What’s History Worth?

You know, one of the things I like best about living in North Carolina is the fact that it is rich in the history of our country. One of the original thirteen colonies, and by some accounts, a declarer of it’s independence from the King of England well before the rest of the country, North Carolina has plenty of places where you can see historic markers telling of this English general who defeated the militia in the revolutionary war battle of……., or that Civil war battle…etc.

Located about twenty miles north of Charlotte on Highway 115 you will find the Town of Davidson, home of Davidson College, founded in 1837, and named after Brigadier General William Lee Davidson, a revolutionary war commander.  A small town built up around the college, many of the homes were built at the beginning of the 1900’s, and are still standing along Main Street today. 

From a real estate perspective, these historic homes present an interesting challenge when trying to establish a fair price for resale. I recently toured a few of these charming old homes, and found that most have been renovated, yet still keep their warm and lived-in ambiance. Some are even on large lots, with mature gardens and trees you will never find in a new construction on nearby Lake Norman. So what does a real estate agent need to consider whn trying to price one of these beauties? Location, neighbors, lot size, quality of renovation, preservation of the original charm, as well as the usual considerations for number of baths, square footage, garage or no garage, and so on.

You would be surprised how much value the Davidson address adds to one of these homes, especially if the address also says, “Main St.” You can drive north six miles to Mooresville and find a 100 year old home for under $300,000, albeit lacking the extensive renovation. In downtown Davidson, get ready to spend $700,000 to $900,000. Is it worth it for the Davidson address? A lot of people seemed to have thought so. I say “thought so,” because when you investigate these homes, you find that most people have lived in them for thirty years or so. Granted, they didn’t pay that kind of money, but when they’re ready to sell, they will be greatly rewarded for their patience.

I guess it comes down to owning a piece of history, and for some, that’s worth a lot. It’s no different than the folks in Myers Park or the Dilworth area of South Charlotte, who pay a million dollars for a bungalow in a quarter acre built in the 1930’s. If you would like to explore the possibility of getting your own piece of American history, give me a call. I’ll give you a tour, and together we can find you a “Main St.” address.

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