Jun. 20, 2007 - Holly Springs, NC Real Estate and Market Conditions

Despite a downturn in the residential real estate market in many areas across the country, the Triangle posted yet another record year in 2006 for new home starts and closings.

From what I can see, the Triangle housing market is in excellent shape through 2007 with a potential for significant housing equity gains, particularly for homebuyers who plan to remain in their house for the long run. In fact, the Raleigh-Cary MSA was rated #15 in appreciation in the country for 2007 by a leading housing authority. The Triangle had very favorable home price-to-income ratios and even better mortgage servicing cost-to-income ratios. The latter ratio is currently below the local historical average implying no widespread financial overstretching to purchase a home in the region.

Forbes Magazine named the Triangle Region the #1 region for Job Growth--It doesn't get any better than that. Through June of 2007 overall inventory is flat (more new homes offset by fewer resales) from last year and resales are down 4.5%. We are looking at an appreciation rate of 4.55% which is the highest I've seen in 15 years in this area.

Holly Springs Real Estate - Market Conditions Update: 

The average supply on the market is four months of inventory.

• $100-$300k price range has a supply of inventory of three months or less

• The top appreciating development in Holly Springs is Crescent Ridge at 11.05%

• The top selling neighborhood w/121 sales is Sunset Ridge at an average price of $308,901.

• Other top selling communities in Holly Springs include Holly Glen, Braxton Village, Oaks of Avent Acres, Arbor Creek, and Trailwoods. 

• The average price resale home in this area is $214,000 and the average price new home in this area is $278,000.

Holly Springs, North Carolina Community Profile

Holly Springs is a town in Wake County. As of the 2006 census, the town population was over 15,000, gaining the title of "The fastest growing town in The Carolinas".

It was 1992 before Holly Springs, in line for the spillover from burgeoning populations in Cary and Apex, suddenly boomed. Population increased from 900 in 1992 to an estimated 6000 in 1998.

Holly Springs continues to grow and evolve as the town becomes more accessible for commuters into Research Triangle Park.  Road work that will make this possible includes the new 55 Bypass, widening of HWY 1, and access to the future extension of I-540.  The Town now boasts two public elementary schools a middle school, and the new Holly Springs High School. A Wake County southwest branch library and a cultural arts facility opened in early December 2006. 

One of the most recent focuses for the Town is the development of Commercial Growth in Holly Springs.  The Holly Springs Business Park and other retail establishments are beeing built on a regular basis.  On July 18, 2006, it was announced that the pharmaceutical giant Novartis would be building a manufacturing facility in Holly Springs employing approximately 350 to produce flu vaccines using new technologies. The manufacturing facility will go on 167 acres in Holly Springs Business Park off N.C. 55 Bypass. Construction will begin in early 2007, with the first phase scheduled for completion by late 2008. Novartis' investment would be at least $267 million and eventually could reach $600 million.

Now with a brand new High School, Holly Springs High School ,  Holly Springs has new room for growth. New neighborhoods are to be built near the school, and a strip-mall is being built because of it. Many of the students that attend Holly Springs High School live in the super neighborhood complex of Sunset Ridge , a now thriving home subdivision that has spawned its own private water park, a restaurant, and a whole host of other small businesses. The entire area of Holly Springs has grown tremendously between the years of 2004 and 2006. The town has received a new strip mall with an Ale House style restaurant, a Mexican Restaurant, a Lowe's Foods, a Dollar Tree, and several other fast food chains including Quizno's, and a Chinese food chain. In another area of town, off a main road (Holly Springs Road), a Harris Teeter strip-mall was built with other restaurants and stores opening. A new strip mall featuring a Wal-Mart Super Center is also being constructed off Highway 55. New growth has expanded the population, and growth yet to come will enlarge it even more. Holly Springs is one of the few municipalities that provide team sports directly by the town for residents including football, baseball (served by four professional fields), basketball and recreational soccer. There is also a non-profit challenge soccer league called the Holly Springs Futbol Club. Holly Springs is truly one of the "fastest growing towns in North Carolina".

Jun. 11, 2007 - Tech Savvy Agents Have an Advantage in the New World Of Real Estate

There's no doubt about it.  In the competitive world of Real Estate in a hot market like the Triangle and Cary NC Real Estate Market I have a distinctive advantage!! My background in Business Development, working with customers, understanding consumers wants and needs, and how to "Get the Word out" have helped my business tremendously. 

