Charlotte NC|Only Objectively Affordable City on List says Radar Logic|Fastest Appreciating City in the US, says Standard and Poors
November 28th, 2007 Categories: Real Estate News
Charlotte NC- Undervalued, Affordable and Appreciating Still! And South Charlotte is leading the way
“The only objectively affordable city on the list is Charlotte, N.C,
whose price per square foot is third cheapest in the country,” according to Radar Logic, a New York-based real estate research firm, as cited by Forbes. In these “undervalued” cities, “the real estate boom was driven by sustainable factors like job growth and economic expansion,” Forbes says, so says The SeattlePI.com quoting Forbes and Radar Logic-.
Charlotte Top of Five Appreciating Markets of Top Twenty US Housing Markets
Each month S&P/Case-Shiller® Home Price Indices ranks the top twenty US housing markets– it gave them a base line index of home prices in the year 2000, then has ranked them monthly since. Charlotte ranked 2nd in growth in home prices over a year ago. The news on the whole was Not Good for the housing market, with 17 of the top 20 markets in decline, price depreciation from a year ago. Here then are some of the winners and the losers, comparing August ‘06 to August ‘07: Charlotte home prices up 5.6%, Seattle home prices up 5.6%,Portland home prices up 2.8% – Atlanta and Dallas had increases of less than 1%
The losers, over 5% drop in value: Las Vegas, Detroit, Miami, Tampa, Washington DC, San Diego, and Phoenix leaving another 10 markets having lost in value less than 5% from last year. Trust me, this has lenders worried (terrified?) across the nation.
Interestingly, Charlotte’s 5.6% is higher than our 7 year average, of about 4.6% annual appreciation. I feel this latest research confirms the long line of folks who recognize Charlotte for its outstanding real estate fundamentals, what led Radar Logic to conclude that Charlotte was the 3rd most undervalued city in America., and what makes Charlotte an island in the storm for those wishing to invest in United States real estate, residential, commercial or land.
I said South Charlotte is leading the way, indeed it is on the residential front. A full South Charlotte Market Report is under way and will be posted soon. Stay tuned.
Commercially, its hapenning Uptown, and in Ballantyne and South Park, and along the South Blvd light rails line, and… you get the picture, the city is full of cranes!
A couple of other recent articles about the terrific Charlotte real estate market by Forbes.com and ABC News 
You can learn more about me at Terry McDonald Real Estate.com or visit my Online Relocation Guide with Terry’s video Intro to Charlotte
People interested in moving to Charlotte, investing in Charlotte, or buying in Charlotte, you deserve expert representation. Give me a call and a try out, and I’ll work every day to make you a raving fan. Terry McDonald
Call me direct at 704-351-1519, and I’ll see you in Charlotte!
[...] desconocido wrote an interesting post today!.Here’s a quick excerptCharlotte NC- Undervalued, Affordable and Appreciating Still! And South Charlotte is leading the way. “The only objectively affordable city on the list is Charlotte, NC,. whose price per square foot is third cheapest in the country,†… [...]
A terrific article about Charlotte real estate, job growth and economic surge. Now is the time to take a trip to Charlotte NC and buy affordable property. Will need to call on Terry McDonald the expert Realtor for Charlotte, South Charlotte and Southwest Charlotte!
[...] Check it out! While looking through the blogosphere we stumbled on an interesting post today.Here’s a quick excerptPeople interested in moving to Charlotte, investing in Charlotte, or buying in Charlotte, you deserve expert representation. Give me a call and a try out, and I’ll do my best to make you a raving fan. Terry McDonald … [...]
That kind of news definately provides Charlotte a competitive edge in the real estate market.
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