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I see alot of folks leaving Florida, I wouldn't mind being one of them. My only question is.... Long term finances..
Will my house values go up in NC, SC or TN like they probably will here long term? I mean if someone left California or Long Island or Florida or New Jersey 20 years ago and moved to the Carolinas, I don't think they would be as well off now financially as the neighbors they left behind that are now selling their houses for big $. I Know several people that sold their Florida homes 4 or 5 years ago and now can't afford to move back here.
What will my house in FL be worth in 20 years?? What will a house in the Carolinas be worth?? Wish I had a crystal ball!!!
Who would have thought my house in Phoenix would double in 2 years. We have nothing here. When people come and flood the market it increases demand. We had many investors and Californians coming in and it exploded the market. The same could happen in NC, Floridians, NY's ,NJ,Cali's and I think Phoenicians are on the way. It could happen in Charlotte. Charlotte is a very desirable area. I can tell you it blows Phoenix away.
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,543,620 times
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Quote:
Originally Posted by a1m1700
Who would have thought my house in Phoenix would double in 2 years. We have nothing here. When people come and flood the market it increases demand. We had many investors and Californians coming in and it exploded the market. The same could happen in NC, Floridians, NY's ,NJ,Cali's and I think Phoenicians are on the way. It could happen in Charlotte. Charlotte is a very desirable area. I can tell you it blows Phoenix away.
I guess I can believe that but looking at another "new south" city, that being atlanta, why hasn't it happened there? Clearly it's been in the top 20 places with the largest number of people coming in. Housing hasn't doubled or tripled. I'm not necessarily disagreeing, I'm just asking why hasn't it happened if all the factors are there?
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,543,620 times
Reputation: 2118
Quote:
Originally Posted by a1m1700
Who would have thought my house in Phoenix would double in 2 years. We have nothing here. When people come and flood the market it increases demand. We had many investors and Californians coming in and it exploded the market. The same could happen in NC, Floridians, NY's ,NJ,Cali's and I think Phoenicians are on the way. It could happen in Charlotte. Charlotte is a very desirable area. I can tell you it blows Phoenix away.
wow doubled in 2 years?!!? That's unreal (good for you I know) but man, that's to much to fast.
I think (again IMO) Atlanta has remained consistent, I think there is more of an equal balance there, not too much supply and/or demand....why NC kicked it over the past few years, I think people do look to Atlanta and other Metro areas but they tricke in/ trickle out... Florida used to be (this is many yrs ago-a place to retiree, then everyone went, now not only is NC being flooded wtih everyone, add all those "half-backs" Then again, most businesses that are in atlanta have been there, only in recent yrs did a lot of companies starting moving to NC too...so many coming from so many different angles, and from what I hear, more companies are coming down there...what will happen when Murdoch finishes his project (that's only 25 mi out of Charlotte)
wow doubled in 2 years?!!? That's unreal (good for you I know) but man, that's to much to fast.
It was very fast and I didn't see it coming. I could have purchased a 3700 sqft home in June 2004 for 280,000. By the time it would have been built May 2005, they were selling for 600,000. I could have made a fortune, but like I said it took me by surprise. We thought 280,000 was too expensive so we decided not to do it. It still hurts me today to think about it. I would have sold it and took the money and re-invested. many people here in Phoenix have gotten wealthy in the last 2 years in real eatate. I've been here for 18 years and the market was doing nothing until 2004. I bought my little 1824 sqft house in 2003,for 145,000 and last Summer they were selling in 1 day for 320,000.
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
3,770 posts, read 7,543,620 times
Reputation: 2118
Quote:
Originally Posted by a1m1700
It was very fast and I didn't see it coming. I could have purchased a 3700 sqft home in June 2004 for 280,000. By the time it would have been built May 2005, they were selling for 600,000. I could have made a fortune, but like I said it took me by surprise. We thought 280,000 was too expensive so we decided not to do it. It still hurts me today to think about it. I would have sold it and took the money and re-invested. many people here in Phoenix have gotten wealthy in the last 2 years in real eatate. I've been here for 18 years and the market was doing nothing until 2004. I bought my little 1824 sqft house in 2003,for 145,000 and last Summer they were selling in 1 day for 320,000.
ouch! I feel your pain. Back in 1995, I had a "all planets aligned" scenario. The owner of 4 duplexes (so 8 units total) were all on sale- the owner (an old man) died. They were currently rentals and the old man's sons were running them. They wanted out most b/c the brothers didn't get along- so they'd take the money, split it, and move on. They were trying to sell them for like $250K each (for each duplex)- I thought it was high. I made him an offer of $800K for all of them. He said yes, I talked to some friends who balked at the idea of being a landlord (living on one side and renting the other side). Long story short, I bought one and another friend bought one. Today they are worth over $550K, and would have cash flowed over $30K/year NET profit. For a mere $80K, I could've owned 2mil in RE and had $30K net income (given the current rental units). I vowed after that to do my own homework and make up my own mind, and stay alert and never let people who new nothing about RE and landlording (or who don't have practical experience in the subject they are giving advice on) discourage me again.
The funny thing is (to me at least) the RE marketing started heating up after they sold- they were begging to buy them back. But they already sold all the units.
You live and learn
Last edited by Miker2069; 06-22-2006 at 09:01 PM..
ouch! I feel your pain. Back in 1995, I had a "all planets aligned" scenario. The owner of 4 duplexes (so 8 units total) were all on sale- the owner (an old man) died. They were currently rentals and the old man's sons were running them. They wanted out most b/c the brothers didn't get along- so they'd take the money, split it, and move on. They were trying to sell them for like $250K each (for each duplex)- I thought it was high. I made him an offer of $800K for all of them. He said yes, I talked to some friends who balked at the idea of being a landlord (living on one side and renting the other side). Long story short, I bought one and another friend bought one. Today they are worth over $550K, and would have cash flowed over $30K/year NET profit. For a mere $80K, I could've owned 2mil in RE and had $30K net income (given the current rental units). I vowed after that to do my own homework and make up my own mind, and stay alert and never let people who new nothing about RE and landlording (or who don't have practical experience in the subject they are giving advice on) discourage me again.
The funny thing is (to me at least) the RE marketing started heating up after they sold- they were begging to buy them back. But they already sold all the units.
You live and learn
That's it.........Live and learn. I'm going to take my new found knowledge to NC with me.
Dave Mrudoch is going to build in Kannapolis another bio area - do a google search using his name (I believe middle initial h) do not know if the project has been started, those living in the charlotte area may know.
Dave Mrudoch is going to build in Kannapolis another bio area - do a google search using his name (I believe middle initial h) do not know if the project has been started, those living in the charlotte area may know.
A biotechnology research and teaching center, in conjunction with the University of NC. The seriously curious can google Kannapolis+biotechnology or do a search on past threads. I posted a couple of links.
I'd like to get over there and look at the area; see how it has/is changing. I remember first visiting Kannapolis in the company of a realtor waayyy long ago. The downtown area had been refurbished into shops, furniture stores, other tourist tat stuff. Lately, it's been touted in homage to Dale Earnhardt, with a statue erected in his memory (I think his mom still lives in that area). I hear that the Pillowtex plant (which you could once tour and see how your binkies and bath towels were made )has been torn down, and the lake that was once a centerpiece of the town filled in.
I plan a ride over there, once my bike is out of the motorcycle hospital. I'm interested in revisiting the area, but only in conjunction with something I enjoy doing.
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)has been torn down, and the lake that was once a centerpiece of the town filled in.
