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Construction and Real Estate

Appraisers hope for the end of bank-owned AMCs (access required)

In 2009, about two years after the real estate market started its collapse, a new federal law took effect. The federal Home Valuation Code of Conduct was created to reduce conflicts of interest in the process of appraising homes. Real estate agents and brokers were no longer allowed to order appraisals. Lenders were now in control of doing that, and demand for appraisal-management companies shot up.

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Height of the foreclosure fallout (access required)

Foreclosures continued to be a dominant theme in the Charlotte real estate market in 2011. Although Irvine, Calif.-based real estate data tracking firm RealtyTrac has recorded fewer foreclosures in November than October, the final data on the number of homes foreclosed in Mecklenburg County in 2011 hasn’t been compiled yet.

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Commercial plans must be electronic after Jan. 1 (access required)

The City of Charlotte’s Land Development Division is requiring all commercial plans be submitted electronically, effective Jan. 1. According to a blog posting by the Real Estate and Building Industry Coalition in Charlotte, sealed, signed hard copies of plans should be scanned into a PDF format and emailed to ldplans@charlottenc.gov.

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