Dec
27
Charlotte, NC Real Estate
December 27, 2007 |
The following is a sponsored review for The Club at Longview:
The Charlotte real estate market is an interesting one, as it’s managed to hold up fairly well in the last year while other regions of the country (I’m looking at you California and Florida) absolutely fell off a cliff, as far as real estate values go.
Relatively low taxes, a strong job market, and affordable housing has boosted the real estate market in Charlotte as well as Lake Norman real estate and other areas, with a wide variety of Charlotte homes available at both ends of the spectrum, from ritzy, custom-built homes on golf courses to affordable SFRs for the first-time home buyer.
It’s interesting to look at pockets that have held up relatively well in the last year in the real estate arena, such as the Charlotte NC, Dallas, Houston, Austin, Seattle, and Salt Lake City areas, and try to pick out common threads, as far as how they avoided much of the toil and trouble the rest of the country faces.
I’m most familiar with Austin, seeing as I live here and all, but the largest common thread seems to be a strong local job market, followed closely by a disinclination towards wild-eyed speculation in thepast and/or fairly low taxes. Most of Texas never saw a wild run-up in house valuations to begin with in recent years, so while things have slowed in the last year, it hasn’t involved screeching brakes.
It’s easy to make housing markets more difficult than they actually are. With the mobility of humanoids these days, an equilibrium usually tends to be found. If an area provides ample jobs, affordable housing, and good schools, it’s desirable to a large swath of the population, many of whom are more than willing to relocate.
They do so, the local housing market gets a shot in the arm until the area is no longer undervalued, the next hot “new” area is identified, and the circle of real estate life repeats itself.
Comments
1 Comment so far
Been to Longview…beautiful place.
Charlotte is good stuff…