Charlotte Real Estate Investors Are Cutting Their Losses At The 4th Highest Rate In The Nation

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Charlotte Real Estate Investors Are Cutting Their Losses At The 4th Highest Rate In The Nation

A new report from Redfin reveals that Charlotte real estate investors have been losing more money than in most other major cities.

According to the report, about 13.5% of U.S. homes sold by investors in July were sold for less than the investor initially purchased it for. This is comparable to June’s rate of 14.5%, which was the highest it had been since 2016. What’s more, this percentage is nearly triple the share from a year earlier and is a significant increase from May’s record low of 2.8%.

Redfin’s analysis included 40 of the most populous U.S. metropolitan areas and defined “investor” as any institution or business that purchases residential real estate, including both large companies and mom-and-pop investors. These findings shed light on the current state of the U.S. housing market and suggest potential shifts in the real estate investment landscape.

The report found that Charlotte investors saw the 4th highest share of homes sold at a loss in the nation at 17.4% overall.

Metro-Level Summary: Investor Housing Market Activity

This table includes 40 of the 50 most populous U.S. metropolitan areas—those for which there was sufficient data.

Metro Area Share of Homes Sold at a Loss Median Capital Gain (%) Median Capital Gain ($) Median Sale Price Median Sale Price (YoY Change)
Anaheim, CA 8.4% 39.1% $323,250 $1,150,000 -1.3%
Atlanta, GA 14.5% 44.7% $98,000 $317,000 -6.5%
Baltimore, MD 5.5% 87.1% $138,750 $298,000 24.2%
Charlotte, NC 17.4% 55.5% $117,000 $328,000 -2.7%
Chicago, IL 10.8% 58.6% $112,750 $305,000 -1.6%
Cincinnati, OH 3.7% 121.8% $124,250 $226,250 3.5%
Cleveland, OH 15.3% 77.3% $69,750 $160,000 4.2%
Columbus, OH 3.0% 92.3% $120,000 $250,000 -3.3%
Denver, CO 11.2% 42.9% $162,000 $540,000 -7.7%
Detroit, MI 16.2% 83.2% $62,215 $137,000 -2.1%
Fort Lauderdale, FL 2.5% 74.5% $182,450 $427,450 6.9%
Jacksonville, FL 20.9% 34.9% $77,450 $299,450 -2.8%
Las Vegas, NV 28.0% 24.2% $75,900 $390,000 -8.2%
Los Angeles, CA 8.3% 32.8% $236,500 $957,500 -1.8%
Miami, FL 2.5% 75.0% $224,900 $524,900 9.4%
Milwaukee, WI 3.4% 86.8% $116,200 $250,000 13.4%
Minneapolis, MN 10.5% 48.4% $106,000 $325,000 2.6%
Montgomery County, PA 3.5% 78.2% $179,950 $409,950 3.8%
Nashville, TN 16.4% 36.2% $107,123 $403,400 4.4%
Nassau County, NY 4.3% 74.3% $277,000 $650,000 5.7%
New Brunswick, NJ 4.7% 84.6% $210,750 $460,000 7.6%
New York, NY 11.3% 74.8% $329,000 $769,000 -10.6%
Newark, NJ 5.5% 104.3% $245,000 $480,000 3.2%
Oakland, CA 14.5% 40.0% $260,000 $910,000 -13.3%
Orlando, FL 12.2% 41.0% $104,535 $359,435 2.2%
Philadelphia, PA 7.3% 102.9% $142,000 $280,000 16.7%
Phoenix, AZ 30.7% 19.1% $65,650 $410,000 -9.1%
Portland, OR 15.4% 56.2% $185,500 $515,500 -5.0%
Providence, RI 4.7% 63.2% $151,750 $391,750 5.1%
Riverside, CA 12.2% 38.1% $152,500 $552,500 -3.1%
Sacramento, CA 20.2% 27.3% $109,250 $509,500 -13.6%
San Diego, CA 11.4% 47.1% $306,000 $956,000 6.2%
San Francisco, CA 13.0% 30.7% $417,000 $1,775,000 -30.0%
San Jose, CA 9.7% 32.0% $370,000 $1,525,000 -13.4%
Seattle, WA 14.4% 55.9% $297,500 $830,000 -7.8%
Tampa, FL 13.1% 55.5% $124,950 $349,950 -0.6%
Virginia Beach, VA 1.7% 107.1% $150,000 $290,000 12.0%
Warren, MI 2.6% 114.5% $114,250 $214,000 -11.0%
Washington, D.C. 5.6% 46.1% $161,001 $510,000 -3.8%
West Palm Beach, FL 2.4% 73.1% $190,100 $450,000 2.2%
National—U.S.A. 13.5% 45.9% $145,714 $463,505 -4.8%

