Cary NC Real Estate >> Raleigh & Cary NC Real Estate Blog

City:  Cary

Location:  Off of Carpenter Fire Station Rd. and HWY 55

Neighborhood Facts:

• Price range is from the $300s -$900s
• Located in the fast growing Northwest Cary area.   
• Homes include the Shires and the Manors

THE SHIRES
       The Shires feature lower-maintenance cluster homes priced from the high $300,000s - $500,000, that range in size from 2200 to 3200 square feet. Homes feature up-to-the-minute amenities, extensive landscaping, and many include downstairs masters, screened porches, and courtyard or patio areas.

THE MANORS & THE ESTATES
       The Manors offer homes that range in size from 2700 to 4500+ square feet priced $500,000 - $900,000s+. Innovative and unique floorplans provide exceptional custom features, and many homesites adjoin preserved natural areas or the 9-acre pond.

BUILDERS:

·  Amward Builders

·  Ange Construction Company

·  Bluepoint Homes

·  Homescape Building Company

·  Impact Design-Build, Inc.

·  John Leggett and Company

·  Poythress Construction, Inc.

·  Poythress Homes, Inc.

·  Timberline Builders

·  Wardson Construction, Inc.

·  Zeigler and Company

Cameron Pond just received the North Carolina Home Builders Association Community of the Year at the 2006 STARS Awards.  This community was developed by the same award-winning team responsible for the success at Highcroft in Cary.  

Just a couple of years ago you never would have guessed that they would be building 5000+ homes in this area over the next five years.  The amenities at Cameron Pond are impressive-Junior Olympic Pool, cabana, toddlers playground, and playfield all within the community.  

Located just off of HWY 55, head West on Carpenter Fire Station Road.  The Cameron Pond Entrance is on the left.   Please note that the front of the neighborhood attends Davis Drive schools and the back of the neigbhorhood attends Salem Elementary & Middle Schools at this printing.  In addition, I-540 will be going in behind the Western section of the neighborhood.

For more information go to the Cameron Pond website or contact me directly for this neighborhood.

A lot of people talk about how Chapel Hill Real Estate is exclusive and the affordability aspect is an issue. Real Estate sales in Chapel Hill continue to be strong. With a healthy economy, a recent decline in interest rates, and a stable housing environment it's a great area to buy a home.

Through the first Quarter of 2007 the Orange county unemployment rate dropped to 3.1% down from 4.3% the year prior. The most recent population(2005) count for the area is 129,791. 

The average sold price for a home in Orange County is $318,000.  The average sold price of resale homes is $298,500 and new homes is $410,600.   The average price of a condominium is $210,000 and a townhome  at $288,500.   

What a big difference a few months makes.  Overall inventory has increased a whopping 23%.  Most of the inventory growth is outside of Chapel Hill. Inventory within Chapel Hill decreased 9.8% overall prior to last year.    Inventory levels in Orange County are at 7 months with resale housing at 4 months.   The inventory in Orange County is slightly higher than other areas within the Triangle.  

Areas that are selling the fastest include the Providence Glen, Meadowmont, and Rosemary Village for New Construction.  Colony Lake, Southern Village, and Lake Hogan Farms are top sellers for resale housing.

There are several new communities in Chapel Hill that are under development such as Chapel Ridge Golf Community and The Parks at Meadowmont.

For more information on Chapel Hill visit the town's website or the Chapel Hill Chamber of Commerce for more information. 

Another good source of information has just been released by the town's Economic Development Department on the 2007 State of the Economy. 

City:  N. Apex, North Carolina

Address:  Just off of Jenks Carpenter and Holt Rd. 

Neighborhood Facts:

• Established in 1995
• Price range is $200k-mid $300ks 
• Over 300 Single Family Homes on the border of Cary/Apex 

This community, established in 1995 has over 300 Single Family Lots. There is a combination of Drees Homes and custom builders in the neighborhood. Amenities include a pool and greenways. Priced primarily below $300k it's a good value for North Apex.

For more information visit the Charleston Village HOA page which has a lot more information on the neighborhood including a neighborhood newsletter and community board.

