Southern Village Real Estate

A stunning view of the pond!

2006-01-23T19:23:00.000-05:00

837541 Active Residential LP: $959,000
212 Glenhaven Drive City: Chapel Hill
Media: 10 V 1 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 2003
Subd: Southern Village List Type: ER

Remarks : Beautiful home in prestigious Southern Village; HW throughout main & upper levels, finished lower level w/guest BR & full bath. Granite countertops within the gourmet kitchen. Screened decks off LR & MBR provide a stunning view of the pond and Southern Village. 2nd scr. porch, 21x12S.

Rooms / SqFt Information
Living Area Above Grade: 3550 Below Grade: 880 Total: 4430
Other Area Above Grade: 1350 Below Grade: 330 Total: 1680
# Rooms: 14 Beds: 5 Full Baths: 4 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: / Master BR: 16x16 / Second Garage: 23x24 / Main
Living: 22x20 / Main Bedroom 2: 13x12 / Second Carport: /
Dining: 13x14 / Main Bedroom 3: 13.5x13 / Second Storage: 20x20 / Basement
Family: 13.5x12 / Main Bedroom 4: 12x10 / Second Porch: 7x37 / Main
Office/Study: / Bedroom 5: 14x14 / Basement Patio: /
Kitchen: 13.5x14.5 / Main Utility: 10x6 / Main Deck: 21x16 / Second
Breakfast: 13.5x14 / Main Bonus: 22x21 / Second Scrnd Porch: 21x12 / Main
Storage / 12x20 / Basement Storage / 13x26 / Basement

General Information
Lot Dim: 70x170x161x160 Lot #: Appx Acres: 0.41
Foundation: Bsmt Zoning: In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Melville Restrictive Covenants: Yes
HO Assoc. Mgmt: HRW
HOA Phone: 783-9530 HOA Fax: Total HOA Dues: $245/Annually

Grand entrance, with double front porches.

2006-01-23T19:22:00.000-05:00

830028 Active Residential LP: $574,000
209 Edgewater Circle City: Chapel Hill
Media: 8 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 1997
Subd: Southern Village List Type: LS

Remarks : This home features a grand entrance, with double front porches. There are many nice features in this home; builtins on the first and second floors, bay window and wainscoating in the formal dining room. The kitchen is a cooks dream, featuring granite countertops, marble tile backsplash,a Viking 4-burner gas stove.The back yard is private with a screened in backporch. Welcome Home!

Rooms / SqFt Information
Living Area Above Grade: 3077 Below Grade: Total: 3077
Other Area Above Grade: 0 Below Grade: Total: 0
# Rooms: 13 Beds: 4 Full Baths: 3 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: 7.7x7.5 / Main Master BR: 14.2x14.5 / Second Garage: 22.0x22.0 / Main
Living: 11.0x14.3 / Main Bedroom 2: 11.0x11.5 / Second Carport: /
Dining: 11.7x13.2 / Main Bedroom 3: 12.0x10.0 / Second Storage: /
Family: 14.0x17.3 / Main Bedroom 4: 17.7x10.0 / Third Porch: 6.0x20.7 / Main
Office/Study: 12.0x8.0 / Third Bedroom 5: / Patio: /
Kitchen: 13.7x12.0 / Main Utility: 6.0x7.0 / Second Deck: /
Breakfast: 14.5x8.7 / Main Bonus: 19.0x16.2 / Second Scrnd Porch: 12.0x14.5 / Main 8.0x9.0 / 6.0x20.7 / Second

General Information
Lot Dim: to be det by appraisal Lot #: Appx Acres: 0.2
Foundation: Blk/BV Zoning: Res In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Restrictive Covenants: Yes
HO Assoc. Mgmt: South Village HOA
HOA Phone: 919-968-3660 HOA Fax: Total HOA Dues: $225/Annually

Traditional southern front porch

2006-01-23T19:21:00.000-05:00

842489 Active Residential LP: $465,000
208 Parkside Circle City: Chapel Hill
Media: 10 V 1 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 1995
Subd: Southern Village List Type: ER

Remarks : Southern Village.Traditional southern front porch.Unique & light filled all brick home.Playful spiral staircase accesses 2nd flr BR & study.Vaulted ceiling in FR.Abundant windows & skylights.First flr includes large master suite that opens to deck.Living room on 1st flr can also be used as study.Bonus room over garage.Lush landscaping w/meandering paths.

