The Roanoker knows who to call for the last word
About two months ago I received a call from Deanna Stephens of The Roanoker magazine wanting to interview me for an upcoming real estate story. She had found my real estate blog while searching for real estate information on the Roanoke Valley. This was a very well thought out and researched article with lots of good information. If you don’t have the June 2007 issue you need to go out and get it. I was quoted three times and this real estate blog (with web address) was mentioned in the story. Thanks to Deanna and The Roanoker!
A few select quotes and my response and comments-
My quote about suburban land development-
“There’s a high demand for land – it’s at a premium”, he says. “This is an area [Bonsack and parts of Southwest County] previously unconsidered because of the terrain. Fifteen years ago it would have been undesirable.”
Bill Hart of J.M. Turner Homes had a different but not unharmonious take on it-
“As population increases, property closest to the city is in high demand,” he says, adding that geology and terrain have never been a deterrent. “People start to spread out as they look for cheaper land. It’s just a matter of supply and demand.”
While I agree with Bill on supply and demand, which is very close to what I was asserting with the idea that the best land is taken first, I have to disagree that geology and terrain have never been a deterrent. If geology and terrain were not a deterrent then that horrible hill (among many other places in the Valley) just across from the Tanglewood Mall exit on US-220 would have been developed long ago because of it’s great location. However, the terrain long delayed its development and even now there’s not much going on there due to the very steep terrain.
On second home purchases in South Roanoke and Old Southwest Roanoke-
[Marty] Martin cites the older neighborhoods in South Roanoke and Southwest as often the target of this demographic [Babyboomers]. “People who buy in [these neighborhoods] are not first time buyers, they’re more established”, he says.
And of course, the last word-
As time unfolds to continue the story of Roanoke Valley’s housing market, residents will observe increased suburban growth that will keep choices diverse and widespread. Renovations within [Roanoke] will also keep its housing competitive.
“Look at the upturn in downtown Roanoke,” Martin says. “The Candy Factory on Salem Avenue is being converted to condos and there’s the Campbell Garage Lofts. I wouldn’t consider that major growth, but it’s certainly worth mentioning.”
There’s a lot of other stuff in this article on Roanoke real estate I’ll blog more on soon. Richard Wells had a great block on taxes in tax assessments in Roanoke, Salem and Roanoke County I’ll talk on next.
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