Everyone wants a deal when buying a new home. The odds are the prices are going up based on the upcoming elections! Charlotte Real Estate, as with the national real estate market, is hurting because many home buyers are placing their new home purchase on hold but very interested in discounted homes combined with historically low interest rates.
When is the Real Estate at the "bottom" and how do you know? Consumer confidence dictates much of the economy. The Government is making the majority of consumers nervous due to their spending habits. This is not a political statement; it is strictly numbers. You can not keep spending what you don't have.
Watch what happens after the election. IF this election follows history (poor economy results in incumbents losing their seats) then the election will change the temperament of our nation and many will take advantage of the renewed confidence in the economy. As a Realtor, I live in the real world and this is what I foresee occurring. As the economy begins moving, demand increases and prices follow. Based on this "reasonable" assessment, the time to buy is now. As the economy begins to stumble forward, rates will begin to rise and Charlotte Homes will attain a new level of normal. No, I do not expect it to return to the sub-prime lending levels but the housing market will rebound. Charlotte Real Estate is still very popular throughout the nation. The northeast is about to embrace for another winter. It's time to buy!
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