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Old 03-09-2007, 10:54 AM
 
2 posts, read 4,417 times
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What is going on in this town - I see a lot of forclosures and new construction. Will Kannopolis still Boom in '07.....
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Old 03-09-2007, 02:25 PM
 
Location: Lake Norman Area
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Originally Posted by briankraus View Post
What is going on in this town - I see a lot of forclosures and new construction. Will Kannopolis still Boom in '07.....
No I dont think Kannapolis will bust rather the opposite. If all else fails, you can always count on the endless shopping centers to keep on building.
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Old 03-09-2007, 02:40 PM
 
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I am beginning to wonder myself. The foreclosures in Charlotte have jumped 10% in the past 2 weeks. Many of the homebuilders are building in anticipation of the spring selling season. They are also beginning many new developments in hopes of driving new interest. Many of the realtors, I now tell me traffic and sales are down big time for the past couple of weeks, which are usually peak times. The latest indicator that I have seen are the signs listing “1% rebate on any new home up to $20,000”. Retail in Charlotte and throughout the country is in poor shape. Practically all of the strip malls and major malls all over the Charlotte region have many retail spaces that are sitting idle.
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Old 03-09-2007, 03:02 PM
 
Location: Asheville
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We moved here to Kannapolis on Jan 30th. Everything I've been reading points toward a boom, or at least an expected boom. I read the footnotes from a session of the county leaders a couple of weeks ago, sorry no link, and I'm paraphrasing here but they're discussing the needs to bolster public transportation, the side walks and the need for more parks to accommodate the population growth before the completion of the research campus.
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Old 03-09-2007, 03:18 PM
 
Location: Sunny Phoenix Arizona...wishing for a beach.
4,299 posts, read 13,638,042 times
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Originally Posted by NC_Investor View Post
I am beginning to wonder myself. The foreclosures in Charlotte have jumped 10% in the past 2 weeks. Many of the homebuilders are building in anticipation of the spring selling season. They are also beginning many new developments in hopes of driving new interest. Many of the realtors, I now tell me traffic and sales are down big time for the past couple of weeks, which are usually peak times. The latest indicator that I have seen are the signs listing “1% rebate on any new home up to $20,000”. Retail in Charlotte and throughout the country is in poor shape. Practically all of the strip malls and major malls all over the Charlotte region have many retail spaces that are sitting idle.

I'll tell you their is no shortage of Lexus's lurking around Birkdale and crowds sitting out drinking expensive bottles of wine at the Cork Screw. lots are selling left and right at Centennial in Huntersville. I guess it depends in the area. I also heard the new condos at Langtree on the Lake at Lake Norman have a list that is all sold out and the condos start at 600,000. The retail shoppes at the Lake are sold out too.
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Old 03-09-2007, 03:23 PM
 
Location: Asheville
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Originally Posted by aardvarks View Post
We moved here to Kannapolis on Jan 30th. Everything I've been reading points toward a boom, or at least an expected boom. I read the footnotes from a session of the county leaders a couple of weeks ago, sorry no link, and I'm paraphrasing here but they're discussing the needs to bolster public transportation, the side walks and the need for more parks to accommodate the population growth before the completion of the research campus.

I went looking for this article, I couldn't find it but I found this one and it seems to point toward a boom.

http://www.independenttribune.com/servlet/Satellite?pagename=CIT/MGArticle/CIT_BasicArticle&c=MGArticle&cid=1149193525972 (broken link)
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Old 03-09-2007, 09:47 PM
 
Location: Jackson, MS
473 posts, read 1,453,070 times
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Red face Kannapolis?!

Quote:
Originally Posted by briankraus View Post
What is going on in this town - I see a lot of forclosures and new construction. Will Kannopolis still Boom in '07.....
I'm sorry but I didn't like the area for what was in our price range - ended up in Huntersville.
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Old 03-09-2007, 10:20 PM
 
Location: North Carolina
2,657 posts, read 7,182,716 times
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Originally Posted by briankraus View Post
What is going on in this town - I see a lot of forclosures and new construction. Will Kannopolis still Boom in '07.....
The Salisbury post keeps a running forum on progress there
http://www.salisburypost.com/ncrc/ncrc.php (broken link)

I was over there last summer, taking pictures. Here's the thread from last year. I think one of the pictures was sheared off by the mods; it seems there's a sentence with no picture attached.
http://www.city-data.com/forum/north...ght=kannapolis
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Old 03-09-2007, 10:38 PM
 
Location: North Carolina
2,657 posts, read 7,182,716 times
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Quote:
Originally Posted by NC_Investor View Post
I am beginning to wonder myself. The foreclosures in Charlotte have jumped 10% in the past 2 weeks. Many of the homebuilders are building in anticipation of the spring selling season.
http://money.cnn.com/2007/03/09/news...ex.htm?cnn=yes

There were signs last fall that are becoming more noticeable with the springs sales season
http://www.realestatejournal.com/buy...0-morales.html

Coverage of the Charlotte situation and a blogger's view
http://www.bradenton.com/mld/charlotte/news/special_packages/foreclosure/ (broken link)
http://activerain.com/blogsview/3273...pdate#comments

Bad credit, no credit, hinky mortgages, shady lenders, people trying to buy more than they can really afford ... there's been a lot of insanity in the housing market this past decade. Not to mention a burgeoning population also means a tandem rise in the number of people who suffer unforeseen circumstances that lead to financial problems.

The other articles I read; realtors and builders seem optimistic that this isn't a bust, just that a lot of high falutin' dreams are meeting dark reality.
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Old 03-11-2007, 11:34 AM
 
56 posts, read 46,558 times
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I must say that I have enjoyed my share at the Corkscrew that is a favorite for my business clients. A few others are the Melting Pot for a sit down and Firebirds for a quick bite. Lets be honest the traffic to almost all restaurants in the area is down by a significant amount over the past 18 months. We have had a little improvement in the past couple of weeks with the income tax money coming home. My Clients are expecting this to be temporary and are bracing for another slow period with the rise in gas prices. Retail is also experience a horrible downturn A trip down a main street and you will see many signs for commercial real estate be it retail space, office space or warehouse space. The mall and strip malls also have a ton of space available. The clearance signs and 50% to 80% off sales signs have littered all stores since last April. Even my favorite Nordstrom's has had a few.
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