North Carolina is one of the hottest markets in the United States. With historically low inventory (only two months available), an increase in out-of-state investors buying up properties, and interest rates rising three percent, it’s difficult for buyers who can’t pay all cash.
Augusta Meyer of Call It Closed International Realty knows this firsthand. Augusta is a real estate agent based in North Carolina—licensed in both North and South Carolina. For almost a decade she’s focused mainly on residential properties with sellers, buyers, and investors. She’s also a Certified Military Residential Specialist, which means she’s certified to work with military families and VA loans.
Recently, Augusta worked to help a couple with four young children. They knew they wanted to move to give their family more space, but they had a mortgage, so buying and selling at the exact right time was crucial. Most importantly, the family didn’t want to move into just any house; they wanted the home the wife’s family had lost due to foreclosure in 2007.
This home, full brick and around 2,900 square feet, was built by her family. She remembers her parents designing the house when she was six or seven; they had met with an architect in their kitchen. Her best friend’s mother lives near the house—she can see the back of the house from their backyard. It’s a home that holds great sentimental value.
In June 2022, Augusta’s future client heard that the house was going to be put on the market from friends who still lived in the neighborhood. The selling family had already purchased a new home in North Carolina, and for two years this one was nearly vacant.
As a potential buyer, she wanted the house and had done quite a bit of work. She had gotten the seller's contact info, called him, and met the listing agent—she even went over to the house to look at it before getting an agent. She wanted to confirm her desire to buy the house and that the property was in good condition. The current house of Augusta’s future client was on the smaller side, so this one was the perfect move-up match. However, timing was crucial because they had a mortgage.
Augusta’s clients were worried their offer would not be taken seriously because they had a house to sell before they could purchase. It was especially nerve-wracking because there was another offer on the table. Luckily, Augusta had worked with their preferred lender several times before, and he recommended using Ribbon while he worked on getting them approved for a conventional loan with a five percent downpayment.
Since their house was going under contract, they didn't have to use Ribbon Reserve, and they were able to close with their own financing. However, Augusta still feels strongly that Ribbon helped them secure the house. Without Ribbon, their offer never would have been accepted in a multiple-offer situation since buyers in North Carolina have to disclose in an offer whether they have to sell a house in order to purchase another one or not. In fact, their current house went back on the market multiple times—which would have caused a domino effect of deals falling through.
Their current house is under contract again, so the closing table is not far away. But most importantly, the family is happily living in their new home. It’s hard to move with young kids, and Ribbon’s ability for them to do so right away really helped them eliminate that stress. They’re very thankful.
Whether Augusta’s clients are buying, selling, or investing, she always strives to serve them to the best of her ability as she did here. When inventory is this low, she knows it can feel discouraging. It’s more important than ever to trust in your agent and yourself and know that it will all work out in the end.
Augusta tells her clients to think about it like this, some people move because they want to and some move because they have to. With such a high mortgage rate, those who want to move are waiting. Those who have to move are moving. Eventually, both groups will participate in the market again. Augusta believes rates will likely go down or stabilize in the next two years. The market is constantly changing, and she is keeping an eye on the trends. Augusta will always do what she can to help her buyers secure a home they will love and help her sellers receive top dollar for the home they are selling.
We’re more than just a tour guide. We’re an unbiased, objective eye who understands the ever-changing local market and a process that can be complicated and, at times, frustrating. If we work together, we’ll find you the perfect home. Also ask questions, we’re happy to share our knowledge—from behind-the-scenes information on the school district to recommendations for contractors. We’re on your team.