Real Estate Investment Newsletter October 2006

Calloway Investments, Inc is pleased to announce that phase two in the Villages at Bent Creek will be opening soon.

The Villages at Bent Creek is ideally located just minutes from uptown Charlotte in the Historic town of Mint Hill. Due to its close proximity to Interstate 485 and the Albemarle Road widening project, this area is currently preparing for a period of rapid growth including high-end housing developments, a new mall with major retail and a regional hospital.

As always, these town homes are brand new and have been upgraded with Calloway Investments' exclusive rent-ready package, and come with the builder's 2-10 year warranty. As everyone who purchased during phase one knows, this is an amazing opportunity to get in early in a market that is already growing quickly. Click here for further information about the Mint Hill area and available inventory in The Villages at Bent Creek.

Townhome Insurance

As our customers know, Calloway Investments, Inc has developed referral relationships with what we believe are the best vendors in the business for the services a property owner routinely needs. These special relationships allow us to offer a potential "turn-key" solution to our clients.

When it comes to protecting your investment knowledge is key to getting the coverage you need. Therefore, Edward Hyman of Anderson Hyman Insurance, one of our preferred insurance providers, has passed along some of his knowledge on town home insurance.

Town home owners have some special insurance needs that differ from that of a condominium or single-family home owner. Unlike a condominium, town home owners need to insure both the town home itself and the lot that it stands on. Townhouse insurance covers not only the town home but your personal property and protects you from personal liability should someone get injured on the property. It may also cover trees, scrubs, plants, the lawn and unattached structures on the lot.

It is important, as an owner, to know if the neighborhood association has insurance. Some associations carry a master policy and this could save you from having to purchase some additional coverage. If the association does not have a master policy individual owners may find it in their best interest to have a basic single-family home owner's insurance policy.

Townhouse insurance covers the owner of the property, even if the town home is rented. Renters will need to purchase Renter's insurance to cover their personal property and protect their personal liability.

Just like single-family insurance policies, a basic policy does not usually cover damage from floods or earthquakes. There are also several things a home owner may be able to do to reduce their coverage costs, such as install an alarm system. There are many different coverage options; you should speak to an insurance professional, such as Mr. Hyman about what policy will best meet your needs.

$20,000,000 Office
Building Planned for
Constitution Park Area

Once again it looks like our predations are true; another key growth indicator is coming to Fort Mill, just around the corner from our Constitution Park neighborhood. Knoll Development, the developer that is working on the 3D Systems' headquarters in Rock Hill scheduled to open later this month, is expected to close on 80 acres near Knights' Stadium in October. This $20 million project will include a 160,000 square foot office building dubbed an "intellicenter". The building will be certified energy efficient and house amenities such as a fitness center, cafeteria and five parking spaces per 1,000 square feet of office space. This speculative project could house either a single large employer or several companies wanting to share the space. Either way this, along with South Carolina's attractive economic development incentives for businesses, should bring many more jobs to the already growing area.

Read about the new office building here

Click here to learn more about available
inventory at Constitution Park.

Dean Nikodemski, president and broker-in-charge of Carolinas Real Estate, Inc., one of our exclusive brokers, will be moving on to expand his business opportunities outside of Calloway Investments, Inc. Dean, a ten year veteran of ReMax, and a former ReMax Hall of Famer, originally left ReMax to start Carolinas Real Estate to handle Calloway Investments high volume of acquisitions and development business. As a collorary of his work with Calloway Investments, Dean was overwhelmed with commercial, resale, owner occupied, and other business related to, but not on point to Calloway Investments' main business of service to the non-owner occupied market. Dean has now decided to expand his company and focus his energies on these abundant opportunities as a preferred Calloway Investments resource, joining the law firms, insurance companies, mortgage bankers, property managers, and other professionals we are proud to recommend our customers consider when needing the respective services offered.

EstateCom will be stepping in immediately as the exclusive real estate broker for Calloway Investments, Inc. We at Calloway Investments wish Dean the best of luck in all of his future endeavors, and look forward to working closely with him in this new capacity.