Fort Mill, Tega Cay, and Lake Wylie Real Estate Outlook

By
Real Estate Agent with First Properites of The Carolinas

Listening to the National Media drone on about how dismal things are in residential housing is enough to make you cry, get a little sick, then cry again.  And, after seeing the California Market first hand last month, it's not pretty.  But, you have to remember that the National numbers are not necessarily an accurate reflection of what's going on right here in Fort Mill, Tega Cay, and Lake Wylie. 

Here's the facts:  The Charlotte Metropolitan Area was one of 3 major cities that actually experienced increased appreciation in 2007 by a little over 4.5%.  The average price for a single family home for January, 2008 was only very slightly down from the same period in Jan 2007 ($218,610 down from $219,270) which represents less than 1 percent.  The number of sales transactions is down and houses are sitting on the market a little longer, but it's no reason to pack your bags and flee for Mexico.  A "slow" market is a relative term.  Yes, we are slower than we were when the whole real estate market was on fire.  What you have to remember is that there is also opportunity out there. 

Remember, the media makes advertising dollars by keeping you glued to the TV set.  Shocking headlines of gloom and doom keep you watching.  Telling you everything is ok does not.  We are definitely feeling the slowdown of tighter lending practices and cooler markets elsewhere.  The thing to keep in mind is that our area did not experience the years of double digit appreciation that they did elsewhere.  In short, we are still very affordable.  Combine that with our reputation for excellent schools, lower taxes, and being a great place to live puts us on the "short list" on many people's list for re-locating. 

Steve Schwartz is a licensed REALTOR in NC and SC specializing in Fort Mill, Tega Cay, Lake Wylie, and Charlotte and the host of over 7 Real Estate websites including his REALTOR websites, http://www.thepurpledog.com/ and http://www.last10sold.com/, and  http://www.charlotteareahomefinder.com/, (for home buyers) and http://www.charlotteareahomevalue.com/, (for home sellers).

Comments (3)

Bill Kennedy
Keller Williams Realty - Greenville, SC
Homes For Sale Greenville SC

Hey Steve,

Welcome to Active Rain!  This is a great forum for sharing and especially for learning.  There are hundreds of great posts on here every day - in fact, it's addicting, and you'll have a hard time logging off each day. 

Again, welcome!  I look forward to many great future posts!

Apr 24, 2008 03:55 PM
Dorene Shirley
The Mortgage & Property Connection - Campbell, CA
Silicon Valley Real Estate

Steve - Welcome to the Rain, make sure that you browse the site and become familiar with everything this site has to offer.  The more you browse the more you will learn.  I have found this site to be really helpful to me.  If you have any questions, please don't hesitate to email me, I will do whatever I can to help.

http://www.doreneshirley.com/

Apr 25, 2008 12:41 AM
Steve Schwartz
First Properites of The Carolinas - Fort Mill, SC

Thank y'all for the welcome!   This is a great community.

Apr 26, 2008 06:42 AM

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