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Ask Jonathan: Charlotte Market Update, Should I be a Realtor, Waiving Inspections

It’s the Ask Jonathan Episode.  This time, listeners asked for a market update, about what life is like as a Realtor and if you should waive an inspection or appraisal to make an offer more attractive to a Seller.  

If you would like to leave a voicemail for the next Ask Jonathan episode, call and leave a message or text 980-880-5088. send an email to podcast@trpcarolinas.com or leave a message via any of our social channels. 

At home Podcast on Twitter

At home with Jonathan on Instagram and

At home with Jonathan Osman on Facebook. 



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Posted in: Blog, Podcast

What the UDO with Ely Portillo

This week, I’m joined by Ely Portillo from the UNC Charlotte Urban Institute to discuss passage of the 2040 Charlotte Comprehensive Plan, the upcoming Unified Development Ordinance or UDO, new developments in the development at Eastland Mall as well as return to work plans.  

You can also hear Ely and myself on the August 3rd Charlotte Talks podcast, where we discussed the role institutional investors are playing in the Charlotte housing market.  



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Posted in: Blog, Podcast

Bursting the Charlotte Housing Bubble Myth

This week, Jonathan refutes the social media rumor that the housing market in Charlotte is in a bubble that’s about to burst with facts and stuff.  

Show notes:

Here’s the Charlotte Axios story that started it all: Is Charlotte’s real estate market headed for a crash?

Freddie Mac Perspectives: “In 2018, we estimated the housing shortage to be 2.5 million units”, Housing Supply, a Growing Deficit.

Who’s Buying Houses? The 2021 Home Buyers and Sellers Generational Trends Report from the National Association of Realtors.

Who else is Buying? Institutional Investors (Wall Street).  Here’s the report showing they own 17k homes in Charlotte: U.S. Single Family Rental 2020 Institutional Activity.

National Association of Home Builders report for May 2021

Mortgage Bankers Association June 2021 Mortgage Credit Availability Index



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Posted in: Blog, Podcast

New Episodes in July!

Your favorite real estate podcast is coming back with all new episodes in July and I’ve added a real estate help line.  If you have a real estate question, I would love to answer it on an upcoming episode.  To submit your question, call 980-880-5088 and leave a voicemail with your question.



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Posted in: Blog, Podcast

Charlotte’s Epicentre in Uptown to Become Micro Apartments

The Epicentre, Uptown Charlotte
The Epicentre in Uptown Charlotte, NC

Once known as the epicenter of nightlife entertainment in Uptown Charlotte, the Epicentre is facing a it’s third transition in less than 2 years time. In late 2019, after a string of violent events, the management company of the Trade Street property announced that it would transition from the destination for adult revelry to office space, to meet the growing demand for corporate space in Uptown. Charlotte’s Center City has long had a historically low vacancy rate for Class A and lower office space so this seemed like a good decision.

Then Covid hit and Uptown became a ghost town. With corporations sending their employees to work from home for the year, the shift to office space could not come at a worse time. Add to it the growing sentiment of some businesses to re-evaluate their space needs now found the Epicentre management team in a curious spot. The solution: create series of micro apartments inside the former restaurants, night clubs and the parking garage for tenants that are looking for an affordable place to call home.

The first grouping of these micro apartments is being built inside the former Whisky River, formerly a country music venue, restaurant and sports bar. Now, tenants can lease up to 120 sq ft of cozy space in the heart of Uptown. Each unit features room for a full-size murphy bed, a table and chair, one electrical outlet and access to a shared bath and kitchen. “It really helped that the former restaurant left their old cooktops, ovens and freezers. Instead of removing them, we’re allowing each resident to use at their own risk, provided they sign a waiver and complete a training course.”

Mechanical Bull
The Mechanical Bull

To keep construction costs down, the former stage and bars remain in place, with micro apartments in the VIP section marketed as “Penthouse” and “Marque” units. Additional amenities that remain is the mechanical bull, which is free for residents to use and that the Touchtunes pay per play jukebox remains so each evening from 5pm-2:00am, residents can take turn selecting tracks to share with their friends. “I was going through a tough breakup with my boyfriend” said one resident “but I found it soothing that I could play “Goodbye My Lover” by James Blunt on repeat over and over until the pain just melted away.”

Once the space in Whisky River is filled out, the management team is ready to lease spaces in the former Studio Movie Grill (the spaces not on a slant will be at a premium), Strike City and Howl at the Moon. “Our goal is that as the weather warms up, we will begin leasing urban camping plots at the former Rooftop 210 location. How amazing would it be to glamp outside in Uptown on the rooftop of the Epicentre”.

April Fools

Posted in: Blog Tagged: April Fools

Updating the Charlotte 2040 Plan with Ely Portillo

This week, Ely Portillo from the UNC Charlotte Urban Institute joins to discuss the support and backlash to the Charlotte 2040 Comprehensive Plan.  Plus, we talk Thomas the Tank Engine and I try to explain why the housing market is completely insane.  Finally, if you like drinking games, take a shot every time I say 106.



