Business in Raleigh? Getting Stronger

One thing I love to see is small business growth in the Raleigh, Cary, Durham and Chapel Hill market.

The small business arena is a sure sign of the entrepreneur spirit and growth. Personally, I like to support small and local business as much as possible.

Here are some of the most recent new business’ in the Raleigh area as per Go Downtown Raleigh for the last quarter of 2011.

1. Battistella’s Cajun Kitchen (200 E. Martin Street)

2. Tutti Frutti (222 Glenwood Avenue, Suite 103)

3. The London Bridge Pub (110 E. Hargett Street)

4. Volcano Café and Lounge (108 E. Hargett Street)

5. C Grace (407 Glenwood Avenue)

6. Cimos (111 E. Hargett Street, Suite 100)

7. Foursaken Media (111 E. Hargett Street)

8. Videri Chocolate Factory (327 W. Davie Street, Suite 100)

9. Zaky Mediterranean Express (222 Glenwood Avenue, Suite 105)

10. Oryx Restaurant and Ultralounge (510 Glenwood Avenue)

How about you? Will you visit any of these places? I know my family and I will.

Are there any other small local business that have recently started that you have found to be amazing?  Be sure to let me know in the comment section below!

Amy Shair, REMAX Real Estate’s Posts – The 919 Business Network – Local Business Networking

Raleigh: Top Awards for Smartest City, Best City for Tech Jobs and Top Growth Area

There is definitely a buzz around Raleigh.

You can feel it in all aspects of the real estate market these days.

I just saw a great post from DownTown Raleigh Alliance about some additional awards the Raleigh Area has recently won:

#2 Smartest City in North CarolinaAmerican City Business Journals – November 2011

  • Cary and Durham also ranked very high
  • Chapel Hill received additional recognition for the smartest communities with population less than 99,999.

#4 Best City for Technology Jobs -Forbes.com – November 2011

  • Technology jobs outpaced the overall rate of unemployment
  • Raleigh rated #4 for this list

#5 Top 10 Metro Areas for Growth Since the RecessionUrban Land Institute – October 2011

  • In just 10 percent of the nation’s 50 largest metropolitan areas, total economic growth exceeded 10 percent since 2007.
  • Raleigh North Carolina is #5 on this list

I find this news very encouraging.  I am seeing an increase in Buyers and Sellers, and the good news is only helping homeowners on both sides of the transactions in Raleigh.

How about you?  Have you seen an increase in activity in your area also?

Amy Shair, REMAX Real Estate’s Posts – The 919 Business Network – Local Business Networking

Inman News: Raleigh #1 Market to Watch in 2012

The real estate news for the Raleigh Durham Chapel Hill area keeps improving.  Inman News, a top real estate technology blog, noted Raleigh as the #1 Real Estate Market to Watch in 2012.

Inman News - Raleigh #1 Market 2012Inman noted the end of the year home value appreciation as a top value with the median sales price jumping 7.3% from third quarter 2010 to third quarter 2011.

Also noted in the article was the median sales price for Raleigh-Cary metro was $ 224,300.  This is one of the highest median sales prices around.

I am seeing increased activity with both Buyers and Sellers, and it is a breath of fresh air in the real estate market for sure.

Amy Shair, REMAX Real Estate’s Posts – The 919 Business Network – Local Business Networking

Real Estate Near SAS – CNN Money Top #3 Place to Work in US

The positive real estate news in our local market keeps getting better!  SAS has been named #3 Best Company to Work For in the United States by CNN Money.

Some of the great qualities of SAS:

  • Subsidized Montessori child care
  • Unlimited sick time
  • Intramural sports leagues
  • Free health care center
  • More!

If you have never been to the gorgeous SAS headquarters you will want to visit:  100 SAS Campus Drive, Cary, NC  27513

2010 revenue ($ millions): 2,430
Website: www.sas.com

Looking for a home near the SAS campus?  Check out these great searches to help you in Cary and Raleigh.

Amy Shair, REMAX Real Estate’s Posts – The 919 Business Network – Local Business Networking

Forbes: Raleigh 1 Small Business for Every 49 Residents

I saw this article this morning from Forbes Magazine and was encouraged by additional recognition of the amazing assets that Raleigh, Durham and Chapel Hill area offer people of all ages, in this article, specifically Young Adults.

Interestingly, one of the statistics that I found interesting that there is 1 Small Business for Every 49 residents in Raleigh.  That is A LOT of small businesses!

I have personally seen an increase in real estate activity in the past few months and this articles shares some of the reasons why.

Forbes Magazine – Raleigh #2 City Young Adults

2. Raleigh, N.C.

  • M.S.A.: Raleigh-Cary, N.C. Average Annual Job Growth (2010-2012):
  • 2% Median salary: $ 51,500
  • Cost-of-living index (U.S. average is 100): 104.4
  • Percent of pop. with college degrees: 42.2%
  • 1 small business for every 49 residents
  • 1 large business for every 770 residents
  • Unemployment rate: 7.9%
  • The college town has one of the best job growth projections of any city we assessed and the 16th best average salary for young professionals, exceeded only by markedly more expensive cities.

