Author: Jane Monreal Published: 10:53 PM EST November 15, 2024 Updated: 11:28 PM EST November 15, 2024   CHARLOTTE, N.C. — Analysts have stated another cut in the federal interest rate is not lowering mortgage rates and it's having an impact on the housing market.  David Hoffman of Hoffman Realty in Charlotte told WCNC Charlotte he believes the economy is going to keep moving in the right direction, but inflation is still high. That's going to limit how much movement we'll see in the housing market.  "From 2017 through 2020 inflation was under 2%," Hoffman said. "Then over the last three-and-a-half, four years, it was almost 6% on average." He said although inflation is coming down, about 2.4% in September, the U.S. still has a ways to go to get back to pre-2020 levels. Hoffman said 2.1% is the sweet spot, but it's difficult to get there.  "We have to overcorrect and almost have stagnation, maybe even deflation, to get back to normal," Hoffman said. "What that means for the housing market is until inflation goes back to normal, bonds are not attractive. And until bonds become attractive again, mortgage rates won't come down." He said that's bad news in the short run for prospective homebuyers. "So as long as inflation is above where it needs to be and prices are too high, mortgage rates are gonna stay high," Hoffman warned. "And so that's the bad news in the short run. But the good news is, there's a lot of demand. The good news is the stock market went up 6% in the last week." He said that points to consumer confidence building. "There's a lot of demand that's been pent up," Hoffman said. "Prices starting to come down, probably not low enough, but more and more people are getting off the fence. And so in 2025, I see homes that need work, going lower and lower. And I see homes that are in great condition with low inventory going up." Hoffman said mortgage rates will remain high which isn't likely until late next year, with homebuyers in the $200,000 to 400,000 range feeling the sting of higher rates the most. Still, the Charlotte real estate agent said he expects to see prices coming down because high supply is pushing down demand. "They're like, OK, I'm giving up a 2.75% rate for a 6.5% rate, but the $600,000 on our home is now $550,000," Hoffman explained. "So they're getting a little bit of relief in the lower prices." While the real estate market in the Charlotte area remains competitive, Hoffman said buying or selling a home also depends on your timing. "I think that if you're looking to move in the next two to three years, I would do something," he said. "Now if you're going to be in your home for at least three years, you can wait. But if you want to wait another one or two years, the challenge will be that when you wait for rates to come down, it's because prices have come down. So if you have a home to sell, you don't want to hold on to that and lose your equity just waiting for rates to come down."  Watch the Full Interview      

