Rant about the housing market in the Raleigh area. - Page 2

Thunderace1997 · 06-07-2007, 08:51 PM

yeah, I already looked up royal oaks. it shows you the communities but if you want housing plans it says to call them...kind of stupid if you ask me. it seems a lot of builders are doing that now.

Thunderace1997 · 06-07-2007, 08:54 PM

Quote:

Originally Posted by TRaGiK

Hah. That's funny. I grew up in a neighborhood and refuse to buy a house where I have neighbors.

my wife grew up in a neighborhood and loved it. i grew up in the middle of the sticks in south jersey and loved it. nothing around ya and piece and quit. where we live now we have an acre and 1460 sq ft house. i work a lot of weird hours so my wife gets bored out here with just her and the lil one. she wants to live closer to her friends and our family so looks like we'll be moving closer. plus we need a bigger house. it's gonna suck giving up the land i have now. if i had my way i'd get 20 acres in the middle of now where. have a big garage and house. i don't like developements at all but when the boss is happy, im happy lol

kazlab67 · 06-07-2007, 08:56 PM

I live in Cary. Paid 169K for a 1700 sq ft house built in 85. Great neighborhood. No covenants or HA, .25 acre of property. House could use some upgrades which I steadily chip away at but I have no complaints.
I have lived in all kinds of neighborhoods and I am done moving.

sukemecuke · 06-07-2007, 09:00 PM

Quote:

Originally Posted by kazlab67

I live in Cary. Paid 169K for a 1700 sq ft house built in 85. Great neighborhood. No covenants or HA, .25 acre of property. House could use some upgrades which I steadily chip away at but I have no complaints.
I have lived in all kinds of neighborhoods and I am done moving.

Yeah dude I hate to say it but we priced houses near your neighborhood that were selling for wayyyy what you paid. Prolly like 225k at least.

sukemecuke · 06-07-2007, 09:01 PM

Quote:

Originally Posted by Thunderace1997

yeah, I already looked up royal oaks. it shows you the communities but if you want housing plans it says to call them...kind of stupid if you ask me. it seems a lot of builders are doing that now.

Yeah I figured that. The girls there are really nice you should stop by and gather up a price listing with plans.

kazlab67 · 06-07-2007, 09:06 PM

Quote:

Originally Posted by sukemecuke

Yeah dude I hate to say it but we priced houses near your neighborhood that were selling for wayyyy what you paid. Prolly like 225k at least.

No don't say hate to say it...I love hearing that

Thunderace1997 · 06-07-2007, 09:14 PM

i'm also thinking of looking into foreclosures in the apex/cary area. there seems to be a good amount

get-bent · 06-07-2007, 09:30 PM

My wife and I moved to the Raleigh area from the Washington-DC metro area around Christmas 06.

We bought a house in south Raleigh (about halfway between Garner and Fuquay but still have Raleigh mailing address) for ~250K. 2200 sq. ft of finished living space, 2 car oversized garage, 1.5 acres with about 1/2 acre privacy fence in the back yard. There is also a shop in the backyard which has another garage (for riding mower and trackbike

) and a workshop for storing tools and such.

The house itself is 3br, 2.5 bath with additonal bonus room. House was built in 1998 and is an established neighborhood of about 50-75 homes. No HOA so I can store my bike trailer in my yard with no issues (and maybe a boat someday).

The reason we moved to the Triangle was specifically for the house prices. I work for a large company and had the opportunity to transfer down here. The house we bought for ~250K here would have easily been $7-800K up there. The housing market is crazy. We pay slightly more (less than $100) per month for our mortgage here than we were paying to rent a $500K townhouse in NoVA (townhouse was about 1800sq ft).

The housing market here is obviously more expensive than living in Hazard county, as this is one of the few populated areas of NC. I doubt living in Mecklenberg would be any cheaper than living in Wake county. Unless you have ever visited an area like metro-Washington, NY City, LA, you wouldn't understand how expensive houses CAN get.

