Charlotte NC| A Tale of Two Home Buying Decisions, Negotiations and Great Deals
June 24th, 2008 Categories: Buy A Charlotte Home, Union County
One New Home Purchase, One Re-Sale Home Buyer, 2 Deals, Same Great Results
This past week before leaving for my son’s wedding in Annapolis was a busy one… first, a home buyer I’ve been working with since November reached a decision and we concluded negotiations on a $1.4 M home in Providence Downs South, and while those negotiations were ongoing, I was out with another set of buyers from my old neighborhood, Rockville MD, and on Monday we reached a conclusion on a new home at John Wieland’s Brookhaven in Weddington. Two great homes and two great deals. And congratulations to the Kaminsky-Sawyers on their closing the same week.
3rd Time’s a Charm
I first met my client from Seattle in November of last year. He and his wife had decided to leave the Pacific northwest (”The most beautiful spot in the world on the 30 non-raining days a year”) this client is blessed with a portable job- he needs to be near a quality airport- and after investigating the schools decided on a South Charlotte- close in Union County location. Moving from the Seattle area to Charlotte purely by choice, they with their 2 young children, came for the temperate climate, the can do spirit of the city, and they had visited and liked the city. Charlotte was a compromise between Texas and Ohio, with the edge going to the wife’s relatives in Ohio.
We first made a run at a home in Waxhaw in the spring, that was foreclosing. it was a short sale offer that basically went
no where. Whether the lender didn’t want to give up any rights, or we just didn’t offer enough, we’ll never know. They were just opaque.
Next we made an offer on a builders own personal residence in Skyecroft, subject to us getting plans of our liking for a pool and pool house. In the end, though it was a great family home, we passed on that.
Next came several possibles in Providence Downs South, and one in Highgate. For the first time, we found 2 possibly 3 homes she thought she could be really happy in. One was an almost over the top $2 M home, offered at $1.8 and possibly available as low as 1.575M– the deal was sweet, and it had everything she had been dreaming of, but…
She also liked another home, built by a favorite builder, built in a very family friendly way, with all the features she needed, many of what she wanted, and most of all a terrific yard for her energetic kids. Asking price was $1.499, it had been $1.599 a month earlier.
Now the negotiations began–after a week-end of going back and forth, we settled at $1.4M. The 1.4 is 93% of 1.5, 87% of the original aksing of 1.6M My other client, looking at great homes in the 5-700K range, saw the whole negotiation unfold, and was hoping for a similar deal. We got about the same percentage wise, but more on that in my next post.
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It is a strong buyers market here in the greater Charlotte area. Thinking about moving to Weddington, Charlotte, or Lake Norman? Waxhaw? You can quickly compare area prices with the links below, or just give me, Terry, a call at 704-351-1519. I am a Buyer’s Agent specializing in relocations–and will represent only you. You can also search the entire MLS, by area with the first link below. Click on the pics below for photo galleries of each community
Related Links
Home Prices Rise in South Charlotte in First Quarter of 2008
Southpark Charlotte Homes for Sale- Foxcroft, Morrocroft, Barclay Downs
PDS …. Skyecroft …. Highgate
Terry,
You are exactly right, it is a buyers market and people are slowly figuring that out. Things are selling but mostly it is good quality homes that are priced right.
Great blog by the way! Love the Introduction to Charlotte Video.
Riley
I think it the homes of the very best quality… we turned down several excellent homes that in normal time would not have been there, but today they were just “above-average.”