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Tiffany Johannes' Blog

By Tiffany Johannes Team | Broker in Charlotte, NC

The Housing Honeymoon in Charlotte

Picture courtesy of KeepingCurrent Matters.com  

Lately all that we have heard about the Charlotte housing market is that prices and interest rates are down, the market is stabilizing, and it is a good time to buy or sell. Although we have also heard that there may be another wave of foreclosures, and the market still has its problems. What if any part of this is true? Actually, all of it! Which may be confusing in itself.

The best way to look at this ‘confusing market’ is to take it one part at a time. First, housing prices and interest rates are at an all time low; although there has been a slight increase in both over the last month according to Charlotte Regional Realtor Association's Monthly Indicators. This is mainly because of the fact that there is an inventory shortage on housing.

 

An inventory shortage has come about because sellers have heard that housing prices are increasing and are unsure whether or not to sell now or wait until prices are up a bit. On the other hand, buyers are picking up less expensive houses and thus we have a shortage in the housing inventory of the area.

 

The new foreclosures that are predicted are because of the National Mortgage Settlement; but experts feel it will not be to the extent that we saw a couple of years ago. The problem with this indicative is that it will take up to 3 years to reach homeowners who are in trouble. Also much of this money is scheduled to go to homeowners who have already lost their homes.

 

So what does this all really mean to the average home seller or buyer? Basically, all the indicators show that in a time when the market usually drops off, the general feeling is that these markets’ conditions will continue to be sustained. Also, for the most part, the foreclosure trend is slowing, and as for the question of whether you should buy or sell, that is always up to the individual. However, the way indicators are looking; it is a good time to do either.

 

Why not let me help you figure out this confusing market? Whether you're thinking of buying, selling or financing real estate, I'd love to hear from you! ... Tiffany Johannes - Help-U-Sell Buy Today - Office Ph: 704-837-0010 Email: tiffany@husbt.com or visit us on the web at www.CharlotteHomeExperts.com

 

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