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Peak Swirles & Cavallito P RO P E RT I E S
DURHAM & CHAPEL HILL, NC Featuring Properties in Durham, Orange, Chatham, Wake and Alamance Counties Volume 1 Issue 6B
B R I N G I N G YO U R FA M I LY H O M E
TM
See page 11 for this Beautiful Home in Hope Valley - 3900 Hope Valley Road
Search available Triangle properties online at
www.pscp.com
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BROKER’S BRIEF
Bob Jamieson Cell (910) 232-1893 bjamieson@pscp.com
Peak Swirles & Cavallito P RO P E RT I E S
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How’s the market? At a cookout, in the grocery line or at the soccer field, someone trying to make conversation will invariably ask, “How’s the market?” A good response is, “It depends where you live.” Actually the correct answer is more complex than that, and it’s always changing, but where you live is a good place to begin. The Triangle market is strong when compared to many other regions of the country, but anemic when compared to the bubble years. Raleigh, Chapel Hill and Durham each have their own markets conditions and within each of them there are hundreds of micro-markets that differ due to location, price range and age of the structures. The strongest market has been what I call the “shelter” properties composed of primary residences and investment properties up to the $400,000 range. The upper or “lifestyle” market has been much slower in spite of generous discounts by motivated sellers. Some buyers believe that they can get more value by just considering properties in foreclosure or short sales, not realizing that all properties should be priced in relation to the most recent sales in their neighborhoods, foreclosures or not. There are other mini-markets such as neighborhoods near universities, medical centers, high achieving school districts, and certain downtown areas that are holding their value better than others. If you are a buyer, this is the ideal time with prices just beginning to tick upward and interest rates still unbelievably low. If you are a seller, you can only control what goes on inside your property lines so put your property in tip top condition, stage to attract the buyer’s eye, and price aggressively right out of the box. Navigating this market is challenging even for professionals, so choose your agent wisely. Let our knowledge be your edge.
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1027 ROSEDALE AVENUE-LYONS PARK Great home for investor or first time home buyer. Close to Duke. $69,000 MLS/ID:1783565
220 ELIZABETH STREET, UNIT D2-VILLAGE GREEN Condo with large bedrooms and closets. Remodeled kitchen with new cabinets. Upgraded windows and doors. Great location. $119,000 MLS/ID:1781996
107 LONG SHADOW PLACE-WOODCROFT Beautifully maintained townhome in quiet neighborhood. New AC, roof, deck and updated light fixtures. $119,900 MLS/ID:1766102
2 APPLEWOOD SQUARE-WOODCROFT One story very cute 2 bedroom, 2 bath townhome with great light. Huge great room with fireplace. Large master. $125,000 MLS/ID:1778292
93 FOREST OAKS DRIVE-FOREST OAKS Hard to find one level end unit townhome only 5 minutes to Duke. Freshly painted, new wood floors. $129,500 MLS/ID:1789406
704 MARTIN LUTHER KING JR, BLVD #D13-MILL CREEK Great Chapel Hill location! 2 bedrooms each with private bath. Community pool. Walk to Franklin Street. #138,500 MLS/ID:1791082
2515 CHAPEL HILL ROAD-LAKEWOOD Delightful 1942 cottage. 2 main floor bedrooms. Separate dining room. Garage. Great location. $149,900 MLS/ID:1751257
3314 LASSITER STREET-LASSITER Recently painted 3 bedroom, 2 1/2 bath home. Backyard completely fenced. Great location near Duke, UNC and RTP. $165,000 MLS/ID:1781956
404 W CORNWALLIS ROAD - ROCKWOOD Like new! Built in 2007, beautifully maintained. Hardwoods in formal areas. Master suite on main floor. $179,000 MLS/ID:1782806
100 MORGANS CORNER RUN-PARK VILLAGE Great transitional home in neighborhood with tremendous amenities. Easy access to shopping and Davis Drive Park. $190,000 MLS/ID:1779515
7 HOMESTEAD COURT-HOPE VALLEY FARMS Pristine transitional. New laminate, carpet, paint and much more. Private flat yard. Great sunny interior. $190,000 MLS/ID:1785746
226 WAXHAW DRIVE-NORTHERN DURHAM Lovely 2100 SF brick home on 1 acre lot. Beautiful hardwood floors and master bedroom on main level. $194,000 MLS/ID:1775002
5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707
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your dream home is just a click away. . .
