Good Deals in Charlotte…
Today is the last in a series of Blog Posts focusing on Charlotte, North Carolina.
So far we've talked about the "City Center" itself, the communities surrounding Charlotte, and the areas further outside Charlotte, NC.
This week, I'll be finishing my Charlotte posts by discussing how you can find the really good deals in an area, and discussing three such areas outside Charlotte, North Carolina!
When I visit places, I 'm always looking for those areas that are a bit on the "fringe". Areas that aren't too tough, but a little gritty. Areas that border on the "tough" areas, or are not fully developed yet, or are near the areas that might have some light industry around them.
Why do I do that?
Because over the years, I've found it's in those places where you can get some great deals!
It's more risky so you have to be careful, do lots of homework, and be patient… It takes time for areas to transition!
As you know, where real estate is located creates most of its value!
We've all heard the familiar saying… location, location, location.
The properties with the breathtaking mountain views, or on that pristine lake, or overlooking the ocean will certainly hold their value better, and increase in value quicker than the properties that are a bit on the "fringe" of things.
However, they will also cost more. You won't find any "deals" there!
The properties closer to the Airport in a town, or near the industrially developed areas, or the areas used for light research and development are usually more affordable and better priced.
You'll also find good deals as Cities start to push beyond their boundaries into areas which were undeveloped before. They now become accessible and desirable, and therefore increase in value.
It reminds me of when I first started looking at properties in Brooklyn, NY. Areas like Williamsburg, Park Slope, and Brooklyn Heights were in transition. You were able to buy them for a song. Now, they're so expensive, only a few can afford them!
As I started to research the Charlotte, NC market, several areas looked promising in which to fine "good deals".
Again, "good deals" take even more due diligence. You must do your own homework and hire the appropriate professionals.
NoDa, NC is Charlotte's historic "arts district".
It looks like New York's SoHo of 15 years ago. It's located on North Davidson Street, just northeast of the City Center.
It's one of the best places I found, in Charlotte. This area started to develop as the mill buildings were vacated. You'll find artists, eclectic shops, restaurants offering outdoor dining, and live entertainment venues. If history repeats itself, there's plenty of upside left here.
The Charlotte-Douglas International Airport is located on the west side of Charlotte, NC. And just west of it is the small, quaint, historic town of Mount Holly.
It's conveniently located off Interstate 85, and bordered by the Catawba River and Mountain Island Lake to the east, making it a recreational haven. There are new bistros and coffee shops opening up in its historic downtown. I feel prices have remained reasonable because of its close proximity to the light indutrial areas and Airport to the east of it.
Lastly, several residents told us not to go out to the area of the Eastland Mall?!
This area is due east of Charlotte, and I had also read of its tough character, in the past. Unfortunately, we were so pressed for time in trying to visit all the places we wanted to, so we could report back to you, we never had a chance to go out to Eastland.
However, I did inquire of several local realtors where I could find some "fixer uppers" that might be "good deals", and they each pointed me to the Cotswold area.
They said to stay just north of Randolph Road. Interestingly enough this area is just southwest of the Eastland area. Is it on the fringe of a tough area? I'll have to check it out further, during my next visit.
So, whether you're looking for the pristine properties, or "fringe" areas for "good deals", you must do your homework.
Read the articles here, look at our videos, and use the "Ask Bob" form to get your questions answered.
About Bob Bencivenga
|Bob Bencivenga is a professional site locator and location analyst for major corporations and has been researching the growth of NC and SC to find the Best Places to Retire or Relocate that are still affordable.|
|Visit his blog The Carolina Report and sign up for FREE updates by email,his FREE Affordable Best Places To Live Report and, get FREE Expert Advice on how to find Your Best Place to Retire or Relocate to in North Carolina and South Carolina, additional resources, and a lot more.
Bob does not sell real estate.