Statesville, NC

Little Donk, one of my favorite pets I have on the farm and one of three minis. The other two are miniature quarter horses. Little Donk was born on the farm next to us. He is roaming the yard freely in this pic and I thought he was very nice to stand for a pic. This is his first snow as he is only 10 months old.

This is one of the reasons I love my farm. Beautiful private lake views on a snowy day.

And of course, my quarter horse, Lakota investigating the camera. Wish you could be out here to see how beautiful it really is with the horses running through the snow sending white sprays up in the air as they gallop and play. The dogs are trying to tunnel through the 6 inches of snow we received and loving every minute.

And me and my daughter making snow angels, rolling and laughing together like we were kids. What a wonderful life!

www.SherryMills.net

BUYERS GET OFF THE FENCE IN STATESVILLE NC

While reading the article below, I could not agree more and wonder why more Buyers were not taking advantage of the BUYERS MARKET that we are experencing in Statesville NC. Now is the time to get off the fence and buy. When the market turns around and it will, the home buyer will have instant equity on their investment.

If you need help finding your next home, please call me at 704-880-5490, visit my website or send me an email at Shannon@MyExitHomeTeam.com

Shannon Griffith, Realtor with Exit Home Team Realty in Statesville NC. I specialized in providing Professional, Honest & Personalized service for all of your Real Estate needs.

Get off that Fence!

by Denise Lones

I've been saying it for months, and I'll say it again. NOW is the time to get off the fence and buy!

And you're doing a huge disservice to your clients if you don't make sure they hear that message loud and clear! Why am I so convinced that the time is now? Well, it's a combination of things. Regardless of whether you're building a new deck, or whipping up a batch of cupcakes, you need the right ingredients in order to ensure success.

For the buyer considering a purchase, the right ingredients are at hand. Today, right now, is the time to act. Here's why: Mortgage rates are low, lower than they have been for many years. In fact, they're approaching historic lows! Yes, you actually have to qualify for a loan now. But I guarantee you there are lenders out there who are ready, willing, and able to lend you mortgage money at very attractive rates. Inventory levels are high. Unfortunately for sellers, buyers have an enormous number of homes from which to pick. In many markets, inventory is at an all-time high. As a result, buyers no longer have to "settle" on a home that's not what they want.

Sellers are motivated. Whether they are in trouble with their financing, worried about their employment, or having to make lifestyle changes as a result of losses in the stock market, many sellers need to sell and are willing to negotiate accordingly. First-time buyers can also get a $8,000 non-repayable tax credit from the government. And you can apply it to either your 2008 or 2009 taxes. We may already have reached the bottom of the market. Some buyers are still waiting, trying to buy at the very bottom of the market. Funny thing about that - you never know you've hit the bottom until prices are on their way back up. And many buyers don't realize that an increase in their mortgage rate will completely eliminate any advantage they may have gained by waiting for prices to decrease by a few thousand dollars more.

So, yes, I feel strongly that buyers who don't make a move right now are missing a huge opportunity. Be the agent that encourages them to make what could be a very wise move!

Published: February 26, 2009

If you are one of the many hardworking people that have been finding it increasingly difficult to make those house payments every month, you may find relief coming soon. The new Homeowner Affordability and Stability Plan is going into affect on March 4, 2009. Some key points to be aware of is that this is not for everyone and your lender does not have to accept your request to refinance. However, the Plan does give the lender incentives to meet your request and more lenders are expected to take advantage of these incentives. So here is the skinny:

1) You may have the opportunity to refinance into a 30 - 15 year fixed rate loan.
2) Eligible loans will now include new first mortgages (including refinancing costs) that do not exceed 105% of the current market value of the property. ex: property = $200,000 but you owe $210,000 or less you may qualify.
3) The current value of your property will be determined after you apply to refinance.
4) You have to prove sufficient income to make the new payment and an acceptable mortgage payment history.
5) If you have a second mortgage, it is to remain in second place.
6) Borrowers whose interest rates are much higher than the current rate should see an immediate reduction in payments.
7) Interest only payments may not change with refinancing, but should save you money over the life of the loan.
8) The interest rate will be based on the market rates in effect at the time of refinance, plus any points and fees quoted by the lender.
9) The program is limited to loans held or securitized by Fannie Mae or Freddie Mac. Contact your lender to find out if this fits your loan.
10) You will need information about gross monthly income, including pay stubs, your most recent tax returns, information on any second mortgages, payments on credit cards including student and car loans.
11) You must occupy your house as a primary residence, including 2, 3 anf 4 unit properties. Your monthly mortgage payment is greater than 31% of your monthly gross income and you loan is not large enough to exceed current Fannie Mae/Freddie Mac loan limits. Final eligibility to be determined by your lender based upon your financial situation.
12) You will not be charged a fee, so beware of companies that do charge a fee and contact your lender.
13) Lenders will send letters to potentially eligible homeowners after March 4th. If you do not here from you lender, please contact them, but understand that they will be receiving many phone calls and it may take them time to contact you back.
14) Mortgage lenders participate on a voluntary basis. The government is offering substantial incentives to lenders who participate.

