REALTOR Review Winter 2012 edition

REALTORreview 速

An e-publication of the Raleigh Regional Association of REALTORS速

Leading the Way in 2012

WINTER 2012

RALEIGH REGIONAL ASSOCIATION OF REALTORS® 111 Realtors Way, Cary, N.C. 27513 Phone: 919-654-5400; Fax: 919-654-5401 www.rrar.com RRAR OFFICERS Stacey Anfindsen, President Marshall Gay, Vice President Asa Fleming, President-Elect Mollie Owen, Secretary/Treasurer Linda Trevor, Immediate Past President RRAR DIRECTORS Vince Bankoski

Linda Kolarov

Autumne Bennette

Carol McCormick

Phyllis Brookshire

Gina Miller

Kelly Cobb

John Pace

David Chance

Mark Parker

Steina DeAndrade

Teresa Pitt

Harriette Doggett

Zach Schabot

Tom Gongaware

Jose Serrano

Becky Harper

Josh Swindell

Grayson Hodge

Kevin Woody

REALTORreview ®

WINTER 2012, VOL. 4, NO. 1

features

11

YEAR ENDS ON UPSWING Closed home sales ended the year on a six-month favorable trend and exceeded those for the same time last year.

Morty Jayson REALTOR® FOUNDATION OF THE TRIANGLE OFFICERS President: Marshall Gay President-Elect: Theresa Clark Secretary/treasurer: Vince Bankoski NCAR REGIONAL VICE PRESIDENTS Theresa Clark

Harriette Doggett

NAR DIRECTORS Eddie Brown

John Wood

TRIANGLE REALTORS LEADERSHIP ACADEMY DEAN ®

Diana Braun Members are cautioned that the inclusion of a name, specific commercial product or service in an article, or in this publication does not imply endorsement by the Raleigh Regional Association of REALTORS®. All advertisers in this publication wholly support the Fair Housing Act and fully promote equal opportunity housing.

Copyright 2012 by the Raleigh Regional Association of REALTORS®.

All rights reserved.

REALTOR® REVIEW STAFF:

3

PICTURE PERFECT Take a look back at the 2012 installation ceremony, a memorable event framed by high spirits and hopes.

1

From the President

Heidi Ketler, APR, editor, hketler@verizon.net

9

Local Market Updates

Shelly Beck, graphic designer, sbdesign@cox.net For editorial contributions and ad inquiries, please contact Sandee Washington at sandeew@rrar.com or (919) 654-5400.

GREAT EXPECTATIONS The Raleigh-Cary region tops an Inman News list of metro areas expected to outshine others in real estate performance in 2012.

departments

Patricia Gregory Rand, managing editor, patriciar@rrar.com Sandee Washington, communications associate, sandeew@rrar.com

13

12

New Members

14

Bits & Pieces

18

Calendar of Events

rrar.com

Preliminary Identity Colors

from the president

RRAR Welcomes Stacey Anfindsen, 2012 Association President Stacey Anfindsen

Dear REALTOR® member,

It is an honor to serve Raleigh Regional Association of REALTORS® as 2012 president.

In this position, I am looking forward to giving back to an association that has fostered so much personal and professional growth.

In doing so, I will work to instill greater awareness among members and prospective members of the value of RRAR membership. I will work to further relationships throughout the community, with the common goal of benefiting overall quality of life in our region.

I will work with my fellow RRAR members on advancing our association. Some specific goals I have are: • Create greater transparency in our political endorsement process and with RPAC. • Take the Real Trends show “on the road.”

• Reinstate the Community Servant of the Year award.

• Host face-to-face meetings with our political leaders.

• Encourage greater board of director outreach to new members, through monthly welcoming calls.

• Grow the Raleigh Associate Program (RAP).

I look forward to working with you and I welcome your input and ideas.

Sincerely, Stacey Anfindsen

MISSION STATEMENT The Raleigh Regional Association of REALTORS®, the area’s voice of real estate, promotes the highest ethical and professional standards and cooperation among its members; provides products, programs and services to meet the evolving needs of the real estate industry and consumers; and serves as a leading advocate of private property rights and community involvement.

VISION STATEMENT “Anticipating and meeting the opportunities and challenges of our industry.”

