Raleigh topped the list of the Best Places For Business and Careers Survey by Forbes Magazine for the 3rd year in a row! Forbes stated that “no metro area in the US can compare with Raleigh”, citing strong job growth both in the past and projected future, low business costs and an extremely educated work force. Durham was ranked number 3 on the list, following Fort Collins Colorado. As I always say, we are so lucky to live and work in such a great city!
Although not all residents of the area think it’s a great accolade, the Raleigh/Cary area was named the fastest growing metropolitan area according to federal statistics. The combined population of Raleigh and Cary jumped to 1.1 million people between July 2007 and July 2008, a 4.3% jump according the the Us Census Bureau. As those of us who live and work here know, the growth can be attributed to top Universities and Hospitals, Research Triangle Park, great public schools, low unemployment, temperate climate, and moderate cost of living; among other characteristics!
FHA loan limits have been changed as a result of the American Recovery and Reinvestment Act of 2009 which was signed into law in February 17, 2009. The limits will be effective for those loans for which credit is approved in 2009 and will remain in effect through December 31, 2009. The limit for Wake County is $295,000, while the limits for Durham, Orange and Chatham are $334,650. These new limits open opportunities for those in a position to buy with good credit, good salaries, but low down payments. Let me know if you have questions about this - Tina
Builderonline.com, a respected source in the housing industry has named Raleigh the #6 healthiest Real Estate market in the country! This continues to support the fact that it’s a great time to buy or sell in the Raleigh/Wake County area! Another wonderful statistic was reported by the Federal Housing Finance Agency which has named Raleigh/Cary #18 in house appreciation rate nationally. We’re lucky to live and work in such a fantastic area that continues to outperform the rest of the country during these difficult times in our economy!
The market is getting busy with buyers who have decided to take advantage of the $8,000 tax credit being offered. Remember, this is a tax credit, not a tax deduction. The benefit of a tax credit is that it is a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homeowner were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing- call or email for more details.