Sunday, December 6, 2009

Holiday Open House at the Executive Mansion and Western Residence


Executive Mansion

Governor Perdue invites the public to visit the Executive Mansion – the People’s House – for a Holiday Open House Dec. 10-13. Visitors will have the opportunity to view the mansion’s beautiful decorations and enjoy holiday entertainment provided by musical and choral groups from across the state.

Schedule
• Thursday, Dec. 10 12 p.m. – 8 p.m. (Coinciding with the Capitol Christmas Tree Lighting)
• Friday, Dec. 11 10 a.m. – 5 p.m.
• Saturday, Dec. 12 10 a.m. – 5 p.m.
• Sunday, Dec. 13 1 p.m. – 4 p.m.

No advance reservation is necessary but due to the popularity of this event, visitors should try to arrive at least an hour prior to closing. The Executive Mansion is located at 200 N. Blount Street. For questions regarding the Executive Mansion open house, visitors should call Capitol Area Visitors Services at 919-807-7950 or toll-free at 866-724-8687.

Western Residence

The Western Residence board of directors also invites visitors to the Asheville home to view its holiday decorations Dec. 5-6.

• Saturday, Dec. 5 10 a.m. – 7 p.m.
• Sunday, Dec. 6 1 p.m. – 6 p.m.

No advance reservation is necessary. The Governor’s Western Residence is located at 45 Patton Mountain Road. For questions regarding the Western Residence open house, visitors should contact Juleigh Sitton at 828-430-0054.

Fiber Manufacturer Brings 25 Jobs to Rockingham County


SANS Technical Fibers LLC, an international manufacturer of synthetic nylon filament and yarn for the high-performance, military, automotive and other markets, will expand its plant in Rockingham County. The company will invest more than $2.8 million and create 25 jobs in Stoneville. The announcement was made possible in part by a $60,000 grant from the One North Carolina Fund.

“North Carolina remains a top choice for successful companies adapting to compete in a global marketplace,” Gov. Perdue said. “Our exceptional quality of life and skilled workforce continue to attract companies looking for the perfect location to expand and prosper.”

SANS Technical Fibers, headquartered in Gastonia, is a wholly owned subsidiary of AECI Limited of South Africa. AECI has consolidated its fiber-producing operations to the Stoneville plant, which currently employs about 100 people.
For information on company job opportunities, please contact: hr@sansfibers.com.




Source: Governor Perdue

Wednesday, December 2, 2009

Winter Safety Tips


Preparing your home and property for cold weather conditions and responding to them effectively can reduce some of the effects caused by winter's weather challenges. Experts agreethat the following measures can be effective in dealing with the effects of severe winter weather:

• Have your snow removal equipment serviced and ready for action.
• Have rock salt on hand to melt ice on walkways.
• Make sure your walls and attic are properly insulated.
• Caulk and weather-strip doors and windows.
• Install storm windows or cover windows with plastic from the inside.
• Have an ample supply of wood if you have a fireplace.
• Have safe portable space heaters available.
• Wrap water pipes in insulation or layers of old newspapers to keep from freezing.
• Let faucets drip a little to avoid freezing.
• Know how to shut off water valves.
• In case the power goes out, have disaster supplies on hand such as a flashlight & battery-operated radio (and extra batteries), a first aid kit and extra blankets & sleeping bags.
• Develop an emergency communication plan in case family members are separated from one another during a winter storm.
• Teach children how and when to call 9-1-1, police, or fire department, and which radio station to tune to for emergency information

Winter Car Kit




Make sure to have these items in an accessible location in your car:

• Flashlights with extra batteries
• First aid kit with pocket knife
• Several blankets
• Plastic bags (for sanitation)
• Matches
• Extra set of mittens, socks, and a wool cap
• Small sack of sand for generating traction under wheels
• Small shovel
• Tool kit
• Booster cables
• Brightly colored cloth to use as flag

Know the Severe Weather Lingo!!



Know how the public is warned (via siren, radio, TV, etc.) and the warning terms for each kind of disaster in your community:

WINTER STORM WATCH
Be alert, a storm is likely

WINTER STORM WARNING
Take action, the storm is in or entering the area.

BLIZZARD WARNING
Snow and strong winds combined will produce blinding snow, near zero visibility, and deep drifts.

WIND CHILL
Seek refuge immediately.

WINTER WEATHER ADVISORY
Winter weather conditions are expected to cause significant inconveniences and may be hazardous, especially to motorists.

FROST/FREEZE WARNING
Below-freezing temperatures are expected and may cause damage to plants, crops, or fruit trees.

Winterizing Your Car


I received some very helpful tips for winter and thought I would pass them along to you! So, for the next few days I will be posting winter tips for you to share!


