The worst drop in housing as reported by CNN Money today. Charlotte has slowed a bit but nothing like the National outlook. Depending on your location its probably in your best interest to pack up and move to Charlotte. While we had a steady growth of 6 and 7 % of the past several years, we never “blew up” in the tens or twenties like some areas of the nation. This provided Charlotte a much better cushion and less volatility when the rest of the nation “bust”.
Being in Charlotte is a great thing. A growing city with affordable home prices along with friendly people. You can’t beat it. Period.
According to CNN, NARS (the national association of realtors) home sales index plummeted 2.6% in November. Ouuch! The article touches upon several items listed by NAR as “favorable” forecasting. Now it looks like they are having to back track on those numbers.
It indeed makes me wonder just how much “marketing hype” plays a role in trying to suggest the market is not as bad as it is. There appears to be nothing but bad news in the industy, as Countrywide seems to be up to their eyeballs from the media too. They allegedly sent out several documents to bankruptcy homeowners saying they still owe thousands of dollars. Their stock tank today by about 20% to around $6 bucks a share.
As many folks have fared well in the Charlotte real estate market over the past years, things have slowed down…just a bit though. When you compare our local market to other regions in the US we’re actually looking pretty good. Its still very affordable here and multiple reports have come out over the past several weeks pointing to Charlotte with an appreciation rate as high as 11%.
Our family played the market for quite some time in Florida and did pretty well. Our last home was a bit of a “drama show” as some would call it, as we managed to “dump” our house to move up here. I’m now anxiously waiting on the market to turn and display the appreciation rates we saw several years ago. I may be waiting for awhile, but come first sign….I’ll buy back in Florida in a heart beat. Last I checked, they’re not building any more beachfront land.
Depending on which news source you read, Charlotte is one of the fastest growing in the country. Or its listed as one of the most overvalued locations and you shouldn’t move here.
West Morehead Street and Berryhill Road will see some traffic in the next few years. Martin Grimes Development LLC is about to build 540+ homes on over 36 acres of property. The residential project is slated to hit a price tag of 140 million. The company also plans to build offices in the location as well. Pricing for the development looks like this:
We’ve been feverishly adding content to our communities pages to beef them up. We’ll soon be adding photos in two places. One, in the community pages themselves to showcase the front exterior as well as some homes inside the community. The second place will be within the Google Maps on the “Communities and Neighborhoods ” pages.
We’re still debating on what type of “Search” features to bring to the public as we want to bring only the best technology. We’ll post an update soon!
How many people say that? I’m one of them! We’re currently ramping up the community pages and determining what content to add, such as Google Maps for home search, community reviews and more. As the deadline nears we’re also gearing up our big Press Release to be sent out.
Well, yet another market report from the government was released today stating the housing market stinks. What else is new? You can take a look at the article over at CnnMoney.com.
The stock market has tanked more than 300 points with this news, as well as rising oil prices.
We will be going live on August 1st with our new website about Charlotte North Carolina. Everything from new communities, home pricing, latest market news, and tons more online at your fingertips. Stay tuned for more information as we move forward to our launch date!!