Real Estate News
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home design dedicated to showcasing the triangle’s distinctive homes
“It’s all about that maintenance-free lifestyle. You no longer have the upkeep of the exterior, so you can come and go as you please. ” – Angie Cole, A Cole Realty
Carefree condos Live easy in a premier Triangle condominium - story on page 4
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ALLEN TATE IS TOP REAL ESTATE FIRM IN THE CAROLINAS, 8TH IN THE COUNTRY Allen Tate Companies continues to hold the top position on the list of residential real estate firms based in the Carolinas and remains a dominant player nationally, ranking in the Top 10 of independent real estate firms nationwide. According REAL Trends 500, Allen Tate Companies is the Carolinas’ top real estate company based on closed transaction sides. Allen Tate ranked eighth among the country’s largest, independently-owned, non-franchised brokers, and 14th among the nation’s Top 500 brokers, based on closed transaction sides. The rankings are based on the real estate firm’s 21,190 closed transaction sides in 2018. REAL Trends is an independently verified annual ranking of the nation’s top 500 residential real estate brokerage firms by transaction sides and sales volume for the previous year. Allen Tate has offices in the Charlotte, Triad, Triangle and Upstate South Carolina regions. In early 2019, Allen Tate completed a partnership with Howard Hanna Real Estate Services, the third largest real estate company in the United States and the top privatelyowned broker in the nation. Visit allentate.com or howardhanna.com for more information.
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2019 Features Calendar 7 14 21 28
APR I L Fuquay Varina/Willow Spring Golf Communities Wake Forest Travel Feature
7 14 21 28
JULY Morrisville Brier Creek Senior Living Travel Feature
6 13 20 27
OC TOBER North Raleigh Estates Midtown Completely Custom Travel Feature
3 10 17 24
FEBRUARY Downtown Raleigh Cameron Village Chapel Hill / Carborro Design Feature
MARCH
3 10 17 24 31
Cary Downtown Durham Living Knightdale / Wendell Pittsboro/Moncure/Jordan Lake Travel Feature
5 12 19 26
MAY The Condo Issue Historic Oakwood Garner / Clayton Travel Feature
2 9 16 23 30
JUNE The Pool Issue Apex Apartment Home Living Roof Top/Outdoor Spaces Travel Feature
4 11 18 25
AUGUST Luxury Homes Equestrian Communities Chapel Hill / Carborro Travel Feature
1 8 15 22 29
SEP TEMBER Green Living Zebulon Northern Durham Five Points Travel Feature
3 10 17 24
NOVEMBER Apartment Home Living Clayton American Tobacco Road District Travel Feature
1 8 15 22 29
DECEMBER Holiday Decorating Condos & Townhomes Renovations Real Estate Top Producers Travel Feature
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|living in Condo living DID YOU KNOW? The Cotton Mill Condos in downtown Raleigh were built in 1890 as a textile-processing mill. It wasn’t until 1996 that this character-rich building was converted into 50 unique condominiums.
EAT
Cameron Village Just a five-minute walk from the new luxury 904 Oberlin, this unique shopping center has nearly 20 restaurants—perfect for any craving. shopcameronvillage.com
PLAY
Fred Fletcher Park Located on more than 21 acres inside the beltline, this popular park is a great spot to escape the hustle and bustle with its beautifully landscaped grounds, walking trails, sports fields and courts, playground, wetlands area, gardens and amphitheater. raleighnc.gov
EXPLORE
Downtown Raleigh Saturated in history, culture and charm, spend the day exploring Raleigh’s five distinct downtown districts—Fayetteville Street, Capital District, Moore Square, Glenwood Stout and Warehouse District—for a taste of the city’s vibrant core. visitraleigh.com
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byJulie Cooper
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ondominium living is all about the hassle-free, turnkey lifestyle. Erected in areas close to all the excitement and decked out in luxury and amenities, Raleigh-area condos attract buyers across the spectrum. “This hassle-free lifestyle appeals to all ages, from millennials to ‘right sizers,’” says Tiffany Clark with Hodge & Kittrell Sotheby’s International Realty. “Condo living is unique in that it offers homes with little upkeep. People who choose to live in them value home ownership with a lock-and-leave sensibility.” Whether traveling for work, to see the grandkids or vacationing for a month in the Mediterranean, homebuyers like the peace of mind that comes with condo ownership. “Everything is taken care of when they’re gone,” says Angie Cole with A Cole Realty. “It’s all about that maintenance-free lifestyle. You no longer have the upkeep of the exterior, so you can come and go as you please. And, many of the buildings offer secure parking and entrances.” Beyond what condo homeownership affords them with when they leave, many Raleigh-area buyers love the convenience these dwellings offer in regular day-to-day life. “First and foremost, buyers are attracted to our very vibrant city,” says Clark. “Raleigh offers an evolved
cultural scene, award-winning restaurants, renowned healthcare, various sports opportunities and a desirable climate all nearby to the Research Triangle Park and a nice airport. Buyers love our condominiums for their well-planned living spaces and walkability. It’s easy to walk out the front door and grab a cup of coffee or try out a new restaurant for dinner.” On the other hand, living in a condo also means never having to leave. “While location is number one, amenities are also helpful in attracting homebuyers,” says Cole. “It’s typical for condominiums to offer a gym, pool and a common area. Some even have grilling decks where neighbors and friends can hang out for a casual barbecue. Condos really offer a built-in community that buyers find appealing.” Located in highly sought-after areas around the Triangle, condominiums also offer folks the opportunity to live in a great neighborhood at a fraction of the cost. “Most of the condos are in high-rise buildings in prime locations between shopping and restaurants,” says Cole. “Many homebuyers are drawn to condo ownership because they are more affordable than single-family homes while still giving them the location they desire.”
