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Old 10-05-2009, 02:35 PM
 
1 posts, read 1,608 times
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I've been looking at a few different locations to purchase a home with my fiance' in Charlotte.(Price Range $120000-$180000)
We have looked in Fort Mill, Starmount, Rama Woods, Sardis Woods...

We like the 40's,50's,60's home styles verses track homes,(example a Plaza-Midwood craftsman) but we can't afford anything over there.

Grier Heights has some really cute new construction, but I'm on the fence about the area for crime reasons...also NoDa.

What do we all think about Steele Creek, more specifically Yorkshire (off Moss Rd) or Stowe Creek next to Berewick. Crime? Home values?

Indian Trail and Waxhaw are too far for us.

Any input would be much appreciated.
Thanks
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Old 10-05-2009, 03:09 PM
 
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Go look at the homes off Country Club Drive as it heads towards Dunlavin. Be careful of houses in the SW part of Meck as you might end up under a flight path.

However if you wait for 6 months, lots of places you can't afford now, will be affordable. Plaza/Midwood has become a disaster in terms of ownership at today's prices.
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Old 10-05-2009, 03:16 PM
 
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there are lots of options in the 120-180 range in ~1950 construction, most of them are within 4 miles of uptown. This is a section of the market that is not appreciating quickly, but not depreciating at all. I don't see this trend changing for anything but the better in the near future.

Personally, I'd avoid SW Charlotte... but I'm spoiled by the convenience and amenities that surround the urban core.

I'd be most worried about home values in:

1) new neighborhoods, especially where vinyl is the siding of choice.
2) neighborhoods with median home values >350K.
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Old 10-05-2009, 03:28 PM
 
Location: Concord, NC
1,210 posts, read 1,935,359 times
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I have read there are a bunch of ARM's and Interest Only loans that will be getting adjusted in the next 6 months to a year. If that pans out and the rates increase you might see more people selling/foreclosing which could drive prices lower. If you plan on being in your place for a long time then I wouldnt wait. If you are thinking you want to sell in the next 5 years you may want to think about waiting.
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Old 10-06-2009, 01:09 PM
 
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Default Westchester Subdivision

I am with you on the 60's ranch style homes.... the houses are built better and they have more character. Have you looked in the Westchester Neighborhood off of Freedom Drive. Great neighborhood/location and interstate accesible.
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Old 10-06-2009, 01:25 PM
 
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Merry Oaks
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Old 10-06-2009, 01:32 PM
 
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^great suggestion!
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Old 10-06-2009, 08:05 PM
 
Location: Inactive Account
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Be careful about new neighborhoods. My gut feeling is that "mid 2000s homes" will develop a reputation kind of like "mid 70s cars". Builders were slapping them up as fast as they could during the boom, and I'm sure a lot of things went unnoticed by the code inspectors.

To be fair, at around 45 years, the electrical and plumbing on a house can be nearing the end of its lifespan too. It's not unusual on a 1950s or 1960s home to face a several thousand dollar repair that went unnoticed during the buyer's inspection.

Weighing the odds though - I prefer a settled neighborhood. You at least know the homes have been lived in a while, and the neighborhood isn't likely to face a sudden foreclosure wave such as happened to the ones Beazer put up in Northeast Mecklenburg.
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