Don't buy in charlotte! (Wesley Chapel: days on market, 2009, home)

[wsobchak]

Originally Posted by Stripes17

I don't mind people pointing out our deficiencies here in the Queen City area, but I just expect to see a realistic and logical presentation of the issues. In this case, IMHO, the OP used a little creativity to portray a doom and gloom picture of this area. Is that fair for someone who may be interested in coming here? No.

I'd feel the same way if a Charlotte forum regular did the same to another geographic area. C-D is a pretty cool aggregate of different opinions and thoughts. But, the bottom line is to be constructive, not reckless.

Is it fair to lie about the reality of what a hellish place Charlotte is, causing someone to relocate here tragically, only to be astonished by the crime, traffic, politically corrupt government, total lack of urban planning, crass and vulgar architecture, horrible air and water quality, etc, etc. etc.?


I guess it is fair if you get a commission on someone else's misery.


I've lived in Charlotte for three years. I don't make money on it if people move here. My dream is to escape from this place someday.


How come the people "in the business" never get called on what they write? "Charlotte? Why there is NO crime in Charlotte". Really?

The game is over. And you will never move those McMansion ghost towns, no matter how much you invent a false reality for naive outsiders.

[anifani821]

So where did you buy a house, Wob, and why are you so angry? Didn't do your homework?

[bandibadji]

Originally Posted by massageman

Is Charlotte a dying city, in denial of the truth? Prospective home buyers- DO NOT BUY A HOUSE HERE, PRICES WILL DROP!!!!

Charlotte touting itself as a major banking center seems kind of funny now, as it may totally lose Wachovia. People that think Chase will keep or relocate a single person here are kidding themselves. They will buy the company's accounts and debts and say good bye to Charlotte. They do not need human resources, accounting, investment advisors, analysts, etc in Charlotte. Thousands of people will lose their jobs, only the branch employees will be needed. There will be hundreds of extra homes for sale, as bankers return to NY.

Charlotte could soon have Wachovia's building for sale, anybody know of a buyer that would want it in a sinking economy, in a smallish city with traffic problems? There will be thousands of former bankers looking for jobs soon, there already is, actually. They will be contracting their spending, drying up jobs at car dealers, retailers and restaurants.

Charlotte's housing market is already in freefall. Look at the prices of Hollister or Ardrey Chase or any of these partially built, empty areas of red clay, the builders know what's really happening here, prices are down 20% or more. We don't see it reflected more widely in data because NOTHING is selling. Homes are sitting on the market and their listings are expiring, so prices aren't dropping. Wait until more people have to sell, look out below!

There are thousands of homes for sale in the area from 200-500. Remember, we are back to normalized lending standards and let's suppose a couple wants to buy a house for 360k. They have 60k to put down, not bad. To qualify for a 300k mortgage, they will need to have an income of 3X or 100k a year now. Are there that many jobs that pay 100k for a single earner in Charlotte? With banking collapsing and other industries slowing, will this couple even be able to find two jobs, where they each earn 50k? When prices drop and drop, then maybe the 360k house will be 200k, the way it was in the late 90's. Only then, will the couple be able to afford it in the new Charlotte economy. Charlotte has been historically cheap and will return to that norm pretty soon.

Charlotte's quality of life has the potential to be amazing, this could be the best city in the country, between the beautiful weather and land. People still want to move here, based upon posts on here and word of mouth. People are also leaving and will be leaving in droves, though. The city planning is a joke with clogged roads and no water/sewer capacity. The bumpkins in Union County, a suburb of Charlotte, have actually said they have no idea how many water permits they'd issued. LOL!!!! Can you imagine a place where the officials have no idea how many permits they've issued?

Somehow, cities that are 3, 4, 5 times larger than Charlotte manage to get people from place to place and have water cheaply available. Charlotte seems baffled by these concepts. Charlotte's answer is to open a couple of shoulders on a couple of roads? How about building about six more lanes, which is what is needed? On 485, they aren't even extending the shoulder lane into Union County, which is already a traffic nightmare! Let's see, leave 485 as two lanes and watch traffic get worse, as all those new homes are eventually filled or build 485 into 6 lanes in each direction to promote growth for both the city and the suburbs, hmmm, what should we do? Yes, we'll leave it as two lanes, lol.

Charlotte doesn't understand that if people water their lawns, it creates business. The leaders here act like it's a desert and cheap water is a bad thing! Homeowners have to mow more often, if their lawn isn't dead. Some hire landscapers, who buy equipment and gas. When buying gas, they stop for lunch, helping more businesses. They increase income taxes and sales taxes. With watering limited, all of that extra business dries up, too. Homeowners that spend $100 a month on water would have more disposable income with cheap water, creating growth in other areas.

Charlotte doesn't understand that if people can easily get to different parts of the city, they are more likely to shop or explore the region, creating more growth overall. If you know you will be stuck in traffic, then you are less likely to try out different stores or activities in other parts of the area. Especially with gas at 4.10. Similarly, employers suffer here, as people may not be willing to work at one job vs another, based on the commute.

