Born and raised in the Charlotte, North Carolina area, Jonathan Tucker left his government job three years ago to begin his real estate career back in his home state. Powered by his drive to help others, his favorite part of the job has been making his clients (especially first time buyers) feel empowered. “My main goal is to help people who are younger to get into real estate as a way to not only just buy their first home, but to build wealth and to build a legacy for their family,” explains Jonathan. And Charlotte is a great place to do it.
The Charlotte area is booming and with a booming real estate market comes low housing inventory and rising home prices. Last year, for example, marked Charlotte’s eighth consecutive year of home price gains and the supply for homes for sale has dropped to its lowest level in 17 years, according to Norada Real Estate Investments.
A balanced real estate inventory is usually six months of inventory. The Canopy Realtor Association reported that there were only roughly 18 days worth of housing inventory in Charlotte in February—a total of 2,958 homes for sale in the Charlotte region.
And those homes are more expensive than ever. The median sales price increased 11.7% from last year, to $293,495, pricing some prospective buyers out of the housing market. “It can get discouraging [for buyers],” says Jonathan.
However, it hasn’t slowed him or his clients down.
One way Jonathan likes to make his clients feel empowered is by breaking the conventional stereotype of the forever home.
“We're not like our parents where we buy a house and live there forever or we have a job and we have that same job forever,” he adds. “We're different. We're a different generation and we just need to be up-to-date on how to build a legacy for your family and how to grow your wealth from a real estate point of view.”
Real estate has long been cited as one of the best potential long-term investments and it’s become especially popular for younger generations, according to a 2020 Bankrate survey. However, not everyone is convinced. “Breaking that stereotype and that mode of thinking has been difficult, but most people are open to it,” claims Jonathan.
His biggest tip? Don’t be afraid to ask questions and remember to stay open minded. “You can't build yourself or build your own wealth without asking questions or being afraid to ask questions,” he says. “I know money is scary to some people, but it can be a tool that you can use to better your life and the life of your family.” With clients in the right mindset, Jonathan just needs the right tools.
Jonathan’s go-to tool for getting his clients’ foot in the door has been making all-cash offers. We know it sounds (maybe) impossible for a first time buyer, but it’s not with RibbonCash Offers. Using Ribbon, Jonathan is able to turn any client’s offer into all cash, and it’s even stronger than traditional cash offers because the appraisal and home sale contingency is waived, and while the deal is guaranteed to close once the inspection period ends. Once the home is secured and clients move in and set up their new home, they can finish up financing.
Recently, Jonathan helped a client, who had been in the process of trying to buy a house for several years, win in a multiple offer situation using Ribbon’s backing. “We won the offer without going $20,000 over the list price, but it was still within the value of the house,” he says. “They got the house at a deal in this market where that's unheard of for a buyer.” A total win.
Before using RibbonCash Offers, Jonathan had clients put strong offers in on over a dozen properties—often over listing price and with appraisal contingencies—which fell through due to fierce competition. But now things have changed.
“My goal is to empower my clients and my buyers. And you know, Ribbon has that same goal,” says Jonathan. “Everyone's going cash. We have to use the tools that we have to make sure that our clients are getting into the house that they want. And that's the (best and) only tool that I know, besides having a stack of cash, to get into a property.”