Forbes Ranks Raleigh Number 4 In Nation For Technology Jobs

Forbes magazine has named Raleigh number four on its 2011 list of the top cities for technology jobs.

The Forbes article states that technology jobs have outpaced the overall rate of new employment by four times.  Number one on the list is Seattle, followed by Baltimore, Columbus, Ohio, and Raleigh.  Salt Lake City, Utah, rounds out the top five.

Seattle is home to Microsoft, Amazon.com, and Boeing, and, according to the article, “has enjoyed the steadiest and most sustained tech growth over the past decade.”

Forbes used the latest high-tech employment data collected by EMSI, an economic modeling firm, for creating the list.  An outside analysis group then charted cities that have gained the most manufacturing, software and services jobs over the past 10 years.  They allowed for factors such as concentration of tech employment and used the definition of high tech industries from TechAmerica, a large technology trade association.

Raleigh was one of only 11 of the cities Forbes analyzed which had overall tech growth in the last decade.  The article says cities like Raleigh, Seattle, Salt Lake City, and Columbus which have major research universities have somewhat of an edge, but “it’s one thing to produce scientists and engineers; it’s another to generate employment for them over the long term.”  San Jose and San Francisco are cited as areas with large academic centers but weak tech job growth.

While Raleigh had job growth of 2.8 percent over the past decade and 6 percent over the past two years, other southern tech hubs such as Houston, Dallas and Austin lost between 6 and 25 percent of their technology jobs over the past 10 years.  Detroit and New Orleans are seen as possible up-and-coming tech regions.

~ Raleigh Ranks #4 In USA For Technology Jobs

 

 

Scotty McCreery - Garner's American Idol 2011 - I Love You This Big

Garner NC's Scotty McCreery, American Idol Winner 2011, continues his dream today as CMT premieres his new video "I Love You This Big".  Scotty McCreery sang the song during the American Idol finale this past season.  Congrats to Scotty and his family, we are very proud of you. 

Source: Scotty McCreery - I Love You This Big - Garner's Idol Winner

 

This Is Your LIFE - Do What You LOVE

Source: This Is Your LIFE

North Carolina Mortgage Closing Costs - 2nd Lowest In U.S.

North Carolina is the second cheapest state for mortgage closing costs even though they are going up nationwide, according to a new survey from Bankrate Inc.

The Bankrate 2011 Closing Costs Survey shows that nationwide the average origination and title fees on a $200,000 mortgage are up 8.8 percent from a year ago for a total of $4,070.

In North Carolina, the total cost is $3,410, which includes $1,839 in title and closing costs, as well as $1,571 in origination fees. Origination fees include lender charges for services such as underwriting and processing. Only Arkansas, at $3,378, had a cheaper total.

New York is the most expensive state with total fees of $6,183, followed by Texas ($4,944) and Utah ($4,906).

Check out the Bankrate 2011 Closing Costs Survey here.

Source: North Carolina Mortgage Closing Costs - Lowest in USA

Forbes : Raleigh NC Top U.S. City For Young Professionals

Raleigh Ranked No. 2 USA City For Young Professionals

Forbes loves Raleigh, really!  Following a No. 1 ranking among the 50 Best Places for Business and Careers, and a No. 2 ranking on its list of the Next Big Boom Towns in the U.S., the magazine ranked the Raleigh region as No. 2 on it’s list of America’s Best Cities For Young Professionals.

Forbes wrote, “With an abundance of colleges and universities in the area such as University of North Carolina and Duke University, and Research Triangle, a major center for high-tech and biotech research, more than 42% of the local population touts BA degrees, making it the most educated of the cities we looked at.”

To determine the best cities for young professionals, which they define as adults aged from 24 to 34 who hold a Bachelor’s degree or higher, Forbes started with the 100 largest U.S. Metropolitan Statistical Areas (cities and the suburbs surrounding them) as defined by the U.S. Office of Management and Budget.

Forbes assessed these cities based on seven factors, weighting them evenly:

1. Local unemployment rates
2. 2010 to 2012 job growth projections
3. Census Bureau data on the number of small businesses (defined as less than 500 employees) per capita
4. The number of large businesses
5. The median salaries for 24- to 34-year-old employed college graduates
6. Moody’s cost-of living index, to gauge how far those paychecks will go
7. The percentage of the population aged 25 and older with college degrees in the area

The college town turned boom town is garnering a lot of love, just another reason why we “love” calling Raleigh NC home!

