The Charlotte Observer did a story on foreclosures and produced a map showing where they are located: Here is the map link: http://www.charlotteobserver.com/2009/05/08/712627.html
There are currently 3714 properties listed in the Carolinas multiple listing service as foreclosed, short sales, government owned, bankruptcy, estate, relocation or other distressed properties. About 1200 of these are under contract. Of the 2500 or so remaining, 131 are located in the area between I-77, NC74/Independence and the Mecklenburg/Union and Mecklenburg/Lancaster SC County line, plus all of South Charlotte, Uptown Charlotte, parts of Matthews. This area includes West Ballantyne (south of I-485 and between NC16/Providence Rd and the Meck County lines, where there are currently 15, 15 out of 2500 is 0.6%, which is a small percentage of the total..
Commute times to Ballantyne business park is very short. Commute to Uptown Charlotte is 20 to 45 minutes depending on time of day, but NCDOT is widening I-485, so this may improve in the coming years. There is a lot of Class A office space in Ballantyne and for many, it iis a desirable area. If you have a full time agent with a Masters degree in Planning with Finance and over two decades of experience, working for you, you will likely do better in negotiations. I'd be pleased to provide that service. If you appreciate this answer, please give it a thumbs up, or if this was the most helpful answer, please say thanks with a best answer click.
The amount of foreclosures you're seeing coming on market recently are homes that have foreclosed in the past few years that are just now comign on market. The employment opportunities in Ballantyne and South Charlotte are absolutely amazing and there is so much growth and expansion going on. Average commute to uptown would be 30 minutes without heavy traffic and 45 with heavy traffic.
Email me directly if you'd like help with your relocation!
Ballantyne area of Charlotte is an affluent area of Charlotte. When you refer to west ballantyne I am not sure if you are mentioning the actual area of ballantyne and suburbs around it. I have not noticed many homes in that area that are foreclosed and it is a robust area with an easy commute to uptown being between 15 to 20 minutes.
There is a lot of businesses going into the ballantyne area and it is a growing area. As soemone mentioned it is home to met life now and a couple fo large churchs are looking to build there and companies are opening businesses down there as well....
You may be getting some information on the area around ballantyne and not ballantyne itself.
Coldwell Banker United
The Ballantyne area is booming in regards to employment. Here is a link to the BizJournal. MetLife is bringing aproximately 1500 jobs to the area and will be centered in Ballantyne. It is a done deal and I have already had relocation buyers contact me. http://www.bizjournals.com/charlotte/blog/real_estate/2013/0
Also, the Elevation mega-Church is planning to center their church in Ballantyne. Elevation Church is one of the country's fastest growing churches.Excerpt from the Charlotte Observer article-
"Bendickson said that the new Ballantyne location will be on 21 acres at the corner of Lancaster Highway and Johnston Road.
The church wants to construct a 264,000-square-foot building, which would include a 42,000-square-foot worship center with 1,600 seats.
There would also be a 22,000-square-foot children’s ministry and a 200,000-square-foot office if the city approves the church’s plans.
Read more here: http://www.charlotteobserver.com/2013/03/22/3932390/elevatio
I cannot really comment on the foreclosure issue as this area of Charlotte is not my expertise but I have made note of recent development in the area.