Raleigh Real Estate Professional

Rain so far for February is within the normal range following the 1/2 inch we received so far this week.  Weather experts state that although this is keeping us from getting into further trouble, it has not made a significant dent in the current water deficit.

I’ve been receiving lots of questions about current appreciation rates in this area, particularly from folks considering a move to the Triangle.  So here goes - homes in Wake County appreciated at a rate of 4.97% for 2007, pretty fantastic given what is going on in other markets around the country.  The lowest area of appreciation within the Wake County was the East Raleigh/East Wake area in which homes appreciated 3.4%.  Garner had the second lowest appreciation rate within the county of 3.89%.  The highest rate of appreciation within Wake County in 2007 was enjoyed by the area of Raleigh known as “inside the beltline”, which appreciated at 6.89, followed by 5.45% for Cary/Apex/Morrisville.

In light of the long drought that we have been experiencing since Fall, 2007, Stage 2 Mandatory Water Conservation Measures went into effect on February 15.  The following measures are included:

• Prohibit the use of public water for irrigation;
• Prohibit filling new swimming or wading pools. Water may be added to pools to maintain sanitary operating conditions.  Filling of pools drained for repair is prohibited;
• Prohibit washing vehicles at any location, except at car-washing facilities that have been certified by the City to be in compliance with the requirements of the conservation certification program.  A total of 45 car washes have been certified under the conservation program. Please find the names of the certified car washes listed below;
• Prohibit washing of areas such as sidewalks, patios, decks, driveways, parking lots, streets and exterior building surfaces, except for soiled areas for the maintenance of public health and sanitary conditions;
• Leaking water services or plumbing will be interrupted immediately upon notification to the City of Raleigh’s Public Utilities Department. Water service will be restored when repairs are completed;
• Prohibit the serving of drinking water in restaurants, except upon request;
• Prohibit all non-essential use of water for commercial or public use;
• Buildings with water-cooled air conditioners or heating equipment that do not recycle City-supplied water must adjust thermostats to the highest or lowest settings available, respectively, except when the occupant’s health and safety are adversely affected;
• Require innkeepers to ask guests spending more than one night to use their towels and bed linens more than once between laundering; and,
• Direct commercial and industrial customers to review water uses and implement industry specific best management water conservation practices.

For additional information, visit www.RaleighNC.gov

I received a call from one of my clients today who is thinking about making a move and was inquiring about air traffic noise in different parts of the Raleigh/Cary Wake County North Carolina area.  They feel strongly about being within a close distance to Reasearch Triangle Park and the Raleigh Durham Airport without having alot of flight noise and want to familiarize themselves with the flight noise patterns.  I referred them the the RDU Aircraft Noice Website, www.rduaircraftnoise.com, and the phone number for the RDU Airport Noise Officer (919-840-2100) who I have found to be extremely helpful in the past.  This website will help to answer questions about whether particular homes are in flight paths and require an Airport Disclosure with an Offer To Purchase

As we continue to experience drought conditions since the drought that has gripped much of North Carolina since the summer of 2007, many of us have been baffled by what we can do to help our lawns continue to thrive as much as possible in these conditions.  I received some information from my lawn care company that I thought I would share.  Drought related damage to trees and shrubs many not be completely evident for 3 to 5 years. Be on the look out for symptoms such as : reduced leaf size, leaf drop, branch dieback, stunted growth and leaves that are off color.  Make sure that plants are properly mulched for water retention and receive spring (root zone) fertilization.  Keeping plants protected from damaging insects and diseases during the season will help reduce the amount of stress the plants are experiencing.

With so many of the elementary level schools being changed to year round status in Wake County, I have been bombarded with questions regarding the popularity of the 4 different tracks available, and how WCPSS is assigning families to one of the four tracks.  My understanding is that tracks 1 and 4 are the most popular tracks, requested by the greatest number of families.  I think that the school board does make an attempt to fullfill as many requests as possible, but unfortunately in a large school system such as we have, not all requests are going to be able to be fullfilled.  I’ve been told that priority is given to keeping families on the same schedule. 

The real estate market in Raleigh and Wake County North Carolina continues to be spurred by lowering interest rates.  Once again we’re seeing rates in the 5-6% range, lower rates than we thought we’d see again.  This is the perfect time to move forward if you’re thinking of selling your home, with new buyer’s entering the Raleigh market because of the lower rates.  If you’re thinking of buying, it’s never been a better time with the Spring inventory about to hit the market and low, conventional rates easy to come by.

The market in the Triangle continues to be vibrant and healthy, unlike the problems of the national market that we keep hearing about in the national media.  Current inventory levels are similar to what they were the same time of year for the past five years and home prices continue to appreciate at a moderate but steady rate.