Source: Raleigh Is Tops For Young Professionals

Raleigh NC Ranked #2 Next Big Boom Town

Raleigh NC Ranked No. 2 "Big Boom" Town In Next Decade According To Forbes

Raleigh NC has experienced the 2nd-highest overall population increase and the 3rd-highest job growth over the past two decades in the United States. It also ranked among those regions seeing the biggest jump in new immigrants and is the No. 1 city for families with young children. The area is a magnet for technology companies fleeing the more expensive, congested and highly regulated northeast corridor. Affordable housing & short commute times are no doubt highly attractive to recent college graduates and millennials looking to start families.

To determine the next boom towns in the U.S., Forbes took the 52 largest metro areas in the country (those with populations exceeding 1 million) and ranked them based on various data indicating past, present & future vitality.

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They started with job growth, not only looking at performance over the past decade but also focusing on growth in the past two years, to account for the possible long-term effects of the Great Recession. That accounted for roughly one-third of the score.

The other two-thirds were made up of a a broad range of demographic factors, all weighted equally. These included rates of family formation (percentage growth in children 5-17), growth in educated migration, population growth and, finally, a broad measurement of attractiveness to immigrants -- as places to settle, make money and start businesses.

Source: The Next Big Boom Towns in USA : Raleigh NC

   

Raleigh : Forbes Magazine's #1 Place For Business And Careers

Raleigh Is America’s #1 Place To Do Business

Raleigh once again topped Forbes Magazine’s 13th annual list of The Best Places for Business and Careers.  Raleigh, N.C. is noted as one of those locales with a strong university presence helping fuel growth in the area. Raleigh and nearby Durham (ranked No. 31) get a strong boost from three elite schools in the surrounding area in University of North Carolina, Duke University & North Carolina State.

“Low business costs (18 percent below the national average) and a smart labor force (42 percent have a college degree) make Raleigh, North Carolina’s Capital City, an attractive spot for employers like Progress Energy,” the magazine wrote. “Job seekers get it: The net migration rate to Raleigh was the 2nd highest in the U.S. over the past five years.”

Forbes Magazine’s ranking of Best Places looks at the 200 largest metropolitan statistical areas in the U.S. These range in size from the New York City metro, with to 11.6 million people, to Laredo, Texas, home to 252,000 people. They consider 12 metrics relating to job growth (past and projected), costs (business and living), income growth, educational attainment and projected economic growth.

Forbes also factors in quality of life issues like crime rates, cultural and recreational opportunities and net migration patterns. Lastly they included the number of highly ranked colleges in an area per their annual college rankings.

Slideshow: Raleigh Ranks #1 Place For Business and Careers

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Raleigh-Cary, NC : #2 Metro Market For New-Home Sales Share

Raleigh-Cary, NC #2 Real Estate Market : New Home Sales Share

Top 10 Markets for New-Home Sales Share (2010)
Metropolitan Statistical Area	New-home Sales	Total Sales Total	New-home Sale Share
El Paso, Texas	2,425	9,701	25.0%
Raleigh-Cary, N.C.	3,580	16,975	21.1%
San Antonio-New Braunfels, Texas	6,891	35,407	19.5%
Charlotte-Gastonia-Rock Hill, N.C.-S.C.	3,860	20,512	18.8%
Austin-Round Rock-San Marcos, Texas	5,831	32,088	18.2%
Jacksonville, Fla.	3,909	22,749	17.2%
Des Moines-West Des Moines, Iowa	1,446	9,154	15.8%
Charleston-North Charleston-Summerville, S.C.	1,464	9,622	15.2%
Oklahoma City, Okla.	3,019	21,017	14.4%
Nashville-Davidson-Murfreesboro-Franklin, Tenn.	3,380	25,342	13.3%

Note: 9 out of the Top 10 Markets Are In The South

Methodology: CoreLogic sorted the markets with the highest share of new-home sales. The analysis was performed on 2010 annual data for the top 100 markets with the most sales. It's very well-known that there are a lot of distressed markets and which markets they are. There is much less information on which markets are doing well. But instead of choosing performance, CoreLogic chose new-home sales, because if a market is near the top for new sales share then it's most likely doing relatively well.

Source: Raleigh-Cary, NC #2 Market For New-Home Sales Share

Keith Urban Rocks RBC Center - "Get Closer World Tour 2011"

Keith Urban “Gets Closer” in Raleigh NC

Keith Urban brought his “Get Closer World Tour” to Raleigh Saturday night, putting on an incredible performance.

