This weekend begins the Home Builders Association of Raleigh - Wake County Parade of Homes. This is the 43rd annual Parade in Raleigh - Wake County with 394 of the areas finest Builder’s showcasing the Triangle’s finest in new home construction. Parade hours this year are from noon to 5pm October 4-5, October 10-12, and October 17-19. If you’d like to get a Parade Book outling all of the homes available for tour, call me at 618-7171 or email me at tina@hpw.com. I know there are going to be some beautiful houses available this year and hope to see you out around Raleigh, Wake Forest, Cary and Knightdale! Please call with questions - Tina
This past week in light of current market conditions, Wynbrook, the KB Martha Stewart neighborhood on Strickland Road between Ray and Leesville Roads decided to offer $50K off base price to the next 5 homebuyers. The neighborhood offers all 1/2 acre lots and a variety of wonderful plans and elevations. The neighborhood is also in prime North Raleigh location, just off I540 and an easy commute to anywhere in the Triangle. One of my clients who had been considering this neighborhood was able to take advantage of this great deal and move forward with a contract at the reduced price. Please call or email with any questions or for a status check on available lots - Tina
The stock market suffered it’s greatest lost since the 9/11 terrorist attacks yesterday with the Dow Jones industrial average dropping over 500 points. Although this is a scary time for most American’s, it is the perfect time to purchase real estate. Interest rates have started to drop and are expected to continue over the days ahead. Seller’s fearing a slowing market are more negotiable on pricing and offering other attractive incentives to get their homes sold. Please call me with all of your questions and concerns - Tina
The Housing and Economic Recovery Act of 2008 gives a $7,500 loan to first-time homebuyers. This loan has no interest and no payments for two years! If you have not made a profit when you sell your home you do not have to pay back the loan. If you have not owned a home in 3 years than you are considered a first time homebuyer and can take advantage of this fantastic program. This, coupled with continued great interest rates makes it a great time for first time home buyers to move forward! Please call or email for additional information on this program or with any other questions - Tina
A recent report published by RBC Centura presented Home Price Appreciation rates for first half of 2008 versus the same time period for 2007. National HPA for this period was -9.8%. The lowest 4 states for HPA were NV (-24%), AZ (-21%), FL (-19%) and CA (-19%). The North Carolina HPA was (-1%). Of course this includes markets within the state that are not nearly as strong as our Triangle/Raleigh market. For a copy of the report, feel free to email me at tina@hpw.com.
Just a reminder that the Race for the Cure Walk/Run at Meredith College is tomorrow, and I’ll be there with team HPW to help raise money to fight this dreaded disease. You can still register online through midnight tonight, or register at the event tomorrow and look for our HPW signs. Hope to see you there - Tina
Kiplinger’s Personal Finance magazine has listed Raleigh as the country’s second best place to live in 2008, behind only Houston. The city is “a work in progress,” Kiplinger’s says in its July issue, which will hit newsstands on June 10 and is currently online. It’s long been a good place to work, but big-city cultural amenities have been lacking.
That’s changing, Kiplinger’s says. Raleigh is increasingly becoming a more exciting place to live, and the excitement of living there is catching up with the benefits provided by the local economy. In particular, Kiplinger’s cites the renaissance of downtown as the reason why 2008 marks “the turning point” for the Capital City. The magazine gives as examples the new Raleigh Convention Center and the downtown RBC Plaza, which are both set to open this year.
Also cited are many of the factors frequently cited when a Triangle-area city makes a “best places to live” list: a relatively low cost of living, a high percentage of workers with university degrees, and strong economic growth.
On June 14th, I will once again walk with Team HPW in the Susan G. Komen Race For The Cure to raise money to fight Breast Cancer. The 5KRun/Walk begins at Meredith College on Hillsborough Street in Raleigh. Events begin at 7:45 depending on which event you choose to participate in. All entry fees and donations go to fight this deadly disease. Please call or email me if you’d like to walk with our team. To register online, or to make a donation if you can’t make it on June 14th, go to komentriangle.org. Hope to see you at the race - Tina
In an article in Forbes on 5/9, Raleigh was named one of the top 10 recession proof cities in the USA! ”Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly–or even contract–in the first half of the year. But some cities are doing just fine.” Among the factors that were considered in development of the list were unemployment data supplied by the US Bureau of Labor and change in median home prices from fourth quarter 2006 to fourth quarter 2007. As I’ve been blogging and writing in my Newsletter, Raleigh and the entire Triangle area continue to enjoy a strong, healthy economy in the face of a gloomy national picture!
Current reports indicate that Falls Lake is 4″ above capacity. City officials say that it’s still too early to further ease water restrictions. Let me know if you have questions of the current Phase I water restrictions - Tina