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SOLD! is sign of success

Posted July 5, 2010

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— In the new Tuscany subdivision in Johnston County, four homes recently sold on the same cul-de-sac.

There are pockets of success tucked across the Triangle, bucking the national trend of slow home sales.

For those in position to buy, the time is right. Interest rates are at a 60-year low, averaging about 4.5 percent on a 30-year, fixed-rate mortgage.

"I think we've made a good choice buying now," said Debra Hodges.

She and her family were unloading their belongings on Marsala Drive Monday. The relocated from a rental in north Raleigh.

"We're getting 1,000 more square feet for the same price," she said.

The builder of the subdivision, ForeverHome, started work in November. It has already sold 50 of the homes, which range in size from about 1,900 to 3,400 square feet and are priced between $150,000 and $250,000.

New neighborhoods, new homeowners show Triangle growth New neighborhoods, new homeowners show Triangle growth

Lance Lindow moved his family to Johnston County from Arkansas.

"It was close enough to Raleigh, but yet far enough that you still got that family feel, and it was just bang for the buck," he said.

Mark Ward, ForeverHome vice president of sales, said, "Location, price, value and quality win every time. People are going to buy homes. People have to have a great place to live."

Other new neighborhoods with home prices up to $800,000 are also selling. Johnston County issued 21 more new home permits in June than at the same time last year.

"We hear people talking doom and gloom every day about different parts of the country," Ward said. "Raleigh and the entire Triangle always seem to bear the storm a little bit better than others."

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  • Bendal1 Jul 6, 2010

    Housing builds in this area are NOT an indication that "the economy is turning around". The Triangle area has not experienced anything like the economic destruction that's happened in other parts of the country; we're still listed in the top 5 fastest growing regions nationwide.

    Let me know when Southern California starts growing again; maybe then the economy will be improving. We're a little positive economic island in the middle of a big hostile ocean, people.

  • Gatsby Jul 6, 2010

    Median price in N Raleigh $200+K
    Median salary in Raleigh $60K
    Result? Most homes cost more than people can afford to purchase and still live with-in their means. The price of homes & cars are out of step with the rest of the economy and housing will not rebound until prices drop another 25%-30% OR salary's increase significantly.
    Its common sense really...

  • amazedasIgaize Jul 5, 2010

    Smart buyers are taking advantage of historically low mortgage rates and all time record inventory levels in the Triangle.

  • abswitala Jul 5, 2010

    Lots of new homes being built in Wake Forest, which was not the case one year ago... I guess I see that as a sign that things are turning around.

  • mrual Jul 5, 2010

    we have been trying to sell here in rocky mount close too a year now no bids brought the price down .. real nice area benvenue country club right across the srteet no luck here

  • just brian Jul 5, 2010

    You may see less homes but there are more on the market now than a year ago. Over 19,300 according to MLS.
    Until we soak up some of the supply, there is not going to be much improvment overall.

  • Big Mike Jul 5, 2010

    My senior Mom sold her house in three days from the time the sign went up in the yard. It's in a very nice neighborhood in N.Durham that has 5-6 other houses for sale. We are fortunate but I see less "Home for Sale" signs than a year ago....