Many people are hoping to find a deeply discounted home within Charlotte Real Estate. Yes, the sub prime market created havoc throughout the natioanl real estate market. There are many things to learn and ways to recognize real opportunity. The first is to comprehend that every area is different and real estate is ultimately local in nature.
Charlotte is a new city with a lot of large farms (rapidly being purchased by major developers). The developerbuilds the infrastructure and then sells the lots off to large builders. The builders selected a "price point" based on the demand (and cost of the land) in each area. If the area supported million dollar homes, the builder was willing to pay more for the lots. If the area demand would support $100,000 homes, the lots were considerably less expensive. These less expensive developments (in any and each area) typically focused on the local sub prime buyers.
One area in Charlotte may have many sub prime homes in $100,000 Charlotte neighborhoods and another Charlotte Suburb may have many sub prime loans in the range of $200,000. It all depended on the less expensive homes in each given area. This has created a HUGE opportunity in Charlotte Foreclosures and Charlotte Short Sales!
Yes, there are new home developments in Charlotte with a high percentage of sub prime loans and now short sales. Is this an opportunity? It depends.
The sub prime market was dictated by the government and not lenders. The government persuaded the lenders to bow to their political pressure and make new loans. The lenders have extensive criteria for credit risk analysis and it was based on individual credit risk and credit history. This criteria was ignored for political correctness. The tax payers are now to bear the burden.
Opportunity? The super inflated housing market will clean itself up in time. Yes, it will take several years for eh high risk loans to all fail and real home owners to move into the challenged neighborhoods. These Charlotte Real Estate deals are not for he couch potato American watching TV shows for their real estate mentoring. Remember it is a TV show. TV shows are even more disingenuous than the news media!
These Charlotte Neighborhoods will improve over time. The foolish "get rich quick" investors will lose their investments (consider a social donations) and real owners will once again have neighborhoods reflecting the pride of ownership. This will take several years but in return you will have a strong investment, a safe and friendly neighborhood with shared ambitions and goals.
Learn more about Charlotte Real Estate by visiting http://www.FindMyCarolinaHome.com
