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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Where to focus? Posted by SeanW on April 16, 2003 at 7:00 AM In my area, most of the foreclosures are going back to the lenders. Charlotte's economy is doing OK generally and there are more jobs than in other cities. I think there's just been a lot of new construction and an overhang of inventory has formed. The foreclosure notices show a lot of homes built in the late 90's to early 00's going under. These people probably were first-time buyers, and not good risks. It's a funny market. I've spent a lot of time exploring Charlotte in drivearounds. I get the impression there is a bulls'-eye effect here. Homes near the city core are being rehabbed and improved, b/c the city is big enough that many people don't want to commute, and they want to be near the uptown office towers. (Almost no foreclosures there.) Outside of that is a "ring" of lookalike 1950's-1970's homes in neighborhoods which are looking a little tired and neglected. Outside that is another "ring" (where an urban loop highway is being built) and that's where all the new construction is. So where is the opportunity? The older homes in established areas, that need some work.... or the newer ones on the city edge? The newer homes would need less rehab expense. But then, you're going to be competing against fresh construction and builder financing. Follow Ups: Nibble here, there, everywhere.. (nt) Ward-CA- 10:54 PM, 04/16/03 (0) Nibble here, there, everywhere.. (nt) Ward-CA- 10:53 PM, 04/16/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : In my area, most of the foreclosures are going back to the lenders. Charlotte's economy is doing OK generally and there are more jobs than in other cities. I think there's just been a lot of new construction and an overhang of inventory has formed. : The foreclosure notices show a lot of homes built in the late 90's to early 00's going under. These people probably were first-time buyers, and not good risks. : It's a funny market. I've spent a lot of time exploring Charlotte in drivearounds. I get the impression there is a bulls'-eye effect here. Homes near the city core are being rehabbed and improved, b/c the city is big enough that many people don't want to commute, and they want to be near the uptown office towers. (Almost no foreclosures there.) Outside of that is a "ring" of lookalike 1950's-1970's homes in neighborhoods which are looking a little tired and neglected. Outside that is another "ring" (where an urban loop highway is being built) and that's where all the new construction is. : So where is the opportunity? The older homes in established areas, that need some work.... or the newer ones on the city edge? The newer homes would need less rehab expense. But then, you're going to be competing against fresh construction and builder financing. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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