Charlotte Real Estate is Ranked #3 in the Country….again

Charlotte, NC Real Estate is back at the top of the national real estate market again according to the S&P / Case-Shiller home price index. This measures homes prices in 20 of the nation’s largest Metro areas around the country through December of 2008. Charlotte was at the top of the best markets in the country due to having one of the smallest rates of decline in our property values.

Some of the worst hit sub-markets in Charlotte, which are likely fueling the fact that we have any decline at all, are those in areas that were most similar to other national metro areas now falling at the bottom of this list. For example, Waxhaw Real Estate, just a few years ago, saw phenomenal increases in value which were driven by speculation even more than real value. Today’s buyers, even Luxury Home buyers, are mostly looking for a deal, they aren’t as concerned with the Prestige that comes with a particular zip code. While the markets are slower than normal everywhere, prices aren’t affected like you’d think unless values are being driven by foreclosures or short sale listings.

No matter how good Charlotte Real Estate is doing, inventory is high and so those buyers who aren’t afraid to make a purchase will inevitably get a great deal if they have the right representative. Things are more complicated now than ever and it takes an experienced Charlotte REALTOR who knows where prices have been historically, not just in the last 6 months, to help decipher what the appropriate investment would be. Plus, a lot of the best deals are being sold in foreclosure and pre-foreclosure. These aren’t your typical seller to buyer transactions and its takes more than a typical Charlotte Realtor to get them done right. Especially if you’re looking for a luxury foreclosure, I’ve seen banks concede up to 400k off of what would be a million dollar home. Although rare, it’s possible to find, you just have to know where to look.

If you’re interested in taking advantage of both foreclosure/pre-foreclosure listings AND one of the best markets in the country, give me a call. We have more short sale listings than anyone else in the state, and we have experience in selling every type of foreclosure out there. Happy hunting!

Good Morning Charlotte

What’s new? I went to a mortgage education class last night. I was a guest speaker for a segment regarding….what else? Short Sales. Not as many people came as I had hoped but I feel that a lot of people nearing foreclosure may just be embarrassed to come to a public seminar. To be honest, these guys, like a lot of people, just avoid the problem. So much so that they don’t even want to open mail from their lender, much less go to a conference that would teach them how to deal with it. Plus, the coordinator of the Charlotte mortgage education course is charging $99. per family so I’m sure that is a deterrent as well. I have to say, I don’t think I’d have a job if I had to ask for $99 from my clients! And I’m offering to Short Sale their Charlotte home and help them avoid foreclosure! People just don’t trust other people like that, especially when the only influence is a postcard and thier getting like 5 postcards a day! Still, the Charlotte event coordinator is trying and I am hoping for the best. As you know, I have one of the largest inventories of Short sale listings in Charlotte, if you’re interested, check out my site at http://www.lambrealtors.com and click on the foreclosure Link on the homepage.