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KulBC

Looking to buy a townhouse.

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My sister is looking to buy a townhome in the raleigh area soon. She's seriously considering Anderson Pointe townhomes off of Rogers rd in east raleigh. It's off of New Bern ave (64 bypass). Just wondering what anyone has to say about this area of raleigh. Is it a good area to invest in for the next 5-10 years? Also, does anyone have any other suggestions of where to look in other areas of the Raleigh area? Her price range is fairly low at 100,000 to 135,000. We looked in the Briar Creek area also, but the average townhome there looked to be from the 150's and up. I'll take any advice anyone can give right now about townhome real estate in wake county. Thanks.

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Portrait Homes has a lot of new construction townhomes in Raleigh in your criteria. They have 2 location within Raleigh and 5 more around it. The best places to invest over the next 5-10 years if your looking for a good increase in equity would be downtown Raleigh or Northeast Raleigh, especially in the Capital Blvd/540/Louisburg Rd. area. Owners in these areas seen property value increases between 60% and 150% late last year.

http://www.pasquinelli.com/

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from my experience townhomes in this price range do not appreciate much. My neighborhood I grew up in Wake Forest was built in 1987 and townhomes started at 75k then and sell for about 100 now....just a hair over 1% per year. Builders keep up with demand so resales never go up beyond inflation for something not unique. If your neighborheed has some particular draw (who knows what exactly) then you might beat inflation. But the good part is that Raleigh does not ever "bubble"...prices don't go down because things never get massively overbuilt and speculation is minimal. Use a sight like York Simpson Underwood that taps into MLS effortlessly and see what is out there. Keep in mind, living on the outskirts means traffic jam city, and radial road, 70, 64, 1, 401....slam packed...I like Gards advice of downtown but she is mostly priced out there except down near NC State.

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Keep in mind, living on the outskirts means traffic jam city, and radial road, 70, 64, 1, 401....slam packed...I like Gards advice of downtown but she is mostly priced out there except down near NC State.

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