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Latest Blogs

How To Navigate Charlotte’s Intimidating Real Estate Market

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

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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.

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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

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.

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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

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

3

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

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.

2

• 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?

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.

Latest News

Charlotte fastest growing city over last 10 years

Charlotte fastest growing city over last 10 years

CHARLOTTE, N.C. — Charlotte was the fastest growing city in the last decade. New numbers from the Census Bureau show the urban area grew 65 percent from 2000 to 2010. The next fastest growing urban area was Austin, Texas at 51 percent.Las Vegas came in third at 43 percent. To put that in perspective, the country’s entire urban population grew 12 percent during the same time. The state of North Carolina ranks second in the nation for largest rural populations with 3,233,727. Texas came in first with 3,847,522 people and Pennsylvania came in third with 2,711,092 residents.

 

See more @ http://www.wsoctv.com/news/news/local/charlotte-fastest-growing-city-over-last-10-years/nLfBM/

Talley Properties Announces Opening of New Facility

Talley Properties Announces Opening of New Facility

Charlotte—Talley Properties Inc., a property management firm serving the Charlotte area real estate market has announced their move to a new facility 2716 Westport Road. The move will be official March 23rd.
The brick, 2-story 7300 square foot building is situated on an acre plot and includes 5000 sq feet of office space and a 2300 sq. foot warehouse. It was built in 1998 and served as a corporate office for a local builder.

According to owner and President Tony Moore, "Talley Properties has experienced tremendous growth since 2004. We feel this new office will provide us with a stable location to continue to serve our existing clients while giving us room to continue to grow and expand our services." Moore received his BS in Management and Production Sciences from UNC Wilmington. A native of Lincolnton, he now resides in Gastonia with wife Cathy and their children, Melissa and MaKenzie.

Talley Properties has specialized in midrange to high end residential and commercial property management since 1980. Their mission is to provide full service management to a diverse group of investors. With the goal to achieve long-term relationships with their investors, they are on call 24-hours a day, and provide quick, efficient same day service. Visit Talley Properties at www.talleyproperties.com or call 704-332-2206.

In shaky economy, renting increasingly tops owning

In shaky economy, renting increasingly tops owning

It's an ideal time to buy a home, but many potential buyers in Sioux Falls are forgoing home ownership and the American dream.

Instead, despite historically low interest rates, a drop in home prices and an ample inventory of houses to chose from, many are opting for short-term rental agreements.

Some question whether there's still value in owning a home .

Others say the popularity of renting is a trend that will be a short-lived function of economic uncertainty. Many potential first-time homebuyers don't want to be tied down to a home. They don't know whether the future will bring a pay raise or a layoff. So they opt for an apartment or town home.

The trend of renting will turn around eventually, but it's going to be slow, said Michael Roach, assistant professor of economics at the University Center and Dakota State University.

"That's a short-lived phenomenon we're experiencing simply because of where the housing market has gone for a couple of years," he said. "(Homeownership) is still the American dream; people still want homes. People still want to own their own home, but they want to do it in an environment that makes economic sense."

As the local economy grows and adds jobs, and as new businesses pop up, Roach said home ownership will pick up.

"Especially for younger people, younger families, nobody likes uncertainty when they're dealing with that amount of money. It's the biggest investment most people will make in their lives," he said. "People are gun-shy still, and it's going to take a little while to get over that."

Fear is the No. 1 reason for the shift from home ownership to renting, said Tony Ratchford of the Ratchford Group with Hegg Realtors.

He said although home inventory has dropped in Sioux Falls, and business is better than last year, it's not as good as he had hoped. He's had clients who sold homes and moved into rental properties to get out from under some debt. He also owns five rental properties that he said he gets calls about weekly.

"It's just been absolute fear. ... They just don't have confidence in the economy," he said. "People were careful with their money. They realized the cost of gas, cost of food and have a fear of the economics of the world that brought them to the realization to pay off debt, pay off credit cards and just hunker down a little and make life cheaper."
Ratchford said he thinks Sioux Falls has hit bottom and predicts things will pick up by summer. At that time, he said the market will be more balanced, home values will increase, rentals will be mostly full and prices will be up. People will realize it's cheaper to buy than rent.

"The American dream of owning your own home, it's such a great investment, but the last three or four years we haven't seen that," he said. "Some people are questioning whether or not there's any value in owning a house anymore. I know there is, and long term it's going to be a big deal. It's part of the cycle of what happens when you have a down dip."

Kayla Pederson, 27, never has owned a home, and said financially, she can't buy a house now. This month, she moved into a two-bedroom apartment with her 4-year-old son after living with a friend and saving money.

"These days, it's more common. I'm hearing friends and acquaintances move in with friends or parents to catch up until they're ready to get out on their own," she said.

