GayRealEstate USA

Around the Nation -- Residential Real Estate Update - North Carolina

By Jeff Adolph

State-by-state

Situated in the Southeastern region of the U.S.A tnear the Atlantic Seaboard, this state is ranked as the 10th largest by lpopulation with 8,049,313 people residing in this region. The capital city is Raleigh (pictured left) and the largest city is Charlotte.

This states economy relies heavily on poultry, eggs, tabacco, hogs, milk, nursery stock, cattle, sweet potatoes, and soybeans along with financial services and the manufacturing of textiles, chemicals, electrical equiptment, pulp and paper products.

Income in this state ranges between 6-8%, and sales tax is set at 4.25%. Property tax in this state is assessed locally and collected by the counties at fair market value.

Durham

Homes are typically sitting on the market for 90-120 days in this region with the median home price hovering around $200,000. The market trend in this area is said to be increasing and this is attributed to good economic news.

Buyers are getting 95-100% of their asking price and the hottest valued market in this region is 'new constructon', which is going up rapidly with many builders offering excellent buyer incentives. 

LGBT Real Estate Facts: There are approximately 16,198 same-sex couples residing in North Carolina making this region the 11st gayest state in America. The gayest zip codes in this locality are 28205 Eastway, Charlotte; 27705 West Durham; 28806 Haywood -- Asheville; 27707 Shepard/South Square/Lakewood/Forest Hills -- Durham; 27701 Northgate -- Durham. -- gaydemographics.com

Main Story Source: House Hunt (2008) Real Estate Market Trends; available online at http://www.househunt.com

Picture Source: wikipedia.org

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Have Your Say On the LGBT Political Front - August 19th 2007

By Jeff Adolph

LGBT Politics

In a national first, the Democrats are challenging the Republicans by staging a debate that is dedicated to the LGBT community and will answer many of the issues facing Lesbians, Gays, Bi-sexual's and the Transgendered across the nation.

The leading candidates for the Democratic  nomination for presidency will actively involve themselves in this debate on August the 9th, which is being telecast by LOGO, a gay cable network. Alternatively, you may view proceedings on http://www.logoonline.com/ if you are unable to access the network.

Participants in the debate will include Hilary Clinton, Barack Obama and John Edwards (pictured above), with the moderators being singer Melissa Etheridge and Joe Solmonese, Human Rights Campaign's president.

If you would like to actively participate by lodging questions for the candidates to answer you may do so by logging on to LOGOonline.com as well as on HRC.org.

Source: Demorcrats to Hold Gay Debate (2007) available online at www.wweek.com

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Raliegh, Warehousing and Residential Growth

By Jeff Adolph

New Development

Raleigh once a district known for its industrial warehouses is enjoying a new reputation as a place to work and play. New nightclub's and condominium's are making the area one that people are falling in love with.

Raleigh resident, Joe Farmer believes the move is one to commend as he stated, 'I think it's exciting because I'm a native of Raleigh and it's been fun to watch all of downtown get some much needed attention.'

The increased growth and activity is attributed to the availability of space and warehousing since the 'TTA dropped it's bid for a commuter train line'.

As Realtor Larry Carter said of the warehousing available, 'It's the last real estate that really works for nightclubs. Everything in Glenwood South is very saturated and there's no real estate available there for new ideas and new ventures. This area has a lot of larger buildings, so you're not limited to space.'

The next initiative to follow will be the development of condominiums so additional housing will become readily available.

As Koha Dinh, manager at Five Star a housing facility said, 'the residential unit condominiums are coming up, and it's more desirable to live and work and play here'.

While Raleigh has always had gay clubs scattered amongst its warehouses it is developing into a thriving area of diversity, one that many are happily flocking to.

Source: Bringle, J (2007) Buzz Keeps Building available online at http://www.newsobserver.com/105/story/546045.html

Images: www.raleighhomesbyruby.com and www.parkerlincoln.com

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© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

New Development

Raleigh once a district known for its industrial warehouses is enjoying a new reputation as a place to work and play. New nightclub's and condominium's are making the area one that people are falling in love with.

