Orange County North Carolina property tax revaluations for 2009 will be mailed to homeowners by the end of 2008. In North Carolina, counties can revalue properties for tax purposes every 4 or 8 years. Orange County has historically done this every 4 years.
Click her for information about the revaluation process and how to appeal your valution.
If you think you could not sell your home at or above the new tax value, you should submit an appeal.
Contact Team Jodi if you need help valuing your property and working through the process. We can be reached at 1-88-TeamJodi or Jodi@TeamJodi.com.
Durham North Carolina Home Sales -- October 2008 Market Snapshot
| Durham County | October 2007 | October 2008 | % Change |
| Number of detached sales | 260 | 196 | -24.62% |
| Number of condo sales | 26 | 26 | 0.00% |
| Number of townhouse sales | 12 | 1 | -91.67% |
| Number of new construction sales | 95 | 70 | -26.32% |
| Number of re-sales | 203 | 153 | -24.63% |
| Average detached sales price | $214,249 | $212,107 | -1.00% |
| Average condo sales price | $171.788 | $170,019 | -6.85% |
| Average townhouse sales price | $284,500 | $200,000 | -29.70% |
| Average new construction sales price | $259,688 | $203,543 | -21.61% |
| Average re-sales price | $191,708 | $207,095 | +8.03% |
| High Sale price detached | $766,000 | $1,475,000 | +92.56% |
| High Sale price condo | $375,500 | $295,500 | -21.09% |
| High Sale price townhouse | $765,000 | $200,000 | -73.86% |
| High Sale price new construction | $766,000 | $763,000 | -0.39% |
| High Sale price re-sale | $765,000 | $1,475,000 | +92.81% |
| Average Sales Price for ethe entire area | $213,373 | $205,980 | -3.46% |
| Number of Listing for the entire area | 2261 | 2135 | -5.57% |
| Average List price for New Construction | $299,606 | $292,995 | -2.21% |
| Average List price for Re-sale | $224,419 | $232,519 | +3.61% |
| Average List price for the entire area | $244,338 | $246,796 | +1.01% |
Contact Jodi Bakst, Broker, CRS, GRI, ABR, Certified Distressed Property Expert, and Certified Luxury Home Specialist in Chapel Hill, NC at 1-88-TeamJodi (888-326-5634) to list your property for sale or to purchase a property in Chapel Hill, Carrboro, Durham, Hillsborough, Pittsboro or Orange, Durham or Chatham County North Carolina. Team Jodi is accepting referrals.
Click here to learn more about Team Jodi and our services.
Click here to view Team Jodi's listings click here;
If you are looking to list your home in Chapel Hill, Carrboro, Orange or Durham County North Carolina, call Team Jodi toll free at 88-TeamJodi (888-326-5634), email us at Jodi@TeamJodi.com or visit us at www.TeamJodi.com.
GlaxoSmithKline will make Research Triangle Park its sole U.S. headquarters and cut almost 2,000 sales jobs, the company said recently. The move eliminates the dual headquarters that London-based GSK has had in the U.S. since the 2000 merger that created GSK. Company spokeswoman Mary Anne Rhyne says the move makes sense in the midst of a major restructuring for GSK, "The announcements today are all aimed at streamlining the organization, and simplifying the business model." RTP was picked over its Philadelphia office in part because the company has a bigger footprint here. The company has about 5,000 workers in RTP and owns 35 buildings on that campus. Rhyne says GSK also expects its new head of U.S. pharmaceuticals to be based in RTP. Chris Coletta of the Triangle Business Journal filed the following story.
