LUCK.
LUCK. THIS WEEK ON FLASH POINT WE'RE GOING TO TAKE A LOOK AT BOTH
SIDES OF THAT ISSUE.
BUT TAKE A LOOK HERE TODAY NEW
LISTINGS HARD TO COME BY DOWN
NEARLY SEVEN PERCENT AT THE
SHORTAGE AND SUPPLY IS DRIVING
UP DEMAND.
AMAZING HOW THAT WORKS.
THE AVERAGE LIST PRICE UP
NEARLY 11 PERCENT THAN PERCENT
OF ORIGINAL LIST PRICE RECEIVED
RIGHT AT ONE HUNDRED PERCENT.
OF COURSALL RIGHT.
STAND BY.
THREE, TWO.
JOINING US TODAY IS REALTOR AND
PROPERTY MANAGER AS WELL AS THE
PRESIDENT OF THE CANOPY REALTOR
ASSOCIATION DAVID KENNEDY.
MR. KENNEDY, THANK YOU FOR
COMING ON.
WE APPRECIATE IT.
GLAD TO BE HERE, BEN.
THANK YOU FOR HAVING ME .
ALL RIGHT.
SO TELL ME QUITE THE TIME TO
HAVE YOUR JOB HERE IN CHARLOTTE
,YOUR BEST SUMMATION OF WHAT
IN THE WORLD IS GOING ON IN THE
CHARLOTTE REAL ESTATE MARKET
RIGHT NOW.
I MEAN IT'S LITERALLY WHAT
EVERYBODY'S TALKING ABOUT.
SO I THINK THIS IS A ONCE IN A
GENERATION REAL ESTATE MARKET.
I THINK IT BEGAN BACK IN TWO
THOUSAND SEVEN EIGHT NINE BACK
IN THE RECESSION YEARS WHERE
THE HEADLINES WERE FORECLOSURE
MEASURES.
BUT THE B SIDE TO THOSE
HEADLINES WERE BUILDERS LOSING
THEIR BUSINESS.
YOU KNOW, SMALL BUILDERS,
MEDIUM SIZED BUILDERS AND THEY
NEVER CAME BACK.
SO WHAT THAT LED TO WAS YEAR
AFTER YEAR FOR WELL OVER A
DECADE OF MORE HOUSEHOLDS BEING
FORMED THAN HOUSES BEING BUILT
TO HOUSE THESE HOUSEHOLDS.
AND SO WE'VE KICKED THE CAN
DOWN THE ROAD FOR OVER 12 YEARS
AND NOW WE'RE AT A PINCH IN OUR
INVENTORY.
AND BECAUSE CHARLOTTE IS SUCH A
DESIRABLE PLACE TO COME, IT'S
NOT JUST AFFECTING THE PEOPLE
THAT LIVE HERE AND WORK HERE.
IT'S BEING EXACERBATED BY THE
PEOPLE THAT WANT TO ENTER INTO
OUR MARKET.
SO VERY, VERY SMALL AMOUNT OF
INVENTORY OUT THERE AND QUITE A
BIT OF DEMAND AND THE DYNAMIC
YOU'RE DESCRIBING TO ME RIGHT
NOW THAT DOESN'T SEEM TO ME AT
LEAST THAT'S GOING TO BE
CHANGING ANY TIME IN THE NEAR
FUTURE.
I MEAN WE'RE GETTING READY TO
GO INTO SUMMER.
SO OF COURSE IT'S TRADITIONALLY
A SUPER HOT TIME FOR THE MARKET
AND THEN BEYOND CHARLOTTE STILL
GOING TO BE A GROWING THRIVING
CITY.
ARE YOU EXPECTING THIS DYNAMIC
TO EASE UP AT ALL?
WE'D LIKE TO THINK THAT THERE'S
GOING TO BE SOME INTRODUCTION
OF INVENTORY IN THE MARKET.
THERE IS NO QUICK FIX TO THIS.
SO WHAT WE NEED IS MORE
INVENTORY AND WHAT WE NEED IS
MORE AFFORDABLE INVENTORY.