Search more information on the Homeowner Affordability and Stability Plan by clicking on the title, or email me with questions at Sherry@SherryMills.net, www.SherryMills.net

You tell me. I have lived here since 1992. It's full of wonderful people. I have seen the town grow and continue to improve on a yearly basis. The Statesville Chamber is very active in working with people all over the state to constantly improve our city. Spring is just around the corner and we will have wonderful displays of flowering plants. People will be out in their yards again waving to passerbys. That is one of the great things about this city. The friendly atmosphere.

Another great thing about Statesville, NC is the lack of heavy traffic. If you are used to zipping around town and fighting traffic, then when you come here you will be slightly miffed a time or two at how slow we move here. But after a few days, you will wonder why you were so upset with the slow local traffic and you too will find yourself slowing down and enjoying being able to go from point A to point B without getting road rage with someone cutting you off.

I've heard people complain about there not being any shopping here. But that is not true. We have a wonderful Belk's, JC Penny's, Sears and shops downtown with women's and men's clothing. I think people are just not used to taking their time to go downtown. We are all accustomed to going to our local mall where we are overwhelmed with choices. But I prefer to take a short trip to the downtown shops and take my time shopping and not feel rushed knowing I need to walk a mile in a mall just to get to a certain shop. I don't have to worry about fight traffic to get to the next shopping center. All I have to do is walk around the corner.

Not only that, but there is always something to do here. I love the fact that there is amature bull riding here in the summer. Cowboys from all over come here to stay and "train" and brush up on their skills by competing in the event. Also, there is always NASCAR to attend. The Civic Center almost always has something going on for weekends or just once again going downtown to the local entertainment centers.

So, if you live here or if you have visited or are going to visit, please let me know what you think is best about Statesville, North Carolina. You can email me your remarks and I will follow up with another blog posting your annonymous comments for our readers.

Sherry@SherryMills.net www.SherryMills.net

Practical Real Estate Advise for Practical Real People

First of all, let me say this article is not for the faint of heart. This advise may not be what you want to read or hear. If you are thinking about listing your home for sale because you would like to move for whatever reason, DON"T, unless you have the perfect salable home that anyone would be interested in buying. Or, unless you truly are a practical person realizing that you can no longer make a profit on your house. I'm not saying this to be discouraging but actually to help you take heed of what is going on. S & P is predicting that unemployment is going to reach over 9% by the first quarter of 2010 and that is when things will start to turn around. How do they know this? Crystal ball I guess, but they usually aren't often too far off the mark. So, once again, I say to you that if you can stay put, do so. At least if you are determined to market your home, or if you have no other choice, please market it priced to sell, which may be break-even point for some of you. Even hot vacation homes are not selling as quickly and prices are dropping daily.

If you think you are saving money by marketing the house as an Unrepresented Seller (unrepresented by a Realtor), maybe you are, maybe you aren't. Again, that depends on the market, your area, your availablity to show your home and your knowledge of the real estate market, rule, regulations and laws. If nothing else, at least go out and hire a good attorney (not a title company) to handle all the paper work. And I say, not a tile company, because who's going to watch your back should something go wrong? How do you know they are going catch any liens against the property?

How do you price your home to sell? Do you compare it to the foreclosed homes in the neighborhood? Say your neighbor down the street sells his home at a profit right off the bat, does that make your home as valuable and salable as his? This is where you get the benefit of a Realtor doing a market analysis of the area and the homes active and sold compared to yours. You really need the benefit of being able to compare apples to apples, especially today. If you have access to that information, good for you, but my experience has taught me that most people get their information from well-meaning neighbor's talk. Also, people have a tendency to put too much emotional value on a home that far outweighs the market value. this leads to a home being overpriced and staying on the market for years rather than months. When you are ready to sell, look at it as a business transaction. Remember, you can take memories and emotions with you. The house is just an object with monetary value.

If you need or want help or more information on how to market your home yourself, give me a quick email: Sherry@SherryMills.net, no obligation on your part to committ to anything. Free advice is free advice. www.SherryMills.net