The Littlejohn Group

ULI Transit Value Survey

littlejohngroup — Mon, 20 May 2013 13:53:10 +0000

ULI recently completed a national study on home values related to proximity to transit. The survey found that residential property values adjacent to public transit fared 42% than those located away from transit services.

The Littlejohn Group has completed surveys of TOD residents in Charlotte and found that even if they did not use light rail, it was a deciding factor in their residence choice and viewed to likely have a positive impact on appreciation. Developing projects in and around locations served by transit is going to be a strong business model for future growth given the positive impact on property values and as an increasing percentage of the population seeks to minimize their dependency on automobiles.

Link to ULI Article: http://urbanland.uli.org/Articles/2013/May/MooneyHomePrices?utm_source=uli&utm_medium=eblast&utm_campaign=051313

Charlotte’s Housing Shortage

littlejohngroup — Thu, 09 May 2013 14:05:02 +0000

In 2006, the housing market in Charlotte was booming, with 13,376 new housing units permitted to accomodate just under 9500 new households. By 2010, the number of permits had fallen off to 2672 while the county became home to just over 10,000 new households. In short, throughout the recession and despite unemployment, new residents were coming to Charlotte while the business of building housing stalled. Historic Permits and Household Growth is a PDF that illustrates these trends.

Currently there are strong opportunities for homebuilders and developers to develop multifamily and for sale housing targeted to all markets, from first time buyers to luxury. The demand is there, and the key to success is matching product, price and location. Contact us today to help plan your next community!

Inventory Issues in Charlotte

littlejohngroup — Fri, 19 Apr 2013 13:06:37 +0000

Emma Littlejohn recently spoke at the MAI Appraisal meeting and the key theme of the meeting was a lack of inventory homes in the housing market. Experts including Frank Warren of Kimley Horne and Catherine Pappas of Dickens Mitchener were all in agreement that the lack of inventory was heating up the housing market, driving up prices and making offers more competitive. All three agreed that the timing was right to begin presales for condominium projects, an indicator that consumers are confident that now is the time to buy.

Optimize the online experience for your customers

littlejohngroup — Wed, 17 Apr 2013 18:37:51 +0000

When your homebuyers and potential tenants end their work days, they are logging off of laptops and desktops and turning to mobile devices and tablets to access 0nline information, with over 25% of online searches now coming from non-PC devices. QR codes, user friendly apps and streamlined websites all can help create a better experience for your customers and lead to more home sales and signed leases.

The Littlejohn Group helped the Brightwalk community reach out to tech savvy buyers via a fresh ad campaign. Bright colored coasters with a QR code linked to the website have been distributed to the hippest bars in the Charlotte market, connecting potential new buyers to easily accessible information about the community.

For more information on using technology to market real estate, contact us at 704-377-2262.

Generation Y Values Homeownership

littlejohngroup — Thu, 07 Feb 2013 16:11:49 +0000

A new survey from Prudential Real Estate revealed that 77% of those age 25 to 34 consider homeownership to be very important with 74% viewing now as a great time to buy. The Littlejohn Group has studied the preferences of Generation Y buyers closely and understand what they are looking for in a for sale home or rental. Locationally, convenient, intown locations trump far flung suburbs with walkable or bikeable retail a valued amenity. For more information on this growing buyer group, give us a call at 704-377-2262.

Brightwalk in the News

littlejohngroup — Wed, 23 Jan 2013 14:43:26 +0000

Our Brightwalk community has been a great success. Standard Pacific is busy selling homes and the Charlotte Housing Partnership is continuing to work to grow new uses on the site. We are proud to be a part of this revitalization of Charlotte’s North End and look forward to continuing success at the community. The Charlotte Observer recently featured the community in an article:

CHarlotte Observer 1.17.13

Mountain Resorts

littlejohngroup — Tue, 08 Jan 2013 17:20:28 +0000

The Littlejohn Group recently completed a survey of mountain resort communities to assist with an appraisal and repositioning of a major community west of Asheville. The market for second homes is slowly returning, but with plenty of changes from both consumers and developers. Developers are putting less dollars into extravagant marketing packages and relying more on responsive agents and on-site visits to sell their communities. For consumers, while views and amenities still remain important, practical questions such as funding of HOA and clubs being solid, developer backing and completion of infrastructure are as critical. The top performing communities are convenient to Asheville, have stable development teams and have realistic lot prices and membership fees. Lot/Home packages and inventory homes are also big draws, reducing the time and effort that goes into a custom home.

2013 will likely bring a continued increase in sales, stable pricing and more communities reemerging after bankruptcy with repositioned pricing and product. If you would like more information on this dynamic market, contact our office at 704-377-2262.

Light Rail Attracts Multifamily

littlejohngroup — Wed, 05 Dec 2012 13:34:37 +0000

Over 10,000 new multifamily units are planned and proposed for the Charlotte region with over 4500 under construction. One of the hottest areas for new multifamily is the South End along the light rail line, mirroring the national trend for Generation Y to elect to live in transit friendly areas. These new complexes are pulling in some of the markets highest rental rates and leasing up rapidly. The Littlejohn Group can help you develop your next multifamily project, with experience throughout the Southeast on a diversity of projects including: adaptive reuse, senior focused, luxury, affordable and rental communities with a mix of uses.

The Observer reported on two new projects underway- we look forward to meeting our new neighbors:

http://www.charlotteobserver.com/2012/12/05/3706109/2-more-apartment-buildings-coming.html

Market Recovery Continues

littlejohngroup — Tue, 27 Nov 2012 15:05:51 +0000

The Littlejohn Group has seen an increase in interest for townhome pads and product in the Charlotte market. This trend is also reflected nationally, with three quarters of continued growth in quantity and market share, as reflected in this link: http://eyeonhousing.wordpress.com/2012/11/26/townhouse-starts-and-market-share-grow-during-third-quarter/ Townhome product is ideal for “in town” locations and the maintenance free aspect to ownership is appealing to busy young professionals who may be seeking more space than a stacked flat condominium offers. There are opportunities for fresh design and updating of plans to help appeal to this growing market. Contact The Littlejohn Group to learn more about how we can help better design your townhome plans to capture new markets.

In the News!

littlejohngroup — Mon, 19 Nov 2012 15:10:28 +0000

Emma was recently quoted in a Charlotte Observer article on Charlotte’s improving residential market. We are seeing a growth in home sales, home prices, lot sales and lot pricing. Additionally, we are seeing new movement in the development of new land. Location is the key to success as opportunities to purchase homes in popular areas are quickly diminishing. Charlotte Article