Wednesday, May 18, 2011

Nouriel Roubini recent comments on housing markets

According to my husband, the finance guy, Nouriel Roubini, chairman of Roubini Global Economics and a professor at New York University’s Stem School of Business, said last Wednesday during the SkyBridge Alternatives Conference (SALT Conference) in Las Vegas there's "huge slack" in the housing market still,  "This double dip in housing is just getting uglier," Bookmark and Share

Home sales update for Mooresville and Charlotte

Quick update on homes closed so far this month vs last year during May 1- May 17 period

28117 - 14 vs 25 in 2010  down 44%

28115 & 28117 - 23 vs 39 in 2010 down 41%

all Charlotte CMLS - 672 vs 915 down 27% Bookmark and Share

Tuesday, May 17, 2011

159 Waterford Dr Mooresville Sold

This home off Isle of Pine Road in the Pine Isle subdivision just closed for $315,000. Square footage is 2,735 and the home comes with two deeded boatslips and has waterviews. The home was a foreclosure and owned by Community Trust Bank out of Ashland, KY. This home was originally built in 1992. It was a re-sale in 2002 for $324,000. Then again a resale in 2006 at $435,000, again in 2007 at 469,900. The home was for sale again in 2008 at $515,000 withdrawn at $499,000 foreclosed on and put on the market in March at $349,900. The home was under contract at $340,000 yet it was appraised at $315,000 and the bank moved the price and got rid of inventory at $315,000.

The Point I bring up here is twofold first the home obviously wasn't worth $515,000 back in 2008 and the seller perhaps could have avoided foreclosure by being realistic about the pricing. I have had many listing appoinments where the sellers are unrealistic with their pricing and they end up hiring the realtor who in many cases comes in with an agreeable unrealistic price and the house doesn't sell or the realtor kepps walking them down in price. I also have had appoinments where I will not take the listing because the seller is unrealistic and for me I don't want to risk my reputation. It's sad to see so many homes lost to banks when those same homes priced right could have sold. The second point I bring up is appaisals are coming in at realistic prices. If you are planning to put your house on the market think about a professional appraisal, it might not agree with what you think your house is worth but I've been agreeing with more appraisers, not homeowners lately.

On the other hand I currently have two foreclosures under contract that are awesome deals for my buyers. In fact, the home inspector I used after conducting a 6 hour inspection, said to me "wow, where do you find these homes" what a deal. That's what I do for my buyers we find the right house at the right price. I refuse for my buyers to overpay.
Bookmark and Share

Wednesday, May 11, 2011

The Point Sales information

If you are looking for data on homes for sale or homes sold look no further than this blog. Scroll down and on the right hand side you will find the "search" bar, making this site more navigable to your needs. So, if you want thepoint sales data you found the right place. I have been blogging about real estate for three years and have been a resident of The Point for more than seven years. Bookmark and Share

Thursday, May 5, 2011

Home Sales in The Point

Sales activity in The Point has slowed through May 4, 2011 versus the same time frame last year. On CMLS there have been 11 homes closed vs 18 homes last year.

According to a report on MSNBC by Clear Capital (click here for it) prices nationally have officially double dipped and are below the previous trough seen in 2009. The good news is Charlotte was the best performing major metro market with prices only down -1.4% quarter over quarter, although year over year prices slipped -5.1%. REO homes continue to weigh locally and nationally on prices and foreclosure properties are at an all time high. The pipeline of homes in the foreclosure process along with the number of homes that are 90+ days delinquent is 45 times the size of the current monthly foreclosure sales number, which is 34.5% of all sales. So it remains a buyers market for the forseeable future and I have found some great buys recently for my customers.

If you are selling your home; being realistic in your pricing is very important, if you price your home too high, odds are you will not get alot of showings and your home gets used to sell other properties because buyers see the value elsewhere. Listing agents with alot of listings might even use this tactic. When I am representing buyers I make them very aware of valuations and we stay away from homes priced unrealistically in today's market. Bookmark and Share

Tuesday, May 3, 2011

Here's a great home for sale in The Point on Great Point Drive

I don't think this one will last too long being a short sale and priced are some details; One of a kind estate for family fun and entertaining. Tuscan themed home has it all. Massive gourmet kitchen, soaring entry & living room, stone fireplace, lake level with kitchen, theatre area, pool room & wine cellar. Roman style pool & spa, outdoor bar & seating areas, outdoor plasma TV, built in grill & brick pizza oven. Golf Course & Waterview and for the man that has everything.... a urinal in the downstairs bath.

 call me if you want to see it...MLS 2012369 listed by Keller Williams

click to view Bookmark and Share

138 Brick Kiln Way The Point SOLD

This 7487 square foot waterfront estate home in the Point Lake and Golf Club closed today for $2,050,000 putting it's price per square at $273. This home with a European  influence and it's own private dock includes an infinity pool and spa and it's own wine cellar.This home listed by the Francis team at Keller Williams had been on and off the market since 2006 and originally had listed it at $2,625,000. Michele Burton also in my Keller Williams office brought the buyer. It's latest list price was $2,250,000 representing a sale to list price of 91% and of the original price 78%.

Bookmark and Share