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Old 11-09-2015, 03:51 PM
 
158 posts, read 108,338 times
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To follow on Funky Chicken,

Cameron Pond was the custom build neighborhood impacted by the 540 on the West part of Cary. When the road was under construction sales took a down turn over there. However, since the road is finished and people can check the noise as well as how busy is the 540. It seems that the neighborhood is in full expansion. People are buying homes that back up the 540 and those homes are not small town homes, big custom mansions located on the 540. Cameron has also another issue with gigantic power pole above the common pool. Guess what, West Cary is so much hype that people does not care in the current environment.

I do not have a crystal ball and cannot say what will be the impact of the 540 on Woodcreek. by the way, if someone argues that she/he has a crystal ball run from her/him . If the impact is the same as the one observed at Cameron Pond, you should be ok with it. If I had to buy a home that backs up 540 I will check the price difference on homes in Cameron Pond based on their distance from the 540 to see if there is a discount that applies or not. Check also the time on market to see if there is any impact based on such a location.

At the end, it is a matter of price and preferences.
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Old 11-09-2015, 04:51 PM
 
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In terms of the school assignments, there is a draft out there of the proposed changes next year because of OakView Elementary opening up. You can put in your address/lot (or a nearby one) to see if you can get an idea of the school assignment.

Hopefully this link works: 2016-17 Enrollment Proposal / Overview

If not, just search for "wake county 2016-2017 enrollment proposal"
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Old 11-10-2015, 07:45 AM
 
1,841 posts, read 4,093,076 times
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Quote:
Originally Posted by xxrb1 View Post
To follow on Funky Chicken,

Cameron Pond was the custom build neighborhood impacted by the 540 on the West part of Cary. When the road was under construction sales took a down turn over there. However, since the road is finished and people can check the noise as well as how busy is the 540. It seems that the neighborhood is in full expansion. People are buying homes that back up the 540 and those homes are not small town homes, big custom mansions located on the 540. Cameron has also another issue with gigantic power pole above the common pool. Guess what, West Cary is so much hype that people does not care in the current environment.

I do not have a crystal ball and cannot say what will be the impact of the 540 on Woodcreek. by the way, if someone argues that she/he has a crystal ball run from her/him . If the impact is the same as the one observed at Cameron Pond, you should be ok with it. If I had to buy a home that backs up 540 I will check the price difference on homes in Cameron Pond based on their distance from the 540 to see if there is a discount that applies or not. Check also the time on market to see if there is any impact based on such a location.

At the end, it is a matter of price and preferences.
All of this is true. I guess I see the difference as this-

The people choosing to buy in Cameron Pond in 2015 have the full picture. They can look at a home and the pros and cons are plain to see. The people who bought in Cameron Pond prior to the construction of 540 expected one thing and got another. They got screwed, plain and simple-not because of the fact that 540 came thru as expected, but because all sorts of other things happened as a consequence that could not be foreseen.

The people in Woodcreek do not really know how this will play out. You can make the argument that you have done your due diligence, but so did the people who bought in Cameron Pond. You can pretend that it's going to be a fabulous thing to have 540 so close to you, but you don't know for sure. the effects are mostly unknown at this point in time, and therein lies a risk. I can guarantee you that the people who walked away from or lost their homes in Cameron Pond wish that they had bought somewhere else.
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Old 11-10-2015, 08:34 AM
 
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Good point from Funky Chicken,

People that bought at Cameron Pond in 2015 might have not the same preferences as those that had bought before the 540. Make sure you know your preferences to avoid becoming one of those screwed Cameron Pond owners. Current owners in Woodcreek will discover the consequences due to the 540 when it will be finished as Funky Chicken said. For some it will be ok for others it will not. However, do not think that 12 oak is immune to surprises for the next 10 years. First, commuting patterns will change a lot, I guess, when the 540 will arrive. It might be a change for better or worst, I cannot say. But the area will be impacted. Second, if you buy in Holly Springs or Apex or any other non fully developed areas, be ready for surprises . RDU is a growing area and as long as companies find competitive advantages to put offices there, developers will develop the area. Free spaces or forests close to your community might become commercial or anything, zoning can be changed by the town council or such. Even Progress Energy can get rid off of some power lines and sell back the land to developers .
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Old 11-10-2015, 08:42 AM
 
Location: NC
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Originally Posted by Funky Chicken View Post
... the people who walked away from or lost their homes in Cameron Pond wish that they had bought somewhere else.
What per cent of the people in this neighborhood walked away from their homes? Lost their homes? Is this conjecture, or fact? Details please.
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Old 11-10-2015, 09:22 AM
 
1,841 posts, read 4,093,076 times
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Originally Posted by luv4horses View Post
What per cent of the people in this neighborhood walked away from their homes? Lost their homes? Is this conjecture, or fact? Details please.
A good portion of the homes/lots on the following streets

Dresden Meadow Ct
Magalloway Dr
Middlefield Hill Ct
Beacon Falls Ct

Have either
Resold far below the original sale price and substantially below tax value (One home was purchased for $360,000 and has a tax value of $626,000)
Sat as dormant lots for years and only recently had homes built on them that are not the same quality
Been listed at prices well below the original transaction price only to not sell, leaving the owner with limited options-in many cases the owners were underwater for many years
Gone into foreclosure (admittedly there could be many reasons for this, but there is a pattern here that can be tracked at wakegov.com)

If you had seen what the backyards and common areas surrounding those homes looked like before and after 540 construction (and I did) you would realize that those homes were forever impacted negatively. Those who did not see the "before" picture may not find anything wrong (or were/are happy to buy those homes at current market prices) but there is nobody living in Woodcreek that really has any idea what is going to happen. I will concede that the odds are better for you if you stay away from the corridor, but I will also suggest that it is very difficult to visualize the impact of a highway the width of 540 coming into what is currently a wooded and undisturbed area.

West Cary is indeed a hot area and many people who have migrated there since 540 was completed in that area don't have any issues-they saw what they were getting. I lived in that area over 12 years ago, when Green Level Church Road was a one lane gravel road in front of what is now the Harris Teeter parking lot. We all knew that 540 was coming and we were excited about it. It has brought a lot of good to the area but it is not without its negative impacts, most specifically to single family homes that back up to it and were built prior to 540 construction. In my opinion this is likely to happen in the Sunset Lake Road area to Woodcreek and any other neighborhood that abuts the corridor. Woodcreek doesn't abut the corridor-the corridor bisects Woodcreek. There is NO other neighborhood to date whose property is on BOTH sides of the 540 corridor-this is a brand new thing.
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Old 11-10-2015, 09:51 AM
 
158 posts, read 108,338 times
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Agree with Chicken on the fact that the 540 will split the neighborhood in two parts. I guess the north part, above the 540, will become less attractive than the south part where all the amenities are located. Especially, people on the north part will not be able to drive to the amenities without exiting the neighborhood and coming back in via another entry.

However, MI homes, which is currently selling on the north part seems to do really well.

For the OP, check the price differences in Cameron Pond based on distance from the 540, so, you know at which price you have to walk away from Woodcreek if you do not want to become a screwed owner in, I will be optimistic, 7 years
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