Charlotte Real Estate Housing Market Report

Charlotte Real Estate housing report*...whew!

We're not reeling, but we're not moving upwards, like we had been for the past four months.

September closings (1,945) were down by 12.4% over the month of August (2,221). Even our average sales price dipped down by 6%.

September sales averaged $196,760 whereas August sales averaged $209, 245. Sales are down, but not down and out.

This is not a unique performance for the housing market this time of year. The fall is a traditional season with a traditional decline in home sales and real estate activity.

For the Charlotte market, we fared no differently. Contracts (2,199) for September 2009 have declined by 9.7% over the fine month of August where home contracts totaled 2,434.

The average time a home spent on the market was only three days less than last month...which was 115.7 days...this from its "active" status until the time it went "pending (under contract)".

In the national scheme of things, that is overall pretty darn good! Still, we have a lot of Charlotte homes coming on the market. In September alone, 4,701 new residential real estate listings came aboard! The market changes daily.

Charlotte sellers listed pricing has come down a bit as well. In the month of August, the average list price of a "sold" property was $234,504...and in September this price had dropped down 6.2% to $219,925. Quite a dip in just one month!

The first time home buyer tax credit, has helped stimulate not just one, but two levels of housing. The first time home buyer, and the first time home seller (who then became a second time home buyer).

As seen by our dip in pending residential real estate contract numbers, the surge that took place, has pretty much run its course. For first time home buyers that procrastinated, you may have just lost out on one of the best deals going. (Unless, of course, it comes back again.)

Why? The ability to get a loan processed to close by November 30, 2009, has just about come to an end. The loan processors typically need a good solid 45 days to make it happen!

Was the tax credit a success? You be the judge. The National Association of Realtors®, states as many as 350,000 home sales this year can be directly attributed to the $8,000 first-time home buyer tax credit.

That's a lot of first time home buyers, who may never have even contemplating owning a home before.

The big question? "Will there be a tax credit extension?"

The big answer, "Maybe, maybe not."

If you were one of the many first time home buyers that did not have your 3.5% saved up for a down payment, hopefully, the stimulus package has motivated you to get that savings put together (just in case).

And, those that were locked in to leases, perhaps your lease is coming up for renewal. Go month to month (just in case).

Buyer beware...if the $8,000 tax credit comes back again...hopefully, you, too, will then take part in the American dream, your own home.Until then, it is something wonderful to dream about and plan for!

*The numbers used in this September 2009 residential realty report became available on October 8, 2009, courtesy of the Charlotte Regional Realtor® Association based on Carolina Multiple Listing Services, Inc. (CMLS) data covering the Charlotte region
Jane Francis Cross 704-608-0228Broker/Owner Homes by CrossServing Charlotte NC Real Estate and Relocation Needs since 1994.

Tick-Tock Crazy with my Time

It's just incredible...today is Thursday.

Weekends blend with weekdays, and hours blend with days, and the minutes blend into the hour, and my to do list at the end of each day has a few more things added to it...and a few more things checked off of it.

Every week absolutely flies by. To look at the calender and see that it is once again Thursday, and close to the end of yet another month, drives me absolutely crazy!

There is always so many things that I want to get done. Not only are we close to the end of another month, but we are close to ending another year.

To top it off? I keep getting older....which is better than NOT.

Do I sell Charlotte real estate? Heck yeah, I do! This business has sent many a rookie Realtor back to whence they came. Not me.

The craziness of the schedule and the multi-tasking, and the need to keep up with so many things are exactly what I thrive on.

But, really, had I known then, what I know now, would I be in a very different place than this?
Back to my list, the clock is ticking and I am burning daylight!

Jane Francis Cross 704-608-0228
Broker/Owner Homes by Cross
Serving Charlotte NC Real Estate and Relocation Needs since 1994.

Charlotte Homes for Sale-Vacant or Abandoned?

What's the story?

With lots of Charlotte homes for sale, some are vacant, others appear abandoned.

Your house didn't sell in the projected time period. Your timing was off.

So, you ended up with these three choices:

1. Take the house off the market and postpone the move
2. You live in the new place, your wife stays behind until it sells
3. You pack it in, move, and hold two mortgages while waiting for a buyer

For whatever the reason, you went with Choice #3.

Time has moved on and your new home is just swell. Things are a bit tight-no extra money- as it goes dutifully over to your vacant homes mortgage. You start resenting the old house. The new home is new, and it is receiving the love it deserves.

SELLER BEWARE: Vacant homes become jaded. They figure out ways to get your attention.

Pipes mysteriously burst into the night, floor boards buckle, a strange smell comes through the home...and then the weather sets in to aid the house on its singular mission...to get you to pay attention to it!

A slow leak in the roof, loose shingle...the leaves are piling high, the spiders have found a new home, and even the neighborhood squirrels are nesting. It's just nuts!

Signs of an ABANDONED HOUSE:

cold
dark, dank, smelly
a little grimey
beeping CO detector (batteries dead)
yard in dishevel
the look of neglect

Signs of a VACANT HOME:

a comfortable room temperature
clean and shiney (windex, windex, windex)
a pleasant smell in the air (air fresheners-nothing overwhelming)
blinds, slightly tilted (letting a little sun shine in)
a few pieces of furniture
night lights placed strategically throughout the home
yard remains groomed ( a service, a neighbor)

::::::::::::::::::::IN THE EYE OF THE BUYER ::::::::::::::::::::::

They loved the vacant home, it shows well.
The deserted house: frankly, if you don't care, why should they?


Jane Francis Cross 704-608-0228Broker/Owner Homes by CrossServing Charlotte NC Real Estate and Relocation Needs since 1994.