Raleigh resident, Joe Farmer believes the move is one to commend as he stated, 'I think it's exciting because I'm a native of Raleigh and it's been fun to watch all of downtown get some much needed attention.'

The increased growth and activity is attributed to the availability of space and warehousing since the 'TTA dropped it's bid for a commuter train line'.

As Realtor Larry Carter said of the warehousing available, 'It's the last real estate that really works for nightclubs. Everything in Glenwood South is very saturated and there's no real estate available there for new ideas and new ventures. This area has a lot of larger buildings, so you're not limited to space.'

The next initiative to follow will be the development of condominiums so additional housing will become readily available.

As Koha Dinh, manager at Five Star a housing facility said, 'the residential unit condominiums are coming up, and it's more desirable to live and work and play here'.

While Raleigh has always had gay clubs scattered amongst its warehouses it is developing into a thriving area of diversity, one that many are happily flocking to.

Source: Bringle, J (2007) Buzz Keeps Building available online at http://www.newsobserver.com/105/story/546045.html

Images: www.raleighhomesbyruby.com and www.parkerlincoln.com

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© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

New Development

Raleigh once a district known for its industrial warehouses is enjoying a new reputation as a place to work and play. New nightclub's and condominium's are making the area one that people are falling in love with.

Raleigh resident, Joe Farmer believes the move is one to commend as he stated, 'I think it's exciting because I'm a native of Raleigh and it's been fun to watch all of downtown get some much needed attention.'

The increased growth and activity is attributed to the availability of space and warehousing since the 'TTA dropped it's bid for a commuter train line'.

As Realtor Larry Carter said of the warehousing available, 'It's the last real estate that really works for nightclubs. Everything in Glenwood South is very saturated and there's no real estate available there for new ideas and new ventures. This area has a lot of larger buildings, so you're not limited to space.'

The next initiative to follow will be the development of condominiums so additional housing will become readily available.

As Koha Dinh, manager at Five Star a housing facility said, 'the residential unit condominiums are coming up, and it's more desirable to live and work and play here'.

While Raleigh has always had gay clubs scattered amongst its warehouses it is developing into a thriving area of diversity, one that many are happily flocking to.

Source: Bringle, J (2007) Buzz Keeps Building available online at http://www.newsobserver.com/105/story/546045.html

Images: www.raleighhomesbyruby.com and www.parkerlincoln.com

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© 2006 Jeff Adolph GayRealEstate USA

Is North Carolina's Housing Market in Limbo?

By Jeff Adolph

Housing Market Update

At present North Carolina's economy is in the hand's of the Realtors, with real estate sign's lingering on household lawns longer than hoped for could it spell a slow and sluggish 2007?

As Barry Boardman, economist said of the situation, 'the real estate slow down has finally arrived.'

Though, many are doubtful that North Carolina will be as hard hit as other states, with the average home price still up by as much as 2% on 2006 prices, meaning the median is hovering around $214,952.

However, real estate is still tipped to be one of the 'biggest uncertainties' during the next 12 months, with sales effecting consumer purchases and the construction market.

North Carolina it seems has held its own on the housing front and Senior Economist, Lawrence Yun, felt this was attributed to the states avoidance of 'skyrocketing prices' as it was attracting new employment opportunities with the relocation of large businesses to the state, which created job growth.

As Yun stated, 'the combination of affordability and job growth assures the real estate market remains strong in 2007.

Meaning, North Carolina's housing market will remain consistent and should start to see growth in the closing months of the year, and lift the mist of confusion from the faces of seller's and buyers alike.

Sources: Johnson, M (2007) N.C Housing Market Still Wait-and-see available online at http://www.charlotte.com/mld/charlotte/news/politics/16585084.html

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© 2007 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market Update

At present North Carolina's economy is in the hand's of the Realtors, with real estate sign's lingering on household lawns longer than hoped for could it spell a slow and sluggish 2007?

As Barry Boardman, economist said of the situation, 'the real estate slow down has finally arrived.'

