Premiere Raleigh Moving Company – 919-875-1700

According to the Raleigh Research Triangle Multiple Listing Service (MLS), the housing market in June 2012 across the 16 counties of the greater Triangle area has been strengthening. For the first six months of 2012, stats show that there are significant strides toward real estate recovery underway.

Inventory levels have shrunk–as much as 27 percent in June 2012 from June 2011. In addition, the Housing Affordability Index at 186 is 4 percent higher than 2011 figures. New listings were slightly up–by a fraction, 0.3 percent.

The Raleigh movers are optimistic that the second half of 2012 will continue to bring positive news to the local real estate market, in the Triangle and beyond.

A new luxury development is coming to downtown Raleigh, with construction set to begin as early as this fall. The project is manned by a developer out of Atlanta, and is set to be a 23-story luxury apartment consisting of 320 units. The location is planned to be on the southwestern corner of Martin and Blount Streets.

At a pricetag of $60 million, the project will be a planned luxury community targeting young professionals who want an in-town residence where they can easily walk to downtown’s bustling scene filled with shops, restaurants, and bars. The SkyHouse Raleigh will be similar to an Atlanta development, also 23 stories and 320 units, called SkyHouse Midtown. The Raleigh movers are excited at the new developments coming to the area and also the boost in construction jobs that this complex will bring to local crews.

A Wood County appraiser is facing up to 30 years in federal prison following a guilty verdict in the Eastern District of North Carolina U.S. District Court. His charges derive from making false statements to influence a federally insured financial institution as well as aiding and abetting. He will be sentenced in September.

His fraudulent company, JTW Investors, promised investors that he and a company AP, LLC would utilize investment money to purchase homes at a low price, renovate them, and then sell them to first time buyers for a marked up fee. False appraisal reports were created and the plaintiff, Larry Max McDaniel, was listed as the appraiser for all of them.

The Raleigh movers have learned that he faces up to 30 years in prison followed by up to five years parole and up to $250,000 in fines.

This week, a commercial real estate company announced that a primary and urgent care facility is coming to Southeast Raleigh–important news since the historic hospital that serviced the area about 50 years ago has stood closed and seemed to be the shell of a hospital, as over time it became roofless and windowless since it closed in 1961.

The goal of the development is to provide health care options for the local residents and also to create jobs for medical professionals in the area. The Raleigh movers are thrilled to see developers create additional jobs and also to boost the construction division of Raleigh and utilize local builders and movers to create a place that services Raleigh residents.

Throughout the country, home sales were higher in May than in April, and also higher than they were in the previous year. The Raleigh movers have learned that 48 out of 53 metro areas have reported year-over-year increases in real estate sales. Raleigh is listed in the top 7 metro areas to have the highest year-over-year increases.

Hopefully the market continues to draw strength and the current numbers show a continual rise in real estate productivity. We will keep you posted as June figures come out in the next week or so.

Blue Heron Capital LLC, which is based out of Charlotte, N.C., has acquired a Raleigh apartment complex in a recent transaction that totaled just under $13.9 million. Blue Heron partner John Trotter has added the Raleigh location to Blue Heron’s portfolio that spans North & South Carolina, Virginia and Georgia. The Raleigh movers are thrilled that the company has expressed faith in the Triangle area and sees our city as an investment location.

Pine Winds Apartments, which are the complex the purchase transferred, is a 216-unit multifamily community in Raleigh.

Raleigh foodies, listen up! A few new restaurants are coming to the area. One opened a few days ago in the downtown area–Oro Restaurant & Lounge. It’s been on the table as a potential project for over a year, and it finally opened its doors to curious customers on May 20th. Located in the PNC Bank tower, the restaurant offers a seasonal fusion menu from global cuisines, a majority of which is priced under $15. It has taken over the old location for The Mint.

Over in Wake Forest, former steakhouse Texas Steakhouse & Saloon is closing and re-emerging as a Buffalo Brothers location. With one of the backers residing in Raleigh, the Raleigh movers think it won’t be long before another location crops up closer to our side of town.

The employment market in the state of North Carolina has had a difficult time in recent months, along with most of the country. However, data collected from April of this year shoes that the unemployment rate fell over 9 percent in April, bringing unemployment rates to the lowest they have been in over three years.

While this seems like a move in the right direction for the local job market, there is a conflicting statistic that is some cause for concern. While the unemployment rate is down, it’s notable that Raleigh is steadily losing 1,300 jobs monthly. While there were about 28,000 jobs added, it’s a scary scenario that the elimination of jobs could put us back to square one. The Raleigh movers will keep you updated and report trends as they break.

According to the Triangle Multiple Listing Service (TMLS), sales are up in Raleigh when it comes to residential real estate. In addition, inventory levels shrunk in the Raleigh area by 27.3 percent, while new listings got a little nudge by 1.3 percent.

The Raleigh movers are excited to see if the real estate industry continues to flourish in our city and beyond. In conjunction with these trends, the Housing Affordability Indiex was almost 7 percent higher than in April 2011. In terms of positive trends, the real estate market is a strong variable of how the local economy is doing as a whole. Job growth and unemployment trends strongly correlate to the real estate industry, so if the real estate market is staying on track then that’s a good sign for other areas.

While some parts of the country are subject to decreasing numbers of foreclosures, Raleigh is a city that has had the opposite luck. The Raleigh movers have learned that Raleigh is among five U.S. markets with the highest amount of foreclosures in the pipe. Other areas that are struggling include Pittsburgh, Philadelphia, Virginia Beach, and Indianapolis.

The residential division of real estate has been hit the hardest with foreclosures, and that combined with the decreasing value of homes is a dangerous mix for the real estate sector in the Research Triangle area. While some areas actually saw foreclosure decline—such as Portland, Las Vegas and Salt Lake City, Raleigh is certainly on a troubling side of the foreclosure statistics.