I read a great article yesterday on cnnmoney.com. It was discussing the home values of the 299 biggest real estate markets. they were talking about how prices were in relation to the market values in the area. As a seller the news was good. As a buyer the news was great. Charlotte area was tied fro 15th place among the 299 markets for the most undervalued home prices. What does this mean?
Well it means that buyers are buying the homes for an average of 6% less than the market value of the home should be. For buyers that means they are purchasing homes for a slightly better value than the true market value of the home. for sellers, it means they are getting close to the market value of what there home should be. In a perfect scenario the average price would be 0% of the market value. you always want to see it on the plus side of the percentage. When the numbers are on the negative side it means that home prices have not stabilized yet and the bottom has not completely dropped in terms of how low the values will drop.. When you are in the plus side the market has stabilized and home values are actually beginning to creep up.
With all the negative publicity of home values and the talk of people being owing significantly more than there home si worth the trend for Charlotte is a good sign that the housing prices are beginning to stabilize and a balance is beginning to develop.
This is still a win win situation for sellers and buyers. Sellers can rest assured that the values of their homes has hit bottom and is climbing back up. buyers still can get in low enough to build almost instant equity in their home purchase.
The resilience of Charlotte Area and the fact when home prices in most of the country were skyrocketing at double digits each year...Charlotte maintained a steady increase. That steady increase has helped it absorb the housing bubble burst better than most regions in the country.
Dave diCecco
www.davedicecco.com
Saturday, February 13, 2010
Friday, February 12, 2010
Crestdale Crossing--Affordable Community in Matthews
People often come to me and say: "We have relocated here and are currently renting. We would like to stay in Matthews because of the schools and not wanting to move the kids again to a new school. However; prices are higher than other surrounding areas and we cannot afford that much". I tell them you can get what you want at an affordable price in Matthews. Look at Crestdale Crossing. A quiet little subdivision tucked away in Matthews; this community offers some of the most affordable housing in the Matthews area. With prices in the $130,000's it makes owning a home in Matthews well within reach for a lot of people.
The community is made up of about 100 plus homes. All the homes are either three bedrooms or have the additional bonus room as well. Some are equipped with a one car garage. It is a large children friendly neighborhood that has only one way in and one way out. All the roads are in essence dead ends. It is common in the nicer weather to see kids outside everywhere riding bikes, playing baseball, or playing at the park. It reminds me of the days when I was growing up (the neighborhood kids all out at night playing while our parents were sitting on the porches talking). Nice to see there are still communities like that around.
A relatively newer subdivision that was built in 2002 -2003 all the homes boast ample space for a family and provide a little yard. You can tell once you start driving in the community it is family friendly and people take pride in their homes.
With mortgage rates at record lows and the tax credit available right now....this makes this neighborhood a bargain. I was so impressed by the values and the old fashioned way kids were outside playing; that I moved my wife and four kids to Crestdale Crossing....
So, if you think you cannot afford to stay in Matthews or are looking for a decent priced home in the Matthews area do yourself a favor and check out Crestdale Crossing.
The community is made up of about 100 plus homes. All the homes are either three bedrooms or have the additional bonus room as well. Some are equipped with a one car garage. It is a large children friendly neighborhood that has only one way in and one way out. All the roads are in essence dead ends. It is common in the nicer weather to see kids outside everywhere riding bikes, playing baseball, or playing at the park. It reminds me of the days when I was growing up (the neighborhood kids all out at night playing while our parents were sitting on the porches talking). Nice to see there are still communities like that around.
A relatively newer subdivision that was built in 2002 -2003 all the homes boast ample space for a family and provide a little yard. You can tell once you start driving in the community it is family friendly and people take pride in their homes.
With mortgage rates at record lows and the tax credit available right now....this makes this neighborhood a bargain. I was so impressed by the values and the old fashioned way kids were outside playing; that I moved my wife and four kids to Crestdale Crossing....
So, if you think you cannot afford to stay in Matthews or are looking for a decent priced home in the Matthews area do yourself a favor and check out Crestdale Crossing.
Thursday, February 11, 2010
Moving to Charlotte?
I started the other day when I was asked about the benefits of moving to Charlotte area about all the cultural activities and offerings that Charlotte area had to offer in addition to the weather advantages of coming from up North. But there are some other advantages that Charlotte area offers in addition to just those. One is the education system. Charlotte Mecklenburg School System is the largest in North Carolina. Having four kids; three which are enrolled in the system, I can speak from experience in this matter. I have been very impressed by the teaching quality and curriculum offered to my children here. In fact, when we moved my kids were about six months behind other kids in their grade levels in terms of where they were academically and expected to be. It was a shock to me. They raised the bar of what is expected of my kids and have made them work a little harder to maintain the quality of grades we expect out of them. In addition, Charlotte area offers some fine private schooling as well as religious schooling at very affordable prices.
One thing that seemed to allude me when we were moving here was the choices of higher education that the Charlotte area offered. Home to six different universities and colleges Charlotte is bubbling with opportunities for higher education. In the suburbs of Charlotte there are also another four universities. So, the area offers some excellent choices for higher education as well.
One of the most compelling reasons I hear from a lot of people and I tell anyone who is considering moving to the Charlotte area is the affordability of homes. While the average home price still hovers around the $200,000 mark; there are an abundance of homes to be purchased in the $150,000 and under price range. A lot are of newer construction and boast sizes most people are used to paying two to three times as much for up North. We have not been immune to the housing issue; however we also have not been as devastated as most other areas. When other areas of the country housing prices were skyrocketing in the double digits year after year; Charlotte area was holding to a steady increase. Yes, we have felt the effects of the housing collapse...just not on the levels of other parts of the country. There are great deals to be had here as well as other areas of the country in terms of housing.
With a wide array of cultural activities, sporting events, affordable housing, and education options Charlotte is fast becoming a place for people to move to.
One thing that seemed to allude me when we were moving here was the choices of higher education that the Charlotte area offered. Home to six different universities and colleges Charlotte is bubbling with opportunities for higher education. In the suburbs of Charlotte there are also another four universities. So, the area offers some excellent choices for higher education as well.
One of the most compelling reasons I hear from a lot of people and I tell anyone who is considering moving to the Charlotte area is the affordability of homes. While the average home price still hovers around the $200,000 mark; there are an abundance of homes to be purchased in the $150,000 and under price range. A lot are of newer construction and boast sizes most people are used to paying two to three times as much for up North. We have not been immune to the housing issue; however we also have not been as devastated as most other areas. When other areas of the country housing prices were skyrocketing in the double digits year after year; Charlotte area was holding to a steady increase. Yes, we have felt the effects of the housing collapse...just not on the levels of other parts of the country. There are great deals to be had here as well as other areas of the country in terms of housing.
With a wide array of cultural activities, sporting events, affordable housing, and education options Charlotte is fast becoming a place for people to move to.
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