Cary, North Carolina.  Long overdue apartments for Crossroads.  The Ohio firm Goldberg Cos. has purchased 18 acres in Crossroads.  They plan to build a 344 unit apartment complex.  It will be the shopping centers first residential complex.  Companies have found offices in the area very attractive because of its proximity to major highways, the airport and Research Triangle Park.  Have apartments in Crossroads will be very attractive to those who would not only like to work and shop in the area but live there as well.

Open note to Mr. Bernanke:  Bricks and stones are of more substance than paper.  You may not like it that the public sees it that way but what is - is!  If you can’t figure this out then get real about real estate.  Your lack of understanding about the real estate industry is doing a lot of damage to a lot of people that need not have happened.

John Fish (919) 696-3474   Email: Marvmax@mindspring.com   Website: www.JohnFish.com

Cary, North Carolina.  The Triangle has done very well throughout the downturn in the U.S. housing market.  None-the-less, both local and national builders have felt the bite of higher interest rates and problems in the mortgage market.  However, one subdivision for national builder KB homes has exceeded expectations.  Twin Lakes, a Martha Stewart - KB Homes project in Cary has been selling at a rate of about 25 homes per month while the 11 other KB communities in the Triangle have been selling at a rate of 6 to 10 homes per month.  Twin Lakes was announced in October of 2005 and in short order had a waiting list of about 800 names.  Prices range from $218,990 to $359,990.  Since construction started in March of 2006 some 350 homes have been sold of the 767 planned for it.  There are also townhomes in Twin Lakes.  Their price range is $148,900 to $167,990.  American MetroStudy tracks tracks construction starts in 1,709 communities  Their figures indicate that Twin Lakes is the fifth best selling subdivision of that entire number. 

A second Martha Stewart/KB Homes development called Wynbrooke will begin construction in Raleigh by September of this year.  The price range will be somewhat higher than in Twin Lakes.  Its range will be from $378,990 to $491,990.

John Fish  (919) 696-3474   Email: Marvmax@mindspring.com   Website:  www.JohnFish.com

Cary, North Carolina.  California money continues to move South.  The Weston Lakeside Apartment complex in Cary was sold last week to a group headed by American Realty Advisors of Glendale, California.  They paid $45 million for the 332 unit complex which works out to $135,542 per unit. 

John Fish (919) 696-3474   Email: marvmax@mindspring.com   Website: www.JohnFish.com 

Cary Luxury Homes Subdivision.   Creedmoor Partners has yet another subdivision of luxury homes underway.  It is called Renaissance at Regency and is next to Symphony Lake off of Ederlee Drive.  The subdivision will have three sections:  The Estate Homes, The Manor Homes and the Cottage Homes.  There are 34 one-half to one acre sites that range in price from $275,000 to $415,000.  There have already been 13 presales.  The building team is comprised of Rufty Homes, Inc.  SilverCrest Homes, LLC, Ted Keith Builder, Inc., Dixon/Kirby & Company, Inc., Bost Custom Homes, Ange Construction Co., Nearson Custom Homes and Properties, Inc., 1st American Builders, Bluestone Builders, LLC, Sundance Signature Homes, Huntley Design Build, Inc. and Thomas Gipson Homes, Inc.  The minimum size homes in the part of the subdivision is 5,000 square feet and price will start at $1.5 million.  The Manor Homes will offer 65 lots of one-third to one-half acre and homes will be priced from the $900,000s.  Lot prices will range from $180,000 to $330,000.  The builder team will consist of KJ Construction, Mangum Design-Build, Inc., Southern Elegant Homes, Inc., Upright Builders, Inc., J.T. Sullivan Custom Builders, Inc., Taylor Custom Homes of N.C., Inc., Timberline Builders, SilverCrest Homes, LLC, Huntley Design Build, Inc., Ted Keith Builder, Inc., Poythress Homes, Inc.   The Cottage Homes section is designed for Maintenance-free living.  Connected by a gatehouse leading to a private garden area, these homes will be built by Premiere Homes, Inc. There are 114 home sites and prices for these homes will start at $690,000.  The location is truly superior.

For more information please feel free to call or email me at any time.

John Fish (919) 696-3474   Email: marvmax@mindspring.com   Website: www.JohnFish.com  

Cary, North Carolina.  The Triangle’s first five star hotel (of size) is due to open in Cary within the next ten days.  It’s the result of the dedication and drive of Ann Goodnight, the wife of SAS co-founder Jim Goodnight.  The $80 million hotel will be called the UMSTEAD.  Standard room rates will, for openers, be from $295 to $350 per night until April and then increase to $350 to $425 per night.  Suites start in the low $400s.  The 1,700 square foot Presidential suite will set you back a cool $2,200 per night. 

The Umstead will offer a 14,000 square foot spa, 10,000 square feet of meeting space, a 6,000 square foot rear lawn for weddings and other open air events and a three acre pond.  South American Anegre wood panels the interior walls and art works by North Carolina artists will line the corridor outside of the meeting rooms.  Guests may bring their pets.  An outdoor elevator will handle guest luggage.  No eye clutter here.

John Fish (919) 696-3474     Email: marvmax@mindspring.com   Website:  www.JohnFish.com

I am late in offering congratulations to Anson Dorance and the University of North Carolina women’s soccer team on winning their 18th national college cup championship!  Dick Vitale compared it with the number of championships won by college and pro teams in other sports and none of the others are even close. Worldwide soccer has the largest fan following of any sport but unfortunately, for a team that has accomplished what the UNC women’s soccer team has accomplished, fan support for soccer in the U.S. it is still far behind the big three - basketball, football and baseball and therefore it doesn’t get the TV or ink coverage those sports get.  However, interest in soccer in the U.S. is certainly on the rise due to the large number of youth soccer teams throughout the country and because of the success the U.S. women’s teams have enjoyed in the Olympics.  All of which brings me to soccer in the Triangle area.

Cary, North Carolina is working hard to become known as the soccer capital of the U.S.  Cary’s SAS stadium has certainly given that goal a major boost.  It hosted the women’s soccer college cup in 2003, 2004 and this year and the men’s cup in 2005.  It will be the scene of the men’s tournament again in 2007.  While the women’s “final four” was being played out in SAS Stadium more than 200 high school soccer teams from all across the US competed at soccer fields througout the area.  Also, 500 soccer coaches from all over the U.S. were here to see the games and the areas facilities.  CARY NORTH CAROLINA - SOCCER CAPITAL.  UNC WOMEN’S TEAM SOCCER CHAMPIONS.  Both of those have a good ring to them and may they both enjoy even greater success.

John Fish (919) 696-3474    email: marvmax@mindspring.com   Website: www.JohnFish.com

Cary, North Carolina.  If you could do without “fret and frown and you shop for your crown” (Victoria that is) in North Carolina’s summer heat, you might want to wend your way to Crossroad Ford’s huge new indoor showroom in Cary. Crossroads Ford is one of Fords top ten dealerships nationally.

Crossroads claims their three acres of air conditioned automotive delights is the largest indoor showroom on the east coast.  You could get out your tape measure and challenge their claim or just go see the 350 cars the showroom houses and enjoy.  At a cost of $5.5 million I would say they have earned the right to make about any claim for it they want.  The showroom has playrooms for children and, since the cars in inside, they are all unlocked to make it easier for you to get in, out and around them. 

John Fish (919) 696-3474   Email: marvmax@mindspring.com   Website: www.JohnFish.com