Blog - Talley Properties

How To Navigate Charlotte’s Intimidating Real Estate Market

Charlotte, North Carolina, boasts one of the hottest real estate markets in the country.
According to forecasts presented by Zillow for the 2023 calendar year, the Queen City is leading
the pack in projected home value growth and job opportunities. These factors create the perfect

conditions for a booming real estate market, particularly for those who have any interest in
investing.
If you’ve considered dipping your toes into the world of real estate investment, there’s no
better time than the present. But it can be a little intimidating, especially to newcomers and
beginners. It’s a fast-paced market with plenty of moving parts. It can sometimes feel like there’s
little room for error and no way to break into the business. So, how can you go about navigating
such new and treacherous territory? Whether you’re new to the game or you have some
experience under your belt, let us be your guide by providing a few tips as you venture into
Charlotte real estate.
• Organize Your Finances. In a hot market, it’s essential that you have your financial assets lined
up before you begin shopping. This will enable you to make a swift purchase when the perfect
property comes along.
• Browse Beforehand. Before going out and beginning your serious search for property, take
some time for a bit of low-stress, low-stakes browsing. Whether you prefer to look at listings
online or in-person, this will give you a feel for the market before you dive in headfirst.
• Don't Give Up. Things move quickly in a hot market, and it can be rather cutthroat. Listings
may go up for sale and be under contract within days. Properties that you thought were perfect
may not be everything you had hoped. But perseverance is key when it comes to real estate
investment.
• Timing Is Everything. Because a hot market moves so quickly, you mustn’t delay on making
important choices. That isn’t to say you should rush into a hasty decision, but do be aware of the
pressures that come with real estate. Consider making a list of the things you need and the things
you’re willing to compromise on. That way, you’ll be mentally prepared to make difficult
evaluations on a deadline.

Still having trouble navigating Charlotte’s intimidating real estate market? Let us give
you a hand. Talley Properties has 40 years of real-estate experience in the Charlotte area. Contact
us today to learn more about how Charlotte’s best property management agency can help you!

Explosive Growth: A Look at the Fastest Growing Suburbs in the Charlotte Area

Zillow has ranked Charlotte, North Carolina, among the hottest real estate markets in the
country for 2023. In fact, according to the list, the Queen City takes first place for the calendar
year, sitting just above other cities such as Cleveland and Dallas. Part of the reason for such high
numbers and explosive growth is the suburban towns and cities surrounding Charlotte.
While the downtown area is thriving, people often flock to the suburbs to settle down or
raise a family. That’s not to say that the suburbs are stagnant. Far from it, in fact. Many suburbs
in the Charlotte area are undergoing enormous growth and revitalization, contributing to the
city’s status as the hottest US real estate market.
Huntersville

Located north of Charlotte and southeast of Lake Norman, Huntersville is one of the major
suburbs in the area. As of 2023, it’s growing at a rate of 0.43% annually. The citizens of
Huntersville have even created an organization dedicated to revitalizing the town and providing a
clear vision for the future.

Waxhaw
Located south of Charlotte, heading toward the border of South Carolina, the city of
Waxhaw represents another real estate hotspot. Waxhaw is growing quickly, with a current
growth rate of 4.34% annually. Authorities on the town and its citizens have expressed their
dedication to preserving the small-town charm while also adding much-needed improvements to
accommodate for the influx of people.
Concord
Concord is growing steadily at a rate of 1.82% annually. Located northeast of downtown
Charlotte, Concord has been called one of the fastest-growing cities in North Carolina, with a
33% growth in population between 2010 and 2020. This same source states that companies are
pouring millions of dollars into revitalizing the city, including housing and job opportunities.
North Charlotte
For those that want a taste of the city life without living in the hustle and bustle of the
downtown area, North Charlotte is perfect. It’s easy to see the appeal. Located within the ring of
I-485, it’s just a short drive into the city and its must-see cultural and culinary hotspots. Charlotte
as a whole is experiencing a current growth rate of 0.34% annually.
Contact Talley Properties
If you’ve managed to snag investment property in any of these booming neighborhoods,
then you’re in good shape! Let us help you manage your real estate portfolio. With 40 years of
experience in the Charlotte market, Talley Properties has you covered. Contact us today!

