Today, the President signed historic legislation to spur growth in the housing sector. An important part of legislation is a tax credit for first time home buyers. Under the new law, beginning April 9, 2008 (yes this is retroactive!), first time home buyers to get up to a $7,500 tax credit from the purchase of a single family home, townhome, or condo.
A fist time home buyer is..(read more)
North Carolina will have a new live entertainment theater like no other. This venue is specifically designed to present the biggest shows on tour. The Durham Performing Arts Center (DPAC) puts you close to the stage, with no seat further than 135 feet. The DPAC will feature world-class performers, spacious seating, state-of-the-art sound and lighting and convenient parking. ..(read more)
Nine New Businesses Slated to Open Downtown
Downtown Chapel Hill is set to welcome nine new businesses to downtown. Everything from a gourmet burger place called “Buns” to “Sugarland Bakery”, downtown Chapel Hill will have quite a menu for restaurant goers. Beyond eateries, “Glee Kids”, a children’s clothing boutique, and Jernigan-Wicker Fine Arts &..(read more)
Parking a Key Concern in Carrboro Development
In a January 22 public hearing, the Carrboro Board of Aldermen considered a proposal for the development of a five-story project called Roberson Square. Roberson Square would include more than 91,000 square feet of residential and commercial property at 203 South Greensboro Street across from Open Eye Café. At the hearing, a number of residents..(read more)
UNC, Duke 2007 Endowment Growth Rank High
According to the National Association of College and University Business Officers, UNC-Chapel Hill grew its endowment by 32.1 percent in 2007, while Duke's endowment grew by 31.4 percent. UNC was second only to the University of Notre Dame among the 76 North American schools with billion-dollar endowments. The results reflect the total amount of money..(read more)
Plans for Buckhorn Village, a 120-acre retail development at the Buckhorn Road flea market site, will be presented at a County Commissioners public hearing on February 25. This is likely to be the only public hearing for the project, which calls for around 1,000,000 square feet of retail development. If everything goes according to plan and the project is approved, this would be the largest project..(read more)
As plans for Carolina North continue, University leaders spoke before the Chapel Hill Town Council about the importance of the Innovation Center to ensuring UNC’s activity in the global economy. The Innovation Center would be the first building built on the Carolina North property and would serve as a place to turn research into commercial products. At a January Town Council public hearing,..(read more)
Orange County Commissioners decided to put on the May 6th primary ballot adding a 0.4% transfer tax that sellers would pay on the sale of property in Orange County. This tax would be in addition to the 0.2% tax that sellers already pay when they sell their homes.
This decision was made despite overwhelming opposition to the imposition of another tax on property...(read more)
In the Fall 2008, Chapel Hill will open its 10 elementary school. This school is on the north side of town on Eubanks Road. It is located on the other side of Lake Hogan Farms. In December, the school board selected Morris Grove Elementary as the name for this school. Morris Grove was the name of an earlier school that stood on a site adjacent to that of Elementary #10. ..(read more)
What is going on in the job market?
The rate of growth in the combined MSA for Raleigh/Cary/Durham has slowed down. There were 0.49% more employed workers in 12/07 vs. 12/06. The rate of growth between these years was 5%.
What is happening with Average Prices?
The average list price is $452,100, an increase of 7% compared to the average at the end of 2006. ..(read more)
