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Charlotte real estate market

Ja Rhule

By Ja Rhule,
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Ja Rhule Grand Master

Ja Rhule

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23 minutes ago, LinvilleGorge said:

I thought it would've already popped but as long as there's low inventory and stupid low rates it's gonna keep going.

The one big variable IMO is when the foreclosure market comes back. Is the market falsely inflated right now because that bottom barrel market has been completely eliminated for nearly a year?

 

I think this might be the case.  Once inventory increases, prices will drop.

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LinvilleGorge Grand Master

LinvilleGorge

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6 minutes ago, Ja Rhule said:

I think this might be the case.  Once inventory increases, prices will drop.

I just think the moratorium on foreclosures may have actually worked. Distressed mortgage rates really aren't very high. If the market stays hot flippers with cash are gonna be gobbling those foreclosures up quick.

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LinvilleGorge Grand Master

LinvilleGorge

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7 minutes ago, onmyown said:

Charlotte pales to pretty much any city. It’s funny people freak out...these are great prices for a city like Charlotte.

The property I'm buying would've been over a million in the town I lived in back in CO (mainly due to the land, the house itself would've probably been in the $700k range). The house I sold for over $550k would do well to bring $275k here (again, mainly due to land; it was "only" on 3/4 acre).

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onmyown Grand Master

onmyown

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5 minutes ago, LinvilleGorge said:

The property I'm buying would've been over a million in the town I lived in back in CO (mainly due to the land, the house itself would've probably been in the $700k range). The house I sold for over $550k would do well to bring $275k here.

Lol yep. My house cost me $375,000 in SLC. This house in Charlotte? Easily $250k or less with more land.

I really REALLY hate the fuging west housing costs. Seattle, Cali, Colorado, AZ is getting up there. Hell even Vegas  is getting dumb expensive. Boise is still nice but it’s only a matter of time.

Montana, NM, and Wyoming are all that’s left on the entire west side of the US...but there is not poo out there.

I have a great job out here but you can bet your ass my sights are set on the east coast for retirement.

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hepcat Grand Master

hepcat

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20 minutes ago, onmyown said:

Charlotte pales to pretty much any city. It’s funny people freak out...these are great prices for a city like Charlotte.

Very true. I peeked at Charlotte’s real estate market and seriously thought about moving based on how much house I could get for what my Austin house is worth.

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toldozer Grand Master

toldozer

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Market is crazy but I think my wife and I crushed it. It took better part of 4 months one failed deal because of lender incompetence and countless offers that weren't accepted.  In the end we are under contract on an absolutely perfect house for what we were looking for. Just hoping for a clean inspection.  I just need things to keep up for the rest of 2021 so we can refi out of pmi in 6 months. Charlotte Market is tough for sure but I dont think we see a drop anytime soon.

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