Durham, North Carolina.  Colvard Farms Developer At It Again.  Neal Hunter, who developed Colvard Farms, co-founded Cree and is now CEO of LED Lighting Fixtures, is set to develop another major project.  He owned the property in question and sold it to the two men who will now co-develop it with him, Alex Mitchell and Tyler Morris.

The site is off of N.C. 751 between Stagecoach Road and the Chatham County line.  The project calls for 500,000 square feet of commercial space, 1,200 to 1,300 residences, a YMCA, fire station, elementary schoo and civic building.  The Colvard Farms site that Hunter developed is only a mile from this property so you would have to say that he knows the area and what it can handle.  However, the property will have to get rezoing approval and there are environmental concerns by residents in the area.  As the project is designed to be environmentally friendly Neal should be able to handle those objections.

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

Triangle, North Carolina.  A very strong job market and affordable housing have been hallmarks of the Triangle for many years.  Government figures show that during the first quarter of 2007 that story remains essentially the same.  Nationally, homes appreciated 4.24% during the first quarter vs. 12.6% a year earlier.  Raleigh-Cary home appreciation came in at +6.42% (number 76 on the list) while Durham home appreciation came in at +7.07% (number 67 on the list). Both are increase over last year.  Some areas are still experiencing powerhouse numbers.  Number one on the government’s list is Wenatchee, Washington at a sizzling +25.60% rate. On the other side of the ledger, the number one city for annualized depreciation is Punta Gorda, Florida at -4.57%.  The five year appreciation rate for Durham is +27.01 while the Raleigh-Cary five year appreciation rate is +23.16%.

As reported in this blog many times, the two items that make and continue to make the Triangle so attractive are the demand for high quality jobs in the technology and medical fields and the availability of of undeveloped land to keep home prices affordable. 

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

Durham, North Carolina Homes - Colvard Farms provides interested buyers with a great deal to choose from.  There are currently 26 Multiple Listing Service Colvard Farms listings.  Colvard Farms is in Durham on Rt. 751 just two miles south of the intersection of  Rt. 751 and I-40.  That intersection is also the location of the huge Streets of Southport shopping mall.  Colvard Farms works well for people working in Research Triangle Park as from home to one’s Park office ranges roughly from 4 to 9 miles.  The current listing range in price from $599,500 to $2,899,000.  Of these homes, 15 are new and complete (or nearly so), 7 are under construction and 4 are resales.  Sizes range from 2934 sq.ft. to 8819 sq. ft.  Lots sizes range from 1/4 ac to about 1 ac with a majority being one half acre or slightly more.  Of these homes 16 have 5 bedrooms and 3 have 6 bedrooms.  14 have 4 full bathrooms, 6 have 5 full bathrooms and 1 has 6 full bathrooms.  Two homes have basements and 22 have 3 car garages.  Since there is a wide variety of home styles and types to choose from it is possible to view a lot of homes in a relatively concentrated area, in a relatively short period of time and be reasonably certain of finding a home that will fit one’s needs and desires. 

If you would like information on any of these homes and if you would like a tour of the area and some of these fine homes call me at (919) 696-3474 or send me an email at marvmax@mindspring.com.

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