Charlotte home sellers Archives - Houses for Sale in Charlotte NC

It’s an Unprecedented Sellers’ Market

02/26/2021 by Debe Leave a Comment

It’s an Unprecedented Sellers’ Market

I received an email this morning with an article about how sellers are ‘finally feeling comfortable selling again.’ I almost wrote back and asked what planet the sender was on! Our sellers have felt comfortable selling since mid-2012 and we’ve been in a strong sellers’ market since February, 2016.

If you don’t own your home (meaning outright or carrying a mortgage), the median sales price should be a wake-up call! Where else can you invest your money and garner a 13+% increase in value in 12 months – not years, MONTHS – ONE YEAR! That is unprecedented. If you do own, have you thought about adding investment property/properties to your portfolio?

Sellers are in the driver’s seat when they receive 3+ Offers in 2021. That doesn’t mean it’s not a great time to buy as well. When have you seen interest rates this low? For sellers, they are able to call the shots with multiple Offers in-hand.

Over the past year, buyer demand is soaring like it never has before – not even during the years of 2005-2007.
According to NAR, homes are selling twice as fast as they did in 2020 at this time, getting multiple Offers and exponentially increasing in value, putting homeowners squarely in the driver’s seat.
Thinking of selling your Charlotte area home this spring or summer? Let’s talk! Let me show you how to leverage your position as a seller in today’s market. Call me at (704) 491-3310 today.

Is Now the Time to Buy a Retirement Home?

10/15/2020 by Debe Leave a Comment

Is Now the Time to Buy a Retirement Home in Charlotte NC?

What is the magic age for retirement?

When you hit that 50+ age, it seems statistics about age jump off of the page as though they are targeted directly at you! Today, reading a Keeping Current matters article, I was, once again, reminded of that. Did you know that every day in the US, roughly 10,000 people turn 65. That number is expected to more than double by 2050 with approximately 20% of the population being 65 and over then. At my age, that is staggering/sobering statistic!

Prior to the 2020 pandemic, most people waited until they retired to make a move to the beach, the golf course, lake or even their favorite senior living community. Plans for settling in for the later years in life were pushed to the very end of work careers. Speaking as a baby boomer who shifted priorities, this year, the game changed for many pre-retirees.

The new age of working remotely

The ability to work remotely is expanding homeowners’ geographic options and driving their motivation to buy those dream homes/locations now, rather than waiting to pursue their dreams. If the links or the sun and the water are calling your name and you have the ability to work remotely for the foreseeable future, now may absolutely be a great time to purchase that lake bungalow you’ve always dreamed of or that ranch home in the sprawling countryside. Whether it’s a second home or a future retirement home, spending the next few years in a place that truly makes you smile every day might be the best way to build upon and in the end, round out a long and meaningful career.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“The pandemic was unexpected, working from home was unexpected, but nonetheless many companies realized that workers can be just as productive working from home…We may begin to see a boost in people buying retirement homes before their retirement.”

According to the 20th Annual Transamerica Retirement Survey, 3 out of 4 retirees (ages 50+) own their homes, and only 23% have mortgage debt (including any equity loans or lines of credit). Since entering retirement, roughly 38% have moved into a new home. They’re selling their current homes at a profit in today’s low inventory market and using their equity to purchase their future retirement homes. It’s a win-win.

Why Boomer Homeowners Are Making Moves Now

The pandemic this year made us all more aware of the importance of our family and friends, and many of us have not seen our extended families since the pandemic started. It’s no surprise, therefore, to see in the same report that 32% of those surveyed cited the top reason they’re making a move is that they want to be closer to family and friends (See graph below):

The survey also revealed that 73% percent of retirees currently live in single-family homes. With the overall number of homes for sale today hitting an historic low, and with the buyer demand for single-family homes skyrocketing, there’s never been a more ideal time to sell a single-family home and make a move toward retirement. Conversely, and a topic for another article that stems from the pandemic, many people are moving away from the ‘tighter’ city living and to those single family homes in the nearby suburbs. Today’s market is the perfect combination of driving forces to make selling optimal for retirees, especially while buyers are looking to take advantage of historically low interest rates and baby boomers facing less competition in compact living the city offers.

If you’re one of the 73% of retirees with a single-family home and want to move closer to your family, now is a great time to put your house on the market. With the pace homes are selling today, you could essentially wrap up your move – start to finish – before the holidays.

Whether you’re looking to fully retire or to buy a second home with the intent to use it as your retirement home in the future, the 2020 fall housing market may very well work in your favor. Let’s talk about your options in our local market. Call or text me at (704) 491-3310

There’s a Difference Between Decorating & Staging – A BIG Difference!

05/17/2020 by Debe Leave a Comment

There’s a Difference Between Decorating & Staging – A BIG Difference!

