You get home from work and walk through the door and set your lunch box down on the counter and hand out your daily hugs. You then help prepare dinner and either sit down for a formal family dinner or you sit down in front of the television. You then snap on the news and hear about all the bad things going on in the world economy. You will also hear about home sales and how poorly the nations housing market is doing. Well, you shouldnt always believe what you see and hear. Many of the news broadcasts are based on national statistics and the places that are experiencing a poor market tend to be the focus of those statistics.
The truth is that Real Estate Sales in Charlotte’s MLS areas is doing pretty well. Sales are increasing, new listings come on board everyday and though there are fewer buyers than there were a few years ago, more and more potential buyers are continuing to explore homeownership. It is true that the loan guidelines are more strict on who they hand loans out to, but you really never know until you try. If you have solid employment, a little bit of savings, no red flags on your credit, and no large overbearing debt, you really have a great chance at receiving a favorable loan.
It seems the problem these days is that buyers are scared. They want to wait for the market to improve a bit more. They don’t want to move into an area where there may be a lot of foreclosures pending or processed due to decreased home values. I think if you are a solid potential buyer that is interested in owning your own home, now is the time to look into it…Seriously. Why? Well, it is a major buyer’s market right now. There are more homes for sale than there are buyers purchasing them. This won’t last forever. Some reports have even said there will be a housing shortage in the near future. The home prices are the lowest they have been in a decade, the mortgage rates are still very low. Sellers are currently more willing to negotiate in order to get a sale, and buying a home is often times cheaper than renting.
One of the things I tell people concerned about selling their homes in this lower priced market is that, the market will continue to turn around. You will begin to see interest rates begin to rise and home prices begin to rise. So if you sell your home for lower than what you perhaps would like, you need to remember that when you buy a new home, you are most likely paying far less than what that seller would like. So in the end you make up for it on the other end of the spectrum.
Here are some figures that I looked at recently about Charlotte’s MLS coverage area. With all the homes including those currently under some kind of contract there are 22,337 in Charlotte’s MLS. Out of that there are 2714 closings that are Pending. There are 853 homes that have an active due diligence period. There are 579 homes that are under a conditional contract and 107 homes that are under a contingent contract. With all the homes included that are under some kind of contract or are pending there are 4256 properties. So you can see there is activity happening in and around the Charlotte, North Carolina Real Estate scene…
If you are up in the air about buying or selling property and are unsure about the right time…Give me a call @ 704-619-1008 and we can discuss when the right time would be for you.
Tim Brown,Owner/Broker, Realtor®,
ABR,CRS,CDPE®, Auctioneer NCAL#8560
Hines & Associates Realty
Direct Line: 704-619-1008
Client Care Line: 704-815-3208
Tim Brown is a Owner/Broker, Realtor®, ABR,CRS,CDPE®, Auctioneer NCAL#8560 with Hines & Associates Realty. He currently serves buyers and sellers in Charlotte, Mecklenburgh, Cabarrus, Cornelius, Huntersville, and other surrounding communities in North Carolina. Charlotte Real Estate, Charlotte Homes for Sale