we thinking? For decades it was a requirement to have a termite
inspection. Once I helped a buyer with a two bedroom condominium downtown in The Poplar on the fifth floor. Their mortgage company required a termite letter.
Today, many of the lenders do not require a termite inspection for condominium, town home or single family home. Nothing. ln this city of trees with our usually high water table, termites must gather monthly to laugh and buzz over this latest non-requirement
as they munch away on walls of homes built on slabs, the crawl spaces in older and newer homes, the garages, the thresholds and on. I think having a termite inspector at the home with the structural inspector was one of the best protocols we used to follow. And many of us still do. Regardless.
Cheaper. Better. Faster. I have lived in my home for over four decades and
maintenance is like rearing twins. It is a full time job. Painting and cleaning, and
caulking and repairing wooden siding and wooden deck and wooden ramp. I
know sometimes I wished I would have taken the leap and paid $15 a month
more for all brick. ..but as a woman, I was lucky to get a mortgage at all. I might
have looked twice at vinyl, but even then, only twice. Now I see instances where
wind damage is greater, fire damage is more prevalent because of smaller, closer homesites. The latest wrinkle I learned from a super on a construction site: a home is wrapped thoroughly, the vinyl is installed and the pocket between the wrap and the vinyl can retain moisture. Sound healthy? Insert wheezing and coughing here.
And while crawling around in crawl spaces with the mold guys, I learned that the
up and coming thing might be to have a sealed crawl space without vents, no air, no
light, and a sump-pump...this new theory is probably based on the dollar. It is not
based on a simple theory of fresh air. That is my septuagenarian belief.
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC

In The Driver's Seat? Are You?

March 16, 2008

Lynnsy Logue, The Real Estate Lady® and Condo CanDo® in Charlotte, N.C.

In The Driver’s Seat…

The truth is, I could write a book about condominiums if I just kept a daily journal of what people tell me on the phone, what they write in emails and what I see and hear with my own ears and eyes. I have started a book on the basics, but mercy me, there is so much going on in Charlotte, N.C.

Maybe you can help me understand something. What will it take for buyers to comprehend that they drive the market? If buyers keep romancing granite and stainless, that is what the builders will deliver. And not necessarily the best or even better grade of granite and not necessarily a good quality on the stainless appliances. Then there are the cherry cabinets and the hardwood floors or bamboo or laminate. The descriptive words seem to sell the product. I have seen cabinets in half a million dollar condos that on a scale of 1 to 10, 10 being the highest quality, are about a 1.5. And this is by the manufacturer’s standard. I have been told by project managers that the crappy construction I see where flashing does not meet, trim is a course grade, interior doors are little more than sandwiched cardboard are all “urban design”. And I wonder why the consumers bite. In uptown condos admittedly we have a love affair going on with our “Disney-esque” view of the city. The Charlotte downtown/uptown area is small enough to be cute, compact enough (six blocks to the North, South, East and West) and that’s pushing it…

So you can take it all in. Charlotte city is new. The towers rise in the air promising another profile on the horizon, lights sparkling off the other towers. It goes on and on. The excitement is real. We like going uptown. Some of us, a lot of us, want to live there…whether it is a 350 square foot condo or a 2500 or larger square foot penthouse.And I think that is great. What I think is lacking is the consumers knowledge of what they are buying or trading. I truly believe most people spend more time buying a car than a home. And my goodness, a condominium is different from a single family home. I know you know that. Not unless you think it is a town home.Here is my point. If you are buying a condominium anywhere, have your own agent representing you. Ask questions about the quality of construction and the quality of the building products. Look or know about other projects these builders have built, this architect has designed. My prayer is that building as it takes on “green” may also take on more integrity. That builders and developers might honestly come to appreciate the genuine charm and history of Charlotte, its historic districts, its neighborhoods. I used to be hopeful but after all the sub-prime mess, I doubt it. I think that the money entrenched part of this business, real estate, builders, architects, developers, contractors and the like will keep on doing business as usual…until the consumers realize that they, the buyers are in the drivers seat.
Lynnsy Logue, The Real Estate Lady® and Condo CanDo®, Charlotte, NC
The Real Estate Lady and Condo CanDo are Registered Servicemarks 1989

Charlotte City Life-Part 2

February 12, 2008

City Life-Part 2

1.EpiCentreCollege and Trade Streets. Includes shops, restaurants, a hotel, entertainment and 210 Trade, a 53 story condominium tower.

2.Jackalope Jacks Moving from 7th Street location to an old Pecan Avenue Church in Plaza Midwood. Opening late 2008.

3.Founders Hall

Bank of America is renovating Founders Hall to add room for street-level retail. Renovations to begin in spring and expected to be finished by the end of 2009.

4. Whole Foods MarketFocus on South Park location. No opening date.

5. MetropolitanThe $225 million project on Kings Drive will include shops, condos, offices, restaurants and shops. Target and Home Depot are open. Other retail including Trader Joe's and Best buy will be opening in April and continue through early 2009. The condo lofts will open in June; the terraces to open late 2008.

Quietly, or not so quietly, the old Midtown Mall also known as Charlottetown Mall, has redefined, re-created itself. Out with the old and in with the new…and this time it was done without tearing down a precious part of our history…a grand old home or a stunning and classic period building. This time, the creek was uncovered after fifty years, some small incidental shops and a service station were relocated and presto! The greenway emerges. I see Midtown as the best of both worlds at this point…a stunning mini-river walk, a mix of office and retail plus the best of Home Depot and Target…close to Uptown, close to classy in town neighborhoods… And as Second Ward takes on its own persona it will create a link between Uptown and Midtown that is amiable.The uncovering of the creek from a concrete parking area…the reclaiming of the green space…and the versatility and ambiance of Midtown, plus it’s strategic location put it heading for “jewel” in the Queen City crown. I love this city!

Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC

Charlotte City Life, Part One-(Start Singing here...)

February 12, 2008
Charlotte City Life- Part 1…

How we gonna’ keep them down on the farm after…
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC


Towering over the city, the steel birds work every day...on South Tryon, they seem to have found a rich feeding ground...for there are many, silently pecking, or so it seems, at the ground around them in every direction.They are cranes. Building cranes. The ones made of steel that tower in the Carolina Blue sky against a backdrop of glistening new buildings, a mammoth called the stadium, and yes, off in the near distance, a pink glass tower.Welcome to the New South, a city that prides itself on its newness, yep, it's Charlotte, NC. Not Charleston, Chapel Hill, or Charlottesville. Charlotte.