Pederson recently moved back to Sioux Falls from Colorado. Although she has a degree in business management, she was unemployed for more than two months before she was hired as an IT support technician in June. She plans to own a home someday but said renting is the best option now.

Pederson passed on buying a foreclosed home in the Denver area. She's glad she did.

"With the economy, you could get more bang for your buck, but when we had time to think about it, we decided renting was a better option," she said. "I knew eventually I was going to be moving back home."

Matt Larson, president of the Realtors Association of the Sioux Empire, said pending home sales were up 16 percent in October compared with last October. Pending sales this year are up 0.9 percent. New listings and inventory are down.

Larson said people remain cautious.

"It should start improving in 2012, and I think we're going to lead the country out of it in the Midwest, because we didn't have the terrible downside," he said. "I think we're going to outperform most markets."
Rental vacancies in Sioux Falls are at an all-time low of 4.58 percent, said Dan Siefken, executive director of the South Dakota Multi-Housing Association. That's the lowest the organization has seen since it began the vacancy survey in 1996, he said.

It's also down substantially from a record-high of 13.28 percent in January 2010.

"I think (apartment living) is back in vogue," he said. "People went through a period of time where they were sold on the fact that home ownership was for everybody and that you were throwing your money away if you rented. Now they're realizing that renting is a good bargain."

Siefken said the high vacancy rates of 2010 can be attributed largely to the first-time homebuyer tax credit perks. Now, he said, renters are finding a savings in renting when they don't have to pay property tax, maintenance, insurance, lawn care and snow removal and other costs.

Today's renters don't want homeowner costs, but they do want more than a couple bedrooms, a bathroom and a kitchen. They want units with dishwashers and a washer and dryer. They want complexes with heated garages or underground parking, fitness facilities, pools and Jacuzzis, Siefken said.

"They're pretty much must-haves," he said. "Those apartments are getting harder and harder to find; those complexes have almost zero vacancy."

Angie Stingley, manager for Boulder Creek and Boulder Pointe Townhomes, said she has 184 units and expects one vacancy this month. She said if there is a vacancy, it doesn't last long.

The Dunham Co. will start construction next spring on a 262-unit apartment complex on South Grange Avenue. CEO Don Dunham expects it to be ready for tenants next fall.

"The old days of Section 8 housing and 4-plexes, that's not good enough for young professionals today," he said. "If you make enough money, you want to live someplace nice, but that doesn't mean you want to buy a house."

That's why Dunham hasn't built any single-family homes in more than two years. There's no demand.

He said the company used to have 40 to 50 spec homes for sale at all times throughout the area that includes Sioux Falls, Dakota Dunes, Yankton and Elk Point. Dunham said the company has about 150 lots fully developed and ready for single-family homes, but there's no plans for buildings.

"We're just trying to liquidate what we still have," Dunham said. "There is no demand. People are seeing that a home is not the deal it used to be anyway."

Rental Prices Soaring as Home Values Stay Low

Rental Prices Soaring as Home Values Stay Low

Foreclosure Deals, a leading provider of foreclosure listings, news and information, has released new research on home prices and rent values across the nation. Drawn on data collected from regional and local real estate markets, the numbers demonstrate the relationship between the average cost of rent and the average cost of a home purchase in each state, which can help homebuyers choose the best markets in which to invest.

"Foreclosures have had a huge impact on home values," remarked John Evan Miller, a real estate analyst with Foreclosure Deals. "In almost every market, prices are well below their 2008 values, simply because there are so many homes available."

Foreclosure Deals presents the new data compared with values recorded in 2008 using an infographic available on their web site, and the impact of the foreclosure wave is clear. In many areas, home prices are extremely low, while rent prices are notably higher.

"Rents are up, and they're going to stay up," said Miller. "Even though it's the best market for homebuyers we've seen in over a decade, the recession made a lot of people reconsider spending at the time, so they rented. This drove up demand, and prices, for rental properties."

Despite the sluggish economy, Miller points out that this is the perfect market for real estate investment. He adds that mortgage interest rates are also at historic lows, creating other opportunities for value investing.

"Not only do you have rock bottom prices, you've got a terrific market to rent out your property while you wait for prices to rise. And they will rise. Home values will come back, but the days of 3.5% and 4% mortgages aren't going to be around forever. Once home values rise, those interest rates will rise too."

Experts currently predict average rental costs to be 4.5% higher than by the end of 2011 than their value last year, and up another 3% in 2012. In contrast, foreclosure homes currently offer savings of anywhere from 10% to 50% off market value. As buyers who put off buying a home during the recession look to start buying again once the economy improves, it will create the opportunity for big profits for foreclosure investors.

"In a great many cases, you're going to end up paying less on a monthly mortgage payment if you buy a home than you would in rent on the same property," said Miller. "Could there be a better reason to buy than that?"

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