www.pscp.com check out our site’s great features! • Ability to search every listing in the entire 16 county area of the multiple listing service
• Saved searches and immediate updates to let you know when a new listing comes on the market
• Multiple beautiful color photos for each listing
• Visual tours of properties, when available
• Detailed information including price, room dimensions, and special features
• Access to surveys and additional documents, when available
• Twitter notification for instantaneous updates from our real estate brokers
• Privacy, with no one contacting you unless additional information about a property is requested 4
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2822 PICKETT ROAD #143-PICKETT PARK Fabulous townhome close to Duke. Open floor plan with lots of light. Hardwood floors and fireplace with gas logs. $190,000 MLS/ID:1777299
3200 STANFORD DRIVE-UNIVERSITY ESTATES Comfortable and well cared for home on a large nicely landscaped lot. Fully fenced backyard with lovely deck. $194,000 MLS/ID:1779386
175 MONTROSE DRIVE-DUNBARTON Move in Ready!! Completely renovated in 2004. First floor master. Living room has fireplace and bookshelves. $214,000 MLS/ID:1758902
108 MONTROSE DRIVE - DUNBARTON Chic mid century design for urban dweller. 3 bedroom, 3 baths with fireplace plus garage. $214,000 MLS/ID:1725866
3201 STANFORD DRIVE-UNIVERSITY ESTATES Wonderful immaculate home with traditional floor plan on quiet cul de sac. 9’ ceilings, crown molding. Lovely landscaping. $215,000 MLS/ID:1784435
15 S CIRCLE DRIVE-DOGWOOD ACRES Renovated ranch. New roof, plumbing, HVAC, windows, kitchen and baths. Community garden. A must see. $219,900 MLS/ID:1787759
5417 FORTUNES RIDGE-WOODCROFT GREAT style. Ready for your buyer. New granite and tile in kitchen. Neutral carpet and paint. Large backyard and deck. $225,000 MLS/ID: 1784810
400 W KNOX STREET-DUKE PARK Updated/vintage 1950 brick ranch in great location. Site finished hardwoods. Too many new updates to list!! $225,000 MLS/ID:1783861
2701 OLD SUGAR ROAD-111 SEABOARD Tucked away on a cul de sac with 5 bedroom, 3 1/2 baths. Freshly painted, carpets cleaned. $230,000 MLS/ID:1775133
18 INNISFREE DRIVE-INNISFREE Great end unit brick townhome. Cherry cabinets and butler pantry in kitchen. Gas fireplace. New deck. Private courtyard. $235,000 MLS/ID:1783228
3200 TWIN STREAMS ROAD-TWIN STREAMS 3 bedroom, 3 bath. 2 1/2 acres, Lower level apartment and large garage workshop. $254,900 MLS/ID:1755435
209 WHITNEY LANE-AUBURN Lovely interior with open floor plan. Spacious rooms for entertaining. Hardwoods on first floor. Huge master suite. $269,500 MLS/ID:1778293
5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707
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Tony Matthews Cell: (919) 475-8800 tony@pscp.com
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Durham is Tony’s home, and always has been. He grew up in the southern area of the city and is finding it really exciting to see what’s happening here now, especially downtown. He always had an interest in real estate and took the broker licensing class just after graduating from Elon College in 1977 and bought his first “fixer-upper” shortly after that. After watching one too many episodes of This Old House, Tony started his own painting and carpentry business. From that point onward, his interest in real estate grew from renovating personal investment to going into real estate full time in 1995 and helping others find both a home that they love as well as a valuable asset for their portfolio. Our business is challenging, especially now, but it’s very rewarding as well. Tony really enjoys helping people find a home they love and one that brings value to their lives as well. His background has been an asset in helping his clients achieve that goal. Give Tony a call today so he can talk about your real estate goals!
