By Sam Boykin

Blythe Construction Inc. will put up $20 million to help fund the start of a long-awaited NCDOT project that will ultimately complete the Charlotte Outer Loop Interstate in northeast Mecklenburg County.

The deal, which Gov. Bev Perdue announced during a Charlotte press conference yesterday, is an unusual one. As described in detail in a story in a March 23 story in The Mecklenberg Times, it uses a mechanism called design/build/finance, the first time such a model has been used in North Carolina.

“It’s a new tool in our toolbox,” Perdue said yesterday at the Metrolina Traffic Management Center on Tipton Drive.

Under the traditional model, the state awards contracts separately for design and construction of a highway, and those steps occur sequentially. Under design/build, one contract is awarded for both functions, which allows teams to design and build simultaneously and finish projects sooner. In this case, Blythe Construction, headquartered in Charlotte, has partnered with Wilbur Smith Associates, a design firm in Raleigh.

NCDOT has used design/build on about 35 projects in North Carolina over the past 14 years, including the widening of I-77 and I-485 in Charlotte, said Rodger Rochelle, Director of NCDOT’s Transportation Program Management Unit.

But this is the first time the state agency has added a financial component, in which the contractor puts up a portion of the project cost. As the General Assembly in the future appropriates money for urban loops, the state will reimburse the contractors’ share, with interest.

The $139.5 million project will consist of constructing a multilevel interchange at I-485 and I-85 and will complete the loop.

Jim McBryde, Blythe Construction vice president, said yesterday that while his company has made arrangements to borrow its $20 million portion of the project if necessary, “our intent is to self-finance the money.”

Perdue said that of the four companies short-listed for the project, Blythe submitted the lowest bid. She credited North Carolina Secretary of Transportation Gene Conti, who was also at the press conference, with helping put together the unique deal.

“Traditional highway trust funds are not enough to fund North Carolina’s highway and road projects,” she said. “Conti helped us figure out a new model for the 21st century.”

The new financing component establishes terms that give the NCDOT time beyond the construction period to pay back the contractor.

McBryde said Blythe Construction expects to start work on the project next June and finish by December 2014. During peak construction, about 150 employees will be at work. The state will pay the contractor about 85 percent to 89 percent of the total cost of the contract during this time and will make the remaining payments throughout 2015.

Conti said this allows the project to be contracted and built in a competitive construction environment in way that will save taxpayers an estimated $25 million. He also said it will help accelerate the project by three to five years.

NCDOT I-485 CHARLOTTE OUTER LOOP PROJECT

The I-85/I-485 interchange is actually three related projects combined into one package. The first is completion of the remaining five miles of the I-485 loop ($185 million); the second is the widening of I-85 into Cabarrus County ($200 million); and the third is the interchange to connect I-485 with I-85 ($155 million), for a total cost of $540 million. Two of projects rely on the design/build/finance model, while the widening of I-85 is simply design/build.

Rodger Rochelle, director of NCDOT’s Transportation Program Management Unit, said that separating the project into three smaller jobs increases the number of contractors that can do the work and obtain financing.

It also increases competition among contractors and produces lower bids. Rochelle said the NCDOT expects to open bids for the three projects this summer, and begin construction by next spring. The plan accelerates construction of the loop by about five years, with completion of all phases scheduled by 2015.

The interchange will be the final link in the Charlotte Outer Loop. Construction on the outer loop started in 1988, and when completed will be approximately 67 miles, said Jen Thompson, NCDOT public information officer.

According to NCDOT’s analysis, the beltway, parts of which have eight travel lanes, will accommodate more than 130,000 vehicles per day by 2035. The outer loop connects to several major highways, including I-77, NC 16, NC 115 and US 74.

Courtsey of Mecklenburg Times

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05/26/2010…3:56 PM

A cause for cautious optimism in home building

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Unbelievable Deal!! Near Ballantyne in South Charlotte.

Price just reduced to $479,900.

over 5800 Sq ft.  Call today at (704)840-4137 for more information. Bank shortsale approval required.

11826 Churchfield Dr. , Charlotte, NC, 28277

Call Rod Potter today at (704)840-4137 to find out more information on this listing.

