Mortgage Rates Continue To Fall

July has proven to be a good month for those looking to purchase a home or refinance an existing home loan in the Triangle area. Long-term mortgage rates dropped again this past week to the lowest levels ever recorded. The week ending July 22nd, 2010 showed a decrease in thirty-year fixed-rate mortgages from 4.57 percent to 4.56 percent. Mortgage rates this low have not been seen since 1971. For those not interested in a thirty-year fixed-mortgage, but would rather tackle a 15-year fixed-mortgage, an interest rate of 4.03 percent was the going rate, which has not been seen since 1991.

The down side to mortgage rates continuing to drop means it is a result of decreased confidence in the current strength of our economy. The National Association of Realtors reported that existing home sales fell by 5.1 percent in June, marking the second straight month for a decline. However, this was to be expected as a result of the home buyer’s tax credit coming to an end.

The good news is the Triangle area is faring better than other areas in the nation with overall decreased home sales. Buyers in the Raleigh-Durham area closed on 2,676 homes during this month, which is 7 percent higher than the number of homes sold in May and 13 percent higher than the homes sold in June of 2009.

Home sales are still strong in the Triangle area, and what better time to buy than now to take advantage of these historic low interest rates. 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.

A Not so Great Honor for North Carolina

North Carolina and the Triangle area have been noticed a lot in the media recently for being top in the nation among many things, but the recent attention that North Carolina is receiving is not the best news. A new study just released by Trust for America’s Health and the Robert Wood Johnson Foundation has ranked North Carolina 10th in the nation for obesity. A total of 29.4% of adults living in North Carolina are considered obese, and this number is up a whole percentage point from last year’s study. Last year North Carolina was the 12th most obese state with 28.3% of adults being obese. When it comes to men and woman, the women in North Carolina are heavier with 29.7% of woman being obese.

Not only are adults in North Carolina suffering from obesity, but so are children from ages 10 through 17, where 18.6 % of them are obese, ranking North Carolina children 11th in the country for obesity. United States as a whole has two-thirds of the states whose adult obesity rate is greater than 25%. In order to determine the obesity rate in the United State, the Centers for Disease Control and Prevention conducted phone surveys and calculated residents BMI’S based on the height and weight given.

If you are looking to lose weight or stay fit, consider moving to a town that has plenty of activities to keep the family active. Now is the time to make your move. Contact Marti Hampton and her team at RE/MAX One Realty to help you find your dream home.

Data Centers To Eventually Bring More Jobs To North Carolina

In this downturn economy, it is reassuring that so many companies both large and small are looking to call the Triangle area and North Carolina home. Software company Microsoft is in the market to build a large data storage center facility, and is considering an industrial park site in Alamance County. Pending legislation in North Carolina’s General Assembly could help businesses benefit from a new economic incentive if the legislation passes.

Microsoft is not alone in considering the move to North Carolina to take advantage of this new legislation should it pass. Fidelity Investments is also looking to gain the advantage. If Fidelity chooses to move another data storage facility to the area, that would be their second data center here in the Triangle area.

The state of North Carolina would require Fidelity Investments to invest at least $75 million to qualify for the proposed state tax exemptions, and Microsoft Corporation would need to invest $225 million. Microsoft should have no problems meeting the minimum $225 million investment, since the data center they opened in the Chicago area in 2009 reportedly cost $550 million.

Not only would the proposed legislation benefit data centers but also a paper manufacturing plant and a turbine manufacturing plant that are also considering building in the North Carolina area.

More jobs keep opening in North Carolina and the Triangle area. Take advantage of a growing job market and make your move to relocate now. 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.

Stimulus Money To Be Used In Construction Work This Summer

The Economic Stimulus Bill will finally put stimulus money to work this summer in the Triangle area and across the nation. President Obama recently visited Columbus, Ohio to promote what the Administration is calling “Recovery Summer,” and to visit the 10,000th road project funded by the Economic Stimulus Bill. The stimulus dollars for construction are improving communities and putting thousands of construction crews to work.

It is estimated that the stimulus spending will increase this summer, and recently the Obama Administration published a report highlighting a few projects that are in the works.

• Six times as many highway projects will be under way this July as were under way last July.
• More than 2,800 water projects will be under way this summer, compared with only 129 last summer.
• About 82,000 homes will be weatherized vs. only 3,000 last summer.
• Nearly 9,000 projects will be under way in July in national parks, compared with 101 last July.

In January President Obama announced that North Carolina will receive $545 million in funds. North Carolina Governor Perdue says she is “Committed to putting the federal recovery funds to use with a high level of efficiency, transparency and accountability.” The North Carolina Department of Transportation plans to use some of the funds to refurbish passenger coaches and locomotives and to expand rail services across North Carolina.

The “Recovery Summer” will do a fine job in providing construction workers with work this summer, but many feel that until the housing and construction industry returns to its state prior to the recession, employment in the construction industry will be temporary. Construction employment declined in 25 states between April and May, and in 45 states between May 2009 and May of this year, according to Associated General Contractors of America.

North Carolina is booming and more jobs are being created every day. Now is the time to make your move. Contact Marti Hampton and her team at RE/MAX One Realty to help you find your dream home.

Home Sales Decrease As Tax Credit Ends

When the home buyers tax credit came to an end in April, so did the large amount of home sales it seems, with the Triangle area also being impacted. Many experts had predicted that there would be a decline in home sales, but did not predict that it would be as big a drop as it has been.

