Home Buying in Corvallis>Question Details

Nikki, Renter in Corvallis, OR

Why is it that older homes in NW Corvallis are more expensive than newer built homes in other areas Corvallis (particularly South Corvallis)? We are

Asked by Nikki, Corvallis, OR Wed Jun 29, 2011

relatively new to the area and like the North side of town, but are kind of shocked at the prices of some of the older homes in that area.

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6
Infrastructure mostly, you can reach most of what you need much easier and faster north west of the university. Hwy 24 and 20 sort of divide the town. Inventory in the North is limited, no subdivision like Willamette Landing, so it also good old supply and demand
1 vote Thank Flag Link Fri Feb 10, 2012
Infrastructure, plain and simple. You can be at schools, shopping, recreations etc often within 1 mile radius in North Town. Inventory is stable, there are hardly any newly built homes thus you are dealing with a fixed amount of houses. South Town, like Willamette Landing, is still expanding, they are creating new inventory.
At the end of the day it is desireability and that is based on what most people want, fast access to amenities, dowtown and established neighborhoods. All that you find in North Town.
0 votes Thank Flag Link Sat May 5, 2012
One of the main reasons is that the homes built in the SE, the newer ones, were built on less expensive flat ground. They were built under newer city regulations that made the lots smaller as well so the homes are a lot closer together. The new homes are nice and a great community feeling has developed there but some buyers still prefer to be closer to grocery stores, the aquatic center, the high schools etc. The NW homes tend to have larger lots and if they are in hilly areas cost more to construct in the first place.
0 votes Thank Flag Link Fri Apr 27, 2012
Annette's answer is best. South Corvallis is NOT all in a floodplain (I should know, my house is in South Corvallis and not in the floodplain. Nor were we "underwater" at any point in recent history). South Corvallis is generally a safe area, which you can confirm yourself by looking at stats. The "bad" parts of town crime-wise are actually north, along 9th Street.

My husband and I looked at houses in north Corvallis that were more expensive and in much worse shape than we ended up finding in Southtown. The reason we were told? Southtown has a reputation as being racially and economically diverse. But we bought a terrific house in a quiet neighborhood, we can walk to the park and downtown, no issues with college kids... it's great. We don't have kids so schools aren't an issue, but if we did, we'd want them to go to the dual immersion elementary down the street.
0 votes Thank Flag Link Mon Mar 5, 2012
South Corvallis is in the 100 year flood plain - that is section south of the Hwy20-34 overpass. You've got a confluence of two rivers out there. Check the new updated FEMA records which show that entire area under water during a major flood. So. Corvallis also has lots of crime. There tend to be many misdirected people living in that area. No one wants to live out there, which is why the housing prices are lower.
0 votes Thank Flag Link Sun Nov 13, 2011
Hi Nikki - There are a lot of factors that go into pricing of a home, but one of the the things you're likely seeing are access to certain schools. I'm not sure which homes you're looking at, but quality of construction and how well a home has been maintained may be a factor here too.

Christine Hauser CRS SRES
Lic'd Oregon Broker
0 votes Thank Flag Link Wed Aug 3, 2011
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