I'm always looking for a business opportunity to invest in property in my market or other markets.  That said, I had a friend that wants to purchase the investment as a co-ownership property. In addition, I have a lot of inquiries from parents that students attend NCSU about co-ownership As a result, I let her know there are tax consequences associated with co-ownership programs.  I had to do some hefty research to get to the bottom line but here it goes:  Tax Effects on Co-Ownership Properties   Relatives and Investors are allowed to team up with owner-occupants to purchase real estate together.  The non-occupying relatives or investors can help the owner-occupants qualify for the loan, produce the down payement money needed to purchase and make a portion of the monthly payments.  The ... 05/10/2007

I know that there are many parts of the country where the market has slowed.  Fortunately my market is not one of them.  Our area continues to receive accolades from the top magazines in the country.  Just last week Oprah named the Triangle the #4 market in the country for Single Women to meet men over 35. Well, I think she's gone a bit overboard here but we sure do like the publicity.  I've even devoted a section on my website called "Ratings".  It's quite a list. I had a client print out the list and it was over four pages!!!  The bottom line-we had over 18,000 new residents last year and over 8,000 new students in the Wake County Public School System alone.  Chances are you may know someone that's moving to the Triangle. There are a couple of other ratings bestowed upon the area that... 05/09/2007

Are you are concerned about a possible real estate bubble in Raleigh? " The National Association of Realtors Research Division recently conducted a home price analysis in the Raleigh-Cary MSA. The reports concluded that there was very little danger of a housing market bust in this region. In fact, the reports stated that local housing markets were in excellent shape with a potential for significant housing equity gains, particularly for homebuyers who plan to remain in their house for the long run. Additionally, local markets had very favorable home price-to-income ratios and even better mortgage servicing cost-to-income ratios. The latter ratio is currently below the local historical average implying no widespread financial overstretching to purchase a home in the region. As a point of... 04/26/2007

Because I have played tennis just about all my life I wanted to share details on the areas finest tennis facilities for anyone moving to the area.  Hopefully this will be a resource that you can use to locate a great club to join or just to find a location to play your next tennis match.  Cary Cary Tennis Park is a premier public tennis facility located in the heart of Cary with 30 championship courts, including one stadium court and one teaching court.  This facility hosts some of the top tournaments in the state including the ACC Championships and State Closed Junior Championships.  This facility is also considered to be a  USTA Welcome Tennis Center.   Kildaire Farm Racquet Club is located in South Cary and is host to many Cary tennis tournaments.  The facility has a full service pro... 04/26/2007

  City: Raleigh, North Carolina Directions: I 540 to Lumley Rd, Left at stop sign. Cross Brier Creek Parkway & continue into Brier Creek Sub. Right on Arnold Palmer   Neighborhood Facts: Neighborhood established in 2002, most of the homesites have now been developed but there are a few lots still available. Resale prices for single family homes start in 340ks up to $1M+ In the heart of the Triangle adjacent to the Airport but not in the airport takeoff or landing path Arnold Palmer signature 18-hole golf course Toll Brothers Community Brier Creek is a luxurious golf course community by Toll Brothers in Raleigh, North Carolina. Brier Creek  was recently was named MAME Developer of the Year and Building Company of the Year! Situated on Raleigh's only Arnold Palmer Signature golf course Br... 04/25/2007

Development in RaleighHousing in Raleigh is a booming industry. New construction is at an all time high, and the office sector showed the largest values in square footage and dollar amount. The commercial sector of new construction in Raleigh was the second largest in square footage, while the institutional sector was second in dollar value.There were 4,467 residential building permits for housing in Raleigh, North Carolina in 2005/2006 alone. Of those permits, 58.6% were single-family, 38.3% townhouse, 1% two-family, and less than 1% three and four family apartments and condominiums.As of 10/31/2006, the total value of authorized construction was $1,655,531,782. For the eighth consecutive year, total construction authorized in Raleigh was over $1 billion. This number reflects an increa... 04/25/2007

Raleigh OverviewRaleigh offers something for everyone. A premier community in which to live, work and play, you'll find a thriving business community, active arts and culture population, excellent healthcare, and outstanding educational and career opportunities. It's not only a prime place to do business, it's a place everyone is content to call home.Located centrally within North Carolina, Raleigh has been named the #1 Place to Live and Work in America by such publications as Employment Review, Forbes, FORTUNE, and Money. But don't take our word for it. Take a look at what other executives think of Raleigh and look at the facts:Business ClimateIndustry giants in pharmaceuticals, computer software and hardware, telecommunications, and biotechnology dot the landscape in spacious campus-l... 04/25/2007

