Many of my clients, including first time buyers, downsize buyers, and investors, are finding buying opportunities in urban areas.
There has been a recent trend in today's market to become more 'urban" and less "suburban". With rising fuel costs, commuting has become less desirable and what was once a middle class migration to the suburbs, known as urban sprawl, has shifted in conscience as more people become aware of sustainability issues and prefer to work and live in close proximity.
Urban living has become more attractive as the revitalization of downtowns has gained resurgence in recent years. Older homes in established areas offer convenience to urban areas as well as character and charm that just can't be recreated in a new tract home. Newer live/work, loft apartments, and mixed use buildings have also become very popular in urban areas.
In our area, downtown Cary has made significant improvements and is currently looking into ways to further improve the downtown. Many homes in the historic district have been revived, including The Bliss Real Estate Group office, which is in a converted 1920's era home.
Downtown Durham has become a cultural hub with new restaurants and entertainment venues in a hip urban setting. Downtown Raleigh and surrounding neighborhoods continue to be in high demand, both for the historic homes as well as the modern loft spaces now available.
Even the smaller towns outlying the Triangle, such as Apex, Wake Forest and Chapel Hill, have started revitalization efforts to create a greater sense of community and draw in the urban sprawl.
As more people make the migration to urban areas and revitalization efforts continue to improve the infrastructure of these areas, it will become more attractive not only to the young and hip, but also for families and retirees.
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