Raleigh NC Real Estate Home

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.

For the past couple of weeks I have been gathering information for a presentation at a seminar for out-of-state buyers interested in purchasing properties in markets outside of their own. Knowing for several months about this seminar, and this presentation, I began paying closer attention to the National housing news and an even closer look at our local market. Of course, since I work in real estate every day, I know our area is thriving. I have worked in good markets and not so good markets (the 80’s were *really* tough), however, now I can support this with actual facts using the economic indicators, and I am here to report we have stable, steadily growing real estate market in the Raleigh-Durham-Cary area (no matter what the national statistics say). (After the seminar I will post this presentation on my website. There are a lot of interesting statistics and facts about the Triangle real estate market. Please contact me if you have an interest in being notified when it is posted.) As of September 2006, as reported by the Employment Security Commission, 31,100 Triangle jobs were created. That is up 47% from the previous year. Job growth is what fuels our wonderfully stable real estate market here in Raleigh-Durham. That is good for investors for families and individuals who are relocating to our area and it a good indication that the real estate business will continue to be a wise and profitable investment in Raleigh-Durham. 

And, since this is Thanksgiving Eve — I am thankful to be in a business that I love so much, in a market so incredibly sound and an area that is so green and beautiful and offers so much to so many. It is with gratitude that I thank the Universal Spirit for all my many blessings.   I hope you and your family and friends have a meaningful Thanksgiving. 

Recently the News & Observer, (November 18, 2006, More homeowners cut prices to sell) reported “As the rest of the nation struggles with a housing slump, the Triangle appears a bit of a haven for those selling homes.” How fortunate we are to have such a strong housing market in the Raleigh-Durham area. We seem to be balanced — neither a buyer’s market nor a seller’s market. In our current market, it is not unusual to receive multiple offers on a property, and that shows strength in our Raleigh-Durham real estate market. The article goes on to report “average home prices here have continued to rise, and the number of days homes stay on the market before they sell has decreased.” It looks like 2006 could be another record year for the number of homes sold. If you are moving to the Raleigh Durham Triangle area and are looking for a local housing expert you have landed in the right place. Give me a call — I will help make your move trouble free.

53% of the voters said “yes” to building new schools or renovating existing schools in Wake County. Now we will have at least a chance of keeping up with the much needed facilities to house the children of relocating families to the Raleigh-Cary area. We added 7,500 students to our schools this year, and expect this trend to continue in the coming years. Congratulations to our Wake County Public School System. This means continued growth for Raleigh and the Triangle area, and we will continue to provide quality education for our children. If you are relocating to Raleigh, you will find a lot of information on my website. Please contact me if I can be of assistance. I am a relocation “expert” having lived in Raleigh since 1959.

Based on information released by the North Carolina Employment Security Commission for August, 2006,  Wake County has a workforce of 431,089 with an unemployment rate of 3.4%. This is an increase of 5.16% compared to the August ‘05 workforce of 409,912. The unemployment rate in August ‘05 was 4%. This is great news for those seeking employment in the Raleigh area, or who are considering relocating here. Jobs continue to come into the Triangle area. If you are considering purchasing real estate in the Raleigh Cary area, contact a relocation “expert” who knows the area (since 1959) and knows the Raleigh and Wake County real estate market well. Also, visit my website where you will find much more information about Raleigh, Cary and our surrounding towns (Holly Springs, Apex, Garner, Morrisville, Fuquay Varina, Clayton, Wake Forest, Rolesville, Zebulon, Wendell and Knightdale just to name a few ) . And, you can always give me a call. I would love an opportunity to talk with you about our area. 919-961-7777.

On November 11, 2006 brokers and their prospects are welcome to pre-tour Hasentree and secure priority reservations for upcoming sales events. If Hasentree is a place you would like to consider, I can get an invitation. Just give me a call at 919.961.7777 or send an email and we will make it a date. Perhaps we can visit the site of the elegant golf villas near the Hasentree Clubhouse overlooking the #10 and #18 fairways. Prices begin at $875,000.

As reported in “Builder & Broker Journal” (Triangle Edition) the “Triangle’s new premier golf community sets standard for luxury living in region” — Hasentree is a neighborhood being developed by Creedmoor Partners, a absolutely incredible development group who has demonstrated many times they have a special and amazing talent for taking a piece of land and making it feel and look like “home” very quickly. First time I went to Hasentree, all I could find was a dirt path and a “coming soon” sign. Then a couple of weeks ago I stopped by and, much to my amazement, the Tom Fazzio golf course is looking lush and green, main roads are in, home construction has started and this new Wake County community is shaping up nicely. Hasentree is the first community in the Triangle that will have the look and flair of a luxurious four-star resort. Estate home sites are $375,000 to $600,000 and new home prices range from $800,000 to over $4 million. About 600 families will be able to enjoy Hasentree and the 934 acres that has been set aside as open space or protected natural area. If you would like a personal tour and preview of this beautiful residential community please send an email or give me a call. Additional contact information can be found on my website. Call me soon. I am always looking for “excuses” to see the progress of this great addition to our Raleigh and Triangle Area real estate.