Many people are siting back and hoping the greater Charlotte Real Estate Market declines to obtain discount homes. There are certain areas in Charlotte to obtain discount homes. The areas for the discounts are several. The first is obviously the areas of the least demand. Builders began many starter Charlotte neighborhoods that was fueled by high risk loans. High risk loans defaulted and there are many foreclosures. In addition to high risk loans in these neighborhoods, many foolish investors also purchased these inexpensive homes. Now you have Charlotte neighborhoods with rentals and foreclosures. It will take years for many of these neighborhoods to turn around but you can have potential equity in your Charlotte home.
Another place to find discounted homes are with inner city town homes. This was a new market and investors surged the new Charlotte town home market and the prices were super inflated. The prices are more in-line with value. The price decrease is based on a superficial demand but is adjusted back to true demand.
Another area of deep discounts are in million dollar homes. Many builders have offered deep discounts on their new homes. This market has slowed and builders must readjust their bottom lines.
Unfortunately for the discount buyer, areas of high demand are still selling at a premium. Lets look at Waxhaw Real Estate. I personally checked recent sales in Waxhaw between $175,000 and $250,000. There were 43 single family homes sold over the past 3 months. The sale prices were 97+% of list price.
If you are seeking discount Charlotte Homes, consider he discount neighborhoods. Many of these neighborhoods are higher risk investments but with higher risk comes higher rewards. If you have other concerns for your family beyond a discount, I am very familiar with all aspects of the Charlotte Real Estate market including taxes, commute times, traffic concerns, schools and so much more.
Visit Charlotte Real Estate for in depth information about the greater Charlotte Market.
