December 2018 Published monthly
Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City
NEWS INSIDE Tech talk
Will economic boom continue in 2019? Charlotte MSA is adding jobs faster than the state
The fastest-growing tech occupation around Charlotte is ‘computer systems engineer’
$20 Million Project An age-restricted residential development will be adjacent to one of the largest churches in North Meck
Cheryl Kane Our resident Sales Maven lays out a plan for managing through the end-of-theyear
Volume 17, Number 9 $1.50
Charlie Dougherty: Wage growth is ‘missing piece to the recovery’
BY ERICA BATTEN The economic outlook is very positive right now and into the new year—especially for Charlotte. Wells Fargo economist Charles Dougherty, who spoke at the November Newsmakers Breakfast hosted by Business Today, said, “Things are really good right now.” GDP growth is at 3 percent, there have been 100 consecutive months of gains in the labor market, and unemployment is as low as it’s been since 1969, Dougherty said. He expects unSee Boom page 22
Downtown Mooresville by the numbers Business is booming in downtown Mooresville
FY2018 Public investment
FY2018 Private Investment
Net job gain
37 * Source: Mooresville Downtown Corp.
Famous Toastery owners eggcited about Concord BY DAVE VIESER When best friends Brian Burchill and Robert Maynard opened their first Famous Toastery’s store back in 2005 little did they know their “cozy” breakfast spot in a small house turned restaurant in Huntersville would grow into 34 busy locations throughout the US, including 21 in North Carolina. With plans for a new store to open early next year in Concord, to complement their Concord Mills location, these are hearty times for Famous Toastery. Maynard says their success stems from keeping their quality high. “We’ve never sacrificed the food quality; we use the best ingredients you can get. People say that all the time, but we actually really do. Also, we treat our employees right and help See Toastery page 14
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The resale market is changing very quickly, but in whose favor? Outlook from Pat Riley, the CEO of Allen Tate
2 December 2018
Tar Heel tech: IT jobs grow without Amazon BY ERICA BATTEN When Amazon announced its choices for two new headquarters locations, more than 200 cities that were not New York and Arlington, but had submitted proposals, were left wondering where they came up short. Raleigh, one of the cities that applied, was also the only North Carolina metro area in Amazon’s 20 finalists. Not to worry: Amazon is not the beall, end-all of all things tech. In fact, the Tar Heel State tech environment is doing just fine, thank you very much. According to a report by NC Tech Association, a networking and advocacy
headquarters to another city, Amazon occupied 19 percent of Seattle’s prime office space. Housing shortages, traffic congestion and income inequality led to a backlash against Amazon. In North Carolina, tech jobs are spread across the state. While the Research Triangle area is perhaps best known for being a center of IT employment, other well-known tech companies have opened elsewhere. Google has a major data center in Lenoir, employing 250 workers. Apple’s facility in Maiden has between 400 and 500 employees, according to Catawba
IT Jobs: Openings show strong demand for talent
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NC Tech hiring continues to come from a wide swath of employers, with half of the top companies hiring tech talent being non-tech companies.
Source: NC Carolina Technology Association Data pulled from NC IT Job Trends Report produced by North Technology Association 919-856-0393 / nctech.org organization with 200,000 members, the number of IT job postings in North Carolina has increased almost 25 percent in the past year to reach 25,697 jobs. And while each new Amazon hub is expected to bring an attendant 50,000 high-paying jobs along with five times that many indirect jobs, such a concentration of highly-paid talent may also be burdensome. USA Today reports that among Amazon’s reasons for opening not one but two new headquarters—an unusual move—was that Seattle had grown somewhat weary of the tech giant. At the time it announced intentions to expand
County officials. The NC Tech report cited software developer Oracle as the top hirer of tech talent last month. Many of its employees work remotely. But it’s not just tech companies hiring IT talent. The retail industry saw the greatest gains in IT job postings, with a 93 percent increase over the past year. In addition to Oracle, North Carolina’s top tech employers are IBM, Bank of America, Wells Fargo, Cisco, Deloitte, Verizon, NTT Data, BB&T and Lowe’s. IT Jobs continued on page 3
Continuum doubles some internet speeds from Mooresville-based Continuum is increasing internet speeds for its residential customers by up to 100 percent, while at the same time keeping monthly service rates level. The new broadband speeds help position Continuum as one of the most competitive providers in the market. The company, which serves Mooresville, Davidson and Cornelius, also introduced “Ultimate Broadband” which features speeds of 500Mbps X
20Mbps. “We recognize the wide-ranging bandwidth requirements our customers have and want to provide a solution for those varying needs,” said David Auger, CEO of Continuum. “From the average Internet user to the heavy gaming household with multiple devices, we strive to offer our customers options that rightly work for them,” he added.
IT Jobs from page 2
also a cyclical effect. “Technology has increased the relative productivity of skilled labor, and therefore its relative demand,” said Wells Fargo economist Sarah House and economic analyst Ariana Vaisey. Declining labor supply makes it harder for employers to hire workers and pushes up compensation costs, increasing the incentive for organizations to implement labor-saving technologies. Providing access to education and training programs can help ensure that more workers find opportunity in the changing labor market and have the required skills to take up jobs in occupations that complement new technologies, House and Vaisey said. While Amazon may have passed on the Tar Heel State, we do have most of the attributes the company was looking for: A business-friendly environment, international airports, areas that are attractive to strong technical talent, large metropolitan areas and excellent universities. Perhaps that’s why Advanced Auto decided to move its headquarters from Roanoke, Va., to Raleigh, a decision it announced in October. Advance will offer tech positions related to data analytics, digital marketing and e-commerce. “Talent availability is absolutely the number-one driver,” said Advance Auto CEO Tom Greco.
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4 December 2018
Ray Evernham acquires JRi Shocks in Mooresville Motorsports icon and NASCAR Hall of Famer Ray Evernham has acquired Mooresville-based JRi Shocks for an undisclosed amount. Evernham will be involved in all areas of the business, including marketing and sales strategy, new product design and operations. JRI founder, Jeff Ryan, will continue to play a key role in the organization as both a partner and the vice president of engineering. “Since retiring from the competition side of NASCAR, I have been itching to find an opportunity to continue using my experience in business and engineering, so when JRi was presented
to me it was a natural fit,” said Evernham, who has worked with Ryan for more than 30 years. JRi Shocks, which Ryan launched in 2007, manufactures high performance shock absorbers for drag racing, motorcycle, off-road, short track, stock car and street performance, as well as planes, boats and trains. “What really drew me to JRi is the work Jeff and his team are doing outside of racing. From street performance to off-road, they are creating some of the most functional, highest quality shocks on the market. I am really looking forward to working with
Ray Evernham and Jeff Ryan Jeff to take JRi to the next level,” Evernham said. Evernham will focus on customer service, expanding product offerings and continuing to gain market share in the aftermarket shock industry. “With Ray Evernham as the owner and with same shared disciplines, JRi will be able to focus on product innovation and achieve our ultimate goal of
delivering the best products and services to our customers. I am looking forward to writing JRi’s next chapter while building on our current performance with a dedicated team in place that has been chosen to pilot the future trajectory of the company,” Ryan said.
Jeff Tarte receives award from NC Tech Wes Carney
NC Senator Jeff Tarte NC Sen. Jeff Tarte, has received the 2018 “Public Leader of the Year” award from NC Tech, the leading organization for technology executives in North Carolina. Tarte ran his own technology-based healthcare services firm before launching a second career in public service, first as mayor of Cornelius and then in the state legislature. Tarte led the Senate Chair of the Joint Legislative Oversight Committee for Information Technology in the NC General Assembly. He had appropria-
tions oversight of annual technology spending of nearly $2 billion across all state agencies. After redistricting, he was defeated in November by Davidson resident Natasha Marcus who will assume office Jan. 1. NC Senate District 41 is one of the fastest growing in the state, with a dramatic influx of unaffiliated voters. Tarte, who is 62, plans to focus his attentions on a valve company he is involved in which brings technology to the water flow industry. Another run for public office isn’t planned right now. Brooks Raiford, president & CEO of NC Tech, said other legislators looked to Tarte for guidance and leadership on tech and innovation policy. Tarte was honored Nov.15 at an event at the Sheraton Imperial Hotel in Research Triangle Park.
6 December 2018
Land sale highlights mega-trends in churches, commercial real estate BY DAVE YOCHUM NC Homes Associates plans to build 110 age-restricted living units on property purchased from a church blessed with abundant property in Cornelius. The development company is paying roughly $1 million for 8.45 acres of land owned by Mt. Zion United Methodist Church. There are 100 condo units, each up to 1,700 square feet, planned in a total of six buildings, as well as 10 patio units in the Cornelius Woods project, according to veteran developer Curt Needham. The project, valued at $20 million, reflects megatrends under way in both demographics— an aging population in North Mecklenburg— and real estate. In addition to grandparents Knox wanting to be near their grandchildren, there’s the nationwide trend away from brick and
Prices at Cornelius Woods will start at $195,000 and go up to $350,000
mortar retail. Witness the retail apocalypse at major companies like RadioShack, Payless ShoeSource, Toys “R” Us, Kmart and Bon-Ton. Amazon gives us the convenience of placing an order online and getting it two days later. You can set up online buying so that your paper towels, and potato chips arrive at regularly scheduled intervals. The experience, however, is lacking. Physical churches provide community and connection,
both fast disappearing from everyday life. Analog begets dialog. Mainline churches have historically controlled both the area for their buildings and excess land surrounding them for uses such as cemeteries, recreation buildings, and occasionally ballfields. “With a significant shift toward cremation, space demand for cemeteries has dropped,” said Charles Knox, president of The Knox Group, a com-
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mercial real estate brokerage based in Huntersville. Excess land is, well, excess. “Churches often sell excess assets that don’t fit into their fu- Needham ture plans, but could help fund a building expansion at its current location,” said Robert Lowrance, founder of Lowrance Properties, a commercial brokerage. Newer churches often prefer renovating existing spaces or having more focus on the interior space rather than extra land for auxiliary uses. Storefronts without a powerful experiential component have suffered like Job— and churches provide the ultimate in experiential uses. “Many smaller new churches occupy space in retail or industrial buildings,” Knox said. Elevation Church moved into a former theater in Cornelius, “which shows the focus on the building over large green field sites,” Knox said. At Cornelius Woods, prices will range from $195,000 to about $350,000 for the patio homes. Residents will have access to a 5,000- to 6,000-square-foot, church-owned ministry center on-site, complete with gathering rooms and a warming kitchen. Ground-breaking for Cornelius Woods is set for early next year, with construction getting under way in late spring or early summer. Ike’s Construction in Kannapolis is the general contractor.
