Charlotte real estate market

[toldozer]

On a more fun note than taxes,  our new pool pump is finally up and running. Should be good to go in time for the weekend!!

[toldozer]

Here's my that 70s show kitchen lol. I did upgrade the cooktop because only 1 burner worked on the 50 year old one. Got it for 100 bucks brand new. Destroyed some tile installing it but this is getting gutted in the near future anyways

[LinvilleGorge]

On 4/20/2021 at 4:18 PM, LinvilleGorge said:

It's so stupid. I was really fortunate that I A) knew the sellers B) knew the seller's agent C) my agent and their agent worked in the same office and D) the sellers really didn't want to deal with showings and wanted an easy close. I could make that happen.

Had they gone to market with this place I would've likely bowed out pretty quickly. The place next down the road from mine went on the market last week. More acreage, similar house size, but a much older home. It was under contract in under 12 hours at $25k over list full cash offer. The buyers submitted the offer sight unseen. They didn't step foot on the property until they were already under contract with what I hear was pretty substantial earnest money down. Crazy.

 

 

That property ended up closing... for $150k more than we paid. 

Really glad we got our deal done without this property hitting the market. The sellers got what they wanted so they can't be too upset about it, but I'm sure they realize in hindsight that they would've gotten well over ask the day it listed had they gone forward with the listing.

[KatsAzz]

On 2/25/2021 at 2:43 PM, Panther'sBigD said:

There are tear downs in my neighborhood selling for $600,000. It's nuts. 

Yes,the housing market in the Charlotte area has gone insane

[KatsAzz]

If a person had some rental houses now would be the ideal time to sell them.

 

[toldozer]

3 hours ago, KatsAzz said:

If a person had some rental houses now would be the ideal time to sell them.

 

[panther4life]

10 hours ago, KatsAzz said:

If a person had some rental houses now would be the ideal time to sell them.

 

What's interesting is that the big rental companies are a huge part of the equation of what's driving these prices up. Between my last 2 listings I had over 10 cash offers from rental companies sight unseen while they were still in the coming soon phase. 

I think eventually this market will cool down to a degree, but I don't see prices going backwards. Great time to cash out some equity if you need the liquid cash but if I were fortunate enough to own some investment properties I'd hold on to them.

 

 

 

 

 

 

 

 

[Ja Rhule]

[Ja Rhule]

Looks like Wallstreet is driving the craze

https://www.wsoctv.com/news/local/report-wall-street-backed-landlords-own-thousands-homes-charlotte/5CVC7WF42RB5RHEQ2GXK7LKMKQ/

[Paa Langfart]

On 6/5/2021 at 1:18 PM, toldozer said:

Here's my that 70s show kitchen lol. I did upgrade the cooktop because only 1 burner worked on the 50 year old one. Got it for 100 bucks brand new. Destroyed some tile installing it but this is getting gutted in the near future anyways

Are those doors solid hardwood? Or maybe a darkened pine?  Looks like quality stuff whatever it is.

[Paa Langfart]

I wonder how many houses Tepper has bought up in the area.

[toldozer]

12 hours ago, Paa Langfart said:

Are those doors solid hardwood? Or maybe a darkened pine?  Looks like quality stuff whatever it is.

House was built in 60, of course its solid hardwood itll all be ripped out in a year or two but I need to figure out a use for it so I can sell it after removing it because it is definitely quality stuff. I think we would keep it and paint it if we liked the configuration of the current kitchen. 

[stirs]

What effect would the coming interest rate hikes have in the immediate?

[Ja Rhule]

2 hours ago, stirs said:

What effect would the coming interest rate hikes have in the immediate?

I do not see them hiking rates just yet but once fed rates go up, everything goes up.  It will impact the buying craze as some people will stop buying homes and will go with renting instead.