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Welcome to the Scot Williams Realty blog.
Over the last several months we have started to note our sense that the Charlotte market had bottomed and was beginning to change course. The information provided here in, compiled from Carolina Multiple Listing Servivces, Inc. and the National Association of Realtors, give credence to those notes. The local market is on the mend and the recovery is starting. If you have been waiting, now is the time to buy.
2011 vs. 2010
New Listings -19.1% 72,362
Pending Sales +3.3% 38,667
Closed Sales +2.5% 40,276
Median Sales Price -1.6% $152,500
Average sales Price -3.5% $200,351
List to Close (days) +5.4% 152
Months’ Supply -27% 9.1
Pct. of Original price -0.6% 89.4%
Inventory of Homes -24.6% 17,581
Reported by the National Association of Realtors
(From Moody’s Analytics)
Existing home sales are expected to rise 12% in 2012
New home sales will soar 74%
New home starts will increase 37%
(From Fannie Mae’s December Housing Survey)
With mortgage rates at historic lows and housing affordability high, 71% of Americans say that now is a good time to buy, and an increasing number expect prices to rise in 2012.
Looking at these numbers, we only take pause in the increase in list to close of 152 days. Much of that period has be attributed to the deep ression that lingers, but some is thanks to an “uncomfortable” lending enviroment in which confusing credit demands and new regulation and/or enforcement has slowed funding.
Prepared for funding challenges, 2012 can be a great time to buy!

December 2011
Welcome to the Scot Williams Realty blog. We hope you will find us informative and at times fun. We look forward to hearing from you.
Residential energy use causes 21% of Greenhouse emissions, more than that blamed on cars. Concern about the quality of our future has brought focus on Green building in North Carolina and across the country. This blog is not intended to initiate debate, but to bring clarity to an important focus in construction. Last month we wrote of some easy updates for existing homes, the focus here are construction ideas that with a little green, can make you some Green.
Green homes can be identified/ certified by four methods with many similarities:
Energy Star Homes (EPA guidelines with third party verification)
NC Healthybuilt Homes ( an inclusive laundry list of items that a builder gets awarded points for completing from site management to material us )
Leed for Homes (design and efficency list)
National Green Building Standards for Homes
These are different certifications but have a common goal of making homes 20 to 30% more efficient and lowering their impact on the enviroment.
Borrowing from each of these programs, here are some practical ideas that can be easily implemented in new construction but can also add efficiency to existing homes:
Energy Efficiency
Effective insulation- Spray polyurethane Foam (SPF) is a very effective product because it fill holes made for wiring and plumbing, fills holes often missed in caulking, and it doesn’t compress as found in areas of traditional insulation. SPF is best used in new construction because the vapors given off by the foam can be toxic. In new constuction those vapors have time to disipate.
High preformance windows- windows are rated as Energy Star just like appliances.
Tight construction and ducts- HVAC ducts can be taped to prevent leakage particularly around boots. There are also whole house wrap products like Tyvac that can help lower energy loss.
Efficent heating, cooling, and heating of hotwater- Heating water accounts for approximately 15% of a homes energy use. Tank-less hot water heaters are heater’s that only heat water as it is needed, instead of all the time as with a traditional (tank ) heater. Heating 20 to 80 gallons of water constantly produces standby energy losses. It is estimated that tank-less systems produce 45% to 60% saving vs. minimum standard equipment.
High efficiency HVAC systems should also be part of any new construction or renovation plan. Most HVAC contractors use computer modeling to effectively map the most efficent size and seer for a residence.
Energy Star appliances- Appliances are responsible for 20% of the energy use in a typical home, so improvement here can produce dramatic savings.
Use of CFLs in lighting generates 75% less heat when lighting a home plus they last up to ten times longer than a traditional light bulb.
Use of renewable building products should also be a key consideration. Wood products like bamboo and pine are classified as renewable and thus enviromentally sound to use. Some builders are also using recycled products and/or those salvaged during demolition or renovation. Old mantles, savaged marble, old oak doors, and wood floors are all being reused.
Water Efficiency
Water efficient plumbing fixtures- Many new plumbing fixtures offer efficient flushing systems and water flow inhibiters. Toto offers some cool products for the bath, and if you want to take it up a notch, rain water collection systems can be used in irrigation.
Just as a point of interest, typical hot water usuage in a home:
Shower 37%
Clothes washer 26%
Dishwasher 14%
Bath 12%
Sinks 11%
Learn more at energystar.gov

