KEEP IT UP: WEEKLY UPDATE 1/17/25

How are those resolutions going?  Hopefully great...KEEP IT UP!

An area of Charlotte, NC you don’t want to forget; Freemore! This area is named after the intersection of 2 main thoroughfares (Freedom Dr and Morehead St) and encompasses 3 smaller neighborhoods Wesley Heights, Seversville, and Ashley Park. It offers historic character and in recent years has undergone significant revitalization efforts with more development in the pipeline. The area is home to some awesome eats and drinks; Noble Smoke, Bossy Beulahs, Tora, Pinky’s, Town Brewing, Legion Brewing, Freemore Tavern, and here are the 3 things you need to know this week.

Home Improvement: More than 56% of 2025 homebuyers rank move-in-ready condition as their top priority.

A recent Bright MLS survey revealed that this is the number one feature buyers are searching for in 2025. Today’s buyers know exactly what they want. No surprises. No delays. Buyers are looking for homes they can move into seamlessly, without the hassle of renovations or repairs. There’s also the added cost pressures of buying in today's rate and price environment leading to less disposable equity for updates or upgrades. If the home is already turnkey; landscaping and proper staging will continue to offer even more value. If the home needs more than a few simple updates, there are some great resources that allow sellers to renovate to sell—without the upfront costs.

Pocket Change: For the first time in 4 year housing affordability did not worsen, affordability improved in 25 of the top 50 metros in 2024.

A household earning the median Charlotte, NC income ($86,105) would have had to spend 37.3% of their earnings on monthly housing costs to buy the typical home (median price $402,928) in 2024, down .3% from 2023. Nationally a homebuyer needed to earn an annual income of at least $116,782 if they wanted to spend no more than 30% of their earnings on monthly housing payments for the median-priced home. The least affordable major markets were Los Angeles, San Francisco and Anaheim, where homebuyers would have needed to spend over 75% of their pay on monthly housing costs. Pittsburgh, Detroit and St Louis were the most affordable.

Affordability Article

Better Call Haul: Charlotte a top destination; U-Haul ranked the metro area No. 2 for one-way moves in 2024.

The Queen City was at the top of this list in 2023, and 2024 was more of the same. The Charlotte metro area remains among the hottest destinations for moving in the United States. U-Haul determines their top growth state and metro rankings based on net gain which contrasts the number of one-way U-Haul trucks entering a city/market compared to those leaving.  After 3 consecutive years holding the top spot, North Carolina ranked 3rd among move-ins per state. South Carolina took the top spot followed by Texas at No. 2. California, and for the 5th year in a row California experienced the largest net loss of one-way movers.

U-Haul Rankings

I hope you and yours have a safe and fun weekend, and remember; We’re never as great as our best day - We’re never as bad as our worst day; Be Confident - Stay Humble.

Steve