I feel like I’ve shared this tidbit before but, for the life of me, can’t find my post! Regardless, it’s worth repeating…

Have you ever noticed that decorators have a tough time putting the kibosh on ‘designing’ homes they are prepping for sale? Everyone knows a decorator/designer and many times when I suggest a stager, I hear, “Oh my BFF is a decorator – I’ll have her come in and help!”

It’s just NOT the same! I belong to a very large city group and was recently tagged on a post by a homeowner who has now listed their house. It is in a neighborhood that I had a buyer looking but, they weren’t ready to list when my buyer was ready to buy. Now they have had to reduce the price and she is reaching back out to everyone who showed any interest.

I opened the ad and felt like I was looking into one of those psychedelic posters from the 70’s! Now, the décor was fabulous and certainly not from the 70’s but, there was so much ‘stuff’ that I couldn’t even see the rooms. The beautiful tchotchkes were everywhere…and as mesmerizing as a psychedelic poster!

Instead of “Oh my goodness, I love your house,” there were dozens of comments, asking about particular pieces of furniture and many of the tchotchkes the readers loved. The commenters wondered if she would sell those items before she moved.

Others were asking who her decorator was! To me, that one question is a sure sign that the house (which is what is actually being sold here) is being overlooked.

There is a HUGE difference between decorating and staging; when you’re selling, you don’t want the former! The explanation that I give my sellers with decorator friends is that the more items a decorator sells to you, the more money they make. Stagers are minimalists; their job is to show off your house, not your STUFF! Staging isabout creating ambiance and appeal for buyers.

Tips for Selling Your Charlotte Home in the Spring

03/24/2019 by Debe Leave a Comment

Tips for Selling Your Charlotte Home in the Spring

Get your yard into shape by clearing out debris in the yard. For more yard-sprucing tips, read this article.

Spring clean the interior – remember a sparkling home will impress your buyers

Spring is HERE! The spring market is ON – don’t you want to be a part of it?

Bring nature indoors – spring aromas have a profound effect on home buyers. Remember, we buy with all of our senses.

Clean out your closets – remember a closet chock-full of clothing is an indication to your buyers that you are selling your home because there is not enough storage space.

First impressions are key – once the buyers arrive to your home, your doorway sets the tone for the entire showing.

Usher in spring with bright colors – accent pillows do wonders for drab furniture. Need staging tips, we have amazing stagers on our team who can help you set the stage to get the most out of your home sale.

Thinking of selling your Charlotte home? Let’s talk! Call or text (704) 491-3310.

#SpringSellingTips #ListMyCharlotteHome #SellingYourCharlotteHomeInTheSpring

Cleaning House: How to Tidy Up and Declutter Without Professional Help

02/24/2019 by Debe 1 Comment

More from our DIY Series: Cleaning House: How to Tidy Up and Declutter Without Professional Help

Cleaning and decluttering are great ways to improve your home and your health, but they can be big jobs that take a lot of time and effort to complete. Many homeowners try to take care of smaller cleaning jobs throughout the week when they have a few minutes to spare and leave the bigger projects for the weekend. However, when you have kids or other obligations, sometimes those good intentions fall by the wayside. These days, more and more people are turning to professional help for whipping their homes into shape, but the good news is that there are several easy ways you can get started on your own without having to pay for assistance.

If you have limited time, it may be a good idea to create a cleaning routine that will allow you to get things done throughout the week. This might include dividing the chore between your family members, which will help take the bulk of the burden off your shoulders, or it might simply be an easy way to keep track of what needs to be taken care of. For example, turning Mondays into kitchen-cleaning days, Tuesdays for bathrooms, Wednesdays for laundry, and so on will allow you to stay on top of the cleaning tasks without overwhelming you.

There are several details to consider, which might include some of the following tips.

Decluttering your Charlotte Home — Decluttering in preparation for listing your Charlotte home.

Finding the Right Vacuum

No matter what kind of floors you have in your home, you’ll want to find a great vacuum that can handle any type of mess. Your pet’s favorite napping spot, high-traffic areas, and kids’ rooms might need a little extra love, so look for a vacuum that will work great on carpet, tile, and hardwood so you won’t have to switch back and forth between cleaning tools as you go. There are several on the market that won’t break the bank; do a little research to find the right one for your needs, and make sure you check out guides and read the reviews before you buy.

Clean Out That Clutter

You may have seen television shows that bring together a family with a professional clutter banisher, and often these shows focus on cleaning and organizing a single space. You can go through your entire house, however, and get rid of things you no longer want or need and tidy up. The key is to prevent the process from becoming overwhelming. Staying organized will help, so make sure you start by gathering all the materials you’ll need. Boxes, trash bags, cleaning supplies, and a large black marker will all come in handy. Mark each box so you can keep track of where the contents are going: trash, donation, or keep. Items that can be consolidated, such as photo albums that can be scanned and saved on a hard drive, can be packed away and put into storage; you can also go digital with collections.

