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Old 08-23-2010, 09:01 AM
 
Location: Efland
1,877 posts, read 5,045,458 times
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Real-Estate Investing: the Best and Worst Markets - WSJ.com

"In the best markets, home prices already are stabilizing. Durham, N.C., for instance, is home to Duke University and is near the University of North Carolina-Chapel Hill. Big companies like International Business Machines Corp., GlaxoSmithKline PLC and Nortel Networks Corp., as well as numerous biotech start-ups, have facilities at the nearby Research Triangle Corporate Park. About 40% of area jobs are in health, education or government, according to Local Market Monitor.
Haywood Davis, owner of a Century 21 real-estate brokerage in Durham, says home-sales volume in the area increased 13% last month over July 2009, though prices rose only slightly."
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Old 08-23-2010, 01:53 PM
 
76 posts, read 184,237 times
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This is great news, go Durham. Shows even further that healthcare and education have held-up pretty well in the "recession of 2008-until".
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Old 08-23-2010, 02:31 PM
T|K
 
Location: Raleigh, NC
877 posts, read 2,330,080 times
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Made it on the Triangle Business Journal also!

BCR pointed out it is funny they mention Nortel.
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Old 08-23-2010, 02:36 PM
 
Location: Durham, NC
782 posts, read 3,371,300 times
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Definitely true. I bought a house in 2007 (February) right before everything really tanked, sold it February 2009 for a 15K profit. This was on a $140,000 home too. Durham definitely has not really had any noticeable dip in home values more than a few percent in the houses that are 299K or less. Once you start getting above that, and more to the 500K and up is where you saw big losses in value here in Durham.
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Old 08-23-2010, 04:29 PM
 
1,112 posts, read 2,699,140 times
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the article would be more creditable if it never mentioned Nortel Networks as a large company. Not sure if any pieces remain after the shut downs and peicemeal sell offs of various business units.

The line that did catch my attention was the increase of 13% in Durham home sales in July compared to July 2009, as in Total Triangle home sales fell 33% on a similar basis. I posted a thread at the weekend on the N&O article and attach the link below. If Haywood Davis is correct that means that Wake county sales were even worst than the headline 33% fall.

Triangle Home Sales Collapse 33% in July

Quote:
Originally Posted by DanielleNC View Post
Real-Estate Investing: the Best and Worst Markets - WSJ.com

"In the best markets, home prices already are stabilizing. Durham, N.C., for instance, is home to Duke University and is near the University of North Carolina-Chapel Hill. Big companies like International Business Machines Corp., GlaxoSmithKline PLC and Nortel Networks Corp., as well as numerous biotech start-ups, have facilities at the nearby Research Triangle Corporate Park. About 40% of area jobs are in health, education or government, according to Local Market Monitor.
Haywood Davis, owner of a Century 21 real-estate brokerage in Durham, says home-sales volume in the area increased 13% last month over July 2009, though prices rose only slightly."
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Old 08-23-2010, 05:08 PM
 
2,456 posts, read 7,594,472 times
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Without sounding cynical, the best investments are typically when a market is at the bottom. Durham does have lots of potential but not sure this is a huge cause for quite celebration yet. DBAP/DPAC are, um, home runs. I've heard about proximity to RTP for years (most of RTP is in Durham County) but that never stopped folks from flocking to Cary and N Raleigh.

Frank
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Old 08-23-2010, 07:07 PM
 
Location: Raleigh
217 posts, read 420,336 times
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Quote:
Originally Posted by Beermat View Post
The line that did catch my attention was the increase of 13% in Durham home sales in July compared to July 2009, as in Total Triangle home sales fell 33% on a similar basis.
I wondered about this too. When I pull the numbers I get a 33.4% decrease in Durham (city) and 33.2% in Durham (County). My number for Wake County is a 34% decrease.
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Old 08-23-2010, 07:55 PM
 
Location: South Beach and DT Raleigh
13,306 posts, read 21,466,120 times
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I read an article the other day that listed Charlotte at the city in NC that is going to have the most RE value growth through 2014. I think Charlotte's tops that other list because, in NC, it suffered a worse recession than the Triangle and the prices sank more. I'd be interested to see what data points each of these lists use.
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Old 08-23-2010, 08:01 PM
 
Location: Efland
1,877 posts, read 5,045,458 times
Reputation: 855
Quote:
Originally Posted by rnc2mbfl View Post
I read an article the other day that listed Charlotte at the city in NC that is going to have the most RE value growth through 2014. I think Charlotte's tops that other list because, in NC, it suffered a worse recession than the Triangle and the prices sank more. I'd be interested to see what data points each of these lists use.
I think the article was for conservative investing, since the numbers never really dropped here it's the least risky for investors.
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