The National Association of Realtors (NAR) reported that pending home sales fell a drastic 30% in May. Mike Larson, a real estate analyst for Weiss Research sales say, “Sales fell off a cliff after the tax credit expired. It’s the biggest monthly decline ever and the index is at its lowest since NAR began tracking in 2001.” However, economists do not seem too concerned by this drastic drop in the sale of homes and feel that once the economic recovery returns in full force the housing market will once again heat back up. Economic experts expect the job market to begin to recover later this year, and expect to see the housing market recover right along with it.

Currently the market is very favorable for the purchasing of a new home with much lower home prices, and low mortgage rates.

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.

Wake County Boasts Housing Growth

In June the U.S. Census Bureau released data showing that Wake County ranked number 28th for housing growth. Between July 1, 2008 and July 1, 2009, Wake County housing grew by 2.3 %. The housing growth that Wake County has experienced placed it among the top 100 fastest growing communities in the United States. The housing estimates on growth are not related to the 2010 Census Bureau that is currently being conducted.

Wake County was the only county in the Triangle region to be included in the fastest growing housing growth in the area. Data showed that housing units for Wake County in July of 2008 were 352,956 and were up to 361,166 in July of 2009. Wake County may have been the only county in the Triangle area to experience this type of housing growth, but two other counties in North Carolina also had a noticeable increase. Hoke County noticed a 2.6% increase, and Mecklenburg County noticed a 2.5% increase.

Results of how other Triangle Counties faired:

• Johnston County noticed an increase in housing growth by 1.35%
• Chatham County noticed an increase in housing growth by 1.18%
• Durham County noticed an increase in housing growth by 1.02 %
• Orange County noticed an increase in housing growth by .87%

If you have considered moving, now is the time to jump right in and move to Wake County where the housing growth is one of the top in the state. There are many great deals to be had in the area. Contact Marti Hampton and her team at RE/MAX One Realty to help you find your dream home.

Raleigh- Durham International Airport To Take Shopping To The Next Level

Raleigh-Durham International Airport is well underway in redeveloping phase two of Terminal 2, and plans to open this phase in early 2011. With the revamping of Terminal 2, travelers will be able to shop in style, and have many options for fine dining. Travelers will have options such as relaxing with a glass of wine at the Vintage Carolina Wine Bar, or browsing for the latest trend in clothes at Brooks Brothers. The design of more than a dozen restaurants is nearing completion.

Additional stores coming to Terminal 2:
• Starbucks
• PGA Tour Shop
• CNBC News Stand

Kids were also taken into consideration in the redevelopment of Terminal 2 by offering places to eat that they may enjoy such as Jason’s Deli and Five Guys. Kids will also be able to spend time at the KidsWorks. Design work on restaurants and shops is nearing completion and travelers can expect to enjoy these changes around January 23rd, 2011.

Raleigh-Durham International Airport is sparing no expense in the remodel and is holding store owners to rigorous design standards. The airport is looking for a visually appealing atmosphere, while still being able to withstand the extremely heavy foot traffic. Rent from Terminal 2 vendors is expected to generate $3 million in a fiscal year.

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.

Raleigh-Cary Home Prices Up From April 2009

Home prices in North Carolina recently fell 0.7 percent, but that was not the case in the Raleigh-Cary area. The recent home buyer’s tax credit did wonders to help sell homes in the area, and the numbers prove it. Home prices in Raleigh-Cary increased by 1.37 percent in April 2010 compared to April 2009, according to CoreLogic’s Home price index. New data for May has also shown increased sales and prices for the Triangle area.

Home prices across the country, including distressed properties, showed an overall increase of 2.6 percent in April. It is believed that increase in home prices in April was a lingering effect of the home buyer’s tax credit. Chief economist, Mark Fleming, of CoreLogic expects home prices to remain strong in early summer, but expects the second half of the year to show a moderate decline.

Hawaii was the state with the highest overall yearly price increase with 10.6 percent. Coming in also in the top five were:

· California 8.4%

· North Dakota 6.0%

· New York 3.7%

· Virginia 3.6%

States with the largest home price value decline include:

· Idaho 7.2%

· Illinois 5.8%

· Nevada 4.6%

· Maryland 4.3%

· Washington 3.7%

The price of homes may be slightly higher in these areas, but that does not mean there is not a deal to be found. If you are interested in purchasing a new home now is the time to contact Marti Hampton and her team at RE/MAX One Realty and find the home of your dreams.

More Jobs For North Carolina

At a time in our economy when we are hearing a great deal about layoffs and downsizing, it is refreshing to learn that more jobs will be coming to North Carolina. Clearwater Paper Corporation recently was made aware that they would receive up to $4 million in state incentives to help build a new 672,000 square foot manufacturing and distribution facility in Shelby. The facility will be built on 100 acres in the Cleveland County Industrial Park West on Washburn Switch Road.

Clearwater Paper manufactures quality paperboard, consumer tissue and wood products. The corporation is based out of Spokane, WA but has facilities located throughout the United States, and looks forward to building their newest one in Shelby. Clearwater Paper has plans to invest $260 million into the construction of the facility, and will hire 250 new employees over the next five years. The facility will manufacture private-label tissue products for retail grocery chains in the Southeast and along the East Coast. Once at full capacity the site will produce 70,000 tons of bathroom tissue and household towels per year. Production is expected to start the second half of 2011.

The average salary for the expected 250 new employees will be in the $38,000 range, which is higher than Cleveland County’s average of $31,200. The company itself is set to earn up to $3.48 million in Job Development Investment Grant incentives, as well as $500,000 in One North Carolina Fund incentives.

North Carolina is booming and more jobs are being created every day. Now is the time to make your move. Contact Marti Hampton and her team at RE/MAX One Realty to help you find your dream home.