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Sellers: Stats that Prove Why KW Southpark is Charlotte’s Choice

Are you thinking of selling your home?

If you are, you should know why so many Charlotte home sellers choose to work with a Keller Williams Southpark agent or team to sell their home.

Our office is cohesive, growing, and committed to superior results for our clients. It’s no secret! (And if you’ve been thinking about getting into real estate yourself? Give us a call.)

Here are a few stats to prove why KW Southpark is the best choice if you’re looking to sell your home in Charlotte.

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Let’s look at it holistically:

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Ready to sell?
Let us know!

3 Reasons Now is the Time to Sell Your Home in Charlotte

No, really, NOW!

Charlotte is experiencing one of the hottest “seller’s markets” it’s been through in a long time. Buyers are in the market – but there aren’t enough houses to buy! If you’ve been considering selling your home – maybe it’s too big since the kids left home, or maybe you really do want to live in that other neighborhood – now is the time to make the push. Economically, Charlotte sellers are in one of the best positions they’ve been in for years thanks to inventory concerns and rock-bottom mortgage interest rates.

Reason #1: Buyers Have Very Limited Options

Inventory is painfully, woefully low. The inventory of homes for sale in Charlotte is down 17.9% from this time last year for several reasons. Builders can’t build homes fast enough in CLT to keep up with demand, and some individual sellers are trying to “wait out” the market until they think we’ve reached the optimal time to sell. (Hint: Now is that time.)

low inventory charlotte

Reason #2: Sellers Are Getting More of Their Asking Price

Already this year, homes are selling for an average of 5% more than they did in 2015. Sellers are getting about 96.5% of their original listing price, too, which is up nearly 2% over last year. If you’ve been waiting to sell your house until you think the market value is at its highest, now may just be that time.

Reason #3: You Can Time Your Sale

One of the worst parts of selling your home is the unknown. How long will it sit on the market? A month? A year? What about my kids’ school and my job and the holidays? In a seller’s market like Charlotte’s, homes are selling 15% faster in 2016 than they did in 2015, in an average of 78 days (or way less, depending on what neighborhood you’re in.) For sellers, that means more predictability around moving dates, and less dependency on market seasonality.

 

Ready to sell? Why wouldn’t you be! 
Call us TODAY to find out why listing your home with an experienced, knowledgeable real estate team in Charlotte is a great financial decision.

 

Charlotte – One of America’s Fastest Moving Housing Markets

There has never been a better time to invest in Charlotte, NC real estate. This bustling southeastern metropolis has grown exponentially over the last few years due to an influx of small to midsized tech companies. According to the Bureau of Labor Statistics, the unemployment rate has dropped from 5.4 percent in March of 2015 to 5.1 percent in March of 2016. Both of these factors make Charlotte an attractive place not only for young professionals, but for families of any age.

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As Charlotte’s job market grows, the local real estate market continues to improve. A recent study by Trulia showed that nationwide, homes are moving off the market faster than they were a year ago. In Charlotte, 65.2 percent of homes are still on the market after a month. This is significant considering 73.6 percent of homes were still on the market after a month in April of 2015.  While the “Costly Coasts” are still very popular places to invest in real estate, the historically slower markets, particularly those in the “bargain belt” are finally heating up, and trade-up homes in both markets have seen the biggest decrease in inventory.

Top 10 Housing Markets Where Homes Are Coming Off the Market Faster than A Year Ago
# U.S. Metro % of homes still for sale after one month April 2016 % of homes still for sale after one month April 2015 Percentage Point difference in share still for sale, 2016 vs 2015 Median Home Value, April 2016
1 Long Island, NY 76.9% 88.6% -11.7 points $409,500
2 Colorado Springs, CO 53.2% 62.0% -8.8 points $230,000
3 Charlotte, NC 65.2% 73.6% -8.4 points $166,125
4 Louisville, KY 59.5% 67.7% -8.2 points $134,900
5 Cincinnati, OH 63.1% 70.9% -7.9 points $138,500
6 Kansas City, MO 59.6% 66.3% -6.7 points $144,900
7 Chicago, IL 62.5% 69.1% -6.5 points $204,000
8 Atlanta, GA 65.3% 71.9% -6.5 points $169,000
9 Cleveland, OH 68.9% 75.4% -6.5 points $124,000
10 Raleigh, NC 69.6% 67.1% -6.4 points $219,900
Note: Among the 100 largest U.S. metros. The one month shares and the difference are rounded to the nearest percentage point, and the difference was calculated before rounding; therefore, the rounded difference might not equal the difference between the rounded shares.

