Lake Norman Real Estate, 3rd Quarter Market Update 2010!
Never has it been so apparent that the overall US economy and the real estate market are closely tied. As we hear the news and the forecasts of a slowdown in the economic recovery, I am here to report the same news for the residential real estate market. However, there is a silver lining!
The first half of 2010 exceeded my expectations for activity. The extension of the federal tax credits provided the catalyst that pushed many buyers off the fence and we saw activity in sales and closings not seen for several years. Once June came, the activity has returned to levels of 2008 and 2009. In many price points, the 3rd quarter activity has been as low as 2003 units. So where is the silver lining?
The opportunity of a lifetime exists for a large group of potential buyers. Interest rates are once again at historic low levels hovering near 4.5% for a 30-year conforming loan. Inventory levels have risen again, providing plentiful choices in what is clearly a buyers market. If you have job security, good credit and a little cash to put down, don't miss this chance to take advantage of the best buying opportunity our generation will likely experience!
If you are curious about the real estate market activity in your neighborhood, I have an awesome tool, called my "Market Report". This tool provides you with a summary of every home active on the market plus a summary of the recent sales. The e-mail you receive features links to each property details page on my website as well as a statistical analysis of your neighborhood market. The feedback I have received is incredible! If you are interested in receiving this report from me, please call me, e-mail me or visit my Charlotte Homes website!
Best wishes for a fantastic (and cooler) fall season!
Saturday, August 21, 2010
Sunday, June 13, 2010
Charlotte NC– “New Heartland” of the Nation
Charlotte NC real estate a great investment.
A detailed study just released from the Brookings Institute in Washington names Charlotte NC as one of the country’s “New Heartland” cities - large metropolitan areas that offer the workforce a good quality of life and the kinds of jobs economists predict will move the U.S. forward in the years to come. The report, entitled “The State of Metropolitan America,” offers a glimpse of what’s expected to be the results of the 2010 Census. Here are some other quick statistics of interest on the Queen City:
Total population (MSA 2009): 1,701,799
Growth: + 27 percent
Change in foreign-born population (2000-2008): + 77.8 percent
Median household income: $55,394
Percent of population 25 + with bachelor’s degree: 32 percent
To read the complete report, click here
Call Sunny Yates to learn more about the Lake Norman Real Estate and Charlotte NC Real Estate
A detailed study just released from the Brookings Institute in Washington names Charlotte NC as one of the country’s “New Heartland” cities - large metropolitan areas that offer the workforce a good quality of life and the kinds of jobs economists predict will move the U.S. forward in the years to come. The report, entitled “The State of Metropolitan America,” offers a glimpse of what’s expected to be the results of the 2010 Census. Here are some other quick statistics of interest on the Queen City:
Total population (MSA 2009): 1,701,799
Growth: + 27 percent
Change in foreign-born population (2000-2008): + 77.8 percent
Median household income: $55,394
Percent of population 25 + with bachelor’s degree: 32 percent
To read the complete report, click here
Call Sunny Yates to learn more about the Lake Norman Real Estate and Charlotte NC Real Estate
Friday, May 14, 2010
Rebound in the Lake Norman NC Market?
Is this a true rebound or are we experiencing a brief improvement? Given the significant increase in activity in the Charlotte and Lake Norman regions, this is the question on everyone’s minds. Here are the stats comparing 2009 and 2010 through the end of April:
Charlotte region closed sales as reported to the MLS are up 14.5%. Lake Norman region sales are up 32.4%. Certainly cause for celebration.
Remember – we are comparing against what I perceive to be the bottom of the market in early 2009 and prices have just begun to stabilize. Activity has returned to 2002 levels. Pricing, while very specific to the neighborhood and the product is likely to be in that 2002 vicinity as well.
So, can we sustain the increased activity? I believe we can. Subject to consumer confidence, job creation and stabilizing prices, I believe we will see continued improvements. One interesting factor to consider – the inventory levels have not increased dramatically – thankfully so. Many homeowners find themselves with diminished equity due to the price declines of the recent past. With inadequate equity to move up, many are choosing to stay put. This helps to balance the market.
One last comment on foreclosures and short sales and their impact on the market. 70% of foreclosures nationally are within 5 states. Fortunately, North Carolina is not one of those states. Foreclosures can certainly impact any micro market; they are not having an adverse impact on the overall market at Lake Norman or in the Charlotte Real Estate. Certain neighborhoods might be suffering but the overall market remains stable.
As always, I welcome the chance to discuss your home and your neighborhood. Please call me or feel free to visit my website at http://www.sunnyyates.com/ where you can search for recent sales in your neighborhood by using my map search.
Charlotte region closed sales as reported to the MLS are up 14.5%. Lake Norman region sales are up 32.4%. Certainly cause for celebration.
Remember – we are comparing against what I perceive to be the bottom of the market in early 2009 and prices have just begun to stabilize. Activity has returned to 2002 levels. Pricing, while very specific to the neighborhood and the product is likely to be in that 2002 vicinity as well.
So, can we sustain the increased activity? I believe we can. Subject to consumer confidence, job creation and stabilizing prices, I believe we will see continued improvements. One interesting factor to consider – the inventory levels have not increased dramatically – thankfully so. Many homeowners find themselves with diminished equity due to the price declines of the recent past. With inadequate equity to move up, many are choosing to stay put. This helps to balance the market.
One last comment on foreclosures and short sales and their impact on the market. 70% of foreclosures nationally are within 5 states. Fortunately, North Carolina is not one of those states. Foreclosures can certainly impact any micro market; they are not having an adverse impact on the overall market at Lake Norman or in the Charlotte Real Estate. Certain neighborhoods might be suffering but the overall market remains stable.
As always, I welcome the chance to discuss your home and your neighborhood. Please call me or feel free to visit my website at http://www.sunnyyates.com/ where you can search for recent sales in your neighborhood by using my map search.
Thursday, January 14, 2010
Lake Norman Home for sale
Sunny Yates is marketing and selling this great Lake Norman NC home for sale.
139 Bayberry creek, Mooresville NC 28117, offered at $629,000.
This great Lake Norman home is located in the Farms community, Mooresville real estate, with low property taxes and great Lake Norman schools.
This Lake Norman home offers a gourmet chef kitchen with stainless steel appliances, granite counter tops, a luxurious master suite, 4 large bedrooms, 2 incredible bonus rooms and not to mention a custom built outdoor fireplace and outdoor grill.
Call Sunny Yates if you are interested in exploring some Lake Norman homes or Charlotte homes, as Sunny specializes in the Lake Norman real estate and Charlotte real estate market!
Take a look a the movie clip of this Lake Norman home:
http://www.youtube.com/watch?v=A7TFrbk2zWg
139 Bayberry creek, Mooresville NC 28117, offered at $629,000.
This great Lake Norman home is located in the Farms community, Mooresville real estate, with low property taxes and great Lake Norman schools.
This Lake Norman home offers a gourmet chef kitchen with stainless steel appliances, granite counter tops, a luxurious master suite, 4 large bedrooms, 2 incredible bonus rooms and not to mention a custom built outdoor fireplace and outdoor grill.
Call Sunny Yates if you are interested in exploring some Lake Norman homes or Charlotte homes, as Sunny specializes in the Lake Norman real estate and Charlotte real estate market!
Take a look a the movie clip of this Lake Norman home:
http://www.youtube.com/watch?v=A7TFrbk2zWg
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