Abberly Place Blog

The summer may be drawing to a close, but in North Carolina that’s okay, because our weather stays great, and our sports are about to begin. Without a professional baseball team, once the Carolina Hurricanes are done for the season, we settle in for a long sports drought.

But it is time to get the team schedules out, and set up the get-togethers and the fantasy football teams in your apartment in Raleigh, NC.

This weekend is game one of preseason against the Giants, and we are all looking for a better season than last year and everyone is excited to see how Cam Newton plays. September 11th is the first season’s official first game at the Cardinals. Keep your fingers crossed. This could be the year, right?

And of course, Isaiah Hicks signed with the TarHeels, but that isn’t until 2013. The Tarheels are a little closer to home, at the University of North Carolina. Also, for fans overall, college basketball has been a bit more fun and easier to watch than the NFL.

So buckle up North Carolina, we’re in for an interesting ride. We’re ready for some football.

When deciding whether to rent or buy, you are making the choice to rent an apartment home or renting the capital needed to buy a home. Most Americans don't consider that they are renting equity (from the bank) to buy a home. As you are aware, very little equity is built in the first few years of paying a mortgage. Many people are surprisingly still very unaware of this fact.

This following article explains how renting is financially better than buying in about 75% of cases!

For the Past 30 Years, Renting Was Generally Better Than Buying

If homeownership is the American dream, then the nation had better wake up. That's the message from a new research paper that examines whether buying or renting a home was a better financial decision over the past 30 years. Most would find the result surprising: over the period Americans were better off renting between 65% and 75% of the time, depending on the investment alternative.

The article essentially looks at eight-year periods and assumes that a person invests the money he or she saves by renting. Since buying is generally more expensive than renting, renters have extra money to invest. It also makes a number of assumptions favorable to homeownership, including gains from the mortgage interest tax deduction, the option to refinance, and the ability to walk away -- loss-free -- from an underwater mortgage. Still, renting wins approximately three-quarters of the time.

The staff at economic research organization e21 explains why this result actually shouldn't be so shocking:

Counter-intuitive as the finding may be to some, it is actually quite logical. Unless someone possesses the cash necessary to buy a residence, he or she will be renting one way or another. The choice is between renting the property directly or renting the capital necessary to buy the property. The amount of capital to be rented is a function of house prices, while the bulk of a mortgage payment is interest, which is the rental payment on this capital. After 2 years, the typical 30-year amortizing mortgage balance has been reduced by less than 3%. This means that a household that took out a $300,000 mortgage with a 5% interest rate to buy a home has only reduced its mortgage balance by $8,600 after two years despite spending nearly $39,000 in total over this period.

Housing advocates may respond by pointing out that at least the $8,600 in this scenario went towards home equity rather than simply being squandered on rent. But, as demonstrated in the Real Estate Economics article, the principal component of each mortgage payment - i.e. the portion of the mortgage payment that goes towards reducing the principal mortgage balance instead of interest - is an added expense renters don't have.

This turns the real estate industry's biggest talking point on its head: you aren't throwing rent into the wind each month, you're casting away equity.

Of course, that equity also provides a potential benefit. The analysis's eight-year rolling methodology appears to miss the biggest reward of owning a home: living rent-free once the home is paid off. After that 30-years is up, the longer a family remains in that home rent-free, the more buying pays off. Taking this into account would almost certainly change the result in some, if not all situations. Renting may be a better option initially, but there's no eventual reward.

An important point still needs to be made here: buying a home that you don't plan to live in for an extended period of time probably isn't a great idea. The rent you pay in the form of interest on a 30-year loan for five or even 10 years won't be any better than if you had just rented outright. But if you're planning on living in a home for 30-plus years, then you could potentially get some benefit from buying rather than renting.

Original article by By Daniel Indiviglio, The Atlantic

This Saturday there will be an arts-and-music festival to help victims of the Raleigh tornadoes that struck this spring. The ComeUnityNow street festival will be at City Plaza and Fayetteville Street in downtown Raleigh from 10 a.m.-10 p.m. on Saturday.

This festival has been created to encouraged  unity.

The festival's theme of unity will be displayed through all aspects of the event. For example, bands will play 15- to 20-minute sets, and then remain on stage to play a bit with the act that follows. The bands are going to jam and improvise with other musicians they've never practiced with before - it's bands working together.

Street artists also will be painting what they see before them at the event - not just bringing works from their studios to sell.

More than 30 local bands, musicians and dancers will perform throughout the day on two stages. Some of the acts include the Mary Selvidge Band, Outside Soul, Monika Jaymes, Bull City Syndicate, BushHawg Band, Colandra McDowell and Bernard Harris.

