Thinking about selling your home in Charlotte? Getting it ready to sell? Should you sell your Charlotte home now?

So, how is the real estate market in Charlotte? For home sellers? In
a word, Tough.
Overall, we have 30% fewer buyers in the market- that means atleast 3
in 10
homes on the market won’t sell… but some areas its as much as 50%
off, or 5 in 10 won’t sell…I’ve written often in the past year
that if you don’t HAVE to sell, then please just take your home off the market and wait- you should wait. This is Not a “move-up”
year, and I’m quite sure prices will improve over the next two years.
Still, some of you have to sell, and if you have to sell, it probably can be
done…

I’ll assume something significant in your life has changed and you
have to sell. I just had 2 closings on homes folks had to sell (July,
2008) and one had a contract in 9 days and the other took 60 days, the
first in north Charlotte and the 2nd home sold in South Charlotte. I
also personally sold 2 homes in July,one in Union County and one in
South Charlotte, so I have Buyer perspectives to share as well. For the
details, see the posts below.

Why did these homes sell when others haven’t? We know there are fewer buyers, but atleast our market has the 50- 70% ofa myers park street what we had before… so what explains my sellers good fortune, how did they get in the 70% of homes that sold?

Team Work. Team work expressed through homes in great condition and
properly priced. This created an effective home to bring to market, and
then we let our terrific marketing (our more than 500 Intenet “signs”)
bring buyers…

A little background… Both homes were built in the mid-1990’s with
open floor plans. The less expensive north Charlotte home had all new
paint, new carpets, new exterior paint and a number of spruce
ups–making it a home in very good condition. The 2nd home was in South
Charlotte, in a popular neighborhood inside of Rt 51,  and also had new painting in and out,
new carpet, and it also had new appliances, and granite counters,
making it a home in very good to excellent condition.

In both cases these homes were at or near “best in class.” This
makes perfect sense- with 30% fewer buyers in the market, which 30% of
the homes Don’t sell? The vast majority are homes in poor condition…
so that is rule number one today, your home must be updated and in
excellent condition to sell. Anything less, and it sits–there are too
many perfect, or “needs nothing” homes for buyers to consider homes
that need work. This is necesarry, but not sufficient.

Then there is marketing mix-  Presentation is important,
Internet presence is
vital– but the most important part of any marketing mix is price. If
the price is wrong, too high, all the other marketing
efforts are for nothing… no amount of pretty pictures will make
someone buy a property if there are other nicer properties for less
around the corner or in the next neighborhood. Today’s Internet home
buyer (more than 85% start there search on the net)  can review a
number of
properties online, and decide from there which they want to see. It is
not unlike a shopper in a store reviewing half a dozen similar products
for fit, value, and price. Homes folks don’t like the look of, or are
priced too high, don’t get shown;
buyers eliminate them online.

One other key ingredient to these homes quick sales: convenient
locations. The gas crisis has magnified the advantages of the markets
closer to Uptown Charlotte- that simple. Myers park, Dilworth,
Eastover, Southpark, Beverly Crest, Matthews– these have shorter Days
On market, and have held their value or increased, much better than the
further out suburbs .

If you need to sell your home, we can assist. I’ll be happy to
prepare a a Total Market Report closely looking at your home’s
competition, most likely sales price, list prices and what you would
net from the transaction. So call me at 704-351-1519, or send me an
email Contact Terry to discuss Listing Your Home

Notes from two buyer negotiations here

Charlotte- More Good Years Ahead

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