RRAR 2012 COMMITTEE CHAIRS Bylaws: Asa Fleming Building: Stacey Anfindsen Communications & Public Relations: Carol McCormick Community Service: Frank DeRonja Government Affairs: Bill Fletcher RPAC: Asa Fleming Personnel: John Wood Grievance: Autumne Bennett, Suzanne Burton, Nancy Cashwell, Margaret Sophie Hall of Fame: Ed Willer Nominating: Gary Rabon RRAR 2012 COUNCIL CHAIRS Women’s Council: Lynn Gardiner International Council: Mike Humphreys Top Producers Council: Co-Chairs Shawn Britt and John Wood Small Brokers Council: Chair Brenda Carroll Young Professionals Network: Co-Chairs Autumne Bennett and Aquene Hernandez RRAR STAFF DIRECTORY Main Office (919) 654-5400 Fax (919) 654-5401 www.rrar.com RRAR Company Store, (919) 654-7253 Executive Vice President Raymond C. Larcher, Ext. 218, rayl@rrar.com Association Services Director Betsy Ramsey, Ext. 217, betsyr@rrar.com Association Services Associate Vicki Buckholtz, Ext. 216, vickib@rrar.com Communications Director Patricia Gregory Rand, Ext. 239, patriciar@rrar.com Communications Associate Sandee Washington, Ext. 238, sandeew@rrar.com Education Director Cara Mottershead, Ext. 211, caram@rrar.com Education Associate Sonya Yankoglu, Ext. 212, sonyay@rrar.com Facilities Manager Mary Rachel White, Ext. 210, maryrachelw@rrar.com Governmental Affairs Director Tara L. Robbins, Ext. 215, taralynl@rrar.com Information Associate Shelia Clark, Ext. 200, sheliac@rrar.com Store Manager Yukari Powers, Ext. 201, yukarip@rrar.com TMLS STAFF DIRECTORY Vice President of Operations Rachel Wiest, Ext. 219, rachelw@trianglemls.com TMLS Executive Associate Christy New, Ext. 220, christyn@trianglemls.com Compliance Director Letitia Santos, Ext. 234, letitias@trianglemls.com Compliance Associate Raina Joyner, Ext. 242, rainaj@trianglemls.com Data Distribution Director Carol Hamrick, Ext. 213, carolh@trianglemls.com Data Distribution Associate Bonnie Eaddy, Ext. 207, bonniee@trianglemls.com MLS Systems Director Kathy Matheson, Ext. 233, kathym@trianglemls.com MLS Technical Support Associate J Stepp, Ext. 226, js@trianglemls.com MLS/Realist Support Associate Jennifer Horton, Ext. 227, jenniferh@trianglemls.com Technical Operations Director Matt Nagy, Ext. 225, mattn@trianglemls.com Training Development Manager Allan Nielsen, Ext. 208, allann@trianglemls.com CTC/MLS Training Manager Lynne Brid, Ext. 232, lynneb@trianglemls.com RRAR/TMLS MEMBERSHIP/ FINANCE DEPARTMENT Membership/Finance Director Randi Clodfelter, Ext. 221, randic@trianglemls.com Finance Associate Pat Long, Ext. 222, patl@trianglemls.com Finance Associate Jill Pressley, Ext. 221, Jillp@rrar.com Membership Associate Kelly Hunsucker, Ext. 209, kellyh@trianglemls.com

REALTOR Review ®

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Inaugural Ball:

A Night to Remember

RRAR Welcomes New Board, Officers and Congratulates Leadership Graduates The Raleigh Regional Association of REALTORS® members convened at a black tie affair at Prestonwood Country Club in Cary Jan. 6 for the swearing in of their new president and board of directors, as well as the graduation

ceremony for the 2011 Triangle REALTORS® Leadership Academy.

“I am honored to be the 2012 president of the RRAR,” said Anfindsen, a state-certified residenREALTOR Review ®

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Winter 2012

tial real estate appraiser and licensed residential broker. He has practiced in the Research Triangle Park market since 1988.

In addition to being the 2012 RRAR president, Anfindsen is also director for Triangle Multiple Listing Service Inc. and on the advisory board of governors for Prestonwood Country Club. The New Jersey native is a 1983 graduate of Furman University in Greenville, S.C. See INAUGURAL BALL on page 5

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Broker Cooperation Welcome. ©2012 KB Home (KBH). Payment of Broker Co-op requires Broker or agent to accompany and register buyer on first visit and comply with Broker Co-op Agreement. Exterior photos show upgraded landscaping/options and may not represent communities’ lowest-priced homes. Interior photo shows upgrades/options that may be purchased at predetermined stages of construction for an additional cost and decorator items/furnishings not available forWinter purchase from KBH. Photo does not depict racial preference. See sales REALTOR Review 2012 representative for details. RAL-100708 ®

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Jose Serrano Josh Swindell

RRAR WELCOMES NEW BOARD, OFFICERS… continued from page 3

“This provides me with an opportunity to give back to the association that has fostered personal and professional growth,” said Anfindsen. “I look forward to communicating the value proposition of RRAR to prospective and current members during the year.

I also look forward to reaching out to community and political leaders to determine how our common interests can benefit the overall quality of life.”

