Community Development Affects Downtown Raleigh Real Estate

By
Real Estate Agent with Exit Realty First Choice

Community Development Affects Downtown Raleigh Real Estate

5/13/2009 - Sarah Tingen         What do you think about this?

The City of Raleigh is "aquiring" rental homes downtown through a City Owned Housing program and is subsidizing rental rates!

  The rates for the housing are averaging around $350-$500.

The City has an inventory of 170 homes and continues to ensure that reduced rent and "forgivable loans" will be available downtown.

Some questions to consider are:

  • Will this affect property values?
  • Will the scarcity of purchasable housing make rents go up and house values appreciate?
  • Will the presense of low income tenants promote crime?
  • Will there be a lack of "homeownership pride" and therefore neighborhood deterioration?
  • Will the community revitalization promote faster downtown growth?

If you make less than $26,200 (average Realtor® salary is 25k), you can get a newly renovated home downtown for below average rent!

   Where do I sign up????????!!!!!!!!!

North Raleigh real estate, Sarah Tingen, Realtor®, e-Pro

Single & multi-family cash-flow investment specialist. My areas of expertise lie within the NC state, North Raleigh, Wake Forest, and downtown Raleigh areas. A Delta Ridge, South Park, Chadwick and Brier Creek neighborhood expert. Raleigh Exit, Exit Realty (919) 441-2837.

 

 

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