An up-to-date will is one of the most important items to insure that your assets are handled properly upon your death. And, since your home is most probably your largest asset, having a will with each and every paragraph and codicil up-to-date is doubly important to safeguard your real estate investment.

Financial planners suggest that everyone over the age of majority should have at least four legal documents: a last will and testament, a durable power of attorney, a power of attorney for health, and a living will. Some people also have a separate power of attorney for financial matters. (more…)

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This one-of-a-kind lakefront lot is truly unique within the Malone Bay community. It is one of the most desirable, if not the most desirable lot among the few remaining properties with waterfront access to W. Kerr Scott Lake.

Malone Bay features 18 lots at W. Kerr Scott Dam & Reservoir. 14 are Lakefront and meet private dock requirements. This is a gated community with Lots ranging from 2.3+- acres to 6.8+- acres On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

Main Channel Views.
300 feet of waterfront.
Dock with boat slip and 2 jet ski slips.

2.86 acres.

MLS Number: 51155
List Price: $359,000
Lot Size: 2.86 ac.
Apx Acreage: 2.86
Type: Waterfront
Area: Area 2
Suitable Use: Residential

Topography: Rolling
Utilities: Underground Utilities
Road Frontage: Private Road
Restrictions: yes
Water/Sewer: Public Water
Miscellaneous: 1-5 Acres
Location: Malone Way

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search for : Malone Bay, W. Kerr Scott Lake, W. Kerr Scott Dam

The continued decline in the U.S. dollar, coupled with falling home prices are turning America’s second home market into a fire sale for some foreign real estate buyers. Not only can buyers from abroad cash in with stronger currency, falling domestic home prices and short term vacation rental income helps seal the deal.

In Florida, a growing number of buyers are foreign. When compared to western Europe and Asia, Florida home prices are a bargain. According to NAR’s “They Come To America — To Buy Homes,” in 2006, 65 percent of Florida real estate agents had at least one international customer and the trade group’s “Profile of International Home Buying Activity” indicated that at least 7 percent of 2006 home sales in Florida were to foreign purchasers. (more…)

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Along with the recent drop in mortgage interest rates, home prices have moderated in many areas, making it a good time to buy. If you’ve never bought a home before or if you currently own a home but have never bought and sold at the same time, the process can seem intimidating.

You can ease your anxiety by formulating a game plan and by assembling the best team of professionals you can find. The two key players on your team are the mortgage person and the real estate agent. Once you have these selected, they can help you line up the additional help you need. (more…)

search for : mortgage interest rates

Buying a house, particularly for the first-time, can be a little understood, complicated process. Hopefully, the first-timer will employ the services of a knowledgeable and seasoned real estate agent. The right agent can smooth the process, allowing the prospective owners to concentrate on finding just the right home, not worrying about the minutiae of home buying.

A timeline would really help to put the buying process in order. A recent article on the MSN site does just that — segregates the buying process into understandable divisions of time. The timeline starts from a year prior to the actual closing date. The first step is for the buyer to get a copy of their credit report.

click here for the entire timeline.

Investors prospecting for “short sales” and other pre-foreclosure opportunities got a big boost from Congress and the White House recently. Congress passed long awaited legislation to prohibit the IRS from demanding income tax payments from home sellers whose lenders write off a portion of the outstanding debt balance owed on the loan.

Under the previous law, delinquent home owners heading for foreclosure had to factor a federal tax code into their decisions on whether to participate in a short sale or other transaction involving debt forgiveness. Now that tax burden is totally off the table, at least until 2010. In the meantime, investors and Realtors should encounter one less objection by home sellers to participating in a short sale. (more…)

search for : short sales, pre-foreclosure, delinquent home owner

The ranks of real estate investors mushroomed through the last several years until the market faced a dramatic downturn. Oversold by weekly TV shows, books, glowing news articles and infomercials, it didn’t occur to them that the good times wouldn’t last forever. Many of these people should never have become real estate investors.

Now, with more and more unwanted homes on the market, investors have few options to recoup some of their investment. Some rent the home, which at least gives them some income to cover some of the costs and may make the monthly house payment. Then, when the market changes, they can sell at that time.

Others sell the home at any price. They may lose whatever they put into the house and, if the sales price and commission are below the amount of the mortgage, they will have to either dig in out of their own pockets to pay the missing amount or negotiate a “short sale” with their lender. (more…)

search for : real estate investor

$5,850,000

MLS Number: 50913

City: Valle Crucis, NC
Stories: 2
Bedrooms: 4 Baths: 4.5
Area: Boone-Blowing Rock, NC
Year Built: 1990
Plus Five fully furnished 1,400 sq. ft. Rental Cottages. Each built in 1996 on approx. 1/2 acre sites. Current cottage average annual rental income $150,000.

