There are a lot of under-priced houses in Charlotte, NC and buyers are taking advantage of these. Many investors are buying these under-priced listings, making the house livable and then renting the properties for more than the mortgage payment until the housing market improves. They are taking advantage of the low interest rates, buying the houses at the bottom of the market and they will reap the rewards once the housing value start to increase. The market will turn around even though it may not feel that way. Once the number of foreclosures and short sales start to decline we expect that Charlotte will once again have one of the strongest housing markets in the country.
What will fuel this?
- Charlotte has a low cost of living when compared to other cities around the country.
- Our climate and location are great. We are 2 hours from the mountains and 3 hours from the ocean.
- The job market in Charlotte is expected to grow at a faster rate than most other major cities.
- Charlotte is attracting a lot of new companies that plan on entering our market over the next two years.
- The city is committed to growing the Uptown area to continue to attract the young/educated crowd.
- Mass transit is a huge concern to Charlotte leaders. The high speed train will be going through Charlotte on its way to Raleigh/DC. The city wants to put a large bike lane in the center city to promote healthier living.
- The above ground train, the Lynx, will continue to add more routes over the next decade.