Real Estate Information

Overview of the single family real estate market for Charlotte, NC (as of Jan 3 2007):

• Currently on the market: 3625 homes (on the market an average of 96 days)
• Currently under contract: 1645 homes (on the market an average of 71 days)
• Sold in the last 60 days: 3334 homes (on the market an average of 72 days)
• Lowest current price:  $34,000
• Highest current price: $6,999,900

Overview of the condo/townhouse real estate market for Charlotte, NC (as of Jan 3 2007):

• Currently on the market: 1524 homes (on the market an average of 130 days)
• Currently under contract: 825 homes (on the market an average of 85 days)
• Sold in the last 60 days: 1068 homes (on the market an average of 77days)
• Lowest current price: $26,000
• Highest current price: $3,450,000 

For more information on the real estate market in Charlotte, NC and surrounding areas, please visit www.leighbrownandassociates.com

Overview of the single family real estate market for Concord, NC (as of Jan 03 2007):

• Currently on the market: 573 (on the market an average of 128 days)
• Currently under contract: 141  (on the market an average of 74 days)
• Lowest list price $29,900
• Highest list price $1,499,999
• SOLD in the last 60 days: 496 (on the market an average of 75 days)

Visit http://www.leighbrownandassociates.com/ for more information on the market in Concord, NC and surrounding areas.

Overview of the single family real estate market in Harrisburg, NC:

• Currently on the market, 84 homes (on the market an average of 107 days)
• Currently under contract, 27 homes (on the market an average of 57 days)
• Closed in last 60 days, 68 homes (on the market an average of 70 days)
• Lowest price listed $144,500
• Highest price listed $660,000

Visit http://www.leighbrownandassociates.com/ for more information on buying or selling in the Harrisburg NC area!

For homes sold from November 1-November 30 2006 (data courtesy of Carolina Multiple Listing Service):

Charlotte NC:

• 986 single family homes sold (a decrease of 9% vs same period 2005)
• Average of 71 days on market (vs average of 73 in same period 2005)
• Average sale price of $226,083 (an increase of 1.7% vs same period 2005)
• Average list price of $226,574 (ratio of list price/sales price at 97.6%)

 You'll note that our prices are up and our sales are pretty steady...so if you're looking for a safe haven investment or are ready to purchase that dream home, Charlotte and surrounding areas are doing great! 

For additional information on Charlotte or surrounding areas, please feel free to contact Leigh Brown at leigh.brown@remax.net!

For the period of November 1-November 30, 2006 for Cabarrus County (including Kannapolis, Concord, Harrisburg, Mount Pleasant, and Midland).  Data collected from Carolina Multiple Listing Service.

• 237 single family homes sold (a decrease of 2% vs same period 2005)
• Average 82 days on market (vs 95 same period 2005)
• Average sale price of $188,460 (an increase of 10.4%)
• Average list price of $191,188 (ratio of list price to sales price tighter at 98.5% (97.5% in Nov 2005))

 This is a great time to buy in Cabarrus County-we're growing at a fast rate being so close to Charlotte-but just over the county line for lower property taxes and a strong public school system!  The North Carolina Research Campus in Kannapolis is booming right along in its construction phase and is scheduled to be open for the first few companies in 2007.  For more information on Cabarrus County, or more specific market information on any of these towns, contact Leigh Brown at leigh.brown@remax.net.

Now that I've hooked you, note that I mean the other meaning of 'discount' here.

Many sellers in our marketplace are in denial about new construction.  Even though they drive by the crazy corners on the weekends, with 15-30 new construction lead-in signs indicating a new neighborhood here and a builder closeout there, many folks still don't think it applies to them.

Let's think about this from the buyers' perspective, shall we?  This very subject was front and center for the past three days as I worked with a retiring couple who are moving to the Charlotte area from New Hampshire. Their first preference was resale.  There are so many issues to consider in building a custom home from several states away-and they weren't sure that they'd want to go through that process over the next year.  So we looked at resale homes all over the metro market.  To a one, they required SOMETHING.  This one had hardwoods throughout the home in need of refinishing.  That one had brass fixtures and white cabinets (both are dated, if you haven't been keeping score with home trends).  The other one had wallpaper everywhere.  And I can go on and on and on...

Nothing made their eyes sparkle.  And you know, these homes weren't even priced out of line. They just hadn't put their best feet forward!

