Charlotte NC Luxury Homes Have Suddenly Become Affordable
Perhaps Queen Charlotte, for whom our city is named, the German wife of England's King George III, would have been so very proud of the little village in the Piedmont North Carolina area that took her name in 1768. In North Carolina's largest city, where downtown is now called Uptown, our former label, "New South," seems far out of date. Through tenacity, ambition and against all geographic logic, Charlotte has become America's second largest banking center (second only to New York City). Where else can you find such diversity? Charlotte continues to be an invitingly attractive place to live where a distinctive local culture so comfortably combines NASCAR and southern barbecue with worldly art and haute cuisine.
Luxury homes in Charlotte NC are an attraction for many relocating to Charlotte from across the nation. Charlotte's luxury home market has unbelievable square foot pricing but, can vary considerably in price based upon location. Moving outward from the Uptown area, Dilworth, Myers Park, Eastover, Elizabeth and Foxcroft are the city's luxury communities with close proximity to everything Charlotte. It is however, quite possible to have a luxury community placed directly opposite a less expensive development or home on the same block or even right next door. There are some streets and addresses which are synonymous with Charlotte luxury homes. Queens Road comes to mind as an example of the icon of luxury real estate in Charlotte NC.
Charlotte has attracted a number of boutique architects and developers, who design just one or two luxury community, which is/are immediately classified as a luxurious. Many of these are scattered throughout Charlotte, some of which command fairly high prices. In 2011, however, we are seeing quite a movement to affordable luxury homes in Charlotte. Despite the fact that Charlotte was, and still remains, one of the most stable real estate markets in the nation, we have seen a significant dip in all home values as well as a significant increase in supply, helping to make luxury homes in Charlotte more affordable.
A drastic reduction in mortgage rates, as well as home price reductions/values in the area are giving way to Charlotte luxury home buyers' dreams. If you're seeking to make a sound investment in luxury properties in the Charlotte NC area, now is truly the best time in decades to do so.
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