Realtors: What do you think about Scotts Mill near Apex? (real estate, rent)

[Bmateo]

Specifically talking about the townhomes/row-houses. They seem to be going for around $140k for 1300+ sq feet.

Contemplating needing a place for at least a couple years, maybe longer (long story, details not relevant). I'm thinking that the 540 toll road coming very close will have a profound effect on value. I'd assume it would raise value, as the commuinity is tucked away, but still very convenient to 55, 64, and soon 540. But I guess it could go the other way.

We "could" rent for that period of time, but if we needed to stay, that would be $20k frittered away in rent. If we bought, and lost $20k over two years in value, it would be a wash, if it held it's value it would be a net gain, and if the value increased that would be a win. Likewise, if it turned into something more perminant, we'd have built 2 years of equity.

Anyway, really all I'm asking is if it is a place that you (whoever you are) would recommend buying in or not.

Interested to hear from realtors, residents, or anyone else who has something to say. It would help to know where you're coming from, and what your perspective is...

Thanks,

[jperryrocks]

Not a realtor but lived in apex for many years very close to SM.

Scotts mill is pretty solid. I cant see you losing 20k on a townhome in 2 years.

But it might be a wash with paying closing costs, taxes, hoa dues, etc.

Townhomes in Apex are pretty stable and 100-110 sf is about the norm anywhere you go.

Apex real estate is pretty health and I wouldn't lose much sleep if you wanted to buy a TH in Scotts mill.

There's always buyers looking in the 150k & under range.

[dcgrl]

We looked at Scott's Mill when we first moved here in 2005. I think they were going for $190k at that time. That's crazy that they've dropped so much.

Are new units still being developed? If so, that might be my only reservation--if you need to sell 2 years down the line, you don't want to have to compete with new units.

(I am not a realtor)

[MikeJaquish]

I think the freeway is recognized in pricing already to a great extent.