Julian Culton
Liz Dean
Adam Dickinson
Cell: (919) 740-3333 jculton@pscp.com
Cell: (919) 451-3696 lizdean@pscp.com
Cell: (919) 452-3751 adam@pscp.com
Liz Gunselman
Laurie Jahnke
Bob Jamieson
Cell: (919) 225-4966 lizgunselman@pscp.com
Cell: (919) 614-4805 lauriejahnke9@aol.com
Cell: (910) 232-1893 bjamieson@pscp.com
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111 BLUEFIELD ROAD-PICKARD OAKS End unit with a two story open floor plan that is filled with natural light. Downstairs bedroom. Private deck. $269,900 MLS/ID:1769546
3946 NOTTAWAY ROAD-HOPE VALLEY Wonderful opportunity for large lot in Hope Valley. (Can buy adjacent lots for a total of 3 acres). $295,000 MLS/ID:1677181
117 TRAWICK PLACE-HEATHER GLEN Traditional brick 2 story home on beautiful 1+ acre. Family room with built ins. French doors to terraced deck. $299,999 MLS/ID:1783003
1107 PARK GLEN PLACE-GRANDALE PLACE Sunny, immaculate and beautifully upgraded! Pretty 4 bedroom plus bonus room and deck. $300,000 MLS/ID:1747880
7407 LEAPALE LANE-OAKHURST Shows like a model! Too many updates/upgrades to list. Exterior painted in 2011. Hardwoods throughout. $317,900 MLS/ID:1787155
2515 LANIER PLACE-DUKE FOREST Spacious Tudor-style home on a large lot. Freshly painted inside and out. All new carpet. Close to Duke. $325,000 MLS/ID:1773770
805 HERMITAGE COURT-FOREST HILLS Lovely 3 bedroom 2 1/2 bath in great location. Beautiful yard. Garage. Close to Duke, downtown, everything!! $350,000
4205 FOREST EDGE TRAIL-HOPE CREEK Wonderful home with an open floor plan in a terrific neighborhood. Rocking chair front porch and screened back porch overlooks fenced backyard. $355,000 MLS/ID:1771296
433 NEW PARKSIDE DRIVE-PARKSIDE Great location and loorplan. Fully fenced backyard. Vaulted family room. Lovely master suite on main level. $365,000 MLS/ID:1780252
4117 COBSCOOK DRIVE-MARYDELL ESTATE Beautiful, well maintained brick home on gorgeous landscaped lot. New paint throughout, new granite counters. 4 bedrooms, 2 1/2 baths. $399,000 MLS/ID:1768928
1010 URBAN AVENUE-TRINITY PARK Diamond in the rough!! Potentially fabulous home filled with historic details. Over 3600 SF on first 2 floors. $400,000 MLS/ID:1789403
WELDON DOWNS Southwest Durham’s premiere townhome community. All brick exteriors, hardwoods. Garages and courtyards. Priced from $384,900
5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707
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6388 Gumwood Road $835,000
MLS# 1773688
Picture perfect horse farm with gorgeous Cape Cod style home and impeccable barn. Lovely, rolling pastures with pond. Dressage arena, 6 stall barn and equipment/hay barn. Board fencing.
5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707
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Jane Phillips Cell: (919) 608-1407 japgoduke@aol.com
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How does a sweet southern girl with a business degree from the University of South Carolina end up “hawking” residential real estate and have some of her proudest moments doing it? To Jane, it’s all about real family values. Family considerations were also at the forefront when Jane decided to become a REALTOR in 1983. When she got her license in the mideighties it was a transformational time for Durham real estate. People relocating to the Triangle area were called “wingtips.” At the same time, Duke was emerging as one of the premier medical facilities in the world. No one refers to relocating folks as “wingtips” anymore, and now we are delighted to have them join our community. Those folks came from all over the world and brought energy and enthusiasm to our community. They turned a town built around tobacco into one of the hottest high tech areas in the country. Initially, Jane joined a premier agency of Durham, Allenton Realty, that was later absorbed by a large franchise group. While at Allenton, Jane mentored another young agent, Sudi Swirles, who went on with her partners to found Peak, Swirles and Cavallito Properties. When Jane decided to pick up her career again in 2003, she was welcomed with open arms. “I wouldn’t have considered anyplace else. I respect that they’ve built an independent organization of true professionals. I’m a little bit old fashioned that way,” she admits, “They attract clients that demand low key representation, personal service and absolute integrity and discretion. That’s the way I prefer to work. “Having a flexible schedule is still important to me, but that flexibility enables me to work with my clients to help them find just the right property that represents their family and their values. I love being in Durham and working with my clients.” Give Jane a call to talk to her about how you can find just the right home for your family!
