There are many changes occurring in the greater Charlotte Real Estate market since the national economy has changed. There were many investors that moved into the greater Charlotte Real Estate region after Katrina and the Florida Hurricanes in 2005 in addition to many credit challenged people.
There were three primary types of investors that moved into the Charlotte Real Estate market. The first was the new home investor. Several Charlotte Investors were purchasing Charlotte Starter Homes in new neighborhoods. They were making deals with builders to purchase homes in bulk for great discounts. In addition, the Charlotte Investor could be assured of no maintenance for a year and minimal maintenance for several additional years until they decided to sell. Each investor thought they were the only one doing this and every other investor in the nation did not read the same articles published throughout the nation about Charlotte's growth, affordable real estate and a great place to invest.
The problem with their philosophy is the renters within "new home" communities tanked the neighborhoods. New homes need a proud home owner to take care of the grass, landscaping, invest in window shades and much more. The renters did not do this and the neighborhoods reflected the "rental mentality".
Another group of "investors" wanted to purchase resale homes in established areas. They targeted areas that were very popular but inundated the least expensive neighborhood in such areas. The problem once again is that they did not operate in a vacuum! Many investors purchased homes within each community and Every one's home value plummeted with the new neighbors. It does not take too many renters hanging out to destroy property values.
The third group intentionally worked in concert and would pick a "Revitalization" neighborhood. Multiple investors began purchasing these homes, converting simple conservative homes into modern and updated cottage style homes. The problem is that the naive buyer did not realize the "demand" was falsely created and that there was no economical sustainable reason support those types of upgrades in those areas.
Where are the opportunities today? The first are the Charlotte starter neighborhoods. These neighborhoods are still having many foreclosures and short sales. These neighborhoods are so overwhelmed with renters that it will take time to weed out those home owners.
The superficially inflated neighborhoods will likely be reclaimed by the original inhabitants. Many of those people are realizing they are surrounded by negative factors and it is time to move their family into safer housing. Many of these buyers are now having families and need to find a safer place to call home. They are having trouble finding qualified buyers to relocate into those areas. The talk of "the entire" greater area being revitalized is now too far off in the future to imagine.
The affluent suburb neighborhoods will recoup the best. As investors lose their tenants and sell, the communities will return to their natural states based on sound economic and educational factors.
There are several examples of these neighborhoods. Visit my Charlotte Real Estate site to learn more about the great Charlotte Real Estate region and discover the opportunity in purchasing Charlotte Homes for Sale.
