Durham NC, the home of Exit Realty Southpoint, continues to make the headlines.
Even as the economy suffers through the worst recession in decades, here’s official word that North Carolina remains a giant magnet for newcomers.
Raleigh, Cary, Durham and Charlotte ranked among the 25 fastest growing large cities in the nation for the 12 months that ended July 1,2008, the U.S. Census Bureau said in its annual population estimates released Wednesday. Greensboro was also naked in the top 50, among the nation’s 273 cities with more than 100,000 people.
Cary, which saw its population increase by 6.9 percent, to 129,545, as of July 1,2008, was the nation’s third fastest growing city, Raleigh’s population climbed by 3.8 percent, Lo 392,552, making North Carolina’s capital the eighth fastest growing city. Durham was ranked 16th with a 3 percent increase. Its population rose to 223,284. Charlotte1 which saw its population increase by 2.7 percent, to 687,456, was naked 23rd.
In the Triad, Greensboro was ranked 4sth nationwide, with us population growing by 2 percent to 250,642. High Point was the 76th fastest growing large city, with its population increasing by 1.5 percent to 101,835, Winston-Salem was also in the top 100, with its 1.4 percent growth rate ranking it at 91st, The Twin City is home to 217,600.
The fastest growing city in the nation was New Orleans, which experienced an 8.2 percent growth in its population, increasing the population in the city ravaged by Hurricane Katrina in 2005 to 311,853.
Wednesday, July 15, 2009
Tuesday, April 7, 2009
LOOKING BACK AT 2008 -- DURHAM REAL ESTATE
LOOKING BACK AT 2008 – DURHAM REAL ESTATE
2008 is over. That is a good thing. 2008 was not a great year if:
· you depended on your stock portfolio for your retirement income.
· you were a conservative politician.
· you were moving to the Triangle (like everyone else) and needed to sell your house back home in order to settle in here.
· you had plans to develop property or build a big building and discovered the banks decided to no longer lend you any money
· you bought a house you could not afford, obtained a 104% loan, saw it actually lose value and now you are upside down.
· you believed anything you read in the media.
Not everything that happened in 2008 was a bad thing. When I was a kid my parents used to tell me that anyone could grow up to be President of the United States. Of course, what they really meant was if you were a white male. That myth has finally been dispelled and that is a good thing. As for the politics, we will just have to wait and see. We still don’t have a female President, but at least Governor Palin proved that the media could be as nasty to a woman as they could be to a man.
2008 is over. That is a good thing. 2008 was not a great year if:
· you depended on your stock portfolio for your retirement income.
· you were a conservative politician.
· you were moving to the Triangle (like everyone else) and needed to sell your house back home in order to settle in here.
· you had plans to develop property or build a big building and discovered the banks decided to no longer lend you any money
· you bought a house you could not afford, obtained a 104% loan, saw it actually lose value and now you are upside down.
· you believed anything you read in the media.
Not everything that happened in 2008 was a bad thing. When I was a kid my parents used to tell me that anyone could grow up to be President of the United States. Of course, what they really meant was if you were a white male. That myth has finally been dispelled and that is a good thing. As for the politics, we will just have to wait and see. We still don’t have a female President, but at least Governor Palin proved that the media could be as nasty to a woman as they could be to a man.
Saturday, February 28, 2009
LOOKING AT 2009 – DURHAM REAL ESTATE
LOOKING AT 2009 – DURHAM REAL ESTATE
2009 could be a good year if:
· you realize that the glass is not half empty but is actually half full
· you understand that if you have made it this far you probably will make it the rest of the way
· you discover that this is the best time in the last fifty years to buy a house. Mortgage rates are at unheard of lows and there is no shortage of money to lend to the potential home buyers. Home prices are flat at best and down in certain areas and the supply is plentiful.
· some of the bailout money actually bubbles to the surface in the real world and all of the neat plans announced in the last few years for our area actually start to spring into action.
There are many reasons to be optimistic if you live in the Triangle. Folks are still moving here in record numbers. North Carolina was the fourth fastest growing state last year. The pent up demand for homes should spark the return of consumer confidence in real estate. The reason that return of confidence in real estate is so important is because the housing industry is one-third of our national economy. It will be able to single handedly lead us out of a recession.
Speaking of recessions, Durham was recently named the third best city in the US to ride out a recession. What is even more impressive is the numbers one and two cities were Washington D.C. and northern Virginia burbs where they just print more money during slow times if they don’t have enough. That means that Durham has the most solid and stable economy in the real world. Our people are well educated and our job base is solid and diversified. That is a good thing.
Another interesting set of statistics came out last week. For the first time since they have been tracking such things, the annual average price of a home, according to Standard and Poor’s index, fell in all of the twenty largest metropolitan markets. By the way, Charlotte is number twenty in size. The national average decline was 18% and the market with the smallest decline was Dallas at -3.2%. Charlotte had the second smallest decline at -4.4%. If the Triangle had been a reporting district, we would be the award winner with a average price gain last year of 3.8%. This is why it is still the best place in the country to buy a home.
