When the times get tough, the tough get going.

The thing about tough times, though, is that often they force us to adapt to new realities. The Charlotte real estate market provides many examples of that, such as greater access to information for the consumer via the Internet. Perhaps even more significant, innovations in the way real estate is bought and sold have further empowered home buyers with the option of an exclusive buyers agent, so buyers can avoid the potential conflict of interest that can arise from dual agency.

But what about those who don’t want to “get going” with all these new-fangled aids that put the buyer in the driver’s seat? You know, the ones who still want to cling to the good old days and their bad old ways, when listing agents kept a firm grip on marketing information, and benefited from both sides of the transaction? Well, they can pick up their marbles and go home. At least, they think they can!

Jim Abbott, the President and Managing Broker of the Abbot Realty Group of San Diego, has released a video in which he announces that his firm will no longer allow third party sites such as Trulia, Realtor.com and Zillow to syndicate their listings.

Abbott’s announcement prompted a firm rebuttal from Fred Glick, a real estate broker/owner, and co-inventor of RentScoper.com. Glick counter-punches with his own observations about how listing agents such as Abbott are motivated not by what’s best for the consumer, but by the desire to hold on to their control over information – and more than ever, because knowledge is power in real estate – sidestep the issue of dual agency. Check out the video. What I like is that Glick lets Abbott make his point, to which Glick responds:

Here’s what Glick cautions about dual agency:

“You don’t want to be defended by the same law firm who’s prosecuting you if God forbid something happens, correct? Well, you don’t want the same real estate company representing the seller and the buyer, do you? … There are five states that have banned this practice. And I hope the other 45 will do the same. Some real estate agents like this because they make more money.”

Could that be the reason listing agents want to deny buyers the opportunity to deal with a buyer’s agent? And consider Glick’s observation that listing agents who want to restrict access to marketing information are fighting not just a losing battle, but a battle that the consumer has already won:

“Buyers want information. They’re going to find it. Why not let them do it on the sites that already have the information? Trulia, Zillow, and Realtor.com are the sites they pull up when they search for real estate. So let’s give the consumer what they want. That’s the way to restore consumer trust in real estate agents.”

The bottom line? No one serves the home buyer the way an exclusive buyers agent can. Carolina Buyers Agent is committed to representing the buyer’s best interests at all times. And by not taking listings, the trap of dual agency is avoided – because when even the most well-meaning real estate agent is showing their own company’s listings, the appeal of making money on “both ends” of the transaction can be too hard to resist. It’s just human nature.

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Charlotte NC homes for sale in January for the Charlotte-Gastonia-Rock Hill Metro Area numbered 17,305 as of 1/31/2012. The average sales price for Charlotte real estate was $187,785, or 90.2% of the list price, which is $186 (yes, you read that correctly!) or -.1% lower than the average sales price at the same time last year. The average amount of time on the residential market for Charlotte real estate is 5.16 months, virtually unchanged from 2011. While we would prefer this indicator would decrease, we can at least celebrate the fact that it’s not getting bigger.

Like a beautiful coma patient on a daytime soap opera, the Charlotte real estate market is coming back to life. The big news, of course, is the strong trend showing a reduction in the number of homes for sale. Last year at this time, we had 22,647, so we’re looking at a -23.6% reduction in inventory. That backlog has been one of the biggest concerns for some time, so this significant and ongoing reduction is a very positive sign.

In addition to that welcome news is the gradual stabilization of the average home price, which has been zig-zagging the past few years, but is finally showing less volatility. The decrease of -.1% indicates the return of sanity to the market.

The fact remains that it’s still a buyer’s market out there, making this a great time for investors and first-time buyers.

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Charlotte NC homes for sale in December for the Charlotte-Gastonia-Rock Hill Metro Area numbered 17,581 as of 12/31/2011. The average sales price was $190,564, or 90% of the list price, which is $3,582 or 1.8% lower than the average sales price at the same time last year. The average amount of time on the residential market for Charlotte real estate is 5.06 months.

While these numbers are only incremental improvements in the Charlotte real estate market, the steady (and very encouraging!) decrease in the average time on the market tells me the demand for housing is becoming not just wider, but deeper. As inventory continues to drop, demand for new construction will inevitably follow.

And again, the average sales price continues to dip. Yes, that’s good for new buyers and investors. And it tells us that market corrections are underway – in the long run, that will be good for everyone.

When you factor in the news that employment in the Charlotte region is expected to grow 2 percent this year, faster than the national average, reasons for optimism are growing.

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Things are looking up in Charlotte real estate, but don’t rush in – it’s still a jungle out there!

Here’s why: With the Charlotte, NC economy getting its second wind, and the Charlotte real estate market showing positive signs, many experts, including Donald Trump, are feeling good about the future. Time to charge ahead, and claim the home of your dreams, right?

Yes, but let’s keep it real. There are still a lot of dangers for both the first-time real estate buyer, even for more seasoned investors.

