Rents are on the rise in Charlotte – May 2020 Charlotte Rental Report

Charlotte Stories
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Rents are on the rise in Charlotte – May 2020 Charlotte Rental Report

In spite of rental rates flattening out across the nation, Charlotte’s rates have continued to increase at record paces.

ApartmentList.com just released their May 2020 rent report, showing the 5th straight month that our city has seen rent increases after a decline in November of last year.

Here are some of this month’s highlights for Charlotte:

  • Rents in Charlotte have declined 0.5% over the past month, and are up 1.7% year-over-year.
  • Charlotte’s median two-bedroom rent of $1,153 is below the national average of $1,196.
  • Over the past year, rent increases have been occurring not just in the city of Charlotte, but across the entire state – of the largest 10 cities that we have data for in North Carolina, 9 of them have seen prices rise.

If you’d like to check the full report, you may find it here.

Charlotte Reopens Parks – Malls Opening Next Week As Leaders Begin Easing Restrictions

Charlotte Stories
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Charlotte Reopens Parks – Malls Opening Next Week As Leaders Begin Easing Restrictions

Mecklenburg County Park and Recreation have just reopened local parks and loosened restrictions around our city.

According to a statement by county officials; “parking lots for parks, greenways, and nature preserves will reopen for vehicles, instead of simply walk-in and bicycle access. In addition, boat ramps at Ramsey Creek, Blythe Landing and Copperhead Island will reopen.” These new rules officially took effect yesterday.

The county also took the locks off tennis courts allowing for players to play tennis, so long as CDC social distance guidelines are maintained.

Simon Properties has also announced that they plan on reopening Concord Mills, SouthPark Mall, and Charlotte Premium Outlets next Friday as Governor Cooper begins phase 1 of the state’s reopening.

According to Governor Cooper’s plan, the 3 phase opening plan is set to begin on May 8th, barring any spike in new cases.

In Phase 1:

  • Modify the Stay At Home order allow travel not currently defined as essential allowing people to leave home for commercial activity at any business that is allowed to be open, such as clothing stores, sporting goods stores, book shops, houseware stores and other retailers.
  • Ensure that any open stores implement appropriate employee and consumer social distancing, enhanced hygiene and cleaning protocols, symptom screening of employees, accommodations for vulnerable workers, and provide education to employees and workers to combat misinformation
  • Continue to limit gatherings to no more than 10 people
  • Reopen parks that have been closed subject to the same gathering limitation. Outdoor exercise will continue to be encouraged.
  • Continue to recommend face coverings in public spaces when 6 feet of distancing isn’t possible
  • Encourage employers to continue teleworking policies
  • Continue rigorous restrictions on nursing homes and other congregant care settings
  • Local emergency orders with more restrictive measures may remain in place.

Phase 2

At least 2-3 weeks after Phase 1

  • Lift Stay At Home order with strong encouragement for vulnerable populations to continue staying at home to stay safe
  • Allow limited opening of restaurants, bars, fitness centers, personal care services, and other businesses that can follow safety protocols including the potential need to reduce capacity
  • Allow gathering at places such as houses of worship and entertainment venues at reduced capacity
  • Increase in number of people allowed at gatherings
  • Open public playgrounds
  • Continue rigorous restrictions on nursing homes and other congregant care settings

Phase 3

At least 4-6 weeks after Phase 2

  • Lessen restrictions for vulnerable populations with encouragement to continue practicing physical distancing and minimizing exposure to settings where distancing isn’t possible
  • Allow increased capacity at restaurants, bars, other businesses, houses of worships, and entertainment venues
  • Further increase the number of people allowed at gatherings
  • Continue rigorous restrictions on nursing homes and other congregant care settings

Governor Cooper underscored the need for the testing, tracing and trends to move in the right direction for each of these phases to move forward. If there is a spike in infections, tightening of restrictions may be needed temporarily.

What do you think about the plans?

Purchasing UK Property in a Brexit Market: Top Tips for Investors

Cackie Morrow
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Purchasing UK Property in a Brexit Market: Top Tips for Investors

Purchasing a UK property investment isn’t a smooth and plane sailing process when the property market is fluctuating due to measures outside of our control. Brexit changed the investment market for many people, but those that have used the advice given to them from previously successful investors find they thrive in the sector. If you’re a savvy investor, you should think about how to invest in property and do it successfully. Doing so involves creating a clear and robust strategy that has been tried and tested.