8 December 2018
Betty Honeycutt, Ralph Hartsell get lifetime awards from peers
Betty Honeycutt and Ralph Hartsell Two real estate icons in Cabarrus County have received awards from their peers. Betty Honeycutt, part of Team Honeycutt at Allen Tate’s Concord office, has received the Lifetime Achievement Award from the Central Carolinas Association of Realtors. The mother of Team Honeycutt founder and Cabarrus County Commissioner Diane Honeycutt, Betty has been selling homes for more than 50 years. The 87-year-old began selling homes for her late husband, Ed Honeycutt who was a builder in South Carolina. She became a licensed Realtor in North Carolina in 1978. Known as much for her giving and sharing spirit, she was also a Business Today Lifetime Achievement winner in 2015. Long-time Cabarrus Realtor Ralph Hartsell also received the Emeritus Award from the National Association of Realtors. He served twice as the president of the Realtors association. The Coldwell Banker Realtor grew
up in Cabarrus County and graduated from—you guessed it—Hartsell High School. He served in the US Navy, and graduated from Burtons Institute and attended Evans Business College. He met and married his wife Doris in 1954; they have been married for 54 years. He obtained his real estate license in 1972, and ran a successful Century 21 Real Estate office for nearly a quarter of a century. Hartsell has served on the Board of the Cabarrus County Boys and Girls club for 30 years. He served a threeyear term on the board of the Concord-Cabarrus Chamber of Commerce and Merchants Association. The lifetime achievement awards were presented to Honeycutt and Hartsell at the Central Carolina’s Christmas party at Kannapolis City Hall Dec. 4. The Central Carolinas Association of Realtors represents brokers, property managers, appraisers and real estate counselors in Cabarrus, Stanly and Montgomery counties.
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10 December 2018
News from www.Businesstodaync.com
Rowan-Cabarrus Community College acquires acreage in Concord
Rowan-Cabarrus Community College has purchased two parcels of land totaling 16.44 acres near the South Campus in Concord from Crown Court. The additional acreage will accommodate the growth in Cabarrus County and the College’s future over the next three decades. “The College has long recognized the need to keep pace with the growing
needs of its communities, especially in Cabarrus County where the population is growing quickly,” said Carl M. Short, chair of the Rowan-Cabarrus Community College Board of Trustees. RCCC/South Campus sits on 23 acres and the parcels, which are located directly across Trinity Church Road, a logical expansion. Additionally, Cabarrus County purchased a third parcel adjacent to the two Crown Court Properties, totaling 8.87 acres with a purchase price of $1,241,800. The three pieces of property total 25.31 acres.
Online work-based learning tool links classrooms with careers Gov. Roy Cooper has announced a free online tool to help connect education and careers. The new work-based learning tool, called The Navigator, links business, education, and workforce development communities online so they can post, search for and measure work-based learning opportunities. The opportunities range from guest speaking roles to apprenticeships, posted by businesses and used by educators. The Navigator will debut at the December 7 Experience More Summit on Work-Based Learning hosted by the North Carolina Business Committee for Education. To tour The Navigator, visit: https://www.experiencemorenc. com The Navigator platform was developed through a partnership between
the governor’s office, Fidelity Investments and the North Carolina Business Committee for Education. It is populated by employers who list virtual and in-person work-based learning activities. Educators, counselors and job coaches then go online to ‘shop’ for those opportunities. There is no cost to list and no cost to shop. “In a 21st century economy, we can make every day career day, and to succeed in connecting education to careers, putting employers and educators together to give students a real taste of the skills they need,” said Cooper. “The Navigator platform streamlines this connection and helps our students get real-world exposure that will help them chart the best educational path.
News from www.Businesstodaync.com
Ingersoll Rand lands energy, environmental awards Nov. 20. Ingersoll Rand has won the U.S. Chamber of Commerce Foundation’s Corporate Citizenship Award for Best Environmental Stewardship. The Davidson-based maker of commercial heating and air-conditioning systems was recognized for addressing greenhouse gas emissions in its own operations and products, and continued research for a sustainable future. The company achieved its commit-
erations-related greenhouse gas emissions by 37 percent—two years ahead of schedule. Meanwhile, the U.S. Department of Energy awarded Ingersoll Rand a 2018 “Better Practice” award for energy management initiatives that reduced energy consumption by 50 percent at its Trane plant in Waco, Texas. “Ingersoll Rand’s commitment to environmental stewardship runs deep
“The company achieved its commitment to reduce its own greenhouse gas footprint by 35 percent by 2020” ment to reduce its own greenhouse gas footprint by 35 percent by 2020 by focusing on four areas: Energy reduction, optimization of refrigerant charging, upgrading its fleet to improve gas mileage, and renewable energy. Over the past four years, it has reduced op-
and is core to how we operate and help our customers succeed,” said Eric Rankin, vice president of Environmental Health and Safety at Ingersoll Rand. The U.S. Chamber of Commerce Foundation Corporate Citizenship
Ingersoll Rand team, including Eric Rankin, Debbie Kalish, Rachel Friend and Mikhael Vitenson, accepted the award Awards honor businesses for their significant positive impacts in communities around the world. For 19 years, this awards program has illustrated how every day businesses serve as a powerful force for good around the world. Companies and chambers of commerce from around the globe compete for the
citizens awards, making them one of the most coveted opportunities for recognition in corporate citizenship. The Chamber Foundation announced the winners of the 2018 Citizens Awards on Nov. 15 at a ceremony in Washington, D.C.
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14 December 2018 Toastery from page 1
are the founders of Famous Toastery
give them career paths to grow with us and transfer across different restaurant locations,” Maynard said. Famous Toastery has a no-fryer/noheat-lamp policy, especially when it comes to the thick-cut black label bacon. Maynard and Burchill are both natives of New York. Burchill’s experience spans 15 different restaurants in New York, including E.A.T. under the tutelage of New York food guru Eli Zabar. Famous Toastery evolved into a franchise system in 2013, as news about their fresh-made breakfasts and fun atmosphere spread. The concept spread quickly serving new and loyal clients dishes such as made-from-scratch banana and peanut butter stuffed French toast and avocado omelets. Today, they employ about 1,250 people nationally, including some 800 in North Carolina. Employees are well trained and move quickly. Orders are taken at the tables on I-pads by the servers and transmitted to the kitchen immediately. Every server also pitches in to run food, fill drinks, and replenish
coffee. Most orders are filled within 5-10 minutes. “I like to say every server is your server because it’s true” Maynard added. The better-breakfast brand continues its national expansion, on pace to have 55 locations by the end of 2019. “We’ve never lost sight of our roots. We are based in Davidson and keep our roots close to the heart. We don’t consider ourselves a chain, we just consider ourselves a local group. We don’t try to be somebody we’re not. We just offer a great breakfast, live our ‘Ever Server is Your Server’ motto, and try to do a really good job at what we do. That’s helped us do so well.” What’s ahead for Famous Toastery? They will be opening stores in Steel Creek, Denver, Lake Wylie and Mountain on the Lake next year along with the Concord location.. All of these will be opening in the first or second quarter of 2019. They also recently launched online ordering, which is expected to expand next year too. Potential franchisees must have $250,000 in liquid cash and a net worth in excess of $500,000.
Wrapping it all up at the end of the year This time of year is when we are often fully fractionalized in our efforts to achieve our goals. We have holiday sales goals, customer appreciation events, year-end organizational efforts, and innumerable personal activities. When the stakes are high, emotions can be super-charged. Compound this with a packed calendar of commitments packed into one 45-day period and we can be left drained of energy and feeling dull and frazzled. This is no condition in which to do our best to sell (or able to enjoy the holidays). What a perfect time to use a simple problem-solving process to formulate better ways to manage ourselves and our responsibilities. Rather than playing chronic catch-up, perhaps you can wrap it all up as you close out the year with sustained energy and higher sales.
Step 1: What are the problems you face every year at this time? • Not enough time to do all you want to do. • Last-minute pleas from others to add their event or need to your calendar. • Failing to accurately estimate how much time each activity/event/process requires. • Not taking care of yourself well: Sleep deprivation, poor eating habits, skipping exercise.
Step two: What better choices can you make? Sometimes you just need to stop. Before becoming a robot-zombie moving at break-neck speed, take time to evaluate your situation before you ford the stream of non-stop stimuli and everchanging to-do-lists. Physically write out the answers to a few questions: • How do you want to feel at the end of the year about the results of your efforts? • What things do you not want to do? • In each facet of your life, what are the few big things you want to make sure not to miss doing well in this time period? • What needs to be done, vs. what would be nice to be able to do?
When you temporarily remove yourself from the torrent of non-stop distractions and contemplate your life in simple terms, you may see relationships between the answers to these questions. • How does it feel to simply say, “No” to what you don’t want to do and eliminate it without delay? Some yearend and holiday rituals just don’t serve a purpose to us; free up your time for more valuable efforts. • Does a clearer priority for what you need to focus on come into view? • Can you see how to gain control over your responsibilities-and the decisions in how you spend your time? Rank primary priorities as A, B, and C: A items are the “must do without fail.” The B list you will do if you reasonably have time for them and if As are assured to be done. Items in B never put A items at risk of not being done well and on time. Cs are those things you should have said “no” to already, or, perhaps may become B’s another year.
