Cabarrus County / Charlotte Metro Real Estate And Community News

 

Jan. 13, 2022

Matt Leaving Real Estate & 2022 Predictions

Well the big news in our family (and on our team) is that Matt is hanging up his real estate shoes after 5 1/2 years and moving to Louisville, KY with his family, where he will attend Seminary. It's a big step to go back to school full time for 2 1/2 years with two young children, and requires just as much faith and commitment from his wife (Darian) as it does Matt. Liz and I both thought he'd end up a minister or missionary as far back as high school, and are proud of Matt and his family. However, we'll certainly miss being 15 minutes from the grandkids as opposed to 7 1/2 hrs.

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HOME VALUES
Home values in the Charlotte area increased 21.4% in 2021. Previously I thought they would slow down to a more normal 5-6% in 2022. Zillow, though, is now forecasting an 11% increase in home values nationwide and has rated Charlotte the 5th hottest market in 2022 with a projected home value increase of another 21% in 2022.

 

BUYERS OR SELLERS?

Our area continues to have an extremely low inventory of homes with most new listings resulting in multiple offers and selling for over full price. I don't see this changing for 2022 and expect to remain in a strong sellers market.

 

INTEREST RATES

I asked William Roseberry (our preferred lender) for an uncomplicated interest rate forecast. The short version: they are going up a little. 

The long version:

"Interest rates are going to be on an upward trend this year due to inflation. Initially the Federal Reserve thought inflation was “transitory” and would fix itself once the supply chains returned to normal. Unfortunately a new Covid variant (Omicron), has delayed that from happening. In order to prevent inflation from continuing to run high, the Federal Reserve has started buying less Treasury Bonds & Mortgage Backed Securities. The initial goal of buying Treasury bills and mortgage backed securities was to keep interest rates low. By reversing this course, interest rates have been going up. I would expect this upward trend in rates to continue until we find a way to fix our supply chain problems. We have seen a jump from 2.75% in Oct, to 3.25% in Dec, and now we are at 3.75%. This year we should stay in the high 3’s but could also see low 4% rates depending on whether inflation continues to run hot."

 

William Roseberry

Branch Manager

NMLS #68916

Office:  704-622-6896

www.RoseberryTeam.com

 

As always, please contact us if we can help with any questions you might have regarding buying or selling now and in the future. Liz and I are always glad to talk with you.

Posted in Real Estate News
Oct. 30, 2021

3 One-Year-Olds Eating Cake

Liz and I had a blast at our grandson's 1st birthday party last week. Young Luke was a little less enthusiastic about his cake than his older brother George, and way less enthused than his dad back in the day. It's a shame Liz didn't teach the boy better manners.

Luke October 2021

Luke - October 2021

 

George - February 2020

George – February 2020

 

Matt – February 1995

 

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The second most asked question I get is about the direction of interest rates. Like our cake eaters, the expert prognosticators have varying degrees of enthusiasm for the rate trend in 2022. Below are some thoughts from William Roseberry, a local lender who understands the economic influences on interest rates better than anyone I know.

 

"Over the next several weeks, consumers are going to hear on the news media that rates are going up because the Fed is tapering its bond purchases. Please keep in mind that rates have "already” gone up. The 30 year fixed was @2.75% and is now hovering @3.25%.  

 

Another thought regarding higher rates is coming from the current spike in inflation. Companies over ordered products and now can’t get those products into their stores.  Low Inventory + Higher Wages = Higher Prices & Higher inflation.

 

As we enter the Christmas holidays, there will continue to be a spike in prices as people fight to get their Christmas shopping list filled. Keep in mind, the market knows this higher inflation is temporary. Once the American people get back to work, we will see prices go back down which will fix our inflation problem.  Having said that, I think it’s safe to tell clients that rates will stay in the mid 3’s possibly going up into the upper 3’s by next summer."

 

William Roseberry, Branch Manager

NMLS #68916

Fairway Independent Mortgage Corp.

(704) 622-6896

www.RoseberryTeam.com

 

As always, please contact us if we can help with any questions you might have regarding buying or selling now and in the future. We are always glad to talk with you.

 

Posted in Real Estate News
Oct. 6, 2021

Don't Use An Agent To Sell Your Home

 

...And you may find yourself in a hole like young George here.

 

 

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Here's the last 5 closed listings for our team. The average sold price is 9.2% over list price ...How'd we do that?

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First, it's a really good seller's market right now, which we expect to cool off a little next year. We shouldn't go backwards, but the exponential 20% appreciation in 2021 may return to a more normal 3-5% in 2022. Second, we have a great internet and social media marketing program. And third, we handle multiple offers in such a way that it maximizes sale price by allowing buyers to compete for your home during a 4 day period rather than just accepting the first good offer.
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As always, please contact us if we can help with any questions you might have regarding buying or selling now and in the future. Matt, Liz and I are always glad to talk with you.

