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Charlotte real estate market


Ja  Rhule
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Yep, the rates begun to tank.  People are refusing to buy new homes.  New originations are done.  Apparently a ton of people went from prime to subprime during COVID and foreclosures are about to blow up.  

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2 hours ago, Ja Rhule said:

Yep, the rates begun to tank.  People are refusing to buy new homes.  New originations are done.  Apparently a ton of people went from prime to subprime during COVID and foreclosures are about to blow up.  

How could people have months and months of forbearance available to them along with hefty unemployment benefits and now about to be going in to foreclosure.  Why do you think they're about to blow up? Just curious not saying your wrong just common sense says if people were in trouble prior to March 2020 shouldn't they have been able to build up a nest egg if they haven't been paying for however many months? 

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I know that this thread is about Charlotte in particular but we are really starting to feel the pressure to sell here in Lakewood(Denver)

The estimate on our place is 230k north of where we bought it 3 years ago, the market here is still cash offers without inspections/appraisals, most homes are going for 20 to 60k above list and are under contract in less than a week.

 

Its hard to believe this market will hold for the 12 to 18 months they are predicting.

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2 minutes ago, Inimicus said:

I know that this thread is about Charlotte in particular but we are really starting to feel the pressure to sell here in Lakewood(Denver)

The estimate on our place is 230k north of where we bought it 3 years ago, the market here is still cash offers without inspections/appraisals, most homes are going for 20 to 60k above list and are under contract in less than a week.

 

Its hard to believe this market will hold for the 12 to 18 months they are predicting.

Hell, it's why I sold last summer. It's shocking it's held up this long. But looking at median household income a and median home values, something has to give and soon. The math just doesn't compute. It hasn't for awhile.

We were well above median household income and we'll below median home value in Evergreen and we still felt borderline house poor.

 

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1 minute ago, LinvilleGorge said:

Hell, it's why I sold last summer. It's shocking it's held up this long. But looking at median household income a and median home values, something has to give and soon. The math just doesn't compute. It hasn't for awhile.

We were well above median household income and we'll below median home value in Evergreen and we still felt borderline house poor.

 

Lakewood just passed a new building restriction that caps growth to <5%/year so the inventory isnt going to be growing.  Should hold the sellers market for a while longer.

 

We wont be here next summer.

 

Cant come back to NC for reasons but we've been looking at acreage in Ohio,Western Pa, and even W Va

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9 minutes ago, toldozer said:

How could people have months and months of forbearance available to them along with hefty unemployment benefits and now about to be going in to foreclosure.  Why do you think they're about to blow up? Just curious not saying your wrong just common sense says if people were in trouble prior to March 2020 shouldn't they have been able to build up a nest egg if they haven't been paying for however many months? 
 

it’s on the news

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On 7/8/2021 at 5:12 PM, Inimicus said:

Lakewood just passed a new building restriction that caps growth to <5%/year so the inventory isnt going to be growing.  Should hold the sellers market for a while longer.

 

We wont be here next summer.

 

Cant come back to NC for reasons but we've been looking at acreage in Ohio,Western Pa, and even W Va

Wv has even had huge increase as more people can work from home. Place selling Last summer $130k are selling at 240k this summer.  It is getting stupid.  Only places not increasing is in major cities. 

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24 minutes ago, Squirrel said:

Wv has even had huge increase as more people can work from home. Place selling Last summer $130k are selling at 240k this summer.  It is getting stupid.  Only places not increasing is in major cities

Expect this trend to continue for some time.

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  • 2 weeks later...

My last 2 seller clients here in Charlotte crushed neighborhood records. Inventory seems to be slowing down and it's making it tough for me to find new clients. My apologies for spamming this thread but if anyone on here is thinking of buying or selling anytime soon, I'd love to help any of you! I have got a proven track record and references. 

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