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Old 04-17-2012, 05:54 AM
 
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"Maybe the reason the area hasn't exploded as some properties have inside the Beltline is due to the rumors that some real estate agents spread."

I don't beleive that is what is keeping the values so low. Besides it wasn't rumors that lead to my coworker wanting to move. And nobody is comparing Brentwood property values to places like Oakwood where they have craftsman and victorian style homes. I think a more appropriate comparison would be a neighborhood with similar proximity to downtown with homes from the same era (1960's). Like perhaps Meredith Woods which also resides just outside 440 and has split levels from the 1960's. A quick look at the listing shows similar homes but with much higher prices in Meredith woods (by almost $100K). Now that is good if you are looking for a lower priced home, but it does cause me pause to wonder why one communtiy built in the 1960's took off in value and another didnt.

People have had over 60 years to "discover" Brentwood. If they haven't by now there is usually a reason for that. The thing here is to figure out what that reason is and understanding if you can live with it - and if you can all the more power to you.

Trying to blame lower property values on "rumors" is a bit niave I think.
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Old 04-17-2012, 06:10 AM
 
Location: My House
33,222 posts, read 26,992,564 times
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Quote:
Originally Posted by North_Raleigh_Guy View Post
"Maybe the reason the area hasn't exploded as some properties have inside the Beltline is due to the rumors that some real estate agents spread."

I don't beleive that is what is keeping the values so low. Besides it wasn't rumors that lead to my coworker wanting to move. And nobody is comparing Brentwood property values to places like Oakwood where they have craftsman and victorian style homes. I think a more appropriate comparison would be a neighborhood with similar proximity to downtown with homes from the same era (1960's). Like perhaps Meredith Woods which also resides just outside 440 and has split levels from the 1960's. A quick look at the listing shows similar homes but with much higher prices in Meredith woods (by almost $100K). Now that is good if you are looking for a lower priced home, but it does cause me pause to wonder why one communtiy built in the 1960's took off in value and another didnt.

People have had over 60 years to "discover" Brentwood. If they haven't by now there is usually a reason for that. The thing here is to figure out what that reason is and understanding if you can live with it - and if you can all the more power to you.

Trying to blame lower property values on "rumors" is a bit niave I think.
Nice post, NRG.

I remember Brentwood when it was a desirable neighborhood.

It IS crime, I think, that keeps housing prices low. It's not the houses themselves (per se). There's more than one area with 1960s homes (including Meredith Woods, as you mentioned, and some here in Cary, too) and they have higher property values.

Granted, I don't think all of Brentwood is crime infested. I just think many buyers are put off by the area because there are so many scattered pockets of questionable streets / apt complexes that are undesirable, lack of preferred shopping in strip malls, etc that they just buy elsewhere.


Yanno what I've always noticed is that neighborhoods directly off Capital Blvd just seem to struggle. I have wondered how much of it has to do with US 1 funneling travelers through that corridor. Heck. I remember when Mini City was a nice area, too.
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Old 04-17-2012, 07:14 AM
 
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Yet crime is higher in the Oakwood area where houses are more desirable.

Interesting, isn't it?
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Old 04-17-2012, 07:19 AM
 
Location: My House
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Quote:
Originally Posted by lovebrentwood View Post
Yet crime is higher in the Oakwood area where houses are more desirable.

Interesting, isn't it?
I think crime is a bit higher in most neighborhoods near the downtown area of any city, so I believe that explains the crime near Oakwood.

Oakwood has some very distinctive homes, which adds to the desirability factor.

People can move to lower crime areas of the Triangle and live in houses like the ones in Brentwood. I think that's why they often do.

If I was moving here and didn't know much about the area? I wouldn't want a house in Brentwood because I could get similar houses in other neighborhoods with lower crime. That's what I'm saying.

Doesn't mean I think people shouldn't buy there if it suits their needs.
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Old 04-17-2012, 07:56 AM
 
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Quote:
Originally Posted by meh_whatever View Post
Oakwood has some very distinctive homes, which adds to the desirability factor.

People can move to lower crime areas of the Triangle and live in houses like the ones in Brentwood. I think that's why they often do.

