Charlotte NC Real Estate Update SEPT 2009

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Real Estate Broker with www.AtHomesCharlotte.com | Savvy + Company Real Estate 228209

Charlotte NC Real Estate Update, SEPT 2009


T
Charlotte NC Sept Market Reporthe salability of their home on the market seems to be at the forefront of Sellers' minds during in mid-October.  There are  thoughts that this may be a good time to take their home off the market until the springtime when the “market improves”, but, this year, there are several reasons not to this:

1.  We believe that the market will continue to improve in terms of the number of sales, but that prices will continue to soften until the rate of employment increases.


2.  More people with jobs means more people can afford to buy a home. Estimates by most local and national economists believe employment numbers may begin to improve in mid year.


3.  Prices will soften if interest rates increase. There is no question that current mortgage rates are at historic lows and that sooner or later rates must increase. A higher rate of interest will mean less buying power for homebuyers and this too will have a negative impact on home prices.


4.  Historically, more new listings are placed on the market in the springtime than at any other time of year. More listings equal more supply equals more listings trying to compete to attract the same buyer pool.

Devaluation of property occurs the longer a home remains unsold. If home prices are falling at 4% annually then a $400,000 home devalues at $16,000/year, why not agressively price your property and continue to 'ride out' the market while other sellers are removing their home from the market for the holidays?  As springtime approaches, you'll have far more competition.   By leaving your home on the market during the winter months, you'll surely captuer the buyer that loves to shop in during this time and have less competition than in the spring!

Here are the September statistics for Charlotte single family and condo/townhome sales only, 9/2008 vs. 9/2009:

Charlotte NC Sept Market Report

The median sales & DOM statistics for Charlotte single family sales only, since April, 2009 are below.

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Topic:
Real Estate General Information
Location:
North Carolina Mecklenburg County Charlotte
Groups:
Charlotte North Carolina Area
City & State: Listings and Market Reports
Market Reports
North Carolina Real Estate
Posts to Localism
Tags:
charlotte nc real estate
charlotte nc market report
charlotte nc helen adams realty debe maxwell

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Rainmaker
123,645
Melissa Polce
Lake to Land, I've Got It Covered!
Allen Tate

I agree, but then you tell the seller...and it is a hard sell! Good Morning!

October 15, 2009 07:41 AM
Rainmaker
145,364
Caren Wallace
Portage Lakes Real Estate Agent
Stouffer Realty, Akron, Ohio

Deb, I just told a seller the winter months are a good time to sell with fewer competition! This is a very well written post!

October 15, 2009 07:47 AM
Rainmaker
863,078
Jane Peters
Connecting you to the L.A. real estate scene
Power Brokers Int'l

Love the graphs.  And great argument for listing during the winter.  Well done, Debe.

October 15, 2009 02:10 PM
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Debe Maxwell

Charlotte Homes for Sale - Charlotte Neighborhoods
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Additional Information

Author Bio: Debe Maxwell is a Certified Residential Specialist in the Charlotte Metro region with a focus on the Charlotte luxury home market. My team of agents each have their own specialty areas, a benefit to anyone buying a home in Charlotte NC.

 

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