North Carolina Ranked The 3rd Highest States With The Most Medical Debt

Steve
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North Carolina Ranked The 3rd Highest States With The Most Medical Debt

Medical debt is a huge financial burden that affects millions of Americans, with some states experiencing higher rates than others.

New research has revealed the states with the highest percentage of citizens with medical debt, with North Carolina ranking third.

Attorney’s at Whitley Law Firm analyzed the number of people in each state with medical debt as a percentage of the population to determine the states where it is most common.

The states with the highest percentage of citizens with medical debt :

Rank State % of citizens with medical debt
1 South Dakota 17.66
2 Mississippi 15.23
3 North Carolina 13.41
4 West Virginia 13.26
5 Georgia 12.74
6 Vermont 12.23
7 Tennessee 12.03
8 Indiana 11.99
9 Kentucky 11.97
10 South Carolina 11.70

Man Pleads Guilty In Charlotte Court For Conspiring To Steal 3,000 Cows

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Man Pleads Guilty In Charlotte Court For Conspiring To Steal 3,000 Cows

25-year-old William Dalton Edwards has just pled guilty in a Charlotte federal court to conspiring to use bad checks to steal 3,000 cattle.

From April 2018 to October 2022, Edwards conspired with another individual to defraud sales barns in Iredell and Cleveland Counties, as well as in Texas, Oklahoma, and Virginia, according to a press release from the US Attorney’s Office. Court documents reveal that Edwards and his co-conspirator purchased cattle using worthless checks, knowing there were insufficient funds to cover the payments.

Edwards and his co-conspirator arranged to transport the cattle out-of-state before the sales barns and financial institutions discovered the bad checks. They then resold the stolen cattle in Texas and Oklahoma. This scheme resulted in the fraudulent acquisition of over 3,000 cattle and caused more than $1 million in losses to sales barns, particularly impacting family-owned businesses in North Carolina.

Edwards pled guilty to conspiring to defraud the United States and violating federal laws. The conspiracy aimed to impede the Packers and Stockyard Division of the U.S. Department of Agriculture, obtain funds through false statements, and transport stolen livestock across state lines.

Edwards has just been released on bond and could face up to 5 years in prison when he returns for sentencing.

Tornado Warnings and Watches Issued For North Carolina As Debby Approaches

Steve
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Tornado Warnings and Watches Issued For North Carolina As Debby Approaches

This morning, North Carolina faces multiple watches and warnings as Tropical Storm Debby approaches. As of 8 a.m. Tuesday, Debby is churning over Georgia, moving northeast at about 6 mph, located 20 miles southwest of Savannah and about 105 miles southwest of Charleston.

Tornado and Storm Surge Warnings

Several tornado warnings and watches are now in effect for Southeastern North Carolina until 5 p.m. Tuesday.

The National Weather Service has also issued a tropical storm watch up to Surf City and a storm surge watch for the coast of Brunswick County. These warnings highlight the significant risks of flash flooding and dangerous storm conditions.