The 43-year-old country star interspersed his many chart-topping country hits with a few new cuts, as usual. He waded through an ecstatic crowd to a tiny stage about 20 rows back and shouted “Who’s got the good seats now?”

Keith Urban fans got what they came for: an energetic, 2-hour-and-15-minute set filled with Urban trademarks including rapturous sing-a-longs, fun-loving real-time crowd shots, and soaring guitar solos that would impress Eddie Van Halen and Eric Clapton.Put it this way, when Urban emerged at around 8:45, virtually everyone stood up, and then didn’t sit down again until they climbed into their cars to go home.

Raleigh Real Estate Market : 14th Highest Performing Major Housing Market

Raleigh Real Estate Market Reveals Signs of Market Stability

The Raleigh Real Estate Market offered signs of improvement with home prices in the last quarter as the industry demonstrates more signs of stabilizing, according to Clear Capital's latest monthly Home Data Index Market Report.

U.S. quarterly prices drop another 2.3%; but uptick in distressed sale prices, combined with the upcoming summer buying season, could stabilize home prices. “The latest market report results through May suggest that home prices are starting to ease back from the heavy declines seen over the winter,” says Alex Villacorta, director of research and analytics at Clear Capital. “We are still far away from the strong demand needed to fully turn things around for the housing market. However, it is clear from the initial spring sales data that prices are softening, suggesting stabilization in the market."

Source: Raleigh Real Estate : 14th Highest Performing Major Housing Market

 

Raleigh NC Outperforms : Top 15 Best Cities For Job Growth

Raliegh NC Is Top Destination For Employment Activity

The Greater Raleigh Chamber of Commerce has announced that Raleigh ranks 14th out of 65 large cities in Joel Kotkin’s list of 2011 Best Cities for Job Growth, finishing ahead of such cities as Boston, New York City, Philadelphia, Pittsburgh and Austin, Texas in quality of life. The survey found Raleigh outperformed all those cities in population growth and educational attainment, and all except Boston in median household-to-cost-of-living ratio, while having a better unemployment rate than Philadelphia and New York City. In his survey, Kotkin noted that most of the best performing big metros in job growth on the East Coast are located in financial and university centers, including Raleigh.

• From 2000 to 2010, Raleigh had a 46.3 percent increase in population, compared to Austin (20.4), Boston (4.8), New York City (2.1), Philadelphia (0.6), and Pittsburgh (-8.6). Fortune magazine named Raleigh-Cary the No. 1 Fastest Growing City in the South.
• Raleigh’s educational attainment is higher than its competitors – 47.8 percent of adults have a bachelor’s degree or higher, based on the 2009 Community Survey by the U.S. Census Bureau, compared to 44.7 percent in Boston, 43.9 in Austin, 34 in New York City, 32.6 in Pittsburgh and 23.2 in Philadelphia.
• The median household-to-cost-of-living ratio in Raleigh is $51,969 to 97 (out of the national average of 100), beaten only by Austin ($50,132 to 96.6). The others are Boston ($55,979 to 132.4), New York City ($50,033 to 182.5), Philadelphia ($37,045 to 124.8), and Pittsburgh ($37,461 to 91.6).
• Raleigh’s unemployment rate (7.7) hovers b etween that of the other cities: Philadelphia (8.5), New York City (8.4), Pittsburgh (7.4), Boston (7.1), and Austin (6.8).

  

Raleigh-Durham Real Estate

 

Real Estate Investors To Dominate Market The Next 2 Years

Real Estate Investors Expected To Dominate The Market

Real Estate Investors are expected to outnumber traditional home buyers three to one in the next two years, according to a national survey by Move Inc.

These investors also are ready to compete with traditional first-time home buyers to snag the best deals. About two-thirds of investors say they expect the problems that first-time buyers are having with financing and getting mortgages will work in their favor in competing for properties. One in five investors say they plan to purchase properties using cash-only and 80.5 percent expect cash discounts on properties from sellers.

