Wachovia, The Market, and Charlotte Real Estate
October 7th, 2008 Categories: Real Estate News
Wells Fargo or Citibank? Charlotte waits and wonders…
Charlotte NCÂ It’s pretty clear, Charlotte favors the Wells Fargo buy out plan, a better business fit and more likely to keep jobs in Charlotte… with a recognizable bank too. Now we need the FDIC to weigh in. Ok, ok, so maybe Wells Fargo isn’t Batman….
A deal later today may be announced– memo to regulators, thank Citi for their time, get the Fed money off the hook and let Wells Fargo be Wells Fargo, a surprisingly well funded and well run commercial bank.
Lets go FDIC, Wells Fargo is clearly the superior choice.
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We closed the cash sale from last week yesterday- the client I wrote about last week, this client had moved their money out of The Market, were considering an 2nd home for her Mom, and facing large balances in under insured money market accounts, decided it was safer to buy a quality Lake Norman waterfront condo at a discount… safer then leaving it in the bank. With the state of the financial markets, lets hope others decide to do the same.
Cash is king- there is no doubt that the cash offer and quick close realized another 2-3% in price decrease for my buyers.
And Why are Investors and Home Buyers Still Buying Charlotte Real Estate? Glad you asked, keep on reading!
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The Standard and Poor’s Case-Shiller Report (20 major market home appreciation/depreciation report) was issued last week for the month of August, and once again Charlotte led the
nation with the least amount of home price decrease in the 20 major markets studied at 1.8%. I can’t recall quite how many months in a row this is… I think 9 consecutive months, but I do know Charlotte led the nation in 2007, and the first 2 quarters of 2008, and there are communities in Charlotte where prices are going up. That’s right, there are still upwardly mobile homes prices in Charlotte NC…. makes you want to hit a few golf balls, no?
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Because we can’t be doom and gloom all the time, our hats are off to the Carolina Panthers and their 4-1 start. They are playing well, the offense is clicking, and the defense has been superb- only occasionally do the coaches call pure cowardly offensive calls, I’m liking their prospects.
I also had the misfortune of traveling to Charlottesville Virgina to see the University of Maryland fall flat on their face and get pounded by a confident Cavalier team. Truly Maryland was pathetic, just aboput the most unprepared I’ve ever seen a team.
But the drive was extraordinary and the top was down most of the way!
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Moving to Charlotte?
Have Questions? I am a Charlotte broker specializing in relocations, 2nd homes–buying and selling real estate of all kinds- and will represent only you. We work with Buyers and Sellers every day. You can quickly compare area prices with the map-based Charlotte home search below. Another good place to start is my fact-filled and well received Introduction to Charlotte Video (nearly 8000 You Tube views, 22 reviews) and don’t miss the FAQ videos in the right column (just under the Introduction to Charlotte Video Screen)
If it’s between the hours of 8 AM to 8 PM, EDT, please don’ t hesitate to call me direct at 704-351-1519. Terry
Economic Winners In The Down Times: Bank Of America, Charlotte NC and Charlotte Real Estate Charlotte Real Estate- 2008 and Beyond, More Good Years Ahead
Safe to Buy in Charlotte? You Bet…
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