Your Charlotte Real Estate Blog 

Nov. 21, 2021

Home Prices are Going Crazy! Is this a Fluke?

What’s Happening with Charlotte Area Home Prices?

What’s Happening with Home Prices? | MyKCM

It's no wonder many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? WE are fielding these questions every day. The market is trending crazy good for home sellers, and tough on home buyers. Here’s a look at the answers to three of the most popular questions we get.

How much have home values appreciated over the last 12 months?

According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):What’s Happening with Home Prices? | MyKCMThe increase in the rate of appreciation that’s shown by CoreLogic coincides with data from the other two main home price indices: the FHFA Home Price Index and the S&P Case Shiller Index.

The last year has shown tremendous home price appreciation, which is resulting in a major gain in wealth for homeowners through rising equity.

What’s happening with home prices right now?

All three indices mentioned above also show that while appreciation is in the high double digits right now, that price acceleration is beginning to level off (see graph below):What’s Happening with Home Prices? | MyKCMYear-over-year appreciation is still close to 20%, but it’s clearly plateauing at that rate. Many experts believe it will drop below 15% by the end of the year.

Keep in mind, that doesn’t mean home values will depreciate. It means the rate of appreciation will slow, yet stay well above the 25-year average of 5.1%.

What about next year?

The recent surge in prices is the result of heavy buyer demand and a shortage of homes available for sale. Most experts believe that as more housing inventory comes to market (both new construction and existing homes), the supply and demand for housing will come more into balance. That balance will bring a lower rate of appreciation in 2022. Here’s a look at home price forecasts from six major entities, and they all project future appreciation:

  1. Fannie Mae
  2. Freddie Mac
  3. Mortgage Bankers Association
  4. Home Price Expectation Survey
  5. Zelman & Associates
  6. National Association of Realtors

What’s Happening with Home Prices? | MyKCMWhile the projected rate of appreciation varies among the experts, due to things like supply chain challenges, virus variants, and more, it’s clear that home values will continue to appreciate next year.

Bottom Line

There have been historic levels of home price appreciation over the last year. That pace will slow as we finish 2021 and enter into 2022. Prices will still rise in value, just at a much more moderate pace, which is good news for the housing market.

Posted in Market Updates
Feb. 16, 2021

6 Home Buyer Tips on Winning a Bidding War

Charlotte’s real estate market has gone crazy with lots of buyers and no sellers!

Bidding Wars are taking place on over 65% of homes listed for sale.

If you are a seller, your fear will be that in just one day, you could feel as though you rendered yourself homeless!

Suffice it to say, you’ll likely be a buyer, too. We can help you buy first and sell later.

As for you home buyers, at first, you will go gingerly into the process of bidding at the list price. That seems more than fair. Once you lose that house, you’ll find another one that “just listed” and you’ll run over there, love the house, and this time you may go a few thousand dollars over the list price. You lose again. That seems absurd.

Unfortunately, you may do this another four, five or six times. When you finally win the home of your dreams, you’ll be emotionally exhausted, and at the same time, jumping for joy.

How did you finally win that bid? First and foremost, you got tired of losing bids, and started to take your Realtor’s advice (and this seller’s market) seriously.

Tip #1: The first of the 6 Tips to succeed in winning the bid, will be to work with a Realtor that you trust and therefore you take their advice. They should be well-versed in each of the areas mentioned below and can explain them to you in more detail.

 Tip #2.  Lending - Have a mortgage lender’s letter that says you are qualified to purchase X amount. Not a pre-qualification letter. Your competition may be showing up with a cash offer - those are tough to beat - but not impossible.

 The Loan Qualification Letter means that your lender has requested a ton of paperwork to prove your income; gathered your tax returns; dug into your debt and literally qualified you for the loan.

 The Pre-Qualification Letter is a phone call or an online application. Here, the lender has asked you for your social security number; looked at your debt-to-income ratios; and submitted your information for a credit rating.

 As a Cash Buyer, you must have a “Proof of Funds” letter in hand, so the seller and their real estate agent know you have the goods to close the deal.

Tip #3Increase your Due Diligence Fee - The North Carolina contract has a Due Diligence period. During the Due Diligence period, you (the home buyer) can decide to walk from the contract.


The Due Diligence Period is secured with a Due Diligence fee, which the seller will keep if you terminate your contract prior to the end of the Due Diligence Period.

Make your offer more attractive by increasing the DD fee. The expectation is that if you make your due diligence fee super high - you won’t walk from the contract. And, if you do, you will lose thousands on your exit.

