Home values in the Mallard Creek area of the University have been affected by all of the new construction in near by Cabarrus county, the University Business Park, UNCC, the Mallard and Clark Creek greenways, Northlake Mall, Concord Mill Shopping, and the public schools. Real estate is profoundly affected by banking. Surges in pre-owned real estate sales coincide with the season of year, the interest rates, and the competing new home market. Many economists are forecasting a flat real estate market in 2012. I personally think that the market may change the most in 2013 when politicians begin to act instead of react. Fannie Mae and Freddie Mac are going to change in the near future. Investigation has just begun into these two lending entities. We do not know what impact the layoffs planned by Bank of America will have on the Charlotte economy.
By the way, I look forward to my fellow realtor and mortgage brokers comments on this.
Robin Faison, broker