All very good points, it’s definitely getting better and I think it will continue to do so in the future. There’s just so much economic uncertainty. I’m just scared that the govern won’t allow a recession and they start to print money again and we go into hyperinflation. If that happens we’re just kicking the can down the road. Unfortunately we will never know, just need to wait and see.

Thanks Todd, you know I will!

We’re getting a $800 Million dollar renovation on the stadium lol

@@SasaMLivinginCharlotteNC yeah but I prefer a dome stadium so we can host the super bowl and final four but we need more hotels anyway

That’s what I’m here for!

Love to hear that man, that’s what this channel is all about! Thanks for watching as always 💪

There’s definitely pros and cons to both, just depends on personal preferences. A lot of people are leaning toward newer construction these days.

Completely agree, it’s no longer cheaper to buy than rent and I feel a lot of people have the same sentiment as you do.

Thanks for watching!

Turning as we speak, however I don’t think anything too drastic will change in prices but I believe a decent correction will come. A much needed one.

👑

Thank you, that means a lot to me.

I think you might have misunderstood something in regards to the 3 years. I only give advice to my clients since I know their wants,needs and goals. These market reports are done to give people a general idea and an easy way to digest the info of the market. Every person, every home and situation is different so it doesn’t apply to everyone.

That’s correct, prices have gone up in the last 3 years, just like a 100% of the homes in Charlotte have. In regard to pricing home buyers look at comparable sales, not what it sold for years ago. That wouldn’t make too much sense. However if you’ve seen my channel, I do agree, higher rates for longer to give people a relief of pricing and inventory. All best!

Agreed

And who the heck wants to pay an HOA?

Work my have been going down but prices has not.

The I buyers like Opendoor and offerpad no, they always seem to be way overpriced and then they do small couple thousand dollar decreases over a year. Homes owned by companies like invitation homes yes, these companies have sold in some areas and even for a loss. They just can’t dump a large number of homes at once, depending on the company contracts with their shareholders. I know one company has in their stipulations they can only sell 1.5-2% of their property portfolio per year.

@@SasaMLivinginCharlotteNC thank you for the update. I rent from FirstKey and they wanted to raise my rent in Concord and I’ve always paid on time . After informing them I was not going to sign a new lease they were willing to negotiate . Rent remained the same.

I personally don’t think 30% but it does depend on the specific home in question because yes some of them definitely are. I think a 15-20% correction would be more than enough and a lot more realistic. Let’s see how it plays out!

Real Estate Mindset says more. Central Appraisal Didtricts. Corrupt. Tied to school systems

Exactly right.

I took mental notes of all the realtors that said that and kept saying it’s always a great time to buy

​@@Jason-zh5ztall of them?

I don't think you quite understand his comment. He was speaking specifically about people who could get approved but clearly couldn't afford certain homes based on relying on a refi within a year.

That’s exactly right, my context was talking about people who only had enough money to comfortably afford their mortgage payment for 8-12 months with the plans or refinancing in a year, those buyers overstretched themselves and never had a chance to refinance and that’s why I believe your seeing a lot of homes that were purchased 1-2 years ago back on the market now. And a lot are taking a loss. Don’t forget, in order to refinance you need equity in the home. If someone buys today and wants to refinance in a year and home price come down 10-15%, sorry no refinance because your home is worth less. In regards to inventory, just look at the data my friend, inventory is slowly rising every year, just as it went down every year in 2020. We literally have the same inventory we did pre pandemic. Not to mention we have over a 3x of inventory than we did in 2021. You can’t stay in a tight market forever. There is a threshold of price that at a certain point people just can’t afford. If every house was 500k how many people could afford that? Not a lot, look around, talk with people you interact with daily and you’ll find that your average joe simply can’t afford a 400-500k home. I use to be a paramedic and have a lot of friends in the first responder sector, 80%+ can’t afford to but a home without getting a second job. I am very bullish on the housing market and I think buying real estate in Charlotte is the smart thing to do especially if you’re looking at a long term play. I just don’t want people to get ahead of themselves and believe that a correction isn’t possible because when people start to believe that, that’s when it happens.

