We paid $300,000 for our Charlotte Home, plus we put in $50,000 worth of upgrades. We need at least $350,000 plus closing costs if we’re going to sell.
Carolina Living Agent: “Mr. and Mrs. Seller, the real estate market is like the stock market. For example, if you purchased stock at $100 per share three years ago and today it is selling at $50 per share, you wouldn’t be able to sell your stock in this market.
“The same is true in our current Charlotte area real estate market. Homes with amenities similar to yours are currently selling between $280,000 and $300,000. Consequently, you have two options: You can price your property where it will sell in this market or you can wait until the real estate market improves. It’s your choice — what would you like to do?”
.Most people understand that stock market prices change. A stock that has a high value now may plummet in price at a future date.
What many don’t realize is that the real estate market is subject to similar fluctuations in price. More importantly, as in the stock market, it is the buyers, not the agents or the sellers, who determine the ultimate price.
You see, sellers in the Charlotte and Lake Norman area have been spoiled in the past with the rapid increase in property values. However, prices have leveled off and dropped in many of our neighborhoods.
Your Carolina Living agent can help you with pricing and understanding fully where prices are in your neighborhood.
