Wednesday, June 04, 2008

DHL Leaving Town!

Rumors are flying that the overnight freight company DHL may be leaving Wilmington. Phone calls are coming into our office daily wanting to know how this may affect the future real estate market. Here's my thoughts: If DHL leaves our area, a significant down pressure on home values will be created. My counsel is that if you have been planning to make move, now will probably be better to sell than later. With approx. 6000 employees facing job loss, approx. 2500 of which live in Highland County, it is unknown at this time how many homes will be entering the market to be sold. Inventory levels will most likely significantly increase forcing prices downward as families compete for a smaller pool of buyers. If you do not need to sell and plan on staying in the area for many years to come, don't worry about DHL. If my house goes up in value, so does yours, if your house goes down in value, so does mine. Whatever happens, we're all in it together! This is home!

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