Groom Your Pets

If you have pets, you probably know how hard it can be to keep things clean. One of the easiest ways to stay on top of cleaning around pets is simply keeping them properly groomed. If you have a long-haired cat or dog, take them outside to a secure area a couple of times a week and brush them well. During colder months, however, have a groomer cut their hair, as it tends to grow in thicker during that time. Keeping a towel or some pet wipes by the door to clean your dog’s feet after a walk will leave your floors looking new even during rainy season.

Use Storage Solutions

Many clutter and organizational problems can be solved with some clever storage solutions, especially if you have limited space in your home. Utilize bins, over-the-door organizers, and hidden racks that can be mounted inside a cabinet door to save room while keeping things neat and tidy, especially in the kitchen, bathroom, and garage.

Cleaning your home and getting it organized doesn’t have to require a Herculean effort. With some simple tricks and techniques, you can stay on top of your home’s chores without all the stress. Get the family involved to make the process even easier, and think of some ways to incorporate fun so that everyone will get on board, such as playing upbeat music.

Thanks to Eugene Williams, DIY Dad Extraordinaire for contributing this article.

For information on decluttering for listing your Charlotte home, let’s talk! Call or text (704) 491-3310 or email me at SavvyBroker@me.com

3 Reasons We are NOT Heading Towards Another Housing Crash

02/21/2019 by Debe Leave a Comment

3 Reasons Why We Are NOT Heading Toward Another Housing Crash

Almost DAILY I receive a call, text, email or Facebook or LinkedIn private message – “What is going on with the market? Are we headed towards another crash?” or “Is another recession in our near future?” or something akin to those questions. I can’t tell you how many people I have reminded NOT to listen to the ‘talking heads!’ Seriously, that’s all they are – they are speaking in general terms without any relevant data to back up their theories.

It’s very frustrating to an industry that is accustomed to combating the negatives, normally; we don’t need the help of the media or other ‘talking heads’ who truly have no clue just how local our industry really is.

With home prices softening a bit, I can understand, to some degree, that there may be a concern that we may be headed ‘toward the next housing crash.’ However, we are in a TOTALLY different market than we were during the bubble market we were in, twelve years ago.

Here are three key metrics that will explain why:

Home Prices
Mortgage Standards
Foreclosure Rates

HOME PRICES

A decade ago, home prices depreciated dramatically, losing about 29% of their value over a four-year period (2008-2012). Today, prices are not depreciating, rather the level of appreciation is simply decelerating.

Home values are no longer appreciating annually at a rate of 6-7%. However, they have still increased by more than 4% over the last year. Of the 100 experts reached for the latest Home Price Expectation Survey, 94 said home values would continue to appreciate through 2019. It will just occur at a slower & lower rate. This is great news for home buyers who are nearing being priced out of the market. In fact, many have been already and many more would be if the rate of appreciating continued at the fast pace it was over the past 3-4 years.

MORTGAGE STANDARDS

Many are concerned that lending institutions are again easing standards to a level that helped create the last housing bubble. However, there is absolutely NO proof that today’s standards are anywhere near as lenient as they were during the period leading up to the crash.

The Urban Institute’s Housing Finance Policy Center issues a quarterly index which,

“…measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan.”

Last month, their January Housing Credit Availability Index revealed:

“Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.”

FORECLOSURE INVENTORY

Within the last decade, distressed properties (foreclosures and short sales) made up 35% of all home sales. The Mortgage Bankers’ Association revealed just last week, that we currently have the lowest level of foreclosures in process since 1996 – less than 1%. That, to me, speaks the strongest to the point, we are nowhere near a recession.

Real estate statistics/data is hyper-local. Consult a local Realtor® for the local facts.

Bottom Line

After using these three key housing metrics to compare today’s market to that of the last decade, it becomes crystal clear that the two markets are simply nothing alike. We are likely in the midst of a much-needed market correction, taking real estate to a more neutral market than the sellers’ market we have been experiencing since 2013.

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It’s an Unprecedented Sellers’ Market

Is Now the Time to Buy a Retirement Home?

What is the magic age for retirement?

The new age of working remotely

Why Boomer Homeowners Are Making Moves Now

There’s a Difference Between Decorating & Staging – A BIG Difference!

Tips for Selling Your Charlotte Home in the Spring

Cleaning House: How to Tidy Up and Declutter Without Professional Help

3 Reasons We are NOT Heading Towards Another Housing Crash

3 Reasons Why We Are NOT Heading Toward Another Housing Crash

Here are three key metrics that will explain why:

HOME PRICES

MORTGAGE STANDARDS

FORECLOSURE INVENTORY

Bottom Line

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