RRAR 2012 Officers Stacey Anfindsen, President Asa Fleming, President elect Marshall Gay, Vice President Mollie Owen, Secretary/ Treasurer Linda Trevor, Past President

RRAR 2012 Board of Directors Vince Bankoski Autumne Bennett Phyllis Brookshire Eddie Brown David Chance Kelly Cobb Steina DeAndrade Harriette Doggett Tom Gongaware Becky Harper Grayson Hodge Morty Jayson Linda Kolarov Carol McCormick Gina Miller John Pace Mark Parker Teresa Pitt Zach Schabot

John Wood Kevin Woody

2011 Leadership Academy Graduates Adam Brown Donna DeLong Laurie Donofrio Randi Clodfelter Lee Goldstein DeJane Kerr Kristine Kiegiel Mark Parker Rita Perry Trish Gregory Rand Sherri Rimel Tracy Santrock Susan Tenney 2012 Triangle Multiple Listing Services Inc. Raymond C. Larcher, President Rachel Wiest, Vice President of Operations/Treasurer Christy New, Executive Associate 2012 DIRECTORS: Stacey Anfindsen Eddie Brown Tom Gongaware David Jones Eddie Speas Kirk West John Wood Click here for a list of the RRAR board of directors and their e-mail addresses.

See INAUGURAL BALL on page 6

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Phyllis York Brookshire ® Is Named REALTOR of Year Phyllis York Brookshire was named 2011 REALTOR® of the Year by the Raleigh Regional Association of REALTORS® at the association’s annual inaugural ball at Prestonwood Country Club, Friday, Jan. 6.

An RRAR past president, and current board member of RRAR and the REALTOR® Foundation of the Triangle, Brookshire is senior vice president for Allen Tate Co., where she oversees operations of the Triangle region, as well REALTOR Review ®

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Winter 2012

as residential real estate services throughout the Carolinas.

“Phyllis is focused, dedicated and one of the most deserving of this award. We are grateful for her loyalty, commitment and all of her efforts on behalf of the Raleigh Regional Association of REALTORS®,” said Bill Owens, 2010 REALTOR® of the Year, who presented the award. “She is one of the best candidates I have ever seen.”

A native of Raleigh and a graduate of the University of North Carolina at Chapel Hill, Brookshire began her career in real estate while attending UNC as a Morehead scholar. She later helped establish and grow the residential real estate division for her family’s company, where she served as vice president and chief operating officer until 2006.

Brookshire is committed to community service and currently serves on the board of directors for the Greater Raleigh Chamber of Commerce and as associate dean of the Triangle REALTORS® Leadership Academy.

Brookshire also is a multi-titled world champion equestrienne. In addition to working with horses in the ring, she enjoys watching ACC sports and an ice-cold glass of sweet tea with her husband, Don.

Hall of Fame Inductees and Emeritus Recipients Honored Three members of the Raleigh Regional Association of REALTORS® were inducted into the association’s hall of fame for their contributions and outstanding service to the real estate profession.

Several others were honored as REALTOR® Emeriti for their 40 years or more of membership in the National Association of REALTORS®.

Hall of Fame inductees recognized for their community activities, professional accomplishments and association activities were: Burks Crumpler, Gilliam Kittrell and Myra Zollinger.

“We are proud to announce this year’s Hall of Fame inductees,” said RRAR Executive Vice President Raymond Larcher. “These REALTOR Review ®

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Winter 2012

members have worked very hard to achieve such a high level of industry success. They are more than deserving of this award.”

Emeritus recipients honored for their lasting contributions to the real estate profession were: Edward H. Willer, Gerald J. Rossi, Larry D. Kingsley, H. A. (Speck) Underwood III, John L.(Lanse) Houston, Gordon B. Tefft, Thomas G. Cochrane III and Jean P. Hunt.

“We are incredibly proud of our members who have achieved the emeritus. They have contributed greatly to our association, the real estate profession and our community over the years,” Larcher said.

See INAUGURAL BALL on page 8

RRAR Communications & Public Relations Committee Going Strong in 2012 RRAR Communications & Public Relations Committee Kicked off the year with a dinner meeting at the home of 2011 Chair Mollie Owen. The 2012 Chair is Carol McCormick with Laurie Donofrio serving as Vice Chair.

McCormick gave encouraging remarks, sharing her hopes for an open, honest and collegial relationship between committee members. She said, “I am confident that the committee can make a difference in protecting and advocating for the interests of the community of homeowners and those who aspire to own a home.”

patriciar@rrar.com regarding media calls and questions. When contacted by the press, the RRAR Communications Department can help you prepare for an interview.

Mark your calendar now for the third annual Nationwide Open House – scheduled for April 28 & 29. Laurie Donofrio and Mary Biathrow are co-chair-

ing this subcommittee.

Communications & Public Relations Technology Chair, Kevin Woody recently led a focus group through a discussion of how best to plan for an RRAR and TMLS Mobile Website(s). The meeting provided members and subscribers with an opportunity to share insights about how to make the mobile site(s) most convenient for users. The group will reconvene to discuss look and feel before a user group tests the site (s).

McCormick and Communications Director Trish Rand recently met with WRAL Vice President and General Manager Steven Hammel to discuss how best to facilitate continued positive communication with the association and its members.