2009 could be a good year if:
· you realize that the glass is not half empty but is actually half full
· you understand that if you have made it this far you probably will make it the rest of the way
· you discover that this is the best time in the last fifty years to buy a house. Mortgage rates are at unheard of lows and there is no shortage of money to lend to the potential home buyers. Home prices are flat at best and down in certain areas and the supply is plentiful.
· some of the bailout money actually bubbles to the surface in the real world and all of the neat plans announced in the last few years for our area actually start to spring into action.
There are many reasons to be optimistic if you live in the Triangle. Folks are still moving here in record numbers. North Carolina was the fourth fastest growing state last year. The pent up demand for homes should spark the return of consumer confidence in real estate. The reason that return of confidence in real estate is so important is because the housing industry is one-third of our national economy. It will be able to single handedly lead us out of a recession.
Speaking of recessions, Durham was recently named the third best city in the US to ride out a recession. What is even more impressive is the numbers one and two cities were Washington D.C. and northern Virginia burbs where they just print more money during slow times if they don’t have enough. That means that Durham has the most solid and stable economy in the real world. Our people are well educated and our job base is solid and diversified. That is a good thing.
Another interesting set of statistics came out last week. For the first time since they have been tracking such things, the annual average price of a home, according to Standard and Poor’s index, fell in all of the twenty largest metropolitan markets. By the way, Charlotte is number twenty in size. The national average decline was 18% and the market with the smallest decline was Dallas at -3.2%. Charlotte had the second smallest decline at -4.4%. If the Triangle had been a reporting district, we would be the award winner with a average price gain last year of 3.8%. This is why it is still the best place in the country to buy a home.
Friday, February 27, 2009
Outlook 2009--Durham Rela Estate
2009 could be a good year if:
· you realize that the glass is not half empty but is actually half full
· you understand that if you have made it this far you probably will make it the rest of the way
· you discover that this is the best time in the last fifty years to buy a house. Mortgage rates are at unheard of lows and there is no shortage of money to lend to the potential home buyers. Home prices are flat at best and down in certain areas, and the supply is plentiful.
· some of the bailout money actually bubbles to the surface in the real world and all of the neat plans announced in the last few years for our area actually start to spring into action.
There are many reasons to be optimistic if you live in the Triangle. Folks are still moving here in record numbers. North Carolina was the fourth fastest growing state last year. The pent up demand for homes should spark the return of consumer confidence in real estate. The reason that return of confidence in real estate is so important is because the housing industry is one-third of our national economy. It will be able to single-handedly lead us out of a recession.
Speaking of recessions, Durham was recently named the third best city in the US to ride out a recession. What is even more impressive is that the number one and two cities were Washington D.C. and northern Virginia burbs where they just print more money during slow times if they don’t have enough. That means that Durham has the most solid and stable economy in the real world. Our people are well educated and our job base is solid and diversified. That is a good thing.
Another interesting set of statistics came out last week. For the first time since they have been tracking such things, the annual average price of a home, according to Standard and Poor’s index, fell in all of the twenty largest metropolitan markets. By the way, Charlotte is number twenty in size in this index. The national average decline was 18% and the market with the smallest decline among these cities was Dallas at -3.2%. Charlotte had the second smallest decline at -4.4%. If the Triangle had been a reporting district, we would be the award winner with an average price gain last year of +3.8%. This is why it is still the best place in the country to buy a home.
· you realize that the glass is not half empty but is actually half full
· you understand that if you have made it this far you probably will make it the rest of the way
· you discover that this is the best time in the last fifty years to buy a house. Mortgage rates are at unheard of lows and there is no shortage of money to lend to the potential home buyers. Home prices are flat at best and down in certain areas, and the supply is plentiful.
· some of the bailout money actually bubbles to the surface in the real world and all of the neat plans announced in the last few years for our area actually start to spring into action.
There are many reasons to be optimistic if you live in the Triangle. Folks are still moving here in record numbers. North Carolina was the fourth fastest growing state last year. The pent up demand for homes should spark the return of consumer confidence in real estate. The reason that return of confidence in real estate is so important is because the housing industry is one-third of our national economy. It will be able to single-handedly lead us out of a recession.
Speaking of recessions, Durham was recently named the third best city in the US to ride out a recession. What is even more impressive is that the number one and two cities were Washington D.C. and northern Virginia burbs where they just print more money during slow times if they don’t have enough. That means that Durham has the most solid and stable economy in the real world. Our people are well educated and our job base is solid and diversified. That is a good thing.
Another interesting set of statistics came out last week. For the first time since they have been tracking such things, the annual average price of a home, according to Standard and Poor’s index, fell in all of the twenty largest metropolitan markets. By the way, Charlotte is number twenty in size in this index. The national average decline was 18% and the market with the smallest decline among these cities was Dallas at -3.2%. Charlotte had the second smallest decline at -4.4%. If the Triangle had been a reporting district, we would be the award winner with an average price gain last year of +3.8%. This is why it is still the best place in the country to buy a home.
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