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Old 05-28-2008, 09:30 PM
 
Location: Raleigh, NC
7 posts, read 17,875 times
Reputation: 11

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This has been a difficult search for properties in the nicer areas in Raleigh and Cary because of the price range. I will be on the look out for Village on the Green, Crown Oaks, and Pecan Townes if any listings show up. Thank you for mentioning these.
Quote:
Originally Posted by Janecj View Post
Check out the townhomes in Village on the Green (off of Shellburne Rd. in Ral), Crown Oaks (off of Six forks Rd) and maybe Pecan Townes near Spring Forest & Atlantic. I know some of them are in that price range.. maybe more like 85K.. but close to it. Unfortunately, doesn't look like any are on market right now, but these areas are better for resale.
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Old 05-28-2008, 10:01 PM
 
Location: Raleigh, NC
7 posts, read 17,875 times
Reputation: 11
Default Advice for Raleigh townhouse/condo search

You have brought up some good points to consider. All of which have been discussed and addressed in our search. My Aunt and I have a real estate agent here in Raleigh who has been working with us. My Aunt lives out of state; so, I have been searching and viewing properties in her place, representing us both. I have narrowed the search down to three properties. My aunt is going to fly in to RDU soon to view these properties. My concern right now is safety and learning more about the neighborhoods these properties are located in. I want to know what lays deeper under the surface than a buyer's information sheet. I don't feel that our agent is helping us do that. I believe getting the additional background info will help us make a sound decision. Do you have any suggestions or thoughts.
Quote:
Originally Posted by jinxor View Post
The spring is considered the hot season for home sales, as families try to schedule their home sales to occur during the summer break (to lessen the impact on their kids). However, people sell homes for a variety of reasons (job relocation, changes in family circumstances, etc.), so houses will go on the market during other times of the year as well.

As you've probably already figured out, at 80k price point, there may be limited inventory in the immediately vicinity of NCSU. You and your aunt will need to figure out your selection criteria and then determine which properties will meet your goals (location, amenities, distance from NCSU, potential resale). You and your aunt might also consider the number of bedrooms and bathrooms (especially if you're planning on a roommate situation to cover part of the operating expenses). Look at the costs of a 2 br/2 ba and compare with a 4 br/4 ba in terms of price, costs (HOA, mortgage), and potential rents. Just some scenarios and numbers to consider.
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Old 05-28-2008, 10:11 PM
 
Location: Cary, NC
2,407 posts, read 10,686,544 times
Reputation: 1380
Quote:
Originally Posted by ejprice2 View Post
You have brought up some good points to consider. All of which have been discussed and addressed in our search. My Aunt and I have a real estate agent here in Raleigh who has been working with us. My Aunt lives out of state; so, I have been searching and viewing properties in her place, representing us both. I have narrowed the search down to three properties. My aunt is going to fly in to RDU soon to view these properties. My concern right now is safety and learning more about the neighborhoods these properties are located in. I want to know what lays deeper under the surface than a buyer's information sheet. I don't feel that our agent is helping us do that. I believe getting the additional background info will help us make a sound decision. Do you have any suggestions or thoughts.
You'd have to speak to your agent about the specifics, but I suspect that your agent is unable to provide you answers to some of your questions due to legal/liability reasons. Alternatively, he/she might simply not know the answer. As far as safety goes, the Raleigh PD can tell you information about crime stats on a given street, which is a good place to start. Drive by it at different times during the week and weekend. Get a feel for the neighborhood. You can also have a chat with potential neighbors as you check out the properties on your short list. Good luck!
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Old 05-29-2008, 03:14 AM
 
9,680 posts, read 27,183,715 times
Reputation: 4167
Quote:
Originally Posted by ejprice2 View Post
If this is the case, How do non-resident investors that are owners of these properties play a part in this outcome of a crime-ridden neighborhood? What could be done to change this... any thoughts?
They rent to bad tenants and don't want to approve maintenance at board meetings.

The condo runs down and fills with losers.

A good condo restricts how long you can rent out the unit and enforces it. Enforcement is the key here.
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Old 05-29-2008, 03:20 AM
 
9,680 posts, read 27,183,715 times
Reputation: 4167
Do you really want to wind up a landlord?

Do you want midnight maintenance calls?

Do you want to have to get a lawyer, evict a loser, and repair thousands of dollars of damage?

Leave landlording to the pros unless you'll live nearby and have the skill and time to fix the property. As a condo owner, you must take care of all interior work along with things like the HVAC. You may get assessed for big common jobs like roof work. Townhomes usually require you to do almost all work on your nickel.
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Old 05-29-2008, 03:30 PM
 
Location: Raleigh, NC
7 posts, read 17,875 times
Reputation: 11
Default Advice for Raleigh townhouse/condo search

It makes sense that the agent just doesn't know the answers to my questions. I coming to accept that. My expectation was that long term real estate agents, who have worked in a specific city or location, would know about the neighbors contained within that city or location. Also, it was my expectation that the agent could direct me where I could possible get answers to my questions, just as you have. I going to take your advice and suggestions that you have shared with me and contact PD of the area and speak with potential neighbors. Thank you for your time and responses! (As of now, the list is so short, I have it memorized.)
Quote:
Originally Posted by jinxor View Post
You'd have to speak to your agent about the specifics, but I suspect that your agent is unable to provide you answers to some of your questions due to legal/liability reasons. Alternatively, he/she might simply not know the answer. As far as safety goes, the Raleigh PD can tell you information about crime stats on a given street, which is a good place to start. Drive by it at different times during the week and weekend. Get a feel for the neighborhood. You can also have a chat with potential neighbors as you check out the properties on your short list. Good luck!
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Old 05-29-2008, 04:39 PM
 
Location: Cary, NC
2,407 posts, read 10,686,544 times
Reputation: 1380
Quote:
Originally Posted by ejprice2 View Post
It makes sense that the agent just doesn't know the answers to my questions. I coming to accept that. My expectation was that long term real estate agents, who have worked in a specific city or location, would know about the neighbors contained within that city or location. Also, it was my expectation that the agent could direct me where I could possible get answers to my questions, just as you have.
Agents must comply with state and federal regulations concerning Fair Housing, and so they cannot offer comments based on any of the protected classes. In addition, due to liability reasons, they are reticent to make claims on things that are outside of their control or area of expertise (crime, school assignments, for instance).
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