I see you are a realtor. What's going on with Charlotte's growth? Where is the next hot spot? I see West Charlotte ( Freedom Dr/Toddville Road) is slowly showing an increase. Some friends report getting rents around $ 950 for homes that used to rent for $ 750? Any homes for sale that you can give us a heads up on? Thanks

This is one of the fastest growing cities in the country and many are Millennials. It's a feeding frenzy both for rentals and for sales.

The major thing driving both is lack of inventory. We have under 1 month inventory for sales while a normal market is 6 months.

Rentals are similar. I get over 100 responses in a day when an ad hits Zillow and the only question I get if they call is it still available. There is an absence of affordable housing but now is not the time to try to buy. Even the lower end of the market is getting priced to high.

Every area is going up. I have several in Darby Acres, Windsor Park and Belmont. They have almost tripled in 10 years and in 2008 you couldn't give them away.

Bottom line is it isn't sustainable. I think that by the time we reach next September it will slow down. If not then by next January when the next tax law for OO homes goes into effect. I'm selling about 40% of my properties this spring and when the market cools off I'll go back in and replace them.

If I see anything I'll will let you know. Let me know what to look for.

FREEDOM PARK: They're staring at 550 and going to 1.9m. Avg $715,000. Avg. rental $1,525.

NC Investor,

Based on your professional advice last week, I decided to use an agent to list my rental house for sale. Check it out: MLS #: 1087082 or 1906 Adams Street listed at $45,000.

I interviewed 3 agents ,..and I chose the one that seemed the most motivated to market a house for under $50K.

ROY: I hope it works out well for you. As for low ball offers, it doesn't matter what the house is listed for everyone receives low ball offers. And you'll probably get some tire but that's one of the benefits of having a Realtor...she will deal with it.

NC investor,

1st low ball offer came in about 2 hours ago,...some investor made a verbal offer of $35,000. Since it was not in writing, I decided not to counter his offer. He is just 'feeling me out'.

Sorry to hijack this post. I may need to start a new one.

ROY: Hijack away. I agree verbal offers aren't serious offers. If they are really interested they submit a written offer. Did they call it in to your Realtor?

Charlie: Charlotte has a great medical system. Too bad they're about to rake their patients by merging with another system. They estimate rates will go up 10-15%.

NC Investor,

All realty agents in my town have contacts with their own pool of investors and these investors are usually the first to hear about 'pocket listings'. My listing agent just called this one on the phone and gave him some quick details about the house and asked if he was interested. I think $35K came out of his mouth without much thought behind it.

I do like the fact my agent is calling me and letting me know all of the activity that is going on behind my back. I told my agent all serious offers will either be accepted or countered. Serious offers need to be in writing by my agent or a buyers agent.

Some verbal offers are tire kickers. Others, like mine, are dead serious. When I'm looking at 20+ houses, I only make verbals, or at most scratch them down on a piece of paper. I won't waste a day reading thru all the crap documents, 90% of which are unnecessary to a transaction between a willing buyer and seller.

The true definition of a pocket listing is where the broker holds a signed listing agreement either exclusive right to sell or exclusive agency BUT it is never advertised.

It's a great vehicle for investors but it's also used on very high end OO where the broker has a large rolodex of private clients.