GlaxoSmithKline will make Research Triangle Park its sole U.S. headquarters and cut almost 2,000 sales jobs, the company said Wednesday. The move eliminates the dual headquarters that London-based GlaxoSmithKline (NYSE: GSK) has had in the U.S. since the 2000 merger that created GSK. Since that deal, which combined Glaxo Wellcome with SmithKline Beecham, GSK has had one U.S. headquarters in RTP - the home base of Glaxo Wellcome - and another in Philadelphia, former home of SmithKline Beecham's American headquarters. Company spokeswoman Mary Anne Rhyne says the move makes sense in the midst of a major restructuring for GSK, which is tweaking its business model and cutting jobs worldwide in the face of increased competition from generic medicines and a slowing drug pipeline. "The announcements today are all aimed at streamlining the organization, basically," she says. "Simplifying the business model. And we realize that having both RTP and Philadelphia designated as operational headquarters for the U.S. was confusing to many people." A simple example, Rhyne says: Customers who wanted to call GSK operations weren't always sure whether they should phone Philadelphia or Raleigh. Now, they'll have a better idea. RTP was picked over Philadelphia in part because the company has a bigger footprint here, Rhyne says. The company has about 5,000 workers in RTP and owns 35 buildings on that campus. In Philadelphia, the employee base is about 1,500, and GSK leases real estate. Rhyne says GSK also expects its new head of U.S. pharmaceuticals to be based in RTP. Chris Viehbacher, who formerly held that job for GSK before leaving to take the chief executive post at Sanofi-Aventis, also worked out of the Triangle. The headquarters move also coincides with the rise of Glaxo Wellcome veteran Andrew Witty to chief executive of GSK. Former CEO J.P. Garnier was a SmithKline Beecham man. Rhyne says she's not sure what the practical implications of the headquarters move might be. The company has no plans to abandon Philadelphia, she says. "What does it really mean? I don't think we know yet," she says. "This is the first bit of restructuring. There's more to come. We don't really know what the complete package will be." GSK has cut hundreds of jobs in the Triangle and thousands worldwide since announcing, in October 2007, a $1.4 billion cost-cutting program. Local job cuts have included administrative, scientific and sales workers in Research Triangle Park as well as manufacturing workers at GSK's plant in Zebulon, where about 900 are still employed.
Sales cuts
That restructuring continued Wednesday, when Glaxo said that it will cut 1,800 positions from its sales force - a move that includes 1,000 layoffs. The company isn't breaking down the layoffs by region. The cuts are part of an overall rethinking of how GSK sells its medicines. Witty, the new CEO, has said that the pharmaceutical industry is seeing diminished returns from its current model of visiting doctors frequently to hawk drugs. Between ever-increasing patient workloads and the increasing prevalence of generic medicine, Witty says, doctors simply don't have time for the "ultra-high-frequency" model of selling. Now, Rhyne says, the company's goal is to have "a smaller number of sales reps with broader information." Sales teams will be broken down by therapeutic areas instead of geographic locations. That means reps who now sell a smorgasbord of different drugs will instead be knowledgeable in a wide range of drugs in one area - respiratory disease, for example, or cancer. "We've got the marketplace changing," Rhyne says. "Our customers are changing. The health care professionals don't want to see as many sales reps, but they do need detailed information." Sales representatives in different areas will work on the same therapeutic areas, but they'll all report to one person, Rhyne says: the new head of U.S. pharmaceuticals. Witty has said he doesn't expect to hire someone for that position before the first quarter of 2009. In the meantime, two Glaxo veterans - one in RTP, the other in Philadelphia - are running the U.S. pharmaceutical organization.
Contact Jodi Bakst, Broker, CRS, GRI, ABR, Certified Distressed Property Expert, and Certified Luxury Home Specialist in Chapel Hill, NC at 1-88-TeamJodi (888-326-5634) to list your property for sale or to purchase a property in Chapel Hill, Carrboro, Durham, Hillsborough, Pittsboro or Orange, Durham or Chatham County North Carolina. Team Jodi is accepting referrals.
Click here to learn more about Team Jodi and our services.
Click here to view Team Jodi's listings click here;
If you are looking to list your home in Chapel Hill, Carrboro, Orange or Durham County North Carolina, call Team Jodi toll free at 88-TeamJodi (888-326-5634), email us at Jodi@TeamJodi.com or visit us at www.TeamJodi.com
Officials are now thinking a future rail-based transit system in the Triangle can use lightweight coaches and engines over its entire 56-mile length, rather than the heavyweight units they once envisioned. The potential change in approach comes after managers of the N.C. Railroad Co. signaled last month that they believe the region's main east-west rail corridor is wide enough to support a stop-and-go light-rail system for local traffic and heavier commuter trains for people arriving here from places as far afield as Greensboro and Goldsboro. Light and heavier rail would share the corridor with the Norfolk Southern and CSX freight trains that will continue traveling through the area, planners say. "It's been done elsewhere," Durham Transportation Manager Mark Ahrendsen said, "Definitely not on the same tracks, but on the same right of way."
Below is the full story written by Ray Gronberg of The Herald Sun.
