Real Estate slide?

Sounds like a good plan to me. Over a trillion dollars in ARM loans will come due next year and more than a few of the people that got those loans will not be able to afford the adjusted rate and will be selling just to get rid of the debt. Maybe you'll be able to pick up a deal.

 

KShead...hope you don't need to move...or you'll be stuck!

 

its true that there are a lot of real estate bubbles that are busting, but charlotte is not and will not be one of those, at least not within the next few years. charlotte is behind comparable cities as far as real estate prices go. also, our population growth rate is higher than most other places our size or larger. we're wayy behind on the urban living thing...just because no one wanted to stay downtown 5 years ago doesn't mean condo demand isn't there today. the typical real estate consumer today is wayy different than what charlotte has been used to, and i think most of the condo units will sell-out and remain sold-out.

 

I just backed out of my reservation agreement with my condo unit. There are just too many variables that I could put more money down on a sales agreement.

 

Agreed, theres still a lot of pent-up demand that is being satisfied. Once a certain critical mass is reached (not quite there yet), we will probably see an acceleration in condo growth in the uptown area. Usually this will be reached when there are enough people living uptown to justify retail in walking distance of most blocks of the uptown area (Eckerd's, Harris Teeter, etc). I think a lot of people are hesitant at this time and are kinda sittin on the fence, but once this first wave of condos fills up, we might see a lot of those folks jump across.

 

OK, I (single guy) recently decided on buying a single family house in south charlotte, rather than buying an overpriced condo downtown ( even though I'd rather live in that area). Good move or Bad move ?
I just figured I'd be able to resell this place MUCH easier.