ForeclosureDeals offers a solid database of Charlotte bank owned foreclosure homes and Charlotte government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Charlotte repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Charlotte, NC. Our up-to-date real estate foreclosure listings in Charlotte offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Charlotte area.
With its beautiful single-family homes and elegant townhouses, the city of Charlotte, NC is a wonderful place to live. Featuring many affordable homes because of foreclosures, the real estate market of Charlotte offers plenty of choices for those who are looking to retire. There are many reasons why you should consider investing in Charlotte homes for sale. For instance, the city is just a few hours away from the beach and the Appalachian Mountains, providing a cheap vacation any time you'd like. There are also plenty of schools around the area if you have school-age children. Take advantage of these opportunities and start searching for foreclosed homes for sale in Charlotte, NC now!
Metropolitan areas in the United States are perfect locations for prime real estate opportunities for investors, primarily because of the high demand for housing in these areas. This is especially true for locations in the American South and Southwest, which are two of the fastest-growing regions in the country.
One metro area, Charlotte, NC, is a prime example. Charlotte, known as "The Queen City", has a metro area population of 1.7 million people and a city population of 731,424, good for the 17th-largest city in America. It has become one of the nation's leading cities for finance and is the second largest banking center in the country after New York City. Charlotte is also home to many Fortune 500 companies and has been called by some "The New Energy Capital" based on its popularity with the energy sector. Additionally, the city has experienced a remarkable 35% average growth rate over the past two decades, making it one of the most in-demand cities in the country.
This guide will supply investors with more basic information about investing in real estate properties in Charlotte, NC.
Median home prices in Charlotte typically hover around $125,600. This is rather inexpensive for cities as big as Charlotte, and is actually below the average median home value for the South region as a whole. Per square foot, homes in Charlotte have a median value of $76, with a high of $221 in Downtown Charlotte and a low of $40 in Lincoln Heights.
In terms of foreclosures, Charlotte averages 10.85 foreclosures per 10,000 properties for a given month. That is roughly on par with similarly-sized cities. The area in the city with the highest foreclosure rate is Optimist Park with 178.57; the area with the lowest rate is Dilworth with 2.6.
The best places for investment in a city are usually centrally located with low foreclosure rates. This provides a combination of prime location and access to work, education, entertainment, and amenities with relative market stability.
Based on these metrics, some of the best places for investment in Charlotte include Brookhill, Dilworth, Elizabeth, Fourth Ward, Myers Park, Pawtuckett, Plaza Midwood, Provincetowne, Sharon Woods, Stonehaven, and Thomasboro-Hoskins.
North Carolina, like many states, has both a non-judicial foreclosure process and a judicial foreclosure process. The timeline involved is usually 100-120 days long, and deeds of trusts and mortgages are both used. The most common process is the non-judicial one, because most title documents have Power of Sale clauses in them that empower lenders to pursue foreclosure without the courts. Even so, though, preliminary hearings must still be heard by the court to determine if the foreclosure sale can take place. This is unique because even in a non-judicial foreclosure process, the court clerk must still issue a Notice of Sale. There is no redemption period in North Carolina.