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Cary, NC Real Estate News

By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
How to raise some cash for a couple of hard-working non-profits?  How to have fun doing it?  How to get a bunch of Realtors in the same room and not talk Real Estate?  What to do for a holiday party?The Cary, North Carolina office of Keller Williams Realty had chosen two local non-profits to support on an ongoing basis:1.  The Center for Volunteer Care-Giving provides services aimed at helping folks stay in their homes by offering support to them and their families.  These are warm, generous people who voluntarily give of their time to offer respite care, transportation for errands or medical care, and give Seniors a chance to stay in the comfort of independent living as long as possible.2.  April's Angels offers fantasy bedroom makeovers to chronically ill children.  Think about where ...
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By Kevin Martini
(DNJ / Gateway Mortgage)
LAST WEEK (1-1 to 1-5-2007)Fascinating things were going on behind the scenes on Thursday afternoon...here's what happened.Late last week, analysts reduced their estimate for Friday's Jobs Report number from 115,000 to 100,000...this clearly indicating much lowered expectations in new job growth. Their predication was based on ADP reported job loss for the previous month and the FED sharing it thought the employment market would be cooling.  That means ...when Bond traders saw the late change in analysts formal expectations, they gobbled up even more Bonds ahead of the Jobs Report - figuring that the number would likely come in low, Bond prices would rally, and home loan rates would improve. {WHEN BONDS GO UP...YIELD GOES DOWN...WHEN YIELD GOES DOWN...HOME LOAN RATES GO DOWN}But this wa...
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By Kevin Martini
(DNJ / Gateway Mortgage)
It's that time of year again...I am ready to lay out our thoughts and forecast for the year ahead.  They say "hindsight is 20/20", and looking back, I an quite proud of how my past predictions have held up, especially in terms of interest rates.  So crystal ball, Ouija board, and Tarot cards aside, I will do my best to see into the future, and how 2007 might look on some specifics that could impact those looking to to purchase properties or refiannce properties.  The big pictureLet me tart out by looking at the US economy at large.  Things began to slow down in 2006, which was not only needed after its former torrid pace, but also exactly what the Fed wanted to see happen.  A "soft landing" for an overheated economy is something you often hear the Fed wants, but rarely can achieve...yet...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
The staff economist for the National Home Builders Association, Michael Carliner, says that the Triangle (Chatham, Durham, Franklin, Johnston, Orange and Wake Counties of North Carolina) is "perhaps the healthiest market in the United States."  Area job growth is exceeding the national average.  New people means more buyers and it certainly doesn't hurt the demand for apartments either.  In October, on a year to year basis, jobs increased nationally 1.5%, the Durham area increased 2.2% and the Raleigh-Cary metropolitan statistical area increased 4.4%.  As reported here before, the Triangle housing market has not been immune to the hit the national market has taken.  For the most part our problems have been that of people moving here are having problems selling their homes in the markets...
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By Charles Rankin
(Rankin Commercial Properties)
  There are a few things to look forward to in Cary NC.  Efforts are being made to redevelop down town Cary.  Since the redevelopment zoning plan of Down Town Cary was accepted by the Town Council, town officials have been creating more and more incentives for developers to come to Town including cheaper to no development fees.  The only issue holding Down Town Cary back from soaring ahead are landowners asking high prices. But not all land owners are being unreasonable.  There are several old churches and buildings within the district that have hit the market and have "motivated sellers." For more information on these properties, give me a ring.  If you are looking for space in Down Town Cary I can help you purchase or lease and upfit.
