Crestdale Crossing in Matthews NC. 28105 and it's quaint 110 home subdivision has been a refuge for a lot fo people. This neighborhood is made up of 3 bedroom 2.5 bath homes that range from 1400 square feet to a little over 1700 square feet. During the difficult housing market times; this neighborhood has endured well. the statistics below are from November 1 to October 31st the following year:
3 years ago there were 14 homes that sold for an average sale price of $129,057. They were on the market for an average of 35 days.
2 years ago there were 4 homes that sold for an average of $116,500. They were on the market for an average of 15 days.
Last year there were 5 that sold for an average of $127,500. They were on the market for an average of 48 days.
Currently there are 2 homes active on the market right now. There is also one that is pending a close date.
As the trend shows and has been showing is that homes in this neighborhood sell quickly; even in a down market. The prices have been for the most part stable over the past few years...
Dave diCecco
Realtor/Broker
www.davedicecco.com
Wednesday, November 3, 2010
Tuesday, November 2, 2010
August-September Housing Numbers Sign Of Recovery?
As I mentioned last month was August just a bump in the road of rising home prices or a trend that prices are going to start steadily climbing (though slowly). Well after a dismal July, which a lot of experts pointed to as a fallout of the June deadline for the tax credit, August and now September have seen a steady rise in the average home prices nationally.
But the national scale does not help the local market determine what is happening. Parts of the country were hit almost six months or longer than other parts began to feel the dramatic price drop in home prices. So, to be fair let's look at the Charlotte area market.
If we go back through the past twelve months leading up to September 2010 you will notice a trend most people would not think fathomable based on what they hear on the news. In September of 2009 the average price of SOLD homes was : $196,760.00. Since then through February of 2010 the home sale price was like a roller coaster. Some months went up and others went down. However; over the past 12 months February 2010 was the low point for average home prices. That number was $191,288.00.
Since Febraury 2010 home prices in Charlotte area on average have INCREASED every month till September. September was the first month that home prices in the Charlotte area actually decreased. In all markets you are goign to have bumps in the road. Charlotte was never the area that saw home prices jump 30% to 40% overnight as other parts of the country did. The steady incline helped us absorb the fallout better than other areas of the country.
Is the housing market on the road to recovery? Nationally maybe. Charlotte area it is looking like it is. With mortgage rates at historic lows it is no wonder more people are out looking to purchase a home today. That coupled with prices that are still pre-boom times makes the market a strong buyers market right now.
Dave diCecco
Realtor/Broker
www.davedicecco.com
But the national scale does not help the local market determine what is happening. Parts of the country were hit almost six months or longer than other parts began to feel the dramatic price drop in home prices. So, to be fair let's look at the Charlotte area market.
If we go back through the past twelve months leading up to September 2010 you will notice a trend most people would not think fathomable based on what they hear on the news. In September of 2009 the average price of SOLD homes was : $196,760.00. Since then through February of 2010 the home sale price was like a roller coaster. Some months went up and others went down. However; over the past 12 months February 2010 was the low point for average home prices. That number was $191,288.00.
Since Febraury 2010 home prices in Charlotte area on average have INCREASED every month till September. September was the first month that home prices in the Charlotte area actually decreased. In all markets you are goign to have bumps in the road. Charlotte was never the area that saw home prices jump 30% to 40% overnight as other parts of the country did. The steady incline helped us absorb the fallout better than other areas of the country.
Is the housing market on the road to recovery? Nationally maybe. Charlotte area it is looking like it is. With mortgage rates at historic lows it is no wonder more people are out looking to purchase a home today. That coupled with prices that are still pre-boom times makes the market a strong buyers market right now.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Monday, November 1, 2010
Why You Should Buy A Home
Yes, if you do not own a home and have been thinking about it now is a good time to buy a home. First, owning a home gives you the stability to do what you want with the home. You can decorate the home anyway you desire. When you rent you are restricted by what your landlord will let you do and not do. So much for being creative with your rental.....
Second, you have stability in knowing your payments are going to be stable. Yes, there is going to be times when the mortgage is going to adjust for increases in your property taxes over the years. but, you will know when that is coming. How many times have you been near the end of a lease to have the landlord tell you the rent is goign up $50 or $100 or even more? Would it not be nice to know that your housing payment is a steady number each and every year. What if your landlord raises your rent $30 a month every year. It may not seem like a lot but in five years you just went up $150.00. Would you rather know you are paying a stable payment?
Third, what if you receive a notice on the door that the home you are living in is goign to be foreclosed upon. You have no guarantees that the landlord is paying the mortgage every month. Chances are you are living in a investment home. If times have gotten tough for them; they may need that rent to pay their mortgage leaving you looking for a home.
Couple these with historic low interest rates and home prices at 2004-2005 levels and you have a win situation in buying a home.
david diCecco
Realtor/Broker
www.davedicecco.com
Second, you have stability in knowing your payments are going to be stable. Yes, there is going to be times when the mortgage is going to adjust for increases in your property taxes over the years. but, you will know when that is coming. How many times have you been near the end of a lease to have the landlord tell you the rent is goign up $50 or $100 or even more? Would it not be nice to know that your housing payment is a steady number each and every year. What if your landlord raises your rent $30 a month every year. It may not seem like a lot but in five years you just went up $150.00. Would you rather know you are paying a stable payment?
Third, what if you receive a notice on the door that the home you are living in is goign to be foreclosed upon. You have no guarantees that the landlord is paying the mortgage every month. Chances are you are living in a investment home. If times have gotten tough for them; they may need that rent to pay their mortgage leaving you looking for a home.
Couple these with historic low interest rates and home prices at 2004-2005 levels and you have a win situation in buying a home.
david diCecco
Realtor/Broker
www.davedicecco.com
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