As the economy continues to stagger, Charlotte Foreclosures remain a strong Real Estate option. Investors flooded the Charlotte Real Estate market a few years prior to the financing meltdown. Charlotte NC Homes for Sale were touted nationwide to be a great Real Estate Investment and Investors by the thousands swarmed to purchase homes. The vast majority thought their ideas were original not realizing that all of the other investors were doing the exact same thing! Investors purchased many homes in "starter home" neighborhoods and the result was plummeting values! As more investors moved in, rentals dominated and market values declined. It was really sad to see the effect on such a scale. The result was Charlotte REOs, Charlotte Foreclosures and Charlotte Bank Owned Homes!
Charlotte Starter neighborhoods were the least expensive new homes in any given area. Investors felt they could buy a new home, everything was under warranty, minimal risk of actually doing any major repairs and the ability to resell the home at a profit in 2 or 3 years. The problem was their renters dragged down the values so much that the resales were for a loss.
There are opportunities and each neighborhood is different. It can be a starter neighborhood in a depressed area or a starter neighborhood in a more popular area. Naturally the market value of the home will show you how depressed the area.
Do not rely on Tax Values! I will share how to understand tax values to aid in your assessment. The best Charlotte Foreclosures will continue to sell quickly! Visit my Charlotte Foreclosures web page for more information. Knowledge is key!
