Raleigh, North Carolina.  Downtown Raleigh’s Newest Showplace To Open Today.  The Raleigh Marriott City Center will have its grand opening at 4:30 this afternoon.  The developer is the Noble Investment Group of Atlanta.  The location of the 400 room $75 million hotel is 500 Fayetteville Street.  Its key function is that of providing support for the Raleigh Convention Center which will open next week.  Gala goodies for the those attending the opening will include food, beverages, the Carolina Ballet and the North Carolina Symphony.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised) 

Cary, North Carolina.  Horton’s Creek is just what you are looking for.  This statement assumes you are interested in finding a home in a great Cary location that has quality homes.  Since most things start with price - let’s start with price.  Homes in Horton’s Creek range from the high $400s to the $700s.  Location-wise, if you want a home that is close to RTP, I-540 and RDU International Airport this subdivision is certainly your cup of tea.  Two years of planning an preparation went into the design of Horton’s Creek.  When completed the community will consist of 90 single-family homes.  And yes, in the heart of the area is a pool and bath house.  Floor plan choices?  You can choose from six four-bedroom plans each having four separate exterior elevations.  It is always interesting to note the features of a home.  The sales package for the area provides a rather exhaustive list of the features offered.  There isn’t time or space enough to provide a reprint of it.  I could choose from Outside Features, Inside Features, Kitchen Appointments, Laundry Room Appointments, Master Bedroom,Bath Appointments, Secondary Bath Room Appointments, Energy and Conservation Appointments and Structural Options.  Since I am going to pick only one I think you might find their impressive list of Interior Features to be of the most interest so here goes: * 9′ smooth ceilings throughout the first and second floors  * Dramatic foyers with hardwood floors and crown molding  * Two story family rooms.  * Elegant formal dining rooms with hardwood floors, crown molding, chair rail with backer and picture frame molding below chair rail  * Game rooms  * Walk up attics, per plan for easy access to storage or future living space  * Your choice of selected designer color paint  * Site finished hardwood floors: foyer, dining room, family room, den/study, powder room, kitchen, breakfast, pantries and mud rooms, your choice of selected stains  * Ceramic tile flooring in all baths and laundry rooms  * Shaw carpet in a broad array of colors to expressly meet your designer needs  * 6lb rebond carpet pad  * Heat & Glo direct vent gas log fireplace with ceramic tile hearth, surround and a classic painted site built mantle  * Handsome foyer staircases with solid oak treads, hand railings and painted ballisters  * Two piece crown molding: foyer, dining room, family room, den/study, powder room, kitchen, breakfast, master bedroom and upper hallways  * Classic four panel smooth finished interior doors throughout  * Schlage door hardware  * Site finished closets with wooden shelves throughout  * Kichler interior lighting package with optional upgrades  * Five combination phone and cable outlets  * Two phone/data outlets: Kitchen and master bedroom  * Ceiling fan pre-wires: family room, covered back porch, master bedroom and game room, per plan  * Smoke detectors   * Security system pre-wire with home automation prep package  * structured wiring system.

An example of what is currently available is the home at 307 Village Orchard Road.  It is a 5 bedroom 4 1/2 bath home by Baker Residential.  It is 3715 square feet and features a first floor owners suite with sitting area, walk-in closet and luxurious bath.  The kitchen is adjacent to a keeping room that has a cozy second fireplace and there is a screened porch.  The family room is 18.8 x 16.10, the kitchen is 16.6 x 14, the master bedroom is 18.8 x 13.4, the media room is 18.8 x 17, bonus room is 16.8 x 15.4 and the keeping room is 12.8 x 11.  The exterior is fiber cement, ShakeStone.  The home is heated by natural gas and there is city water and sewer.  The list price on this home is $524,900. 

For more information on this home or Horton’s Creek call me or send me an email at the number and address given below.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com  Website: www.JohnFish.com (currently being revised)

Cary, North Carolina.  Anyone who knows anything about video games knows who Epic Games is.  As the developer of “Unreal Tournament 3″ and “Gears of War” (to name but two of their efforts) they are a powerhouse in the video game industry.  Gears of War” has sold more than 5 million copies worldwide.  Epic’s new version”Gears of War 2″ is due for release on November 7 and a movie version will be produced as well.  Now, Epic will team up with Electronic Arts of California to sell a new game Epic’s studio in Poland is developing.  The Polish studio is called - People Can Fly.  EA sells video games and should increase Epic’s sales even more.

