U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-20-2007, 09:08 AM
 
Location: between here and there
1,030 posts, read 2,765,945 times
Reputation: 935

Advertisements

Quote:
Originally Posted by lovesMountains View Post
The point is, they are not bad in Charlotte right now.
Let's compare the housing market to an earthquake: there's the epicenter and then the aftershocks. Charlotte will most likely be an aftershcok market when the main eruption filters down to it through the markets that are going to take the hit, mainly the grossly overpriced homes and areas of the country that are in an economic decline where homeowners took mortgages that were based on adjustabel rates etc. It won't be a direct hit but strong markets will still feel it, that's just plain economics.

Consider yourselves luckier but not insulated.

Last edited by Fallingwater79; 08-20-2007 at 09:20 AM..
Reply With Quote Quick reply to this message

 
Old 08-20-2007, 09:12 AM
 
Location: Up above the world so high!
45,270 posts, read 88,286,039 times
Reputation: 39844
Quote:
Originally Posted by smalltownusa View Post
Let's compare the housing market to an earthquake: there's the epicenter and then the aftershocks. Charlotte will most likely be an aftershcok market when the main eruption filters down to it through the markets that are going to take the hit, mainly the grossly overpriced homes and the areas of the country that are in an economic decline. It won't be a direct hit but storng markets will still feel it. Consider yourselves luckier but not insulated.....
I would agree that aftershocks are going to be a problem. My point is, the market in Charlotte is fine right now.
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:13 AM
 
Location: Wantagh to Waxhaw
536 posts, read 1,539,862 times
Reputation: 164
Thumbs up It's all good!

Quote:
Originally Posted by kmway View Post
As always, lovesmountains hit it on the head. If a home is under say, $225k, that bad boy is sold in no time. Seller's market for sure.

A friend of mine and I were talking about the massive over-building in the 350k+ range and how that was a HUGE mistake for developers. One looking at this board can see that. There are a lot of families who post here looking for nice neighborhoods $250k and under yet builders built all these crazy neighborhoods with huge homes. That part of the market has, and will continue to, cool a great deal.
Good point kmway and LM.

I feel blessed and lucky (maybe even a tad smart). If I was still up in L.I., I would not be living where I live now. I would need to be looking at the under 300k range. Primarly because of the market downturn up north.

I think Gator has some excellent points too. Builders need to build at those cheaper price points.

The good news out of all this for Charlotte, is people will still be coming here from CA, FL, NY, NJ, no matter what price they sell there house for, because the taxes SUCK every where else, and that is what I could not afford for the rest of my life!!! Now of course I expect taxes to go up here, but I can manage it.
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:18 AM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,637,402 times
Reputation: 3689
if someone would remember to revisit this thread in 6 mos. I'd be curious to see where we stand...


vg discussion!
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:27 AM
 
Location: between here and there
1,030 posts, read 2,765,945 times
Reputation: 935
Quote:
Originally Posted by lovesMountains View Post
I would agree that aftershocks are going to be a problem. My point is, the market in Charlotte is fine right now.
For you to agree is suffice
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:29 AM
 
68 posts, read 177,724 times
Reputation: 31
I have been trying to sell my over $500K house in New York since May of 2006, and have just taken a second $50K reduction in the price. While I am desperate to get out of here and move to the Charlotte area,the time has given me the advantage of watching houses in the area I am looking to move to come down in price also. Never since I first became interested in the Charlotte real estate market 3 years ago, have I seen houses (also in the $500K+ range) sit on the market and show price reductions. This has to be a reflection of the reality of the market, even in an area that has not been as greatly affected as the rest of the country.
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:31 AM
 
Location: Up above the world so high!
45,270 posts, read 88,286,039 times
Reputation: 39844
Quote:
Originally Posted by smalltownusa View Post
For you to agree is suffice
You made me laugh outloud!

It's all good smalltown
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:32 AM
 
Location: Up above the world so high!
45,270 posts, read 88,286,039 times
Reputation: 39844
Quote:
Originally Posted by Keith "Baby-Face" Lutz View Post
Good point kmway and LM.

I feel blessed and lucky (maybe even a tad smart). If I was still up in L.I., I would not be living where I live now. I would need to be looking at the under 300k range. Primarly because of the market downturn up north.

I think Gator has some excellent points too. Builders need to build at those cheaper price points.

The good news out of all this for Charlotte, is people will still be coming here from CA, FL, NY, NJ, no matter what price they sell there house for, because the taxes SUCK every where else, and that is what I could not afford for the rest of my life!!! Now of course I expect taxes to go up here, but I can manage it.

Great summary

Okay, let's all move along now, nothing else to see here
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:35 AM
 
Location: between here and there
1,030 posts, read 2,765,945 times
Reputation: 935
Quote:
Originally Posted by CouponJack View Post
if someone would remember to revisit this thread in 6 mos. I'd be curious to see where we stand...


vg discussion!
Wouldn't that be interesting! I'm going to bookmark it now.

I think our combined speculation has a lot more merit than what the present admin. is feeding the public (oh no, did I just introduce politics ) They have enough problems on their plate; the last thing they want is to exit the WH with a crashing housing market and the beginnings of the R word lurking in the shadows....but if you looked at the housing market, gas prices (which are is now responsible for everyday necessities to start rising: gone grocery shopping lately?), and what the world economy has done over the last ten years, a crash was bound to happen .....what goes up must come down. That's my armchair economics for you......

Last edited by Fallingwater79; 08-20-2007 at 10:55 AM..
Reply With Quote Quick reply to this message
 
Old 08-20-2007, 09:42 AM
 
Location: Wantagh to Waxhaw
536 posts, read 1,539,862 times
Reputation: 164
Quote:
Originally Posted by mommytwingle View Post
While I am desperate to get out of here and move to the Charlotte area,the time has given me the advantage of watching houses in the area I am looking to move to come down in price also. Never since I first became interested in the Charlotte real estate market 3 years ago, have I seen houses (also in the $500K+ range) sit on the market and show price reductions. This has to be a reflection of the reality of the market, even in an area that has not been as greatly affected as the rest of the country.

I am sometimes a little thick. (and porky!).

I must have read this 5 times, are you saying they are NOW coming down in CLT? The "Never" is what is throwing me?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 09:43 AM.

2005-2019, Advameg, Inc. | Please obey Forum Rules | Terms of Use and Privacy Policy

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top