Rooms / SqFt Information
Living Area Above Grade: 2949 Below Grade: Total: 2949
Other Area Above Grade: 0 Below Grade: Total: 0
# Rooms: 9 Beds: 3 Full Baths: 3 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: 10.8x11.3 / Main Master BR: 15.4x13.1 / Main Garage: 22.8x20.8 / Main
Living: 16.3x11.0 / Main Bedroom 2: 12.0x11.0 / Main Carport: /
Dining: 14.0x14.0 / Main Bedroom 3: 16.2x10.8 / Second Storage: /
Family: 26.0x13.0 / Main Bedroom 4: / Porch: 7.1x45.6 / Main
Office/Study: 13.2x13.1 / Second Bedroom 5: / Patio: /
Kitchen: 16.3x10.0 / Main Utility: 6.7x2.7 / Main Deck: 11.6x13.2 / Main
Breakfast: / Bonus: 15.5x11.2 / Second Scrnd Porch: /

General Information
Lot Dim: 0 Lot #: Appx Acres: 0.22
Foundation: Crawl Zoning: Res In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Restrictive Covenants: Yes
HO Assoc. Mgmt: HRW
HOA Phone: 783-9530 HOA Fax: 783-9534 Total HOA Dues: $277/Annually

Lots of light and views!

2006-01-23T19:20:00.000-05:00

839418 Active Residential LP: $354,900
108 Westgreen City: Chapel Hill
Media: 6 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 1996
Subd: Southern Village List Type: ER

Remarks : Lots of light and views from this beautiful home across the street from Arlen Park. Master has garden tub and shower. Daylight basement with entrance is partially finished, plumbed and divided into rooms. Open, spacious kitchen. FANTASTIC location for price appreciation! Vacant and easy to see.

Rooms / SqFt Information
Living Area Above Grade: 1550 Below Grade: Total: 1550
Other Area Above Grade: 272 Below Grade: 750 Total: 1022
# Rooms: 7 Beds: 3 Full Baths: 2 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: / Master BR: / Garage: /
Living: / Bedroom 2: / Carport: /
Dining: / Bedroom 3: / Storage: /
Family: / Bedroom 4: / Porch: /
Office/Study: / Bedroom 5: / Patio: /
Kitchen: / Utility: / Deck: /
Breakfast: / Bonus: / Scrnd Porch: /

General Information
Lot Dim: 0 Lot #: Appx Acres: 0
Foundation: Zoning: In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Restrictive Covenants: Yes
HO Assoc. Mgmt:
HOA Phone: HOA Fax: Total HOA Dues: $1,175/Annually

Southern Village townhome with freshly painted exterior.

2006-01-23T19:19:00.000-05:00

825968 Active Residential LP: $269,900
914 Highgrove Drive City: Chapel Hill
Media: 1 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 2000
Subd: Southern Village List Type: ER

Remarks : In addition to the $93/mo HOA dues, there is a $245/yr master association fee. Southern Village townhome with freshly painted exterior. Open floorplan with hardwoods throughout the main level and 9' ceilings. Totally fenced patio area in back. Fans in all bedrooms.

Rooms / SqFt Information
Living Area Above Grade: 1330 Below Grade: Total: 1330
Other Area Above Grade: 0 Below Grade: Total: 0
# Rooms: 6 Beds: 3 Full Baths: 2 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: 6.9x4.4 / Main Master BR: 12.4x12 / Second Garage: 11.6x19.4 / Main
Living: 14x17 / Main Bedroom 2: 9x10 / Second Carport: /
Dining: 8.7x9 / Main Bedroom 3: 10x10 / Second Storage: /
Family: / Bedroom 4: / Porch: /
Office/Study: / Bedroom 5: / Patio: /
Kitchen: 9x8 / Main Utility: / Deck: /
Breakfast: 6.5x7.5 / Main Bonus: / Scrnd Porch: /

General Information
Lot Dim: 21x102x21x108 Lot #: 546 Appx Acres: 0
Foundation: Slab Zoning: R-1 In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Restrictive Covenants: Yes
HO Assoc. Mgmt: HRW
HOA Phone: 968-3660 HOA Fax: Total HOA Dues: $93/Monthly

Adorable corner unit condo w/views overlooking pond

2006-01-23T19:18:00.000-05:00

833744 Active Residential LP: $160,000
522101 Aberdeen Drive City: Chapel Hill
Media: 10 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 2000
Subd: Southern Village List Type: ER

Remarks : Adorable corner unit condo w/views overlooking pond. Smooth 9' ceilings, crown molding. Washer/dryer, refrigerator. Porch. Close to bike paths & Market Street shops, restaurant, gym & movie theatre. Only 2 miles from UNC & downtown Chapel Hill. Optional membership to neighborhood swim/tennis club.

