iRaleighRealEstate Blog

The economy grew faster than expected at the end of last year, though the engine of that growth, companies replenishing stockpiles, is likely to weaken as consumers keep a lid on spending.

The 5.7 percent annual growth rate in the fourth quarter was the fastest pace since 2003. The Commerce Department report Friday is the strongest evidence to date that the worst recession since the 1930s ended last year, though an academic panel that dates recessions has yet to declare an end to it.

The two straight quarters of growth followed a record four quarters of decline. Still, the expansion in the fourth quarter was fueled by companies refilling depleted stockpiles, a trend that will eventually fade. Some economists worry that when that happens, the recovery could

Growth exceeded expectations mainly because business spending on equipment and software jumped 13.3 percent — much more than forecast. It’s the second quarter in a row that business spending has increased, after six quarters of decline.

Hopefully, this is good news for the Raleigh real estate market.  We’re seeing signs of growth here in the Triangle area of North Carolina and the homebuyer tax credits have been extended.  Call the Freeman/Davis Team at Coldwell Banker and we can review your real estate goals and form a plan that will aid you in attaining those goals.  Visit us online at www.HomeSearchRALEIGH.com and www.FreemanDavisHomeTeam.com for more details. Find us on Facebook at www.HomeSearchRALEIGH.info.

Sales of new and existing homes in the Triangle jumped 43 percent in December over a year ago, but the average price on each sale continues to be depressed, according to data released Wednesday by the North Carolina Association of Realtors.

Last month, 1,554 homes were sold in the Triangle, compared with 1,089 in December 2008. The average sale price dropped from $236,888 to $222,590 during that period.

Statewide, home sales increased by 19 percent from December 2008. For the year, however, sales were off by 12 percent from 2008 totals.

A federal tax credit for home buyers, which has been extended through April, has been credited for similar jumps in sales nationwide in recent months. First-time buyers can get a credit on their income taxes of up to $8,000, while existing homeowners can qualify for up to a $6,500 credit for buying another house.

The Realtors group said December marked the seventh consecutive month of year-over-year improvements to North Carolina’s housing market.

December sales also jumped in the Rocky Mount and Pinehurst markets, up 16 and 27 percent, respectively. But they declined by 9 percent in Fayetteville and 34 percent in Goldsboro.

If you’re looking to make a move to the Raleigh area, contact the Freeman/Davis Team at www.FreemanDavisHomeTeam.com and www.HomeSearchRALEIGH.com. We are area experts, having lived here most of our lives. Call us at 919-649-6638 and let’s talk about your next real estate move. In fact, regardless of where you are moving to or from, we can help with our network of great real estate agents across the country. Visit www.CertifiedRelocators.com for more information and registration.

The Freeman/Davis Home Team offers a special home pricing analysis called the “Residential Value Analysis.” Our program takes into consideration, inventory, absorption rate, replacement cost, appreciation and risk assessment. This program is far superior to the current “Comparable Market Analysis” offered by other agents. We would be happy to discuss this with you and show you our Ten-Step Marketing Plan. Visit us online at www.FreemanDavisHomeTeam.com and www.HomeSearchRALEIGH.com or call us at 919-649-6638. With the heart of a teacher, we’ll educate you on market conditions and values. Our goal is to help you make good decisions. For news and views from the Raleigh area, visit www.iRaleighBlog.com and www.HomeSearchRALEIGHBlog.com.

We hope the information provided here assists you in getting familiar with what I hope will become your new hometown. For additional information about the Raleigh/Durham area, please visit our website at www.HomeSearchRALEIGH.com!

Remember, The Freeman/Davis Team, Rick Freeman and Amy Davis, is here to help you make smart choices in your biggest investment.

Become a HomeSearchRALEIGH Fan on Facebook at http://tinyurl.com/homesearchraleighfacebook.

Are you a Facebooking Triangle TRACKS parent? If so, you may already be a fan of Triangle TRACKS’ Facebook Fan Page. If you aren’t yet, here are a few good reasons to “fan” Triangle TRACKS on Facebook today.

Triangle TRACKS is an acronym for “Tools, Resources and Activities for Carolina Kids” and is located at http://www.triangletracks.com. This social network consolidates local children’s resources for Triangle parents. Any Triangle TRACKS member who is also a fan of the social network’s Facebook page will be automatically entered into a random drawing TWICE to win these great prizes:

- 1 Nick Jr. show family 4-pack for “Nickelodeon Storytime Live” Sat. May 15 show at 2 p.m. at Progress Energy Center for the Perfoming Arts in Raleigh.

- 1 Family Pass to the Museum of Life and Science in Durham

- 3 Bounce Back BounceU Reward Passes (to be used during Open Bounce sessions)

- 1 Sitter Connection Premium Annual Membership (enables you to contact Sitter Connection up to five times/month to request a sitter. They do the legwork to find a sitter for you; you pay the sitter directly.)

The names of Facebookers who become fans of Triangle TRACKS’ Facebook page but have not become members of Triangle TRACKS will be entered into our random drawing one time only.

Triangle TRACKS uses its Facebook page to post links to fun events and interesting topics, so these posts appear in fans’ Facebook feeds. Many of the fans find this convenient and helpful.

The contest closes Jan. 21 at midnight and the winer will be announced Jan. 22 at noon. Visit Triangle TRACKS’ Facebook Fan page at this link:

http://www.facebook.com/pages/Triangle-TRACKS/61147979949

Thanks for visiting our blog today.  If you or someone you know needs expert real estate advice and assistance, call the Freeman/Davis Team at 919-649-6638 or visit www.HomeSearchRALEIGH.com