Debby’s Path and Impact

Debby made landfall near Steinhatchee, Florida, on Monday with sustained winds of 80 mph. The storm is expected to move offshore near Georgia’s coast later today, drift there through early Thursday, and then move inland over South Carolina.

Here in the Charlotte area, we could see upwards of 6″ of rain over the next couple of days, causing widespread flash flooding across our region.

NHS officials are reminding all residents in Atlantic Coast states to be prepared for potential future storms.

In case of a power outage, make sure to have the following emergency items stocked in your home;

City of Belmont Mourns the Passing of Mayor Richard Turner

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City of Belmont Mourns the Passing of Mayor Richard Turner

With deepest sympathies, the City of Belmont regrets to announce the passing of Mayor  Richard Turner, a dedicated public servant who faithfully served the Belmont community for more than twelve  years, as both a Councilman and Mayor.

Mayor Turner passed away unexpectedly on July 31, 2024, leaving behind a legacy of commitment and passion for the city he cherished.

There will be a funeral procession for Mayor Turner today at noon:

Throughout his tenure, Mayor Turner worked tirelessly to make Belmont an ideal place to live, work, and raise  a family. His unwavering dedication was evident in his constant presence at civic events, where he listened  attentively to the concerns of the community and addressed them with respect, care, and diligence. Mayor  Turner understood the profound impact local government can have on its citizens and devoted himself to  delivering the highest quality service to the community of Belmont.

The entire Belmont City Council, including Mayor Pro Tem Jim Hefferan, Charlie Hill, Kathryn Lewis, Jason  Rumfelt, and Alex Szucs, extends their sincere condolences to Mayor Turner’s wife, Marie, and his three  children during this difficult time. The Council is profoundly grateful to the Turner family for sharing Mayor  Turner with the city, allowing him to dedicate his time and energy to the betterment of Belmont.

“Mayor Turner’s sudden passing has deeply shocked and saddened us all,” expressed Mayor Pro Tem Jim Hefferan. “His love for Belmont and its residents was unwavering, as was his dedication to public service. Since first being elected to the City Council in 2013, he served in numerous roles, including Mayor Pro Tem and finally as Mayor in 2023. Mayor Turner was not only a colleague but a dear friend. His passing is a  tremendous loss for our city, and our prayers and condolences go out to Marie and the entire Turner family.” 

Under Mayor Turner’s leadership, Belmont achieved significant advancements, including improvements to  Kevin Loftin Riverfront Park, Ebb Gantt Park, and various other city parks. He additionally coordinated the construction of a new police station, CityWorks facility, and CityRec facility, as well as notable progress in transportation and sustainable growth. His vision and leadership have left an indelible mark on the community  he loved so dearly.

The City of Belmont honors Mayor Richard Turner for his remarkable service and dedication to the community. Funeral arrangements are being made by the family, and further details will be shared as they become available. The City of Belmont extends its heartfelt condolences to all who knew and loved Mayor  Turner during this time of great loss.

Application Period Begins For Charlotte’s $5 Million Beyond Open Small Business Grants

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Application Period Begins For Charlotte’s $5 Million Beyond Open Small Business Grants

Today, Foundation For The Carolinas announces the opening of Beyond Open grant applications for the third round of the program. Now through August 30, small business owners can apply for Beyond Open grant funding to purchase capital assets including equipment, technology, real estate and inventory. Beyond Open grants cannot be used for operating expenses such as payroll, advertising/marketing, professional services, maintenance costs, insurance, utilities, debt repayment and investment properties.

Beyond Open is a $20M grant program funded by Wells Fargo’s Open For Business Fund. In this third round of funding, Beyond Open will award up to $5 million to grantees in amounts from $10,000–$150,000. Over two previous rounds, $10.7M in grant awards were distributed to nearly 300 small business owners and select nonprofits in Charlotte.

