| September 1, 2005 |
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Located halfway between North Carolina's beaches and mountains, Raleigh is a delightfully sophisticated and hospitable city with a rich history, beautiful setting and world-class educational and business opportunities.
"Our local real estate market has seen a remarkable surge in buyer activity," says Menges. "Many neighborhoods have seen sufficient gains that real estate appraisers are having difficulty in justifying some sale prices."
Raleigh ranks in the Top 10 of "Relocation Hot Spots." RELO, a large, independent relocation network reports that Raleigh ranks #6 in the list of most popular cities for relocation of corporate-sponsored transferees, second-home buyers, retirees, and those who can work virtually anywhere and are focused solely on lifestyle. Raleigh is seen favorably according to the network because "the average home price is $259,703, the cost-of-living index is 103, and there is one Fortune 500 firm. The area is an educational hub with several highly-regarded learning institutions." Cities ranking above Raleigh were Washington, DC, Jupiter, FL, Atlanta, GA, Chicago, IL, and Dallas, Texas. Freeman explains, "The neighborhoods of Raleigh, Durham and Chapel Hill are the essence of this North Carolina region. While new construction is following the predetermined paths established by the Interstate and inner and outer beltways, older homes closer to downtown are being renovated to preserve the architectural heritage of these cities. Outlying towns are quickly becoming the neighborhoods of choice for many newcomers. As new communities are built, retail and commercial developments are soon to follow. The outlying municipalities of Garner, Clayton, Fuquay-Varina, Apex, Holly Springs and Morrisville are experiencing tremendous growth and are attracting newcomers' attention with affordable housing options. Best known for outstanding universities and colleges, the Triangle is home to N.C. State in Raleigh, UNC in Chapel Hill and Duke University in Durham. While there is so much to see and do in the Triangle, residents love the fact that the coast is less than two hours away and a weekend trip to the mountains requires just a three-hour drive. Locally, there are several lakes that provide weekend retreats from the warm summer months. And William B. Umstead State Park provides a great escape outdoors for the entire family."
Continues Stibb, "Due to its popularity and location, the area inside the beltline has seen dramatic increases in property values. North Raleigh is considered the area just north of the Interstate 440 (the beltline's inner loop). With the recent opening of Interstate 540 (the outer loop) new home growth had sprouted in North Raleigh -- which now offers an easy commute to almost any Triangle attraction. Raleigh offers a large selection of older and newer homes at affordable prices. Mid-range to upscale homes on tree-lined streets can be found in many of the diverse neighborhoods." "Condominium and townhouses start at less than $100,000, while single-family homes start at about $150,000 and go to over $2 million for large estate properties." |
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