I have posted the home sales report for March on my Raleigh Real Estate News blog. Please be sure to visit for details about recent sales totals, average prices, etc... as compared to last year.
The Timber Drive Extension in Garner will open a whole new level of convenience for are residents offering quicker access to White Oak Shopping Center. Here's the latest update regarding the coming transportation improvement project:
| NC Department of Transportation Will Begin Construction of the Timber Drive Extension This Summer
The Town of Garner was recently updated on the status of the Timber Drive Extension project. North Carolina Department of Transportation officials confirmed completion of the final construction plans, receipt of all needed permits, and that all right-of-way issues have been settled. Land for the road and utilities has been acquired, along with easements and environmental permits to allow the project to move forward. Bid advertisement for construction should begin around mid-May. Barring no unexpected delays, construction should begin in late Summer 2010. Jim Speer, from the NC Department of Transportation stated, "The project is scheduled to be let to contract on May 18, 2010. If acceptable bids are received, the Board of Transportation should award a contract to the low bidder at its June 2010 meeting. Construction should begin in July 2010. The estimated time to complete the construction is 2 1/2 years." The 1.3 mile, $19 million project, has been the town’s top road construction priority. The Town will contribute $2.4 million to the project, but the majority of the funds will come from the NC Department of Transportation. Funds provided by the Town will help to cover any miscellaneous fees and upgrades and provide for the construction of sidewalks on both sides of the road. Timber Drive was completed around 1994. The four-lane extension will connect N.C. 50 to White Oak Road near the White Oak Crossing Shopping Center. Garner continues to see an increase in commuter traffic on Highway 70, and from N.C. 50 to Timber Drive, as they travel into Raleigh, Durham and Research Triangle Park. When completed, the extension will allow easy access to the Shopping Center and improve the flow of traffic from western Johnston County into and around the Garner area. "Promoting the Timber Drive Extension has been a priority for me since I began representing Garner. It will increase economic development and mobility in a critical area. Working on this project has been a labor of love." stated NC House Representative, Deborah Ross. If you have questions about this project, or need additional information, please contact Brad Bass, Director, Town of Garner Planning Department at bbass@garnernc.gov or call 919-772-4688. |
| Contact Information: Michelle Howell Public Information Officer Town of Garner 919.773.4418 mhowell@garnernc.gov |
I mentioned unemployment in my post Pending home sales improve yesterday but I didn't mention unemployment rates for the Raleigh area. My posts are supposed to be related to the local Raleigh real estate market and not just the national market.
According to BLS statistics from January 2010 for Raleigh-Cary, the rate of unemployment is 9.5%. The national average in January was 9.7%. However, statewide unemployment in NC was 11.1%. Reported NC numbers for February increased to 11.2%.
Employment Security Commission of North Carolina- Monthly activity for Jan- Feb 2010
I have not heard anything about Tookies Grill opening up in Garner, but a quick drive down 5th Street to Aversboro Road wrote the headline! They are located at 1322 Fifth Ave. in the Forest Hills Shopping Center. I realized after I passed that I saw the marquis sign was up and they were busy working inside. They make awesome chicken salad!
In other notes about Garner, the new Planet Fitness is under construction at 1885 Aversboro Road, in the Timber Landing Shopping Center next to Lowes Foods. They hope to open by late spring.
Last, but not least, they are making progress on the new Char-Grill in White Oak Crossing.
[caption id="" align="aligncenter" width="366" caption="Tookies is one of many new businesses coming to Garner"]
[/caption]
Existing home sales reports for the southern region (Last I checked, Raleigh is in the south, right?) dropped 2.4% from January to February 2010 but rose 3.8% over Feb, 2009.
Lawrence Yun, NAR chief economist, said widespread winter storms in February may mask underlying demand. “Some closings were simply postponed by winter storms, but buyers couldn’t get out to look at homes in some areas and that should negatively impact near-term contract activity,” he said.
The national average sales price dropped 1.8% from Feb, 2010 while distressed sales accounted for an estimated 35% of total home sales.
If you can swing it, now is a great time to buy. The market is still sluggish but it is picking up steam in Raleigh as several national home builders have begun buying existing building lots in the area. You can qualify for up to $8,000 as a first time buyer using the home buyer tax credit. As a move up buyer, you can qualify for up to $6,500 in tax credit. You’d better start working on it though because time runs out April 30!
Molony, Walter. 3/23/2010. February Existing-Home Sales Ease with Mixed Conditions Around the Country. http://www.realtor.org/press_room/news_releases/2010/03/ehs_ease. Accessed 3/23/2010. Continue Reading Comments(0) Home Sales Data
Realtor by day. Family man by night. Guitar slinger in my dreams.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
