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Old 08-02-2007, 12:52 PM
 
34 posts, read 139,409 times
Reputation: 15

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Just wanted to get some insight on how the market in charlotte will affect my personal investments. I currently own a condo near uptown and am buying a house near southpark. After looking into all the condo's and highrises being built uptown and near southpark I am wondering the affect it will have on my investments. I am hoping to rent out the condo to keep it a little longer since the market is not so hot right now. Will all these new condos uptown hurt me when trying to sell in a year or two? I am a little outside of 277 on Randolph Rd so my demographic might not be the city-slicker, however I want to appeal to everyone. On another note, do you think everyone moving to the city will want to live in a condo forever or will the home be valuable as a resale in 2 years? I have read up on this a lot but thought you all might have some great insight.
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Old 08-02-2007, 01:13 PM
 
Location: Fort Mill, SC (Charlotte 'burb)
4,730 posts, read 17,768,275 times
Reputation: 1008
From what I read recently (and I cannot remember the source) Charlotte's condo/townhome market is actually the best in the country due to the demographics. I do not think you will have a problem selling it, especially if you know some nurses, doctor's, or other hcp's that want to be close to work.
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Old 08-02-2007, 01:22 PM
 
Location: Charlotte
68 posts, read 217,731 times
Reputation: 19
HOLD onto your condo!

The market is too saturated right now to sell. Let the demand catch up... I think if you are planning to hold for two years do so.

Houses around the Southpark area are a great investment. While some argue that the market is established, Barclay Downs, Beverly Woods are amidst a dynamic change. I also suggest holding that house as well.

Just my $.02

Somebody may say otherwise, but this is my personal market knowledge & the knowledge of my colleagues in the real estate biz.
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Old 08-02-2007, 01:25 PM
 
Location: Charlotte
68 posts, read 217,731 times
Reputation: 19
One more thing-

Uptown and South Park are two of the best locations in Charlotte. The outward development will not affect the overall desirability to be in these areas, so the demand will continue to increase in my opinion.

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