What is Absorption Rate Pricing? Absorption rate pricing is an old but, often over-looked method used by real estate professionals to calculate the value of your home. The calculations are based upon the principles of supply and demand. Because appraisers are now required to use Absorption Rate Pricing to determine your home’s value, it is critical that you understand how the process works. There are only a certain number of Charlotte homes that will sell in any market in any given period of time. For example, if 12 homes sold in the last 12 months in a given market, that means that the … Continue reading...
Search Results for: charlotte nc real estate market report
Signed contracts to buy US homes rise to 18-month high
Signed contracts to buy US homes rise to 18-month high As the spring market heats up, the inventory remains low and there are hungry, hungry buyers in Charlotte, searching frantically for their new home. The months supply of homes in Charlotte (city and county) is down to 4.2 (all homes, all price ranges), down 4.5% from this time last year. Pending sales in Charlotte (13,899 for the year) are up 8.9% from last year. 13,359 homes sold in the past year, an increase of 3.0% compared to the national average of 1.7%. The national report included the following highlights from … Continue reading...
Rich People are Splurging on Million-Dollar Homes Again. Here’s Why.
Yes, the wealthy are splurging once again on million-dollar homes in Charlotte NC. Here’s why according to the Washington Post. First, let's talk Charlotte! Our Charlotte luxury market has rebounded quite nicely and continues to move at a rate in which we are more accustomed. All things considered, 2007 was our 'top-of-the-market' year. As our data is somewhat limited from '07, here is what we will use to compare Charlotte sales in all $1,000,000+ sales in the area. Historical Data - Charlotte Million Dollar Home Sales - 2007 As you can see, 237 homes sold for $1M+ in an average of 60 … Continue reading...
Buy
Steps to buying a home Everyone dreams of owning their own home. Searching for the perfect home for your family can be a very exciting, yet anxiety-filled experience. However, if you know what to expect during the home buying process you will be more relaxed and comfortable knowing that we will be by your side every step of the way guiding you through it and looking out for your best interests. Below are the steps to selling to help you visualize what this process looks like. Don't hesitate to call us if you have any questions and remember we will be there for you every step of the … Continue reading...
Top 3 Luxury Neighborhoods in Sales During Last 3 Months (MAR 2014)
Top 3 Luxury Neighborhoods in Sales During Last 3 Months (MAR 2014) The last 3 months in luxury sales have demonstrated a true recovery in the Charlotte real estate market. Typically in a down market, the luxury home market is the last one to rebound and the recent years have been no exception to that rule. What constitutes a luxury home neighborhood? In Charlotte our luxury homes range anywhere from the mid-$400's to the millions but, for this report, we pulled data from MLS (deemed reliable but, not guaranteed) at a beginning price of $500,000. The average sales price in the top three … Continue reading...
Should the Seller or the Buyer Pay for Repairs?
Should the Charlotte Home Seller or the Buyer Pay for Repairs? If you’re thinking of selling your Charlotte home, you will definitely want to hire your own inspector to spot problem issues, so those problems can be addressed BEFORE listing your home. Here's why... Homes that are in excellent condition, in a great location and priced at market value typically sell very quickly in this market. Say a Charlotte home for sale goes under Contract within a week of listing. That listing remains on the market as "Under Contract, Continue to Show" throughout the entire Due Diligence period. That … Continue reading...
Higher Lot Prices May Boost New Home Prices
Higher Lot Prices May Boost New Home Prices Home builders are paying higher prices for construction-ready lots in many major markets. USA Today reports. Debe Maxwell www.iCharlotteRealEstate.com's insight: I realize that this is ia national article but, there is truth for us locally in this one! In a recent conversation with a local builder, in his opinion, new construction will not be able to keep up with the CURRENT demand for 5 years. As demonstrated below, new construction home sale demand is higher than resale demand currently, and both facets are in a seller's market in … Continue reading...
6 reasons builders are bullish on 2013 | Inman News
See on Scoop.it - Charlotte Real EstateShift in supply and demand sweeping the nation. A friend of mine moved to Orange County, Calif., just before the housing market collapsed. ...all this indicates if not a turnaround for homebuilders, at last the bottom of the market has been reached and it's time to climb back out. I should temper such excitement by adding that the market still has a huge way to go before the industry looks anything like it did before the fall, but progress is progress. According to the Eye On Housing blog, from peak to trough, new-home sales fell 80 percent … Continue reading...
Seasonal Spice: Dilworth Pumpkin Patch
Ahh...Cool, crisp fall and the joys of a local pumpkin patch! There are lots of reasons to be excited in October: the crisp fall air, leaves turning, hot apple cider on a cool night, patios that will soon be abandoned until springtime, Halloween looming ever closer…and pumpkins. Who doesn't love a good pumpkin patch? Monday, I went by the Dilworth Pumpkin Patch. It's right at the corner of East Boulevard and Scott Avenue…next to Jersey Mike's, across from Brixx and catty-corner to Starbucks. You can't miss it! The pumpkin patch has popped up around this time of year for the last four years. … Continue reading...
OOPS! Too Late! Sorry You Missed This Stunning Myers Park Home!
4BR/2.5BA Myers Park Home for Sale | $600,000 MLS# 2055434 UNDER CONTRACT ***Click the photo below to link to the YouTube video of this wonderful Myers Park Home. Myers Park custom built home by M. H. Leonard on great cul-de-sac off of Park Road. So sorry you missed this Myers Park gem! Here's a little information on this home and we can surely find you something in this popular Charlotte neighborhood since you missed this one! Dramatic architecture with columns and heavy millwork throughout this lovely Myers Park hone with soaring two-story foyer and gleaming hardwoods hardwoods … Continue reading...