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Bull City Real Estate

Real Estate in Durham with Sidetrips to Chapel Hill and elsewhere in the Triangle

Posts Tagged ‘Durham’

* Wal-Mart Makes a Move in Durham

Tuesday, December 14th, 2010

Triangle Business Journal reported today that Wal-Mart is about to resume expanding its local presence. While Wal-Mart did not build a new store locally in 2010, plans have been announced for three stores — two in Raleigh, and one in Durham.

The Durham location announced is at the intersection of S. Roxboro Road and Martin Luther King Jr. Blvd. That store will be about 109,000 square feet and will have just about everything, including extended grocery selections, a deli section, a meats department and a pharmacy. The only departments missing will be an outdoor center and a tire/lube shop.

With the new store set to open in fall 2011, and the existing Kroger shopping center, the S. Roxboro/MLK intersection is set to be one of the most heavily traveled in south Durham. Add to that the elementary school planned for that intersection [currently scheduled for 2017] and you could have the makings of a real traffic mess.

Another question left unanswered is what will happen to the rumored plans to build a Wal-Mart in the Kentington Heights area just south of Southpoint. While it is certainly possible Wal-Mart could build both, having three stores within 4 miles of each other is probably a bit much even for Wal-Mart. We will certainly see how this develops in the coming months.

[Thanks to Bull City Rising for the initial notice]

* Durham, Raleigh, Chapel Hill – What’s the Difference?

Saturday, November 27th, 2010

Recently, I was working with someone moving to the Triangle who asked me “How would you describe the three cities of the Triangle? And why do you prefer Durham to Chapel Hill and Raleigh?” It’s a good question, as each city has a different personality and character. Here is what I told her.

First of all, Raleigh is our “big city.” It is the largest city of the Triangle in the largest county in the area. It has just about everything, both good and bad, that a big city has — professional sports teams, several major concert/event venues, “good” and “bad” parts of town and so on. Raleigh also tends to compare itself to other larger cities (usually Charlotte), before looking at the other parts of the Triangle.

Chapel Hill, on the other hand, is the quintessential college town. It is much smaller than Raleigh or Durham [Chapel Hill is a quarter the size of Durham, and a sixth the size of Raleigh], and University of North Carolina is by far the town’s major employer. Much of the character of Chapel Hill is defined by the University and it’s student body.

Durham is the happy medium of those two extremes. It has a college town area, just like  Chapel Hill (except with a darker shade of blue). It has many of the features of a small town, such as a vibrant Farmers Market and strong annual city-wide festivals. Plus, it have many of the features of a larger city, including a first class performing arts center and a professional sports team.

So, in many ways, the Triangle is like the beds in Goldilocks’ story. Raleigh is big, Chapel Hill is small, and Durham is just right.

[Although what really makes the Triangle special, in my opinion, is that the big city, the mid-sized city and the college town usually work together to solve common problems. Sometimes that doesn't happen in more traditional city & suburb areas]

Photo credits: Doug Kerr, Ildar Sagdejev

* It’s October – Time for BBQ!

Friday, October 8th, 2010

October in the Triangle means many things — temperatures start to come down, leaves start to turn and Christmas decorations start to come out in local stores. October also means it’s time for the Parkwood Volunteer Fire Department Barbeque. The 31st Annual Barbeque will be this Saturday, October 9 from noon until 7PM. After 30 years of practice, the firemen have this down to a science with good BBQ and speedy service. Plates are $7 each [$4 for children] and can either be eaten at the station or taken elsewhere. If you do stay at the station, several pieces of fire and rescue equipment will be available for display and touring.

This year’s event will also be spiced up by the 1st Annual Barbeque Cookoff Competition! Bring your cookers out and see if you can match up to the VFD’s high standards!

This is one of the major fundraisers for the department, so it’s good food, good fun, and for a good cause. Hopefully you will stop by for lunch or dinner!

* The 2010 Parade of Homes – Same As It Ever Was?

Thursday, October 7th, 2010

As you can imagine, the Parade of Homes is a big thing in the real estate world. Last year, I took a look at homes offered in the Wake County Parade and asked “Where are all the starter homes?” Now that we are in the middle of the 2010 Parade, it’s worth taking another look at the distribution of Parade homes.

Here is the Wake County numbers for the 2009 Parade and this year’s

By Count By Percent
Wake 2009 Wake 2010 Wake 2009 Wake 2010
$100,000 to $150,000 4 3 3% 2%
$150,000 to $200,000 10 19 6% 10%
$200,000 to $300,000 38 54 24% 29%
$300,000 to $400,000 30 53 19% 28%
$400,000 to $500,000 29 24 18% 13%
$500,000 to $600,000 8 11 5% 6%
$600,000 to $700,000 11 6 7% 3%
$700,000 to $800,000 9 7 6% 4%
$800,000 to $900,000 3 7 2% 4%
$900,000 to $1,000,000 9 2 6% 1%
more than $1,000,000 7 2 4% 1%
Total 158 188

First of all, it is worth noting that there is a 20% increase in the number of homes in the 2010 Parade. The second thing to notice is that there are fewer homes at the high end of the market – last year a quarter of the homes on the Parade were over $700,000, this year it is half that. Those homes all ended up in the $150,000 to $400,000 range this year, which saw an increase from 49% to 70%. While those aren’t exactly starter homes, it does show the movement away from McMansions and towards the market that most people can actually afford.

