Just like the old saying-All Politics is Local, the same is true for real estate. Locally, the Mecklenburg-Iredell County and Lake Norman areas have proven to be one of the best real estate markets in the country. Prices in the 13 counties around Charlotte have increased roughly 5% this year. Our units are off about 10%, but that is mostly due to other parts of the country where sellers have a hard time selling and can't get here yet or need to rent here until the house back home gets sold.
We are really fortunate in our market. Lowe's Corporation's 10 year build out to 15,000 employees at their corporate headquarters in Mooresville is only about half done. Lowe's vendors who need to be close by should bring another 20,000 to 40,000 people to work in the area over that time. The huge Lowe's Distribution Center in North Iredell and the Lowe's Hanger with over $100 million in aircraft at Statesville Regional Airport are contributing to growth, too.Our NASCAR racing industry is becoming more high-tech and high-paying every day, with about 100 teams and hundreds of suppliers within an hour of South Iredell. Lake Norman provides a casual lifestyle within commuting distance to most Charlotte companies. Two of the country's largest banks, Bank of America and Wachovia, make their homes here, and Charlotte is a hub for US Air with hundreds of daily non-stop flights to America's major cities. It also doesn't hurt to be a couple hours from being a mile high in the Blue Ridge Mountains and about 4 hours from some of the widest beaches on the east coast. No matter what has happened the last few years, our 13 county region keeps creating 20,000 to 25,000 new jobs per year.
Check out home prices in our region, too. We are affordable compared to most regions of the country and our property tax burden is less than almost all major metros around the country. Check us out.
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