Step 4: How do you protect your time? Learn to say “Thank you, but no, thank you.” If last-minute fun sounding invitations or requests come in, pause, look at your calendar with your priorities. Which of those will be displaced by serendipitous decisions you make? Is it worth it? And why was it a ‘last minute’ request by the other person? You should not let
poor planning by others impair your efforts toward peak performance.
Step 5: Enjoy the results! Focusing on a finite number of prioritized yearend responsibilities then building the rest of your efforts around those may help you feel more focused, calm and be more effective. Generating higher closed sales and creating higher customer satisfaction ratings can reward you many times over. You won’t miss that fractionalized, frazzled holiday overloaded state of mind. The feeling you were able to do many things well and wrapped the year up in high performance mode may be so exhilarating it may propel you into next year’s sales efforts with gusto. Cheryl Kane, is a strategic business consultant, sales trainer, & professional speaker specializing in strategic planning and service quality. If you seek assistance in growing your business, need a business speaker, or have a topic you would like to see in this column, Cheryl welcomes your communication at email: CherylKane@cherylkane.net.
16 December 2018
THIS MONTH TRANSACTIONS…………….... 16-18 FORECLOSURES……………..........18 NEW CORPORATIONS………...18-19
REAL ESTATE TRANSACTIONS These recent property transactions in Cornelius, Davidson and Huntersville were recorded by the Mecklenburg County Register of Deeds.
Mecklenburg County 10/25/18 $265,000 Raymond & Angela Serles to Steven & Clare Lewin, 7014 Church Wood Ln., Huntersville 10/25/18 $375,000 Frank Long & Lynda Dever to Brian & Kristen Leighton, 308 Caldwell Ln., Davidson 10/25/18 $420,000 Carol Mitchell to Gregory & Lisa McCallister, 17213 Pennington Dr., Huntersville 10/26/18 $370,000 Melanie Savu to Diane & Randall Paunlenich, Unit 203 Admiral’s Quarters Condominiums, Cornelius 10/26/18 $300,000 JettonMedical Propertis to SGH/DJS Cornelius, 0.379 acres Jetton Village Phase 3, Cornelius 10/26/18 $487,500 William & Elizabeth Driest to Caycee & Marshall Taft, 18815 Riverwind Ln., Davidson 10/26/18 $275,000 Catherine Hofmann to Cynthia Japec, 19801 Nautical Dr. Unit 202, Cornelius 10/26/18 $609,000 Joshua Mastel & Camryn Skladany to Erin & Jose Suarez, 9903 Coley Dr., Huntersville 10/26/18 $845,000 Steven & Amy Bennett to Russell & RobinRutland, 18113 Shearer Rd., Davidson 10/29/18 $260,000 Debra Dysart to Bruce & Cheryl Westlake, 18709 Nautical Dr., Cornelius 10/29/18 $412,500 South Creek Homes to Theodore & Gladys Tomter, 17734
On T he R ecord Morehampton Ave., Cornelius 10/29/18 $316,000 Opendoor Property W16 to Daniel Manning, 16121 Kelly Park Cir., Huntersville 10/29/18 $542,00 Bradley & Tracey Corkwell to Todd & Kristina Wilhite, 21405 Pinecrest Pl.,Cornelius 10/29/18 $436,500 Heidi Hines to Barry & Beth Draughon, 17004 Bridgeton Ln., Huntersville 10/29/18 $500,000 Standard Pacific of the Carolinas to John & Mary beth Scharer, 17538 Julees Walk Ln., Davidson 10/30/18 $266,500 David & Jenna Tyrell to Melinda McChristy, 10322 Caldwell Depot Rd., Cornelius 10/30/18 $433,500 Cynthia & Paul Panara to Thomas & Ann Dutton, 11507 Warfield Ave., Huntersville 10/30/18 $1,050,000 James & Cynthia Griffin to Deborah Longano, 18512 Peninsula Club Dr., Cornelius 10/30/18 $405,000 Mark & Beth Patafio to Allen & Kathryn Coogen, 1140 Woodhall Dr., Huntersville 10/30/18 $780,000 Classica Homes to Pal & Jenne Kersten, 17740 Jetton Green Loop, Cornelius 10/30/18 $277,000 Ryan & Kristina Hunt to Aric & Ashley Renzo, 15511 Troubadour Ln., Huntersville 10/30/18 $327,500 Kevin & Samantha Englestad to Opendoor Property N, 7702 Epping First Dr., Huntersville 10/31/18 $760,000 Carolina Cottage Homes to Matthew Wakefield, 723 Patrick Johnston Ln., Davidson 10/31/18 $770,000 Lynn & Peterson Giallanza to Kristin & Travis Fields, 17530 River Ford Dr., Davidson 10/31/18 $321,500 Erin & Jose Suarez to Barbara Bohlayer, 9632 Skybluff Cir., Huntersville 10/31/18 $265,000 Kiribala & Rajani Kanayson to Opendoor Property C, 17904 Caldwell Track Dr., Cornelius 10/31/18 $365,000 Joshua & Laura Meredith to Michael & Emily Riggs, 7505 Chaddsley Dr., Huntersville 10/31/18 $392,000 Nancy Fey-Yensan & Lester Yensan II to Paul & Melinda Kozulis, 10300 Lafoy Dr., Huntersville 10/31/18 $480,500 Taylor Morrison of Carolinas to Satish Pakalapati & Srilatha
Pammina, 9111 Hightower Oak St., Huntersville 10/31/18 $258,000 Kelly Mullins, Jeffry & Carolyn Mullins to Bernadette Dolan, 19408 Makayla Ln., Cornelius 10/31/18 $652,000 Linda Smith to Jeffrey & Karen Hughes, 7827 Preserve Pond Rd., Cornelius 10/31/18 $515,000 Theodore & Vicki Fillmore to David & Marjorie Lewis, 17031 Morgan Evans Ln., Cornelius 11/1/18 $417,000 South Creek Homes to Carol & Jef Evans, 18744 Coulter Pkwy., Cornelius 11/1/18 $490,000 David & Michele Margulis to Gerald & Christine Irwin, 9214 Cross Oak Pl., Huntersville 11/1/18 $373,000 Bradley & Katie Dukes to Jeffrey & Lacey Barrett, 20309 Wilcher Ct., Cornelius 11/2/18 $535,000 Denise & Louis Bouthillette Jr. to Clay & Amy Fowler, 9534 Devonshire Dr., Hunterville 11/2/18 $485,000 Craig & Holly Smith to John & Trina Roeder, 11926 Bradford Park Dr., Davidson 11/2/18 $994,000 Scott & Karen Smith to Robert & Susan Locke, 16239 Sasanoa Dr., Cornelius 11/2/18 $300,000 Neil & Deborah Roberts to Deborah Griffith, 17811 Half Moon Ln. Unit B, Cornelius 11/5/18 $293,000 Paul & Veronica Semiraro to Orlando Spears, 12811 Glassonby Ct., Huntersville 11/5/18 $899,000 Gary Olnowich & Karen Yoder, and Deborah Flowers to Kimberly & John Garrett Jr., 2144 Country Club Dr., Cornelius 11/5/18 $323,000 Stephen Batsa & Sha Ou to Jonathan & Andrea Escondo, 227 Quail Crossing, Huntersville 11/6/18 $254,500 Cheryl Armstrong to Donald Jackson, 17210 Asti Ct., Cornelius 11/6/18 $335,000 Meshack & Marcy Cleary to Maria Campbell, 12541 Surreykirt Ln., Huntersville 11/8/18 $435,000 Jeffrey & Karen Hughes to Jacqueline & Anthony McBride, 8635 Camberly Rd., Huntersville 11/8/18 $523,000 Wayne & Mary Farley to Brian & Tiffany Walsh, 12226 Farnborough Rd., Huntersville 11/8/18 $350,000 Thomas & JoAnn Boardman to Tiona Stephens, 16224 Hollingbourne Rd., Huntersville 11/9/18 $308,000 Jerame Donley & Matthew Mongrillo, 12507 Surreykirt Ln., Hutnersville 11/9/18 $313,000 David & Marjorie Davies to Joshua & Ashley Hinrichs, 13523 Provincial Ct., Huntersville 11/9/18 $384,500 Christopher & Rachel Harden to Cameron & Jessica Swaim, 8920 Lake Pines Dr., Cornelius 11/9/18 $378,000 Jamie Kopish to Amanda & Stephen Mewborn Jr., 15822 Stonemount Rd,. Huntersville 11/9/18 $356,000 Traci & Charles Hogg Jr. to Jason & Marina Conte, 15119 Liberty Ridge Ln., Huntersville 11/13/18 $252,500 John & Carlie Gianninoto to Joshua & Devyn Bishop, 18505 Victoria