Katie Joyce
Marcia Kessinger
Jenny MacKay
Cell: (919) 619-0144 katiejoyce@pscp.com
Cell: (919) 730-3351 marciakessinger@pscp.com
Cell: (919) 619-8149 jenmackay1@aol.com
DJ Maniace
Doug Nelson
Anne Sanford
Cell: (919) 616-2010 djmaniace@pscp.com
Cell: (919) 246-0325 dnelson@pscp.com
Cell: (919) 819-9312 azsanford@gmail.com
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3720 ST MARKS ROAD-HOPE VALLEY Great home with charming courtyard. Beautiful kitchen opens to great room with vaulted ceilings. Huge deck. Carport with large storage closet. $409,000 MLS/ID: 1784318
3938 WESTCHESTER ROAD-NEW HOPE VALLEY Classic 2 story traditional. Beautiful hardwoods on first floor. Kitchen has been updated and newly painted. $420,000 MLS/ID:1790808
2740 SPENCER STREET-DUKE FOREST Spacious interiors with gleaming oak floors, new carpet 3 fireplaces! Contemporary pizzazz. $509,000 MLS/ID:1718944
3506 WESTOVER ROAD-HOPE VALLEY Classic one level home on Hope Valley Golf Course. Large rooms and flexible spaces. Large bedrooms. Great location. $529,000 MLS/ID:1778684
2420 JONQUIL TRAIL-MEBANE Great opportunity for equestrian! Cape Cod with 2 masters. Huge family room. Porches, patios and deck overlook pond. $560,000 MLS/ID:1782691
4215 CHAMPAIGN DRIVE-NEW HOPE VALLEY 4 bedroom, 3 1/2 bath brick transitional. Kitchen opens to family and sun room. Gorgeous pool. $575,000 MLS/ID:1737131
3900 HOPE VALLEY ROAD-HOPE VALLEY Oasis on 1.4 acres. Immaculate, open traditional with high ceilings. Gorgeous upscale kitchen. $575,000 MLS/ID:1775569
3804 NOTTAWAY ROAD-HOPE VALLEY Remodeled transitional home on a one acre corner lot with very attractive landscaping. $579,000 MLS/ID:1767343
2718 ARTHUR MINNIS-HILLSBOROUGH Stone from the mountains of NC frame this lovely tudor. 6 acres of gated privacy 10 minutes from Chapel Hill. $599,000 MLS/ID:1775731
8932 SHIPWATCH DRIVE SHIPWATCH/WILMINGTON, NC Perfect family retreat, just 2 hours from Triangle. Unbelievable water views. Hardwood and tile floors. $600,000 MLS/ID:1784222
3307 SURREY ROAD-HOPE VALLEY Private, quiet elevated .77 acre site with view of 7th and 8th fairways. Traditional design. Shows like a model. $620,000 MLS/ID:1790606
3812 DUNSINANE DRIVE-NEW HOPE VALLEY Great home for entertaining. Huge family room overlooks backyard with cooking area and patios. $650,000 MLS/ID:1783431
5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707
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Michele has always possessed a passion for real estate. A North Carolina native, she grew up in the Charlotte area where her parents bought and sold investment properties for as long as she can remember, so you could say ‘it’s in her blood’. "Choosing a home is one of the most important and personal decisions a person ever makes," explains Michele. "And I am so honored each time a client selects me to guide them through that process!" Whether she is assisting a home buyer in the purchase of their dream home, or helping a seller move on to a new chapter of their life, Michele is passionate about helping people realize their dreams. More than ten years of experience practicing real estate in the Triangle has given Michele the finesse and knowledge necessary to offer the utmost in professional guidance, as well as, the wisdom to navigate the personal and sometimes stressful nuances of a real estate transaction. A graduate of Southern Wesleyan University, Michele has called Durham home since 1996. Raising a family of four children in Durham has given her unique insight into the needs and priorities of Triangle residents. When you’re ready to make a real estate decision, call Michele!
