Home Buying in Durham>Question Details

Kaedae, Both Buyer and Seller in Durham, NC

I am considering buying a home in the Belcrest neighborhood off of Fayetteville Street in Durham.

Asked by Kaedae, Durham, NC Mon Apr 26, 2010

Do you think this neighborhood is a good investment?

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BEST ANSWER
Kaedae, historically speaking housing has been a very good and stable investment. However, it would be impossible to look into the future and predict with any certainty what the investment potential of any one particular neighborhood might be. The best advice any REALTOR® can give you is by a home that you like in a neighborhood that you love and let the rest take care of itself. If you select it for those reasons than others will as well.
Web Reference: http://www.jmmre.com
1 vote Thank Flag Link Tue Apr 27, 2010
Another factor to consider is how long you plan to live in the property. This subdivision is in a very convenient location for others who may want to purchase. This neighborhood is convenient to RTP and RDU which should help it resale since many of those that work in the park like to be within 10 mins. from their offices. The Southpoint area tends to sale very well both in days on the market and the price per square foot. If you need additional assistance with a buyer's agent to represent you or for additional questions or to do comparisons with other neighborhoods to make your home choice please let me know my office is just down the road.

Deborah Rigsbee Miller
EcoBroker/REALTOR
Coldwell Banker, Howard Perry & Walston
7011 Fayetteville Road
Durham, NC 919-491-2826
1 vote Thank Flag Link Tue Apr 27, 2010
This is one of four communities KBHomes is developing in the Triangle. In Belcrest KB has taken over a partially-built Centex Homes development of homes sold in the $300k, and as part of the deal KB agreed to have the exteriors upgraded to conform with existing homes. A variety of options are available in the interior to either upgrade or keep the selling price down. Belcrest is in an extremely convenient location, just down the road from Southpoint Mall and in easy communitng distance to both Duke and UNC-CH. KBHomes has been extremely successful with these communities.
1 vote Thank Flag Link Tue Apr 27, 2010
Hi Kaedae
I agree the most of the answers, it is very difficult to predict what will happen in the real estate market. However the SW part of Durham ( Southpoint Area ) has been the most resilient through all of the ups and downs, it is very convenient and where most new comers want to be so I would feel pretty safe buying in this neighborhood. If you would like any additional information or would like to compare prices and or neighborhoods let me know.
Thanks,
Michael
Web Reference: http://www.colvinm.hpw.com
0 votes Thank Flag Link Tue Apr 27, 2010
According to the data, only 3 homes have been sold in Belcrest in the past year. The prices ranged from about $260k to about $330k. You can view a chart of the sales for the past year here:

http://www.flickr.com/photos/46297312@N02/4557779226/

You can also go to the link below to see a more general view of trands in Durham.
0 votes Thank Flag Link Tue Apr 27, 2010
Given the events of the last 18 - 24 months it is quite difficult to predict what will happen in the overall market much less a specific neighborhood. I can say that the SW side of Durham has been probably the most consistent area of the county, with the proximity to Southpoint and theeasy access to Chapel Hill, Raleigh, the RTP and RDU Int. it is has the best potential to be a solid investment and a very convenient and pleasant area to live.

Your REALTOR can assist you with recent sales history and trends in the area to help you make a wise choice as far as neighborhoods and individual homes.

Please let me know if I can be of service to you in this process.

Thanks,

Fritz Hine
REALTOR/Broker
Coldwell Banker HPW
hinef@hpw.com
0 votes Thank Flag Link Tue Apr 27, 2010
Kaedae,
There is no crystal ball when it comes to investing. The best thing to ensure you don't pay too much is to make sure you are not paying at the high end of the comparables. Ask your buyer's agent to provide the most recent sales and use the lower price/sq/ft. Also, avoiding properties that have a major flaw like power line easements adjoining or very steep driveways, will provide the best chance for good resale.

Just a note, if you are wanting to be "green" in your real estate investing, existing homes are always the greener choice.
0 votes Thank Flag Link Tue Apr 27, 2010
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