It is incredible to see the demand for Charlotte Real Estate. Yes, everyone is looking for a deal based on the national economy but it is absolutely amazing the demand that still exists in Charlotte North Carolina. Are there deals? Yes. But if you find a home aggressively priced (like a Charlotte Foreclosure), you had better be able to move quickly and expect competition. Multiple bids are the norm for Charlotte Foreclosures. Now this is assuming the Charlotte Realtor listed the home aggressively and discounted it since it is a foreclosure.
There are many new listing agents out there that are listing foreclosures and many are listing them at market value. Pardon me but this is silly and a waste of time. You will not likely find Charlotte Homes discounted 50% but if you do keep this in mind "THERE IS ALWAYS A REASON". If you find a Charlotte home discounted too much there is something that you do not see. How is the rest of the neighborhood? How many others are approaching foreclosure or in foreclosure within the specific neighborhood? How are the comps? Has anything sold recently? Many new neighborhoods were the result of sub-prime lending. As this new Government created niche developed many builders fulfilled the demand. Many of these neighborhoods are in trouble and will likely take a long time to rebound. When a happy home owner needs to sell his home he is very disappointed because he cannot compete with all of the foreclosures. Ultimately he Will have 4 choices: 1) Stay in the home, 2) Let his home go into foreclosure, 3) Sell the home a loss, 4) Rent to home.
None of these options are appealing and none will help your home value. This is not intend to scare you but to assure you are aware of risks involved with purchasing a Charlotte Foreclosure. There are deals but work with an experienced and knowledgeable Charlotte Realtor to assure your needs are prioritized. Visit Charlotte Real Estate - Charlotte NC Homes for Sale for more great information about the Charlotte region.