2009 was tough! The mantra for 2009 was “I will survive”. For most of us we are glad to say that we’ve been there, done that, and it’s time to move on.

The predictions for 2010 are peppered with cautious optimism. The speculation is that the bottom for the residential real estate market will be reached by mid-year. However, there are mounting concerns over the large number of commercial loans coming due. The still looming banking crisis and the lack of capital in the market will throttle the recovery.

In Charlotte we have had several economic development success stories resulting in the creation of thousands of new jobs. The partial list includes Ally Bank, Electrolux, and Zenta. Employment numbers are on the rise, and we appear to be coming out of the doldrums and headed towards a local recovery. The announcement of Brian Moynihan as CEO of Bank of America and his declaration that the headquarters will remain in Charlotte is another positive. There is hope on the horizon.

So let’s enter the New Year with creativity, vision, passion, purpose, and the realization that the joy is in the journey.

Please join me as we raise our proverbial glass and toast the New Year:

We’ve watched and we’ve waited
And We’ve all suffered through
What the Doctor has told us is economic flu.
The foreclosures were rising
While interest rates were low
The banks were not lending the answer was NO!
2009 was the year to lament.
We are glad to be through it,
But boy are we spent!
The New Year is upon us as we enter with glee.
There is hope for rebuilding this lousy economy.
Home sales are growing,
But prices are down.
Nay hope springs eternal when you’re selling your ground.
To work with a client and write the big deal
Oh what an experience Oh what a thrill!
Oh to write leases and contracts and such
A 1031 would be such a rush!
Let’s work for the client.
Let’s work ‘cause we can. Let’s work for the little guy.
Let’s work for the man.
When the day is over and all is well,
We will laugh as we tell how we lived through the hell.
We’re stronger and wiser, more driven than ever
Here’s to recovery and being so clever.

Cheers to the New Year!

Please do not hesitate to call NAI Southern Real Estate at (704) 375-1000, or contact Kevan Smith at rksmith@srenc.com for any of your real estate needs.