Three Contenders For 41 New Wake County Hospital Beds.  Novant Health of Winston-Salem wants to build a $110 million 47 bed  community hospital in Holly Springs.  Rex Healthcare wants to add 26 beds to its women’s center and add 15 beds in surgical units.  The price tag for these additions would be $20.4 million.  Wake Med proposes a 61 bed women’s hospital on its North Raleigh campus.  It would cost $34 million.  A decision as to who draws the long straw is expected from state regulators in January.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised)

Rolesville Mayor Seeks Commecial Growth.  Commercial growth means a larger tax base.  That fact is not lost on the Mayor of Rolesville and he wants to do something about it.  Rolesville has been the fastest growing town in North Carolina for the last two years.  Permits for single family homes attest to that fact.  There have been nearly 1,000 of them since 2002.  At the same time there have been only 33 commercial permits issued.  Last year 530 new arrivals called Rolesville home.  That’s a 29 percent increase.  The Mayor would like a 75 percent residential and 25 percent commercial mix.  The U.S. 401 bypass around the southeast side of Rolesville is slated to open in 2013.  That six mile stretch should provide enough commercial sites to provide the town (and the Mayor) with the desire mix.  However, the powers that be will need to try to balance the desire for commerical locations with the need to protect the watershed of the planned Little River Reservoir.  Fun and games a city hall.

You can’t talk about Rolesville without talking about the new Rolesville high school: where it will be, when it will be, and how much will it cost?  Wake school leaders say the school is going to take longer to build and cost more because the county commissioners rejected the site northeast of Raleigh that everyone seemed to think had been chiseled in stone.  If an alternative site isn’t found and agreed to by October the school would be delayed a year and not open until the 2012-2013 school year.  Currently, half of Rolesville’s high school students are going to Wake Forest-Rolesville High and the other half to Knightdale High.  Local residents don’t like that and neither do the residents in the other two areas.  With regard to this issue, the closer it gets to a solution the farther away the end result seems to get.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com

Fuquay-Varina, North Carolina.  For those of you who don’t know, Fuquay-Varina is one of the many “exploding” growth areas of Wake County in North Carolina.  It is located in southern Wake county.  Historically, Fuquay Springs got its name from the mineral water springs that were discovered on property owned by Stephen Fuquay in the mid-1800s.  Visitors who came to “partake of the waters” created a lively tourism business for the area from that time until the early 20th century.  In 1880 a post office was opened nearby and the postmaster named that town for his wife, Varina.  Both towns eventually merged and became Fuquay-Varina.  As the town is only 15 miles from downtown Raleigh and as it is close to substantial growth areas in every direction, it is a convenient place to live as well as a quiet and relaxed one.  

The South Lakes community is Fuquay’s first master planned community and is being developed by Impact Properties.  Impact has also developed the award winning communities of Weycroft, Madison Place at Carpenter Village, Phase II of Pemberley, Greythorne, Wyman Park, Highcroft and Cameron Pond.  South Lakes is a beautiful area of more than 500 acres that contains some 120 acres of open spaces and greenways plus 5 stocked lakes.  The lakes are anywhere from 4 to 30 acres in size.  It will feature two recreation complexes that will each have its own pool, playground and shopping.  Eventually the community will also have an elementary school, offices and a church. 

South Lakes opened in September of 2007 and currently has some 270 homesites with homes ranging in price from the $180,000s to the $500,000s.  Homeowner’s dues are $40 per month.  The custom builders are Biltimore Homes, Impact Design-Build and Preservation Homes.  The Julian Collection by Preservation Homes has 13 homes that are finished or to be completed by October.  They are both ranch and 2-story.  Sizes range from 1702 to 2604 square feet.  Most are 3 bedroom 2.5 bath homes and range in price from $249,900 to $379,900.  The current Lanier Collection by Impact Design-Build consists of 5 ranch homes of 2036 to 2202 square feet.  Three are now available and two others are to be finished in September and October.  They are 3 bedroom 3 bath homes and range in price from $294,012 to $313,892.   The Vanderbilt Collection by Biltmore Homes currently consists of 5 homes.  Four are 2-story and 1 is a ranch style.  Their sizes range from 1982 square feet to 2511 square feet.  Three are 3 bedroom 2.5 baths, one is 4 bedrooms 2.5 baths and one is 4 bedrooms with 3 bathrooms.  The price range of this group is $269,800 to $357,800.

