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Miguel, Home Buyer in Los Angeles, CA

Is this area a good investment area for a 5 year hold property?

Asked by Miguel, Los Angeles, CA Sat Dec 29, 2007

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You should look into Wilmington North Carolina Real Estate. The Market was just rated #5 by Money Magazine - Hottest Markets for Real Estate in 2007.

Huge development is planned for the Historic Downtown Area.
0 votes Thank Flag Link Sun Dec 30, 2007
I think this is a great area for a 5 year hold.Currently,there are great properties available and opportunities,especially in the Downtown Raleigh area.In the next 2-3 years there is going to be a major influx of residents moving into Downtown Raleigh which will continue to drive prices up as there is a limited supply in this area.
0 votes Thank Flag Link Sat Dec 29, 2007
Yes. We've had very steady appreciation. The reason the Triangle is ranked so high on national lists, such as Forbes, is because we have not had a real estate "bubble," and we have very stable employment. 100 people a day move into Wake County, which has effectively offset the loss of the sub-prime market.
#1 For Jobs:

http://www.forbes.com/lists/2007/1/07bestplaces_Raleigh-NC_1…

#1 For Real Estate:

http://www.wral.com/news/local/story/1630152/




Really, this is generally a better "hold" market than flip market for that reason. Again, looking to the loss of subprime, there are plenty of people who would normally buy who now need to rent or look into lease/option.

FYI, here are the top appreciating neighborhoods in the Triangle:

Hi Mount (14.8%)
2. North Hills (13.3%)
3. Sunset Hills - Raleigh (12.9%)
4. Woodcrest (12.5%)
5. Boylan Heights (11.7%)

Best of luck!
0 votes Thank Flag Link Sat Dec 29, 2007
In general, the Triangle area has seen annual appreciation of about 6% over the past 5 years. Because the appreciation has been slow and steady, prices have not overinflated and market adjustments are much less likely than in many other areas. The area continues to grow. Retirees move here because the weather is good, but prices are much lower than much of Florida. There are major universities and the Research Triangle Park, which draw students and professionals. This area has been called the "Silicon Valley of the East" - but home prices here are less than half of what a comparitive home sells for in the San Jose/San Francisco area. There are sports and cultural activities, and Raleigh is close to the mountains, the ocean, and many lakes and rivers. There's something for everyone!

If you are looking for information on that particular zip code, I'm sure a real estate agent will be able to pull appreciation rates in that specific area.
Web Reference: http://www.StantonHomes.com
0 votes Thank Flag Link Sat Dec 29, 2007
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