CARY – When it comes to wealth, Cary is the crown jewel of North Carolina.
A new study by American City Business Journals, the parent company of Triangle Business Journal, has ranked the Wake County town as the No. 25 “wealth center” in America and tops in the state.
The study used demographics information – including per capita income, median household income and median home values – to rate 420 communities across the country.
Cary’s financial demographics undoubtedly benefit from the town’s proximity to Research Triangle Park, an impressive collection of universities and the presence of homegrown software concern SAS.
Source: Triangle Business Journal
Friday, February 26, 2010
Thursday, February 25, 2010
Raleigh Home Prices Rise!
Raleigh home prices to rise 1.3%
Home prices in the Raleigh-Cary metropolitan statistical area are forecast to increase 1.31 percent over the next 12 months despite the impact of distressed sales, according to a new report from First American CoreLogic.
Nationally, the real estate data company projects that home prices will decline in the spring months and that April will be a critical month for the housing market since that is when the federal homebuyer tax credit program is scheduled to expire.
First American CoreLogic’s LoanPerformance Home Price Index for sales nationally is expected to be up 3.5 percent excluding distressed sales; and up 2.7 percent included distressed sales by December. The HPI tracks pricing trends based on analysis of all home sales in 898 counties across the country.
Source: Triangle Business Journal
Home prices in the Raleigh-Cary metropolitan statistical area are forecast to increase 1.31 percent over the next 12 months despite the impact of distressed sales, according to a new report from First American CoreLogic.
Nationally, the real estate data company projects that home prices will decline in the spring months and that April will be a critical month for the housing market since that is when the federal homebuyer tax credit program is scheduled to expire.
First American CoreLogic’s LoanPerformance Home Price Index for sales nationally is expected to be up 3.5 percent excluding distressed sales; and up 2.7 percent included distressed sales by December. The HPI tracks pricing trends based on analysis of all home sales in 898 counties across the country.
Source: Triangle Business Journal
Monday, February 22, 2010
Homebuilder confidence on the rise!
Homebuilder confidence increases in February
The National Association of Home Builders announced its housing market index rose two points in February, a sign that low interest rates and federal tax credits are boosting demand for new homes.
The builders group said the index reached 17 in February, after falling for two consecutive months.
The increase may also signal builders are feeling better about their prospects following data that the job market could be improving. The Labor Department reported last week the number of newly laid-off workers seeking unemployment benefits fell to 43,000 - the lowest level in a month.
Meanwhile, interest rates for mortgages are hovering around 5 percent, pushed down by the Federal Reserve's program to buy mortgage-backed securities. And, builders say they are seeing the effects of the tax credits of up to $8,000 for first-time buyers and $6,500 for current homeowners who move.
"Builders are slightly more optimistic that the housing recovery is finally beginning to take root," said Bob Jones, the builder's group chairman.
Still, there are head winds, including a high number of foreclosures and a lack of financing for new projects. Mortgage rates could go up after the Fed's program ends this spring. And buyer demand could wane after the April 30 deadline for the tax credit.
In the latest survey of builder confidence, the reading for current sales conditions rose two points to 17. Traffic by prospective buyers remained flat at 12. The builders' outlook for sales over the next six months climbed one point to 27.
Regionally, the index for the Midwest and South increased two points, but dropped one point in the Northeast and West.
The index reflects a survey of 528 residential developers across the U.S. Index readings below 50 indicate negative sentiment about the market. The last time it was above 50 was in April 2006.
Source: www.wral.com
By ADRIAN SAINZ
AP Real Estate Writer
The National Association of Home Builders announced its housing market index rose two points in February, a sign that low interest rates and federal tax credits are boosting demand for new homes.
The builders group said the index reached 17 in February, after falling for two consecutive months.
The increase may also signal builders are feeling better about their prospects following data that the job market could be improving. The Labor Department reported last week the number of newly laid-off workers seeking unemployment benefits fell to 43,000 - the lowest level in a month.
Meanwhile, interest rates for mortgages are hovering around 5 percent, pushed down by the Federal Reserve's program to buy mortgage-backed securities. And, builders say they are seeing the effects of the tax credits of up to $8,000 for first-time buyers and $6,500 for current homeowners who move.
"Builders are slightly more optimistic that the housing recovery is finally beginning to take root," said Bob Jones, the builder's group chairman.
Still, there are head winds, including a high number of foreclosures and a lack of financing for new projects. Mortgage rates could go up after the Fed's program ends this spring. And buyer demand could wane after the April 30 deadline for the tax credit.
In the latest survey of builder confidence, the reading for current sales conditions rose two points to 17. Traffic by prospective buyers remained flat at 12. The builders' outlook for sales over the next six months climbed one point to 27.
Regionally, the index for the Midwest and South increased two points, but dropped one point in the Northeast and West.
The index reflects a survey of 528 residential developers across the U.S. Index readings below 50 indicate negative sentiment about the market. The last time it was above 50 was in April 2006.
Source: www.wral.com
By ADRIAN SAINZ
AP Real Estate Writer
Wednesday, February 10, 2010
Home Energy Awareness
Heating and cooling account for a major portion of most homes' energy budget.
To find out your home energy usage through your appliances, click here.
Quick Tip:
Keep the thermostat on your heating system at the lowest comfortable setting. We recommend a setting of 68 to 70 degrees during the day and 60 to 65 degrees at night. Get more great energy- and money-savings tips here.
Source: Progress Energy
To find out your home energy usage through your appliances, click here.
Quick Tip:
Keep the thermostat on your heating system at the lowest comfortable setting. We recommend a setting of 68 to 70 degrees during the day and 60 to 65 degrees at night. Get more great energy- and money-savings tips here.
Source: Progress Energy
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