Charlotte Real Estate Seasonal Selling Tips

Charlotte homes for sale are still aplenty! The good news?!! The Charlotte real estate market has been on an upswing for the past five consecutive months. Cross your fingers, hope and pray, and follow some of these seasonal selling tips to get a bit of an edge on your immediate competition and get your house sold.

Each season brings in the need for a new home photo...not the interior, the exterior! If your home has been sitting on the market since Spring, it is probably time to snap a quick photo of your home on a pretty fall day, and email it off to your listing agent. You may prefer your agent drive out and get the photo themselves, and you may insist that it is their job. Sure it is! But, a helping hand, and the ease of walking outside while the sun peeks out, is in your best interest. So, why not?!! Snap it, and send it off via email.

Falling leaves, falling leaves...another point to ponder during the change of seasons, is to keep the leaves off of your sidewalk-folks slip and fall (okay, I slip and fall) when racing up a leafy sidewalk on a drizzly grey day. You're objective (as the home seller) is an offer to purchase, not a law-suit. My objective (as the Realtor) is to show the home, not lay there on the ground while my clients call for an ambulance. Yikes-my bruised ego!

With Halloween around the corner, yes, it is fun to decorate. I, myself, am a master with spider-webs...both real and fake. It's an art form, you know. However, too much of a ghoul thing is too much. If the graveyard groans coupled with murderous screams and bats flying from your trees seem like a paid Halloween spook show, tone it down. Remember, we're trying to sell your house, not Halloween. You may scare the buyers off before they even get out of the Realtor's car... On a side note...candy (chocolate) in the foyer is nice:) and, I promise, we won't take the whole bowl!

Show and Sell.
This is a seasonal post, so seasonally (and seriously), it tends to be a bit darker in the fall and winter months, shed a little more light on your interior with uplights or end table lighting that you would not normally leave on during the Spring and Summer months. For early evening showings, please leave your front porch light on. It is very dark out early, and we do need to put the key in the keyhole! 'We'll leave the light on for you', is more than just a Motel 6 slogan. It's a welcome to my home- we were expecting you. A very nice welcome, indeed.

What about Show and Smell?
You can't sell it, if you can smell it. Well, true in a sense. But, it depends entirely on the smell, doesn't it? Pumpkin Spice and all that is nice brings the warm feeling of home right into your house. Any scents that bring this season in have the potential of your home beating out your closest competitor...on the buyer's top pick list. (Of course, you want an offer, but to get an offer, you have to be in the top picks category-remember, there are a lot of Charlotte homes for sale!)

This can be a very opportune season to list your home. To be sure, fall and winter offer a bit less traffic in the way of home buyers. The reality is this: it is far less competitive for the seller; not as many homes on the market for a buyer to choose from (as in the spring). The last quarter of the year is also when a lot of businesses will be hiring and relocating their mid-level management executives as well as their top tier executives. On that note, those that buy in the fall, are usually pressed to buy. Gotta move-gotta go.

Home and hearth-A Holiday Glow.
Most home buyers choose the home they buy, because they felt at home when they first entered it. Homes tend to show beautifully, as they are groomed for the holidays. Enjoy what makes your house a home during this season. It may be just that element that brings the buyer to your door. Remember, home is where the heart is, particularly during the holidays.

Jane Francis Cross 704-608-0228
Broker/Owner Homes by Cross
Serving Charlotte NC Real Estate and Relocation Needs since 1994.

Charlotte's Greenway System

As stated earlier, our Charlotte real estate market is slow.
Luckily, one of my listings did have an offer come in on it a
day ago, so we are currently in the throws of negotiating
the details out.

We should have it wrapped up by days end. Nothing is sold, until it is closed. Nonetheless, a hopeful start to another potential paycheck!

It is a glorious October day in Charlotte-to stay inside would be sinful. Thankfully, my husband and I have gotten into a pretty strong walking routine using the Charlotte Mecklenburg Park System-specifically-the 'greenway'.

The greenway in Charlotte is really fantastic. Claude and I try to walk this every day...as do many others. Those that are not familiar with it are missing out on one of Charlotte's crown jewels.

The system wrapps around the backside of Charlotte homes, as boardwalks and trails guide you through a thicket of wildlife, trees, swamp areas, small lakes, winding streams and plenty of wild life.

Just this past Tuesday, we saw a fawn, followed by four other deer. We stopped and stared...they stopped, and stared. They were within 20 feet of us. They continued grazing and nudging one another forward through the brush. It's a great little sighting when you live in the midst of suburbia. At the end of this particular trail...is Starbucks. What can I say...it's Charlotte!

If you live here, and you haven't done so yet, set some time aside to check out one of the many different trails provided to you by your tax dollars. You should be able to find part of the Charlotte Mecklenburg Greenway Park System near you!

The Pace of Today

The daily jog of life as a Realtor, once very busy, is now just a lumbering pace for us.

The Charlotte real estate market is slow, all energies put forth are towards the accumulation of more 'work'. Like many in or related to the real estate industry, there is currently a lack of 'need' for our services as folks continue to stay in their holding pattern.

Here I sit...poised.
An early retirement to join my sister in Florida would be nice...but she is rather costly to hang out with...so...

No work-No retirement.

In its place, I have been learning more and more (and ever more) about the workings of the Internet. This, I have found, to be very intriguing, frustrating, mind-boggling, challenging, and quite addictive.


The biggest thing that I have learned: Had I known the amount of technical knowledge that I lacked, I would not have bothered to jump in. Fortunately, we have all the tools we need to harness some of this knowledge. It's called Time on my Hands and the Internet.


My estimate is that our listings, our Charlotte homes for sale, will pick up some speed...prior to me pulling all my hair out...give it a few more months!