Monday, August 29, 2011

Hurricane Irene Debris Disposal

Condo lovers enjoy this time of year because they are completely validated in their lifestyle choice to leave the yard behind. Events like Hurricane Irene make anyone living within a few feet of a tree very nervous. Single family homeowners likely spent this past Sunday picking up the debris that was strewn through the yard by Irene's gusts of wind. Homes with mature trees and tons of limbs may not have enough trash cans to fit everything. So, what to do? Well, fear not, for the City of Raleigh Solid Waste Services just sent out instructions:

The City of Raleigh Solid Waste Services Department requests that residents prepare their vegetative storm debris per normal yard waste collection guidelines (limbs no longer than 5' long, 18" diameter, weighing no more than 75 lbs.) and place it out on their regular collection day. The materials can be prepared and put at the curbside (not in the street) as the residents clean up their property and they will not receive a code violation between now and September 6, 2011. For large amounts of vegetative debris that cannot be prepared according to the guidelines residents may put the materials at the curbside and call for a one time free Special Load collection. The normal $50 fee for this service will be waived through Tuesday, September 6, 2011. Beginning Wednesday, September 7, 2011 fees will resume. Residents must schedule this pick up by calling 996-6890.

Area residents and businesses also may carry their debris to the City of Raleigh Yard Waste Center, 900 North New Hope Road. The normal fees will be charged.

Thursday, August 4, 2011

Downtown Raleigh Market Report - Q2 2011

We're halfway through the year, and so far the numbers are looking good. Have we hit bottom? Possibly for volume, but It may be too early to tell for pricing. After recently attending the TBJ State of Real Estate event, it seems that a slow and steady recovery is what to expect. And that's what Q2 shows us for the sub-market of Downtown Raleigh residential real estate - stable and steady sales.

Are we done with auctions?

While the Quorum auction contributed to the sales volume in Q2, it was only 20% of sales, proving that demand still exists for condos outside of special promotions. Overall, a total 45 units sold in Q2, more than second quarter last year. While sales seem to be picking up, there is still a bit of inventory.

How does Downtown Compare?

The TARR Report shows that condo sales are down from 2010 both in Wake county and ITB, but Downtown Raleigh condos have fared much better. See the full report for details.