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Charlotte, NC: NO VACANCY in Uptown!

By Debe Maxwell, CRS

Real Estate Agent with Savvy + Company (704) 491-3310 228209

December 20, 2007 07:09 AM

Our Uptown Charlotte area is BOOMING! From a 16.6% vacancy rate in 2005 to UNDER 1% rate in 2007 Q4, we are bursting at the seams! Landlords in the Uptown area are confident, reflecting $30./square foot cost, an increase over last year. Contractors & developers are also very confident with continuing to build, some saying, "We just can't build fast enough!"

What incredible news for our ever-expanding banking center! More office space is not expected in Uptown until 2009 when 6 more towers are expected to be complete. Where will we go from here? Dilworth, SouthPark, South Charlotte, Ballantyne...

Here's to a GREAT 2008 in our beautiful, booming city! Happy New Year!

Debe in Charlotte, NC

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ActiveRain City and State Listing Group

Christiansted, VI

By adding commentary to the numbers, you help us get a better picture of what the numbers mean to the consumers considering a particular area.

Short and sweet makes it interesting,

Thanks

Dec 31, 2007 12:17 AM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Don--As always, thank YOU for your comment. I appreciate your opinion! Happy New Year!

Dec 31, 2007 01:54 AM

D B

Quakertown, PA

e-PRO, Realtor - Bucks County PA - 610-952-3578

Hey Debe: I have commented on your blog before. Here is to a great 2008 for you as well.

Happy New Year!

Dec 31, 2007 02:32 AM

Don: Thanks for 'stopping by' again then! Here's to a great 2008 for us ALL!

Dec 31, 2007 03:00 AM

Anonymous

Zack

Hi Debe,

I'm curious of your thoughts on the uptown condo market vs dilworth from a resale perspective. With the uptown market being flooded with these condos that are very similar and have $400/month association dues do you think there is good resale potential when you may have 30 similar units on the market with in a couple blocks.

Thanks,

Jan 10, 2008 12:11 PM

Zack- Although the HOA dues seem outrageous, the proponents of the Uptown market believe that you can live and work, all within the 2-mile confines of the Uptown area and won't need to own a car. Many have sold their cars and use taxis or rentals to leave the inner city area. They feel that this outweighs the higher HOA dues.

The units ARE selling and the developers/builders continue searching for more property on which to build in the Uptown area and have not slowed pace. The developers will be the first to feel a down market and the condos just continue to sell, sell, sell!

As for Dilworth--this area has always been a good investment area and appreciation continues to climb in Dilworth, Myers Park and Eastover even when other areas level out.

Let me know if I can help you find a condo--in either area!

Jan 10, 2008 12:41 PM

Charlotte, NC: NO VACANCY in Uptown!

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Debe Maxwell, CRS

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