Chapel Hill, NC Real Estate News

By Stanton Homes, Design/Build Custom Home Builder in North Carolina
(Stanton Homes - New Home Builder)
Students at Two Triangle Universites Battle it Out in the "Shortest Shower" Competition    Two of our local universities have come up with a great way to combat the significant drought in our area.  In the tradition of heavy competition between the schools, the Tarheels and the Wolfpack are battling it out - to see who can use less water. Daily water use had dropped by about 4 gallons, per student, per day at both UNC Chapel Hill and NC State since the contest began in November, when the Wolfpack beat Carolina during the end of the football season.  The competition is set to end on Feb 20th, when the two schools meet up again on the sports fields, this time in basketball. There are water meters on each residence hall, which makes gathering the data for the competition fair.      The win...
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By Jerry O'Donnell
(JOD Realty, LLC)
A great aspect of living in Chapel Hill is the number and variety of neighborhoods you have the opportunity to live in.  In this blog I will be showcasing various neighborhoods to help the reader learn a little bit about our area.  The latest neighborhood is Springcrest.  Springcrest is located on the east side of Erwin Road just north of the Sage Rd. intersection.  It is convenient to everything, and is within walking distance of East Chapel Hill High School.  (OK, it is a long walk, but high school kids can use the exercise.)  It is just a short hop to 15-501, Duke, UNC, shopping and other area services.The chart shows the number and stats of the active homes in Springcrest, as well as the houses that have closed in the past six months.  At the moment not a lot of activity, but since ...
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By Jerry O'Donnell
(JOD Realty, LLC)
The title shows two words that should be in your mind when buying OR selling a house.  They refer to "fixtures".  When you are the buyer, you want to keep in mind that not everything you see stays with the house.  On the other side of the sale, the seller needs to make CLEAR what is NOT staying.  I guarantee that if a buyer sees your favorite chandelier in the dining room they think it is staying, even if you put a yellow stickie on it that says "Does not convey".  You want to make sure the contract shows what does not stay.Basically, if something is glued or screwed  onto the wall, ceiling, etc., it is probably required to stay.  So, if you plan on talking that chandelier with you, get it down before you put the house on the market.  Go to the store and get a decent replacement for it ...
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By Jerry O'Donnell
(JOD Realty, LLC)
If you are looking for a home that will give you the privacy you want, yet still be close to everything in Chapel Hill, as well as being in one of the best school districts in the state, look no further!  The neighborhood known as Stoneridge/Sedgefield is for you.  Located off of Whitfield Road about 1 mile east of 86 this community is in the Chapel Hill School district, but not in the tax district of the City of Chapel Hill.Most homes were built in the late 70's early 80's with lots of yard space.  Homes, when available, range in price from the mid $300K to over $1,000,000.  The community also has an outstanding clubhouse with pool and tennis courts.  And as I mentioned, the location is perfect!  Close to everything but with the feel, and privacy, of the countryside.  I know all this b...
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I've mentioned before how nice it is to live in a school district that is considered one of the best in the country.  It is also nice that we have a wide range of neighborhoods that allow parents in all income brackets to move into the district.  The chart shows just a small sample of the many neighborhoods in the district and their average selling prices over the past six months.Of course, there are homes well above the figures on the chart, but you get the idea.  There is a home for you in the district if you want to move here,  At the lower end of the price scale you will find mostly condos, then townhomes at higher prices, then single family homes, but there are some of each in every price range.For more information on ALL the areas in the East Chapel Hill High School district hit t...
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By Jodi Bakst, Team Jodi - Chapel Hill Real Estate, Durham Real E
(Team Jodi Realty)
Kiplinger’s Personal Finance Magazine has named UNC at Chapel Hill the best value in public higher education for in-state students for the seventh year in a row.  Among UNC’s valuable attributes include its dedication to making affordable tuition for North Carolina students through private fund raising.  Last year alone, the UNC fundraising committee raised 2.3 billion dollars.  The university has also been gracious by allowing students from low economic backgrounds to graduate debt-free.  All in all, you can’t beat UNC.  A great school at a great location!  Chapel Hill | Durham North Carolina Real Estate Chapel Hill North Carolina Real Estate        
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By Jodi Bakst, Team Jodi - Chapel Hill Real Estate, Durham Real E
(Team Jodi Realty)
See What You’ve Been Missing   The beautiful home of the famous University of North Carolina has a lot to offer. Plenty of Outdoor Fun with almost 400 square miles of undeveloped terrain in the surrounding area from the community’s devotion to preservation. (Orange County Visitor’s Bureau).  Enjoy: swimming, fishing, hiking trails, bike paths, sports and more...  The amusement doesn’t stop there; Chapel Hill and the surrounding areas have many museums, sporting events, and educational activities for the entire family.  For nightlife, you can travel to the heart of town for fabulous dining and happening bars and clubs centered on Franklin Street.  Whether you’re looking to dance to live music or relax at an intimate wine bar the nightlife near Franklin Street is the place to be.  The Ch...