Though, many are doubtful that North Carolina will be as hard hit as other states, with the average home price still up by as much as 2% on 2006 prices, meaning the median is hovering around $214,952.

However, real estate is still tipped to be one of the 'biggest uncertainties' during the next 12 months, with sales effecting consumer purchases and the construction market.

North Carolina it seems has held its own on the housing front and Senior Economist, Lawrence Yun, felt this was attributed to the states avoidance of 'skyrocketing prices' as it was attracting new employment opportunities with the relocation of large businesses to the state, which created job growth.

As Yun stated, 'the combination of affordability and job growth assures the real estate market remains strong in 2007.

Meaning, North Carolina's housing market will remain consistent and should start to see growth in the closing months of the year, and lift the mist of confusion from the faces of seller's and buyers alike.

Sources: Johnson, M (2007) N.C Housing Market Still Wait-and-see available online at http://www.charlotte.com/mld/charlotte/news/politics/16585084.html

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© 2007 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market Update

At present North Carolina's economy is in the hand's of the Realtors, with real estate sign's lingering on household lawns longer than hoped for could it spell a slow and sluggish 2007?

As Barry Boardman, economist said of the situation, 'the real estate slow down has finally arrived.'

Though, many are doubtful that North Carolina will be as hard hit as other states, with the average home price still up by as much as 2% on 2006 prices, meaning the median is hovering around $214,952.

However, real estate is still tipped to be one of the 'biggest uncertainties' during the next 12 months, with sales effecting consumer purchases and the construction market.

North Carolina it seems has held its own on the housing front and Senior Economist, Lawrence Yun, felt this was attributed to the states avoidance of 'skyrocketing prices' as it was attracting new employment opportunities with the relocation of large businesses to the state, which created job growth.

As Yun stated, 'the combination of affordability and job growth assures the real estate market remains strong in 2007.

Meaning, North Carolina's housing market will remain consistent and should start to see growth in the closing months of the year, and lift the mist of confusion from the faces of seller's and buyers alike.

Sources: Johnson, M (2007) N.C Housing Market Still Wait-and-see available online at http://www.charlotte.com/mld/charlotte/news/politics/16585084.html

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© 2007 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market Update

At present North Carolina's economy is in the hand's of the Realtors, with real estate sign's lingering on household lawns longer than hoped for could it spell a slow and sluggish 2007?

As Barry Boardman, economist said of the situation, 'the real estate slow down has finally arrived.'

Though, many are doubtful that North Carolina will be as hard hit as other states, with the average home price still up by as much as 2% on 2006 prices, meaning the median is hovering around $214,952.

However, real estate is still tipped to be one of the 'biggest uncertainties' during the next 12 months, with sales effecting consumer purchases and the construction market.

North Carolina it seems has held its own on the housing front and Senior Economist, Lawrence Yun, felt this was attributed to the states avoidance of 'skyrocketing prices' as it was attracting new employment opportunities with the relocation of large businesses to the state, which created job growth.

As Yun stated, 'the combination of affordability and job growth assures the real estate market remains strong in 2007.

Meaning, North Carolina's housing market will remain consistent and should start to see growth in the closing months of the year, and lift the mist of confusion from the faces of seller's and buyers alike.

Sources: Johnson, M (2007) N.C Housing Market Still Wait-and-see available online at http://www.charlotte.com/mld/charlotte/news/politics/16585084.html

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© 2007 Jeff Adolph GayRealEstate USA

Raleigh Landlords Are Seeing A Change In Trend

By Jeff Adolph

Landlords and Tenants

Not so long ago real estate agencies who managed industrial rent rolls and the landlords of such facilities (owners of the warehouses themselves often with expensive mortgages) used to dread the wait that they anticipated when an exisiting tenant uttered those fateful words, 'We will not be renewing our lease.'

It meant the possibility of twelve months without a tenant on the site because the commitment and cost associated was often too high for many businesses, especially when their overheads were being increased because of rent.