Mark Parker and Asa Fleming are leading the media relations subcommittee and finding ways to help grow relationships with area reporters. RRAR members are encouraged to email

Laurie Donofrio (vice chair) Mark Parker (RRAR Board member) and Asa Fleming (RRAR pres elect) enjoy the Communications & Public Relations kickoff dinner meeting at the home of for committee chair Mollie Owen REALTOR Review ®

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Local Market Update – December 2011 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS

Entire Triangle Region

- 15.8%

+ 0.5%

- 0.3%

Change in New Listings

Change in Closed Sales

Change in Median Sales Price

December

New Listings Closed Sales

Year to Date

2010

2011

+/–

2010

2011

+/–

2,134

1,797

- 15.8%

45,983

37,711

- 18.0%

1,513

1,521

+ 0.5%

20,679

19,665

- 4.9%

Median Sales Price*

$185,550

$185,000

- 0.3%

$189,500

$185,000

- 2.4%

Average Sales Price*

- 2.6%

$227,666

$222,083

- 2.5%

$228,893

$222,960

Total Dollar Volume (in millions)*

$344.3

$337.0

- 2.1%

$4,729.7

$4,377.8

- 7.4%

Percent of Original List Price Received*

92.8%

91.9%

- 1.0%

92.3%

92.0%

- 0.4%

Percent of List Price Received*

97.2%

95.7%

- 1.5%

96.4%

96.0%

- 0.4% + 21.0%

Days on Market Until Sale

111

128

+ 15.2%

105

127

Inventory of Homes for Sale

16,657

13,036

- 21.7%

--

--

--

Months Supply of Inventory

9.7

8.0

- 17.4%

--

--

--

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

2010

December

2011

2010

Year to Date

2011

45,983 5,983

2 134 2,134 1,797

37,711 1,513

1,521 20,679

- 15.8% New Listings

- 18.0% New Listings

+ 0.5% Closed Sales

19,665

- 4.9% Closed Sales

Change in Median Sales Price from Prior Year (6-Month Average)**

All MLS

b

Entire Triangle Region

a

+ 10% + 8% + 6% + 4% + 2% 0% - 2% - 4% - 6% - 8% 1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period period. | Current as of January 17 17, 2012 2012. All data from Triangle Multiple Listing Service Service, Inc Inc.. | Powered by 10K Research and Marketing Marketing.

For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com

REALTOR Review ®

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Winter 2012

Local Market Update – December 2011 A RESEARCH TOOL PROVIDED BY TRIANGLE MLS

Wake County

- 16.7%

+ 2.4%

+ 4.1%

Change in New Listings

Change in Closed Sales

Change in Median Sales Price

December New Listings Closed Sales

Year to Date

2010

2011

+/–

2010

2011

+/–

1,077

897

- 16.7%

24,001

19,507

- 18.7%

835

855

+ 2.4%

11,077

10,608

- 4.2%

Median Sales Price*

$208,500

$216,993

+ 4.1%

$210,855

$209,000

- 0.9%

Average Sales Price*

$260,086

$257,776

- 0.9%

$255,762

$247,090

- 3.4%

Total Dollar Volume (in millions)*

$217.2

$220.2

+ 1.4%

$2,833.7

$2,620.8

- 7.5%

Percent of Original List Price Received*

94.3%

93.0%

- 1.4%

93.0%

92.8%

- 0.1%

Percent of List Price Received*

98.7%

96.6%

- 2.1%

97.1%

96.7%

- 0.5%

Days on Market Until Sale

105

118

+ 13.0%

101

121

+ 19.7%

Inventory of Homes for Sale

7,986

5,897

- 26.2%

--

--

--

Months Supply of Inventory

8.7

6.7

- 23.1%

--

--

--

* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

2010

December

2011

1 077 1,077 897

835

2010

Year to Date 24,001

855

19,507 11,077

- 16.7% New Listings

2011

- 18.7% New Listings

+ 2.4% Closed Sales

10,608

- 4.2% Closed Sales

Change in Median Sales Price from Prior Year (6-Month Average)**

All MLS

b

Wake County

a

+ 15%

+ 10%

+ 5%

0%

- 5%

- 10% 1-2008

7-2008

1-2009

7-2009

1-2010

7-2010

1-2011

7-2011

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period period. | Current as of January 17 17, 2012 2012. All data from Triangle Multiple Listing Service Service, Inc Inc.. | Powered by 10K Research and Marketing Marketing.

For further information regarding TMLS Market Trends and Analysis please visit: www.trianglemls.com

REALTOR Review ®

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Winter 2012

PENDING S A L E S U P 2 1 P E R C E N T

Real Estate Sales End Year On Positive Note

The Triangle Multiple Listing Service reports the following information pertaining to the housing industry on residential properties located in the 16 counties of the greater Triangle Region of North Carolina during December 2011.

The percentage changes are comparisons with the prior year’s month unless otherwise noted.