Besides the focus on Uptown Charlotte Condos, there's much more going on here. I have heard it said and say it myself, we're building a city here. And it is hard to keep up with everything...so here is a list along with status. And it will change before it has a chance to be old. It seems that is our custom.City Life:

1. Spirit Square watercolor by Warren Burgess for AtHomeCharlotte.com)
The cultural arts center was originally supposed to be sold as part of the baseball stadium swap, but the property was taken out of the deal.Currently, a committee of residents, arts groups, and county staffers is studying how Spirit Square should be redeveloped.

2.Wachovia Arts Complex
The complex on South Tryon Street will include The Mint Museum, Afro-American Cultural Center, Bechtler Art Museum and Knight Theatre. The Mint is scheduled to be completed in early 2010; others will open in late 2009.

3.Uptown Baseball Stadium

The Third Ward Park will be a new home for the Charlotte Knights. The project which involves a complicated land swap ( see above Spirit Square note) is moving along. Officials hope the Knights will play there in 2009.

4. N.C. Music Factory

An uptown entertainment district. North of Fourth Ward in Center City. Outdoor stages, restaurants, bars, night spots, music venues, and other arts and entertainment businesses. A four lane road to the area should be complete this spring. Outdoor stages may open in late summer. Bars, cafes to open late 2008.

5. Uptown Dog Park
A 1.3 acres dog park will be built by Park and Rec in Frazier Park. Building in the spring with other dog parks to follow uptown.

6.Charlotte Trolley
The trolley will run on the light-rail line from Atherton Mill in South End to Ninth Street in Uptown. Open this spring or sooner.

7. NASCAR Hall of Fame

Ground was broken in February for the $157 million hall of fame next to the Convention Center on College St. To open in early 2010.

8. UNC Charlotte's uptown campusAt Ninth and Brevard streets, this classroom building is for for graduate level courses in business and architecture and others. Plans are being reviewed by the state construction office. Scheduled opening 2010.

9. Rhode Island School of DesignCenter City Partners is spearheading the effort to bring RISD to Charlotte. The branch if negotiations are successful would be located uptown.And this is just hitting the highlights in Charlotte.

On to City Life. Part Two!
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC

Charlotte Condos Proliferate In and Out of Center

February 8, 2008 almost

Somethings old, somethings new…all need close inspection.

Charlotte Condos Proliferate in and out of our city and over the boundaries…

I have spent much of today reviewing the raw data we received from the regional MLS office. We are posting the sold condominiums in 2007 by county, by zip and by complex. I had hoped to be finished this evening but am not. I began looking at all the new complexes for sale. Newly built or under construction condominium and town home communities in every direction here in Mecklenburg County, to the south of us in South Carolina and to the north beyond Lake Norman.

And I have a few comments about buying a unit in a newly constructed complex. Is the builder still there, is the community finished, how many are up for sale and what is the builder’s track record on warranties.Our market has gone from being a somewhat sleepy town to growing at a fast clip. Many of the builders I do not know nor have I heard of them but that means little. What it does mean is you should read the fine print and ask a lot of questions.In purchasing new construction, I recommend having a complete structural and mechanical inspection. Some folks think because it is new, there will not be any problems. But I have a friend who says how can we being do everything well if we are trying to do everything? I quite agree. I have been in and out of hundreds of condos and am often,repeat often, dismayed at the quality of construction and the quality of the building products. What has not been lacking is the ability of each layer of contractor, builder, job foreman, project manager to lay the blame on someone else. Even in the most expensive projects. I ask myself if you, the buyer, really cares…or maybe you just don’t know. If you don’t know, hire someone who does. Missing insulation, water heaters that are not connected, ducts that have fallen, johns that are not secured, doors that are not plumb, molding that doesn’t meet, paint that is sloppy…are simply not acceptable. Take pictures, put your complaints in writing and don’t close until it is right.

On the brighter side, in the statistics for 2007, what I notice most are the complexes that have no activity. Usually these are the jewels in Dilworth and Elizabeth, Myers Park, Eastover and in the ring of older neighborhoods surrounding the vibrant center city.I believe the resales of the older communities will fare well…these were most often built in the last ten to fifteen years, some perhaps older, and they are very well done…complete with tree lined streets and lovely neighborhoods.

Charlotte can tout a coming inventory of brand new condos in center city, a re-birth on the Westside taking shape in and around Bryant Park and running down the south side along the light rail. In that path you will find apartments and condos. Many of them. I look for density along the light rail.All in all, Charlotte’s marketplace is diverse and exciting. Just be careful. Do your homework and read the fine print.

Charlotte Condo Choices...Uptown Close and Elegant

February 6, 2008

Charlotte Condos…Many Fine Choices Close to Center City

It seems that most of the hoopla for condominiums has been directed to Charlotte’s Center City. Questions like, “Are there too many being built?” Comments like. “The price per square foot is going through the roof.” Yes, the towers get taller, the

In taking pictures for our eReports and the Tops report on CondoCanDo.com in the near to uptown neighborhoods, there are some stunning choices. First, Charlotte is a beautiful city and we tend to sprawl. But we are not Atlanta. Our Uptown is really small. Perhaps that is part of our charm. We are still people sized.

In nearby neighborhoods like Myers Park and Cotswold, folks should check out condos like Rosewood and 420 Queens, take a ride down Fenton Place to one of Brian Speas finished projects and see if there are any resales. They all boast beautiful construction, classic designs, and are within walking distance of shopping and a short hop to Uptown.

We are blessed to have such exquisite communities as Chipping on Camden, a real jewel off Providence…and then,of course, peppered along Roswell off Queens there are older and many more newer condominiums. And even a conversion or two. So while Uptown has the razzle, our regal older neighborhoods have some new gems worth checking out.

You can see recent photos of The Crillon, Boxwood, and Rosewood on our Tops Report on www.condocando.com.My intention is not to wag my finger at uptown…we are all excited to see and feel the vibrancy in the center city. Professional sports, Imaginon, The Children’s Theatre, the birth of Wachovia’s art complex, restaurants and pubs, the news of the Epi-Center, the swoosh of the light rail…all worthy of celebration. I think sometimes, stopping to smell the roses is a rich experience…if in stopping we look around to see the other flowers as well.

Back to work.

Lynnsy Logue, The Real Estate Lady and CondoCanDo, Charlotte, NC

In Between The Lines-Charlotte Condo Market-WHOA!