What are your thoughts?  Do you think the Raleigh area should have been rated this high? I do, and am very pleased with the opportunities it offers to Buyers , Sellers and small business owners.

Amy Shair, REMAX Real Estate’s Posts – 919 Business Networking – Local Business Owners & Professionals

Why Sellers “Funkify” Their Home

I have invented a word that I use in talking to buyers. The word is “Funkify” – it’s when a homeowner customizes the house in a way that works for them but makes it harder to use for anyone else.







I showed a house Saturday where a seller took their master bedroom and added a master bath but kept the small, dated bathroom too. So one master, 2 private bathrooms. Textbook “funkify” – all the homeowner had to do was remove the existing closet to make the old bedroom 13 feet wide instead of 10 feet and then make the old master bath into a functional closet.



When you own a home and you’re tempted to add on or remodel, remove a closet, add a doorway or finish a bonus room but the access is in a strange place, you have to be careful not to funkify the house. Even if you don’t care about the negative implications the change will make, there is almost always a way to mitigate it in the design process. It only takes a little extra time to consult with your real estate agent, a residential architect or designer. Your contractor doesn’t count because they don’t always have the same perspective that the next owner will have when considering the changes.



Examples of funkified houses include knocking down a wall and making a 10×20 bedroom – that is known as a bowling alley. Adding on a room that only has one regular sized window – that is known as a cave. Finishing an attic or basement with a really narrow staircase so you can only fit Ikea furniture up there that you carry through the door in pieces – that is impractical. Finishing an average size basement into 6+ separate rooms – that is known as choppy.



The good news is the most funikifying can be fixed. So if you can see the potential and have the vision to see how the space could be you can get a great house. Get more than one opinion and it needs to be from someone that will have an unbiased opinion – ie – not a family member.



Have you seen any “funkified” homes? What was your reaction?
Amy Shair, REMAX Real Estate’s Posts – 919 Business Networking – Local Business Owners & Professionals

Real Estate Statistics From Feb 2011 for Wake County, North Carolina and USA

Hi. I wanted to take a minute to discuss current real estate trends.

 

Since February 2011 there have been some statistics released that I think are really interesting. Some information has said that the market’s going up; some said that it’s going down. Let’s try to break down some facts, and that might help you to understand where our current market is.

 

Statistically, national sales were up 5.3% in January 2011 compared to January of 2010. That means people were actually buying houses at the beginning of this year, which is great news.


I believe it also indicates that sellers are getting a little more realistic about what price is going to get their homes moved. I know last year some sellers hung on, and their houses sat on the market and didn’t sell. And I think now folks are a little more clear on the pricing and what it’s going to take to get their home marketable today.


The second thing I want to tell you is more of a local statistic. We’re still seeing sellers getting a pretty high percentage of their asking price. So buyers who come in thinking that they can get 10% or 20% off the asking price are probably going to have a hard time finding that seller in this market. In Durham County, for example, sellers are getting 96.2% on average; Wake County, they’re getting 97.1% on average and Orange County’s getting 96.1%.


So that gives you some idea that there is a little bit of negotiating room but not a tremendous amount. Hopefully this will help you as you’re considering your entry into the real estate market today.



Did you find these statistics helpful? I would love to hear if you believe these statistics are representative in your neighborhood as well. Amy@AmyShair.com is the best way to connect with me!
Amy Shair, REMAX Real Estate’s Posts – 919 Business Networking – Local Business Owners & Professionals

Due Diligence: 2011 Changes to Consider when you Purchase a Home in NC

Effective January 2011, the North Carolina Offer to Purchase and Contract got a new clause called Due Diligence.

 

The due diligence period and due diligence fee are significant changes to the contract because it puts a specific timeframe for things to get done and an amount of money which is non-refundable and separate from the earnest money.

“Due Diligence”; Buyer’s opportunity during the Due Diligence Period to investigate the Property and the transaction contemplated by this Contract, including but necessarily limited to matters described in Paragraph 4 below, to decide whether Buyer, in Buyer’s sole discretion, will proceed with or terminate the transaction.
Under the due diligence clause, the buyer has the opportunity to complete several things:
  1. inspections
  2. loan approval
  3. reviewing restrictive covenants and neighborhood rules
  4. property survey, if applicable
  5. appraisal

For buyers, this means they need to get some of these things done earlier in the home buying process. For example the property survey was normally done much closer to closing.


For sellers, the due diligence period means that there is a specific, time-sensitive deadline for the buyer to get things done that can prevent them from closing. While not an absolute guarantee, this change will prevent some of the last minute problems that used to occur. Lenders are working hard to get the loan approval and appraisal done within the due diligence period.

The due diligence clause allows buyers to have an agreed upon timeframe to do all of their necessary and desired things to determine if they will go forward with the purchase. The buyer can terminate the contract at any point prior to the due diligence date “…for any reason or no reason whatsoever.” Most buyers do not want to cancel a contract for no reason and they will not make an offer on a house they are not interested in buying. Buyers spend money on inspections, appraisals, and their time to look at a house and make an offer. Sellers do not want to accept a contract from a buyer they doubt will go through with the purchase and have their home on the market because they want or need to sell their home.


