Raleigh Eastern Suburbs are Way CHEAPER: This is Why
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- čas přidán 16. 03. 2022
- Trying to decide which Raleigh suburb is best for you? Today we're going to be looking at the things that impact property values in Raleigh suburbs, how they have changed over time and how we can expect them to continue to grow in the future.
#ellenpitts #raleighsuburbs #raleigh
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My name is Ellen Pitts and I am a Raleigh NC Realtor, at Hunter Rowe Real Estate. My team would love to help you with your move in the Raleigh area or we would be glad to refer you to one of our partner agents throughout North Carolina! Schedule your free home buying or selling consultation with me and my team here: ellen.pitts@hunterrowe.com
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Ellen Pitts
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excellent video...very very information
Glad it was helpful!! Feel free to reach out if you need help with your home search! Ellen.pitts@compass.com
Also in the meantime, there is a lot more content on my website! www.harmonyrealtytriangle.com
Garner, Garner, Garner. As downtown gets more amenity rich, Garner's proximity to it is going to become more evident.
Good luck with getting the house!
I totally agree with you about Garner! It has been pretty slow to grow but it’s location is way to good to stay that way!
@@EllenPitts When we start seeing teardowns along Timber Dr. neighborhoods, the time to pounce will be too late. That drive already looks like a less crowded Cary Parkway, and when newer houses start replacing the aging smaller ones, sit back and watch Garner go nuts!
Just stumbled onto your channel, what great content you produce.
Awww thank you so much!!
Fuquay-Varina (not Fuquay), is the only Raleigh suburb that I would consider living in if I were to live anywhere else in Wake County. I am currently renting in Raleigh, and it's getting a little too expensive to buy a house in this area now. If I had the money back then, I would have bought a house in 2010 or 2011, most likely in Fuquay-Varina. I like that it is in the southern part of the county & actually is easy to get to the beaches without dealing with I-40 traffic. On the other hand, living in the east suburbs also has one big perk: The sun won't be in your eyes when commuting to & from Raleigh. If you live east of your job, the sun will be behind you in the morning & in the late afternoon.
Zebulon has the highest inventory so it’s probably the easiest place to get a deal. They are the only town in the Triangle where it is officially a buyers market.
Hi Ellen, I’m looking to buy at the 5401 North by Lennar and other builders. Would you please comment your insight? Thank you! Awesome channel
Hi, Garza! So glad you're enjoying the channel. :) I would love to help! Can you reach out to me at ellen.pitts@compass.com to schedule a quick call?
We have lived here for two years. I was so confused about why there are no real towns. I wanted a town with little stores. It is only recently I have realized Raleigh proper is a town. The rest are suburbs. But we are not far from Fruqua- Verina or Garner.
I still miss having towns. I refuse to drive on the winding roads. 'I'm used to having straight roads where you don't have curves I was used to using cruise control. So I am either going too fast or too slow. Now I don't drive at all. I truly love our house and the area. We have been to the beach once and the water is warmer than in CA ... But, I don't mind staying home.
Hi Ellen love your content and been subscribed since 2020 when we discovered your channel! What’s your opinion on the future growth and property values of Rolesville given it’s proximity to Raleigh? I see there are a lot of new developments and projects being proposed or in progress over there. Also, with the growth of Wake Forest/Knightdale do you think Northeast/East Raleigh (Capital Blvd) will be redeveloped to accommodate this growth?
Hi, Gabba!! Wow you’ve been watching a long time!! I honestly don’t think you can go wrong anywhere in the Triangle but that area is particularly good with all the new development that is currently in the works. North Hills type development is happening near the beltway in northeast raleigh. There will be so much new shopping and beautiful housing. I did a video about it awhile back but honestly can’t remember which one it was in or I would link it!! 😂 I will do another one about what’s coming soon in Raleigh.
Its kinda funny seeing homes on several acres in West Cary. These are the owners that refuse to sell to developers lol. Good video.