February 5, 2008
In Between The Lines…
Charlotte Condo Market…Whoa!

In Charlotte, NC, City of the Future, Top Market in Real Estate in the country, we, too, are seeing the slow-down. In our case, and I speak for myself, the delay of some condo projects in our center city was wise.And this slowing down is still on a rapid track with a profusion of cranes in our uptown.So what’s happening in the Queen City?

A major and most luxurious condominium project, One by Portman, was put on hold. For many reasons, the convergence of their opening announcement and the sub-prime news, maybe even their apprehension about being one of the most expensive projects, starting at 1.5 million per condo…but still wise. They can wait. Patience is good. Sometimes waiting gives us direction…redefinition. So good for Portman.

Another by Spectrum, 300 S. Tryon, has been put on hold. Also wise. Even though they say they had 72 units under contract. Again, waiting is good. Patience will pay off for both Spectrum and Portman and for the developers of the towers underway. And for the buyers on down the road…maybe not for the sellers of the then older units. In speaking with an agent in Atlanta about their market, she said they went gang-busters but then folks started to wait to see what the new ones would offer. This is what makes horse racing. For the moment we have some breathing room.

The third player has left the state according to the news. Beazer Homes had a significant community planned just blocks from center city. The land sits. All is quiet. But better to have not started than started and then left. Many of their communities were left unfinished or incomplete.

On our website, www.condocando.com everything is listed for the completed condo projects in Center City Charlotte aka Uptown along with sales figures from units sold last year. We are parsing the market by area and hope to stay ahead of the curve in getting the news out to you as quickly as we can.

2007 statistics for real estate sales in Charlotte and our region will be out soon.

Thanks for joining us.
Lynnsy Logue the Real Estate Lady® and CondoCanDo®.

Chapter 1-A Talking it Up!

February 5, 2008

Chapter 1.-A

Talking it up.Once the journey begins in looking for your new home…it is very much like looking for your next car. If you’ve got Honda on your mind, you look at every one you see…you compare styles and years, used and new…and it is as though that is the only car you can see. Until someone tells you about Toyota and another voice says Chevy and still another says Mazda. Whoa! Lots of incoming. Sometimes, it’s like that with the condo/townhome hunting process. People tend to love being involved and/or knowing about real estate. They have stories about their neighbors, their aunt, their own buying and selling…not to mention the great deals that tend to get a little embellished the more often the story is repeated. That’s real estate.

There is the actual physical property and then all of the various loan information. Probably made more simple with all the sub-prime focus. With few exceptions, I have been a proponent of the the thirty year fixed because in NC there is no pre-payment penalty and the interest rates have been so low…it is cheap money. And by being somewhat conservative, because we never know what will happen for sure, that commitment is like an insurance policy.

And after the “real” real estate, the money matters, the data sheets from the Internet begin piling up and the mention of forms for everything. I honestly believe that if you are a careful person you can get through this alone or with your partner without an angel's advocate. In this age of Buyer Brokers however, wouldn’t it be great to have an experienced ally, a seasoned guide, especially when the seller pays for your broker in most cases? And most often there is no price break for you if you are shopping on your own, or purchase from a seller marketing the home by themselves. This is not a promo to engage a Buyer Broker, it is simply a commentary. Our book is after all about YOU.

Looking for Real Estate. Profiles of Charlotte Condos-New.

87% of folks looking to buy or sell use the Internet. 67% still drive the streets. My own percentages look about the same. When looking for a buyer or a seller, I perform my due diligence on the web. What a fabulous gift the Internet is to those of us who used to spend the better part of our days in our cars. When I finish my web work, I hit the road. I look at condominiums/townhomes from the outside, the neighborhood, the surrounds, common areas, the roof, the general condition. Many I can check off before I make an appointment to preview. You can do the same as well if you have the time. A good time to double back and check a complex you like is on the weekend or in the evening. You can get a sense of the rhythm of that neighborhood and complex when most everyone is home. And as you get closer to making your selection, talking to the folks on the street and in the complex is also a good move.

How quickly can all this take place?

Very quickly. The looking and the canvassing are narrowed down by your choices on-line. Some of my folks have already looked up deeds, tax information and comps. Most buyers and sellers are very savvy and enjoy the process.A good client is like a good dance partner…the process becomes fun because you are both involved in gathering and sorting and making the decisions. The older I get, the more I know, I like hearing other folks’ opinions, and I enjoy sharing information and learning from my folks as well. I think once real estate was rather proprietary and the information was in many ways closed. Now with the Internet, people can learn the process, be more informed and be more secure in their decisions.

All good stuff!

Chapter One: What Prompted Your Decision to Buy a Home?Especially a condo or townhome?

January 17, 2008

Chapter One…What prompted your decision to buy a home? Especially a Condo or Townhome?

First, we talked about our plan for joining forces with all of you, your wonderful and not-so wonderful condo experiences, putting our pens together and writing the book for ourselves and everyone else-The Book: The Definitive Charlotte Condominium Tutorial and Workbook for Buyers and Sellers and the Rest of Us.

Secondly, we did our due diligence as the North Carolina Real Estate Commission wants…explaining about agency and who represents you and who we represent and how you know that information (it’s the brochure: Working With Real Estate Agents).

So, we are finally here…except the dedication. Drum roll, please…Here’s looking at you…my fabulous clients. Over the years we have traveled long and wide…through condominiums and town homes and co-ops…uptown, downtown, historic, suburbs, rural, office condos…together we have bought and sold many, many. Thank you, thank you for the rich experience.

Chapter One.
You have decided you are going to buy a condo or maybe a townhouse. I always like to know what prompted that decision? It matters.
Settling down as a single? What’s important?
Garage mostly for women.
Getting married?
Storage. Kitchen. Home office.
Expecting Children.
Stairs. Playgrounds. Accessible to schools.
Parent moving in or out.Split bedroom. Separated living quarters. Steps.
Divorce.
Legal issues. Finances. Custody.
Scaling down.
Sorting out s
Being patient. Doing homework.
Second home?
Tax balance.

Knowing what prompted this move is very important to the broker helping you.I always see my job as looking for problems and hurdles before they happen. And besides the financial aspect, what you want and need define the space. Helps sort through your options. Shortens the chase. And is really fun.

Real estate in my book should be fun and exciting…I believe taking your time, doing our homework, asking a zillion questions pay off.
I’ll take the questions I have posed and break them down and apart on the website.
Please join the conversation.
Your stories are most welcomed.

