peak swirles volume 1 issue 6a

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DURHAM & CHAPEL HILL, NC Featuring Properties in Durham, Orange, Chatham, Wake and Alamance Counties Peak Swirles Cavallito PROPERTIES & BRINGING YOUR FAMILY HOME BRINGING YOUR FAMILY HOME TM TM See page 13 for this Forest Hills Beauty - 408 E Forest Hills Boulevard Search available Triangle properties online at www.pscp.com Volume 1 Issue 6A

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Peak Swirles & Cavallito is one of the leading Real Estate Firms of the Triangle, serving Durham, Orange, Wake and Alamance Counties

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Page 1: Peak Swirles Volume 1 Issue 6A

DURHAM & CHAPEL HILL, NCFeaturing Properties in Durham, Orange, Chatham, Wake and Alamance Counties

PeakSwirlesCavallito

P R O P E R T I E S&

BRINGING YOUR FAMILY HOMEBRINGING YOUR FAMILY HOME TMTM

See page 13 for this Forest Hills Beauty - 408 E Forest Hills Boulevard

Search available Triangle properties online at

www.pscp.com

Volume 1 Issue 6A

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Page 2: Peak Swirles Volume 1 Issue 6A

Bob JamiesonCell (910) [email protected]

How’s the market?At a cookout, in the grocery line or at the

soccer f ie ld, someone trying to makeconversation will invariably ask, “How’sthe market?” A good response is, “It dependswhere you live.” Actually the correct answer ismore complex than that, and it’s alwayschanging, but where you live is a good place tobegin. The Triangle market is strong whencompared to many other regions of the country,but anemic when compared to the bubble years.Raleigh, Chapel Hill and Durham each havetheir own markets conditions and within each ofthem there are hundreds of micro-markets thatdiffer due to location, price range and age ofthe structures. The strongest market has beenwhat I call the “shelter” properties composed ofprimary residences and investment propertiesup to the $400,000 range. The upper or“lifestyle” market has been much slower in spiteof generous discounts by motivated sellers.Some buyers believe that they can get morevalue by just considering properties in fore-closure or short sales, not realizing that allproperties should be priced in relation to themost recent sales in their neighborhoods,foreclosures or not.

There are other mini-markets such asneighborhoods near universities, medicalcenters, high achieving school districts, andcertain downtown areas that are holding theirvalue better than others. If you are a buyer, thisis the ideal time with prices just beginning totick upward and interest rates still unbelievablylow. If you are a seller, you can only controlwhat goes on inside your property lines soput your property in tip top condition, stageto attract the buyer’s eye, and price aggressivelyright out of the box. Navigating this marketis challenging even for professionals, sochoose your agent wisely. Let our knowledgebe your edge.

PeakSwirlesCavallito

P R O P E R T I E S&

BROKER’S BRIEFBROKER’S BRIEF

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Page 3: Peak Swirles Volume 1 Issue 6A

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

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PEAK SWIRLES & C AVALLITO PROPERTIES

1027 ROSEDALE AVENUE-LYONS PARKGreat home for investor or first time homebuyer. Close to Duke. $69,000MLS/ID:1783565

107 LONG SHADOW PLACE-WOODCROFTBeautifully maintained townhome in quietneighborhood. New AC, roof, deck andupdated light fixtures. $119,900MLS/ID:1766102

704 MARTIN LUTHER KING JR, BLVD#D13-MILL CREEK Great Chapel Hill loca-tion! 2 bedrooms each with private bath.Community pool. Walk to Franklin Street.#138,500 MLS/ID:1791082

2 APPLEWOOD SQUARE-WOODCROFT Onestory very cute 2 bedroom, 2 bath town-home with great light. Huge great roomwith fireplace. Large master. $125,000MLS/ID:1778292

2515 CHAPEL HILL ROAD-LAKEWOODDelightful 1942 cottage. 2 main floor bed-rooms. Separate dining room. Garage.Great location. $149,900 MLS/ID:1751257

