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

I was out at Carolina Preserve at Del Webb last week for a broker event and I thought I'd provide the Active 55+ Community with an update on what's going on at the Carolina Preserve in Cary, North Carolina.  As I've explained in previous blogs, Carolina Preserve is in Phase II delivery for the neighborhood.  Homes pre-sold in June 2007 delivered in March of 2008.  Phase III deliveries for the Cardinal and Dogwood Collections are scheduled for March 2009. What a gorgeous entrance to the community!! Before I provide more updates you may want to check out the recent press on the popularity and demand for Active 55+ Communities in the area.   

As I've also discussed, there are three collections at the Carolina Preserve.  The Cardinal Collection being the smallest, The Dogwood the mid-range, and The Emerald being the largest.  At this point, Carolina Preserve is closing out the Emerld Collection  for Phase II and they have 16 opportunities with great incentives on the specs that will be ready in September/October.  This photo I've attached is of the model homes that are representative of all of the collections and available for visitation. 

Amberly is such a unique community because it is situated in a fantastic  location.  It's one of the few retirement communities in the country that has convenient access to arts, academics, the city, the airport, and the incredible amenities located on site.

Speaking of amenities, I took pictures of the Bradford Hall specifically designed for the Del Webb community.  Bradford Hall will be a 30,000-square-foot gathering place for the residents at the entrance of the community. Amenties will include a fitness area, indoor pool, library, book club, meeting rooms, and workshops.   Outdoors there will be another pool for residents only, sundeck, four clay courts, bocce courts, and a putting green.  

What an incredible facility for the Seniors.  In addition, Carolina Preserve residents have access to the other community pools and facilities for their family.  See the video I took of the amenities on 7/10/2008. 

Thanks for visiting.  I'd love to help you find the perfect 55+ Community. You can also see my Top 10 Triangle Active 55+ community list by linking here.  

Durham has always been a mulit-cultural town.  What most residents don't realize is that Durham is full of things to do with art and culture It's time to get the word out about all of the neat things to do in Durham.  I thought I'd write today about some of the cool things to do annually in Durham.  We've missed most of these events this year but you can mark your calender for next year!

1.  Duke Children's Classic - This is an annual celebrity golf tournament held at the end of May.  2009 will be the 36th Anniversary.  The festival is renowned and attracts some top celebrities including Gerald Ford, Arnold Palmer, Bob Hope, Frank Sinatra, Jay Leno, Michael Jordan, Dinah Shore, and Jeff Foxwothy.

2. Bimbé Festival - In West Africa, Bimbe is a harvest festival, during which villagers gather to give thanks and praise. In Durham, Bimbe is a celebration of the diaspora and its cultural underpinnings from the Mother Continent. The two day event May 17th and 18th will feature gospel, reggae and rap music, storytelling, dance performances, arts and crafts, and street-side fun. 

3.  American Dance Festival  presents the most cutting-edge modern dance companies in the nation, and the world, in concert, as well as a full palette of special events and classes for dance students, dance educators, dance historians, and just plain fans.  The festival lasts for 6 weeks from early June to mid-July. The 2008 season will run for six weeks from June 5, 2009 - July 19, 2009 .

4.  Festival for the Eno - Largest fourth of July get together in the State.  This event features over one hundred performers on five stages, Tours, Demonstrations, Storytelling, Workshops, Exhibits, and Readings on the banks of the Eno River.

5.  Bull Durham Blues Festival - Largest blues gathering in the state for over a decade.  This one takes place September Sept. 18-20th (you haven't missed it yet) at the Durham Athletic Park. The festival features some of the best and most well-known contemporary blues artists today. 

6. Centerfest - Hosted by the Durham Arts Council is one of North Carolina's largest street festivals with two-days of visual and performing arts on the streets of historic downtown Durham. This year's festival takes place Septemer 20-21, 2009. 

7. World Beer Festival features more than 300 Beers and 130 World-Class Breweries in one place at one time! It is held at the Historic Durham Athletic Park in early October. This year's festival will take place October 4, 2009 . There will be local restaurants on hand and different bands playing throughout the day.

8. Taste of Durham Food Festival will be held at the Imperial Center on May 23, 2009 11am-7pm in downtown Durham. The annual food festival features samples from the best restaurants in Durham and great live music. Here is a link to the map of the venue.