Thank you.
Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC

Maybe Long,Tedious:Law of Agency is Important

The Real Estate Lady® Important Information ALERT!

Working with Real Estate Agents

Who Represents You in a Transaction? Be Informed.

When buying or selling real estate, you may find it helpful to have a real estate agent assist you. Real estate agents can provide many useful services and work with you in different ways. In some real estate transactions, the agents work for the seller. In others, the seller and buyer may each have agents. And sometimes the same agents work for both the buyer and the seller. It is important for you to know whether an agent is working for you as your agent or simply working with you while acting as an agent of the other party.
This article addresses the various types of working relationships that may be available to you. It should help you decide which relationship you want to have with a real estate agent. It will also give you useful information about the various services real estate agents can provide buyers and sellers, and it will help explain how real estate agents are paid.
SELLERS
Seller's Agent
If you are selling real estate, you may want to "list" your property for sale with a real estate firm. If so, you will sign a "listing agreement" authorizing the firm and its agents to represent you in your dealings with buyers as your seller's agent. You may also be asked to allow agents from other firms to help find a buyer for your property.
Be sure to read and understand the listing agreement before you sign it.
Duties to Seller:
The listing firm and its agents must
promote your best interests
be loyal to you
follow your lawful instructions
provide you with all material facts that could influence your decisions
use reasonable skill, care and diligence, and
account for all monies they handle for you.
Once you have signed the listing agreement, the firm and its agents may not give any confidential information about you to prospective buyers or their agents without your permission so long as they represent you. But until you sign the listing agreement, you should avoid telling the listing agent anything you would not want a buyer to know.
Services and Compensation:
To help you sell your property, the listing firm and its agents will offer to perform a number of services for you. These may include
helping you price your property
advertising and marketing your property
giving you all required property disclosure forms for you to complete
negotiating for you the best possible price and terms
reviewing all written offers with you and
otherwise promoting your interests.
For representing you and helping you sell your property, you will pay the listing firm a sales commission or fee. The listing agreement must state the amount or method for determining the commission or fee and whether you will allow the firm to share its commission with agents representing the buyer.
Dual Agent
You may even permit the listing firm and its agents to represent you and a buyer at the same time. This "dual agency relationship" is most likely to happen if an agent with your listing firm is working as a buyer's agent with someone who wants to purchase your property. If this occurs and you have not already agreed to a dual agency relationship in your listing agreement, your listing agent will ask you to sign a separate agreement or document permitting the agent to act as agent for both you and the buyer.
It may be difficult for a dual agent to advance the interests of both the buyer and seller. Nevertheless, a dual agent must treat buyers and sellers fairly and equally. Although the dual agent owes them the same duties, buyers and sellers can prohibit dual agents from divulging certain confidential information about them to the other party.
Some firms also offer a form of dual agency called "designated agency" where one agent in the firm represents the seller and another agent represents the buyer. This option (when available) may allow each "designated agent" to more fully represent each party.
If you choose the "dual agency" option, remember that since a dual agent's loyalty is divided between parties with competing interests, it is especially important that you have a clear understanding of
what your relationship is with the dual agent and
what the agent will be doing for you in the transaction.
BUYERS
When buying real estate, you may have several choices as to how you want a real estate firm and its agents to work with you. For example, you may want them to represent only you (as a buyer's agent). You may be willing for them to represent both you and the seller at the same time (as a dual agent). Or you may agree to let them represent only the seller (seller's agent or subagent). Some agents will offer you a choice of these services. Others may not.
Buyer's Agent
Duties to Buyer:
If the real estate firm and its agents represent you, they must
promote your best interests
be loyal to you
follow your lawful instructions
provide you with all material facts that could influence your decisions
use reasonable skill, care and diligence, and
account for all monies they handle for you.
Once you have agreed (either orally or in writing) for the firm and its agents to be your buyer's agent, they may not give any confidential information about you to sellers or their agents without your permission so long as they represent you. But until you make this agreement with your buyer's agent, you should avoid telling the agent anything you would not want a seller to know.
Unwritten Agreements:
To make sure that you and the real estate firm have a clear understanding of what your relationship will be and what the firm will do for you, you may want to have a written agreement. However, some firms may be willing to represent and assist you for a time as a buyer's agent without a written agreement. But if you decide to make an offer to purchase a particular property, the agent must obtain a written agency agreement. If you do not sign it, the agent can no longer represent and assist you and is no longer required to keep information about you confidential. Furthermore, if you later purchase the property through an agent with another firm, the agent who first showed you the property may seek compensation from the other firm.
Be sure to read and understand any agency agreement before you sign it.
Services and Compensation:
Whether you have a written or unwritten agreement, a buyer's agent will perform a number of services for you. These may include helping you
find a suitable property
arrange financing
learn more about the property and
other-wise promote your best interests.
If you have a written agency agreement, the agent can also help you prepare and submit a written offer to the seller.
A buyer's agent can be compensated in different ways. For example, you can pay the agent out of your own pocket. Or the agent may seek compensation from the seller or listing agent first, but require you to pay if the listing agent refuses. Whatever the case, be sure your compensation arrangement with your buyer's agent is spelled out in a buyer agency agreement before you make an offer to purchase property and that you carefully read and understand the compensation provision.
Dual Agent
You may permit an agent or firm to represent you and the seller at the same time. This "dual agency relationship" is most likely to happen if you become interested in a property listed with your buyer's agent or the agent's firm. If this occurs and you have not already agreed to a dual agency relationship in your (written or oral) buyer agency agreement, your buyer's agent will ask you to sign a separate agreement or document permitting him or her to act as agent for both you and the seller. It may be difficult for a dual agent to advance the interests of both the buyer and seller. Nevertheless, a dual agent must treat buyers and sellers fairly and equally. Although the dual agent owes them the same duties, buyers and sellers can prohibit dual agents from divulging certain confidential information about them to the other party.
Some firms also offer a form of dual agency called "designated agency" where one agent in the firm represents the seller and another agent represents the buyer. This option (when available) may allow each "designated agent" to more fully represent each party.
If you choose the "dual agency" option, remember that since a dual agent's loyalty is divided between parties with competing interests, it is especially important that you have a clear understanding of
what your relationship is with the dual agent and
what the agent will be doing for you in the transaction.
This can best be accomplished by putting the agreement in writing at the earliest possible time.
Seller's Agent Working With a Buyer
If the real estate agent or firm that you contact does not offer buyer agency or you do not want them to act as your buyer agent, you can still work with the firm and its agents. However, they will be acting as the seller's agent (or "subagent"). The agent can still help you find and purchase property and provide many of the same services as a buyer's agent. The agent must be fair with you and provide you with any "material facts" (such as a leaky roof) about properties.
But remember, the agent represents the seller—not you— and therefore must try to obtain for the seller the best possible price and terms for the seller's property. Furthermore, a seller's agent is required to give the seller any information about you (even personal, financial or confidential information) that would help the seller in the sale of his or her property. Agents must tell you in writing if they are sellers' agents before you say anything that can help the seller. But until you are sure that an agent is not a seller's agent, you should avoid saying anything you do not want a seller to know.
Sellers' agents are compensated by the sellers.