I have the abiltiy to do things that agents that have been in the business 30+ years do not.  I'm tech savvy, internet conscious, and know how to find real time information on properties that make me a better agent.  I can write a contract in my car on my HP Tablet PC Laptop (see my previous blog on this tool), get signatures, and print or fax the contract to the LA/SA with my wireless printer ON THE SPOT!!! The Triangle Area has some of the most sophisticated and educated workers in the country.  Why not use the Tools of the Trade they use to provide them with a distinct advantage!   Attached is a link to HP's website educating Realtors about the benefits of going mobile which you can find here. 

Why would we ever go back to the old days when agents didn't have the tools we have today?  I know my clients do their homework.  They go to the web and see who has a presence. 

They ask questions like these?

Who does their homework? Who knows the neighborhoods? Who knows how to negotiate the best deal?  My clients know I've got what it takes and choose me time and time again because of my expertise and background.  They know that, in a competitive market like the Triangle's, I have real time information on properties to negotiate the best deal when there are multiple offers on the FIRST day!!

Thanks for visiting and hearing my voice.  Yes, that's my voice and my opinion.  I'd love to help you find the best home for you and your family in the Triangle.  Visit my website or Email me at Tracy@TracySantrock.com for more information.

Jun. 3, 2007 - Raleigh NC Real Estate>>Triangle Design Trends

Jun. 1, 2007 - Carolina Preserve by Del Webb - Construction Update

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, (May 31st), there are three lots left in Phase II for the Cardinal Collection and several in the Emerald Collection.  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.  Attached is a photo of one of the community clubhouses. 

Thanks for visiting.  I'd love to help you find the perfect 55+ Community.  Please feel free to email me at:  Tracy@TracySantrock.com with any questions on buying in this area. 

Jun. 1, 2007 - Triangle Gated Communities

North Raleigh

1. Stone Falls-Off of Falls and the Neuse and Durant.  Currently no homes on the market.  Homes built in 1995-2000
2. Olde Raleigh-Off of Duraleigh Road.  Homes built in 1989-1997.  Stately traditional homesLocated in a beautifully wooded area between Duraleigh and Edwards Mill Road near Rex Hospital and I-40. The Olde Raleigh community features three gated entrances with nightly security service, three beautiful lakes with centerpiece fountains, indoor & outdoor swimming pools, and two tennis courts. .  Resales start in the high $700s.
3. Bay Leaf Farm-
4. Conveniently located off of Six Forks Rd.  Right on ssum Track. At Fork Stay Right on Possum Track. Go Apprximately 1 Mile to Gated Entrance to Bayleaf Farm on the Right. 
5. 23 Homesites total in this community, about 5 left.  $2M-$3M.
6. Greywalls at Trego-Off of Falls of the Neuse and Honeycutt.  Greywalls homes built in 1990's and a few in 2005. Also a few in 1975.  Price point $800s to over $1M.
7. The Barony-North of I-540.  Small community w/29 lots.  Homes start at $1.5M.
8. Linville- 44 Estate Homes w/minimum of 1 Acre.  Prices start close to $2M. New homes by top custom builders.  Community by Creedmoor Partners.
9. Adams Mountain-Large two acre lots outside I-540.  Homes built in the mid 80s to mid 90s.  Prices start in the low $500s to $750s.

Durham

1. Four Seasons at Lattamoor- Gated community in North Durham near Eno River.  Prices in the $200s.  Homes built 1999-2002
2. Hills of Rosemont-Prices start at $2M.  Located off of 751 towards Jordan Lake off of O'Kelly Church Rd. 

Chatham County

1. The Legacy at Jordan Lake-Gated 628 Acre Gated Community adjacent to The Preserve.  Six phases of construction w/463 lots sold to individual buyers.  Buyers have five years to build with a custom builder of their choice.  Planned spa community with an indoor fitness pool, tennis courts, hiking trails and easy access to all the water activities of Jordan Lake. 

Chapel Hill/Orange County

1. Talbryn-Off of Dairyland,  turn right on Union Grove Church Road, and Talbryn is on the right. Mid 90s.  Resale:  $1.5M.
2. The Valley at Governor's Club- Lots of options in this community.  They even have few lots left-you should see those in the land listings I send to you. 

In 1996 Cary and Carrboro passed ordinances banning gated communities.  They were approved because of concerns that such communities were exclusionary and that they could delay the responses of fire trucks and ambulances.