3314 LASSITER STREET-LASSITERRecently painted 3 bedroom, 2 1/2 bathhome. Backyard completely fenced. Greatlocation near Duke, UNC and RTP. $165,000MLS/ID:1781956

404 W CORNWALLIS ROAD - ROCKWOODLike new! Built in 2007, beautifully main-tained. Hardwoods in formal areas. Masters u i t e o n m a i n f l o o r . $ 1 7 9 , 0 0 0MLS/ID:1782806

226 WAXHAW DRIVE-NORTHERN DURHAMLovely 2100 SF brick home on 1 acre lot.Beautiful hardwood floors and master bed-room on main level. $194,000MLS/ID:1775002

100 MORGANS CORNER RUN-PARKVILLAGE Great transitional home in neigh-borhood with tremendous amenities. Easyaccess to shopping and Davis Drive Park.$190,000 MLS/ID:1779515

220 ELIZABETH STREET, UNIT D2-VILLAGEGREEN Condo with large bedrooms andclosets. Remodeled kitchen with new cabi-nets. Upgraded windows and doors. Greatlocation. $119,000 MLS/ID:1781996

93 FOREST OAKS DRIVE-FOREST OAKS Hardto find one level end unit townhome only 5minutes to Duke. Freshly painted, new woodfloors. $129,500 MLS/ID:1789406

7 HOMESTEAD COURT-HOPE VALLEYFARMS Pristine transitional. New laminate,carpet, paint and much more. Private flatyard. Great sunny interior. $190,000MLS/ID:1785746

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Page 4: Peak Swirles Volume 1 Issue 6A

www.pscp.comyour dream home is just a click away. . .

check out our site’s great features!

Ability to search every listing in the entire 16 county area ofthe multiple listing service

Saved searches and immediate updates to let you know when a new listing comes on the market

Multiple beautiful colorphotos for each listing

Visual tours of properties, when available

Detailed informationincluding price, roomdimensions, and specialfeatures

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

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Page 5: Peak Swirles Volume 1 Issue 6A

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

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PEAK SWIRLES & C AVALLITO PROPERTIES

2822 PICKETT ROAD #143-PICKETT PARKFabulous townhome close to Duke. Openfloor plan with lots of light. Hardwoodfloors and fireplace with gas logs. $190,000MLS/ID:1777299

175 MONTROSE DRIVE-DUNBARTON Movein Ready!! Completely renovated in 2004.First floor master. Living room has fireplacea n d b o o k s h e l v e s . $ 2 1 4 , 0 0 0MLS/ID:1758902

15 S CIRCLE DRIVE-DOGWOOD ACRESRenovated ranch. New roof, plumbing,HVAC, windows, kitchen and baths.Community garden. A must see. $219,900MLS/ID:1787759

108 MONTROSE DRIVE - DUNBARTON Chicmid century design for urban dweller. 3 bed-room, 3 baths with fireplace plus garage.$214,000 MLS/ID:1725866

5417 FORTUNES RIDGE-WOODCROFTGREAT style. Ready for your buyer. Newgranite and tile in kitchen. Neutral carpet andpaint. Large backyard and deck. $225,000MLS/ID: 1784810

400 W KNOX STREET -DUKE PARKUpdated/vintage 1950 brick ranch in greatlocation. Site finished hardwoods. Too manyn e w u p d a t e s t o l i s t ! ! $ 2 2 5 , 0 0 0MLS/ID:1783861

2701 OLD SUGAR ROAD-111 SEABOARDTucked away on a cul de sac with 5 bed-room, 3 1/2 baths. Freshly painted, carpetscleaned. $230,000 MLS/ID:1775133

209 WHITNEY LANE-AUBURN Lovely interi-or with open floor plan. Spacious rooms forentertaining. Hardwoods on first floor.H u g e m a s t e r s u i t e . $ 2 6 9 , 5 0 0MLS/ID:1778293

