Last Thursday we had our weekly meeting for our investment team. The topic is always about the investment opportunities in Charlotte as well as all over North and South Carolina. There are so many foreclosures now it is really impacting the value in every neighborhood all over Charlotte. I have Rick's hot list of homes that comes straight from the courthouse steps. The list is longer than it has been since I have been in my 12 years of real estate. One of the comments that was made was how many people will look back on the year 2008 and say “I wish I would have bought back then."
A couple years ago the sellers were getting full price or more for their homes. Now everyone is looking for a deal and finding it. On my hot list you can find homes in all neighborhoods and price ranges. I have seen them from The Point at Lake Norman to The Palasades in Lake Wylie. There was one in Providence Plantation last week. The bottom line is no neighborhood is immune to foreclosure in this environment.
The good news for the savvy investor is what they can purchase today with built in equity. I sent all my clients a news article about the market in Charlotte last week that looks very promising to the area. If you would like to get on that mailing list let me know. Contact Rick and I will be happy to put you on the email list.
I think the good news for us who invest in the Charlotte market is we can buy now when the market is low. Most people want to wait when it is rolling and the market is high and they can see the equity. The better time is to buy now when it is low and when the market comes back you will reap the reward in my opinion.
Don't be the guy who says I wish I would have.