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Old 12-28-2015, 10:08 AM
 
Location: My House
34,937 posts, read 36,163,891 times
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Quote:
Originally Posted by Sherifftruman View Post
Interestingly, in the older parts of Preston, people are starting to tear down older, large houses and build even larger, more current design houses, at least for specific areas of the course.

Definitely seeing more houses being renovated each time I drive through. (In laws live there)
Yup. There are some teardowns and/or heavy renos out there, too. Not all houses were built well the first time around and adding some features (especially those that save a significant amount of energy) can be tougher with an existing home. If the home is in a great location but not what the people want at all, tearing it down makes sense.
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Old 12-28-2015, 10:15 AM
 
Location: My House
34,937 posts, read 36,163,891 times
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Quote:
Originally Posted by Sal_M View Post
I think the reasons mentioned are the bulk of it. People do want new and shiny and even in 27519 if it has all the original stuff from the 90's it will lag active on the market for quite a while. Some people don't want large lots and favor short commutes as well as little lawn maintenance. I love the Lochmere area and MacGregor Downs but that area of Cary was out for us because the commute would have been easily 45 minutes to 1 hour.


Sometimes you have to make compromises when buying a home, a long commute was not something we would settle for.
The commute thing is a huge issue for many buyers. Schools are huge. So is "why buy the old house that needs updating and who knows what else when I can just buy a new one for close to the same price that's under a builder's warranty?"

I think lot size matters in varying degrees. I would not want a house where my neighbors could reach out their window and touch mine, but I don't require a large lot, either. We don't have dogs OR little kids who wanna play football out back. Though, in our current house (with a smaller lot than our previous house) they most definitely could play flag football out back. It's all about the lot shape and orientation.
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Old 12-28-2015, 10:20 AM
 
Location: My House
34,937 posts, read 36,163,891 times
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Quote:
Originally Posted by m378 View Post
Maybe it's because I come from an area of the country with old housing stock, but it's amazing to me that people absolutely require the absolute latest finishes when buying a house. I do admit it would be nice to buy a house and never have to do anything to it, but we all know that's never the case and these finishes will be out of style in 10 years.

We were at a huge advantage when house hunting since we didn't mind having laminate counters, vinyl flooring, white/black appliances, etc. We'd look at houses and wonder why they had been on the market so long (and by so long, I mean a few weeks or so). The answer was always that the kitchen or bathrooms were "outdated". To us they weren't outdated, and were perfectly functional. Sure, someday when we have some extra money (ok maybe never) we may decide to update the house, but for now, our kids and pets are going to destroy it anyway. Fresh paint and carpet is satisfactory for us.

In our last house we had a pink subway tile bathroom. For those that haven't lived in an older house - pink, blue, puke green, etc were all the rage in the 50's and 60's. We never could afford to remodel the bathroom, and I always joked with my wife that the pink bathrooms would be back in style before we knew it. It will happen, and when it does I'll laugh and laugh and laugh. Subway tile in general is currently the big thing in bathrooms, so it's not far off.
I don't have an issue with older tile, fixtures, countertops, etc. I'm a native of this area.

I do have a problem with people thinking their house with all that stuff from 1985 is worth as much as their neighbor's house that was totally renovated, has newer HVAC units, tankless H2O, etc.

No. It's not. It had better have some stellar secondary qualities or a price that reflects the lack of updates.
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Old 12-28-2015, 11:08 AM
 
Location: Raleigh, NC
12,475 posts, read 32,191,857 times
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Quote:
Originally Posted by RedZin View Post
I don't have an issue with older tile, fixtures, countertops, etc. I'm a native of this area.

I do have a problem with people thinking their house with all that stuff from 1985 is worth as much as their neighbor's house that was totally renovated, has newer HVAC units, tankless H2O, etc.

No. It's not. It had better have some stellar secondary qualities or a price that reflects the lack of updates.
That is why Zillow isn't correct. They don't take into account the homes that have been updated versus the ones that have not been updated.

A 22 year old home with a new roof is definitely worth more than a 22 year old roof with the original roof.

That is why it is very important to look at the REAL comps, not just the last homes that have sold.
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Old 12-28-2015, 12:15 PM
 
9,265 posts, read 8,231,667 times
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Quote:
Originally Posted by VickiR View Post
That is why Zillow isn't correct. They don't take into account the homes that have been updated versus the ones that have not been updated.