39.4 acres with 360 degree view of Blue Ridge Mountains.

5,200 sq. ft. main house built in 1990 on 1.24 acres.

No restrictions and no zoning offer many other options:

* Family compound
* Corporate retreat
* Religous retreat
* Horse farm / Dude ranch
* Recording studio
* Cottages can be sold separately
* Land can be further subdivided if desired

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information

search for : Valle Crucis, NC, Blowing Rock, NC, Blue Ridge Mountains

Building or remodeling with ‘green’ materials makes sense and not just for those with a tree-hugger bent. Using ecologically friendly materials pay dividends as you live in your home through decreased air pollution, the pollution that usually come from the out-gassing of new building materials. And, building with eco-friendly materials is a great selling point should you decide to move.

What’s most eco-friendly differs widely, depending on your location, your climate, your project, what’s locally available and on the expertise and customs of local craftsmen. It’s a good bet, though, that a material is green if it saves water or energy, replaces toxic chemicals with safe, healthy components, conserves natural resources, is salvaged, or uses recycled material or agricultural waste.

Click here to see a list of appropriate materials.

search for : ecologically friendly materials, out-gassing

The real estate market for 2007 saw soaring inventories of existing and new homes for sale, a record number of foreclosures, and the strongest buyers’ market in a decade. Although sellers weren’t always happy, buyers found builders who were more than willing to deal on price and upgrades. Investors who tried to unload their properties often found no takers, leading to the largest number of vacant homes on the market since the number has been tracked.

The good news for buyers is that 2008 looks to be much of the same. That means deals are out there and can be made on favorable terms but only for those that follow some simple principles of real estate buying. First, make sure your credit picture is in order. Order a credit report, examine it for inconsistencies, clean up any less that perfect hits.

Decide just how much you can spend on a home, condo or investment property. Lay out a budget, including all the expenditures you normally encounter during the year. Don’t forget to allow a monthly amount for building an “emergency” fund, equal to three times your normal monthly income. (more…)

search for : foreclosure, credit report

Increasingly, homeowners are becoming the latest victims of the tumbling housing market. Across the U.S., a number of home builders have declared bankruptcy. In the past year, at least eight home builders have filed for bankruptcy protection, according to the National Association of Home Builders, including Levitt of Fort Lauderdale and regional builders such as New Jersey’s Kara Homes; Elliot Building Group in Pennsylvania; Neumann Homes in Illinois; and Turner-Dunn Homes in Arizona.

There’s no sure-fire way for prospective buyers to ensure that they won’t get caught up in a builder’s financial woes. Buyers’ rights in this situation vary with state law and the terms of their contract. Buyers need to have an attorney look over the sales contract before they sign it. Also, buyers need to check out the builder’s financial condition as best they can before signing any contract. That may be pretty easy, if the builder is a large, publicly traded entity like Lennar. If it’s a smaller home builder, you have to do a little more homework. (more…)

search for : home builders, bankruptcy

Experienced home inspectors have learned that most all new homes have defects of one kind or another. And this occurs regardless of the quality of construction or the integrity of the builder. Human error, not just complacency, prevents anything as large and as complex as a home from being constructed flawlessly.

A commonly held belief is that construction defects will be discovered by municipal building inspectors. Unfortunately, the purpose, scope, time allotment and procedures for municipal inspections are not the same as for home inspections. Municipal inspectors inspect primarily for code compliance, not for quality of workmanship. (more…)

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Borrowers who are finding it impossible to make their mortgage payments should contact their lenders immediately. Never, never ignore the lenders’ mail and/or phone calls. Most think they don’t need to speak with their lenders about their situations, or think they can take care of their problems without involving the lender. But if you have been a good paying customer, have a good reason why you fell behind, and look like you’ll be able to get back on your feet, lenders can be plenty of help. The key word is “forbearance.”

Lenders don’t want your house, they want you to continue making payments, or at least a renewed promise to pay. The costs of foreclosure are enormous. On average, the total cost, including lost interest during the delinquency, foreclosure costs and disposition of the property, ran nearly $59,000, and the situation took about 18 months to resolve.

(more…)

search for : mortgage payment, costs of foreclosure

Give your home some Christmas love this season. Simple, and sometimes inexpensive gifts, can result in 364 days of more pleasurable living. Items like humidifiers give immediate paybacks by increasing the comfort level. Just as your skin gets chapped and cracked in the winter, your house also suffers from low humidity. The cold, dry weather pulls moisture out of doors and other woodwork. If the house is too dry, you’ll notice cracks in drywall and trim and gaps between assembly points in a wood entry door. (more…)

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Beautiful Wilkes County NC Timber Frame Home and Mountain Property.

