Providence Place (K.Hovnanian) House Resale due to Sam's Club & Walmart (Cary: established neighborhood)

[jsuji]

We are very seriously considering to buy at Providence Place (K. Hovnanian) but wanted to know what impact from a resale perspective it will have as Sams Club and Walmart are opening there.Having them there is it a positive or be a negative specifically when the time comes to sell. Will the shops coming there drop the housing prices.Appreciate your input.

[gobirdz27]

I don't think it would be a factor either way. I'd be more concerned about train and plane noise. We looked at Providence Place a few years ago. It seemed nice at the time, but I think you can do better in the area (and avoid the planes and trains).

[emanresu2]

Providence place is currently selling for a lot less than most comparable neighborhoods in that area. I don't think the Walmart will be a negative, it is less than a mile away but not visible from the community and unless you are coming from Miami Blvd you won't generally see it. Also bear in mind that in a few years Church st. will no longer intersect with 54 and instead will go up to Hopson Rd, so there will be even more separation from the wallmart. As mentioned the plane/train noise is probably the biggest issue, but its the tradeoff for living right next to RTP in Wake county. But in a few years there will no longer be any at grade crossings for the train within several miles either way so the trains will no longer whistle, so eventually the train noise will basically cease to be an issue.

The most price comparable neighborhood in the area is McCrimmon at the Park, and I think it will have a bigger resale issue in the future as the road that goes through it (old maynard) is going to become a 4 lane, 55mph commuting thoroughfare in 2 years.

[jsuji]

I also heard that the Providence place has high voltage wires running through the neighborhood and was wondering if that could be a big concern and also how far should your house be from them

[emanresu2]

A few lots back up on them and I would hesitate about buying one of these lots for aesthetic/resale reasons, but other than that I doubt its an issue because the neighborhood is wooded enought that you dont see them from most places. I figure they must be giving some sort of discount on these lots, but I didn't ask because I am looking at buying in a different part of the neighborhood.

At least they arent those huge 300 foot tall rust colored poles that they are stringing along 540 - lots of established neighborhoods like Breckenridge and places in West Cary woke up one morning to find these things towering over them!

[James Taylor]

Originally Posted by jsuji

We are very seriously considering to buy at Providence Place (K. Hovnanian) but wanted to know what impact from a resale perspective it will have as Sams Club and Walmart are opening there.Having them there is it a positive or be a negative specifically when the time comes to sell. Will the shops coming there drop the housing prices.Appreciate your input.

A word of advice,
Just scratch Morrisville completely off your list.
Morrisville...Blech.