Archive for October 18th, 2008

Should I buy or should I sell? Yes.

October 18th, 2008 categories: Charlotte Real Estate Trends

OK I guess I have some explaining to do! I am actually going to let Nancy Stancil at the Charlotte Observer do most of the heavy lifting, she does a superb job in her article “The Upside of the Housing Downturn”.

And OK I apologize for the obnoxious ying/yang symbol but I crave attention (if I get 5 comments I’ll change it to a more peaceful version!) the thing is I think the housing crisis as bad as it is (like most crises) is a bit overblown (see The Charlotte Sky is Falling. Or is it?) and if you think about most crises are not 100% bad  ~ there might even be a silver lining for some!

From Nancy’s article:

Brian Cook just moved into the Huntersville subdivision (suburb of Charlotte) he wanted at a price he finally could afford. He paid $300,000 for a 2,800-square-foot, brick two-story in Wynfield. A year ago, someone would have snapped up that house for as much as $350,000, said Kevin Belk, his Allen Tate Realtor.

Dot Munson, president of the Charlotte Regional Realtor Association sums up the Charlotte market best “Sellers here are getting an average of 94 percent of their asking prices, down from 98 percent last year. You’ll find good deals, not steals.”

And Stormie Benfield, a three-year Realtor with Keller Williams makes a good point, “The good news for Charlotte is that people are coming here and they still want to buy,” she says. “A lot of renters will go straight into the buyers market when conditions improve.”

Please read the article, I think you’ll find it a level-headed and rational look at the real Charlotte residential home market. Are you ready to sell? to buy? YES we can help!

(just make sure you don’t get a YingYang Realtor!)

Authored by Mike Gibbons | Discussion: Your Comments Please »