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Wendy Tanson - Chapel Hill Area Real Estate

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Maket Data for May

06-21-10
Wendy Tanson - Chapel Hill Area Real Estate
The market statistics for May just became available. Here's the scoop:

Across the Triangle, closed sales are up 20% year to date, and average sales price is down 1%. Average days on market is at 103, and list to sales price is steady at 96.4%.

In the Chapel Hill/Carrboro market, sales are up 29% year to date, prices are down 11%, and days on market is 110. Average list to sales price is steady at 96.3%. I think the price drop here is at least partially due to lower priced properties selling, rather than prices actually falling 11%. There has been continued softening in pricing in some areas of the market, but certainly not across the board and not that significantly.

In Hillsborough, sales are up 21%. Prices are down 6.3%, and days on market stands at 106. List to sales price is averaging 97.3%, which is an improvement over last year's numbers.

In Orange County, sales are up 22.4%. Prices are down 4.3%, and days on market is steady at 104. Average list to sales price is also steady at 96.1%.
In Durham County, sales are up 12.8% this year to date versus last. Prices have fallen by 4.9%, and days on market is favorable at 86. List to sales price is 96.7%, which is an improvement over last year.

In Chatham county, sales are up 30% year over year, prices are down 3.3% and days on market has increased signficantly, from 115 to 140. List to sales price is steeady at 95%, though this is a lower percentage than other areas of the Triangle.

In general, I would anticipate June closed sales to be strong, but pendings to be down significantly. Activity has slowed since early May, which will be reflected in the June pending numbers and in the July closed numbers. In fact, showings were down 30% in May and pendings were down 5% across the Triangle. With the stock market volatility, BP spill, mixed economic numbers and expiration of the housing tax credit, buyers have retrenched in our area., across all price points. Hopefully, we'll see a resurgence of activity in the coming weeks.
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Newsweek Ranks Several Area Schools Among Best

06-21-10
Wendy Tanson - Chapel Hill Area Real Estate

The Newsweek rankings are out for the the best high schools in the U.S., based on AP courses and International Baccaulaureate programs. Several area high schools made the list, which included 1600 schools across the U.S., or the top 6% of all high schools as based on these criteria. Here's the scoop for Orange, Durham and Chatham counties:

Woods Charter School, Chapel Hill (Chatham county): 107

East Chapel Hill High: 118

Chapel Hill High School: 214

Durham School of the Arts: 251

Jordan High, Durham: 415

Riverside High, Durham: 839

Northern High, Durham: 1056

Carrboro High is still too new to be ranked; hopefully the school will be included next year when the first class graduates.

So if you own property (or are considering property) in one of these school districts, it's always a positive to be a part of the Newsweek rankings.

To check out the full list, visit http://www.newsweek.com/feature/2010/americas-best-high-schools/list.html

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Chapel Hill's University Mall to get Makeover

04-21-10
Wendy Tanson - Chapel Hill Area Real Estate

University Mall is getting a makeover! There will be a new entrance to A Southern Season off of 15-501, as well as a renovated interior and new landscaping and outdoor seating. They management company is also courting new businesses, including women's clothing stories, locally owned restaurants, and a new bookstore to fill the hole left by Walden Books earlier this season. The work at the mall and new tenants are expected to add 250 jobs to the area as well. The driveway is expected to open late June, and the exterior renovations by late August or early September.

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NC Appliance Instant Rebate Program Starts Tomorrow, 4/22

04-21-10
Wendy Tanson - Chapel Hill Area Real Estate

All,
North Carolina's weekend for the federal appliance rebate program starts tomorrow, 4/22, and runs through Sunday the 25th. The program provides instant rebates of 15% to shoppers for energy efficient washers, refrigerators, dishwashers and freezers. You must be turning in an old appliance to qualify, which must be picked up when the new appliance is delivered. The program allows buyers to purchase up to one of each type of appliance. North Carolina has been allocated $8.8 million for the event, which will be in effect until the money runs out. So if you'd like to snatch up a spanky new fridge or energy efficient washing machine for 15% off, do so earlier in the weekend rather than later.
In addition to the federal instant rebate, many retailers are offering an additional 15% off, such as Lowe's, Home Depot and Sears. They will continue to offer their discounts even after the federal money has been fully allocated to shoppers.

Happy Shopping!
With best wishes,
Wendy

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WRAL.com interview on Home Staging, Green Trends, and Market Conditions

03-18-10
Wendy Tanson - Chapel Hill Area Real Estate

I was recently interviewed by Jeremy Salemson of "Today in Real Estate" for WRAL.com. Jeremy and I discussed the new book "Sell Your Home Fast in a Buyer's Market', including the areas of home staging, green trends, and market conditions in Orange and Durham counties. "Sell Your Home Fast" interview.

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