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A house just sold in our neighborhood. The new owners have purchased 3 houses in the area over the last two months. I think we will see more and more of this with the Amazon/Apple possibilities. My HOA is moving to limit the number of rentals in our 'hood.
for those asking ... I'm not a property rights attorney, but can't an HOA vote for changes to the By-Laws? If they can limit what personal property you can have on the real property, limit your expansion at your desire on the real property, why couldn't they limit the homes that are not owner-occupied?
Now, would someone who ("had to") move away and rented the house out to avoid financial hardship have a case? Maybe so.
Alexander Place (townhomes) were built by Westfield Homes around 2005 and it is in their covenants that you cannot use the townhomes as rentals.
I also remember Westfield saying that if there was a "hardship" involved, the HOA would re-consider.
At the time, the onsite agent told my client that she thought some homeowners would end up renting their townhomes out instead of selling but "if no one knew...".
It seems that a few years ago, the homeowners tried to get the HOA rule of no renter reversed but I don't think they got it passed.
i would think that is going to be tough to enforce and expensive to create/implement. Plus, they could all claim "I have been reassigned but I plan to come back... I really, really do!"
I don't think it's any harder to enforce than any other by-law. For starters, if it's in the covenants and you're an investor buying to rent it out, you're certainly going to think twice about it. I would think you'd go look at the neighborhood next door which has no such restriction. Why take the chance on your investment not working out? Speaking only for my neighborhood, I would not anticipate a high number of long time owners (which is most of this neighborhood) suddenly deciding to rent out their homes while they claim to be away on assignment somewhere. First of all, if you're NOT actually moving out of town for said assignment, you actually have to find another place to live, which seems counter productive.
Certainly if someone just bought the house and then suddenly rented it out and claimed that it would be a different story and probably subject to the restriction. I would think someone smart enough to have enough money to buy investment properties would realize that's probably not the greatest idea - if the neighborhood went to the trouble to have the restriction, they're probably committed to enforcing it. We have some pretty smart people living here, and like I said they are consulting an attorney knowledgeable in this area, so we will see what happens.
Like it or not, the rentals in a neighborhood are pretty obvious for various reasons, which is why 88% of the neighborhood (just about every household voted) agreed with the proposal.
Does Knightdale count as the triangle? Maybe not because it's not within city limits but it's a very desirable area with property values rising almost 30% over the past 3 years. Close to Raleigh, plenty of restaurants and stores (not quite where it needs to be yet but still good), plenty of land to build on. Knightdale also has very low crime, is quiet as many parts of it are still undeveloped so many communities are surrounded by trees, and I can go on.
With the new outer beltline expansion, once it's completed you'll be able to get from Knightdale to any part of Raleigh or suburb in no time.
Does Knightdale count as the triangle? Maybe not because it's not within city limits but it's a very desirable area with property values rising almost 30% over the past 3 years. Close to Raleigh, plenty of restaurants and stores (not quite where it needs to be yet but still good), plenty of land to build on. Knightdale also has very low crime, is quiet as many parts of it are still undeveloped so many communities are surrounded by trees, and I can go on.
With the new outer beltline expansion, once it's completed you'll be able to get from Knightdale to any part of Raleigh or suburb in no time.
Knightdale is definitely in the Triangle. All of Wake County is.
Does Knightdale count as the triangle? Maybe not because it's not within city limits but it's a very desirable area with property values rising almost 30% over the past 3 years. Close to Raleigh, plenty of restaurants and stores (not quite where it needs to be yet but still good), plenty of land to build on. Knightdale also has very low crime, is quiet as many parts of it are still undeveloped so many communities are surrounded by trees, and I can go on.
With the new outer beltline expansion, once it's completed you'll be able to get from Knightdale to any part of Raleigh or suburb in no time.
That sounds great until you realize that likely won't become a reality for a decade at least. While the last leg of 540 has been approved by the federal government, there's a lot more that has to be done to create the roads. he NCDOT must now start acquiring the land -- 1,825 acres -- to build the highway. An estimated 209 residences, 5 businesses and 3 non-profit organizations must move. And lawsuits from environmental groups are blocking the work.
Finally, the priority is to build the leg from Holly Springs to I-40 first, and that's estimated optimistically to be completed by 2023. The part from I-40 to Knightdale will be the last one done.
since it's a pleasant Friday afternoon, of 319 sales this year in the Triangle = > 300/sqft (excluding > 1 acre land plays):
149 or 55% are ITB
5 or 1.6% are in Cary/Morrisville/Apex
81 or 25% are in Downtown Durham
38 or 12% are in Chapel Hill
the rest are smattered all over.
This made me curious enough to refresh my memory of exactly what the ITB borders were (I'm one of those people who is 100% GPS dependent. I know the name of the roads where our home and DH's pool hall are located, and that's about it).
In looking for a map, I found these and thought it was pretty funny. Maybe it's been posted before, but I've never seen them.
This made me curious enough to refresh my memory of exactly what the ITB borders were (I'm one of those people who is 100% GPS dependent. I know the name of the roads where our home and DH's pool hall are located, and that's about it).
In looking for a map, I found these and thought it was pretty funny. Maybe it's been posted before, but I've never seen them.
Now, can somebody provide me with what on was actually looking for, please? Don't tell me "Inside The Beltway.". It won't help.
You can trace the Beltline (440) with your finger on the Zillow app and search inside it.
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