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Old 04-29-2008, 02:39 PM
 
Location: Up above the world so high!
45,270 posts, read 88,286,039 times
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Quote:
Originally Posted by jp03 View Post
Ok..try selling your house
Houses in my neighborhood are selling quite well - 3 went under contract spring break week alone. I have no doubt were I to put mine on the market it would sell without a problem.
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Old 04-29-2008, 02:40 PM
 
175 posts, read 494,646 times
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Well, we've been listed for 8 weeks and we are over the 750 range. We have had a ton of showings considering the market is slow. We had 5 or 6 last week and one offer that we did not take.
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Old 04-29-2008, 02:41 PM
 
Location: Uptown CLT (4th Ward)
2,560 posts, read 7,707,022 times
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Quote:
Originally Posted by lovesMountains View Post
Houses in my neighborhood are selling quite well - 3 went under contract spring break week alone. I have no doubt were I to put mine on the market it would sell without a problem.
Same here. Have no doubt that ours would sell quickly too. Agree with loves.
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Old 04-29-2008, 02:45 PM
 
Location: Up above the world so high!
45,270 posts, read 88,286,039 times
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Quote:
Originally Posted by the 7 oh 4 View Post
Same here. Have no doubt that ours would sell very quickly. Agree with loves.
It really is like you said earlier, LOCATION, LOCATION, LOCATION, but also the price range, as I believe at the moment (excluding uptown) homes under $300,000 are more in demand than higher end homes.

No one is claiming ALL homes in Charlotte are showing a rise in prices, we know there are areas that are struggling. But there is this bit of good news amidst the bad and I think it should be celebrated
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Old 04-29-2008, 02:49 PM
 
Location: Uptown CLT (4th Ward)
2,560 posts, read 7,707,022 times
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Quote:
Originally Posted by lovesMountains View Post
It really is like you said earlier, LOCATION, LOCATION, LOCATION, but also the price range, as I believe at the moment (excluding uptown) homes under $300,000 are more in demand than higher end homes.

No one is claiming ALL homes in Charlotte are showing a rise in prices, we know there are areas that are struggling. But there is this bit of good news amidst the bad and I think it should be celebrated
AMEN!

Location, location, location.

You are in a superb area Loves!
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Old 04-29-2008, 03:05 PM
 
210 posts, read 540,416 times
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It's good that Charlotte is doing better than most places, but there are two things worth noting about these numbers. First, the 1.5% increase is a year-over-year number, so if homes aren't selling as well now, it won't show up as quickly. Month over month, sales are down, and we'll be negative year over year pretty soon if trend continues. Second, 1.5% is negative if you adjust it for inflation. I don't like & I'm not cheering for it, but that's the way it is.
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Old 04-29-2008, 03:18 PM
 
Location: Right where I want to be.
4,507 posts, read 8,007,347 times
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Quote:
Originally Posted by sheenie2000 View Post
i've been looking at homes, and all of them were on the market for a very long time and ALL had price reductions. A few of them sold though. But some were taken off the market bc they were there for so long. I did however put in an offer on a house and lost. I was surprised about that one.
I like to look for fun only, and it seems to me that some sellers never understood that Charlotte housing market did not have the 'boom' that other areas experienced. They thought they could price high and still sell. No, they were too high and sat on the market for a long time, maybe even had price reductions. Houses priced right have been selling, but at a slowed pace.

We know one family who bought high and ended up having to sell low. It was not the market that did it, the sellers were fishing with a high asking price and these folks took the bait. It is in a nice area, desirable school district. After a year they needed to sell, it took a year on the market and they got 28K less than they paid, plus they sunk 40K into repairs and updates to the property that they didn't get back. That is NOT representative of what has been going on in the market here.
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Old 04-29-2008, 05:52 PM
 
160 posts, read 357,685 times
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Don't forget that charlotte is a banking town. Things have been very good in banking over the last decade. There may not have been a better industry to be in during that timeperiod. Healthcare, maybe.

But in case you don't read the news, the banks are taking huge hits this year. And that trend has only just begun. Layoffs will eventually hit the charlotte banks, and when they do, the housing market will suffer.

IMO, this entire country is in a lot of trouble with regards to the economy. I can see a very long recession/borderline depression for this country in the coming years. Charlotte's housing market has doen great over this last year to try and hang on, but the wave of mess this country is in will be too much for even a stable market to overcome. Eventually, it will be swallowed up like the rest of the country was.

Unless you need to sell, I'd just hang on for a while.
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Old 05-01-2008, 08:00 AM
 
1,907 posts, read 4,445,730 times
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.
Geezers like myself have lived through this before. It happened in the early 80's, early to mid 90's and now mid to late 00's. It usually lasts a couple of years. I don't have to move any time soon, so I'm not worried. I feel fortunate to be in an area where prices have not dropped nearly as low as the national average and in some cases have even risen. Hey Donald Trum is no financial dummy. If he's even thinking of coming here, then this place is "the place to be". Lets all try real hard not to do anything to screw that up. Thanks for listening.
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Old 05-01-2008, 09:50 AM
 
1,907 posts, read 4,445,730 times
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OOps, I was referring to cagmans quote above me. Must have hit the wrong button.
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