Quarter 2 Charlotte Real Estate Predictions

We’re already more than a quarter of the way through 2023, and it’s time once again to
look at what the next three months might hold. Professional real estate analysts across the
country are keeping an eye on the market to provide their best forecast for the second quarter of
2023. Charlotte may be the hottest market in the United States this year, but it’s all relative. Even
the Queen City is susceptible to the twists and turns of a turbulent economy. With that in mind,
let’s take a closer look at what buyers and sellers can expect from the real estate market as we
head into the summer months.
First, it’s important to note that the second quarter of the year is typically the busiest and
most active when it comes to real estate sales, peaking around June. The weather is warming up
and people are buying and selling in preparation for the upcoming summer months. However,
this year may be a little different, analysts report. Growing uncertainty in the United States
economy will have an effect on consumer spending and the affordability of housing at large. In
times of uncertainty, consumers will tend towards inaction, preferring to wait until the market is
more stable and more favorable.
As for mortgage rates, experts predict that they will stay relatively level, with no drastic
shifts up or down. If you were waiting for mortgage rates to drop before investing in a new
property, you may have to wait a little longer. There are a number of variables to consider, of
course, including location, inflation, and the actions of the federal government in response to

economic matters. You must take experts’ forecasts and predictions with a grain of salt. Keep a
close eye on the market, and don’t let yourself be caught off guard should the United States
economy take an unexpected turn. Senior economist Nadia Evangelou is even quoted as saying
mortgage rates may “drop faster than expected” in response to economic turmoil.
Fortunately, as a Charlotte-based company, Talley Properties has all the information on
the local market. Even with the broad uncertainty that is sweeping the country, Charlotte is still
ranked among the hottest real estate markets. Now might be a good time to jump in a start
looking for investment property that will serve you in the months and years to come. Here at
Talley Properties, we’re always looking to take on new clients and help manage their real estate
portfolio. Contact us today to learn more about our services!

Stay Away From Timeshares & Where Else You Should Invest

Timeshares have been around since the 1970s, and they’re still popular with many people
today. For those unfamiliar with the term, a timeshare is a vacation destination property in which
several parties share joint ownership. Each party is allotted a certain period of time during the
year in which to stay on site and utilize the amenities. Many timeshares are located on or near
resort property, so it can be a good way to vacation if you intend to get away every year.
To the business-minded investor, timeshares may sound like a fantastic investment
opportunity. Unfortunately, the reality is that timeshares are not ideal investments for several
reasons. Let’s take a closer look at some ways in which timeshare properties fall short, and then
we’ll tell you where to better invest your hard-earned money.
• Depreciation. Unfortunately, unlike most real estate, timeshares do not hold their value well.
There’s a large and oversaturated resale market for properties such as these, so expect it to
depreciate over time.
• Lack of Liquidity. Real estate is, by nature, not very liquid. If you need funds or you’re
planning on reorganizing your assets, you might be a challenge to find a buyer for your portion
of the timeshare property. Even worse, you’ll be hard-pressed to recover your initial investment
due to an oversaturated market.
• Maintenance Fees. Timeshare owners must pay an annual maintenance fee. While this may
sound like a benefit, especially if you don’t have to worry about doing any maintenance work
yourself, the truth is that owning a rental property will be much cheaper and more lucrative in the
end.
• No Passive Income. Because you are not the sole owner of the property, you cannot lease it out
like you might with a vacation house. You are entitled to only a portion of the year.
Here are two alternatives to investing in timeshare property:

• Rental Property. If you’re looking to invest in real estate, you can’t go wrong with rental
properties. Not only do they generate passive income, but they appreciate in value over time.

