Light rail system - good thing? (Charlotte, Raleigh: for sale, lofts, condos)

[wanttoinvest]

I'm looking to buy in Chalotte area and have heard that the light rail system will raise house values on the south side and will make them great investments. But I'm from the San Francisco area, and the BART rail system didn't really have such an affect. Any opinion? WHich zip codes/areas would you consider to be the best bet to buy, fix and/or hold onto a few years, and then sell?

[SunnyKayak]

I love the options of travel in the S.F area especially the caltrain express line to san jose. Between Caltrain Muni and Bart getting around the city and other cities was a breeze.

In my opinion I seriously doubt light rail if it will have much affect on house prices in the south side Charlotte area mainly due to there is hardly any housing within walking distance (less than 10 minutes) of the rail line just a few condos such as the Arlington are near the line.

For areas to look into flipping for higher return in investment I would look into is areas that are going thru positive change 28037 28164 28081 28083 28027 28120 29732 29710

Also I must state going by a zipcode is a little broad approach as there is bad areas and good areas within a zip code

[Wades]

Originally Posted by wanttoinvest

I'm looking to buy in Chalotte area and have heard that the light rail system will raise house values on the south side and will make them great investments. But I'm from the San Francisco area, and the BART rail system didn't really have such an affect. Any opinion? WHich zip codes/areas would you consider to be the best bet to buy, fix and/or hold onto a few years, and then sell?

no it will not. it needs to be a System, the A to B deal is not going to cut it.
consider it's constantly getting put on hold as it is. Plus, chances are 0 the suburban moms will trust their kids to a train, they don't trust the school bus. As far as buying fixer uppers, it seems to be a different subject. They are not exactly where the light rail is.

[Wades]

Originally Posted by SunnyKayak

I love the options of travel in the S.F area especially the caltrain express line to san jose. Between Caltrain Muni and Bart getting around the city and other cities was a breeze.

In my opinion I seriously doubt light rail if it will have much affect on house prices in the south side Charlotte area mainly due to there is hardly any housing within walking distance (less than 10 minutes) of the rail line just a few condos such as the Arlington are near the line.

For areas to look into flipping for higher return in investment I would look into is areas that are going thru positive change 28037 28164 28081 28083 28027 28120 29732 29710

Also I must state going by a zipcode is a little broad approach as there is bad areas and good areas within a zip code

whoa I thought I was from here...are those in Charlotte? thank you...don't know those zip-codes but will look up. Could you name some neighborhoods?

[lovesMountains]

Originally Posted by wanttoinvest

I'm looking to buy in Chalotte area and have heard that the light rail system will raise house values on the south side and will make them great investments. But I'm from the San Francisco area, and the BART rail system didn't really have such an affect. Any opinion? WHich zip codes/areas would you consider to be the best bet to buy, fix and/or hold onto a few years, and then sell?

Let me see if I can fully answer your question. First of all, there are PLENTY of homes within a 10 minute walking distance of the light rail. And yes, the light rail has increased property values up and down the entire stretch of it. I would not necessarily say the light rail will make all of them a "great" investment, but good, yes. This section of the light rail may only stretch for 10 miles from Pineville to uptown, but that covers a lot of densely populated area - it's a good start to a system that will eventually offer other connections from uptown to the university area and Huntersville. People should remember, Rome was not built in a day.

As far as investing in property, a lot depends on how much you want to spend. The trendier area just south of uptown called Southend has many new lofts, condos, businesses. The residences there are already a bit pricey, though I do believe they will only appreciate over time. The further south you go toward Pineville the cheaper and cheaper the neighborhoods get (not counting downtown Pineville itself). Also, the worse they get in terms of criminal activity and a high hispanic concentration (not that I am implying those two go hand in hand, I AM NOT). But coming from such a large metro area as San Fran, you may not find our lower income areas nearly as bad as some of us here do. They are certainly not slums or ghettos, just not exactly middle class.

Looking homes up by zip code will not give you the info you want, as zip codes stretch over large areas (and the ones mentioned previously are not even in Charlotte). Instead look by neighborhood; places like Wilmore, Sedgefield, Starmount, Hebron, Sterling and Sharonbrook.

In my opinion (which has been formed over the 20 years I have lived here, unlike some who just got here yesterday)
your best bet would be to look to invest in Wilmore or Sedgefield.

Best of luck

[carolinatrendsetter]

I was just visited Denver, CO and rode there light rail. I was amazed at the high volumes of people riding the light rail as well as the buses there. From Business men to school students. I saw a lot of similarities in the 2 cities. And the way gas is going Light rail and public transportation will likely be seeing many much more support across the country.

I hope Raleigh (Where I live) and the triangle get their act together with the light rail also.

[SunnyKayak]

The zipcodes I provided are areas that meet one of the following conditions that are going to provide excellent growth opprotunities within the zip codes they are either near a non populated spot on a lake, in process of great job and industry growth or receiving a new or revamp road access into charlotte area.

Geographically speaking Sedgefield looks like it will be close to the light rail line so yes it is near it but unless you have a house that is in backyard of one of the box stores or industries to gain access to one of the rail stops you will have to walk to one of major roads then make an attempt to cross the non pedestrian friendly south blvd to the rail stops and by the time one would do this they could have drove into uptown charlotte in same amount of time. Also walking to the stop during our summers or winters will not be pleasant
Sedgefield homes are already pricey and yes they will appreciate but at a normal rate for charlotte area not because of light rail line.

If you ever took bart from SFO airport thru south San Francisco the view has alot of similiarities to where Charlotte Lynx line is going

I just think for what you are wanting to do is get in an area that will be a future hot spot to live.
I try to earn extra cash the same way for instance I was just outbid on a home under forclosure in Huntersville 28078 the forclosure rate was at 65k across street from a nice subdivision and homes in this area are averaging in 200k so the hunt still on. I cant imagine trying to do what you are wanting to do without knowing the area but my hat is off to you. Flipping can be fun and alot of work too.

[Wades]

Hah, I knew it, it is not in in Charlotte.
Well, the lightrail will run along the Greenway through Belmont, Villa Heights and NoDa. This is in the drafts though. As far as grouth goes...that's where it is. Just last Christmas we were buying fixer-uppers in Belmont for 90k (christmas special) now the same fixer-uppers are selling sweetly for $140. (that is, 50k up in just half a year, just like that!)
new construction sprung up in 400dreds...how, in Villa Height? I thought some one give me a break. But I beleive now after I've seen it.
Being an investor takes a lot of guts, a lot of risk. Checking crime reports is probably Not what a true urban pioneer should do. better check the sales reports I think.
a lot on 15th street and Belmont street for sale now....I know, I know, crime, I drive there every day. But that is the last fronteer of Belmont, after that it is done.