Welcome to the Scot Williams Realty blog. Hopefully you will find us informative, helpful, and at times fun. We look forward to hearing from you.
These do it yourself tips can produce cost savings imediately, and will make you a greener neighbor, with nothing more than a weekend trip to the local hardware store.
1. Reclaim the heat that is flowing from your furnace into your attic and basement/ crawlspace instead of your living room! Buy Mastic and metallictape along with a cheap paint brush. Find areas of exposed ductwork in your attic and basement, then turn on your furnace and notice all the holes and leaks at joints where heated air is escaping. Pull back the insulation around the boots, where ductwork meets the vents and tape around the metal box to seal. Tape all holes and joints in the ducts, then apply Mastic on top with a paint brush. This will increase the heat entering your living space. Cost: about $20
2. Pull Down Attic Stairs: Huge loss of heat thru the cracks around the pull down stairs. Purchase a sealable cover (online best bet) about $200, but the cover reduces the chimney effect of hot air being drawn up into your cold attic space.
3. Wood burning fireplaces: They are pretty but HUGE heat suckers! When the fireplace is not in use, place a piece of Plexiglas in front of the opening to eliminate the heat loss during off hours.
4. Hot Water Heaters: Wrap them up! Water heating consumes 15% of the electricity and 25% of the natural gas in residences annual usage. Insulating the heater with a thermal wrap will reduce the heat lost while the water is hot and sitting in the tank awaiting use. The amount of heat lost in standby can be 20-60% of the energy it took to heat that water and keep it hot. So buy the appropriate insulation and apply it carefully.
5. Water saving shower heads: Once installed they will reduce heat needed to heat the water plus will have water saving benefits. Easy to buy, easy to install.
6. TURN OFF LIGHTS WHEN LEAVING THE ROOM: significant savings when electricity is used only when in a room. Family members can take a long time to retrain, but it can be done.
7. Replace the old light bulbs with CFL’s. They do not loss heat like traditional bulbs and they last 10 X longer. They now offer varied color ratings like the old light bulbs.
These are just a few things that can make a difference in your pocketbook and help the enviroment at the same time. It just takes a weekend and some friends to help!
Contributing writer Nan Williams
Planning a renovation or new contstruction, next month we will offer some sexier but pratical ideas that can be implemented to make us Greener.

welcome to the Scot Williams Realty blog. hopefully you will find us informative, helpful, and maybe at time fun. We look forward to your comments.
August Update
Sales are improving, and supply and demand factors are pointing to a recovering market!
Quick Facts
From the National Association of Realtors August report
Sales of all existing homes rose 7.7% in August vs July and posted 18.6% gains from August 2010*. In the South, sales were up 16.9% year to year.
From the Charlotte Regional Realtor Association
Locally, week after week we continue to see increased pending sales, decreased listings, and decreasing inventory levels:
For the week ending 9/3 Change in new listings -20.5%
Change in pending sales +8.8%
Change in inventory -22%
For the week ending 9/10 Change in new listings -18.5%
Change in pending sales +18.3%
Change in inventory -22.3%
Though home prices react to more than supply and demand, once job growth begins and consumer confidence levels improve, Charlotte home prices should soar.
Don’t wait to read it in the press. The time to buy is NOW.
*based on transactions closed

Welcome to the Scot Williams Realty blog. hopefully you will find us imformative, helpful, and maybe at times fun. We look forward to your comments.
As I’m sure you are all well aware the real estate market remains unsettled. The good news is that numbers posted in July in the Charlotte Region seem to continue to signal improvement. New Listiings are down 27.1% in July vs. July 2010, 20.2% year to date; and that trend has continued in both the week ending 7/30 and that ending 8/6/11. Pending sales increased 20.5% in the week ending 7/30, and closed sales in July incresed 9.7%. This combination of trends has reduced available inventory 20.4% to 22,009 homes. We are not out of the woods yet, average sales price was down 1.5% in July year to year; and average days on the market of 150 is still high historically matching its average over the last twelve months.
Select Area Results for July 2011 (From research provided by The Charlotte Regional Realtor Association)
Area 04 (includes Eastover and Cotswold)
New Listings in July -37.9%, year to date -25%
Closed sales in July +3.5%, year to date +5.8%
Average price in July -13%, year to date less than 1% change
Area 05 (includes Myers Park and Southpark )
New listings in July -25.5%, year to date -18.1%
Closed sales in July +12.9%, year to date less than 1% change
Average price in July -1.7%, year to date -1.9%
Area 06 ( Dilworth)
New listings in July -27.5%, year to date -21.6%
Closed sales in July +34.4%, year to date +11.5%
Average price in July +15.8%, year to date +3.5%
Area 99 (Center City)
New Listings in July -11.1%, year to date -36.7%
Closed sales in July +15.4%, year to date +12.2%
Houses are selling at more affordable prices, and as this trend continues, inventory will evaporate and you will see a revival in construction and with it all the secondary supply chains that the local economy depends on. Forget the voatility in Washington and the stock and comodity markets, NOW seems to be the time to buy.
Look for our story on Green technology for residential construction after the August update.