What is your name?Julie Tuggle
City
Charlotte
What part of the real estate market has personally impacted you? (Were you a buyer, seller, renter, real estate speculator or otherwise?)
Real estate investor and broker.
How has your ability to secure financing directly impacted your ability to purchase or refinance properties of critical interest?
My credit is good, so I haven't had any problems -
What has been the professional impact suffered (or enjoyed) by your own personal finance officer? (For example, has your broker benefited, gone broke, or otherwise been impacted by these changes in the market?)
Our company business has suffered over the past year due to the weak real estate markets in other areas of the country because most of our business comes from buyers who are relocating to Charlotte. Because they are having a difficult time selling their existing homes, they are unable to purchase a home here.
What impact will adjustable mortgages have on your upcoming (or recent, past) finances?
We never advised buyers here to take adjustable mortgages because even when the market was appreciating rapidly in other areas of the country, the appreciation was very slow here - not enough appreciation to cover the negative amortization that happened with adjustable mortgages.
What changes or adjustments to market value are currently impacting your real estate situation (such as in the case of properties declining in value, failing to appreciate in value as expected, or those expected to decline or stagnate in value shortly)?
Market rates are still slowly rising here - properties aren't losing value like they are in other areas of the country.
How will the changes in the market impact your financial situation today and moving forward?
Probably next year will be not much better than last year for my company.
What changes would you suggest to your past self, if you could go back in time by even just a year or two?
None, really because the fluctuations that created the problems in other areas of the country didn't affect the market value of Charlotte area properties. But it did affect our business because our company only works with buyers, and our buyers came from areas where the real estate values dropped considerably.
How much money has the change in the real estate, mortgage and speculative property finance markets cost (or benefited) you?
It has hurt our business because our buyers can't sell their existing homes where they live now and most of our business comes from relocating buyers, not local buyers.
In the future, what do you see yourself investing in most heavily? (Real estate, stocks, bonds, mutual funds, hog bellies, oil, etc.)
I'll stick with real estate, but diversify in stocks a little.
What words of advice do you offer to those considering real estate investment?
Buy and hold is the best strategy in the Charlotte NC market. Put a tenant in the property and let your tenant pay off the loan for you!
What is your website?
Charlotte Real Estate - Charlotte Homes for Sale
