Raleigh NC Real Estate Home

When the City Fathers decided to dig up the Fayetteville Street Mall, and re-open Fayetteville Street (our “Main Street”) to traffic after thirty years, I was very disappointed. I enjoyed walking on the Mall downtown among the fountains and hot dog vendors. However, all is not lost and much to my joy, there is  talk of a new downtown plaza (toward the South end of Fayetteville Street) where downtown residents and visitors would enjoy restaurants (hopefully, including outdoor), cafes and newstands (and how about parades, gatherings and concerts?) which would contribute to the wonderful personality changes now underway in Downtown Raleigh. So exciting to watch! If Downtown Raleigh real estate is something you are considering as an investment and/or your new home — let’s talk about it. I am a click or a phone call away.

Today, msn.com published an interesting article comparing rental markets through the US. See entire article –

http://realestate.msn.com/Rentals/Article.aspx?cp-documentid=2744671

The Raleigh residential rental market is steadily improving and fewer landlords are using incentives to attract tenants. We have a steady flow of people moving into our area and many rent until they get acquainted with the Raleigh real estate landscape before purchasing a home. We are holding our own in the rental side, being in the “average” category compared with the national statistics.

Adding to the momentum and rebirth of downtown Raleigh, the Wachovia Capitol Center, the largest office building in the Triangle was recently sold for a record-breaking $153.4 million — about twice what the sellers paid for it in 1999. Another vote of confidence for downtown Raleigh revitalization. There are many investors interested in purchasing real estate in Raleigh and no shortage of bidders standing by for commercial properties. Downtown Raleigh is coming back in a big way. Stay tuned . . . If relocation to Raleigh is on your mind for you or your company please take advantage of the information on my website. Or better yet, give me a call at 919.961.7777.

While catching up on my reading over the weekend, I ran across an article in the “Wall Street Journal Sunday” (November 26, 2006), “Home Buying, or Selling, in a Falloff” that displayed a chart of house values — “Over, Under, or About Right” and shows Raleigh-Cary, NC as a “Fairly Valued” location. They list the Raleigh-Cary average real estate price as $211.7 (average home prices will vary from survey to survey from this low of $211.7 to up to $234,000 which has also seen reported). Fortunately we have not experienced a “falloff” in the Raleigh-Durham area. Our real estate sales continue to be steady. Back in the summer we were experiencing equilibrium in the real estate market and now it appears we are changing from a flat market (with modest appreciation), which has been hanging around a couple of years and are beginning to a slow turn into a possible seller’s market. Our jobs come from four major areas — Technology, Research, Government and Education — all solid industries. We attracted 31,000 new jobs to the Raleigh-Durham area last year — a 41% growth. Other complimentary industries are naturally drawn to our area due to the presence of the wonderful companies who call the Raleigh-Durham area home. Please check out our website There you will find a wealth of information about our area. And, I love to talk with people about the Raleigh-Durham area. So, you can always give me a call at 919.961.7777. Usually available from 9AM to 7PM unless I am in a closing or showing property. If you are considering relocating or investing in the Raleigh Durham area, you have found the right place and the right person  

Recent statistics released by the NC Employment Security Commission show new jobs in North Carolina continuing to occur in various sectors and report a correlation with population growth in the particular sector. The Triangle jobless rate of 3.8 percent remained unchanged. The Triangle rate was lower than the statewide rate of 4.7 and national rate of 4.5. The unemployment rate in the Triangle remained steady due to the many jobs that continue to come into our area either through corporate expansion or new companies moving here. According to estimates from Wachovia Securities, about 55,000 people moved to the seven-county Triangle region in 2006 (Wake, Durham, Orange, Chatham, Franklin, Granville and Johnston).  Low unemployment and job growth – how much better can it get? We are fortunate live in a thriving area that attracts many relocating families and real estate investors. They find our quality of life to be extra ordinary and irresistible and we welcome them into our community. More information about relocation and real estate investing in the Raleigh Durham Real Estate Market in North Carolina can be found on my website. Or, you can give me a call at 919.961.7777. I am usually always able to take your call unless I am with a client.

