Tag Archives for " Charlotte Housing Market "

May 2017 Housing Highlights for Charlotte NC

Charlotte NC Real Estate

Existing Home Sales
May 2017
Image Source: NCRealtors.org

With the busy summer months in full swing, the housing market in Charlotte, NC remains active for prospective buyers and eager sellers. Now is the time to act! Housing affordability might become problematic as the year progresses, impacted by the low inventory of available homes for sale, with the possibility of the Federal Reserve hiking the interest rates. So, if you are looking at buying or selling a Charlotte home, here are the housing highlights from May 2017 that you won’t want to miss:

  • Homes are seeing fewer days on the market. This is good news for Charlotte buyers and sellers! Since 2011, numbers of days a home is on the market has declined. Today, the average length of time a home for sale is on the market is now at 52 days. This is lower than in April when it was at 56 days and even lower than a year ago when it was at 63 days making it close to the record lows seen in 2004.
  • Lower median sale prices. Homes in Charlotte sold at an average of $274,957, down slightly from April’s figure of $275,490. Year over year totals are still up at 6.6% and the annual average is at 8.6%.
  • Closed sales are rising. While figures are down .3% for year over year totals, they have increased to 7% for year-to-date for homes that sold in Charlotte and its suburbs.
  • An increase in pending sales. In both the year over year and year-to-date figures, pending sales have steadily increased. Year over year, they are up to 16.6%, and up to 8.1% year-to-date.
  • Low housing supply for higher demands. Anything less than a 6 month supply of homes tends to make it easier for sellers but drives up the competition with buyers. In Charlotte, the average was 2.5 months; from down 26.5% of the year over year figure 3.4 months making it close to lows experienced all the way back in 2005.

Are You Buying or Selling a Charlotte, NC Home?

Now is the best time to make your move. The rate for a 30 year mortgage is now the lowest it has been in 7 months it is at 3.90% according to Freddie Mac. Turn to the expertise of Showcase Realty so you can buy or sell a Charlotte home without delay! To get started, contact our team at 704-997-3794 or send us a message here.

 

How is the Housing Market Affected by the Presidential Election?

How is the Housing Market Affected by the Presidential Election?

When a presidential election is in our midst, many wonder how it will affect the national housing market. The New York Times put out an article discussing the topic, and explained that in the midst of an election research shows that uncertain times tend to paralyze the housing market. In the last few elections big corporate investments where put on hold and major deals were set to the side. It is during the final year of an eight-year term when these trends are even more likely.

The latest economic numbers may suggest this to be true, but will the housing market also slow down? Fannie Mae, Freddie Macor and the National Association of Realtors say no.

The Year 2016 and its Impact on the Housing Market:

Here is what these three major companies in real estate had to say on the topic:

National Association of Realtors (NAR):
“In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007.”

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Fannie Mae:
“Consumers and businesses showed caution at the end of the first quarter…(but) home sales are expected to pick up heading into the spring season amid the backdrop of declining mortgage rates, rising pending home sales and purchase mortgage applications, and continued easing of lending standards on residential mortgage loans.”

Freddie Mac:
Recent data darkened the growth outlook for the first quarter of 2016. However, despite the disappointing economic reports, we still forecast housing to maintain its momentum in 2016.”

Bottom Line

It is inevitable that in times of uncertainty there will be various challenges in the housing market; however, the desire for the American Dream is still stronger than the fear of the unknown.

Wondering if buying a home is a good move for you? Don’t miss out on some helpful information in our blog focused on why homeownership is the best investment!

We would love to be a part of your home buying process. If you’re in the Charlotte area, be sure to browse our homes for sale in Charlotte, NC to get you started on the right track. Want to talk to us personally? Call us at 704.997.3794 to speak with one of our qualified professionals today!

Buy your home in the Carolinas with Showcase Realty. If you are not happy with your new home, we will sell it for FREE! Details Here!

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May 28, 2016

Foreclosure Trends Bowing Out of the Housing Market

Foreclosure Trends Bowing Out of the Housing Market

There has been a lot of discussion recently about foreclosure inventory in the nation, with some speculating that inventory is about to increase dramatically. Today we’re going to look at what is actually going on in this division of the housing market.

