We're experiencing a very interesting trend right now in Charlotte. While there are pockets of foreclosures where prices are hurt by this trend, mostly in areas where there are starter homes, the overall picture is quite good. The builders, who are most affected by this trend, are buying less land and starting few projects that they even did this time last year. Plus, people keep moving to Charlotte at the tune of 50,000 a year. Now, this may slow due to some having trouble selling where they are moving from however this is still a very good thing.
So more demand + less new construction = higher price for existing homes. That's what we're expecting right now but anything could change that like a LOT of loss of middle income financial services jobs or real estate markets improving in other areas like Florida, the north east, and the mid west.
Specifically to that area where you are looking to purchase, there's a lot of new construction. If in 4 or 5 years there is a lot of new construction, that could negatively affect your appreciation. What I've seen for years is that anytime you're selling against a builder. you will lose since they can decrease their profits by lowering the price down a little bit on each one to get a sale. Since you only have one unit, you can only hope the they don't lower their price in 5 years down to today's prices. That does happen. If you're really concerned about future value, you can purchase a newer home in a completed neighborhood that is either a foreclosure or just a seller needing to get out. You can sometimes get a home 20% below market value, which is instant equity. This is what smart investors do.
Also, if you ever want to see a complete trend on the values for any area of Charlotte, you can check out my blog. I post the local area stats for areas around Charlotte on a monthly basis. That way, you can see what's happening with values. You can read it at http://charlottehousehunter.featuredblog.com/
and tomorrow, I will post the numbers for Area 9, where Peachtree Estates is.
Finally, get with a Realtor that knows this market and will help you make a wise decision.