Program grantees include diverse (minority, woman, veteran, LGBTQ, persons with disabilities) small business owners within the Corridors of Opportunity as identified by the City of Charlotte. Businesses must be physically located within one of the Corridors to be eligible to receive an award in Round 3. A full list of eligibility requirements can be found here.

Beyond Open is a very competitive program. Interested applicants are strongly encouraged to learn more and prepare the strongest applications possible. Application support is available at beyondopenclt.com, including eligibility requirements, criteria for review, the Round 3 Application Guide, recorded information sessions, contact information for application support, FAQs, and guidance for key application questions. Three small business support organizations are available to provide technical assistance. These organizations include ASPIRE Community Capital, Prospera North Carolina and Women’s Business Center of Charlotte.

Tropical Storm Debby Is About To Dump Enormous Amounts of Rain On The Carolinas

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Tropical Storm Debby Is About To Dump Enormous Amounts of Rain On The Carolinas

Residents of the Carolinas should prepare for potential impacts from Tropical Storm Debby in the coming days. This storm, the fourth of the 2024 Atlantic hurricane season, is expected to make landfall in northwest Florida on Monday as a Category 1 hurricane.

Expected Path and Impacts

Debby is projected to slow its forward movement Monday night as it moves inland across Florida and Southern Georgia. Widespread flash flooding is highly likely across Southern Georgia and the Carolinas into Monday night and Tuesday.

With a high-pressure system to the west and a cold front to the north, Debby is expected to make landfall in Florida’s Big Bend early Monday. As it moves across the state, it will approach the Georgia and Carolina coastlines. The combination of blocking fronts and distant high-pressure systems could cause Debby to stall out in the region.

Coastal and Inland Effects

Coastal areas in the Carolinas will experience the highest impacts from Debby, including heavy rain, dangerous beach conditions, tropical-storm-force winds, and storm surge. Inland areas, including the Charlotte metro, will also see increased cloud cover and rain bands starting Tuesday afternoon.

Over the next week, inland communities near Charlotte could receive between two and four inches of rain, with higher totals of up to six inches southeast of the metro area. Coastal regions like Savannah, Charleston, Myrtle Beach, Wilmington, and the Outer Banks could see significant rainfall, ranging from seven to over a foot of rain.

NHS officials are reminding all residents in Atlantic Coast states to be prepared for potential future storms.

In case of a power outage, make sure to have the following emergency items stocked in your home;

Fink’s Jewelers Opens Charlotte’s First ‘Tudor Boutique’ in SouthPark

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Fink’s Jewelers Opens Charlotte’s First ‘Tudor Boutique’ in SouthPark

Family-owned Fink’s Jewelers proudly announces the opening of a new TUDOR Boutique at SouthPark Mall in Charlotte, NC. This new exclusively TUDOR boutique reflects TUDOR’s signature red, black, and white aesthetic and showcases the brand’s true Born to Dare spirit through engaging displays and modern classic collections. The modern industrial design of the boutique offers a refined backdrop highlighting the meticulously crafted displays of TUDOR watches.

“The SouthPark Mall store is the first TUDOR Boutique in North Carolina and one of nine in the United States,” said Matthew Fink, President and 4th-generation owner. “Since 1976, we’ve been a part of the Charlotte community, and we’re excited to bring this new boutique experience to better serve our customers.”

Visitors will be invited to engage and learn about the intricacies of TUDOR watches at the exclusive experience table, where they can explore the fabrication process of the Black Bay Bronze. In-store imagery throughout the space displays brand ambassadors, and diver Bob, sporting the latest TUDOR timepiece designs, creating a captivating environment for guests.

The TUDOR boutique showcases an evolving selection of contemporary classics, from the Black Bay and Pelagos to the Ranger and Royal, the watches captivate those with a passion for precision and style. The boutique also features an extensive selection of novelties from the Watches and Wonders in Geneva, ensuring that customers have access to the latest and most exclusive TUDOR timepieces.

