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Charlotte NC|Forbes.com Declares Charlotte 3rd Most UNDER-Valued Real Estate Market in the US

November 17th, 2007 Categories: Charlotte Business

From Forbes.com,November 13, 2007 About Charlotte North Carolina Real Estate…

“…You’re most likely to find undervalued real estate in cities where the real estate boom was driven by sustainable factors like job growth and economic expansion–like Charlotte, N.C. The city has quietly become one of America’s leading financial centers: Its banking sector, anchored by Bank of America (nyse: BAC - news - people ) and investment subsidiary Banc of America, has continued to expand even as Wall Street takes its lumps.” (bold is from me- and international investors are noticing too.)

Ahem… I think I’ve said this,

… as in No Bubble Here , and here note the last line and this 3rd Quarter Market Report

We’ve grown the old fashioned way: adding jobs and more and more people just want to move here.”

Full Forbes Article The Forbes writer , Matt Woolsey goes on to say, “So there’s big money in Charlotte. But based on price-per-square-foot numbers from Radar Logic, a New York-based real estate research firm, the city boasts the third-cheapest real estate in the country, behind Detroit and Atlanta, Ga. Detroit’s woes are well worn, and Atlanta has an inventory glut and a fast rate of home construction. But Charlotte is without an inventory problem and has a dipping rate of home starts, according to NAHB.

So where are the deals in Charlotte Real Estate?

There are deals in new homes as builders shed inventory -all price points, there are excellent multi-family opportunities, and if you are considering opening a new business, a franchise, or a professional practice, come to Charlotte, where the economy hums, new business entrepreneurs are welcome, and real estate is - not cheap, but you get more for your money. You’ll save on your taxers and insurance too in this business friendly city. Can’t give away the store here, My competitors read this too) but there are great deals here on property that is nationally undervalued. And from Europe, it is even cheaper, I have folks from Italy this weekend.

Oh, did I mention there is just about no winter here? People move here all the time, or buy 2nd homes, for the climate alone.

So who is buying in Charlotte?

Certainly the affluent, where the national market doesn’t bother them. Since October 1, therehave been 179 sales of homes over $600,000- there were 50 over $1Million.

In addition, 2nd home purchases to live in part-time (we’ve had at least 3 “grand-mother” purchases this year”) and the transfers, folks whose job has moved them here, and still a number of other families moving my chocie.

We are Buyer Agents, we represent only you in Charlotte NC and Upper SC,

and you can learn more about us at my real estate website.

Never been to Charlotte? See pictures of Charlotte neighborhoods here at my smugmug galleries: The Palisades, Ballantyne Country Club, Myers Park, SouthPark, High Gate
… take your time, there are about 30 awesome galleries!

Planning a visit? I’d love to show you around, see some homes and the city too! Call me direct at 704-351-1519

Bookmark to:

This entry was posted on Saturday, November 17th, 2007 at 6:36 pm and is filed under Charlotte Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. CharlotteCommunitiesOnline » Charlotte NC|International Buyers Like Charlotte’s Rising Home Prices, Weak Dollar said at November 18th, 2007 at 5:13 am

   […] 11/13/07 Forbes Magazine explains why Charlotte Real estate is such a good value […]

2. Alex Clark said at November 18th, 2007 at 9:45 am

   How’s Cornelius? Feel free to email me directly. I have three rentals in Caldwell Depot. And thanks for reading my blog!

3. admin said at November 18th, 2007 at 10:15 am

   Caldwell Station? (Depot) is great! prices up, and MORE sales than this time last year. Median price around 108– last was around 96-98… not bad at all. The future Caldwell? Try Antiquity in Cornelius, have a look, http://www.charlottecommunitiesonline.com/2007/11/03/a-real-bargain-in-antiquity-cornelius-ncmajor-buyer-incentives-from-meeting-street-homes/
   Thanks for stopping by- Terry

4. Charlotte NC|Forbes.com Declares Charlotte Most Undervalued Real … at Real Estate Attorney South Carolina said at November 18th, 2007 at 6:52 pm

   […] Original post by admin […]

5. Karl Burger said at November 19th, 2007 at 7:00 am

   Great post Terry. I didn’t know the Charlotte real estate market had so many great values compared to other parts of the country. Seems like Charlotte is a great place to be buying and investing in real estate. Thanks for making the great information available.

   Karl

6. CharlotteCommunitiesOnline » Charlotte North Carolina Real Estate|It Just Keeps Getting Better! ABC News said at November 19th, 2007 at 7:58 am

   […] about it for 12 months! There is NO BUBBLE HERE! The full story from ABC and a similar story from Forbes. com ( I am not paying these guys […]

7. CharlotteCommunitiesOnline » Charlotte NC|Demand for Office Space is Tight, despite national trends, so says the Wall Street Journal… said at November 20th, 2007 at 7:54 am

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8. Gena said at November 20th, 2007 at 8:01 am

   Jobs are key and that’s what makes the difference. Your City officials obviously have done a great job in bringing job growth which in turn makes for great investments.

   Sounds like a wonderful place ot live and to invest.

   - gena riede

9. Paula Henry said at November 21st, 2007 at 4:45 pm

   Terry - When we left California about 4 years ago, the moving company told me North Carolina was their top destination for people leaving California. Sounds like they keep on coming and Charlotte is the place to live. - Paula

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