Triangle real estate market update

We are getting into summer and our vegetable garden is thriving. The local housing market hanging in there and is tracking about the same as it has for the last many months.   The local numbers are in for May 2024 and here is what is happening: The average price of single-family homes continues to increase and available homes for sale remains low. The mortgage rate for a 30-year fixed is not changing much, staying above 7%. Consequently, current homeowners holding mortgages with significantly lower interest rates have been reluctant to sell.   I do not expect significant home price decreases as long as listing inventory remains low. Here is an update for the end of May: A year ago, the average sale price of a single-family home in the Triangle was           $518,575 and increased $ 17,798 to $ 536,373 by the end of May.

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Monthly Inspections Report: May 2024

The Wake Forest Inspections Department issues a monthly report about all new building permits and new businesses. The department issued permits for 40 single-family houses, 51 townhouses, 14 multi-family dwellings, and one swimming pool. There were five fit-up inspections and 11 pre-occupancy inspections. Fit-ups: UPS Store at 12520 Capital Boulevard, 401 Sweets Boxing Gym, 1839 S. Main Street, 374 Mavis Tires & Brakes (old NTB), 2200 S. Main Street Wake Forest Plastic Surgery, 3319 Heritage Trade Drive, 201 Five Guys Restaurant, 535 NC 98 Bypass, 110 Preoccupancy: Katie Dunn Massage Therapy, 10520 LIGON Mill Road, 112 Cook Out (for power only), 11690 Northpark Drive Divine Holistic Wellness, 500 Wait Avenue, 02 Flora Fauna WF, 12247 Capital Boulevard Myra’s Angels Foundation, 12339 Wake Union Church Road, 103

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The Growth Rate

Based on the March 2024 Monthly Development Report, WF Planning Updated May 29, 2024 Hooray! The March 2024 Monthly Development Report is available on the Wake Forest Planning Department page — and it is a bit of a disappointment. Only one new project — the special use permit for a Whataburger on the NC 98 Bypass in the Wegman’s project — and one deletion — the Christ Our Hope church under construction on North White Street. The updated Wake Forest population as of July 1, 2023 was 56,681. That figure included the new homes which were approved for occupancy. When all the currently approved apartments, townhouses and single-family homes are built the population will rise to 69,956. The town keeps a running tally of approved projects with counts of those completed. The best inspections current estimate is that between seven and eight people move to town each day, moving into

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Board delays curfew vote, questions tax rate

The Wake Forest town commissioners waffled and questioned and finally kicked the can down the road, deciding not to vote on a teen curfew during Friday Nights on White. The vote to postpone the curfew vote until their June 18 meeting was also divided four to one with Commissioner Nick Sliwinski voting no. The curfew ordinance would have established an 8 p.m. curfew for unsupervised minors under the age of 18 during Friday Night on White. Tuesday night’s work session on June 4, 2024, was lengthy — two hours — and filled with facts, beginning with the lengthy PowerPoint about the proposed 2024-2025 budget and its 42-cent tax rate. Michelle Daniels, the budget and performance manager, explained the various parts like the additional $1 on the town’s monthly solid waste fee and the new stormwater fees based on each property’s impervious area. After the county-wide property revaluation, the town’s tax

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WF Power launches new online outage map

Wake Forest Power has launched a new online outage map and reporting tool that makes it easier than ever for customers to report power outages and receive real-time information about power interruptions. The outage map and reporting tool are accessible from www.wakeforestnc.gov/wake-forest-power and provided as a function of the Town app (under Wake Forest Power). When a power outage occurs, the interactive map will show a red dot in the approximate location of the outage, along with the number of affected customers and the current duration. The size of the dot will correlate to the size of the outage and will show outages of any size, even those that affect just one customer. As an added benefit, the new outage map includes a “Report Outage” button (in the top right corner) customers can click on to quickly report an outage in their location from their computer or smart phone. For WFP customers

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Reader confirms Underpass build date

