Friday, July 28, 2017 / by Marketing Team
Charlotte and US Home Sales Are Slowing As Inventory Drops
Home sales across the U.S. have now dropped to a low 4.3 month supply, according to the latest report from Freddie Mac. However, year-over-year still shows the pace up 0.7%, for a total of 5.52 million annually. This means that while fewer houses are on the market than ever before, the demand still is high for buying and selling a home.
If you live in or are moving to North Carolina, here’s what you need to know about North Carolina real estate:
Interest rates are really low at just 3.92%, even as home prices have gone up 6.5% year-over-year to a median price of $153,400 in North Carolina, and $185,800 in the city of Charlotte, both lower than the current national average of $263,800.
With the help of a real estate professional to stage your home, closing on a Charlotte home can be done in an average of 52 days.
WalletHub ranks Charlotte 88th in the real estate market, making it the 70th best ...
Tuesday, July 18, 2017 / by Marketing Team
Buy Your Charlotte Home Instead of Renting
Owning a Charlotte home has plenty of advantages, including the impact to your finances. When you live in Charlotte, NC, you have access to everything you need whatever your lifestyle entails. Make it that much more meaningful by buying a Charlotte home so you can reap these benefits:
Paying a mortgage is cheaper than renting. In the first quarter of this year, the trend for home ownership was higher than renting for the first time since 2006. This reversal from renting to owning has continued to benefit the housing market in 2017. 854,000 homebuyers from across the country saw just how affordable it was for a 30-year fixed rate mortgage over renting, and 42% of them were first-time buyers, making the national homeownership rate climb to 63.6%! Currently, the interest rate is low at an average of 4.25%. For renting to be the more affordable option, the interest rate would have to reach 9.1% ...
Tuesday, July 11, 2017 / by Marketing Team
National Real Estate Experts Recommend Buying Your Charlotte Home Now
Across the U.S., the real estate market is flourishing as more and more millennials become first-time homeowners and move-up buyers. And since they flock to where the economy is thriving, that’s why the top 25 cities where they are moving include Charlotte, which is ranked 18th according to the Urban Land Institute. But that’s not all. Homes in the region make it a “hot” market right now, for everyone, and not just millennials.
Here’s what the experts have to say about real estate in the Queen City:
Homes are in such high demand that not only are they selling much faster than they usually do – at less than 100 days from listing to closing – but there are fewer homes from which to choose, increasing bidding wars and the prices as a result. Therefore, Charlotte remains a seller’s market, where homeowners are able to earn as much a ...
Thursday, July 6, 2017 / by Marketing Team
Why Charlotte Isn't in a Housing Bubble
Across the U.S., the demand for more housing options has been prevalent in the most sought-after cities, with Charlotte, NC being one of them because of its location in the Southeast being such an affordable region in which to live. Despite the speculation in the real market with low inventory and high demand for homes, Charlotte is not experiencing a housing bubble.
Here are 3 reasons why potential homebuyers can remain confident in what Charlotte real estate has to offer:
1. Standards for obtaining a mortgage have since changed from what they were in 2007.
Back when the nation-wide housing bubble existed, lenders’ standards were much too lenient in who they allowed to obtain mortgages. There were people who were not qualified to purchase a home but were given the ability to anyway.
As a result, prices soared, as did the demand, and markets tended to overproduce so that two problems quickly esc ...
Friday, June 30, 2017 / by Marketing Team
Your Rent Could Be More Than A Mortgage Payment
In the U.S., rent costs have been rising to the point where they are now close to 50% more than what the average cost of buying a home would be if renters maintained the same housing expenses. Around the country, Zillow reports that renters typically pay around $1,416 per month, which equates with the same monthly expenses needed to maintain a $289,505 home, while the average U.S. single-family home is valued even lower at only $196,500. It’s no wonder that rent is considered to be more expensive than owning your own home!
With threats to housing affordability affecting each state, renters in some locations must pay as much as half of their income because of the real estate market in their area. Despite it being cheaper to pay a mortgage on a monthly basis, many renters still hold back from becoming homeowners because they can’t afford to make a down payment on a home.
However, it is important to not ...