• Vacation House. For those who liked the vacation aspect of a timeshare, consider a vacation
home. You can use it any time of year, and then you can rent it out to vacationers for a solid
passive income when it’s not in use.
Navigating the real estate market can be tricky. Fortunately, when it comes to the
Charlotte investment, we’re no strangers. Talley Properties has over 40 years of experience
helping clients build and manage their portfolio. Contact us today to learn more!

Fact From Fiction: What Does It Actually Take To Invest in Real Estate?

Real estate investment can be an enticing endeavor, but many people shy away from the opportunity, intimidated by all the unknowns. There are countless myths and bits of fictitious information going around nowadays, especially when it comes to real estate and investment opportunities. Maybe you’ve always wanted to get into the business, but you were discouraged before you could even give it a shot. Read on for a closer look at some of the most common myths as we separate fact from fiction.

Fiction: Real estate investment is an extremely risky business.

Fact: While it is important to go into the process with your eyes open to potential risk, it’s not excessively insecure, especially when compared to other investment types. When you purchase an investment property and become a landlord, you’ll be able to generate extra income on a regular basis.

Fiction: You need to be independently wealthy with plenty of disposable income.

Fact: The truth is that you COULD spend a fortune on investment properties and become a real estate mogul. But there are plenty of opportunities available for much cheaper, and you begin to see a return on investment almost immediately. If you simply don’t have the funds, you could even invest with a partner to offset some of the upfront costs.

Fiction: It takes a long time to get started before you see any income.

Fact: Scouting and planning and purchasing the perfect rental property takes time, sometimes up to several months. You want to make sure that you invest in real estate that has growth potential and will increase in value over time. But after the initial purchase, all that’s standing between you and a passive source of income are tenants. You could be up and running in just a few short weeks!

Fiction: You have to bear the responsibilities of a landlord all on your own.

Fact: Many landlords simply don’t have the time or expertise required to manage the responsibility entirely on their own. Instead, they rely on property management companies to do the heavy lifting for a small fee.

If you’re intimidated by the prospect of managing your real estate investments on your own, let us help! Talley Properties is one of Charlotte’s best property management companies, with over 40 years of experience. Contact us today to learn more about our services and how we assist our clients.

How Easy Is It To Invest in Real Estate?

For one reason or another, many people don’t get into real estate investment, even if it’s something they’ve considered pursuing. The entire business can be rather intimidating, at least from an outsider’s perspective. But like anything, there are plenty of ways to get started and get your ideas off the ground. It’s all about going in with your eyes wide open. Once you break it down into smaller, more manageable pieces, the process can be pretty straightforward. So, how easy is it to invest in real estate? Well, let’s look at some beginner’s steps to real estate investment, and we’ll let you judge that for yourself.

The first and most important thing that comes with any type of investment is financing. You have to have the money to invest before you can see it grow and multiply. Rental properties typically require a minimum 15% down payment. You’ll also want to have enough budgeted for inspections and licensing, as well as future upgrades, repairs, and general maintenance.
Passive real estate opportunities can be a great way to get your feet wet and start learning the ins and outs of the market. Rental properties are among the most well known. Acting as landlord, you’ll find and vet potential tenants and keep up with maintenance and repairs on the property. Rental fees are a fantastic source of passive income. Real estate investment trusts (REITs) are another low-impact investment. The professionally-managed trust is dedicated to commercial and medical real estate acquisitions, and you’ll receive dividends as a shareholder.
Once you’ve grown accustomed to the world of real estate investment, you may be interested in taking on a more active role. Wholesale, prehabbing, and house flipping are perfect for your next steps. Wholesalers act as a mediator between buyers and sellers. Perhaps you purchase a discounted house contract, then you sell the contract to an interested investor. Prehabbing is the art of fixing up the cosmetic appeal of a home by painting, cleaning, and landscaping. House flipping, or rehabbing, is a full renovation of the property and its structures. Of course, taking any of these active roles would mean that you receive payment for your work.

