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11-14-2007, 09:45 AM
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Senior Member
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Join Date: Dec 2006
Location: Crown Town
1,555 posts, read 1,140,372 times
Reputation: 701
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Charlotte’s Real Estate Market - Residential & Commercial
Here are some great reads published recently on Charlotte…
America's Undervalued Real Estate Markets – Forbes Magazine 11.13.07
America's Undervalued Real Estate Markets - Forbes.com
Demand for Downtown Office Space Is Strong – Wall Street Journal November 14, 2007
Free Article - WSJ.com
And there’s a nice little chart in the middle of this article that shows where the Charlotte metro area ranks in terms of foreclosures, we’re 46th in the country. Not bad considering we’re about the 36th largest metro area in the country…
Foreclosures hit some cities harder than others – MSNBC 11/14/07
Foreclosures hit some cities hard - Mortgage mess - MSNBC.com |
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11-14-2007, 10:32 AM
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Union County Booster Club - Treasurer
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Join Date: Aug 2007
Location: Wouldn't you like to know?
4,239 posts, read 2,910,932 times
Reputation: 1034
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Quote:
Originally Posted by Carolina Blue
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This is from the opening paragraph of the article....
"You're most likely to find undervalued real estate in cities where the real estate boom was driven by sustainable factors like job growth and economic expansion--like Charlotte, N.C. The city has quietly become one of America's leading financial centers: Its banking sector, anchored by Bank of America (nyse: BAC - news - people ) and investment subsidiary Banc of America, has continued to expand even as Wall Street takes its lumps"
That's funny, I guess the author of the article missed the current news about BoA....
News 14 | 24 Hour Local News | TOP STORIES | Bank of America to begin layoffs
I guess doing a little homework was too much to ask here? 
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11-14-2007, 10:48 AM
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Senior Member
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Join Date: Oct 2007
838 posts, read 436,489 times
Reputation: 370
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Jack,
It is for that very reason that I take most real estate news with a grain of salt. Most real estate "experts" know next to nothing about economics and are not qualified to make judgments about future real estate values or even whether or not it's a "goof time to buy."
Good catch.
-Amp
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11-14-2007, 10:50 AM
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Senior Member
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Join Date: Mar 2007
Location: Wantagh to Waxhaw
532 posts, read 485,767 times
Reputation: 146
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Think Positive!
Quote:
Originally Posted by CouponJack
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Things definetly are not as rosy as they have been... IMO things are going down as opposed to up, but it is nice to know that Charlotte is not taking a hit as bad as other places, no?
CJack - your article said, and I quote...
"Officials said the job losses would make up less than 2 percent of the entire workforce with the corporate and investment banking areas taking most of the hit."
2% it could be worse, lets hope it does not get worse!  |
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11-14-2007, 11:56 AM
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Union County Booster Club - Treasurer
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Join Date: Aug 2007
Location: Wouldn't you like to know?
4,239 posts, read 2,910,932 times
Reputation: 1034
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No, things will not be "as bad" as the california's, long island's, & las vegas's, however it still can get much, much, worse around here. I've been saying it for months, inventory is sky high in Charlotte metro, sales are down in double digits. Seems like the local media is finally realizing what's been going on for about a year at least...
News 14 | 24 Hour Local News | HEADLINES | Housing slump finally hits Charlotte
The key will be whether the builders in the area will stop building and let inventory shrink (just like most of the country). If they do that, things can stabilize... |
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11-14-2007, 12:33 PM
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Senior Member
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Join Date: Dec 2006
Location: Crown Town
1,555 posts, read 1,140,372 times
Reputation: 701
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Quote:
Originally Posted by CouponJack
No, things will not be "as bad" as the california's, long island's, & las vegas's, however it still can get much, much, worse around here. I've been saying it for months, inventory is sky high in Charlotte metro, sales are down in double digits. Seems like the local media is finally realizing what's been going on for about a year at least...
News 14 | 24 Hour Local News | HEADLINES | Housing slump finally hits Charlotte
The key will be whether the builders in the area will stop building and let inventory shrink (just like most of the country). If they do that, things can stabilize... |
Here’s a quote from the link you posted …"For buyers right now, it's an excellent time to go out there and get some relatively good deals,"…Seems like this jibes exactly with what the Forbes article was saying; that Charlotte’s market is probably quite “undervalued” at this time, so it would be a good place to “buy”. |
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11-14-2007, 10:11 PM
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Senior Member
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Join Date: Mar 2007
Location: Wantagh to Waxhaw
532 posts, read 485,767 times
Reputation: 146
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Buyers Market
Quote:
Originally Posted by CouponJack
No, things will not be "as bad" as the california's, long island's, & las vegas's, however it still can get much, much, worse around here. I've been saying it for months, inventory is sky high in Charlotte metro, sales are down in double digits. Seems like the local media is finally realizing what's been going on for about a year at least...
News 14 | 24 Hour Local News | HEADLINES | Housing slump finally hits Charlotte
The key will be whether the builders in the area will stop building and let inventory shrink (just like most of the country). If they do that, things can stabilize... |
Builders stop building, what a joke! They should if they are smart. Actually they will probably be forced too, because they might end up "foreclosing" on there homes! |
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