City:  Cary, North Carolina

Address:  MacGregor Downs Country Club at the intersection of US1 South and US64 East (Tryon Road) in Cary, North Carolina

Neighborhood Facts:

• Age range is 1960's to homes that have been leveled & are new
• Price range is $500,000-$4 million+
• Prime Location in East Cary!

Cary first began growing southward with the MacGregor Downs subdivision - the first prestigious development in Cary. This sudivision was built in the 1960s with large lots and homes off U.S. 64, MacGregor Downs used to define Cary's southernmost point. In fact, many claim that Cary's reputation for upscale residential living is due to this subdivision.  For those of you that are familiar with the term "Inner Beltline" or "ITB" MacGregor is considered to be "Inside the Beltline" for Cary.   

Condominiums and homes command good prices,  the neigbhborhood is adjacent to MacGregor Downs Country Club where you can find estate-size homesites of one to five acres.  In this section of MacGregor there are several lots that have been purchased, leveled, and re-built with custom homes.   

One of the other great features is MacGregor's prime location. Three premium grocery stores, including the new Trader Joes,  a Whole Foods Market,  and Harris Teeter.  There area also lots of restraunt choices like 42nd Street and others across from the entrance of MacGregor!

To view homes for sale in MacGregor click here! If you'd like more information on the neighborhood feel free to contact me directly. 

City:  Cary

Location:  Next to Davis Drive Elementary & Middle Schools

Directions:  From RTP travel South on Davis Drive past the Davis Drive Schools onto Park Village Drive into the subdivision. 

Neighborhood Facts:

• Price range is from the low $200s
• Next to Davis Drive Elementary!

Park Village is close to the new Stonecreek Village Shopping Center located at Davis and High House around the corner from my office.  To view listings in Park Village click here.  To visit the Park Village HOA website click here. 

Many of my Senior clients have requested that I keep you updated on the latest plans and releases out at Carolina Preserve, North Carolina's only Del Webb Community. 

The next release for new Cardinal, Dogwood and Emerald homesites will occur on Monday March 19th.   Here's what will be available in the second phase release of homesites:

Cardinal Collection:. The time has come to release these much anticipated cul-de-sac and oversized homesites. These highly sought after homesites are walking distance from Bradford Hall, the 30,000 square foot amenity center. Homesites range from $5,000-$15,000.  Estimated timeframe for home completion is January-April 2008. 

Dogwood Collection: Monday's release will feature private wooded homesites as well as oversized corner sites. The Dogwood Collection continues to be a favorite! Interior homesites range from $7,000-$15,000. Wooded homesites range from $30,000-$42,000.  Estimated timeframe for completion is April-July 2008.  

Emerald Collection:  The lifestyle for which Del Webb is famous will be just a short walk from these conveniently located homesites.  Interior homesites range from $5,000-$25,000. Wooded basement sites range from $62,000-$70,000.  Estimated timeframe for completion is Nov 2007-February 2008. 

I have also received requests on details of the realease of the Villa Townhomes.  The Villas will be two bedroom, two bath townhomes with approximately 1,200 square feet.  These sites will be released in Phase Three which is due for release in the September/October timeframe with delivery in late 2008. 

Just received an email today that Carolina Preserve has 3 lots with FREE BASEMENTS (3/25)!!! Call soon or they will be gone.

Del Webb has sold over 400 homes in Carolina Preserve in only 10 months!  

I  mentioned in a previous blog that Chatham County is a Buyer's Market.  Heading into the busy spring rush Chatham County is still considered to be a bargain however prices are rising year over year.  The table below indicates year over year pricing for each property type in Chatham County through Q42006.  

If you're looking for land and a lot of home for your money this might be a good option for your family.  Please let me know if I can help you find the perfect home.

If you're looking for a great location central to Research Triangle Park, shopping, dining, and the airport look no further than Brier Creek.  This 2,000-acre master planned community developed by Toll Brothers in Raleigh is known for its country club lifestyle, appealing residential neighborhoods, shopping, dining and entertainment. 

This location is just off of I-540 and I-70 and came into existence around the time the first section of I-540(the outer loop) opened.  It's unique in that it is convenient to not only Raleigh, RTP and the airport but also the surrounding towns of Durham and Chapel Hill.   