 

downtown ChalrotteInterested in snagging a piece of desirable Charlotte real estate for yourself, but unsure where to start? There are Charlotte neighborhoods for every age group and budget. Young families will be happy in one of Dilworth’s adorable single family homes.

Young professionals can find a reasonably priced condo in Downtown Charlotte’s Fourth Ward Neighborhood, conveniently located near many businesses, restaurants and nightlife options. Looking for more space? South Charlotte’s many neighborhoods are perfect for large lots and sizable homes. Contact one of On the Move Charlotte’s knowledgeable agents to get started on your home search today!

 

Infographic: 6 Reasons Everyone is Moving to Charlotte

Here’s a great infographic from our friends at Sparefoot about why Charlotte is THE place to be:

 

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Which Home Improvements in Charlotte Give the best ROI?

Home renovations are always a guessing game.

Is this color too dark? Will the contractor show up? And most importantly, will I see this money back in resale? The good news is, some improvements provide a more predictable Return on Investment (ROI) than others, particularly here in the Queen City. What makes sense in, say, Vermont (i.e. heated front steps to melt the ice) would seem like a ridiculous extravagance here in Charlotte.

On the Move Charlotte’s looked at several recent studies and crunched the numbers for your edification. If you’re thinking of making some home improvements, read these stats first.

new sidingMaintenance Updates Get the Biggest Bang for the Buck

Sure, they’re less glamorous than outdoor uplighting, but giving your home a practical upgrade is the best thing you can do for resale value. Siding replacement, for example, gets back about 93% of its cost, and replacing leaking roofs and windows will get you about 80% of the money back. Don’t be fooled – a ROI in this range is excellent. You’ll likely never see 100% or more of the money you spend on renovations, but remember they also make your time living in the home better, too.

 

Charlotte Buyers Love Outdoor Upgrades

According to the national Cost vs. Value report for 2015, buyers in the South Atlantic region will pay more for outdoor upgrades. Functional upgrades like a new steel entry door get 150%+ of their value back in Charlotte, while fun upgrades like a new wooden deck get over 65% here in Charlotte. New garage doors and stone veneer accents also see money back from buyers.

Luxury Upgrades are Terrible Investments (but so much fun!)

We get it. What’s better than an all-new closet system or room-to-room surround sound? Unfortunately for sellers, “luxury” upgrades simply don’t get the money back at resale – but that doesn’t mean they’re not worth doing for the sheer enjoyment of them at the time. Nationally, some of the worst projects for ROI include a master suite addition, an upscale bathroom remodel, and a super-fancy deck. But boy, those all sound pretty cool!

The Charlotte Market Doesn’t Require Improvements

Study the chart below. Notice that in Charlotte, improvements get less across the board when it comes to ROI for sellers. What does this tell us? In a nutshell, that the Charlotte market is so hot right now and inventory’s so low that sellers don’t have any trouble getting top-dollar even if their home’s not perfect. That’s amazing news for sellers! Especially if you’ve been putting off listing your home because you think you’ve got to make a bunch of improvements first. The stats don’t lie: for minimum work and maximum return, now’s the time to sell.

cost vs value 2015

Whether you’ve just finished a massive home improvement project, are wondering whether you need to start one, or just want to move on from your current home and into the next one, call us! It is a seller’s market here in Charlotte and we’re happy to help you set the right price for your home. Afterall…we live here, too!

Trulia: Charlotte One of the Best Places to Own Real Estate Since 2012

This article is a special contribution for On the Move Charlotte by Sam Brannan of Trulia

North Carolina’s real estate market is thriving after home prices hit rock bottom four years ago. If you’re considering a new location to settle down with high job wages and affordable home prices, Charlotte, North Carolina is worth considering. The city’s strong economy, beautiful neighborhoods, fun attractions, and good schools make Charlotte an ideal location to buy.

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Recent market trends show that there are many affordable neighborhoods in Charlotte.  For instance, Stonehaven and Cotswold are ideal for families looking for reputable school districts. Looking for a bargain? The start of the new year is the best time in to buy in Charlotte. The median sales price for homes is now just $174,000 down from $190,000 in December.

There are a growing number of job opportunities and startups in North Carolina. The household income median for Charlotte is now up to $46,975 with a job growth rate of 9.97 percent since 2012. In addition, the job market has vastly improved as the unemployment rate has decreased by 43.75 percent.

