Charlotte
North Carolina Housing Market is Bouncing Back!
The
Wall Street firm, UBS Securities, reports that Charlotte's housing
market could be among the first market to bounce back.
Analysts examined 13 regions, taking into consideration demographics,
housing inventory, affordability and other economic factors. Population
and job/economic growth helped push Charlotte to the top of the list.
Some of the big bank job losses are a concern but, all things
considered, growth continues to move upwards.
During the
'big boom' housing market, other areas showed higher appreciation than
did Charlotte, leaving Charlotte with a far less price margin to have
to overcome with the slow down. Our modest price
growth in the midst of other area's overheated markets, kept us from
feeling the 'hit' of recent housing plunges that other areas
are feeling. Home prices didn't explode, rather appreciated
much like a turbo turtle, giving us a more solid basis for future
downgrades.
The
Charlotte market, leading the pack of housing markets that are expected
to lead the way in bouncing back are followed by the Texas and Atlanta
markets, according to the UBS Securities report. Charlotte's
ability to recover is also driven by limited levels of the single
family home supply, affordability and robust economic and job growth.
Uncertaintity lies in just when
the market is expected to 'recover' but, our sales pace must pick up to
a viable level in order to sustain the 'bounce'!
Currently,
our rental inventory is doing quite well as Charlotte is home to a host
of newcomers who have been job-transferred to the area and currently
have homes for sale in other areas of the country.
These newcomers are unable to sell their homes elsewhere so,
property ownership is out of the question for them until which time
they sell their exit-city home.
If
you're thinking of buying in the Charlotte area as a non-resident
investor, NOW is the time! Charlotte's
prices are down, interest rates remain at a fair level and the time couldn't be
better. Purchasing property for short-term
tenants from the large banks and many other Fortune 500 companies who
have transferees here (waiting to purchase when their exit-city home is
sold) is a solid investment right now. Just make certain that
you're investing in an area that is most likely to have the greatest
amount of appreciation--working
with an agent who KNOWS the area is the only smart way to make this
investment!
About the author:
Debe
Maxwell, ABR is a Charlotte Residential Real Estate Broker, Certified
Neighborhood and Relocation Specialist who can assist you with the
purchase and/or sale of real estate in Charlotte, NC or any place in
the country by connecting you with a relocation professional in your
destination of choice. Debe has created a team of professionals
throughout the country to ensure that you enjoy a smooth transition to
your new area. These professionals are experts in the field of
relocation and can serve many purposes beyond a simple home search. The
destination service is of no cost to you! Please visit
www.debemaxwell.com/ for your relocation and/or your local needs.
Debe Maxwell- HELEN ADAMS REALTY - 704.491.3310 - Debe@DebeMaxwell.com
Copyright © 2008 By Debe Maxwell, All Rights Reserved.
*Charlotte North Carolina Housing Market is Bouncing Back!*
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Debe, Charlotte and parts of the Pacific Northwest real estate markets have weathered this economic storm far better than most. Thanks for highlighting the Charlotte area's strengths for purchase, rental and investing. And BTW, that is a gorgeous photo you selected. So much color, a lovely weather day and a peaceful pond. I just want to transport myself over to your area, say "hi" to you, and take a stroll around the water. It doesn't get any better than that.