Are you ready to invest, but unsure of how to get started? Take a look at the tips below for investors who want to invest in UK property in a Brexit market.

Find high yielding areas

As a buy to let investor, you will need to ensure the place you’re purchasing a property in is a high yielding area. On average, rental yields can vary from 3 to 10% depending on the location and what’s going on the city. Totally Money’s Buy to Let map highlights that 6 Liverpool postcodes rank in the top 25, with L1, L6 and L11 having average rental yields of 8% or above. L1 is actually 10% rental yield as an average, which is the highest in the country. Investors can enjoy vast amounts of capital growth over the next decade as Liverpool continues to have regeneration projects completed around the city centre and the suburbs too. According to RWinvest, Manchester and Sheffield also boast high yielding properties since capital appreciation had meant the cities have grown in popularity and their economy has hugely increased too.

Make sure there is demand

Before purchasing a buy to let property or even a buy to sell property, you need to ensure there is a demand for it. Without tenants and buyers, you won’t have a successful investment journey and be able to continue this success in future. Having a demand will mean that as soon as your property is ready, someone will want to get it and either live in it or sell it. City centre properties such as studio, one- and two-bed apartments are highly in demand by young professionals, since they want somewhere close to their workplace. However, if your target tenant audience is a young family who wants their next home, you may want to look somewhere towards the suburbs with good transport links and accessible shopping facilities.

Keep within a budget

You will have a budget set out before purchasing your property, and you must ensure you stick to this. Why? Simply because it’s important to find something you can afford. However, if you don’t have the cash budget, you can get a buy to let mortgage to make up the rest. For example, if you have £80,000 in cash and want to purchase a property worth £150,000, then you would get a mortgage to cover the rest. The interest rates on a buy to let mortgage are different to those of a buy to let mortgage but they’re not too different in how they work. This means if you’ve previously had a mortgage, you should be confident going forward. 

Color Ideas to Improve the Looks of Your Small Kitchen

Russell Hudson
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Color Ideas to Improve the Looks of Your Small Kitchen

Springtime, sunshine, and imagination: this is all you need to start your renovation project in the kitchen. Springtime is a season where everything gets a fresh start – and this should apply to the walls of your kitchen as well. But what should you do if your kitchen is rather small? What colors work best in that scenario? Well, here are some ideas for you.

  1. Golden Yellow

“Sunshine, daisies, water mellow, make this kitchen golden yellow!” This “spell” should make your kitchen look warmer and more welcoming, particularly when you paint your walls a warm golden yellow. That being said, if you go for this color pattern, you might want to avoid adding other colors as well – except for, perhaps, white. Black is also suitable and works with the golden color – but it might not be such a good choice for small kitchens.

  1. Pure White

When in doubt, one should always go with white. The color itself is very calming – and, well, works with everything. White has a very good way of making a room seem bigger – thus, it is a good choice for those that have a smaller kitchen. Plus, another great advantage of white is that it goes with pretty much any other color. So, no matter if you have blue, cream or crazy pink cabinets, they will look phenomenal with white walls. 

  1. Turquoise

If you are looking for a more retro look to your kitchen, you might want to try turquoise on your walls, and mix it with furniture colored in goldenrod yellow and chartreuse. Muted colors, however, are the ones that are in – but the finish of the cabinets will make everything seem more striking. Ceramic tiles will also improve the looks of your kitchen, energizing it, and making it seem more modern overall. 

  1. Gray Mix

We’re not saying that the entire kitchen should be just one shade of gray – but a mix of dove gray, charcoal gray, and silvery gray, for example, can make your kitchen pop. This monochrome thematic will allow you to easily move your eyes throughout the kitchen, allowing for a subtle transition between the highly complimenting colors.

  1. Ocean Blue

Those that wish to go for a more calming kitchen vibe might want to choose ocean blue or some saturated aqua tones. Mix this with some cabinets that have been painted a pale minty color, and everything will automatically look breezier and brighter. Also, if you want to make the kitchen look more tropical, add some orange accents that will send you even further down the style shores. 