In their recent National Foreclosure Report, Corelogic explained that foreclosure inventory has actually seen a decline of approximately 23.2% since last year at this time. The report also stated that in 49 of 50 states there have been significant foreclosure declines with 45 of the states having double-digit decreases posted year-over-year. The following chart illustrates the trends:

Foreclosure Trends Bowing Out of the Housing Market

More findings in the report show that:

  • The number of homeowners who are more than 90 days behind for mortgage payments (also known as Seriously Delinquent Rate) was 3.1%; this is the lowest percentage since November 2007
  • Foreclosure rates are sitting at 1.1%; a number lower that it has been since November 2007
  • Foreclosure Rate have been in decline for 53 consecutive months

Bottom Line

While foreclosure properties still have a presence in the housing market, their numbers are decreasing dramatically. With mortgage delinquency rates also decreasing, it is not wrong to assume that the foreclosure crisis has reached a peak and is now on its way out.

With foreclosures becoming less imminent, you may be thinking about buying in the current housing market. If you are eager to own your home but still aren’t sure about which road to take, feel free to browse our article on Renting vs. Buying to get some fresh insight.

Want to talk with one of our real estate professionals? We’d love to help you! Feel free to give us a call at 704.997.3794 to have any of your real estate questions answered, or send us a message here.

Buy your home in the Carolinas with Showcase Realty. If you are not happy with your new home, we will sell it for FREE! Details Here!

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May 17, 2016

13 Reasons You Should Not Sell Without A Real Estate Professional’s Help

13 Reasons You Should Not Sell Without Help

If you’re considering selling your home without a real estate professional, you may be doing this to try and save some money in your budget. While some people choose to sell on their own, the number of people doing this is in decline. According to survey by the National Association of REALTORS®(NAR), approximately 8% of home sellers list on their own resulting in a record-low numbers.

Why is selling on your own a bad idea? Read on:

1. Your emotions will affect the process
Home selling is a very emotional experience, and this is one of the biggest reasons homeowners should hire a real estate agent. It is possible that buyers will present low offers, disagree with your style or see less value. Will you be able to remain professional throughout, regardless of their opinions? Real estate agents are very helpful for these types of situations.

2. Bias Opinion of the Home
Your home may look comfortable and well-decorated to you, but a home that looks lived-in is not what a buyer is looking for. Aside from cleaning the house, you should also get rid of clutter and de-personalize that home as well. A real estate professional will have a helpful outside eye that can give you tips on what to keep and what to put away.

3. Lack of attention to problems in the home
Not only should you home look good, but it should smell good as well. After living in your home for so long you may not notice unpleasant smells that you’re accustomed to, but you will certainly need to take care of these problems. A buyer does not want to smell pets, molds or musty smells (which could point them to water damage). Have an agent help you confront these problems and have the, cleared to make your house look and smell good.

13 Reasons You Should Not Sell Without A Real Estate Professional's Help

4. Your décor is outdated
Having an outdated home may not only slow your selling success but bring it to a halt altogether. Even the smallest updates in the kitchen and bathroom can make a huge change, so consider investing a small amount in these rooms and have your agent help you to point out possible upgrades to consider.

Listing without any updates just to save a few dollars may really hurt your home sale in the end.

5. You have a view of the busy freeway
Does your home get a lot of unwanted noise from the nearby freeway? An eyesore like a busy freeway or train track may be deal breakers for buyers, but a real estate agent may think of ways to solve the situation that you never thought of. They may use smart pricing strategies, design ideas or focus attention to other areas that will help you sell faster.

6. You do not have a large network
This is one of the biggest benefits of having a realtor; they will have a much larger network that allows them to reach more buyers and potential visitors who might want to see the home. Having these connections is extremely important; if you need contractors, painters or other professionals to help with the home before a sale, and agent can certainly help with that as well.

7. Your dream selling price is too high
You may have to lower your asking price by $20K, and then lower it by another $10K before its close enough to its actual value. This is another emotional issue for home sellers; while you may think the home is worth much more, market value is market value. A real estate professional will give you an honest valuation of your home and they will have a much easier time sticking to that value.

8. You see your home differently than buyers
You might think your home is charming and rustic, but buyers may see it as small and outdated. A realtor will have an eye for this and be able to help you update the possible issues.

9. You don’t know what moves to make
What if you get an offer that’s $30,000 below your asking price? Would you know how to proceed? What if you ask for a higher price and the buyer goes with another home? A realtor can help you make smart decisions and deal with potential buyers effectively.

10. You might not negotiate very well
This is where a real estate professional comes in handy, since this is a part of their job every single day. Homeowner’s may not consider that they will have to negotiate with potential buyers, and that buyers may make demands that they’re not ready to meet. An agent will take care of all of these problems and more- and it will be well worth the commission you pay.