18 INNISFREE DRIVE-INNISFREE Great endunit brick townhome. Cherry cabinets andbutler pantry in kitchen. Gas fireplace. Newdeck . P r i v a t e cou r t y a r d . $235 , 000MLS/ID:1783228

3200 STANFORD DRIVE-UNIVERSITYESTATES Comfortable and well cared forhome on a large nicely landscaped lot. Fullyfenced backyard with lovely deck. $194,000MLS/ID:1779386

3201 STANFORD DRIVE-UNIVERSITYESTATES Wonderful immaculate home withtraditional floor plan on quiet cul de sac.9’ ceilings, crown molding. Lovely landscap-ing. $215,000 MLS/ID:1784435

3200 TWIN STREAMS ROAD-TWINSTREAMS 3 bedroom, 3 bath. 2 1/2 acres,Lower level apartment and large garageworkshop. $254,900 MLS/ID:1755435

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Page 6: Peak Swirles Volume 1 Issue 6A

Durham is Tony’s home, and always has been. He grewup in the southern area of the city and is finding it reallyexciting to see what’s happening here now, especiallydowntown. He always had an interest in real estate andtook the broker licensing class just after graduating fromElon College in 1977 and bought his first “fixer-upper”shortly after that. After watching one too many episodesof This Old House, Tony started his own painting and car-pentry business. From that point onward, his interest inreal estate grew from renovating personal investment togoing into real estate full time in 1995 and helping othersfind both a home that they love as well as a valuableasset for their portfolio.Our business is challenging, especially now, but it’s very

rewarding as well. Tony really enjoys helping people finda home they love and one that brings value to their livesas well. His background has been an asset in helping hisclients achieve that goal. Give Tony a call today so he cantalk about your real estate goals!

Tony MatthewsCell: (919) [email protected]

Julian CultonCell: (919) 740-3333

[email protected]

Adam DickinsonCell: (919) 452-3751

[email protected]

Liz DeanCell: (919) 451-3696

[email protected]

Laurie JahnkeCell: (919) 614-4805

[email protected]

Liz GunselmanCell: (919) 225-4966

[email protected]

Bob JamiesonCell: (910) 232-1893

[email protected]

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Page 7: Peak Swirles Volume 1 Issue 6A

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

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PEAK SWIRLES & C AVALLITO PROPERTIES

111 BLUEFIELD ROAD-PICKARD OAKS Endunit with a two story open floor plan that isfilled with natural light. Downstairs bed-room. Private deck. $269,900MLS/ID:1769546

117 TRAWICK PLACE-HEATHER GLENTraditional brick 2 story home on beautiful1+ acre. Family room with built ins. Frenchdoors to terraced deck. $299,999MLS/ID:1783003

2515 LANIER PLACE-DUKE FORESTSpacious Tudor-style home on a large lot.Freshly painted inside and out. All new car-pet. Close to Duke. $325,000MLS/ID:1773770

1107 PARK GLEN PLACE-GRANDALEPLACE Sunny, immaculate and beautifullyupgraded! Pretty 4 bedroom plus bonusroom and deck. $300,000 MLS/ID:1747880

805 HERMITAGE COURT-FOREST HILLSLovely 3 bedroom 2 1/2 bath in great loca-tion. Beautiful yard. Garage. Close to Duke,downtown, everything!! $350,000

4205 FOREST EDGE TRAIL-HOPE CREEKWonderful home with an open floor plan in aterrific neighborhood. Rocking chair frontporch and screened back porch overlooksfenced backyard. $355,000 MLS/ID:1771296

433 NEW PARKSIDE DRIVE-PARKSIDEGreat location and loorplan. Fully fencedbackyard. Vaulted family room. Lovelymaster suite on main level. $365,000MLS/ID:1780252

WELDON DOWNS Southwest Durham’s pre-miere townhome community. All brick exte-riors, hardwoods. Garages and courtyards.Priced from $384,900

