Charlotte North Carolina home prices affordable?

Charlotte North Carolina is one of the fastest growing cities in NC
and the US. Prices are going up while other parts of the country are
declining.
Even though I already am aware of it, I am often amazed while watching
the “flip shows” on tv, at the prices people are paying in places like
California for a small house that is outdated or trashed. Many of those
houses flippers are paying 4-500,000 for houses there that would be
80-120,000 in Charlotte and other places in NC.
NODA, North Davidson Street, the arts district in Charlotte, was run down
just a few years ago. Now most of the houses have been restored and
instead of selling for 50,000 are now 200,000 and up. There are still
places in and around Charlotte where “deals” can be found.

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2 responses to “Charlotte North Carolina home prices affordable?

  1. Hi, its interesting to read about your housing market in the US. We are starting to experience the same here in UK and am are all afraid it is going to get much worse before it gets better. Have you experience a large increase in discount property purchases from investors?
    Daniel Morgan
    Independent Mortgage Broker

  2. The real estate market in NC is quite good. The pace has slowed a little
    but prices are going up. The discount market in recent years has been in areas that had deteriorated in the past but due to the influx of people in Charlotte and demand for housing near downtown, investors started buying up those homes and renovating entire neighborhoods. A fairly new trend in Charlotte, Greensboro and elsewhere is razing
    smaller houses in great areas and building larger ones.
    As far as investors jumping on depressed real estate markets, Florida
    is where I am seeing a lot of interest. Of course much of the problem
    is perceptions of buyer’s markets and that becomes a self fulfilling
    prophecy.

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