Rooms / SqFt Information
Living Area Above Grade: 766 Below Grade: Total: 766
Other Area Above Grade: 0 Below Grade: Total: 0
# Rooms: 4 Beds: 1 Full Baths: 1 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: 4.3x4.0 / Main Master BR: 13.1x14.5 / Main Garage: /
Living: 12.5x16.1 / Main Bedroom 2: / Carport: /
Dining: 8.8x9.0 / Main Bedroom 3: / Storage: /
Family: / Bedroom 4: / Porch: 11.0x8.0 / Main
Office/Study: / Bedroom 5: / Patio: /
Kitchen: 8.4x10.0 / Main Utility: / Deck: /
Breakfast: / Bonus: / Scrnd Porch: /

General Information
Lot Dim: 0 Lot #: Appx Acres: 0
Foundation: Crawl Zoning: Res In City: Yes
New Construction: No Est Fin Date: /
Builders Name: White Oak Properties Restrictive Covenants: Yes
HO Assoc. Mgmt: D. Weatherbee
HOA Phone: 286-1215 HOA Fax: Total HOA Dues: $138/Monthly

Immaculate condition in popular Southern Village.

2006-01-23T19:17:00.000-05:00

829335 Active Residential LP: $160,000
524101 Aberdeen City: Chapel Hill
Media: 6 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 2000
Subd: Southern Village List Type: ER

Remarks : Immaculate condition in popular Southern Village. Vinyl tile floors. Berber carpeting. Covered porch with ceiling fan. Woods and bikepath. Walk to shopping/restaurants. Washer, Dryer & Refrigerator convey.

Rooms / SqFt Information
Living Area Above Grade: 739 Below Grade: 0 Total: 739
Other Area Above Grade: 0 Below Grade: 0 Total: 0
# Rooms: 6 Beds: 1 Full Baths: 1 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: 4.3x4.2 / Main Master BR: 13.2x14.5 / Main Garage: /
Living: 16.0x12.4 / Main Bedroom 2: / Carport: /
Dining: 11.4x8.11 / Main Bedroom 3: / Storage: /
Family: / Bedroom 4: / Porch: 8X9.2 / Main
Office/Study: / Bedroom 5: / Patio: /
Kitchen: 7.2x8.3 / Main Utility: / Deck: /
Breakfast: / Bonus: / Scrnd Porch: /
MasterBath / 11.4x5.5 / Main

General Information
Lot Dim: 0 Lot #: Appx Acres: 0
Foundation: Zoning: Res In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Restrictive Covenants: Yes
HO Assoc. Mgmt: HOA Works, Inc
HOA Phone: 286-1215 HOA Fax: Total HOA Dues: $126/Monthly

Pristine and neutral condominium in Southern Village!

2006-01-23T18:02:00.000-05:00

842255 Active Residential LP: $155,900
703205 Copperline Dr. City: Chapel Hill
Media: 4 Area/Sub: 206/N/A Zip : 27516 Yr Blt: 1998
Subd: Southern Village List Type: ER

Remarks : Pristine and neutral condominium in Southern Village! Bright white kitchen features bar overlooking living room with french doors and transom windows. Large patio is perfect for entertaining. Master bedroom features private bath and ceiling fan. Walk to restaurants, movies and shopping.