13 Reasons You Should Not Sell Without A Real Estate Professional's Help

11. Your yard is a mess

The first thing potential buyers will see of your home is the front exterior, and this curb appeal will help get your home sold quickly. A realtor will help you with simple, cost-friendly changes to update the exterior look to bring in more viewers instead of scaring them away.

12. The Seller
As a home seller, YOU are the main reason your home will be sold. Your decisions and approach to selling will determine whether you get potential buyers and whether you sell your home successfully. If you pester buyers during their viewings, you may turn them off to go somewhere else.

To ensure you make good decisions that result in a sell, rely on your agent to take care of buyers and to inform them of all of the details in the home. If you are pestering buyers during the viewings, they may not want to deal with you during the rest of the process.

13. The Money
The NAR reported that homes that were sold by the owner made less money overall. In the year 2015, FSBO (For Sale by Owner) homes had a median selling price of $210,000, and went as low as $151,900 if the buyer knew the seller. In comparison, homes sold by agents had a median selling price of $249,000, which is $40,000 higher for a typical home sale.

Home selling can be a very exciting experience, but it can also be overwhelming if you don’t know what you’re doing! At Showcase Realty, we’re happy to extend our experience in real estate to help you find success in your home selling journey. Contact us here!

Want to get started now? Ensure your price is accurate. Questions? Call us today today speak with one of our qualified real estate professionals at 704.997.3794.

Are you hoping to sell your home fast and in a less amount of hassle? You need Showcase Realty’s help!Your home will sell in 120 days or I will pay you $2500! Details Here!

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April 25, 2016

Moving to Charlotte: Every Home Buyer Should Know This!

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Charlotte has been recognized in a recent survey by Urban Land Institute and PwC as the 3rd best real estate market in America.

Charlotte qualified due to its thriving economy, the growing population and increasing construction developments.

A few factors contributing to Charlotte's high ranking include:

* New developments at the Southend and Uptown areas


* Plans for a $600 million Hard Rock Casino


* Plans for a $350 million film studio

Moving to Charlotte: Every Home Buyer Should Know This, homes for sale in Charlotte NC, NC Realtors, Showcase Realty, Home Investment, Home Buying

A report from ULI explained that increased job opportunities, population growth and the development of urban centers are intriguing more residents to settle down in Charlotte. Those interviewed felt positive about the real estate market in Charlotte, but did show some concern that the financial service industry may not be able to offer the same growth in comparison to technology-oriented markets.

Other top rankings include:

Rank #1: Dallas
Rank #2: Austin
Rank #3: Charlotte
Rank #5: Atlanta
Rank #7: Nashville
Rank #11: Raleigh

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The survey made by ULI further expressed the potential of thriving secondary real estate markets like that of Charlotte, and encourages investors to consider areas like Charlotte over larger markets like New York and Chicago. Here they may find more value in their investments due to a lower cost of living and the potential for large growth in the coming years.

Charlotte boasts great potential not only for investors but for homeowner's as well. Both parties will find that the growing area offers lots of opportunities to find home's at a fair price and high value.

To learn more about why you should invest in your dream home today, be sure to check out 2 Reasons That You Shouldn't Wait To Move Up! And don't miss out on the opportunity for Down payment assistance!

Want to speak with us? We would love to hear from you! Please call 704.997.3794. You may also send us a message here and connect with us.

If you are thinking of buying a home in North and South Carolina check out our Exclusive VIP Buyer Satisfaction Guarantee!

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April 25, 2016

They Tried to Sell Their Home for 2.6 Years With NO Luck. Showcase Put it Under Contract in 1 Month! Here’s How We Did It

home selling

Showcase Realty likes to stand out from the rest of the crowd.

The sellers at this home had their home on the market for 2.6 years with different real estate professionals. They had relocated to the beach and were waiting for their home to sell so they could finally start building their dream home. They were incurring approximately $3500 a month in carrying costs month after month.

When I viewed this home, I fell in love! It had a fabulous floor plan and its own dock on a private cove and in a quiet cul-de-sac. The home was well cared for but could use a little updating. I suggested getting the home professionally cleaned, windows cleaned in and out and painting the interior a neutral color. What a difference this meant!