9. Full Frame Documentary Film Festival is one of the United States' premier documentary film festivals. The event takes place over the course of four days each spring at the Carolina Theatre. It opened in 1998 and has grown tremendously since then. The festival is renowned for its presentation new documentaries as well as panel discussions, seminars, question and answer sessions and the overwhelming support it has garnered from movie makers as well as the general public. Next years event will take place April 2-9, 2009.

I moved to the Triangle in 1991 and have lived in Cary since 1994. I'm practically a native.  I've watched Cary blossom  into and established and well planned community.  Here are some of the reasons I love to call Cary, NC home! 

Location & proximity to Research Triangle Park

Many of the Triangle area residents commute North into the RTP (Research Triangle Park) area rather than downtown Raleigh.  Now that the widening of two major alternative routes to I-540 (HWY 55 and Davis Drive) has been completed the commute into RTP is a quick 10-15 minute drive to the major employers in the area.  Cary is also a quick commute to the RDU Airport and the 3 Major Universities in the area.   

The Great Outdoors

Cary's land-acquisition ordinance requires builders to donate land to the city's Parks and Recreation Department based on the number of houses that will be built. Currently, Cary has 20 city parks, including the Fred G. Bond Metro Park and Hemlock Bluffs Nature Preserve. There's also the Kids Together Park with a large playground. In addition to community swimming pools, tennis courts and some of the finest golf courses in the area, these green spaces are what make people from all over the country want to call Cary home.  There are also plenty of public sports venues around town including Cary Tennis Park, Triangle Aquatic Center (TAC), and the USA Baseball Park. 

Highly Educated Community & Great Schools 

Cary has the highest median household income in Wake County ($89,623), and more than two-thirds of Cary residents hold a college degree.  Cary is also been touted as having the highest number of Phd's in the country.  Cary schools are a part of the Wake County Public School system and continue to rank as some of the highest rated schools in Wake County.  Many are still on the traditional school calendar also.  

Planned Community

Planning, planning and more planning is Cary's adage. It takes but one drive around the Maynard loop, which circles Cary, to understand the vision: planned neighborhoods with large homes, two-car garages and well-groomed lawns are scattered throughout the town.  National Geographic even wrote a great article on Cary a few years back titled "All roads lead to a cul-de-sac in this mushrooming high-tech hometown of transplanted Yankees. A friendly game of bunco, anyone?"  

Business

Cary is home to such leading companies as SAS Institute-the largest privately held software company in the World.  American Airlines and John Deere also have a big presence. However, unlike many towns, commercial development is regulated much the same as residential development. While other Triangle towns have rules governing residential neighborhoods, Cary insists on tasteful commercial buildings that match the surroundings. 

Downtown Cary 

Downtown Cary is undergoing a major revitalization over the next few years called Cary Streetscape.  The goal is to preserve the days gone past but bring in businesses and shops that allow residents to live, work, and play in the downtown area.  This is also where Lazy Daze Arts and Crafts Festival is held annually, which is considered one of the finest festivals in the state. Page-Walker Arts and History Center, formerly the Page-Walker Hotel, which was built in 1868 to serve train passengers is also located in the downtown area and a great destination point. 

Cultural & Performing Arts  

Jordan Hall Arts Center  features an art gallery for monthly exhibits that promote and support local artists. Studio time for potters, painters and portrait artists is regularly scheduled. The center is also monthly meeting place for The Fine Arts Leaque of Cary.  If you enjoy art on a larger scale the North Carolina Museum of Art, in Raleigh, is one of the finest art galleries in the Triangle.  For performing arts Koka Booth Amphitheatre is located in the Regency area of Cary, has regularly scheduled concerts and venues, and is a fantastic way to enjoy an evening outside in the summertime.   

Medical Care

WakeMed is Cary's top notch hospital and is located near Tryon Road and Kildaire Farm Road.  WakeMed has helped to serve the growing population's need for, and access to, convenient medical care. 

Accolades 

The list keeps growing every year.  Money magazine is in love with Cary and the Triangle in general.  Cary was recently named best place to live in the country and the hottest town on the East Coast.  Click here to watch Kiplinger's Video on why the Raleigh-Cary Area is ranked the #2 Best Place to Live in 2008. 

