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)
 
Old 07-18-2008, 03:33 PM
 
17 posts, read 41,485 times
Reputation: 17

Advertisements

Hi everyone forgive me if you feel like you've read this question before but I can't seem to find where it has been asked recently. I am planning to relocate to Charlotte but not until next summer. I am however, already doing my research in terms of schools for my daughter and areas that are nice to live in. I currently live in the DC area. Right now the housing market here is truly a buyers market and we have been effected by the so called "mortgage crisis" homes are in foreclosure at record amounts and things are selling for much cheaper. Is Charlotte being affected by this? Are there more foreclosures there now then there used to be? Are real estate prices in CLT much cheaper now then say 1 year ago? Or are they just taking longer to sell? I am wondering if I need to be in a hurry to purchase something or if homes will still be affordable in Charlotte next year. By affordable I mean getting into a home for less than $200 or even $250. Any thoughts out there?
Reply With Quote Quick reply to this message

 
Old 07-18-2008, 03:42 PM
 
Location: Cornelius
3,662 posts, read 8,674,101 times
Reputation: 797
We have not seen quite the dramatic drop like the rest of the country, but we are certainly affected. We have mostly been affected by people not being able to sell their homes in other parts of the country, thus preventing a move to purchase a home in Charlotte. We do have our share of foreclosures, but we're not swamped.

We are in a buyer's market here as well, I'm not sure what part of the country wouldn't be. Having said that, I don't think you'll need to worry about a price increase anytime soon. I don't think we've seen the bottom yet, and the more the government meddles, the worse it's gonna get.

So I say continue your research and there is no need to be hasty. You'll likely get an even better deal if you wait, imo.
Reply With Quote Quick reply to this message
 
Old 07-18-2008, 07:46 PM
 
1,453 posts, read 4,689,994 times
Reputation: 734
I agree Carolina Guy. People who say the Charlotte market hasn't been affected are being realistic. Prices have dropped and sales are slow. Our feeder markets are drying up.
Reply With Quote Quick reply to this message
 
Old 07-19-2008, 06:33 AM
 
Location: Ayrsley
4,714 posts, read 8,465,121 times
Reputation: 3814
Sydney - we just moved down here from your neck of the woods. I'll second what Carolina Guy said. As Charlotte never had the huge bubble we had in Baltimore / DC, the situation seems to be a lot less extreme down here (of course, that perspective may be entirely relative to where we moved down from).

I don't think you'll have a problem finding something down here for under $250k by next Summer - there are a lot of nice houses you can find under $200 and I don't see the prices here skyrocketing 25% in the next year. Although I don't know if they would drop that much either - the CLT market seems to be on a pretty even keel, and I get the impression it has been for a while.

I have noticed that, in our new neighborhood, several houses have been up for sale for a few months now - but I think that's because the sellers are asking for the same price that someone would spend on brand new construction right down the street.
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
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 03:01 AM.

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

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