Union County and Charlotte Area a Real Estate Bonanza
People in the Northeast are finding a home purchase bonanza in the Charlotte, NC market. First of all, the job market in the area is greatly enhanced by the presence of large banking institutions, like Bank of America, Waxhovia and B B & T, and the other professionals and service oriented business they attract. Those that work in the banking industry, and others as well, in the Northeast, are usually subjected to long hours because of commutes. Their work-life ratio is way out of balance. When they buy a home in the Charlotte area, they aren't faced with those long public transportation commutes, and they are able to have the command of their day that driving their own car can provide them.
They also discover in the home search process that they are getting upwards of 3 to 4 times the home for their dollar than they are moving from. Home prices have risen in excess of 6% in Charlotte this summer compared to a 3.5% national decline. This is according to the S&P/Case-Shiller index.
Noted developer Donald Trump is looking at Charlotte for a condominium project on Tryon St., Charlotte's main North/South uptown street. Plans are not yet certain, and no closing has been made public, but it makes a lot of sense. Uptown Charlotte is busting with high-rise mixed use and condo towers. Unit prices in the first buildings were an affordable low $200,000s. The most recent announcements are for buildings that are priced upwards of $1M to $1.5M.
Lifestyles in the South are generally a little less urgent, and more lay back. Some transplants complain that the nightlife uptown to be too subdued. Others love the fact that they can enjoy professional football(Panthers), professional basketball (Bobcats), and be in the center of NASCAR racing activities, and one of the most state- of-the-art tracks in the country.
Want to get out of town for the weekend for golf, fishing, beach or mountains? Either is just a couple hours drive from Charlotte; a little longer I guess to beaches. But for some New Yorkers, no longer than it takes to get to the Jersey Shore. It's a great location with great weather, with an abundance of opportunities to improve the work-life ratio, and enjoy family more.
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