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Why is it that a tiny 2-bedroom house in Wake Forest on 5 acres is listed at 305k? I can't even find any market comps that would justify it, heck, there's a house of comparable size in North Raleigh on 3+ acres and they're only asking $265k!
Why is so hard to find a house in Wake Forest or Rolesville with at least 2000 s.f. on an acre for under 300k? I just don't understand how people are coming up with their market value in WF, it seems so off to me.
So maybe we're being picky, but with the current market conditions we feel that we should be able to find what we're looking for. Does anyone know of any nice properties in Wake Forest with some land for under $300,000? We are looking for something that is a little different that all of the cookie-cutter houses in tightly packed neighborhoods all over town.
Do you have a realtor helping you? There should be a fairly large selection in that price range. Youngsville is near Wake Forest and you would be able to get more house and land for your $.
IMO its as simple as the market set she price whether its Wake Forest or Topeka Kansas. Its difficult to find an acre of land in Wake Forest proper. If you search the Wake forest Zip Code 27587 you will find a lot of 0.75 Acre lots and a house on it that are typically greater then 2000 Sq. Ft. Being the land tends to be higher priced people tend to put bigger more expensive homes on them. That helps drive the cost of older resale homes in that area higher.
I sense a bit of frustration in your note. Keep looking I'm sure there is something out there in your price range and requirements.
I did do a search on Zip 27587 for all homes between $200k - $300k and came up with 208 homes. I'm sure only a few would have at least an Acre of land with them. However, there was a variety of homes shown that looked like pastry bakers homes and not just cookie cutter pop-em out quickly type varieties!
Why is it that a tiny 2-bedroom house in Wake Forest on 5 acres is listed at 305k? I can't even find any market comps that would justify it, heck, there's a house of comparable size in North Raleigh on 3+ acres and they're only asking $265k!
Why is so hard to find a house in Wake Forest or Rolesville with at least 2000 s.f. on an acre for under 300k? I just don't understand how people are coming up with their market value in WF, it seems so off to me.
So maybe we're being picky, but with the current market conditions we feel that we should be able to find what we're looking for. Does anyone know of any nice properties in Wake Forest with some land for under $300,000? We are looking for something that is a little different that all of the cookie-cutter houses in tightly packed neighborhoods all over town.
My guess is because of the amount of land, that particular property is currently assessed about 50k over their asking price (based on what I looked up), so maybe they are trying to make some money! Some neighborhoods I would look into are:
whippoorwill valley
new light hills
neuse banks
derby downs
holly forest
tarlton park
heather grove
Most of these are older neighborhoods and they tend to have more interesting homes, less feeling of being a new subdivision (meaning there are lots of trees, larger lots, etc.).
Thanks for your reply, Leigh. I completely agree with you that this particular house (on Rolesville Rd) seems to be overpriced by about $50k. I wonder if they're expecting people to come look at that house with it listed at that price. I don't think I'd feel right going to look at it and then lowballing them by $50k less than their asking price.
Thanks for your reply, Leigh. I completely agree with you that this particular house (on Rolesville Rd) seems to be overpriced by about $50k. I wonder if they're expecting people to come look at that house with it listed at that price. I don't think I'd feel right going to look at it and then lowballing them by $50k less than their asking price.
I agree with you. If you have the time to be patient, I think more homes will come on the market in the next 6 weeks, plus, who know, maybe they will drop the price of the other house!
Maybe I’m biased since I live in Wake Forest but I suspect property here is priced high because of the desirability of the area. Not only is Wake Forest beautiful with excellent access to the Triangle and Raleigh proper but the 540 is free of tolls here (something that won’t be said for cities in the southwestern part of Raleigh). Remember the 3 cardinal rules of real-estate: location, location and location.
Why is so hard to find a house in Wake Forest or Rolesville with at least 2000 s.f. on an acre for under 300k? I just don't understand how people are coming up with their market value in WF, it seems so off to me.
I'm sure they are out there, but a house of that size, on that much land, in a nice area of Wake Forest, and for that price probably wouln't sit around long. Lots of people in the $300K price range would like to live in a house like you just described. I'm sure you will find what you are looking for this spring when more houses come on the market, but what you described is something I'm sure others are looking for as well.
I assume you're using realtor.com? We are seeking virtually the same specs in a home, and in Wake Forest too-except we are not 'on the ground' there yet (awaiting job transfers) but in our online research, we have found quite a few that meet your specs. In fact, we might come down soon to look in person.
If using the web, you might expand your search to homes with a half-acre or more. Then, homes with acerage, like .93, which is nearly an acre, show up. Might get more leads that way.
To mimic that famous statement made during the Clinton administration: "It's the land, stupid." At least, I think it was the Clinton administration.
As some of you may now know, I just concluded a successful three-year search to find a house in our price range, with land, in Durham. Said house sold in two days. That's what you're up against when it comes to land. I'm going to assume that land is just as precious in Wake Forest, perhaps moreso.
Houses deteriorate, we die, the land goes on.
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