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People pay a premium to live closer to work around the country; around the world. It is not unique to Cary/Apex -which I guess now, as the Raleigh metro sprawls out, are considered "inner" burbs. We all now traffic ain't getting any lighter around here.
Convenience to work + recreation (parks, greenways, trails) + culture (events, museums) + amenities (ethnic eateries) = higher value. Schools (good) also add significant value as well.
What surprises me is how much people pay for new build 30 minutes further out. Really, the price of new build anywhere around here is crazy....need deep pockets. There are some people that value new build more than me I guess. I'd rather have a slightly older smaller house with a 15 minute commute to work vs. a newer larger house with a 45 minute commute to work. That is an extra hour a day! If you have to have a brand-new McMansion in Cary or Apex then yes, hope you have EXTRA deep pockets. However, if you can live with a house that might need some updates () then there are some affordable/reasonably priced options in Cary/Apex.
The "houses needing updates" in good locations get snatched with an insane speed. Hard to make it happen.
I understand Apex being such a valuable area to live in now. Taking the toll road I could go from my job in RTP to downtown Apex in 15 mins. Its got a small town feel, a nice downtown, decent schools. What's not to like?
People pay a premium to live closer to work around the country; around the world. It is not unique to Cary/Apex -which I guess now, as the Raleigh metro sprawls out, are considered "inner" burbs. We all now traffic ain't getting any lighter around here.
Convenience to work + recreation (parks, greenways, trails) + culture (events, museums) + amenities (ethnic eateries) = higher value. Schools (good) also add significant value as well.
What surprises me is how much people pay for new build 30 minutes further out. Really, the price of new build anywhere around here is crazy....need deep pockets. There are some people that value new build more than me I guess. I'd rather have a slightly older smaller house with a 15 minute commute to work vs. a newer larger house with a 45 minute commute to work. That is an extra hour a day! If you have to have a brand-new McMansion in Cary or Apex then yes, hope you have EXTRA deep pockets. However, if you can live with a house that might need some updates () then there are some affordable/reasonably priced options in Cary/Apex.
Actually, the homes in need of updates have been asking some rather high prices too. Sure not as high as new construction but I have been surprised by prices.
I wouldn't get too hung up on the schools, with WCPSS making all kinds of crap decision lately and the amount of money this state wastes from year to year, the reckoning is gonna come sooner rather than later. State superintendent just bought a system to test kids' reading that takes teachers completely out of the equation. And the teachers are held to a pretty strict standard when doing mClass but taking the human element out is wrong on so many levels. Meanwhile recently purchased mClass materials are now going to sit untouched.
They're also using an ELA program in the elementary schools that's nearly as bad as the MVP math program is in high school. And they lie about everything and fudge numbers. Like with MVP math they are saying no significant difference in performance....that's because kids who failed all year had their finals graded on a massive curve so they would pass.
Yeah, I've seen the complaints about the new learning systems. Is the goal to implement a system that is more difficult for high performers, so that there is less disparity between demographics? Just a numbers game at the expense of potentially high achievers?
Seems like a particularly expensive time to buy a house in Cary or Apex. Better to rent until the bubble deflates some, right?
I don’t see a bubble but rather high demand and high construction costs passed on to you if your thinking new.
The area scores well in all areas and is close to where people work especially western Cary and Apex so location,location,location!!! Depends on your lifestyle as if you have kids/pets I rather have a house and rather have the privacy rather than hearing your neighbors going at it or noise from the cars in the parking lot at all hours.
Sure Garner and other points south and west will grow but good luck with your commute. Wake Forest is another example of a hot spot yet it’s kind of out of the way and traffic will make you pull your hair out.
Been in The RE business here for 30 plus years and was able to leave my research job since RE was more lucrative especially the commercial side as you can defer taxes yet get the cash flow right away...historically this area does well in terms of return on investment including a primary home just make sure your here for the long run and you will be fine.
Yeah, I've seen the complaints about the new learning systems. Is the goal to implement a system that is more difficult for high performers, so that there is less disparity between demographics? Just a numbers game at the expense of potentially high achievers?
Wow, you got it quick....yeah, it's closing the achievement gap, not by making poor performers better but by forcing good performers into lower classes. Worked for us, I dropped my daughter from honors math to academic level. She's not planning on a STEM career so it doesn't really matter for her but for some kids this is putting the hurt on some college plans. The man who brought MVP math to Wake County is on record saying he doesn't believe there should be different levels of classes. He's gone and bringing his **** show to Charlotte schools now.
It's actually designed to teach mathematical thinking rather than the rote performance of tasks detached from analysis and purpose. If students have come to believe that work = success, it can be hard to switch thinking over to understanding = success.
The demand remains. Look at all those townhouses going up on highway 55, the Brickyard. I bet they will all sell quickly also. Those are NOVA-style with 3 floors!
There's a Wardson house on Green Level Church Rd that is "only" 3700 square feet but costs $829k! And then you have Montvale where houses, although big (I think most are over 5000 square feet) and cost over 1 million. Yes, those builders are good but the prices are increasing every year and people paying them.
The demand remains. Look at all those townhouses going up on highway 55, the Brickyard. I bet they will all sell quickly also. Those are NOVA-style with 3 floors!
There's a Wardson house on Green Level Church Rd that is "only" 3700 square feet but costs $829k! And then you have Montvale where houses, although big (I think most are over 5000 square feet) and cost over 1 million. Yes, those builders are good but the prices are increasing every year and people paying them.
$829k/3700 is ~$224/sqft
$1M/5000 is ~200/sqft
Those aren't outrageous figures when you adjust for inflation and factor in lower interest rates. Never even mind the increased demand from the influx of people moving into the Triangle ever day.
A new build in 1993, when I first became a homeowner (of a 5 yo resale), in Cary was going for ~$100/sqft just for your basic construction/finishes by crappy national builders. An inflation calculator says that is $180/sqft today. That was at a 7.5% interest rate, with buildable land all around. No stainless steel appliances, granite countertops, fancy trim work, fixtures, etc.
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) then there are some affordable/reasonably priced options in Cary/Apex.
