Larry Pulley

Where Great Things Happen! That's the slogan of the Durham Convention and Visitors Bureau. And it's true. There are lots of great things happening in Durham, North Carolina. In October 2008, bon appetit called Durham-Chapel Hill Americas Foodiest Small Town, paying tribute to the great variety and servings of locally fresh foods in the area. In March 2009, Forbes Magazine ranked Durham the #3 Best Place for Business and Careers. In April 2009, Relocate America ranked Durham #5 on its list of Best Places to Live. These are just a few of the accolades the area has recently received.

In the past year alone, the new Durham Performing Arts Center has opened to rave reviews and attendance above expectations. The DPAC has brought Broadway shows and nationally known musicians of all genres to Durham. The original Durham Athletic Park, which was previously the home of the Durham Bulls prior to the building of Durham Bulls Athletic Park, and the site of the move Bull Durham, has undergone a major renovation and is now used as a training facility for minor league baseball. It will also be the future home of a minor league baseball museum.

In the past decade a new shopping center, The Streets at Southpoint, opened in south Durham near I-40, creating an exciting shopping, dining and entertainment complex visited by folks from near and far. Among other anchor tenants, The Streets at Southpoint boasts North Carolina's first Nordstrom. The most interesting part of the mall to me is the open air area, called Main Street, featuring fountains filled with various sculptures of children at play, specialty stores, several fine restaurants, and a 16 screen movie theater.

In 2005, the Nasher Museum of Art was opened on the Duke Universitycampus adding to the numerous cultural offerings of the Triangle Community. In 2008, the Nasher Museum presented an exhibition called "From El Greco to Velazquez, Art During the Reign of Phillip III," offering paintings of Spanish master artists never before presented in the United States.

Durham, NC is home to Duke University and Duke Medical Center, the Festival for the Eno held every year around the 4th of July on preserved public lands at the Eno River, the Bull Durham Blues Festival featuring nationally reknown blues musicians, the American Dance Festival, and the World Beer Festival.

All these things have made Durham, NC an attractive location for people relocating to the Research Triangle Park area of NC. The real estate market has been a beneficiary of the vibrancy of the community as home prices have remained stable despite the economic slowdown.

If you or your clients are thinking of relocating to North Carolina and would like more information on Durham or local housing, please contact Larry Pulley, ePRO,GRI at 919-604-0189, by email at larry@larrypulley.com. Or just visit my website at www.LarryPulley.com.

Home sales for 2009 in the Research Triangle Park area of NC through September still trail prior year sales, but the level of decline is lessening, offering some hope that the local market is coming out of a two year period of negative period over period sales. In the third quarter, sales in Wake, Durham, and Orange counties, the three main counties making up the Triangle were down 9.3% when compared to 2008.

Compared to previous quarters this is a significant improvement. September sales in the Triangle area declined only 7.5% versus September 2008, actually showing a month over same month 2008 improvement in Orange County (Chapel Hill). YTD through three quarters sales are still down over 20%, however. Durham County was holding up the best through 3 quarters with closings for the year down 16.5%. Wake County (Raleigh, Cary, Apex) was down 22.8% and Orange County (Chapel Hill) was down 21.2% .

Despite the slowdown in sales, the average price of homes sold had held up reasonably well in contrast to some other areas of the country. With the continued slowdown, however, home prices are showing some strain (see chart below) particularly in Wake County. (Source-Triangle Multiple Listing Service)

2009 Average Sold Home prices by County (City) through September compared to 1st nine months 2008

Durham (Durham)- $199,009 up 0.3%
Wake (Raleigh/Cary)- $244,227 down 7.8%
Orange (Chapel Hill)- $322,836 down 0.8%

2008 Calendar Year Average prices for homes sold

Durham (Durham)- $196,259
Wake (Raleigh/Cary)- $264,976
Orange (Chapel Hill)- $322,477

Compare to average prices of homes sold in each county in 2007

Durham (Durham)- $198,452
Wake (Raleigh,Cary) $263,342
Orange (Chapel Hill) $342,740

For more information on on the status of the real estate market in areas surrounding Research Triangle Park, including Durham, Chapel Hill, Raleigh, Cary, Apex, Hillsborough and Pittsboro, please contact Larry Pulley at 919-604-0189 or email larry@larrypulley.com.