Preparing your vehicle for the winter season is one of the most important keys to safe winter driving. Have a mechanic check the following items on your car before the temperatures drop.
• Battery
• Ignition System
• Lights
• Exhaust system
• Brakes
• Oil Level
• Antifreeze
• Thermostat
• Flashing hazard lights
• Heater
• Defroster
• Tires/tread
• Wipers and windshield washer fluid
Also, be sure to keep a windshield scraper and small broom for ice and snow removal, and maintain at least a half tank of gas at all times during the winter season.

Monday, November 30, 2009

Driving While Texting


An epidemic is sweeping across America causing drivers everywhere to blackout. It's called Texting & Driving. Starting December 1st, 2009 NC driver's caught texting while driving will face a fine of $100 plus court fees. The violation will not add points to your driving record and insurance surcharge will NOT be assessed.

When you text and drive...

It takes your eyes off the road on average of five seconds at a time. At 55 mph, that's like driving the length of a football field - completely blind.

It's like driving after having 4 beers.

It makes us 23 times more likely to crash.

It results in car crashes that kill an average of 11 teens each day.

It's results in 330,000 distracted driving injuries every year.

Monday, November 23, 2009

Charming Home in the Heart of Kirkwood For Sale!






Charming 3 bedroom 2 bath home located in the heart of Kirkwood! Enjoy this wonderful home which features a Formal Living Room with a fireplace, Two Dining areas, Bright and Cheery Kitchen, Sun-Filled Den, Master Bedroom with en-suite Master Bath, Master Bath boasts dual sinks, jetted tub, separate shower, and walk-in closet! The home is nicely situated on an expansive lot with a beautiful privacy fence and storage building. Kirkwood is one of the prime neighborhoods in Greensboro. The residents are warm, caring, and devoted to neighborly activities. Enjoy special neighborhood events such as the famous 4th of July Kirkwood Parade, Kirkstock, Halloween activities, Santa in the Park where kids may sit on Santa's lap or play on the fire truck that is brought in for the occasion, bi-weekly neighborhood gatherings during the warmer months, or just enjoy the neighborhood park that is located only a block from this home!

For more pictures and information please go to: http://www.allentate.com/brittainmehler/DesktopDefault.aspx?pageid=108&pagealias=ATWAgentListingDetail&ListingID=1678744&ListingPosition=8&From=AgentFeaturedProperties

Oct. Home Sales Up 10.1%, Beating Expectations

Sales At Highest Level In More Than 2 Years


WASHINGTON -- Home resales far exceeded expectations last month, surging to the highest level in 2½ years as first-time buyers rushed to take advantage of an expiring tax credit.

The National Association of Realtors says sales rose 10.1 percent to a seasonally adjusted annual rate of 6.1 million in October, from a downwardly revised pace of 5.54 million in September.

It was the highest sales level since February 2007. Sales, which were nearly 24 percent above last year's level, had been expected to rise to an annual pace of 5.65 million, according to economists surveyed by Thomson Reuters.

The median sales price was $173,100 down 7.1 percent from a year earlier, and off 1.6 percent from September.







ALAN ZIBEL, AP Real Estate Writer

Sunday, November 15, 2009

Southern Lights to return as Blue Sky - The Business Journal of the Greater Triad Area:

Southern Lights to return as Blue Sky - The Business Journal of the Greater Triad Area:

Friday, October 23, 2009

Home sales rebound to highest level in 2 years

NEW YORK (CNNMoney.com) -- Sales of existing homes rebounded sharply in September to their highest level in two years, getting a strong boost from first-time homebuyers, according to a report released Friday.

Sales of previously-owned homes jumped 9.4% in September after falling for the first time in four months in August, said the National Association of Realtors. Year over year, sales of existing homes were up 9.2% in September.

"Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home," said Lawrence Yun, NAR chief economist.

Early information from a NAR report to be released next month suggests first-time homebuyers accounted for more than 45% of home sales in the past year.

September home sales hit an annualized rate of 5.57 million properties, up from 5.10 million units in August. A consensus estimate compiled by Briefing.com had forecast sales of 5.35 million units.

Prices still falling. Yun said the market is still underperforming as home values continue to decline.

The median price of homes sold in September was $174,900, falling 8.5% from a year earlier. The drop in prices has been led by an influx of distressed properties, which accounted for 29% of sales in September and include foreclosures and short sales.

"We're getting early indication of price stabilization but we need a steady supply of qualified buyers to meaningfully bring inventories down and return us to a period of normal, steady price growth and to fully remove consumer fears, which would then revive the broader economy," Yun said.

With more than 75 million home-owning families having more wealth tied to their homes than the rising stock market, Yun said economic growth without a recovery in their homes' value "will be one of the weakest in U.S. history."

