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Old 06-23-2007, 05:26 PM
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Default Too late for housing deals in NC?

According to Forbes Magazine, Charlotte NC housing prices have increased over 12% this year and will continue to climb. If this trend is true for all NC, then I am in deep doo-doo, because Phoenix is supposed to continue to decline for another year and a half before increasing in 2009. So I am selling low here and buying high there? That figures. I have never timed anything right.

The article: Where will real estate bounce back fastest? - Buy a House: MLS Listings & Home Buying Tips - MSN Real Estate
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Old 06-23-2007, 05:42 PM
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Hi I guess it would depend on what your max price point would be but a 12 percent is a good healthy rate unlike other parts of the country when housing was booming that had major increase like a 500k for 700k.

Charlotte will remain healthy growing for a good another five years unless something happens unexpected.

I regret you selling low but alot of people across country are in similar situation as you having trouble selling their home to move here so it controls a flood of people at one time moving to this location.

Average home for 2000 sq ft home is around 210k so if you factor in 12 percent then it would only be 288k at growth rate in a year at that percentage point.

There is only 14 counties out of 100 that have expected higher than national average growth projections for 2010 to 2020 so that would leave 86 counties you probably can find a good size home and maybe nice size lot

(broken link)
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Old 06-23-2007, 05:47 PM
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Wow! Nice map, Sunny. And THANK YOU for the sense of relief! I wasn't going to buy in Charlotte anyway - probably Yancy or Watauga County.

Whew!!!
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Old 06-24-2007, 10:45 AM
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Don't overlook the coast!! Some areas the price of a residential property are down 20%. Here's a brief video highlighting the price trends along the Crystal Coast: Click Here (broken link)
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Old 06-24-2007, 11:34 AM
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ACC Fan wrote: If CLT property becomes more expensive and CLT jobs don't pay as well then why move to CLT from Long Island? (especially when you can't sell your home in NY in the first place)

Bingo-That's the normal course of things. It happened here along the coast-2005 was the peak for my area and prices and sales have slid ever since. YTD sales are about 25% less this year compared to last year.
All high tides are folowed by a low one.
Bill
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Old 06-24-2007, 11:47 AM
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Quote:
Originally Posted by Bill Hitchcock View Post
Don't overlook the coast!! Some areas the price of a residential property are down 20%. Here's a brief video highlighting the price trends along the Crystal Coast: Click Here (broken link)
With Global warming, the coast will either be under water or hammered by weekly hurricanes before I take my dirt nap...

LOL. Just kidding. We want the forest, not the ocean, at least for a home. Will visit the ocean, though. But thanks for the post.
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