Leigh Brown and Associates RE/MAX Signature Properties 704-688-5005 Fax: 866-440-7136 7752 Gateway Lane, Suite 200 ConcordNC28027
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Presented by: Leigh Brown and Associates
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Near-Term Home Sales to Stay in Narrow Range
The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors®.
The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an upwardly revised reading of 89.4 in June, which had risen 5.8 percent from May. The July index remains 6.8 percent below July 2007 when it stood at 92.8.
Lawrence Yun, NAR chief economist, said home sales continue to edge up and down. “Pending home sales are oscillating month-to-month, with the long-term trend essentially flat,” he said. “Overly stringent lending criteria imposed by Fannie Mae and Freddie Mac in the past month no doubt held back contract signings.” National Association of Realtors®
Let’s take a look at the sales statistics for August 2008 to see how the Charlotte NC real estate market looks:
Cabarrus County
In Cabarrus County, the average sales price increased by 8% in August 2008, to $230,186. The number of pending sales increased by 3%. While the average list price rose 15% to $288,036, Homes were on the market an average of 26 days longer than in August 2007.
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Date
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New
Listings
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Pending
Listings
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Sold
Listings
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Average
List Price
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Average
Sold Price
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DOM
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August 2008
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426
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221
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169
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$288,036
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$230,186
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103
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August 2007
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443
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215
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243
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$245,200
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$212,257
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77
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Mecklenburg County
Mecklenburg County also experienced a slowdown in August 2008, compared against August 2007. The number of new listings dropped 27%, pending sales were down 32%, and the number of sold homes decreased 39% from last August. The average list price increased 4% to $281,378, but the average sales price dropped 4% to $233,178. Market times increased by 18 days this August.
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Date
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New
Listings
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Pending
Listings
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Sold
Listings
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Average
List Price
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Average
Sold Price
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DOM
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August 2008
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1,755
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915
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823
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$281,378
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$233,178
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83
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August 2007
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2,409
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1,340
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1,349
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$268,858
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$242,650
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65
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Again, as Lawrence Yun said and as these statistics show, home sales are moving up and down, even within the same city. For the latest Charlotte NC real estate market conditions in your area, please call me at 866-440-7136 or visit LeighBrownAndAssociates.com.
Statistics compiled by the Charlotte Multiple Listing Service and are deemed accurate but not warranted.
Water Saving Measures Made Easy at Home
 Almost half of the toilets in the United States use 3.5 gallons of water per flush, even after a federal mandate in 1992 limited all new toilets to 1.6 gallons. Which means Americans are wasting water.
But there are ways to cut back on the waste, not only per toilet flush, but every time the shower runs or vegetables are washed in the sink. The Environmental Protection Agency promotes water efficiency and enhances the market for efficient products, programs and practices using the WaterSense label.
Several manufacturers that actively support WaterSense are taking the federal mandate of 1.6 gallons of water per flush to a new level. Kohler Co. has developed toilets which use only one gallon of water, and there are several models available at the 1.28 gallons-per-flush level. Dual flush toilets allow users to choose a level of water -- 0.8 gallons for liquid wastes and 1.6 gallons for solids -- with improved flushing technology, meaning consumers are not going to lose out on performance or design.
If the average family of four people changes their old, 3.5 gallons-per-flush toilet for a high efficiency, 1.28 gallons-per-flush toilet, they could save 20,000 gallons of water a year. If every household did the same thing, more than 1 billion gallons of water would be saved.
“Homeowners are wanting energy-efficient appliances to save money around the home, and they shouldn’t overlook plumbing products,” says Master Plumber and Contractor Ed Del Grande, host of “Ed The Plumber” on the Do It Yourself Network. “By replacing toilets with newer models that flush much less water, but still perform to expectations, an average family can save a lot of water. And we know that performance cannot be understated. What good is a water-saving toilet if you have to flush twice?”
But toilets are just the start. The standard rate of water flow in the shower is 2.5 gallons per minute. That can be cut in third by installing a high-efficiency showerhead, and many showerheads can be adjusted to get the high-pressure power massage, if wanted.
The third water-saving opportunity in every household takes the least amount of work. Faucet aerators are the screens water passes through as it leaves the spout. The replacement of a 2.2-gallons-per-minute aerator with a 1.5-gallons-per-minute aerator reduces water usage by 30 percent. (ARA)
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RE/MAX Signature Properties, 7752 Gateway Lane, Suite 200, Concord, NC, 28027
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