Growth of Cary 

Attention to detail has proved very beneficial when dealing with the population explosion in Cary. In fact, Cary has doubled its population every decade since 1960.  Cary is the seventh-largest municipality in the state and has grown from 43,000 in 1990 to more than 120,000 today.

To handle the expansion, city leaders and developers carefully control development and have built an infrastructure to absorb the growth. In fact, it wasn't until recently that the voice to slow down Cary's growth was heard. Lately, Cary officials have been developing innovative growth controls. Some of these include requiring developers to prove there are enough roads and classrooms to accommodate the newcomers, as well a $70 million expansion of the water treatment plant that serves Cary and nearby Apex.

If you are thinking of relocating to the area feel free to contact me or send me an email with any questions you might have on the area. 

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Sunday, August 17, 2008
Koka Booth Amphitheatre, Regency Park, Cary

Jim Valvano is a legendary icon in the Triangle.  Ever since he succumbed to cancer in 1993 his family has carried on his legacy raising awareness of cancer and cancer research.  Earlier this month I wrote about the Jimmy V Rackets for Research which is a great event and a tremendous success.  Tomorrow the Jimmy V fundraisers continue with the 3rd Annual Jimmy V Ride for Research and Cary Cycling Celebration.  They are expecting over 500 cyclists so watch out for traffic delays and cyclists near the Regency area tomorrow. 

Other options for family members include a bicycle rodeo for kids aged 6-12 and family fun tours in the afternoon. 

I hope you enjoy the fun!

Click here for a video about the event.

I recently sponsored Apex, NC with Localism.com.  As a part of my sponsorship I think it's important to provide a few distinct elements for the community:

1. Area profile
2. Why should you choose Apex, NC for your next home?
3. A look at what's currently going on in the real estate market in that area.

I've taken care of the 1^st two items so now it's time to take a look at the real estate market in Apex. 

It's a great time to buy a home in Apex!  Homes are selling in Apex.  The current crop of sellers that are motivated have been more flexible on price.  Not like in other parts of the country but we are starting to see some wiggle room.  With the current level of inventory sellers that are eager to sell really have to have their homes in tip top condition and be prepared to negotiate a bit. What might be shocking to families coming from other areas is that our average List/Sales Price Ratio is still ~ 98%. 

That said, let's take a look at the current numbers in the area for Q22008:   

*The data above is based on market data for Q22008. 

The higher price ranges have really been hit with the slowdown in the market and the current mortgage crisis.  As you can see from the table above the current supply in the $500k plus range starts at 10+ months.

The market dynamics have shifted from a strong sellers market in 2007 to a buyers market in 2008.  The average supply of homes in Apex is 6 months and DOM at 86.  Although the inventory is up and sales are down (23% in Q22008) pricing is still holding to the current values.  The reason this is holding true is due to the fact that our area did not have the wild price fluctuations that other areas in the country have experienced. 

In general the Triangle area market is seasonal.  Many families interested in locating to the area move to the Triangle before school starts.  After that, the market slows down until the end of December and then we pick up again around the 1st of the year heading into the Spring Market. 

Besides the fact that the market has shifted there are a number of other reasons you should consider buying a home in today's market:

•  Great selection
•  Interest rates are at historic lows
•  Tax benefits of owning a home
•  Home Equity benefits
•  In a buyers market you are the driver
•  FHA financing programs available
•  By using an experienced Realtor you have the added benefit that can negotiate on your behalf.

For more information visit my website or contact me directly for more information. 

Earlier today I wrote about why you should consider Apex for your next home.  There are a number of reasons why so many are relocating to the Triangle area and Apex in particular.  The downtown area has been revitalized and there are so many community events available to the families in the area.  That said, the Apex Art Council (AAC) has done some great planning to beef up the cultural aspects of the town. 

With that in mind, the council is sponsoring the 2nd Annual Salem Street Arts Festival on October 4th from 9am until 4pm.  There is so much to see and do that it would be easy to spend the whole day at the festival.  Here is a sampling of some of the activities that will be going on during the event:

• Artists Booths featuring local artists.  Many of them will be demonstrating their art form too!
• Musical artists, bands, and creative theatre performances
• All sorts of artwork on display including professional to kids creations
• A recycled materials station
• A booth for kids under 16 to sell their own art creations
• Roaming performers that will be milling about the crowd

It's so exciting to see the council's hard work become a reality for the community.  Make sure you stop by this great cultural event for the whole family.

