lake norman real estate market advice: Lake Norman Real Estate: A Reality Check
- 11/29/08 11:50 PM
The other day I asked my broker/owner of RE/MAX at the Lake exactly what was selling right now. Her answer? "Bargains." Getting her insight based upon the business of 70 agents further underscored my own feeling that the Lake Norman real estate market is much weaker than most sellers and even local Realtors grasp.
Important Signals from the Current Lake Norman Housing Market:
There are too many active listings in the Lake Norman area: We currently have 1623 active listings for sale in the Lake Norman area in our MLS. Based upon the current rate of sales this equals a 20.8 … (0 comments)
Today The Charlotte Observer ran yet another front-page article about our housing market "Home prices soften anew....Sales and building permits also fall, but the Charlotte market is still healthier than many in the U.S." It's not a bad article. It even breaks down the sales % decline and building permit % decline by county. However, I can't stress enough the importance of every home buyer asking their real estate agents to do comprehensive research about the specific listing (and even subdivision if feasible) before they make an offer on a home. Think of it as a background check of the home and its Lake Norman housing community. … (6 comments)
When I look at this picture I feel this huge rush of fear go through me; an avid rock climber would probably feel excitement and a proud father might see a strong young man. My point being that every single person that sees this picture will have a unique perspective. The same is exactly true about our national economy AND the Lake Norman real estate market. The news this morning of the dramatic drop in jobs last month is one more argument for the "R" word...recession. The truth is, we will probably hear pundits reactions for the rest of the day and each will have a slightly … (10 comments)
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