Raleigh-Durham Real Estate Blog

Yes, the resale market in the Triangle (Raleigh, Durham, Chapel Hill) remains strong, and projections for the spring market are even more optimistic than in years past.

New construction continues its steady growth with several local and regional builders initiating projects in high-demand areas (South Durham, North Raleigh, and surrounding townships). Days on Market hasn't moved much from its 2.5 month average and inventory is in balance.

In addition, recent 3rd party praise from notable sources is spurring relocation interest in the Triangle from career seekers and retirees; two demographics that are playing a large role in the growth of this region.

First, is Forbes in their "Best Places for Business and Careers". Raleigh and Durham are both in their Top 10. Raleigh ranked #2 while Durham appeared at #8. Read the full article at:
http://www.fineliving.com/

Similarly, Durham ranked #6 on the Forbes "America's Smartest Cities" report. The city is home to Duke, North Carolina Central University, and Durham Technical Institute along with other smaller institutions.Read the full article at: http://www.forbes.com/entrepreneurs/2006/12/14/boulder-education-cities-ent_cx_ee_1215smartcities.html

All of this, and our housing remains ridiculously affordable! The average sales price for existing homes in 2006... approximately $230,000.

Opportunities for cash-flow on multi-family units are not difficult to find with reasonable 10%-20% downpayments. Take the following available properties, for example:

Cash-Flow Property #1
2-family duplex for 115k.
Gross rents $1300/month
Tenant-paid utilities.
No HOA fees

Cash-Flow Property #2
2-family duplex for 240k
Gross rents $2000
Tenant-paid utilities
No HOA fees

If opportunities like these interest you, feel free to reach me at tiffany@tiffanyelder.com for additional information.

I look forward to speaking with you soon!