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
A few years ago a group of dog owners approached the Town about providing a safe place where dogs could play and get exercise while not on a leash. In December 2004, more than 60 residents attended a meeting that the Town arranged for public input. The Cary Dog Park Club has hosted several "Dog Park for a Day" events that the Town sponsored. Club members have held the events to demonstrate how a dog park would work and to help raise money for one.  As a result of the residents effort, a wonderful new dog park in the Triangle area has opened.  This dog park is located at 2050 North West Marynard near the corner of Chapel Hill Road and Maynard.  The town of Cary's first dog park will provide a place for dog owners to let their pets run free safely and legally without a leash.  The park i...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
Just a short drive from Cary NC is a daytrip that you will remember.  Take Randolph county, an 801-square-mile expans in the literal heart of North Caorlina, midway between the Atlantic and the Appalachians.  Two hundres years ago, its fertile Piedmont soil and rich clay attracted British potters, who laid the groundwork for one of the most offbeat, yet authentic, tourist attractions in the state.  More recently, the area's central location and proximity to Greensboro, Charlotte and the Triangle attracted the N.C. Zoological Park, which was built on 1,500 acres just south of Asheboro. Randoph County even has its own royalty, a native son known as "The King", a lanky former race car driver by the last name of Petty who rewrote the NASCAR record boot with 200 career victories.  Like any g...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
The majority of people who build their dream homes in the Raleigh/Research Triangle area don't get all they paid for!  They either don't know, totally ignore or work with incorrect information when they don't take advantage of a very valuable asset during their home building process that would cost them - NOTHING!  In the Research Triangle area high-end homes market ($1 million and up) the vast majority of speculative built and presale homes are built in existing and/or newly developing subdivisions.  Couples who want to build their dream home will drive through subdivisions, having homes in the price range they are interested in, and talk to the on-site agent about available homes and/or lots.  The on-site agent will show them homes and provide information about them and the available ...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
Statistics Show Rising Prices in Raleigh Durham Real Estate MarketAccording to the National Association of Realtors®, in many areas of the country, home sales appear to be bottoming out with lower home prices attracting buyers. Is this happening in Durham County and the Raleigh area real estate markets? Not according to the September sales statistics.                         Durham sales statistics for September 2006 show 2,093 active listings which is 52 more homes on the market than September 2005 or a 3 percent increase. Sold listings have increased by 71 homes or 21 percent. The average sales price has increased by $11,296 or 6 percent compared to September 2005 with 14 percent more sales year-to-date than 2005. DurhamCountyActiveListingsSoldListingsAverageSales PriceYear to DateSal...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
    Gaelic Myths & Mayhem A Celebration of Halloween through the ages! Sponsored by The Historical Enrichment Society & Irish Events NC SATURDAY · OCTOBER 28 ·11 am – 10 pm   Featuring great Halloween activities and entertainment for the whole family! During the day, a wide variety of kids activities, games, pumpkin painting, costume contests, candy & entertainment. In the evening, we will kick it up a notch, with great Celtic Bands and really spooky happenings! Other musical/dance acts include....   The Main Stage will feature the following acts:- Hwyl- Julie Glaub & Little Windows- Albannach- The Apple Chill Cloggers & Band- Baile Daire- Danny Tighe Irish Dancers- Craig Wisely- The Ghosts of Erin- Albannach- Martin Furey- Seven Nations The Wake House will feature the following acts:- ...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
....Click Here For Details! Koka Booth Ampitheatre is located in the heart of Cary at Symphony Lake.  It has been recently ranked in the Top 10 Ampitheatres in the US.  The creative minds at the ampitheatre are bringing a special treat for the holidays!! An outdoor skating rink.  Here are all of the details:   DESCRIPTIONTinsel Town... a magical winter wonderland complete with beautifully decorated trees, an enchanted Santa house, holiday music, and a REAL OUTDOOR ICE SKATING RINK! Families will have the opportunity to skate on the rink, visit Santa, sip on hot cocoa, and meander through decorated holiday trees and art exhibits! DATESTinsel Town will be open daily from November 20th until December 31st with the exception of Thanksgiving Day and Christmas Day. TIMESMonday - Thursday: 4PM...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
I spent many years in high tech before launching my career in Real Estate.  I say this because REALTORS are rappedly ramping up their technical skills to be competitive in the marketplace.  One way to increase one's business is to have a blog.  Now the big question is:  "How do I drive traffic to the blog".  I've been doing a lot of reading and their is a techie guru that keeps a blog specifically on online marketing, SEO, etc.  I wanted to share a link to his blog:  http://www.sethgodin.com/sg/ Use lists. Be topical... write posts that need to be read right now. Learn enough to become the expert in your field. Break news. Be timeless... write posts that will be readable in a year. Be among the first with a great blog on your topic, then encourage others to blog on the same topic. Share...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
