Great Time to Sell in Charlotte NC
I happen to be moving to the one area in the country that saw rising home prices in January, Charlotte, NC.
That is not exactly a good thing for me is I’m looking to buy a home in the area. Charlotte, North Carolina did not benefit from the rapid escalation in home prices during the housing boom but the prices there have gone up. I do see a number of houses on the market in Charlotte, North Carolina that seem to have inflated prices. And as the correction continues to go around the country, I’m going to wait and see a prices cracked in Charlotte before I buy. The last thing I want to do is buy a home in Charlotte only to see 10 to 20% of the value knocked off of it after the fact.
If you read any of the news reports coming out of Charlotte and you believe the realtors Association (which I do not) then you would believe that people are snapping up houses in Charlotte, North Carolina. That could be, but I’m not exactly sure where they’re doing that because I see a lot of houses on the market there that have been sitting there for months. Normally it would be a benefit to have your house sales price holds steady, but given the uncertainty in the market I suspect that there may be many other buyers looking at the Charlotte area and waiting for the correction to actually hit and so the January numbers could actually hurt Charlotte over the next few months as it possibly experiences a delayed curve in the housing correction.
If I am wrong, then this could be an excellent time to sell your house and Charlotte because you may not see that value for a decade.
These may be crazy times in the real estate market, but that doesn’t mean that you have to make crazy decisions. Take your time, figure out what is going on with your own eyes and information, question what you read in the media and look at the sources for those articles and then act when appropriate.
In the meantime, this weekend I’m working on my own house in the Atlanta area. This was another one of those fabled areas it was not supposed to experience any downturn when the real estate correction came. I didn’t trust that either, and I think I was right to not trust that sentiment as I have seen a number of corrections in the Atlanta area. I’ve been sitting on my house all winter and I’ll probably continue to sit on it through the summer before actually list it. If the market doesn’t correct, in interest rates go through the roof because of inflation, then I’ll just rent the house out. The meantime I’m putting some Baldwin knobs on the cabinets to make them look little fancier in case I do sell it.
Sources and Related Stories about Charlotte, NC home price hold out in Real Estate
Real estate in record freefall
London Free Press, Canada - Mar 26, 2008
Only Charlotte, NC, squeaked by as a gainer in the Case-Shiller index, with a 1.8 per cent rise in January compared to a year earlier. …Pro Step Marketing strategy results in new custom website
TransWorldNews (press release), GA - Mar 28, 2008
Pro Step Marketing, a real estate-focused marketing strategy, design and implementation firm, worked with Paul and Karen McPherson of Charlotte, NC to …Singing honors for 2 students
Charlotte Observer, NC - 11 hours ago
Catawba Valley Community College will offer two classes designed to meet annual continuing education requirements for real estate agents. …Forsite Development, Inc., closes on buildings in Gastonia, NC …
Carolina Newswire (press release), NC - Mar 27, 2008
Forsite Development, Inc. (www.forsiteinc.com), based in Charlotte, develops commercial real estate space, both office and industrial, throughout the …First American CoreLogic Releases January 2008 LoanPerformance …
FOXBusiness - Mar 28, 2008
"Twenty-eight states now show year-over-year real estate declines according to this latest LoanPerformance HPI release," said Damien Weldon, vice president, …FAF - OTC:CMTX
SABEW Announces Additional Winners in its 13th Annual Best in …
FOXBusiness - Mar 28, 2008
News-Press: "Southwest Florida real estate sellers beware" — James L. Martin, Erie (Pa.) Times-News: "Made in Mexico" Weekly Publications — Bryant Ruiz …Business Calendar
Winston-Salem Journal, NC - 12 hours ago
The Piedmont Club Real Estate Council meets the second Friday of each month at 11:30 am for lunch at the Piedmont Club, 19th floor of the BB&T Financial …Real Estate Agent Puts Allen Tate on the Map in South Charlotte …
PR Web (press release), WA - Mar 19, 2008
Charlotte, NC (PRWEB) March 17, 2008 — The #1 real estate company in Charlotte finally has a top agent in Steele Creek. Realtor Brian Wade is establishing …More glum housing data
Minneapolis Star Tribune (subscription), MN - Mar 25, 2008
Foreclosures affected about 0.3 percent of the mortgages in the Twin Cities area, said First American CoreLogic Inc., a real estate information and …Local home-price drop 4th-worst in metro survey
San Diego Union Tribune, United States - Mar 26, 2008
Peter Dennehy, senior vice president of the San Diego-based Sullivan Group Real Estate Advisors, said the prices dropped the most in the lowest-priced …
