Uptown Charlotte Condos Turning into Rental War!

Posted On: February 20, 2009 By: admin

If you ever wanted to see if living in Uptown Charlotte was it for you, now may be the time to find a great deal.  With the recent recession many owners have opted to take their units off the market and turn them into rentals.  What does this mean for the consumer?  Great Deals!

It’s a buyer’s market out there; it’s also a renters market as well.  Everything in Real Estate is open for negotiations, so be sure you negotiating the best terms possible for you.  Remember these numbers when you are negotiating on a rental lease in Uptown Charlotte.

Currently properties for rent as of February 20th, 2009:

First Ward Charlotte:   21 properties for rent ranging from $835 to $2,800 a month.
Second Ward Charlotte:  0 properties for rent.
Third Ward Charlotte:  34 properties for rent ranging from $850 to $2,600 a month
Fourth Ward Charlotte:  50 properties for rent ranging from $775 – $3,900 a month

These numbers don’t include the 230 rental units that are about to come on the market from The Catalyst Condos.

Current market conditions should also reduce the rent on many Uptown Charlotte apartment complexes.  I recently had a client who was looking to rent out a nice 2 bedroom 2 bath.  He started to give his 60 days notice to the apartment complex and they lowered his monthly rent by over $150 a month!

Not only can you find great deals on renting, but buying as well.  As the uncertain market conditions continue, many units are just sitting on the market with little or no activity to them.  Only 5 units were sold this December 2008 and only 4 units in January 2009.

Currently properties for sale as of February 20th, 2009:

First Ward Charlotte:  32 properties for sale ranging from $166,900 to $659,900.
Second Ward Charlotte:  13 properties for sale ranging from $250,000 to $5,000,000.
Third Ward Charlotte:  66 properties for sale ranging from $164,500 to $689,900.
Forth Ward Charlotte:  161 properties for sale ranging from $145,900 to $1,500,000.

Category: First Ward, Fourth Ward, Second Ward, Third Ward