18 Jul 2018

What’s Up with This Housing Market?

Allen Tate CEO Pat Riley encourages buyers and sellers to ask questions

Multiple offers. Steady price appreciation. New players in the real estate marketplace.

“It’s rare that a day passes without someone asking me “What’s up with this housing market?” said Allen Tate Companies President and CEO Pat Riley.

In the July edition of Carolinas Market Update, Riley offer his take on this “crazy” market fueled by lack of inventory and shares insights on why home buyers and sellers need a trusted advisor – now more than ever.

“We’re seeing the lowest inventory of properties of sale since World War II,” said Riley. “Builders are building half of what they have in the past and 42 percent of existing home inventory is either dated or overpriced.”

New players in the real estate marketplace are creating confusion for consumers, said Riley.

“Your home is your most important investment. To buy or sell, you need a full-time, well-seasoned, trusted advisor,” said Riley.

“Even if 10 buyers are knocking on your door, you still need someone to walk you through multiple contracts, pre-approval vs. pre-qualification, due diligence, appraisals, title and closing issues,” said Riley.

“Consumers need to question claims and offers that seem too good to be true,” said Riley. “No technology solution can sell your home, price your home, stage your home, negotiate for you, navigate repairs, or coach you on what – or what not – to do with your most important possession. And no need to discount their home if it’s memorable and priced competitively.”

“There’s no question that the real estate market is topsy-turvy. But we’re selling 75 homes a day and we know how to navigate it,” said Riley.

Carolinas Market Update is targeted to consumers in the Charlotte, Triad, Research Triangle and Upstate S.C. regions. It is produced quarterly by the Allen Tate Companies and features information, statistics, trends and predictions about the real estate market in North and South Carolina.

Allen Tate Companies
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