If you would like more information about South Lakes or if you would like a tour of the area send me an email or call me at the numbers given below.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised)

North Raleigh, North Carolina.  If you are looking for something to do on a Sunday afternoon, if you would like to look at a few homes wthout having to drive all over creation to do it AND if the price range of $824,900 to $1,099,500 gets your attention I would recommend you motor up to The Gates At Ethans Glen.  They have an inventory of 15 homes to choose from that are in various stages of construction.  The subdivision has a great roll to it and plenty of trees so you won’t be looking at a lot of homes on a lot of lots that are bare as a baby’s backside.  Also, if you have been in the Raleigh for more than five years and if you have done your annual duty of looking at a truck load of homes during the Parade of Homes you will recognize that the subdivision’s homes are being built by some of the Triangle’s finest builders. They include Benchmark Homes (Paul Roseman), Collins & Collins, Ted Keith, Steve Gray, Cooper & Rock & J. David Payne.  I apologize to those who were left out. 

To single out any one home as the best is nonsense.  I will, however, suggest that one you might want to pay particular attention to, if you like homes with basements, is the home Ted Keith is building at 12241 The Gates Drive.  The home has 4075 finished square feet and has 4 bedrooms and 4 1/2 baths.  The exterior is a combination of brick, stone and fibre cement.  It has a first floor master and a first floor guest suite.  The family room is 19 x 20 and the second floor bonus room is 21 x 23.  It has a living room, dining room, a 14 x 16 kitchen with granite counter tops, dishwasher, down cook top, gas range, microwave, self cleaning oven and a 14 x 14 breakfast area. The utility room is on the main floor.  Features include ceiling fans, security system, smoke alarm, whirlpool, bookshelves, prewired for central vac, attic floored, sprinkler system, landscaped and all on a 1.10 acre lot with trees.  There is also a 3 car garage, screened porch and full, unfinished basement of 1,518 square feet.  If that isn’t enough the home has just been REDUCED $50,000!  Did I tell you everything?  Nope!  Go see for yourselves.  Oh yes, you might want to know how to get there.  Take Creedmoor Road north to Rt. 98 and turn right.  Turn right on Peed Road which is only about two blocks away.  Turn right on Tacketts Pond Dr. and left on the Gates Drive.  If you would like more information on the area and any of the homes in it let me know and I will provide it.  It would also be my pleasure to show you through any and all of the homes you would like to see.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised)

North Carolina State University Centennial Campus Bulging At The Seams.  Only 1 percent of its 2.4 million square feet of office and lab space is empty.  Because of the high demand for space in Campus buildings and despite the condition of the economy Craig Davis Properties is planning to build a 125,000 square foot office building on it.  Undertaking a $28 million building without any tenant commitments, slowing job growth and banks who don’t want to lend (or can’t), cause many to think Davis is flying in the face of reality.  On the other hand there is the lack of space where the demand is high and the fact that Campus is surrounded by two other tight office market areas; downtown Raleigh and West Raleigh.  Also, there is time for Davis to line up both the necessary financing and potential tenants since getting approval from city planning for the project will take about a year.  The plan also calls for a 5,000 square foot building and a 400 car parking deck.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised)

NORTH CAROLINA MORTGAGE CLOSING COSTS LOWEST IN NATION.   Bankrate.com says North Carolina has the lowest mortgage closing costs in the nation.  Closing costs average $2,650 and that includes title insurance, legal fees and various taxes.  Their survey was based on a $200,000, 30-year, fixed rate mortgage for a person putting 20 percent down and with good credit.  Included were title and settlement fees and lenders origination fees but did not include insurance, taxes, or such prepaid items as prorated interest or homeowner association fees.  At the other end of stick were Texas, Florida and New York.  New York City leads the most expensive parade with an average closing cost of $4,016. The national average is $3,118 which is up 14 percent vs. a year ago. 