Rooms / SqFt Information
Living Area Above Grade: 657 Below Grade: 0 Total: 657
Other Area Above Grade: 0 Below Grade: 0 Total: 0
# Rooms: 3 Beds: 1 Full Baths: 1 Half Baths: 1
Living Area-Room Dim/Levels Other Area-Room Dim/Levels
Entry Hall: / Master BR: 11x8 / Main Garage: /
Living: 17.9x13.8 / Main Bedroom 2: / Carport: /
Dining: / Bedroom 3: / Storage: /
Family: / Bedroom 4: / Porch: 11x8 / Main
Office/Study: / Bedroom 5: / Patio: /
Kitchen: 8x10.8 / Main Utility: / Deck: /
Breakfast: / Bonus: / Scrnd Porch: /

General Information
Lot Dim: 0 Lot #: Appx Acres: 0
Foundation: Zoning: Res In City: Yes
New Construction: No Est Fin Date: /
Builders Name: Restrictive Covenants: Yes
HO Assoc. Mgmt: CAS
HOA Phone: 933-7144 HOA Fax: Total HOA Dues: $126/Monthly

112 Westgreen - $319,000

2005-03-05T21:26:00.000-05:00

I haven't gone to see this one yet, but here's what the listing agent says: "NO SHOWINGS UNTIL 3/08/05. Beautiful brick Townhome overlooking Arlen Park.Upgrades throughout. Living room with fireplace and builtins. Sunroom off kitchen and deck great for sunsets.Master witn trey ceiling,garden tub and shower. Basement has finished room. Newly painted and carpeted. All appliances convey. Includes home warranty." 1804 Square Feet, 3 bedrooms and 2.5 bathrooms. This townhome is an easy walk to Market Street in downtown Southern Village.

Per Square Foot

2005-03-02T07:57:00.000-05:00

Prices per square foot can be very deceptive because location is often more important than size. Still judging a property on its price per square foot is important. I took a look at the last 6 months of transactions on the MLS and here is what I found:

Condos seem to fall into two categories: Those on Market Street and those not. Market Street condos traded at over $200 per square foot

702101 Copperline Drive 1289 sq ft 2 beds 2 full baths and 0 half baths condo $205,000 $159.04 per sq ft
520 Aberdeen #201 910 sq ft 1 beds 1 full baths and 1 half bath condo $149,900 $164.73 per sq ft
523 Copperline Drive 1280 sq ft 2 beds 2 full baths and 1 half bath condo $222,500 $173.83 per sq ft
604103 Copperline Drive 1350 sq ft 3 beds 2 full baths and 0 half baths condo $245,000 $181.48 per sq ft
500203 Market Street 906 sq ft 1 beds 1 full baths and 1 half bath condo $190,000 $209.71 per sq ft
500 Market Street #303 880 sq ft 1 beds 1 full baths and 1 half bath condo $185,000 $210.23 per sq ft

Among townhouses, a similar pattern emerges. Highgrove townhouses seem to be worth about $180 per square foot, while others are valued at more like $130.

904 Highgrove Drive 1150 sq ft 2 beds 2 full baths and 1 half bath townhouse $206,000 $179.13 per sq ft
1008 HIGHGROVE 1148 sq ft 2 beds 2 full baths and 1 half bath townhouse $208,500 $181.62 per sq ft
118 Westgreen 2450 sq ft 4 beds 3 full baths and 1 half bath townhouse $326,500 $133.27 per sq ft
302 EDGEWATER CIRCLE 3247 sq ft 3 beds 3 full baths and 1 half bath townhouse $425,000 $130.89 per sq ft

Houses definitely vary a good deal on price per square foot, but no clear pattern emerges:

403 Brookgreen Drive 2935 sq ft 4 beds 3 full baths and 1 half bath house $408,000 $139.01 per sq ft
210 Glade Street 3353 sq ft 5 beds 3 full baths and 1 half bath house $482,500 $143.90 per sq ft
800 HIGHGROVE DRIVE 2860 sq ft 4 beds 3 full baths and 0 half baths house $430,000 $150.35 per sq ft
213 Overlake Drive 2792 sq ft 3 beds 2 full baths and 1 half bath house $430,000 $154.01 per sq ft
917 Edgewater Circle 2189 sq ft 3 beds 2 full baths and 1 half bath house $337,500 $154.18 per sq ft
100 Winston Ridge 2550 sq ft 4 beds 2 full baths and 1 half bath house $395,000 $154.90 per sq ft
126 Graylyn Drive 3936 sq ft 5 beds 4 full baths and 0 half baths house $610,000 $154.98 per sq ft
204 Arlen Park Drive 3191 sq ft 4 beds 3 full baths and 1 half bath house $500,000 $156.69 per sq ft
216 Edgewater Circle 2500 sq ft 4 beds 3 full baths and 0 half baths house $395,000 $158.00 per sq ft
205 Calderon Drive 2348 sq ft 3 beds 2 full baths and 1 half bath house $385,000 $163.97 per sq ft
305 Parkview Crescent 2651 sq ft 4 beds 3 full baths and 1 half bath house $444,000 $167.48 per sq ft
211 Glade Street 3295 sq ft 4 beds 3 full baths and 1 half bath house $559,000 $169.65 per sq ft
209 Edgewater Circle 3055 sq ft 4 beds 3 full baths and 1 half bath house $549,000 $179.71 per sq ft
109 Graylyn Drive 3384 sq ft 4 beds 3 full baths and 1 half bath house $668,500 $197.55 per sq ft
203 Glade Street 3000 sq ft 4 beds 3 full baths and 1 half bath house $605,000 $201.67 per sq ft
1307 Highgrove Drive 3580 sq ft 4 beds 4 full baths and 0 half baths house $725,000 $202.51 per sq ft
1301 Highgrove Drive 3540 sq ft 4 beds 4 full baths and 0 half baths house $750,000 $211.86 per sq ft