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Areas like Raleigh’s vibrant downtown, Glenwood South, Five Points, Cameron Village and Fred Fletcher Park are in high demand with condo buyers. “The most sought-after condos in the Raleigh market are close to pockets of commerce,” says Clark. “This includes The Plaza, Founder’s Row, Brier Creek Country Club Condos, Paramount, 222 Glenwood and North Shore, amongst others. Each building offers something unique.” For those looking for new and shiny, the Raleigh area has that too. “We have several new developments popping up in Cameron Village and downtown Raleigh,” says Cole. “People are really excited about The Fairweather, The Wade and 904 Oberlin.” As more and more folks are drawn to the excitement and convenience of condo living, the market continues to get stronger. “We’ve really seen an uptick in sales and prices,” says Cole. “Downtown Raleigh and North Hills continue to appreciate, as do the condos in these areas. I project many more condo buildings will pop up around town, as it’s less expensive to build vertical than horizontal because land is so expensive. They’re simply a great way for builders to get the highest return in the least amount of land space.”
living in Condo living |
525 S West Street, #506, Raleigh, NC 27601 Price: $1,017,000 MLS: 2211502 Listing Agent: Cecilia Zuvic, Monarch Realty Co., 919-210-5571, c.zuvic@monarchrealty.co
2701 Glenwood Gardens Lane, #305, Raleigh, NC 27608 Price: $899,900 MLS: 2215285 Listing Agent: J. Michael Jackson, Hodge & Kittrell Sotheby’s International Realty, 919-876-7411, michael.jackson@hodgekittrellsir.com
Introducing the last remaining, two-story penthouse home at The Fairweather. Modern and open layout with three bedrooms and three full baths, 20-foot ceilings in living areas, 36-inch gas range, two private/covered balconies with retractable glass walls. Upgrades include custom walnut cabinetry, marble tiles and Viking appliances. Storage lockers and assigned parking also available. Walkable to everything downtown has to offer.
Penthouse perfection in this three-bedroom condo with 10-foot ceilings, hardwood and granite floors, three fireplaces, custom closets and plantation shutters. Flexible floor plan features master with sitting room/office and his-and-hers bathrooms and walk-in closets. Or use the other side of the condo as a master suite with a huge walk-in closet (previously a bedroom). Storage room also on third floor, and three garage parking spaces convey.
2813 Market Bridge Lane, Unit 203, Raleigh, NC 27608 Price: $689,500 MLS: 2219680 Listing Agent: Clark Smith, Hodge & Kittrell Sotheby’s International Realty, 919-971-3662, clark.smith@hodgekittrellsir.com
213 E Franklin Street, Unit 101, Chapel Hill, NC 27514 Price: $499,900 MLS: 2245178 Listing Agent: Diann Worrell, Hodge & Kittrell Sotheby’s International Realty, 919-619-2248, diann.worrell@hodgekittrellsir.com
Experience luxury condo living at its best at The Gardens on Glenwood. Second-floor unit has desirable Elkhorn floor plan, as well as a large porch overlooking the pool. Two reserved parking spaces and an adjacent storage unit in the lower-level garage. Enjoy secure, low-maintenance living minutes from downtown Raleigh. Walk across pedestrian bridge for coffee shop, upscale dining or groceries. Pool and fitness center on site.
This condo in McCorkle Place balances historic living with main street surroundings. Within walking distance to locally-owned restaurants, one-of-a-kind shops and UNC Chapel Hill. Features include high-end finishes, hardwood floors, open concept living and dining areas, gas fireplace, large windows and chef’s kitchen. Master includes walk-in closet and bath with marble on floors and vanity. 213 East Franklin Street is an iconic address originally constructed in 1937 and skillfully redesigned to include eight upscale residences.
