Hillcrest vs. West LR (Little Rock, Conway: real estate market, high crime, loan)

[movingfromga]

I'm having a lot of trouble deciding between these 2 areas. I'm moving to LR to work at UAMS and would like to live close to the hospital. Currently don't have any school-going children. Was told to look in Hillcrest/Heights area, as they are the "best" areas to live in. I was hoping to get locals' opinions on Hillcrest vs. West Little Rock living.

1. Hillcrest house we're considering is $100k more than WLR house
2. Seems to be a lot more crime in Hillcrest/Stiff Station area compared to WLR area (is it safe??). According to police reports, even in elite areas break-ins and assaults happen on a regular basis. I will likely have odd work hours and will be coming home late or leaving very early in the morning.
3. Resale - will it truly be easier to sell Hillcrest house in 4 years (most likely will be moving then)?
4. With so many new houses being built in WLR, will it be difficult to unload the house in a few years?
5. Investment - is it worth taking a larger loan for Hillcrest house, if we think it will pay off more significantly than the WLR house?

In the end...which option is wiser/better?

[rackensack]

I think the big decider should be which type of living appeals to you more -- if you're moving from GA, and are familiar with the Atlanta metro, Hillcrest/Stift Station/Pulaski Heights will be more like living in Virginia-Highland or Decatur, while WLR will be more like living in a newer suburban area like Alpharetta or Sewanee or Kennesaw. There's more property crime in the intown areas just as there is in the intown areas of Atlanta, but you're certainly not immune from it in the suburbs. If you're going to be at UAMS, for me the convenience of potentially being able to walk to work, or at least being within a couple of minutes from work, would be worth a lot, but I realize others might have different opinions. I'm not an expert on the LR real estate market, having been away for quite a while, I don't know of any reasons why either would be particularly risky.

Trying to guess what the real estate markets will be like in a few years is a mug's game. You're going to pay a certain amount for a place to live no matter what; the last decade or two notwithstanding, you haven't failed as a human being if your property doesn't double in value every five years. It seems unlikely to me that property values in either area will go down dramatically, so you're not likely to lose money on the deal with either one, and personally I'd rather live someplace I like for four or five years and make a bit (or even a lot) less when I sell than be miserable living someplace for the same amount of time but make a lot more money. All things being equal, if you're mainly looking for stability, you're more likely to get that in an older, more established area where the overall rate of change is lower than in a fast-growing area that could start growing in all the wrong ways (traffic, crime, school quality, etc.) just as easily as it could continue growing the right ways. Hillcrest or the Heights in five years are going to be essentially what they are today, which is essentially what they were twenty years ago when I was hanging out there. WLR barely existed then, and there'll be much more change to come in the next five years.

But I wouldn't buy in Hillcrest solely on the expectation of making more than if you bought in WLR. Buy where you want to live at a price you're comfortable with. Odds are good that if you don't overpay in speculative market, you'll find someone to sell to who sees things the same way when that time comes.

[bchris02]

Both areas are very classy and cater to affluent people. However, both center on completely different lifestyles.

Hillcrest: urban, walkable, very short commute, character, local businesses
WLR: suburban, car-centric, big box retail, gated McMansion developments, longer commute (yet still short compared to Conway or Benton/Bryant)

As far as crime, Hillcrest is a safe area but it is a lot closer to areas that are on the shady side. WLR is suburban in every aspect and is very safe as is Maumelle. Benton/Bryant and Conway are the fastest growing areas of the LR metro due to cheaper housing, but these days you aren't saving much when you factor in gas prices for commuting.

[Ira500]

I'm not real familiar with price trends in the Little Rock area, but have to reiterate what Rackensack said:
Right now is not a good time to buy a house thinking about how much it'll be worth a few years down the road. Way too risky to think like that.
Buy a house because you feel good in it and like the neighborhood; buy a house because it could feel like home.
I don't know West LR at all, but the Hillcrest area is a lot of fun, and has some great old houses.

[Hog-I]

I would only add that the houses in Hillcrest are generally pretty old. For many people this is a positive attribute, but for others who don't like to perform a lot of maintenance, this may be a negative.

The houses in WLR, although not all are new, are typically not nearly as old.

I really like the Hillcrest area. However, I am probably the farthest thing from a handyman, so that kind of precluded Hillcrest for us when we were house hunting.

[movingfromga]

Thanks everyone for your advice - really good input! I guess I should clarify a few things:

1. I love the Hillcrest home. Just don't know if it's worth the extra $100k. Worth meaning = higher crime and potential further decline of market.
2. I like the WLR house, but don't love it. Also, would prefer to be closer to UAMS. Still, all things considered, I'd be very happy living in this home too.
3. My main concern is the safety of Hillcrest. I love the older houses and charm and character of neighborhoods, but I also like restricted entry/exit of newer suburban developments.
4. I understand intown crime is always going to be higher than suburban crime. I've lived in Decatur, GA and loved it...never felt unsafe, though I'm sure it's more "dangerous" than Alpharetta or Marietta. Still, I'd rather live in WLR if I'm going to have to deal with regular break-in attempts or other situations.

