Charlotte NC Economic Report (July, 2008) (Market Report FEATURED)

By
Real Estate Agent with www.AtHomesCharlotte.com | Savvy + Company Real Estate 228209

 

Charlotte NC Economic Report (July, 2008)

Charlotte NC

The Charlotte NC economic report (July, 2008) reflects that job growth and economic expansion continue to sustain Charlotte's real estate market.  With the news of Bank of America's (headquartered in Charlotte) recent decision to purchase Countrywide (it is what it is!), Charlotte is soon to become America's leading financial center.  Bank of America is but one of over 300 Fortune 500 companies represented in Charlotte, NC.

In a recent FORBES article, Charlotte was tagged as one of the top five cities with undervalued market prices in the U.S.  The ForbesNational Association of Home Builders reflects that Charlotte does not have the inventory surplus that is crippling some cities nor, do we have the fast rate of new construction starts, keeping us more in-line with supply and demand.

According to FORBES, Charlotte, Seattle, Boston, San Francisco & New York were ranked among the country's most undervalued real estate markets.  Housing continues to be a solid investment, especially with the mortgage rates at a minimum and the recent Wall Street struggles. 

Despite the downturn in the market and the economic worries, Charlotte continues to one of the best real estate markets in the country.
 Located only 3 hours from the Atlantic Ocean, less than two hours from the mountains and is a major airport hub for easy air travel.  Charlotte has three lakes (Lake Norman, Lake Wylie and Mt. Island Lake) which are all fed by the Catawba River.

Charlotte NC July Sales

Homes sold in the past month in Areas 3,4,5,6,7 and Uptown (area 99) 

Average gas price this week in Charlotte:  $3.95/gallon

Other accolades that our Queen City has received:

Congratulations#1 Best Place to LiveRelocate-America.com, May 2008.  Voting was based on community consistency and number of nominations received.

#1 America's Most Livable Communities:   Partners for Livable Communities. The communities honored are evaluated on their strategies, visions, and actions towards preparing for new economy as well for creativity of leadership and collaborative efforts across 10 areas: New economy, tourism, human development, housing, neighborhoods, city center, leadership, finance, regionalism and environment.

Charlotte has major interest in the arts and sports, including many museums, professional football (Carolina Panthers), basketball (Charlotte Bobcats), semi-pro Charlotte Knights (baseball) and Charlotte Checkers (hockey).  Charlotte is also home to many NASCAR teams and houses the new NASCAR Hall of Fame Museum.  Come visit Charlotte and you'll fall in love with this fabulous city! 

Debe in Charlotte

About the author:

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhood and Relocation Specialist who can assist you with the purchase and/or sale of real estate in Charlotte NC or any place in the country by connecting you with a relocation professional in your destination of choice. Debe has created a team of professionals throughout the country to ensure that you enjoy a smooth transition to your new area. These professionals are experts in the field of relocation and can serve many purposes beyond a simple home search. The destination service is of no cost to you! Please visit www.TheMaxwellHouseGroup.com  for your relocation and/or your local needs.

Debe Maxwell- HELEN ADAMS REALTY - 704.491.3310 - Debe@DebeMaxwell.com

Copyright © 2008 By Debe Maxwell, All Rights Reserved...*Charlotte NC Economic Report (July, 2008)*

 

 

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Ambassador
1,550,359
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Everything is looking phenomenal in the Charlotte area plus the Queen city boasts of having Debe Maxwell of Helen Adams Realty to serve you. It just doesn't get any better than that.

Jul 27, 2008 10:11 PM #1
Ambassador
1,261,290
Debe Maxwell
www.AtHomesCharlotte.com | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Gary:  Can you please move to Charlotte and start doing my marketing for me?!  As always, thank you for your kind words! 

Debe in Charlotte

Jul 27, 2008 10:41 PM #2
Rainmaker
201,317
Shannon Lefevre
John R. Wood Properties - Naples, FL
Shannon Lefevre, PA Your Naples Smart Girl

Bravo Debe!!!!  This is a fabulou report on your local market and thanks for helping me keep an eye on what's going on up there just in case I'm asked...of course if anyone needs to know more, I'll let you do the "heavy lifting" for me! :)

Jul 27, 2008 10:46 PM #3
Rainmaker
1,512,837
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate

It seems like Charlotte has been immune to the downturns many other local markets have faced in the last two years. The presence of so many Fortune 500 companies not only creates jobs but also provides economic diversity. Looks like your home prices are staying at affordable levels, too.

