Saturday, January 07, 2006

Today was a learning experience. I was out with a client from Florida. Nice guy that needed a specific priced home in a specific area. Nothing special, just a $200,000 dollar home in the southern portion of Charlotte suburbs. He asked me to take him to some of the new construction neighborhoods so he could compare them to the used homes on the market. Everywhere I went the same story was heard. No one had a spec homes in progress. It seems the builders don't want to carry any debt into the new year even at the risk of losing clients to the used home market. The worst part is each builder says they are 5 months out from completion of a new construction home to be built. We went to 2 Ryland neighborhood sites and 2 Ryan neighborhood sites. We did find a Tuscan home that was on the road frontage lots. My client was happy to see one builder with the nerve to carry stock crossing into the new year. Every used home we visited seem to be the dog on the block. Each needed some TLC. Many were over priced. I don't see the bubble bursting in Charlotte I just see a lack of stock on the streets. I assume this will all change as we get closer to spring. The agents who are listings the over priced, under cared, homes really need to counsel their clients. I suggest they take them out and tour them through other homes in the area for comparison.

1 Comments:

Blogger Mike Panic said...

I don't think the bubble will burst, however the rate at which used homes are being sold is staring to flatten out a bit. With intrest rates on the uprising again, don't be surprised if this trend slows down.

9:58 AM  

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