July 30th, 2013 9:30 AM by Andrew Walter May
Raleigh is one of the best places to live in North Carolina. There are plenty of neighboring cities around Raleigh that have lower crime rates, greater scenery, better public school systems, and city cultures that are very similar to Raleigh (and a few that do not). Andy May, mortgage expert, prepares this analyses with a strong bent on data.
Before picking the neighborhood, home buyers should look into the city they want to live first. CNN Money awarded Chapel Hill and Raleigh as two of the top 100 cities to live in 2012 (Chapel Hill ranked 10, Raleigh ranked 55). Both of these cities are part of “The Triangle,” ie: the Raleigh-Durham-Chapel Hill area. The Triangle is home to numerous high-tech companies and three tier-one colleges (Duke University, UNC Chapel Hill, and NC State). Home prices have been steadily increasing since the housing bubble burst. The Raleigh-Durham-Chapel Hill area is the best place to live in North Carolina - which recently itself fell to number 12 from number 6 as a top state to live.
Home buyers should be aware of certain areas in The Triangle. Durham and Southeast Raleigh have lower income averages and correlated issues. Traffic is roughly the same for most areas around Raleigh. Road widening work has occurred on Falls of Neuse - opening a long needed artery from Falls Point to Wakefield (with lots of bike trails).
Most areas in North Carolina are growing (population growth of about 4.5% per year and home price growth year over year of 4.4%). However, Cary and North Raleigh have higher appreciation rates for real estate then outlying areas where land is abundant and builders are ever-ready to throw up another 1000 homes here or there.
The best way to test out a city is to visit the city. Go to the grocery stores, restaurants, malls, movie theatres, and shops. These are the people in the community that will be shopping and living in the neighborhood.
Andy May and Brett Bushnell, Realtor for Prime One Realty, 919-608-2141, recommend the following neighborhoods (call for a more complete list). Neighborhoods were calculated using the ADRMortgage.comformula which compiled family count, median home value, distance to Raleigh or Chapel Hill, crime rates, and home appreciation rates.
1) Country Club Hills (Raleigh, NC) – Homes at the Country Club Hills have a feeling of privacy. Homes are tucked away in tree-lined streets. Streets wind around the golf course and lake. Homes date back to the 1950’s when government workers built tiny ranch homes. However, the median age of homes were built in the the last 20 years. Homes in Country Club Hills ranges from $400K (2000 square feet) to $2.5M (3,500 to 5,000 square feet). 2) Sheffield Estates (Raleigh, NC) – Wilkerson Nature Preserve Park is home to several biking and walking trails. Sheffield Estates sits next door to the park. It offers large, estate style lots and beautiful trees and is only a minute away from Wake Med North. Prices range from $670,000 to $1,525,000. A recently added French Shopping Center (parisian stores and architecture) along with the Irish Pub (Hibernian) make Sheffield Estates an ideal location for value oriented shoppers that don't want the "inside the beltline" feel and attitude. 3) Cameron Park (Raleigh, NC) – Cameron Park is a popular neighborhood with a shopping plaza, Cameron Village Shopping Center, next-door. The plaza is home to many restaurants, one-of-a-kind shops, and cafes. Cameron Park prices range from $200k to $800k. A great value location for inside the beltline home buyers that aren't as interested in street location as they are value. 4) Prestonwood Country Club (Cary, NC) – Prestonwood Country Club is a private country club located near RTP and RDU. The country club includes 54 holes of golf, nine tennis courts, and a full service fitness and aquatic center. Prices range from $400K - $1.2M. 5) Greenwood (Chapel Hill, NC) – Bordered by 15-501 and highway 54, Greenwood is down the hill from the University of North Carolina at Chapel Hill. Famous playwright, Paul Green, developed the neighborhood in the 1930’s with home for artist and intellectuals. Home prices vary from $300K to $800K.
Each of the neighborhoods provide abundant statistical data that are a must-have for would-be buyers. A Realtor should easily access this information, or one can contact Brett Bushnell, Realtor, for more information at 919-608-2141. Many Realtors like to sell in the same neighborhoods, so make sure homework is done on the Realtor's footprint - or this could limit opportunities to find the neighborhood that fits.
Paul Imura, a homeowner in Cary (also a adrmortgage.com client), with two sons that are at UNC Chapel Hill stated, "the Cary School system provided a remarkable environment for my children to perform well in both scholastics and athletics."
Get the most value out of a home sale or purchase by working with licensed professionals that have significant experience. ADRMortgage.com was founded by Andy May in 2005. For additional information please go tohttp://www.adrmortgage.com or contact Andy May directly. License number 103418.