This month we’ve shared with you what real-estate experts have been advising, that Charlotte, NC real-estate is booming. We dropped the news, in the first article in this series. Next we revisited how to decide if real-estate is investing is for you, by reminding you of important fundamentals. If you’ve taken all of that into account, and decided that you’re ready to invest, we want to further illustrate, why Charlotte.
Market trends help you understand the movement of key price indicators. Trends in Charlotte show a 35% year-over-year rise in median sales price and a 2% rise in median rent per month. What does this mean for you? Basically, it’s a great time to invest. If you need to or choose to eventually sell, if done properly, probability for profit is good. However, in the case of long-term investors, Charlotte is showing a rise in what the median prices are for rent. We’ve advised in a recent article about allowing the market trends to dictate your decision to raise your tenant’s rent. This is the instance to which we referring. For new purchases, you can expect to be able to get a higher rent than in previous years, which may add to what you may see as the benefits of investing. And, for current properties those statistics justify a possible increase.
Other reasons for investing in Charlotte real-estate, for personal property or as an investment, are simple. Major corporations are headquartered here.
A major indicator of a city’s economic strength and stability is the presence of Fortune 500 operations. The Fortune 500 list is compiled each year by Fortune magazine by ranking the previous year’s annual revenues of large national and multinational corporations headquartered in the United States. The Charlotte metro area boasts seven Fortune 500 headquarters, ranking the MSA 20th nationally in number of Fortune 500 company headquarters. These headquarters represent more than $223.4 billion in revenue for 2013. More importantly, 291 of the Fortune 500 companies have made a commitment to Charlotte by placing one or more of their facilities within the MSA.
Charlotte has 8 institutions of higher learning and is also in close proximity to quality NC institutions of higher education (30+ 2- 4-year, technical, private and non-for-profit within 25 miles). These two factors are important for corporate leases, recent graduates entering the workforce and college off-campus housing as a built-in pool of potential renters. Nightlife in Charlotte is amazing, which is a draw for homebuyers and those looking to rent. Charlotte is cosmopolitan enough—with its world-class dining, museums, history and proximity to family entertainment—to garner attention and tourism for its offerings, but removed enough from negative aspects of “big city” life to simulate desirable, highly sought small-town vibe. In short, Charlotte is a hot destination. As an investor, you must recognize the potential for success in investing…now!
There are going to be many that see this information and statistical data about Charlotte, see the opportunities for education, employment, and/or starting a family and seek it out. Everyone is not going to want to or be able to buy. A savvy investor will take this information, see the potential in an investment property, and invest in their future. All you need is a plan, funding, and the right partner to guide you. Carod Properties is here to help!
