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First, my sincere apologies to the real estate agents who want people to believe the Charlotte area Real Estate Market is strong.
After 6 years my wife and I decided to look for a new house. We do not believe that we are sitting on a lottery ticket of equity but have certainly found ourselves in a comfortable position.
Our ask has been simple. We are willing to purchase up to $950K but require a quiet 2+ acre lot. For the amount that we are willing to purchase for you would think something would exist. It DOES NOT.
Challenges:
- unkept houses
- outdated houses
- under the flight path, off major road ways, near train tracks, etc.
- sellers who bought for 800K 5 months ago and are listing for $1.3M
- land that is a flood zone or really odd
- million dollar house son .25 acres of land
- no way am i living near trump national with all that crazy traffic
- no quality land to purchase and if we did the builders are not reliable or fast right now.
I have never seen such despicable selection of houses in my life. If you want to be within a commutable distance from University, Ballantyne, or Uptown forget it. The only way to get into something decent is Shelby, Statesville or out by Albemarle.
......If you want to be within a commutable distance from University, Ballantyne, or Uptown forget it. The only way to get into something decent is Shelby, Statesville or out by Albemarle.
What is everyone else's experience?
You are describing the results of a hot market. Combine that with a shift of so many people being able to work from home. I'm not sure why you expect anything different.
If you are realistic, what is your tolerable commute distance? To what central point? Are Shelby and Statesville really outside that commute zone? For perspective, I commuted over an hour each way in the Washington DC area for over 20 years. It is do-able.
Why do you really need 2 acres, if what you want if privacy. Wouldn't a heavily-treed one acre lot be enough?
I mean the market is not enjoyable as a buyer right now but a quick search of 2+ acres under 1 million brought up probably 30 results within an hour of uptown, some of which are in some nice neighborhoods like Gatewood, Providence Woods South, and others down south near Waxhaw...here's a screen grab of the results near Charlotte proper that are under $1m and over 1.5 acres. https://imgur.com/a/YCdn671
I'm particularly fond of 1025 Maremont Court, 100 Gatewood Lane, 5716 Caravan Lane,15268 Hus Mcginnis Road, 15046 Autumncrest Road...all of those appear to be in good condition and are in south Charlotte, Waxhaw, Mint Hill, or the Huntersville areas.
In my area land has gone from $20k per acre to $50k just in the past year.
My next door neighbor just sold his 3 bedroom home on 2 acres for $700k. And it sold instantly.
I mean the market is not enjoyable as a buyer right now but a quick search of 2+ acres under 1 million brought up probably 30 results within an hour of uptown, some of which are in some nice neighborhoods like Gatewood, Providence Woods South, and others down south near Waxhaw...here's a screen grab of the results near Charlotte proper that are under $1m and over 1.5 acres. https://imgur.com/a/YCdn671
I'm particularly fond of 1025 Maremont Court, 100 Gatewood Lane, 5716 Caravan Lane,15268 Hus Mcginnis Road, 15046 Autumncrest Road...all of those appear to be in good condition and are in south Charlotte, Waxhaw, Mint Hill, or the Huntersville areas.
Yeah seems like a fair amount of options in that price range. I'm guessing OP is pretty picky. Like 50% of the Charlotte area is probably "in the flight path" for example.
I think the most challenging aspect of your search is wanting a 2 acre plus parcel. There aren't many of those that are commutable to the major employment centers as land that size is more typical in a rural area versus a city. If it is commutable, 2 acres, AND in your budget.... the house itself is probably old / unrenovated / small. It looks like most properties that are renovated are well north of a million at that acreage.
I mean the market is not enjoyable as a buyer right now but a quick search of 2+ acres under 1 million brought up probably 30 results within an hour of uptown, some of which are in some nice neighborhoods like Gatewood, Providence Woods South, and others down south near Waxhaw...here's a screen grab of the results near Charlotte proper that are under $1m and over 1.5 acres. https://imgur.com/a/YCdn671
I'm particularly fond of 1025 Maremont Court, 100 Gatewood Lane, 5716 Caravan Lane,15268 Hus Mcginnis Road, 15046 Autumncrest Road...all of those appear to be in good condition and are in south Charlotte, Waxhaw, Mint Hill, or the Huntersville areas.
5716 Caravan Lane has a beautiful lot! Love the driveway leading up to the house + the extra garage space and chicken coop ready to go!
5716 Caravan Lane has a beautiful lot! Love the driveway leading up to the house + the extra garage space and chicken coop ready to go!
Yeah I am a little jealous of the detached garage/opportunity for a killer workshop. Only thing I don’t like about that one is the long driveway is actually sitting on an easement through the neighbor’s side yard.
I think the most challenging aspect of your search is wanting a 2 acre plus parcel. There aren't many of those that are commutable to the major employment centers as land that size is more typical in a rural area versus a city. If it is commutable, 2 acres, AND in your budget.... the house itself is probably old / unrenovated / small. It looks like most properties that are renovated are well north of a million at that acreage.
I see 10 active listings under $1 million within 20 miles of uptown on 2+ acres just built since 2015 alone, with year built being the main factor bringing the number down. Within 25 miles adds another 5.
Sounds like you described a strong market to me.. lol
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