Prior to the end of your due diligence period, you’ll want to get all your home inspections, appraisals, title work, and any other thing you desire, completed to your satisfaction. 

Tip #4.
Timing - You’ll have to stack the Offer in favor of the home seller. This means working on a timeline that suits their needs. Timing includes tightening up the Due Diligence Period and being flexible with the closing date per the seller’s needs.

 Tip #5. Limit Contract Contingencies - Contingencies include lending; inspections; home appraisals; and requests like home warranties and home appliances.

You can still get your home inspected and appraised, just don’t expect the seller to fix anything or work with you on a low-ball appraisal. Some will, some won’t.

The due diligence clause allows you to exit the contract for any reason at all - prior to 5 PM on the agreed upon date. When you tour the home, take a close look inside and out, and read the Residential Disclosures. Ask Questions.

 Tip #6: No Dawdling- Using today’s technology, your Realtor can work quickly, providing you with a comparative market analysis, putting the offer together and using electronic signatures so you can get your bid in quickly.

 The Charlotte area market has been steadily moving forward with less than two months of inventory, indicating that the seller’s market should be here for a good while longer so there’s no use in putting this off.

 Take advantage of today’s all-time low interest rates, have fun competing and when you win the bid, jump for joy.

 It’s a big deal!


July 12, 2018

Down Payment Programs for Millennial Home Buyers with Student Debt

Down Payment Programs for Millennial Home Buyers with Student Loan DebtMillennials are still struggling to become homeowners, and one of the biggest reasons is their student loan debt. According to the National Association of REALTORS, a whopping 80 percent of millennials don’t own a home! Millennials are expected to delay home buying for an average of 7 years due to their staggering student debt. Read this article to learn about down payment programs for millennial home buyers with student debt! You may be able to get your dream home sooner than you think!

National Homebuyers Fund

For potential buyers having trouble saving up for a large enough down payment there are assistance programs and grants available to help. The National Homebuyers Fund (NHF) has down payment assistance programs in many states. They offer down payment grants or closing assistance for up to 5 percent of the loan amount on a home for sale in Providence.

Companies Offering Home Buyer Assistance Programs

More companies are now offering homebuyer assistance programs as well. They recognize the student loan debt challenge with millennial buyers and seek to help these buyers overcome this hurdle. However, it is recommended that buyers seek the advice of a financial expert before participating in one of these programs to purchase a house for sale in Concord.

Home Builders

Are you thinking about a new house for sale in Charlotte? There are builders out there who have programs available to help with the reduction of student loan debt. For instance, through these programs, you are allowed to redirect a specific percentage of the purchase price of a Waxhaw home for sale to student loan payoff.

Again, make sure to consult a financial professional before choosing any of these programs. It’s important to make sure that it works for your specific situation. Have you used down payment programs when purchasing your Charlotte home? Please share your experience!

June 29, 2018

How to Pick the Target Buyer for Your Home Staging Project

How To Pick the Target Buyer for Your Home Staging Project

You’re getting ready to sell your house for sale in Matthews and staging is the next big step. There are so many choices and you wonder who you should appeal to the most. Read this article to learn how to pick the target buyer for your home staging project so that the money you put into staging results in the fastest and highest bid!

Why You Should Have a Target Buyer in Mind

A home stager must have a target buyer in the forefront of their mind so that their work is effective. Without a particular buyer in mind, you end up trying to appeal to “everyone,” which can result in a bland and boring property. Home staging is all about getting potential buyers excited about your Waxhaw home for sale!

Consider the Neighborhood and Property Traits

One of the basic exercises you can do to determine your target buyer is to consider your neighborhood and particular property traits. For instance, ask questions such as: Who lives in my neighborhood? Young couples? Young singles? Retired couples?

Additionally, you should consider whether your NoDa house for sale is near conveniences such  as public transit, parks and bike paths. Is your house more of an adult home with modern open staircases or is it family-friendly with amenities such as a possible playroom? Is your street busy or is it on a quiet cul-de-sac?

All of these considerations will help you find your target buyer, their stage of life and demographics. Then, you stage toward these details.

Make an Emotional Connection

Finally, make sure to make an emotional connection through your staging of a home for sale in Southpark. House hunting is heavily influenced by emotions so think about special touches you can incorporate into your staging to make your house super cozy and appealing to your target buyer.

Do you have more tips on how to pick the target buyer for a home staging project? We would love to hear your thoughts!

June 12, 2018

Should You Bring Your Kids to an Open House?

