Carswells faced steep learning curve during move

Todd Carswell and his wife, Camille, have a well-rounded education in the current housing market: They’ve been sellers, renters, and buyers, all in the span of a year.

The Carswell's odyssey began last spring when they put their house on the market. The couple had been in the home for 26 years, but with the kids out of the house and Todd struggling with a knee issue, they felt the need to downsize to a home without stairs.

“Within one year we experienced the whole gamut, from selling to having to get a rental, and then to purchasing,” Todd said with a laugh.

A quick look at the figures involved reveals how much the market has changed: Back in 1997, the Carswells purchased their home for $153,000. They sold it last June for $380,000.

The couple had built substantial equity, but finding a new home quickly proved difficult. They were forced to rent a smaller place until they could find a house that fit their needs. A friend with a rental property helped out with a discounted rate: $1,300 per month.

The Carswells were well-prepared to handle the expenses of such a move, but the costs left them wondering how younger, less-well-established buyers find housing at all.

“For us, having a lot of equity in the house, it wasn’t as big a deal,” Todd said. “But how in the world are people even getting a starter home?

 “How are people going to start out paying that kind of rent on a lot of the jobs in this area? The numbers do not work.”

They sure don’t. Median household income hovers around $52,000 per year in Burke County compared to the state average of around $65,000. Approximately 18% of Burke residents live in poverty, compared to the N.C. average of 12.8%.

The median list price for homes in the county is $370,000.

The rapid-fire nature of the current market presents another obstacle for buyers. 

Todd and Camille saw a house they liked and called their real estate agent, Whitney Willey, immediately. The home had not even been listed at that point, but Willey helped the Carswells put an offer together and they signed the sale papers the next day.

Todd said it was imperative to get an offer out quickly.

 “It is critical to have a good agent, especially now,” Carswell said. “If you see a property you like and you can’t get in to see it, there’s a good chance you’re going to lose it. We had Whitney, and she stayed on top of things and then made sure we quickly got our offer written up and to them (the seller).”

Things worked out well for the Carswells. But Todd, a financial officer at A Caring Alternative Comprehensive Care Agency, said he sees on a daily basis how difficult it is for many to make ends meet.

“Seeing the numbers of people that are struggling now compared to the past is amazing,” Todd said. “People are having it tough.”