Charlotte NC|International Buyers Like Charlotte’s Rising Home Prices, Weak Dollar
November 13th, 2007 Categories: Real Estate News
The Charlotte NC real estate market continuing price increases through out 2007,
and a desire for better value (away from big city’s like New York) have led several international buyers, individuals and groups to my sites searching Charlotte Real Estate, all since the start of the year. And as many wise investors have noted, there had been NO Bubble in Charlotte!
The dollar is on sale,” said Susan Wachter, real estate professor at
the Wharton School at the University of Pennsylvania...For example, the last time I checked $50,000 was equivalent to 34,100 euros and that figure was 37,920 euros in January
of 2007.” (from a recent AP article)
If your holdings are in Euros, that is a 10% decline since January-
- and the pound is almost to the same record low. So, US real estate, already a prime investment candidate and a favorite travel destination, just got better!
Their interests are varied– 2nd homes: golfers, horse lovers and even some resort style property here… and singles and multi-family for investment.
Why Charlotte? I keep asking, but this is what I am hearing–
- A central East Coast location with a great airport, loads of international flights and a sizable international population. An easy day drive or short flight to popular destinations in Florida or Washington DC.
- A temperate 4 season climate– long spring, summer and fall, with a snow and cold shortage…A “just right feel” Not too hot, not too cold….
- Culturally comfortable- the South is still friendly! I think the typical citizen of the UK or western Europe appreciates our variety- in a few hours you can be at the beach or mountains
It may just be that Charlotte’s rock solid valuations, our investment fundamentals are that strong. It may be lack of confidence in other US markets frequently favored to our south… whatever your reason, I am here for you, or your group, and I’ll help you find exactly what you are looking for here.
UPDATE! 11/13/07 Forbes Magazine explains why Charlotte Real estate is such a good value NOW!
See pictures here at my smugmug galleries: The Palisades, Ballantyne Country Club, Myers Park, SouthPark, High Gate
Call me direct at 704-351-1519, and I’ll see you in Charlotte!
What a thought? The dollar is down, so US real estate is on sale for international investors.
I’m not sure Alaska Real Estate will be as popular to international buyers as is Charlotte Real Estate.
Terry,
Heck you convinced me…if I had euros I’d get myself a 2nd home in a minute and head for the beach.
Looks like you enjoy writing about your communities as much as I do about Sacramento.
-Gena Riede, Sacramento Real Estate Broker
Canadians are probably coming to Charlotte more and more these days as Florida hurricanes have our Canadian “snowbirds” (those who winter in Florida) scared off. As a Charlotte real estate expert, let me know if you are seeing many folk from Ontario. (BTW are you on mybloglog? I haven’t noticed you showing up on my visitors list, even thought you’ve been to my blog a few times. Happy selling, glad your market isn’t tanking. Hilary
Terry - I have been seeing the same thing here. I have been contacted by buyers from France, England, and Iraq. I think the International buyers are going to explode with buying power in 2008. - Ashley
[…] America, has continued to expand even as Wall Street takes its lumps.” (bold is from me- and international investors are noticing […]