They are rare birds!! 😂
I moved to the Penny Road area last August, and couldn’t be happier. My husband wanted a large yard and I wanted to be close to all Raleigh and Cary have to offer. I hope you have luck finding a house soon.
Thank you so much!! It’s such a beautiful area!! Maybe we will be neighbors!! 😂
Hi Ellen! Thanks for the video! Just used one of your agents (Kendall) to buy a house in Hedingham a couple of months ago but I may be priced out by next January when I buy again. Do you have any thoughts on Clayton or any guesses on what could become the next Cary on the Eastern/Northern side of Raleigh?
Hey Angela!! So nice to hear from you!! I will just say that first of all, I don’t think there is anywhere in the triangle that is going to be a bad investment. They’re all going to continue to increase IMO. But also, I really like Clayton!! It’s a super cute little town and really growing. I would not hesitate to buy a home there.
Lol love your videos
Glad you like them!!
Your points about the eastern suburbs having less downtown development than the western ones is definitely logical. I'm also very curious to hear what you have to say about Wake Forest being an outlier.
It definitely doesn’t fit into the other boxes! Glad you enjoyed it and I’ll be talking more about it in a future video!
Very nice video. But what about NE Raleigh? You said nothing about it, but NE Raleigh is growing very fast.
I didn’t mention it because this was a video about the suburbs. But I would say that northeast raleigh is very similar to the eastern suburbs.
I hope 🤞 you get the house you want and it would be awesome of you can later share your fixer upper videos\ pics \ transformation with us all here 🙂 I have lived in the triangle for a decade now and you have shared all good information !!
I will share an update in the next video!!
great video,, i am looking to rent for 2000 a month or rent a home as well, 2-3 bedroom as well. but, not a home which is connected
Great honest job
Glad you enjoyed it!
Good luck with the bid on the house!
Thank you so much!! I have news but I’ll hold it until the next video! 😂
Any predictions on the RTP housing prices now that the interest rates are going up?
We have an interesting dynamic here because our luxury housing is rising in price much faster than the median priced home. So I think that will mean that rising interest rates won’t affect us as much as some other places. We are attracting higher net worth and higher income people to this area. They won’t be priced out by a percentage point or two. That will mainly affect entry level buyers who are already struggling in this market.
In North Carolina because of the high amounts of cash needed to compete, those deposits have been more effective in pricing out buyers than rising rates. In other words, there are lots of people who can afford the payments but don’t have enough cash to compete.
Nobody knows for sure but it seems like properties over 500k will continue to be competitive. And I personally think there is so much housing demand that even if some people do get priced out on the lower end, it won’t be enough to make prices decrease. Maybe they will stop rising as quickly?
@@EllenPitts Thanks for that analysis!
You're welcome!!
LOL! I don't think I would like analyzing such broad data anyway. Every once in a while I tie in the national market to what's happening locally, but I don't find it as much fun. :)
Good luck with the home purchase Ellen!
Thanks so much!!!
Been in the triangle area since 1968 (as a wee child) and interested/investing in real estate all of my adult life. Love the videos - just came by since Kristina Smallhorn dropped your name :) I too love Fuquay-Varina and think it is poised for a great surge.
With the current insane prices, also curious about your thoughts on searching for more affordable housing in Clayton, Angier, Willow Spring, Four Oaks... even Smithfield/Selma and Lillington.
One correction: czcams.com/video/5r6SV8k94uk/video.html
The 3rd area circled is Johnston, not Harnett, although both are places to find larger lots in the country. Harnett is just southwest of that 3rd circle.
Kristina is my favorite! Thanks for stopping by!
I think those are all great places are good locations for finding more affordable housing. I would definitely add Sanford to your list. Some food development happening out that way. I look for places that are attracting their own industry so they don't have to depend on the economy of Raleigh. Biotechnology is the fastest growing employment sector in NC and Sanford is taking advantage of that. wraltechwire.com/2021/04/14/new-plant-in-sanford-means-more-biomanufacturing-jobs-coming-to-nc/
And thanks for the heads up on the mapping. I'll have to start withholding snacks from the editor. :-)
More density housing because they can build more and make more money. 4 townhomes vs one single family unit... no brainer
So why does anyone build single family housing?
