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Even bolstered by the tax credit, Charlotte metro was -2.2% YoY for April... I'm actually very surprised by this and I think it's a serious concern when government intervention isn't enough to trend the area up YoY.
Yeah, when people, the bubble heads in the media, and the politicians, talk about the "recovery" it makes me laugh. Recover to "what" exactly. Do people honestly think their 1/3 to 1/2 million dollar homes are ever going to sell for that again? There are no meaningful jobs, the government is creating so much debt to maintain this dismal status quo that it is frightening, and the big banks are still robbing whats left of the economy blind and paying out huge bonuses. Nothing has been fixed.
If you bought a house in the last 5-7 years and still own it all I can say is I'm sorry, and have a plan. If you were smart you bought close in Charlotte and sacrificed sq/footage-status for quality. If you are thinking of buying a house, stop and do some more thinking. Go get some education that doesn't come from a real estate agent, a banker, or your friend who has already bought sold themselves off in exchange for the badly built square footage house located in a faceless subdivision.
BTW, April was supposed to have been a good month.
Yeah, when people, the bubble heads in the media, and the politicians, talk about the "recovery" it makes me laugh. Recover to "what" exactly. Do people honestly think their 1/3 to 1/2 million dollar homes are ever going to sell for that again? There are no meaningful jobs, the government is creating so much debt to maintain this dismal status quo that it is frightening, and the big banks are still robbing whats left of the economy blind and paying out huge bonuses. Nothing has been fixed.
If you bought a house in the last 5-7 years and still own it all I can say is I'm sorry, and have a plan. If you were smart you bought close in Charlotte and sacrificed sq/footage-status for quality. If you are thinking of buying a house, stop and do some more thinking. Go get some education that doesn't come from a real estate agent, a banker, or your friend who has already bought sold themselves off in exchange for the badly built square footage house located in a faceless subdivision.
BTW, April was supposed to have been a good month.
Why is it that all home not close in that are larger than those close in are badly built? I've seen plenty of houses built in the 1930's and up that were not built so well. Levels and squares get a good work out in them.
Life and character does exist outside of "close in".
1/3 of a million is $333k. I don't think its doom and gloom for people that bought a $333k house. I agree $500k+ is a really tough market to try and sell in. My wife and I bought a $200k house in the Ballantyne area 6-7 years ago and when its time for us to buy something with a little more space, we'll probably be looking in that $333k range.
Why is it that all home not close in that are larger than those close in are badly built? I've seen plenty of houses built in the 1930's and up that were not built so well. Levels and squares get a good work out in them.
Life and character does exist outside of "close in".
I think a lot of folks will disagree with you on that, but only if they have actually lived in an older home that was built to higher standards - and with better quality materials - than the "sweetheart" houses that were often quickly built in outlying areas.
Perhaps you haven't seen the workmanship (during construction) on the majority of houses built outside Charlotte proper in the last 6 or so years. I have, and the workmanship was often disturbing to me as a potential buyer.
However, this is true all over the USA -- as these same builders have permeated most metros throughout the country.
I have lived in a new neighborhood and I have lived in older, established neighborhoods. The new subdivisions offered additional amenities that the older neighborhoods didn't, i.e. community pool, clubhouse, nice greenways and sidewalks throughout. The older neighborhoods had better built homes, from the actual construction materials to the building standards, and larger lots.
It just depends on what "lifestyle" means to the individual buyer as to which is "better" in the longrun.
I would add: for young families, such things as school districts are gonna be of high importance, too. If the new subdivision is located in the school district the family prefers, then that alone may be the determining factor of where a family decides to settle. Then, you consider commuting distance, traffic patterns . . . it is not as simple as saying "newer homes are not always built to high standards." Also, older homes often need updating, which can include big ticket items such as HVAC. There is no one "right" answer for everyone.
Why is it that all home not close in that are larger than those close in are badly built? I've seen plenty of houses built in the 1930's and up that were not built so well. Levels and squares get a good work out in them.
Life and character does exist outside of "close in".
If all you needed was a level and a square on 80 years of settling then you are doing pretty good.
Last edited by palmetto75; 07-01-2010 at 09:28 AM..
1/3 of a million is $333k. I don't think its doom and gloom for people that bought a $333k house. I agree $500k+ is a really tough market to try and sell in. My wife and I bought a $200k house in the Ballantyne area 6-7 years ago and when its time for us to buy something with a little more space, we'll probably be looking in that $333k range.
These are the results despite Bush & Obama stimulus/bailouts/etc. in the trillions of dollars (all borrowed). We can't borrow our way back to prosperity. It's probably going to get worse.
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