No, not the James Taylor song. At least in this instance.
This may serve as the most classic of examples regarding my point over the past few months about how the real estate brokers sometimes shoot themselves in the foot.
Keep in mind that I have seen all of these stories within this week. It's not like conditions have changed since one or the other was written. That is far from being the case.
First, a couple of the stories released within the past few days with help from the very real estate associations that agents pay dues to and support:
So after reading these, why would an out-of-area (or even local) real estate investor even think of buying there? Some might even put an X through that region on their map and be done with it. Again, those stories above include info provided by the realty association. No one is out to attack the local marketplace.
And then, a national builder's association announces its 15 "best" builders markets around the country. And can you guess which state appears more than once in their Top 15 list?
Very good - it's North Carolina, with the Raleigh area being its highest, showing the top 7. And top 2 nationwide other than the state of Texas:
Right now I wish I had a client that is a builder in any of those areas of North Carolina, but unfortunately I don't. I'd be on them hour after hour to start a campaign showing that the reason the home market is in shambles is because there is so much interest in (name of developments). And show their web site and phone number.
What's that saying? "If you build it, they will come"? Especially in North Carolina. Ouch.
(Almost) Spring Break
3 days ago