Charlotte, Nc Real Estate Market: Creative Ways To Sell Your House

By: Donte Aka GetSmart
Submitted: 07:41PM on Saturday 13 September 2008

Charlotte, North Carolina - 9-13-2008

Earlier this year the Charlotte real estate market seemed to be strong as a buck. The values stood through hard times that quickly flooded Florida, Detroit and a few other markets. Bank s foreclosures have plagued some of the strongest markets across the country. According to a local news station, Charlotte house prices dropped around 25% and the amount of homes sold for July 2008 dropped 29%, as well, from the previous year.

The July studies from a prominent sites directed by the association of real estate agents mentioned that the amount of houses on the market in Charlotte were 30,888 houses in the month of July 2008. Numbers prove that homeowners might need to look in being creative to sell their homes quicker. Traditional selling is no longer working and the amount of inventory goes to show that the market has been out of hand for some time now.

It would take nearly 10 months to sell all the homes on the market right now. Real estate agents have been struggling to try to sell the massive inventory of houses that sit on the market month after month. Only around 3,800 houses sold in July, which equates to about 10% of the entire stock of homes. The shocking part was in July 5,600 homes entered the market or about 20.1% more houses are being added to the existing home sales.

Real estate agents are trying their best to sell your houses but with all of the homes you need to make yours stand out. Whether you need to adjust the price, add incentives or good terms, you are almost guaranteed to sell quickly if you make the proper adjustments, than trying the same old approach that has the market loaded more than agents can handle.

First you don't want to buck the Charlotte real estate market. Foreclosures are the highest they have been in 20 years. The market is cooling off from a constant appreciation of 4% yearly since 1988, which has left the market blistering. That's a long time for any market to maintain now the region is self correcting or making proper adjustments to type or amount of good paying jobs and the movement of the economy.