There has been recent articles in our local paper The Charlotte Observer regarding the stampede of New york residents moving to the Charlotte area of the Carolina's. Charlotte has recently been the number one relocation destination of Buffalo New York residents within the past year. Most of the residents love the Carolina's and would not move back, some would like to move back if they could find a job.
The most popular reason I have found that New Yorkers are moving to South Charlotte is because of the real estate. South Charlotte is the most stable real estate market in the Charlotte area and has been for the past 15+ years. New Yorkers can sell their property for huge profits and move to the South Charlotte. Compared to New York you can purchase a home in South Charlotte for half the price and have a mansion with complete amenities.
What most transplants are finding is a climate that is resort like, all the shopping you would ever need and a good quality of life. There is just enough Winter to give a taste of what it was like Upstate, but it doesn't last long and is not nearly as brutally cold. "It's like living your early retirement earlier in life"---- Bob Ruffalo, Marvin NC
With all the relocation from New York and California, South Charlotte is becoming the best bet to invest in Real Estate. Within the past year South Charlotte has been seeing increases in sale prices ranging from 15% to 25% in some areas. In 2005, National City Corp listed Charlotte housing as being undervalued by 6% on average. This obviously is a great combination for Baby Boomers, quality of life, more home for your money and a better investment than the stock market.
South Charlotte's performance in homes sales for the past 15 years has been a very steady upward movement. If this any indication of future performance, South Charlotte real estate is a no-brainer..