As you can see, it doesn’t take a lot to get started in real estate investment. All you need is a little money, the right industry connections, and the will to succeed in the business. If you’re still feeling a little overwhelmed, consider hiring a property manager to help guide your investments. Here at Talley Properties, we offer clients a variety of services and over 40 years of real estate experience. Contact us today to learn more!

Rental Property Summer Preparation & Maintenance Checklist

The weather is warming up, and the flowers and trees are in full bloom. Spring is finally upon us! Even so, summer in the South follows closely on the heels of spring weather, and with it comes a new set of challenges for rental property owners. Spring is the perfect time for investors to take inventory of their rental spaces and begin preparations for the upcoming season. Read on for a checklist detailing some of the most important maintenance items to consider before summer arrives.

HVAC Systems. This is perhaps the most important thing you can in preparation for the warm summer months. If your air conditioning is not working correctly, you can be sure that your tenants will be less than pleased. Have it professionally checked out to be sure that everything is functioning at maximum capacity.
Windows & Doors. Little cracks and gaps that form along the outer edges of windows and doors can be problematic. They can easily let the warm air in and the cold air out, costing more money to condition the space. This inefficiency can be solved through careful inspection, a little caulk, and perhaps some under-door barriers.
Smoke Detectors. It’s important to maintain the safety of a space by ensuring that smoke detectors are in proper working order. Summer is a time for fireworks, sparklers, grills, and campfires. It’s much better to be safe than sorry.
Pest Prevention. Pests often return in the summers with a vengeance. Get your house professionally inspected to be sure that there are no infestations, and practice preventative measures to keep them from coming inside. The good news is that mending the gaps and cracks around the openings in your home will also discourage bugs from wandering indoors.
Spring is the perfect time to spruce up your lawn and your flower beds in preparation for summer. Weeding and fertilizing will make your lawn look immaculate. And adding some flowers, bushes, and a fresh layer of mulch or stone will give your flowerbeds plenty of curb appeal.
Outdoor Spaces. Outdoor spaces such as decks and patios are particularly popular during the warm summer months. Be sure that they are clean and well-maintained.

Talley Properties is proud to offer value-added services to our clientele that make it easier to prepare and transition between seasons. With over 40 years of expertise, you can trust us to help you get the job done right. Contact us today to learn more!

How To Deal With Tenant Issues

The inevitable hard truth is that most landlords, at one time or another, will have to deal with difficult tenants. Whether they never pay their rent on time or simply enjoy complaining about every little thing (whether under your control or not), there are many types of problematic tenants. Each needs to be handled differently, depending on the issues they bring to the table. But there are a few general best practices that will help keep you from pulling your hair out in frustration. Read on for some tips and tricks when dealing with persistent tenant issues.

Remain Calm. The first and most important thing you can do when speaking face-to-face with a difficult tenant is remain calm. Don’t raise your voice, don’t let your temper get the better of you, and don’t ever let the situation escalate to physical aggression. Try to defuse the tension and redirect any negativity into something constructive.
Obey the Golden Rule. Treat others the way you want to be treated yourself. By simply demonstrating this in your daily interactions with tenants, you are leading by example. This may not work with everyone, but it places you above reproach.
Maintain Records. It’s critical that you keep written records of everything you do as a landlord. This includes making and filing copies of lease agreements, as well as work orders and rent payments. By keeping meticulous records, you’ll be able to refute any false claims against your character and your work ethic.
Be Firm. While it is essential to remain calm and treat others with respect, you shouldn’t let unruly tenants walk all over you. Conduct yourself with poise and be firm in your demands as a landlord. There may come a time when you have to issue an ultimatum: shape up or be evicted.
Hire a Property Manager. If the pressure of dealing with clients is too much for you, hire a property manager to do the heavy lifting for you. Not only can they take care of day-to-day interactions, but they can be instrumental in screening and evictions as well.

If you’re searching for a good property manager, look no further than Talley Properties. We’ve been Charlotte’s best property manager for over 40 years. Browse our website or give us a call to learn more about our services. Contact us today to discover how we can help you!

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