The new TUDOR Boutique at SouthPark Mall is now open seven days a week, welcoming guests from 11am to 8pm on Mondays to Saturdays, and 12pm to 6pm on Sundays.

ABOUT FINK’S JEWELERS

One of America’s “Top 50” jewelers, Fink’s Jewelers has ten locations throughout Tennessee, Virginia, and North Carolina. Since 1930, Fink’s has been family-owned; now owned and operated by the third and fourth generations. For more information, visit www.finks.com or find us on Facebook and Instagram.

THE TUDOR BOUTIQUE CONCEPT

To establish further the brand’s distinctive image and make it even more easily identifiable, TUDOR has reimagined the architecture and design of its points of sale. The concept has been developed to place TUDOR watches as the main focus of attention and express the character and identity of the brand.

This new identity is closely tied to current visual communications, reinterpreting the graphic principles within the retail environment. The TUDOR ambassadors are strongly featured and set the tone, making the space their own. Their achievements accompany the visitors’ experience. On a more technical level, the color palette is inspired by the brand’s three iconic colors (black, red, white) and is presented in a range of materials. These materials are used in a clean, streamlined, uncompromising manner. Satin-finish or brushed black, transparent red and structured white: the colors become textures. This new concept allows the visitor to be entirely immersed in the world of Tudor.

Charlotte’s 10 Worst Restaurant Health Scores in July 2024

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Charlotte’s 10 Worst Restaurant Health Scores in July 2024

As Charlotte’s restaurant selection continues to grow, many establishments are scrambling to attract customers and really letting their health standards slide in the process.

Some of the most common reasons for low scores were food handlers not washing their hands properly, contaminated food containers, and improper food temperatures (many restaurants are starting to use infrared thermometers to avoid this).

These were the worst inspection scores in Charlotte for July 2024;

#10 Brueggers Bagel Bakery

7828 REA RD, CHARLOTTE NC 28277
Scored 88 (B) on 7/15/2024

They had the following violations;

  • Observed PIC with several priority violations and unsure of cold holding requirements.
  • Observed several spray bottles of various cleaners being stored in hand sink in back prep area.
  • Observed raw salmon being stored in prep flip top cooler behind ready to eat food items.
  • Observed concentration level of approx. 150ppm of quat sanitizer in 3 compartment sink and sanitizer bucket at make line.
  • Observed eggs hot holding in hot hold unit at prep counter below 135F.
  • Observed containers of shredded cheese being held in prep reach in cooler and several items being held in both prep top and reach in portions of another reach in cooler all above 41F.
  • Observed an open package of pre-cooked sausage being held in WIC without a date mark.

#9 123 Main Mexico 

123 MAIN ST, PINEVILLE NC 28134
Scored 88 (B) on 7/29/2024

They had the following violations;

  • Observed PIC failure to ensure proper food, safety for cold, holding, hot holding, proper cooling and proper date marking.
  • EHS entered facility to observe staff eating employee meal in the kitchen at their food preparation stations.
  • Observed true raw ceviche stored in top of prep unit. Prep unit top is not sealed, and raw fish was stored above ready to eat food below.
  • Observed freshly made sanitizer in the three compartment sink at 100 ppm however, dish machine was not sanitizing properly, only 10 ppm chlorine.
  • Observed rice hot holding in 133° and beans hot holding at 119.
  • Observed all temperatures in walk-in cooler to be between 45 and 47°F.
  • observed no date marking for any of the TCS prepared foods in the tops of multiple prep units CDIPIC had staff member put correct dates on.
  • Observed clear solution and spray bottle stored above prep sink on labeled bottle open to smell.

