NJ to NC?

[Sleestak]

Originally Posted by saralee

Yes, a lot of it is NYC overflow. My grandparents owned a condo in Cranford for 20+ years that they sold to a family from NYC post-9/11. There are entire communities that became magnets for families looking to leave the city after 9/11.

SL

Thanks for the reply. Another minor mystery solved...

[saralee]

Originally Posted by Sleestak

Thanks for the reply. Another minor mystery solved...

Jersey's housing market was already overpriced but this just drove it up even more. Families from NYC didn't think twice about paying rents and/or mortgages that working class Jersey families struggled with. Just like I'm afraid we're (transplants) driving up the cost of housing here (NC), making things less affordable for natives.

SL

[Sleestak]

Originally Posted by saralee

Jersey's housing market was already overpriced but this just drove it up even more. Families from NYC didn't think twice about paying rents and/or mortgages that working class Jersey families struggled with. Just like I'm afraid we're (transplants) driving up the cost of housing here (NC), making things less affordable for natives.

SL

Hmm, what's that old saying about a certain substance rolling downhill? Just kidding... I'm sure there are plenty of nice people living in NJ. There might even be a few in the NYC area. It's just a shame that the current migration trends have jacked up housing costs in so many areas. Oh well, guess we'll just have to deal with it.

[Back2NC]

Originally Posted by saralee

Jersey's housing market was already overpriced but this just drove it up even more. Families from NYC didn't think twice about paying rents and/or mortgages that working class Jersey families struggled with. Just like I'm afraid we're (transplants) driving up the cost of housing here (NC), making things less affordable for natives.

SL

Saralee, thank you so much for saying this! I am an NC native, and am trying to move back there to be closer to family. However, I live in a VERY depressed housing market, and am quite concerned we will not be able to afford the move. Originally, we thought we could get a good, decent house outside of Charlotte for $180 or less. Now I am beginning to wonder. We are not looking for mansions, but we are not looking for starter homes, either. From all I have been reading, I am wondering if we can get ANYTHING for under $200K that is in a good, safe neighborhood, that is middle/upper middle class, in a good school district.

Maybe I am just missing something. Maybe our price range IS realistic. However, when I see other posters with budgets of $300K plus, I start to lose hope. We just cannot afford those types of mortgages. No way.

So...yes, I hope that the area does not swell like the NYC/NJ area, but I fear it is. It is good for those looking to make an investment. It is quite unfortunate for those of us just looking to move closer to family, hoping to move to a little better of a home in the process.

[saralee]

Originally Posted by Back2NC

Saralee, thank you so much for saying this! I am an NC native, and am trying to move back there to be closer to family. However, I live in a VERY depressed housing market, and am quite concerned we will not be able to afford the move. Originally, we thought we could get a good, decent house outside of Charlotte for $180 or less. Now I am beginning to wonder. We are not looking for mansions, but we are not looking for starter homes, either. From all I have been reading, I am wondering if we can get ANYTHING for under $200K that is in a good, safe neighborhood, that is middle/upper middle class, in a good school district.

Maybe I am just missing something. Maybe our price range IS realistic. However, when I see other posters with budgets of $300K plus, I start to lose hope. We just cannot afford those types of mortgages. No way.

So...yes, I hope that the area does not swell like the NYC/NJ area, but I fear it is. It is good for those looking to make an investment. It is quite unfortunate for those of us just looking to move closer to family, hoping to move to a little better of a home in the process.

I feel for you. I really do. We left Jersey because we simply could not afford to purchase a home. I understand how natives feel and sometimes I feel guilty when I consider the position they have been put in by the influx.

We had to be realistic about what we could afford, without putting ourselves in an undesirable position. I am a strong proponent of living within one's means. The only thing I would ever finance is a home -- not a car, vacations, clothing, etc.

I don't know much about the overall Charlotte market however, I think you can still manage to find something within your price range. I guess it really depends on what your requirements are for the home, the community, etc. But we are in a safe neighborhood of lovely homes, with great neighbors (a mixture of natives and transplants) on minimum acre lots and we purchased back in November for $179K. I love the serenity in our neighborhood. I guess you'd call it semi-rural although you can feel the development closing in on us!

Our home is modest compared to what I see most people looking for on the boards but we are so, so incredibly happy. Our home is about 4-years-old, built by a custom builder (who actually lives in this community). But we don't have any amenities and many people do not like the schools that serve this neighborhood. Clearly, these weren't issues for us. We are out in the county, with a Monroe address.

But during our search, I saw many homes in our price range throughout Unionville, IT, a few in Waxhaw and Matthews. But, unlike many we have encountered, we wanted more land (I need privacy!) than house and we settled on 2100 sq. feet, 3 bed/2.5 baths on more than an acre. Coming from Jersey, it's considerably more than I could have ever dreamed of owning!

We've become acquainted with a gentleman who purchased a home in Mineral Springs (about 6 mins from us) on 3 acres, 4,000 sq. feet home, 9 acre pond (shared with two other families) and he paid $170K for his gem a little more than a year ago. My kids think they've died and gone to heaven when they get to run loose on his property. There are (what I consider to be) good deals to be found.

Good luck with your search.

SL

[Back2NC]

SL,

Thank you so much for your post! It made me feel better, and a little more optimistic. Sounds like we are probably looking for something similar to what you found, except for the school component. (That is a biggie at the moment.)

Hopefully, we can make this work before much longer, while housing is still within range. Thanks so much.

Peace.