State of Our Real Estate Market by Matt Lunsford:

Currently we are seeing more homes in our Charlotte Market Inventory and they are experiencing an increase in days on market. This is due in part to what I call "aspirational pricing" - Buyers in this market are very sensitive to overpaying at this juncture. They are absolutely exhausted from the bidding wars of days past and they are simply demanding a fair deal. If a seller overpriced their home with aspirations of have some negotiating room or getting more than the house is worth, Buyers see this number sticking out like a sore thumb from a mile away. In most cases this listing will get few to no showings and certainly no offers. Buyers are educated in this market and will gravitate towards the homes that are in great condition and fairly priced. That being said, it's super important to have your home strategically priced as opposed to overpriced so make sure your seek a professional to help you here. It's by far the most important step in the marketing process right now. Also, If you are a buyer, it's crucial to realize that you have a lot more negotiating power than you did a year or two ago and this can come in handy when it's time to make an offer. A great real estate broker can spot deals and room for negotiating in homes you may have overlooked. If there’s one thing I’ve learned in real estate, it’s that every situation is special. As always, I will continue to get my seller clients the absolute top dollar for their listings and will strive to get my buyer clients the best deal on the homes they purchase. If you would like an in depth look at a potential sell or purchase, it will only cost you a bit of time. Call me personally: Matt Lunsford, Owner, 1221 Real Estate, LLC. 704-575-4320