After the long winter thaw in the more northern regions of  the United States inevitably most contemplate the retirement of their snow shovels and relocating to more moderate temperatures. North Carolina has long been a haven for transplants from the Northeast to escape onerous taxation and a higher quality of living.  The Greater Triangle area includes many great communities. Today’s feature community is that of Wake Forest. Having a long history Wake Forest offers an incredible lifestyle. Heritage  a master planned community is just one.  Click the link to see what the rave is all about.

Wake Forest Living

The much anticipated return of the Nationwide Tour event at TPC Wakefield is in full swing. The Rex Hospital Open runs May 24th-31st in Raleigh. The Pro-Am event runs May 27th and the Nationwide Tour event the 28th-31st. Funds raised during the event support programs and services at Rex. The event has generated several million dollars over the past 20 years supporting community based programs

Research Triangle Park, N.C. — Having exceeded the goal of adding 100,000 new jobs over five years that was set in 2003, leaders of the Research Triangle Regional Partnership are preparing a new plan through 2014.

Titled “Staying on Top: The Shape of Things to Come,” the RTRP leadership unveiled the plan Thursday morning at its annual regional briefing for business and government leaders.

The region appears to be off to a good start. Despite the global economic recession, Charles Hayes, president and chief executive officer of the RTRP was introduced to the beat of James brown, and he said the recruitment pipeline for new jobs and expansions is brimming with opportunity.

“Why did I choose James Brown’s ‘I Feel Good; this morning? Well, I do feel good, even in economic times like this,” Hayes told the crowd. “Let me tell you why.

“Since April we have added 17 companies to our portfolio of businesses considering relocating or expanding here. Those companies represent $1.7 billion in new investment and nearly 6,500 new jobs for our region. This activity comes on the heels of a record-breaking 2008, when companies announced $1.3 billion in new capital investments and nearly 6,000 new jobs.

“So, even in tough times, I feel good because I believe there is simply no place in the world better positioned for economic recovery than right here – The Research Triangle Region of North Carolina.”

Primary goals of the new plan include:

• “Expanding the region’s world-leading life sciences and technology clusters and selected new, emerging clusters.
• “Enhancing and preserving the superior quality of life and competitive business climate that enables the region to attract the talent and investment that companies need to continue being successful.
• “Engaging regional leaders and partner organizations in ensuring the region’s economic competitiveness.”

According to the RTRP’s latest report, the 13-county region added 110,224 new jobs between 2003 and 2008. Counties included are: Chatham, Durham, Franklin, Granville, Harnett, Johnston, Lee, Moore, Orange, Person, Vance, Wake and Warren.

“These results demonstrate the strength of our diverse, knowledge-based economy and affirm that sound, long-range strategic planning brings measurable benefits to our region through good times and bad,” Hayes said at the event, referring to the original “Staying on Top” plan.

Employment grew in all the counties but Warren, which lost 407 jobs, the partnership reported.

Wake added the most jobs (67,781) followed by Durham (14,258), Johnston (9,214) and Orange (5,663)).

The region did lost some 2,500 manufacturing jobs over the past five years, a decline of 2.9 percent. But Hayes noted that nationwide manufacturing jobs fell by 6.9 percent in the same time period.

“Though we’re a technology region, our manufacturing economy has held up well when viewed in a national context,” Hayes said.

Most job growth occurred in healthcare, he added.

Despite the economic slowdown in 2008, the region did secure $1.3 billion in new investments that could create nearly 6,000 jobs, Hayes added. Those included $362 million from IBM for a new data center and a $300 million expansion by Merck at its Durham facility.

According to the partnership, other investments and jobs included:

• $445 million from informatics companies (1,048 jobs)
• $374 million in life sciences (1,059 jobs)
• $251 million in advanced medical care (587 jobs)

Great news from congress……….Beat the rate hikes

http://money.cnn.com/2009/05/18/real_estate/tax_credit_as_downpayment/index.htm?postversion=2009051912

Raleigh, continues to be one of the nations top places to live. Todays interview with Barbara Corcoran makes her case. The diverse economy of Raleigh and the greater Triangle explored.

http://www.hulu.com/watch/73633/nbc-today-show-housing-markets-most-likely-to-rebound-fail

Recent market events and the continuing injections of capital into automakers  and banks are all signs were heading for inflation. I personally just refinanced for a 4.625%- 30 year rate. Simply unbelievable ! Why would you not take advantage of such a great offer……..Again, at some point we’ll see inflation and were already beginning to see a resurgence in commodity prices. With the first- time home buyer credit of 8k , low rates and house price declines what more can you ask for?

To be fair the economy is still in recession and consumers need to be confident they have jobs, however, it’s a psychological barrier we all need to cross
Warren Buffett says get ready for inflation…
Giant debt levels require America to slowly default on loans.

Credit Suisse publishes a monthly National Real Estate Report. Here are some excerpts from the April Market Trend.

Highlights- Agents are seeing buying traffic increase over the past 30 days, however below expectations. The interesting piece being of those surveyed 41% stated below, 36% said it met and another 24% said it exceeded.

Pricing and Incentive Trends worsen- Home Prices fell further in April and incentives appear to be trending higher.

Time needed to sell a home lengthened– A negative indicator for future pricing trends. Of the agents surveyed over half stated time to sell was unchanged relative to March, while 41% stated it was longer and fewer said it was shorter. Overall view the longer time to sell was a negative indicator.  ” Buyers, are still uncertain about the economy and their job security despite favorable interest rates and prices”

I look forward to this monthly update, as it does give a National Perspective.  Overall the Raleigh market has faired quite well and as we see a stabilization in the economy and jobs markets will give more buoyancy to our area.

On many occasions as a Realtor you find yourself in interesting conversations about the current economy, the pitfalls, doom and gloom and yes “Is it a good time to buy” ? Now I’ll be completely honest with you, I don’t know if home prices in general will continue to fall or rise but I am certain we are seeing some stability.

The great news is we are seeing sentiment improving.  I say sentiment because every individual, couple and families have a different set of circumstances. We all share the national story of a slowing economy a housing correction, and for the past 12 months or more we have been inundated with doom and gloom.

Yes sentiment is changing for the better in Raleigh, Cary, and Wake Forest. I’m witnessing it first hand as people have expressed to me more recently that they are changing their own perspectives and searching for the positive in their circumstances. Some of these folks have been laid off, looking for employment and face many uncertainties.

I don’t want to generalize, however it’s hard not too.  Input effects output plain and simple. Hats off to all of the folks across this great country who recognise the sun will rise and set …………….for the rest change the channel

Cheers

Jeff

P.s Sneak a peek              http://www.cpgtours.com/3914