The $8,000 tax credit that has helped first-time home buyers take advantage of the most affordable conditions since 1970, but the looming expiration date of the incentive could hold buyers back from entering the market, said NAR president and real estate broker Charles McMillan.

"Our read is that housing overshot on the downside because homes are selling for less than replacement construction costs in much of the country, and the home price-to-income ratio has fallen below the historical average," McMillan said.

In order for prices to return to normal, Yun says that total housing inventory would need to drop at the 7.5% pace seen in September, which represents a 7.8-month supply, the lowest in almost three years.

To help boost home prices and sales, lawmakers are considering extending the tax credit and expanding it to all but the wealthiest homebuyers.

While keeping the credit would help lift housing prices, senior economist at PNC Robert Dye says it would only be a temporary effect until the program stopped, as was seen with Cash for Clunkers.

"First-time homebuyers don't represent the bulk of the market and there is strength well beyond them," said Dye. "If economic indicators such as consumer confidence show improving trends, then experienced homebuyers will stay in the market and take advantage of [the low] prices" even without the credit.

Where the homes are selling. Regionally, the strongest market was the West, where sales climbed 13% to an annualized rate of 1.3 million. That was 5.7% higher than last year's rate. The median price of homes sold during the month was $219,000, down 15% from last year.

In the Midwest, sales were up by 9.6% to a pace of 1.25 million, which was 7.8% higher year-over year. Prices there have dipped 1% since 2008 to a median of $147,600.

Sales in the South were up 9% from August and 10.8% from last September to a rate of 2.6 million. Prices have dropped 7.6% to $153,500 in the past 12 months.

The Northeast reported a modest rise, with existing sales up 4.4% from August to a rate of 950,000. That was 11.8% from a year ago. The median price there was $234,700, down 7.6% from last year.






Source: http://money.cnn.com/2009/10/23/real_estate/existing_home_sales/index.htm

Wednesday, October 21, 2009

10 Ways to Prepare for Home Ownership

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.
8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.
9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

Monday, October 12, 2009

Thinking about buying a short sale?


Are you looking to buy a new home? Are you thinking that now's a great time to find bargains? Before you make an offer, it pays to know a little about the seller's situation.

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

You're a good candidate for a short-sale purchase if:

* You're very patient. Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.
* Your financing is in order. Lenders like cash offers. But even if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you're preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
* You don’t have any contingencies. If you have a home to sell before you can close on the purchase of the short-sale property—or you need to be in your new home by a certain time—a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you're serious about purchasing a short-sale property, it's important for you to have expert assistance. Here are some people you want to work with:

* Experienced real estate attorney. Only about two out of five short sales are approved by lenders. But a good real estate attorney who's knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.
* A qualified real estate professional.* You may have a close friend or relative in real estate, but if that person doesn’t know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they've represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as “lender approval required.”)
* Title officer. It’s a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic’s lien, homeowners association lien, etc.), it's much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you’ve waited for months for lender approval. If you don’t know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

* Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.
* Bad terms. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you’ve already negotiated, which may not be agreeable to you.
* No repairs or repair credits. You will most likely be asked to take the property “as is.” Lenders are already taking a loss on the property and may not agree to requests for repair credits.

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.






* Not all real estate practitioners are REALTORS®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS® and is bound by NAR’s strict code of ethics.



Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.

Wednesday, October 7, 2009

Obama bolsters program that insures home loans


More homebuyers depend on government-insured FHA loans and defaults are rising. Federal housing officials take steps to lower the program's risk.

NEW YORK (CNNMoney.com) -- With a growing number of homebuyers depending on government-insured loans, the Obama administration is taking steps to shore up the Federal Housing Administration program.

Rising demand and a slower-than-expected rebound in home prices are pushing one of FHA's reserve accounts below the 2% ratio mandated by Congress, said Commissioner David Stevens. The capital reserves are a cushion against expected losses in the program, which has suffered soaring defaults amid the housing collapse.

The FHA has skyrocketed in popularity during the mortgage crisis since it backstops banks if borrowers stop paying. Housing experts are growing increasingly concerned about the agency's ability to handle rising numbers of defaults.

The drop in reserves, however, will not require a taxpayer-funded infusion into the housing agency, nor an increase in insurance premiums that FHA borrowers pay, Stevens said. The capital reserves, which are determined by an independent auditor and reported to Congress in November, will rise above the minimum threshold within a few years as the housing market recovers.

The agency's overall reserves stand at more than $30 billion, a record level thanks to the large influx of premium-paying borrowers, Stevens said. It covers more than 4.4% of its insurance commitments.

"To be clear, the fund's reserves are sufficient to cover our future losses, so the FHA will not require taxpayer assistance or new congressional action," Stevens said.

