Raleigh, NC Real Estate News

By Keith Pate
(Keller Williams Preferred Realty)
Raleigh OverviewRaleigh offers something for everyone. A premier community in which to live, work and play, you'll find a thriving business community, active arts and culture population, excellent healthcare, and outstanding educational and career opportunities. It's not only a prime place to do business, it's a place everyone is content to call home.Located centrally within North Carolina, Raleigh has been named the #1 Place to Live and Work in America by such publications as Employment Review, Forbes, FORTUNE, and Money. But don't take our word for it. Take a look at what other executives think of Raleigh and look at the facts:Business ClimateIndustry giants in pharmaceuticals, computer software and hardware, telecommunications, and biotechnology dot the landscape in spacious campus-l...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
Crescent Resources, a Charlotte, NC based development company has filed site plans in Wake and Franklin Counties for an 806 acre development which will sit right on the county line. The new neighborhood, currently called "The Lakelands" will feature upscale homes in a luxury price range. The 806 acres is located off of Moore's Pond Road, which is near a popular fishing area. The plans are for The Lakelands to be a gated community.Franklin County is expected to be one of the beneficiaries as Wake County's population boom begins to stretch to the exhurbs since I-540 has now been completed all the way across northern Wake County. With the addition of this Northern Wake Expressway, Franklin County now is only 10-12 minutes from the Capital Boulevard exit and Zebulon is only minutes from Hwy...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
I worked with a wonderful couple from Chicago this past weekend.  They are moving from the Lakeshore area and wanted to replicate their lifestyle here in the Triangle but also downsize a bit, save a bit of money, and to be with their family.  The Triangle area is very spread out and the neighborhood "communities" throughout the Triangle area very different. What I mean is that the culture, atmosphere, and dynamics are different.  You can't hop on Realtor.com, take a few virtual tours, and expect to get a good feel for the area.  If you are considering relocating to the Triangle a short weekend visit will be a good indicator whether you will like it here. I personally am fortunate in that I have lived in the area since 1991 and spent a lot of time on the road since then!! I lived in Chap...
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By Molly of The Pet Realty Network
(Pet Realty Network)
In conjunction with THE LUCKY DAY Campaign, The Pet Realty NetworkTM is pleased to announce the exciting partnership with SPCA of Wake County. Read full Press Release Here The Pet Realty NetworkTM, launched at the end of January 2007, connects Pet Friendly People with a database of Pet Friendly Real Estate Professionals and their Properties, plus a Pet Resources Directory, up-to-date Pet and Real Estate News and Views, and The Pimms and Friends Photo Gallery where you can upload photos of your pets that link to your professional Pet Realty Network Bio for our local, national or international Visitors.  Please visit us and help support your local SPCA Wake County!
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
If you're looking for a great location central to Research Triangle Park, shopping, dining, and the airport look no further than Brier Creek.  This 2,000-acre master planned community developed by Toll Brothers in Raleigh is known for its country club lifestyle, appealing residential neighborhoods, shopping, dining and entertainment.  This location is just off of I-540 and I-70 and came into existence around the time the first section of I-540(the outer loop) opened.  It's unique in that it is convenient to not only Raleigh, RTP and the airport but also the surrounding towns of Durham and Chapel Hill.    The shopping center, Brier Creek Commons, offers the best of retail stores in the area.  Developed by American Asset Corporation it has the large anchor tenants along with smaller speci...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
So what constitutes a Luxury Home in the Triangle?  Next time I'll focus on the properties themselves.  Today I thought I'd write about the market in general.  This market is defined as having residential housing priced at $500,000 and above.     Did you know over 144 homes over $1 Million sold in the Triangle in 2006 alone.  Homes over $1M sold grew by 35%! There were 1,200 closings of luxury priced homes in 2004, 1,500  closings in 2005, and 1,9000 in 2006.  The market grew by 25% compared to 2005.  Even though sales are higher, inventory is up 45% in this segment.   So, where are these buyers coming from with all that cash?  The Top 4 Counties in the United States that sent buyers to the Triangle:    Fairfax, VA Cook, Illinois Los Angeles, CA Suffolk, NY The average % per year gain f...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