Business Today Bay Dr., Cornelius 11/13/18 $365,000 James & Leeann Dolan to Olena & Valentyn Tsaryk, 8839 Cherry Blossom Ln., Cornelius 11/13/18 $1,887,500 Ronda & John Phillips Jr. to Erin & Nicolas Beaupre, 18519 Peninsula Club Dr., Cornelius 11/13/18 $355,000 Matthew & Candace Baroni to Homeford LLC, 22214 Market St., Cornelius 11/14/18 $390,000 South Creek Homes to Kathleen Ney, 17913 Coulter Pkwy., Cornelius 11/14/18 $253,500 Dale & Jettie Harlan to Jessica Salazar & Jennie Wood, 14541 Holly Springs Dr., Huntersville 11/14/18 $325,000 Clark & Suzanne Carter to John & Susan Ford, 13120 Province Valley Pl., Huntersville 11/14/18 $315,000 Paul & Mary Dozier to John & Jennifer McLamb, 430 Senate Court Way, Huntersville 11/15/18 $286,000 Linda Cooke to Alexander & Courtney Ballard, 7413 Gilderstern Glen Ct., Huntersville 11/15/18 $675,000 Carolina Cottaged Homes to Randall Rogers & Qing Zhang, 703 Patrick JohnstonLn., Davidson 11/15/18 $718,000 Teresa & Raymond Sykola Jr. To Kelly McCarney, 8418 Robbins Crescent Dr., Cornelius 11/15/18 $340,000 Paulette Schramm & Hassen El Houmaidi to Judith Finn, 13306 Fremington Rd., Huntersville 11/15/18 $1,185,000 Jeffrey & Linda Blum to Michelle & Kerry Devinney, 19017 Peninsula Club Dr., Cornelius 11/16/18 $465,000 James Davidson to Justin & Kelly Revels, 11906 Cupworth Ct., Huntersville 11/16/18 $300,000 OfferPad to HP North Carolina I, 16017 Hollingbourne Rd., Huntersville 11/16/18 $497,000 Justin & Kelly Revels to John & Myra Southwell, 14110 Bramborough Rd., Huntersville 11/16/18 $256,000 John & Myra Southwell to Albert & Irene Alderette, 16122 Farmall Dr., Huntersville 11/16/18 $887,500 Moorestate Development to Craig & Holly Smith, 17120 Arkansas Ln., Davidson 11/16/18 $405,000 Ronald & Anna Wilbanks to David & Annette Hines, 21357 Harborgate Unit 202, Cornelius 11/16/18 $305,000 Robert Rucker to Benito Garrido, Lot 103 Lake Norman Cove at Jetton, Cornelius 11/16/18 $333,000 Lara Sellers & Aleta Dunbar to Daniel & Megan Williams, 9050 Salford Ct., Huntersville 11/16/18 $238,000 Todd & Julia Trimakas to Levon & Joseph Handsome, 18611 Victoria Bay Dr., Cornelius 11/20/18 $305,000 Robert Rucker to Benito Garrido, Lot 103 Lake Norman Cove at Jetton, Cornelius 11/20/18 $306,000 Judith Finn to Stephen Halstead, 16114 Hollingbourne Rd., Huntersville 11/20/18 $733,000 Eddy Rugel to Scott & AlisonHumne, 21513 Crown Lake Harbor Dr.,
Business Today Cornelius 11/20/18 $475,500 Taylor Morrison of Carolinas to Joseph Bleiler & Lauren Kelly, 8740 Shadetree St., Huntersville 11/20/18 $313,000 Douglas & Lynne Gagnon to John & Linda Kincaid, 9423 Rosalyn Glen Rd., Cornelius 11/20/18 $432,500 Iris Giannaccini to Reginald & Allison Talbert, 1154 South St., Cornelius 11/20/18 $380,000 Reginald & Allison Talbert to Carter & Shanna Reeb, 1138 South St., Cornelius 11/20/18 $295,000 James & Jane Cast to Erica & Matthew Horisk, 8209 Ballymore Ct., Huntersville 11/20/18 $920,000 Kevin & Karen Jehl to Trisha Lawson, 16725 Reinsc Dr., Davidson 11/20/18 $1,230,000 Douglas & Holly Elliott to Michael & Carol Long, 7425 Windaliere Dr., Cornelius 11/21/18 $400,000 Patti & Russell Wallace Jr. to Jon & Donnelle Graham, 17810 Mesa Range Dr., Cornelius 11/21/18 $526,000 South Creek Homesto Per & Stella Kullstam, Lot 318 Bailey’s Glen, Cornelius
More Mecklenburg Transactions online at www.BusinessTodayNC.com
Cabarrus County 10/26/18 $398,000 NVR, Inc. to Abrahm McGill, 7413 Bosson St., Concord 10/26/18 $294,000 Kevin & Ashley Ballantine to Mike & Berlyne Vincent, 9660 Ravenscroft Ln., Concord 10/26/18 $311,000 Eastwood Construction LLC to Jonathan Lambeth, 1252 New River Dr., Concord 10/26/18 $363,000 NVR, Inc. to Lakshmi Kumar & Premkumar Kanniah. 5105 Crabapple Ln., Charlotte 28215 10/26/18 $225,000 NVR, Inc. to Carolyn Hindel & Perry Hines, 10345 Black Locust Ln., Charlotte 28215 10/26/18 $318,000 H & H Constructors of Fayetteville, LLC to Travis & Samelia Jones, 3534 County Down Ave., Kannapolis 10/29/18 $495,000 Jean Davis & Jean Foushee to Julia Raddatz & Adam Brake, 3093 Lin Oaks Pl., Kannapolis 10/29/18 $379,500 Eastwood Construction LLC to Steve Salter, 1131 Burning Emblers Ln., Concord 10/29/18 $293,000 NVR, Inc. to Richard & Aida Aponte, 10339 Black Locust Ln., Charlotte 28215 10/29/18 $373,500 Mattamy Homes to Robert & Juliee Blake, 2710 Cheverny Pl., Concord 10/29/18 $350,000 Eliza Emery to Shari & Zakee Cook, 10634 Waycross Dr., Huntersville 28078 10/29/18 $580,000 Thomas & Brandy Shaver to Michael & Kimberly Hall, 6095 Crayton Rd., Mount Pleasant 10/29/18 $398,000 Niblock Homes, LLC to Lisa Fay, 860 Ainsley Pl., Concord 10/29/18 $389,500 Taylor Morrison of Carolinas, Inc. to Terry & Lane Sayles, 5193 Butternut Dr., Charlotte 28215
O n T he Record 10/29/18 $390,000 John & Rebecca Hammett to Marcus & Rosslyn Singleton, 96 Bridlewood Pl., Concord 10/29/18 $299,500 NVR, Inc. to Indhira Tejeda, 1702 Scarbrough Cr., Concord 10/29/18 $512,000 Taylor Morrison of Carolinas, Inc. to Wasim & Nasim Anwar, 9558 McGruden Dr., Concord 10/30/18 $257,000 Christopher & Nikki Sonney to Cynthia Pelham, 8280 Chadham Oaks Dr., Concord 10/30/18 $350,000 Timothy & Sri Hill to Christopher & Nikki Sonney, 1463 Overlea Pl., Concord 10/30/18 $315,000 Shea Investment Fund III, LLC to Anirban & Ishita Mukherjee, 731 Cherry Tree Ln., Huntersville 28078 10/30/18 $1,000,000 NC-VIII, LLC to Morgan legacy SPE, LLC, 384 Faggart Ave., Concord 10/30/18 $347,500 Todd & Alexis Ouellette to Michael & Sabrina Cuniowski, 9658 Estridge Ln., Concord 10/30/18 $325,000 Clarence Sifford to Raphael Macias & Raven Gomez, 5301 Phaniels Church Rd., Rockwell 10/30/18 $449,000 The Ryland Group, Inc. to Stephen & Kimberly Fisenne, 1174 Grist Mill Dr., Concord 10/30/18 $415,000 Ryan & Stacey Fitch to Francis & Rosellen Tuttle, 1322 Bennington Dr., Concord 10/30/18 $284,000 Offerpad Inc. to Dustin & Amanda Eller, 320 Royal Windsor Dr., Midland 10/30/18 $370,000 John & Susan Stroud to Arie & Elizabeth Hoogendoorn, 9270 Lockwood Rd., Concord 10/30/18 $970,000 Peter & Elizabeth Dekam to Marquis & Rachel Noble, 3930 Oak Hollow Ln., Harrisburg 10/31/18 $272,500 True Homes, LLC to Wattus Squires & Katelyn Reiser, 380 Wyndham Forest Cr., Midland 10/31/18 $530,000 Duncan Charitable Remainder Trust to PP&I, LLC, 8243 Gold Hill Rd., Rockwell 10/31/18 $339,000 Michael & Carla Wallace to MLH Holdings, LLC, 1201 Biscayne Dr., Concord 10/31/18 $263,000 Patrick & Gina Maloney to Michael Boker, 3384 Garret Dr., Concord 10/31/18 $321,000 Brian & Louise Zovy to Gregory & Lisa Kaszycki, 571 Bent Oak Tr., Concord 10/31/18 $261,000 Linda Miles Estate to Ronald & Cassi King, 10363 Lower Rocky River Rd., Concord 10/31/18 $381,000 NVR, Inc. to Lawrence Bethea, 10383 Black Locust Ln., Charlotte 28215 10/31/18 $500,000 M/I Homes of Charlotte, LLC to Komal & Shabana Kambala, 9548 Herringbone Ln., Concord 10/31/18 $273,000 Jarrod & Martina Jones to Kevin & Voleta Pittman, 75 Clydesdale Dr., Midland 10/31/18 $320,000 Kevin & Angela Huntley to Jason & Stephanie Matthews, 140 Overbrook Dr., Concord 10//31/18 $425,000 Taylor Morrison of Carolinas, Inc. to Pradeep Polepalli & Chai-