Still, the agency is taking a number of steps to reduce the riskiness of the program, which allows borrowers to purchase a home with as little as 3.5% down. It plans to hire its first chief risk officer in its 75-year history and to increase net-worth requirements for approved lenders to $1 million, up from $250,000. Lenders will also be responsible for any losses resulting from fraud on the part of mortgage brokers.

The changes may eliminate some smaller FHA lenders and will likely weed out some of the riskier borrowers, Stevens said.

These moves, particularly hiring a chief risk officer, are important steps that need to be taken, said Howard Glaser, head of the The Glaser Group, a financial services analytics firm. The agency grew so quickly that it was difficult to monitor the quality -- and riskiness -- of the loans being made.

While the FHA may want to raise borrower premiums or tighten its underwriting standards if defaults continue to rise, Glaser said the agency's $30 billion reserve is enough to cover its current loss estimates.

"It's surprising they are doing as well as they are," said Glaser, a former Clinton administration housing official.
FHA propping up housing market

As banks have clamped down on mortgage lending, the FHA program has emerged as one of the few ways people can buy a home these days. Banks are more willing to make FHA loans because they come with a federal guarantee to cover losses if the borrower defaults. And borrowers can more easily qualify for FHA loans because they only need 3.5% down and can have lower credit scores.

As a result, demand for FHA loans has exploded. FHA loans now account for 23% of the market, up from 2% in 2006, Stevens said. Some 80% of first-time homebuyers go through the agency.

The agency, however, has also seen a spike in delinquencies amid the mortgage meltdown. Some 14.42% of FHA loans were past due in the second quarter, up .58 percentage points from the same period a year earlier, according to the Mortgage Bankers Association. Just under 3% of FHA loans were in foreclosure, up .22 percentage points.

Concerned about rising defaults, the agency has raised its standards for new borrowers. Only 7.5% of the portfolio has a credit score below 620, down from 50% two years ago. The average score is 690, versus 630 two years ago.

"The quality of the current FHA book is significantly better than anything seen in the FHA portfolios in recent years," Stevens said. To top of page




Tammy Luhby, CNN Money

Monday, September 28, 2009

You've got questions? I've got answers! First-Time Homebuyer Tax Credit


I have run into a lot of people that have questions about the $8,000 first-time homebuyer tax credit. Here are a few answers:

Q: Who qualifies?

First-time homebuyers who puchase homes between January 1, 2009 and November 30, 2009.

To qualify as a "first-time homebuyer" the purchaser or his/her spouse may not have owned a residence during the three years before the purchase.

Q: Which properties are eligible?

The 2009 first-time homebuyer tax credit may be applied to primary residences, including: single-family homes, condominiums, town-homes and co-ops.

Q: How much will the credit be?

The maximum allowable credit for homebuyers is $8,000. Each homebuyer's tax credit is determined by two factors:

1. Price of the home- the credit is equal to 10% of the purchase price of the home, up to $8,000.

2. Income- single buyers with incomes up to $75,000 and married couples with incomes up to $150,000 may receive the maximum tax credit.

Q: If the buyer(s)' income exceeds these limits, can he/she still get a credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for homebuyers filing jointly.

The amount of the tax credit decreases as his/her income approaches the maximum limit. Homebuyers earning more than the maximum qualifying income- over $95,000 for singles and over $170,000 for couples- are not eligible for the credit.

Q: Will the tax credit need to be repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

Q: Is it too late to start the homebuying process in time to take advantage of this credit?

No, but you need to start soon. What we're hearing from mortgage brokers is that it takes anywhere from 45-60- days to get to the closing table of a normal transaction. If you start today, you'll still have time. If you want to take advantage of this amazing tax credit, contact me today!


















Source: Realtor.org

Friday, September 25, 2009

Unemployed Home Owners May Get Assistance


The Obama administration has opened a dialogue with major lenders, economists, and government officials over the possibility of extending a financial lifeline to home owners who no longer can afford their mortgages because of job losses.

Possible strategies range from encouraging loan servicers to allow unemployed borrowers to skip some payments to providing grants or loans to temporarily cover mortgage obligations for home owners who become unemployed.

The talks have drawn praise from some real estate groups and other interests, who say that without aid to this subset of homeowners, the housing recovery could lose momentum.

Source: USA Today, Stephanie Armour (09/18/09)

© Copyright 2009 Information Inc.

Thursday, September 10, 2009

Homebuyers cashing in $8,000 tax credits


NEW YORK (CNNMoney.com) -- Hundreds of thousands of first-time homebuyers across the country have begun to claim their tax credits, according to new government data released on Friday.

So far, nearly 315,000 people have claimed the tax credit after filing an amended 2008 tax return, according to a Treasury Department report on the status of the Recovery Act.

California led all states with 42,304 claimed credits.

Eligible first-time homebuyers can claim the credit of up to $8,000 -- or 10% of the home's value, whichever is less -- on either an amended 2008 return or on their 2009 return.