Read more

Moving to the Metro Charlotte Area: What You Need to Know Considering a move to the Charlotte metro area? You're not alone! With its booming economy, mild climate, and friendly neighborhoods, Charlotte is one of the fastest-growing cities in the United States. Whether you're relocating for work, looking for a more affordable lifestyle, or simply seeking a change of pace, this guide will help you get familiar with everything that makes Charlotte an ideal place to call home. Vibrant Job Market Charlotte is known as a major financial hub, housing the headquarters for several major banks, including Bank of America and Wells Fargo. But banking isn't the only industry thriving here. Charlotte also has a growing tech scene, healthcare, energy, and manufacturing industries. Whether you're looking for corporate opportunities or entrepreneurial endeavors, the city's diverse job market offers plenty of options. For more details on job opportunities in the area, visit [Charlotte Regional Business Alliance].        2.  Affordable Living Compared to other large metro areas like New York, Chicago, or Los Angeles, Charlotte offers a lower cost of living, making it an attractive destination for families, young professionals, and retirees alike. From affordable housing options to lower utility costs, Charlotte lets you stretch your budget further while enjoying all the perks of city living. Learn more about Charlotte's cost of living through this [cost of living calculator]. Beautiful Neighborhoods The Charlotte metro area boasts a variety of neighborhoods, each with its own charm and personality. If you're looking for a walkable, urban feel, neighborhoods like Uptown, Dilworth, or Plaza Midwood might catch your eye. Families often gravitate toward the suburbs like Ballantyne, Matthews, and Huntersville, where you'll find spacious homes, top-rated schools, and plenty of parks. Discover more about Charlotte's neighborhoods at [Charlotte’s Best Neighborhoods Guide]. Top-Rated Schools For families with children, the quality of education is a top priority. The Charlotte area is home to several highly-rated public schools and an array of private and charter school options. Some of the most sought-after school districts include: - Union County: Known for its top-performing schools and family-friendly communities like Waxhaw, Weddington, and Marvin. Check out [Union County Public Schools]. -Cabarrus County: Offers excellent schools in fast-growing areas like Concord and Harrisburg. Learn more about [Cabarrus County Schools]. - Iredell County: A great option for those looking to settle near Lake Norman. Iredell-Statesville Schools serve this area, which includes Mooresville and Troutman. More information can be found at [Iredell-Statesville Schools]. - Fort Mill, SC: Just south of Charlotte, Fort Mill is known for its highly-rated schools and proximity to the city. Visit [Fort Mill School District] for details. - Indian Land, SC: Another South Carolina option, Indian Land offers growing communities with strong schools. You can learn more at [Lancaster County School District]. In addition, Charlotte has access to several private schools and the proximity of excellent higher education institutions like UNC Charlotte and Davidson College, making it a great area for lifelong learning. Explore [Charlotte-Mecklenburg Schools] and other educational options here. Transportation and Accessibility Charlotte's location along major highways like I-77 and I-85 makes it convenient for commuters, whether you’re headed to another part of the metro or traveling out of state. Charlotte Douglas International Airport is a major hub, making it easy to jet-set for business or leisure. Public transportation options, including the expanding light rail system, offer an alternative to driving, especially if you plan to live and work in the city center. For more information on public transit, visit the [Charlotte Area Transit System](https://charlottenc.gov/cats). Outdoor Activities and Recreation Charlotte is a dream for outdoor enthusiasts. With a mild climate, you can enjoy year-round outdoor activities like hiking, biking, and kayaking. Lake Norman, just 20 minutes from Uptown, is perfect for water sports and weekend getaways. Additionally, Charlotte's parks and greenways make it easy to stay active and enjoy nature without leaving the city. Check out [Mecklenburg County Parks & Rec] for details on parks, trails, and recreational programs. Cultural and Entertainment Scene From sports to arts, Charlotte has a lively cultural scene. Sports fans can catch an NFL game with the Carolina Panthers or an NBA game with the Charlotte Hornets. If you prefer arts and entertainment, the city boasts numerous museums, theaters, and live music venues. The NASCAR Hall of Fame is a must-visit for motorsports enthusiasts. Festivals, farmers' markets, and community events keep the calendar full, ensuring there's always something to do. Get a full list of activities and events from [Charlotte's Got A Lot]. Southern Hospitality Meets Urban Convenience Charlotte strikes a perfect balance between the warmth and charm of Southern hospitality and the convenience of a growing urban center. Residents love the friendly, welcoming atmosphere of the city's communities, whether they're attending local events, chatting with neighbors, or getting involved in community initiatives. A Growing Food Scene Charlotte's culinary scene is expanding rapidly, offering a blend of Southern classics and innovative flavors. The city's breweries, BBQ joints, and fine dining options give foodies plenty to explore. With an influx of new residents from all over the country, the food culture here reflects a diverse mix of tastes and cuisines. Explore Charlotte’s best eateries through [Charlotte Agenda’s Restaurant Guide]. At David Hoffman Realty, we’re more than just real estate agents—we’re your neighbors and trusted guides in this exciting journey to make Charlotte your new home. Our team has deep roots in the metro area, with firsthand experience in the neighborhoods, schools, and local amenities that matter most to you. Whether you're searching for your dream home in a family-friendly suburb or seeking an urban retreat in the heart of Uptown, we’ve got you covered. We understand that moving can be overwhelming, but you can count on us to be with you every step of the way. From your first inquiry to handing you the keys, we provide personalized service, expert advice, and genuine care. Our deep knowledge of the market, coupled with a commitment to building real relationships, means that you’ll always have an advocate on your side—whether it's negotiating the best deal or helping you settle into your new community. Moving to Charlotte is an exciting opportunity to experience life in a city that offers both a dynamic urban environment and peaceful suburban options. With a booming job market, affordable housing, excellent schools, and a lively cultural scene, the Queen City is ready to welcome you with open arms. Let David Hoffman Realty help you navigate this important transition with confidence and ease. Contact us today to begin your journey to finding your perfect Charlotte home! Real Estate Redefined: Local Expertise. Genuine Relationships. Proven Success.

Read more

Charlotte, North Carolina, October 1, 2024 – David Hoffman Realty is proud to announce that it has been awarded the prestigious title of #1 Top Workplace 2024 in the small business category by Charlotte Magazine. This recognition, based entirely on employee feedback collected through a confidential survey conducted by Energage LLC, reflects the firm’s ongoing commitment to fostering a supportive, growth-oriented work environment. The survey measures key aspects of the employee experience, including themes like Respect & Support, Opportunities for Growth, and Empowerment to Succeed. It’s these qualities that set David Hoffman Realty apart as a leading workplace in the Charlotte metro area. "Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees,” said Energage CEO, Eric Rubino. “In today’s market, leaders must ensure they’re allowing employees to have a voice and be heard. Top Workplaces do this, and it pays dividends.” David Hoffman Realty has now won the Top Workplaces award for two consecutive years, but this year’s #1 ranking underscores just how special the firm’s culture is. "Winning the Top Workplace award two years in a row—and being recognized as #1 in the small business category—is a testament to the incredible culture we’ve built at David Hoffman Realty. It’s not just about real estate—it’s about people," said David Hoffman, CEO. "Our firm is a family, united by a shared passion for serving our clients and our community. This recognition proves that when you prioritize relationships, growth, and support, success follows naturally. I couldn’t be prouder of our firm and the heart they bring to everything we do." At David Hoffman Realty, the focus is on creating an environment where employees not only feel respected but are also empowered to grow both professionally and personally. The firm’s emphasis on training, support, and opportunities ensures that its agents thrive in their careers while maintaining a healthy work-life balance. This forward-thinking approach has revolutionized the real estate industry and made David Hoffman Realty a place where talent is nurtured, and success is celebrated. This prestigious award is a reflection of the firm’s dedication to cultivating a workplace where every voice matters, and every employee is equipped to succeed. David Hoffman Realty continues to lead by example, demonstrating that when you invest in people, greatness follows. As the #1 ranked small business in the Charlotte metro area, David Hoffman Realty looks forward to continuing its mission of redefining real estate through genuine relationships, local expertise, and proven success.

Read more