tra, 5205 Butternut Dr., Charlotte 28215 10/31/18 $285,000 Journey Capital, LLC to Megan Kennedy, 1406 – 1408 Branch Ave., Kannapolis 10/31/18 $403,000 Taylor Morrison of Carolinas, Inc. to Nitin Subanda, 5197 Butternut Dr., Charlotte 28215 10/31/18 $767,000 Elizaabeth Arant to Cong Nhiep & Le Nga Huynh, 11034 Fountain Grove Dr., Charlotte 28262 10/31/18 $270,000 Ronald Lazenby to Michael & Meghan Mouchet, 5530 Dogwood Blvd., Kannapolis 10/31/18 $419,500 Taylor Morrison of Carolinas, Inc. to Vijaykumar & Yogita Bhanderi, 5189 Butternut Dr., Charlotte 28215 11/01/18 $419,500 NVR, Inc. to John & Natsha Williams, 5189 Butternut Dr., Charlotte 28215 11/01/18 $334,000 The Dove House, LLC to Midway’s Opportunity House, 72 Corban Ave., Concord 11/01/18 $347,000 Sangeeth Pandy & Mathura Thirumalai to Rajesh & Dhvani Patel, 1265 Tranquility Point Ave., Concord 11/01/18 $276,000 James & Carla Collier to Daniel & Cynthia Evans, 205 Pinewood Ln., Midland 11/01/18 $309,000 Earnest & Angela Bostick to Albert French, 1480 Overlea Pl., Concord 11/01/18 $401,000 M/I Homes of Charlotte, LLC to 1007 Parkland Pl., Concord 11/01/18 $559,000 M/I Homes of Charlotte, LLC to Shenthan Rajah & Ahalya Shenthan, 9186 Hydrangea Dr., Harrisburg 11/01/18 $484,000 M/I Homes of Charlotte, LLC to Madhumitha Karnati & Sumanth Yanala, 988 Bellegray Ln., Concord 11/01/18 $280,000 Watty & Angela Newsome to Pamela Jordan, 3600 Jim Johnson Rd., Concord 11/01/18 $275,000 Shaun & Regina Poole to Lawrence & Huanita Sullivan, 419 Vintage Hill Ln., Huntersville 28078 11/01/18 $426,000 Taylor Morrison of Carolinas, Inc. to Michael & Brandi Salazar, 9564 McGruden Dr., Concord 11/01/18 $315,000 Chyrone Ragland to Kirk & Julia Nelson, 278 Meadow Oaks Dr., Concord 11/02/18 $300,000 Taylor Morrison of Carolinas, Inc. to Michael & Kaitlin Crownover, 432 Hunton Forest Dr., Concord 11/02/18 $298,000 NVR, Inc. to Valencia Bowers, 1532 Scarbrough Cr., Concord 11/02/18 $255,000 Bryce & Taren Spence to Walter & Alice Azevedo, 3265 Streamside Dr., Davidson 28036 11/02/18 $306,000 Stephen & Cathy Drake to Christopher & Carmen Brinson, 5825 Wingate Way, Concord 11/02/18 $535,000 Valley Development, Inc. to Bonterra Builders, LLC, Lots 135-138 & 203-205 of Cedarvale Farm Subdivision, Midland 11/02/18 $450,000 Journey Capital, LLC to Chase Briscoe, 7905 Dell Dr., Harrisburg 11/05/18 $350,000 Robert & Kara Plaisier to Bartose & Kari Wojszczyk, 607 Lorain Ave., Concord 11/05/18 $403,000 B & C Land Farming, LLC to JKDK Apex LLC, 12000 Reed Gold Mine
Rd., Midland 11/05/18 $328,500 Shea Investment Fund III, LLC to Rahul Palhan & Amrit Sharma, 714 Cherry Tree Ln., Huntersville 28078 11/06/18 $370,000 Li Hui Ling & Zhang Yuan Song to Justin Jacobs & Dwana Marcy, 2957 Donegal Dr. Kannapolis 11/06/18 $377,000 NVR, Inc. to Sumu Cooper & Lysandra Martin, 462 Boulaide St., Concord 11/06/18 $360,000 George & Sherrie Mitchell to Ankh Ali, 8432 Live Oak St., Harrisburg 11/07/18 $1,000,000 Heirs of John Bunyan Green, II, LLC to Flowe Family Farms, LLC, 311 ac. on Garmon Mill Rd., Concord 11/07/18 $281,000 Viorica Aavram to Lindsey Anderson, 8338 Emily Dr., Harrisburg 11/07/18 $325,000 William & Kara Dudley to Angel Lugo & Kerry Mason, 11018 Aspen Ridge Ln., Concord 11/07/18 $279,500 NVR, Inc. to David & Leeann Ledbetter, 1714 Scarbrough Cr., Concord 11/08/18 $565,000 M/I Homes of Charlotte, LLC to David & Melinda Jones, 9187 Waltham Ct., Charlotte 28269 11/08/18 $269,000 Victor & Mary Karam & Pernice Davis, 9622 Waltham Ct., Charlotte 28269 11/08/18 $435,000 James & Sheri Johnson to Iris & Corwin Alexander, 7951 Grimsbuy Cr., Harrisburg 11/08/18 $262,000 Christopher & Meaghan Howard to Morgan Fabian & Jay Finkelstein, 219 Williams Rd., Harrisburg 11/09/18 $545,500 Weekley Homes, LLC to Chad & Lyndsie Dills, 11339 Savannah Grove Dr., Huntersville 28078 11/09/18 $587,500 Linda Helms to Vincent & Rosemarie Bannigan, 374 Sycamore Ridge Rd., Concord 11/09/18 $329,000 NVR, Inc. to Kristine & Louis Franzino, 2393 Drake Mill Ln., Concord 11/09/18 $395,000 Daniel & Kayla Kanary to Michael & Rebecca Powell, 454 Sutro Forest Dr., Concord 11/09/18 $284,500 NVR, Inc. to Renato & Maria Sumallo, 10352 Black Locust Dr., Charlotte 28215 11/09/18 $398,000 Taylor Morrison of Carolinas, Inc. to Bhaskar Siddula & Mayuri Kandagatla, 9593 McGruden Dr., Concord 11/09/18 $378,000 The Ryland Group, Inc. to Dinesh Raju, 2173 Grist Mill Dr., Concord 11/09/18 $328,000 NVR, Inc. to Maurice & Karena Howard, 2373 Drake Mill Ln., Concord 11/09/18 $320,000 Brian & Annette O’Connell to William & Patsy Marish, 7181 Ruth Fidler Ln., Harrisburg 11/09/18 $285,000 Journey Capital, LLC to Dowell Standley, Lots 1 – 5 of A.H. Overcash Property, Rogers Lake Rd., Kannapolis 11/09/18 $750,000 NC-VIII, LLC to Morgan Legacy SPE, LLC, 120 Cascade Dr., & 540 Cabarrus Ave. W., Concord 11/09/18 $600,000 Martin Marietta Materials, Inc. to Wayforth Concord I-1 Land LLC, 15.66 Ac., Villas at Concord Subdivision, Concord
More C abarrus Transactions online at www.BusinessTodayNC.com
18 December 2018
Iredell County 10/15/18 $469,000 Kathleen Kushmider to Tacey Hughes, 420 Big Indian Loop 28117 10/15/18 $445,000 Carl & Melissa Hayes to James & Jessica Younts, 304 Tennessee Cir. 28117 10/15/18 $635,000 Crane Realty to David & Diane Coleman, 348 Catalina Dr. 28117 10/15/18 $403,500 IQ Custom Construction to Matthew & Brittany Fratus, 334 McCrary Rd. 28117 10/15/18 $259,000 Steve & Vera Bell to Jonathan & Loretta Yerkes, 146 Collenton Ln. 28115 10/15/18 $413,500 Lee & Kelly Floyd to James & Erica Gilreath, 101 Jousters Ct. 28117 10/16/18 $288,000 Lennar Carolina to Raymond Mathewkutty Stephen, 133 Eden Ave. 28117 10/16/18 $495,000 Harold Downey Coley III to James Scott Riddle, 204 Quiet Cove Rd. 28117 10/16/18 $400,000 Marty & Alyce Muncus to Richard Graham Fizer III, 123 Christy Ln. 28117 10/16/18 $300,000 Lakewalk Waterfront to Nest Homes, 107 Paddle Loop 28117 10/16/18 $550,000 Nest Homes to Kirk & Tammi Joy Gunhus, 107 Paddle Loop 28117 10/17/18 $279,000 M/I Homes of Charlotte to Antonio & Maria Vasquez, 202 Willow Valley Dr. 28115 10/17/18 $825,000 David & Sheila McMillian to Clifford & Kristi Dietrich, 106 Brick Kiln Way 28117 10/18/18 $464,000 Epcon Blume Brawley to Charles & Iris Binder, 104 Wellspring Way 28117 10/18/18 $269,000 Lennar Carolinas to Christopher & Jessica Maher, 156 Wrangell Dr. 28117 10/18/18 $567,000 Randall & Tanya Wales to Uyen Thi Do Pham & Quang Duy Dang, 118 Chatworth Ln. 28117 10/18/18 $825,000 Rohn & Cynthia Shellenberger to David Fearn & Angela Perrotta, 132 Keel Ct. 28117 10/18/18 $2,604,500 Langtree Development Company to Corvid Technologies, 145 Overhill Dr. 28117 10/18/18 $740,000 Jimmie & Luanne Anderson to Robert & Kristin White, 138 Pinnacle Ln. 28117 10/19/18 $335,000 Lennar Carolinas to Brianne & Daniel Thomas, 107 Lassen Ln. 28117 10/19/18 $378,000 Taylor Morrison of Carolina to John & Carlie Gianninoto, 141 Holsworthy Dr. 28115 10/19/18 $395,000 Epcon Blume Brawley to Emily Drummond, 111 Wellspring Way 28117 10/19/18 $1,395,000 Billy & Susan Gandy to Elizabeth & John Wytiaz, 115 Donaldson Ct. 28117 10/19/18 $290,000 Lennar Carolina to Alfonzo Duncan, 144 Eden Ave. 28115 10/19/18 $292,000 CalAtlantic Group to Gary Ramey & Katina Washington, 167 Paradise Hills Cir. 28115 10/19/18 $330,500 Taylor Morrison of Caro-
O n T he Record linas to Nithin Surendran & Ramya Ramesh, 105 Tetcott St. 28115 10/19/18 $432,00 John & Patricia McCue to Mark Toppel, 129 Prestwood Ln. 28117 10/19/18 $365,000 Irene & Theresa Stone to Wesley & Trudy Golding, 507 Canvasback Rd. 28117 10/19/18 $428,500 Nest Homes to George & Kaula Wasif, 186 Country Lake Dr. 28115 10/19/18 $545,000 Frances Edward Jones to Jesse & Melissa Davis, 432 Beaten Path Rd. 28117 10/19/18 $468,500 NVR Inc. to Ricardo & Patricia Gomes, 142 Tetcott St. 28115 10/19/18 $267,500 Lennar Carolina to RRCAP-SFR V LLC, 517 Alcove Rd. 28117 10/22/18 $262,000 Lennar Carolina to Michael & Sandra Torres, 119 Sequoia St. 28117 10/22/18 $343,000 D.R. Horton to Michael & Judith Ryan, 118 Rosebay Dr. 28117 10/22/18 $348,000 D.R. Horton to Joanne Marie Alexander, 124 Rosebay Dr. 28117 10/22/18 $265,000 Lennar Carolinas to Hongtao Han, 138 Eden Ave. 28115 10/22/18 $275,000 Ella J. Antonelli to James Bogar & Marilyn Radley, 190 Pamlico Ln. 28117 10/22/18 $450,000 Epcon Blume Brawley to Sara L. Seasholtz, 122 Mercyview Ln. 28117 10/22/18 $699,000 Brian & Angela Saylor to Setphen Witmer, 330 Queens Cove Rd. 28117 10/23/18 $433,500 Taylor Morrison of Carolina to Victor & Alissa Stramenga, 116 Tetcott St. 28115 10/23/18 $303,000 NVR Inc. to Kankeo Duron & Noel Castellanos, 127 Tetcott St. 28115 10/23/18 $319,000 Mary & Joseph Sparacio to Larry & Amanda Umberger, 121 Winterbell Dr. 28115 10/23/18 $610,000 Michael & Christy Boutot to Troy & Sharon Graham, 194 Woodstream Cir. 28117 10/23/18 $259,000 Carson & Marianne Norman to Carmenes & Marie Delice, 106 Glenallen Rd. 28115 10/24/18 $540,500 Epcon Blume Brawley to Richard & Brette Zayicek, 161 Valleymist Ln. 28117 10/24/18 $925,000 Wayne & Christine Cline to Ryan & Larisa Kamp, 134 Landover Ln. 28117 10/24/18 $295,000 Chris & Catherine Mills to Brian Lee, 300 Bridges Farm Rd. 28115 10/24/18 $482,000 John & Caroline Johnston to Matthew & Mary Elizabeth Corey, 122 Hammersmith Farm Ln. 28117 10/24/18 $375,000 Ginger S. Rust to RKN 21 LLC, 171 Eagles Landing Dr. 28117 10/24/18 $375,000 RKN 21 LLC to Ginger S. Rust, 171 Eagles Landing Dr. 28117 10/24/18 $335,000 William & Michael Koury to TDK Land Management, 159 Lugnut Ave. 28117 10/24/18 $725,000 Nancy B. Thomas to Ronald & Hiroko Rawald, 137 Chatfield Cove Dr. 28117