I sense that LR crime is a sensitive topic for some people. I really need an honest opinion. Crime can happen anywhere, but there are tendencies, etc. I take it that WLR is safer than Hillcrest. But is Hillcrest safe? Is it common to have several break-ins on a normal neighborhood street regularly? How do local people deal with these kinds of situations. Are there good precautions?

Thanks again.

[bchris02]

Originally Posted by movingfromga

Thanks everyone for your advice - really good input! I guess I should clarify a few things:

1. I love the Hillcrest home. Just don't know if it's worth the extra $100k. Worth meaning = higher crime and potential further decline of market.
2. I like the WLR house, but don't love it. Also, would prefer to be closer to UAMS. Still, all things considered, I'd be very happy living in this home too.
3. My main concern is the safety of Hillcrest. I love the older houses and charm and character of neighborhoods, but I also like restricted entry/exit of newer suburban developments.
4. I understand intown crime is always going to be higher than suburban crime. I've lived in Decatur, GA and loved it...never felt unsafe, though I'm sure it's more "dangerous" than Alpharetta or Marietta. Still, I'd rather live in WLR if I'm going to have to deal with regular break-in attempts or other situations.

I sense that LR crime is a sensitive topic for some people. I really need an honest opinion. Crime can happen anywhere, but there are tendencies, etc. I take it that WLR is safer than Hillcrest. But is Hillcrest safe? Is it common to have several break-ins on a normal neighborhood street regularly? How do local people deal with these kinds of situations. Are there good precautions?

Thanks again.

Hillcrest isn't a high crime area. I know several who live there and love it. They also say they have never had a problem with break-ins. I don't see that area declining soon either because it is a prestigious thing to say you live in Hillcrest. That said, Hillcrest is a lot closer to shadier areas than is WLR. While Hillcrest itself is safe, sometimes you can feel the effects of being closer to a not-so-good area. Using good common sense would be a good idea i.e. don't leave your doors unlocked. I live in Riverdale which is right next to Hillcrest and haven't had a problem yet *knocks on wood*. I wouldn't let crime scare you away from Hillcrest if you prefer that environment.

[Sam I Am]

I don't think you will see depreciation in the Hillcrest area at all other than the general downturn of the market. The further south you get toward the Med Center used to be a little dicier, but that's not really the case anymore. It's an area that has really, really changed for the better in the past 10-15 years. I wouldn't want to live right at Markham just because of the noise and traffic but it is a really neat area.

The Dem Gazette used to do a weekly crime stats column and a lot could be learned from that if they still have it, just make sure you're up on your terminology before trying to decipher it. Sometimes it sounds worse than it is and sometimes things reported as "assault" or "battery" are between two people who couldn't find a compromise and chose to duke it out. Quick lesson on property crime - "breaking and entering" is a nonoccupiable structure, like a garden shed or car. "Burglary" is theft or entry with intent to an occupiable structure. "Robbery" is either a hold up with a weapon of any type or an attempt a theft, even from a grocery store, where someone gets injured in the process...say a shoplifting where the perpetrator knocks down someone in an attempt to escape after getting caught. (One of my little pet peeves is people saying their house was robbed...technically impossible!). I'm sure if you would go to the police department at 700 W. Markham they would put you in touch with someone that could give you the crime stats for any neighborhood you choose...that may help to put your mind at ease.

I agree with bchris. Head up, eyes open, lock your house, lock your car...no matter where you end up buying. I personally like the older areas of Little Rock the best - the huge trees and the settled feel. Just be sure and get a home inspection on any house you buy and be aware - many of the older homes have had significant upgrades and have been redone with new wiring, floors, etc. that will make them no different than a new house in an older shell, but some haven't and you'd just need to build any potential repairs into the budget. As the owner of an 1872 house, I know really well about that....sigh....

[rackensack]

Originally Posted by movingfromga

4. I understand intown crime is always going to be higher than suburban crime. I've lived in Decatur, GA and loved it...never felt unsafe, though I'm sure it's more "dangerous" than Alpharetta or Marietta. Still, I'd rather live in WLR if I'm going to have to deal with regular break-in attempts or other situations.

If you've lived in Decatur and loved it, once you get familiar with the Hillcrest area, there's absolutely no reason you'd feel less comfortable there than you did in Decatur.

[movingfromga]

I think I've gotten my gut feeling response from reading all the posts, and I really appreciate everyone's input!

Do people go for walks around their neighborhood streets in Hillcrest after dinner? I don't mean hanging outside at 2 am, more so enjoying the weather outside after sunset (dark enough for "bad" things to happen). And also what does the scene look like during Halloween? Do many parents take their kids trick-or-treating to neighbors' houses?

Also, are there any building regulations in Hillcrest that wouldn't allow for a rear entry garage to be built?