New Home Inventory Continues To Fall

We could spend days and even weeks blogging about the past challenges of the real estate market (who wants to live in the past though) but one of the simplest reasons for the problems was the supply vs demand factor.  When the housing market was booming demand was high so supply kept getting pumped out.  Well when that demand stops you obviously get to a point where there is just to much supply.

Well a recent April 24 press release from the National Association of Home Builders told us that we are going in the right direction as new home inventory continues to dwindle which is a good sign for builders and the overall real estate market.  Below is an excerpt from the release that shows some of the figures:

-The number of newly built, single-family homes on the market declined for a 23rd consecutive month in March as builders focused on winnowing down their inventories of unsold units, according to new-home sales data reported by the U.S. Commerce Department today. Inventory shrank to 311,000 units, which is a 10.7-month supply at the current sales pace.

“Builders are doing a great job of thinning the supply of unsold homes and positioning themselves for a slow but steady housing recovery,” noted NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “Today’s numbers are a welcome sign that the market is stabilizing as some of the best home buying conditions in a lifetime are drawing consumers off the fence and back into the market.”-

Biltmore has some great inventory homes available as click here to view all our homes that are ready for move in today!  Overall we are very excited about the pick up the market has seen the past 30 days and are gearing up for growth the rest of 2009 and into 2010!

If you are in the market for a new home now is the time to buy so contact us and let us know how we can help you get into your next dream home!

Built For Life!

- Team Biltmore

Live Where Growth Happens!

Maybe this economic recession has got you down and you are looking for a place to go where "growth happens"!  Well look no further then Raleigh and the Triangle as Forbes magazine just named it the fastest growing metro area in the nation!

If you are looking to relocate to Raleigh and the Triangle then Biltmore Homes would enjoy working with you on your next dream home.  As a local custom builder we have the knowledge, passion, quality and floor plans to deliver the house you want at the value you need.  Whether it be a showcase inventory home or you want us to build exactly the home you want we are ready to deliver on those new home dreams!

Contact Biltmore and let us know how we can help as we look forward to you being part of the fastest growing metro area!

Built For Life!

- Team Biltmore

Here is an excerpt form the recent Forbes article:

Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers--even if it's at a slower pace than in more sound economic times. These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability.

Behind the Numbers 

To determine the fastest-growing metro areas in the country, we used 2008 population estimates for metropolitan statistical areas with a population over 1 million, released March 19, 2009, by the U.S. Census Bureau. MSAs are geographic entities defined by the U.S. Office of Management and Budget for use by federal agencies in collecting, tabulating and publishing federal statistics.

We then compared the 2008 population estimates to the previous year's data to see which areas had grown the most, percentage-wise.

Nine places fared even better than Denver, though they share similar qualities: more business opportunities, better weather and more affordable housing. The top three areas according to the data are Raleigh, N.C., ranking first, which jumped 4.29% to nearly 1.9 million; Austin, Texas, which came in second, with a 3.77% increase to almost 1.7 million; and Charlotte, N.C., which moved up 3.36% to 1.7 million.

To read the entire article click here.

Wake Forest Meet in the Street Festival - May 2, 2009

If you live in Heritage Wake Forest then you will want to mark May 2 on your calendars for the 29th Annual Meet in the Street Festival.  And if you don't live in Wake Forest then make it a Wake Forest type of day - start by touring some of Biltmore's inventory homes at the Heritage Knoll section of Heritage Wake Forest and then head over to the Meet in the Street Festival. Come by the Biltmore Homes Southhampton model and be sure to let us know you read the blog and you will receive a free Biltmore t-shirt!

Below are the details on the  29th Annual Meet in the Street Festival taking place in Downtown Wake Forest.  Put it on your calendars as Biltmore looks forward to you coming by our Heritage Knoll model that weekend!

Date: May 2, 2009

Time: 10:00 AM - 04:00 PM

29th Annual Meet in the Street® Festival - A Celebration of Art and Artisans

For 28 years, people in the Wake Forest community have gathered to enjoy one of the largest family-friendly festivals in the region. A crowd of more than 10,000 is expected to descend upon the historic business district of Downtown Wake Forest for the 29th Annual Meet In The Street® on Saturday, May 2nd. The event is held from 10:00am-4:00pm and is free and open to the public.

While there, visitors will have the chance to acquire some wonderful hand-made arts and crafts. Approximately 100 vendors from all over the Southeast proudly show off their handiwork at Meet In The Street®. You can find beautiful paintings, jewelry and home décor, as well as many unique handcrafted items that make this annual event a celebration of local art and artisans.

Be sure to stop by the Children’s Village. There you will find games and activities. Come with an appetite, as the Food Village will be stocked with all of your festival favories.

The entire family will be entertained by local dancers, singers and musicians on two performance stages. As always, you can meet up with some of the Triangle’s favorite mascots.

Meet In The Street® is sponsored by WakeMed. The annual festival is organized by the Wake Forest Area Chamber of Commerce and made possible by the volunteer efforts of Chamber members. Special thanks to The Wake Weekly for their media sponsorship.

http://www.wakeforestchamber.org/calendar.asp

Live Where National Champions Play!

Okay this post is geared towards those out of towners who are thinking about relocating to the Triangle.  For those of us who already live here then we already "get" how passionate this area is for our college basketball.  And let it also be known that the author of the Biltmore blog is a die hard Tarheel fan so that means I get to scream, yell and gloat that the North Carolina Tarheels are the 2009 College Basketball National Champions.  Team Biltmore is made up of some Wake Forest fans, a Wisconsin Badger fan and some Wolfpackers from NC State but today we celebrate my Tarheels!

So listen up all you potential re-locaters - nothing beats college basketball here in the Triangle.  The first thing you need to do when you move here is pledge your allegiance to one of the Triangle schools - UNC, NC State or Duke.  Then once you pick a team get ready to brush up on a lot of history and get ready for a battle.  Nothing beats rivalry game day - whether it be Duke/Carolina or State/Carolina or Duke/State you can feel the buzz and tension in the air or should we say the sports radio airwaves from the early morning and it lasts with the winning team fan base bragging well into the next day.  The games themselves are great but what is even better is the battle of the fans.  It has been known to get heated but never ugly as everyone who lives in the Triangle deep down is very thankful and lucky to live in the best place in the entire country for college basketball.

So congratulations to the Tarheels and their fans as they currently have all the bragging rights but every new season brings a whole new set of hopes and dreams for all the passionate fans.  So remember the first thing you need to do after moving into your new Biltmore Homes is sit down and pledge your allegiance to one of the Triangle college basketball teams - but choose wisely as who you choose will say a lot about who you are, where you come from and what your Triangle experience will be like!

Built For Life!

Team Biltmore

PS - We have been busy building all through March Madness as the real estate market is picking up so hurry up and get to the Triangle today!