The Charlotte Real Estate market continues forward in spite of the national economic situation.  Fortunately our home prices have not been as heavily impacted by the remainder of the national real estate industry.  Did you wonder why?

There were many factors contributing to the housing bubble.  Yes, the largest impacting aspect were high risk loans dictated by Congress.  This superficially increased housing demand and home ownership.  Prices reflect demand.  Now the superficial loans have been dramatically been reduced, demand has decreased and housing prices followed.

So first we have less demand.  Now we have the repercussions of the high risk home loan failure rate.  This creates a large ratio of foreclosures.  Now we need to translate and analyze the Charlotte foreclosures.  There are a variety of areas that will be impacted.  First are the "starter home neighborhoods".  A starter neighborhood is a new creation that occurred in markets that are experiencing a population growth.  With Charlotte's growing population we had many new starter neighborhoods.  These tend to be the least expensive homes in any given community.

The impact on these neighborhoods provide opportunities for now home buyers.  A family can obtain a home at prices of a few years ago.  In five years or so these sub prime loans will have ran their course and you are now in a stable Charlotte Neighborhood and got in at a great value.  The short term resale may not be promising due to an abundance of homes continually placed on the market.

The investor impact is also a factor to consider.  Investors flocked into Charlotte neighborhoods after the hurricanes hurt the Florida market and looked for their next target.  Charlotte's positive economy attracted them.  The investors purchased homes with the intent of renting for a few years and then selling with profit.  They were amazed to find new homes for less than $175,000.  The investors purchased these homes without considering the past appreciation, the rental market in Charlotte nor the impact of rentals in a Charlotte neighborhood.  Ultimately they purchased homes in starter neighborhoods and further pulled down the value of the homes.  When the economy turned downward, the investors abandoned their homes and thus further amplified the distress within these neighborhoods.

Are there deals?  Yes, but the new reality of real estate investment has returned to the times of old.  The times of get rich quick deals has been dramatically reduced.  Home equity loans are more difficult and lenders are more restrictive before making these loans (due to failure rate and inability to recover their funds). 

Charlotte is still in high demand and people still want to move into our market.  The Charlotte market will continue to grow at a slow and steady pace and you can be assured to be safe for a Charlotte home purchase.  If you are seeking a great place to live, temperate weather and great opportunity for your family then Charlotte property welcomes your arrival.

Authored by Rick Waite

Charlotte North Carolina Real Estate continues to grow at a dramatic pace.  There is a lot to understand prior to purchasing your Charlotte North Carolina Homes.  The purpose of a Charlotte Real Estate Blog is to clarify and also to dispel rumors that are so prevalent in the news.

Most have heard that North Carolina is the fastest growing State in the entire USA.  What does that mean to you?  Why is North Carolina growing?  Charlotte North Carolina Real Estate is expanding because people all across the nation has heard about the fantastic Charlotte weather,  Charlotte Homes, Charlotte banking and Charlotte business opportunities. 

According to Blomberg, Charlotte has the lowest commercial real estate vacancy rate in the nation at 2.3 percent and still continues to decrease! Notice the continued growth in commercial real estate in Charlotte. 

Charlotte Banking:  Wachovia and Bank of America are headquartered in Charlotte NC.  Our real estate prospers as a result.  The 2nd week on January 08 announced that Bank of America is purchasing Countrywide Mortgage.  Yes Countrywide is in trouble and Bank of America will get a good financial deal.  A "good deal' is much more complicated that the sale price.  Bank of America also has the expertise to bring Countrywide back to profitability.

Charlotte Airport is also expanding.  US Airways has a major hub in Charlotte.  US Airways has had a miraculous return to profitability thanks to the America West buyout and the new America West management team that is running the airline.  US Airways has an extremely strong market position as it eliminates its weakest performing hubs and capitalizes on the growth cities.  Philadelphia, Phoenix and Las Vegas complement Charlotte with strong traffic and growth.  US Airways is now expanding its International travel out of Charlotte and will continue to bring jobs and further boost the Charlotte Real Estate market.

Charlotte drivers:  I have heard complaints about Charlotte drivers.  The Charlotte population has already doubled since 1980!  Most of our drivers are not from Charlotte.  The difficulty is that we have drivers from a wide array of "driving cultures".  Driving Cultures?  Yes.  As you travel the globe, you will note that New York City, Cleveland, OH, Miami, FL, San Fransisco and Mexico have very different "driving courtesy rules".  Our new population continues to blend with our residents and it all works well together.  We understand that people take wrong turns and will be lost at times.  We are OK with that.  The majority of our residents remember being new.

For additional questions or concerns, feel free to comment via my blogs and I can address specific questions or concerns.

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