AND WHILE WE'RE ENCOURAGED THAT
WE WILL HAVE NEW LISTINGS
INTRODUCED TO THE MARKET THAT
WE TRADITIONALLY ENJOY DURINNOW
WE WILL HAVE NEW LISTINGS INTRODUCED TO THE MARKET THAT WE TRADITIONALLY ENJOY DURINNOWE
WE'VE GOT A LIST OF SOME OF THE
HOT ZIP CODES RIGHT NOW IN
CHARLOTTE AND THEY RUN THE
GAMUT FROM YOU KNOW,
HUNTERSVILLE, STEEL CREEK,
WESLEY HEIGHTS.
WHAT ARE MAKING THE ZIP CODES
SO HOT?
WELL, THERE IS T UNDERLYING
THEME OF WHEN A POCKET OF
HOUSING UNITS OR A ZIP CODE IS
QUOTE UNQUOTE HOT.
THE UNDERLYING THEME IS IS
TWOFOLD.
IT'S AFFORDABILITY AND
AVAILABILITY IN THE WORDS
INVENTORY THAT'S AFFORDABLE.
SO IF YOU SEE POCKETS OF AREAS
IN CHARLOTTE THAT ARE BUCKING
THE AVERAGE WHAT'S THE AVERAGE
INVENTORY 18 DAYS.
SO IF YOU SEE AREAS THAT SALES
ARE GOING UP WHERE THERE'S MORE
INVENTORY, IF THERE'S SALES
GOING UP AND THERE'S MORE
INVENTORY AND IT'S MORE
AFFORDABLE, IF THERE'S MORE
PARCEL OF LAND THEN JUST ONE
UNIT, ONE PARCEL OF LAND.
WHAT DO YOU SEE AS BEING I
GUESS THE NEXT BIG HOT ZIP CODE
?
I DON'T THINK IT'S HARD TO
PREDICT, HOWEVER, THE ONE THING
THAT I BELIEVE DRIVES COMMERCE
IT DRIVES POPULATION, IT DRIVES
VALUE IS ACCESS TO TRANSIT.
AND SO WHEREVER YOU SEE TRANSIT
BEING CONSTRUCTION OR TRANSIT
BEING PROPOSED, THAT
PROPOSITION NEEDS TO BE DONEN YR
MESSAGE TO FOLKS WATCHING THIS
MORNING WHO ARE SCARED TO GET
IN ON THIS BECAUSE THEY KNOW
SELLING THEIR HOUSE IS GOING TO
BE A LOT OF FUN.
THEY'LL GET OFFERS OVER ASKING
BUT THEN THEY GOT TO GO BUY
SOMEWHERE AND THAT'S WHAT
THEY'RE WORRIED ABOUT.
WHAT WOULD YOU TELL THOSE
PEOPLE?
SO FIRST THING YOU DO IS IS
YOU YOU GET THE ADVICE OF A
REALTOR.
THE SECOND THING YOU DO IS GET
THE ADVICE OF A REALTOR.
THERE IS ONE REALTOR FOR EVERY
TWO HUNDRED AND THIRTY PEOPLE
IN THE UNITED STATES AMERICA
AND EACH REALTOR CAN IDENTIFY
THAT'S A GOOD THING BECAUSE
EACH REALTOR CAN IDENTIFY OR
HELP YOU IDENTIFY WHAT YOUR
INDIVIDUAL APPROACH TO THIS
MARKET COULD BE.
THAT WOULD BE MOST ADVANTAGEOUS
TO YOU THEN ONCE YOU GET THERE
YOU HAVE TO UNDERSTAND THAT
IT'S GOING TO BE A WHOLE HECK
OF A LOT EASIER FOR YOU TO SELL
SOMETHING THAN IT IS FOR YOU TO
BUY SOMETHING.
SO YOU'LL GET A GREAT OFFER ON
ON A PROPERTY THAT YOU LIST.
IT'S JUST WHAT YOU WANT TO DO
WITH THAT MONEY WHERE YOU WANT
TO SPEND IT AND YOU DO NEED TO
BEGIN WITH THE END IN MIND HAVE
A PLACE TO GO BEFORE YOU LIST
AND SELL IT BECAUSE IT IS QUITE
EASIER TO SELL THAN IT IS TO
BUY.