More Iredell Transactions online at www.BusinessTodayNC.com
FORECLOSURES Foreclosure actions have been started on the following properties. Items show the date foreclosure documents became public, owners, property address, lien holder, lien amount. After required notices are published, the property is sent to auction.The property then can be sold, not sold (examples: bankruptcy files or action dismissed without prejudice) or the sale postponed.
Mecklenburg County 10/15/18 Kynoy & Bounsouane Sisoukraj, 130 Tradewinds Ct. 28117, Dynex Financial $101,898
More Mecklenburg Foreclosures online at www.BusinessTodayNC.com
Cabarrus County 11/01/18 Heirs of Clifford Cranford, 6601 Cress Rd., Concord, Wells Fargo Bank, $50,500 11/05/18 Alzonda Coppedge and Henry Graham, 519 Denver St., Kannapolis, U.S. Bank, $125,133 11/07/18 Jeffery & Marylin Bogan, 3538 Catherine Creek Pl., Davidson 28036, $178,218 11/08/18 Shannon Suggs, 138 Marshdale Ave., Concord, Wells Fargo Bank, $94,261 11/09/18 Chastity Byrd, 3367 Saddlebrook Dr., Midland, Nationstar Mortgage, $178,427 11/13/18 Jamie Stallings, 519 Kansas St., Kannapolis, Wells Fargo Bank, $113,898 11/14/18 Thomas & Kristina Stern, 10001 NC Hwy. 73 E., Mount Pleasant, Branch Banking and Trust Co., $147,184 11/15/18 Jackie & Kaylin Tucker, 477 Clearwater Dr., Concord, Wells Fargo Bank, $191,468 11/15/18 Eric & Jody Weidemann, 11425 Mount Olive Rd., Gold Hill, Wilmington Savings Fund Society, $59,920 11/16/18 Sue Burns, 1117 Walnut Ave., Kannapolis, Bank of New York Mellon, $90, 360 11/19/18 Joseph & Alisa Evans and Shannon Ellis, 3296 Hawick Commons Dr., Concord, Wells Fargo Bank, $98,700 11/19/18 Robin Prieter, 5909 Firethorne Ln., Concord, JP Morgan Chase Bank, $152, 750 11/19/18 Nicole Bunting, 616 Faith Dr., Concord, Ditech Financial LLC, $137,944 11/20/18 Eric & Jody Weidemann, 11425 Mount Olive Rd., Gold Hill, PNC Bank, $38,000 11/20/18 Brodfort & Lynnette Clinton, 1108 Elrond Dr., Charlotte 28269, Bank of New York Mellon, $289,900 11/21/18 Angela Barrett, 1265 Amber Ridge Rd., Concord, Deutsche Bank National Trust Company, $125,039 11/21/18 Jason & Kimberly Luther, 1019 Castle Rock Ct., Concord, Wells Fargo Bank, $112,917 11/21/18 DeweyCraig, 266 Red Maple Dr.,
Concord, SunTrust Bank, $77,569 11/21/18 Sarah Hinson, 164 Spencer Ave., Concord, Ocwen Loan Servicing, $85,000 11/26/18 Jeraldine Bennett, 53 Wilson St., Concord, US Bank NationalAssn., $78,500 11/27/18 Sherman & Jacqueline Torruellas, 1423 Jabbock Pl., Concord, JP Morgan Chase Bank, $142,700 11/27/18 Denisha Tobin, 680 Magnolia Crossing Cr., Concord, Habitat for Humanity Cabarrus County, $36,000
More Cabarrus Foreclosures online at www.BusinessTodayNC.com
Iredell County 10/15/18 Kynoy & Bounsouane Sisoukraj, 130 Tradewinds Ct. 28117, Dynex Financial $101,898 11/9/18 Bryan Rinker & Amber Coe, 127 Windy Knoll Ln. 28117, Movement Mortgage $380,000 11/16/18 George & Cynthia Gardner, 525 Ridge Ave. 28115, Ameriquest Mortgage $61,500
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NEWCORPORATIONS These businesses have registered with the N.C. Secretary of State.
Mecklenburg County 10/15/18 DNA Firearm Systems Inc., John M. Friguglietti Jr., 575 Davidson Gateway Dr. Ste. 101, Davidson 10/15/18 END Real Estate LLC, Yaron BenYohanan, 18405 Balmore Pines Ln., Cornelius 10/15/18 GolfGym LLC, Kenneth L. Pierce, 20221 Harroway Dr., Cornelius 10/15/18 Senior Life Marketing Group LLC, Ricky Barnes, 19501 W. Catawba Ave. Ste. 290, Cornelius 10/16/18 Gateway JV LLC, Watson Commercial Development Inc., 568 Jetton St. Ste. 200, Davidson 10/16/18 Kristy Krewson Interiors LLC, Kristin Parnell, 19506 Mary Ardrey Cir., Cornelius 10/16/18 Mindful Body Fitness LLC, Laura Whelan, 18801 Vineyard Point Ln., Cornelius 10/17/18 Central Arc Welding Solutions LLC, Joanna L. Von Staden, 12524 Vantage Point Ln., Huntersville 10/17/18 CT Business Enterprises LLC, Chris Toney, 14703 Lyon Hill Ln., Huntersville 10/17/18 Larry Edwards and Associates LLC, Larry J. Edwards, 8709 Great Pine Ln., Huntersville 10/17/18 Lily Jade Entertainment LLC, Erika M. Erlenbach, 209 Delburg St. Ste. 203, Davidson 10/17/18 Parkstone South LLC, Piedmont Land Development Inc., 568 Jetton St. Ste. 200, Davidson
Business Today 10/18/18 Coast to Coast Designs Inc., Douglas Olson, 209 Delburg St. Ste. 133, Davidson 10/18/18 JCGH Consulting LLC, United States Corporation Agents, 13324 Crystal Springs Dr., Huntersville 10/18/18 The Doctors Jacob PLLC, Sara R. Jacob, 11531 McDunkeld Dr., Huntersville 10/18/18 Weathertile Roofing LLC, Keith Cappelluti, 18743 Vineyard Point Ln., Cornelius 10/19/18 Foundation Moto LLC, Scott C. Hauser, 16434 Grapperhall Dr., Huntersville 10/19/18 Sipp Brothers LLC, Robert Sipp, 710 Northeast Dr. #19, Davidson 10/22/18 B&E Cleaning LLC, Benita Segundo Matias, 12129 Hillcrest Ln., Huntersville 10/22/18 Dare 2B More LLC, Laura Anne Sita, 18219 Mainsail Pointe Dr., Cornelius 10/22/18 Endeavor Holdings LLC, Drew A. Richards, 215 S. Main St. Ste. 301, Davidson 10/22/18 Laurel Mountain Preserve Road POA, Joe Shipbaugh, 18605 Northline Dr. Unit 1-4, Cornelius 10/22/18 MB Designs LLC, Matt Bagwell, 19916 Schooner Dr., Cornelius
More Mecklenburg New Corporations online at www.BusinessTodayNC.com
Cabarrus County 10/15/18 American Towing LLC, Peter Gueli, 485 Falcon Dr., Concord 10/15/18 Arrowpoint Corporation, William Shulenberger, 2756 Eva Dr. NW, Concord 10/15/18 Country’s Painting LLC, Olvin Javier Garcia Amaya, 266 Lacoma Ln., Concord 10/15/18 Lamppost Enterprise Inc., Zachary M. Moretz, 300 McGill Ave. NW Ste. 100, Concord 10/15/18 Orbit Express LLC, Edgar Meza, 154 Buck Pl., Concord 10/15/18 PH2 Character Development LLC, Zachary M. Moretz, 300 McGill Ave. Ste. 100, Concord 10/15/18 Truck Shop, Charles Keleman, 2701 Derita Rd., Concord 10/16/18 Dan Cordier Inc., Daniel Cordier, 4501 Windy Rd., Concord 10/17/18 Allison & Allison Logistics LLC, Aundrae Allison, 6571 Derby Ln. NW, Concord 10/17/18 Dark Hydrogen LLC, Jamie Boss, 2557 Fallbrook Pl. NW, Concord 10/18/18 Mary Bowles Youth Empowerment Fund, J. David Bowles, 4595 Gold Hill Rd., Concord 10/18/18 Rease Transit LLC, Sherry Day, 619 Springbrook Ave. NE, Concord 10/18/18 Rock Hill A.M. E. Zion Church of Concord NC, Lisa Grier Lea, 3620 Rock Hill Church Rd., Concord 10/18/18 Sai-K Inc., Jay Vashi, 756 Wales Ct. Apt. 13, Concord 10/19/18 Cedar House Properties LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S. Ste. 103, Concord 10/19/18 Crystal Property Holdings LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S.