Some additional findings from the Move Investor survey about this growing segment of home buyers are:

• 43.5 percent of investors expect it to get more difficult to find housing bargains in the coming months. Twenty-two percent expect prices to rise in the next six to 12 months, while 53 percent expect prices to stay relatively flat.
• Half of the real estate investors surveyed say they plan to hold their properties for five years or more. Only 11 percent expect to sell within 12 months of buying it.
• Nearly half of the investors surveyed expect a profit of 20 percent or more from their investment, 40 percent expect a profit of 10 percent, and 6.5 percent expect a 5 percent or less return on investment.
• Nearly half of investors say they plan to live in their investment property until it’s sold or turned into a rental property.
• About 56 percent of investors plan to turn their investments into rental properties. Also, the survey found that 28 percent plan to purchase a vacation property and 30 percent reported an interest in buying retirement property as an investment.
• Nearly 60 percent of investors say they’re new to real estate investing. About 33 percent are considering their first investment purchase and 8.5 percent are in the process of buying and selling their first investment property. Of those surveyed, only 36.5 percent had experience in more than one property transaction.

“This data suggests today’s climate is hot for investing and is attracting a lot of new people that don’t fit the stereotypical deal-driven flippers that buy and sell properties quickly,” says Steve Berkowitz, Move Inc. chief executive officer. “They’re mostly entrepreneurial individuals that will make vital contributions to local communities by investing their own money and sweat equity to improve and maintain properties. These personal sacrifices made over the long run will help improve housing stocks, home values, property tax bases, and thousands of local communities.”

Source: Real Estate Investors Outnumber Typical Homebuyers Three To One

Raleigh-Durham NC : Top U.S. Metro Area For IT Talent

The Raleigh-Durham metro area is one of the best environments in the nation for information technology companies to find and retain highly skilled workers, says a new report from KLG Advisors. According to KLG’s IT Market View report, Raleigh-Durham had the highest IT labor force concentration of any metro area in the United States.

KLG’s report spotlights U.S. metro areas that have the necessary ingredients to provide a skilled workforce for IT companies such as the current scale of IT talent pool, cost of IT talent, concentration of IT talent relative to the overall labor force, recent trends in IT talent pool growth and output of new IT talent from proximate colleges and universities.

While the North Carolina metro scored well in several categories, Raleigh-Durham scored “very strong” for having a high concentration of IT talent and for output of new IT talent from proximate colleges and universities.

In November, Newsweek magazine called North Carolina’s Raleigh-Durham a “New Silicon Valley,” and said the area is “where the brains are headed.”

Raleigh-Durham Real Estate

Best High Schools in America : Raleigh NC Area Shines

America's Best High Schools

Raleigh Area High Schools Shine!

Each year, NEWSWEEK picks the best high schools in the country based on how hard school staffs work to challenge students with advanced-placement college-level courses and tests. Just over 1.600 schools—only 6 percent of all the public schools in the U.S.—made the list, including several in the Raleigh/Triangle area.
Raleigh

• 42 Raleigh Charter
• 127 Enloe
• 300 Broughton
• 1136 Wakefield

Durham

• 251 Durham School of the Arts
• 415 Jordan
• 839 Riverside
• 1056 Northern

Morrisville

• 458 Green Hope

Chapel Hill

• 107 Woods Charter
• 118 East Chapel Hill
• 214 Chapel Hill

Pittsboro

• 1547 Northwood

America's Best High Schools Full List

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Foreclosures : Renters And Prospective Homebuyers Are Interested

Foreclosures - Buying At Discount

A recent new study on foreclosures conducted by Trulia and RealtyTrac found that 56 percent of U.S. renters and 47 percent of current homeowners are at least “somewhat likely” to purchase a foreclosed home.
Along with having some reluctance about hidden costs, a risky buying process, and still-declining home values, many potential buyers expect to save money if they buy a foreclosure. In fact, the companies’ survey found that on average, respondents expect to pay 38 percent less for a foreclosed home than a similar home that was not in foreclosure.
RealtyTrac says these expectations are pretty much the same as the average discount of 36 percent it’s currently seeing on sales of bank-owned REO homes.
According to Trulia’s latest data, it is more affordable to buy a home than to rent in 78 percent of major U.S. cities. With concerns of rising inflation and the potential for rising interest rates, they say now is a good time for people to buy as they may not be in this environment for much longer.

Lochmere Neighborhood - Cary, NC

Lochmere, Cary NC

Lochmere's prime location in east Cary makes the planned community one of Cary's most popular neighborhoods. With lots of open space, greenways, walking trails, lakes and more, this is a great place to call home for young and old alike.

Originally platted during the 1980's, the Lochmere community has the advantage of mature trees throughout, and residents work hard to preserve and maintain the value and the natural beauty of their development.