In Between The Lines-January 13, 2008

Our Charlotte Condominium Tutorial and Workbook is off and running! Thank you for your response. Before I post the next chapter, I would like to answer the question posed by a reader from CurrentTV.com…NC-Why Condos? Good question.For starters, it’s condos because having an interest and a passion for condominiums led to becoming a recognized expert. Now, I do not let that go to my head. There are over 11,000 agents in Mecklenburg County and everyone vies for a piece of the pie.The “Condo” pie, however, can be more difficult and challenging than single family housing. From construction to financing, the path is long and winding. For instance there is a difference in financing options between condominiums and townhouses. And when a structure looks like a townhouse, it may well be a condo. So do you still need a survey?And if it’s a condominium and you have refurbished the kitchen with granite and installed hardwoods throughout…oh, wait, wait…if you are on the second floor are you allowed to install hardwoods?I am hoping that “the book” will cover all of the basics as well as many of the nuances.Please join the conversation. Check out our website : CondoCanDo.com and you’ll find other interesting tidbits…like how many condos and townhouse in Charlotte have the word “Park” in their name.
And how many duplicate names are there?

Park Avenue, Park Lake, Park Laurel, Park Phillips, Park Place I, Park Place, Park Place, Park Plaza I, Park Plaza II, Park Plaza, Park Square, Park West, Parkhill, Parkside, Parkside Townhomes, Park View, Parkview and More.

Why Condos? It is where I started. Yes, my brokerage covers horse farms,warehouses, commercial, McMansions...after all, most of those early condo owners were upwardly mobile. Thanks to them for letting me be their Broker then and now! .

It Was A Dark and Stormy Fall...

It was a dark and stormy fall…little used words like “sub-prime”, kept flying through the air. Here In Charlotte, NC, Condo CanDo and I, The Real Estate Lady, just keep reading and comparing the national market with our local market. The Charlotte market is experiencing different woes. People can’t sell what they have in other states to get here, to make purchases of homes in Charlotte, NC. And the other problem is really not a problem. The correction to over-building was inevitable.. Builders overbuild. And they really have here in Charlotte. We’ve had our share of sub-prime, N.C. is 24th on the list of states with foreclosures. Charlotte is a robust market and our foreclosure rate is equally robust. But all in all, Charlotte fares better than most. Our ranking is in the top three cities for appreciation with a modest 4.6%. One of our biggest challenges right now is the proliferation of high-rise condo towers in Center City Charlotte. I will detail that on our website: www.condocando.com.

And, of course, being a long-time, well experienced full-time real estate broker, I asked myself,”What can I do to help folks sort this out. ? ” Condo CanDo, my stalwart companion all these years came once again to the rescue. She said, “Let’s tell them what we know. Everything!” “Great idea, CC”…and she added,”Let’s invite them in on our conversation about Charlotte’s Condo Market, what’s happening and where, but most importantly about buying and selling condos here.” We both looked at each other and smiled. We were laughing because we are performance oriented, love the Internet and enjoy people teaching us.So, we sharpened our pencils…loosely translated to “ fired” up our new laptop and put on our thinking caps.

1.Condo CanDo and I will write a Tutorial and Workbook for Buying and Selling Condominiums in Charlotte,NC. The process will be organic. We will make changes, you can make comments,tell your stories, make suggestions.

2. We will write a chapter every week. We’ve created a loose outline. The chapters will be posted on our CondoCanDo website: www.CondoCanDo.com. After posting the written word on the CondoCanDoBlog, we will also have a commentary on each chapter on this podcast.

And this is where you come in…we invite you to comment, add information, offer suggestions or your own story about condos right here. We are listening. The conversation has started. Let us hear from you.
What do you want to know? We’re specialists. If we don’t know, we’ll tell you and go find the answer.

We’re off and flying.

The Real Estate Lady® and Condo CanDo®, Charlotte, NC
January 8, 2008

Being There...Antarctica 2003

I have heard it said that a picture is worth a thousand words...here is my book on a most beloved and beautiful place...catch it while it still exists.