MLS Number: 51166, List Price: $898,500

2 Bedrooms, 2 Baths, 2 half baths, 2 car attached garage, full basement, and a barn on 5 acres of land.

These terms are used to describe thousands of homes and yet some things just can’t be described, they have to be experienced. This is one of those homes that really has to be seen to be appreciated.

This majestic Timber Frame home of the Bob Timberlake genre is not just another house, it provides a feeling of home that is not about walls and floors and windows and doors. It creates a feeling of the flow between your outdoor and your indoor environment that is seamless. Everywhere you look there is a view. Everything you touch feels natural and beautiful in a way that cannot be described, only owned.

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information

In November, the Federal Trade Commission reported that 8.3 million U.S. adults had been victims of identity theft in 2005. Because of consumer concerns, the federal government has focused its attention on the use and abuse of credit report information. The Federal Fair Credit Reporting Act regulates who may obtain your information, how it may be used, and what penalties can be levied against those companies who fail to comply with federal guidelines.

Some credit providers require requesters to give solid proof of ownership, such as a copy of the county assessor’s tax bill, grant deed or utility bill when making application for a credit check. Management companies and rental corporations are required to provide information that includes proof of formal contract with the individual authorized to use the credit information. (more…)

search for : Federal Trade Commission, credit report

A poll conducted for CNN by Opinion Research Corp. found that 51 percent of Americans surveyed believed that those at risk of defaulting on their mortgages and losing their homes “should receive special treatment.” But 46 percent said there should not be any special treatment afforded to those in trouble. The poll seems to suggest that their exists a fair bit of skepticism on the part of the U.S. population. As a result, the public is divided on whether those facing defaults on their mortgages should get special help, with most believing the borrowers are to blame for their own problems. (more…)

search for : defaulting on their mortgages, mortgages, borrowers

It’s in the news and fostering a mountain of debate. The Bush administration, in concert with the mortgage industry, has embarked on a controversial project aimed in picking winners and losers from the aftermath of the subprime-mortgage meltdown. Detailed in the recent White House plan, the industry would voluntarily help as many as 1.2 million homeowners who are heading for trouble paying their subprime mortgages. For some homeowners, loan-servicing companies will agree to freeze mortgages at their low introductory rates. In other cases, credit counselors or loan servicers will walk mortgage holders through refinancing processes.

However, the deal won’t provide relief to many subprime-mortgage holders including borrowers who are now in foreclosure, have already refinanced their homes or are more than 60 days delinquent on more than one payment over the past year. In some cases, people with good credit scores will also be excluded. The program will be closely watched in financial markets around the world, where subprime defaults have triggered steep write-downs and constrictions in credit markets. Many banks and investment funds invested in complex securities backed by subprime mortgages, which promised high returns but are now battered and difficult to value. (more…)

search for : subprime-mortgage meltdown, subprime mortgages, foreclosure

Remodelers need to understand that the kitchen is the most complex room in their home. Every aspect of kitchen design must be studied as thoroughly as possible before the remodeling project is begun. Kitchen designers recommend that selection of appliances comes first as all other components gets built around them. The size and shape of the refrigerator, stove, cook top, dishwasher and sink(s) will dictate how these items fit within the overall design. And, how the overall design fits within the existing structure. The choice of a countertop surface dictates the cabinet height. The backsplash determines the placement of the electrical boxes. The list of choices is seemingly endless, but prevail, you will be rewarded with the perfect kitchen. (more…)

search for : kitchen design, Kitchen designers

Last Christmas season, getting a good deal on a flat-panel television set was a no-brainer. This year, it’s not so easy. An oversupply of plasma and liquid-crystal-display panels last year knocked down average sale prices roughly 30% or more in the fourth quarter from a year earlier for models in the 30- to 50-inch range. Home Depot no longer sells TV sets in its stores. There is also less of a glut in flat panels used to build big-screen, high-definition sets. And TV makers, such as Sony Corp. and Sharp Corp., are focused on building larger, more expensive high-definition sets that will be less subject to discounting.

This year, the best bargains in LCD sets, which use liquid crystals that pass or block light, are in model sizes of 40, 46 and 52 inches. Bargain hunters won’t find deals in sets north of 50 inches. Because LCD isn’t a strong presence in sets larger than 52 inches, there’s little competition between the two technologies to help bring plasma prices down.

search for : flat-panel television, liquid-crystal-display, big-screen, high-definition set

Subprime borrowers and mortgage strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on their subprime mortgages that are scheduled to rise in the coming months. The plan is being promoted as a voluntary, private-sector arrangement that involves no government money. The plan will affect 1.2 million people who could possibly be eligible for help. But only a fraction will be subject to the rate freeze. Others would get assistance in refinancing with their lenders and moving into loans secured by the Federal Housing Administration.