#8 Popeyes

11318 N COMMUNITY HOUSE RD, CHARLOTTE NC 28277
Scored 88 (B) on 7/25/2024 

They had the following violations;

  • Observed several food code violations at the facility. (hot holding, hand washing, cleaning frequency, among other violations.
  • Observed employee work with raw chicken then go to complete other tasks, at several different times.
  • Observed employee wash hands without soap.
  • Observed no soap at handwashing sink.
  • Observed knife heavily soiled, stored cleaned on the knife rack.
  • Observed soiled dishes stored clean in the clean dish storage rack.
  • Observed potatoes holding below 135F.
  • Observed several slaws labeled Q in the low reach in cooler in the very back.

#7 El Carbonero 

4400 CENTRAL AV, CHARLOTTE NC 28205
Scored 87.5 (B) on 7/19/2024 

They had the following violations;

  • Observed several food safety violations pertaining to cold holding, cooling methods, hand washing, storage order and cross contamination.
  • Observed no CFPM on site.
  • Observed employee touch raw meat, then go to the front line to contact clean surfaces of equipment/ utensils.
  • Observed raw beef stored over plaintains and raw shrimp stored over cooked chicken in the tall reach in.
  • Observed raw eggs stored over beans in the walk in cooler. Observed steak and shrimp stored over an opened container of plaintains.
  • Observed employee washing his gloves used for raw meat in the sink.
  • Observed soiled pan washed without being soaked in sanitizer.
  • Observed cabbage in prep top 1 holding above 41F.
  • Observed salad, tomatoes and lettuce in prep top 2 holding above 41F.
  • Observed raw chicken, beef, pork and churizo in prep top 3 holding above 41F.
  • Observed raw chicken and shrimp in low reach in 3 holding above 41F.
  • Observed chicken in the tall reach in holding above 41F.
  • Observed several gnats and flies in the kitchen area.

#6 Tap and Vine

7828 REA RD, CHARLOTTE NC 28277
Scored 87 (B) on 7/1/2024 (rescored to 93.5 on 7/12/24)

They had the following violations;

  • Observed raw mahi stored over ready to eat sauces in reach in cooler.
  • Observed raw tuna stored over ready to eat items in reach in cooler.
  • Observed mashed potatoes below 135F that employee stated he reheated to 141F 2 hours prior.
  • Observed buffalo chicken dip reheating in steam table with 30 min left still at 116F. First temperature after reheating for 1 hour was 85F.
  • Observed double boiler with au jus and beef broth stored on grill below 135F.
  • Observed one ice machine plastic door cracked.
  • Observed appetizer cooler is not maintaining 41F and below even after being repaired.

#5 Irie Nation 

440 EAST MCCULOUGH DR., CONCORD, NC 28262
Scored 86.5 (B) on 7/15/2024

They had the following violations;

  • No one at facility has taken or passed an ANSI accredited test.
  • Jerk chicken at steam table was below 135 F. Chef stated that it was cooked this morning.
  • Observed curry chicken, oxtails, Mac and cheese, beans, rice and peas, jerk chicken, and raw chicken stored in walk-in cooler above 41 F. Items were placed in walk-in cooler last night according to chef.
  • Observed food from yesterday that was stored in walk-in cooler and glass-door ice cooler (not approved) that was not dated.
  • Observed bags of cabbage and onions that were stored on the floor in walk-in cooler.

#4 Mezeh Mediterranean Grill

4920 OLD SARDIS RD, CHARLOTTE NC 28211
Scored 86 (B) on 7/3/2024

They had the following violations;

  • Observed PIC unable to answer questions on proper reheating procedures and had several Priority violations during inspection today in which PIC could not display knowledge on corrective action.
  • A Certified Food Protection Manager was not onsite during inspection.
  • Observed empty hand soap dispenser at hand sink next to PIC desk.
  • Observed a container of spicy lamb kefta being reheated in hot box for over 2 hours.
  • Observed a container of falafel being held at 122F on serving line and 3 containers of rice being held at 90F and a container of chicken being held at 110F in hot box.
  • Observed individually portioned to go containers of tziki sauce being held at 67F on serving line and all TCS foods being held above 41F in WIC.
  • Observed a container of tabouleh being held in 3 door prep reach in cooler at prep line missing a date mark.
  • Observed a container of baba ganoush being held in 3 door prep reach in cooler date marked 6/27, one day past its expiration.
  • Observed all items being held on TPHC on serving line without a time marked to indicate when the 4 hour period has elapsed.
  • Observed a spray bottle of sanitizer being held at front counter with no label.