If you like the idea of living in a town with less stress and a "small town" atmosphere then you should consider Apex for your next home.  While the community is much like it was long ago it has now blossomed into a fantastic town with great local shopping, new residential areas surrounding the town, and direct access to major employment in the region.  

So, where did the name Apex come from?  The name "Apex" was adopted because the community was the highest point on the Chatham Railroad between Richmond, Virginia and Jacksonville, Florida. The Apex town motto, "Peak of Good Living" came from the fact that the town was the highest point on the Chatham Railroad.  

Location & proximity to Research Triangle Park - Many of the Triangle area residents commute into the RTP (Research Triangle Park) area.  Now that the widening of two major alternative routes (HWY 55 and Davis Drive) has been completed the commute into RTP is a quick 20 minute drive to the major employers in the area.  Apex is also a quick commute to the  RDU Airport and the  3 Major Universities in the area.     

Downtown Area   The downtown area has undergone a major streetscape renovation project that has successfully restored the downtown area and recaptured its historic flavor. This revitalized downtown district is on the National Register of Historic Places and is considered one of the best examples of a replicate turn-of-the-century railroad town. The stores in the downtown district now house new shops and businesses and many  still have the same look from long ago.    

Community Events - Most of the community events center around the downtown area.  The Apex Historical Society is host to a number of the local events including the Annual Peak Week Festival in May, 4^th of July downtown, Christmas on Salem Street, and the Annual Holiday Home Tour.  You can check the local calendar for more detailed events here.  

The Great Outdoors - When you think of North Carolina you think of tall pine trees, lakes, and enjoying the great outdoors. The main park in Apex a 160 Acre community park called Apex Community Park.  There are 3 Baseball Fields, 2 Batting Cages, 2 Soccer Fields, 3 Volleyball Courts, 6 Tennis  Courts, 4 Basketball Courts, children's playground and swings, over 3 miles of nature and fitness trails, picnic areas, shelter, and the 50 Acre lake.  Apex also has seven other area parks in the town itself with varying amenities.  There are also several greenways that are currently under construction with some phases already completed including the Beaver Creek Greenway, Haddon Hall Greenway, and Becket Crossing Greenway.   

Performing Arts   Apex has established their very own arts council (AAC) with the belief that the arts contribute to high quality of living and are an essential component to a vibrant economy.  The AAC has also played a strong role in the creation and opening of Apex's very own Academy for the Performing Arts and Cultural Center to further the artistic development of the community.  

Shopping Whether it's a quaint boutique or a national chain Apex has plenty of shopping and dining.  The downtown area is home to several quaint local boutique stores where my 17 year old daughter Jordan loves to shop.  If your on a tight budget then you may want to venture over to Beaver Creek shopping.  They've got a Super Target, Lowes, Circuit City, dining, and much more.  

Great Schools Apex is a part of the Wake County Public School System which is the 21^st largest school system in the country.  Wake County schools are consistently ranked as some of the best public schools in the country.  All of the Elementary and Middle Schools in Apex have gone to a year round school calendar to accommodate the growing number of students transferring into the area every year.  

Great Housing Market w/Reasonably Priced Real Estate - An average priced single family home in Apex will cost ~$250,000 with 3 Bedrooms, 2.5 Baths, and a Two Car Garage.  Affordability is a key factor for new home buyers wanting to move into one of the best places to live in the country.  

Not to mention that the experts, Money Magazine, calls Apex, NC the #14 Best Small Town in America. 

Time certainly has changed since the boom market of 2007.  Year-to-date prices have declined in all areas of the Triangle except Wake County.  We're seeing longer Days on Market (DOM) and total area sales down 29%.  However, Durham is still a bargain compared with the other areas around the Triangle. Through 2007 the average sales price was $190,000 compared to $252,000 in Cary and $330,000 in Chapel Hill.

For most areas across the United States we have seen declining prices, fewer sales, and increased days on market.  Overall inventory across the US stands at over 11 months.  In the Triangle we've seen a slow down and increased inventory at 7 months but nothing like other areas in the country. 