August 16, 2007

Charlotte Condos As Investments. I’m Chicken Except…

Late last night after I checked my day’s work and tucked the big dogs in bed, I sat and surfed. It is amazing what sites come up at midnight and are hard to find the next day. But it’s interesting. Before surfing, I thought I would tackle M and M’s as my next subjects: Mortgages and Management Companies. Instead I cringed when I came across a website that spoke to Uptown.In essence, this person was hawkin’ “Come On Down”…referring to Uptown Charlotte.First, the North Carolina Real Estate Commission frowns on our using our crystal balls. And our own good sense might well do the same. The one thing I know for sure, the only thing I know for sure, is that I cannot predict appreciation. I can speak to my perception of the marketplace. Period.So when I read about the number of sales and the prices and the towers and on and on…and how this is the place for investors because of the promise of appreciation and substantial gain, I say “Whoa”. I talk with other brokers and some of us are being very cautious for our clients…some of us are suggesting condominiums outside the Uptown Loop…because some of us think the preponderance of small, most often one bedroom condominiums are headed for a definite unknown future. If there were a way we could parse the purchasers so we could know how many investors were involved with a project, we might have a more clear picture…and some might say, well, there is a cap on investors. Perhaps, but is there a cap on “second homes”?
In SouthPark, there is a handsome new project where today there are 40 units for sale. That conservatively is about 25% of the project. Certainly, that project will change as other retail and businesses come aboard, but what if that were your primary residence?
In some states, there are laws that prohibit rentals in some multi-family projects…rentals may occur only in dire circumstances. I can only hope that our legislature would take a look at that concept for North Carolina.Back to Uptown.
I have a friend who was asked to do a feasibility study for one of the towers. Their answer was, “No”. And then asked why, their answer was “ because I don’t think it is feasible”. Consider that in this market the same folks who often do the feasibility studies for the developers are also the spokesperson to the media. So who do you believe?
I am a cautious person. I believe you should be able to get out of whatever you get into…with relative ease and minimal heartache. The normal angst precludes not being able to get a mortgage on your place because there are too many investors. Not being able to get out financially because you are competing with not only new construction but also other, lots of others, in the same marketplace. How many one bedroom condominiums can our Uptown accommodate? Today? In the next 5-7 years.
Then let’s think logically…Charlotte is still growing. There is land close to uptown, close enough to build more towers, more mixed use and still have access to the city. Hmmm.Would I rather be able to walk my dog in the neighborhood park, actually have a grocery closer by, have more than 550-750 square feet, be able to hop to the Y as well as the night life and pay less than $300 a sq ft.? Hello!
Of course, there are folks who do use the Uptown condominiums as their city pad…some folks do use them as a second home. I am speaking to the general population for whom this is their primary residence, their biggest investment. Single folks just starting out, young marrieds enjoying the street scene, the night life and the glitz.
Charlotte is a great little city…growing, energetic, vibrant. The streets are sometimes paved with good intention, the air is less than pure, the people represent both the best and the worst and the mantra or at least, my mantra is always, “Caution, caution”. Even as a real estate broker specializing in condominiums.
Lynnsy Logue. The Real Estate Lady® and Condo CanDo®
Charlotte's Condominium Specialist since 1986

Charlotte Condominium Conversions

August 15, 2007

Conversions: Charlotte Condominiums

Something Old, Something NewSome Converted…aha…yet another twist for Charlotte Condominiums…
As I think about the various elements, the variety of processes in the world of real estate most specifically, Charlotte Condominiums…I consider “ conversions”.
A conversion would be a property which has been converted to a condominium. A property which had another use, for instance:
Apartments are the most likely candidate for conversions. Property that was initially built as an apartment and at some point in it’s life span was converted to a condominium.
Cotswold Homes, brick gardens, were built as apartments. At first glance, you might think they would qualify as town homes. Because of their construction, they had to fall into the legal category of condominiums.
Selwyn Village off Wakefield has a town home configuration as well as flats. Obviously they converted to condos from apartments. One clue on the earlier conversions is the tell-tale central laundry facility. And often a central heating system accompanied the apartment status.
Alson Court in Eastover is another conversion. Stately brick with hardwood floors and a handful of carports.
There are many conversions throughout the older sections. My favorites are the handsome old Myers Park mansions that were converted from single family to two or three condos. I applaud that innovative thinking and that was many, many years ago.We might see more of that down the road.
Favorite stories are the apartment/condo/apartment/condo status of Heathstead. One of the largest, if not the largest, condominium complexes in Charlotte. In the SouthPark area, it was one of the pioneer projects and was built by Crosland.
Another favorite in SouthPark is Trianon…and I almost see that being a tear down someday. Precious and pricey location. Still has central heating plant.
Uptown, the elegant Poplar was once apartments. New York flair, solid, classy it was converted long ago and is a coveted location.
Fifth and Poplar started off as Condos but the market was soft and they went to apartment status but I suspect the construction is more to the liking of condominiums. Unlike some apartments which have been converted.
Sometimes I get the feeling that an apartment building, complex, is being built with the eventual intention of conversion because the construction is less costly for the apartments in some cases.
Unique conversions:
Settler’s Place: on North Church St. Adjoins historic N.C. Medical. Five stories. Six units were prior to new building. These units receive tax credit because of historic designation. Newer units face the old cemetery.Exterior construction is EFIS.
2 parking spaces, deeded storage in basement. Older units (5) share rooftop terrace; 16 new units, each with private terrace.
St. Peter’s
Conversion 1996. Historic building. See AtHomeCharlotte.com Walking Tour. Renovated in early 80s. Parking is off W 6th St Complex is at Poplar St and 6th St. Some 2 story units, some three. Exposed brick walls/wood floors. Flats as well as townhouse styles. Basement storage.
Alexander House, Elizabeth-Colonial Heights Pictured above
Conversion. Built in 1917 and converted to condominium in 1993. 509 Clement Ave. Clement Ave was originally constructed to accommodate the trolley so it is wider than most streets and has a boulevard effect. Total of five units at Alexander House.
One of my favorites is in Elizabeth. Built as a condominium for residential use, it has zoning for Office.
Business and warehouse converted to condominiums? You bet. There’s Factory South and Atherton Mills.
The cautionary flag I would throw on a conversion is the construction. And not just the new hardwood floors, the updated kitchens with granite and snazzy new bathrooms…hire an inspector to go over the unit with a fine tooth comb. Both structural and mechanical.Of course, that goes for any property. Yes, even brand new…especially brand new.
That is for another day.
Meanwhile, I suggest “Googling” convert apartment to condominiums. Fascinating and good information.
Thanks for tuning in, Lynnsy Logue, The Real Estate Lady and Condo CanDo, Charlotte, NC, Charlotte’s Condominium Specialist

Charlotte's Many Voices

August 14, 2007

The Planning Commission, the Zoning Department, Home Owners and Neighborhood Associations.

Charlotte-Mecklenburg has a large and capable staff of good folks at The Planning Commission. They have an excellent map-making department, a superb graphics department, they have numbers and statistics folks with lots of experience and they have visionaries, too. It amazes me how we sometimes do not listen and take into account their recommendations. Doesn’t that make you wonder? Recently, zoning was passed by the governing body for a project in Dilworth that both the Planning Commission and the Neighborhood Association opposed.I read an article recently from Seattle…it spoke to the longing many years ago for the community to be involved in the planning of their city. Community formed, community spoke and with little avail. Money speaks louder make no mistake about it…if it’s in the form of the possibility of increased tax revenues or another source of income…we see it happen time and time again. And if community wins once…wait…for the developers can often outwait the community. It has happened before and it will happen again. Axiom.
Zoning. How do they keep it straight? We have to have smaller home sites so we can have more homes. We court density thinking it is the only saving grace, the only answer to an energetic, burgeoning town. Smaller home sites, more vertical homes priced higher and higher each year. And just for fun, do you think there is a limit on the number of one bedroom condominiums in uptown Charlotte? Okay, here is a puzzle. There was an article about the Light Rail and how there are building permits for 7300 residential units along the rail. Now there is also a report that informs us that in the last quarter of 2006 there were 7300 building permits for condos. There is probably some overlap, but when asked, I was told they are not the same.
The very neighborhoods with their charm and ambiance that brought folks here are changing. Maybe it is inevitable. We are a people who fancy “more”. I keep wondering if other cities go through this…where neighborhoods change and streets change and the Mom and Pop shops and restaurants can’t compete and pretty soon, Charlotte as we know it, knew it, is gone.
In my sleepy, country neighborhood, we have a strong neighborhood association because builders have found us and try to build more houses than our covenants and restrictions call for. We want to maintain the integrity of our neighborhood, we stand close, chip in, hire an attorney, speak out, fight back. Part of this process has been fun…we have a website, an email newsletter and we get together more often. Look for the good, cherish the positive.

