Choosing to Relocate To Charlotte?

More and more Americans are choosing to relocate to Charlotte. For many years, the city has seen a steady increase in both its residential population and corporate entities. Nine of the nation's Fortune 500 companies house their world headquarters here in Charlotte, and in the past twenty years more than 170,000 new jobs have been created in the Charlotte region.

Charlotte's robust local economy has become a national model of strength and diversity. Communications is the leading employment sector here, but Charlotte is known for its banking industries. Other types of businesses such as IT, computer and office manufacturing, software design, and electronics manufacturing. And internationally known firms such as IBM, SAIC, Microsoft and GE Capital are proud to be some of Charlotte's leading employers.

While Charlotte has long been a haven for retirees, the city is also one of the most popular relocation destinations in the country for professionals and families. The city offers all of the amenities, attractions, and excitement of a major metropolitan hub, but maintains the cozy, close-knit feel of a much smaller town. Charlotte is not only one of the nation's most beautiful cities, there is truly something for everyone here!

Want more information about the Mint Hill, Matthews and Charlotte area real estate market? Check out http://www.minthillrealty.com/

Ten Best Suburbs to Sell a Home

(from a recent Forbes.com article by Matt Woosley)

As we close up the year 2008, the US housing market is undoubtedly under stress, but in some parts of the country, like Matthews, North Carolina, selling a home is still a comparatively easy undertaking.

In Berkeley, California, prices are up 9% this year, with homes selling for a median price of $790,986. These California properties are sitting on the market for 73 days on average, which is low for the country right now. And better yet for our friends in Berkley, only 37% of sellers have been forced to reduce their prices to get their homes sold—one of the lowest rates in the country.
Berkeley is in good company: Venice, California; Bedford, Texas; Kennesaw, Georgia; and Montclair, New Jersey, are all also on the list of suburbs with the best conditions for sellers. The folks at Forbes.com looked at the suburbs in the country's 75 largest (census-defined) metro areas based on the last 90 days of sales activity, (research provided by Altos Research, a Mountain View, California). The study was narrowed to those cities with an inventory of at least 75 homes on the market, and suburbs where it currently takes more than 125 days to sell the average home were also eliminated. Cities like Sacramento, California, and Los Angeles are among the easiest to sell a home, (based on sales data from Radar Logic, a New York real estate research firm), but homes are mainly selling at massive discounts—so they were eliminated from the final list as the “best places to sell a home.” Also eliminated were any other suburb where year-over-year price declines were steeper than 10% and where more than 50% of sellers had to reduce their asking price to sell their home.

All that said, areas like Encinitas, Calif., and Matthews, N.C., where among the locations where homes are staying on the market 100 and 127 days respectively, made the list even though the wait times indicate a buyers' market.

Waltham, Mass., has the second-quickest turnaround of any suburb on the list, with only 79 days average on-market. Waltham, a middle-class suburb west of Boston, has seen 1% price appreciation over the last year, and only 53% of sellers have to reduce their price in order to make a sale. While this does not indicate the strongest of markets, it does put Waltham in a better position than many cities in the US.

Here is the Forbes.com list of the 10 best places to sell your home:
1. Berkeley, CA
2. Bedford, TX
3. Venice, CA
4. Kennesaw, GA
5. Sugarland, TX
6. Midvale, Utah
7. Matthews, NC
8. Encinitas, CA.
9. Waltham Mass.
10. Montclair, NJ

So what does all this mean to you? If you are buying a home in Charlotte, than you can find that there are some great deals out there still—and you can feel comforted by the fact that our property values are holding still or growing despite the economy. You are making a good investment with a property in Charlotte. And if you are a seller, than you are lucky to be in or around Matthews, where you are likely to get close to your asking price…and in an acceptable amount of time!

Are you looking to sell or buy a home in Charlotte, NC? Call Rich Ferretti at 704-564-0807.

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Charlotte Economy Woes? Half Empty or Half Full?

Dear Rich,

My wife and I recently moved to the Fort Mill area (South Carolina) and have been delighted by the friendly people and affordable housing (we are from NYC). But there are some things that make us nervous as first time home owners. Certainly the economy in Charlotte is better than most places, but with the banks in turmoil and gas prices high and all that comes with that, we are looking at ways to cut back, and save and just make good financial decisions. Do you have any advice for a young couple who just bought their first house so that we can protect ourselves from the struggle that so many of our friends are going through across the country?

Robert S., Baxter Village, Fort Mill

Dear Robert,

Thanks for writing in--and you are smart to consider how to make the best of this situation. I am an optimistic person, but I have also seen the ebb and flow of the economy over the last many years. Now, this is a tough time, no doubt, but there is a lot to think positively about.

First , we live in one of the best places in the country for jobs, home values, and prices. Because of the banking industries here in Charlotte, there is a base that will keep us from suffering like other parts of the US. In fact, with the dreadful news the last 2 weeks, I actually think that we will be seeing a positive influx as the banks merge. We could end up growing and gaining far ahead of what we could have expected.

Second, Charlotte was never pushed by big value swings like California and Florida, so our home values are at what they should be. Your property value should rise--slowly, but consistently--like it should. So while it may seem scary now, be assured that you made a good investment.

Third, we are smart. Having gone through this, we know how to get through it if we make good decisions. My advice is to not over extend yourselves, shop smart, drive when necessary, and consolidate trips when possible. In fact, you and your wife may be great candidates for a program called uFirst Financial--which helps you pay off your mortgage in a fraction of the time through a smart and proven process. This way when we hit a little bump in the economy next time, you will have more equity in your home and less debt. I would love to talk to you about this option. I am excited that it has been able to help so many people I know, and I think that given our current situation, it just makes good sense.

Give me a call at: 704-564-0807, for more information on uFirst and how to protect yourself in the next economic slowdown--or if you have any other questions that I can help with.

Congratulations on your new home in Baxter--that is a beautiful neighborhood!

Rich Ferretti

Want more information about the Charlotte area real estate market? Check out www.richferretti.com

Charlotte: #7 Hottest Job Markets

Charlotte, NC has another reason to celebrate --We have been ranked #7 in the Hottest Job Markets, making Charlotte an even more attractive place to live.

Only five markets have gained at least 14,000 jobs since the summer of 2007. Among them is Charlotte, which has added 14,200 jobs in the last year. This remarkable one-year growth rate of 1.9 percent ranks fifth nationally. And while the past year, and especially the past couple months have seen the U.S. economy struggle, Charlotte, North Carolina continues to hang on and even thrive.

The bad news for the country is that we have seen 394,000 private-sector jobs slip away since mid-2007, perhaps this has affected you or someone you know. Certainly many people are feeling the economic slow-down. But a few sections of the country--including Charlotte have managed to avoid this economic turmoil.

Charlotte's Stats:
Private-sector jobs as of mid-2008: 773,300
Unemployment rate as of mid-2008: 6.3%
Private-sector trend since mid-2003: Added 96,100 jobs
Five-year growth rate: 14.2%
Private-sector trend since mid-2007: Added 14,200 jobs
One-year growth rate: 1.9%

(*from a study from BizJournals 2008)

Want more information about the Charlotte area real estate market?

Check out www.richferretti.com