March, 2022
It was during my attendance at the Keller Williams Family Reunion in 2022 that I looked up to see Gary Keller grace the stage with a t-shirt that said, “BUY DIRT.” The t-shirt was cool, and I was ready to order one immediately, but it was the “BUY DIRT” catchphrase that sparked my interest and created an excitement to hear what he would say next. In short, those two words would change my mindset and understanding of real estate as a professional and a consumer this year.
In an economy where inflation has increased, gas and car prices have soared, and home prices have been affected because of high demand and low supply, creating more opportunities to help first-time home buyers get into a home is a necessity. Most of us in the real estate community are in the same predicament. We all are feeling the frustrations of our buyers who struggle to secure homes after countless offers, including offers over asking price, adding an appraisal gap addendum in the offer, or waiving certain inspections. These strategies have become more commonly used to win the offer.
According to the National Association of REALTORS® (NAR), first-time buyers made up 27% of the home sales market in January 2022, down from 30% in December 2021 and 33% one year ago. Meanwhile, the share of buyers who purchased an investment or vacation home rose to 22% in January 2022. These statistics are an indication of a changing market, and as a local real estate professional, I find it extremely important to keep my clients educated so that they can make moves no matter the market.
According to Canopy in March 2022, “Inventory continues to move lower, with the 16 counties showing 2,455 homes for sale at report time or 0.5 months of supply, which is approximately 15 days of supply at the current sales pace.” With Charlotte being the second largest banking hub in the U.S. and Fortune 500 employers like Centene Corporation moving to our area, months of supply may continue to trend low for the next year or so. So, what do you do when it feels like you can’t compete in the housing market? Buy dirt.
If you’re tired of not finding or winning the home you want and are open to building your home, here are some basic steps you can take to start the process:
I believe in real estate. If you have the funds and an opportunity to invest, it will be profitable during a desirable market or a not-as-desirable market. Go for it because it’s about the long game, and you will have little to no regrets. “BUY DIRT” is a movement. When the home of your dreams is not there, find the land and build it!
I am experienced, knowledgeable, and passionate about working with people. My past career as an accountant and licensed dental hygienist affords me the opportunity to be a trusted advisor to many.