What kinds of dangers? It all comes down to things that aren’t what they appear.

Imagine this: You’re going into court for a trial that could make or break you financially. The jury’s been selected. As everyone in the courtroom murmurs in anticipation, you notice the prosecutor keeps cutting knowing glances at you. At that moment, the judge enters the courtroom, and the gallery hushes as it stands. The trial begins, you see an envelope on your desk. You have no idea where it came from. As the prosecutor begins her case, you open the envelope, and in stunned silence you unfold the note and read its message:

“Your attorney isn’t just working for you. He has also been helping the prosecution develop its case.”

Okay, maybe I’ve been reading too many Michael Connelly legal thrillers. But doesn’t this sound like a scenario you’d like to avoid? And the startling news is that it happens every day in the world of real estate.

How could it happen to a buyer who has their own agent? Especially a buyer who’s done their homework, and already knows a buyer is best served by an exclusive buyers agent. And what about a buyer who has an agreement in hand, signed by their agent, titled “Exclusive Right to Represent Buyer”? Isn’t that the same thing?

Problem is, the North Carolina Real Estate Commission does not support the definition of an exclusive buyer’s agent as established by the National Association of Realtors in 2000. The NC Real Estate Commission still allows NC real estate agents to represent themselves as exclusive buyers agents despite taking listings and representing the seller’s interest when trying to sell you houses listed with their agency.

Okay, so we’ve talked about the problem. What’s the answer? How can you be assured you’re dealing with an agency that complies with the National Association of Realtors’ definition of an exclusive buyers agent?

First, see if your prospective buyer’s agent takes listings. Then check to see if the buyer’s agent who’s claiming to be an exclusive buyers agent is a member of NAEBA, the National Association of Exclusive Buyers Agents. Finally, do your homework, and don’t be afraid to ask questions.

I said Charlotte real estate is still a jungle out there, and it is. But choosing the right guide as you start hunting for homes can make the difference between starting off on an adventure or a big mistake.

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The Charlotte real estate market continues its positive trends.

With cautious optimism, we had noted the gradual but measurable signs of improvement in the Charlotte real estate market in our previous report. But it’s always better to have an outsider verify your judgment. Now there’s additional confirmation from Credit Suisse, the highly respocted Swiss multinational financial services company headquartered in Zurich, and a leading world authority on investment banking. The firm was founded in 1856, and currently operates in more than 50 countries, so it definitely knows what it’s doing!

It’s significant that the Credit Suisse analysis noted the improvement in Charlotte real estate, which it attributed to these factors:

Affordability – There are many great properties at tempting prices, making this a prime time for both first-time buyers and seasoned investors.

Improved traffic – The exceptional affordability of the Charlotte real estate market is luring in buyers looking to act quickly on outstanding deals.

Positive movement in home prices – Downward pressures on home prices continue, with signals of future improvements.

Reduction in inventory – Sellers have been taking homes off the market ahead of the holidays, plus, backlogs in foreclosure processing may be depressing the actual numbers.

Looking at the US market in total, mixed indicators still evidence sound reason for confidence. The Texas market has slowed, but the report shows that the Charlotte real estate market continues to “a bit more life” after layoffs in the banking industry. Charlotte NC enjoys enviable advantages, from world-class transportation facilities, to a gorgeous climate, to a well-educated work force. The news that Chiquita is transferring its world operations here in Charlotte NC confirms that optimism.

The bottom line is that in this exciting but challenging market, you need an exclusive buyers agent, one who knows the market, has experience in making sense of the trends, and who only represents buyers, eliminating the risk of dual agency.

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The number of Charlotte NC homes on the market for October in the Charlotte-Gastonia-Rock Hill Metro Area was 19,584 as of 10/31/2011. The average sales price was $194,837, or 90% of the list price, which is $7,309 or 3.6% lower than the average sales price at the same time last year. The average amount of time on the market for residential listings is 5.16 months.

Again, we’re seeing incremental improvements in the greater Charlotte real estate market. The small but welcome decrease in the average time on the market suggests reasons for optimism. The dip in the average sales price, while not welcome news for sellers, is indeed good for new buyers and investors.

An encouraging (though rough!) Black Friday, as well as strengthening in the national jobs market, also give us reason for continued optimism.

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Hints of positive movement muscled their way into the latest stats on the Charlotte real estate market. The average sales price was $196,686, or 89.4% of the list price, which is $13,571 or 6.45% lower than the average sales price at the same time last year.

The number of Charlotte NC homes on the market for September in the Charlotte-Gastonia-Rock Hill Metro Area was 20,301 as of 9/30/2011. The average amount of time on the market for residential listings is 5.23 months.

