I love that windy wooded section of Lake Boone Trail. To me that is the essence of west Raleigh. I turned my head to look at the homes as I went by, and saw a bulldozer standing there like a dinosaur over a pile of rubble. I wrote down the house number so I could check which one we lost, and found it was this one. I can't exactly say this was a small house in need of being removed from the face of the earth.
When the new house arrives, we will have a better idea of the redeveloped vision for this part of Budleigh. I have a bad feeling that the price may be over a million since the house that was torn down was bought in March for $475,000.
There are 2 other houses in the same general area that have sold for over $1.2 million this year (Nottingham and wider Lake Boone Trail). The rest of the sales are in the $400-500K range. So the established value in that area is around $500,000, which is compatible with other older comfortable neighborhoods.
So my question is this: Does having a teardown arrive on your street make your area vulnerable to more of the same? Or will it stay an isolated phenomenon?
To answer that question, I suggest a ride down Yarmouth, or Churchill.