4117 COBSCOOK DRIVE-MARYDELLESTATE Beautiful, well maintained brickhome on gorgeous landscaped lot. Newpaint throughout, new granite counters. 4bedrooms, 2 1/2 baths. $399,000MLS/ID:1768928

3946 NOTTAWAY ROAD-HOPE VALLEYWonderful opportunity for large lot in HopeValley. (Can buy adjacent lots for a total of 3acres). $295,000 MLS/ID:1677181

7407 LEAPALE LANE-OAKHURST Showslike a model! Too many updates/upgradesto list. Exterior painted in 2011. Hardwoodsthroughout. $317,900 MLS/ID:1787155

1010 URBAN AVENUE-TRINITY PARKDiamond in the rough!! Potentially fabuloushome filled with historic details. Over 3600SF on first 2 floors. $400,000MLS/ID:1789403

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Page 8: Peak Swirles Volume 1 Issue 6A

PeakSwirlesCavallito

P R O P E R T I E S&

www.pscp.com 919.419.1234

PEAK SWIRLES & CAVALLITO PROPERTIES

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Page 9: Peak Swirles Volume 1 Issue 6A

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

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.

www.pscp.com 919.419.1234

PEAK SWIRLES & CAVALLITO PROPERTIES

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Page 10: Peak Swirles Volume 1 Issue 6A

How does a sweet southern girl with a business degree from theUniversity of South Carolina end up “hawking” residential real estateand have some of her proudest moments doing it? To Jane, it’s allabout real family values.Family considerations were also at the forefront when Jane decidedto become a REALTOR in 1983. When she got her license in the mid-eighties it was a transformational time for Durham real estate. Peoplerelocating to the Triangle area were called “wingtips.” At the sametime, Duke was emerging as one of the premier medical facilities inthe world. No one refers to relocating folks as “wingtips” anymore,and now we are delighted to have them join our community. Thosefolks came from all over the world and brought energy and enthusi-asm to our community. They turned a town built around tobacco intoone 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 withher partners to found Peak, Swirles and Cavallito Properties. WhenJane decided to pick up her career again in 2003, she was welcomedwith open arms. “I wouldn’t have considered anyplace else. I respectthat they’ve built an independent organization of true professionals.I’m a little bit old fashioned that way,” she admits, “They attractclients that demand low key representation, personal service andabsolute integrity and discretion. That’s the way I prefer to work.“Having a flexible schedule is still important to me, but that flexibilityenables me to work with my clients to help them find just the rightproperty that represents their family and their values. I love being inDurham and working with my clients.” Give Jane a call to talk toher about how you can find just the right home for your family!

Jane PhillipsCell: (919) [email protected]

Marcia KessingerCell: (919) 730-3351

[email protected]

Jenny MacKayCell: (919) 619-8149

[email protected]

Katie JoyceCell: (919) 619-0144

[email protected]

Anne SanfordCell: (919) 819-9312

[email protected]

DJ ManiaceCell: (919) 616-2010

[email protected]

Doug NelsonCell: (919) 246-0325

[email protected]

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Page 11: Peak Swirles Volume 1 Issue 6A

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

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PEAK SWIRLES & C AVALLITO PROPERTIES

3720 ST MARKS ROAD-HOPE VALLEY Greathome with charming courtyard. Beautiful kitchenopens to great room with vaulted ceilings. Hugedeck. Carport with large storage closet. $409,000MLS/ID: 1784318

2740 SPENCER STREET-DUKE FOREST Spaciousinteriors with gleaming oak floors, new carpet 3fireplaces! Contemporary pizzazz. $509,000MLS/ID:1718944

4215 CHAMPAIGN DRIVE-NEW HOPE VALLEY 4bedroom, 3 1/2 bath brick transitional. Kitchenopens to family and sun room. Gorgeous pool.$575,000 MLS/ID:1737131

