Home Buying in Durham>Question Details

Maggie, Home Buyer in Boulder, CO

We are moving to Durham and looking at a home in the Hillandale Watts area, remodeled 5 br/ 3ba, triple lot,

Asked by Maggie, Boulder, CO Fri Feb 1, 2008

new kitchen 2800 sq ft. They are asking 499,000 which seems a bit high for the area. Could someone give me some feedback? Thanks

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9
Maggie,
What type of information do you need? Of course I should ask are you already working with a buyer's agent? If you are just ask them for a CMA of the home/neighborhood. As far as the listing I cannot comment yet since I have not seen it nor do I know what kind of upgrades they have in the home. It is not uncommon for residents to over improve their home and think that they can recoup all of the improvements that they have put into their home. So you may be correct in stating that the price is high.

Are you relocating from CO? I just helped someone buy a home here in Greensboro from the Denver area.

Well Good Luck and let me know if you have any questions or need any help.

Larry Story
Coldwell Banker Triad
1 vote Thank Flag Link Thu Apr 3, 2008
Actually, having watched prices skyrocket in W-H over the past 8 years, I'm not surprised someone is asking that much for such a large house on a large lot. The price may seem high because there are no comps that are as big--most of the houses/lots there are much smaller--but if you compare the price per sf with other recently-sold homes in that area it's not so farfetched.

That area has become one of the most sought-after in Durham by people who want to live in a friendly, tree-lined, relatively safe central neighborhood. I do not doubt that someone will pay that much for a big, beautiful house in W-H (I probably would if I could afford it). I'd be happy with a 2 br, 1 bath house on a single lot in Watts-Hillandale, but I can't find one for less than $200,000--which is already way over my budget ;-)
0 votes Thank Flag Link Wed Apr 2, 2008
One easy way to find out is to have a REALTOR do a search of sold homes for you and provide a comparative market analysis. Most homes in the Hillandale area sold in the high 200s in the past year. I would be happy to send you a comparative market analysis if you are interested. No obligation, I will just need your email address.
0 votes Thank Flag Link Wed Mar 5, 2008
Take a look at 3206 Sprunt ,and 10 Haywood Ct. in Durham. Let me know if you would like to look at them.
Michael
0 votes Thank Flag Link Mon Feb 18, 2008
Hi,
I know that neighborhood very well, grew up there, and have family still living there. That price does not really surprise me, especially if the lot is that huge. The neighborhood has historical status, and many of the homes are old and grand. It is a very sought after neighborhood, and though many homes seem incredibly over-priced (compared to other areas of Durham), people often get what their asking, however exorbitant. Bottom line - great neighborhood, good luck!
0 votes Thank Flag Link Mon Feb 18, 2008
That's waaay too much. For that kind of money, you can do better, and in that neighborhood, too.

$178 per square foot? That's insane. Here you should be paying about 120 for something nice, 150 for something swanky. You're paying, it would appear, for the big lot.
0 votes Thank Flag Link Sat Feb 16, 2008
Hi I am a buyers agent working in Durham and know that area very well. If you would like to contact me I would be happy to help you find a home. Of course my services are free of charge to you.
Michael
0 votes Thank Flag Link Fri Feb 1, 2008
Hi Maggie,

I am a former resident of this area and know of an excellent buyers agent if you don't already have one. I agree with Penny, you really should have representation.
0 votes Thank Flag Link Fri Feb 1, 2008
Hi Maggie,

Are you working with a local buyer's agent? If so, they should be able to pull the comps and do a CMA for you.

If you are not working with a buyer's agent, you need to get one as quickly as possible. The service is free ( most of the time), will save you time, energy, and money especially if you live out of town.

I would be happy to work with you if you do not already have an agent.

Best Wishes!
0 votes Thank Flag Link Fri Feb 1, 2008
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