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 03-25-2008, 09:13 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,304,760 times
Reputation: 1008

Advertisements

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 (http://www.charlotte.com/209/story/551746.html - broken link)
Reply With Quote Quick reply to this message

 
Old 03-25-2008, 09:18 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,304,760 times
Reputation: 1008
here's the story on Yahoo

US Home Prices Drop 11.4 Pct in January: Financial News - Yahoo! Finance (broken link)
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 09:24 AM
 
Location: Wouldn't you like to know?
9,114 posts, read 15,620,353 times
Reputation: 3689
Quote:
Originally Posted by renriq02 View Post
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 (http://www.charlotte.com/209/story/551746.html - broken link)

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.
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 09:38 AM
 
Location: CLT native
4,280 posts, read 10,021,194 times
Reputation: 2269
I just hope everyone moving here for the 'low cost of living' votes in such a way to sustain it...

Quote:
Originally Posted by CouponJack View Post
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.
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 09:44 AM
 
Location: Noth Caccalacca
5,542 posts, read 6,650,249 times
Reputation: 4823
Quote:
Originally Posted by renriq02 View Post
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 (http://www.charlotte.com/209/story/551746.html - broken link)
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!
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 09:46 AM
 
Location: Up above the world so high!
45,270 posts, read 88,166,245 times
Reputation: 39838
Quote:
Originally Posted by CouponJack View Post
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
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 09:52 AM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,304,760 times
Reputation: 1008
if charlotte goes down then the whole country will have a more dramatic effect.

Quote:
Originally Posted by TheEmissary View Post
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!
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 10:10 AM
 
1,253 posts, read 4,153,601 times
Reputation: 622
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.
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 10:20 AM
 
Location: State of Being
35,885 posts, read 66,914,083 times
Reputation: 22369
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.
Reply With Quote Quick reply to this message
 
Old 03-25-2008, 10:25 AM
 
755 posts, read 2,239,405 times
Reputation: 321
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.
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.

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