Charlotte the only major city in US with rising home prices (transplants, for sale)

[renriq02]

This is really great for the residents living here, and moving here.

Homes are still well undervalued, and a lot of ppl are coming here with cash!

My parents moved from Miami, FL, and was able to purchase their home with cash. They moved into a MUCH larger home with a lot that was 3-4times bigger.

Charlotte Observer | 03/25/2008 | Charlotte alone in home-price increases

[renriq02]

here's the story on Yahoo

US Home Prices Drop 11.4 Pct in January: Financial News - Yahoo! Finance (broken link)

[CouponJack]

Originally Posted by renriq02

This is really great for the residents living here, and moving here.

Homes are still well undervalued, and a lot of ppl are coming here with cash!

My parents moved from Miami, FL, and was able to purchase their home with cash. They moved into a MUCH larger home with a lot that was 3-4times bigger.

Charlotte Observer | 03/25/2008 | Charlotte alone in home-price increases

Charlotte has always been a haven for transplants who come here for lower taxes, better weather, nicer people and especially much cheaper taxes/real estate.

However, if you ask the overwhelming majority of people who are currently selling their home in this area, they will tell you things are not "great", they are downright lousy. Inventory is way up, homes are sitting much longer. Prices have been reduced and many people are not seeing the "gains" that is advsertised here.

Builders right now are salivating for qualified buyers w/no contingencies. If you are one of those people, you can basically name your price.

[mullman]

I just hope everyone moving here for the 'low cost of living' votes in such a way to sustain it...

Originally Posted by CouponJack

Charlotte has always been a haven for transplants who come here for lower taxes, better weather, nicer people and especially much cheaper taxes/real estate.

[TheEmissary]

Originally Posted by renriq02

This is really great for the residents living here, and moving here.

Homes are still well undervalued, and a lot of ppl are coming here with cash!

My parents moved from Miami, FL, and was able to purchase their home with cash. They moved into a MUCH larger home with a lot that was 3-4times bigger.

Charlotte Observer | 03/25/2008 | Charlotte alone in home-price increases

reniq02 - That headline might be true for another month or so, but the Charlotte market has not yet felt the full effects of the housing slowdown. I suspect that by May, the currently seen price increase will have evaporated. But for people like your parents, who have been able to sell their home, it's a no-brainer to move here!

[lovesMountains]

Originally Posted by CouponJack

Charlotte has always been a haven for transplants who come here for lower taxes, better weather, nicer people and especially much cheaper taxes/real estate.

However, if you ask the overwhelming majority of people who are currently selling their home in this area, they will tell you things are not "great", they are downright lousy. Inventory is way up, homes are sitting much longer. Prices have been reduced and many people are not seeing the "gains" that is advsertised here.

Builders right now are salivating for qualified buyers w/no contingencies. If you are one of those people, you can basically name your price.

Again, for me, it is worth pointing out that there is a BIG difference between builder inventories and existing homes in established neighborhoods for sale.

Therefore, I do not agree with you that the "overwhelming majority of people who are currently selling their home would tell you that things are not great". I know several people who have recently sold and are currently selling their homes and they are quite satisfied with how things are going. You just simply cannot compare the problems builders are having with the regular homeowners who are selling, when they live in established desirable neighborhoods

[renriq02]

if charlotte goes down then the whole country will have a more dramatic effect.

Originally Posted by TheEmissary

reniq02 - That headline might be true for another month or so, but the Charlotte market has not yet felt the full effects of the housing slowdown. I suspect that by May, the currently seen price increase will have evaporated. But for people like your parents, who have been able to sell their home, it's a no-brainer to move here!

[FrankTheTank2]

Charlotte just lags the rest of the country by a few months and historical data reflects that. Just give it time and we will also be declining.

[anifani821]

Well, I will continue to maintain . . . the wild card in the CLT market is . . . people are still moving here!!!!

Prices may drop some . . . yes, loans are harder to get (everywhere) . . . yes, we have inventory . . . but - PEOPLE ARE COMING HERE!!!

As long as people keep moving here . . . those houses will get sold.

[Weedydidi]

It's important to remember that Charlotte never saw the huge jump in housing prices that a lot of other cities saw. There's less of an adjustment for the market to make.