Are Some Cities Bust Proof?
You may be surprised to find out that there are some cities, Manhattan, Austin Texas and our own Charlotte North Carolina that have been weathering and even growing in the current market.
The real estate downturn has spread across the country ever since the credit crisis first began eight months ago. But there are some areas where that seem to be immune to the crunch or at least resilient—places like Charlotte, NC.
This is a natural cycle and right now we have a healthy buyer’s market as well as positive property value growth. This area has done really well, because it never got over-inflated, the economy here is strong and there are many great places to live.
While there have been changes, less new builds and increased sale sell times, Charlotte continues to show promise as a city which can not only survive but grow in the coming months.
So what if you aren’t looking to move? Smart investors can get in on some great opportunities right now. Since Charlotte remains a hot-spot people are still moving here at a record-pace. That said, many are coming from areas of the country where they are having problems selling their homes. This causes an increase in time a house here will be on the market and will lower the sale price. As the market strengthens around the country, there will likely be an influx of newcomers in the coming years. An investor who can sit on or rent out a home may stand to make a tidy profit.
Charlotte is one of the best cities to live in the US. The economy is good, the weather is near perfect and the people are welcoming—and it is still a great place to buy (and sell!) real estate!
Read more about bust-proof real estate markets.
Want more information about the Charlotte area real estate market? Check out www.richferretti.com
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