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Greensboro, Winston-Salem, High Point The Triad Area
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Old 02-03-2010, 10:20 AM
 
42 posts, read 110,596 times
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Thanks for the info. I used to live in a 5 million pop city in the northeast so in general I'm pretty comfortable with various situations that might feel unsafe. But of course since I'm interested in buying a place, I don't want to live somewhere that most people would consider unsafe (and the property value go down). My personal preference, is to live in an area that's a little less commercialized (ie prefer no strip malls with Wal-Marts, etc.) but don't mind a downtown with shops, etc., but I'm also not interested in being in suburbia either since it's just me--no kids.

Although your descriptions of Davidson County are appealling, I assume mileage wise from the Old Salem area, wouldn't really be bike-able (at least reasonably, I mean!) I'm looking for something perhaps in 10 mile radius or less.

I have plans to be in W-S in a couple of weeks to check things out. I'm starting to lean towards being closer to downtown. I'm big into bike commuting and a walkable community, so I think that limits my looking to either Downtown, West End, Old Salem, West Salem, Ardmore or Washington Park. I'm starting to think maybe a condo would be best for me (making major repairs makes me nervous since this would be my first home purchase), but I need a garage and at least a bit of a yard.

I just recently found the website that has the new construction projects in W-S--condos, etc. And found the site for the Salem Place Townhomes. They look great! Does anybody know much about them?
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Old 02-03-2010, 01:22 PM
 
Location: Winston-Salem
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Salem Place Townhomes are just one block south from where we owned a townhome and lived for 10 years (moved in 2008). They were built 2-3 years ago, and hit the market not long before the downturn in the economy. As a result, sales were pretty slow, or at least seemed that way to a casual observer. I walked through one when it was still under construction. They are really nice but were quite a bit pricier than the small neighborhood we were in (but our homes were built 25 years ago). They also have more levels than I would have wanted. I know the Brownstones next door have elevators... can't remember if these did or not. Google the web site for Leonard-Ryden-Burr, the listing agents, for more details.

Anyway, one thing to be aware of is that Marshall Street, the street they front on, is a rather busy north/south thoroughfare. You'll have periodic sirens (fire and police) screaming by at various times of day and night, as well as busses and trucks rumbling by. Our home backed up to Marshall Street with our bedroom and living room on that side of the house. The traffic noise was hard to ignore, but it wasn't a dealbreaker for us.

Be that as it may, I loved the neighborhood. The new YWCA is 1-2 blocks down the street... between the Townhomes and School of the Arts. You can pick up the Greenway Trail at the southern end of Old Salem. It goes out to Salem Lake - paved for 3+ miles to the lake, dirt trail around the Lake is 3.95 mi. (if I remember correctly) We biked it all the time.

This is exactly where I was suggesting in an earlier post that you look if you didn't have to have a yard.
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Old 02-03-2010, 01:37 PM
 
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Roadpony,
The one that I was looking at on the website for Salem Park Townhomes, is the one that has the courtyard with it--so I could have a bit of a yard.

They do seem a little high compared to the rest of the area ($255,000 v. $137,900 for the Academy Park Condos.)

What units were you in? I noticed there is a unit in the Academy Park condos currently for sale. It looks well kept for being 20 years old, has a garage, but I don't think you really have any access to your own piece of yard (just a deck only).

Any chance that was the units you were in?

Thanks for the heads up on the sirens. I would prefer to not have that, but I suppose anywhere in that area you would still contend with that issue, then.

The Salem Park Townhomes (Coventry with a courtyard that are already constructed) face Locust Street, which I suppose would be a tad better on the noise levels?

If you have any other recommendations for particular units that might be a little less pricey than the SPT but have a garage (and a wee bit of a yard), that would be helpful for me to check out during my visit in a couple of weeks.

Where do you currently live?
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Old 02-03-2010, 06:56 PM
 
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Yes. The apartments themselves were lovely. But the crime reports compared to everywhere else we have lived were crazy. There was a murder not to far from there while we were there. There were groups of young people just hanging out along the streets and all the buildings looked unkept. Sure there were a few places that were well kept but the overall feeling was not pleasant. We have lived in WI, AZ, and UK and this was by far the worst place.
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Old 02-03-2010, 07:17 PM
 
Location: Winston-Salem
4,218 posts, read 8,478,290 times
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I just figured out that you're talking about the craftsmen-style townhomes on Poplar Street one block behind Marshall Street. I thought you were referring to the all-brick townhomes that front on Marshall. They're both called Salem Place. It's confusing. I love the ones on Poplar and would buy one in a heartbeat if we were in the market. I looked at several of them when they were first built. No, the road noise won't be nearly what I was talking about earlier.