Much of the National statistics have been concentrating on housing prices in the real estate boom, then recent slowdown, and not much information has been published about land prices, until recently. Statistics say National land prices have taken an even wilder ride with residential lot prices in many areas of the country plummeting in the past year as much as 29%. Thankfully, not all markets are experiencing the same event – the Raleigh-Durham real estate market being one of them. In the Raleigh Cary area, larger tracts of land (for residential development) have increased in value from 10 to 15% annually since the late 1990 (according to estimates by Wake County revenue director Emmett Curl.) And, Mr. Curl expects appreciation to continue at a comparable rate in the Wake County (Raleigh, Cary, Apex, Holly Springs area) “for the foreseeable future.”  Raleigh real estate is certainly impacted by the national economy — primarily when those who want to move to our area cannot do so until they sell their current home. Raleigh Durham economy continues to thrive with new jobs continuing to flow into our area and many new families moving here daily, which creates more demand for housing, and makes for a great climate for appreciation. Raleigh and Wake County — A great place to live, work and play.

Recent figures released by the US Census Bureau show Raleigh number 6 nationally in numerical change in population from 2004 to 2005. Our Raleigh Durham Cary real estate market remains a safe harbor for real estate investment in light of the downturn in the National housing industry. We continue strong in job growth, steady appreciation in real estate and a steady increase in the number of people who move here every day (according to one source, 39 families per day move to the Raleigh Durham area). We are, of course, affected locally when those who want to move to our area cannot, due to their being unable to sell their home in their current location. Although I don’t have cold hard facts to prove my theory (other than what I see come across my desk), my educated guess is the number of families who inquire and are sincere about moving to the Raleigh area and don’t because of their inability to sell their current home in another location is from 30 to 35 percent.

And, the Triangle area real estate market is enjoying the benefits of the currently low interest rates. I feel confident that mortgage interest rates will not rise much, if at all, in the near future since that would put added stress on the National housing market.

If you are interested in moving your family to the Raleigh Durham area or investing in real estate here, please give me a call (919.961.7777) and let’s talk about the many benefits of our area. Or you can check the information on the website at http://www.janwynns.com where you will find a lot of information about relocating to and investing in the Raleigh Durham Cary area. Either way, we have lived in the Raleigh Durham area many years, have seen a lot of growth, we know the area and can help you relocate your family with great ease. 

Each month, Stacey Anfindson, the statistical wizard who crunches the numbers and gives the members of the Raleigh Regional Association of Realtors data so we can keep up with market conditions (http://www.tarreport.com/) recently issued his monthly report and here is what Stacey has to say – Since the 2000 census, Wake County has had an increase of 17% in median family income; Residential land (average price per acre) has increased 57% since 3Q05; New construction - average closed price in Wake is in line with median house price affordability; In Wake, the average closed price of re-sales is 30% below median house price affordability indicating potential for price appreciation for current re-sale owners; Prices in Garner and Holly Springs are lower than median incomes can afford which indicates a potential for appreciation for current buyers and sellers. Many people talk about “the bubble.” As I have said before *we are not participating” in the Raleigh-Durham (Wake and Durham Counties) area. Our employment base is built on Government-Education-Technology-Medical Research — all solid industries. To find our more about the Raleigh Real Estate Market, please go to my website or give me a call. I have a whole lot more information to share about our area.

Recently I attended a seminar in San Francisco designed for real estate entrepreneurs interested in investing in other areas of the US, where the downturn in the housing industry has not taken such a toll (that would be Raleigh-Durham). We are certainly blessed in Raleigh Durham and find many families (39 per day!) choose to relocate their families to our marvelous area due to the family-friendly environment and job availability (not to mention the wonderful climate — four distinct seasons a year; little over 2 hours from the coast and same from the mountains; low unemployment; *great schools*; we appear near the top in most of the “Top 10″ lists issued; etc. etc.) What’s not to like about our area! My website gives you much more information about Raleigh-Durham and Cary, North Carolina. Check it out at http://www.janwynns.com or give me a call 919.961.7777 we let’s chat about your investment criteria and/or housing needs if you are moving your family to the Raleigh-Durham-Cary area.