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is the oak hills area in provo utah a good investment? many of the homes are built in the 70's possibly have

asbestos ceilings....what do you think is it a good investment if the home is a good condition and has nice view and landscaping...is the asbestos textured ceiling a downfall and do you think the area will hold its value?
 
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Home Buyer
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Melinda, Home Buyer in Utah in Utah
Answers (3)
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Dustin Schick… was FIRST TO ANSWER
A first class answer by Dustin, he has covered most of the points and therefore I will not be repetitive. Typically the N/E bench in Provo has attracted plenty of buyers, its where people want to be. Employ a good agent to do the comps and pay a fair market value and you shouldn't be disappointed. If I can help, please call.

Wed Jun 4 2008, 13:05
 
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it will depend on how much you are offering to depend whether it is a good deal. Thier are still people out there that are in la la land with the value of thier homes. Thier definitely has been a price correction but not huge especially where you are looking. As for the asbestos ceiling it is easy to remedy and have it scraped off. If you don't it will only be a problem if you are planning on eating the ceiling, it may look like freshly popped popcorn and could be look a little yellow like it has a fresh coating of butter glazzed on it. This may cause you to eat it, but if you don't fall into these temptations you will probably be ok living there and not have any problems. Thanks james graham
go to my website if you have anyquestions.

Thu May 29 2008, 13:08
 
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FIRST ANSWER
Oak Hills has traditionally been a very good place to invest in real estate because of some of the perks to the area:
1. It is located close to BYU (which generates higher demand due to those wanting to be close to campus, such as professors and students). Home buyers usually pay a bit of a premium in these areas because of the greater desirability, but in conjunction, this area has typically been very strong in regards to real estate.
2. It is located nearby parks such as Rock Canyon, Uncle Bud's, and Kiwanis
3. It is near the mountains, the Provo River Parkway, and the Bonneville Shoreline trails
4. Many properties are higher in elevation and offer scenic views of both the mountains and the valleys

However, there are certainly some things to consider about that area as well:
1. Generally older, more established homes. Many of the homes in the area were some of the first ones built in and around Provo. A lot of unique architecture and home remodeling has been done in this area. As with all older homes, asbestos and lead-based paint must be considered and proper precautions taken.
2. Provo Zoning Issues - some homes are located in Provo's S-Overlay, and some are not. Homes within the S-overlay are allowed to have legal accessory apartments as long as the homeowner also lives in the home. Because of this, there are many renters in this area who are also attending BYU. Some homes illegally rent to students when they are either not in the S-Overlay or their accessory apartment is not approved. This has caused some friction among neighbors. If you are looking into a home with a possible apartment, it is incredibly important to know the status of the legality of the apartment.

Considering these factors, among others, as long as you find a good-quality home for a fair market price, this is a more desirable area and should be a good investment. Be sure to get a good buyer's agent working on your side to protect your best interests and save you money - of course I would be happy to help and you are welcome to contact me with any further questions.

Wed May 28 2008, 15:05
 
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