On The Record Ste. 103, Concord 10/19/18 Everyday Sisters LLC, Beth Ferriss, 905 Tartan Ln., Concord 10/19/18 Nesher Farms LLC, Bridgett R. Brown, 3955 Longwood Dr., Concord 10/19/18 Viva Nail Spa Inc., Tony Do, 2900 Derita Rd. Ste. 30, Concord 10/22/18 Klome Corporation, Felicienne N. Kueviakoe, 372 Lincoln St. SW, Concord 10/22/18 T.Turner Logistics LLC, Tim Turner, 408 Pitts School Rd. NW, Concord 10/23/18 Ancient Utopia LLC, Weiziong Zhong, 323 Corban Ave. SW #508, Concord 10/23/18 Bella Emilia LLC, Dario Rabboni, 4450 Fortune Ave. NW, Concord 10/23/18 Mana House LLC, Angela D. Batten, 2002 Frostwood Ln., Concord 10/24/18 Adams Transportation of Charlotte LLC, Willet A. Adams III, 5033 Opus Ct., Concord 10/25/18 Y J & J Roofing LLC, Eracleo Luna Tapia, 407 Amhurst St. SW, Concord 10/26/18 Auto Hub LLC, Malek Halawani, 4435 Motorsport Dr. SW Ste. 116, Concord, Cassandra Kinlaw, 1081 Ramsgate Dr. SW, Concord 11/2/18 Sitters On Demand LLC, Lisa Blue, 831 Devonshire Dr. Apt. 20, Concord 11/2/18 Veronica’s Cleaning Services LLC, Martha Ovando, 75 Harold Pl. SW, Concord 11/5/18 BMG Services Inc., Henry Jackson Ritchie, 545 Winfield Blvd. SE, Concord 11/5/18 Cabarrus Civitan Club, Kevin H. Jones, 178 Glenwood Dr. SW, Concord 11/5/18 Julia Property Holdings LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S. Ste. 103, Concord 11/5/18 The R.E.A.L You, Realizing Every Advantage In Life LLC, Monica Fuller Johnson, 1044 Meadowbrook Ln. SW, Concord 11/5/18 Timber Refuge LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S Ste. 103, Concord 11/6/18 Cordelia Anderson Consulting LLC, Cordelia B. Anderson, 1450 Napa St. NW, Concord 11/6/18 DNC Capital LLC, Ricardo Contreras, 1467 Overlea Pl. NW, Concord 11/6/18 Julius Hill Properties LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S Ste. 103, Concord 11/6/18 Maelou Contracting LLC, Christopher L. Gizicki, 669 Wilmar St. NW, Concord 11/6/18 Quant Solutions LLC, Joseph Clements, 518 Wellbourne Ct., Concord 11/6/18 Ramble Lane LLC, Lauren Baker, 268 Kerr St. NW, Concord 11/6/18 Strilka Group LLC, Alicia Strilka, 3557 Alister Ave. SW, Concord 11/6/18 T.J. Enterprises of the Carolinas II LLC, Theresa J. Lindsay, 131 Northchase Dr., Concord 11/7/18 LCM Wall 2 Wall LLC, Gerald Measimer Jr., 787 Cold Springs Rd., Concord 11/7/18 Life on Paws Rescue, Erin L. Hoy, 10002 Pioneer Mill Rd., Concord 11/7/18 M.R.L. Kern Counseling Services PLLC, Matthew Kern, 4190 Brownwood Ln., Concord
11/7/18 Natasha Hemmingway Coaching LLC, Jon-Michael Devine, 8410 Pitt Stop Ct. NW Ste. 150, Concord 11/7/18 South Eastern Sustainable Products LLC, Helena Ells, 901 Marshall Dr., Concord 11/7/18 Thought is Creation Inc., Westly Shakespeares, 366 George W. Liles Pkwy. Unit 1639, Concord 11/8/18 BEX Inc., Martin Kelvin Hall, 2309 Applegate Dr., Concord 11/8/18 Casanova Windows and Doors LLC, Benito Casanova Soriano, 1106 People Ct., Concord 11/8/18 Duke’s Detailing LLC, Meaghan Laduke, 2887 Rockingham Ct. SW, Concord 11/8/18 Fabilouscleaning LLC, Fabiola Fernanda Rivas, 2631 Heidelberg Dr., Concord 11/8/18 La Ochoa Drywall LLC, Juan Diego Garcia Nava, 2901 Tripp Terr. NW, Concord 11/8/18 Masterz Drywall LLC, Ruben Garza, 1029 Ramsgate Dr. SW, Concord 11/8/18 Shelton Road LLC, Ronald D. Richardspon, 1150 Shelton Rd., Concord 11/9/18 Crandy Properties LLC, Craig Dennis, 1459 Saint Annes Ct. NW, Concord 11/9/18 Timeless Reflection PLLC, Amy Elizabeth Kester, 8912 Gentry Rd., Concord 11/9/18 Two Girls Properties LLC, Leanne Anderson, 2310 Roberta Rd., Concord 11/13/18 Kaizen Concepts LLC, Holly Joy McCabe, 4087 Clover Rd. NW, Concord 11/13/18 Morrison Elite Transport LLC, Ashley Morrison, 349 L Copperfield Blvd. #517, Concord 11/13/18 RPI Houses LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S. Ste. 103, Concord 11/13/18 Woody Property Holdings LLC, Stephanie L. Cooper, 5620 Concord Pkwy. S Ste. 103, Concord
More Cabarrus New Corporations online at www.BusinessTodayNC.com
Iredell County 10/15/18 Quality 1st Hardwood Floors LLC, Joseph Masiello, 160 Water Oak Dr. 28117 10/16/18 ADBT Inc., Dr. Kossi Sevon, 140 Piedmont Pointe Dr. Apt. 5 28115 10/16/18 Appulate Inc., Johnny Yarbrough, 127 Jennifer Way. 28115 10/16/18 Race City Web Design LLC, Heath Magsig, 137 Farmers Folly Dr. 28117 10/16/18 Red’s Scratch Made LLC, Derek Gregory Dahl, 159 Lugnut Ln. 28117 10/16/18 World Institute for Security Enhancement Inc., Stephen J. Komorek, 147 Gasoline Aly Ste. 106 28117 10/17/18 OZZ Ventures LLC, Greg Osborne, 116 Kilborne Rd. 28117 10/18/18 Grose Development LLC, Madalyn Grose, 287 Greenbay Rd. 28117 10/18/18 Lake Norman Getaways LLC, Renata Hawkins, 202 Shoreline Loop 28117 10/19/18 Heron Bay Homes LLC, Susan Halliday, 164 Hickory Hill Rd. 28117 10/19/18 JL Framing LLC, Juan Luis Ontiveros Amaya, 302 E. Lowrance Ave. 28115 10/19/18 JM Risk Management Inc., Jason
Meadows, 166 Riverchase Ln. 28115 10/19/18 Klean Cans LLC, Kale Uphoff, 164 Alexandria Dr. 28115 10/22/18 Integrity Home Buyers LLC, Robert M. Embrey Jr., 129 English Hills Dr. 28115 10/22/18 Wine from Barb LLC, Barbara A. Sapp, 104 Waterhouse Ct. 28117 11/1/18 3B Logistics Solutions LLC, Roberto Luciano, 104 Chinook Ln. 28117 11/1/18 Magnolia Cove LLC, Aaron Guess, 115 Jase Ct. 28117 11/1/18 Truex Management Group LLC, Anthony S. Mangini, 156 Cayuga Dr. 28117 11/1/18 Zander Creative LLC, Alexander Carney, 175 Creekwood Dr. 28117 11/2/18 Owl Services Corporation, Hermes Solano, 139 Trotter Ridge Dr. 28117 11/5/18 Julien Kitambala LLC, Julien Kitambala, 109 Burke Cir. 28115 11/6/18 1775 Catawba Valley LLC, Helmi M. Felfel, 425 Bay Harbour Rd. 28117 11/6/18 Efren Sanchez Martinez LLC, Efren Sanchez Martinez, 138 Linwood Rd. 28115 11/6/18 Wine with Rachel LLC, Rachel Hay, 120 Tall Oak Dr. 28117 11/7/18 Blue Dawg Logistics LLC, Don B. Roberts, 3310 N. Enochville Ave. 28115 11/7/18 On Edge Films LLC, Ernest Randolph Williams, 263 Grayland Rd. 28115 11/8/18 Simply Tailored Travel LLC, Stephanie McCarty, 296 Bayberry Creek Cir. 28117 11/9/18 Bannerwave LLC, Bradley Larson, 329 South San Agustin Dr. 28117 11/9/18 Horizon CSA Holdings LLC, Michael Marrow, 265 Pit Rd. 28115 11/9/18 Old Squaw LLC, Gordon S. Hecht, 187 Crystal Cir. 28117 11/9/18 Speedy Shades Inc., Samuel J. Burbach, 106 Langtree Village Dr. Ste. 301 28117 11/13/18 Condor LLC, William Joseph Ferlauto, 184 Quiet Cove Rd. 28117 11/13/18 Pro-Sport Basketball Management LLC, Rick Russell, 130 Infield Ct. 28117 11/13/18 Sanchez Accounting Services LLC, Amanda Sanchez Ospina, 100 Joseph Ln. 28115 11/13/18 Truitt LLC, Patrick Truitt, 224 Lineberger Dr. 28117 11/14/18 Chaotic Holdings LLC, Kevin Sullivan, 344 Kemp Rd. 28117 11/14/18 Gold Leaf Cigar Lounge LLC, Larry W. Payne, 105 Landing Dr. Ste. 101 28117 11/14/18 Integrity Financial Solutions LLC, Jerry L. Cloninger, 107 Wellesley Ln. 28115 11/14/18 The Studio for Skin LLC, Vanessa C. Nozet, 862 Brawley School Rd. Ste. 106 28117 11/15/18 Hotwiredtech Inc., Casey S. Yonemura, 108 Hedgewood Dr. 28115 11/16/18 Cottage Cove 126 LLC, Kathleen O. Hayes, 126 Cottage Grove Ln. 28117 11/16/18 FGIM Shelbyville Saraina GW LLC, R. Joseph Jackson, 108 Gateway Blvd. Ste. 104 28117
More Iredell New Corporations online at www.BusinessTodayNC.com
20 December 2018
Hot P roperties
What’s in store for real estate as super-heated year ends? BY DAVE YOCHUM As 2018 winds down, it looks like the historic sellers’ market is winding down with it. Resale home s are spending more time on the market a nd builders are offering more incentives to close new-home purchases. It will be a much more balanced market ahead, says Allen Tate CEO Pat Riley, especially in and around Charlotte, where in-migration looks like a neverending economic shot in the arm. “We’re seeing a return to normal price appreciation. There is a very strong sense that 2019 will be a pause year,” said Riley, head of the largest independent real estate company in the Carolinas. Normal is about 2.5 percent. “The winds have changed dramatically from a sellers market to a historic, balanced market. Sellers have had the advantage since the recession,” he added.
