When prices are falling, few people have the discipline to buy a house. But those that doo take advantage of the market tend to excel in the long run.
Let's say that you are emotionally ready to become a homeowner. You have good credit and plan to stay in your house for five years and have been waiting for the right time to buy. Now is the time before the interest rates start to rise!
Check this out...
Buy a house TODAY for $218,900. Put 20% down and get a 30 year fixed rate mortgage at 5.5%. Monthly payment will be $994.31.
Wait 12 months. Price drops 10% to $197,010. Mortgage rates are now at 6% because recession is endind. Monthly payment will be $994.94.
You save NOTHING by waiting a year and you've been throwing away your rent money every month!
If you already own a home and it appears you will be trapped for a few years, try to refinance at today's lower rates.
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( 2.7 / 102 )All you hear about these days is the real estate crisis which has hit the nation. So many areas are devastated because of the amount of foreclosures. Lenders are going out of business faster than you can blink. The average home values are falling. Sales prices are declining. It has become almost impossible to finance any type of real estate. This is not true in Charlotte, North Carolina.
Charlotte real estate is seeing almost a 6 ½ % increase in home values each year. This has been a slow and steady increase. It does not look like it is going to change any time soon. This steady increase, in stead of a fast market growth has allowed the Charlotte real estate market to grow quietly and steadily for many years.
With over 1 million people living in this city now, and 80,000 new residents each year, the housing market is growing. The average age for the new comers is the 25 to 34 range. This is the perfect group of people for business. Charlotte has business. They are the second largest city, next to New York for banking.
While the average home cost in America has fallen to roughly $187,000, the average home in Charlotte is on the rise. It is now estimated at around $225,000. So what will a quarter of a million dollars buy you in Charlotte? Room. Many of the homes available have over 5,000 square feet. Just to let you know, the homes are appreciating at almost twice the national average. This means Charlotte real estate is the perfect investment for anyone.
In January of 2008 homes in the Charlotte real estate market sold in an average of 78 days. This is a very short time frame. The time frame seems even shorter when you take a look at some of the national averages. The other great news is that 96.52% of these homes sold for the asking price. Ninety six out of every one hundred homes sold for the list price. In the wake of so much bad news about real estate markets around the country, these figures are fantastic.
More and more people are realizing their retirement dreams in Charlotte. Real estate is being bought by many seniors who changed their minds about Florida. It is reported that North Carolina is becoming the number one retirement state in the nation right now. The weather is perfect. The economy is booming. You have mountains on one side and the ocean on the other. There are so many things to do it is no wonder people are moving in and snatching up the Charlotte real estate so fast.
The economy is stable. The growth rate is steady but fast. There is no want for jobs in Charlotte. Real estate is being sold left and right to people who are advancing their careers when they move to Charlotte. Real estate agents are having to move quickly in order to house the population influx. Things could not be better. It is a breathe of fresh air to see how good the Charlotte real estate market is. It does not look like it is going to change any time soon.
By Ken Lutz
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( 3 / 86 )More press hits the market and it just goes to show you that Charlotte is by far one of the best places to live and BUY!! If you are looking for a great deal in a place where you can raise your family or just start your life!! Charlotte is Fun, and full of excitement that will keep you asking for more. Check out the statistics below. It goes to show you that CarolinaBuyersMarket.com is your place to find great deals on Real Estate.
#1 - Salt Lake City, Utah. Builders simply built too many houses!
#2 - Raleigh, North Carolina. Again, builders built ahead of the growing spurt. The economy is picking up so take advantage of the deals while they are available!
#3 - Orlando, Florida. It's a great time to take advantage of the "buyers market" in Florida. Orlando has so many houses on the market that you can pick and choose and deal to your hearts content.
#4 - Charlotte, North Carolina. The financial industry continues to move to Charlotte. This is adding jobs to the area but not quick enough to keep up with the unsold homes.
#5 - Phoenix, Arizona. This city has a high foreclosure rate.
Source; Matt Woolsey from Forbes February 2008
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( 2.9 / 79 )Charlotte Housing Market
Recently Charlotte experience a housing “boom” with a strong and steady housing appreciation…other areas in the country experienced dramatic increases in home prices. Now, Charlotte’s market is slowing and is facing drawbacks because of the more difficult economy and the influence of resale conditions in other cities.
Price appreciation has leveled and home sales have decreased compared to 2006, but not far. The current levels are similar to those of 2004… which was one of the top three years to date.
Permits for new homes decreased recently in Charlotte, leading to job losses and other cutbacks for local builders. However, the setback for new start permits will help moderate the market’s supply and demand as will the 65,000 new residents a year that come to Charlotte, which improve home absorption rates.
Experts believe the Charlotte market will bounce back by the summer or fall, the next five months will be one of the best times to buy. Once the market starts to recover, prices and interest rates will slowly increase as we sway from a buyer’s market to a more neutral position. The current Charlotte market provides an excellent opportunity for homebuyers with low mortgage rates as well as builder’s offering excellent incentives to heighten sales.
Charlotte’s market remains strong because of job and household growth, stable home appreciation, small foreclosure rates, and low investor sales.
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( 3 / 77 )Union County is the fastest growing county in North Carolina and one of the fastest growing counties in the United States. Indian Trail retains most of the county’s growth and is predicted to be the home of 90,000 residents by 2030, which will surpass Monroe in population.
Many of the residents living in Indian Trail and Monroe work in Charlotte or Mecklenburg County. Past statistics show it is important for Indian Trail to undergo timely strides to keep up its infrastructure with the growing population to make Indian Trail a first-rate town.
Charlotte is one of the few places across the United States with home values on the rise. Home prices rose 4.3% in October in 2007 when compared with October of 2006. Charlotte’s strong economy lends itself to the rise in home values. An average of 14,000 jobs were created in 2007 when compared to the 12,000 new jobs created in 2006. Many home sellers are not willing to make price-cuts to their homes to speed up the sale; most home sellers leave their homes are the market longer, which has led the average time of a house on a market to increase to almost 124 days.
Home prices may fall 10% over the next 12 to18 months nationwide, but will rebound in late 2008.
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