Charlotte has peaked and is in decline. Home buyers should offer much less than asking price, eventually someone will take the offer, as they do in other markets. I'd recommend waiting for the s to really hit the fan, though. The decline will happen very quickly, as the Fed obviously thinks Wachovia is not to big to fail. When things stabilize again in a few years, hopefully area leaders will do things to promote economic growth and not depend on being a banking center or newcomers ready to lose more equity. Obviously, some areas, like Myers Park, will not decline as much, as there's no land and a quick commute. Some of the far flung areas are going to get crushed, as there are years of inventory available and gas prices/traffic are making commuting more painful than ever.

Your foresight and evaluation has been most helpful Maybe you should visit some other cities so you can see that Charlotte is in the same boat as many others. Cities have their ups and downs. Obviously your visions of Charlotte becomeing a utopia will be on hold for a while. I think that you are probably smart enough to know that you are free to leave at any time. I am sure that some city would be really grateful to have you as a city planner.LOL!

[bandibadji]

As I mentioned before, I don't think that Americans are the smartest people on earth. To me, London is the greatest city on Earth despite some differences. Many Americans love it there. I lived there for many years. While I lived there, I listened to other Americans complain about the lousy houses, the poor plumbing, the lousy heating, the narrow roads, the lazy Brits, the hard to understand accents, the lack of deodorant, the lack of "American" restaurants (like the northerners whining for the food back home), the crowded tubes, the crowded buses, the rain, the traffic, the cost of transportation, the lousy television, the taxes, the Arabs, the VAT, the poor medical services, and on and on. I even heard a girl from Pittsburgh compalin about all of the old places in London. I sarcastically suggested that they should tear down the Houses of Parliment and build some cool new stuff. Give it up people!!! If you don't like a place, get the hell out and stop pestering the locals. Stop being "Ugly Americans". GO HOME AND SHUT UP IF YOU DONT LIKE IT HERE!! The local people were here first. It is you that needs to assimilate. Locals don't need to change for you. It you like it here, god bless you and welcome. Have a nice day Geeeez, I'm glad that it is Tuesday beer night.

[Palmetto Heel]

Originally Posted by bandibadji

If you don't like a place, get the hell out and stop pestering the locals. Stop being "Ugly Americans". GO HOME AND SHUT UP IF YOU DONT LIKE IT HERE!! The local people were here first. It is you that needs to assimilate. Locals don't need to change for you. It you like it here, god bless you and welcome. Have a nice day Geeeez, I'm glad that it is Tuesday beer night.

This is a Hall of Fame post.

[anifani821]

I am not in real estate and I don't think I try to sugarcoat Charlotte so others will come here. Basically, I don't care whether they come or not, especially now w/ the job market in a mess.

However, I have met some wonderful people who have moved here and am so happy they came . . .my life is fuller b/c we crossed paths.

When people get relocated w/ a job - or find a job and move here - they need to know what to expect, where to live, find good schools - and I am glad to provide what info I can that might help them.

I get aggravated when people move here and then spend all their time criticizing the South, the natives, the culture, whatever. But I have not experienced that very often . . . so I don't think most newcomers have that type of attitude.

Bandi is a native, wh/ most people seem to forget. I think he has great insight into CLT as he has lived in other countries. I thought what he said was quite appropriate.

This isn't utopia - but it isn't some hell hole as Wob indicated.

[JanuaryGirl]

[quote=wsobchak;6309341]Is it fair to lie about the reality of what a hellish place Charlotte is, causing someone to relocate here tragically, only to be astonished by the crime, traffic, politically corrupt government, total lack of urban planning, crass and vulgar architecture, horrible air and water quality, etc, etc. etc.?


I guess it is fair if you get a commission on someone else's misery.


I've lived in Charlotte for three years. I don't make money on it if people move here. My dream is to escape from this place someday.

The last time I wrote something like this, I was banned for being a troll.

How come the people "in the business" never get called on what they write? "Charlotte? Why there is NO crime in Charlotte". Really?


quote]

... I don't have to scrape ice off my windshield every morning. My neighbors had the audacity to introduce themselves and invite us over for Thanksgiving. I am suffering under the weight of my mortgage that is hundreds less a month than my old rent for a one bedroom. It is very tiring having to choose which mountain area to go hiking in on the weekends.




Seriously though, I know this place isn't perfect but in my experience the people that dream of "escaping" someplace are really just trying to escape their own bad attitudes. Other than some of the wing-nuts who hate all "transplants" and the other wing-nuts who act like Charlotte is Flint, Michigan and in the dumps, this place is pretty nice.

[jstevens44]

If you show me a city, I'll show you a handfull of people who hate it there, and a handfull of people who love it there. Not every city works for everyone. Also, there are people who just see the good in things, and there are people who just see the bad. Everyone has an opinion, and they often conflict with other people's opinions. Such is life.

[bandibadji]

Originally Posted by jstevens44

If you show me a city, I'll show you a handfull of people who hate it there, and a handfull of people who love it there. Not every city works for everyone. Also, there are people who just see the good in things, and there are people who just see the bad. Everyone has an opinion, and they often conflict with other people's opinions. Such is life.

Amen brother (or sister)!

[jstevens44]

Originally Posted by bandibadji

Amen brother (or sister)!

That would be brother.