Closed sales ended the year on a six-month favorable trend, in which sales exceeded the same timeframe in 2010 by just .5 percent. The prior five months showed sales up with ranges between 9 percent to 23 percent over the same months in 2010.

Wake, Johnston and Chatham counties fared the best, with closed sales up 2.4, 7.5, 16.7 percent, respectfully. The three

communities with the largest increase in sales for December were North Durham, up 34.4 percent; North Raleigh, up 18.9 percent; and Wake Forest, up 13.2 percent, over December 2010.

Another positive indicator for the real estate market was the continued growth in pending sales (homes under contract, but not yet closed) for the eighth month running. Pending sales for December 2011 were up 21.5 percent over December 2010.

New listings in the Triangle region decreased 15.8 percent to 1,797. Inventory levels shrank 21.7 percent to 13,036 units, extending the signature trend of 2011. Prices remained fairly stable for the month with the median sales price decreasing 0.3 perREALTOR Review ®

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cent to $185,000. Absorption rates improved as month’s supply of inventory was down 17.4 percent to 8.0 month’s supply.

“We are seeing more optimism in the market with more stable prices,” said TMLS President Raymond Larcher. ”Buyers are seeing sub 4.0 percent loans, with more balanced supply and demand trends. The Housing Affordability Index is at 191, which is the second highest level in 2011. An index of 120 means the median household income was 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates.

A higher number means greater affordability.”

WELCOME NEW MEMBERS Melissa M. Albert, Keller Williams Preferred

Stanley R. Filipkowski, Keller Williams

Chilon Anderson, Above All Property Management

Esther Giambalvo, Fonville Morisey/Preston Hampton Rutledge, ERA Strother Real Estate Sales Office Heather Sasser, Freedom Realty Firm Ramona P. Grady, Real Living Pittman Jack L. Schrold, Allen Tate Co. Inc. Properties Christopher V. Hart, Keller Williams Preferred James H. Schultz, The New Realty Group L.L.C. Alden J. Hawkes, Howard Perry & Walston Realtor Denise Seagroves, The Glass Guru

Jacob M. Anderson, Howard Perry & Walston-Triangle at Southpoint Kristin Anderson, Howard Perry & Walston Realtor Carlton S. Ashby III, Ford Premier Properties L.L.C. Amy R. Auman, Allen Tate Co. Inc. Betty Baker, Landmark Residential LaDonna M. Barnhill, Howard Perry & Walston Realtor Kameswari G. Bhandaru, Howard Perry & Walston Realtor Lynda H. Bradbury, Keller Williams Preferred Stephen Braun, Steve M. Braun Realty & Building Jill M. Brito, Howard Perry & Walston Realtor Chip Brown, Bank of North Carolina Alah Bumgardner, Powell Realty Phyllis G. Callahan, Fonville Morisey/ Brier Creek Sales Office Anthony N. Capozzoli, Carrabbozzoli Realty Madeline Carriger, Fonville Morisey/ Lochmere Sales Office Matt Cartwright, Prudential York Simpson Underwood Realty Adelino Cerveira, Only Way Realty Patricia Cheaure, Triangle Closers L.L.C. Vicki H. Chiang, Fonville Morisey/Preston Sales Office William S. Cline, Carolina MaxRealty Inc. Robert S. Converse, Prudential York Simpson Underwood Realty Maggie E. Dnistran, Standard Pacific Carolinas L.L.C. Catherine A. Dobbins, Fonville Morisey/ Lochmere Sales Office

Nancy E. Hays, Chatham Homes Realty

Aaron Herstein, Bank of North Carolina Tracy M. Hoggard, Keller Williams Gregory T. Holland, Fonville Morisey/ Falls Sales Office Donna R. Johnson, HomeTowne Realty Jolene Johnson, Drees Homes Sara K. Johnson, Howard Perry & Walston Realtor Denise K. Jones, Howard Perry & Walston Realtor

Barbara L. Rossi, Beazer Homes

John Sears, Benham Real Estate Group Thomas R. Smith, Howard Perry & Walston Realtor Grover C. Smothers, ASK Appraisals L.L.C. Deborah Stafford-Louisiana, Fifth Third Mortgage Dale A. Strickland, Howard Perry & Walston Jessica L. Suttles, Lennar Carolinas L.L.C.

Dan Keech, Fiber Clean

Robert TeCarr, Howard Perry & Walston Realtor

Edward B. Kirk, Howard Perry & WalstonTriangle at Southpoint

Sylvia Thompson, The New Realty Group L.L.C.

Donna B. Kleinert, Keller Williams Yongbin Liu, Carolina Hope Realty L.L.C.

