We’ve all seen the news about big investors making their way through Charlotte buying up hundreds of properties. And if you’re like me, you were left wondering, “How can I get in on the action?”
Now that the major investment companies have all but left Charlotte, some people said it was a sign that the time to buy is behind us.
Well they’re wrong!
Forbes ranked the top 20 U.S. Cities that were the best places to invest in housing in 2014; Ranking the Charlotte-Concord-Gastonia area No. 3!
Without these big investment companies, there is more opportunity for the rest of us to still get a great price on a new home.
The most important factor now is TIME!
As with any good deal, you need to act quickly while the prices and rates are still low to get the most bang for your buck, as they say.
This ranking reviewed the top 100 metropolitan areas using US census data. These 100 cities were then ranked on four factors: Population, home prices, home value and the local job economy.
Charlotte achieved the third spot because it has high population and job growth, and relatively low home prices that are most importantly, undervalued.
All together it makes buying a home in Charlotte a relatively low-risk investment.
The key to this ranking is the price that homes would have been without the recession and other external factors.
\As long as homes prices are below this price, then the home is undervalued, and typically a good investment.
In Charlotte, homes are 15% undervalued. That’s an average savings of over $36,000!
What this really means:
Buyers: Charlotte is one of the best places to invest in the entire country. This is because of its potential for growth and improvement, along with its low priced and undervalued homes.
Whether you are buying a home for yourself or looking for an investment property, the key is to buy now while the prices and mortgage rates are still low.
As the rates and prices gradually increase, this is fewer savings in your pocket.
If you are considering investing in Charlotte this year, please leave a comment in the section below. We welcome your thoughts on why you think it’s a great deal. And if you don’t, tell us why as well.
If you are ready to get to make the next move, click here for some of best deals hitting the market now!