North Wake Landfill Closing This Spring | Falls River Homeowners Hardly Knew It Was There
January 9th, 2008 Categories: North Raleigh
Falls River property values were never really affected by the presence of the massive North Wake Landfill. A testimony as to how careful neighborhood planning, and a modern landfill, make for a peaceful existence between such unlikely neighbors.
Falls River in North Raleigh has been an interesting kind of experiment for our market. It was one of the first neo-classic neighborhoods built on such a large scale in our area. It was also built right beside of a very large landfill. The landfill was there first, so the developers knew what they were getting involved in.
I’m sure that there were some potential home buyers who were turned off by the whole idea of living so close to the dump. However, several factors made it almost a non-issue.
First, you never could really smell any odor. The technology used made sure that there was no foul smell. Secondly, you could not see it from most of the neighborhood. There were a couple of distant views only in the fall when the trees lost their leaves.
My wife and I purchased a home in Falls River back in 1998 and sold it in 2006. We made a 52% profit on our original purchase and sold our home in 3 weeks! The landfill was, of course, still operational when we sold.
We loved the neighborhood and sometimes wish we were still there. The tree lined streets, the craftsman style of the homes, the large front porches, the parks… I could go on and on. And a very convenient location too!
Here is the average sell price for Falls River homes over the past 5 years
In 2007, 74 Falls River homes sold for an average of $292,982
In 2006, 81 Falls River homes sold for an average of $278,913
In 2005, 109 Falls River homes sold for an average of $265,237
In 2004, 95 Falls River homes sold for an average of $247,527
In 2003, 72 Falls River homes sold for an average of $238,698
If you are thinking of buying in a neighborhood like Falls River, you should call me as soon as possible. Just think what might happen when the landfill is turned into a huge public recreational facility in a couple of years. More on that later!