The only advice I can give, is with the way people are moving to this area (according to the news, etc) is that if you can afford to buy, do it now because its not going to get any cheaper. I watched the housing market skyrocket in NoVA in the short time I was there Jan/03 to Dec/06. A townhouse you could buy for around $250K was worth ~400K in only about 2 years.

Spyda · 06-07-2007, 10:02 PM

Get-Bent is right on the money. It's really not that bad around here compared to the other metro areas north up the east coast. I lived in Rockville, MD during the housing explosion. The brand new 2200 sq/ft townhouse I bought for $250K in 2003 sold for $360 in 2004, and those owners sold it a year later for $420K. It's totally fricking ridiculous. The housing market anywhere within a 30 mile radius of Boston is even worse. There really isn't hardly any new construction there and anything decent is $400K+, 600K+ for a nice 3000 sq/ft place with 0.5 acres. Massachusetts is undergoing an exodus because people can't afford to live there! I bought a 10 year old halfway decent house in NH with no upgrades for $360K on a 1.5 acre lot and that was a pretty good deal at the time. BTW, taking care of a yard that size sucked balls. Then the market in my town collapsed after they decided that our taxes should be $7,500+ per year. Hmmm, great deal that there's no income tax there, but they rape you on the property tax.

I had one day to find a house in Raleigh when my company moved me down here (my own self-imposed time contraint because I had another job offer in Seattle and needed to make a decision ASAP) and I settled on a 3500 sq/ft house with shit loads of upgrades, 4br, 3.5ba on a 0.20 acre lot north of 540 for $350K and thought I got the deal of the damn century. My wife and I both work out of the house and I don't have to drive during rush hour when I see customers, so I don't realy mind having to drive 30 or 40 minutes to get to Duke and Chapel Hill since it beats the shit out of driving 2 hours to get to Boston in the morning from my old place which was like a 40 mile commute.

It's all relative...

PS, not having a basement sucks.

Thunderace1997 · 06-07-2007, 10:19 PM

i understand what you and bent are saying. I'm from jersey so I've seen some outragous prices. I guess the pay scales in the jobs have to catch up to the housing. Its amazing that the everyday working man has to get an extra job to get a nice house in a nice community for his family. Living in 200K homes is hard for the teachers, firefighters, police, medics, nurses ect. I know this area is a big area for the tech stuff but not all of us are in the tech business making the tech money. I guess I need to stop working a job that helps people and get a job that helps myself.

i agree, not having a basement sucks.

sukemecuke · 06-07-2007, 10:21 PM

Quote:

Originally Posted by Thunderace1997

i understand what you and bent are saying. I'm from jersey so I've seen some outragous prices. I guess the pay scales in the jobs have to catch up to the housing. Its amazing that the everyday working man has to get an extra job to get a nice house in a nice community for his family. Living in 200K homes is hard for the teachers, firefighters, police, medics, nurses ect. I know this area is a big area for the tech stuff but not all of us are in the tech business making the tech money. I guess I need to stop working a job that helps people and get a job that helps myself.

i agree, not having a basement sucks.

Most people that migrate here from larger cities don't understand our concern.

Spyda · 06-07-2007, 10:34 PM

Quote:

Originally Posted by Thunderace1997

I guess I need to stop working a job that helps people and get a job that helps myself.

Ding Ding Ding! I wish I could do a service that benefitted society, but there isn't enough dough in it until you retire and the pension kicks in.

SqDancerLynn1 · 06-07-2007, 10:54 PM

If you want to betch about the prices try California $500K ++++

sukemecuke · 06-07-2007, 10:58 PM

Quote:

Originally Posted by SqDancerLynn1

If you want to betch about the prices try California $500K ++++

whats the median income there? Thats the biggest difference. I believe the median income here is like 40k so a 250k house to them is crazy expensive. I would guess the median income to be close to well over 100k for places like LA, and NorCal. So its all relative.