This year Bankrate.com and others indicate that the Triangle Market is one of the healthiest markets in the country.  Our biggest challenge is families trying to sell their homes in other areas to move here.  The bottom line - the market is moving.  However, in some areas we are unfortunately seeing properties sit on the market and prices decline.  I still think that this is a great time to buy.  Interest rates remain at all time lows.  Prices are the same as last year and in some cases have come down, especially in the luxury home market. 

Here is a recap of some key elements in the Durham Real Estate Market: 

• Inventory is stable  +5% Resale, New Construction +15%
• Supply = 7 months compared to 11 months nationwide
• Showings 19% Decline from June of last year

 Sales

• Contract pending levels off 21%; TMLS contract pending sales were off 26%
• Closings are off 29%
• Average DOM = 80; New Construction = 136 TMLS average = 02

 Appreciation

• Up 3.97% vs.  Nationwide decline of 4.8% and Southeast decline of 1.2% 

Subdivisions

• Woodcroft
• Hope Valley Farms
• Grove Park 

List to Sales Ratio 96%

One of my favorite magazines posted an article on how downtown Durham has a lot of activity going on, including arts, culture, and new restaurants.  It's worth a read.

Overall expect a bumpy ride for the next 8-15 months but we are poised for stabilty and future growth. 

My only sister, Jennifer, is coming to visit this week with her two little boys all the way from San Antonio, TX.  Since I only have one daughter that's seventeen I thought I might need to check around to find out Things to Do with the Kids in the in Triangle.  I'm a bit rusty in this department other than advising my clients where to visit while they are in town. One of the things I really like about the Triangle is that there are so many things to do outdoors, especially in the summer time. It's time to plan my week with the boys.  It's going to be tough keeping up my business, visiting, and entertaining but it will be worth every minute.   

 Cary 

• Bond Park is located just around the corner from my home off of High House Road. This stop is definitely on my list.   There is a great place to have a picnic in the Kiwanis Shelter.  Our next stop will be a trip to the Lazy Daze playground.  And, then we'll head over to the paddle boats, sailing, and canoes.  919-469-4100.
• Bullwinkles looks like another cool place to go to with the kiddies. It's in Cary w/a Raleigh address.   Closed Monday and Tuesday.  919-319-7575 
• Dog park and Sk-8 Cary skateboard park.  I take my dog Maggie to the Cary Dog Park off of Maynard next to Godbold Park on a regular basis.  Admission is $40/year and great fun for kids and your pets.  Sk-8 Cary is a full fledged skate park for skateboarders! 
• Ice House I used to take my daughter here when she was little.  It's very close to Jellybeans and Bullwinkles.  919-460-2756
• Hemlock Bluffs Nature Preserve -   A great place to take a quiet and peaceful stroll through the wilderness, right in the heart of Cary.  2616 Kildaire Farm Road 919-469-4601
• Railhawks  Soccer Games.  The Triangle has its very own professional soccer team.  They play at the Wake Med Soccer Park in Cary from May through July.  Maybe I'll be able to take the boys next year.  201 Soccer Park Drive in Cary.   

Chapel Hill

Morehead Planetarium and Science Center Educational and entertaining programs for all ages that teach and explore the science of the universe.  250 E. Franklin St. 919-962-1247 

Durham

• North Carolina Museum of Life and Science is one of our personal favorites! They have a butterfly house, lots of real animals and of course, a museum packed full of fun things to do!  The Butterflies are released in at 11am and 3pm.  The butterfly conservatory is the largest on the East Coast. My sister's boys will love the daily feeding of spiders, poison dart frogs and others fed their daily meal.  433 Murray Ave 919-220-5429
•  Durham Bulls  If you want an inexpensive night out for your family, head to the park. There is plenty of entertainment in between innings and things for kids to play on during the game - rock climbing wall and big puffy slide to slide down. The tickets are inexpensive and the game is, well, just your regular all American baseball game. 