To use an over-used phrase, there’s reason for cautious optimism in the latest Charlotte real estate sales figures. The backlog in our inventory has (finally!) decreased by almost 21% from this time last year, which, in a normal market, would lead to higher prices. The number of pending sales has increased by 14%, another positive trend. Despite the decrease in supply, the median home price decreased 4.5% from last year – not a disastrous drop, but still not what we would normally expect.

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It goes by many names: Barrier free living. Accessible living areas. Aging in place. But my favorite is Universal Design. Whatever you want to call it, there’s a significant sea-change taking place in what buyers want and need.

Housing has always had to adjust to changing demographics, but this exciting new trend approaches the historic in its scope and impact. We Baby Boomers, whether we want to admit it or not, are getting on in years. Things we used to do routinely without a second thought aren’t as easy as they used to be, from getting out of bed, to fixing meals, to getting into the car for a drive. As our bodies slow down and become less resilient, however, we still want to maintain our freedom and independence — and most of all, our dignity. We want barrier free living, but don’t want our homes to appear institutional.

That’s where Universal Design comes in. Developed only 25 years ago at North Carolina State University, it is a design philosophy aimed at creating barrier free living that can be enjoyed by all people without modification, regardless of ability.

It’s pleasantly surprising to experience examples of Universal Design. For example, instead of the institutional, ugly grab bars you’d expect to see in a hospital, designers incorporate elegant bars in baths and kitchens that look more like architectural elements than safety features. Wide doorways, step-in showers, and drawers that pull out effortlessly are useful to everyone, no matter their age or degree of ability.

One comment I encountered about an example of Universal Design in new and remodeled Charlotte homes that really struck me came from a young mother who noted that the lever on the front door of a gorgeous home she wanted, though it was designed for older clients using a walker, would come in handy when she came home with her baby in her arms. That prompted another observation from a friend: The same design that made it easy for a person in a wheelchair to glide effortlessly out the front door to a broad sidewalk would also make life less of a hassle for young parents pushing a stroller.

My first experience with barrier free living was four years ago, when I represented a buyer who had been confined to a wheelchair for life who was buying a home in north Charlotte. What an education! The builder was great; everyone was very cooperative when I successfully communicated what modifications my buyer needed and why. But most important, I learned a great deal about what my client went through. Yes, it became a personal cause.

I’ve since expanded my knowledge about this growing segment of the home buying market by successfully completing both parts I and II of the Certified Aging-in-Place Specialist (CAPS) program taught by the National Association of Home Builders.

To learn more, click on some of the resources linked above, or send me an email.

The Charlotte real estate market suggests we’re in a sputtering recovery, which means it’s more important than ever to partner with a Charlotte buyers agent who knows the market – and even more important, knows how to negotiate the best possible deal.

The number of homes on the market for August in the Charlotte-Gastonia-Rock Hill NC/SC Metro Area was 20,924. The average price was $205,915 or 89.7% of the list price, which is $20,801 or 9.17% lower than the average price at the same time last year. The average number of days on the market for residential listings is 4.86 months.

What else do these numbers tell us about Charlotte real estate? They show there are some great opportunities for investors and first-time home buyers — IF you know how to recognize and take advantage of the great deals that are out there. Yes, it’s tricky these days, but the experienced eye of an exclusive buyers agent can help you read the confusing and sometimes conflicting market signals and steer you in the right direction.

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Search for Charlotte, NC homes on your phone!

Imagine spotting the home of your dreams while exploring neighborhoods in Charlotte. Wouldn’t it be great to access the Multiple Listing Service (MLS) information on your smartphone?

Here’s another possibility: You’ve found the section of Charlotte that’s got everything you want. Shopping centers, entertainment venues, and your workplace are conveniently nearby. And you have quick and easy access to one of Charlotte’s famous greenways. You feel like you belong. Now you want to know what homes are available in this area.

Well, your wish has come true! Our buyers are using their smartphones to search for homes — and with our mobile IDX, you can target the features you want. Our mobile IDX is optimized for smartphones and handheld devices. You can specify your selection criteria from your desktop, or use a map-based search to find the Charlotte homes for sale that meet your search criteria. Search all the Charlotte area homes for sale, including Charlotte MLS listings, Charlotte For-Sale-by-Owner homes, Foreclosures, and New Construction, too!

It’s the vital information you need organized the way you want it. Search the Charlotte region MLS by neighborhood, commute distance, address/zip, or by the distance from your current location while you’re driving around. Just go to our website and click on “Find a Charlotte home!” – or just click on the image above, and you’re on your way! You can also search for new construction at NewHomeShopping.com, foreclosures at HUDHomes and ForeclosureFreeSearch.com, and For-Sale-by-Owner homes at FSBOSellBuy.com.

If information is power, this new feature is Frodo’s ring in today’s real estate market! In this market, you need every advantage, and especially the added benefit of an experienced professional who is ethically bound to provide exclusive representation to the buyer, one who never takes listings. So don’t hesitate to contact us with any questions about our exclusive buyer representation services.