A 22 year old home with a new roof is definitely worth more than a 22 year old roof with the original roof.

That is why it is very important to look at the REAL comps, not just the last homes that have sold.
I don't think there are many people that claim Zillow is correct. Except maybe some lazy agents

Zillow is a great starting point for people like me that don't have easy access to the information that real estate agents have access to. You just need to take it for what it's worth, and do your due diligence beyond it.
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Old 12-28-2015, 12:24 PM
 
Location: Morrisville, NC
9,141 posts, read 14,715,987 times
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Quote:
Originally Posted by m378 View Post
I don't think there are many people that claim Zillow is correct. Except maybe some lazy agents

Zillow is a great starting point for people like me that don't have easy access to the information that real estate agents have access to. You just need to take it for what it's worth, and do your due diligence beyond it.
I'm sure the agents can tell you better, but plenty of random people think what Zillow pumps out is actually a legit value and base actual decisions on it.

I saw the tankless hot water mentioned, is that a decent selling point nowadays? We have a heater in the attic that's getting close to 10 years old and are strongly considering tankless to replace before it leaks (several neighbors have had issues) and I was wondering how they were received by the buying public.
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Old 12-28-2015, 12:29 PM
 
9,265 posts, read 8,231,667 times
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Quote:
Originally Posted by Sherifftruman View Post
I'm sure the agents can tell you better, but plenty of random people think what Zillow pumps out is actually a legit value and base actual decisions on it.

I saw the tankless hot water mentioned, is that a decent selling point nowadays? We have a heater in the attic that's getting close to 10 years old and are strongly considering tankless to replace before it leaks (several neighbors have had issues) and I was wondering how they were received by the buying public.
It is a legit value if you take into account only face value recent sales, tax valuation, square footage (which may be incorrect), lot size (which may be incorrect), etc. Still much better than those who look up the tax assessment and use that as a base point (there are even some "professionals" that do this).
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Old 12-28-2015, 12:52 PM
 
1,886 posts, read 4,807,705 times
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Quote:
Originally Posted by Sherifftruman View Post
I'm sure the agents can tell you better, but plenty of random people think what Zillow pumps out is actually a legit value and base actual decisions on it.

I saw the tankless hot water mentioned, is that a decent selling point nowadays? We have a heater in the attic that's getting close to 10 years old and are strongly considering tankless to replace before it leaks (several neighbors have had issues) and I was wondering how they were received by the buying public.
Getting your water heater out of the attic should be a top priority for you regardless of your intent to sell. I had a $30,000 insurance claim in 2005 thanks to a leaky HWH in the attic.
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Old 12-28-2015, 01:11 PM
 
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This is an interesting discussion and hits on a lot of the same observations that I have made during my 8 years in Cary and I moved here from the Northeast. I too live in I guess what we are calling South Cary and as a couple folks have said, other than the commute, I don't understand the appeal of the West Cary area. Don't get me wrong, there are some nice neighborhoods and the town is definitely investing in that part of town but central and south Cary just have a lot more character than what you see in West Cary.


I agree with a lot of the points already made but here are a couple of other factors/observations....


1. People are extremely spoiled here and the thought of having to drive and extra 5 minutes to Target or to their children's school or to the supermarket is "dreadful" to a lot of people. South Cary requires that extra 5-10 minutes for a lot of those things and it is a big turn off to a lot of people. As mentioned, that is changing and changing fast - Publix, the new Holly Springs shopping Center, the next 540 expansion, etc but there is definitely the mindset that certain parts of South Cary are "in the middle of nowhere". I live 10-15 minutes from Apex Center - and have neighbors that have never been. I'm certain there are people in some 27519 neighborhoods that have never been to Briar Creek or North Raleigh. I just find that no matter where people live here, they are tormented for some reason if they have to drive ANYWHERE.


2. People refuse to pay tolls on 540...even those used to it that have come from up north. I work in RTP and take the new 540 almost every day to work and I am 25 minutes - 20 sometimes going home taking the new 540. When people complain about a "commute", how can you beat 20-25 minutes? Now, some of this is perception too. Some will pay but still have this notion that the new 540 extension still makes RTP too far away. You can get on 540 in Holly Springs and be in the 27519 zip code in less than 10 minutes.