The shopping center, Brier Creek Commons, offers the best of retail stores in the area.  Developed by American Asset Corporation it has the large anchor tenants along with smaller specialty shops.  For example, Target, Pier 1 Imports, PetSmart, Total Wine & More, Dick's Sporting Goods, and others are just minutes away from the residential community. 

Dining options are also plentiful-28 restraunts are located in the vicinity.  Some popular choices include Chili's Grill and Bar, Fujisan Japanese Steakhouse, Johnny Carino's County Italian Restraunt and Brasa Brazilian Steakhouse to name a few.  There is even a movie theatre called Brier Creek Cinemas on hand. 

From a residential community perspective the choices range from luxurious townhomes to transitional and estate homes in a variety of styles and sizes.  Schools are always important so Brier Creek Elementary has just opened in close proximity to the neighborhood.

If you are looking for a neighborhood with lots of amenities but would also be a good investment(Last year this neighborhood was the fastest appreciating neighborhood in the Triangle)-Brier Creek is a great option with lots of choices for everyone's tastes. 

So what constitutes a Luxury Home in the Triangle?  Next time I'll focus on the properties themselves.  Today I thought I'd write about the market in general.  This market is defined as having residential housing priced at $500,000 and above.  

• Did you know over 144 homes over $1 Million sold in the Triangle in 2006 alone.  Homes over $1M sold grew by 35%!
• There were 1,200 closings of luxury priced homes in 2004, 1,500  closings in 2005, and 1,9000 in 2006.  The market grew by 25% compared to 2005. 
• Even though sales are higher, inventory is up 45% in this segment.  

So, where are these buyers coming from with all that cash?  The Top 4 Counties in the United States that sent buyers to the Triangle: 

1.  
   1. Fairfax, VA
   2. Cook, Illinois
   3. Los Angeles, CA
   4. Suffolk, NY

The average % per year gain for a luxury priced homes has been 7% relative to all housing types at 5.63%.  The Subdivision with the greatest appreciation was Country Club Hills inside the beltline(ITB).  

What section of the Triangle is seeing the most Luxury Home Buyers?

• 25% of all luxury homes closed occurred within the North Raleigh/Wake market.  Cary/Apex/Morrisville is second at 18% and Chapel Hill/Carrboro is third at 12%.  

I find this number interesting considering the overall pricing of real estate to be higher in Chapel Hill.

What developments have seen the most amount of luxury home buying activity?* 

1. Brier Creek
2. Wakefield Plantation
3. Cary Park
4. Highland Oaks

*Based on homes closed.

As mentioned earlier supply of inventory has increased substantially throughout the Triangle.  The area with the least amount of inventory included Chapel Hill/Carrboro with an average supply of five months.  The area with the highest amount of  Luxury Home Inventory was Chatham County w/an average of fifteen months of inventory.

I recently received my Seniors Residential Estate Specialist(SRES) designation.  Prior to my designation, I thought I knew a lot about Seniors.  I have two sets of elderly grandparents that have equally high needs in terms of their retirement.  One set lives in Florida and my Grandmother lives in Tennessee.   

I have found, though, that many Seniors living in Florida are fed up with the Hurricanes and high cost of insurance.   Many of the Florida Seniors are moving "Half Back" meaning they don't want the high cost of real estate in New York or the high cost of homes and insurance n Florida.  Examples of areas of Seniors that are relocating from Flordia that I have worked with  come from New Jersey and New York. 

Two active adult retirement communities under development where I live and work as a Realtor/Broker are attracting droves of buyers. At Carolina Preserve, contracts were signed on more than 100 homes during the first 10 days of sales in May. In fact, sales are so far ahead of projections the next delivery on homes is scheduled for January 2008.   

Another community with low maintence options not to be outdone is the Martha Stewart Homes by KB Homes. Twin Lakes will have 650 homes at buildout and they have a special section being built in the Fall of 2007 with 45 ranch homes. 

Many Seniors are looking for options like Del Webb by Pulte Homes.  These homes are "Senior Friendly" and take into consideration what Seniors are looking for.......

If only they didn't have to wait............