So we looked at lots.  Talked to builders.  And visited builder spec homes. AHA!  Found the ideal house, fully finished, and a builder who was more than willing to add in a few additional upgrades to satisfy the needs of my clients.

Know this:  the smell of new sheetrock is VERY seductive.  You might say:  'well, the builder had to add upgrades-so why didn't they buy MY house and just have me redo the floors?'  It's two different things altogether.  In our marketplace, buyers don't want to HAVE to do anything to move into a home.  And when you're in a neighborhood where your competition is new construction, do yourself a favor.  GO SEE IT.  See what you're up against.  SMELL what you're up against.  And realize that spending $20,000 on the right upgrades or on stripping wallpaper will be less than the next $50,000 price reduction.

What was that old saying about 'the devil you know vs the devil you don't know'?  Think about it and educate yourself.  And get that house sold!

First off, allow me to say that licensing laws vary from state to state and region to region and there are most assuredly other groups like local MLS boards with their own procedures and rules as well.

An earlier post today by the illustrious Jeff Turner spoke about his very poor experience in selling a home.  And that he put up with rather pitiful, unprofessional-well, just overall sorry-behavior because he felt that he was being honorable in keeping to the original agreement.

Folks, know this.  You don't have to put with that kind of crap.  And this is the only way you can find out that you have an option-since I'm not talking to anyone in particular, just offering up anecdotal information about possibilities.  After all, each real estate brokerage is slap full of independent contractors operating their businesses in their own way.

If you want out, you have to do the initiating of the firing.  You have to go through the brokerage-not just the agent-since that agreement you signed is technically with the brokerage. (Note to consumers: read that agreement you're signing and know that certain companies will simply reassign you at will if the agent that you think you hired leaves.)  Let the agent know what they've done wrong (heck, allow an opportunity to correct mistakes if you feel so inclined-I for one appreciate an opportunity to correct an error if one was made).  If you are still unhappy with your representation-FOR YOU ARE THE EMPLOYER WHETHER YOU ARE BUYER OR SELLER-contact the broker in charge and ask to be released from your agency agreement.

An honorable agent and brokerage will let you go your merry way and not create poison business by hog-tying you down by virtue of a piece of paper.  I mean, let's be honest.  Agents and consumers alike.  If you are in a relationship that is being poisoned by one party or the other-can you truly communicate properly so as to bring a transaction to a successful conclusion?  (Yes, agents out there, I'm saying FIRE the buyers and sellers who are impossible-this goes both ways.)

What if they won't let you out?  Well, I hope that you at least requested a reasonable time period on your agency agreement and aren't tied up for two years or something ridiculous like that.  If you've got a listing that's being held hostage, take up the sign.  Refuse all showings.  Make yourself completely difficult.  If they realize that you're not going to allow the property to sell, you might just get released.

Bear in mind that no matter how much I love you and want your business, I CAN NOT approach you while you are bound to another agent.  More than that, I WILL NOT because I take my ethics seriously.  But you CAN approach me.  That's the little secret (shhh).

Why, you may ask, is this silly rule/law even in effect?  It was actually implemented to protect buyers and sellers from agents continually scheming after them, and to protect agents from other scheming agents.  Instead, it winds up protecting weak agents who aren't good enough or strong enough to EARN your business.  Those are the ones that don't want to release you because they are afraid that they can't replace you.

I say all of this with the knowledge that I say this to MY clients.  It's in writing in my pre-listing package that you have an unconditional easy exit guarantee with me.  If at any time you feel that I'm not living up to what I promised up front, or if you feel uneasy about me? Fire me.  I'd rather part ways as friends who just aren't business-compatible than part as poisoned enemies.  There's not a perfect fit for all buyers and sellers with all agents.  If that were the case, there wouldn't be all these myriad personalities who are successful in this business.

I write this, hoping that many of you out there who slam real estate teams, will see it and understand perhaps that all are not created the same.

Several comments I've read lately on other blog posts indicate that mega-producers let things 'slip through the cracks' and 'hire $10 per hour assistants to do the leg work', etc.  Implying that teams are bad.

For you consumers out there who hate the jargon we get into in real estate...single agents are just that-single agents, who do everything themselves.  Work buyers and sellers, handle contracts, do marketing, print brochures, etc.  Teams are usually one rainmaker/team leader with additional people handling the same set of clients-an assistant to handle clerical tasks and mailings, buyer agents to work with cold leads (i.e. sign calls), listing managers to do brochures and marketing and such, technology managers to do the internet work, etc. 