Relocation and real estate continue to grow in the Triangle Area of North Carolina.  Realtors are frequently asked why the real estate market in the Raleigh & Cary area is so popular.  Our area received numerous awards of disctinction in 2006.  Below are the most notable.  #1 City for Jobs by Forbes Magazine February 2007#1 City for Federally Funded Economic Development Incentives (Raleigh, NC) Public Policy Forum, March 2006#1 Highest Growth County in NC  - Wake County, NCUS Census Bureau, March 2006#3 Most Educated City (Raleigh, NC)US Census Bureau-American Community Survey, 2004 (Released January 2006)#2 Best Place for Business & Careers (Raleigh, NC)Forbes, May 2006 - We've been in Top 10 for what seems like forever!#5-Star Quality of Life Metro (Raleigh, NC)Expansion Management "Q...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
What do you get in Raleigh for $1,000,000?  One new million dollar home gives you 3-4 bedrooms, 3 Bathrooms, 4000 finished square feet, Dining room, Family room, Office/Study, Kitchen, Breakfast room, Hearth Room, a 3 car garage and a .25 Acre lot if it's inside the beltline or very close to it. What do you get for $4,000,000?  How about 6 Bedrooms, 6 Full Bathrooms, 1 Half Bath, 10000 finished square feet above grade, Living room, Dining room, Family room, Office/Study, Kitchen, Breakfast room, Bonus room, Theatre, Exercise room, Billard room, Nanny Suite, 2 wet bars, elevator and situated on a 1.32 acre lot in the heart of the Inner Beltline. What do you get for $32,000,000?  How about a 20,000 square feet main home and a 3,500 square foot 3 bedroom guest home.  The main home has a 40...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
 The long awaited north Raleigh segment of I-540 from Triangle Town Boulevard to the U.S. 64/264 Bypass in Knightdale opened at 11 A.M. yesterday.  This segment will make travel a lot easier and faster for many people.  It will make traveling from Rocky Mount, Wilson and even Goldsboro much faster to RDU airport and to all areas of north Raleigh.  Of course it will help shorten the daily communtes of people living in Clayton, Knightdale, Garner and other communities east of Raleigh into and through the Raleigh area as well. The rest of the new I-540 section -- from N.C. Highway 54 to N.C. Highway 55 in Research Triangle Park -- should be ready for drivers by August
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
In Raleigh, NC, for 154 years the mentally ill have received treatment at the Dorothea Dix Hospital.The hospital occupies approximately 425 acres on a hillside with a great view of Downtown Raleigh.  Dix Hospital is directly across Western Boulevard from Boylan Heights Historic District neighborhood.Across Lake Wheeler Road is Caraleigh, a district of less expensive starter homes.Effective late 2007 to early 2008, Dix Hospital will be closed and patients transferred to Butner, NC.  This will make the land at Dorthea Dix available for use in other manners.  There are, of course, mixed opinions regarding the proper use of this delightful state land.  The City of Raleigh, and the North Carolina State Legislature have a voice in the outcome.  It is nearly a certainty that there will be some...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Boylan Heights Historic District is another Raleigh Neighborhood blessed with many fine homes from the turn of the 20th century.  Combined with a proximity to North Carolina State University, and the City of Raleigh Downtown area, along with walking distance to Glenwood South entertainment district, Boylan Heights is one of the most desirable neighborhoods in Raleigh.  Raleigh Skyline from South Boylan Avenue, Boylan Heights BB&T Building seen from Kimsey and Cabarrus in Boylan Heights. Typical home sales prices are elevated due to the historic designation of the subdivision, and vary widely due to condition, style, and size of home. Excerpted from the Design Guidelines for Raleigh Historic Districts: Before its development beginning in 1907, the property which is now Boylan Heights was...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Timberlake was partially mapped in the 1940's as a small subdivision outside Raleigh, North Carolina.  It is blessed with lakes.  The subdivision was originally laid out to include an airstrip for the homeowners, which later was sacrificed for the construction of homes..Over the years it was enlarged and more phases and streets added, but the focus remains the beautiful lakes: Today, Timberlake is a mixture of 1950's homes and modern 1990's homes.  All homes share the beauty of the four private lakes, with many lakefront homes enjoying the year round waterfront paradise. View currently available homes in Timberlake. Homes in this desirable old subdivision seldom go on the market.  Ergo, it is difficult to offer sales information.  Advice?  If one is for sale, and you want it, DON'T HES...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
Within walking distance of downtown Raleigh and North Carolina government complexes, Historic Oakwood is an area of several blocks of homes.  "They don't build them like that anymore!"  Many homes have undergone historic renovation which has saved them from being broken up into apartments or knocked down for new construction.I DID say "Historic" Oakwood!And I have more!History lives in Historic Oakwood!Many homes show the love we have of older architecture.
