Charlotte City-Condo CanDo

June 3, 2008

Lynnsy Logue The Real Estate Lady® and Condo Cando® in Charlotte, NC

Charlotte City-Condo CanDo…

For many, many months, announcements came from every corner about a new condo tower uptown…and rendering of what our skyline would look like when yet another tower was completed. Glass and steel filled the sky…and the numbers people filled the units both large and small with the great immigration from all parts of the world, all ages. The uptown population increased into thousands and thousands and it sounded as though we simply wouldn’t have enough. Some of us thought we might have too many small one bedroom condos but were assured that the young bankers and the young executives would take to Urban living like ducks to water.
And we went through the light rail debate…the half full cup and the half empty cup went at it…to the tune of an expensive vote and a overwhelming “Yes” vote in favor of the shiny blue Lynx Line.That light rail, thought to be the elephant in the room, is now even more so the darling. Lucky Charlotte.

And the No. 2 banking city ranked in more top rankings for everything from retirement favorites to one of the leading cities attracting young, creative types… yes, despite our being in the headlights of the sub-prime mess,Wachovia will continue building the fabulous art center with an equally fabulous condo tower.
And then the half empty and the half full geared up again, this time on the U.S. Whitewater Center... where Olympic Training is going on as I write…
Historic Districts are being challenged and houses are being torn down to accommodate condos, more density, tax revenues.There are 28 building cranes uptown and they are not idle.
There are three major condo complexes being built or started in North Davidson, three or four in the Plaza Midwood area, several in Myers Park, three in Dilworth and two or three on the Westside…and I am not even looking.
I looked at the statistics from May 2007 and compared to May 2008 for just Uptown. And our market is down almost 50%. But remember, builders are not always represented. Our market is slower but we still have a market. We still have appreciation, though miniscule. People are coming by the droves and new real estate agents are filling the real estate schools.Charlotte is perking.
And when you hear or read that this is a good time for buyers. It is a good time for good, well qualified buyers in Charlotte, NC. Everyday there is an invitation from a builder about a fancy lunch, a special drawing, buyer incentives, broker bonuses, agents are being creative to get other agents and their buyers on the property. The market is cooking.
We are not out of the woods by a long shot…people are still concerned about all the credit and money matters…but you can hear the sounds of the future buzz if you take the time to listen. One of the woman brokers said during a gathering, “We are building a city here”. Yes, Ma’am, we are building an incredible city here.

Lynnsy Logue The Real Estate Lady® and Condo Cando® in Charlotte, NC