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My wife and I just came back from a NC trip (we visited charlotte and RTP) needless to say we were impressed with the communities and the people. We currently live in LA,CA. and are contemplating a move. A problem i'm having is that it seems that a lot of places are new developments and there seems to be alot growth in these areas. Is there great demand for this amount of devlopment? Mind you that LA had a similar look a few years but now tons of constructed homes sit unoccupied is Charlotte and RTP headed for the same fate? What areas could sustain their value? We visited Heritage at WF and we were pleased is this a good community?
I just read this article about Charlotte: Charlotte Observer | 12/09/2007 | New suburbs in fast decay (http://www.charlotte.com/253/story/397430.html - broken link)
I don't know if there are any neighborhoods like this in Raleigh. Maybe someone else could chime in.
I just read this article about Charlotte: Charlotte Observer | 12/09/2007 | New suburbs in fast decay (http://www.charlotte.com/253/story/397430.html - broken link)
I don't know if there are any neighborhoods like this in Raleigh. Maybe someone else could chime in.
It is worth noting that those neighborhoods in fast decay are all starter neighborhoods where first time inexperienced buyers got in over their heads - these are not the typical neighborhoods newcomers and transplants buy in. Charlotte is home to many, many beautiful neighborhoods - those decaying ones are in the minority and not representative of what is here at all.
To believe that NC is immune from the recession and housing market crash is a very naive position. We are part of this country, and the economic down turn of the nation will (is) effecting NC, as are soaring energy costs.
The Raleigh, NC area has a projected appreciation of 3% in 2008. Heritage is a very good area and it is quite popular. Our market is still good, but I also don't have the capability to see into the future.
The Triangle area of the State, and Charlotte, do not seem to be faring as badly as other areas of the country, but I think whether you will be in a good position moving here, or not, will depend upon a number of factors that I know I am not qualified to respond to. These areas of the State, in general, seem to be lagging behind the recession seen in other areas, but people here are suffering as well.
Unemployment, in some job markets, is catching-up % to other areas across the US. There have been a lot of layoffs that perhaps the people working in the particular industries saw coming -- landscaping and related business, which the drought has certainly not helped; the housing industry appears to have slowed down, particularly in resales, it seems; even some technology-related jobs have been cut.
I would tell you to do some careful research, and make an educated choice to move. We may be in a little better shape here in NC, but we are hardly immune to what goes on in the rest of the US.
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