Thousands of borrowers who are falling behind on their payments have been sent letters about the options they have in keeping their mortgage current. People can now call a new hot line: 1-888-995-HOPE to discuss mortgage assistance.

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search for : Subprime borrowers, subprime mortgages

Beautiful Wilkes County NC Log Home and Mountain Property.

MLS Number: 50863, List Price: $359,900

Bedrooms: 3, Full Baths: 2, Half Baths: 0, Est Total SqFt: 2600, Type/Style: Log Home, Area: Area 6, Middle School: Cntrl Wlks, High School: Wlks Cntrl, Construction: Log

Foundation: Combination, Roof: Metal Roof, Floors: Carpet/Hardwood/Tile, Garage/Carport: None-Garage, None-Carport, Interior Features: Master Bedroom, Main Level, Large Master Bedroom, Walk-In Closet(s), Hardwood Floors, Fireplace(s), Great Room, Exterior Features: Double Pane Windows, Wooded Lot, 1-5 Acres, Hot Tub, Subdivision: N/A, Lot Size: 2.47, Apx SqFt: 2600 – 2800 SF, Basement: None

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information

Remodeling activity rose during the third quarter of 2007, according to the National Association of Home Builder’s (NAHB) Remodeling Market Index (RMI). The current market conditions indicator increased slightly to 46.2 from 44.8 in the second quarter. The RMI “special questions” section this quarter focused on outdoor remodeling jobs, which is the first time questions have been asked on this topic. Fifty-two percent of respondents reported the most common type of outdoor remodeling job completed by the company was adding a deck, followed by porch (35 percent), patio (25 percent), front porch (25 percent), decking/patio covers/enclosures (22 percent), outdoor lighting (13 percent), and outdoor kitchen (13 percent). (more…)

search for : Remodeling activity, National Association of Home Builder’s, outdoor remodeling

The outside appearance of your home will convince a prospective buyer to, at least, venture inside to view your home for sale. That was the finding in a recent Remodeling magazine survey. Though most home improvements don’t pay for themselves at resale, the survey found that the projects with the greatest return on the dollar are those that improve a home’s curb appeal, such as new siding, decks, windows, paint and landscaping. Sellers usually recover about 70 cents for every dollar they’ve spent for home improvements. That’s down from more than 80 cents in 2005. The survey’s authors say this is the result of higher costs for home remodeling and declining sale prices. Where home prices have not dropped as much as in other regions, sellers can recoup a higher percentage of their home improvement expenses. (more…)

search for : home improvements, curb appeal

Eric Rosengren, president of the Federal Reserve Bank of Boston recently made the statement that many borrowers with subprime mortgages, having reasonably good credit, may be able to refinance into a less costly mortgage by taking advantage of government programs. He noted that 55% of subprime adjustable-rate mortgages, where the owner occupied the home, hadn’t missed a mortgage payment in the past year, translating to about 1.2 million borrowers. Those homeowners meet the credit standards required for FHA [Federal Housing Administration] guarantees. FHA is a division of the U.S. Department of Housing and Urban Development that insures loans originated by banks and other companies. FHA was designed to provide insurance for first-time homebuyers and low- and middle-income borrowers. (more…)

search for : Federal Reserve Bank, subprime mortgage

With the price of sofas begin what the are, many consider rejuvenating their sofa as an alternative to a new purchase. Adding new legs can really update the couch’s silhouette. If your sofa has thin traditional legs that look a little outdated, replace them with chunkier block legs, which are more contemporary. There are online sources for sofa legs, like Bing’s (bingltd.com) and rockler.com. Also, just nearby, Home Depot and Lowe’s also have a good selection. A lot of times, when a couch is looking a little worn, the main issue is saggy cushions. Refilling them can rejuvenate the look and make the couch a lot more comfortable. This is best done by a professional upholsterer. Depending on whether you choose a polyester-blend fill or down, it can set you back from about $200 to nearly $500, but that is still less than it would cost to reupholster the sofa or to buy a new one. (more…)

search for : Home Depot, Lowe’s

It may not be the best time to sell a house in much of the country; but increasingly, it’s a good time to build or renovate one. The housing slump has pushed down prices on everything from lumber and drywall to labor and architectural fees. Legions of carpenters, tile layers and landscapers are idle. Architects are taking on small renovation projects they once would have sniffed at and contractors are offering their services at a discount. Some people in the building trades are even posting fliers at construction sites to drum up business. Now, some homeowners are moving forward on renovation or building projects they’ve put off for years. Others are exacting substantial price cuts from contractors desperate for work. (more…)

search for : housing slump, renovation project