Jim Allen Blog

The Fuel that Keeps The Triangle’s Economy Humming Along!

While the Raleigh real estate market is considered “so-so” when compared with the robust “go-go” years of 2002-2006, one facet of the Triangle economy that continues to hum right along is the local job market. One only has to observe the business media to read headline after headline of accolades the greater Raleigh, Durham and RTP area’s enjoy with job creation, sustained livability and quality of life. One of the local leaders in job creation is the pharmaceutical sector.

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Recently, Raleigh Newspaper - News & Observer reporter Stacy Downs wrote a story on Generation Y Home buyers. If you’re not a member of the Y generation and you’re trying to figure out who they are, Gen Y’s were born from 1978-1994. Other names for Gen Y’s include “Millennials”, “Echo Boomers”, “the Internet generation”, and “Nexters”.

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Because all of us here at The Jim Allen Group are so involved in custom new home construction in the Triangle, we keep our fingers on the collective pulse of the Raleigh real estate market and Triangle area custom home builders. It helps to let Raleigh new home buyers know what are the latest must-have features builders are adding to their mid-priced custom new homes around the Triangle. Even families moving to the Triangle are bringing with them similar request for these highly popular features. Checkout what’s new with new construction in the Triangle:

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Due to the overwhelming popularity of Raleigh, many new home buyers are asking what hotels we recommend to those coming to the Triangle for a house hunting trip. Because the Triangle is such a strong business center, finding available hotel rooms especially during the week can be a bit of a challenge. We are always available and happy to assist with your hotel needs if you are coming to the Triangle to view homes for sale in our area.

Some of the better Triangle area hotels our clients have used in the past include:

• Sheraton Raleigh Hotel Downtown (919) 834-9900
• Raleigh Hilton - North Raleigh (919) 872-2323
• Embassy Suites Hotel Raleigh-Crabtree (919) 881-0000
• Marriott Hotels & Resorts Raleigh Marriott (919) 781-7000
• Extended Stay Hotels Inc - Raleigh (919) 829-7271
• The Umstead Hotel and Spa - Cary (919) 447-4000
• Homestead Raleigh - Crabtree Valley (919) 510-8551

More Raleigh Hotel Choices Coming Soon

If you’re planning a move to Raleigh around the first of 2009, your choices for available hotel rooms will be greater. The North Hills Renaissance Hotel is scheduled to open in early 2009. Located just down the road from the offices of the Jim Allen Group, this beautiful new hotel will offer conveniences galore! Located right in the middle of the new North Hills business and shopping district, guest will be offered many dining and shopping choices. Some of the in room amenities available to each hotel guest at the new Renaissance Hotel include:

• Free wired and wireless high speed internet access
• A 37″ high-def TV in the room (with jacks for accessory connectivity)
• A 15″ high def TV in the bathroom
• Refrigerator
• Safe
• 300 thread-count sheets
• Complimentary parking

Contact Us Today

If you are thinking about relocating to the Triangle area of North Carolina and need assistance with arranging your local lodging, please leave a message or contact the Jim Allen Group for all your Triangle home buying needs.

Your Raleigh real estate specialist,

Jim Allen

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It just doesn’t seem to end. Raleigh continues to be recognized for offering a superior quality of life. Forbes.com recently recognized Raleigh for being one of the most attractive places to live for the members of the Baby Boomer generation who are empty nesters. A solid Raleigh job market and the prospect of living near family has helped to lure many empty nesters to the Triangle. Of course, the city’s college sports teams (NCSU), the performing arts offerings and recreational opportunities all combine to make Raleigh an attractive place to call home. While the recent downturn in the economy has stalled the construction of luxury condos in downtown Raleigh, plans for another 2,600 residential units to the existing 5,250 condos, apartments and single-family homes are in process. Add the country’s best health care facilities and it’s no wonder Raleigh was voted the #2 place in the US to live for empty nesters.

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The Capital city of Raleigh continues to receive recognition for quality of life, good schools, solid economic stability and now Forbes states Raleigh is the Best of the Best for Business and Career opportunities. Forbes.com compiled this list by ranking the following metrics:

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It’s a known fact; mortgage foreclosures are on the rise everywhere. They are also happening in the Triangle real estate market too albeit less often than Florida, Nevada and Michigan. Foreclosures also happen in every housing segment impacting everyone from first-time homeowners to luxury homes. For those who are contemplating a Triangle home sale, the fact that a foreclosure home in your neighborhood is competing with your home could potentially have an undesirable impact on the sale of your home and its value. So how do you recognize if a neighborhood property is being sold as a condition of foreclosure?

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This article was written by Denise Sherman, a correspondent with the News & Observer. I noticed this article in the January 26th Issue and just had to post it.

Jobs, jobs, and more jobs.

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Helping Raleigh Townhome Buyers and Sellers in the Face of Underfunded HOA’s

Back in the mid to late 1980’s Raleigh home builders began to construct several townhome communities in the greater Triangle area. While not all developers and builders targeted first time home buyers (Jud Ammons, developer of Winchester Pointe townhomes in Greystone Village built high-end luxury units), the primary reason for building these communities was to offer more affordable housing options for Raleigh home buyers. Plus, Triangle townhomes were an affordable real estate portfolio option for local investors who purchased townhome units for positive cash flow rental units. Once constructed, these townhome communities transitioned to a separate HOA management company that make it their business managing and maintaining the community.

What is the Financial Condition of Your HOA?

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If you’re a Raleigh-based corporate executive or you’re thinking about relocating to Raleigh, NC and you travel often, you may have given thought to living near to the RDU airport. Because we have experience helping all kinds of home buyers, The Jim Allen Group understands the unique needs of a Triangle home buyer who happens to own a private jet or is a Platinum Medallion Flyer with Delta. Because you’re often away from your loved ones, these features and amenities are a must for your new Raleigh home:

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