Today I want to expand on the wonderful amenities and social opportunities in the great southwest Durham, NC neighborhood of Woodcroft. Anyone looking at real estate in the Triangle area should take note.

In addition to a beautifully maintained parkway running through the heart of Woodcroft, the 6 miles of walking trails are a primary attraction for many buyers looking to purchase a home in Durham near Research Triangle Park, Duke or UNC-Chapel Hill. These trails meander throughout the neighborhood, sometimes parallel to Woodcroft Parkway and at other times over the rolling hills and through the woods. The walking trails are easily accessible from just about any residence within the community often as close as the edge of the lot. At any time during daylight hours you will find dozens of people taking advantage of the trails to walk their dogs, get in a fun run or just enjoy the tranquility of the woods.

Another popular amenity in Woodcroft is the Woodcroft Swim and Tennis Club. While membership in this club is separate from the neighborhood dues of $189 per year, the prices for full membership are reasonable, ranging from $888/year for a family, $555/year for a single, to $339 for a Golden Couple over 60 years of age. Full membership includes both the pool and the social activities frequently conducted at the cluhouse. Reduced fees are available for a Social only membership.

The large 330,000 gallon pool features a toddler pool, 98 foot waterslide, 8 competitive lanes for competitive or lap swimming, a deep end with both 1 and 3 meter diving boards, a large pool deck for relaxing or sunbathing, and a seasonal snack bar. The Woodcroft Swim Team competes with other neighborhood teams for local bragging rights. The club also has 4 year round tennis courts, a playrgound, and large recreation areas frequently used as youth soccer fields. Inside the spacious clubhouse is a 24 hour fitness room.

When summer is over, there are still social activities available for both kids and adults at the Woodcroft Swim and Tennis Club. For the kids there are planned parent's morning out sessions, cooking classes, and fun trips planned for the entire family. Adult events include wine tastings, book clubs, poker night, holiday events and more. Something for everyone.

For more information about the Woodcroft community in southwest Durham and its many special features or any other questions about real estate in Durham or Chapel Hill, NC, please contact the SW Durham and Chapel Hill real estate specialist, Larry Pulley at 919-604-0189 or email larry@larrypulley.com.

The Woodcroft community is among the most popular destinations for families looking for affordable homes in Durham, NC and the Research Triangle Park area of North Carolina especially with young families and graduate students at the local universities. Ninety-two homes have been sold in the Woodcroft subdivision YTD through August 2009 with an average sales price of $170,782 and an average price per square foot of $107.56.

The neighborhood, which was among the first Planned Unit Developments in NC when building began in 1983, is perfectly located with easy access to the job centers at RTP, as well as local universities Duke ,UNC-Chapel Hill and NC Central. Woodcroft is located only a mile or so from I-40 which is serves as the main corridor between Raleigh and Chapel Hill with the Raleigh-Durham Airport (RDU) less than 10 miles away.

Shopping is also readily available at the Woodcroft Shopping Center which is anchored by Food Lion grocery store, but also contains a hardware store, a florist, a wine and beer merchant, a Curves fitness center, several fine restaurants, plus other fine stores as well as a few banks. In addition Southpoint Mall, which was opened in 2003 is nearby adding more shopping and dining opportunities.

The Woodcroft community was thoughtfully designed with wooded lots, miles of paved walking trails and an active community center featuring a clubhouse, an Olympic sized swimming pool, tennis courts and soccer fields. The American Tobacco trails also weave through the east side of the neighborhood. Almost any afternoon and definitely on the weekends, you will find lots of people using these facilities which adds to the character and enjoyment of living in Woodcroft.

Within the neighborhood there are numerous subsections, some with single family homes with a wide range of size, style and design, and others with condos or townhomes also of varying sizes and design. This diversity of homes and residents creates a dynamic community which adds to the overall enjoyment of being a part of such a great neighborhood. Prices of homes currently on the market in Woodcroft range from $325,000 for a 3100 square foot detached home to $68,000 for a one bedroom/one bath condo.

For more information on this wonderful community in Durham, NC or with other questions about Durham real estate, contact your Southwest Durham and Chapel Hill specialist, Larry Pulley, at 919-604-0189 or larry@larrypulley.com.