Charlotte Neighborhoods that are Changing

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.

Charlotte Real Estate Market Update

The greater Charlotte Real Estate market remains extremely healthy and strong! What? How do you come to that conclusion? It takes an understanding of Charlotte Real Estate and the property opportunities are clear.

The latest report says Charlotte Real Estate depreciated a little over 1% during the past 12 months. That does not sound tragic but this does not make a good real estate investment. Let's break down the Charlotte Real Estate market and then you decide.

Charlotte is a new city and many of the home sales are new homes in new Charlotte neighborhoods. What happened when the government provided home owners with high risk loans? There was a rush of new home buyers that were not ready to be home owners. Many of these people across the nation rushed to Charlotte NC Real Estate. They purchased Charlotte Homes in new neighborhoods and frequently in the lower cost new neighborhoods. These Charlotte Neighborhoods have a high percentage of Charlotte Homes in foreclosure. What do you think is the appreciation in these neighborhoods? These neighborhoods have depreciated and will take some time to recover. What is their appreciation rate? It is negative and worse than the majority of other homes. Yes, these drag down the remainder of Charlotte homes for sale when you look at the overall rates.

There are also some neighborhoods that Charlotte Real Estate investors decided to rehab. What? Yes, there are certain older neighborhoods that investors across the nation took a small quaint Charlotte neighborhood and then changed the market. They increased the size of the homes, added granite, hardwoods, tile and then doubled the price. These neighborhoods experienced a frenzy of excitement but the fundamentals of demand were not sound. The inflated appreciation of these neighborhoods have not done well.

You will also notice that Million dollar Charlotte homes has also taken a hit. Many of these homes were purchased in the excitement of a rapidly growing city and the buyers did not have a sound long term economic strategy. These homes have taken a hit and not selling as rapidly. How does that impact the market? If 100 million dollar homes sold last year during the summer and then only 10 sold this year, the aggregate numbers will show sharp depreciation if the difference of 90 current homes sales are in the $250,000 range as opposed to a million.

In conclusion, you will see that the Charlotte Real Estate market is still very strong and enjoying a nation wide real estate demand. How do you know a good buy? What is a good value and which homes are not? As a Charlotte Real Estate Agent and my firm understanding of the economy we can assure you find a great Charlotte home for you and your family.