The UPside
of the DOWNturn
Real estate is certainly a
cyclical and everchanging business!
Lately, not only those who have been in the business for a
short
period of time, but those in it for years now, have experienced the
roller coaster ride of the downturn in the economy. As the
nation began reeling from crumbling markets, Charlotte was one of just
a couple who were still standing strong. November, 2008
brings a
slightly different picture for those of us in Charlotte, who thought 6
months ago that we were immune to the downturning economic environment.
We have just
realized our worst month (October) in real estate (in several
years now) and are looking at our statistics more closely now than ever
before. Oftentimes in the past, we didn't even have time to do such
thorough market analysis!
While reviewing last months totals and trying to glean a more insightful answer to my buyers who remain on the proverbial 'fence,' I realized that my favorite mortgage brokers were right--we ARE selling a large number of homes to first-time-buyers! Charlotte regional buyers are scoring great deals (NOT steals) on properties that were beyond their reach in 2006 and even 2007. Another hot sales arena in Charlotte NC real estate is new construction. Builders have built as though there was not going to be a downturn for us and found themselves with an increased supply and a decreased demand. They have begun 'wheeling and dealing' with buyers. Buyers are certainly scoring big while being represented by experienced, tough negotiating REALTORS, on new construction in the Charlotte area.
My
lenders are telling me that they are DEFINITELY lending money to these
first-time buyers, one of whom has a credit repair program that many
future buyers are ecstatic about! The public has been
brainwashed to believe that, basically, the banks are not lending ANY
money right now! A good deal of them are even
afraid to apply for a mortgage for fear they'll be rejected. Au
contrairè! Banks
ARE lending money for homebuyers and they are doing so DAILY! Exotic loans
are not necessary either!
Once again, if you're NOT a first time homebuyer and you have a home to sell, remember pricing is everything in this market! If you're not greedy, it WILL sell! REMEMBER: Your home that you purchase will allow you to make up the lost difference and put you in a home with greater appreciation over time! In 2006 when you were a seller, you were making a hefty profit on the SALE of your home, then paying an increased price when you purchased, giving that seller a hefty profit! It's simple economics--the tables are simply turned now in the BUYER'S favor!
Seriously, why NOT buy in this market?
October, 2008 Total Sales: 2,067--66% of Charlotte's home sales were under $200K
Give us a call! Let us negotiate a GREAT price on a new or resale home for YOU!
Debe
Maxwell is a Charlotte
Residential Real Estate
Broker, Certified Neighborhoor & Relocation Specialist, ABR
&
e-PRO who can assist you with the purchase and/or sale of real estate
in the Charlotte NC
Metro Area.
If you're relocating to or from any other area of the
country,
Debe connects you with any member of her team of relocation
professionals in your destination or exit city of choice. The
destination service is of no cost to you! The
Maxwell House Group's
quality service guarantee puts this team far ahead of the competition;
providing unsurpassed customer service is their #1 priority!
Debe
Maxwell -- Helen Adams Realty -- 704.491.3310
Let's
go shopping for Charlotte
NC homes for sale!
Real estate is certainly a
cyclical and everchanging business!
Lately, not only those who have been in the business for a
short
period of time, but those in it for years now, have experienced the
roller coaster ride of the downturn in the economy. As the
nation began reeling from crumbling markets, Charlotte was one of just
a couple who were still standing strong. November, 2008
brings a
slightly different picture for those of us in Charlotte, who thought 6
months ago that we were immune to the downturning economic environment.
We have just
realized our worst month (October) in real estate (in several
years now) and are looking at our statistics more closely now than ever
before. Oftentimes in the past, we didn't even have time to do such
thorough market analysis!While reviewing last months totals and trying to glean a more insightful answer to my buyers who remain on the proverbial 'fence,' I realized that my favorite mortgage brokers were right--we ARE selling a large number of homes to first-time-buyers! Charlotte regional buyers are scoring great deals (NOT steals) on properties that were beyond their reach in 2006 and even 2007. Another hot sales arena in Charlotte NC real estate is new construction. Builders have built as though there was not going to be a downturn for us and found themselves with an increased supply and a decreased demand. They have begun 'wheeling and dealing' with buyers. Buyers are certainly scoring big while being represented by experienced, tough negotiating REALTORS, on new construction in the Charlotte area.
My
lenders are telling me that they are DEFINITELY lending money to these
first-time buyers, one of whom has a credit repair program that many
future buyers are ecstatic about! The public has been
brainwashed to believe that, basically, the banks are not lending ANY
money right now! A good deal of them are even
afraid to apply for a mortgage for fear they'll be rejected. Au
contrairè! Banks
ARE lending money for homebuyers and they are doing so DAILY! Exotic loans
are not necessary either!Once again, if you're NOT a first time homebuyer and you have a home to sell, remember pricing is everything in this market! If you're not greedy, it WILL sell! REMEMBER: Your home that you purchase will allow you to make up the lost difference and put you in a home with greater appreciation over time! In 2006 when you were a seller, you were making a hefty profit on the SALE of your home, then paying an increased price when you purchased, giving that seller a hefty profit! It's simple economics--the tables are simply turned now in the BUYER'S favor!
Seriously, why NOT buy in this market?
October, 2008 Total Sales: 2,067--66% of Charlotte's home sales were under $200K
Give us a call! Let us negotiate a GREAT price on a new or resale home for YOU!
About
the author:
Debe
Maxwell is a Charlotte
Residential Real Estate
Broker, Certified Neighborhoor & Relocation Specialist, ABR
&
e-PRO who can assist you with the purchase and/or sale of real estate
in the Charlotte NC
Metro Area.
If you're relocating to or from any other area of the
country,
Debe connects you with any member of her team of relocation
professionals in your destination or exit city of choice. The
destination service is of no cost to you! The
Maxwell House Group's
quality service guarantee puts this team far ahead of the competition;
providing unsurpassed customer service is their #1 priority!
Debe
Maxwell -- Helen Adams Realty -- 704.491.3310Copyright©
2008 By Debe Maxwell, All Rights Reserved...**The UPside of the DOWNturn**
Disclaimer: All
information
provided by this author is strictly an opinion, is not guaranteed, may
be based on information collected from several sources, which may or
may not be deemed reliable at the time of researching this article and
may be time sensitive.Let's
go shopping for Charlotte
NC homes for sale!
Most who know me, know that I
am a statistical person! I'm always interested in polls and
statistical data related to real estate. A few months back, 
Yes, you know we all have our
passions about pet peeves in our business but, 
I HAVE one of these placards
(that is mine above, right) but, the ONLY time (and I MEAN only time)
that I use it is when my hubby is with me! I've been out in
horrible rain storms and times when I'm in a 
What is 
Others prefer the 
This is a