There are as many different kinds of team approaches as there are single agent approaches as there are brokerage approaches.  All are not created equal.  While I will grant you that some teams are so large as to operate as meat markets, there are also small teams.

I for one am a small team.  Myself as rainmaker (I handle all listings and generate leads and manage the business), my right-arm-woman as licensed assistant, two buyer agents, a courier, and a recently added virtual assistant.  I know all clients of myself and my buyer agents, I know what's going on with inspections and closings and the pitfalls that my assistant runs into between contract and closing.  I handle these things.  Assuming that I don't know what's going on because I have hired others to handle different specialties in the business?  An incorrect assumption.  Assuming that I can't convert cold leads?  An incorrect assumption.  In fact, I'm so good at talking to suspects that the reason I have buyer agents-who I have trained in the best ways of doing business-is to properly service more clients since there are limited hours in the day and week.  Assuming that I make a living off the backs of others?  Another incorrect assumption.  On the contrary, they make a good living working for me and benefitting from my years in this business and the many transactions I've been a part of, in the way of expertise and knowledge (which benefits our clients).   I would wager that the buyer clients of my buyer agents are better serviced than many of the buyer clients of some single agents, since the buyer agents are completely and utterly focused on the buyers.  I would wager that my seller clients are better serviced than many seller clients of some single agents, since I am focused on generating calls on their property and turning those calls into contracts.

So the next time you go into a listing presentation and you're up against a team, don't slam the team for being busy or being bigger than you-it's simply a different business model. And honestly, the minute you start slamming the competition, you've proven that you can't compete. 

Cabarrus County Schools are in need of flags!  Yes, the initiative to say The Pledge of Allegiance on a daily basis has gone into effect...and many of our classrooms lack North Carolina flags and US flags.   Can you help?  Approximately 1677 NC flags and 533 US flags are needed.

If you can help, flags in bulk cost $4 each.  Please mail a check made out to Cabarrus County Schools, with flag project in the memo line, to:

RE/MAX Signature Properties,

Attn Leigh Brown

7752 Gateway Lane Suite 200

Concord NC 28027

Let's see if we can get every classroom decked out!

I had long suspected that I had moved from the 'threatened' list to the 'endangered' list....and now I have it in writing!

(not that I'm comparing myself to a Dodo bird!)

Today's edition of The Charlotte Observer had an article talking about the surge of growth in North Carolina's population-we're now number 10 (sorry New Jersey, you got bumped!) in overall population size, and number 7 for fastest growing states.

What is interesting to me in particular is where people are coming FROM. There's a long-standing joke around these parts that the last one to leave Buffalo NY should make sure to cut the lights off!  New York leads the list of migratory 'birds' heading south to North Carolina.  Closely followed by Florida (the source of the newest breed of snowbird, the 'halfback').  The number six source of newcomers is Mexico. I think that if illegals were properly represented in these numbers, it would be number one by a looooong shot.  But that's a soapbox for a different time and place!  Number seven source is California-and I know that's true, since I have worked with a lot of folks over the past year (and a bunch in the pipeline) who are escaping the high cost of real estate and living in general on the West Coast for the beauty of North Carolina's four seasons.

The main reasons being cited for the growth patterns are:

1.  Retirement (the halfback phenomenon is at full steam and the builders and developers (i.e. Sun City) are taking full advantage of this market shift.  As are healthcare providers and the like.

2. Proximity to friends/family.  Which makes perfect sense when you consider how many corporate jobs are portable-and that Charlotte is the nation's first or second largest financial city (we are currently trading that position back and forth with NYC-I know it's unbelievable, isn't it?).  So as the kids move here for their white-collar up-the-ladder jobs, the parents move to be near them and near the grandkids.  And since their friends are doing the same thing, their social networks are actually somewhat intact!

3.  Economy. See the job mention in number 2, plus consider that we still have inexpensive (relatively) land available for builders, affordable housing no matter your income level, tons of corporate headquarters, etc.  It's a self-fulfilling prophecy.

4.  (this is my personal opinion, the folks who did the study must have missed it) This is a Great Place To Live.  Whether you're raising a family, have grown kids, have no desire to have a family, live the high life, are retired.  No matter, there is something here for you!

And if I somehow forgot to mention it, our team specializes in assisting relocating families-so feel free to call or email us if we can ever help you, your family and friends, or your clients.