Durham Among The Top Healthiest Housing Markets

Data recently released by RealtyTrac is full of good news for the Durham area. ReatlyTrac reviewed foreclosures on U.S. housing markets with at least a population of 200,000, and found Durham to be one of the U.S. healthiest cities to live in, in regards to low foreclosure rates.

In May of 2010 Durham had only 78 recorded foreclosures, which was a whopping 21.21 percent decline from April, 2010. Year after year the decrease in foreclosures in Durham has been impressive with a decline of 56.42 percent. The current foreclosure rate for Durham has improved to 1 in every 2,772 homes. With this type of foreclosure rate per home rate, it makes Durham the top best places over the other five North Carolina metro areas. The area that encompasses Durham, Orange, Chatham, and Person counties saw a decrease from 18th in most foreclosure in April to being 12th in May.

The Raleigh-Cary area is also fairing well when it comes to foreclosure rates. There was a noted decrease by 11 percent from the month of April to May. However, with a total of 590 foreclosure notices sent out, it was still an increase of 35.63 percent over May 2009. Raleigh-Cary ranks 128th out of 203 metro areas ranked for foreclosure rates with 1 and every 609 homes facing foreclosure.

Out of all the counties in the Triangle area, Wake County fared the worst. One in every 673 homes was facing a foreclosure. Orange County posted the lowest with 1 in every 6,131 homes facing foreclosure.

Even though home foreclosures are down in the Durham area that does not mean that there is not a deal to be had. If you are looking to purchase a new home or sell your existing home contact Marti Hampton and her team at RE/MAX One Realty to find the home of your dreams.

Changes to Forclosure Program Expected in North Carolina

New Bill Offers More Foreclosure Notice to Wake County Home Owners

During these tough economic times, you more than likely have heard of someone or know someone personally in the Triangle area who has lost their home to foreclosure. A Wake county senator by the name of Dan Blue is doing all he can to help all home owners of North Carolina get a fair deal when it comes to facing home foreclosure.

Sen. Blue is sponsoring a bill that would change the process for home foreclosures. Current legislation requires only pre- foreclosure notices be sent to those on subprime home loans and to the North Caroloina Administrative Office of the Courts. With the new changes that have been proposed the pre -foreclosure notice would have to be sent to all home loans, not just those under a subprime, which would allow the home owner more time to seek a loan modification and less chance of losing their home.

Another new thing added to this bill is that mortgage services would have to pay a $75 fee when filing a pre-foreclousre notice. The money the state would receive from these fees will then in turn build a state Home Foreclosure Prevention Trust Fund under the Office of the North Carolina Commissioner of Banks. It is estimated that in 2010-2011 fiscal year $1.4 million will be put into the fund with it increasing to $2.29 million the year after.

This bill is still currently in the Senate and if passes will still have to pass in the House.

Now is the time to buy a home in the Triangle area, contact Marti Hampton and her team at RE/MAX One Realty to help you find the perfect home.

Commuter Rail in Triangle's Future?

Many feel the Triangle area is lacking in transportation options, so there have been many different ideas proposed to relieve this problem in the years to come. With the population in the Triangle area growing and the future population growth expected to rise, it is essential that something be done to help the flow of traffic. International transportation planning consultant, Steer Davies, was hired by The North Carolina Railroad Company (NCCR) to do a study on what motion rail could do to improve the Triangle area. The findings of the study were released recently at the Progress in Motion rail conference which was held in downtown Raleigh. Does this mean a commuter rail is in the Triangle's future?

In this proposed study the rail line would travel through Raleigh, Durham and Cary. Chapel Hill will be left out, as the report found that there was just not enough demand from this area. The study showed that there is great ridership potential between downtown Greensboro and Burlington and in the greater Triangle area from Princeton to Durham.

This study was done as a follow-up to the 2008 NCCR study that found it would be easy to operate a commuter rail service on the same tracks that carry the Norfolk Southern freight trains and the Amtrak passenger trains.

Getting from one place to another can sometimes be a feat in itself, but the Triangle area is trying to make it easier for all residents to move about. Wouldn't you love to live in an area that has its citizens in mind? The Triangle is just such an area. If you are interested in buying a home in the Triangle area, now is the time to contact Marti Hampton and let her and her team at RE/MAX One Realty help you find a perfect home in Raleigh or the surrounding area.

Raleigh Living Offers The Best Quality of Life

Life in Raleigh provides many opportunities for its residents such as high tech jobs, excellent education and economic stability. Recently a new study by portfolio.com found Raleigh to be the major metropolitan area that offers the best quality of life in the United States. No longer are cities such as Los Angeles, New York City and Chicago at the top for providing the best quality of life.

What makes Raleigh stand out?

• Raleigh has experienced a rapid rate of growth. The population in Raleigh has increased by 37% since 2000.
• New homes are abundant in the area. Over 50% of new homes in the area have been built since the year 1990.
• Raleigh offers a wide supply of high-level jobs. The report showed that 44% of Raleigh’s workforce had management or professional positions.
• Not only are there many high-level jobs in the area, but the workforce is well educated. 41% of those in the workforce held at least a bachelors degree.

Portfolio.com, when deciding on what metropolitan areas to assess, chose 67 areas that had populations greater than 750,000. The data that they used to come to the conclusions they reached came from the U.S. Census Bureau’s 2006-2008 American Community Survey.

Now is the time to make the move to live in Raleigh so that you can have the best quality of life in the United States. Let Marti Hampton and Marti’s team at RE/MAX One Realty help find you the home of your dreams.