Koren M. Underdue, Keller Williams Preferred

Sharon Y. Lopez, Howard Perry & Walston Realtor

J. Albert van Overeem, Dan Ryan Builders North Carolina L.L.C.

Tom Mabrey, Keller Williams Realty Chapel Hill Elizabeth S. McCormick, Fonville Morisey/ Youngsville Sales Office Michele L. McLeod-Minor, Coldwell Banker Advantage Allen Meadows, Easy Street Realty Christine K. Mengel, Fonville Morisey & Barefoot/Bella Casa Rayna R. Morrison, Fonville Morisey/ Preston Sales Office Susan M. Napolitano, Prudential York Simpson Underwood Realty

William J. Vasquez, Benham Real Estate Group Edward M. Wangoo, Howard Perry & Walston Realtor Wendy Waring, Premiere Real Estate Douglas J. Weaver, Fonville Morisey/ Youngsville Sales Office Ronald L. Weidenfeller, Fonville Morisey/ Preston Sales Office Melissa A. Westbrook, Fonville Morisey/ Falls Sales Office

Colleen M. O’Keefe, Howard Perry & Walston Realtor

Jeff S. Williams, Howard Perry & Walston Realtor

Sara J. DuChon, Fonville Morisey/Inside the Beltline Office

Julie Olive, Fonville Morisey/ The ReWard Team

Keith A. Wilson, Howard Perry & Walston Realtor

Gregory A. Dyer, Howard Perry & Walston Realtor

Russell Oliver, All Property Appraisal Corp.

Joseph T. Owens, Keller Williams

Louise Wilson, Howard Perry & Walston Realtor

Monica M. Eastin, Coldwell Banker Advantage

Patrick L. Perry, HomeTowne Realty

Diana L. Driscoll, Ashton Woods Homes

Michael E. Edwards, Allen Tate Co. Inc.

Victoria C. Peters, Howard Perry & Walston Realtor

Steven D. Elliot, Howard Perry & Walston Realtor

Loresha G. Phillips, Fonville Morisey/ Stonehenge Sales Office

Jerald L. Eskew, Prudential York Simpson Underwood Realty

Eleanor Reid, Trademark Property Services L.L.C.

Phyllis Faulkner, Guaranteed Rate Inc.

Mike Reiser, Real Estate Marketing & Con.

Steven A. Wilson, Premier Properties of the Triangle David Worters, Hodge & Kittrell Sotheby’s International Realty George Young, Beazer Homes Lihua Zhang, First Triangle Realty Inc. Wen J. Zheng, Only Way Realty

If you would like to sponsor a new member orientation, please contact Betsy Ramsey at (919) 654-5400.

Ten Real Estate Markets Poised to Outperform in 2012 Raleigh Tops Inman News List.

Despite a steep drop in sales, the Raleigh-Cary market saw considerable price appreciation last year, with its median sales price for single-family homes jumping 7.3 percent from third-quarter 2010 to third-quarter 2011.

At $224,300, Raleigh-Cary metro had the highest median sales price among the 10 marBY ANDREA V. BRAMBILA

While national home prices and sales may not recover to their historical levels until 2013 at the earliest, some local housing markets always outperform others in any given year. The Raleigh-Cary market tops this year’s Top 10 list.

kets on this list and was the only market with a median sales price above the U.S. median.

Nonetheless, its affordability rate stayed above the national level, with 73.6 percent of its homes affordable to households earning the area’s median income, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

In this second annual report (see last year’s Top 10 Markets to Watch in 2011), Inman News examined housing, economic and demographic data for metropolitan areas nationwide to identify 10 housing markets to watch in 2012.

See REAL ESTATE MARKETS on page 15 REALTOR Review ®

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Winter 2012

RALEIGH-CARY, N.C. Total population (2010): 1,130,490 Median sales price (Q3 2011): $224,300 % change median sales price (Q3 2010-Q3 2011): 7.3% Sales volume (# units sold Nov. 2010-Oct. 2011):12,156 % change sales volume (Nov. 2010-Oct. 2011 vs. Nov. 2009-Oct. 2010): -39.8% Sales per population (Nov. 2010-Oct. 2011): 1 sale per 93 people Unemployment rate (Nov. 2011): 7.8% Foreclosure activity rate (Nov. 2011): 1 in 1,295 units Walk Score: 40 SOURCE: INMAN NEWS

bits & pieces

The REALTOR® Store

Good Cents Deals at the REALTOR Store ®

There are lots of good reasons to shop at your company store.

Valentine’s Day Sale 10% OFF (February 2012) Imagine her delight with a beautiful purse hook or eyeglass holder! Both items are 10 percent off in February! For the men, all measuring devices and calculators are 10 percent off!

Information Boxes in March SALE $15.99 (March 2012) In March our most popular information boxes with stakes (white and black) are on sale for $15.99. Regular Price: $18.99 *****

These offers cannot be combined with other discounts or online. Please come into the store or call (919) 654-7253 to receive these discounts.

Lock Box Safeguard Did you know, you can retrieve the combination for your lock box if you purchased it at the REALTOR® Store? Lock box combination records go back to 1987!

As always, thank you for your business!

