What a change a year has made in our Charlotte, NC real estate market. There is certainly a buzz of activity since the turn of the New Year. I know that personally I've had an onslaught of buyers popping out to make sudden real estate purchases in the Charlotte metro area. Although I was hoping it was my brilliance (LOL), after speaking with numerous agents from Helen Adams Realty and competing firms, I'm hearing the same theme: "Feels like we've turned back the hands of time 4 years".
Along with this success comes a whole new set of problems. At current, the buyers needs to be prepared to move quickly on a hot property. I'm finding that the homes that are in good condition and priced correctly are going under contract in less than a week. Buyers are no longer afforded the opportunity to mull over the options. With the North Carolina Real Estate contract that uses the due diligence time frame, buyers need to know that if they are interested, write the offer and keep the due diligence fee low. The due diligence period allows the buyer to walk away for any or no reason or to continue with the purchase. Also, buyers need to have their financing in order so if they decide to make an offer, they won't lose valuable time waiting for a loan officer to pre approve them.
I'm optimistic that the market has bottomed out and we can begin to make a slow crawl out of the down market that we've lived through for the past 3 years!
Bryant Stadler, ePRO Realtor
http://www.bryantstadler.com/
Check out What's Happening in Charlotte, NC as Experienced by a Local Real Estate Agent.
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