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Here are the top 10 cities the magazine chose as the best places to buy right now.

Source: Forbes, Francesca Levy (01/21/2010)

Call Rod Potter at (704)840-4137 today to talk about why I feel that we are a great place to live!

When looking for the perfect neighborhood for you and your family,  there are certain things  that you can look for including……

1. Make a list of all of the amenities that are close by in the neighborhood you are considering as your new residence.  Keep in mind what distances and routes to each of these places are acceptable and what are not.

2. Determine what the best features of the neighborhoods are.  This is especially helpful if you are deciding between a few different neighborhoods.

Are there parks nearby?
Is it scenic and visually appealing?
Are there quiet areas, streets, culs de sac?
Are the people friendly in the neighborhood?
Is the neighborhood clean?  Yards, streets, parks?
Are there nice trees and foliage?
Do the lots have large or small yards?
Are there walkways and are they easily accessible?
Is it a safe neighborhood?
What are the market values of the homes in the area?
Are there many houses for sale?
How long ago was the community developed?
What is the average age of the people in the area?
Are there families with small children in the area?
What is the proximity to schools?
Are there community events or organizations?

3. Walk around in the neighborhood.  The best way to determine the cleanliness and friendliness of the neighborhood is to walk around in it and meet its residents.

^{Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137 / Website:  www.rodpotter.com}

In these difficult times, it can feel like there are nothing but bad choices.   However, some are not as bad as others.   If you are finding yourself having difficulty with keeping up with your payments you do have some choices.

Short Sale: Even if you are behind on your payments or don’t think you can sell your home for as much as you owe, we may still be able to help you sell our home and get out from under your loans.   A short sale is when you sell your home for less than the total amount you owe the lender(s).    The process can be arduous but you avoid a foreclosure and generally will face less negative consequences on your credit score.   We have successfully negotiated over 30 short sales and usually gotten the lenders to forgive the shortfall on the payoffs.

We will help you through every step of the process.  The lenders generally require a couple years of tax returns, bank statements, and a letter explaining why the loan cannot be paid in full (a hardship letter).

Foreclosure: Foreclosure is when the bank actually goes through the process with the public trustee to sell a property at auction.   The process starts when the Public Trustee sends a Notice of Election and Demand.   From that point it can be as little as 120 days before the property is sold at auction.  Frequently the bank ends up with the property.    Even if the process has started, you may still be able to sell your home – if we can get an offer, most lenders will pause (forestall) the foreclosure proceedings, giving more time to complete the sale.

Foreclosure can a have significant effect on your credit score, ability to obtain loans, possible employment (if potential employers check it) and even security clearances.

Contact me today for more information!  Email: rpotter@carolina.rr.com / Phone: (704)840-4137 / Website:  www.rodpotter.com

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Many of the advantages of home ownership are not immediately obvious. However, when you are weighing the pros and cons of buying over renting, understanding these advantages can definitely allow you to make a more educated decision.

For example, consider the down payment that most lenders require.  Unless you qualify for a special mortgage program or have an absolutely perfect credit history, most lenders will require that you make a down payment equal to 20% of the purchase price.  That down payment can be quite significant! If you are purchasing a home for $300,000, a 20% down payment amount will be $60,000.  The primary purpose of these funds is to provide a measure of security for the lender, but there is a secondary purpose that benefits the home buyer.

What is the benefit to the home buyer? The funds that you provide as a down payment actually serve as a high-performing investment vehicle that will help you to plan and save for your future. How?

How Is This Possible?
There is a simple calculation, but the answer is actually fairly complex. Homes generally appreciate in value at a rate of five percent per year.  Therefore, let´s assume that your home´s value will increase to $315,000 in just one year. This means that you´ll have earned $15,000 and the value of your initial investment has grown by 25% in only one year! What other investment mechanism do you know of that can provide that amount of security and be as enjoyable as owning your own home?

And there are additional benefits when you buy a home. Your savings actually continue when you purchase a home, because many tax deductions and benefits are available only to home owners.  You can deduct the interest that you pay on your mortgages at the end of every tax year ? and your property taxes are deductible too.  These deductions are used to lower your taxable income. With a $300,000 home, you can expect to reduce your taxable income during the first year alone by around $30,000.  This tax benefit is one of the best reasons to consider buying versus renting.  When you rent, you are not eligible for this reduction in taxable income.