I have a friend who is a personal trainer…she says we “tear” the muscle apart to build the muscle stronger. Maybe it is that way with cities. I have lived in Charlotte for over 50 years. I love this place like no other. I can recall another time…and I am grateful that we live in this vortex of growth and change. I wish only for old-fashion kindness.

Beginnings ARE Difficult, Especially When Defining Charlotte's Condo Market

Podcast August 13, 2007

Beginnings ARE Difficult…Especially When Defining Charlotte’s Condo Market

Many of us in the real estate profession are shaking our heads in wonder, amazement and amusement about the Condo landscape in and around Charlotte, NC. So what must the general public be thinking? Or how about the developers and builders? And the mortgage folks? Then there’s the planning commission, the zoning department, the water and sewer department, Light Rail. Oh, and let’s remember, the management companies. Oops, then there’s current events-the mortgage debacle. And past events, the cycle of overbuilding-the lure to investors in an energetic, glitzy market. Oh, my-where do I start?

With the basics.
I believe that there are many levels available for scrutiny and I have learned that old axioms age well because of their simple truths.
Cycles:
Many years ago in Uptown Charlotte NC, condominiums in Center City Charlotte were built in http://www.athomecharlotte.com/walking/index.htm Fourth Ward and in Third Ward. They were, by and large, smaller complexes, except Springfield Square and by the sheer nature of Condominiums then, pretty avante-guard. Locale lenders encouraged this residential concept and granted loans to encourage buyers…many of the loans, however, were adjustable or balloons of 5 to 7 years. And as time rolled forward and folks were moving up and out, re-financing became tough and selling became tougher. Enter rental property. Then, of course, any buyers who would come would have a tougher time getting a loan because of the higher investor ratios. Condominiums got a bad name. Not because of the concept but because of the variables in the marketplace. Cycles happen. (to be continued)
Less is More.
Charlotte, NC used to be a sleepy southern town. For many years Charlotte ranked in the top markets, the ADI…Charlotte was a great test market for the likes of Proctor and Gamble…but no one else except the natives could differentiate between Charleston, Charlotte, Charlottesville or Chapel Hill. We were safe. You couldn’t find us easily. So we had condominiums and townhomes in the inner circle around downtown/uptown Charlotte, condominiums out a little…Raintree, Quail Hollow, SouthPark (before it was SouthPark), on the East side off Central, off Kilborne, off Hickory Grove (now W.T. Harris), out Mint Hill way, off Lawyer’s Road…and then an accelerated spurt in the late 70’s, early 80’s off Carmel. But you get my drift. We had condos and townhomes…and once again, the tick of the cycle. The builders in my opinion overbuilt. (to be continued).
Buyer Beware.
I have a friend who says of the world, how can you do anything well when you are trying to do everything? I see that now in new construction: poor building materials, poor construction. Lack of attention to detail. Re-direction of responsibility. And on the buyer’s side: lack of knowledge, lack of qualified representation, lack of patience. (to be continued.)
No Such Thing as a Free Lunch
Free furniture, free closing costs, free home owner’s dues, free mortgage, free moving…
Hang-on to your hat because there is almost always an underlying reason. Builders are rarely going to give anything away unless they need to…and if they need to, the buyer needs to be able to read the signs…and make the situation work for them. We live in a capitalistic society and it is driven by profit. Money. (to be continued.)

Thanks for tuning in...got questions? I am listening.Lynnsy Logue, The Real Estate Lady/ Condo CanDo, Charlotte, NCCharlotte's Condominium Specialist

Charlotte NC Condo CanDo®...Condominium Specialist

http://www.CondoCanDo.com


Charlotte, NC July 5, 2007

What do we know about the condominium market in Charlotte, NC?
All that glitters is not gold.
How do resales compare with new construction?
Depending on location, resales are enjoying some snap and my feel is the consumer still preferes new construction over older units in many cases. Something about the lure of granite and stainless.
What about all those high rise towers in the Uptown area?
I frankly think it's scary. Just for fun, look at building permits for the 4th quarter of 06 for condominiums and then ask that question.
What about condos as investments in Charlotte?
Snobbery is not my forte, but a high concentration of investors in any project on any street be it attached housing or single family homes is less than desireable. No kidding, folks.
What would you look for in a condominium?
I have a basic belief that a person should be able to exit with all reasonableness...price, time, etc.
I tend to look to 3 to four years from now.
How long have you been specializing in condominiums in Charlotte, NC?
More than 20 years.
Got a question? We'd be delighted to hear from you!
Condo CanDo® aka Lynnsy Logue, The Real Estate Lady®
Both Condo CanDo® and The Real Estate Lady® are Servicemarks of Lynnsy Logue and due all Servicemark Protections from USPTO.

http://www.CondoCanDo.com

Condominium Assessments...A Wake Up Call!

Besides writing about resales in the Charlotte Condominium market, I will share from time to time the priceless jewels that come across my path...and this one is a classic! From the Tar Heel Realtor Newsletter, February 2005...A Question to the Forms Guy from an agent in NC.

