Charlotte Real Estate Market (Washington, Marvin: rent, mortgage, houses)
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Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
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Quote:
Originally Posted by VickiR
Ok...here is the Realtor's perspective. Prices always have to do with "supply and demand". So...if a builder is offering "incentives", his sales have slowed down a bit. Maybe they had projected 10 sales for the month and they only had 8. So...offer an incentive or give some free options and sales go up. Then...when sales are good...they will raise prices on the new homes for every 5 they sell. New homes usually outsell older homes because we have so many new neighborhoods and buyers get a great selection. If you buy in a new neighborhood, I always check and find out how long before the neighborhood will be complete because you don't want to sell while the building is still going on because your competition will be the new homes. Does this make sense? I try to educate my buyers so they don't have any surprises along the way. Vicki
makes perfect sense. When I signed my contract it was March 1, my sense it was slower then (winter and all, although Charlotte had like 5 days in the last week of feb. that were in the high 60s and low 70s!).
So in your professional is the Charlotte market not following the national home sales slow down? Still seems that it's moving at a good clip to me.
So in your professional is the Charlotte market not following the national home sales slow down? Still seems that it's moving at a good clip to me.
I think it is and it also depends on the other factors as well....the reputation of the builder, the area of the subdivision, the size of the home versus the price (getting more for your money), and the location of the actual lot. My builder, John Wieland in Charlotte is selling more new homes than they can build; they're constantly building based on supply and demand. But his community also has a few inventory homes that have been around for some time, mainly due to the location of the actual lot. From the research I have done, it doesn't seem that the market will slow, especially if everyone keeps moving down there. I have also seen many resales on the market for some time and unfortunately they are competing with the new homes.
How is the SW area (Steele Creek) overall? My wife and I have been looking at a subdivision called Berewick but the builder we're interested in, Shea Homes, has been pretty slow at opening lots. Any info on this subdivision in particular would be nice.
Semi-related - Is it really much cheaper for everything - insurance (both home and car), income taxes, property taxes - like I've read some places or is it a wash? Schools better in Ft. Mill? No kids yet, but we're planning.
Two homes on my street have sold instantly, here in Union County. One sold in a day, the other in about weeks. We are seeing big jumps in prices, roughly.
I bought my house new, 6 years ago. The price was $85.25 per square foot, and now I figure that based on my neighbor's prices, I would be able to sell at $121.85 a square foot.
Two homes on my street have sold instantly, here in Union County. One sold in a day, the other in about weeks. We are seeing big jumps in prices, roughly.
I bought my house new, 6 years ago. The price was $85.25 per square foot, and now I figure that based on my neighbor's prices, I would be able to sell at $121.85 a square foot.
For reference, my house in FL is under contract for roughly $145/sq foot. We have another waterfront house we're moving into and it's "worth" probably $250/sq ft. if we sold today. Charlotte still sounds reasonable to me!
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,551,683 times
Reputation: 2118
Quote:
Originally Posted by pegmomof4
Two homes on my street have sold instantly, here in Union County. One sold in a day, the other in about weeks. We are seeing big jumps in prices, roughly.
I bought my house new, 6 years ago. The price was $85.25 per square foot, and now I figure that based on my neighbor's prices, I would be able to sell at $121.85 a square foot.
Well that's pretty good and I think about what most web-sites are reporting in terms of home sale value increases. Seems like you've got a nice ~7%/year increase. That's really good. It beats bubble increases of like 20%-30%...
sold ours last year in norcal $466/sq ft. and still had a 50 minute commute to work. ridiculous. I think Charlotte is fine for home sales I would expect a steady increase in the 7-10% range as it is seeing a lot of growth right now. per square foot price is still on par with the national average.
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