What shocked a local Raleigh real estate agent was when the tenants of a local warehouse left and other businesses instantly jumped at the opportunity to lease the establishment, so much so that the firm had to negotiate between the interested parties.

As Kelton, senior vice president of the agency watched two companies vie over the 26,000 sq foot space; he had to finally say, 'the first one to sign gets the space.'

Two weeks later the property was leased and as Kelton added, 'I've never seen a lease signed so quickly,' and this comes from an agent with over 25 years experience.

Two years ago the same locality in East Raleigh was almost deserted as high-tech companies went bust and moved on.

Now a surge in manufacturing and distribution of a plethora of products, from machinery to lingerie, from the hetero sexual to the gay, is seeing not only tenants' tussle for space but also landlords raising rents and development growing in the region.

And, the statistics are astounding:

1. Just less than one million sq feet of warehousing was leased over the first six months of the year, a figure that has doubled when compared to last years figures.
2. Also the rental rate has reached a record high since 2003 with a 6c increase to $4.19 per sq foot.
3. There was 150,000 sq feet of warehousing under construction at the end of the second quarter, the most since 2001, and there is another 62,000 sq feet still to be constructed.

Chris Norvell, a broker confirmed his astonishment at the recent development when he said, 'more are coming. In my eleven years of experience I haven't seen activity like this.'

Gone are the days of concessions, free rent and other incentives to entice tenants into the area, in fact, there is landlords rubbing their hands together as they plan to build more warehouses.

Source:  Hagel, J (2006) Warehouses Snapped Up: Change Is A Boon For Landlords: available online at http://www.newsobserver.com

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© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Landlords and Tenants

Not so long ago real estate agencies who managed industrial rent rolls and the landlords of such facilities (owners of the warehouses themselves often with expensive mortgages) used to dread the wait that they anticipated when an exisiting tenant uttered those fateful words, 'We will not be renewing our lease.'

It meant the possibility of twelve months without a tenant on the site because the commitment and cost associated was often too high for many businesses, especially when their overheads were being increased because of rent.

What shocked a local Raleigh real estate agent was when the tenants of a local warehouse left and other businesses instantly jumped at the opportunity to lease the establishment, so much so that the firm had to negotiate between the interested parties.

As Kelton, senior vice president of the agency watched two companies vie over the 26,000 sq foot space; he had to finally say, 'the first one to sign gets the space.'

Two weeks later the property was leased and as Kelton added, 'I've never seen a lease signed so quickly,' and this comes from an agent with over 25 years experience.

Two years ago the same locality in East Raleigh was almost deserted as high-tech companies went bust and moved on.

Now a surge in manufacturing and distribution of a plethora of products, from machinery to lingerie, from the hetero sexual to the gay, is seeing not only tenants' tussle for space but also landlords raising rents and development growing in the region.

And, the statistics are astounding:

1. Just less than one million sq feet of warehousing was leased over the first six months of the year, a figure that has doubled when compared to last years figures.
2. Also the rental rate has reached a record high since 2003 with a 6c increase to $4.19 per sq foot.
3. There was 150,000 sq feet of warehousing under construction at the end of the second quarter, the most since 2001, and there is another 62,000 sq feet still to be constructed.

Chris Norvell, a broker confirmed his astonishment at the recent development when he said, 'more are coming. In my eleven years of experience I haven't seen activity like this.'

Gone are the days of concessions, free rent and other incentives to entice tenants into the area, in fact, there is landlords rubbing their hands together as they plan to build more warehouses.

Source:  Hagel, J (2006) Warehouses Snapped Up: Change Is A Boon For Landlords: available online at http://www.newsobserver.com

---------------------------------------------------------

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What do you think of the recent business growth, is it a possible sign of bigger things to come?

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-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Landlords and Tenants

Not so long ago real estate agencies who managed industrial rent rolls and the landlords of such facilities (owners of the warehouses themselves often with expensive mortgages) used to dread the wait that they anticipated when an exisiting tenant uttered those fateful words, 'We will not be renewing our lease.'

