As the sub-prime market further deteriorates, the demographics for cities like Charlotte Real Estate will continue to improve. Charlotte North Carolina is still in great demand but many future residents are on hold. Some were planning to relocate but missed their opportunity until they improve their credit. This will be a challenge for many since they currently reside in an economic environment that is over taxed and hyper inflated.
The new Charlotte migration will be the careful deliberate person that has great credit, a down payment and a good job. This will also dictate a change in demand for the Charlotte Builders and Charlotte Real Estate to adjust for their new clientele.
The investor market will also change. Charlotte Real Estate has had a slow steady growth for many years. Investors rushed in 2 years ago and attempted to distort our market when the rest of the nation was showing signs of illness. They were hoping to create a super inflated market as they had done in other markets.
The problem was they did not comprehend the big picture. They rushed into the lowest dollar homes in an area in hopes of the fast buck. The investors were racing with the most credit challenged people for homes. The mixtures desolated many great Charlotte neighborhoods. Instead of Charlotte Real Estate appreciation, they experienced negative appreciation. Why?
The lower income neighborhoods already had economically challenged home owners. When you add renters, you further diminish the value of the neighborhoods. The investors sabotaged their own investments!
There is hope for investors. There are many foreclosures in economically challenged areas. Those ex-home owners will need a place to stay and will be needing a place to rent. Those neighborhoods will be impacted for another 5 years but you can have positive cash flow as the market recovers.
Visit Charlotte Real Estate to learn more about the real estate industry and the greater Charlotte suburbs.
