How are you planning to purchase Charlotte NC real estate?
Cash Buyers have been dominating the Charlotte NC real estate market for the past two years. Wise investors (just as Warren Buffett advised doing) have been increasing their inventory by leaps and bounds and smart individual home buyers are doing the same. Not just with cash but, with the use of conventional, FHA, VA loans and 203K loans.
During the past 90 days, cash buyers accounted for 32% of the home buyers in Charlotte NC. Of the 5,506 cash buyers over the past 90 days, 76 of them have purchased properties over $1,000,000. The highest cash sale during this 90-day period was $4,800,000.
Below is the Charlotte home buyer financing data for the most recent 90-day period ending 5/20/2012:
Compare the above current data to that from the same 90-day period in 2007 below:
If you are a Charlotte home buyer who is considering financing, be aware that you just may very well be competing with a cash Offer. Therefore, it is in your best interest to not only obtain lending pre-APPROVAL but, put your best foot forward when you do make an Offer (we can no longer recommend low ball Offers). Be sure to include your pre-approval letter from a reputable lender. That makes a world of difference to sellers when they are considering multiple Offers.
If you are ready to find the perfect Charlotte neighborhood and home for sale, contact a Charlotte real estate agent. I’d love the opportunity to help. Phone me today at (704) 491-3310, or email me at Broker@TheCharlotteScoop.com to schedule an appointment.