Over half of 2010 home sales were troubled mortgages?
Charlotte, NC Real Estate - WOW! If you read the headlines of our local newspaper recently, then you saw this on the front page. The newspaper says they got their information from an analysis of government property data. I'm guessing this would be the tax records and court filings? And to say "the public has no idea how bad the real estate market is'? As my grandma would say, "hogwash!" Oh well, not knocking the paper, after all their job is to sell newspapers and bad news sells papers! The facts are, yes the real estate market has been hit hard by this economy. But it's not doomsday like they want you to believe. I have no idea where they got their data, but I get my data from our Charlotte Regional Realtors Association's Multiple Listing Service of which I am a member. Our MLS data says there were 22,394 single family homes (including townhomes and condominiums) that sold in our market area in 2010. Break that down and that's an average of 1866 homes per month or 62 homes sold per day! That doesn't seem like doomsday to me! Now, I'm not going to sit here and sugar coat the fact the real estate market has taken a huge hit. But facts are, homes are still selling! Is it a great time to sell a home? It depends. If you are just selling a home, the answer is no. If you are selling and buying another, the answer is yes, it's a great time! Ok, so your house is worth less than it was a few years ago. But the same thing applies to the house you are buying! With a really good Realtor, you can fetch as much as possible in this market for your home, and in turn "steal" one of these foreclosures, and come out smelling like a rose! What a concept!