Homes in Charlotte continue to sell and the climate is a huge factor. February is the time of year when the largest contrast is noted. The northeastern US is in the middle of winter and Charlotte is into spring. Charlotte real estate is in full bloom with trees flowering and flowers blooming. The contrast is so stark that it is hard to imagine that we are only a few hundred miles south.
The best deals continue to be builder inventory but the deals are about to end. In the Charlotte Real Estate market, this is the time of year that builders would be going full steam ahead. The objective was to have as many inventory homes completed in spring as possible. Reason?
Many people relocating to Charlotte wanted new homes but did not have 4 months to wait for a new home to be built. Builders would have an inventory of new Charlotte homes prepared for those buyers. Due to the past several months of buyers financing difficulties, the builders are not building "spec homes". The only Charlotte Homes available for "quick move in" will be on homes where financing falls through.
What does this mean for you? There are still some great deals available to the person with good credit. I received a call from Wachovia this week stating they do have a loan program for 100% financing with a credit score of 620. This is one of the few programs still remaining with this credit score. "IF" you fit this criteria and are assured you can make your payments, then I would recommend that you do not purchase a "to be built" home expecting this program to last.
The cause of the crisis was the government loosening up on the financial criteria for a loan. The pendulum will swing back to a more stable area. I do not suspect the home buying criteria to be as stringent as back in the 90's but is will settle somewhere in between.
Ultimately, Charlotte is still a great place to own a home and a great place live. Visit Charlotte Homes For Sale for more in depth analysis of the greater Charlotte region including Ballantyne Homes for Sale, Fort Mill Real Estate, Matthews Homes for Sale, Tega Cay Homes for Sale to Kannapolis Real Estate.