If I was moving here and didn't know much about the area? I wouldn't want a house in Brentwood because I could get similar houses in other neighborhoods with lower crime. That's what I'm saying.
I think you hit the nail on the head here. There's very few neighborhoods left where you can find Victorians. There's plenty of neighborhoods where you can find brick ranches. Some people are willing to put up with higher crime to have a one of a kind home within walking distance of museums, Fayetteville Street, etc. Brentwood has to compete with many, many other neighborhoods that have the same sort of homes and amenities. I also think for many years now anything off of Capital Blvd has been seen as undesirable. I sometimes wonder if Capital Blvd cleaned itself up if that would increase the desirability of neighborhoods beside it.
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Old 04-17-2012, 08:14 AM
 
Location: My House
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Quote:
Originally Posted by evaofnc View Post
I think you hit the nail on the head here. There's very few neighborhoods left where you can find Victorians. There's plenty of neighborhoods where you can find brick ranches. Some people are willing to put up with higher crime to have a one of a kind home within walking distance of museums, Fayetteville Street, etc. Brentwood has to compete with many, many other neighborhoods that have the same sort of homes and amenities. I also think for many years now anything off of Capital Blvd has been seen as undesirable. I sometimes wonder if Capital Blvd cleaned itself up if that would increase the desirability of neighborhoods beside it.
I wonder the same about Capital. It seems like it was nicer before it was overdeveloped in the late 80s/early 90s.
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Old 04-17-2012, 09:02 AM
 
Location: Raleigh, NC
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I also think the Brentwood area has gone down due to the rentals. Too many rentals in one area, where the neighbors don't keep up their yards, does bring values down. So, where many like not having an HOA, the value is sometimes compromised due to folks doing whatever they please. I passed by a home the other day in Brentwood, that had cars parked in their front yard. I'd rathr NOT see that in any neighborhood.

The schools seem to have issues also. It will be interesting to see if the changes in Wake County Public Schools will help this area or make it worse?

And as NRG said, the property values don't seem to get better in Brentwood. For those that live there and own rental property, that might make houses harder to rent.

Last edited by Green Irish Eyes; 04-18-2012 at 05:22 AM..
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Old 04-17-2012, 09:02 AM
 
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Do many of the homes have aluminum wiring?

That would be a serious negative and dangerous if not fixed.

The 60's - 70's were the time this serious construction error commonly occurred.
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Old 04-18-2012, 12:24 AM
 
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Originally Posted by VickiR View Post
For those that live there and own rental property, that might make houses harder to rent.

Vicki
People who own rental homes in Brentwood have never had a problem renting them. We posted a sign in front of our rental. It was rented within hours to incredible tenants. We turned people away. Our tenants have signed two 2-year leases.

Last edited by Green Irish Eyes; 04-18-2012 at 05:23 AM.. Reason: Deleted off-topic comments
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Old 04-18-2012, 06:49 AM
 
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no HOA? Rental properties? Cars parked on lawns? Sounds like HELL to me!? Next thing you're gonna tell me is that there are POOR people in the neighborhood and we all know what THEY do to home prices!?!?! I know I know, way too far, but be careful guys. Not everyone's looking for what some call "Stepford." If we were, we'd head to Cary or NW Raleigh. Different strokes for different folks.

Of course there are reasons that some neighborhoods are more affordable, but that doesn't mean they're good reasons for everyone. I live in the King Charles neighborhood. I can go on and on about why I live here. I love it here. Parts of it (it's a big neighborhood) aren't terribly different than Brentwood. Yes, there is affordable housing nearby. Not everybody is a good fit for my neighborhood or for Brentwood. I don't know about you guys, but a $250k mortgage scares me half to death these days. The housing market hasn't exactly been stable the last few years. You'll never see me in Meredith Woods. Not a good fit for me.

If you ever find yourself walking in a neighborhood where cars are parked on the front lawn, try saying hello. They're usually pretty nice people. The house just has a single-width parking space and you have to admit, those ARE pretty annoying.

Some neighborhoods definitely have more crime. All of us have had different experiences. What I'm comfortable with is different than what others are comfortable with. So don't take anyone's word for it, look at the data and decide for yourself. Raleigh has plenty of publicly available crime data.

Regarding having trouble renting your home out - unless you're in the worst of the worst of neighborhoods a house will rent relatively quickly if it's priced well. Can't rent your house? Lower the price. It's probably too high. There is a lot of demand for rentals at the moment.

Also, not a fan of Victorian's. Pretty on the outside, but I far prefer mid-century houses. You just can beat the layout on most mid-centuries. Again, my opinion!
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