Whats the general public perception on 3 storied town houses? Whats an average appreciation rate for a property in Morrisville?

Asked by Roulette, Morrisville, NC Mon Feb 8, 2010

Also how quickly do they move for both sale and rentals? Thank you.

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Joe Matthews, MBA’s answer
Joe Matthews,…, Agent, Cary, NC
Tue Feb 9, 2010
All are good points raised by my fellow respondents here. I just pulled some data from Breckenridge in Morrisville where I could compare 2 storied & 3 storied homes side-by-side.

Some of my observations based on data since 1/1/08 are:

The average sq ft price is around 16% lower for 3 story homes.
The average rent is around 17% lower fro 3 stories.
The average 'days on market' before sale is slightly higher for 3 stories.
The difference between 'list' and 'sold' is higher for 3 stories.
Appreciation (when compared to purchase price for the small sample I checked manually) was higher for 2 stories.

- Again, location is a very important factor. The 3 storied town homes at Stonewater by Lennar in Cary have been selling very well. Only 4 left! Also, Legacy at Carpenter Village is a good neighborhood to look for 3 storied homes, some with 4 bed rooms and 3.5 baths, with good upgrades and fiber cement siding in the very low $200's.
Web Reference:  http://www.RealTriangle.com
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Dan Chase, Home Buyer, Texas City, TX
Mon Feb 8, 2010
My personal opinion is a 3 story house is to big, has to many stairs, and costs way to much. I would prefer 1 or 2 story houses. They are easier to get around in.

(not a realtor, just a guy who thinks ahead a bit)
0 votes
Jim Laudate, Agent, Cary, NC
Mon Feb 8, 2010
Three story townhomes offer more square footage in the same space. Designs offer the first floor with a garage and family/bedroom. Another plan offers the living on the first floor with a large master suite on the top floor. Appreciation rate can be discussed with your buyer's agent.If you don't mind climbing stairs they offer a lot of space. Let me know how I can be of help.
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