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Old 09-12-2014, 12:10 PM
 
6 posts, read 7,891 times
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I'm thinking about moving to the Raleigh/Durham area, and it looks like real estate prices there are great -- wouldn't make much sense to rent a place. I see small places (1-2BR is ideal, I don't want anything bigger than 3BR) that go for around $100k and under that look nice (from pictures, of course) in not-run-down neighborhoods, close to downtown, with normal crime stats. All I can gather is that these homes are inexpensive because they are deep in a "black neighborhood" -- at least that's how I feel when I read somebody talking about how some area isn't "safe" when its crime rate is low but there is a black majority.

Which leads to my first question: What do I need to look out for in eastern Durham or E/SE Raleigh, besides pockets of crime? Are there parts that are known for flooding, old industrial pollution, or things like that? I live a block from the rails right now (CA) and I'd only be worried about railyard pollution as far as trains go. Highway noise is a greater concern for me.

My second question is more about the pace of the home-buying process in Raleigh and Durham: How long does an easy negotiation usually take, and from there how long can it take (best and worst-case) before you could move into the property?

Finally, especially for realtors in the know ... of these "unsafe" parts of Raleigh and Durham, which ones are the nicest, the sort of places where neighbors know each other well and are involved in the community? I'm not trying to flip a property and I want to be very involved in the community: Bedroom communities depress the hell out of me. That would be nice to know so that I could begin researching productively if I came into town for job interviews.

Thanks, especially if you read all of that!

Last edited by mightbemovingtonc; 09-12-2014 at 12:58 PM..
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Old 09-12-2014, 12:16 PM
 
Location: Raleigh, NC
5,825 posts, read 6,888,620 times
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Quote:
Originally Posted by mightbemovingtonc View Post
it looks like real estate prices there are great -- wouldn't make much sense to rent a place.
That depends on how long you plan to stay in the house/area, as it usually easier (in terms of liquidity) to move from a rental than sell a house.
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Old 09-12-2014, 12:30 PM
 
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Quote:
Originally Posted by don6170 View Post
That depends on how long you plan to stay in the house/area, as it usually easier (in terms of liquidity) to move from a rental than sell a house.
Not a concern, I'm lucky to be in an occupation that is in demand and pays well. Even if work took me to a place like SF or NY, I could afford to keep the property, and certainly to continue payments while looking for a buyer. As far as liquidity goes, if work took me to another metro area, it would likely be a place where I wouldn't even be considering buying.
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Old 09-12-2014, 01:10 PM
 
Location: Durham, NC
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You are coming into this idea, it seems, with reasonable expectations and an understanding that there may be long-term value looking at less-desirable areas that are better bargains and also undergoing change (or likely will.)

In East Durham, the areas I would encourage you to look at would be:
- Cleveland-Holloway -- arguably post-gentrification, but might find some possibilities
- The area to the south and east of C-H, along Holloway St. and near SEEDS/Elizabeth St., leading to...
- Golden Belt, near C-H
- Old East Durham
- The Driver St. corridor north of Angier, where there's a city streetscape project and some early homesteaders

Given your planned holding period, you might also scout around the Alston Ave. corridor near NC 147. Not as gentrified or safe as the areas above, but it will be the terminus of the proposed Durham/Chapel Hill light rail line, scheduled for construction in the 2020s. Golden Belt and OED are arguably walk/bike distance from there.

There is a railyard south of Angier/Driver paralleling NC 147. In that area is Brenntag, a chemical mfg./distributor, plus other industrial areas; there are definitely brownfields through there. I don't know a good source for you on how to screen those out, but a realtor with experience in East Durham would. Ask around Cleveland-Holloway or Old East Durham in particular (or join their listservs) to find some candidates. Most realtors will not be hip to what you are looking to do, but I can think of a couple who would; PM me if you want to know their names.

If your budget can go higher, I would strongly urge a look at the new construction going in at Southside -- new homes at very attractive price points.

Good luck!
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Old 09-12-2014, 01:24 PM
 
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Thanks for the advice Bull City Rising, especially about the areas where I should beware of industrial pollution! Once I know whether I'm looking in Raleigh or in Durham, I'll be sure to send you a message. I like some parts of the Alston Ave area you mentioned, especially knowing that mass transit will be there eventually. The Raleigh-Durham rail is a project I've had my eye on.
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Old 09-12-2014, 03:13 PM
 
Location: South Beach and DT Raleigh
13,966 posts, read 24,082,322 times
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The Triangle is a rapidly growing area and the cores of both Raleigh and Durham are seeing a lot of energy these days. IMO, your best bet is to learn the areas around the Downtowns well via forums such as this, local realtors, etc. and make your play on the best bet for the next "it" area. I can't speak for Durham but I can tell you that many of today's "it" areas around downtown Raleigh were considered undesirable not so long ago. It's just a matter of understanding where the investment is heading next. (IMO) In Raleigh, that's going to be immediately east of downtown, south of New Bern Ave. and west of Raleigh Blvd. There is already a substantial amount of interest in this area and prices are going up. However, the prices are certainly a lot less than on the west side of downtown where investment and interest in the area is much more mature. If I were investing near DT today, that's where I'd put it.
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Old 09-12-2014, 03:33 PM
 
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I am usually the first to say that most fear is based on demographics and unfounded, and that areas are improving and will continue to improve.

But that said... if you are not familiar with Durham, NC, or the South[east] in general - deciding to buy property around Alston Ave & 147 could be a huge mistake.

It sounds like you're thoroughly researching this but you need fair warning. There are some obstacles preventing gentrification there. You have 3 housing projects within close distance: Liberty St projects, McDougald Terrace projects, and the former Few Gardens projects/Franklin Village. And there are a couple other low income apartment complexes also within close vicinity. As well as two shelters.

This is an area that has been struggling for some time and there is a lot of govt. assistance going on. That is a steep hill to climb if you're looking for a safe community to actively participate in. Big Daddy Kane gave a shout out to that area in his '94 song "In The PJs" ....

I spent few years driving from 147 to Avondale, late at night commuting from work in Raleigh, and it's not like you're going to get pulled from your car, beaten and robbed just for being there. I never had any real issues. But you're going to need a strong stomach for nonsense if you're trying to plant yourself directly in that community.
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Old 09-12-2014, 03:39 PM
 
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Thanks for the advice, behan.

No way I'd buy property without taking a good look at the neighborhood day and night, weekday and weekend!
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