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REAL ESTATE MARKETS continued from page 13

These markets are showing signs of strength in several key metrics, including above-average price appreciation, a flourishing job market, a high rate of sales in proportion to population, a high level of home affordability, low foreclosure activity, a below-average share of distressed sales, a low vacancy rate and other characteristics indicating a healthy housing market.

While real estate markets in the Midwest and Northeast made up the majority of markets on last year’s list of 10 markets to watch, this year the Midwest and the South dominated. Two Northeastern markets, both in New York state, also made the list; and no markets in Western states are on the list.

The 10 markets are, in order: Raleigh-Cary, N.C.; Wichita, Kan.; Rochester, N.Y.; Des Moines-West Des Moines, Iowa; Chattanooga, Tenn.-Ga.; Peoria, Ill.; Amarillo, Texas; Binghamton, N.Y.; Waterloo-Cedar Falls, Iowa; and Bloomington-Normal, Ill. The Des Moines and Bloomington-Normal metros are on the list for the second year in a row.

said 2012 will be a “transitional year” in the housing recovery, with an improvement in home sales and prices anticipated to fall to a long-awaited “bottom.”

Zillow identified some markets that are “undervalued” on a historical basis in a chart provided for this report, and Inman News reached out to a range of other real estate research and information companies for their insight on those real estate markets expected to outperform others in the year ahead. Those companies’ findings were not considered in the review and selection process of the top 10 markets featured in this report.

“While home values are expected to fall further (another 2 percent to 4 percent) in 2012, with a definitive bottom probably a year away, encouraging precursors to a true stabilization of home values are falling into place as the new year begins,” Humphries said in a recent forecast.

“Home sales will show a more consistent upward trend this year, slowly reducing the amount of vacant housing inventory. This increased demand will eventually start to put a

Nationwide, unemployment is high, though trending down; the median price of an existing home fell more than 4 percent in 2011; and existing-home sales rose a modest 1.7 percent last year, according to the National Association of REALTORS®.

floor under home values later this year.”

United States foreclosure activity hit its lowest level since 2007 last year, though experts largely expect it to ramp up this year, putting downward pressure on home prices.

At $224,300, Raleigh-Cary metro had the highest median sales price among the 10 markets on this list and was the only market with a median sales price above the U.S. median “There were strong signs in the second half of 2011 that lenders are finally beginning to push through some of the delayed foreclosures in select local markets.

We expect that trend to continue this year, boosting foreclosure activity for 2012 higher than it was in 2011, though still below the peak of 2010,” said Brandon Moore, chief executive officer of RealtyTrac, in the company’s year-end foreclosure report.

See REAL ESTATE MARKETS on page 16

Stan Humphries, chief economist for Zillow,

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REAL ESTATE MARKETS continued from page 15

To compile the list of 10 markets to watch this year, Inman News looked for markets with above-average median sales price growth, a low unemployment rate, a high rate of sales per population, high affordability, low and falling foreclosure activity, a low share of distressed sales, above-average projected job growth, median household income growth, low and falling vacancy rates, growth in the number of building permits issued, above-average population growth, high projected population growth and a rise in inmigration from other states.

While no markets on the list fulfilled all of these ideal economic characteristics, they did meet most of them.

Contrary to last year’s list, in which most of the resulting markets had populations under 250,000, half of the metros on this year’s list had populations above 500,000. This may be

partially a result of only considering metros with a population of 150,000 or above, while last year’s list did not limit the list by population size.

than the national average. None of the markets had unemployment rates higher than 7.9 percent. All had lower shares of distressed sales than the national average.

Among the findings in this report:

Only two of the markets had populations above 1 million, and three had populations above 500,000. The remainder had populations below that figure, but above a minimum 150,000.

Three of the 10 markets on this list are state capitals, and both Illinois markets benefit from proximity to that state’s capital, Springfield.

Four of the markets: Bloomington-Normal and Peoria in Illinois, as well as Des Moines-West Des Moines and Waterloo-Cedar Falls in Iowa, are no more than 300 or so miles from each other.

Nine of 10 markets had median sales prices below the national median in the third quarter of 2011.

Where affordability rankings were available, the markets on the list had no less than 73.6 percent of homes affordable to those households earning the area’s median income in the third quarter.

All had unemployment, foreclosure and vacancy rates lower

As in last year’s report, jobs in the public sector as well as the health care industry were major employers in most markets. This year, however, nine out of 10 markets also counted manufacturing companies among primary employers. Technology companies, energy providers, and universities also boosted many markets.

The 10 markets are ranked according to population, sales volume and median sales price appreciation. Population was weighted most heavily in the rankings, followed by sales volume in proportion to population, and rate of price appreciation.

International Council Wins Gold Status Achievement Program.

The National Association of REALTORS® named the Triangle International Council of REALTORS® a Gold council in the 2011 Global Business Council

Among the nearly 90 global business councils operating nationwide, only 12 were named Gold or Platinum councils.