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Posted in: Blog, Podcast

$15000 Home Buyer Stimulus and Covid’s Impact on housing one year later

February 2020 was the last month that the real estate market wasn’t negatively impacted by the Covid-19 pandemic.  This week, Jonathan looks at the effects on housing in Charlotte one year later and how likely is a proposed $15,000 Home Buyer Credit to become reality?  



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Posted in: Blog, Podcast

Asbestos Town with David Boraks

This week, Jonathan is joined by WFAE Reporter David Boraks to discuss his series on an old asbestos manufacturing facility in Davidson, North Carolina that some hope to redevelop and the issues faced by the adjacent neighborhood. 

Dive deeper into David’s reporting by visiting Asbestos Town on WFAE

and locate other Brownfields sites in North Carolina.



Check out this episode!

Posted in: Blog, Podcast

2021 Guide to Preparing Your Home For Sale

Welcome to our 2021 Home Preparation Guide. The follow tips are a combination of improvements and repair items that are the most common found during a home inspection.

We highly recommend every property owner invest in a Pre-Listing Home Inspection, which will help uncover any serious issues that could kill a transaction later on down the road. If items are found, they can be addressed and corrected prior to the home being listed for sale or disclosed to prospective Buyers and addressed either by offering a concession or by selling “As-Is”.

Exterior

A good first impression is everything. Prospective Buyers will spend time at your front door while their Realtor fumbles with the lockbox and unlocks the door. In that time, they will begin to scrutinize the exterior of the home so taking time here to unsure that everything looks its best will set the tone for the rest of the showing.

Additionally:

  • Make sure water drains from the house when it rains. Simple splash blocks or down spout extensions can help divert water away from the foundation.
  • Ensure your door locks work properly and without excessive sticking. A little WD-40 into your lock can do wonders, especially if you don’t use the lock often. If the handle or knob is broken or worn, replace it.
  • Paint the front door and the related trim if it shows any signs of fading, peeling paint and repair any wood rot around the base of the door. Their home inspector will find it eventually.
  • Clean any gutters filled with debris from the fall.
  • If you have an older roof, it may be worthwhile to have a roofer make repairs to torn and broken shingles as well as nail pops and worn exhaust boots.
  • Replace any rotted or broken wood on the deck.
  • Video doorbells have become almost expected. Consider adding even a basic one as a selling feature.
    • In North Carolina, smart home features must convey with the house unless excluded. That would include any hubs that are required for the smart devices to work (i.e. Smart Speaker with built-in Hub).

General Interior

Your prospective Buyer has already toured your home online before ever stepping foot into the house physically. It’s important that their visit should meet or exceed their online expectations. Consider having your home professionally deep cleaned prior to showings and do avoid any strong incense smells.

Pre-pack much of your house. When it comes to clothes, remove the clothing that is out of season from your closet and pack them away in the garage or storage unit.

Also:

  • If you have any double pane windows with clouded glass or rust in the between the glass, you may have a broken thermal seal. If you are the original owner of either the windows or the home, your windows can be replaced, sometimes for free or little cost.
  • Carpet only lasts 5-7 years, less if you have pets or it’s in a high-traffic area. At a minimum, have your carpets cleaned. At most, have them replaced prior to the home being listed for sale.
  • Paint is the best return on investment improvement you can make to your home. Consider a neutral color but it’s okay to leave accent walls with a little color. Don’t ignore the ceiling. ALWAYS PAINT THE CEILING!
  • Replace any burned out light bulbs
  • Smoke detectors have an expiration date. When in doubt, replace.
  • If you home has a fireplace, gas appliance and / or an attached garage, a CO2 detector is needed.
  • Secure any loose electrical outlets and replace any broken wall plates.
  • If your windows struggle to stay open, they may need a new spring. Replacement parts are available online relatively inexpensively and some even have Youtube instructions on how to make repairs.
  • Install an overflow pan under the Washing Machine.
  • Replace your furnace air filters and clean any dusty debris from the registers around your home (including the bathroom vents).

Kitchen

Kitchen and Baths are the two areas that are judged the hardest by prospective Buyers so these are two areas I tend to pay the most attention. If your home has worn out kitchen appliances, replacing them with a new matching set can be worthwhile if it’s within your budget. If not, price your home accordingly.

A thorough cleaning or a fresh coat of paint with new hardware can give even the most outdated kitchen a new lease on life. Your pantry should be 1/2 to 3/4 full and your counter tops should have no more than your absolute essential appliances for daily use (coffee maker, blender, toaster). Everything else is packed away.

Should you invest in solid-surface countertops like granite or quartz? If it is within your budget, absolutely. The cost of granite counters have fallen considerably in recent years, leading to their universal appeal.