 

Best Places to Own Since the Market Bottom 2012
# US Metro Owner Index % of Job Growth % of Change in Wages % of Change in Unemployment % of Change in Vacancy % of Change in Housing Values
1 San Jose, CA 92.8 12.59% 11.64% -45.73% -35.58% 44.38%
2 San Francisco, CA 97.2 14.43% 20.26% -46.97% -20.70% 42.81%
3 Denver, CO 90.8 11.49% 6.35% -44.77% 24.30% 29.69%
4 Seattle, WA 86.6 8.80% 9.90% -41.81% -19.15% 28.66%
5 Orange County, CA 82.2 7.77% 6.30% -41.32% -26.30% 28.19%
6 Oakland, CA 81.6 9.38% 4.59% -43.00% -35.39% 48.50%
7 Raleigh, NC 81.2 10.71% 6.72% -41.01% -21.03% 13.12%
8 West Palm Beach, FL 80.8 10.47% 5.60% -41.81% -15.13% 34.67%
9 Charlotte, NC 80.6 9.97% 6.78% -43.75% -15.16% 12.37%
10 Houston, TX 78.8 11.43% 8.88% -38.37% -17.40% 10.49%

 

If job opportunities weren’t enough, there’s also a lot to do in the Charlotte area for families. Discovery Place, one of the leading science centers in the country, is great place to geek out on engineering and technology! For the more outdoorsy folk, the UNCC Botanical Gardens and King’s Mountain are gorgeous places for sightseeing.

Charlotte isn’t the only city North Carolina that has seen a boost in its real estate market. Other North Carolina cities such as Raleigh and Greensboro also stand out as areas with great opportunities for owners since 2012.  If you bought a home in Charlotte since the prices bottomed in 2012, the economy has given you a return on investment.

 

Thanks to Trulia for the great stats and information on Charlotte’s overall real estate market. Are you ready to buy or sell a home? Give us a call!

 

 

Why Does Having a Team of Realtors Pay Off? Ask the Witherspoons.

Sometimes two Realtors are better than one.
And sometimes…nothing beats a whole team.

Amy and Brandon Witherspoon were longtime Providence Plantation residents and loved their neighborhood. They lived at 3501 Brushy Lane for years and though they liked their home, they always had their eyes on their ‘dream home’ up the street – 2403 Beaucatcher Lane. In September of last year, fate stepped in.
The Witherspoons sold 3501 Brushy Lane...

The Witherspoons sold 3501 Brushy Lane…

...and moved right into 2403 Beaucatcher Lane!

…and moved right into 2403 Beaucatcher Lane!

When Beaucatcher Lane came on the market, the Witherspoons decided quickly to do what it took to make the move. They contacted the team at On the Move Charlotte (smart move!) and quickly went to work. Through a highly coordinated effort of prep work, research, showings, inspections, and more, the Witherspoons closed on the sale of their old home and closed on the purchase of their new home back-to-back, literally on the same day.

The transaction was a true team effort! Leigh Bryant, with a wealth of experience in the Providence Plantation neighborhood, served as the Witherspoons’ seller’s agent and worked diligently through several marketing channels to get Brushy Lane sold quickly. Mary Sessoms, OTMC’s buyer’s specialist, represented the Witherspoons throughout the complicated process of making an offer, negotiating a contract, and setting up follow-up appointments on what would be their new home. It was no small feat!
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We’re thrilled to say that the Witherspoons love their new home. The smiles on their faces are what make all the hard work worth it!

 

Looking to buy AND sell? Find out why a team of agents is a smart bet by contacting us today. We’d love to chat about your specific situation.

 

 

Your Charlotte Fall Home Maintenance Checklist

hearst-tower-1-1562342In Charlotte, autumn means more than changing leaves and lower temperatures for homeowners — it also means time to check off a variety of home maintenance tasks before winter arrives. Whether you live amongst the tree-lined streets of Dilworth or in a golf community in Southeast Charlotte, the fact is, with winter just around the corner, every good homeowner knows that now is the perfect time to knock out a few important projects, before the temperatures drop enough to make it tougher.

What should you include in your fall home maintenance checklist here in the Queen City? Here is a look:

 

