I’m always intrigued by the Friday and Saturday real estate section of the N&O. Last month the paper ran a syndicated article (as they do each Friday and Saturday). The October 24th paper offered this article: “Finding an area with most appreciation potential“. The advice was excellent with the columnist advising local home buyers to look for communities that are most prone to better than average appreciation values. In today’s Raleigh real estate market, home buyers know they are buying a community or neighborhood as much as they are buying a home. That being said, I always say partner with a local Raleigh real estate expert and choose your property wisely. I would even go so far as to say use the suggestions syndicated columnist Ms. Martin offers below:

• Purchase a home in a community supported by a strong job market. While no area is totally immune to job lose, the Triangle area continues to win accolades for a superior job market and fertile business climate. The fact that the Research Triangle Park is a hotbed for technology and research anchored by our illustrious universities, our job market should remain on a firmer foundation than those areas that are focused on manufacturing.

• Aging boomer buyers will relocate to areas offering a milder climate and quick and easy access to outstanding local health care facilities. Few areas around the country can compete with the Raleigh, Durham and Chapel Hill area for 4 distinct mild seasons and better health care. Nationally recognized health care facilities include Duke Med (Durham, Raleigh & soon to be Knightdale), Wake Med (Raleigh-Cary-Apex & soon-to be Knightdale), and Rex Healthcare (Raleigh-Cary & Knightdale-opening next spring) all are nationally-recognized health care leaders.
• Another recommended component suggested by the columnist includes buying a home in an area that is near a major university. In the Triangle, you can’t go wrong here! The cornerstone of every community that makes up the Triangle is anchored by a large university plus many smaller universities, colleges and community college.

1. Raleigh is home to North Carolina State University (state-supported)
2. Chapel Hill has the University of North Carolina at Chapel Hill (state-supported)
3. Durham is home to Duke University, a private Methodist supported university

• Select a home in a walkable Triangle community. While we may be lagging a bit in this category due to our suburban sprawl, forward-thinking Wake County developers are building more “walk-friendly” developments. These new Wake County developments include a mix of residential, commercial (grocery-shops-services) and office space. A few prime examples of this concept includes those being built in several areas of Wake County. The North Hills project by Jim Kane and the Wendell Falls planned development project being built by Mercury Development in Wendell are good examples of walkable communities.

• One local benefit we enjoy that was not mentioned by the syndicated columnist is the fact that we are somewhat resistant to job layoffs because Raleigh is a state capital. That’s the problem I see with the N&O asking someone to write an article that has a national scope and not a hyper-local connection. The point being, when was the last time you heard state government was cutting jobs? If history is our teacher, expect the local, state and federal government to grow not shrink.
• One of the last recommended components of a desirable neighborhood should have a representation of superior home builders. Because of our unique relationships with many of the Triangle’s finest custom builders, the Jim Allen Group markets the absolute best custom built properties in the greater Raleigh real estate market.

Given all the benefits of living in the Triangle, we should be well-positioned for a quicker real estate market rebound than the other areas of the country when the economy improves in 2009.

Do you agree or disagree?

Until my next post,

Jim