Last week a Gazette reader sent in an email and two contemporary print articles about the construction of the Underpass. The dates were in 1936. The first, a paragraph in the Raleigh News & Observer for May 8, 1936 read: “Construction on the underpass which is to run under the Seaboard Railway tracks on the east side of the Wake Forest College campus is well underway. Resident Engineer S.O. Southall says the project will be completed around November 15.” The second was from the “WF College Alumni News Dec 1936” and included a picture of the Underpass. “Here is new railroad underpass which has just been opened to traffic. You are looking at the east wall of the campus. “Traffic now goes through Wake Forest over State highway number 91 leading to Wendell and Washington, and highway number 94, leading to Spring Hope. “The underpass has been under process of

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Saving money and saving souls

Last week we talked about the two banks in Wake Forest during the 1920s that had been begun by local businessmen, the Bank of Wake by T.E. Holding and Citizens Bank by W.C. Brewer. There was a third financial institution in town – and it has endured and grown. The Wake Forest Savings and Loan Association was begun on Jan. 5, 1922, with seven charter members: S.W. Brewer, I.O. Jones, R.M. Squires, J.M. Brewer, W.J. Harper, F.W. Dickson and F.J. Duke. The directors were J.H. Gorrell, president; R.M. Squires, F.W. Dickson, George E. Gill, S.W. Brewer, W.W. Holding Jr., W.D. Holliday, J. W. Nowell and George H. Greason. T.E. Bobbitt was the secretary-treasurer and John G. Mills Sr. was the attorney. Last week we also talked about Wake Forest Baptist Church and the predominant role it had in the town’s social and religious life. But there were other churches, and

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What I am wondering, worrying about

Next week on Wednesday, June 12, DOT will hold a hearing to explain where they are in placing what they call a mobility hub, what I call a station, in the footprint (?) of the original Seaboard Airline freight station in Wake Forest. It was a great boost to the local economy — getting and sending commodities like baled cotton. The town even had an official cotton weigher. I hope some history buff will be able to find how long that position lasted and what are the names of some. But that is not the current concern; my concern is the 67 parking spaces in and around the current town-owned parking lot with two handicapped spaces. I use one almost every week on a Friday or Thursday or even Saturday. What I have observed over more than a decade is just how much the patrons of the next door and

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New Amtrak station in WF Downtown?

As part of the S-Line Project, the NC Department of Transportation is studying design options for mobility hubs in several communities, including Wake Forest. A mobility hub is a place of connectivity with regional and local multimodal transportation options, providing integrated facilities, amenities, technologies, and services. These hubs offer choices to get users where they need to go, making it easier to transfer from one form of travel, such as walking or biking, to another, such as carpooling or using a bus or shuttle. A Mobility Hub, including an Amtrak station, is proposed for downtown Wake Forest on the site of the former historic freight and passenger rail depot. Details such as space needs, site design, environmental impacts, and accessibility will be analyzed as part of the study. Residents are invited to join NCDOT’s project team to discuss plans for the Wake Forest Mobility Hub during a drop-in open house

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Free seminar on elder abuse on June 12

World Elder Abuse Awareness Day will be observed this year on Saturday, June 15. In support of the day, the Northern Wake Senior Center (NWSC), 235 E. Holding Ave., will host a free seminar on Elder Fraud on Wednesday, June 12, from 11:30 a.m.-1 p.m. Co-hosted by the US Attorney’s Office for the Eastern District of NC, the FBI, and Meals on Wheels, the session will highlight the most common types of fraud and scams targeting the elder community, including what to watch for when it comes to fraudulent calls, texts, and emails. No registration is required. For more information, contact Michelle Scott, Victim Witness Coordinator for the US Attorney’s Office, at 919-856-4003 or USANCE.Victim.Assistance.Training@usdoj.gov. World Elder Abuse Awareness Day (WEAAD) was launched by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations. The purpose of WEAAD is to provide an opportunity for

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