North Hills in Raleigh is hot right now. Multiple offers on small houses. Any home under $130K and on .4 ac lots or larger are sold as soon as they hit the market. Why? A few builders coming in to buy the lot/ home and tear the home down and build a $6-700K home in its place.
Inside the belt line, capital blvd west to Lake Boon Trail area is very hot. With prices creeping back up to the million dollar mark on many homes. Main factor: Its INSIDE THE BELTLINE, that is all that needs to be said.
Heritage Wake Forest is always a good buy. and two more subdivision with several hundred lots with new construction coming on the market later this year and early next year.
Cary and Apex are always good buys. Fuquay-Varina and Holly Springs are even more accessible with NC540 open now.
Another place I expect to see prices appreciate is Louisburg. When the new 401 Rolesville by-pass is finished in two years will make Louisburg very easy to get to and from.
This all said, if youâ€™re buying a home solely on appreciation potential, that may be the wrong reason to buy that home. If your an investor and make your valuations on appreciation, again that is the wrong valuation model to use.
Buy a Home that Fits your family, fits your life style, and good location reletave to your work and life style.
Good Luck and happy house hunting.
Allen Tate Realty
The homebuilders association just released new data showing a dramatic rise in building permits. The rise was 26% for Raliegh, but much higher in selected pockets of pending prosperity, such as Rolesville, with a rise of 218%. Rolesville benefits from the 4-laning of highway 401. The next phase is the by-pass around Rolesville, which will bring Louisburg (in Franklin County) into comfortable commuting range.
The overall increase in building permits portends a profoundly positive effect on the entire market. New construction has been very slow for several years. Now that it is regaining momentum, lots of construction workers will be will be going back to work, causing the unemployment rate to drop further. Raleigh is already at the top of many lists for growth and qualtiy of life. Add in a strong job market and falling unemployment, and you have a formula for further appreciaition.
It was also designated the best place to live in 2011. Based on metrics like school performance, green space, and cultural amenities, Raleigh, N.C., ranks No. 1 in Businessweek.comâ€™s first Best Cities ranking.
People are moving to the Raleigh area. Let me know if you would like more information.