Commerce Department Says New Home Sales Increase

The Commerce Department stated Thursday that the sale of new homes increased by 4.8% last month to a seasonally adjusted annual rate of 770,000 units.  Head analysts had predicted a 2.5% decline for September.  This is by no means a sign that the housing market is turning around as some of the numbers in different areas across the nation skew the overall average.  However, it is nice to see that there may be some hope for the Raleigh and Cary area of North Carolina. The information given above comes from this article.  

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I recently came across an article from MSN.com titled, "Six Team-Building Lessons from the NFL".  No, this was not in the sport's section, in fact, it was in the Business and Careers section.  I have always been a big sports fan and I have always tried to incorporate a competitive spirit in myself and my co-workers.  When I see others attempting to do the same thing, I get excited to see the changes it can make in an office.  Real Estate is an industry that weeds out the ones who don't find the right people to work with.  Just like any sport, if an individual can't work with others effectively, he finds himself searching for a job.  The market calls for a an office with a "team focused" set of individuals, willing to help each other through a transaction.  The agents that are solely focused on earning their next check become a part of that huge turnover rate everyone hears about.  Read this article, keeping in mind that being a part of a team only makes you more appealing to customers and clients.

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I love football.  It brings a tear of joy to my eye when I think about how I can watch a game on Thursdays, Fridays, Saturdays, Sundays and Mondays.  The passion of the game, the frenzy it causes and the sportsmanship shown are just a few of the reasons I look forward to the Autumn months every year.  With so many other sports receiving bad press, it's a relief to see a sport that still holds relatively high standards.  As a Pennsylvania State University student and Big-Ten Conference fan, I was watching the game this past weekend between Northwestern and Duke University. What other sport today, can a team like Duke (22 straight losses) win against a nationally recognized football program?  The parity of the sport makes opportunities like this tangible for programs like Duke.  We should be showing younger generations that playing a sport is not about taking steroids or buying the best talent to make one powerhouse team.  Sports are about work-ethic, teamwork and the occasional hard hit.  The Raleigh-Durham area has many wonderful opportunities for families and friends to get together, watch a game and have a good time.  Visit this site for ticket information about these different venues.

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Members of the Margot's Pond Community are being served with warnings by their Home Owners Association to keep their grass green.  Amid these terrible drought conditions in and around Raleigh some people are taking these restrictions too far.  Many of these HOA agreements, in normal situations, are the best thing to happen to communities.  They keep the property values up, the community looking the way it should, and more than anything, they keep the residents happy.  However, the types of water codes and restrictions that have been enforced recently due to lack of precipitation make it impossible to keep one's grass looking healthy.  It is quite humorous to think that a HOA requires green grass in the middle of one of the worst drought seasons on record.  HOA officials in Cary, Wake Forest, and Raleigh need to start thinking logically and loosen the rules for their residents in the following months.  Everyone wants a healthy and beautiful landscape, but not at the cost of violating city ordinances and water restrictions.  Click here for the News & Observer story. 

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Last week, Countrywide Financial Corporation announced that 12,000 jobs would be cut as a result of the subprime mortgage "mess".  Countrywide plans to cut 20% of it's workforce if the market does not improve.  I am not a mortgage expert but I do have an opinion on the matter.  If Countrywide is vowing to concentrate on more conservative loans, it can mean only good things for the real estate market.  Markets are very volatile right now and are scaring many shareholders. However, is there a small chance that this is a correction that was bound to happen? If we look back to the 2000 “Dot Com Crash", we see many similarities: overvalued stocks with under-delivering companies.  Financial analysts will preach that markets are efficient and will correct themselves when the time comes.  The crash in 2000 was a correction that the market experienced. When lenders began issuing outrageous loans, it started a chain of competition among these big corporations and investors just kept pouring in money.  These actions resulted in bogus loans that made a lot of money for shareholders.  A job cut like the one Countrywide is about to enforce is terrible news for the people involved.  However, with regards to the economy, it will hold these lenders to higher standards and may avoid the same types of issues we're facing today, ten years down the road.