It meant the possibility of twelve months without a tenant on the site because the commitment and cost associated was often too high for many businesses, especially when their overheads were being increased because of rent.

What shocked a local Raleigh real estate agent was when the tenants of a local warehouse left and other businesses instantly jumped at the opportunity to lease the establishment, so much so that the firm had to negotiate between the interested parties.

As Kelton, senior vice president of the agency watched two companies vie over the 26,000 sq foot space; he had to finally say, 'the first one to sign gets the space.'

Two weeks later the property was leased and as Kelton added, 'I've never seen a lease signed so quickly,' and this comes from an agent with over 25 years experience.

Two years ago the same locality in East Raleigh was almost deserted as high-tech companies went bust and moved on.

Now a surge in manufacturing and distribution of a plethora of products, from machinery to lingerie, from the hetero sexual to the gay, is seeing not only tenants' tussle for space but also landlords raising rents and development growing in the region.

And, the statistics are astounding:

Source:  Hagel, J (2006) Warehouses Snapped Up: Change Is A Boon For Landlords: available online at http://www.newsobserver.com

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What do you think of the recent business growth, is it a possible sign of bigger things to come?

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© 2006 Jeff Adolph GayRealEstate USA

Town Houses are Becoming Luxury Living Trend

By Jeff Adolph

Investment Property

As fuel prices escalate along with land costs, people search for luxury housing closer to their place of employment and a consolidation of space without sacrificing quality.

Dale King, real estate agent in Charlotte felt there was a large target market who want maitenance free-living, but don't want to compromise the luxury and the quality of the location.

At present a 40-unit project called Highland Park situated at Club and Silas Creek Parkway and is a joint town house venture between Adams Egloff Avant Properties and the Taylor Development Group.

As Trent Adams stated, 'It's exciting and cutting-edge for development in Winston-Salem.

Charlotte has some 3,000 plus condos and town houses and the number is continually growing as people downsize or search for simplicity with a touch of class.

Kerry Avant, a partner with AEA Properties believed that moving into a town house is a great lifestyle change for people who want to downsize or are tired of their yards and want maintenance-free living and a great intown location. This is a lifestyle choice that is becoming very popular amongst the GLBT community, and young urban professionals as well as those who are aging.

While Charlotte has had luxury town houses and condos for a long time the percentage of sales is increasing in the home sales market across the United States. So much so that industry experts have acknowledged that such developments are primarily growing in the larger cities like Atlanta, Raleigh and Charlotte.

Highland Park offers floor plans raning from $459,000-$545,000 with up to 2,860 square feet of living, 10 foot ceilings, built-ins, copper accents, granite and hardwood features, and walled courtyards.

As one real estate appraiser stated, 'That's a very sought after location, a very well established, upper-end type neighborhood.'

Michael Rierson and his wife who had once resided in Winston-Salem were considering returning to the area after living in Houston for some time.

As Rierson said, 'Everything to us looks high-end, we really like the tall ceiling and the wideness, plus the fact that most of the places we would travel to from Highland Park are only five minutes away. And that, in my opinion, is worth it, with the price of gas today that's worth M-O-N-E-Y.

Especially, when in Charlotte the city is growing and land is becoming more expensive, such a real estate acquisition is bound to appreciate in value and become a worth while investment opportunity for many.

Source: Daniel, F (2006) Luxury Living: High-end Townhouses Moving to Winston-Salem: available online at http://www.journalnow.com

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© 2006 Jeff Adolph GayRealEstate USA

A Careefree Environment Nurturing Growth of the GLBT

By Jeff Adolph

Retirement Localities

165 acres of hardwood forest offers a tranquil, unsurpassed naturally beautiful environment, one that is safe and inviting and creates a heart warming ambience in a neighborhood where any aging person would thrive. However, here members of this community can walk hand-in-hand, dance together, and discuss their relationships openly and unself-consciously about their same-sex partners.

The place is Carefree Cove, a GLBT retirement community that provides peace of mind, stunning views of the Snake Mountains and an alternative lifestyle; where split rail fencing, native gardens and stone structures are just some of the special touches that create this fortuitous environment.