With a wide variety of homes, from townhomes to awesome lakefront homes, Lochmere is fortunate to benefit from the foresight of the community planners, who were careful to preserve the natural, open feel by including miles of walking paths, water features and parks for all residents to enjoy.

The Mooney-Jones Team/FM Realty is proud to market homes in the Lochmere neighborhood.

**Please click image or here for all properties currently available "For Sale".

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Josh Turner Surprises His "American Idol" Scotty McCreery

Josh Turner Shows Up At Scotty McCreery's "Idol" Homecoming

American Idol's Top #3 Finalist Scotty McCreery, Garner NC's hometown hero, came home this Saturday for the first time in four months.  Scotty McCreery Day was filled with appearances at his high school, the local radio station, and a parade in his honor.

But the biggest surprise was during a concert for his fans Saturday afternoon at Lake Benson Park.  While performing "Your Man", the American Idol finalist's signature song made famous by Josh Turner, Scotty and his fans were surprised when Josh Turner himself walked out on stage!

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Scotty McCreery and American Idol Are Coming Home

Scotty McCreery, Garner's American Idol Anticipates A Homecoming Party!

If you're a Scotty McCreery fan that likes to plan ahead -- and you're not the superstitious type -- you can go ahead and block off this coming Saturday afternoon, May 14th. You'll want to be in Garner for the big Scotty McCreery Homecoming Party.

Granted, the party isn't official yet. Scotty, the "American Idol" contestant from Garner, doesn't get a hometown party this weekend unless he makes it to the Final Three. And we won't know that until Thursday at about 8:55 p.m.

Still, town officials must go ahead and get ready for what will be a huge bash if Scotty makes the cut.  They are anticipating a possible crowd of 30,000.

Here are the details we can reveal this far:

• A homecoming parade and concert would be Saturday afternoon at the town’s Lake Benson Park, 921 Buffaloe Road.


• Attendees should plan to be at the park no later than noon. Pets, tents and coolers will not be allowed in the park.


• More details would be divulged at 9 p.m. Thursday on the Town of Garner website, www.garnernc.gov, as well as on Facebook and Twitter.


• You can also follow The News & Observer's Scotty McCreery Watch page at www.newsobserver.com/scottywatch .

Scotty and the other three finalists -- James Durbin, Haley Reinhart and Lauren Alaina -- will perform starting at 8 p.m. Wednesday on Fox. This week's theme is the songs of Jerry Leiber and Mike Stoller, whose hits include "Hound Dog," "Stand By Me," "Young Blood" and "There Goes My Baby." Though the songs will be old-fashioned, this week's mentor is decidedly modern, Lady Gaga. Should be an interesting mix.

The contestant with the fewest viewer votes will be eliminated Thursday night, and the other three will get hometown visits over the weekend.

Garner's Thursday night viewing party is back this week at Scotty's high school, Garner High, 2101 Spring Drive. The party runs from 7 to 9 p.m. The results show airs from 8 to 9.

Congratulations to Scotty and his mother Judy McCreery, a member of the FM Realty family.  We are very proud of you!

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Featured Homes-The Mooney-Jones Team-FM Realty

The Mooney-Jones Team "Featured Homes"

Check out our current featured homes available for immediate showings in the Raleigh area.  Contact Gail Mooney or Judy Jones at 919.443.5152 for more information.  You can also search for more homes in the Raleigh area here.

Lowe's Donates $750K To Red Cross For Tornado Victims

Lowe's Home Improvement will donate an additional $500,000 to the American Red Cross to aid victims of storms that recently swept across the Southeast.

The funds are in addition to the $250,000 Lowe’s gave the organization last month in honor of its employees at its damaged store in Sanford, which the company will tear down and rebuild, and to aid in disaster relief nationwide.

Lowe’s stores nationwide are accepting customer donations to the American Red Cross through May 22.  Lowe's donates to disaster relief company-wide and since partnering with the American Red Cross has contributed more than $21 million.

Cheers to Lowe's, support them with your patronage.

Read complete article here

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Cary NC Home-New Listing-100 Cutty Court

Cary NC Home | New Listing From "The Mooney-Jones Team"

Lochmere for under 300,000!! WITH updated kitchen including granite countertops,stainless app,hardwood floors on entire first floor, both formals,fenced backyard with privacy,huge master suite...located on cul-de-sac.  4 Bedrooms, 2.5 Baths, 2301 sq ft, we just listed this home and are ready for showings. Please contact us for showings.