In the Raleigh area we have many lenders and most of our clients have been able to carry a loan without a problem. However, in markets outside of Raleigh, Cary and the Triangle, real estate professionals are feeling the effects.  A correction like the one we're facing today may prevent these types of situations from plaguing more real estate markets across the nation.  

Raleigh isn't the only city with drought issues.  City officials in Durham are setting forth some new water restrictions for it's residents.  City Manger Patrick Baker encourages residents to limit water usage in this article.  Cities around Raleigh and Durham (Cary, Apex) have also been asked in the past few weeks to limit water usage.  North Carolina, and states across the nation, have experienced these drought conditions for quite some time now and people are starting to feel it's effects.  I was recently in Pennsylvania for about two weeks and I noticed similar conditions as I did in North Carolina.  It is a dry, overwhelming heat that only rain can cure.  Soon it will be over and it will be a golfer's paradise here in North Carolina!  Stay cool and save that water!

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Mayor Charles Meeker of Raleigh, North Carolina has proposed that state officials begin a 45 day review of water restrictions in the area.  Officials have been requesting that citizens use less water but these new restrictions have not been thoroughly regulated.  The mayor is proposing that a new program be set forth with fines to regulate the water consumption.  He has proposed that a base amount of water consumption be alloted per family.  Any consumption over that amount will result in a fine. Administrators are hoping that consumption will fall to 55 million gallons a day.  Areas all over Wake County are experiencing the effects of these droughts.  Towns and counties like Cary, Apex, and Holly Springs / Fuquay-Varina are being hit just as hard as the Raleigh area.  For the full story click here.   It is important in times of drought to remind neighbors and friends to watch their water consumption, it will soon be a way to save them money.

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Michael Easley, Governor of the State of North Carolina, has declared that 74 counties are now officially in extreme or severe drought.  He is asking state agencies to discontinue non-essential use of water.  He is asking citizens to reduce water consumption by at least 10%.  The state's office offers some helpful tips to conserve water in the Raleigh and Cary areas. 

SOME HELPFUL TIPS:
- Only using the dishwasher with full loads, and using the "water-saver" setting, if available.
- Taking short showers. Five minutes or less should do. If you prefer baths, fill the tub only one-quarter full.
- Find out how much water your lawn really needs. More than 50 percent of the water applied to lawns and gardens is lost due to evaporation or runoff because of over watering. As a general rule, most lawns and gardens require little more than one inch of water per week.

NC fire departments have been extremely busy lately as well with over 350 wildfires in August.  Governor Easley says that this is an extreme situation that is affecting counties all over the state and people need to start paying closer attention when they are grilling out or building campfires.  For the full story click here.

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Just when you thought that Raleighcouldn't possibly need another golf course community, Creedmore Partners has developed Hasentreein North Raleigh.  A community that offers a housing community, family activity centers, a Tom Fazio Golf Course, gyms, childcare and much more.  This is the type of place that will drive even more people to the beautiful city of Raleigh.

The plans for a housing development have been included in the proposal for this new community.  Properties in a place like Hasentree will certainly sell at a premium.  This new golf course community has already received a great deal of press and the lots will be selling very quickly.  ListWise Realtyis the perfect brokerage for people interested in a place like Hasentree.  ListWise offers buyers up to 50% instant commission refundson any home in the MLS.  Don't pass up on an opportunity to live in this beautiful new community, receive full service real estate, and save thousands of dollars using a ListWise agent today.    

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     Local government officials in Raleigh NC have decided to spend $420,000 on improvements to Capital Blvd.They are planning on adding crosswalks, islands, and pedistrian controlled signs at four different locations on this always busy road.  Complaints by people that use the public transportation system, or use Capital Blvd. have certainly had an effect on government opinion.  Showing someone that the roads in our communities are being improved all of the time to better the flow of traffic and safety of pedestrians, can only help real estate professionals.  Capital Blvd. is often times a highway that real estate agents utilize in order to travel to and from different locations.  I am pleased to know that when I am assisting clients, they will be able to see the government's strive for safety in the area.  For the full story click here. 

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