Oil and watercolor painters and clay sculptors will be crafting their art along the street during the day. At the end of the festival, the pieces will be sold in a silent auction.

A Kids Zone will have inflatable play areas and carnival games. There is also a parade scheduled at noon on Fayetteville Street to honor first responders and disaster relief workers. A misting tent will provide refuge from the heat.

The event is free, but special VIP music tickets will cost $10 for adults and $20 for a family of three or more. Discount cards for merchants will be on sale for $20.

This Saturday, hit the streets and have fun, while helping to support those whose homes, businesses and apartments in Raleigh, NC were damaged this past spring by the tornadoes.

The combination of high temperatures and high humidity will cause heat indexes to soar, making it feel 105 degrees or hotter in Raleigh especially tomorrow and Friday.

If you live in an apartment in Raleigh, NC, be aware of your neighbors, and take an extra dip in the pool to stay cool. Take caution while outdoors to avoid heat illnesses.

A common sense approach to the heat can reduce heat-related problems, especially for the elderly, the very young and people with respiratory ailments. These folks are more susceptible to the effects of high temperatures.

Here are some tips to follow during hot, humid weather:

• Slow down, avoid strenuous activity. Do not try to do too much on a hot day.
• Wear lightweight, loose-fitting, light-colored clothing. Protect your face with a wide-brimmed hat.
• Drink plenty of water regularly and often, even if you do not feel thirsty.
• Limit intake of alcoholic beverages.
• Eat well-balanced, light, regular meals. Avoid high protein foods that increase metabolic heat.
• Stay indoors as much as possible.
• If you do not have air conditioning, stay on the lowest floor, out of the sun.  Electric fans do not cool the air, but they do help evaporate perspiration, which cools your body.
• Go to a place where you can get relief from the heat, such as air conditioned stores, libraries, theaters and other community facilities that may offer refuge during the warmest times of the day.
• Check with your community for information about possible local "cooling centers."
• Cover windows that receive morning or afternoon sun with drapes, shades, awnings or louvers. Outdoor awnings or louvers can reduce the heat that enters a home by up to 80%.
•  Avoid too much sunshine. Sunburn slows the skin’s ability to cool itself. If you are outside, use sunscreen lotion with a high SPF.
• Never leave children or pets alone in a closed vehicle.
• Check on family, friends and neighbors.

Your apartment in Garner, NC is the perfect place to make friends and meet people in your community. And it is the perfect season for it too.

Get outside and enjoy the pool. If you are new to the area and don’t know anyone, or if you just want to meet others, this is a great place to start. Every day, members of your apartment community are at the pool beating the heat. Get an impromptu game of water polo started with people you don’t know. A fun game is a great way to break the ice.

Get outside and enjoy the grill area. Grill up some finger foods or fun appetizers and invite passersby to have a taste.

If you enjoy cooking, or want to try some fun recipes, start a supper club. Put up a community post and see if there are any others who would like to join. Alternate each dinner night in different apartments within your community. Have themes if you’d like, such as seafood night, appetizers and wine night or Mardi Gras.

Be creative in how you try to meet people. There are surely others who want to meet the neighbors too.

The Triangle area of North Carolina is a beautiful community with amazing job opportunities. Not to mention, there are so many things to see and do.

The Best Place to Live and Work in the Nation, the Best Business Climate, the Best Place in the US for Educational Opportunities, these are just a few of the many national and international accolades that Raleigh and the Research Triangle have received from publications that include Money, Fortune and Time Magazines.

A recent survey showed an astounding 96% of newcomers with children said they would move to the area again if they had it to do all over again.

“With a population aeound 300,000, Raleigh may be a city, but it lives like a small town, with shaded pedestrian streets, more than 153 park sites, historic cobblestone streets with period lighting and sidewalk cafes."  Greenwich Post.

While relocating can be challenging, at Abberly Place, we can help.  We can help you find an apartment in Raleigh, NC in our beautiful community, with many amenities at the right price.

Summer vacation is now upon us in Garner, North Carolina. Sometimes it's hard to come up with different activities to keep the kids happy and the parents from going crazy. As much as your kids will tell you they can't wait for summer, the words "I'm bored," inevitably cross their lips – sometimes sooner than you think! While children do enjoy the freedom that comes with the summer months, and playing at the Abberly Place pool is a blast, they still like to have a little structure to their fun. This summer, more than ever, families are trying to stick to a budget while still having fun with their kids.

North Carolina is full of great mountain hikes. Most are free, so grab the kids and head out.