To me, I think the variation in price per square foot has more to do with the type of lot and the quality of finish of the house, than it does with size. Interesting.

Market Recap

2005-03-02T07:37:00.000-05:00

It's striking how the lower cost dwellings in Southern Village have disappeared from the market. Several Market Street and Copperline condominiums have gone under contract. Prices therefore start in the mid 200's. Here's the essence of it:

203 Brookgreen 1280 sq ft 2 beds 2 and 1/2 baths $242,000
204 Brookgreen Drive 1926 sq ft 3 beds 3 and 1/2 baths $314,900
516 Copperline Drive 1650 sq ft 3 beds 2 and 1/2 baths $319,900
102 Eastgreen Drive 2377 sq ft 3 beds 3 baths $379,000
104 Winston Ridge Drive 2527 sq ft 3 beds 2 and 1/2 baths $399,500
301 Westside Drive 2750 sq ft 4 beds 2 and 1/2 baths $450,000
505 Highgrove Drive 2934 sq ft 3 beds 2 and 1/2 baths $454,000
204 Overlake Drive 2554 sq ft 4 beds 2 and 2/2 baths $462,900

516 Copperline - $319,900

2005-02-22T08:31:00.000-05:00

This townhome is a very short walk to Market Street! It seems well worth visiting, but if it wasn't snapped up in the last 74 days that it has been on the market, then we have to conclude that it must be at least a little bit over-priced. The price has not changed since it came on the market in mid-December.

516 Copperline has three bedrooms, and two and a half baths. It measures out at 1,650 sqaure feet. That's just over $193 per square foot.

Give me a call if you would like to go see it. 919-636-0371.

The Big Picture

2005-02-21T08:25:00.000-05:00

The value of real estate is highly influenced by factors that are foreseeable. I often think about the investors who chose to build commercial buildings in downtown Durham, North Carolina, for example. A lot of those buildings were built in the 1920's.

At that time, Durham was a burgeoning commercial center. Building a new commercial building downtown must have seemed like a good idea. But in reality, urban problems worsened while cars allowed wealthier people to move to the suburbs and do their shopping there. Result: Lots of empty buildings in downtown Durham.

So what's that got to do with me? Well, the changes that automobiles caused in land-use patterns were eminently foreseeable. While many people didn't foresee the impact of the car on suburbanization, others did. Those that didn't foresee these changes built in areas that declined in relative value.

The declining supply of gasoline in the world is an obvious reality that will change land-use patterns in the United States again. Pedestrian and transit unfriendly locations are going to become less desirable as gasoline costs rise.

This is a reality that is foreseeable. Yet for some people it remains totally unforeseen. My conclusion: Invest in the more pedestrian and transit friendly future. That doesn't mean you have to live in Southern Village. But it does make Southern Village one of a couple of smart moves you can make in Chapel Hill.

Oh and one more thing: Downtown Durham is making a comeback partly for this same reason.

204 Overlake - $462,900

2005-02-20T08:17:00.000-05:00

This is a very traditional looking, bugalow-style home in a great location in Southern Village. At $462,900 for 2530 square feet, this home costs a lot per square foot, but it delivers. The home is built into a hillside and has a largely unfinished basement of an additional 865 square feet - and the basement has a half bath too boot.

