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Old 10-19-2007, 09:47 PM
 
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Just curious if anybody knows this neighborhood. I was checking out some listings online and I found an older house (1974) with 4 beds 3 baths (1700 sq/ft) a 1 car garage, no HOA fee, and it is on .4 acres with nice mature trees. All this for $189K. Sounds like a lot of home and land to me for the price. I might take a swing through there someday to see what else is in that area, but I was pleasantly suprised to come across this house and see that there are still some larger albeit older homes on larger lots for less than $200K in Cary.
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Old 10-20-2007, 05:33 AM
 
Location: Cary, NC
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Real Estate Blog - Cary, NC Real Estate, Oakwood Heights, Affordable neighborhood, superb central location

This listing is in a similar affordable neighborhood. They are almost always split levels. FSBO-No Credit Needed, Lease to Own (broken link)
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Old 10-20-2007, 05:47 AM
 
Location: Cary, NC
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It's a nice older community. Some of the homes are better kept than others but I suppose that's to be expected. I wonder how many are owner occupied?
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Old 10-20-2007, 05:54 AM
 
Location: Cary, NC
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Quote:
Originally Posted by jinxor View Post
It's a nice older community. Some of the homes are better kept than others but I suppose that's to be expected. I wonder how many are owner occupied?
Jinxor,
There are quite a few rentals.
To me, the large lots, trees, and quiet side streets are so desirable it is a shame that investors are so much quicker to buy than Owner Occupants who often dither until the opportunity is lost.

Also, I think Oakwood Heights and surrounding neighborhoods may one day soon be targets of teardowns and new construction, since fixers are often priced at about the cost of a good building lot.

Last edited by MikeJaquish; 10-20-2007 at 06:58 AM..
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Old 10-20-2007, 06:04 AM
 
Location: Cary, NC
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That is a shame, but I suppose it'll be good investment opportunity in the short term then. I hate seeing McMansions popping up in older neighborhoods. There is so much charm in the older neighborhoods and also nice to keep housing affordable. One of the primary reasons the triangle is attractive is the wide range of housing options (as I like to say, something for everybody).

I grew up in the SF south bay, where there's little land available for new development. I see a lot of tear downs. What a shock to see six McMansions pop up between much smaller split level and ranch houses built in the 60s and 70s. It still tears at me.
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Old 10-20-2007, 06:13 AM
 
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Originally Posted by MAtoNC! View Post
Real Estate Blog - Cary, NC Real Estate, Oakwood Heights, Affordable neighborhood, superb central location

This listing is in a similar affordable neighborhood. They are almost always split levels. FSBO-No Credit Needed, Lease to Own (broken link)
Thanks for that link, that was exactly the kind of information I was looking for. That neighborhood seems like a hidden gem to me. I keep a little list of places to check out down the road when I sell my current house in a few years. Oakwood Heights has just been added to the short list!
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Old 10-20-2007, 06:47 AM
 
Location: Cary, NC
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Medfield in Cary also looks like it had a few tear-downs. But they weren't replaced with McMansions. They blended in just fine. That I don't mind at all. I hate it when a house sticks out like a sore thumb in a neighborhood and looks like it just doesn't belong there.

I was wondering if we wil see more of this since land will run out and the mature landscaping will already be there.

Quote:
Thanks for that link, that was exactly the kind of information I was looking for. That neighborhood seems like a hidden gem to me. I keep a little list of places to check out down the road when I sell my current house in a few years. Oakwood Heights has just been added to the short list!
And you will become Cary Guy?
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Old 10-20-2007, 02:23 PM
 
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Quite a few towns in MA have become victims of "mansionasation". People wanting into Lexington, Wellesley, etc., will buy an older house on a nice lot, tear it down and build a McMansion. Some towns have started to pass laws prohibiting this.
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Old 10-20-2007, 06:08 PM
 
Location: Cary, NC
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A little birdie told me that the new houses in Mefield where not on tear down lots. IThere was actually land that was available in that subdivision to build the newer homes. Please excuse my earlier post... as that info was not correct
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