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11-29-2007, 03:21 PM
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Lets All Have New Beginnings in 2010
Status:
" Happiness is a form of courage. ~Holbrook Jackson"
(set 8 days ago)
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Join Date: Mar 2007
Location: The Old North State
10,562 posts, read 9,790,351 times
Reputation: 3908
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Mecklenburg foreclosures were up 145 percent
Mecklenburg foreclosures were up 145 percent to 899 filings in October compared with the same month last year.
N.C. foreclosure rate outpaces national average - Charlotte Business Journal: |
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11-29-2007, 04:35 PM
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Senior Member
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Join Date: May 2007
738 posts, read 620,094 times
Reputation: 262
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My brother just refinanced and their home lost $20K in value because it's in a neighborhood with Beazer homes and they're foreclosing like crazy.
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11-29-2007, 04:48 PM
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Senior Member
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Join Date: Dec 2006
Location: Charlotte, NC
380 posts, read 403,758 times
Reputation: 91
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Quote:
Originally Posted by Weedydidi
My brother just refinanced and their home lost $20K in value because it's in a neighborhood with Beazer homes and they're foreclosing like crazy.
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oh, NO! That's horrible. I'm going to just sit tight on my house for a while. Sorry to hear that, Weedydidi. |
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11-29-2007, 05:08 PM
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Senior Member
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Join Date: May 2007
738 posts, read 620,094 times
Reputation: 262
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Quote:
Originally Posted by 3johnsons
oh, NO! That's horrible. I'm going to just sit tight on my house for a while. Sorry to hear that, Weedydidi.
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Yeah, he's pretty bummed especially because HIS house isn't a Beazer home. At least he's not looking to sell anytime soon. |
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11-29-2007, 05:44 PM
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Real Estate Agent
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Join Date: Jul 2007
152 posts, read 130,761 times
Reputation: 127
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Quote:
Originally Posted by Weedydidi
Yeah, he's pretty bummed especially because HIS house isn't a Beazer home. At least he's not looking to sell anytime soon.
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Property values increased 4.7 percecnt in Charlotte though, best in the Nation ties with Seattle, hmmm.
http://www.charlotte.com/business/story/381404.html |
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11-29-2007, 06:34 PM
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Not a member
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Join Date: Sep 2007
Location: Wherever it is, I am sure it is cosmopolitan
674 posts
Reputation: 138
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Ahhh, the typical RE Agent-- 
That may be true, but due to the influx of people moving to Charlotte like mad, the trends nationwide hit us about 16-20 months AFTER they hit other areas of the country. Sunny's link proves my point-- this foreclosure debacle was big news everywhere last year and is JUST NOW hitting us. You just wait-- the market in Charlotte is cooling and we'll be cold in 18 months.
Recession is coming, folks. Face it. |
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11-29-2007, 07:00 PM
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Senior Member
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Join Date: May 2007
738 posts, read 620,094 times
Reputation: 262
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Quote:
Originally Posted by Charlie Berry
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Not in my neighborhood. My beautiful home with REAL hardwood floors, granite, KitchenAid stainless steel appliances, and brand new carpet has sat on the market for 90 days now. |
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11-29-2007, 07:06 PM
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Senior Member
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Join Date: Oct 2007
Location: Highland Creek, NC
393 posts, read 296,473 times
Reputation: 95
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So what does this mean for me, a buyer in 6 months?
Will getting a mortgage be impossible?
Will I be better off looking at used homes, vs. homes yet to be built?
Just wondering if the market in 6 months (need to move to Mooresville area in June) will be so cold that the sellers will pull properties off the market?  |
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11-29-2007, 07:13 PM
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Not a member
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Join Date: Sep 2007
Location: Wherever it is, I am sure it is cosmopolitan
674 posts
Reputation: 138
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I am in the same situation, looking to move in 6 months. I have a house to sell, but since I bought really low to begin with, the pressure is not on me like other sellers to make a sale on something I bought at the height of the market that may fall in value in 6-18 months.
If you are not a person with messy credit, then mortgages should not be a problem. You are the BUYER, meaning you have the power. As far as used vs. new, I am pondering that myself-- looking at both. If the builders I am looking at won't come down at least 20k from what they are asking now, screw 'em. One builder I am looking at did that for a short time last week as a "special"-- if they won't honor that same pricing in a couple of months, there will be plenty of other options for me, the buyer.
One of the "used" homes I am looking at was purchased by current owners less than 18 months ago and they are asking 25,500 more than they bought it for. HAHA, NO WAY. I will ask them to come down at least 10k, or I will keep looking.
In short, you as the buyer will have the power, so don't worry.
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11-29-2007, 07:15 PM
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Realtor®/Broker
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Join Date: Sep 2007
Location: Charlotte
8,933 posts, read 3,402,311 times
Reputation: 896
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Quote:
Originally Posted by ncisgreat
Ahhh, the typical RE Agent--
That may be true, but due to the influx of people moving to Charlotte like mad, the trends nationwide hit us about 16-20 months AFTER they hit other areas of the country. Sunny's link proves my point-- this foreclosure debacle was big news everywhere last year and is JUST NOW hitting us. You just wait-- the market in Charlotte is cooling and we'll be cold in 18 months.
Recession is coming, folks. Face it. |
Interesting theory. Nothing substantiates it, but interesting nonetheless. |
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