Are there any predictions about increased housing values in the North Hills vicinity - either North Hills itself or Bellvue Terrace?

Asked by Leighburchell, Raleigh, NC Sat Jul 27, 2013

I'm specifically wondering how those neighborhoods compare to the rest of Raleigh, given the incredibly rapid pace right now of flips, knock-and-rebuilds, and major renovations in those neighborhoods. Is that area predicted to have greater appreciation than some others?

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Carla Freund, Agent, Raleigh, NC
Sat Jul 27, 2013
Hi Leigh,

No one can really predict what will happen with appreciation in those areas. North Hills area was very strong during the recession. We're seeing fewer flips as there aren't as many foreclosures and not as many "deals" out there. There is so much that goes into pricing even within an area. For example, a home in North Hills on a main road may not sell for as much as one located on a neighborhood's interior roads. a split plan may be priced differently than a ranch or other style. It could also depend on the updated, upgrades, and age of major mechanicals.

It does seem there have been a good amount of renovations in the historic Raleigh neighborhoods lately. That could be attributed to the fact it has been less expensive to do renovations since vendors have been competing for jobs.

If you're looking to buy, you really should speak to a Realtor who can help you figure out what the best property is given what's available. They can also show you what's happened historically in a particular neighborhoods.
Web Reference:  http://www.NCStyleHomes.com
0 votes
Ernie Behrle, Agent, Raleigh, NC
Sat Jul 27, 2013
I'm not sure that anyone can give a true prediction of what is to come. I did look at the MLS stats for Raleigh, Raleigh North and Wake County that are published on a monthly basis. For the month ending June 2013, the median price for a home in Raleigh showed a 0.6% increase over the same YTD time period as 2012.. Yet Raleigh North, and quite honestly did not see anything defining the boundaries for this, dropped by 0.3%. Wake County as a whole showed a 2.3% increase over last year. Our increase percentages are less than are being reported for the national average as our area did not suffer as much as much of the country so that we reflect smaller percentages to get back to where we were. From a personal point of view, foreclosures and short sales seem to have declined which means our appreciation should start to reflect from more positive type sales.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more