These deductions create a fantastic advantage for buying over renting.  And, as if that weren´t enough, consider that you will have a stable and unchanging housing payment for the duration of your mortgage.  In contrast, rental prices increase frequently, usually every year.  With a mortgage payment that you can comfortably afford now, you will never again have to face the dreaded rent increase.

As you can see, there are many financial reasons to buy a home. But what about the logistics of your housing?  When you purchase a home, at least in most cases, you will have a lot more available space than you would in a rental.  Sure, there are private homes available for rent but most people opt to rent apartments. A purchase home definitely has more space than do most apartment rentals.

And speaking of space3; if you own your own home, then the space is yours to configure as you like.  If you decide that you would like a larger kitchen, for example, you are free to make your own renovation plans.  You can express your individual style and taste through the way that you choose to decorate and there are virtually no limits to the changes you can choose to make on your property.  Not so with a rental property.  Even houses that are rented usually need some type of reconfiguration to meet your particular needs, but when you are renting, you need to find ways to work around this, since you do not have the freedom to modify the property in the ways that you could if you owned the home.

When you rent, you are not able to install a swimming pool, hot tub or in some cases even a play set for your children.  Therefore, when living space and the freedom to personalize are important to you, buying your own home is a very good option.

Additional Advantages

Home Equity
Equity, when considered strategically, is practically an immediate return on your investment when it comes to buying a home.  As a home owner, your home´s equity begins to grow immediately, from the very first day that you are the owner.  In the future, as the value of your home increases and the amount of your mortgage decreases, you will be able to borrow against the accumulated equity for expenses like home improvements, weddings or your children´s education.  Or, you can use the equity to secure a future mortgage on a second home. The more equity in your home, the better the chance that you will earn a profit when you sell your home and decide to purchase a more expensive home.

Principal
Every single mortgage payment that you make will actually increase the amount of equity in your home while reducing the principal of your mortgage.

Credit Score
Home owners generally have higher credit scores than do non-owners.  Remember that a mortgage loan in good standing on your credit report shows responsible borrowing. In contrast, renting does not appear on your credit report at all.

Community
When you purchase a home, you are joining a neighborhood.  Most owners quickly realize the value of becoming part of a community and forming relationships with those who live around them.  In some cases, renting can provide this same benefit, but renters are often transient and the relationships formed while renting may or may not last.

Security: Home ownership provides the security of knowing that no one else has access to your home unless you specifically grant them access. It also gives you the security of knowing that you have a wonderful place to call home, and that no one can take it away from you.

Privacy
Owning a home will give you far more privacy than renting.  In addition, you will have more access to the private outdoor areas around your home.

In Conclusion
All of these advantages can and will be yours when you decide that it is time for you to purchase a home of your own.

But there is one more advantage that hasn´t been mentioned yet.  When you own your own home, you are realizing a large part of the American Dream.  Many people dream of owning their own home and are simply not at a stage in their lives where ownership is an option.  Fortunately, you can make the dream a reality by purchasing a home of your own.

Take some time to carefully consider the advantages of home ownership that are listed above, and also consider any possible detractors that you might encounter along the way.  Making an educated and well thought-out decision will make you a better buyer and a better home owner in the long run.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137

Moving to a new home is an exciting event.  Whether you plan to move down the street or five states away, the moving process does not change very much.  Keep in mind, though, that even when the move is to a better place, the process of moving can be very tiring and stressful for you and your family.

Realtors have many years of experience working with people like you and have gathered information about the moving process during that time. The information they can provide will be helpful to you whether you are selling and moving or buying a home for the first time. Naturally, there will be differences in the process for everyone, because no two situations are identical. But by following these practical tips, you will make your move ? and your life ? easier during this exciting time.

Keep a Calendar!
Once you have decided to move from your current home, even if that move seems to be in the distant future, you need to begin planning each step as soon as possible.  Advanced planning, when possible, will make the process smoother for everyone involved and it will also help you remember all the little details.

