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Old 06-30-2013, 05:56 AM
 
Location: Roanoke, VA
1,766 posts, read 3,264,215 times
Reputation: 1041

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When I go on realtor.com and compare properties within a price range in Greensboro and Virginia cities, it looks like you can buy a newer, nicer property in Greensboro than you can in Richmond, Roanoke, Newport News and many other Virginia cities within that price range. I have confined my searches to properties built in the last ten years. I realize Greensboro is bigger population wise so the market is bigger.

Is land that much cheaper? The building components should not have that much difference in price. I have only been in Greensboro a few times, but it looks like a nice place to live.

Thanks in advance!
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Old 06-30-2013, 06:22 AM
 
Location: The Triad (NC)
28,501 posts, read 62,217,072 times
Reputation: 32192
Quote:
Originally Posted by TN Lily View Post
When I go on realtor.com and compare... it looks like
1) be certain that you're comparing comparable area's
(median income, schools, crime, etc.)

2) be certain you are comparing comparable houses
(above grade floor area -GLA- in particular)

LINK to some $100,000-$200,000 3BR 2BA homes with garage in WS
similar LINK in Roanoke

Last edited by MrRational; 06-30-2013 at 06:57 AM..
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Old 06-30-2013, 01:08 PM
 
Location: NC High Country
3,867 posts, read 6,665,274 times
Reputation: 3829
I think it's really difficult to have true comparables among various cities in different states. There are so many intangibles that factor into specific locations and neighborhoods. Can broad generalizations be made about real estate comps? Sure.

I think the better questions are - does a particular city meet your personal criteria? Can you find a home in that city that meets your criteria within your budget and that you think is a fair value?
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Old 06-30-2013, 03:02 PM
 
Location: Ormond Beach, FL
1,359 posts, read 1,398,693 times
Reputation: 1247
Virginia is not homogenous, just like NC is not homogenous. Looks at northern Virginia (Fairfax, Alexandria and Arlington counties) if you want to see sticker shock. Then look at prices in Covington. Not very similar. As the realtors say, location, location, location.
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Old 06-30-2013, 08:26 PM
 
Location: Greensboro, NC
779 posts, read 2,932,482 times
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Greensboro is a great place to live and it is that much cheaper, yes! We lived in the DC metro area of Virginia and it was simply UNaffordable for a hard-working couple like ourselves to make ends meet. We went to several places around NC, and we love it here. It's pretty comfortable, affordable, and you can basically get anywhere within 30 minutes.

Rush hour "traffic" doesn't exist here the way it does in VA! But like anywhere you live, you grow accustomed to doing it the same way, day in and day out. I still can't believe I allowed myself to live in a place like northern VA for so long, commuting 1.5 hours each way. Seems like such a waste of time.

There really is a house for every budget here! It's smaller and I think you should come visit and see what you think of the area. I think the biggest complaint some people have is that the young 20's crowd gets a little bored here, because it's comfortable...aka not "super exciting." But it's a GREAT place to raise a family!

The other thing I really REALLY love about Greensboro is that people are straight up nice here. Don't be bringing any impatient, rude behaviors from other places here! Folks will let you know right away that's not how it's done here, plain and simple. And that's a pretty good thing, I think.
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Old 07-01-2013, 04:12 AM
 
Location: Roanoke, VA
1,766 posts, read 3,264,215 times
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I live in the D.C. area for many years on the Maryland side of the river. I agree with ibeg4sushi --- the commuting is a frustrating waste of time. I never want to go back to that area. And from what I can tell online (albeit limited) it appears that there is a decent house in a decent neighborhood at most budget levels in Greensboro.

I realize it's hard to compare markets and crime and public school quality and neighborhood amenities are shown online. And Greensboro is much bigger than say Roanoke. At lower budget levels (under $200K) in many of the Va. communities, the houses are old and in need of updating. $200K or under Greensboro turns up much newer and nicer looking homes. I cannot imagine that most of these homes built in the last 10 years are in bad neighborhoods.

Thank you for all the replies!
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Old 07-01-2013, 05:44 AM
 
Location: The Triad (NC)
28,501 posts, read 62,217,072 times
Reputation: 32192
Quote:
Originally Posted by TN Lily View Post
I realize it's hard to compare markets and crime and public school quality
and neighborhood amenities are shown online.
To assess these things deeply requires shoe leather.

But there are online tools to point you in the right direction:
Rich Blocks, Poor Blocks | Neighborhood income and rent maps of U.S. cities
Assets & Opportunity Scorecard
State and County QuickFacts
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Old 07-01-2013, 01:44 PM
 
Location: Roanoke, VA
1,766 posts, read 3,264,215 times
Reputation: 1041
Mr. Rational, you are correct. But looking online might tell one where or where not to take the shoe leather to begin looking.
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