  1. Grassy Green

Grassy green is a bit lighter in comparison to regular green, making it a fabulous choice for a smaller kitchen. This refreshing hue will not only calm you down and keep you connected with Mother Nature, but it will also make your kitchen look all the more spacious. It will mix harmony with luminosity – and if you mix it with wood colored/patterned lower cabinets and islands, you will get an interesting kitchen whose colors seem to pop. 

  1. Creamy White

If white and yellow aren’t exactly your colors, why not go for the in-between option instead? Creamy white will give you that same impression of spaciousness, making your kitchen look nice and elegant. One tip would be to go for a hue that has a yellow undertone, as it will make your kitchen seem even warmer. 

  1. Paprika Red

If you want your kitchen to be less boring and more daring, then you might want to go for paprika red mixed with white, for example. How you mix the two colors is entirely up to you. You might go for a paprika red wall and white kitchen cabinets – or you may go for white walls with red cabinets. However, what’s certain is that the red will make your kitchen seem more elegant, whereas white will make it seem even bigger.

The Bottom Line

In the end, the color that you choose should be based on your preferences. However, bear in mind that small kitchens benefit more from light colors, as they make it look more spacious. 

Charlotte Music Community COVID-19 Relief Fund Now Accepting Donations

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Charlotte Music Community COVID-19 Relief Fund Now Accepting Donations

Music Everywhere CLT, in partnership with FAIR PLAY Music Equity Initiative and Tosco Music, announced today the launch of the Charlotte Music Community COVID-19 Relief Fund. This Fund will provide rapid financial assistance to members of the Charlotte-area music community who have been financially impacted by the COVID-19 situation.

“This is a very difficult time for the Charlotte music community, particularly those who normally make most of their income from music. We, along with our partners FAIR PLAY and Tosco Music, wanted to step up and support the music community, at a time when they need us most,” says Rick Thurmond of Music Everywhere CLT and Charlotte Center City Partners.

A GoFundMe page is now live for the fund. On Saturday, May 9 at 8pm, Tosco Music will be presenting its first-ever virtual Tosco Music Party – From Our Living Room to Yours. It will stream live on Facebook and Vimeo and will be a benefit for the Fund. More details can be found here.

The Fund is made possible in part by generous support from AvidXchange.

North Carolina Has The 5th Biggest Increase in Unemployment Due to Coronavirus

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North Carolina Has The 5th Biggest Increase in Unemployment Due to Coronavirus

The U.S. unemployment rate is still on an upward trend, with roughly 30.3 million Americans now having lost their jobs since the start of the coronavirus pandemic, despite the fact that some states have already begun to selectively reopen businesses. Today, WalletHub released updated rankings for the States with the Biggest Increases in Unemployment Due to the Coronavirus.

To identify which states’ workforces have been hurt most by COVID-19, WalletHub compared the 50 states and the District of Columbia based on increases in unemployment claims. We used this data to rank the most impacted states in both the latest week for which we have data (April 20) and overall since the beginning of the coronavirus crisis (March 16).

States with the Biggest Increases in Unemployment Due to Coronavirus

State Most Affected Last Week  Most Affected Since Start of COVID-19 Crisis
Florida 1 5
Georgia 2 1
Kentucky 3 4
Louisiana 4 3
North Carolina 5 6
South Dakota 6 9
Virginia 7 7
West Virginia 8 26
Mississippi 9 13
Alabama 10 17
Washington 11 29
South Carolina 12 12
Texas 13 36
Indiana 14 10
Nevada 15 19
District of Columbia 16 18
Kansas 17 22
New Hampshire 18 2
Oklahoma 19 28
New Mexico 20 27
Colorado 21 14
Tennessee 22 21
North Dakota 23 11
Missouri 24 24
Hawaii 25 20
Minnesota 26 15
Ohio 27 16
Arizona 28 43
Nebraska 29 23
Michigan 30 8
Alaska 31 49
Maryland 32 31
Massachusetts 33 34
Oregon 34 50
Iowa 35 33
Utah 36 35
Arkansas 37 41
Rhode Island 38 40
Illinois 39 42
New York 40 38
California 41 45
Pennsylvania 42 32
Maine 43 25
Delaware 44 30
Wyoming 45 48
Wisconsin 46 47
Vermont 47 46
Idaho 48 37
Montana 49 39
Connecticut 50 51
New Jersey 51 44

