Hey everyone!

I am a real estate agent in Charlotte, North Carolina. Although things are changing the real estate market isn't really slowing down here like it is in other markets. We are still selling a ton of real estate and new developments and investment opportunities are becoming available every day!

charlotte's kind of weird.

all the new development in the area has slowed alot of the appreciative value of "older" homes built in the 90's. they're mint houses in a lot of areas but they're just not appreciating.

i sold a house in 2001 for 111k - in the university area. i bought it for 99 -14 months later i sold it for 111k

that same house is worth 114k today - 6 years later.

clearly the area isn't slowing down though - what over 50,000 people move their every year. they can't build'em fast enough! lol

the surrounding areas are really taking off too. Charlotte, per se isn't really the big draw (except for "lower" middle class)

it's the outside surrounding areas that are really taking off.

your thoughts?

welcome to the forums by the way... :D

I think that is true depending upon the area of Charlotte you are in. There are a lot of hot areas within Charlotte's city limites right now. A 50 story condo complex is being built on trade and college and another 50 story complex is being planned for Charlotte's Fourth Ward. I think that the new construction is definitely playing a part in the resale of previously owned homes...especially ones that have been built in the last 10 years. But again, it depends on where you are...Union (NC) county is growing super fast and now Gastonia is supposed to be one of the new hot spots...Oh, and Lake Wylie is slowly turning into Lake Norman...which has boomed in the last 5 years like crazy. Charlotte's market is definitely unique and with the influx of people coming here, whether retiring, or for corporate relocation, or just for a change of weather and scenery the sales market isn't as bad here as it is in other parts of the country. The fact of the matter is when it comes to buying a home, people would often times rather choose a house they can customize rather than a house that comes with a history, unless of course if it is a classic style home that is hard to find and even more difficult to duplicate.

i had some land slip through my fingers in Gastonia a few months ago - a steal. i got undercut - broker i was working with kept dragging his butt.

it was 4 acres with really good frontage - over 250' in a nice area for like 22k (if memory serves)

lake wylie huh.

what's shakin there? where's it at - North of Charlotte?

Lake Norman BLEW UP. a friend of mine owns a building company there - Jasper Builders - his company is just taking off.

Originally posted by "spizzo":
Hey everyone!

I am a real estate agent in Charlotte, North Carolina. Although things are changing the real estate market isn't really slowing down here like it is in other markets. We are still selling a ton of real estate and new developments and investment opportunities are becoming available every day!

Whats the rent range on SFH's in the 110K-$150K range with 3 bed, 2 bath.

I have been interested in Charlotte, but as noobdog1 mentioned the appreciations seems stagnant, yet there seems to be a lot of continuous activity.

Hello Spizzo,

and welcome to our forum. We're glad you're here!

Gastonia is supposed to be the next big thing, it is west of Charlotte. As far as rent on SFH it really depends on where the house is...the hot areas right now are Uptown, Lake Norman, Lake Wylie, Union County (NC) so the weddington area, and South Charlotte-ballantyne area. If you are interested I can find out more info on the best value for a 3/2...Lake Wylie is another area that is growing...it will be like lake norman, although there is a house for sale by someone in my office for 350k, it is on lake cove with an outlet to lake wylie, with water access and a dock, it is 2000 sf...I would be surprised if the value didn't increase a lot in the next two years!

I am sorry that you feel your realtor was the cause of a good deal getting away, I know how frustrating that can be! There is still a lot of acreage left in Gaston County, some is really expensive and some isn't. Another area that is exploding is a little more south...in Rock Hill...you might want to think of some areas of SC too when it comes to land. If either of you are interested in trying to find investment property I am more than willing to help... you can call me at my office or email me and we can discuss in more detail what you are looking for.

Sarah Pizzo

as far as investors are concerned. I know the term safe is a relatively subjective term when it comes to real estate but I am talking more along the line of what neighborhood/area can one stand to make a fairly significant gain with a 15-25K cosmetic rehab/update?

I am looking for new and emerging investment markets on the east coast.

Spizzo,

Welcome to the forum. I use to advertise VA refi's in NC and boy did I get a great return. But, this is when the rates were 3.5% on a 3 yr adjustable.
Yea, your State is growing very nice.

:welcome:

I'm a realtor in Chicago and I have some college friends that live just outside of Charlotte. They currently rent near tyvola and rt49. Is that a popular area? Which part of the city will have the next boom?

Thanks,

David Rocci