Crescent Resources, a Charlotte, NC based development company has filed site plans in Wake and Franklin Counties for an 806 acre development which will sit right on the county line. The new neighborhood, currently called "The Lakelands" will feature upscale homes in a luxury price range. The 806 acres is located off of Moore's Pond Road, which is near a popular fishing area. The plans are for The Lakelands to be a gated community.Franklin County is expected to be one of the beneficiaries as Wake County's population boom begins to stretch to the exhurbs since I-540 has now been completed all the way across northern Wake County. With the addition of this Northern Wake Expressway, Franklin County now is only 10-12 minutes from the Capital Boulevard exit and Zebulon is only minutes from Hwy... 04/17/2007

I worked with a wonderful couple from Chicago this past weekend.  They are moving from the Lakeshore area and wanted to replicate their lifestyle here in the Triangle but also downsize a bit, save a bit of money, and to be with their family.  The Triangle area is very spread out and the neighborhood "communities" throughout the Triangle area very different. What I mean is that the culture, atmosphere, and dynamics are different.  You can't hop on Realtor.com, take a few virtual tours, and expect to get a good feel for the area.  If you are considering relocating to the Triangle a short weekend visit will be a good indicator whether you will like it here. I personally am fortunate in that I have lived in the area since 1991 and spent a lot of time on the road since then!! I lived in Chap... 04/15/2007

In conjunction with THE LUCKY DAY Campaign, The Pet Realty NetworkTM is pleased to announce the exciting partnership with SPCA of Wake County. Read full Press Release Here The Pet Realty NetworkTM, launched at the end of January 2007, connects Pet Friendly People with a database of Pet Friendly Real Estate Professionals and their Properties, plus a Pet Resources Directory, up-to-date Pet and Real Estate News and Views, and The Pimms and Friends Photo Gallery where you can upload photos of your pets that link to your professional Pet Realty Network Bio for our local, national or international Visitors.  Please visit us and help support your local SPCA Wake County! 04/09/2007

If you're looking for a great location central to Research Triangle Park, shopping, dining, and the airport look no further than Brier Creek.  This 2,000-acre master planned community developed by Toll Brothers in Raleigh is known for its country club lifestyle, appealing residential neighborhoods, shopping, dining and entertainment.  This location is just off of I-540 and I-70 and came into existence around the time the first section of I-540(the outer loop) opened.  It's unique in that it is convenient to not only Raleigh, RTP and the airport but also the surrounding towns of Durham and Chapel Hill.    The shopping center, Brier Creek Commons, offers the best of retail stores in the area.  Developed by American Asset Corporation it has the large anchor tenants along with smaller speci... 03/15/2007

So what constitutes a Luxury Home in the Triangle?  Next time I'll focus on the properties themselves.  Today I thought I'd write about the market in general.  This market is defined as having residential housing priced at $500,000 and above.     Did you know over 144 homes over $1 Million sold in the Triangle in 2006 alone.  Homes over $1M sold grew by 35%! There were 1,200 closings of luxury priced homes in 2004, 1,500  closings in 2005, and 1,9000 in 2006.  The market grew by 25% compared to 2005.  Even though sales are higher, inventory is up 45% in this segment.   So, where are these buyers coming from with all that cash?  The Top 4 Counties in the United States that sent buyers to the Triangle:    Fairfax, VA Cook, Illinois Los Angeles, CA Suffolk, NY The average % per year gain f... 03/07/2007

Relocation and real estate continue to grow in the Triangle Area of North Carolina.  Realtors are frequently asked why the real estate market in the Raleigh & Cary area is so popular.  Our area received numerous awards of disctinction in 2006.  Below are the most notable.  #1 City for Jobs by Forbes Magazine February 2007#1 City for Federally Funded Economic Development Incentives (Raleigh, NC) Public Policy Forum, March 2006#1 Highest Growth County in NC  - Wake County, NCUS Census Bureau, March 2006#3 Most Educated City (Raleigh, NC)US Census Bureau-American Community Survey, 2004 (Released January 2006)#2 Best Place for Business & Careers (Raleigh, NC)Forbes, May 2006 - We've been in Top 10 for what seems like forever!#5-Star Quality of Life Metro (Raleigh, NC)Expansion Management "Q... 03/02/2007