Click Below for full information on this beautiful Cary NC Home:

100 Cutty Court, Cary NC Home, New Listing

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Kildaire Farms

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Cary Town Homes

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Renaissance Homes

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North Carolina Museum of Art

North Carolina Museum of Art - Things To Do In Raleigh

The North Carolina Museum of Art is home to one of the finest collections of art in the Southeast, an incredible collection that includes paintings and sculpture representing 5,000 years of artistic achievements from antiquity to the present. The Museum features more than 40 galleries as well as more than a dozen works of art in its beautiful 164-acre Museum Park. West Building, completed in April 2010 as part of a major expansion project, holds the Museum’s permanent collection, and East Building features special exhibitions.

This is a museum where you can find your own place—either in contemplative spaces or through lively, engaging tours, performing arts, or family workshops. The Museum invites you to create your own captivating experience each time you visit.

Hours

Tuesday–Thursday 10 am–5 pm
Friday 10 am–9 pm
Saturday–Sunday 10 am–5 pm

Closed Mondays

The Museum Park is open daily, including holidays, from dawn to dusk.

The Museum is closed on Thanksgiving, Christmas Eve, and Christmas Day.

Admission

Admission to the Museum’s permanent collection and Museum Park is free. There is a charge for some special exhibitions and programs, such as concerts, films, classes, and performances.

Location

2110 Blue Ridge Road
Raleigh, North Carolina 27607-6494
Map/Directions to North Carolina Museum of Art

Courtesy of Raleigh-Durham Real Estate and The Mooney-Jones Team
Contact Us: 919.443.5152

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Raleigh-Durham Real Estate Market Bucks The Trend-Lifted By Tech, Education & A New Generation

In dark contrast to many other areas of the country, the Raleigh-Cary metro area's median home price has not changed drastically in the past few years. In 2010, the area's median sales price for existing homes was $217,600, according to the National Association of Realtors, 2.6 percent below the median in 2008.

During that same period, the median sales price in the South overall fell 9.3 percent while the median for the U.S. as a whole fell 11.9 percent. More recently, the median sales price was down 0.5 percent year-over-year in the first quarter in Wake County, where Raleigh and its surrounding areas are located.

Raleigh did not completely escape the downturn, however. Home sales in Wake County started to drop in the fourth quarter of 2007. In 2008, sales plunged 30.5 percent compared to 2007. In 2009, that rate of decline slowed -- closed sales fell 13.4 percent compared to 2008. By 2010, sales were down 8.3 percent compared to the year before.

In first-quarter 2011, closed sales decreased 10.6 percent year-over-year. The estimated supply of homes for sale was 9.6 months in March, up slightly on a year-over-year basis. A supply of six months is considered to be a rough equilibrium between a buyer's market and a seller's market, with a larger supply tilting toward a buyer's market.

Sellers in the Raleigh-Durham real estate market were among the most stubborn in the country in terms of pricing their homes, according to a report by Trulia. The site found that the market's sellers waited an average 71 days before making a first-price reduction -- seventh longest among the 50 largest cities nationwide.

According to the Bureau of Labor Statistics, the non-seasonally adjusted unemployment rate for the Raleigh-Cary metro area in February was 8 percent, compared to 8.9 percent nationally.

New Home Sales Jump 11% In March - New Homes Inventory Lowest Since 1967

New Home Sales Jump 11%

According to the Census Bureau, a new home sales jump in March greatly beat market analyst expectations by rising 11.1% from the previous month. But even better news was the new homes inventory: the lowest since 1967.

Analysts expected existing home sales to post a 3.7% gain.

These results from the Census survey equate to nearly 300,000 new home sales annualized, still down 84,000 from last year.

New sales of single-family homes fell nearly 17% in February from a month earlier, coming in well below analysts' estimates and at the lowest level ever recorded.

The U.S. Commerce Department said the seasonally adjusted rate of 250,000 units last month was considerably lower than 301,000 for January, which was revised upward by 15,000 units. February sales are down 28% from a year earlier.

The seasonally adjusted estimate of new homes for sale was 186,000 in February, representing an 8.9 month supply. A normal healthy market usually holds a six month supply.

New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates current housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances.

It is hopeful that the increase in new home sales in March marks the end of the downward trend that had taken sales to a record low. But with existing homes being sold at much more competitive prices, the demand for newly built properties will recover only very gradually.