I can hear some of you now – “That’s interesting, Steve, but what do the numbers look like for our side of the Triangle?” Glad you asked.

By Count By Percent
Wake 2009 Wake 2010 Durham Wake 2009 Wake 2010 Durham
$100,000 to $150,000 4 3 1 3% 2% 2%
$150,000 to $200,000 10 19 6 6% 10% 14%
$200,000 to $300,000 38 54 11 24% 29% 26%
$300,000 to $400,000 30 53 5 19% 28% 12%
$400,000 to $500,000 29 24 8 18% 13% 19%
$500,000 to $600,000 8 11 3 5% 6% 7%
$600,000 to $700,000 11 6 2 7% 3% 5%
$700,000 to $800,000 9 7 2 6% 4% 5%
$800,000 to $900,000 3 7 1 2% 4% 2%
$900,000 to $1,000,000 9 2 1 6% 1% 2%
more than $1,000,000 7 2 2 4% 1% 5%
Total 158 188 42

The price distributions in Durham [by which I mean Durham, Orange and Chatham counties] pretty closely follows the pattern set by our eastern brethren. It’s easier to see in a graph

So there is a trend, however small, away from the mansion and McMansion properties towards home that are a bit more affordable. While I would like to see that continue with a little more effort towards marketing homes in the $150,00 area, it is a welcome sign.

* Why You Can Never Have Too Many Books

Wednesday, September 29th, 2010

You can never have too many books because the library still has some left. You can, however, work on that some this weekend as the Friends of the Durham Library has their semi-annual sale. The Book sale is a great opportunity to pick up some new books at great prices. The sale is held at the Main Branch library at 300 North Roxboro Street and here is the schedule for this year;

  • Friday, October 1, 4 – 7 p.m. Friends members only—join at the door!
  • Saturday, October 2, 10 a.m. – 5 p.m. Everyone welcome.
  • Sunday, October 3, 2 – 5 p.m. Everyone welcome. $7 Bag Sale.

Good books, good prices and a great cause. Hope to see you there this weekend!

* Lifestyles of the Triangle’s Rich and Famous

Tuesday, September 28th, 2010

3801 Hope Valley Rd - Currently listed at $450,000

OK, I can’t talk about their lifestyles, but I can talk about their real estate . . . .

The Triangle Business Journal reminded us last week that they keep a database of all Wake/Durham/Orange County home sales of over $350,000. If you like to follow the sales of high-end [and not quite high-end] home in the Triangle, this is a great resource.

Oh, if you’re curious — the largest sale in Durham County was a home in the Carramore development, which was sold to Kevin and Jane White back in March for $1,400,500.

Here’s the page with the Home Search Window.

* Is Your Durham Intersection Dangerous?

Tuesday, August 31st, 2010

Last Friday, the Triangle Business Journal published a list of the Triangle’s ‘Most Dangerous Intersections.’ It’s a pretty handy list if you want to know what intersections to avoid while you are out and about. The worst intersection? Fayetteville Road and I-40, which sees almost one crash per week.

If you factor out the high-volume roads in south Durham, however, you discover that most [almost all] of the accident prone intersections are in north Durham — most along the I-85 corridor. That, I suspect, shows just how much that area needed redevelopment.

If you’re a graphical person, Bull City Rising has a great map of the 20 most dangerous Durham intersections.

* International Flavor Comes to Westgate Plaza

Sunday, August 22nd, 2010

Westgate Plaza has struggled for several years. Applebees closed their restaurant there in 2005, Circuit City closed their Durham locations in early 2009 as part of their bankruptcy proceedings. Earlier this year, Ashley Furniture closed their store leaving Toys R Us as the only anchor tenant in a mostly empty plaza.

This week, things may be turning around. Sue Stock reported in Friday’s News & Observer that an international grocery store will move into the old Circuit city space in January [scroll down to the middle of the article]. The 50,000 square feet of old Circuit City will become a source for Asian, Hispanic, Mediterranean and Middle Eastern cooking supplies and will stock fresh ingredients including seafood. In addition, plans include an international food court and coffee shop.

The owner of the yet unnamed store, Li Zhang, also owns the A&C Supermarket in Raleigh, so we hope he can bring that experience to the much larger store. Welcome to Durham!

* Take a Bite Out Of Crime With National Night Out

Tuesday, August 3rd, 2010

Tonight is National Night Out 2010. NNO is a neighborhood level event designed to help neighbors meet each other and to get to know their local law enforcement officers better. Each neighborhood does it differently, but most participating neighborhoods are having some sort of block party this evening to get people out to a great community building event.

To find out more about National Night Out, please visit their website.

* South Regional Branch Open to Book Lovers

Monday, August 2nd, 2010

I’m pretty certain I’m the last person to tell you about the opening of the new South Regional branch of the Durham library system last week. The opening completes the long awaited redevelopment of the system in south Durham and end a month-long book drought since the Parkwood Branch was closed in June.

Here’s where I rely on the pictures to tell their thousand words [thanks to Matt Babaian for the pics]

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