3506 WESTOVER ROAD-HOPE VALLEY Classicone level home on Hope Valley Golf Course.Large rooms and flexible spaces. Large bed-rooms. Great location. $529,000MLS/ID:1778684

3900 HOPE VALLEY ROAD-HOPE VALLEY Oasison 1.4 acres. Immaculate, open traditional withhigh ceilings. Gorgeous upscale kitchen.$575,000 MLS/ID:1775569

3804 NOTTAWAY ROAD-HOPE VALLEYRemodeled transitional home on a one acre cor-ner lot with very attractive landscaping.$579,000 MLS/ID:1767343

2718 ARTHUR MINNIS-HILLSBOROUGH Stonefrom the mountains of NC frame this lovely tudor.6 acres of gated privacy 10 minutes from ChapelHill. $599,000 MLS/ID:1775731

3812 DUNSINANE DRIVE-NEW HOPE VALLEYGreat home for entertaining. Huge family roomoverlooks backyard with cooking area and patios.$650,000 MLS/ID:1783431

8932 SHIPWATCH DRIVE -SHIPWATCH/WILMINGTON, NC Perfect familyretreat, just 2 hours from Triangle. Unbelievablewater views. Hardwood and tile floors. $600,000MLS/ID:1784222

3938 WESTCHESTER ROAD-NEW HOPE VALLEYClassic 2 story traditional. Beautiful hardwoodson first floor. Kitchen has been updated andnewly painted. $420,000 MLS/ID:1790808

2420 JONQUIL TRAIL-MEBANE Great opportuni-ty for equestrian! Cape Cod with 2 masters.Huge family room. Porches, patios and deckoverlook pond. $560,000 MLS/ID:1782691

3307 SURREY ROAD-HOPE VALLEY Private,quiet elevated .77 acre site with view of 7th and8th fairways. Traditional design. Shows like amodel. $620,000 MLS/ID:1790606

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Michele has always possessed a passion for real estate. A NorthCarolina native, she grew up in the Charlotte area where her parentsbought and sold investment properties for as long as she can remem-ber, so you could say ‘it’s in her blood’. "Choosing a home is one ofthe most important and personal decisions a person ever makes,"explains Michele. "And I am so honored each time a client selects meto guide them through that process!" Whether she is assisting ahome buyer in the purchase of their dream home, or helping a sellermove on to a new chapter of their life, Michele is passionate abouthelping people realize their dreams. More than ten years of experi-ence practicing real estate in the Triangle has given Michele thefinesse and knowledge necessary to offer the utmost in professionalguidance, as well as, the wisdom to navigate the personal and some-times stressful nuances of a real estate transaction.

A graduate of Southern Wesleyan University, Michele has calledDurham home since 1996. Raising a family of four children inDurham has given her unique insight into the needs and priorities ofTriangle residents. When you’re ready to make a real estate decision,call Michele!

Laura UpchurchCell: (919) 612-2266

[email protected]

Angela SarvisCell: (919) 621-4755

[email protected]

Mary WibleCell: (919) 815-6628

[email protected]

Debbie WhiteCell: (919) 740-6970

[email protected]

Peter WinklerCell: (919) 360-1285

[email protected]

Michele WrightCell: (919) [email protected]

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Page 13: Peak Swirles Volume 1 Issue 6A

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

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PEAK SWIRLES & C AVALLITO PROPERTIES

3301 SERENITY LANE-HILLSBOROUGH 20+acre horse farm with 6 stall barn and ridingarena. All brick one level Cape Cod home.$650,000 MLS/ID:1755530

601 QUAIL ROOST FARM ROAD-HORSECOUNTRY Horse lover’s dream. 3 board fencing,run in shelters, riding ring and trails galore.Home is energy efficient. $700,000MLS/ID:1786593

105 WINDING RIDGE-COLVARD FARMS StatelyEuropean home that will delight you upon entry.Master bedroom on main floor. $874,900MLS/ID:1748588