Bottom line – The contract changes have not changed the process in a truly significant way. There is simplification regarding the contract dates now and there is the option for what can be described as a non-refundable deposit. Changes in the market dictate what a buyer and seller will agree to – this includes changes to the mortgage process and the motivation for a particular price, date and repairs between the buyer and seller.



Working with experienced professionals for the services you need to buy a home will help you successfully navigate the process. Lenders, real estate professionals, attorneys, inspectors, and surveyors are making the necessary adjustments to deal with the changes to the NC Offer to Purchase and Contract.

 

Do you agree that these changes are needed?  What are your thoughts?

Amy Shair, REMAX Real Estate’s Posts – 919 Business Networking – Local Business Owners & Professionals

Is it Time for Your Parents to Move? 7 Tips to Determine if Now is the Right Time

If you have parents who are getting older and you are concerned about them staying in their home, you are not alone.

 

Here are some common concerns you may have:

1) Health Concerns – Your parents may have already experienced falls, accidents, or a diagnosis with an illness that will affect their ability to live on their own long-term



2) Mental Issues – Your parents are experiencing forgetfulness, dementia, or depression



3) Home Maintenance – Your parents are continuing to do home maintenance tasks that might be risky such as cleaning gutters, changing light bulbs or air filters requiring a ladder, raking leaves or shoveling snow



4) Caretaker Concerns – One parent is the sole caretaker for the other which puts pressure on the caretaker with no outside assistance. Or your parent is single and there is no one designated to help if needed



5) House Getting Old and Needs Repair or Updating – A lack of energy-efficient appliances or parents are spending a lot of money on a house that might not be worth the investment



6) Distance – Being far away in case of emergency; travel distance and cost to travel makes it hard to visit one another as often as you would like



7) Quality of Life – Your parent might be living in an area that gets a lot of harsh cold or hot weather or an area that is rural or not as safe or desirable as it used to be



Here are 5 suggestions to get your adult parents to seriously consider the possibility of moving:



1) Be Patient. This is not going to be a quick decision. Your parents will need to come to terms with the reality that staying in their current house doesn’t make good sense, even though that would be their preference.



2) Start with Little Things. For example, you can tell them about trends in organizing and recycling and how they could do it at their home by recycling unused items or decluttering to have a new look.



3) Try to Bring in Experts to Help – You can suggest a professional organizer, real estate agent, or financial planner who is trustworthy and professional. Sometimes having an outsider say the same thing that you say is heard differently.



4) Family Solidarity – Try to create united front between siblings with your parents. If you and your siblings fundamentally disagree on whether your parents should move, it will be hard for your parents to make their own decision because they know it will be perceived that they sided with one child over the other(s). Having a family meeting does not mean a face-to-face intervention – just knowing that you’re concerned about them will mean a lot to your parents and if they feel your recommendations are coming from a place of love and concern, they will be more likely to take them to heart and give them serious consideration.



5) Be Sympathetic – Remember how you felt when you were a teenager? You probably thought or said, “No one understands.”, “I want to do it my way.”, or “I can do it myself – I don’t need help.” – these are some of the same thoughts aging parents have when their adult children tell them what to do.



Moving can be a difficult decision at any stage of life but it can be made easier by communicating and educating your loved ones about their housing options. There are condos, townhomes, one story ranch style homes, and active adult communities designed for residents 55 and older.

 

 

Amy Shair, REMAX Real Estate’s Posts – 919 Business Networking – Local Business Owners & Professionals

Homebuying Myth #1 – Can you find the Perfect House?

Today, I want to talk to you about homebuying myths.






Annalisa Burgos, senior editor with HGTV’s frontdoor.com, wrote an article called “6 Myths of Homebuying.” I like the article very much, and I wanted to share some of those myths with you.



Myth #1 is that the perfect home is out there.

 

I totally agree; I sometime have clients that go out and look at a house that really suits them well; it is in a great neighborhood and meets the vast majority of their criteria, and yet they seem to focus on the one thing that it doesn’t have. Home buying is always about compromise—I don’t care if you are spending $ 50,000, $ 500,000 or $ 5 million. The perfect home doesn’t really exist because it is either a little more than you want to spend; or the house is great, but the lot is not so great; or maybe it faces the wrong direction: you wanted a south-facing house, and it faces west.

Those things happen every day out there in the real world as folks are looking for homes. You need to get out of your mind that the perfect home is out there. There are lots of great houses for you, but you need to assess each one and try to make sure you pick the one that meets your needs as best as you can realistically find. Especially if there’s more than one person making the decision; if you have a partner, or you are going to have a roommate or you have a family, it is almost impossible to find the perfect house for every member of your household.



I will share with you more home buying myths in the future, but that’s Homebuying Myth #1.



Do you agree that the “perfect” home is out there? Has that been your experience? You can comment below or email me at Amy@AmyShair.com. I look forward to seeing your comments.



www.AmyShair.com

Amy Shair, REMAX Real Estate’s Posts – 919 Business Networking – Local Business Owners & Professionals