Charlotte Real Estate News
Obama administration to provide $3B in housing aid
Wednesday August 11, 2010
WASHINGTON (AP) -- The Obama administration is providing $3 billion to unemployed homeowners facing foreclosure in the nation's toughest job markets.
The Treasury Department said Wednesday it will send $2 billion to 17 states that have unemployment rates higher than the national average for a year. They will use the money for programs to aid unemployed homeowners. Some of those states have already designed such programs.
Fed, Citing Slowdown, to Buy U.S. Debt
Tuesday August 10, 2010
WASHINGTON — Acknowledging that the recovery has slowed, the Federal Reserve on Tuesday announced that it would use the proceeds from its huge mortgage-bond portfolio to buy long-term Treasury securities.
By buying government debt, the Fed is taking an unmistakable step to maintain the large amount of money that it pumped into the economy, starting in 2007, to prop up the financial and housing markets....
NoDa buildings may be bid out
Monday, August 2, 2010
The city’s housing and neighborhood development committee approved a bid process to sell two former mill buildings in the North Davidson district.
The committee had been considering a proposal from a partnership of developer Jim Sari and The Bainbridge Cos. that offered $600,000 for the buildings. The Sari-Bainbridge proposal called for 20% of the units at the Johnston and Mecklenburg mills buildings to target lower-income tenants...
Mortgage rates fall for sixth straight week
Thursday, July 29, 2010
Long-term mortgage rates fell for the sixth straight week this week.
Freddie Mac (OTC:FMCC) says the average rate on a 30-year fixed-rate mortgage was 4.54 percent in the week ending July 29. A 15-year fixed-rate mortgage fell to 4 percent. Those are the lowest rates since Freddie Mac began keeping track...
Annexation to give Charlotte modest bump
Thursday, June 24, 2010
Charlotte is set to be a bigger city in 2011 — by 2,434 acres and about 4,100 residents.The city has begun work on annexing three unincorporated areas in Mecklenburg County. They are:
•Rhyne, a 289-acre area north of Mount Holly-Huntersville Road near the Interstate 485 interchange that includes the Cedar Mill community.
•Whitehall, a 665-acre development southwest of the city that includes parts of the Whitehall and Renaissance Center business parks and the Villas at Laurel and Carrington Place communities.
•Camp Stewart South, a 1,480-acre area east of the city along Albemarle and Harrisburg roads that includes Lamplighter Village, Cedarbrook and Woodbury communities, J.H. Gunn Elementary School and the Wilgrove airport.
The three areas total 3.8 square miles. They’re much smaller than the areas annexed in 2009, which totaled 11 square miles and 18,500 residents. Charlotte Business Journal
Carolinas' jobless rate drops again in May
Saturday, Jun. 19, 2010
The unemployment rate in the Carolinas dropped again last month to the lowest levels in at least a year, but the recovery still has a long way to go.
In May, North Carolina's unemployment rate was 10.3 percent, the N.C. Employment Security Commission reported Friday. That was down from 10.8 percent in April, but still above the national average. Charlotte Observer
Tax breaks for N.C. businesses closer to passage
Friday, Jun. 18, 2010
Tax breaks for airlines, NASCAR race teams and paper factories drew barely a mention, but a $300 million bundle of business sweeteners drew opposition Thursday to subsidizing the salaries of movie stars.
Still, attempts to trim the collection of inducements for business and job growth failed before the state House tentatively approved the legislation 76-28. A final House vote is expected Monday.
The incentives package also includes breaks meant to attract two computer data centers, an energy turbine manufacturer and a plant converting wood pulp to paper. If all of the unnamed companies moved into the state, they would combine for more than 1,500 jobs and nearly $2 billion in investment, lawmakers said. Charlotte Observer