912 ANDERSON STREET-DUKE FORESTSouthern Colonial Revival near Duke exudes clas-sic charm and southern hospitality. Versatilefloor plan. $745,000 MLS/ID:1787811

519 HOOPER LANE-HISTORIC DISTRICTCharming vintage home with beautiful land-scaped yard in the heart of Chapel Hill. Cypresssiding, new HVAC. $1,000,000 MLS/ID:1777536

8118 FARRINGTON MILL ROAD-HORSECOUNTRY Exceptional home that is virtuallybrand new with incredible detailing at every turn.Great potential for horse property. $1,190,000MLS/ID:1774495

4600 OLD NC 86 HIGHWAY-HILLSBOROUGHAmazing custom farmhouse on 35 acres. Largeviews, salt water pool, established gardens.Possible equestrian opportunity. $1,995,000MLS/ID:1778608

3430 DOVER ROAD-HOPE VALLEY Magnificent6 bedrooms+ residence on 2.5 woodland acres.Walled terrace with heated pool. Everything yourheart could desire!! $2,850,000 MLS/ID:1775709

7 LITTLEWOOD LANE-HOPE VALLEY Premier 4bedroom residence with carriage house on 4.6private acres. Beautifully renovated. $2,350,000MLS/ID:1777031

408 E FOREST HILLS BOULEVARD-FORESTHILLS Exceptional property overlooking park.Gracious rooms open to stone patio for wonder-ful outdoor entertaining. $695,000MLS/ID:1789441

3722 HIGH MEADOW DRIVE-WINDY HILLElegant 5 bedroom, 5 bath brick home with 3 cargarage on one acre between Durham and ChapelHill. $765,000 MLS/ID:1752516

2825 CHELSEA CIRCLE-HOPE VALLEY This his-torical home has been renovated with attention todetail. Overlooking golf course. $2,500,000MLS/ID:1746390

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Page 14: Peak Swirles Volume 1 Issue 6A

Rea l e s t a t e s t a t i s t i c s a r e t r i c k y t o f o l l ow t he s e day s , e spe c i a l l ywhen compared to 2010 numbe r s when t he f ede ra l “ t ax c r ed i t ”was rac ing toward i t s Ju ly f in i sh l ine . What we have jus t exper i -enced dur ing the f i r s t quar te r o f th i s year i s more pos i t i ve than i tappears s ta t i s t i ca l l y . Here are the s i l ver l in ings .

• Hous ing af fordabi l i t y has improved for everyone, a l though i t i sa t the expense of se l l e r s who saw the i r average sa les pr ice drop al i t t l e more .

• The number of homes on the marke t has a l so dropped as we l l ast h e n u m b e r o f l i s t i n g s a d d e d e a c h m o n t h . A s m a l l e r s u p p l ys t reng thens demand and wi l l g ive some re l ie f to se l l e r s .

• The average number of months a home s tays on the marke t hasdropped a month which i s ano ther p lus .

• 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 marketabove the $400,000 range. High end real estate has been suffering ins i l ence for severa l years

A b ig change in the number s shou ld show up th i s summer when2011 months wi l l no longer be compared to the f i r s t 6 months o f2010 when tax cred i t s are no longer d i s tor t ing the compar i sons .

Today, every buyer needs to be educa ted Peak Swir les & Cava l l i toProper t ies brokers are here to he lp! Our job i s to unders tand yourv i s ion and match you wi th proper t ies tha t mee t today’s needs andtomorrow’s goa l s .

Inside the pages of each issue, you’l l f ind some of our most compellinglistings – from homes for first t ime home buyers to executive properties.You’l l have access to the special ized expert ise of our team memberswho wi l l share the i r knowledge through ar t i c les on a spec t rum oftopics ranging from financing options to green building, to inves tmen toppor tun i t i es and more.

