Historically, Charlotte NC real estate has not followed market trends as closely as other cities in the U.S. primarily due to our constant influx of banking transferrees and many other Fortune 500 Companies (we have over 300 represented right here in Charlotte). Charlotte NC real estate has not experienced quite the problems that other cities have in the recent past or are currently experiencing. This could very well be as a result our conservative rate of appreciation in recent years, not giving rise to the 'bubble' effect, thus we have no 'bubble' to burst!
Charlotte, known as The Queen City, has been extremely popular due to economic growth and job growth. Charlotte Chamber of Commerce VP of research, Tony Crumbley, feels that it is 'fact that we are creating jobs and our quality of life' are other draws to our beautiful city. The fact that our region enjoys a full four-seasons is also a big draw to the Queen City.
Charlotte's newcomers have reached about 80,000 per year!
Charlotte homes are being listed for slightly extended periods of time and Charlotte Buyers are finding GREAT buys on resales and even getting a break on new construction (which has not been seen the past 20 years in Charlotte)! Not only do Charlotte NC real estate buyers have the selection of a lifetime, but, mortgage rates remain at 40-year lows!
I am very bullish for 2010 for buyers and absorption within the Charlotte NC real estate market!
Buyers, motivated by price, will continue buying (with encouragement from the federal tax credit extension); homes continue to sell at approximately 96+% of list price across the Charlotte area, both in new construction and resales.- The investors who bought (and continue to buy) will win in the short and long terms. They are finding tenants who have lost homes to short sales and foreclosures and continue to secure positive cash flow.
- Those who have lost their homes as a result of the sub-prime crisis, have to have a place to stay, so I expect more investors to purchase these short sales and foreclosed homes as long-term investments, utilizing the cash flow to continue to build their real estate portfolio.
- Sellers have already seen that their homes need to be marketed in tip-top shape--Sellers simply must use a Realtor® who offers full-service and will be attentive to their needs. Listed homes must be well-maintained, in mint showing condition, allow ALL potential Buyers to see their property (WHEN the Buyer wants to see it!), have a listing agent who provides follow-up for each and every showing, and must be PRICED RIGHT. Average days on the market have risen but, are leveling off here in late 2009. I think that those Sellers who have been on the market for awhile need to step back and 'diagnose' the problem--chances are, they're overpriced!
So, if you're interested in previewing homes for sale in the Charlotte area or a complimentary market analysis on your property or one that you may be interested in purchasing, email Debe@DebeMaxwell.com. View ALL Charlotte listings that are currently available at www.SoldByDebe.com and get in on the BUYER'S ACTION IN CHARLOTTE NC NOW !
(THE best Charlotte home search available - no kidding!)
Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
Debe what a great report. Yes avoiding the bubble was a good thing. I hear Charlotte is a wonderful city,I have only passed through the airport.
Have a great year finding and selling homes for all those bank employees, your area is certainly a financial hub.
Debe! Like Charlotte, St Joseph has not experienced the "Bubble Burst" like some cities. The key factors you pointed out should be repeated "Pricing and Tip Top Shape" are a key factor in selling your home.
Real Estate practitioners are fortunate to be located in areas of growth.
Things are going very well for you Debe in Charlotte. I love GROWTH and possibilities. It makes our lives much easier.
Debe, I know Charlotte is growing well, we have so many people from here that speak of moving there. It's much milder climate and low taxes certainly play a big role. I am waiting to visit and see it myself, an old friend just mentioned that he used to live there and loved it!
Great post Debe and it shows why people should be realistic in your market. I wish we were back in a growth mode, but it will be a while.
Sounds like Charlotte is poised to lead the way in 2010. 96% is a nice list to sell ratio. It shows sellers and buyers are realistic!
Debe...thanks for your information about Charlotte...We have friends who reside there...He was former President of the Board for Charlotte Christian School and now serves as CFO for Forest Hills...I've met many people who are part of the banking industry there...
How fortunate you are to live in an area that is experiencing growth, Debe! This is critical information for relocating consumers who may be coming from a completely different reality - they will have to adjust their mindset to buy in Charlotte.
Sounds like a must visit city for 2010.
Hi Debe...Looks like your market is fairly stable and you're ready to hit the ground running, having said that ...Did you slow down from 2009 ?
If there is one questions a seller asks me that will assure a sale..it Correct Pricing. Any Seller in Charlottee should talk to a busy and successful Realtor like yourself to get their home priced right to Sell.
HAVE YOUR BEST YEAR EVER IN 2010
You always do such a great job on your Blogs. Thanks for the info.
Bonner