Michele Wright Cell: (919) 672-5686 mwright@pscp.com
Angela Sarvis
Laura Upchurch
Debbie White
Cell: (919) 621-4755 angeladsarvis@aol.com
Cell: (919) 612-2266 lupchurch@pscp.com
Cell: (919) 740-6970 momblanc@gmail.com
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Mary Wible
Peter Winkler
Cell: (919) 815-6628 mmwible@pscp.com
Cell: (919) 360-1285 peter@peterwinklerhomes.com
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3301 SERENITY LANE-HILLSBOROUGH 20+ acre horse farm with 6 stall barn and riding arena. All brick one level Cape Cod home. $650,000 MLS/ID:1755530
408 E FOREST HILLS BOULEVARD-FOREST HILLS Exceptional property overlooking park. Gracious rooms open to stone patio for wonderful outdoor entertaining. $695,000 MLS/ID:1789441
601 QUAIL ROOST FARM ROAD-HORSE COUNTRY Horse lover’s dream. 3 board fencing, run in shelters, riding ring and trails galore. Home is energy efficient. $700,000 MLS/ID:1786593
912 ANDERSON STREET-DUKE FOREST Southern Colonial Revival near Duke exudes classic charm and southern hospitality. Versatile floor plan. $745,000 MLS/ID:1787811
3722 HIGH MEADOW DRIVE-WINDY HILL Elegant 5 bedroom, 5 bath brick home with 3 car garage on one acre between Durham and Chapel Hill. $765,000 MLS/ID:1752516
105 WINDING RIDGE-COLVARD FARMS Stately European home that will delight you upon entry. Master bedroom on main floor. $874,900 MLS/ID:1748588
519 HOOPER LANE-HISTORIC DISTRICT Charming vintage home with beautiful landscaped yard in the heart of Chapel Hill. Cypress siding, new HVAC. $1,000,000 MLS/ID:1777536
8118 FARRINGTON MILL ROAD-HORSE COUNTRY Exceptional home that is virtually brand new with incredible detailing at every turn. Great potential for horse property. $1,190,000 MLS/ID:1774495
4600 OLD NC 86 HIGHWAY-HILLSBOROUGH Amazing custom farmhouse on 35 acres. Large views, salt water pool, established gardens. Possible equestrian opportunity. $1,995,000 MLS/ID:1778608
7 LITTLEWOOD LANE-HOPE VALLEY Premier 4 bedroom residence with carriage house on 4.6 private acres. Beautifully renovated. $2,350,000 MLS/ID:1777031
2825 CHELSEA CIRCLE-HOPE VALLEY This historical home has been renovated with attention to detail. Overlooking golf course. $2,500,000 MLS/ID:1746390
3430 DOVER ROAD-HOPE VALLEY Magnificent 6 bedrooms+ residence on 2.5 woodland acres. Walled terrace with heated pool. Everything your heart could desire!! $2,850,000 MLS/ID:1775709
5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707
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The Last Word Real estate statistics are tricky to follow these days, especially when compared to 2010 numbers when the federal “tax credit” was racing toward its July finish line.
What we have just experi-
enced during the first quarter of this year is more positive than it appears statistically. Here are the silver linings.
• Housing affordability has improved for everyone, although it is at the expense of sellers who saw their average sales price drop a little more.
• The number of homes on the market has also dropped as well as the number of listings added each month. A smaller supply strengthens demand and will give some relief to sellers.
Cell: (919) 612-3221 • The average number of months a home stays on the market has dropped a month which is another plus.
• Interest rates continue to be the lowest they have been in recent memory, and therefore a great time to buy property.