Increase in North Carolina Unemployment Due to Coronavirus (1=Worst, 25=Avg.):

  • 3,330.91% Increase in Unemployment Claims (April 2020 vs April 2019)
    • 97,232 the week of April 20, 2020 vs 2,834 the week of April 22, 2019
    • 6th highest increase in the U.S.
  • 2,671.72% Increase in the Number of Unemployment Claims (April 2020 vs January 2020)
    • 97,232 the week of April 20, 2020 vs 3,508 the week of January 1, 2020
    • 4th highest increase in the U.S.
  • 4,332.19% Increase in Unemployment Claims Since Pandemic Started
    • 747,303 between the week of March 16, 2020 and the week of April 20, 2020 vs 17,250 between the week of March 18, 2019 and the week of April 22, 2019
    • 6th highest increase in the U.S.

To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/states-with-the-biggest-increase-in-unemployment-due-to-coronavirus/72730/

North Carolina Surpasses 10,000 COVID-19 Cases And Saw 6% Increase In Deaths Over 24 Hours

Charlotte Stories
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North Carolina Surpasses 10,000 COVID-19 Cases And Saw 6% Increase In Deaths Over 24 Hours

North Carolina officials just announced that our state has passed 10,000 confirmed COVID-19 cases.

This morning, the North Carolina Department of Health and Human Services reported a total of 10,509 cases, which is an increase of 563 compared to yesterday’s total. They also reported the death toll is now 378, which is 24 more than yesterday’s total – a 6% increase in 24 hours.

Mecklenburg County is now reporting a total of 1,627 confirmed COVID-19 cases (40 more than yesterday) and 47 COVID-19 deaths (1 more than yesterday).

Last week, Governor Cooper closed all schools for the remainder of the school year, extended North Carolina’s Stay at Home Order, and announced a 3-phase opening plan which could begin as soon as May 8th;

In Phase 1:

  • Modify the Stay At Home order allow travel not currently defined as essential allowing people to leave home for commercial activity at any business that is allowed to be open, such as clothing stores, sporting goods stores, book shops, houseware stores and other retailers.
  • Ensure that any open stores implement appropriate employee and consumer social distancing, enhanced hygiene and cleaning protocols, symptom screening of employees, accommodations for vulnerable workers, and provide education to employees and workers to combat misinformation
  • Continue to limit gatherings to no more than 10 people
  • Reopen parks that have been closed subject to the same gathering limitation. Outdoor exercise will continue to be encouraged.
  • Continue to recommend face coverings in public spaces when 6 feet of distancing isn’t possible
  • Encourage employers to continue teleworking policies
  • Continue rigorous restrictions on nursing homes and other congregant care settings
  • Local emergency orders with more restrictive measures may remain in place.

Phase 2

At least 2-3 weeks after Phase 1

  • Lift Stay At Home order with strong encouragement for vulnerable populations to continue staying at home to stay safe
  • Allow limited opening of restaurants, bars, fitness centers, personal care services, and other businesses that can follow safety protocols including the potential need to reduce capacity
  • Allow gathering at places such as houses of worship and entertainment venues at reduced capacity
  • Increase in number of people allowed at gatherings
  • Open public playgrounds
  • Continue rigorous restrictions on nursing homes and other congregant care settings

Phase 3

At least 4-6 weeks after Phase 2

  • Lessen restrictions for vulnerable populations with encouragement to continue practicing physical distancing and minimizing exposure to settings where distancing isn’t possible
  • Allow increased capacity at restaurants, bars, other businesses, houses of worships, and entertainment venues
  • Further increase the number of people allowed at gatherings
  • Continue rigorous restrictions on nursing homes and other congregant care settings

Gaston County Backtracks on Plans To Reopen After Letter From The Governor

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Gaston County Backtracks on Plans To Reopen After Letter From The Governor

Yesterday, Gaston County leaders announced that they would be signing a new order at 5:30 pm to “Reopen” All Businesses and Churches in defiance of the North Carolina Governor’s Order.