3. Someone mentioned this but it is worth repeating....the schools in South Cary are just as good as the schools in 27519 but they are not "brag worthy" to a lot of parents that fail to recognize there is very little difference. I'm not saying that Green Hope HS and Green Hope Elementary and the other schools in that area are not good schools - they are excellent schools. However, look at the graduating classes in schools like Holly Springs High School or Middle Creek High School and how accomplished those students become - it stacks right up there with Green Hope and Panther Creek. We are all fortunate to live in an area with so many excellent schools.


4. The "coolness factor" is definitely at play in Cary. This was also mentioned in different ways by others but in general, people consider how "cool and accepted" a neighborhood is as a major decision making factor when buying or building a house. South Cary simply is not cool enough. Middle Creek Elementary is not as "cool" as Highcroft Elementary. West Cary houses are bigger than South Cary houses. My neighbors are cooler than your neighbors. My Harris Teater is better than your Harris Teater...oh and it is 3 minutes closer to my house. This isn't everyone of course but this is a HUGE factor in how this generation of home buyers chooses where they live.
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Old 12-28-2015, 01:38 PM
 
9,265 posts, read 8,231,667 times
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Quote:
Originally Posted by DPPWUS View Post
This is an interesting discussion and hits on a lot of the same observations that I have made during my 8 years in Cary and I moved here from the Northeast. I too live in I guess what we are calling South Cary and as a couple folks have said, other than the commute, I don't understand the appeal of the West Cary area. Don't get me wrong, there are some nice neighborhoods and the town is definitely investing in that part of town but central and south Cary just have a lot more character than what you see in West Cary.


I agree with a lot of the points already made but here are a couple of other factors/observations....


1. People are extremely spoiled here and the thought of having to drive and extra 5 minutes to Target or to their children's school or to the supermarket is "dreadful" to a lot of people. South Cary requires that extra 5-10 minutes for a lot of those things and it is a big turn off to a lot of people. As mentioned, that is changing and changing fast - Publix, the new Holly Springs shopping Center, the next 540 expansion, etc but there is definitely the mindset that certain parts of South Cary are "in the middle of nowhere". I live 10-15 minutes from Apex Center - and have neighbors that have never been. I'm certain there are people in some 27519 neighborhoods that have never been to Briar Creek or North Raleigh. I just find that no matter where people live here, they are tormented for some reason if they have to drive ANYWHERE.


2. People refuse to pay tolls on 540...even those used to it that have come from up north. I work in RTP and take the new 540 almost every day to work and I am 25 minutes - 20 sometimes going home taking the new 540. When people complain about a "commute", how can you beat 20-25 minutes? Now, some of this is perception too. Some will pay but still have this notion that the new 540 extension still makes RTP too far away. You can get on 540 in Holly Springs and be in the 27519 zip code in less than 10 minutes.


3. Someone mentioned this but it is worth repeating....the schools in South Cary are just as good as the schools in 27519 but they are not "brag worthy" to a lot of parents that fail to recognize there is very little difference. I'm not saying that Green Hope HS and Green Hope Elementary and the other schools in that area are not good schools - they are excellent schools. However, look at the graduating classes in schools like Holly Springs High School or Middle Creek High School and how accomplished those students become - it stacks right up there with Green Hope and Panther Creek. We are all fortunate to live in an area with so many excellent schools.


4. The "coolness factor" is definitely at play in Cary. This was also mentioned in different ways by others but in general, people consider how "cool and accepted" a neighborhood is as a major decision making factor when buying or building a house. South Cary simply is not cool enough. Middle Creek Elementary is not as "cool" as Highcroft Elementary. West Cary houses are bigger than South Cary houses. My neighbors are cooler than your neighbors. My Harris Teater is better than your Harris Teater...oh and it is 3 minutes closer to my house. This isn't everyone of course but this is a HUGE factor in how this generation of home buyers chooses where they live.

Agree 99.9%. As far as the "coolness factor", I think there's just many transplants coming in, many of who are in a rush due to a corporate relocation. They're forced to take the advice of people on forums like these (not even real estate agents can comment on quality of schools). If a certain part of town is in your budget and everyone is suggesting that part of town due to the quality of schools, then you're going to do what you think is best for your kids.

Moral of this story, rent before you buy
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