Deaton Investment Real Estate & The Wake County Apartment Association

Friday, July 23, 2010

Job Growth Still Stumped

One step step back. This seems to be the norm right right in the overall economy and the labor markets. While the Triangle area is healthier than many, our employment figures are not necessarily anything to brag about. As of June, the Triangle's unemployment rate increased slightly to 8%. Nearly 67,000 people were counted as out of work in the last survey, which doesn't include people who have stopped looking.

What do you think it's going to take to start creating jobs? How long do you think we will be in this "muddle through" economy?

Friday, July 16, 2010

More than 1 million foreclosures expected this year

It just doesn't seem logical that our real estate market is going to see any significant price appreciation in the near future. Home sales and investment property sales are at all time lows and the current inventory is not being absorbed. Sellers (individuals, banks, and even government entities like FHA and HUD) that need to move their properties are having no choice but to continue lowering prices. Add to that, even more foreclosures are coming and it's hard to imagine prices going up anytime soon. We need job creation and we need it fast.

Thursday, July 8, 2010

Downtown mised use development now has a church in the plan

The development at the corner of Peace and Blount in Downtown Raleigh has been stalled for a while due to market conditions. As a result the developer has been looking to sell off pieces of the parcel in order to pay down some debt. Now, according to the News and Observer, someone may have answered their prayer. A church has part of the land under contract and hopes to begin building their worship center next year.