DON'T NEED TO GET BOGGED DOWN
AND THEN LOCAL POLICY BUT IT'S
SOMETHING WE TALK ABOUT A LOT
ON THIS SHOW AND THAT'S THE
TWENTY 40 PLAN THE CITY LEADERS
ARE TALKING ABOUT THAT DEALS
WITH SINGLE FAMILY ZONING AND
DUPLEXES, DUPLEXES AND TRIPLEX
HOUSES AND I KNOW IT'S BEEN
CONTROVERSIAL.
WHAT IS YOUR VIEW OF THAT IF
SOMEBODY IS WANTING THERE TO BE
MORE INVENTORY IN THE CITY SO
NO HOUSING IN AND OF ITSELF IS
IS RACIST OR DISCRIMINATORY
WHETHER IT BE SINGLE FAMILY OR
MULTIFAMILY.
HOWEVER, HOUSING HAS BEEN USED
AS A TOOL TO DISCRIMINATE AND
SO THE BALANCE WE HAVE HERE IS
TRUST.
THERE ARE SOME PEOPLE THAT ARE
AFRAID OF SINGLE FAMILY HOMES
BECAUSE OF HOW IT CAN BE USED.
THERE'S SOME PEOPLE THAT ARE
AFRAID OF MULTIFAMILY HOMES
BECAUSE OF HOW THOSE CAN BE
USED AND WHAT EVERYONE NEEDS IS
A LEVEL OF TRUST THAT THE RIGHT
TYPE OF HOUSING WILL BE USED IN
THE RIGHT SITUATIONHE SEAT OF TR
PANTS WHEN IT COMES TO
DEVELOPMENT AND BUILDING THAT
WE'RE ACTUALLY TRYING TO SET A
PLAN IN PLACE.
ALL RIGHT, FINAL QUESTION.
YOUR PREDICTION ONE YEAR OUT
FROM RIGHT NOW APRIL GOING
I CHARLOTTE AS WE KNOW
CHARLOTTE'S GOING TO STILL BE A
THRIVING GROWING REAL ESTATE
MARKET BUT ARE WE GOING TO BE
TALKING ABOUT THE SAME PROBLEMS
TO AN EXTENT?
ABSOLUTELY.
AND HERE'S THE THING THAT IS
NOT NECESSARILY A BAD THING
BECAUSE THERE ARE PEOPLE IN
INCREDIBLY DENSELY POPULATED
CITIES THAT WANT TO COME TO
CHARLOTTE AND WHAT WILL THAT
DO?
IT WILL TURN US INTO AN
INCREDIBLY DENSELY POPULATED
CITY THAT'S NOT NECESSARILY
GOOD OR BAD IN AND OF ITSELF.
BUT WHAT CHARLOTTE IS POISED TO
DO IN 20 40 COMPREHENSIVE PLAN
IS GROW INTELLIGENTLY AND SO
THERE IS GOING TO BE SOME
GROWING PAINS THAT COME ALONG
WITH THAT INTELLIGENT GROWTH
AND I THINK THE PAINS WILL BE
WORTH IT.
SO LET'S GROW IN A WAY IT'S
GOING TO HELP A LOT OF PEOPLE
AS MANY PEOPLE AS WE POSSIBLY
CAN IF THAT MEANS WE'RE LIKE AN
IRISH PUB ON ST. PATRICK'S DAY
AND WE'RE ONE IN ONE OUT FOR
THE NEXT YEAR, I THINK THAT'S
SOMETHING THAT WE CAN LIVE
WITH.
SO I THINK DOWN THE ROAD THE
LONGER BIGGER PICTURE I THINK
WE'RE POISED FOR MORE
INTELLIGENT GROWTH AND SUCCESS
BUT WE WILL BE TALKING ABOUT
THIS TO AN EXTENT NEXT YEAR AND
PROBABLY THE YEAR AFTER THAT
AND THE YEAR AFTER THAT.
IT'S IT'S A PRICE OF THE
SUCCESS I GUESS THE CITY'S
HAVING AND THAT'S THAT'S ONLY A
GOOD THING.
ALL RIGHT.
THANKS FOR COMING ON.
WE APPRECIATE IT SO MUCH.
FASCINATING TOPIC.
AND MR. KENNEDY, YOU ARE IN THE
MIDDLE OF ALL OF IT RIGHT NOW.
I CAN ONLY IMAGINE WHAT IT'S
LIKE.
ALL RIGHT.
DAVID KENNEDY JOINING US THIS