Industry News
Construction, brokerage, and land development news that we aim to share with industry professionals, locals, anyone looking to familiarize themselves with Fuller Land and Development. We’re happy to highlight our industry knowledge and we truly look forward to reporting on all of the challenges and lessons that await us.
Fuller Land & Development developed the first phase of Hempstead at Beaver Creek subdivision for NVR/ Mountain Real Estate Capital and Ryan Homes. The first phase consisted of fifty (50) townhome lots, platted in November of 2015. Site work construction on the second phase of seventy-six (76) lots is scheduled for completion by November 2016.
Read more: Hempstead at Beaver Creek Phase Two Development Nears CompletionReal Estate / Land Development Blog Archives
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Growth in Johnston County Housing MarketAccording to the Triangle Multiple Listing Service's Local Market Update, Johnston County has seen a substantial increase in new listings, closed listings and sales prices in 2015. The number of days in the market for a Johnston County home has decreased over 23% and homes will become increasingly hard to find as inventory has dropped over 21% from last year, down to a 3.2 month supply.
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The New TRID - TILA-RESPA Integrated Disclosure
The Consumer Financial Protection Bureau instituted new rules regarding disclosures under the Truth In Lending Act and the Real Estate Settlement Procedure Act that will affect all mortgage applications and real estate settlements. These changes were to take place on August 1, 2015, but were delayed until October 3, 2015 to allow for the industry to be better prepared.
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Triangle Land Forecast Outlook
All "dirt dogs" have the same question as 2015 gets underway - What's in store for the Triangle when it comes to buying and selling finished lots and entitled land? Here's our take.
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Home Buying Can Be Within Reach for First Time Homebuyers
There is a new mortgage option for North Carolinians through the North Carolina Housing Finance Agency - the N.C. Home Advantage Mortgage. With the North Carolina housing market steadily improving and low interest rates, the N.C. Home Advantage Mortgage lowers the barrier many first time homebuyers face: insufficient funds for a down payment.
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Raleigh Named Best City for Raising a Family
Forbes.com ranked Raleigh as the Best City in America for Raising a Family. Raleigh has an economic base led by banking and finance which has made it one of America's fastest growing cities.
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Land Banks - Strategically Rebuilding Communities
If you look at growth patterns throughout history, you’ll see general ebbs and flows of population centers. Expansion and contraction around urban centers leaves some communities with a unique problem - and land banks may be the answer.
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TLF Maybrook donates 38 acres to City of Oaks Foundation
TLF Maybrook donated 38.5 acres of land in Raleigh to the City of Oaks Foundation in December.
We felt like it was the right thing to do given its proximity to Walnut Creek and the greenway
said Jim Anderson, the managing member of TLF Maybrook. -
Jim Anderson Serves as Speaker at UNC Real Estate Development Class
Jim Anderson, President of Fuller Land & Development, was invited to speak at the University of North Carolina’s Kenan-Flagler Real Estate Development Process class in October.
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Wake County Building Permits up 30 Percent
The HBA of Raleigh-Wake County is reporting that building permits for single family homes have increased 30 percent in January through September compared to last year.
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Triangle Entrepreneurs Claim Forbes "Top 10" List
One of three US cities on the list, Raleigh/Durham ranked #1 on Forbes' 10 Up and Coming Cities for Entrepreneurs and Triangle entrepreneurs couldn't be happier.
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Raleigh #7 Best City for 20-Somethings
Triangle building popularity and now Greatist.com has ranked Raleigh the seventh best city for 20-somethings. Although it can be difficult to pinpoint exactly what people in their 20s are looking for in their ideal location, Greatist.com was able to narrow down the list to common themes. Themes included outlets of meeting and making friends, being able to relax and going to a place of employment they love. Diversity, cleanliness and safety also placed highly on the list of necessities.
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Home Sales Rising Above Forecast
"The residential real estate market in the US is on fire," said Brian Jones, senior US economist in New York at Sociate Generale. Lawrence Yun, chief economist of the Realtor Group agrees, "The housing market is too good." With home sales rising above forecast, it will be important to track causes and potential outcomes.
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Bloomburg Names Raleigh/Cary #3 "Boomtown"
Bloomburg released an article on April 29 ranking the top Boomtowns (fastest growing cities) in the United States. To be considered a Boomtown, Bloomburg created a score based on the increase of two major factors- population and gross domestic product- according to US Census data. Only areas with the population of over one million were considered in these rankings. Raleigh/Cary ranked third, while our neighbors to the southwest, Charlotte/Gastonia/Concord, ranked tenth.
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Durham Ranked #1 Best Market for Conservative Investors
Durham, North Carolina was recently ranked the #1 best market for conservative real estate investors, according to the Investor Suitability Report conducted by Local Market Monitor. Originally reported by the Wall Street Journal, then paraphrased by DailyFinance.com, 315 regions were considered during this study. The criteria for consideration included markets where both employment and home prices are relatively stable, with populations having a growing income. Only single family non-rental homes were taken into account.
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Hotel Joins Mix for Delayed Parkside Commons in Cary
The developers of the proposed $135 million Parkside Town Commons project in west Cary are adding a hotel and shifting the focus to more retail versus residential. A new plan submitted to the town of Cary shows that Kite Realty Group, the Indianapolis-based developer of the project, has eliminated plans for office buildings, reduced the amount of small-shop space, changed plans for an apartment complex and added a 140-room hotel.
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Construction Activity Thriving in Texas and the Southeast
Of the top 10 markets with the most single-family construction activity over the last year, six are located in Texas and the Southeast. The ranking table below shows the top 20 markets in the country. We have ranked them in order of the total number of single-family permits pulled over the last 12 months. Tracking metro-level permit trends gives insight into which housing markets are growing and by how much.
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Lennar Makes a Big Move in West Cary
Strength is building in the Triangle’s new homes market, and one of the nation’s busiest home builders is spending an eye-popping $8.5 million on 90 acres of wooded acreage in west Cary. Lennar Corporation paid top dollar for the Roscoe Fryar land on Green Hope School Road. There, Lennar hopes to expand on the sales success of its neighboring communities.
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Triangle Land Rush
Ready lots moving off market, prompting developers to shop for fresh land. Big home builder groups such as D.R. Horton and Pulte Homes are getting back into the land development business as the supply of ready lots begins to diminish across the Triangle.
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A Turnaround Year for New Triangle Homes
By fits and starts, the Triangle home building industry is getting back into a groove of construction starts and sales. Most of the excess inventory of speculative homes that weighed down the market in 2007 and 2008 is gone, and most Triangle home building companies that were polled by Triangle Business Journal expect homes in 2012 to start growing again.
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Builders Flock to Scarf Up Triangle Land for Homes
RALEIGH – Believe it or not, competition is heating up for available home lots throughout the Triangle as home builders from across the nation recognize the Triangle as among the healthiest housing markets in the country.
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Pulte Readies Massive Del Webb Complex
DURHAM – Sales have been so strong at PulteGroup’s Carolina Preserve at Amberly active adult community in Cary that the national homebuilder is making plans to build another massive community under its Del Webb brand.
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Pretend and Extend at an End - Triangle Construction
Wells Fargo’s predecessor company, Wachovia Bank, invested about $99 million with the original triangle construction developers of the two communities to finance the purchase of land and the construction of roads and other infrastructure, according to county records.