@@EllenPitts That's a good question. Though I feel land prices were much cheaper and growth wasn't to the point where we can support more dense housing like we can now. There was growth the last 10-15 years but mostly in single family housing as land was plentiful and builders can make good profit. Now I feel they can make more with townhomes jam packed in and make them in a more affordable cost range 300k - 500k. Single family units seems to be 800k+ and many going for 1 million+. Not everyone can afford that. There are new build single family homes but further and further out. I live in West Cary and there are townhouse projects but fewer and fewer single family units as land is more and more scarce.
I think I’m just very understanding of the builders. They MUST make a profit or they don’t have money to fund the next project. If they lose money, we lose housing and people go homeless. So many builders went out of business in the last crash. I feel like builders get a bad rap but they work so incredibly hard and take such big risks. I appreciate what they do!
@@EllenPitts Absolutely! I'm not saying builders are bad. Everyone has to make a living and the tight labor market and supply chain issues makes it difficult without raising prices. Once you keep raising prices, people don't like it. I would say most are honest, but it's the few that ruin it for the rest. Those horror stories of builders taking deposit money and raising prices then going to buyers that will pay more are pretty terrible.
Yes that is a horrible thing to do!
I’d be interested in the more affordable extra outlier areas surrounding outlier Wake Forest. Maybe don’t quite need a full acre but 1/2 acre would be nice.
Read in the comments....I also follow Kristina Smallhorn. Lol.
Kristina’s a good friend of mine! 😃 I’m glad to help with your search around Wake Forest. Feel free to send me an email to schedule a time to talk! Ellen.pitts@hunterrowe.com
@@EllenPitts Thanks! Lol. Yeah I’d prob say I’m not an “avid” follower so much but I like her and I share her sentiments about tiny homes (but right now just not all that practical or widely available with where they’re allowed). My adult son is in Raleigh so that’s one giant reason I want to be near Raleigh. Although I have to say NC is very appealing all on its own to me. Such great variety and central to the whole Eastern board (sure beats when he was in NJ next to NYC ha ha). But anyways, love WF but it’s not in my budget. My main goal prob by now is something like within an hour of my kid and a short drive from a town/burb with decent amenities. Might hit you up closer to my next visit. Seriously considering a cabin builder and buying land, as I want more like “small cottage.” I guess next year I’d qualify for the 55 plus thing but I need a wee bit of land for the “farm” animals (cats). Lol. Pet friendly without a ton of animal restrictions. Never liked formal subdivisions anyways. Lol. I actually prefer a smaller home Bcuz I’m really digging minimalism and I don’t want all that extra sq footage to have to tend to, clean, etc. Also don’t want to quite be out there in timbucktwo feeling all isolated from a town pulse. 😅😅
Well that got long but I’m def on my way. Just a matter of logistics and affordability for me now. I want some place where zoning will let me go quite small (maybe something like 650-900 sq ft) but where I have my very own plot. My current location...burbs of Atlanta GA. Lol. If that is within your parameters, I’ll get in touch! (Aka affordable land for a small modular and also open to the fluke deals with existing smaller homes if the price makes more sense than “affordable new” such as good bones with need of a little face lift). 😊
What kind of an effect do you think the biotechnology businesses opening in Holly Springs will have?
That’s a FANTASTIC question! I’m working on a video called “Is Fuquay the Next Cary?” And I will address it there!!
did you say covid is just another bug you catch in the winter time? maybe i misheard.
I don't remember my exact words, but I meant the time when Covid moves from Pandemic to Endemic. Here is a description of what that looks like: www.npr.org/sections/goatsandsoda/2022/03/11/1085839027/coronavirus-faq-what-does-endemic-mean-and-are-we-there-yet