Your inside source for real estate, development and construction information serving the counties of Mecklenburg, Union & Iredell VOLUME 97 NUMBER 111 ■ MECKTIMES.COM
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TUESDAY, NOVEMBER 23, 2021 ■ $2.00
Sick and Furious: How to Deal With Co-Workers Who Bring Illnesses to Work Page 7
Poll: Millions Don’t Feel Heard at Work Page 2
Recent Home Buyers at Ease with Renting Out Their Home Page 3
Interest in Relocation Dips; 30% Eyeing New Metro Area Page 4
Homeowners Sitting on Record-Setting Equity Page 4
Report: Industrial Market Has Staying Power
Despite Competitive Housing Market, Most Buyers Submit Only Two Offers Although in-person viewing remains a priority for home shoppers, the desire for 3D and virtual tours is also high and increasing from past years.
The record-setting housing market has brought anecdotes of frustrated home shoppers being repeatedly outbid and using risky strategies, such as waiving contingencies, to be competitive. But new data from Zillow’s Consumer Housing Trends Report1 debunks common misconceptions that all buyers have the same experience, and shows the reality for most is not as grim. The typical buyer surveyed this year submitted just two offers before one was accepted, up from one in each of the previous three years. A vast majority of buyers (88%) had an inspection done before they closed on their new home. “Our 2021 survey of buyers found buying a home got more challenging in the past
year, but many buyers were ultimately successful in landing a home without taking unnecessary risks,” says Manny Garcia, a Zillow population scientist. “Most buyers continue to get inspections, and sellers appear to prioritize higher offers over waived inspections. Most buyers are ultimately achieving homeownership by doing their research, making trade-offs, and considering a diverse array of options.” The survey finds first-time buyers do generally struggle more than repeat buyers. First-time buyers tend to have smaller down payments -- in large part because they are much less likely to have equity
PLEASE SEE BUYERS ON PAGE 6
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How a Simple ‘Video Shoot’ Can Get Legally Complicated Page 7
Wall Street is closely monitoring the latest economic reports for more clues as to how businesses and consumers are dealing with rising inflation. Companies have been raising prices as they face higher raw materials costs and supply chain problems. Consumers have been willing to pay the higher prices on many goods, though analysts are concerned that consumers could eventually pull back on spending because of inflation.
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