Charlotte Homes

Investing in Charlotte Real Estate

Many of my clients have had to take significant losses when they sold their previous homes but after they realized what they could afford to buy in their area of choice, they were wondering why they didn't cut their losses sooner.  A lot of sellers are scared to take a loss on their house, when in fact it makes financial sense for them to do so if they are planning to buy a more expensive house where they can regain the loss. 

• Interest rates are at all time lows, so you can sell your house at its current, higher, interest rate, get into the home of your dreams, and your monthly payment may not rise much...remember that interest rates control your monthly payment just as much, if not more than the list price.
• If you are an investor, this is a great time to be adding to your portfolio of rental properties.  There are a lot of renters in this market that do not have the credit to buy.  What better time to buy an investment property than at the bottom of the market (price-wise), all time low interest rates, and an increasing number of renters.
• Charlotte, NC will always be a popular place for the young workforce, retirees, and investors.  The amazing climate, educated workforce, an Uptown that is constantly growing, a diversified arts community, Charlotte's airport, and close location from the mountains and to the ocean will keep Charlotte on the top of many home buyers list of places to move. 

Charlotte, NC was recently ranked the #8th healthiest real estate markets in the country.  Charlotte never experienced the extreme bubble prices like many of the other cities.  Charlotte is expecting to add enough jobs to keep up with its' growth and will continue to be a popular city for home buyers and investors.

Homes For Sale in Charlotte

In today's real estate market it is harder than ever to keep track of the market value of your property.  With so many short sales and foreclosures...the area's value can really change in a short period of time.  Some areas that are/were desirable have seen price decreases and may be rebuilding a different, not so popular, reputation.  

Our company, Allen Tate, has developed a program to help our clients keep track of their largest investments.  We call it Tate Drip.  It is a program that emails our clients once a day/week/month...whatever you prefer...to inform them of the market conditions in their area.  This email is also sent to the agent and it is an easy way to keep track of the home values in different subdivisions throughout Charlotte, NC.

The program will email you, the client, and inform you of any and all MLS changes that occurred in your area.  It will show you the houses that are for sale, their list price, the subdivision's average list price, sale prices, average sale prices, houses that are under contract or have price changes as well as information on houses that are just entering the real estate market etc.  This is certainly an email that brings value to our clients and I often get emails thanking me for the updated information that is being automatically generated. 

The agent does need to be a little tech savvy to use this program.  (Another reason that young Realtors are striving in this market)  If you live in Charlotte, NC and want to keep track of the value of your home, I would happy to enter you into the program.  All I need is your house address and email address.  Also, let me know how often you would like to receive the email.  This program is suppose to bring value to homeowners, not spam their inboxes. 

Wow...there are some real deals and some real busts in the foreclosure market.  I have viewed about 10-15 foreclosures in the last 3 weeks and every one of them was interesting and had its' own story.  Most of the story is told by the black mold, torn wallpaper, busted windows, broken cabinets and missing AC units.  One was even covered with what could only be explained as bullet holes.  Okay, I must say, none of these homes were listed for more than $100,000 so you can begin to imagine the setting. 

There were a few properties that had great potential.  With a little cosmetic work and several weekends of hard work and sweat, one could probably make a good investment by buying these properties.  Always check the foundation for cracks.  If your investor is going to finance the property, the home cannot have black mold or bad stuctural damage.

Finding just the right home to buy, fix up and hopefully even flip is the challenge.