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CHARLOTTE AND LAKE NORMAN NEWS LETTER

CHARLOTTE AND LAKE NORMAN NEWSLETTER

Charlotte Ranked In The Top 21 Best Places To Live In America

Charlotte was just ranked on yet another ‘top list’.

Livability.com just published their “2019 Top 100 Best Places To Live” report and ranked us #21 in the nation. We came in just behind Omaha (#20) and just ahead of Laramie, WY (#22) and Durham (#23).

Here’s how Livability described the Queen City:

The North Carolina city is one of the country’s fastest-growing cities, home to nine Fortune 500 companies, and is the nation’s second-largest banking center, behind New York City.

Charlotte is home to the world’s sixth-busiest international airport, Charlotte Douglas International, boasts a high-speed light rail known as the LYNX and is in close proximity to several major interstates, all of which helped the city score high in the infrastructure category.

Additionally, Charlotte scored high in amenities thanks to its more than 60 parks, 20 golf courses and seven farmers markets.

While the #21 spot out of thousands of towns and cities across America is certainly impressive, the list also ranked our sister city Raleigh as the #2 destination in America, citing its top-ranked universities, stellar job market, and recreation.

Home prices could be on the verge of heating up again, according to CoreLogic

Home prices in January rose at the slowest pace in nearly seven years, but buyers shouldn’t feel too confident just yet. Prices might be on the verge of picking up yet again.

Home values in January were 4.4 percent higher than a year earlier, smaller than the 4.7 percent annual gain in December, according to CoreLogic. Price gains have been shrinking since April, when they peaked at a 6.6 percent gain. January’s read was the smallest gain since August 2012.

“The spike in mortgage interest rates last fall chilled buyer activity and led to a slowdown in home sales and price growth,” said Frank Nothaft, chief economist for CoreLogic. “Fixed-rate mortgage rates have dropped 0.6 percentage points since November 2018 and today are lower than they were a year ago. With interest rates at this level, we expect a solid homebuying season this spring.”
The average rate on the 30-year fixed mortgage rose above 5 percent at the start of November but then began sliding. It now sits around 4.5 percent, right around where it was a year ago, when price gains were in the 6 percent range annually.
So that could mean the end of the current price chill, as more buyers this spring compete for a still-slim supply of listings for sale. Inventories have started to rise nationwide, but mostly on the higher end of the market, which is not where the bulk of current demand is. The supply of entry-level homes for sale is still very, very low, as builders continue to focus on more expensive homes, given today’s high costs for land and labor.

Last spring, bidding wars were the rule, not the exception, but homes began sitting longer over the summer. In California, where home prices surged highest, sales stalled in the fall to the slowest pace in over a decade. Higher interest rates were the tipping point for buyers. Interest rates are not as low as they were following the recession, but they have pulled back enough to entice buyers again.

“As we head into 2019, we can expect continued strong employment growth and rising incomes which could support a reacceleration in home-price appreciation later this year,” said Frank Martell, president and CEO of CoreLogic.

BestCo Announces $47.5 Million Expansion in Mooresville Creating 141 Jobs

Healthcare product manufacturer BestCo LLC has just announced a $47.5 million expansion in Mooresville(Lake Norman), which will create 141 jobs with an average salary of $48,308 (about $1,000 higher than Iredell County’s average).
Governor Cooper sent out the following statement about the announcement:

“Companies choose to invest in communities where they’ll be able to succeed, and BestCo decided to expand in Mooresville because it knows this community. Employers that know North Carolina know we have the talent, infrastructure and businesses climate they need to thrive.”

BestCo was originally founded in 1976 as Beacon Sweets in Newark, New Jersey and moved to their current Mooresville location in 1988.
They started as a confectioner and is now a leading developer of consumer healthcare products, including over-the-counter drug products and dietary supplements. They offer product development and testing, manufacturing, packaging and marketing services to private label and contract manufacturing clients in the consumer healthcare and retail industries, including Fortune 100 companies.

A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate BestCo LLC’s expansion of its existing facility in North Carolina. The One N.C. Fund provides financial assistance to local governments to help attract economic investment and to create jobs.

The starting average salaries for the new jobs will vary by position but will average $48,308, which is currently higher than the Iredell County average individual income of $47,345.

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The Charlotte By The Lake Team

 

Charlotte By The Lake Realtors

Brandybuck Dr

Charlotte

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NC

28269704-380-1213