Treasury's figures more than likely sharply underestimate the real number of people who have taken advantage of the credit because many homebuyers have not yet claimed it on their tax return.

According to a recent National Association of Realtors survey, about 1.1 million first-time homebuyers have used the credit. NAR expects that number to grow to about 1.8 million by the time the credit expires on Nov. 30.

The discrepancy between Treasury and NAR probably stems from the fact that a majority of eligible first-time homebuyers have opted to wait to file for the credit on their 2009 returns, which they can file in early 2010.

State-by-state data. The Treasury figures show how some of the hardest-hit states during the housing downturn are now among the states with the largest numbers of claimed tax credits.

California, Georgia, Florida, Arizona and Michigan are all in the top 10, when it comes to claiming the credits. Though part of that is likely skewed by population figures, other large states like New York and Virginia have been left in the dust.

"We're seeing some big increases in many of the areas with the biggest price corrections," said NAR spokesman Walter Maloney. "That's no coincidence."

A National Delinquency Report from the Mortgage Bankers Association showed that California, Florida, Arizona and Nevada combined accounted for 44% of all foreclosure starts during the quarter. Last quarter, the Cape Coral metro area in Florida recorded the largest decline in home prices: 52.8% to $84,000, according to a NAR report.

After California, Texas and Florida were the next states with the largest number of claims, with over 29,000 each. Arizona had nearly 9,300 claims and Nevada rounded out the top 20, with 5,259.

Most of the smaller states made up the bottom of the list, with Vermont's first-time buyers bringing up the rear, claiming just 351 credits.

Applying for the credit is as easy as filing income taxes. First-time homebuyers just have to claim it on their return -- no other forms or papers have to be filed.

National Association of Realtors estimated an extra 350,000 sales will occur this year, solely because of the credit. The National Association of Homebuilders, more conservatively predicted 165,000 extra home sales. To top of page

Wednesday, September 9, 2009

Mecklenburg County Clean-Energy Company to Add 61 Jobs


SCR-Tech LLC, a leading national provider of cost-effective emissions control solutions for power plants, will expand and add an additional facility in Charlotte. The company plans to invest more than $12.4 million over the next five years in capital and lease payments for the expansion and for new technologies. During the next three years, the company plans to create 61 new jobs in Mecklenburg County. The announcement was made possible in part by a $90,000 grant from the One North Carolina Fund.
“North Carolina is a national leader in promoting clean, green technologies,” Gov. Perdue said. “Companies like SCR-Tech are expanding to tap into the emerging market for green-friendly products while enjoying our state’s top business climate and knowledge-based workforce.”
The 61 new jobs will pay an overall average wage of $49,372, not including benefits.
SCR-Tech is wholly owned by CoaLogix Inc., which provides innovative solutions for clean energy production with a focus on cost-effective emissions control solutions for the coal and gas-fired power generation industry. The company, with headquarters in Charlotte, currently provides selective catalyst reduction (SCR) regeneration technologies and SCR management services to reduce its customers’ environmental footprint.
For more information about SCR-Tech, including employment opportunities, visit http://www.coalogix.com.






Source: Office of Governor Bev Perdue

Monday, August 24, 2009

Record Jump in Existing Home Sales


NEW YORK (CNNMoney.com) -- Sales of existing homes rose in July for the fourth consecutive month, lending support to economists who argue a recovery is near.

Sales of previously owned single-family homes were up 7.2% compared with June and 5% from July 2008, The National Association of Realtors (NAR) reported Friday. The monthly gain was the largest on record for existing-home sales, which NAR has tracked since 1999.

"The housing market has decisively turned for the better," said Lawrence Yun, NAR's chief economist. "A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales."
...
The July performance far exceeded expectations: A consensus of real estate experts had forecast sales of 5 million.

Read entire article

Tuesday, August 18, 2009

Allen Tate Rate Relief Program






Allen Tate RATE RELIEF Program

The Allen Tate Rate Relief Program is a unique program centered on seller-funded preferred financing. The seller commits to pay up to 3 percent of the purchase price toward a financing package from a qualified lender.

Seller Advantages

* Preferred financing sets the home apart from others on the market.
* Home showings may increase due to a higher level of buyer interest.
* Potential target market increases with more qualified buyers due to lower
income requirements and lower monthly payments.
* Home retains greater market value.



Buyer Advantages

* Program provides a permanent interest rate buydown.
* Below-market interest rate reduces buyer's monthly mortgage payment.
* Buyer may qualify for a larger home.
* Less buyer income is required to qualify for financing.
* Points are a tax deduction for the buyer in the year the property is
purchased.

Sunday, August 2, 2009

$8,000 Tax Credit Only Available in 2009

The clock is ticking!