I mentioned earlier this week when the Parade of Homes winners were announced that there is a brand new luxury community ready to launch in prime real estate in Cary.  The Developer is Creedmoor Partners, the same team who brought you Devon, Linville, Stonemoor, Birklands, Chatsworth, Olde Creedmoor, The Moorlands, Traemoor Manor, Hasentree and all of the other premium locations in the Triangle are building at a premium location in Cary called the Renaissance at Regency. It is next to the Koka Booth Amphetheatre and Symphony Lake and just down the road from Regency Park Estates.  There are three sections-Executive, Manor,and Cottage Homes. Grand Estate Homes - Nestled along Symphony Lake on 165 gorgeous acres in Cary's prestigious Regency Park. Offers the enjoyment of nature and culture...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
As you have seen from several of my previous posts the Triangle area is growing in leaps and bounds.  As a part of the growth our schools are seeing a large influx of students as well.  In order to support this growth we will need new schools.  There is currently a proposed bond amendment for $980 million that will need to be passed in order for our school system to support the projected growth over the next five years.  There has been a lot of information passing back and forth.  Here are the main reasons you should support the bond vote in November. WHY IS THIS IMPORTANT TO YOU AS A MEMBER OF THE COMMUNITY?A strong and well-recognized public school system plays an integral role in recruiting the best and brightest minds to our companies. Take a look at these accolades--important valid...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
 Glitches in any real estate transaction are inevitable. If you are prepared, you won't be so shocked when they do.Here are some suggestions that may help:Understand That Your Home May Not Be Worth What You ThinkThe biggest shock most sellers face is what buyers think their home is worth. Sometimes sellers can be pleasantly surprised, but the reality is that markets change, and home values rise and fall. Many subjective factors such as floor plan, condition, updates and drive-up appeal affect home values.The truth is that buyers will determine the worth of your home, in this market, at this particular time, and that has very little to do with what you need to get out of the home.  People Won't Love Your Home Like You DoYou love your home and expect others to appreciate the same qualitie...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
.   Several AR members have requested that I breakdown the data that I provided for each of the markets year over year into more detail.  As you can see detached sales are up 12% in the Cary/Apex/Morrisville area over 2005.  This is a significant number in my mind relative to other areas.  What are your thoughts on sales to date in this area vs. others?   Market Snapshot for Cary/Apex/Morrisville: Description Aug 06 Aug 05 % Change Cary/Apex/Morrisville Number of detached sales  489  438 12 Number of townhouse sales  158  103  53 Number of condo sales  60  32  88 Average detached sales price  $333,000.00  $319,000.00   Average townhouse sales price  $185,000.00  $183,000.00   Average condo sales price  $158,000.00  $122,000.00   Average Sales price re-sale(all housing)  $252,000.00  $2...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
Last week I attended a seminar at the Raleigh Regional Association of Realtors (RRAR) and the head of the Durham and Wake County School Boards were in attendance.  They shared with us quite a bit of information on the upcoming growth plans for the schools in the area.  Our school system is expecting to 40,000 students over the next 5 years. If you are planning a move to the Raleigh area and have children, the best place to find up to date school nformation is located at http://www.wcpss.net/ .  This year homeowners are up for the 7-year assessment on their homes.   Last week a seminar was held to discuss what new schools, renovation projects and technology purchases would be financed by the bond issue.  
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
In some parts of the country (Florida and Arizona), a swimming pool is a must have. However, in the Triangle, a pool does nothing to increase the value of your home and can potentially drive away potential buyers.I have had several clients in town recently from Florida, Texas, and Arizona. They are all used to having pools.  I thought I'd write about the drawbacks of having a pool in North Carolina. A small pool in the Raleigh/Durham area is going to run you a minimum of $10,000 to install. However, comparitavely, there is little value that is added to the home as a result of this "improvement."In addition, if the potential buyer of your home has small children, the pool becomes a liability. Parents of young children consider swimming pools a risk. At the same time, the insurance compan...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
The market in cary is still steadily appreciating.  We haven't seen the boom of Florida, California, or Arizona but we do see the slow,  steady appreciation.  If all you want to do in real estate is make money on the basis of appreciation (asset growth), then you need a primer on how to make really good money in real estate. The authors of Investing In Real Estate, Andrew McLean and Gary Eldred (2006, John Wiley & Sons Inc.), have provided that primer, listing eight ways to grow your wealth in investment real estate. The key to building true wealth in real estate is through buying and holding. A good tenant can create wealth for you by paying for the mortgage, insurance, taxes and monthly fees through their rental payment to you. In addition, consider this: you have just taken over an ...
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By Tracy Santrock, Raleigh - Cary Broker
(Santrock Realty Group Inc. ,)
I know it doesn't feel like winter yet, but it is right around the corner.  Although it doesn't get too cold hear in North Carolina it doesn't hurt to be prepared for a long winter season.   Ice, snow and wind can have devastating consequences on the coziest of homes.  Several experts have recommended the following precautions for your home during the winter months: Maintain gutters. Remove leaves, acorns, sticks and other debris from gutters, so melting snow and ice can flow freely. This can prevent ice damming - a condition where water is unable to properly drain through the gutters and instead seeps into the house causing water to drip from the ceiling and walls. You may also consider installing "gutter guards." Available in most hardware and home stores, gutter guards are screens th...
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