New Home Sales Jump

Raleigh-Durham Real Estate

The Mooney-Jones Team 919.443.5152

The Raleigh Easter Egg Hunt has been moved from Moore Square Park to Halifax Mall

The Raleigh Easter Egg Hunt has been moved from Moore Square Park to Halifax Mall

Raleigh's biggest and best Easter Egg Hunt will take place at Halifax Mall on Saturday, April 23, 2011. This is a FREE event, with more than 30,000 eggs for kids to find, as well as live music, balloons, inflatables and more.

In previous years, Raleigh Easter festivities attracted overflow crowds to Moore Square. Due to damage that Moore Square sustained during the tornado last weekend this year's festivities have been moved to Halifax Mall.

There will be four different egg hunts, each divided into zones by age group, as well as separate zones for children with special needs. Hunts will take place at 11 a.m., 11:30 a.m., 12:30 p.m. and 1 p.m., along with an Easter story reading at noon.

Parking is available near Halifax Mall. These parking decks and lots are convenient and within walking distance to Halifax Mall:

NC Museum/Government Center Parking

100 E. Jones Street

State Government Visitor Parking Lot #2

333 N Salisbury Street

Raleigh-Durham Real Estate
The Mooney-Jones Team / FM Realty / Cary, NC
919.443.5152

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Cary Bank-Owned-REO - Hot Deals - Raleigh-Durham Real Estate

Raleigh-Durham Real Estate, The Mooney-Jones Team, FM Realty, are pleased to offer these hot deals in Cary Bank-Owned-REO properties!

Mortgage Rates Head Lower | Freddie Mac Report | Raleigh-Durham Real Estate

Mortgage rates are heading lower. Long-term mortgages rates turned lower this week after rising for four consecutive weeks.

According to Freddie Mac's weekly rate report, a 30-year fixed-rate mortgage averaged 4.80 percent in the week ending April 21, down from 4.91 percent last week,  A 15-year fixed-rate loan averaged 4.02 percent, down from 4.13 percent.

Dropping from 3.25 percent last week, a one-year adjustable-rate mortgage is now averaging 3.16 percent.

Frank Nothaft, chief economist for Freddie Mac (OTC BB:FMCC) stated “Low inflation is keeping mortgage rates at bay, the 12-month growth rate in core prices was 1.2 percent, which is rather low by historical standards.”

Home sales in the four-county Raleigh-Durham Real Estate/Triangle region – Wake, Durham, Orange and Johnston counties – dropped 13.6 percent year over year in March, to $1,596. The median home sales price fell 1.1 percent, to $181,050, while the days on market until sale jumped 26 percent, to 131.

Click here to download the Triangle MLS report in PDF format.

Raleigh-Durham Real Estate

The Mooney-Jones Team / FM Realty
919.443.5152

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Fastest Growing Cities in the South - Raleigh-Cary, NC (#1) - FORTUNE

  Raleigh-Cary, NC #1 Fastest Growing City in the South

Total Population: 1,130,490
Change From 2000: 41.8%
Raleigh is one corner of the triangle region of North Carolina, a booming area that includes Durham and Chapel Hill and is home to the largest research park in the U.S. In 2010, the Milken Institute ranked Raleigh No. 7 in its list of best performing cities for creating and sustaining economic growth. This Silicon Valley of the East coast attracts flocks of IT-types for jobs at tech giants like Cisco and IBM.
The area also draws professionals in biotech and financial services, with Biogen Idec, Credit Suisse and Fidelity Investments among the area's top employers.

Fastest growing cities in the South - Raleigh-Cary, NC (1) – FORTUNE
Raleigh-Durham Real Estate
The Mooney-Jones Team / FM Realty
919.443.5152

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Never Mind the Silicon Valley: Here's Research Triangle

Research Triangle Park is one of the oldest and largest research parks in the United States. Created in the 1950s, the RTP development now spans over 7000 acres and is home to over 170 companies and some 42,000 full-time employees. But the concentration of tech research and development extends beyond the bounds of just the research park itself, and the surrounding Raleigh, Durham, Chapel Hill and Cary, North Carolina metro areas are commonly labeled together as the Research Triangle, or "The Triangle."

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Never Mind the Silicon Valley: Here's Research Triangle

Just another reason Raleigh, NC is the best place to live!

Raleigh-Durham Real Estate
The Mooney-Jones Team/ FM Realty
Contact: 919.443.5152

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