ABC’s Nightline loves it some CLT real estate!
The internet edition of Nightline has a 8.5 minute piece on how Charlotte’s real estate market continues to boom in the face of the nationwide slump. Local realtor Carl Fochler (and former Charlotte mag softball team star shortstop!) gets a lot of airtime, and he gives reporter Kate Snow a tour of a $3.2 million house he recently sold to a NY investor who plans to – get this – flip it (good luck with that, buddy). Carl describes the huge shower in the enormous bathroom as a “carwash for the body.”
Snow also interviews Hugh McColl, who shows off the downtown greenmarket. Interesting moment near the end: Snow points out that the side effect of this booming market is “strip mall after strip mall, gated community after gated community.” She asks Fochler if anyone seems worried about that. He, of, course, replies that he doesn’t think so. Snow points out that of course he isn’t, because he’s making some serious jack from it (he says early in the interview that he’s moving over $3 million of land a month, and getting commission on all of it. At a typical 3% commission — and it may be less or more for the types of deals he’s doing, I don’t know — that’s $90K+ a month). But she lets the point linger as the camera pans over yet another gated community. —R.T.