DURHAM -- Officials on both sides of the Triangle are now thinking a future rail-based transit system here can use lightweight coaches and engines over its entire 56-mile length, rather than the heavyweight units they once envisioned. The potential change in approach comes because managers of the N.C. Railroad Co. signaled last month that they believe the region's main east-west rail corridor is plenty wide enough for it. Not only can the 200-foot-wide right of way accommodate a stop-and-go light-rail system for local traffic, railroad officials think they also can fit in heavier commuter trains for people arriving here from places as far afield as Greensboro and Goldsboro. And all that could share the corridor with the Norfolk Southern and CSX freight trains that will continue rumbling through the area, planners say. "It's been done elsewhere," Durham Transportation Manager Mark Ahrendsen said. "Definitely not on the same tracks, but on the same right of way." By opening the door for light rail, the railroad's stance is allowing officials to rethink the former Triangle Transit Authority's old scheme of running heavyweight, diesel-powered passenger trains on the existing rail corridor from Raleigh to Cary to Durham, and light rail or buses on a new corridor from Durham to Chapel Hill. So far, they're enthusiastic about the possibility of running light rail throughout the system because it could do away with the need for passengers traveling to or from Chapel Hill to change from one line or another near Duke University.
Long seen as a flaw of the old TTA plan, that break in the system was considered likely to cost it riders. And because streetcar-like light-rail trains are, well, lighter, less bulky and more nimble than their mainline-style cousins, planners could route them to places off the existing corridor such as N.C. Central University and parts of RTP, Ahrendsen and Triangle Transit General Manager David King said. Light rail is also in some ways easier to build because bridges, roadbeds and other structures don't have to be as heavily reinforced as those that carry mainline traffic, King said. But planners don't think that would translate into cost savings. Unlike the trains in the old TTA plan, light rail would run on electricity and likely draw power from overhead wires. Those and their support structures could very well make a light-rail system slightly more expensive than a heavy one, Ahrendsen said. King said a key problem planners would face early on is convincing federal railroad regulators that light rail could share the corridor with freight trains safely. They'd likely have to leave lots of space between tracks, and figure on installing devices on the light-rail trains that would warn operators if a freight derailment has blocked the corridor, King said. Regulators would demand such concessions because "when a relatively light vehicle in terms of structure is cheek and jowl with a locomotive that weighs many times more, if the two were to collide, you know who wins that battle," King said. "It's like a Mini Cooper hitting an 18-wheeler." Separate transportation planning groups based in Durham and Raleigh are in the midst of rewriting their long-range wish lists for road and transit construction. The light rail option has emerged as a contender for addition to them, Ahrendsen said.
Contact Jodi Bakst, Broker, CRS, GRI, ABR, Certified Distressed Property Expert, and Certified Luxury Home Specialist in Chapel Hill, NC at 1-88-TeamJodi (888-326-5634) to list your property for sale or to purchase a property in Chapel Hill, Carrboro, Durham, Hillsborough, Pittsboro or Orange, Durham or Chatham County North Carolina. Team Jodi is accepting referrals.
Click here to learn more about Team Jodi and our services.
Click here to view Team Jodi's listings;
If you are looking to list your home in Chapel Hill, Carrboro, Orange or Durham County North Carolina, call Team Jodi toll free at 88-TeamJodi (888-326-5634), email us at Jodi@TeamJodi.com or visit us at www.TeamJodi.com
After examining delaying property revaluations for one year, Chatham County Commissioners said they would not hold off but institute new values on January 1. Initially, the Commissioners were interested in delaying the revaluation to give tax payers a financial break, however data from the County tax office show the savings would not be significant. George Lucier, chair of the Commissioners says, "The estimated costs of a one-year delay were considerably higher than initial reports indicated." The full story below was written by News & Observer staff writer, Jim Wise.
Chatham County Commissioners will not delay home revaluations after research showed a one-year delay would hurt property owners and the county more than expected. Commissioners had looked at delaying revaluations for one year to give residents a break during this economic downturn, according to a news release from Chatham County. Commissioners decided Monday to proceed as originally planned. This means that new values will take effect Jan. 1. Information from the county's tax office showed the potential benefits were not substantial enough to delay revaluation until 2010, said Commissioners Chairman George Lucier in the release. "The estimated costs of a one-year delay were considerably higher than initial reports indicated," Lucier said. Revaluation is a state-mandated process to ensure that property owners are paying their fair share of property taxes based on current market values. Chatham County revalues property every four years.
