Charlotte Real Estate Market (Mooresville, Mint Hill: sales, to rent, new home) - North Carolina (NC) - City-Data Forum

Washingtonian · 06-21-2006, 01:09 PM

I just received a call from a well known national builder in Charlotte that I visited in March. He called me to let me know that they were having an incentive where the lot premium was eliminated and he reduced the base price of the house by $5,000. A total reduction close to $15,000.

I know there is a problem with people selling homes in other area of the country is the market in Charlotte changing also. Is this reduction due to the many people in Fl, AZ, NY or where ever that cannot sell there house and therefore cannot purchase a home in NC. (Trickle down effect) I'm curious to anyone's opinion on this subject.

I have already decided to rent for 6-9 months before I commit to a permanent home.

a1m1700 · 06-21-2006, 01:18 PM

Well I had to put down only 1000,00 if I have to lose it no big deal.

a1m1700 · 06-21-2006, 01:21 PM

Where was this? What area and what builder?

tismekll · 06-21-2006, 02:23 PM

Quote:

Originally Posted by a1m1700

Well I had to put down only 1000,00 if I have to lose it no big deal.

alm, what builder did you go with? So did you purchase in Mooresville or ??

a1m1700 · 06-21-2006, 02:27 PM

Dr Horton in Davidson. The Farm
Ryland in Mooresville Linwood Farms has gone up 13,000 since May.

Washingtonian · 06-21-2006, 02:29 PM

Sorry, I tried to send a message back and I kept getting a busy server message.

The builder was Ryan Homes, Meadows at Mint Hill

2/3 acre lot , house in the mid 300ks range

Washingtonian · 06-21-2006, 02:31 PM

Maybe the pricing depends on the area of Charlotte. It seems that Mooresville, Davidson, S. Charlotte etc. are very hot. I doubt if you would see so many price incentives. Other areas may have to be more competitive.

a1m1700 · 06-21-2006, 02:50 PM

Quote:

Originally Posted by Washingtonian

Sorry, I tried to send a message back and I kept getting a busy server message.

The builder was Ryan Homes, Meadows at Mint Hill

2/3 acre lot , house in the mid 300ks range

Oh Mint Hill. That looks like a nice area but pricey.

Miker2069 · 06-21-2006, 08:10 PM

Quote:

Originally Posted by Washingtonian

I just received a call from a well known national builder in Charlotte that I visited in March. He called me to let me know that they were having an incentive where the lot premium was eliminated and he reduced the base price of the house by $5,000. A total reduction close to $15,000.

I know there is a problem with people selling homes in other area of the country is the market in Charlotte changing also. Is this reduction due to the many people in Fl, AZ, NY or where ever that cannot sell there house and therefore cannot purchase a home in NC. (Trickle down effect) I'm curious to anyone's opinion on this subject.

I have already decided to rent for 6-9 months before I commit to a permanent home.

I was trying to figure out if Charlotte RE was slowing down too. My take is no it hasn't. Charlotte never really "bubbled" like the Northeast and CA. It's been a nice steady increase- as I understand it more and more, bubbles are not really a good thing (even though I benefited from the RE increase in MA).

My builder to (Centex) has been raising prices on their base plans $3K/mo for the last 4 months or so. I don't know if that will continue but I think for new homes it still seems pretty hot, for homes probably greater than 5-10 years it might have slowed a little bit- I still see lots of good deals out there on non-new homes.

Even though it's a buyers market in the bubble areas, you can still sell at a good price (although your not going to make out as good as those who sold a year ago- they cashed out big time), and move that money into a more moderate and reasonable RE growth area like Charlotte.

VickiR · 06-22-2006, 07:58 AM

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