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
The great news for Triangle home sellers is that Fannie Mae and Freddie Mac have raised - temporarily - the levels for purchasing conforming loans.  The old level of $417,00 has been raised to 125% of the median home price of an area with a maximum of $729,750.  This increase will significantly reduce borrowing costs in high cost areas such as California and New York, enabling sellers in those markets who are moving to the Triangle to finally sell their homes - and buy here!The increase is supposedly temporary for this year but expect the new levels to be maintained as political pressure to keep the in place will be overwhelming.
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
Lake Hogan Farms Neighborhood Update January 28, 2008 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Lake Hogan Farms neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team.  Status Pending Date Closed Date #   Street   BR BA Half BA Sq Ft YR Built Asking Price Sold Price DOM Active      142  N  Fields  Circle  4  4  0  2813  2004  $425,000   28  Active      111    Hogan Ridge  Court  5  3  1  3229  2002  $574,900   6  Active      305    Long Meadows  Drive  4  2  1  3400  1997  $585,000   81  Active      100    Commons  Way  4  3  1  3300  1998  $599,900   42  Active      109    Lake Ridge  Place  4  3  1  3950  2002  $875,000   3  Active      212    Lake Manor  Road  5  4  1  4508  2002  $9...
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By Stanton Homes, Design/Build Custom Home Builder in North Carolina
(Stanton Homes - New Home Builder)
Rainwater Collection Systems in Raleigh, NC   Rainwater harvesting systems are growing in popularity in the Raleigh area.  Stanton Homes, a Triangle area custom home builder, has decided to offer these rainwater collection systems, or cisterns, as an option in all new homes for sale.    It's hard to find homes that have a solution for buyers that want a green yard as well as a "green" approach to water use.   Cost of installation of an underground system will vary by lot, home, and size of system.    A basic rainwater collection system includes a 550 gallon above-ground tank, or cistern.  Rain is collected from gutters, filtered, and stored in the tank.  A hose is connected to a nozzle on the tank, and a small motorized pump allows hand or sprinkler watering.    If desired, a small or l...
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By Jodi Bakst, Team Jodi - Chapel Hill Real Estate, Durham Real E
(Team Jodi Realty)
Our year-end home sales are in and the Triangle faired well in 2007. While certain real estate markets across the country have struggled, our market remained steady.   In Chapel Hill we had a 4% decline in sales but we also saw a 7% increase in average prices. Much of the decline in Chapel Hill home sales is due to the overall lack of new construction. In Orange County, not only was there a 4% increase in home sales, there was an 11% increase in average sales prices. Orange County is seeing growth in new construction. In Durham, sales stayed relatively constant from 2006 to 2007. Despite static growth, average prices increased 5%. Wake County, the home of Raleigh, Cary and Apex, saw the largest decline in sales at 7% but their average prices also increased by 6%. Overall, our real estat...
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By Jodi Bakst, Team Jodi - Chapel Hill Real Estate, Durham Real E
(Team Jodi Realty)
Chapel Hill has one green building project underway and another significant project at the proposed stage. Greenbridge is centrally located in downtown Chapel Hill not far from the entrance to Carrboro. This part of town is referred to as, “The West End.” The other project, referred to as “The Zero Carbon Project, if built will be located near the southern entrance to Chapel Hill. Both projects seek to promote human and ecological health by employing new construction methods and technologies; innovative renewable building materials; and new strategies to conserve energy and recycle materials.   Greenbridge, like the Zero Carbon Project, is a mixed-use residential project. The development will have 98 state of the art condominiums with luxury amenities and 40,000 square feet of retail s...
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By Jodi Bakst, Team Jodi - Chapel Hill Real Estate, Durham Real E
(Team Jodi Realty)
You may have heard of people "exchanging" their investment property to avoid huge tax bites out of their sale proceeds. An exchange of real property can be a valuable tool to defer or avoid capital gains tax on real estate transactions. Section 1031 of the IRS Code offers real estate investors a great investment opportunity to build wealth and save taxes. By completing a 1031 exchange, you can dispose of investment property, use all of the equity to acquire replacement investment property, defer the capital gains tax that would ordinarily be paid, and leverage all of you equity into a replacement property.Replacement property acquired in an exchange must be of "like-kind" or similar to the property being sold. The following are examples of properties that could be eligible for a 1031 e...
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By Marianne Howell Wright, Triangle Area Real Estate, Cary area & Chapel Hi
(Triangle Area Real Estate)
Yesterday I wrote about this being the time of the year to get a bargain from a national homebuilder. Last year at this time I had an experience that really demonstrated this.Lake Hogan farms is one of my favorite neighborhoods in Chapel Hill where I have sold many homes. David Weekley Homes was just finishing out the neighborhood with three lots for new homes remaining plus the model home left to sell. They wanted to move the on site agent on to another neighborhood and listed the last four with me. The model was to be returned to new condition before pricing and putting it in the MLS. It was a beautiful home so I had a list of people who wanted to be notified when it was listed on the market.Only one of the three lots had a home started on it yet and I had been emailing with a ReMax a...