Overlake Drive is a short walk from the Downtown Southern Village and is located near the entrance to Southern Village along 15-501, giving good access to the many other amenities in the Chapel Hill area. This house is definitely worth a look.

115 Graylyn - $892,500

2005-02-06T17:41:00.000-05:00

Now that's a spicy meatball! This house is positively majestic and has a kind of 'old money' quality to it that is seldom found in Chapel Hill. The house has many deluxe qualities, but they are usually understated. The old fashioned door hardware, the high (10 feet?) ceilings, the extra wide staircase - it all adds up to a lot of house.

This place also delivers on the square footage: 4,416! And the three car garage is also deluxe, but the surprising thing is that for all those square feet, you only get four bedrooms. Not that it needs more bedrooms, but it is just surprising to me that you can have over 4,000 square feet and only four bedrooms. It's because this house has a formal dining room, study, music room etc. etc. etc.

Chapel Hill doesn't have many homes in this price range, but I found this one convincing.

Who does the Realtor work for anyway?

2005-02-05T09:36:00.000-05:00

This is a critical question for any homebuyer in North Carolina. Anytime you talk to a real estate agent or broker, you should be careful to establish what your relationship is with him/her before you tell any sensitive information ("We could spend $500,000 but we don't really want to . . . ")

Real estate agents and brokers work in three different capacities:

Listing Agents work for the seller. They are trying to get the most money for the seller. You don't want to work with an agent who represents the seller only.

Buyer's Agents work for the buyer. They are trying to get the buyer the best deal possible - sometimes that means getting the house cheaply, othertimes it means getting it on the buyer's timetable. Regardless, as a Buyer's Agent my duty is to look out for your interests as a buyer. In any real estate deal, you want to have a Buyer's Agent.

Dual Agents work for both the buyer and the seller. I really don't like dual agency very much. Dual Agents are supposed to pretend that they do not know the buyer's secrets when they talk to the seller, and that they do not know the seller's secrets when they talk to the buyer. The whole thing smells fishy.

The best thing about having a Buyer's Agent is that it usually doesn't cost a dime! You see, when sellers list their property with a Realtor, the property is entered into the MLS. Sellers also enter into a contract with the Listing Agent, promising to pay him/her a commission. When the Realtor enters it into the MLS, s/he is offering to split that commission with a Buyer's Agent. If the buyer deals directly with the listing agent, then the commission goes entirely to the Listing Agent - either way it is the exact same amount. Dealing directly with the listing agent saves nothing on commission and only hurts the buyer's interest! So, why not get a Buyer's Agent?

PS I want to note that when I profile a property on this blog where I am the listing agent, I will always point out that fact. Generally, almost all properties profiled on this blog are represented by other agents. I am presenting them to you as a Buyer's Agent - so you can look for unflinching criticism of over-priced and bad-condition properties! I represent the Buyers!

203 Brookgreen - $242,000

2005-02-02T22:31:00.000-05:00

Someone just listed 203 Brookgreen for $242,000. Let's hear the listing agent's take on it:

"Southern Village townhome-style condominium. This great condo has two bedrooms and two baths, Fully equipped kitchen has 42' maple cabinetry. Loads of storage in bsmt. as well as tuck-under garage. Walk to SV shops & restaurants! Tenants require all showings on Sat. & Sun. 2-4pm with 24 hr. notice; they must remove dog. Thanks for your consideration of these limitations.
Living Area Above Grade: 1280 Below Grade: Total: 1280
Other Area Above Grade: 0 Below Grade: 586 Total: 586
# Rooms: 5 Beds: 2 Full Baths: 2 "

Wow, those are some pretty restrictive showing instructions. I'll let you know when I found some spare time between 2 and 4 on a Saturday or Sunday to go look at it. Sheesh . . .

101 Newell was just reduced!

2005-01-31T16:20:00.000-05:00

Sounds like the sellers are getting real about 101 Newell. The listing agent just gave us the heads up that they have reduced the asking price to $385,000. That's down $14,000 from what they were asking.

The good ones never last.

2005-01-31T08:48:00.000-05:00

Consequently, you have to hear about Southern Village properties as soon as they hit the market. Chapel Hill real estate generally and Southern Village real estate in particular sells very quickly if it is priced appropriately. Sometimes houses sell in just a day or two.

