Housing

RubyJi via Flickr, Creative Commons

July home sales are up 39 percent in the Triangle, compared to the same period last year. That number comes from Durham, Johnston, Orange and Wake County sales.   

As home sales have increased, inventory has gone down, by over 10 percent. Currently, the region has just a three month supply of homes on the market based on current trends.   

Stacey Anfindsen, a market analyst with Birch appraisal Group, says these numbers need perspective. 

A dorm at UNC-Chapel Hill.
madrigals via Flickr, Creative Commons

UNC Board of Governors members voted unanimously to cancel a policy allowing men and women to live together on the Chapel Hill campus.  The vote nullified the UNC Chapel Hill trustee board's endorsement of gender neutral housing.

Some male and female students were going to live together in 32 living spaces set aside in two dorms starting this month.  But the board of governors said that arrangement would be inappropriate.  Chairman Peter Hans says their consideration of the policy included the unfavorable opinions of some state lawmakers.

Kay Hagan is co-sponsoring a new housing bill in the US Senate.
Kay Hagan

Some members of Congress from North Carolina are getting behind proposals to dismantle mortgage giants Fannie Mae and Freddie Mac. 

Public Housing in Chapel Hill.
Town of Chapel Hill

Section 8 is a federal subsidy program that bridges the gap between people with low-income and market rentals. But this summer, Chapel Hill, Carrboro and Raleigh, all face cuts to their Section 8 Voucher Program.

City of Raleigh

Raleigh city officials have plans for several new residential developments in the middle of the capital city.  They say it's part of their master plan to entice not only new residents but new business downtown.

It is also an indication that Raleigh is doing well economically.  City Planning Director Mitchell Silver says residences that are on the drawing board or under construction are geared toward not just urban professionals, but families.

Coastal Properties via Flickr, Creative Commons

Blacks and Hispanics are paying significantly more in home prices than whites. That's according to new research out of Duke University that tracked more than two million home sales in Chicago, San Francisco, Washington D.C. and L.A.

Sales of homes in the Triangle jumped 33-percent last month, when compared to January, 2012. The average length of time a house is sitting on the market is down to 115 days, from 130 a year ago. Stacey Anfindsen is a local residential real estate appraiser, and market analyst. He’s says improved sales are tied to a growing workforce in Raleigh-Durham-Chapel Hill region.

Franklin Street in Chapel Hill
Dave DeWitt

A developer has approval from the Chapel Hill Town Council to rebuild a key block of the downtown area.  The council voted unanimously Monday night to approve the 123 West Franklin project, which would replace University Square.

The current development is separated from the front of Franklin Street by a parking lot.  123 West Franklin would include buildings on the front of Franklin Street with apartments as well as retail and office space.  Mayor Mark Kleinschmidt says it will revitalize the area.

Leoneda Inge

There are neighborhoods in many urban areas across the country with empty, dilapidated houses. Chances are the down economy got the best of the owner resulting in foreclosure.  But in thousands of cases foreclosures have gone wrong like at a house on East Geer (gear) Street in Durham.   For years no one took responsibility for the defaulted mortgage.  That means, the foreclosure was not completed, the structure could not be sold, resulting in blight.  It’s called a “bank walk away.”

City inspectors in Greensboro lost track of more than 300 cases of housing and nuisance violations.

The violations ranged from overgrown lots to structures that should have been condemned. In some instances city inspectors found housing code violations, but didn’t follow up and were not held accountable by supervisors. The lost violations effect between 50 and 75 properties. Councilwoman Nancy Vaughn says a new computer system didn’t cross-check with old cases.

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