“The lesson is sellers will have to get used to not having multiple offers.” —Pat Riley, CEO Allen Tate Cos. Economists seem to agree that the national economy will remain strong in 2019, but not the same kind of bullybully growth generated by government stimulus. Strong economic growth brought higher interest rates, which combined with record-high home prices, are putting a damper on fourth-quarter sales, according to Wells Fargo economist
Charles Dougherty. Post-recession the appreciation rates have been in the 6 percent range in Charlotte, well above the historic 2.5 percent annual rate in before the recession, Riley said. He referred to markets like Seattle—where the one-year change in home prices was 13 percent earlier this year—as “bubble” markets. San
May your heart be filled with laughter Your soul with joy And your home with love this holiday season. Lisa Turley, Broker Associate 704-904-8051 LisaTurleyRealtor@yahoo.com
Francisco real estate prices were up 11 percent and Las Vegas 13 percent in April of this year. “It wasn’t sustainable. Buyers have said enough is enough,” Riley said. Charlotte is more the Steady Eddie market, with prices climbing at half the rate of some over-heated markets. Nevertheless, days on market are climbing “drastically,” Riley said. “Multiple offers are rarefied now,” he explained, although prime areas like the lake, Cotswold and Dilworth— “that’s different.” Buyers won’t necessarily have the upper hand, but they will be in a much stronger position than last year and the year before. “During the adjustment period, it means sellers aren’t really anxious to drop their prices but they are going to have to. Sellers are going to have to stop being so zealous,” Riley said. Riley knows his stuff. He is a former chair of Leading Real Estate Companies of the World, a Chicago-based association of more than 500 top brokerages in more than 70 countries, as well as immediate past chair of Charlotte Center City Partners. At Allen Tate company-wide, 2018 will end with 5-6 percent fewer units closed but volume will be higher. The company-wide average closed price is up $18,000 to $19,000 from 2017 levels. He said the real estate “food chain has gotten more out of whack” and a change to a “normalized” market is to be expected. There are a few factors that have
the market out of balance. “Millennials are slow to upgrade, Boomers are slow to downsize and builders are way behind,” Riley said. Inventory is still an issue partly because Baby Boomers are still sitting on their properties. First-time buyers are “way late to the dance,” Riley said, even though rents are at an all time high. “Millennials are already having babies and still getting ready for their first house or the second house.” Higher prices and mortgage rates
HOT PROPERTIES are leading to affordability issues, especially for first-time buyers. Meanwhile, prices for first-time buyers are well over $200,000. The affordable housing crisis no doubt exists, but DataUSA says Charlotte median household income grew 13.2 percent year over year to $61,017. Then, too, recent job growth in Charlotte is double that of the United States. It’s a case of inadequate supply and rising demand pushing prices higher—and driving new development
farther out. Riley forecasts more stacking of multi-unit residential buildings along the commuter rail line in Charlotte, a logical model for rail and development along the Norfolk Southern line from Charlotte into Huntersville, Cornelius, Davidson and Mooresville. “Working people have to get to their jobs,” Riley said, explaining that the $50 million Charlotte affordable housing bonds will begin to address the crisis.
He said the controversial new toll lanes on I-77 will “in my humble opinion” make Lake Norman a viable bedroom community once again. The incredible congestion on I-77 has made commuting virtually impossible, but the tolls “open up another window” for commuters. Retirees or those who well-paid executives who just need the airport are just a part of the home-buying market.
Price increases slow down
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22 December 2018 Boom continued from page 1
employment to go as low as 3 percent. Led by the surging information and business service sectors—Charlotte’s strong suit—as well as the construction industry, North Carolina employment continued to grow in 2018. The Charlotte metropolitan statistical area is adding jobs faster than the rest of North Carolina and faster than the nationwide rate. Charlotte’s diverse business base also provides stability. Dougherty said that manufacturing, often overlooked, is actually a vital part of Charlotte’s robust economy. “Even if there were a downturn, this city would be well-equipped,” Dougherty said. “Every industry is hiring.” Employment compensation is also rising, making labor more expensive, he said. But the boost in income has supported consumer spending, a key element in overall economic growth. “When wages are rising, that is a very positive indicator of where consumer spending will go,” Dougherty said. Since the 2008 recession, consumer spending has moved away from owned housing, food eaten at home
Charlotte is adding jobs faster than the rest of North Carolina and apparel toward areas such as entertainment, food away from home and rental housing. The housing sector was one “soft spot” in the economic outlook—but geography makes a big difference. Western real estate markets like Las Vegas, Seattle and San Francisco have seen between 8 and 13 percent annual growth in home prices. Charlotte saw
Employment growth in Charlotte has consistently outpaced both the state and the national average, which has helped to push down the unemployment rate to 3.6 percent.
Stronger employment and wage growth has boosted incomes and supported consumer spending.
With the unemployment rate continuing to trend lower, wage growth has picked up modestly but remains a missing piece to the recovery thus far.
Inﬂationary pressures have gradually increased. Shelter costs have also risen at a fast pace, however have moderated more recently.
Of the multiple factors that drive the U.S. economy, trade is often the least consequential.
Despite a robust pipeline of new ofﬁce and apartment construction, commercial vacancy rates have generally trended lower recently thanks to strong demand.
Source: Charles Dougherty, Wells Fargo economist
a more modest 5.2 percent year-overyear advance in home prices but still ranks in the top 20 of U. S. metropolitan areas for home price growth. The Southeast is especially hot right now because of its climate, its relatively low cost of living, and its friendly business environment. Higher housing costs in other regions have spurred movement toward cities with lower costs of living, Dougherty said. This has boosted Charlotte’s population growth to nearly 40,000 people a year. Looking ahead, demographics should favor a boost to the ownedhousing market in years to come as millennials reach their mid-30s. Consumers who do buy a home do so before age 38, said Dougherty. Representing 5 percent of GDP, housing “plays a huge role” in the economic outlook, Dougherty said, but he’s “very optimistic” about the housing market. Both new and existing home sales have been on an upward trajectory since 2011. Inventory still lags behind demand, though, which is good news for rentals and apartment construction. Mortgage rates as a percent of income have climbed from below 4 percent in 2012 to around 5 percent currently. Home buyers, especially first-time buyers, are facing affordability issues because of higher home prices and rising mortgage rates. Tariffs on lumber and steel have pushed up prices, but strong demand has caused building material prices to rise across the board, and a shortage
of skilled labor has contributed to further price increases. “Persistently lean inventories of single-family homes and deteriorating affordability are providing a second wind to the apartment market— stronger than most people have anticipated,” Dougherty said. Industrial properties are also one of the hottest areas of commercial real estate growth. With real estate price increases part of a larger trend, investors may be concerned about inflation, but economists say that prices are going up at a healthy rate. The Federal Reserve uses indicators like inflation and unemployment when setting monetary policy. Already, there have been three rate hikes this year and four more are expected by the end of 2019. Changes in federal tax laws have also spurred growth. The corporate tax rate was reduced from 35 percent to 21 percent, which Dougherty said “encourages businesses to spend more on themselves [and] become more productive.” Other tax code changes affecting business included a repeal of corporate alternative minimum tax, a cap of 30 percent of EBITDA on business interest expense deductions and immediate expensing of business capital investments. While Dougherty called tax reform a “net positive” for the economy, he downplayed the effect of trade policy. “Our exposure is limited because of consumer spending and other domestic factors,” he said.
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