An organizer-type calendar with a folio cover will help you keep everything together. You can put important papers and notices in the folder to stay organized.  Organization is the key to success in almost everything, and planning a move is no exception.

If you know when you are moving, the first thing to write in your calendar is the date of the move. Work backwards from there to note critical tasks along the way.  As you think of things that you need to do, make a note of them in the calendar.

Schedule some personal time, too. It is important to make sure that you are spending time doing the things you love to do, as well as the things you have to do for your move.

Keep an Updated Phone List!
To ensure that you are ready to disconnect and connect your utilities when the time comes, and that you don´t forget anything of importance, keep a list of important telephone numbers inside your calendar folder.  Depending on where you are moving and how far it is from your current home, you may need to arrange for new doctors, dentists, and other professional services as well.

Try to establish a relationship with your new doctor as early as possible to ease the transition process. Also, if you are changing doctors or dentists, request that your medical records be transferred ahead of time.

Make a Complete Inventory!
Keeping an inventory of your assets is a good way to avoid forgetting anything when you move.  Well before moving day, begin to keep an inventory in a notebook.  Begin with your largest pieces of furniture and work your way down to smaller possessions.

Having a complete inventory will make the process of sorting and packing easier, too.  It will help you make an accurate estimate of the number and sizes of boxes required and decide whether you need to rent a storage unit. Also, if you are moving far away from your current home, you be estimate how large a moving truck you will need.

Determine Whether You Will Hire Movers or Do It Yourself!
Sometimes, home buyers know in advance whether they plan to use professional movers or complete the move themselves with the assistance of friends and family.  However, because every situation is different, sometimes this is a difficult decision.  In general, if you have a lot of heavy furniture and not enough help to move it on your own, hiring professional movers is an excellent idea.

On the other hand, if you are preparing to move into your first home and expect to purchase most of your furniture afterwards, then hiring professional help may not be worth the expense.

Most of the time, it is a good idea to hire movers for long-distance moves. First, consider the cost of renting multiple trucks and the fuel associated with hauling.  When you hire professionals, you are almost always sharing that cost with someone else for an interstate move.  This may be the case for short-distance moves, too. It really depends on the moving company and what you will be moving.

Clean Out the Clutter!
When you prepare for your move in advance, you have time to get ride of the clutter that you have accumulated.  The garage may be a good place to start, so that when you begin the process of packing you will have a place in which to store the boxes.

If you plan to sell your home while preparing to move, it is a good idea to eliminate clutter anyhow, since clutter-free homes are more attractive to potential buyers.  Consider holding a garage sale or making charitable donations.  You could also offer to give your items to friends and family members who could put them to good use.

Regardless of how you choose to eliminate clutter, it is a highly involved and time-consuming process.  Therefore, if you need to move soon, without much advance notice, know that it may be necessary to wait until you have reached your new destination to sort through your belongings and decide what to keep and what to eliminate.

Hire Help Throughout the Moving Process!
For families with young children, babysitting is the most valuable service that can be procured while preparing for a move.  Hire a local teenager, a relative, or even a daycare center.  This will give you the time and freedom necessary to successfully prepare for your upcoming move.

Again, the process can be more complicated when you are preparing for a move and selling your home simultaneously.  You may need to hire landscapers, painters and even haulers to help with some of the more difficult chores.

Hopefully, these tips on successfully preparing for a move will make the process less stressful for you and everyone else involved.  The value of a folio-style calendar cannot be stressed enough.  If you purchase one that is large enough to hold all your important documents in one place, you will never need to spend your valuable time searching for the information you need.

Allow yourself as much time as possible before the move, to prepare and pack.  And remember to take good care of yourself throughout the process. Getting enough sleep and eating healthy meals is critical.  Too many people rely on fast-food meals during the moving process, but a steady take-out diet is a recipe for disaster. Make wise choices and schedule time to eat nutritious meals.

Also, make sure that you are getting enough exercise.  Even a short daily walk will keep you refreshed and healthy, so schedule enough time every day for at least a short walk outside.  Sometimes, breaking up the tedium of moving preparations is the best gift that you can give to yourself.

Contact me today for more information!  Rod Potter/ Email: rpotter@carolina.rr.com / Phone: (704)840-4137