P l u s , t h r o ugh ou r i n t e r n e t po r t a l o f www .p s cp . c om , you ’ l l f i n dEV E RY l i s t i n g i n t h e 16 - c o u n t y w i d e T r i a n g l e Mu l t i p l e L i s t i n gServ ice , ga in in format ion abou t the Tr iang le communi ty and learnabou t oppor tun i t i es in the rea l es ta te marke t . In addi t ion , you canuse Marke t Snapsho t , a power fu l too l tha t wi l l p rov ide curren t s ta -t i s t i c s abou t your ne ighborhood , o r those tha t you wou ld l i ke toe xp l o r e , i n c l ud i ng numbe r o f day s on t h e ma r k e t , l i s t i n g p r i c ere la ted to sa le pr i ce , ac t i ve and so ld homes . I t ’ s a grea t way tofo l low the marke t t rends as they deve lop!

Cel l : (919) 612-3221

Cel l : (919) 475-8000

Cel l : (919) 357-6678

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The Last Word

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Page 15: Peak Swirles Volume 1 Issue 6A

Triangle MLS Releases May 2011 Real Estate Figures

RALEIGH, N.C. - The Triangle Multiple Listing Service (TMLS) reports the following information per-taining to the housing industry in the greater Triangle region during May of 2011. The data shownbelow 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 increaseseach spring with sales up 2 percent over April. Yet, May sales are down 27 percent from the previousyear which continues to reflect the impact of Federal Tax Credits that were in place for the first threequarters of last year. Sales year-to-date for 2011 are on average at the same level experienced in1999, 2001 and 2002.

Average sales prices for the region were up 2 percent from the previous month and ahead of thesame time period last year by .5 percent. In addition, the median sales prices increased by 4 percentover the previous month with an increase of 2 percent over the previous year. This trend is better thanthe national average.

The Housing Affordability Index for May continues to remain atthe near record level of 178, which is an increase of 4.3 percentover last year and a positive indicator for housing affordability.This index measures housing affordability for the region. Anindex of 120 means the median household income was 120percent of what is necessary to qualify for the median-pricedhome under prevailing interest rates. A higher number meansgreater affordability.

Pending sales for May were 1,997, which is the number ofhomes under contract. This is up 21 percent over May of 2010 and is a positive indicator for upcom-ing sales in June. The current supply of all housing within our system is 11.9 months based on Mayclosings, up 19 percent from last year.

For the nation as a whole, the National Association of REALTORS® reports that the home ownershiprate has shifted from 69.0 percent in 2005 to 66.5 percent so far in 2011. While that’s not a tectonicshift, 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 to126 days. The rate of inventory absorption slowed as Months Supply of Inventory was up 19.9 per-cent to 11.9 months. Affordability also improved. Nationally, the inter-est rate dropped to 4.88 percent on a 30-year fixed conventional whilethe unemployment rate crept up to 9.1 percent in May. The economyadded 54,000 jobs, which was far less than April and insufficient to curbunemployment. As recovery goes, so goes positive trends. Several met-rics should continue to show favorable movement, but stronger jobgrowth is needed to fuel housing demand and reinforce consumer con-fidence.

Data provided by Triangle Multiple Listing Service, Inc. Powered by 10K Research and Marketing.

New Real Estate Figures

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Page 16: Peak Swirles Volume 1 Issue 6A

www.pscp.comt 919.419.1234f 919.419.11025102 Durham-Ch.Hill Blvd.

Durham, NC 27707

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.

happy

PEAK SWIRLES & CAVALLITO PROPERTIES

www.pscp.com 919.419.1234

5102 Durham-Chapel Hill Blvd. Durham, NC 27707

We deliver great results to our neighbors.

The measure of our success is our

expanding network of satisfied clients

who recommend us to their families,

friends, and colleagues.

clients

satisfied

5102 Durham-Chapel Hill Blvd., Suite 100 Durham, NC 27707

happy

88862.1.6.016:0800 7/20/11 8:55 AM Page 1