In the morning, the leaders sent out a “Gaston Promise” proclamation which read, in part:

“We understand that what the Board supports is not in lock step with the Governor’s executive order, but we support putting our citizens back to work and allowing them to worship corporately, both of which are their constitutional rights. In fact, we are reminded by Article I, Section 13 of our North Carolina Constitution, that “all persons have a natural and inalienable right to worship Almighty God according to the dictates of their own consciences, and no human authority shall, in any case whatever, control or interfere with the rights of conscience.” Worship – whether by oneself or corporately -is an inalienable right of the people.”

Early in the afternoon, the Governor’s office released a statement about Gaston County’s proclamation and impending order:

“This order’s only effect is to create confusion during a public health emergency, which is dangerous.”

Gaston County leaders then rushed to ‘amend’ their order to align with the broader state order, which essentially nullified the proclamation they made in the morning.

The new order, which was signed at 5:30pm last night, includes an all-caps revision in the beginning which reads:

“REVISED ORDER OF THE CHAIRMAN OF THE GASTON COUNTY BOARD OF COMMISSIONERS…

…GASTON COUNTY RESIDENTS AND BUSINESSES ARE STILL SUBJECT TO AND RESTRICTED BY ANY AND ALL OF THE GOVERNOR’S EXECUTIVE ORDERS”

What do you think about the Governor’s Stay at Home Order? 

Duke Energy Aims to Double Renewable Energy Over Next 5 Years

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Duke Energy Aims to Double Renewable Energy Over Next 5 Years

Duke Energy will double its renewable energy portfolio over the next five years, the company announced this week in its latest Sustainability Report.

Nationwide, the company owns, operates and contracts for just over 8,000 megawatts of wind, solar and biomass energy – about 14% of its over overall generation capacity. That’s enough to power more than a million homes. The company is looking to double that to 16,000 MW by 2025.

“Growing our renewable portfolio by 8,000 megawatts in five years will not be easy. But our regulated and commercial teams are laser-focused on making it happen,” said Rob Caldwell, president of Duke Energy Renewables.

In North Carolina, Duke Energy owns and operates 40 solar facilities in the state, with more on the drawing board. The company has helped North Carolina become the No. 2 solar state in the nation – only behind California.

The company owns and operates wind and solar facilities in 20 states across the nation.

With the addition of its fleet of nuclear and hydroelectric plants, half of the company’s generation in North Carolina is greenhouse-gas free.

Gaston County “Reopening” All Businesses and Churches In Defiance of NC Governor’s Order

Charlotte Stories
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Gaston County “Reopening” All Businesses and Churches In Defiance of NC Governor’s Order

In a bold move of partisan defiance, Gaston County leaders have just introduced a new order that will openly violate North Carolina’s ‘Stay at Home Order’ by opening up all Gaston County businesses and churches starting today.

In a press conference this morning, Gaston County Commission Chairman Tracy Philbeck said he is about to sign an order that “reopens Gaston County” starting this evening at 5pm.

“We’re letting our folks know, we support them going back to work,” Philbeck said.

The new order is called the “Gaston Promise” and focuses mostly on the North Carolina Constitution in defending its defiance of the North Carolina Governor’s orders.

“We understand that what the Board supports is not in lock step with the Governor’s executive order, but we support putting our citizens back to work and allowing them to worship corporately, both of which are their constitutional rights. In fact, we are reminded by Article I, Section 13 of our North Carolina Constitution, that “all persons have a natural and inalienable right to worship Almighty God according to the dictates of their own consciences, and no human authority shall, in any case whatever, control or interfere with the rights of conscience.” Worship – whether by oneself or corporately -is an inalienable right of the people.”

Philbeck seems to have drawn his motivation directly from President Trump, echoing the President’s phrase; “The cure cannot be worse than the problem” in a tweet he posted this morning:

As of this morning, Gaston County has 137 confirmed COVID-19 cases and 3 confirmed deaths.

What do you think about Gaston County’s decision to go against the state’s order?

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