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!

Cabarrus County Real Estate expected to rise

Recently, a Bank of America official was quoted as saying that the Charlotte, NC suburb counties of Cabarrus and Iredell were expected to experience real estate growth over the next 5 years, despite the economic downturn. Cabarrus County real estate actually leads the Charlotte NC Real Estate market in growth expectations with anticipated expansion of as much as 18% by 2013.

With real estate in the region at it’s lowest prices in years, NOW is the time to buy. I know we’ve been saying this for 18 months now, I even bought a house myself last year but we were wrong then, it did get a little worse because of economic downturns that no one expected. Regardless of where the overall economy stands right now, from what we see happening “on the ground” The time to buy is now.

As professionals in the Concord real estate market, we’re seeing earlier than usual increases in buyer activity during the first quarter of 2009 so it’s obvious that things are picking back up. The market can only go up from here and pretty soon, the short sales in Charlotte NC and all of the foreclosures will dry up. This will leave typical homeowners with more options and their asking prices will inevitably increase.

We actually list more short sales listings than anyone else in Charlotte NC Real Estate and even OUR game plan is changing due to the changing market. Next month, we’ll be launching our new website, MetrolinaEstates.com. This is a marketing tool designed to showcase high-end property (over $500k) in a way that I’ve never seen before. We’re giving our clients 7 pages of pictures and data to advertise their estate sized luxury homes for sale in a way that truly shows off the details which buyers are paying for.

We’re not just doing Luxury Homes in Cabarrus County, our focus is on Iredell and the rest of Charlotte, too. Charlotte Real Estate has always been the foundation of our business and Iredell real estate is expected to rise by 17 percent, which is well above other Charlotte suburbs like Rowan or Gaston who are only expecting increases of 6-7% each. More to come on this and other issues, the phone is ringing off the hook and I have to run!