Currently there is an $8,000 federal tax credit available to home buyers. BUT, there is a catch! It is only available on homes purchased through November 30, 2009.

The tax credit is available to first-time home buyers and buyers who have not owned a home within the past three years, with single income of up to $75,000 or joint income up to $150,000.

Saturday, August 1, 2009

Interior Painting Tips


Painting is a quick and easy way to completely change the look of a space. By doing some simple prep work you can make a huge difference in the quality of the results.

Get the surface ready.
You want the paint to glide on smoothly, so be sure the surface is clean before you start painting. Remove any handprints, dirt, or scuff marks. Lightly sand any glossy spots to avoid streaks.

Select a paint sheen and color.
Ah, the choices! Many paint stores are making it easier to narrow down your choices by offering small trial sizes so that you can test the color at home and look for any variations in daylight and night. Lighting has a big effect on the way color appears. Remember: Higher sheen paints tend to offer more durability than flat paints, so use them in high traffic areas. Stain or low-lustre finishes offer more warmth and depth than a flat paint. Consider a high sheen paint on the ceiling, which offers good reflection in the room.

Don't go cheap on the paint. It's always tempting to save a buck, but it might not be worth it on paint. Painting is a big job, so you want the expense and quality to show. The Rohm and Haas Paint Quality Institute, a national painting education group, recommends purchasing top quality acrylic latex interior paint, which will go on smoothly and allow for easy soap and water cleanups.

Choose the right paint tools.
If you're using a roller to paint, select the right lenght of roller nap cover for the proper paint coverage. The smoother your painting surface, the shorter the nap should be. Use synthetic materials, which are made from nylon or polyester, when applying latex or water-based paints.













Source: The Rohm and Haas Paint Quality Institute, REALTOR Magazine, April 2009

Monday, July 27, 2009

Cash for Clunkers Insurance Tips


NEW YORK, July 24, 2009 — U.S. motorists participating in the federal government’s Car Allowance Rebate System (CARS) program, popularly known as the ‘cash for clunkers’ initiative, must prove that the vehicle they want to trade-in has been insured continuously for at least the previous 12 months, according to the Insurance Information Institute (I.I.I.).



Released today, the National Highway Traffic Safety Administration’s (NHTSA) final CARS rules say that the proof of insurance to be submitted to participating car dealers, can take one of three forms:



*One or more insurance cards containing the make, model, model year and vehicle identification number (VIN) of the insured trade-in vehicle but only if, taken together, the cards display on their face a continuous one-year period of insurance coverage.

*Insurance policy documents (e.g., declarations pages) showing the aforementioned information.

*A signed letter, on insurance company letterhead, identifying the trade-in’s vehicle identification information (i.e., make, model, model year and VIN) and the period of continuous coverage, which must be for at least one year prior to the date of the trade-in.



“In addition, for each of the three options, the consumer must certify that the trade-in vehicle has been continuously insured for the requisite period,” the NHTSA rules state. The agency, a part of the U.S. Department of Transportation, consulted with the I.I.I., the American Insurance Association, the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America while developing the CARS program eligibility requirements.

“Auto insurers will play an important role facilitating a program which has the potential to remove from America’s roadways an estimated 250,000 gas-guzzlers, replacing them with newer, more fuel-efficient vehicles,” said Dr. Robert Hartwig, president of the I.I.I. and an economist. Hartwig added that car buyers should consult with their insurer or agent to make sure that their new vehicle is properly insured. “In many cases, the new vehicle will require coverages such as collision and comprehensive that may have been dropped on the older trade-in,” he noted.



The law that led to the creation of the CARS program stipulates that a car or truck is an eligible trade-in vehicle so long as it meets the following criteria:



Manufactured less than 25 years ago

Is in drivable condition

Has a combined city/highway fuel economy of 18 miles per gallon or less

Has been continuously insured and registered for the full year preceding the trade-in



President Obama signed into law the Consumer Assistance to Recycle and Save Act of 2009, which created CARS, on June 24 as a way to encourage Americans to help pay for the purchase or lease of a new, more fuel-efficient car or truck via credits of either $3,500 or $4,500 when trading in a less fuel-efficient car or truck.

As part of a CARS transaction the car dealer must submit to NHTSA the trade-in vehicle’s proof of insurance when requesting reimbursement from the federal government. The new vehicle must also have a manufacturer’s suggested retail price of $45,000 or less to be eligible for purchase or lease under the program. CARS will end on November 1, 2009, or earlier, if the $1 billion authorized for the initiative has been exhausted before that time.



Information provided by Sue Richardson
Allen Tate Insurance

Monday, June 29, 2009

Your Zip Code and Your Auto Insurance Premium: How Where You Live Impacts How Much You Pay




If you move from the suburbs to the city, from one side of town to the other, or even a few blocks away, better check your policy at renewal time. Although several factors affect your car insurance premium, one of the hot issues in the past few years has been the relationship between your premium and your zip code.

