The Charlotte Real Estate market continues to move homes but the vast majority of the sales are distressed homes. This includes Charlotte Foreclosures and Charlotte Short Sales. Others are selling but not in comparison to the activity on the foreclosures. Everyone is looking for a deal. Who can blame them?
There are several considerations when it comes to Charlotte Foreclosures to assure you are really getting the deal you had hoped. The Charlotte Real Estate market is complex and working with a person familiar is essential. Is the area declining or in demand? Yes, Charlotte NC is growing rapidly but where are people gravitating towards? Outsiders will often purchase homes in areas that they reconsider after they actually live there. This is not to say that any area is good or bad; but is the area a right "fit" for you and your family? Ultimately it is only you and the welfare of your family that counts.
The starter home neighborhood was good in theory but wreaked havoc on the real estate economy. It inflated the demand for real estate and drove up the prices. Ultimately many bad loans were made and these neighborhoods will take the longest to recover. You will be surprised at the "starter neighborhoods" in Charlotte. Our starter neighborhoods have all new homes and look very appealing; and they really are. Except there are going to be additional foreclosures within these neighborhoods in the near future so property values will be impacted negatively for years to come.
I do not share information to scare buyers but to assure my buyers are as informed as possible. In the long run these neighborhoods will do quite well; but it will take a while. How about other neighborhoods?
Foreclosures in older neighborhoods and at various other price points are a much better deal. You can still receive homes at a somewhat reduced rate but since foreclosures here are not the norm, the values will rebound more rapidly.
Learn more about Charlotte Real Estate, Charlotte Foreclosures ans Charlotte Suburbs by visiting my Real Estate Site. I try to provide an outsiders perspective so that you can learn before you buy.