Should You Bring Your Kids to an Open House in Charlotte?Many buyers wonder if they should include their kids in the house hunting adventure. After all, they will be living there too and why not have everyone’s opinion? There are pros and some fairly hefty cons to bringing your kids along. In the end, you know your family best, but consider these tips before making your final decision. Read this article to decide if you should bring your kids to an open house for a Providence home for sale.

Kids May Mean Too Much Distraction

Unless you have perfect angels as kids, you can bet that there will be some distraction if you bring your little ones to an open house. In general, one parent is in charge of keeping the kids in line, which means they don’t get the chance to fully view a house for sale in Ballantyne.

If you are a couple, you want to make certain that both people are fully involved to make the best decision possible about a specific property. The general rule is, bringing kids to the first showing may be too distracting. If you absolutely have to, consider asking your agent to view the property alone afterward.

You Get the Final Say

It’s very gracious to allow your children to voice their opinion when it comes to where they live. However, ultimately, you get the final say! You will be the one paying the mortgage and maintaining the property as a responsible homeowner.

If possible, you may want to wait until the home inspection to let your kids view the property. Sometimes more opinions early on can make the decision-making process more complicated.

For the Exceptionally Well-Behaved

Sometimes there are buyers with exceptionally well-behaved children. In these cases, your children may even help you make the decision and perhaps even facilitate a sale. Some kids are polite and social and this can go a long way when trying to win a bid on a Lake Norman home for sale.

What do you think about bringing your kids to an open house? Would you do it? Why or why not?

Posted in Home Buying Tips
June 11, 2018

Housing Market Changes to Come in 2019

Housing Market Changes to Come in 2019As demand in the housing market is continues to rise in 2018, many are wondering when the environment will level out. Housing prices are soaring and in many respects, it is a seller’s market. According to analysts at Freddie Mac, these conditions are set to change starting in 2019. Read this article to details on housing market changes to come in 2019 and what to expect when you are buying or selling a Southpark home for sale.

The Projected Stats This Year and Next Year

The 2018 housing market is set to turn out similarly to recent years, according to Freddie Mac. Housing prices are projected to rise a whopping 7 percent, with sales up 3.3 percent.

However, once 2019 hits, it is expected that appreciation may decelerate to around 3.1 percent with a 2.1 percent growth rate.  These projections mean that potential sellers may want to get their Cornelius house for sale on the market before next year!

What May Cause This Change?

Markets change and shift, and it’s important to know the cause so that you can plan ahead. Mortgage rates are one factor that will cause this market shift. Today, the average 30-year fixed rate is 4.66 percent.

By the end of this year, the average is projected to hit 4.9 percent. By the close of 2019. the average rate could be as high as 5.4 percent. This climb in rates is expected to soften the market a bit.

What to Expect

Despite the increase in costs, demand is expected to remain strong. As long as consumers are confident in the economy as a whole, they will still want to spend money on housing. In fact, according to Freddie Mac, the economy is expected to grow 2.7 percent and employment stats are positive this year.

What do you think of these 2019 market projections? We would love to hear your thoughts about buying or selling a Charlotte luxury house for sale!

May 29, 2018

New On-Demand Consumers and the Real Estate Market

New On-Demand Consumers and the Real Estate MarketNew On-Demand Consumers and the Real Estate Market

Over the past decade, the real estate industry has continued to grow, along with the consumer’s demand for an all-inclusive tech experience. Nearly everything is done online, and house hunting for the perfect Dilworth home for sale is no different. The consumer simply wants to have more control over the process. Read this article to learn about these new on-demand consumers and how they have changed the real estate market.

Changes for the Home Buyer

If you are searching for your dream house for sale in Waxhaw, you now have the freedom to browse listings from the comfort of your own home. Not only that, but the increase in technology has made the buyer more knowledgeable and educated concerning real estate trends and the home buying process.

There are even companies that allow buyers to tour homes on their own time without an agent present. For instance, if the potential buyer is interested in touring a home, they simply send a text message to the appropriate party to gain access immediately. However, the question is: Are we prepared to go without the human element for the sake of convenience?

Changes for the Home Seller

Changes for the home seller of a Providence house for sale are similar to the buyer. With technology, there is much more transparency overall, and many sellers can get a feel for what buyers are looking for. Additionally, many sellers have done their homework and often have an idea as to what their house is worth.

As life becomes more on-demand in general, we should be ready for even more changes in the real estate industry including everything from how we communicate to how we show a home to buyers. What do you think is the next big change facing the real estate industry? Please share your thoughts!

