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Charlotte Real Estate Market

Saturday, October 3, 2020   /   by Rick Devine

Charlotte Real Estate Market

Remember earlier this year in March when everyone was trying to buy toilet paper but there was none available? Well, that's kind of how the housing market is right now and has been for some time. The big question though …. is how long will that last?

At the on-set of the COVID-19 Pandemic, if you recall, I sent you an email outlining what was coming. In simple and easy to understand terms, I briefly discussed the surge in sales activity that was extremely likely to occur going into the coming months. As the market stands today, we are at a 14 year high!
In the Myrtle Beach Pawleys Island area markets we are experiencing tremendous growth. Growth in housing values, sales volume, and population. The real estate market we are in right now is truly unprecedented.
Here are a few things you might want to consider that could shape our real estate markets in the near future.
  • Shadow Foreclosure Inventory – Until May 15, 2020 there was a federal moratorium on foreclosures. NO FORECLOSURES were filed for months. Even now, banks are slow to file because of court restrictions, potential loan modifications, and many other variables.
  • Job Loss / Furloughs / Business Closures – Since March, there has been major disruption as a result of COVID-19 in all businesses. While tech has flourished and the real estate market has boomed… some other businesses have floundered. Many institutions and businesses have cut work force tremendously while some will soon be closing their doors.
  • Unknown Variables – There are several unknown variables that could impact the markets in a positive or negative way over the next few months including: The Election, Supply Chain Issues, Consumer Confidence, Additional Stimulus or lack thereof, COVID19 Requirements, and more.
This is only a brief description hitting the high points. If you would like to discuss in more detail, please feel free to
call me directly on my personal 704-618-7184

My general advice moving forward: Focus on what we know today rather than speculate – Whether you are investing in real estate or buying a beach house... there is no such thing as a bad time to sell or a bad time to buy. Everyone’s situation is different. At the end of the day... you have to do what’s right for you and your family.

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Coldwell Banker Realty - Ballantyne Area
Rick Devine
3440 Toringdon Way Suite 100
Charlotte, NC 28277
Featured real estate company is not a mortgage lender and so you should contact Atlantic Bay Mortgage Group, L.L.C. directly to learn about its products and your eligibility for such products. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlsconsumeraccess.org) is an Equal Opportunity Lender. Located at 600 Lynnhaven Parkway Suite 100 Virginia Beach, VA 23452.

Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
Based on information submitted to the MLS GRID as of 5/29/2024 11:31 PM CST. All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.
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