• Another positive is that there are glimmers of activity in the market above the $400,000 range. High end real estate has been suffering i n silence for several years
A big change in the numbers should show up this summer when 2011 months will no longer be compared to the first 6 months of
Cell: (919) 475-8000
2010 when tax credits are no longer distorting the comparisons.
Today, every buyer needs to be educated Peak Swirles & Cavallito Properties brokers are here to help! Our job is to understand your vision and match you with properties that meet today’s needs and tomorrow’s goals.
Inside the pages of each issue, you’ll find some of our most compelling listings – from homes for first time home buyers to executive properties. You’ll have access to the specialized expertise of our team members who will share their knowledge through articles on a spectrum of topics ranging from financing options to green building, to i n v e s t m e n t opportunities and more.
Cell: (919) 357-6678
Plus, through our internet portal of www.pscp.com, you’ll find EVERY listing in the 16-county wide Triangle Multiple Listing Service, gain information about the Triangle community and learn about opportunities in the real estate market. In addition, you can use Market Snapshot, a powerful tool that will provide current statistics about your neighborhood, or those that you would like to explore, including number of days on the market, listing price related to sale price, active and sold homes. It’s a great way to follow the market trends as they develop!
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New Real Estate Figures Triangle MLS Releases May 2011 Real Estate Figures RALEIGH, N.C. - The Triangle Multiple Listing Service (TMLS) reports the following information pertaining to the housing industry in the greater Triangle region during May of 2011. The data shown below reflects information on properties located in the 16 county area of the greater Triangle region. Sales continue to increase on a monthly basis with May sales reflecting the trend of sales increases each spring with sales up 2 percent over April. Yet, May sales are down 27 percent from the previous year which continues to reflect the impact of Federal Tax Credits that were in place for the first three quarters of last year. Sales year-to-date for 2011 are on average at the same level experienced in 1999, 2001 and 2002. Average sales prices for the region were up 2 percent from the previous month and ahead of the same time period last year by .5 percent. In addition, the median sales prices increased by 4 percent over the previous month with an increase of 2 percent over the previous year. This trend is better than the national average. The Housing Affordability Index for May continues to remain at the near record level of 178, which is an increase of 4.3 percent over last year and a positive indicator for housing affordability. This index measures housing affordability for the region. An index of 120 means the median household income was 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. Pending sales for May were 1,997, which is the number of homes under contract. This is up 21 percent over May of 2010 and is a positive indicator for upcoming sales in June. The current supply of all housing within our system is 11.9 months based on May closings, up 19 percent from last year. For the nation as a whole, the National Association of REALTORS® reports that the home ownership rate has shifted from 69.0 percent in 2005 to 66.5 percent so far in 2011. While that’s not a tectonic shift, here’s what other indicators reveal since that first fateful month after the 2010 tax credit. The Median Sales Price increased 1.8 percent to $189,900. Days on Market increased 26.4 percent to 126 days. The rate of inventory absorption slowed as Months Supply of Inventory was up 19.9 percent to 11.9 months. Affordability also improved. Nationally, the interest rate dropped to 4.88 percent on a 30-year fixed conventional while the unemployment rate crept up to 9.1 percent in May. The economy added 54,000 jobs, which was far less than April and insufficient to curb unemployment. As recovery goes, so goes positive trends. Several metrics should continue to show favorable movement, but stronger job growth is needed to fuel housing demand and reinforce consumer confidence. Data provided by Triangle Multiple Listing Service, Inc. Powered by 10K Research and Marketing. 15
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We deliver great results to our neighbors.
happy We are seasoned real estate brokers with extensive knowledge of the Triangle home market and the areas convenient to Duke, UNC-Chapel Hill, and the Research Triangle Park.
satisfied The measure of our success is our expanding network of satisfied clients who recommend us to their families, friends, and colleagues.
clients www.pscp.com
PEAK SWIRLES & CAVALLITO PROPERTIES t 919.4 1 9 .1234 f 919.4 1 9 .1102 www.pscp.com
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5102 Durham- Ch. Hill Blvd. 5102 DurhamChapel Blvd. 5102 Durham-Chapel Hill Blvd., Hill Suite 100Durham, Durham,NC NC27707 27707 Durham, NC 27707