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!

 

KW Family Reunion 2016: What We Learned

Whew! After a whirlwind of a week in New Orleans, we’re back from the Keller Williams Family Reunionthe biggest gathering of KW associates of the year! You guys, there were over 15,000 associates there!

This breakout seated 550 people...and folks STILL spilled into the hallway!

This breakout seated 550 people…and folks STILL spilled into the hallway!

The Family Reunion conference is always a super-fun mix of training sessions, social events, and important company meetings. There were some great keynote speeches and, of course, KW CEO Gary Keller delivered an outstanding 2016 “Vision Speech.” Some of our favorite takeaways from that message were:

  • Buyers look for integrity and honesty, and 53% find an agent through referrals. Over 89% of buyers still use an agent to find a home.
  • 75% of college grads have at least $29,000 in student debt. That means first-time home buying is happening later in life – the rate’s around 32% when it should be 40%.
  • For every 1% the average mortgage rate increases, the average home price increases 10%!

In other great news, 2015 was a record breaking year for Keller Williams. Overall closed volume was up over 24% and KWRI now employs over 134,000 associates. That’s incredible! This is, of course, because Keller Williams offers such phenomenal training to all its associates. In fact, Training Magazine just named us the #2 training organization across all industries in the entire world. As Gary Keller says, “Real estate is all about opportunities.”

All the KW Southpark associates that attended Family Reunion 2016

All the KW Southpark associates that attended Family Reunion 2016

Per usual, the Keller Williams SouthPark office was well represented in New Orleans.

We can’t wait to put into action all the great things we learned for our clients, and continue developing the new bonds we formed this year at the Family Reunion. Events like this one prove once again that KW is a fabulous place to work!

 

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!

 

 

Leigh Bryant Featured on the Cover of Top Agent Magazine!

Top Agent Magazine is the premiere real estate magazine in the U.S., featuring top agents all over the world.

That’s why we’re SO excited to announce that the December 2015 North Carolina edition of Top Agent Magazine features On the Move Charlotte’s very own Leigh Bryant on the cover! Not only that, the issue includes a full six-page spread on the team and their accomplishments, as well as an interview with Leigh herself.

Read Leigh’s feature by clicking on the cover below,
and check out this month’s NC Top Agent Magazine here!

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Congratulations, Leigh!

 

 

This Month in Real Estate: December 2015

What does the national real estate market look like right now?

Check out this short video from Keller Williams for a peek inside some important numbers for buyers and sellers from December 2015.

And of course, contact us if you’ve got questions about what these numbers mean for you!

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Tips for Ensuring a Favorable Home Appraisal

Appraisals are big business in the real estate industry, referenced by both lenders and homebuyers as a benchmark for a property’s “true” value. Recently, however, as reported by Reuters, homeowners are having a difficult time obtaining what they believe to be a fair estimate for the value of their home from California to Florida.

 

A low appraisal can impact a homeowner in several ways. In many cases, homeowners seeking a refinance are denied when a bank-ordered appraisal comes up short. Other homeowners looking to sell find resistance from the market when they list their homes above its appraised value.

If you’re going to undergo an inspection by an official licensed appraiser in the near future, here are a few suggestions for ensuring you get the very best appraisal value possible for your home.

CHOOSE THE RIGHT APPRAISER

One of the biggest mistakes homeowners make when ordered to get an appraisal is to choose an appraiser who doesn’t have intimate knowledge of their specific neighborhood. If you’re able to choose your own appraiser, select one who’s based no more than 10-miles away from your home and preferably living in your community. If the bank is selecting the appraiser specifically request they send a local licensee.

KEEP GOOD RECORDS

Before the appraiser ever arrives at your home, take some time to pull records concerning every upgrade or renovation you’ve made to the house. Include receipts from home improvement stores and estimates for work done on the house and before-and-after pictures, if possible. It’s also smart to reference local comparables in the neighborhood you think the appraiser should be made aware of. Ask your real estate broker to help identify three solid comps near your home and be sure they find the right hands.

CLEAN UP AND BE CONFIDENT

Just like homebuyers, appraisers are human beings and often have a hard time seeing past a home that’s cluttered, dirty, or overgrown. Present your home to an appraiser the same way you would to the open market to get the best results. Never follow the appraiser around while they’re in your home unless specifically requested – appraisers say not being allowed space to properly inspect the home is a surefire sign the owner has something to hide.

GET YOUR OWN APPRAISAL

If you’re in a situation like as a refinance where you’re forced to work with an appraiser not of your choosing, shell out a few hundred dollars and get an appraisal of your own. You’ll likely have more control over the selected licensee and can lobby against a bad appraisal with a higher one if necessary.

Don’t be afraid to get directly involved in your home appraisal. Many homeowners don’t understand that an appraisal happens with them, not to them, and may underestimate the impact pointed questions and suggestions can have on the appraisal outcome.

If you’re looking for a qualified appraiser in your area or just have questions about whether or not you need a home appraisal, call Leigh Bryant’s team at Keller Williams Southpark to speak about your options.