They Tried to Sell Their Home for 2.6 Years With NO Luck. Showcase Put it Under Contract in 1 Month! Here's How We Did It
They Tried to Sell Their Home for 2.6 Years With NO Luck. Showcase Put it Under Contract in 1 Month! Here's How We Did It
They Tried to Sell Their Home for 2.6 Years With NO Luck. Showcase Put it Under Contract in 1 Month! Here's How We Did It
They Tried to Sell Their Home for 2.6 Years With NO Luck. Showcase Put it Under Contract in 1 Month! Here's How We Did It

The sellers told me that I was the first real estate professional to make these recommendations. That did the trick and we went under contract in nearly 1 month! Now this lovely family, whom I now call friends, are moving forward with building their home on the beach. They have also recommended me to one of their friends and now we have their home on the market.

If you are ready to sell your home, contact our team today and start packing. We have over 20,000 buyers in our system waiting to buy your home! 

Call us today at 704-997-3794 or send us a message here.

Sell your home with Showcase Realty. Your home will sell in 120 days or I will pay you $2500! Details here!

April 25, 2016

Charlotte’s Top 10 Locations to Live In

charlotte nc

Charlotte is a beautiful city, noted for its historic charm and laid-back atmosphere. This is a great place to invest in a property and start a family. You may want to be one of the homeowners of the gorgeous properties at these Top 10 Location in Charlotte, NC best to live in:

Over time Charlotte has become one of the largest cities in the United States. Regardless of its recent growth, Charlotte remains a place of history and boasts a “streetcar-era” style. Vintage factories can be seen in the South end and colonial-style houses are statement landmarks in the area. The area boasts a nice blend of past and present, with a large mix of working and upper class citizens.

Check out 10 of the best listed homes in the city of Charlotte:

eastover#1 Eastover
Eastover is a very sought-after community in Charlotte. The area is known to be peaceful and laid back, attracting a lot of new families.

With its rich past, this area has been ranked in the No.1 livable place with a score of 87.

Specs:

* 97 % graduation rate for high school
* Crime rate is 59% lower than the average in Charlotte
* Average income per household is $221K
* Cost of living is 93% higher than the average in Charlotte

Commonwealth#2 Commonwealth

This area is known as the “Downtown Plaza Midwood”, and it boasts a lot of new properties for those looking for a newer property. Potential buyers have their fair share of places to consider including modern flats, traditional townhomes and historic homes.

Livability score: 86%
Ranks: #2 in Charlotte
Ranks: #4 in North Carolina
* 100% high school graduation rate
* Has a 59% lower crime rate than the average in Charlotte
* 60% higher income than the average in Charlotte
* Household median is set to $84,000
* Home prices are somewhat higher than the average in Charlotte at $279,000
* Cost of living is 13% higher than the average in Charlotte

Barclay Downs#3 Barclay Downs

Located in an area known for its live/work communities, South Park of Charlotte is a great place to set roots. This area includes Piedmont Row, The Colony and South Park Mall. The area also features key amenities like specialty retail shopping, awarded public schools, regional libraries and more.

Livability score: 86%
Rank: #3 in Charlotte
Rank: #5 in North Carolina
* Has 99% graduation rate for High School
* Average income is 73% higher than the average in Charlotte
* Median household income falls $91,000
* Price: $493,000
* Cost of living in the area is 39% higher than the average in Charlotte

Dilworth#4 Dilworth

Known for its impressive churches, oldest streetcar suburb, rebuilt bungalows, renovated historic homes and majestic parks. Most homes were converted into trendy shops, restaurants, galleries, pubs and unique office spaces. Homeowners who are looking for something with unique characteristics will certainly find something here.

Livability Score: 86%
* 94% Graduation Rate for High School
* Area has an average income that is 73% higher than the average in Charlotte
* Median household income sits at $84,000
* Home prices average $452,000
* Cost of living is 33% higher than the average in Charlotte

myers park#5 Myers Park

This garden suburb was created by Architect John Nolen as requested and is now Charlotte’s most beautiful community. It’s also known to be the most reputable and affluent neighborhood in Charlotte.

Livability Score: 85%
*99% Graduation Rate for High School
* Average income is 131% higher than the average in Charlotte
* Median household income averages $122,000
* Homes are priced at $723,000 on average
* Cost of living is 68% higher than Charlotte average

Fourth Ward#6 Fourth Ward

Fourth Ward boomed in the mid-1800s, when St. Peters Episcopal Methodist, First Methodist and First Presbyterian were constructed. The area is a beautiful blend of historic, traditional homes and modern luxuries, parks and businesses.

Homeowners who are looking for a nice blend of past and present will certainly find a unique property to settle here.

Livability Score: 85%
* 95% graduation rate for high school
* Average Income is 42% higher than average Charlotte income
* Median household income is $75,000
*Home prices sit at $269,000 on average
*Cost of living is $13% higher than average in Charlotte

Foxcroft#7 Foxcroft

Foxcroft is very desirable amongst the other Charlotte areas. It offers stunning landscaping, unique large lots and mature trees.