May 23, 2018

Why Buying a Home in a Top-Notch School District Is a Good Idea

Why Buying a Home in a Top-Notch School is a Good IdeaEven if you don’t have kids, buying a Weddington home for sale, or other home in an excellent school district will likely benefit you. Sought after school districts simply tend to preserve the value of homes in that area. Not only that, but you will likely find that resale is fast. Read this article to learn about the details on why buying a home in a top-notch school district is a good idea!

Buyers Seeking Strong Public Schools

Many buyers find that the location of their home for sale in Ballantyne is extremely important due to being in a great school district. How can you tell if the home you are interested in has an excellent public school?

Consider the conditions of the facilities, the student-to-teacher ratios, standardized test scores, and most of all, word of mouth. Great schools will naturally have a strong reputation in the community. Ask around and you are sure to get an honest assessment!

Consider All Angles

Buying a Providence house for sale based on the quality of the school district is still a complicated decision. Although some areas may have less than stellar public schools, some families opt for a private school setting instead.

However, private school tuition averages in at approximately $900 per month, which means you may not be able to afford as much house with this additional cost. It’s therefore important to consider all angles and decide what is most important to your family.

For Those Who Don’t Have Kids

Even for buyers who don’t have kids, purchasing in a strong school district will likely present benefits. For instance, homes with excellent schools tend to sell faster and hold their value better through economic downturns.

On the downside, these homes tend to be more expensive with higher property taxes. It really comes down to what is most important to the buyer.

What do you think? Would you buy a home based on the school district? Why or why not?

May 21, 2018

All About the New Tiny Home Sold On Amazon

All About the New Tiny Home Sold On AmazonThere is a slice of the real estate market that is interested in living in tiny homes over traditional houses for sale in Waxhaw. Some buyers do it to simplify their lifestyle and for affordability reasons. Tiny home advocates claim that despite the smaller space, living in a tiny home is more than doable because no square footage is put to waste. Read this article to learn all about the new tiny home sold by Amazon and ready to ship to you!

Houses Online

Amazon is giving house hunting online a whole new definition! The retail giant started in 1994 as an online book retailer. 10 years later they started selling groceries online and everyone thought it was a bit off the wall. However, in homes for sale in University City, their grocery business is definitely popular.

A new company called MODS International has started selling livable shipping containers that are sold on Amazon!

The Details

These tiny homes include a kitchen, teeny tiny living area, bathroom, and a bedroom that can sleep to four with bunk beds. They are customizable so that you can add more windows, double doors, and other options to make the most of the space.

MODS are built to code and the plumbing and electricity can even be adjusted to local building codes. They are apparently easy to set up, and are delivered on a flat bed truck.

The Cost

These tiny homes currently cost $36,000 plus $4,000 in shipping and handling. This is approximately 20% the price of the average Charlotte home. However, it should be noted that there aren’t many reviews on these yet, and so far, they have an average of 2.5 stars.

What do you think of these tiny homes? Would you buy one over a Ballantyne home for sale? Why or why not? Please share your thoughts!

May 16, 2018

Tips To Get Your Teen to Clean Their Room for House Showings

Tips To Get Your Teen to Clean Their Room for House ShowingsEvery parent knows that inspiring teens to do anything you want them to do can seem impossible. This is especially true when it comes to keeping your house for sale in Southpark neat and tidy for upcoming home showings. As a seller, you have plenty of other business to attend to. Read this article for tips to get your teen to clean their room for house showings so that you have one less item to check off your list!

Offer an Incentive

Many teens are inspired by incentives, and especially cash incentives! The key is to establish a set allowance and a list of exactly what needs to be cleaned in a Providence home for sale to get that allowance. Clear expectations, communication and consistency are key for this to work.

If offering cash isn’t possible right now, choose a different incentive. For example, let them do an activity with friends they have been begging to do if they hold up their end of the deal. Remember to reward your teen when they least expect it as well. Words of affirmation do wonders in boosting morale.

Give Them a Room They Are Proud Of

When teens have a space they are in love with, they are much more likely to take care of it. For instance, let them choose the color scheme, furnishings and accessories as much as possible. Brainstorm with them to find ways of showcasing their most prized possessions.

Giving them freedom over their own space in a house for sale in Waxhaw will likely help inspire them to maintain it and keep it clean.


Lastly, if you find that your teen is constantly distracted with devices and never gets to daily chores, it’s time for consequences. It could be anything from taking away their devices entirely to resetting the Wi-Fi password until chores are complete.

Do you have any other ideas on how to get your teen to clean their room for house showings? Please share what works for you!