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
The most vibrant neighborhood in Raleigh, NC, Glenwood South is a mixture of restaurants, trendy shops, new condominiums, and nightlife opportunities.   Just blocks from the center of North Carolina government power, the street is a magnet for visitors from across Wake County, and from farther away.The New York Times even featured Glenwood South in an article in the Travel section in February, 2006.   Glenwood South Street ScenesThe success of this area has spawned construction of several nearby condominiums, The Paramount on Boylan Avenue, 222 Glenwood, and on South Boylan Avenue, Bloomsbury Estates Condos.Bloomsbury Estates Condo construction510 Glenwood is a modern mixed-use complexAnd the past is proudly represented by a couple of classic food venues on Hillsborough Street:Great Bur...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
How do YOU give back to your community?  Here's one way.  I posted these two Raleigh, NC landmarks on Localism, and now I see in today's Raleigh News and Observer that they have been united as the terminus boundaries of a sophisticated and educational charitable fund-raising event. The idea: Start at the NC State University Bell Tower: Run 2 miles to the Krispy Kreme Donut Shop on Person Street: Wolf down a dozen glazed donuts and run back to the Bell Tower.  In less than an hour.  Without tossing your cookies.  (Good Pun, "cookies." Huh? Huh?) "Krispy Kreme run is sweet charity"  from the N & O.  You may have to register(sorry, but it is simple, quick, and free.) 1300 participants.  "About $10,000 will be donated to the N.C. Children's Hospital." I'm half-sick reading it, for a great c...
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By Mike Jaquish, 919-880-2769 Cary, NC, Real Estate
(Realty Arts)
When posting photos, I take the approach that I want folks to see the local flavor, housing styles, old and new mixed.  I'm a ham-and-egger photographer, and I admit it.  So I would rather get dozens of presentable shots than set-up for one great composition that a visitor can't duplicate.Some favorites:Yates Mill Pond, Wake County, NC, just taken today.  It is an accessible scene to anyone who walks in.  Don't need a helicopter or time-lapse photography to get the same perception I did:Same with my walk around the North Carolina State Capitol Grounds in Raleigh.  Easy vista, with nice evening light.  New and old mixed, but accessible to anyone who comes to town.  From this angle we see the WW II memorial in the foreground, the  c. 1840 Capitol in the middle, and the Wachovia Tower in t...
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By Tracy Santrock, Raleigh - Cary Realtor/Broker In Charge
(Fonville Morisey/Santrock Realty Group, Inc. )
The Raleigh area is growing so rapidly we haven't caught up to the major cities like Boston. However, we had over 18,000 transplants last year and are expected to have even more next year. There is a plan to revitalize the downtown area called the Liveable Streets Downtown Master Plan which details the planned expansion of the downtown area. The Liveable Streets Master Plan is the plan guiding downtown Raleigh's development which consists of five main parts: Build the new convention center, reopen Fayetteville Street, build a convention center hotel, improve pedestrian environment, and undertake regulatory reform to make it easier to develop and build in the downtown area. As to some of the larger projects, RBC has just broken ground on their new office building. They sold 139 condomini...
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By Jason Yasser
(Flagstar Bank)
Mortgage News:Ready to Trade-In Your Home? Perhaps You Should Remodel Instead!By Jason Yasser, Loan Center ManagerEach year, millions of Americans move into the home of their dreams. As time goes by, families expand, kids grow older, and suddenly that home isn't quite so perfect anymore. Or perhaps you still love your home, but you really want a gourmet kitchen and a larger master bedroom. Should you start looking for a new house? Or would it be better to stay where you are and remodel instead? Both options involve a significant investment of time and money, so it's important to take your time and make an informed decision. You'll also want to be sure to consider both the financial and the emotional sides of the equation. Let's begin by examining the financial factors involved. Moving: ...
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By Jason Yasser
(Flagstar Bank)
Mortgage News:Is it time to refinance?Jason Yasser, Loan Center ManagerCarpe Diem – seize the day. Or as Tom Ward puts it in The Empathy Effect, "Successful people...recognize and seize opportunities."  You may have a chance to save a great deal of money on your mortgage, thanks to two recent developments! The Inverted Yield CurveThe financial sector usually doesn't behave the way it has been in recent months. Short-term notes, as compared to longer term notes and bonds, typically offer lower yields because an investor's money is subject to less risk. The longer you tie up your money, the more you should be rewarded since it's difficult to know what economic conditions will be several years from now. As a result, the normal yield curve slopes upward with the length of a security's matur...
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By Jason Yasser
(Flagstar Bank)
Mortgage News:Optimizing Credit Scores & Interest Rates: A Skilled Originator Can HelpJason Yasser, Loan Center ManagerIt's a very simple equation. The higher your credit score, the better interest rate you will receive as a borrower. The reasoning behind the equation is equally simple – your interest rate not only reflects current market conditions but also your estimated ability to pay back the loan. To a lender, the latter is worth its weight in gold. Components of a Credit ScoreGenerally speaking, your credit score is based upon the following criteria in order of importance:  ·    Payment history (this is where delinquencies will hurt you). ·    Responsibility regarding credit usage (how maxed out are your accounts). ·    Credit age (how long have you had your credit accounts). ·   ...
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