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the reason the 900+ are doing well is because money is not an issue.If there is a good buy there are still multiple offers.
I would agree with that and add one caveat:
Many high up buyers are buying on contingency, OR haven't sold their own homes yet. There may be some fall back.
The $900k buyer may still be carrying a $500k house. Real estate takes a while to drop -it is a process, not a crash like the stock market.
Not Charlotte or Raleigh. I live in Charlotte and its definitely a buyers market. High Inventory and sales are down. Same thing in Raleigh. People want to move to these markets but can't sell their homes up north or in the midwest.
Great time to be a buyer in those markets...builders are struggling big time for cash.
I know 2 people that moved down there before it was popular & regretted it. One had a really hard time getting a job and had to move back. The locals knew he was from NJ and didn't like him due to that.
The other I know is a nurse (LPN IIRC), comes to NJ for 6 months to work, staying with friends or renting rooms. She's able to make more here then working down there. She also says that people automatically dislike her due to her accent.
Once you hear negative things like this, it doesn't make it as desirable to move to. People are now going to Tennessee and are reporting back that it's a good place to go.
I know 2 people that moved down there before it was popular & regretted it. One had a really hard time getting a job and had to move back. The locals knew he was from NJ and didn't like him due to that.
The other I know is a nurse (LPN IIRC), comes to NJ for 6 months to work, staying with friends or renting rooms. She's able to make more here then working down there. She also says that people automatically dislike her due to her accent.
Once you hear negative things like this, it doesn't make it as desirable to move to. People are now going to Tennessee and are reporting back that it's a good place to go.
I think w/all the transplants here (and more on the way) things are somewhat changing. Good or bad its inevitable.
Is Tennessee really that different than N.Carolina in terms of judging northerners? I'm not so sure it would be.
So far the ones I know that went to Tennessee are doing ok and haven't had a problem fitting in other then the kids being teased about their Jersey accents. The teasing isn't serious as the kids did make friends.
I would agree with that and add one caveat:
Many high up buyers are buying on contingency, OR haven't sold their own homes yet. There may be some fall back.
The $900k buyer may still be carrying a $500k house. Real estate takes a while to drop -it is a process, not a crash like the stock market.
How is the Market doing in your area?
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