With mortgage rates still low, Charlotte, North Carolina Realtors report a hot spring housing market, exacerbated by lots of new construction which is impacting resales negatively.

"Spring has arrived in Charlotte and with mortgage rates still near record lows, savvy home buyers are picking the best of the resales as they hit the market," says Realtor Jack Oudin. "So if you've been thinking about listing your home and buying another, now is the time to get your home on the market.

Oudin explains, "When a new listing is entered into the MLS, it will generally be available within 24 hours for all Realtors® to pull up when searching the system. However, it can take an additional 15-30 days for advertising to ramp up featuring your home in print ads such as newspapers, home magazines, and other print media. Publication deadlines and production times dictate when the ads will appear. Featuring your home on the Internet can take 5-10 days before it is shown on major portals such as Realtor.com, AOL.com, MSN.com, etc. Today's buyers do the bulk of their initial home search using the Internet. When they're ready to buy, most buyers use a Realtor® for the convenience and the professional service they provide. On average, a qualified buyer will make a purchase within 30-days of working with a Realtor®. So if you're still thinking about selling don't wait. You need to list now so your house can be professionally marketed during the peak of the home buying season."

"In Mecklenburg and Union counties, new construction is exploding, says Realtor Gail Daly. "This is causing headaches for resale homes trying to sell at this time. It is difficult to compete with what builders can offer. There are so many incentives to buy new homes such as upgrades by the thousands and closing costs. The more difficult-to-sell are homes in communities that are still building homes.

"What to do if you want to sell your home in this climate?" Daly advises, "Make your home squeaky clean and fresh smelling. Find a way that will allow Realtors to show it unmolested by smells and animals. Make it as much of a show place as you can. Most of all you must price it to sell and not play games in pricing. Statistics show that homes will sell quickly if priced within 3-4 percent of the market (homes that are similar that have sold).

"This area is known for its diversified communities," says Realtor Jeff Magee. "The area is known for its very diversified communities. You can choose a nice townhouse or condo in the middle of the city or get a nice suburb feel just outside of town. With the tremendous amount of growth in the area, we have experienced several different types of demands on the housing styles. You will find many locations with just as many different styles of living. You should be able to find just about anything you could ever want. You can find a home from the $100,000.00’s to the multi-million dollar level. There is something for everyone to enjoy in Charlotte, North Carolina.

About the market, Magee suggests, "Market information and conditions change daily. The numbers are usually skewed and seldom exact to the local market conditions. The reported averages are just that - averages. If you rely on information, which is compiled by the facts, within those facts are below and above average results. Although the average has set a trend and is reported that way, it may not be the average for the Realtor you are working with."

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Published: April 16, 2004

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