So, if you would like to receive email updates about properties as they come up for sale in Southern Village, just send me an email at mark_chilton@hotmail.com - this is a free, no obligation service. No spam. Just an email anytime a property comes on the market in Southern Village. You can even customize the price range and property type (condo, townhouse, or detached house).

So let me know if you want to be in the know.

The thing about realtor.com . . .

2005-01-30T08:27:00.000-05:00

is that you cannot search for properties for sale specifically within a single development. And that is annoying if you know that you are looking hard in Southern Village. So for those gentle readers that don't have access to the Triangle MLS, here are all of the properties for sale in Southern Village as of this moment:

700 #205 Market Street, 655 square ft, 1 beds, 1 baths, $179,000
702 #101 Copperline, 1283 square ft, 2 beds, 2 baths, $205,000
702 #202 Copperline, 1283 square ft, 2 beds, 2 baths, $210,000
500 #105 Market Street, 1054 square ft, 2 beds, 2 baths, $214,900
204 Brookgreen, 1926 square ft, 3 beds, 3 and 1/2 baths, $314,900
516 Copperline, 1650 square ft, 3 beds, 2 and 1/2 baths, $319,900
101 Newell, 2480 square ft, 4 beds, 2 and 1/2 baths, $399,000
505 Highgrove, 2934 square ft, 3 beds, 2 and 1/2 baths, $454,000

500 Market Street, 101 Newell Street and 505 Highgrove Drive are all profiled in more detail below. I will add profiles on some of the others shortly.

505 Highgrove Drive - $454,000

2005-01-29T07:21:00.000-05:00

At just a touch over $150 per square foot, 505 Highgrove is fairly appropriately priced for Southern Village. Situated at the quieter end of Southern Village, this house has a nice layout with the Master Bedroom on the ground floor and the other bedrooms on the second floor.

My only complaint: How (and why?) do you build a 2,934 square foot house and only wind up with three bedrooms?! The good news is that there is a considerable bonus room that could serve well as a guest bedroom, office or playroom. While we are at this topic, let me address a truly classic real estate question:

Question: What is the difference between a bonus room and a bedroom?

Answer: A bedroom has to have a closet. Appraisers make definitions like this so that all appraisers will be working from the same set of assumptions.

Anyway, back to 505 Highgrove. Highgrove Drive, if you don't know the street, is on the west end of Southern Village and this house sits a considerable distance back from the downtown area of Southern Village. That makes this area a little sleepier than some parts of Southern Village - and that could well be a good thing for some buyers. While it is a bit far to walk to Market Street from here, it would not be a bad walk at all to get to the Pool and Clubhouse at Southern Village - a good choice for the pool-loving buyer.

101 Newell - $399,000

2005-01-28T17:46:00.000-05:00

Newell Street is close to the heart of Southern Village. This house has four bedrooms - all on the second floor - which would make it a great home. The two and a half baths are nice as well. But the nicest single feature of 101 Newell is its proximity to one of Southern Village's pocket parks. A neighborhood playground is literally around the corner (with no streets to cross to get to it).

I also like the fact that the utility room is on the same floor as the bedrooms. Why, oh, why do builders put the laundry on one floor and the bedrooms on another? That guarantees that every load of laundry has to go up and down the stairs. Bad idea. Anyway, that's not a problem with 101 Newell.

But the market does not love this house for some reason. Or at least the market did not love it back when it was listed for $424,000 - which it was for months. Now that the price is a little more down to earth at $399,000, I think it is worthy of consideration.

500 Market St #105 - $214,900

2005-01-27T16:40:00.000-05:00

Five Hundred Market Street is a great building and very convenient walking distance to Southern Village's downtown. Of course with two bedrooms and two baths, the building is best suited to individuals and couples, but for that crowd it's great. Walk one block to the movies, the coffee shop, two blocks to the bookstore or Weaver Street Market's Southern Village location.

Unit 105 is cheery and light and I was impressed with it. It's nice to be on the ground floor rather than up an elevator; and because the building is built into a hill side, the back balcony is actually a floor up from street level, which adds to the security.

As with some other condos in Southern Village, I think the place would be nicer with a few improvements in the finishes. More hardwood flooring would be welcome in my view, but that can always be added.

In terms of price, a similar unit sold in 2004 for $210,000, so the $214,900 asking price does not seem far out of line, but personally I think it would be worth making an offer to see what happens.