Why Are Homes Cheaper in the 27610 area of Raleigh? (Holly Springs: for sale, real estate)

[LeadingLady07]

I went on a real estate site and the majority of the homes were in the 27610 zip code. Is this a less desirable section of town as to the reason beig why there is so many homes available in this area? I see they are building new homes in this area that are 3,400 sq ft but the price is less than 300k. Can someone give me some insight on this. My sister asked her realtor for me, but she said she could not discuss the area as being good or bad.

[Wanna Leave Penciltucky]

Real estate prices are based on Location and comps. SO the reason why the prices are cheaper is the location and the comparative housing sales in the same area. Realtors please chime in.

[autumngal]

I do know that area was just listed as a high filed foreclosure area. I think you can find the info on WRAL news.

[North_Raleigh_Guy]

There has been some good discussion about this in the past. You may want to start with these threads:

http://www.city-data.com/forum/ralei...e-27610-a.html

http://www.city-data.com/forum/ralei...ats-wrong.html

[LeadingLady07]

Very intersting.....There is crime everywhere you go, but no one wants to really move into a high crime area. I'm not a parent, so the school system isn't a major concern for me. From reading the posts from the links sent by North_Raleigh_Guy (Thank you!!) I would think just as long as I don't have to duck bullets the area may not be too bad for me. . I think I would rather have more house for my money. If they are building new homes in the area I believe it will eventually make the area better.

[sacredgrooves]

the sheer amount of foreclosures in that area kills your houses ability to gain equity. Think about what else comes with a large number of foreclosures in an area....people that do not take care of their property, people that do not adequately work, higher crime rates. There is a snowball effect that you should think about and draw your own conclusions from. is an extra few hundred sq ft worth it? If you want space, I am building a house in Holly Springs, Holly Glen subdivision. 3400 sq ft very well trimmed for about 305k...and none of the negative trappings of 27610. There are about 75 lots left in the neighborhood with a new Walmart, and Harris Teeter shopping centers going in right next to the new pharmaceutical company Novartis which will open next year. There are alot of better areas to get space for your money imo.

[Windsong765]

I don't mean to be disrespectful of anyone choices with their money, but it seems like having a home that size in that area will not have much value in the long run. You might want to research before you buy in that area.

You should go and view the video on WRAL News. They show that 27610 had the highest amount of foreclosures. You appear to be a first time home buyer like myself. Knowing this will be one of the biggest investments you will make in your life, you should have as much information as you can find.

I can understand you wanting something big, but you should want something big in a neighborhood where your house will gain equity. I explained to my realtor in the beginning. This is our first time buying a home. We can get a home over 400k, but we are only looking at homes in the 250k to 300k because we don't want a huge mortgage. We are going to ask a lot of questions and I pray we don't get on your nerves before I complete the process of buying a home.

The realtor we have is great, she sent us a lot of information in the mail. She has sent me several homes to look at via email. She is a joy to work with. If you want her name send me a PM.

[ferrickhead28]

I have some friends who have had their house on the market now for NINE MONTHS. They moved down here from New Jersey, bought the house in this new neighborhood and after about a month, their house got broken into twice in one week. There is constant graffiti all over the fences, they actually took down their fence because they didnt want their young son to see what was written on it.

They moved out about 3 months ago, renting an apartment near where I live. Since then, they have gone back about twice and both times someone had broken into their home and spray painted some horrible things on their inside walls.

Every other house in their neighborhood is currently up for sale and they live in that zip code. I'm sure there are some nice neighborhoods in that area, my friends just got suckered into buying a house in a "supposed" safe area.

Just be careful!

[VickiR]

And the AMAZING thing is that when I, the real estate agent, say that that area of Raleigh has a bad reputation, I get people that say I shouldn't say bad things about any area!

Well, here is the truth, guys. The area around Rock Quarry Road and Poole Road has ALWAYS had a bad rep. due to lower income housing and foreclosures and people just not taking care of what they have.

Now having said that...developers are building out there like crazy. Well, there IS alot of land out there. Developers and builders say this will be the next "boom" area.

I hope so. But for right now, the appreciation isn't there. I ALWAYS give my clients the FACTS and then its THEIR decision, but I do get a bit frustrated with those of you that want everything sugar coated!

Like I can keep my mouth shut???

Vicki

[ferrickhead28]

Originally Posted by VickiR

And the AMAZING thing is that when I, the real estate agent, say that that area of Raleigh has a bad reputation, I get people that say I shouldn't say bad things about any area!

Well, here is the truth, guys. The area around Rock Quarry Road and Poole Road has ALWAYS had a bad rep. due to lower income housing and foreclosures and people just not taking care of what they have.

Now having said that...developers are building out there like crazy. Well, there IS alot of land out there. Developers and builders say this will be the next "boom" area.

I hope so. But for right now, the appreciation isn't there. I ALWAYS give my clients the FACTS and then its THEIR decision, but I do get a bit frustrated with those of you that want everything sugar coated!

Like I can keep my mouth shut???

Vicki

I agree with Vicki!
My friends got a sugar coated story on how their property is going to be in demand within a year or so. (Yeah, by graffeti artists!) The agent really sold them in the area, it was below the price they were looking to pay for a house so they really thought they got a deal. They moved into the neighborhood right when other neighbors were just moving in too.

They really would have appreciated an honest realtor instead of the one they got.

Funny part is, one of the cops who often frequent that area was in their wedding party, lol.
Too funny!