Factors Insurance Companies Use to Determine your Premium

These are the most common factors that determine your auto insurance rates:

• Driving Record

• Number of Miles Driven

• Where You Live (zip code)

• Age of the Driver

• Type of Car Owned

• Amount of Coverage

• Credit

You may be a good, experienced driver, but when it comes to auto insurance in many states, your zip code is your identity. Just because you live in an expensive downtown loft with a secure garage doesn’t guarantee lower auto insurance rates. Insurance companies use a variety of things to determine how much the risk is on a particular policy. Where you live, who lives in your neighborhood, (families, young single people, etc.), what kind of car you drive, the amount of traffic in the neighborhood, and the number of claims within that neighborhood, are just some of the things that will determine what certain rates are in a particular zip code.

The cost of your auto insurance is also influenced by the crime rate in the area you are living. If you reside in a neighborhood where the risk of vandalism, theft and other crime is high, the rate of your auto insurance increases accordingly in many states, even if you have a spotless driving record. Where you reside makes a lot of difference. Those who live in areas where there is little or no traffic will definitely spend less on insurance premiums compared to those who live in cities and congested suburbs. Obviously, areas with a lot traffic are more prone to accidents.







Courtesy of Sue Richardson
Allen Tate Insurance

Tuesday, June 16, 2009

Where to recycle those un-recyclables



Guilford County residents can recycle much through the city and county recycling programs. But I often hear from people, “What about this? What do I do with yogurts cups, eyewear, packing materials, etc.?”

So in an effort to lend a hand, here is a quick initial hit list for those other items you're just not sure what to do with:

Yogurt cups and other #5 plastic: Most local recycling programs don’t seem to take #5 plastic, so what’s a struggling recycler to do? Through Preserve’s Gimme5 program, a partnership with Stoneybrook and Organic Valley, you can drop off those containers at any Whole Foods location or mail directly to Preserve. Preserve then recycles and turns into products like razors, toothbrushes and tableware.

Bottle caps: Aveda haircare has just launched their Recycle Caps program which encourages individuals and schools to take bottle caps, shampoo caps, ketchup caps or any type of threaded cap to an Aveda location and they will repurpose into new caps and containers.

Makeup containers: Through Origins, you can bring old makeup tubes, jars and bottles (any brand) to an Origins counter and they will recycle or use for energy recovery.

Eyeglasses: With over 250 million people suffering from poor vision worldwide, you can donate your old eyewear to OneSight. Search for a drop-off location such as Sunglasses Hut, or Sears Optical in your town and they’ll make sure it gets to someone in need.

Plastic Wraps: These include bread wraps, cereal liners, ziplocks, toiler paper and diaper wrapping, dry cleaning bags and produce bags. From a recent article at Simple Steps, major retailers like Barnes & Noble, Whole Foods and Wal-Mart as well as many local grocery stores have collection bins for these types of plastic bags and wraps.

Boxes: Just moved and have a mountain of boxes or are you looking for boxes? At Boxcycle, you can buy and sell used boxes in your local area. Just list your items and they take care of the rest.

Packing Peanuts: Uggh! How horrible is this when you open up the box. To help us out, the Plastic Loose Fill Council offers over 1500 drop-off sites so that these things can be reused again. Also, any Kinko’s Fed Ex, UPS Stores or other pack and ship locations are good places to recycle. Here’s also some other creative ideas on how to reuse these little buggers.

Though this may involve an additional trip, plan your drop off’s when you will be in the area and you’ll feel great about doing this, I promise. Luckily right here in Greensboro, we have an Aveda, Origins, Barnes & Noble and Sears Optical and Sunglasses Hut all in close proximity around Friendly Shopping Center.

And if you find yourself in a serious recycling emergency, check out Earth 911 and plug in your zip to find more local recycling options for all kinds of items.



By Jeanne Blaisdell
Special to goGreenTriad.com Writer

Friday, June 12, 2009

Bill expands tax credit for home buyers


GREENSBORO — U.S. Rep. Howard Coble introduced legislation Wednesday that could help the housing market maintain the momentum that has emerged from buyers in recent months.

The Greensboro Republican has offered a bill that would build upon the popular $8,000-maximum tax credit meant for first-time home buyers. Coble’s bill would extend the credit through 2010, open it to all home buyers and eliminate income-qualifying limits.

Realtors, home builders and mortgage brokers have all seen more business in recent months, in part, because the tax credit is spurring some would-be buyers to jump into the housing market.

Now, the tax credit only applies to first-time homeowners who buy homes before Dec. 1. In addition, single buyers need a modified adjusted gross income of $75,000 or less; married couples need $150,000.