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
The Oaks Neighborhood Update November 15, 2007 These are the Active, Pending and Closed real estate transactions for Chapel Hill's The Oaks neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date # Street BR FB HB Sq Ft YR Built List Price Sale Price DOM Active      111  Tweed  3  2  0  2000  1989  $775,000   3  Active      1110  Burning Tree  5  4  0  3777  1975  $995,500   204  Active      226  Galway  5  4  1  4002  1989  $1,050,000   7  Active      212  Galway  4  3  1  4148  1991  $1,075,000   13  Active      112  New Castle  4  3  1  3776  1990  $1,195,000   153  Active      1001  Pinehurst  3  2  1  3598  1986  $1,490,000   34  Active      217  Nottingham Drive  5  4  2  6234  1999  $1,649,00...
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By Sara Barfield, CLHMS, Durham Real Estate
(RE/MAX Winning Edge)
Southern Village Neighborhood Update November 14,  2007 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Southern Village neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date # Street BR FB HB Sq Ft YR Built List Price Sale Price DOM Active      520  Aberdeen  2  2  0  1104  2001  $234,000   121  Active      700  Market  1  1  0  1084  2002  $234,900   177  Active      708  Copperline  2  2  0  1315  1998  $272,000   114  Active      1010  Highgrove  3  2  1  1330  2001  $274,900   54  Active      700  Market  1  1  0  1274  2002  $299,900   231  Active      401  Copperline Drive  3  2  1  1675  1998  $369,900   75  Active      601  Copperline  3  2  1  1505  200...
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
Meadowmont Neighborhood Update November 8, 2007 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Meadowmont neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date # Street BR FB HB Sq Ft YR Built List Price Sale Price DOM Active      210  Old Barn Lane  3  3  1  1958  1931  $479,000   75  Active      105  Weaver Mine Trail  3  2  1  1911  2001  $519,000   91 Active      120  Little Branch Trail  4  3  1  3239  2003  $639,000   203  Active      108  Springdale Way  3  4  1  4570  2005  $650,000   164 Active      124  Little Branch Trail  4  2  1  2700  2004  $679,900   96 Active      104  Faison Road  3  2  1  3682  2002  $739,000   39  Active      102  Faison Road ...
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
Lake Forest Neighborhood Update November 8, 2007 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Lake Forest neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team.  Status Pending Date Sold Date # Street BR FB HB Sq Ft YR Built List Price Sale Price DOM Active      920  Shady Lawn  6  3  0  3000  1974  $354,900   99  Active      1627  Old Oxford  4  2  1  2175  1962  $359,000   197  Active      320  Woodhaven  4  2  0  1980  1962  $374,900   86  Active      600  Brookview Drive  4  3  0  2400  1965  $389,900   111  Active      603  Lakeshore  5  4  1  3902  1981  $589,000   205  Closed  6/25/2007 7/30/2007 201  Ridgecrest  3  2  0  2100  1961  $325,000 $320,000 18  Closed  3/28/2007 5/29/2007...
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
Ironwoods Neighborhood Update November 8, 2007 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Ironwoods neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date # Street BR FB HB Sq Ft YR Built List Price Sale Price DOM Active      117  Edgehill  4  4  0  2933  2008  $614,900   2  Closed 9/6/2007 9/21/2007 112  Thetford Court  4  2  1  2968  1994  $449,900  $442,500 135  Closed  4/25/2007 6/1/2007 108  Emerywood Place  2  2  1  1586  1985  $310,000 $300,000 93  Closed  2/5/2007 3/21/2007 104  Edgehill Place  3  2  1  1960  1993  $389,900 $381,450 32  Closed  2/21/2007 3/3/2007 112  Birchcrest Place  3  2  0  2000  1987  $400,000 $385,000 49  Closed  4/2/2007 6/27/...
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By Joe Rogers, CRP, GMS Chapel Hill Real Estate
(The Rogers Team @ RE/MAX Winning Edge)
Booker Creek Neighborhood Update November 8, 2007 These are the Active, Pending and Closed real estate transactions for Chapel Hill's Booker Creek neighborhood for 2007.  If you have any questions about any of these homes, please call or email The Rogers Team. Status Pending Date Sold Date # Street BR FB HB Sq Ft YR Built List Price Sale Price DOM Active      2516  Foxwood Drive  3  2  0  1972  1977  $295,000   91 Active      2429  Tilghman Circle  4  3  0  2392  1973  $349,900   135 Under Contract  10/12/2007  11/29/2007  2517  Foxwood Drive  4  3  1  2861  1978  $364,900   31 Closed  9/6/2007 9/11/2007 2457  Wayfarer Court  3  2  0  1823  1974  $299,000 $295,000 113  Closed  10/18/2006 1/24/2007 2504  Foxwood Drive  5  3  0  2158  1975  $335,000 $327,500 13  Closed  4/3/2007 5/6/2007 ...
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