#1 Best Place to Live
#9 Recession-Proof City
High Foreclosure Rates? 
#1 Best Place to Buy Foreclosed Homes!
Is it possible for one city to be America's #1 Best Place to Live on the Relocate America Top 100 Places to Live in 2008 list, #9 most Recession-Proof City in America on the Forbes.com America's Recession-Proof Cities list, AND still have High Foreclosure Rates? The answer is yes, and that city is Charlotte North Carolina.
Add it all together and you will find that Charlotte is America's #1 Best Place to Buy Foreclosed Homes! I completely agree, since Charlotte has one of the most active real estate markets in America right now, it is one of the few areas in the country that experienced an increase in property values during 2007, and there are some real bargains available right now.
Statewide North Carolina ranks #25 in RealtyTrac's State Rankings by Foreclosure Rate list for 2008 Q 1 with one filing in every 392 households and a total of 10,283 filings in the state. The Charlotte/Gastonia area was ranked #53 on realtytrac's Metro Area Foreclosure Rankings list. There was a decrease in the foreclosure rate as compared to the 2007 Q4 (Good News)! However, there was a .75% increase as compared to 2007 Q 1. Based on that information it seems that North Carolina's foreclosure rate is still at a fairly high rate but leveling out.
Even though there are many cities across the country with higher foreclosure rates than Charlotte I still see them everywhere! It would be VERY interesting to see statistics combining the instance of all distress sales, including foreclosures/pre-foreclosures/short sales.
Great deals 
can be found on foreclosure properties as well as pre-foreclosure/short sale properties in Charlotte and the entire Metro area, including Concord, Kannapolis, Salisbury, Mooresville, and the Lake Norman Area. Fortunately, these properties are selling very well right now, since people from across the country are continuing to relocate to North Carolina in huge numbers.
Executive Realty, the firm that I'm associated with, is located in Concord NC and at this time my business is dominated by foreclosure/pre-foreclosure/short sale SALES and by short sale LISTINGS. I have a lot of experience with foreclosure/pre-foreclosure/short sale properties, and would appreciate any referrals that you send my way! I'll do a GREAT JOB representing all of your referral clients.
Comments(4)