Local Triangle Group Expands Its Business

Triangle Capital Corporation based out of Raleigh has announced that it has received notification from the Small Business Administration (SBA) that their application for a second Small Business Investment Company (SBIC) license has been approved. With this new license Triangle Capital Corporation will be able to provide up to $75 million in additional SBA debentures to fund future investments.

Who is Triangle Capital Corporation?

Triangle Capital Corporation is a publically traded, internally managed business development company. They provide custom financing solutions for lower middle market companies located throughout the United States.

Typical Investment:

$5 to $15 million for
• Leveraged Buyouts
• Management Buyouts
• Recapitalization
• Growth Financings
• ESOPs
• Acquisition Financing

The approval of this second SBIC license is great news for the Triangle area. SBA debentures are a highly sought-after source of investment capital, and a great fit for the type of investments that Triangle Capital Corporation makes. Under the Investment Company Act of 1940, Triangle has chosen to be treated as a business development company. Triangle Capital Corporation is required to meet a series of regulations including those of NASDAQ, as well as federal and state laws.

If you are interested in buying a home in the Triangle area, now is the time to contact Marti Hampton and let her and her team at RE/MAX One Realty help you find the perfect home.

Triangle Residents Want Better Transportation Options

Triangle residents want better transportation options and are willing to have an increase in taxes to help fund public transportation in the area, according to a survey done by Fallon Research out of Columbus, OH. The survey was done for the Regional Transportation Alliance, a nonprofit Triangle business group who lobbies for transportation improvements in the Triangle Area.

The phone survey was done in early March and 58% of those polled said they would vote in favor of a half-cent increase in local sales tax to pay for a network of rail transit and more buses. The surprising part of the survey is that a majority of people polled do not currently use public transit, but are in favor of increasing it in the Triangle area to benefit others who do utilize it.

Poll Results:

• 9% use public transit and 69% do not use it.
• 23% of public transit users are between the ages of 18 and 29.
• 32% of those polled would use a new expanded bus system frequently.
• 43% said they would use a train system if made available.
• 29% of those polled believed that travel between Wake, Durham and Orange counties should be the highest priority for an improved transit system.
• 27% of people polled felt that travel to Research Triangle Park should be the highest priority.
• 5% of those surveyed felt that more public transportation choices would improve the area's quality of life.

Elected officials in the Triangle area are in the process of developing a long-range plan for an improved transit system. It is expected that in 2011 or 2012 a local referendum on whether to increase sales tax to fund transit will be held.

If you are interested in buying a home in the Triangle area, now is the time to contact Marti Hampton and let her and her team at RE/MAX One Realty help you find a perfect home in Raleigh or the surrounding area.

Businesses Play State Against State For the Best Deals

Many in Garner are devastated at the news that an agreement could not be reached to keep ConAgra operating in Garner. However, businesses play state against state for the best deals so ConAgra will be relocating to Troy, Ohio.

Why ConAgra Moved
The state of North Carolina went to battle trying hard to save the plant, but was no match against the state of Ohio which offered up to $9.58 million in incentives to ConAgra to relocate to their area. The state of North Carolina only offered $2.2 million to ConAgra to keep the Slim Jim plant in Garner.

Deputy Commerce Secretary, Dale Carroll, understands that at a time with high unemployment every effort to keep any part of the plant open is necessary, but their goal proved unattainable. North Carolina was just not prepared to give away such a high tax base as was Ohio, who worked out a plan with ConAgra to waive all property taxes and 70% of employment taxes for 15 years. Beasley said, “It’s hard to compete whenever Ohio gives away the whole ball park.”

When the move takes place the new ConAgra plant in Ohio will only operate with 190 workers who will not be part of a union, compared to the larger numbers of unionized workers in Garner.

Gift to Garner
As a gift to the town of Garner, the ConAgra factory and the 96 acres that it sits on will be donated, along with $500,000 to help market the industrial property. Tony Beasley, Garner’s Economic Development Director, has high hopes for what will be done with the plant once ConAgra relocates. Beasley’s goal is to create at least 440 jobs or more in the former ConAgra property in years to come.

If you are interested in buying a home in the Triangle area, now is the time to contact Marti Hampton and let her and her team at RE/MAX One Realty help you find the perfect home.

A Piece Of History Not to Be Forgotten

Even though decades ago Baxter/Liberty Mill in Clayton stopped producing textiles, to a local man named Jack Lee the area around the mill is a piece of history not to be forgotten. Jack's father, Alder Milton Lee, worked at the mill and so did his mother. As a child growing up Jack Lee lived in one of the cottages that were built by the mill and sold to employees. Recently, a local genealogist named John McPhail was surprised to discover while working on the 1930 census data for the Johnston County Heritage Center, that Liberty Mills was a separate place within Clayton Township. Did you know that crossing Mulberry Street toward the west side of town would have meant at one point in time you were entering into a different unique community?

Liberty Mills and the Village Surrounding It
After more research Mr. McPhail learned that the mill opened in 1907, and the area around it was later called Cotton Mill Hill, which was even later named Bartex when the company changed the name. Mr. Lee looks back fondly to the days of his childhood that he spent growing up here and remembers it as,”It was like a little community within itself. Everybody knew everybody, and everybody knew everybody’s child.”

Mr. Lee himself may have had what now resembles an average childhood playing with friends growing up; however, his parents’ generation had it quite different. At the young age of seven, children were allowed to work at Liberty Mills, and Mr. Lee’s own father began work there at the age of nine. Working in the mill was dangerous with many unsafe conditions for both children and adults alike. McPhail is currently looking to see if Liberty Mills had any involvement in the creation of today's Child Labor Laws.

If you are interested in buying a home in the Triangle area, now is the time to contact Marti Hampton and let her and her team at RE/MAX One Realty help you find the perfect home.