Jul 27, 2008 11:10 PM #4
Ambassador
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Tracy Santrock
Fonville Morisey/Santrock Realty Group, Inc. - Cary, NC
Raleigh - Cary Realtor

A great mix of local info and national headlines too! Nice post!

 

Jul 27, 2008 11:41 PM #5
Ambassador
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Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Debe- Congrats on the gold star for your market report. Great job Debe!

Jul 28, 2008 01:04 AM #6
Anonymous
Anonymous
Anonymous

It's good news from Charlotte! Since we have a lot of folks who purchase real estate in Hilton Head and live in Charlotte, I'm happy to hear the news. 

Jul 28, 2008 06:31 AM #7
Rainer
274,098
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island

DEBE - You continually provide great information about Charlotte, and I can see why people are making it one of the most popular relocation destinations.

Jul 28, 2008 06:54 AM #8
Rainmaker
1,007,020
Charles McDonald
Charlottesville Real Estate Solutions - Charlottesville, VA
REALTOR®, Blogger, Principal Broker®, Owner

Debe looks like everything is coming up roses for you area!!!

All the best my friend :-)

Jul 28, 2008 08:04 AM #9
Ambassador
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Debe Maxwell
www.AtHomesCharlotte.com | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Shannon:  Thank you!  Coming from you this is a HUGE compliment b/c you are one of the first here on AR that I admired with your incredible market knowledge!  Your charts and graphs inspired me to post better information here for potential buyers and sellers in the Charlotte area! 

John:  You're right--the Fortune 500 number keeps getting larger and we keep feeling a bit more 'safe' economically because of their presence!  Thanks for stopping by!

Tracy:  Thank you so much for stopping by and for the kind words!

Katerina:  Thanks!  I've had a little inspiration from you!!!  ;-)  You know how I love those little gold stars too!!

Diane:  Charlotteans LOVE Hilton Head--as a matter of fact, one of my best friends is there right now (Port Royal) and going back mid-August!  You work/live in a fabulous place!

Adam:  I learned from the BEST!  We have become a world-class city and I know just how fortunate I am to work here in Charlotte too!

Debe in Charlotte

Jul 28, 2008 08:20 AM #10
Rainmaker
630,071
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Debe,

What a great area you live in.  With the #1 rankings you are destined to have a lot of new folks coming to town!.

Don R.

Jul 28, 2008 08:21 AM #11
Ambassador
1,261,290
Debe Maxwell
www.AtHomesCharlotte.com | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thanks Charles!  I have to admit, not everything is but, the near-future's outlook is much better than alot of our sister-cities around the nation.

Debe in Charlotte

Jul 28, 2008 08:22 AM #12
Ambassador
1,261,290
Debe Maxwell
www.AtHomesCharlotte.com | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Don:  Those Fortune 500 companies take the brunt of the weight off our shoulders for getting new folks to town but, Charlotte's leadership has made it into a world-class destination!

Debe in Charlotte

Jul 28, 2008 08:25 AM #13
Rainer
105,417
Teresa Harris
Lake Real Estate, LLC - Denver, NC
Denver . Lake Norman . Charlotte

Hey Debe, Congrats on the feature...Great report for Charlotte! From one Great REALTOR of the Charlotte market... Debe Maxwell!! Hope all is going well for you. Take Care...

Jul 28, 2008 08:37 AM #14
Anonymous
Anonymous
Deborah Wilson

Debe, I loved your post.  It was so informative and interesting.  You put time and effort and it shows.  Good job. 

 

Jul 28, 2008 09:19 AM #15
Ambassador
1,261,290
Debe Maxwell
www.AtHomesCharlotte.com | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Teresa:  Thank you, thank you, thank you!!  You're too kind!

Deborah:  Thanks!  I love statistics and researching Charlotte; this is one of my favorite things to do!  Is this Deborah from Charlotte?!

Debe in Charlotte

Jul 28, 2008 09:30 AM #16
Rainmaker
1,066,542
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

This area has become very popular.  My only fear is that it does not lose its charm and all those things that make it #1.  Congratulations.

Jul 28, 2008 12:46 PM #17
Ambassador
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Debe Maxwell
www.AtHomesCharlotte.com | Savvy + Company Real Estate - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thanks Joan!  I think we're becoming even more charming!  Hopefully we'll stay #1!!

Debe in Charlotte

Jul 28, 2008 01:03 PM #18
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Charlotte Homes for Sale - Charlotte Neighborhoods
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