Those who are looking for a well-developed area will appreciate this community and its natural elements.

Livability Score: 85%
* 96% graduation rate for high school
* Average income is 144% higher than average
* Median household income is $129,000
* Home price average sits at $677,000
* Cost of living is 61% higher than the average in Charlotte

Plaza Midwood#8 Plaza Midwood

A hip and urban area that is rich with history, potential homeowners who are looking for an eclectic area will certainly appreciate Plaza Midwood. History buffs will love the Van Landingham Estate and The Charlotte Country Club, and there are lots of galleries, art stores and unique shops for everyone to enjoy. 

Livability Score: 85%
* 93% graduation rate for high school
* Income average is 57% than average
* Median household income is $83,000
* Homes priced at an average of $300,000

Ballantyne East#9 Ballantyne East

Currently home to various Fortune 500 companies, Ballantyne East is beginning to boom with business. The area is now home to a lot of high-end restaurants and amenities, and various desirable subdivisions are on the rise.

Livability Score: 85%
*
99% Graduation rate for High school
* Average income is 102% higher than the Charlotte average
* Median household sits at $107,000
* Homes priced at an average of $450,000

Wessex Square#10 Wessex Square

Known as the “South Charlotte”, this is the perfect place for those who are looking for something that is well-developed and has some old-world charm.

Lots of large properties for growing families, active kids and pets.

Livability Score: 85%
* 99% Graduation rate for High school
* Income rate is 67% higher than Charlotte average
* Median household income sits at $91,000 annually
* Home prices average $252,000
* Cost of living rate is 43% higher than the average in Charlotte

Are you thinking of buying a property in Charlotte, North Carolina?  Consider these top 10 communities that offer something for everyone! Start your journey today we’d love to help you! Give us a call at 704.997.3794. Send us a message here and connect with us!

If you’re thinking of waiting to buy, check out these 2 Reasons That You Shouldn’t Wait To Move Up and buy your dream house today!

Buy your home with Showcase Realty and if you are not happy with your new home, we will sell it for FREE! Details Here!

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February 11, 2015

Boomerang Buyers Return to Charlotte Housing Market

Boomerang Buyers Return to Charlotte Housing Market

 

Charlotte is among the 22 metropolitan areas with more than 250,000 residents that will probably experience a return to the housing market by those people who left their homes due to foreclosure during the housing crisis.

Based on RealtyTrac, the Charlotte-Concord-Gastonia areas currently have top three conditions, which are sure to tempt these boomerang buyers. These conditions include a high percentage of housing units lost because of foreclosure, affordable home prices suitable for median income earners, as well as the steady or increasing population of Generation X, individuals born from 1965 to 1976, along with baby boomers, those born between 1945 and 1964.

The data analytics firm believes that these two generations are highly likely to re-enter the housing market especially now that the first batch of homeowners who lost their home to foreclosure or short sale during the housing bust have passed the conventional seven-year window necessary to fix their credit and be qualified to apply for a mortgage.

The number of these boomerang homebuyers continues to increase, making them likely to purchase a home thanks to the normalization of their credit.

At present, within the Charlotte-Concord-Gastonia region, there are approximately 46,858 probable boomerang buyers, a number equal to 6.4 percent of the total housing units available according to RealtyTrac’s data. Affordability currently accounts at 22.5 percent.

Between 2007 and 2013, the Charlotte region saw a 1.9 percent increase in the number of baby boomers and Generation X.

There are also several metropolitan areas in Florida that saw a surge in boomerang homebuyers such as Fort Myers, Orlando, Daytona Beach, Melbourne, Sarasota, Lakeland, Ocala and Tampa. Other cities include Las Vegas, Des Moines, Iowa, Chattanooga and Knoxville, Tennessee, Columbus, Georgia and Winston-Salem, North Carolina.

RealtyTrac forecasts that nationwide, there are about 7.3 million pending boomerang buyers representing 5.5 percent of the total available housing units. As for the house payments nationally, the average is 26.8 percent of income.

Between 2007 and 2013, the number of baby boomers and generation dropped 1.5 percent.

The Phoenix-Mesa-Scottsdale, Arizona area currently has the highest number of potential boomerang homebuyers, which is nearly 349,000. This region was hit badly during the housing crisis, followed by Miami, Detroit and Chicago with each place having more than 300,000 potential boomerang purchasers.

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