Where would you spend 500k today? (Charlotte, Weddington: loans, house, wedding)
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Just for a quick reference, I wanted to see what kind inventory there is between 400 and 500k... Since several people are adamant about 500k not being "worth it" in the metro area I was curious.
I took the first MLS areas and found a total of 1,219 homes listed... I could have gone further into other counties, but this is probably a good indication of what's out there. Keep in mind this doesn't include shadow (pre-foreclosure), foreclosed, or folks "holding on until prices recover".
It really makes one wonder how many of these will slip into the 300-400k price point in the near future.
1 Meck County - 93
2 Meck County - 22
3 Meck County - 40
4 Meck County - 109
5 Meck County - 180
6 Meck County - 21
7 Meck County - 3
8 Meck County - 0
9 Meck County - 9
10 Union County - 172
11 Cabarrus County - 85
12 Iredell County - 50
13 Lake Norman - 198
14 Lincoln County - 20
15 Lake Wylie - 98
16 Gaston County - 33
17 York County - 86
Mikey--I'm starting to lose you on the direction/point of your tread. Sorry. Senior moment. What are we trying to determine here? lol
I'm really not trying to determine anything specific - more looking to generate discussion of housing values around 500k... Looking for general opinions on that price point and where it might be best spent (if at all). I know everyone has varying opinions on it and I really liked your reply.
The idea here would be that a thread like this would be something to help some potential transplants and even those who are downsizing. It also keeps me active looking at the market... There is frighteningly low sales at this price point.
I'd also like to look back on this a year from now and relive what we were thinking.
Looks like McMansion city on the Union County border. I feel bad for anyone who bought into that mess. No sympathy though for anyone who does now.
There is like nothing moving there... at all. I look at sales/closing almost daily. I agree that this is certainly an area that has trouble brewing when people can't wait any longer to sell.
Along the border is one thing, but I'd imagine as you move further out into UC (where they built some pretty expensive developments) it's going to be a worse blood bath.
A few years ago I was going to Weddington High School a lot for games. There was an old white farm house on the road out there (coming from 16). It looked like it was over a hundred years old. Beautiful. Stuck out there in the middle of McMansionville. Can anyone tell me if it's still there?
There is like nothing moving there... at all. I look at sales/closing almost daily. I agree that this is certainly an area that has trouble brewing when people can't wait any longer to sell.
Along the border is one thing, but I'd imagine as you move further out into UC (where they built some pretty expensive developments) it's going to be a worse blood bath.
Yeah I can imagine that parts of Union County will come to resemble some sort of dystopic ruins over time. Short lived ruins however. These monster homes are so badly built they won't last long once the expensive maintenance is dropped. Anyone who doesn't believe it can happen here, should take a trip to Heritage PTL to see what happened to all the huge amounts of money spent there.
A few years ago I was going to Weddington High School a lot for games. There was an old white farm house on the road out there (coming from 16). It looked like it was over a hundred years old. Beautiful. Stuck out there in the middle of McMansionville. Can anyone tell me if it's still there?
Do you know the cross street to 16? I'll look for you next time I run into Weddington.
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yum!