The brain-child of Cathy Groene and Gina Razete, both in their fifties was inspired by the need to accommodate the growing number of gay and lesbian retirees, especially when it is anticipated over 5 million within the GLBT community will be fifty years and over by the year 2020.

Plus, it is believed that many gay retirees do not want to struggle any longer for acceptance, as they have done so in the past, not to mention those who want their sexual orientation to be public instead of repressed and hidden as they have done for most of their lives.

As Jeanne Dolan, who a 53 year old online college instructor stated, 'I liked the idea of living in a community where I could be open and accepted, even embraced for who I am.'

And, another potential buyer said, 'It doesn't have to be exclusively gay and lesbian. I just want to be in the majority for once in my life.'

The Carefree Cove development is Groene and Razette's second development; the first situated in Fort Myers, Florida, was constructed in 1994 and is exclusively for women who were promised confidentiality.

As the ladies stated, 'We went through the 70's, the whole feminist thing, asking "Why should these men have private clubs?" As Groene added, 'Now, we're older. We're wiser. We understand that people want to get together.'

Men and women are buying allotments and building at Carefree Cove, which are selling for $40,000 and up.

Frank Bytautas, 47 and a real estate agent bought a property recently in Carefree Cove, where he and his partner Bill Sevigny, a 62 year old grocery chain executive, will retire in the next three years.

As Bytautas said, 'We don't go to all gay restaurants or on all gay vacations, but I think growing old and being with people who have the same lifestyle is great.'

How very true, with the need for a safe place to retire and know that you can count on others within your community for support, GLBT retirement communities will increase, and thanks to the innovative foresight of people like Cathy Groene and Gina Razete this aspiration is slowly becoming reality for many who near their graying years.

Source: White, G (2005) Openly Gay Retirement Communities Growing: available online at http://www.journal-news.com

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DO you know of anyone living in a GLBT retirement community or are you considering moving to one? Share your experience; we'd love to hear what you think...

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© 2006 Jeff Adolph GayRealEstate USA

Real Estate Lawyer and Gay Senator has a Different Agenda

By Jeff Adolph

Gay Politics

Senator Julia Boseman has confused many with her outlook and approach on her role within government; it seems speculation as to her ability was controlled by her sexual orientation, with many believing she would push for same sex marriage in South Carolina.

Yet, Boseman's focus is more on the people of her community than on her own personal agenda.

Julia, a real-estate lawyer who has been dealt her fair share of criticism in the past, listens to what the people of the community want and then tries to effectuate these desires with the bills she passes in the New Hanover District, a particularly tough neighborhood.

Moreover, for those of you who are skeptical about whether a real estate lawyer can cut the mustard in politics, think again. Real estate law deals with local laws that differ from juristiction to juristiction, zoning or permitted use laws, neighborhood or condominium association by-laws, environmental restrictions, tax concerns and a plethora of property ownership considerations, not to mention understanding the complexed language that the purchase and sales agreement is written in. All of which, provide a senator with a fabulous background to governing a district.

As Senator Tom Apodaca of the Henderson Region stated in relation to Julia's performance, 'She's been given a lot of bills - and the important word is given - for a freshman.' 

While Julia may be learning the ropes and looking after her constituent's best interest Ms. Boseman is also discovering that her electorate is full of heart-felt warmth and compassion. 'Probably one of the biggest surprises after my election was gosh, people are nice... a lot of these folks have become like a second family to me, Julia said.

This comes after a particularly dominating electoral campaign where the opposition ran newspaper ads and mailings highlighting Boseman's sexual orientation, along with declarations that she would be an advocate for the gay community rather than the community as a whole. Issues that she has proven to be entirely wrong assumption of and that she was open about from the start of her campaign.

It just goes to show that the agenda some anticipate may not be what others have in mind...

Sources: Associated Press (2006) Lesbian N.C Senator Goes Against Opponents' Expectations available online at http://www.myrtlebeachonline.com

© 2006 Jeff Adolph GayRealEstate USA