#3 Red Lobster 

9415 PINEVILLE-MATTHEWS RD, CHARLOTTE NC 28134
Scored 86 (B) on 7/17/2024

They had the following violations;

  • Observed employees touch face and reach in pocket hand handle personal items then proceed to handle clean equipment but not wash hands before handling clean equipment.
  • Observed opened containers of raw fish stored over RTE hushpuppy mix in open containers in freezer.
  • Observed black soil residue accumulating on internal baffle of ice machine.
  • Observed several plates, utensils and can opener stored as clean but soiled.
  • Observed lobster cooked to 138 degrees F.
  • Observed cut tomato recently prepared according to PIC cooling at 52 degrees F at 12:13 in deep covered container.
  • Observed mashed potato hot held at 122 degrees F and marinara sauce at 119 degrees F.
  • Observed lettuce cold held at 46 degrees, Cole slaw at 43 degrees F and pasta at 44 degrees F cold held in produce walk in cooler.
  • Observed cheese cold held at 50 degrees F and sour cream cold held at 49 degrees F and tomato cold held at 52 degrees F on serving line.
  • Observed pasteurized crab meat not date marked.

#2 Mr Tokyo Japanese Restaurant

10012 BENFIELD RD, CHARLOTTE NC 28269
Scored 84 (B) on 7/23/2024

They had the following violations;

  • Observed employee wash hands then use clean hands to turn off faucets.
  • Observed employee wipe nose with bare hands the placed gloves on without hand wash.
  • Observed employee wipe nose and then don new pair of gloves without hand wash.
  • Observed employee grab RTE food (peeled cucumber) with bare hands to slice for sushi bar.
  • Observed hand sink in back with towel and hand sink in front of facility with food debris.
  • Observed several plate and appetizer plates stacked as clean with food debris.
  • Observed salads, Cream cheese, tuna and shrimp above 41F please see temp chart.
  • Observed back door held open by boxes and no shield from outside pests from entering.

#1 American Deli

5700 UNIVERSITY POINTE BV, CHARLOTTE NC 28262
Scored 78 (C) on 7/22/2024 

They had the following violations;

  • Observed PIC is not ensuring that the rules of the food food are maintained and following safe food handling.
  • Observed no one wash their hands within the 2 hours of inspecting.
  • Observed employees handling raw meat, leaving work station multiple times, and touching door handles and prep top handles, and never stop to wash their hands.
  • Observed raw chicken above bread in the walk in freezer. Chicken was not frozen.
  • Observed raw chicken above lamb meat for gyros in walk in freezer. Meat was not frozen.
  • Observed dicer and strainer stored as clean with food debris.
  • Observed sanitizer water in 3 comp sink at 0ppm chlorine.
  • Observed inside of ice machine door and white shield in ice machine with large amount of buildup.
  • Observed turkey, ham, and yellow and white American cheese slices in prep top above 41F. Containers were filled past fill line.
  • observed ranch and tartar sauce cups being held out of refrigeration above 41F (package states keep refrigarated).
  • Observed sanitizer bucket on counter top next to single service sauce cups and lids.
  • Observed container of sliced onions on the floor in the back. Employee was actively slicing onions and putting it in a container on the floor.

If you’d like to monitor health scores or do a quick search for a restaurant you’re about to eat at, check out North Carolina’s health inspection database here.