Raleigh

• Adventure Landing Miniature Golf, Laser Tag, Go Karts, Arcade, and Batting Cages.  Capital Blvd 919-872-1688
• JC Raulston Arboretum Part of the North Carolina State University, this eight-acre garden contains a wide variety of cold hardy temperate zone plants. 919-515-3132
• Pullen Park  A great place for young kids  with a beautiful old carousel, a train that goes through the park, a kiddie boat ride, and even paddle boats on the pond/lake. There's also a little concession area. It is spacious with lots of open space for running, playing ball, etc. There are two large playgrounds & several picnic pavilions, too.  Adjacent to Pullen Park is and Arts Center that often has displays and Pullen Pool (indoor, year-round aquatic center.) 4301 Beryl 919-831-6468
• Frankies Fun Park
  Jellybeans Super Skate Center  This is great fun for the middle school crowd.  Also a big hit for Birthday parties.  There are two locations in the Triangle.  One in Cary and the other in Raleigh. 
• Lake Johnson Park  I personally like to jog around this lake but it's a bit too long for the boys. Lake Johnson has plenty of other amenities including boating, picnic shelters, and a consession are for us to cool off from all of the fun in the sun.  4601 Avent Ferry Road 919-233-2121
• Marbles Kids Museum i s a hands-on, interactive destination that inspires children to be creative thinkers, active learners and confident individuals in today's world. There are five galleries, two outdoor areas, and plenty of activities.  Let's not forget about the IMAX Theatre which is the only 3D capable IMAX theatre in North Carolina.  I plan on taking the boys to see Bugs! which is playing.  They'll love it! I'm not sure I'm ready for "bugs" in 3D.  Raleigh 201 E. Hargett 919-834-4040 
• State Capitol - One of the claims to fame of the North Carolina State Capital Building is that it is the most haunted of all state capitals. Today it's the home of our governor's office.  1 E. Edenton 919-733-4994
• Umstead State Park Sandwiched between downtown Raleigh and the airport, this oasis of green features a stand of 300+ year-old hardwood trees, more than 32 miles of hiking, biking and horseback riding trails, camp sites and lots more for nature lovers. There is an entrance off of Harrison Avenue and another one on Glenwood Avenue.  8801 Glenwood Ave  919-571-4170
 Marbles Kids Museum is a hands-on, interactive destination that inspires children to be creative thinkers, active learners and confident individuals in today's world. There are five galleries, two outdoor areas, and plenty of activities.  Let's not forget about the IMAX Theatre which is the only 3D capable IMAX theatre in North Carolina.  I plan on taking the boys to see Bugs! which is playing.  They'll love it! I'm not sure I'm ready for "bugs" in 3D.  Raleigh 201 E. Hargett 919-834-4040

North Carolina Museum of History  The trip to the History Museum will be the educational stop of our trip.  The museum focuses on pre-Colonial to the present-day with an emphasis on sports, folk life and women's issues. 5 E Edenton 919-715-0200

North Carolina Museum of Natural Sciences off of West Jones Street in downtown Raleigh.  Free Admission.  The boys just love dinosaurs. The museum has the only-known fossilized dinosaur heart, some of the most complete dinosaur skeletons in the world, and much more.  This museum is also free!!! 919-733-7450

I'm off to plan out the schedule.  I hope I make it through the weekend!

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Triangle Guide to Fun - Arts, Activities, Concerts, Plays, Parks and More

Tax Free Weekend is here!  This year, it is August 1-4. My daughter, Jordan, will be a senior this year and, with the exception of college, this is my last trip to the malls to go shopping for "Back-to-School" before college.  This is a great weekend.  I don't like to shop, and I really don't like shopping at peak times when so many others are shopping. However, I take exception to this weekend.  Even though you only save 7.5%, and it's only on designated items, many retailers that offer goods not on the list match the incentive to get prospecive shoppers through the door. 

Here's a  List Of Items Exempt During The Sales Tax Holiday

• Clothing - Clothing with a sales price of $100.00 or less per item. "Sport or recreational equipment with a sales price of $50.00 or less per item.
• "Sport or recreational equipment" with a sales price of the item is $50 or less.
• Computers with a sales price of three thousand five hundred dollars ($3,500) or less per item.
• Computer Supplies with a sales price of $250.00 or less per item.
• School Supplies with a sales price of $100.00 or less per item.
• School Instructional Materials with a sales price of $300.00 or less per item.

Shop safe.  Do not buy more than you can afford!! And, remember, I have a 17 year old so it's all about the clothes and not the supplies!