Hud Homes In Charlotte

Written by Jared Vincenti
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As one of the fastest-growing cities in the country, Charlotte has a booming real estate market. Located in western North Carolina, right near the South Carolina border, it is becoming a popular destination for prospective homeowners. As the second-largest banking city in the US (behind New York), it lures thousands each year to settle in its borders. The mild climate and abundant entertainment can't hurt either.

About Buying Real Estate in Charlotte

Charlotte is a city experiencing great economic growth. With the headquarters of national banks such as Wachovia and Bank of America located downtown, and even more business moving in and starting up, Charlotte's real estate market is pretty competitive. Home prices are close to the national average, but appreciation is slow. Taxes are low, and available housing is relatively scarce.

Charlotte is also a very diverse city. Caucasians and African Americans make up most of the population, but Latino and Asian populations also hold significant presences in Charlotte. Because the city is doing so well and pretty diverse, HUD has little to offer in terms of housing incentives in Charlotte.

However, just because a city is doing well doesn't mean that there aren't foreclosures. Even economically rigorous cities have discount realty. Investment properties (that are relatively new and in good condition) are still to be found--as low as $50,000. That's a bargain compared to the city average of $130,000, all you need is a real estate agent to look in the right places.

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