When the national economy took a down turn, much of the greater Charlotte Real Estate market was in full bloom. There was expansion planned all around and developers were purchasing land an hour away expecting to take advantage of the tremendous population growth. The questions now arise, were the developers realistic? Did they really understand our economy? Did they understand the demographic trends that drive an Economy? Perhaps many just not very bright and "thought" it was going to happen?
A bit of each is true for various developers. The Charlotte expansion will continue to happen and evolve. There is a trend towards the suburbs and this growth is definitely continuing. The developers also did not consider the reasons why people move to the suburbs. Many developers purchased land an hour away from Charlotte NC and began constructing homes on "postage stamp" lots. Most people that move "that far away from the city" have no interest living in a city environment. They do not want to pass sugar from one window to another. They had enough of that! That is largely why they moved!
Some areas, like northern Union County decided that the wave of luxury homes buyers was never ending. Thousands of luxury homes were built and thousands more were planned! Was this really sustainable? Do not misunderstand. These homes are done with great craftsmanship! They are really incredible! But many were also built on tiny, less desirable lots. Purchasing a million dollar home is a level of success that few really obtain. By the time that level of success is realized, the last thing you want is to hear the neighbors stereo with your windows shut! Nor do you want your neighbor to hear you! You have earned your privacy!
What is the fate of the greater Charlotte Real Estate market? It will definitely continue to grow. There will be a point of balance somewhere down the road. The nation has not yet found its balance. Two major sectors are Florida and the Northeast. There are many Floridians desiring to depart. Nothing against Florida but it is not for everyone. The northeast, where I was born and raised, does not have a desirable climate for many. There are too many overcast days, winters are too cold, too much snow and then the summers too short. Especially as the population ages, there is less desire and interest for long cold winters. So how will Charlotte measure up in the future?
Charlotte Real Estate is poised perfectly between the mountains and the beach. The drive back to the northeast is bearable in case of an emergency. Charlotte is the largest hub for US Airways which will remain attractive for business. The cost of flying far less than consistent so people like the option of driving as required. Everyone lives under a different budget but there are options.
The surrounding counties have a lot of options but many will take years to develop. Yes it will take time for the immediate areas to "catch up" to what was planned. It will take several years to catch up to the building that was already planned. For some of the more remote areas, it will take decades at least. When relocating, it is wise to consider your actual daily life. Please be realistic and do not believe your patience and lifestyle will instantly evolve since you have relocated. Shopping (especially grocery shopping) should be within 10 minutes. Other shopping should be within 20 minutes.
Call me and together we will discuss your future plans and I will help you find a great deal. Charlotte Real Estate does hove something for everyone. Just be honest with me and most importantly, with yourself. We will find that ideal Charlotte Home for Sale today!