Home Buying in Charlotte>Question Details

Sdhall00, Real Estate Pro in Charlotte, NC

Are homes in Myers Park High School zone worth the price (550 ) when some homes have no garage, is a ranch and/or needs updating.?

Asked by Sdhall00, Charlotte, NC Thu Apr 5, 2012

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I live in Myers Park. Location. Location. Location.

This is one of the most beautiful areas of Charlotte. And one of the least affected areas in the entire country in terms of house values declining.

You can build a garage if necessary, but most people with garages park outside anyway in the South. The weather is so nice most of the year. Garages tend to be storage areas. And in Myers Park and Dilworth, and other Historic Neighborhoods, they really don't affect prices.

If you'd like to talk about it, call me: 704-858-2345. I live on Selwyn Avenue, just down from Selwyn Pub, Mellow Mushroom and Nolen's Kitchen.
0 votes Thank Flag Link Sun Apr 15, 2012
Good afternoon, SDHall:
Land economics, home size, specific location, the architect who designed the home, condition, upgrades and recent repairs, lot size and many other factors influence the value of a home and property. Some run-down homes in the Myers Park High School district listed at $550,000 are worth every penny of the price and others in great condition are not. We can find high value homes in the MP High School District including some for MUCH less than $550,000. The trade-off that make people decide for Myers Park High School District is the shorter commuting distance to Uptown Charlotte. Some people like being able to come home for lunch :) 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 .
0 votes Thank Flag Link Sun Apr 8, 2012
Absolutely worth it for the right location and potential. Ranches are very desirable floor plans and are usually the fastest to sell.

Sherrie Andrews
Helen Adams Realty
0 votes Thank Flag Link Fri Apr 6, 2012
Unfortunately the case is generally yes. The neighborhood plays a factor into the value fo the home more than anything else. Myers park area is knwon for it's great schools. People today are concerned about school so much that they are paying more for a comparable home in a better schools district than before.

Location and schools have always driven the prices in a certain area and this is mostly the case in myers park.
Web Reference: http://www.davedicecco.com
0 votes Thank Flag Link Fri Apr 6, 2012
A good quality school district does play an important role in house prices. Myers Park High School is an in demand school and prices do tend to be higher in those neighborhoods that feed Myers Park High School. Also, the closer you are to Uptown Charlotte, the more you'll pay for a house. You are not only paying for the home, but for the convenience of the location where the home is located.

You'll find that a lot of these older homes don't have garages. You will tend to have a larger lot in the older neighborhoods than say out in Ballantyne area, and you may be able to add a garage, as some people have.

It really does boil down to what is important to that individual buyer. Certain things play a bigger importance in some buyers choices than others. It's a personal decision. Hopefully your Realtor will guide you on price once you find something you are interested in.

I have a totally remodeled home in the Barclay Downs neighborhood that is priced at $475,000. It is in Myers Park High School District, close to Southpark Mall and Piedmont Row. Take a look at this website: http://www.5601Wintercrest.com If you have any further questions, I'd be happy to try and help.

Tracy Clay
0 votes Thank Flag Link Thu Apr 5, 2012
I guess another thing you have to compare this to - is a 1000sqft apartment in NYC really worth $1mm? Location!
0 votes Thank Flag Link Thu Apr 5, 2012
I think you have to ask your realtor to carefully examine the comparable sales for the particular home(s) you are interested in in Myers Park. This area has always been a top draw for Charlotteans because of its prime location close to Uptown Charlotte, its rich history, large lots and stately homes. However, some smaller homes in need of updating may be on the fringe of Myers Park and are trying to piggyback on the high property values of Myers Park. Have your realtor prepare a comp analysis for you, but remember there's a certain value to be added to homes that are in one of Charlotte's most desirable neighborhoods!

Melissa Brown
0 votes Thank Flag Link Thu Apr 5, 2012
They must be! Because that is what is moving these days. We are seeing a significant uptick in sales these days and the "good" schools seem to be driving this run. Homes in the Myers Park High School are seeing a higher sales price, and price per square foot over a year ago. Inventor is down 20 - 30% depending on the neighborhood in this area. One house just came on the market in Mountainbrook (Myers Park High, (no garage) and there were over 20 showings the first day! And they got multiple offers and back up offers. Why? It was nice, clean ranch, updated, priced at $430K and had the good schools. (Ranches actually go for more price per square foot than 2 stories... usually)

Of course you need to look at the com parables, each neighborhood is different. And the middle and elementary schools also play into value.

If you would like more information on a certain house, or neighborhood... don't hesitate to ask.
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Web Reference: http://www.hiphoods.com
0 votes Thank Flag Link Thu Apr 5, 2012
This is a matter of personal preference for buyers. If you are looking at the property from the standpoint as an investment for your future, you must think about the 3 most important aspects of real estate - LOCATION, LOCATION, LOCATION. This area has always held it's value and certainly always will. Although the homes are older, they have character and, not only that, they usually have quite a bit more of a plot of land than some of the newer communities you can buy in.

Drive through Myers Park down Queens Rd. W, then drive down S. Tryon - worth the money for location?

Hope this helps, and if you have any further questions or would like help purchasing, don't hesitate to contact me directly!

I work for buyers at no extra cost in a transaction and love to negotiate price for my buyers.

John Siddons
0 votes Thank Flag Link Thu Apr 5, 2012
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