  1. Clean the Gutters: The end of fall is the perfect time to clean leaf buildup and other debris out of your gutters, before winter has had a chance to freeze them. Even though Charlotte has fairly mild winters, there is always a chance that the colder months will bring heavy snow or ice, which can potentially pull loose gutters off the house, Take the time now to check all fastenings and make sure your gutters are secure.
  2. Get a Furnace Inspection: Your heating system is likely to see a lot of use during winter, when daily temperatures average in the 40 degree Fahrenheit range, so make the investment now to keep it running smoothly. “For about $80 to $100, a technician will inspect your furnace or heat pump to make sure the system is clean and in good repair,” notes Kiplinger Magazine. Plus, “if you act soon, you’ll minimize the chance of being 200th in line for repairs on the coldest day of the year.”
  3. Minimize Air Leaks: When you’ve got the heat cranked high this winter, you don’t want to let warm air leak outside, raising the costs to keep your home warm and wasting energy. That is why today is a good time to check for air leaks and use caulk to seal cracks or weatherstripping to seal windows.
  4. chimneyGet a Chimney Inspection: Planning to use your fireplace or wood stove this winter? Schedule your annual chimney and flue inspection. Whether you want an occasional cozy night by the fire or plan to use your fireplace for emergency heating, an inspection will make sure you’re ready. Likewise, the Centers for Disease Control and Prevention recommends, “if you’ll be using a fireplace, wood stove or kerosene heater, install a smoke detector and a battery-operated carbon monoxide detector near the area to be heated.”
  5. Seal and Insulate Ducts: Typically located in a home’s attic or basement, air ducts can account for about a 20 percent loss of heating when they aren’t properly sealed and insulated, says Energy.gov. However, “tightly sealed and insulated ducts can potentially reduce your annual energy bills by $120 or more!” That is why taking the time now to get your ducts checked, sealed and insulated is well worth the effort, both for the better heating and cost savings down the road.
  6. Prep Your Outdoor Spaces: Whether you have a deck, a patio or an outdoor grill, the end of fall is typically a good time to start wrapping furniture, putting away gear and prepping your outdoor spaces for winter. Likewise, shut off your exterior faucets, drain pipes and sprinklers, and remove leaves from your deck to help prevent mildew and mold from forming.

 

As one season ends, another begins — so get ready for another Charlotte winter by taking preventative steps to prepare your home now, while the weather’s still warm enough to enjoy being outside. Use the ideas above as a home project checklist so that your property will be warm and well-prepared for the colder months.

 

Article Provided By Sajjan Dhaliwal, the founder of Jas-Am Group. They are a custom luxury homebuilder and remodeler in Charlotte, NC that has been servicing the area and surrounding neighborhoods since 1985.

 

 

 

 

4 Things to Know About Selling Your Charlotte Home in Winter

winter houseIn the Winter…really?

Yes, really! There’s a pervasive myth in real estate that Spring is the best time to sell your home. Of course, springtime has its charms: the weather, the leaves, the birds chirping, etc. But for many people the decision to sell isn’t on a flexible time frame, so if you need to sell in the wintertime there are plenty of reasons not to fret. Your Charlotte house CAN and WILL sell in the winter if you set yourself up for success! Step one is, of course, calling On the Move Charlotte to talk about everything from pricing to staging, but you knew that already…

If you’re considering listing your Charlotte home this cold-weather season, read on.

The Stats Support Winter Sales

Contrary to popular belief, homes may actually sell faster in winter than they do in warm weather! Why is this? Inventory is traditionally lower in wintertime and in Charlotte, inventory’s already at historic lows to boot. Some of the big real estate sites recently released statistics regarding cold weather sales and the results are staggering. Redfin found that listing in December, January, or February gave you the best chance of getting an above-ask offer, and listing in February gave you the best chance all year of selling within 90 days. You can’t argue with data.

The Right Listing Price is Critical

This lesson always holds true, but no more so than in winter. The good news is that fewer home shoppers mean more serious, focused buyers. The downside is that if you test the market and list high, you may have a smaller pool of buyers to turn off before you settle on the correct listing price. When spring rolls around and more homes hit the market your once-overpriced home will look stale by comparison, so talk to your Charlotte real estate agent about how to determine the right listing price for your home in winter.

It’s All About Presentation

fireplaceDon’t be scared by wet, gray weather! In the wintertime you’ve got a great opportunity to create a cozy oasis inside your home regardless of the weather outside. Particularly if your house doesn’t get great natural light, use the weather to your advantage. Light a fire, turn on ambient lights, and be sure the driveway and walkways are clear and inviting. If you’re selling around the holidays, be mindful of decorations and pare down your usual trimmings so you won’t create a cluttered effect. And best of all? Some Charlotte homeowners near Uptown find themselves with a peek-a-boo view once the leaves fall off the trees…play that feature up in your listing!

Be a Special Snowflake

One of the inarguable benefits of listing your home in the wintertime is more attention. Shoppers are more likely to pay close attention to the market and open house dates because they know inventory’s limited. Your agents will likely have less listings, too, meaning you’ll get treated to extra time and marketing attention. Listing your home in cold weather creates a sense of urgency in buyers who know there are dozens of others looking at your property simultaneously – use that kind of focus to your advantage.

 

Michelle picture 2015

Michelle Duyck, Listing Specialist

 

The key to selling successfully in winter? Work with a trusted Charlotte real estate agent! Our team specializes in Charlotte area listings and we’ll help you nail down the right price, market your property, and get it sold for a price you’re happy with. Call us today to talk shop.