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|living in Condo living 317 W Morgan Street 508, Raleigh, NC 27601 Price: $480,000 MLS: 2249455 Listing Agent: Anthony Greco, Hodge & Kittrell Sotheby’s International Realty, 919749-0744, anthony.greco@hodgekittrellsir. com This top-floor, two-bed, two-bath condo in the middle of Raleigh has hardwoods throughout. Walkable to the warehouse district, CAM, Hillsborough Street, Glenwood South and Fayetteville St., plus new developments planned nearby. The south-facing home gets great natural light and has views of the PNC and Dillon towers. Owners installed California closets and several upgrades during construction. Partially covered parking.
1110 Blenheim Drive, Raleigh, NC 27612 Price: $330,000 MLS: 2250935 Listing Agent: Tiffany Clark and Anna Ball Hodge, Hodge & Kittrell Sotheby’s International Realty, 252-813-0446, tiffany. clark@hodgekittrellsir.com Location, location, location. Sought-after Blenheim Place condo now available for purchase. These condos are in convenient and beautiful setting and rarely come on the market. This two-story home has terrific floor plan with two bedrooms, 2.5 bathrooms, plus dining and living rooms. With a bit of attention, this home could be a real gem. Condo being sold as is.
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living in Condo living | 9211 Calabria Drive, Unit 117, Raleigh, NC 27617 Price: $310,000 MLS: 2249045 Listing Agent: Angie Cole, A Cole Realty, 919-538-6477, angie@acolerealty.com This adorable condo has a one-car garage, flex/bonus room and a full bath on the lower level. Crown molding, stained maple cabinets, granite countertops and recessed lighting. Powder and laundry rooms off kitchen. Entire level has hardwoods laid on the diagonal. Three bedrooms on third level, including master with walk-in closet and bath with large tile surround walk-in shower with bench. Two balconies. Public pool, fire pit and fitness center.
7900 Falcon Rest Circle, Raleigh, NC 27615 Price: $185,000 MLS: 2241655 Listing Agent: Angie Cole, A Cole Realty, 919-538-6477, angie@acolerealty.com End-unit condo on nicely wooded and private corner lot. Ceilings are 8 feet on both levels. Laminate wood-looking floors on main level. Solid surface countertops, maple cabinets, adorable window seat, glass tile backsplash and pantry in kitchen. Large walk-in closet master. Laundry closet. Floating staircase. Master and two additional bedrooms. Back patio with storage closet.
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|design instyle
The Colorado drum coffee table with geometric designs plays with nature’s petal form / fourhands.com
Hide away
Update your outdoor living space by Vicki Payne
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his is the time of year to address our outdoor living spaces and their furnishings. Power washing and restaining are great solutions for decks, patios and terraces, but some hardscapes and furniture need to be replaced and updated. Just like the interior, outdoor space styles and trends change over the years. If you’re still embracing the same patio
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decor and layout five to 10 summers later, I encourage you to consider some of the exciting new styles and changes available for your outdoor experiences. Cement and faux cement products are very popular materials used to create all types of outdoor furnishings. The Cyrus round dining table—a strikingly simple, poly-resin top de-
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Wire-formed dining chairs and the Cyrus faux cement table create a lowprofile seating area in a charming interior courtyard / fourhands.com
rived from river sand—is polished to a smooth sheen. The angled, matte black iron base adds architectural appeal. Concrete adopts to alluring shapes. The Colorado drum coffee table is decorated with geometric designs that play with nature’s petal form. A hollowed drum of dark grey concrete is intricately etched for artistic intrigue. And, it’s safe indoors or out. Don’t make everything match—it’s boring. This is the opportunity to introduce some new materials into your setting. Concrete mixes beautifully with wicker, iron or any other materials that comprise your outdoor furniture. Gray is still a very popular designer color. Instead of sticking with plain black or white outdoor furniture, consider purchasing pieces in gray or repainting sturdy iron furniture a soft gray shade.
