As a real estate agent and a resident of Raleigh and the Triangle, I never get sick of all the awards and honors that this area wins – especially when it is great news about the economy. See the article below from WRAL.com and Forbes as it really drives home why this area is a great place to work, live and play. When times are tough you want to live in a area that is hopeful and opportunistic. Well 4% economic growth in this day and age is definitely reason to celebrate. If you are thinking about moving to Raleigh and Triangle area then there is no time like the present as along with showing economic growth the real estate market remains a buyers market – but this will not last too much longer as my fellow real estate agents and builders I work with are reporting good traffic and more contracts coming in.
Enjoy the article below and if you want to be like recent transplant Edward Appel then let me know as I am always available to help buyers learn more about the area and find their next dream home.
Walking With You Every Step Of The Way
Jenn Nowalk Raleigh Realtor/Broker
RALEIGH, N.C. — Despite the economic downturn, the Raleigh-Cary area grew by more than 4 percent last year, making it the nation’s fastest-growing metro area, according to Forbes magazine.
The magazine rated Raleigh as the No. 1 city where Americans are relocating. Charlotte was third on the list, behind Austin, Texas.
“In the last five or six years, Raleigh has been recognized with a lot of accolades,” said Ken Atkins, senior vice president for economic development for the Greater Raleigh Chamber of Commerce. Atkins said rankings like Raleigh’s three straight years atop Forbes’ annual list of the Best Places for Business and Careers have attracted people as well as attention.
Edward Appel, who recently moved to the Triangle from California to work with HCL Technologies, is one of the latest transplants.
“I first heard about Raleigh from the article in Forbes,” said Appel, a senior systems engineer with the software and information technology development firm. “The fact that there are so many large universities here in close proximity was a great selling point.”
HCL is setting up an office in Cary that officials expect to employ 500 people within a few years. Appel said the area’s low cost of living also helped the Triangle beat out 19 other locations for the new office.
“On the West Coast, we all know that (the) Silicon Valley of the East is the Research Triangle,” he said, adding that he knows people who have moved to Raleigh without jobs expecting to find work in the area.
The Raleigh-Cary area had an unemployment rate of 8.8 percent in February, with a net loss of 700 jobs, as the recession deepened across North Carolina. Statewide, the unemployment rate was a record 11.3 percent in February.
Atkins said other technology companies also are looking to locate or expand in the area, but he declined to elaborate.
“My feeling is that this market is at the bottom. I think that we are going to see some significant new announcements in growth coming up in probably … (the) third quarter of this year,” he said.