 

Posted in Real Estate News
June 10, 2021

Don't Worry Son, It Will Grow Back

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Children, this is why your father should never cut your hair...
Another treasure unearthed while helping dad move.
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We are still in a strong seller's market. Low inventory and high demand continue to drive prices upward. I was in a new construction sales office last week with clients looking at a floor plan that was priced at $440,000. The agent told us the same plan was priced at $360,000 in January and the builder is currently increasing the price by $10,000 per month. They have a waiting list of over 60 buyers.
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Even though it's a crazy market, we understand it and help our clients buy and sell every day. It's our job. If you have questions or would like to discuss the market, we are always glad to talk real estate.
Posted in Real Estate News
Feb. 8, 2021

Are You Prepared for the Upcoming Real Estate Market?

As we start the new year, here's a quick snapshot of the real estate market in our area during the pandemic.  For those who may be concerned about buying or selling this year, the market in 2020 was better than any other year over the last 10+ years.  Number of homes closed, dollar volume closed, and price per square foot all increased significantly. I'm not an economist, but most of the "experts" believe that the market will continue to remain strong over the next several years.

 

Number of Homes Closed

Number of Homes Closed

 

Dollar Volume Closed

Dollar Volume Closed

Closed Price Per Square Foot

Closed Price Per Square Foot

 

Liz, Matt and I are here when you need us. And if you are curious about the current value of your home, we will be glad to do a free market analysis for you.  No obligation - just let us know.

Glen

Posted in Real Estate News
Dec. 21, 2020

Did You Check the Wrong Box or Was It Me?

It has been a tough year for everyone in many different ways. Our family's thoughts and prayers go out to those who lost someone due to COVID or other illnesses. We're grateful for the medical community on the front lines, willing to risk their lives to save others. Like everyone, I have an opinion about the election and the direction of our country. On a personal level, though, I don't care which box you checked. We've all got to give a little to move forward.

Our family has been blessed with 3 new members this year: our grandson Luke, our son-in-law Owen, and Dad's new wife Carol. 

Matt, Darian, George & new grandson Luke

                    Hannah and Owen Wedding

                    George and Carol

 

I know I say this every year, but a heartfelt thanks to our family, friends and clients for allowing us to make a living doing something we love. We are grateful for your business and friendship. Merry Christmas.

Glen

Posted in Real Estate News
June 8, 2020

Good News

Our Current Local Real Estate Market in 3 Sentences:

1. The market is exceptional right now.

2. 6,500 homes went under contract in May, which is more than any single month in the last 10 years.

3. Homes are spending less time on the market, and year-over-year price per square foot is up.

 

Number of Charlotte Area Single Family Homes Under Contract

Number of Charlotte Area Homes Under Contract

 

Price Per Square Foot

Price Per Square Foot

 

Average Days on Market

Average Days on Market

 

As always, contact us if we can help with any questions you might have regarding buying or selling now and in the future.  Matt and I are always glad to talk with you.

Glen

Posted in Real Estate News
Jan. 29, 2020

I am NOT a Mechanic

By Matt Tucker:

Several weeks ago, I purchased a car to tinker around with. I convinced my wife that we should purchase the car because it was inexpensive, and I would do all of the repairs & maintenance myself. 

So far, my DIY experience has been abysmal.  Whenever I fix one thing, I break two. Whenever I think that I can do something cheaper than a mechanic does, it costs me more and eats up a bunch of my time. Ultimately, it is a lot of trial and error accompanied by frustration.

Just like I decided to fix my own car, there are many people who decide to sell their own home. Most likely they CAN sell their home. Just like I CAN fix my car. But at what cost of time, money and frustration? A good realtor has the know-how and tools to get your home sold for the most money, in the least amount of time. Just like a good mechanic, a good realtor also helps identify both issues and their solutions early in the game, so that errors are minimized along with your stress levels. 

Save yourself the hassle, and always use a good realtor when buying or selling your home. Save your friends the hassle, and make sure they are recommended to a good realtor.  We would love to speak with them about the value we provide.

Matt 

Posted in Real Estate News
Jan. 25, 2019

2019 Local Real Estate Market

In general, I don't expect anything crazy to happen unless the political and economic climate become big influencers.  Our local economy and job market will continue to help our housing values appreciate, but at a slower rate than the last few years.  A 5 - 10% increase in inventory should help balance the market, although it will not be enough to put us into a buyer's market.  While all price points will see growth, well-staged homes priced at $200,000 and below will be hot properties and generate multiple offers.

Local Price Appreciation Forecast

Realtor.com - 4%

Zillow - 4.5%

Glen - 5%

 

Contact Us

Please contact us if we can help you with your real estate needs or questions.  Matt, Amber, Liz and I are always glad to talk about real estate.  

Glen

 

 

Posted in Real Estate News