No Luck Finding A Charlotte Foreclosure Or Short Sale? Here's Why...

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC

 

Foreclosure and short sales as a percentage of total home sales in the Charlotte, North Carolina region remained very low at 1.3% of total sales in March 2018, down from 2% in February 2018 and down 0.5% compared with March 2017. Closed lender mediated sales for the 12 month period ending March 2018 were just 1.6% of total Charlotte region home sales.

 

If you've been searching for a distressed property bargain in the Charlotte metro area and not finding one, here's why:

                                          

  • Foreclosure sales were down 27.3% in March 2018 compared with March 2017.
                                                                                                                  
  • Short sales were down 65.5% in March 2018 compared with March 2017.

  • Inventory of foreclosure and short sale properties stood at 1% of total number of homes for sale in the Charlotte region.

  • Average selling price for a distressed property for the 12 months ending March 2018 was up 17.4% compared with just 4.7% for non-distressed  sales.
      

 

 

MARCH 2018 SHARE OF DISTRESSED PROPERTY SALES IN THE CHARLOTTE REGION

 

Foreclosure and Short Sales In Charlotte Region March 2018

 

Want to stay on top of foreclosure and short sale home listings in the Charlotte metro area?

  

Check out Carolinas Realty Partners' website to search foreclosure and short sale property listings in the Charlotte area.

 

This update on distressed property sales in the Charlotte region is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants. 

 

If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

  

 

 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Topic:
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Charlotte NC Real Estate
Market Reports
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2017 Market Trend Reports
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Tags:
foreclosures
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Rainmaker
3,638,720
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

It is good to hear that these numbers are way down, thanks to a better job market.  A

Apr 15, 2018 09:10 AM #1
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel ~ hi Alexandra and Ron... our percentage of distressed properties sold has been mostly at 2% or less in the Charlotte region for several years now. Then again, we were not hit as badly as many other parts of the country were because ours is not a speculative market on the whole.

Apr 15, 2018 09:17 AM #2
Rainmaker
4,502,322
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

I suspect that your local real estate investors are wishing for a larger selection of foreclosures.

Apr 15, 2018 09:28 AM #3
Rainmaker
2,828,780
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Nina - this post offers a lot of insight into your local market.

Apr 15, 2018 09:31 AM #4
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ hi Roy... the investors have become very gun shy... home prices are not letting their numbers pencil out.

Apr 15, 2018 10:05 AM #5
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Michael Jacobs ~ hi Michael... it's amazing that whenever I get calls from new prospective buyers who have a more limited budget and tell them our market is tight that they immediately respond with "we'll consider a foreclosure or short sale bargain." What foreclosure or short sale bargain? is my response.

Apr 15, 2018 10:07 AM #6
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- great information to provide for buyers in your area. There are many investors who will welcome this information, even though the pool is lower. 

Apr 15, 2018 10:41 AM #7
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kathy Streib ~ hi Kathy, thanks for popping by. Trust you've been enjoying your weekend!

Apr 15, 2018 11:08 AM #8
Rainmaker
3,511,980
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

This sounds a lot like my market.  Not many homes for flipping also

Apr 15, 2018 12:04 PM #9
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

William Feela ~ I pay no attention to the flipping market... just no my wheelhouse, as they say. But with the dearth of affordable homes, there isn't much for flippers to get excited about right now.

Apr 15, 2018 12:07 PM #10
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Nina

That's all pretty good news, even though some buyers seem to want to buy these homes, thinking they can get a great deal, and we of course know that is just not the reality. It's important for buyers to know the facts about the market.

Jeff

Apr 15, 2018 12:50 PM #11
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeff Dowler, CRS ~ hi Jeff... always amazes me how many people think that distressed properties still sell at a steep discount.

Apr 15, 2018 01:12 PM #12
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I am surprised that our short sale and foreclosure statistics are so low after being almost half of our inventory at one point Nina Hollander 

Apr 15, 2018 02:11 PM #13
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ 50% is amazing, Paul... we were never near that number. We had pockets of Charlotte that were close to 30% of sales, but in many areas under 15%.

Apr 15, 2018 02:24 PM #14
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina our number of foreclosures and short sales have gone down, but Buyers can still find them fairly easy here.

Apr 15, 2018 04:57 PM #15
Rainmaker
2,420,850
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Great news for the Charolotte market Nina Hollander .  Short sales and foreclosures are all but not to be found in my market either!

Apr 15, 2018 05:07 PM #16
Rainmaker
2,636,892
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina, yes it looks very similar to my market...looking for a Short Sale or a Foreclosure in my market is like looking for a needle in a haystack... and like William Feela   said...when I go with my buyers looking for a flip property we run into the same six or eight buyers....Endre

Apr 15, 2018 06:12 PM #17
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. ~ hi Endre... I've noticed that where we have "more" foreclosure properties they are at the top end of our market and not really the kind of thing flippers or investors look for.

Apr 16, 2018 03:56 AM #18
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lisa Von Domek ~ good morning, Lisa... compared with much of the rest of the country we didn't have as many distressed/lender mediated sales as other similar sized metro areas, but what was there has essentially disappeared and pretty much disappeared a good two to three years ago.

Apr 16, 2018 03:57 AM #19
Rainmaker
2,306,555
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George, glad to hear your trends for lender mediated sales are down... but do wish you could send a few my way... I could probably find some buyers for them!

Apr 16, 2018 03:58 AM #20
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