Charlotte NC, Concord, Kannapolis Real Estate

Why have real estate values held up in Charlotte NC?  This is a question that I am asked several times each day. Locals are curious, investors are deciding where to spend money, relocating folks want to know why in the world this real estate market isn't tanking like the one they're leaving.

First of all, you have to understand that Charlotte NC was never one of the 'bubble' markets.  We didn't have 20%, 30%, 40% gains year over year.  It just didn't happen here.  Why?  In a nutshell, new construction and available land.  Think about it-if you as a homebuyer are faced with two options which are very similar except that one is brand new and one is 5 years old, which will you buy?  The new one, if the prices are anywhere in the same ballpark.  In the Charlotte region, we have had an abundance of buildable, available land, inside of a 30-45 minute radius of uptown/downtown/center city Charlotte.  That's a reasonable commute time for just about everyone, so new construction has made sense.

We did see a pickup in the resale market after Hurricane Katrina, when the costs of raw goods skyrocketed due to increased demand.   The builders were just responding to cost increases for sheetrock, drywall, lumber, concrete, paint, etc.  And then resale became the much better value.  But a pickup in this area means 5-7% gains as opposed to 3% gains.   Still not in the region of 30% gains that were seen in California, Arizona, Florida.

So when the markets began to normalize-and that's the situation, not a tanking, a normalization- Charlotte NC stayed stable.  When you don't spike up, you don't spike downward either.  Thank heavens.

There are other reasons Charlotte's real estate market is stable.  We have a net population gain year over year.  We have low unemployment coupled with positive job creation.  We have a highly educated workforce and affordable, available ongoing educational programs in the area.   We have a low cost of living.  We have affordable housing for the most part.  We have strong public schools.  We have a temperate climate.  We have a favorable tax and political structure for businesses.

Add these things together and you can begin to see why I describe this market as a blue chip investment.  And blue chips are a part of any investor's portfolio.  Perhaps not the whole thing, but everyone needs something stable that is on a continuous increase.

Still don't quite understand?  Come visit us.  Once you see the area, experience the friendliness of the residents, enjoy the sunshine and the available activities, you might just understand why Charlotte is a smart place to buy right now or whenever the time is right for you.  Need more info or have more questions?  Email me, I'll be glad to help however I can with your buying, selling, or investing needs.

If we put any credence to what some buyers think, there might be. 

Many folks hear about the great real estate values in the Charlotte NC area.  In their minds eye, they are picturing Tara (even though Gone With The Wind was set in Atlanta, some 4 hours south).  They see a full front porch, two-story home, on 5 acres, with a basement, a two or three car garage, fully updated, and in the best school district available.

Oh, and they want to pay $150,000 or less for it.

Then, when we cant find it (or anything even closely resembling it), were the bad guys.  These buyers ask if were SURE that their dream house isnt out there somewhere (well, maybe in Alabama but I cant verify that rumor). And cant we keep looking, since theyre just positive they saw something like it on the internet?

I promise, there is no conspiracy theory.  I am not hiding your perfect house from you.  Trust me-if I could find you that perfect house, why would I choose NOT to sell it to you?  Realtors who are working as buyer agents only get paid here in North Carolina at closing-after youve located a great house, passed inspections and appraisals, and the loan has been blessed.   Until then, were on the hunt.  If you go back to elementary logic, it makes no sense that we would be hiding a house from you which you might buy.

I know that you heard about our great values-and yes, when you take into account the positive job creation in Charlotte, the low tax thresholds, the strong public schools, the lovely four-season climate, the low cost of living-we ARE a great value.

Doesnt mean that houses are free, though.  The last thing I want to do is break your heart-so when I search and find nothing, then discuss with you where your compromise might lie, dont get angry with me.  My job is to find the best house within your budget and to be HONEST with you during the process.  Would you rather sit on the sidelines as the market continues to move up, as you search in futility for a house that doesn’t exist?

So you have a darling little ranch home in a very established and desirable community, just north of Charlotte NC in the little town of Harrisburg NC.  Folks flock to Harrisburg NC because of the low property taxes ($0.84 per $100 assessed) and the fabulous public schools and the mere 20 minute commute into uptown/downtown/center city Charlotte NC.

You put that lovely home in Harrisburg Park on the market.  It sells in three days (yes, some houses in our market still sell quickly, if you want to buy a home in Harrisburg NC you need to be ready to make a decision).

And then, one week before closing, that call comes in.  You listing agents out there know THAT call.  The one that reminds us to tell sellers NOT to spend their money until the deed has been recorded and the check has cleared the bank.  Your heart sinks, because you have to call the seller and tell them that closing isn’t going to happen.