Teak furniture is a classic. Most are familiar with the traditional honeytoned wood finish on new teak furniture. It takes two to four years for it to fade to that beautiful ashy gray patina. Today, teak is available pre-finished in that much-cherished gray hue. The Sherwood outdoor chairs from Four Hands is made from modern materials. Weathered grey teak forms a linear frame for UV-resistant and water-repellent sunproof fabric in an inviting charcoal. Rope-wrapped armrests and rear-cotton weaving add a textured finishing touch. Pairing gray teak products with bleached wicker ottomans and stainless steel side tables creates a modern, refreshing space for enjoying the outdoors. For larger spaces, consider the Mina bistro table. Its modern-industrial styling features a glimmering SPECIAL ADVERTISING SECTION . THE NEWS & OBSERVER . SUNDAY, MAY 5, 2019
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Sherwood outdoor chairs made from modern materials. Weathered gray teak forms a linear frame for UV-resistant and water-repellent Sunproof fabric / fourhands.com
The Marquis outdoor chair is a playful twist on classic rattan / fourhands.com
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sheen for outdoor dining areas. Solid aluminum is finished in raw antique nickel for a visually-arresting takeaway with natural character—a stylized spin on the classic pedestal shape. Outdoor furniture doesn’t need to look bulky and overbearing, especially on small patios or gardens. Look for low profile chairs and smaller tables to help lighten the look. Traditional materials are used in exciting new designs. My favorite outdoor bench is the Zander by Four Hands. Its aged bronze-finished aluminum forms a fluid, cage-like bench for a forward-thinking look indoors or out. It’s surprisingly comfortable and sturdy. The open weave allows it to look less bulky than a traditional wooden bench. The Marquis outdoor chair is a playful twist on classic rattan. The open, rust-treated iron weave lends
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an airy-yet-substantial feel to a sunburst-shaped occasional chair that’s comfortable in any environment, indoors or out. The Sunbrella fabric cushion is durable, easy to clean and UV resistant. So many inspirational options to choose from this summer season. Evaluate your outdoor spaces and rethink their use. Hopefully you can find a small porch, graveled area or grassy corner where you can create an intimate, cozy spot to hide away this summer.
Vicki Payne Donatelli is an interior designer, project coordinator and popular speaker for renovation and new construction projects. She is the host of the national PBS series “For Your Home.” Visit her blog at ForYourHome.com.
straight talk|
Asking price In general, homes are selling above asking price—but what does that mean? by Allen Norwood
L
ast year in Charlotte, nearly a quarter of homes that sold went for more than the listing price, according to online home giant Zillow. A year earlier, in 2017, the same was true. In Raleigh, the figures were even higher: One-third of the homes sold in 2018 sold for above their asking price. “This is at least the sixth straight year the share of homes sold above asking has increased in Raleigh,” says Alex Lacter, communications specialist with Zillow. Those tidbits help paint more complete pictures of markets—but they might not mean exactly what they seem to the untrained eye. The statistics, for instance, don’t mean that every home that sold for more than listing price was the object of a bidding war. Plenty of Charlotte sellers did fieldcompeting offers, according to Brenda Hayden, president of the Charlotte Regional Realtor Association. “In the
Charlotte market, under $300,000 you’re most likely going to be in multiple offers.” But there are also other reasons why the sale price might be higher than the asking price. For instance, buyers often ask sellers to pay some or all of the closing costs. If the seller agrees, that additional money might get added to the original listing price of the house, raising the closing price. Say a house might have been listed at $150,000 and sold for $155,000 with no bidding war. “We see that a lot, especially in the lower price points,” says Hayden, who’s with Keller Williams SouthPark. “We’re talking about first-time home buyers asking for help.” When there are competing offers, it’s because of basic supply and demand, say Hayden and Allen Tate’s Tom Gongaware. Agents aren’t setting prices artificially low, maybe even lower than the owner
would sell for, to try to incite bidding wars. I’ve written about that tactic over the years. It might be tempting in some super-hot markets—nearly two-thirds of homes in San Jose, California, sold above listing last year—but it’s controversial and isn’t common in Charlotte or the Triangle. “Quite honestly, it would be a huge gamble,” Hayden says. “I don’t know any realtors who advise clients to do that.” Agents work to price appropriately, she says. Multiple offers are the result of lots of demand and little inventory, especially in certain price ranges. That’s also true in Raleigh, says Gongaware, who’s general manager of the Allen Tate Companies, which has offices in the Triangle. Tate trains agents to price correctly, he says. “Statistics support that listings priced properly will sell for a higher percentage of that original list price (and,
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yes, sometimes exceeding it), and in fewer days on the market.” The Triangle market has only a 2.3-month supply of inventory, well below demand, he says. “But it’s not a strategy to ‘price low,’ it’s Economics 101 at work.” More observations about that Zillow report, for an even more complete picture: – The share of homes sold above asking price was 23.5 percent nationally for all of 2018, the same as Charlotte. – The share has actually been declining, and hit a two-year monthly low in December. – Homes that sold for more than asking price last year typically brought in $6,830 more, down from $7,000 the year before. Allen Norwood: homeinfo@charater.net
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