Posted by: Roby Robertson | December 22, 2009

Charlotte and Lake Norman Short Sales Plus The 2010 Outlook

According to CNN Money The Housing Outlook for 2010:

The economy will continue to be in a state of flux in 2010 with unemployment and foreclosure rates ultimately determining whether the market improves or continues to struggle, according to Mark Zandi, chief economist of Moody’s Economy.com. In North Carolina, Charlotte, NC is predicted to be among the top 10 metros with the smallest projected decline in median home price, while Greensboro and Raleigh are expected to have a projected decline of 2.8 percent and 4.8 percent, respectively.

At the top of Zandi’s list of worries are foreclosures — specifically, the millions of loans that are in foreclosure or headed there that can’t or won’t be modified. According to RealtyTrac, nearly 2 million housing units in the U.S. are in foreclosure or bank-owned, and millions more are likely to join them.

Charlotte Foreclosures and Short Sales

Currently 934 properties are showing up as being in a state of short sale or foreclosure.  The search is a little flawed because to get all the listings we have to do a string search for certain words or phrases.  Some agents will put in the remarks ‘Better than a short sale’ which will be picked up in the results.  However, you can see that there a lot of opportunities out there in the Charlotte area.  Note:  This number does not include vacant lots, condo’s or townhouses.

The home prices are listed as low as $18,000 up to 2,1 million. The average price for homes in this category is $220,000.

Lake Norman Foreclosures and Short Sales

In the Lake Wylie, Mountain Island Lake and Lake Norman areas, 100 homes come up in this category.

The average sales price of these homes is: $458,115.
The High price is $1,395,000 and the low price is $79,000.

Of these homes 25 are waterfront homes with an average price of $648,444.
23 of these homes have their own dock or come with a deeded boat slip.
Lake Norman Short Sales make up 21 of these 25 waterfront homes.

Check out Lake Norman Communities for additional listings and information about some of our  best Lake Norman area communities.

Finding your Charlotte or Lake Norman Short Sale

Contact your local Charlotte and Lake Norman area agent or call 704 451 7051 for a personalized list sent directly to your email.

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