The current real estate market presents challenges: high mortgage rates, record-breaking home prices, low inventory and slower sales. Yet, history and market dynamics reveal that these conditions also create opportunities for wealth building—opportunities that renters and homeowners alike should consider leveraging now. The Wealth Gap…
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Why Now is the Time to Build Wealth Through Real Estate.
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A Brief History of Mortgage Payments
When the average sales price of a single family home in Mecklenburg County is combined with the current interest rate for a 30 year mortgage, the result is a house payment of $3211 for principal and interest, then add tax and insurance. It could be…
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Federal Funds Rate Reduced – What’s Next?
On Wednesday, September 18 the Federal Reserve cut the Federal Funds rate by 50 basis points. This was the first cut in over four years. It was expected that the rate would be cut between 25 to 50 points, so it was already priced in…
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Prices Peaked and Rates are Down!
Its looking like a good time to make a move if you are a buyer in the Charlotte market. In Mecklenburg County prices for single family homes have peaked for 2024 and will most like start a slow decline into the fall and winter, as…
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Summer Sales Price Reaches New Record
The higher mortgage interest rates now hovering near 7% seem to have stabilized some over the past year and appear to be defining a new normal. Stats such as pending sales, inventory, and interest rates remain mostly unchanged from a year ago in the Charlotte…
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Charlotte Real Estate Prices Double in Just Over Five Years
The average price for a single family home in Mecklenburg County just hit another all time high of $676,888 in May this year, according to the Canopy MLS. It was only January of 2019 when that same stat was $325,816 which means that in just…
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Spring Charlotte Market Update
Photo by Yoksel Zok on Unsplash
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Why 10x is Easier Than 2x
This quarter, in our W Book Club, our team is reading,10x is easier than 2x: How World-Class Entrepreneurs Achieve More By Doing Less, written by Daniel Sullivan and Dr. Benjamin Hardy. We are used to hearing that if we want to double our results, we need…
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Thoughts on NAR Settlement In the News
I’ve received many questions about the NAR Settlement that’s been in the news these past few days and I’d like to share some of my thoughts. For context, I think it’s important that you know I was a homeowner and a real estate investor before…
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Leap And The Net Will Appear
If you’re like my team and me, your days and evenings are a balancing act between work and personal activities for you and your family members. While each activity is worthwhile, it can be tough to juggle all of them. If we’re not careful, we end up running…
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Welcome to the 2024 Real Estate Market
It’s a new year and the outlook for real estate in 2024 is up for grabs! The experts I follow are all suggesting that interest rates, which have considerably slowed sales over the past 18 months, will fall this year and drop below 6% by…
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You Are Glad You Own Real Estate
Lots of mixed messages about real estate and the real estate market this year. Let’s be sure not to confuse the two. There’s been a lot of turmoil in the market this year with low inventory, rising prices, and high interest rates. These factors have…
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Unexpected Friends
Thanksgiving is a time to express gratitude toward family, colleagues, and friends. It is a time to let those around me know how much I appreciate them. At first glance, this may seem to apply just to those in my immediate sphere, but digging a…
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Price Distribution Shift – Are Prices Up or Down?
An interesting thing has appeared in the market stats for single family home sales in Mecklenburg County. In September, the median sales price fell (-2%) from the same month a year ago for the first time since January of 2019. However, the average sales price…
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Our Core Value Compass
As many of you know, our office building experienced a fire within the last couple of weeks. In case you are hearing this for the first time, no one was inside at the time, and no one was hurt. There was extensive damage to the property, and we will be sorting…
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Beware of Misleading Real Estate Price Headlines
In the Charlotte, North Carolina market, the average sales price for a single family home has fallen slightly from last month. However, that same metric is up over 7% from last year. Now that’s more like it. When we look at home prices and trends,…
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Celebrating 20 Years of Helping People Make Smart Decisions in Real Estate
This month, we celebrate W Realty Group’s 20th anniversary! Scott, the team and I have been reflecting quite a bit recently on our journey with real estate over these years. We recognize that only some of you may remember that Scott and I purchased our…
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New Record Price Highs Reached in Charlotte
Single family home sales in Mecklenburg County have been slowing for almost two years now. The number of sales this past May was 15% lower than the same month in 2022. Don’t that let confuse you about the state of home prices and real estate…
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The Perspective of Time
After twenty years of working in the real estate business, I still haven’t seen it all. The current market is like no other that has come before, at least in my time. Home prices are at an all time high, but the number of monthly…
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Inflation Rate Falling & Pace of Home Sales Improves
According to the US Bureau of Labor Statistics, the Consumer Price Index (commonly known as the inflation rate) has fallen to 5.0% as of March 2023. It rose to a peak of 9.1% in June of 2022, having a deep impact on the pace of…
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