In this particular situation, it’s hard to be mad at the buyer.  See, she was separated from her husband, and they decided to put the marriage back together.  So that’s a happy ending for the buyer-it’s always good to see a family that decides to give it a fair shake!

Luckily, we had two buyers in the wings who were hoping against hope that the house would come available again (there is very rarely anything on the market in Harrisburg Park and when something comes up, it gets snapped up FAST.).  Both of them came out at the drop of a hat last night.  Of course, they both wanted the house.

So less than 24 hours after the original buyer termination, we had two new offers on the table.  And the seller is quite happy with the outcome.  She didn’t sleep much last night, neither did the potential buyers, but we now have a patched-up marriage, a happy buyer who got the dream house they had been wanting, and a seller who didn’t skip a beat in her move.  One sad buyer who lost out in the multiple offer situation, but we will find them another great home.

All’s well that ends well in Harrisburg NC.  If YOU are thinking of buying or selling a home in Harrisburg NC, you know who to call.  Leigh Brown knows the area-lives here, works here, shops here-and she can sell your home, too.

***Caveat-this is not a normal situation and we can not guarantee that you too will have multiple offers on your home. We’ll try our darnedest but we just can’t make the darn crystal ball work all the time!***

And why should you pay attention?

Well, if you live in Harrisburg NC already, we know that you’re just seeking news and intrigue about the town.  Small towns have that special flavor that the big cities (like our beloved Charlotte NC) just can’t seem to bottle up.  Harrisburg is perfectly located, just north and slightly east of uptown (downtown?  center city? who knows?) Charlotte NC, but over the Cabarrus County line which results in these low property taxes and superb public schools.

No, we’re not uppity-just because our average home price is 23.3% higher than the average home price in Charlotte NC.  

No, we’re not snobs-just because we successfully fought to keep Wal-Mart out of the center of town.  (I mean, come on, we’re a town of a little over 10,000 souls-a Wal-Mart in the center of town would have totally destroyed our balance with the increased traffic and crime and noise etc.)

For you folks who are new to Charlotte NC and are in the process of discovering and evaluating the outlying areas in an attempt to find the best spot for settling down, you’ll be hearing about Harrisburg NC.  You can keep your commute times low, be within 10 minutes of Concord Mills mall, send those future generations to top public schools, get a lot of house for your money (see below), and still see familiar faces at the Harris-Teeter when you’re doing your grocery shopping!

This great home for sale in Harrisburg NC is located in the Abbington neighborhood, off of Rocky River Road just east of I-485.  A full-brick home, custom designed and built by one of the area’s premiere builders, Grady Cook, with full finished basement and a huge lot…still under a million, asking price $950,000.

Come see today why Harrisburg is a breath of fresh air in the quickly growing Charlotte NC real estate market.  See why this Realtor, Leigh Brown, makes Harrisburg NC her home.  (and you’ll also quickly see why it’s also one of my favorite micromarkets for real estate investment).  Call today for your private showing of this exquisite home, or for more information on buying or selling a home in Harrisburg NC. I’m always glad to help!

Dear Mr/Ms Top Professional Realtor:

I love y’all, I really do.  I can’t begin to tell you how much I’ve learned from you in my eight years of full time real estate, as together we’ve handled several hundred clients in various stages of relocation to and from Charlotte NC.

Often I’ve received a contingent offer, and in doing my due diligence for my sellers, have had a chance to hear your take on the current market in your area-without the fluff of the liberal national news media.  And it’s always much appreciated-it certainly helps me in presenting the offer to my sellers!

Here recently, though, it seems that your method of comforting your sellers in Florida or Michigan or Ohio or California is working against those lovely folks here in the Charlotte NC area.  When a seller in your market is fortunate enough to have a buyer with whom to work-but the price isn’t what they wanted (I mean, is it ever for any of us?)-they’re getting a pat on the back and a pat reminder that:

                 “I know you took a bath here on this house, but since it’s a true buyers’ market, you will be able to do the same thing to the seller on the house you purchase!”

And as much as I love getting a great deal in the negotiation for my Charlotte NC buyers-with the average list price to sales price ratio in Charlotte NC hovering around the 97% mark (some areas are down as low as 96.4%, some closer to 98%), those big discounts aren’t realistic.  Now, some builders are offering great deals-but of course it depends on the builder, the location of the new construction, and the price point. 

The hot spot in the overall Charlotte NC real estate market is the under $200,000 price point.  These buyers are the ones who are much less likely to be saddled with a property elsewhere that needs to sell, and they’re able to really maximize their money in the current low interest rate environment.  A house that is priced properly, and is in top condition (not to mention it may have sellers who make it available for ALL showings), will sell-and likely it will be quickly.

So please, don’t make promises that I can’t keep-I hate broken hearts.