We lived at Tanner's Run just off Bank St. and Marshall. There are only 12 homes in the HOA so they don't come on the market very often. Our townhome was a brick end unit, 2 story plus basement garage, so actually 3 stories. We had a fence around our deck; the previous owners had dogs, so it was almost like a courtyard. Pricewise, it was in between the two prices you mentioned.

Academy Park is 20+ years and not nearly as well constructed as Salem Place. It's clearly the old adage... you get what you pay for. I've never been inside any of the units there, but walked through their parking lot frequently when walking my dog. I would ask how many units are owner-occupied vs. used as rentals. I'm not saying they aren't a good value, but they are on the low end of the neighborhood and I'm not sure there's much chance for appreciation unless the economy really takes off.

We moved to Greenville, SC in 2008 due to hubby's job transfer. Greenville is a great town, but I miss W-S.
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Old 02-08-2010, 05:34 PM
 
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I have lived in Winston for 34 years and know most of the core neighborhoods pretty well. We've done 20 restorations of older homes, mostly mid 20's bungalows. I don't have a project of my own available for sale right now but there are several "done" houses in the mid $150's on the market. When I say done I mean new roof/HVAC/plumbing etc. I am a Realtor® as well and would be happy to help if you aren't working with someone yet. I apologize to appear to be trolling for business but I happened on this thread and thought I'd offer my experience.
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Old 02-08-2010, 05:54 PM
 
42 posts, read 110,596 times
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Default lower priced in higher priced neighborhood

Forgive my lack of home-owning experience, but I've always heard it's best to buy the lowest priced home in a higher end neighborhood because your property value will be seem higher (instead of lower). And people are always going to want to pay less rather than more for a similar home, so the lower priced ones would be more in demand than the higher ones, I would think.

Right?

I'm glad to hear that you like the ones on Poplar (as far a road noise, better built, etc). I'm hoping to look at them when I'm there next.
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Old 02-09-2010, 11:51 AM
 
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If all things are equal, yes. However, there is a premium to be paid for a neighborhood that "everyone" feels is "the" place to be. On the flip side there is a discount for a neighborhood that is less well known.
The trick, in my opinion, is to find a neighborhood on its way up versus one that is "already there". I have witnessed several neighborhoods in Winston (Holly Ave & Washington Park are the best examples) go through this process.
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Old 02-09-2010, 12:28 PM
 
42 posts, read 110,596 times
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Quote:
Originally Posted by roadpony View Post

We lived at Tanner's Run just off Bank St. and Marshall. There are only 12 homes in the HOA so they don't come on the market very often. Our townhome was a brick end unit, 2 story plus basement garage, so actually 3 stories. We had a fence around our deck; the previous owners had dogs, so it was almost like a courtyard. Pricewise, it was in between the two prices you mentioned.
There is currently one unit in Tanners Run, a one-story that doesn't appear to have any yard or deck. Are you saying these are well-built and worth considering?

I think I mis-read your email before that the Academy Run places were the ones that were the low-end of the neighborhood and won't increase in value (I thought you meant the Poplar townhouses).
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Old 02-10-2010, 09:09 AM
 
Location: Winston-Salem
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The unit on Bank Street is across the street from where I lived. It's in a different HOA than the one I was in. Even though it doesn't have an enclosed patio or deck, there is a huge vacant lot beside it that belongs to Old Salem, and is likely to never be developed. A part of that lot is used by a couple of neighbors as a community vegetable garden. I used to let my dog run and play on this lot.

There are three different "Tanner" HOA's along that section of Marshall Street... Tanner's Run is the smallest and consists of 12 units east of Marshall and south of Bank St.

Tanner's Mill is east of Marshall and north of Bank Street. This is the HOA for the unit you mentioned.

Tanner's Park stretches for a long block west of Marshall and between Brookstown and Academy, but doesn't include Indera Mill.

Dancy Construction built all of the Tanner developments, and others on Marshall Street, over a period of years up to present day. The company has a good reputation for quality. We were very happy with ours, and it was built in the 80's.


I didn't say that Academy Park units wouldn't increase in value; I meant to say that, in my opinion, they are less likely to increase as much as other developments nearby. I'm no real estate expert, so please take anything I say with a grain of salt.

On your other thread about asking price vs. selling price, you've been encouraged to use a buyer's agent. Once you know for sure about your job, and if you start seriously shopping for a home to buy, I encourage you to do that. I'd be happy to give you the name of the Realtor who helped us sell our home; he also works as a buyer's agent. Just send me a direct message if you want his name and contact info.
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