“On behalf of the 240,000 REALTOR® members represented by global business councils across the country, we thank you for REALTOR Review ®

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your efforts and congratulate you on your achievement,” said Janet Branton, senior vice president of the National Association of REALTORS® Global Business and Alliances Group.

Diana Braun is chair of the Triangle International Council of REALTORS® .

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Top Producers Presents: Developing Strategies & Accomplishing Dreams February 22 1 p.m. – 4 p.m. @ RRAR 111 Realtor Way Cary, NC 27513

Tax Strategies for The Real Estate Professional March 2 9 a.m. – 11 a.m.

(Breakfast at 8:30) @ RRAR 111 Realtor Way Cary, NC 27513

Free-tomember events

Register at: www.rrar.com/event-view.cfm/id/259 Contact: Betsy Ramsey: 919-654-5400 Sponsored by Meritage Homes Are you ready to move to the next level?

Today is the day to move past yourself and the way you are currently doing things! This seminar will teach you how to become a great sales person.

We will introduce you to DISC the leading personal assessment tool used by over 40 million people to improve work productivity, teamwork, and communication.

Speaker Deno Paolini is owner of Define the Way professional training and coaching.

Register at: www.rrar.com/event-view.cfm/id/212 Contact: Betsy Ramsey: 919-654-5400 This is an easy to learn and fun to apply educational seminar which is guaranteed to identify between $2,500 - $27,500 in NEW deductions that you can use right away to pocket thousands in tax savings. These deductions are based in tax law, but presented in simple English that all of us can easily understand. You will not be buried in legal jargon.

Seminar presented by Kelly Clark of Bradford and Company, Inc. and excerpted from Bradford & Co.

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RRAR events

15 New Member Orientation, 8:30 a.m. to 3 p.m.

Triangle Leadership Academy Class: Leadership Concepts, Tom Martin 8:30 a.m. to 6 p.m.

16 Triangle Leadership Academy Class: Leadership Concepts, Tom Martin 9 a.m. to 6 p.m.

20 Community Service Committee, 11:30 a.m.

21 Triangle International Council of REALTORS®, 11:30 a.m.

Small Brokers Council, 8:45 a.m.

C.E. Mandatory Update, 8:30 a.m. to 12:30 p.m.

February 9 C.E. Mandatory Update, 8:30 a.m. to 12:30 p.m.

C.E. Elective: Foreclosures, Short Sales, REOs, 1:30 p.m. to 5:30 p.m.

2011-2012 Broker-in-Charge Annual Review, 1:30 p.m. to 5:30 p.m.

22 Property Management Council, 11:30 a.m.

April

15 Small Brokers Council, 8:45 a.m.

1 Triangle MLS 2nd Quarter User Fees Due

16 New Member Orientation, 8:30 a.m. to 3 p.m.

21 Community Service Committee, 11:30 a.m.

3 Commercial Mandatory Update & Elective, 8:30 a.m. to 12:30 p.m., www.tcar.com

22 Top Producers Free National Speaker Event, 1 p.m. to 4 p.m.

4 Women’s Council of REALTORS®, 8:30 a.m.

23 TCAR Showcase, speaker: Bob Geolas, President of RTP, www.tcar.com

5 New Member Orientation, 8:30 a.m. to 3 p.m.

Top Producers Council, 11:30 a.m.

11 Continuing Education with Bill Galagher, 8:30 a.m. to 5:30 p.m.

March TBD Successfully Selling HUD Homes 1 New Member Orientation, 8:30 a.m. to 3 p.m.

13 Triangle REALTORS® Leadership Academy, 9:00 a.m. to 5:00 p.m.

C.E. Mandatory Update, 8:30 a.m. to 12:30 p.m.

16 REALTOR® Foundation of the Triangle Board Meeting, 12:30 p.m.

C.E. Elective: Protecting Client Interests in Virtual World, 1:30 p.m. to 5:30 p.m.

Broker-in-Charge Annual Review, 5:00 p.m. to 9:00 p.m.

TCAR Frontier Awards, speaker: Ron Francis, Carolina Hurricanes, 8 a.m. to 10:30 p.m., www.tcar.com

17 Community Service Committee, 11:30 a.m.

2 FREE Tax Strategies for the Real Estate Professional, 8:30 a.m. to 11 a.m.

19 New Member Orientation, 8:30 a.m. to 3 p.m.

18 Small Brokers Council, 8:45 a.m.

26 Continuing Education with Stacey Adfindsen, 8:30 a.m. to 5:30 p.m.

7 Women’s Council of REALTORS®, 8:45 a.m.

8 Technology Fair: Let the Good Times Roll, 9 a.m. to 4 p.m.

28-29 Nationwide Open House

14 Orientation Dinner for Leadership Academy Class of 2012, 5 p.m.

REALTOR Review ®

Events will be at RRAR offices unless otherwise noted.

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