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Friday, December 28, 2007

Good Charlotte: Southern city market strong

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    Amid an avalanche of continuing bad news for real estate nationwide, Charlotte, NC, continues to stand out in terms of price stability.  In the latest S&P/Case-Shiller index of home prices in 20 metro areas, only Charlotte, Seattle and Portland, OR, showed increases in pricing in October compared with the same month in 2006.  Charlotte's 4.3% increase led Seattle (3.3%) and Portland (1.9%).
    Charlotte, probably the most stable and growing business center in the southeast, may not have the reputation as a center of golf that Pinehurst and Myrtle Beach have, but it is chockablock with a number of
Price movements in a metro area do not always reflect the specific communities in the area

quality courses and communities, including nearly 30 private tracks.  The city has a world-class airport that is not only a hub for US Airways but also a destination for some non-stop flights from Europe.  And Charlotte is just a few hours drive to the Atlantic Ocean beaches and less than that to the Blue Ridge Mountains.
    We have commented often here about the consequences if people in soft markets wait too long to accept what the market will give them for their primary homes, especially if they have a plan to move south.  Holding out for the last dollar in, say, Detroit (down 11.2%) or New York (-4.1%) is a bad move if you plan to relocate to Charlotte or Dallas (-.1%).  On the other hand, if you are willing to buy into one of the markets devastated by speculators, like Tampa (-11.8%) or the empty-condo-infested Miami (-12.4%), you can probably bide your time.
    All real estate is local, and these market price movements do not always reflect specific communities within them.  If you are interested in a particular area of the south, please let me know and I can put you in touch with one of the most qualified agents in that area.  Our HomeOnTheCourse agent will not only know well the golf communities in the area, but also will be able to show you some of the area's finest private clubs that may not be affiliated with a housing development.  And they can help you understand which communities in a metro area are the most stable.  Hit the contact button above to let me know if you would like a no obligation introduction to a qualified agent knowledgeable about golf course communities and local private clubs.

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Larry Gavrich

This blog was conceived and is published by me, Larry Gavrich, a former corporate communications executive who founded HomeOnTheCourse, LLC, in 2005.  Our firm advises baby boomers and others seeking a lifestyle in which golf is a major component.  My wife Connie and I own a home in Connecticut (not on a golf course) and a condo at Pawleys Plantation in Pawleys Island, SC, on a Jack Nicklaus layout.  We began our search for our home on the course more than 15 years ago, and the challenges of the search inspired me to research golf communities and write objective reviews of them.


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