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Better than most markets (for now.)

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Couch Potato

Thread Starter
Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina

Mountain Man

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Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Don't ya' wish they'd shut up and quit advertising about the few good market areas? I've got my list and ain't sharing with no one!
 

USPAP Compliant

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Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
They just canceled two very large condo projects in uptown Charlotte. Financing dried up due to lack of pre-sales.
 

Mr Rex

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Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
CP, there have been a couple of articles in the N&O about some of the big boys packing up and leaving town. Maybe these were the ones that wouldn't talk to the guy trying to put the happiest of faces on the Triangle market. The name of the rag is Triangle Business Journal after all:new_smile-l:
 

D-Max

Junior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
Fayetteville is still a decent market. There is an over supply of new homes but housing starts are steady. Most of the builders are banking on the Base Relocation between now and 2010 and are afraid that if they stop building that they won't have enough homes when the troops start coming in. Also if the President starts withdrawing troops from Iraq then this too could result in a sudden re-population. 90% of what I do is in this area and it has even been steady when everything else was DEAD.
 

David Beasley

Senior Member
Joined
Dec 12, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
Yup, pretty much everything between Raleigh and Fayetteville is hanging in there. Steady. Not Earth shattering, but certainly steady.

I've done VA appraisals as far North as Fuquay-Varina (Harnett County F-V addresses anyway) so the Ft. Bragg market is not only expanding by population (BRAC) but also geographically as well. (I don't do Hoke very often anymore, but it too is booming with new home starts).

Fear not though, there are PLENTY of homes in Cumberland and Harnett that are started but not finished - as you likely know. There will one day be an over-supply issue here, it just ain't today. They're only calling for 25k troops to move here, with a guesstimated total population increase of 40k. Figure, some of those will live on post (lots of new on and quasi-off-post* military housing construction is happening), others will rent, so there won't be 25k homes needed here by 2010, not that the local builders are using that logic...we've even had some "Raleigh Builders" (Bill Clark) suckered into coming down here to compete with the genuine locals during this "boom" time.

*Linden Oaks, on NC Hwy 87/24 outside of Spring Lake is "on-post housing" - even though it is several miles from Ft Bragg proper (but is on the edge of the Overhills Estate that the USA bought from the Rockefellers some years ago.)

http://www.livelindenoaks.com/
 
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