Coble’s bill, known as the Home Ownership Moves the Economy Act of 2009, has been referred to the House Ways and Means Committee.

Coble was prompted to write the legislation after visiting Richard P. Martin, a High Point builder who couldn’t sell his houses. Martin suggested expanding the current tax credit law.

“My gosh,” Coble recalled thinking. “Why not just extend it another year? That would be an incentive to come near jump-starting the economy.”

Under current law, the tax credit does not have to be paid back unless the homeowner sells the house within three years of purchase.

Coble is seeking 50-75 co-sponsors for the bill. He sought advice from home builders and real estate agents, who liked the proposal, he said.

“Nobody discouraged me, so it’s having a positive run,” he said.

Eddie Potts, vice president of mortgage loans at NewBridge Bank for Forsyth County, said first-time buyers already have expressed interest in the current tax credit.

“If buyers in general knew that they were going to be reimbursed … I think that would generate a lot of excitement,” Potts said.

Interest rates for 30-year fixed-rate mortgages have been at record lows in recent months, spurring a lot of buyers.

But rates have been creeping up in recent weeks, worrying some in the housing industry that buying could start dropping off again. On Wednesday, the rate on a 30-year fixed-rate mortgage was 5.79 percent, up from 5 percent just a couple of weeks ago.

Martin said enough people are not taking the bait of low rates and the current tax credit; some of his houses have sat idle for almost a year.

Martin started writing Coble in the winter and expressed his concerns about the housing market while showing the congressman his vacant CastleRidge property off Trafalgar Drive about a month ago.

Coble said that the economy thrives when the real estate market thrives. Martin agrees.

“Right now, we’re having a problem selling homes,” Martin said. “And I think he’s trying to get something done in Washington that will affect our community directly.”

He said the housing industry affects so many other businesses, that it cannot afford to slump any longer.

Martin likened what the economy and the housing industry are to a car and its weak battery.

“It’s not that the battery is dead, it just needs a jump start,” he said.

“Once it gets started, it’ll take care of itself.”


Friday, June 12, 2009

Tuesday, June 9, 2009

Plastic Solar Film


Solar technology is advancing rapidly. Although solar panels are still popular, new technology is likely to encourage more people to utilize green energy sources. Solar panels may shortly be replaced by solar film which is much less expensive, flexible, and has been shown to be more effective under different weather conditions. The film is not important but instead it is the ink that converts sunshine into energy. This ink is then merely printed onto the plastic film.


There are many solar advances that have taken place but to view this particular solar film shown printing above, go to www.konarka.com

Monday, June 8, 2009

Swimming Pools: Things to Consider

Do you have a pool, or are you thinking of putting one in your backyard? Whether you have a luxury in-ground pool, or plan to blow up the simplest of inflatable above-ground pools, it is important to consider the insurance and safety implications.

Swimming pools have been steadily rising in popularity, with more than 8.3 million households owning an in-ground or above-ground pool- up almost 10 percent since 2002,according to an annual report by the Association of Pool and Spa professions.

"All pools- from a simple kiddy pool to an aquatic extravaganza- can be dangerous and need to be properly insured and comply with local safety standards," said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I (Insurance Information Institute)

According to a May 2009 report posted at the U.S. Consumer Product Safety Commission's Web Site, 886 children aged five and younger died after drowning in either a pool or spa between 2004 and 2006. The report also shows that the majority of these deaths and injuries occurred in residential settings (79 percent)and that the parents or caretakers lost contact or knowlege of the wherabouts of the children involved (46 percent) before the child managed to access the pool or spa. Fatal drowning remains the second-leading cause of unintentional injury-related death for children ages 1 to 14 years; for every child who dies from drowning, five receiveemergency department care for nonfatal submersion injuries.

When considering a pool:

Contact your town or municipality
Each town will have its own definition of a "pool," often based on its size and water depth. If the pool you are planning to buy mets the definition, then you must comply with local safety standards andbuilding codes. This may include installing a fence of a certain size, locks, decks and pool safety equipment.

Call your insurance agent or company representative
Let your insurance company know that you have a pool, since it will increase your liability risk. Pools are considered an "attractive nuisance" and it may be advisable to purchase additional liability insurance. Most homeowners policies include a minimum of $100,000 worth of liability protection. Pool owners, however, may want to consider increasingtheamountto $300,000 or $500,000.

You may also want to talk to your agent or company representative about purchasing an umbrella liability policy. For an additional premium of about $200 to $300 a year, you can get $1 million of liability protection over and above what you have on your home. This would also provide added liability protection when you drive.

If the pool itself is expensive, you should also have enough insurance protection to replace it in the event it is destroyed by a storm or other disaster.


Information provided by:

Sue Richardson
Allen Tate Insurance