(From Forbes.com – dated 3/12/10)

Raleigh is the kind of tech-forward city that, innovative as it is, often gets overlooked in favor of San Francisco, San Jose or Seattle. But this year the North Carolina capital passed its flashier rivals to grab the No. 1 spot on Forbes’ Most Wired Cities list.

Raleigh’s win means it ranks higher overall than any other U.S. city in three measures: broadband penetration, broadband access and plentiful wi-fi hot spots. Taken together, the factors point to a populace that readily uses high-speed Internet inside and outside the home. Though a surprise winner, Raleigh boasts plenty of technology assets, including a high concentration of info-tech companies, research universities and state government offices.

Several tech powerhouses, such as IBM ( IBM – news - people ), Cisco ( CSCO – news - people ) and Lenovo ( LNVGY.PK – news - people ), maintain large offices in North Carolina’s nearby Research Triangle Park. Raleigh and its surrounding cities are also home to North Carolina State University, Duke and the University of North Carolina at Chapel Hill.

This combination of a highly educated and relatively higher-income population is “fertile ground” for high broadband demand and usage, says Brooks Raiford, head of the North Carolina Technology Association trade group. Regular folks can exploit Raleigh’s IT resources too. The city’s downtown is covered by a wi-fi network that is free to users. Operator Sprint Nextel ( S – news - people ) recently launched its “4G” next-generation mobile broadband in Raleigh and the rest of the “Triangle”–months before larger cities like Boston, New York and Washington, D.C., will get the service. “We’re very lucky to be at the epicenter of a lot of market strengths for these different companies,” say Raiford.

Another good reason to live in the Triangle!  

Early last month, Kiplinger came out with their list of 100 best values in public colleges.   And the winner is…University of North Carolina Chapel Hill.  

UNC is considered to be one of the top public universities in the country.   It continually competes, and holds its rank, against other big name public universities such as the University of Virginia and the University of Michigan.  

This year, UNC Chapel Hill’s applicant pool was so large that they were only able to accept 32% of its applicants.  Good news for North Carolinians: unlike other universities that are accepting more out of state students to increase their tuition revenue, state law requires that UNC accept no more than 18% of its undergraduates from out of state.   Still, for-out-of state students, UNC ranks as the number 3 best value nationwide.  

Rounding out the top 10 list was North Carolina State University. While UNC can boast an impressive 100% of need based aid met, NC State is close behind with 86%. As for out-of-state students, NC State comes in at number 9.  

(http://www.kiplinger.com/magazine/archives/best-values-in-public-colleges-200910.html)

Senate Clears Homebuyer Tax Credit Extension to Pass This Week

After two weeks of delay, the Senate last night cleared the way to pass a seven month extension and expansion of the tax credit for homebuyers. By an 85 to 2 roll call vote, the Senate voted to cut off debate on a package of measures that includes the homebuyer credit, making it virtually certain that the legislation will reach President Obama for his signature this week.

The homebuyer tax credit, due to expire in 28 days, would be extended through April 30 of next year. First-time buyers who are in process of making a purchased would not need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline.

For the first time, the legislation cleared last night makes move-up buyers as well as first-time buyers would be eligible for a credit. The $8,000 maximum first-timer credit will continue and will now available to couples with income up to $225,000, a nearly $55,000 increase above the level in existing law. A new $6,500 maximum credit would also be available to move-up homeowners who have lived in their current residence for five of the prior eight years..

Following the national trend, single family home sales in the Chapel Hill school district this year to date are off 21% from 2008, dropping from 434 to  341 units.   However, average sales prices went from $468,778 to  $453,026 for a 3% drop but when you consider cost per square foot, we are off 4% and I think that is a better indication of values.   Not bad, considering the blood baths we hear about in Florida, California, and other areas.   We benefit from a more stable economy and employment base, courtesy of the hospitals and universities in the area, not to mention the relocation of corporate employees from the rust belt to the sun belt.

Orange county numbers reflect a 6% drop in $/sf  but the unit sales are off only 16% for the same 3 quarters of  2008 to 2009.   Real estate in Chapel Hill and the rest of the triangle area continues to show  resilience and I continue to believe that as we come out of the recession we will be among the first to show the increases in prices we’ve come to expect.   If you want more details on the triangle area housing numbers, call or email me.   Mark 919-960-6332

Welcome to Mark Civiok’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Chapel Hill.