Two townhomes under contract this month so far. Both are for first time home buyers. That is really who is buying right now. A lot of first time home buyers are trying to get into contracts so that they can close by December 1st and receive the $8,000 tax credit. You must stay in the house for 3 years to receive the entire tax credit.
Both of these townhomes will be great for first time home buyers. Both communities are located in south Charlotte and these buyers took advantage of the low market prices and low interest rates. There are a lot of nice townhome/condos available in south Charlotte for under $120K and they are starting to receive more showings as we are getting close to the tax credit deadline.
Buyer activity is increasing but not much is selling over $250,000. Sale price to list price has dropped in the last year and the list prices have also been decreasing the last 12 months. This time last year the sale/list price was about 95% and this year it is 91%. This is proof that sellers are willing to negotiate to sale their properties even after they have priced their houses competitively. Only the houses that are in great showing shape and that are priced right are moving.
If you are a first time home buyer you should be under contract by the first of November if you want to close in time to receive the tax credit. Let you agent know that there is certain verbiage that needs to be in the contract so that if you are unable to close before Dec. 1st to receive your tax credit that you will have the option of backing out of the deal.
MLS# 862851 Listed at $119,500 MLS# 862837 Listed at $95,000
Both are pending closing.
Find more listings like these by searching the MLS through my website. www.showcasecharlotte.com
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