Chapel Hill Real Estate Search

There is a lot going on downtown and if you haven’t been reading about it let me catch you up.

Two of our signature buildings will soon have new tenants - Walgreen’s is moving into the old Gap building next year.  The Clothing Warehouse, a vintage clothing chain out of Atlanta is moving into the renovated building that used to hold Kerr Drug.  Michael Brader-Araje has done a fabulous job in upgrading the building’s facade and the architectural details.  He really performed a community service with that one.

So one of the biggest problems has been downtown parking - and for the Holiday season there will be free parking on Saturdays and Sundays downtown.  A great idea and here are the details.  During and after the annual Christmas parade on December 13th, parking will be free all over downtown.  On the other Saturdays - December 6th, 20th and 27th parking will be free at the meters on Franklin Street and at Lots 3 ( 415 West Franklin) and 5 (141 West Franklin).

So shop local!

Don’t let the rain keep you away - here is a map of the running route.  This is one of the prettiest areas of Chapel Hill and it should be a great morning.  Former Chancellor Moeser will kick things off at 10am from the steps of South Building.  JJ Raynor, the current Student Body President and Katie Sue Zellner, Eve’s chief of staff and dear friend will also speak.

There is a great event taking place this Saturday, the Eve Carson Memorial Run for Education.  It is a 5k starting at Polk Place and running through the UNC Campus, through Gimghoul and back to Polk Place.  You can register in advance for $15, and onsite Saturday morning starting at 8am for $20.  Funds will benefit the Eve Carson Fund, Clyde Erwin Elementary School in Jacksonville, NC and First Book. 

We’re excited to start our weekend with this great event.  My wife is going to walk with the kids and I’m going to run it.  It seems there is never a weekend here in Chapel Hill when you can’t fill your schedule with great events, going to a wonderful restaurant, seeing a great sporting event. 

Which reminds me - make sure you cheer for the Tar Heels in their home opener this weekend against Penn.  4pm tip off at the Smith Center.  Tyler Hansbrough will most likely not play this game, but it’s better that he rest a bit more and get that leg better.  I’m looking forward to a great season here in Chapel Hill.

And….if you have a Chapel Hill real estate question (and who doesn’t these days?), call me, Reg Morgan.  Your Chapel Hill realtor with over 2o years of experience in buying and selling houses.

This might be a reach, but I think the Tar Heels success on the football field is going to translate into an upswing for our local real estate market.  Yes, it is slow right now, but think about it, if Butch Davis and his crew can possibly win their division, then our market can bounce back!  Call Reg Morgan, your Chapel Hill realtor for more information on our market.  We have been surprisingly resilient given the national news, but still not up to our usual strength.

Go Heels, look for a big win against Maryland this weekend in College Park and don’t forget to cheer them on at Kenan Stadium against State on November 22nd, kick off is at noon.

The new development on East Main Street got its official go ahead last night from the Carrboro Board of Aldermen.  Good thing too, since the developers of 300 East Main, led by Laura Van Sant have jumped through many hoops and don’t deserve to be held up any longer.

One criticism I genuinely don’t understand comes from the folks that say that area of town needs to be protected - we don’t want it to lose it’s Carrboro charm.  Have they walked around there lately?  Or driven through there??  What is charming about Surplus Sid’s or the KFC?   This development looks like a great addition to the town — architecturally and for our tax base!  

Demolition could start by the end of the year, with construction moving forward in 2009.  This Carrboro realtor says go, go, go!

Today I want to talk about a subject that is near and dear to our hearts!  Property Taxes!!!   I have been a member of the Orange County Board of Equalization and Review since 1993.  This is the appointed body that oversees the assessors numbers - our tax values.    The assessed value of your home and the market value are two very different numbers derived and used for different purposes. 

The Assessed Value:  The value of a property according to the tax rolls in ad valorem taxation.  May be higher or lower than market value, or based on an assessment ratio that is a percentage of market value. 

Market Value is a type of value, stated as an opinion, that presumes the transfer of a property (ie a right of ownership or a bundle of such rights) as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal.  

The assessed value will be established using market data.   The assessed value will be value from January 1, 2009 forward for the next four years and when applied to the tax rate will determine your taxes.  The tax rate will change annually thereby raising your taxes.   However, the tax rate drops after a revaluation.  In Chapel Hill from ‘04 to ‘05 the rate fell from 1.655 to 1.5484 and from ‘00 to ‘01 from 1.727 to 1.551.   In Carrboro the rates will be slightly higher (bummer) but the rates will also drop year to year in a revaluation year.   So your assessed value will go up but your tax rate will go down generating a modest, so to speak, increase in your taxes.  

Call me, Reg Morgan, your Chapel Hill realtor if you have questions on home values in your Chapel Hill neighborhood.

Well, this is about the best thing we can say about today - they set the game time for the Carolina - Notre Dame football game.  Kick off will be at 3:30pm at Kenan Stadium on Saturday, October 11th.

I can’t imagine where the market will be then, but I know that Chapel Hill will weather the storm.   If you have questions about your place in these tumultuous times, call Reg Morgan - your Chapel Hill realtor with over 20 years of experience buying and selling real estate. 

Go Heels!

Chapel Hill has some really great restaurants - but where to get a great on-the-go sandwich?   Here are some ideas from someone who doesn’t have much time for the two hour lunch!

Neal’s Deli in Carrboro is already a treasure.  Right next to the Open Eye Cafe, with its award winning barristas.   Their menu changes everyday - but if you are lucky you can get amazing pastrami and their muffuletta is extraordinary.

Now here for my absolute favorite - Sandwhich in the Courtyard on Franklin Street.  Although parking can sometimes be a problem, it is worth it for their tuna salad with thick slabs of crispy bacon.    My mouth litterly waters when I think of it.  (and now I know where i’m taking my 2 year old for lunch after preschool today).    As the weather gets cooler, I also dream about their meatloaf sandwich with fresh beef from Niman’s Ranch.   Add in great salads and soups and you are set for a banquet!  

The staff is great and you can sit out in the Courtyard by the fountain on a sunny day.    They have thick chocolate brownies for dessert or stop off at LocoPops for a treat after lunch.

Bon Appetit!

What a week - and it is only Tuesday.  Right about now we are wondering whether to sell my wife’s old Lehman Brothers swag on EBAY?   We have lots of bags and hats from my wife’s work at Lehman Brothers in the 90s.  It’s sad to see so many people lose money, savings, jobs.

But here in Chapel Hill, we still have a vibrant real estate market.  Unlike NY, New Jersey, Westchester, Long Island real estate, we are stable with our engines running along, thanks to the Universities and our solid RTP businesses.

If you are making a relocation plan, now is the time to talk to a Chapel Hill realtor with over 2o years of experience in buying and selling real estate.  I was a realtor in Connecticut and I know that challenging market.  

Come for a visit or contact me, Reg Morgan, your Chapel Hill realtor.  I’ll send you a relocation package and get you started on living a Carolina dream!

Here it is - the 2008-2009 basketball schedule for the UNC Tarheels.   I believe this is the year for the championship.

The season really heats up early with the home game against Kentucky on November 18th at the Smith Center.

Check out the whole schedule here. 

If you are looking to relocate to Chapel Hill, there’s no better reason then…great college basketball!   Call a Chapel Hill realtor with experience in our market, who knows the neighborhoods, the schools and the basketball team!  Call Reg Morgan.