What do you get in Raleigh for $1,000,000?  One new million dollar home gives you 3-4 bedrooms, 3 Bathrooms, 4000 finished square feet, Dining room, Family room, Office/Study, Kitchen, Breakfast room, Hearth Room, a 3 car garage and a .25 Acre lot if it's inside the beltline or very close to it. What do you get for $4,000,000?  How about 6 Bedrooms, 6 Full Bathrooms, 1 Half Bath, 10000 finished square feet above grade, Living room, Dining room, Family room, Office/Study, Kitchen, Breakfast room, Bonus room, Theatre, Exercise room, Billard room, Nanny Suite, 2 wet bars, elevator and situated on a 1.32 acre lot in the heart of the Inner Beltline. What do you get for $32,000,000?  How about a 20,000 square feet main home and a 3,500 square foot 3 bedroom guest home.  The main home has a 40... 03/02/2007

 The long awaited north Raleigh segment of I-540 from Triangle Town Boulevard to the U.S. 64/264 Bypass in Knightdale opened at 11 A.M. yesterday.  This segment will make travel a lot easier and faster for many people.  It will make traveling from Rocky Mount, Wilson and even Goldsboro much faster to RDU airport and to all areas of north Raleigh.  Of course it will help shorten the daily communtes of people living in Clayton, Knightdale, Garner and other communities east of Raleigh into and through the Raleigh area as well. The rest of the new I-540 section -- from N.C. Highway 54 to N.C. Highway 55 in Research Triangle Park -- should be ready for drivers by August 03/02/2007

In Raleigh, NC, for 154 years the mentally ill have received treatment at the Dorothea Dix Hospital.The hospital occupies approximately 425 acres on a hillside with a great view of Downtown Raleigh.  Dix Hospital is directly across Western Boulevard from Boylan Heights Historic District neighborhood.Across Lake Wheeler Road is Caraleigh, a district of less expensive starter homes.Effective late 2007 to early 2008, Dix Hospital will be closed and patients transferred to Butner, NC.  This will make the land at Dorthea Dix available for use in other manners.  There are, of course, mixed opinions regarding the proper use of this delightful state land.  The City of Raleigh, and the North Carolina State Legislature have a voice in the outcome.  It is nearly a certainty that there will be some... 02/12/2007

Boylan Heights Historic District is another Raleigh Neighborhood blessed with many fine homes from the turn of the 20th century.  Combined with a proximity to North Carolina State University, and the City of Raleigh Downtown area, along with walking distance to Glenwood South entertainment district, Boylan Heights is one of the most desirable neighborhoods in Raleigh.  Raleigh Skyline from South Boylan Avenue, Boylan Heights BB&T Building seen from Kimsey and Cabarrus in Boylan Heights. Typical home sales prices are elevated due to the historic designation of the subdivision, and vary widely due to condition, style, and size of home. Excerpted from the Design Guidelines for Raleigh Historic Districts: Before its development beginning in 1907, the property which is now Boylan Heights was... 02/11/2007

Timberlake was partially mapped in the 1940's as a small subdivision outside Raleigh, North Carolina.  It is blessed with lakes.  The subdivision was originally laid out to include an airstrip for the homeowners, which later was sacrificed for the construction of homes..Over the years it was enlarged and more phases and streets added, but the focus remains the beautiful lakes: Today, Timberlake is a mixture of 1950's homes and modern 1990's homes.  All homes share the beauty of the four private lakes, with many lakefront homes enjoying the year round waterfront paradise. View currently available homes in Timberlake. Homes in this desirable old subdivision seldom go on the market.  Ergo, it is difficult to offer sales information.  Advice?  If one is for sale, and you want it, DON'T HES... 02/10/2007

Within walking distance of downtown Raleigh and North Carolina government complexes, Historic Oakwood is an area of several blocks of homes.  "They don't build them like that anymore!"  Many homes have undergone historic renovation which has saved them from being broken up into apartments or knocked down for new construction.I DID say "Historic" Oakwood!And I have more!History lives in Historic Oakwood!Many homes show the love we have of older architecture. 02/07/2007

The most vibrant neighborhood in Raleigh, NC, Glenwood South is a mixture of restaurants, trendy shops, new condominiums, and nightlife opportunities.   Just blocks from the center of North Carolina government power, the street is a magnet for visitors from across Wake County, and from farther away.The New York Times even featured Glenwood South in an article in the Travel section in February, 2006.   Glenwood South Street ScenesThe success of this area has spawned construction of several nearby condominiums, The Paramount on Boylan Avenue, 222 Glenwood, and on South Boylan Avenue, Bloomsbury Estates Condos.Bloomsbury Estates Condo construction510 Glenwood is a modern mixed-use complexAnd the past is proudly represented by a couple of classic food venues on Hillsborough Street:Great Bur... 02/07/2007