Understanding North Carolina Foreclosure Processes and Timelines

Sharon Anderson
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Understanding North Carolina Foreclosure Processes and Timelines

Foreclosure is a complex legal procedure where lenders seek to reclaim the balance of a loan from borrowers who have ceased making payments. In North Carolina, understanding this process is crucial for both homeowners and investors. This knowledge helps navigate the intricate legal landscape, ensuring that parties involved can make well-informed decisions. This article delves into the specifics of North Carolina’s foreclosure processes and timelines, offering a comprehensive guide to aid those facing or interested in foreclosure.

Overview of Foreclosure in North Carolina

The North Carolina General Statutes provide for both judicial and non-judicial foreclosures. Non-judicial foreclosures are more common due to their efficiency and lower cost, typically taking about 110 days to complete.

Pre-Foreclosure Period

Before a lender can exercise their power to sell the mortgaged property, they must file a notice of hearing with the court clerk. This notice informs all interested parties of the court hearing to determine if the foreclosure will proceed. The notice must be served at least 10 days before the hearing date and can be served through various means, including posting on the property if necessary.

Types of Foreclosures in North Carolina

North Carolina primarily uses non-judicial foreclosures. Judicial foreclosures are less common and usually reserved for cases involving specific complications, such as title issues.

Notice and Sale Process in North Carolina

The notice of sale must include several key details:

  • Instrument Description: Information about the legal document authorizing the sale.
  • Sale Timing and Location: Date, time, and location of the sale.
  • Property Description: Clear terms communicating what is for sale.
  • Sale Terms: Terms specified in the legal document, including cash deposit requirements.
  • Tax and Assessment Information: Details about any taxes and special assessments.
  • Subordinate Rights and Interests: Information about any subordinate rights or interests.

This notice must be mailed to the borrower and relevant parties at least 20 days before the sale date, posted in a public notice area, and published in a local newspaper for two consecutive weeks.

Avoiding Foreclosure by Selling Your Mortgage Note

Homeowners in North Carolina facing foreclosure may avoid foreclosure by selling their mortgage notes to a reputable note buyer. This option provides a lump sum of cash and helps avoid the negative impact of foreclosure.

Borrower Rights and Protections in North Carolina

Borrowers in North Carolina have certain protections during the foreclosure process, including the right to be notified of foreclosure proceedings and the opportunity to contest the foreclosure at a preliminary hearing. Borrowers can also defend against deficiency judgments by demonstrating the property’s value or sale price discrepancies.

Redemption and Deficiency Judgments in North Carolina

Borrowers have a 10-day right of redemption after the sale by paying the owed amount plus any sale costs. Lenders can seek deficiency judgments if the sale price does not cover the mortgage balance, provided they act within one year post-sale.

Special Protections and Programs in North Carolina

Pre-Foreclosure Notices

At least 45 days before filing a notice of hearing, a mortgage servicer must mail a pre-foreclosure notice to the borrower. This notice includes:

  • A detailed list of overdue amounts and additional fees.
  • Information about alternatives to foreclosure.
  • Contact details for assistance from the lender, servicer, or HUD-approved counseling agencies.

State Home Foreclosure Prevention Project

The Project aims to prevent home loan foreclosures, managed by the Housing Finance Agency with contributions from various partners. The agency can delay foreclosure filings by up to 30 days if there is a reasonable chance of preventing foreclosure.

Comparative Insights

North Carolina’s foreclosure processes have unique aspects compared to other states, such as notice periods, costs, and impacts on credit scores. The table below provides a comparative overview of key aspects of North Carolina’s non-judicial foreclosure process:

Aspect Non-Judicial Foreclosure
Initiation Filing of Notice of Hearing
Time Frame ~110 days
Cost $1,500 to $4,000
Court Involvement Limited
Redemption Period 10 days
Deficiency Judgment Possible within one year

Conclusion

Understanding North Carolina’s foreclosure laws and processes is beneficial for homeowners and investors. For those on the brink of foreclosure, selling the mortgage note can provide an alternative to losing the property. Staying informed and proactive can help mitigate the impact of foreclosure and lead to better financial outcomes.

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