@@SasaMLivinginCharlotteNC that’s a pretty fair response. Sorry if my comment was crass. I know inventory is expanding. I just expect it to get gobbled up by eager buyers quickly when interest rates start getting lower, and they are getting lower in the short term (1-3 years). Then, in 5-10 years when 40 year mortgages hit the mainstream and it causes monthly mortgage payments to fall by 30%, prices will explode. Your paramedic friends and average joes can easily afford a 400k-500k home when it is Spread out over 40 year monthly payments with a lower interest rate. Then in that same 5-10 year period a whole new generation enters the housing market. I think prices see a 5% correction in the short term, but I don’t see any 2008 type scenario happening anytime soon. Maybe a 5% correction in the next 6-12 months, but a 30% gain or more in 5-10 years.

@@SilverCpa if they couldn’t afford it at lower interest rates and cheaper prices back in 2021, then they certainly couldn’t afford it now. So, it would have still been good to buy in 2021 as opposed to waiting and getting completely priced out and staying a rent slave.

@@ncart32 No all good, It can’t be gobbled up at these prices in my opinion, there only so many people willing to pay 40k for a Honda accord if you get what i mean. 40 year mortgage would be the worst thing they can do IMO, if they do that then yes, hell might break lose again. Noone knows what they have planned, I just look at things from a logical perspective and from what history has shown us. Ill buy a house today if the right one at the right price came along, idc because im holding all long term. It’ll all be intresting to see how it unfolds. I appreciate your insight though. I spoke about the 40 year mortgage in my last video, god i hope they dont make that a reality.

lol don’t be greedy, 20% is more than enough for a correction in our market. That would allow people to buy a nice 3-4 bedroom home in a great area. I think 15-20% from our all time highs is very realistic, more than that I think will be tough due to Charlotte being a great market that’s been in demand for 10 years now. No one knows, just look at the data and make the best decision for yourself, as always!

Dramatic much?

I don’t think we’ll get to that level of extreme correction, the powers at be just won’t allow it. Just my opinion, but I have heard some really smart people that have been around the block say similar things as you did. We can’t control anything, all we can do is roll with punches and do our best!

@@SasaMLivinginCharlotteNC I was being a bit hyperbolic but in 2008-2009 as you already know that we did not have all the other issues running concurrently like inflation/dollar devaluation and just the social climate that currently exists in our country! It will be interesting to see how things will progress!

Elaborate.

@SilverCpa when I drive around Ballantyne, I feel like I'm in Beverly Hills, $100-250k cars everywhere.

@@kellis773 while I agree, doesn't seem like evidence south Charlotte are stretching it. Could just be super rich

@SilverCpa I don't live in Ballantyne, I have a small investment company there. I live in Chicag, although I travel down to Ballantyne 6-7 times a year. I'm just amazed at all expensive cars. I've seen that area grow exponentially over the last 10 years.

@@kellis773 it's definitely a flashy area. Ballantyne and South Park are places where people want to signal anyway possible that they have money. Probably half of them are broke to be fair. You can make 700k a year but if you spend it lit all you ain't rich.

Definitely! I made a video about the changes in Ballantyne on my channel. Check it out!

Good question

Are we sure all realtors are convinced that’s it’s not 2022 anymore??

@@toddholland5612 hahaha. No. Definitely think there are a lot of them that are still in lala land

@@sirloin869 Yea, it’s not looking to good for a lot of buildings in FL

It’s tough, you might be able to find something in the Gastonia area for a single family home. A lot of neighborhoods there are going through a transition. If you open to a condo you’ll definitely have some more options in regard to better areas. The only hiccup with condos is finding a low HOA. But they are out there!

I pray we don’t come to a 40 year mortgage.

There’s some deals out there, I do think we have to correct at some point and there will be more!

Correct, that’s open to the public.

@@rayb1613 Glad you found it helpful! Thanks for watching.