Raleigh, North Carolina.  Oxford Development Files For 123 Room Hyatt Hotel.  The location for the hotel is a 5.8 acre tract at Trinity and Nowell roads.  That location is about a half mile from the RBC Center.  The hotel will provide free breakfasts for guests, a 1,100 square-foot meeting room, fitness room, dining room, swimming pool, and 24-hour market.  The Pittsburgh development company claims it’s the largest private real estate service company in Pennsylvania. 

While a great deal of office space and apartments are being planned and built in the RBC Center area, all of the activities of the Center have created a demand for far more hotel space near it than is currently available.  This hotel should help fill some of that demand.

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

Holly Springs, North Carolina.   Jack Nicklaus Course Is First Of Amenities To Be Offered At 12 Oaks.  The ribbon cutting event was attended by John Meyers, president of Wakefield Development Company and Steve Sandler, president of L.M. Sadler & Sons, Inc. the parent company of Wakefield Development Company.  The 7219 yard Nicklaus designed course is a ClubCorp golf course.  In the Fall of 2009 an antebellum style clubhouse will open.  It will feature a ballroom, formal dining room, grill and pro shop.

12 Oaks covers 687 acres and will have some 1,300 single family homes and townhomes.  The development features colonial, Greek and Southern Antebellum Revival Victorian architecture.  Another feature at 12 Oaks will by a Sports and Aquatic Center containing fitness facilities, tennis court, pro shop, family and competition pools and children’s playground.

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

Raleigh, North Carolina.  WRAL Concept Home Benefits WakeMed Children Services.  The home is by Mark Davis and is located in north Raleigh’s Rose Hall subdivision at 11321 Royal Amber Way.  The home has many sponsors beside WRAL.  The tankless hot water system is by Rinnai.  The hardwood flooring is by Dynamic Floor Supply.  The cabinets are by 1st Choice Cabinets.  The interior furnishings and accessories have been provided by Nashville Furniture.  Garner TV & Appliance provided the appliances.  The courtertops were supplied by Design Surfaces.  The stairway was provided by Southern Staircase.  There are other sponsors as well.  When the home sells Mark Davis will be donating a portion of the proceeds.  There is no charge to view the home but donations would be appreciated and will, as mentioned, be going to WakeMed Children’s Services.  The home was open this past week-end and will be open again on Apirl 11, 12, and 13.  Showing times are 12-5 on Friday and Saturday and 1-5 on Sunday. 

The home is a european design of three stories.  It is 7651 finished square feet  in size and is situated on a 1.2 acre lot. The above grade finished square footage is 5075 while the below grade finished square footage is 2576.  The kitchen features a full Viking stainless steel appliance package.  The lower level features a marvelous home theatre.  The home’s exterior is a mixture of brick, stone and shake.  Interior ceilings are 10 ft. and 9 ft.   There are four bedrooms and 5 1/2 baths.  The main level entry hall is 11×22.  The living room is 14×13, the dining room is 14 x 18, the Family room is 16 x 19, the kitchen is 16 x 18, the breakfast area is 10 x 16, the sun room is 11 x 12, the master bedroom is 21 x 16 and the utility room is 11.6 x 7.  On the second level there bedrooms of 14.6 x 14, 15 x 13 and 17.6 x 13.  The main level deck is 32.6 x 13.  There is also a main level screened porch that is 15 x 16. The second floor bonus room ia 19.8 x 19.  The lower level has a game room that is 26 x 15, a rec room of 18 x 18 and a workout area that is 17 x 15.  It also has storage of 24 x 11, and a patio that is 47.6 x 13.6.  There is a 21 x 38 3-car garage.  Fuel is natural gas as is the water heater. 

For enjoyable home viewing and to benefit a very worthwhile charity please plan to view the home this coming week-end.

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

Old World Style On Durant Road - Falls Preserve displays the combined talents of developer/builder Johnny Woody, builder Lonnie Smith, and designer Margot DeBarmore.  Anyone wishing to build his, her or their dream home can utilize the talents of this team to bring that dream to reality.  Woody’s concept for the setting of the homes is that of a small French country village but one that includes city amenities.  There will be a common area with a pond, fountain, benches and a lush area for just relaxing and enjoying nature. 

Falls Preserve has 15 lots.  Many have unique shapes.  While you can have your plan designed and built there are also spec homes you can select from.  There are currently four homes under various stages of construction.  To give you an idea of what you can expect to find, the home under construction at 1901 Old Preserve Court is priced at $1,325,000.  It is on a lot 0.78 of an acre in size and will have 5790 square feet of finished space above grade.  Below grade there will be 2000 square feet.  Part of it will be finished and the rest you can have finished any way you want it.  The home will have a brick, fibre cement, stone and shake exterior, screened porch, 3 car garage and a sprinkler system.  There will be 4 bedrooms and 5 1/2 baths.  On the main floor you will find the Living Room (17.5×15.9), Library (17.5×15.4), Dining Room (16.4×12.4), two story Family Room (18.4×16), Kitchen (26.11×12), Breakfast area (14.11×10), Hearth Room (16.1×14.6), and Master Bedroom with trey ceiling (17×16.5).  The kitchen has granite counter tops, a six burner gas Viking Range and Viking Frig and Convection Oven. The second floor Bonus Room is 20.8×16.10 and the three bedrooms are 15×12, 14×12.3 and 15.2×12.1  The partially finished lower level has a second kitchen, Media Room and Wine Cellar.  There is also a tankless water heater.

The location is outstanding as well since it is very close to a major medical facility, excellent shopping and I-540.  To see Falls Preserve go north on Falls of Neuse and turn left on Durant Road.  Falls Preserve will be on your left.  If you would like to look at the homes that are under construction or look at the remaining lots call me and I will be happy to arrange a showing for you.

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

Triangle, North Carolina.  Existing Home Sales Down Eighth Straight Month.  February existing home sales in Wake, Durham, Orange and Johnston counties totaled 1,590.  That’s a decline of 16 percent vs. a year ago.  While that is considerably better than January’s 29.6 percent drop future indicators don’t indicate that things will get much better anytime soon.  Pending sales were down 23 percent, withdrawn listings increased 29 percent, average days on market rose to 96 days vs. 83 days and unsold inventory of homes is up 27.2 pecent; all figures vs. the previous year.  The unsold inventory figure is equal to a 10 month supply.  Another figure that is not pleasant is that residential building permits were down 34 percent from January-February of last year in Wake county.  While that will help reduce the inventory of homes the market will have to wade through in the future it certainly hurts builders and all the people and trades who depend on them. 

Of course the factors behind these declines are slowing job growth and foreclosures both nationally and locally as well as the problems of the credit markets.  Existing home sales in the Triangle are down 22 percent from the peak quarter in 2006.  BY comparison Las Vegas and Miami are down 65 percent while Sacremento is down 58 percent.  However, home prices, at least for the time being, continue to increase in the Triangle.  The average existing home price increased 3.1% in February to $244,363. 

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

Raleigh, North Carolina.  More Growth At Brier Creek.  American Asset Corp. of Charlotte received city approval for a 10 story building in Brier Creek Corporate Center.  They are the developer of that very successful center.  The building will have 300,000 square feet and construction is to start this summer.  The company’s 128,000 square foot building, Brier Creek III, will be totally occupied by Qualcomm.  That recent deal will allow them to break ground on a 121,000 square foot building, Brier Creek VI, without having any signed prospects.  The vacancy rate at American Asset’s Brier Creek buildings is only 7 percent.  Apparently, the real estate saying of - “location, location, location” is alive and very well at Brier Creek.

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