Archive for June, 2010

Oil spills and Real Estate
Politics aside, the BP Oil Spill in the Gulf of Mexico is having a ripple effect through the entire economy. Real estate doesn’t exist in a bubble and the mess in the gulf is proof positive of this. You see it all boils down to capital and the allocation of capital and the free flow of capital. Right now and for the foreseeable future, capital will be tied up in areas of than real estate.
Two weeks ago the phone started to ring, in the course of two days, four people inquired about my residential real estate listings here in the Triangle of North Carolina. Sadly, none of these people were interested in buying homes. They were all, leaving everything behind in Florida and starting over; they either wanted to rent or rent to own. Like the dust bowl of the Great Depression all of these people related to me that they were cutting their losses and getting out of the area to protect their health and the health of their children.
Here’s the capital tie up. The real estate market in Florida crashed about four years ago, people were short in the values of their homes, and they owed more than those homes were worth in many instances. The real estate market in the gulf regions of Florida had started to recover on a slow mend back to “normal.” Normal is still a far cry from the boom of five years ago. Realistically capital in real estate was pretty nonexistent; people didn’t have equity to sell their homes, incur moving expenses and purchase new homes, but there was a light at the end of the tunnel. Little did any of us realize that light was a freight train guised as a massive oil spill in the gulf, which let any air left out of an already deflated real estate balloon. When folks feel the need to cut and run and leave everything behind there is going to be a heck of a cost incurred.
Pundits are fast to point out all that’s changed in the Gulf of Mexico and the Gulf States of the US. So, I’ll pundit too; real estate has changed in that region and the effects will ripple across our economy and perhaps a worldwide economy.

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One Year H.S.A. Warranty w/ $100 deductible. This home sited on 2.4 wooded acres sparkles through and through. The rear yard is partially fenced providing a safe play space and who wouldn’t love the low traffic cul de sac. Through out there is fresh paint, freshly cleaned carpets, sun filled living spaces, two huge master suites both up with private baths. Attached to one suite is a large office area. A two tiered deck at the back of the home makes for a great outdoor gathering spot and the sunken living room with masonry fireplace is warm and inviting. Want to see inside, call or text today, 919-608-2372

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Michael Sullivan | Fonville Morisey Realty | (919) 416-2254
23 Prestwick Place, Durham, NC
3BR/2BA Condo
offered at $114,900
Year Built 1983
Sq Footage 1,435
Bedrooms 3
Bathrooms 2 full, 0 partial
Floors Unspecified
Parking Unspecified
Lot Size 1,307 sqft
HOA/Maint $0 per month


Ready to move into within minutes of Duke and the VA Hospital.
see additional photos below

– Central A/C – Central heat – Fireplace
– Living room – Dining room – Refrigerator
– Stove/Oven – Basement – Washer
– Dryer – Laundry area – inside


– Lake


– 5 Minutes to Duke, 15 to UNC

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Contact info:
Michael Sullivan
Fonville Morisey Realty
(919) 416-2254
For sale by agent/broker

powered by postlets Equal Opportunity Housing

Posted: Jun 17, 2010, 7:28am PDT

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From Chapel Hill to Raleigh fine homes, townhouses and condominuiums in a variety of price ranges. For more details and information visit the Team Michael Sullivan web site.

If we don’t have a home listed that suits your taste or needs we promise that we can find one in our multiple listing system.

Call or text today 919-608-2372

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Wow, this townhouse will not disappoint, in a word it is stunning. The entry way, breakfast room, kitchen and half bath are adorned with a colorful yet tasteful floor tile. The kitchen is a cook’s delight with white cabinets, an arch to the dining room, lovely light fixtures and top of the mark appliances. Additionally a brand new microwave oven has been added above the gas range.

The living room and dining room are tastefully decorated with stunning laminate flooring and a color palette which is warm and inviting. Imagine relaxing after a days work in front of a gas burning fireplace or sipping a glass of tea on the covered rear porch.

Upstairs each bedroom has new wall to wall carpet, new paint and top of the line ceiling fans. The master bath with its wall of windows between the bedroom and bath and between the bath and outside floods the space with natural light.

The current owner of this home has added wonderful landscaping to the front, there is just enough garden, but not too much.

4100 Five Oaks Dr.#43 is just a short walk to the Five Oaks Club where swimming, tennis, yoga, a lake, a dog park and many weekly events can be enjoyed by all members of the community.

4100 Five Oaks Dr. Durham NC 27707 is roughly 7 miles to UNC- Chapel Hill and 7 miles to Duke University. We are delighted to sit right along the world-famous Tobacco Road best known for its exciting NCAA Basketball rivalry. Additionally we are roughly 15 minutes to Research Triangle Park and Raleigh-Durham International Airport. Five Oaks is on a bus line and shopping and dining are an easy walk from the neighborhood.

Call me or text me today at 919-608-2372 and I’ll show you what makes Five Oaks so special.

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615 and 616 Edenberry Drive Durham NC 27713

Visit TeamMichaelSullivan.com for property details

Come out Saturday June 12, 2010 from 2-4 pm to see these wonderful homes.
Need directions or more information, call or text Michael at 919-608-2372 email is good too, MSullivan@fmrealty.com

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Durham NC Open House Saturday June 5th, 2010 from 2 until 4pm
4124 Pin Oak Dr. Durham NC 27707
Come out and see this lovely townhouse with a one car garage.
For additional information phone or text Michael at 919-608-2372 or email MSullivan@fmrealty.com or visit www.TeamMichaelSullivan.com or www.TeamMichaelSullivan.net

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