MAJOR TIME IN CHARLOTTE - WEEKLY UPDATE 5/16/25

It’s another MAJOR week in Charlotte, NC with the PGA Championship at esteemed Quail Hollow Club!

For the 2025 PGA Championship, Quail Hollow is playing as a par-71 course stretching 7,626 yards. Organizers constructed 250 structures, laid down over 620,000 square feet of decking, installed 3.5 miles of chain-link fencing, stretched over 45 miles of electrical cabling, and here are the 3 things you need to know this week.

Tax-Off!!: New data shows over 40% of U.S. properties are potentially overassessed and most homeowners have no idea.

You may find this shocking, but believe it or not the tax guy doesn’t always get it right.  The median potential savings for homeowners who protest is $539/year. In some cases, it’s over $1,800. There’s a new tax protesting resources from realtor.com that can potentially uncover some savings for you. It can help estimate potential savings, builds your evidence packet, and helps compare similar properties. https://www.realtor.com/myhome?tax=protest. If you still don’t think the value is correct, just reach out and the team and I will be happy to offer an expert-level property value assessment. 

Apply Here: Purchase mortgage applications jumped 11% for the week ending May 2nd. 

Per the Mortgage Bankers Association (MBA) this represents a 13% increase from a year ago. Refinance applications also rose 11% week-over-week, with VA refis surging 26%, as the average 30-year fixed mortgage rate dipped to 6.84%.  The question becomes, will this lead to an increase in buyer activity? For the Charlotte Region the cumulative days on market were up almost 29% YOY and closed sales down 2.3% YOY. Leading to a slower start to what has usually been a “hot” spring market.

Staged: There are 3 rooms that can cost you thousands
 
According to the 2025 National Association of REALTORS® Profile of Home Staging the living room, primary bedroom, and kitchen are the rooms that buyers pay the most attention to. Eighty-three percent of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home. The make-or-break spaces when it comes to staging and showing your home, and if you get them right, you’re more likely to secure top dollar for your property. 

There’s a ton to do in our beautiful city this weekend!  I hope you have an awesome 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.