Reported by Deanna Slep, ABR, GRI, CRS, ASP, CDPE, ePRO
Updated November 10, 2009.
Current Market Rating: 2
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Current Price Trend: 2
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Nearly half of all homes being sold in the Charlotte real estate market today are distress situations, i.e., short sale, foreclosure, corporate relocation or the such. Another large segment of the market that seems to be selling well are new construction homes whereby builders have had to make significant price reductions in order to compete in today's climate. Unfortunately, many home sellers in today's market have not yet gotten realistic about their asking price under the current market conditions. Today's buyer has become highly educated and even more selective in chosing the right home. Today's buyer is looking at more homes prior to making a decision and is becoming less emotionally attached to the outcome. Sellers continue to lose ground on the negotiation front. Short Sale transactions are losing popularity as many buyers and their agents have experienced the frustrations of extended wait times on bank response. Banks really need to make better effort to streamiline and speed up the process of getting these transactions approved and closed! The number of homes sold in the Charlotte area picked up in October, but year over year value continues to decline. The average price for a home in the Charlotte area in October was just over $196,000 which is down about 10.5% over last year. Look for continued declines in value over the winter months with a possible upward trend in the Spring or Summer of 2010.
ZIP Codes: 28277, 28173, 28266, 28270, 28105, 28104, 28210, 28278, 28273 Approximate Location Boundaries: Charlotte, Matthews, Weddington, Waxhaw, Huntersville, Lake Wylie
Location Characteristics: It's hard to miss the nearly 20 cranes adorning the architecturally-striking skyline of center city Charlotte. From a multitude of museums to work-play mixed use developments and numerous other attractions, Charlotte's got a lot to offer. Charlotteans enjoy a wealth of attractions such as year-round festivals, Carrowinds amusement park, the NASCAR Hall of Fame, the National Whitewater Rafting Center and much more. Charlotteans constantly hears compliments from newcomers on the cleanliness of the city and the friendly demeanor of the people living in the area. It makes me proud to call Charlotte my home. The population consists of a good mix of people from accross the world and the area enjoys a mild mix of all four seasons. Charlotte is just three short hours to the mountains and not quite four to the beach. It is the second largest financial district behind Wallstreet and while that may not be something to tout in today's tumultuous financial climate, the city also has strong players in industries such as energy, healthcare and education. Charlotte is known as the Queen City and is a beautiful and fun place in which to live and raise a family!
About Deanna Slep:
In a world of "movers" and "shakers", Deanna Slep is both. Never one to wait for things to happen, she always puts forth her best efforts to achieve the goals she's set for herself. That's just Deanna's way of life - approaching things head-on, stopping at nothing and accomplishing the seemingly impossible.
Influenced by her own mother's success in real estate, Deanna acquired firsthand knowledge of what it takes to be the best in her field. Her past work as a CPA gave her invaluable experience in the importance of thorough customer service and special attention to each client's specific needs. She listens intently to your goals, then devises a strategic plan of action to help you market your home successfully, or find that perfect home to buy. That's Deanna's commitment to you: unsurpassed service with exceptional results.
Deanna's reputation as a go-getter in her personal and professional endeavors has earned her accolades from friends and clients alike. They know she is the one to count on for successful results. When the time comes for you to make a home sale or purchase in the area, contact the professional who's Getting Results in Charlotte. Just call or e-mail Deanna Slep today!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