  • Check under all sinks, drains, and faucets for leaks.
  • If you have a flexible drain line under your sink, it will show as a repair item on your Buyer’s home inspection report. Consider replacing.
  • Check the garbage disposal for leaks or cracks.
  • Ensure that your dishwasher is secured either to the countertop above or the cabinet to the side.
  • If you have a burner that isn’t working or a cracked cooktop, they can be replaced by an appliance repair company.

Bathrooms

Your bathroom should be limited to the essentials. Remove any hanging baskets of soap or freshen up the space by adding new light bulbs, a fresh shower curtain, and clean white towels.

  • Make sure that the toilets are not loose. Replace the wax ring if there is any sign of moisture around the base of the toilet.
  • If your toilet doesn’t flush properly every time, consider replacing the fill valve with new kit.
  • Caulk around the tub, shower pan, walls, and along the base to the floor.
  • Fix and replace any missing grout in a tile floor or a tiled shower wall.

Yard / Garden

Yard spaces are important to Buyers and the Spring is a great time to show off a beautiful green lawn. If your lawn was beat up during the previous Winter, consider overseeding it in the very early Spring to help fill in the bare areas. If your grass coverage isn’t your problem, apply fertilizer to green up your lawn and prevent weed growth.

  • Replace any worn or broken deck boards.
  • Add bright seasonal flowers in the landscape
  • Apply fresh mulch / pine straw
  • Replace any burned out exterior light bulbs
  • Power wash patio, driveway, sidewalks to remove any winter grime.

Final Thoughts

The most common question I receive is if you should spend money improving your home before it’s listed for sale.

Most Buyers today are looking for turn-key move-in ready properties that require minimal improvements so, for this group, a house that has fresh paint and updated fixtures really appeals. However, if your budget does not support spending additionally on improvements, a house that is very clean, appearing to be maintained, and priced appropriately can also appeal to another audience who are looking for a home they can add their personal style to. The key here is to price the home appropriately for the level of the improvements.

Posted in: Blog, For Sellers Tagged: for Sellers, Home sale guide, preparing your home for sale

2021 Charlotte Development Update with Danielle Chemtob

This week, Charlotte Observer Real Estate and Development Reporter Danielle Chemtob joins to share how Covid has impacted office vacancies, what’s next on a site for the a new stadium for the Carolina Panthers, an update on Eastland Mall, River District and more. 

Follow Danielle on Twitter at @daniellechemtob



Check out this episode!

Posted in: Blog, Podcast

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Latest Blog Posts

Ask Jonathan: Charlotte Market Update, Should I be a Realtor, Waiving Inspections

November 19, 2021

What the UDO with Ely Portillo

August 6, 2021

Bursting the Charlotte Housing Bubble Myth

July 14, 2021

RSS Listen to the At Home with Jonathan Osman Podcast

  • Ask Jonathan: Charlotte Market Update, Should I be a Realtor, Waiving Inspections November 19, 2021
  • Zillow Shuts Down Its Fix and Flip Business November 3, 2021
  • What the UDO with Ely Portillo August 6, 2021
  • Bursting the Charlotte Housing Bubble Myth July 14, 2021
  • New Episodes in July! June 25, 2021
  • Updating the Charlotte 2040 Plan with Ely Portillo March 30, 2021
  • $15000 Home Buyer Stimulus and Covid's Impact on housing one year later March 15, 2021
  • Asbestos Town with David Boraks February 22, 2021
  • 2021 Charlotte Development Update with Danielle Chemtob February 10, 2021
  • What's Next in University City with Darlene Heater February 2, 2021

About Jonathan Osman

Jonathan Osman may be the most recognizable Realtor in the Charlotte area. Since 2003, he has served his clients with excellent customer service and by utilizing the latest technologies to promote his listings. In 2006, he relocated to Charlotte from the DC Metro and in 2015, he left his prior real estate firm to launch Tryon Realty Partners.

Continue Reading

RSS Listen to the At Home Podcast

  • Ask Jonathan: Charlotte Market Update, Should I be a Realtor, Waiving Inspections November 19, 2021
  • Zillow Shuts Down Its Fix and Flip Business November 3, 2021
  • What the UDO with Ely Portillo August 6, 2021
  • Bursting the Charlotte Housing Bubble Myth July 14, 2021
  • New Episodes in July! June 25, 2021
  • Updating the Charlotte 2040 Plan with Ely Portillo March 30, 2021
  • $15000 Home Buyer Stimulus and Covid's Impact on housing one year later March 15, 2021
  • Asbestos Town with David Boraks February 22, 2021
  • 2021 Charlotte Development Update with Danielle Chemtob February 10, 2021
  • What's Next in University City with Darlene Heater February 2, 2021

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Tryon Realty Partners

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Charlotte, NC 28208

704-960-1725
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NC License: C31026
SC License: 21756