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Driving through MacGregor Downs recently, I saw kids everywhere. I wonder whether that neighborhood, and others like it in South Cary, are just cycling in age -- the original pioneers (in the loosest sense of the word) will opt to sell, since the houses and lots are so large, and young families will arrive and update the houses, in effect rebooting the neighborhoods.
gpr66's post above seems right on, too. The sales prices reflect the need for renovations (often inside and out), but those houses, once improved, are perfectly situated for long-term ownership.
Disclaimer: I live in South Cary, so I'm likely biased. As a young parent, I find the Kildaire Farm area to be almost utopian.
I think that's true, but only to a certain extent.
People paying top dollar want homes that are move-in ready (or close to it), where they will need to do little to nothing but unpack.
If a home is priced competitively and/or has been nicely updated/kept up, it'll usually fly off the market.
Stuff that languishes tends to be relatively overpriced.
It's amazing how fast a home in Weatherstone, for example, will go if it's been updated and/or kept current.
Ditto Preston. Or MacGregor. And that's an older neighborhood that isn't in West Cary or even in the DDES/DDMS/GHHS feeder pattern. Updated homes sell quickly there. Homes priced low that are not updated sell quickly there (mostly as teardowns). Great lots.
It's foolhardy to buy into a neighborhood and assume you don't have to make improvements, or hell, even keep up maintenance, and your home will sell quickly just because it was pretty when you bought it 15 years ago.
It is not, however, foolish to keep your home maintained, replace items as they wear out, and make a little when you sell it if it is in a good location. You just cannot expect it to sell for as much as a nearby new home or your neighbor's house where they did the full kitchen and bath remodels at year 10 while updating their plumbing, adding irrigation, landscape lighting, and a great hardscaped back patio.
A 15yo house that looks 15 years old will simply not be as likely to be so appealing, all other things being equal.
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)
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 drove by Michelangelo Way last week, and it looks like a resort area. I'm just not sure why houses in Lechmere and Regency do not seem to hold their resale value as well as ones in Preston area.
Also, new houses in Kildaire Crossing do not sell as fast as ones in Breamore, and they are from the same builder, with similar models, and even lower price. I guess it's because of the distance to RTP, and so so-schools (Dillard, Athens...) in that area make South Cary (South of Highway 1) less desirable? I personally like this area better than W. Cary, but kind of nervous about the resale value when it's time to sell. Eventually, when NC-540 goes thru this part of town, would it also be a toll road all the way to RTP?
I guess I am an exception. We moved from far NW Cary to far SE Cary. The two homes are 19 miles apart. Best decision we ever made.
There is a herd mentality about 27519. I think people come in with an extremely narrow focus and don't even consider other options-if it is the hot zip code, everyone else must have done the research.
There are also plenty of people who are already here who buy new construction and move as soon as they aren't living in a shiny penny anymore. I know a family who is building their 5th new home since 2000. Each time they move it is to get to the new hot neighborhood. I don't really understand what they are chasing.
I couldn't afford my home in 27519. It would easily cost $200K more and it would still be on a lot 1/3 smaller than mine.
I like trees, too. I have a bunch behind my house. They are old and tall. I can see them from my house. They are all I see.
My kid walks to school. It's a pretty great school IMO. It's not as hot as all of the super-genius schools in 27519, but that is fine with me. Unlike every other poster here, my kid is just a kid. No MENSA, no International Spelling Bee champion-just a kid.
I have easy access to everything we need. Is it as convenient as 27519 to the airport or Southpoint? Well, no. That said, I drove to Southpoint yesterday in 35 easy minutes. Publix is coming. Waverly Place is 10-15 minutes. Crossroads is 15 minutes. Downtown Raleigh is 20. I am 1/2 hour closer to the beach and I-95. Amazon finds my house just as easily. I have no airplane noise.
540 will be coming thru about a mile North of my house. (Ignore all of this route alternative nonsense-there is no alternate route.) That will cut 20 minutes out of the RTP commute. I won't be close enough to see or hear it, but I will be close enough to benefit from it.
Admittedly, I do not have an RTP commute to deal with. Still, I feel like I am really well insulated from all of the pockets of ridiculous traffic in other areas. I almost never have to worry about getting stuck, and I have plenty of alternatives to choose.
Some of the older neighborhoods West of 55 are already starting to look shopworn. There is something about the small lots that make homeowners think they don't have to do any exterior maintenance-it's like they bought a detached condo. A good looking yard is the exception.
I think there are real opportunities in South Cary. Your money goes a lot further. You can buy a home with good bones on a good sized lot and update it now, and you will be ahead of the curve. Your kids will survive without going to Green Hope or Panther Creek-they might actually stand out more. Retail is migrating towards us and 540 will provide another boost.
I am always looking at New Construction. I follow the trends. For years I drove my wife crazy, dragging her around to Parade Homes and talking about moving. It really is an infectious thing around here.Over the last year or so I have come to realize that I can't improve on my current situation. Every year that passes, I find fewer reasons to consider a move. All of the big South Cary neighborhoods are going to turn over in the next 5-10 years and the area will strengthen.
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'd hypothesize that this comes from a "HGTV Effect".....home improvement/ homebuying television shows has become HUGE in the past 10 years and millions of viewers see houses with laminate countertops, brass fixtures, non-stainless-steel appliances being described as " unacceptable and out-dated".....they probably also feel the sudden urge to have "an open floorplan" or "a great space to entertain"....and think "gee honey, this closet will fit all of my shoes, but where will your stuff go? teehee!"
I'd hypothesize that this comes from a "HGTV Effect".....home improvement/ homebuying television shows has become HUGE in the past 10 years and millions of viewers see houses with laminate countertops, brass fixtures, non-stainless-steel appliances being described as " unacceptable and out-dated".....they probably also feel the sudden urge to have "an open floorplan" or "a great space to entertain"....and think "gee honey, this closet will fit all of my shoes, but where will your stuff go? teehee!"
Haha you're 100% correct. I'll admit I'm a semi-HGTV-addict, but still have the sense to laugh at it.
My favorite is "oh wow this is such a great space!" Who actually says that?
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.
There is a herd mentality about 27519. I think people come in with an extremely narrow focus and don't even consider other options-if it is the hot zip code, everyone else must have done the research. n.
I think this is part of it - people who are moving here from somewhere else want new for various reasons - whether it's because they can finally get away from their pink and black bathroom, or because they want to show off to their old friends "back home", it is part of the reason that that area is a huge draw. And, many people who are moving from out of state are paranoid about the schools and want "the best" - but ironically they are putting themselves squarely in the revolving door of school reassignments that really doesn't exist in south Cary (and Athens Drive was made a magnet HS as well). They are, also ironically, putting themselves back into the "keep up with the joneses", too many people for the roads situation they are coming from but most of them are probably way closer to their employers than they were in their home state so maybe that's a wash.
The info trickles back up north..."this is where everyone's moving..." so that's where everyone goes.
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