Stone Mountain State Park
Stone Mountain, three hours west of Raleigh, is a family favorite for hiking. Not only does it have the mandatory waterfalls that make a hike in most kids’ mind, it also has a sliding rock for cooling off. Trails range from 1 mile to 4.5 miles and are ranked as moderate or strenuous.

Catawba Falls
Located on Catawba River Road in Old Fort (off I-40 at exit 73) and four hours west of Raleigh, Catawba Falls Trail is a great hike to the picturesque lower Catawba Falls. This hike involves water crossings, so wear appropriate shoes and be prepared to go knee-deep if it has rained recently. The moderate-level hike is about 2.5 miles round-trip.

Linville
Linville is three and a half hours from Raleigh, with its outdoor outlet mall, fudge shop and great restaurants. One of the favorite hikes is at Linville Falls near Blue Ridge Parkway mile marker 316. The falls are gorgeous, and if you park at the visitor's center, the hikes aren't bad. All five views of the falls are within a 4-mile (various difficulty levels) hike. Public restrooms and a picnic area are available at the visitor's center, as well as plenty of space to run around and a river to soak your feet.

Your retirement years are a time to improve your golf game, take up a new hobby, or just enjoy a well-deserved break. Raleigh Durham was ranked in the top 25 places to retire. And, you can expand your intellectual horizons too.

The Durham area would rank as a retiree Mecca even without Duke University's stellar lifelong-learning program. Residents enjoy four seasons that are not too extreme. There are beautiful places to live, the area is dotted with golf courses and parkland, and the region is home to a renowned university medical center.

The Raleigh Durham area is also a budding cultural haven. Duke's Nasher Museum of Art has a growing contemporary art collection. Concerts and Broadway hits, such as Billy Elliot and the Lion King, frequently make their way to the newly built 2,800-seat Durham Performing Arts Center.

Duke's 33-year-old senior learning program is one of the largest in the country, with more than 1,500 members. There are 100-plus courses offered every term. Plus, because most courses are offered on campus, members can mix with the younger generation in the student center, libraries, and dining halls. At the same time, 25% of the population is over 50.

Original article on CNN Money

Father’s Day is quickly approaching. Since you live in North Carolina, one of the best states for golf in America, and most dad’s love golf… Here's are a few of the best public and semi-private courses in the Raleigh area.  The Triangle’s top three universities offer public access to beautiful and challenging courses of the caliber usually reserved for private clubs.

Finley Golf Course at UNC
Located just south of campus in Chapel Hill. Greens fees range from $30-$82 depending on day of the week and time of play. Great deals are available for weekday and twilight tee times.

Duke Golf Club/ Washington Duke Inn and Golf Club
This rolling golf course, located on the Duke campus, travels into and around the Duke Forrest. Meet after the game at the Washington Duke Inn. This is a Robert Trent Jones course. Triangle residents receive special rates.

Lonnie Pool Golf Course at NC State University
An Arnold Palmer designed course with great views of the Raleigh Skyline and NC State's Centennial Campus.

The Preserve at Jordan Lake Golf Club
This semi-private club has won a number of awards including Golf Week’s "One of America's 100 Best Residential Golf Courses." Winner buys lunch or dinner at the Grille after the game.

Falls Village Golf Course
This Raleigh course give the feeling of playing in the great outdoors with no one else around.

National house prices have dipped in 19 of the 20 largest metro regions, and declines in house prices are expected to continue given the 1.9 million in backlogged foreclosures. As the American economy shifts from buying to renting, with the number of renting households rising by 700,000 annually -- according to a USA Today analysis of Census data -- the number of homeowners fell by nearly 200,000 per year. Unemployment rates remain high and wages are down, which makes it more difficult for people to buy a house and prompts them to rent.

A number of studies continue to show that renting is better than owning for many Americans, with a house being a poor investment compared to renting and investing in inflation-adjusted Treasury bonds. In the paper "American Dream or American Obsession?," Wenli Li and Fang Yang from the Philadelphia Federal Reserve Bank concluded that the "adjusted real rate of return on housing actually falls below zero," and the national rate of return for homeownership between 1975 and 2009 was 1.3 percent, below the 3.375 percent return for stocks.

Home ownership translates into less money available for investment and owning a house limits mobility should a new job opportunity arise elsewhere. Some economists have even suggested that high home ownership rates correlate to high unemployment rates. Declines in house prices could make it difficult to sell if the house is worth less than its mortgage. Not everyone should own a house, and the recession has helped eliminate some of the stigma once associated with renting, now that 70 percent of Americans now agree that renting has its advantages over owning.

Article from National Multi Housing recent release