How Does Corporate Success Impact the Housing Market

by Bonnie Rotundo 01/26/2020


 Photo by Gerd Altmann via Pixabay

Booming housing markets are obviously bad news for buyers, especially if they're afraid they're about to buy smack dab in the middle of a bubble. However, there are also reasons why residents and even home sellers should fear housing booms as well. When a city or town undergoes rapid growth due to a major corporation striking it rich, it isn't all champagne and caviar for the everyday people who live in the neighborhoods. 

1. Owners Move Up Their Sale Dates 

Owners who want to capitalize on the housing boom face two major problems. The first is that they likely weren't ready to move, and the second is the question of where they should move to. Because housing booms extend far past where the corporation has set up shop, it's not as though owners can purchase a property in the next town over. To reap the profits of their sale price, they may need to move clear out of state! Add that to the added stress of an early sale date, and it's easy to see why sellers aren't always making out like bandits. 

2. Residents Face Increased Costs of Living 

When housing prices go up, so too does everything else. From insurance to groceries to entertainment, those with a steady income find that it doesn't stretch as far as it used to. So unless residents are planning to move to a cheaper area or they're about to get a serious raise, they're essentially left in a worse position. This undisputed fact has put residents in a tenuous position, especially if they were trying to save. 

3. Neighborhoods Lose Their Appeal 

Unfortunately, it's usually the same developers who are buying up property during housing booms. These owners are primarily concerned with how to squeeze the most money from the well-paid employees at the nearest corporation. And while this is understandable, it tends to whitewash neighborhoods so everything starts to look the same. Even the landowners who try to brand themselves as funky to appear hip the younger crowd tend to water it down to the point where there's little personality or charm to what were once thriving and close-knit communities. 

There's no doubt that corporations can bring unprecedented success to neighborhoods, but they certainly don't help everyone. The real value of a city or town doesn't come from CEOs, but rather from the people who work to build the community through its patchwork efforts. That kind of appeal can take years before it's noticed and appreciated and that's part of what attracts big business in the first place. 

About the Author
Author

Bonnie Rotundo

ABOUT ME  

I was born and brought up in Northern New York State, near the Thousand Islands region. I graduated from the State University of New York at Potsdam with a BA in English Literature, moving to Brunswick County in 1979.

From 1980 through 1999, I owned and operated The Italian Fisherman Restaurant, a well-known waterfront eatery in Sunset Beach, NC. After leaving the foodservice business, I knew that I wanted to embark on a career that would keep me in a people-oriented, service-driven industry. I happily choose real estate, and that’s what I’ve been doing since 2000!

Having been a Brunswick County resident for so many years, I have witnessed the tremendous growth and ensuing change the area has undergone. I know the geography and landscape well– it’s no surprise that so many have seen the natural beauty, temperate climate, and enjoyable lifestyle this little corner of the Carolinas affords, and have decided to make it home, too!

My mission is to assist those seeking to buy or sell residential property locally!

Several key points comprise my business philosophy:

- Service is paramount! Put the client first and the rest follows.

- Communication is essential! My approach is more consultative in style: my job is to provide the necessary information, advice, and updates so that buyers and sellers can make informed decisions through-out the process.

-Dedication to excellence is vital! I have earned several professional designations in order to keep abreast of the latest real estate trends that will affect my client’s interests, a significant investment of time and effort.

-Honest, ethical conduct is crucial! The “golden rule” rules, and then some!

In business, I concentrate on forming long-term relationships, and indeed, many people have become not only clients for life, but good friends as well!

My goal, simply put, is to Address all your real estate needs!

CREDENTIALS & AWARDS

Licensed Broker/Associate in both North Carolina & South Carolina

Member of the Local, State, and National chapters of the Association of REALTORS®

Member of two Multiple Listing Services(BCAR & CCAR) in two states

Multi-million dollar producer since 2001

Sloane Realty Company Wide Top Producer 2014 & 2015 (#2 in 2016-2018)

Sloane Realty Ocean Isle Beach Office Top Producer 2014

Coldwell Banker International Sterling Society 2014 & 2015

Coldwell Banker International Diamond Society 2016, 2017, & 2018

Accredited Buyer Representative® (ABR)  

Seniors Real Estate Specialist® (SRES®)  

Short Sales and Foreclosure Resource® (SFR)  

Recreation and Resort Specialist (RRS)

Certified Renewed Rooms Staging Professional (CRSP)

Strategic Pricing Specialist® (SPS)

Coldwell Banker Global Luxury Agent