WAKE COUNTY REAPS TOURISM BOUNTY.   During 2007 Wake County was the second leading tourist draw in North Carolina.  Income from visitors to the county totaled almost $1.5 billion.  This represented an increase of 10.7 percent vs. 2006.  The main attractions that drew people to the county were its museums.  Visitors to the Museum of Natural Sciences increased 7 percent.  The numbers drawn to the Museum of Art were down slightly but remained strong none-the-less.  Other major draws included the State Fair, sporting events and Artsplosure.  Gas prices and the downturn in the economy are causing people to look for things to do that are closer to home and that is of benefit to many of the areas attractions.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised)

Triangle, North Carolina.  KB HOMES THE TOP DOLLAR TRIANGLE RESIDENTIAL BUILDER IN 2007.  KB’s dollar volume was $263,511,188.  The company that was number 20 in terms of dollar volume done was Comstock Homes of Raleigh.  They did $31,644,404 in volume.  Unfortunately, Wachovia and BB&T banks have filed default notices in the total amount of $60 million against them.  Furthermore, Comstock has stated that they will stop making interest and some principal payments on $99 million in bank loans.  The company builds in Raleigh, Atlanta and Washington, D.C.   Their Triangle developments are single-family homes at Wheatleigh at the Preserve, Riverbrooke II, and Providence.  They have villas under construction in Allyn’s Landing and courtyard homes in Wakefield Plantation.  They are also building single family homes at Brookfield Station in Knightdale and Holland Farm in Apex as well as condos in Haddon Hall in Apex.

TRIANGLE ZIP CODES - STATISTICS:   Zip Code: 27513   City: Cary   County: Wake   Population: 42,255   Total Households: 16,071   Ave. Household Size: 2.62   Median Home Value (2006): $225,158   Median Home Value (2008): $262,060   Total Housing Units: 17,395   Median Household Income: $93,475      Zip Code: 27605  City: Raleigh   County: Wake   Population: 4,044   Total Households: 2,399   Ave. Household Size: 1.6   Median Home Value (2006): $232,813   Median Home Value (2008): $261,667   Total Housing Units: 2,601   Median Household Income: $56,388

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com (currently being revised)

Triangle, North Carolina.  TRIANGLE OFFICE SPACE MARKET POSITIVE DESPITE INCREASING VACANCY RATE.  One year ago the Triangle office vacancy rate was at a six year low rate of 12.1 percent.  Today it is at a two year high of 13.2 percent.  During the second quarter of this year 688,000 square feet of new space came on the market and another 1.5 millions will be added by the end of the year.  None-the-less, rents are increasing.  During the second quarter they increased 3.6 percent.  That represents Class-A space at an average of $21.44 per square foot.  Nationally gas prices, rising unemployment and the credit crunch are major causes for concern.  Even so, companies in the Triangle are adding people and the future need for space would seem to warrant the additional space and the prices being asked for it.

SAS BUYS SOFTWARE COMPANY.   Cary’s SAS, the nation’s largest private software company, has purchased IDeaS Revenue Optimization of Minneapolis.  The Minnesota company helps hospitality companies to increase their revenues.  Their customers include such hotel giants as Hyatt International, Mandarin Oriental, Intercontinental Group and Hilton.  IDeaS will operate as a SAS subsidiary and with its own management team.

MORE TRIANGLE ZIP CODE ANALYSIS:   Zip Code: 27612   City: Raleigh   County: Wake   Population: 34,465   Total Households: 15,901   Ave. Household Size: 2.15   Median Home Value (2006) $240,604   Median Home Value (2008) $280,542   Total Housing Units: 17,118  Median Household Income: $73,231       Zip Code: 27613   City: Raleigh   County: Wake   Total Population: 43,654   Total Households: 17,839   Ave. Household Size: 2.45   Median Home Value (2006) $225,158   Median Home Value (2008) $262,060   Total Housing Units: 19,280   Median Household Income: $88,891.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com  (currently being revised)