Mecklenburg foreclosures were up 145 percent

[ncisgreat]

Charlie, we are probably more on the same page than you think.

Nevertheless, I could not resist making this picture for our enjoyment:

http://img221.imageshack.us/img221/5489/hahara4.png (broken link)

[CouponJack]

Originally Posted by Charlie Berry

NChowever, your lack of ability to challenge my position with anything but the aforementioned has led me to believe you are nothing more than the majority, you listen to what the talking heads say as a generalization and believe it, I:

Charlie, I gave you facts. Actually I gave you average sale prices (down YOY) and # of units sold (-23%).

The only thing you've presented is median sale prices which is as you know a misleading and unreliable indicator on how a market is doing. (Most realtors would agree w/me on this)


Again, do I think Charlotte will get punished as bad as the Florida's, New York's, and California's? Absolutely not. Will Charlotte though go through a prolonged slump and downfall as long as these markets are going down the tubes for sellers? Absolutely.

I don't think we disagree on where things are going. I think we disagree on the severity and length of the downfall this market will face. turnout

[Charlie Berry]

Originally Posted by ncisgreat

Charlie, we are probably more on the same page than you think.

Nevertheless, I could not resist making this picture for our enjoyment:



http://img221.imageshack.us/img221/5489/hahara4.png (broken link)

Ahhh, That is Fantastic NC, thank you, I can hardly wait for my Pagasus' health to return so I can take my ride through the rainbow sky too!!!

[MikeyKid]

Hoping your Pegasus feels better fast...

Two things that are pertinent here.

Been stated on many occasions that the higher priced homes are not being impacted nearly as much. The rich are remaining rich through this whole thing... it's the middle classes that are getting punished. This heavily skews median numbers - if you are a Realtor specializing in the $1m homes, you're not being hit as hard as someone who generally gets the 300-400k ones.

Secondly, the Charlotte area is known for its potpourri of transplants. The statement that "real estate is LOCAL" applies much more to areas where people are selling to re-buy LOCAL. People are selling NATIONALLY to re-buy in Charlotte... So throwing out trends /statistics and ignoring them seems flat out foolish.

[Get-Smart]

I agree slow appreciation will keep the local market from bust.

[SuperchargedSS]

good thing for renters!!