Dear Forms Guy,
I have a listing on a condo. It's under contract and was supposed to close yesterday, but there's a problem. When I took the listing, the seller told me he had read in his association newsletter that bids on repainting the exterior of all the units in the complex had come in considerably higher than anticipated, and that there might be a special assessment to cover the increased costs. I called the treasurer of the association and he told me that the association's board had discussed the possibility of an assessment at its last meeting but hadn't voted on it yet. Even though the assessment hadn't been approved, to be on the safe side the seller checked "Yes" to question No, 19 on the Residential Property Disclosure Statement and wrote in "ASSESSMENT TO PAINT ALL UNITS BEING CON- SIDERED BY OWNERS' ASSOCIATION" in the blank at the end of the Disclosure Statement. We got a good offer on the condo, and I wrote the exact same wording in the first blank in the "Special Assessments" section (paragraph 6) of the Offer to Purchase and Contract. I wrote "N/ A " in the second blank in paragraph 6 since the assessment had already been disclosed on the Disclosure Statement and in the first blank in paragraph 6 of the Offer.
The board voted to approve the assessment a week before the closing date. It will be paid in 12 monthly installments beginning in two months. When the closing attorney's paralegal faxed me a copy of the HUD-I settlement statement the day before closing, it showed the assessment as the seller's obligation. I called the attorney and told her in the nicest way I knew how that her paralegal had screwed up the HUD-I. She told me the contract clearly stated that the seller was obligated to pay the assessment. What I want to know is, how can that be? Number one, the seller disclosed the assessment on both the Disclosure Statement and the Offer. Number two, it's not even payable until after the closing date anyway.
Would you do me a little favor and call the closing attorney and set her straight? Signed, Mighty Miffed
Dear Mighty Miffed, I'm mighty sorry, but I think the closing attorney is right. There are two blanks in the Special Assessments paragraph of the Offer to Purchase
and Contract form (standard form 2-T), and they serve very different purposes. In the first sentence of paragraph 6, the seller warrants that there aren't any pending or confirmed special assessments. If there are any pending or confirmed special assessments, the blank at the end of that first sentence is where the seller must describe them.
The second sentence of paragraph 6 is an agreement between the buyer and seller about who will be responsible for any pending or confirmed special assessments that may exist. The way the pre-printed wording reads, the seller is responsible for any special assessments that may be "con- finned" through the time of closing, and the buyer is responsible for any special assessments that may be "pend- ing." According to the Guidelines for Completing the Offer to Purchase and Contract (standard form 2G), "[a] ' Confirmed ' assessment is defined as an assessment that has been imposed by a governing body. A 'Pending' assessment is defined as an assessment that is under consideration by a governing body." If the parties agree to
vary the pre-printed wording about who is responsible for the payment of any assessments, that agreement needs to be set forth in the blank at the end of the second sentence. In your situation, the seller properly disclosed the existence of the "pending" assessment in the first blank in paragraph 6. However, just because the seller disclosed it doesn't make the buyer responsible for paying for it. Since the condo association board approved the assessment prior to closing, the second sentence of paragraph 6 states that the seller is responsible for it unless otherwise agreed in the blank at the end of the sentence. Since "N/ A " was inserted in the second blank, the parties did not agree other- wise, and therefore, the assessment is your client's obligation. Also, it is immaterial that the owners won't actually begin paying for the assessment until after the closing date. The assessment was "confirmed " when it was
imposed by the board, not when it becomes payable by the owners.
Sincerely, Forms Guy.
NCAR, 4511 Weybridge
Lane, Greensboro, NC 27407.

Charlotte's First Condominium built by Kathryn Smetana

Kathryn Krause Smetana
Built the first condominium in Charlotte in 1970. With great care she built Gaynor Arms in Randolph Park at Cotswold. This is her story.
She was born September 15, 1910 in Philadelphia, Pa. Her parents were Michael and Catherine Krause.
She went to school in Philadelphia until she was fourteen years old. Then she went to work with Apex Hosiery Company in Philadelphia. She went to Continuation School to complete her high school education while she worked. At sixteen years of age she left Philadelphia and came south. She worked several years in the Greensboro area and became quite proficient in all of the production jobs associated with the manufacturing of women’s hosiery. Soon she became an instructor, and it was not long before she was quite in demand to teach her skills. Whenever a new mill opened, Kathryn was hired to train the women in production. And her jobs took her to the Concord area and to Gastonia. As soon as the manufacturing plant was up and running smoothly, she would go to another start-up mill.
In the late thirties, Otto Smetana opened a new mill in Monroe, NC and hired Kathryn to train the staff in production. This time she stayed and married Otto.
After World War II the hosiery business changed drastically. The stocking that had the seam up the back was called full fashion. Rather than convert the plant to make hosiery as it is today, Otto Smetana sold the mill and retired from the hosiery business. He and Kathryn traveled extensively throughout the USA.
Otto and Kathryn built a bowling alley, Park Lanes, near Park Road Shopping Center. They later sold it, but Kathryn and her brother in law ran The Wash Bowl Laundry in the basement of the bowling alley. Otto and Kathryn lived in a home on Ferncliffe Drive during this time. Otto passed away in the early sixties.
Kathryn got the building bug and decided to build a condo. The plans and specs were started in the late sixties and Gaynor Arms was started in 1970. Kathryn gave thought to every detail including security, storage, elevator, central laundry, clubroom and covered parking.
After completing Gaynor Arms, she moved to Florida and built four houses there. She stayed on in Florida for seventeen years, but in 1986, returned to her condo at Gaynor Arms.
Kathryn passed away January 23, 1998.
A long and cherished friend of Kathryn’s, Al Busedu, was kind to write this story in memory of his friend.
Thanks, Al…another Angel.

Journey of a 1000 miles begins...

Okay, now that I have written a little about who I am and where I am from, let's begin with what my intention is for this blog. I enjoy this Charlotte market...it is interesting to observe the changes in the last several years. Charlotte is growing, the marketplace tries to accommodate the change, people come for jobs, people come to be with their children, people come because the climate is pleasant, people come because Charlotte is a good place to raise a family. Our real estate changes...patio homes and condos to suit the beginners and the empty nesters, condos and townhomes to suit the single professionals, million dollar+ homes for those coming from the larger markets. People come...to invest, to live, to start their lives.
Real estate technology changes...from a big, thick weekly book with all the listings to terminals to the Internet. We grow. Many focus on the new condos. The hip, all glass, uptown spaces within walking distance of arenas and stadiums and pubs...the towers dot our futures. There is a lot of speculation. There is a lot of buzz. There are many people jumping in the game. All that glitters is not gold.
Our name is CC...Condo CanDo...and that might also stand for cautious, curious, careful, conservative. Me and the kid in the red cape, Condo CanDo, will leave the new to the new...I will begin with older condominiums and townhomes because there are some interesting stories and charming condos and townhomes throughout our city, Charlotte.
This is my plan.
Lynnsy Logue, The Real Estate Lady and Condo CanDo