Contact Jodi Bakst, Broker, CRS, GRI, ABR, Certified Distressed Property Expert, and Certified Luxury Home Specialist in Chapel Hill, NC at 1-88-TeamJodi (888-326-5634) to list your property for sale or to purchase a property in Chapel Hill, Carrboro, Durham, Hillsborough, Pittsboro or Orange, Durham or Chatham County North Carolina. Team Jodi is accepting referrals.
Click here to learn more about Team Jodi and our services.
Click here to view Team Jodi's listings.
If you are looking to list your home in Chapel Hill, Carrboro, Orange or Durham County North Carolina, call Team Jodi toll free at 88-TeamJodi (888-326-5634), email us at Jodi@TeamJodi.com or visit us at www.TeamJodi.com
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Whether you are buying or selling property in Chapel Hill, Carrboro, Durham, Hillsborough, Raleigh, Cary, or Apex NC, Team Jodi provides seamless customer service throughout the transaction.
Jodi Bakst, Broker, Realtor, CRS, GRI, ABR, CLHMS, CDPE
Jodi Bakst has lived in Chapel Hill since 1990 and been a Realtor since 1997. She is known in her market as a consistent top producer because she is focused on real estate as a true business. She has spent years building a very effective Team. She goes to great lenghts to effectively use technology in her business. She has two excellent buyer agents with incredible experience in design, real estate law, and negotiation. They all have exceptional experience with the relocation process and the local schools throughout Orange, Durham and Chatham Counties. Jodi is a Broker, and holds the following designations, Certified Residential Specialist, Certified Luxury Home Marketing Specialist, Certified Distressed Property Experts, Graduate Realtor Institute and Accredited Buyer Representative. She is also on the North Carolina Association of Realtors Forms Committee and the Greater Chapel Hill Association of Realtors Board of Directors. She is married with two children and is active volunteer in the Jewish community. She has an MA in Public Health from UNC-Chapel Hill and a BA in Economics from the University of California Santa Cruz.
You can contact Jodi Bakst at Jodi@TeamJodi.com.
"We want you to know how much we appreciate all that you did to make the sale of our house happen, and so quickly! We have never worked with a more dedicated Realtor - we felt that we were your priority and that you bent over backward to make everything go smoothly. Thank you so much for the time, resources, and care you put into us. We will certainly highly recommend you to anyone we can! Lisa & Mike Carboni Jodi and her team were professional from the moment we met them. When we saw the brochures she designed for our home, we were amazed at the color and the format. They were top notch. Jodi kept us posted Arnold & Fern Rothman
throughout every step of selling our home. Every phone call was returned immediately. If she was out
of the office with a client, her assistant Jeff would contact us. It was very apparent they had total
communication throughout the process; Jeff is extremeley in tune with everything that is going on.
Jodi sold our home in 5 weeks! Her exposure in the realty world seems far greater than any realtor.
Being extremely detailed oriented sellers, we realized Jodi was so competent that we left most of
the process to her; she was truly one step ahead of us. This was the most stress free sale of a home
we have ever been through. Jodi also got us more for our home than we were going to settle for. We highly
recommend Jodi and her team; using any other realtor in our opinion would be a big mistake!
“We interviewed five agents before choosing you. We were incredibly impressed with your presentation. We were not getting an agent...we were getting a team. You kept every promise you made. We were confident that through your extensive systems our home was well marketed to Realtors and buyers. Your brochure on our home was gorgeous. You helped put our house in the best light with the use of your interior design specialist. You had us under contract with a back up offer quickly and for more money than we imagined. Thank you for everything. Your teamwork, professionalism and knowledge of the business put you over the top.”
Richard and Cami Gilman Previous Owners of 125 Cedar Lane Farm, New Hill
“Sue and I were very pleased with the results achieved after listing our house for sale with you. The house sold within days at our asking price with a back-up offer on the table. We believe that these results in a large part were due to your advice for preparing our house for sale and the activities that you undertook to market the house to other realtors and potential buyers. We could not ask for better service before, during, and after the sale than that we received from you and your team Thank you for all that you did.
”Tom and Sue Covalla Previous Owners of 8400 Sterling Bridge, Chapel Hill
“We are very grateful to Jodi and her Team for helping us sell our house on the terms owe wanted after only one week. The marketing plan and preparation of our house for showing were done beautifully, and up until closing every time I asked “Please, take care of this,” they did. Great job!”
Ted and Nancy Salmon Previous Owners of 1706 Claymore Road, Chapel Hill
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