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Isn't the problem with run-down houses though that they are in neighborhoods where there are several of them? So you're going to see limited appreciation if at all, unless most to all of them get bought and redone. Correct me if I'm wrong. I'm looking to buy a house too and I'm new to this.
That a neighborhood has a number of run-down houses does not indicate limited future appreciation. Think of the old saying about the stock market: Past performance is not a guarantee of future results. This is also true of real estate.
In fact, somewhere in the Triangle, there is probably a neighborhood full of run down houses that in 4 to 6 years will have appreciated significantly. Of course, the identity of said neighborhood is currently unknown. Otherwise, all of that future appreciation would already be priced into the real estate there. So it is that very uncertainty that creates the potential for future appreciation.
Pssssst. Think: Brentwood. Google beautiful brentwood to find the neighborhood site put together by neighbors that includes Raleigh info. Nice yards, solid houses, well-kept homes in a good price range, convenient to everything anyone would ever want in the Triangle area. Magnet elementary school right in the neighborhood. Park. Tennis courts. Flowers. This time of year, with all the mature trees and bushes and flowers, it's incredible.
Here are some pics from April 15 2008. They are the same this year.
Pssssst. Think: Brentwood. Google beautiful brentwood to find the neighborhood site put together by neighbors that includes Raleigh info. Nice yards, solid houses, well-kept homes in a good price range, convenient to everything anyone would ever want in the Triangle area. Magnet elementary school right in the neighborhood. Park. Tennis courts. Flowers. This time of year, with all the mature trees and bushes and flowers, it's incredible.
Here are some pics from April 15 2008. They are the same this year.
I really can appreciate the nice landscaping, but the houses all look pretty plain & cookie cutter.
One more pic -- this is one of the two lakes in Brentwood and was taken last fall.
I tell you, Brentwood is the place to be. Where else can you look out your window and feel like you're in the country -- and you're between the beltlines, minutes from everything? (I'm not a Realtor, I just have never understood why houses in other convenient Raleigh neighborhoods, such as Oakwood [which I like, I grew up in similar homes] cost SOOO much, while Brentwood homes are quite reasonable.)
When I first moved here, I often heard this adage: "Raleigh is a city within a park." I don't feel that way about Raleigh anymore, with all its growth. But I do feel that way about Brentwood.
Last edited by lovebrentwood; 04-07-2009 at 04:59 PM..
Have you looked at The Village of Westgate? Most of the homes in the neighborhood are under $200,000. They are great first time buyer homes. The neighborhood is right near the corner of Leesville and Westgate Roads.
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Pssssst. Think: Brentwood. Google beautiful brentwood to find the neighborhood site put together by neighbors that includes Raleigh info. Nice yards, solid houses, well-kept homes in a good price range, convenient to everything anyone would ever want in the Triangle area. Magnet elementary school right in the neighborhood. Park. Tennis courts. Flowers. This time of year, with all the mature trees and bushes and flowers, it's incredible. 
