North Carolina

Fun Things to Do in Charlotte NC--Lake Park NC Kite Festival

03-12-12

Carol Fox, Charlotte Neighborhoods, Union County NC Real Estate Broker

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Office: (704) 814-6242

Mobile: (704) 905-3935

Fun Things to Do in Charlotte NC Charlotte’s Spring season is ushered in on the March winds. Those brisk March winds also bring residents of Lake Park NC their annual kite festival.

The Lake Park Kite Festival takes place on Saturday March 17th from 10am to 2pm. It’s held at Founders Park, a large level open space in the center of some of Lake Park’s residential areas.

I visited the Kite Festival a few years ago. Brightly colored kites filled the air in Founders Park. It was fun to watch families launch their kites with kids of all ages trying their hand at keeping the kites aloft. A local kite-flying club provided kite-flying demonstrations. The festival included other activities for children as well.

Lake Park is a small town in Union County NC that was developed as a master-planned new town. The master plan included a number of opportunities for outdoor recreation in a series of parks, lakes and open spaces throughout the town. The heart of Lake Park is the Village Green where ringing of the bells in the Bell Town greets visitors. A community center with swimming pools, a water playground and tennis courts overlooks the Village Green. Other parks, large and small, provide playgrounds, walking trails and opportunities for play and relaxation.

Want to know more about real estate and living in Lake Park NC? Visit www.CarolinaSmallTownLiving.com.

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Mimosa Bridge Replacement Project

03-12-12

Amy Hahn, REALTOR®, Crystal Coast, NC

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Office: (252) 727-5000

Mobile: (252) 723-7972
Secondary: (800) 605-8598

Mimosa Bridge Replacement Project

If you live in the Pine Knoll Shores, NC area, you need to know that the Mimosa Bridge Replacement Project is now underway! Signs are now posted for a detour of vehicular traffic, effective today 3/12/2012, from the intersection of Mimosa Boulevard and NC Highway 58 for the replacement of Mimosa Bridge. Access to Mimosa Bridge from Highway 58 will be closed. If you are a boater in the area, you will also need to learn different routes to navigate the canals. Fortunately, there are more ways than one to get to Bogue Sound!

The project is expected to be completed in late May, and will be wonderful when finished. There will be a walking path over the bridge, providing more safety for walkers in the area, and the bridge will also be about 10' higher than the bridge is now, which will allow more clearance for boaters! For more information about the project, visit www.townofpks.com.

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This Week's Best Buys on the Outer Banks - March 12th!

03-12-12

Ilona Matteson

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Office: (252) 261-6600 x232

Mobile: (252) 619-5225

MLS#73942 – Check out this pristine Oceanfront 9 Bedroom home in Ocean Sands. Everything you could ask for in this fantastic property! $1,999,999

MLS#73899 – Your chance to own a magnificent Oceanfront home in beautiful Sanderling! You’ll love the detail in this home. $1,799,000

MLS#73932 – What a great spot to spend year round living on the Outer Banks. Built in 2003, this is an awesome deal! $269,500

MLS#73926 – Your chance to own a Nags Head beachbox in a great location with beautiful wide beaches! $334,850

MLS#73199 – Another price adjustment for this gorgeous Canalfront home in Southern Shores! $417,900

MLS#72833 – Excellent deal on this very well maintained 5 Bedroom home in Ocean Sands. Just reduced to $390,000!

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Cause of the Housing Bubble – Culprits Exposed

03-12-12

Kathy Godin

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Office: (919) 919-9888

Mobile: (910) 309-2342
Secondary: (919) 789-9933

The greedy bankers did it. It’s commonly believed that easy credit was the cause of the housing bubble. Is it that simple? Let’s expose the culprits.

Meet Suzanne Pellegrin – she has a theory. Not a politically correct theory, but a theory. You won’t hear it on the news or read it in your newspaper. Not even the internet will tell you.

Who is responsible for the damage to the American Dream? Suzanne points to politicians as a starting point for her answer. They promoted programs and policies making it easier for Americans to own their own homes. They opened the door.

The money people took note. Lenders calculated they could make money following the government’s lead. Lots of money. They felt that the government had minimized their risk. With reduced risk and large opportunity for profit, they joined the game.

Real estate agents joined the parade. A volume of commissions was on the horizon so why wouldn’t they jump on this golden opportunity. Agents began banging the drums touting the American Dream. Prices kept going up. This was good since they were paid a percentage of the sale price.

Americans had jobs so they bought homes. Thrilled about this increase in mortgage applications, mortgage lenders were only too happy to help people finance their new home. Interest rates came down which opened up the profitable re-fi market. Houses were refinanced for higher and higher amounts. Some enterprising loan originators wrote mortgages where borrower did NOT have to prove his income (a borrower wouldn’t lie, would he?). They were sold on the idea by big banks who created no-doc loans. Everybody was making money – great day.

Appraisers, not to be outdone, became liberal in deciding what a house was worth. No harm done. With prices rising so fast, nobody would get hurt. Everybody was protected and they were making money.

Loans were sold on the stock exchange. Buyers bought them at a record pace. Why not? They paid well for such a safe investment. They knew they were safe – the rating agencies told them so. Rating agencies enjoyed the fact that people were buying their ratings in very large quantities. This pumped more money in the mortgage markets.

Why did the politicians start this crazy upward spiral? Americans are enthralled with the American Dream. They want a place to call their own. Politicians love pleasing the American voter. Election season is a good time to remind them of the help they provided to fulfilling the American Dream.

So Suzanne, who’s to blame? We all are. No evil intent. Just looking out for our self-interest. Nothing wrong with that. Truth is if we hadn’t all played our part it would not have happened.

Next time, Suzanne will tell why it all went wrong.

Kathy Godin, Award-Winning Loan Officer and Branch Manager
Prime Mortgage Lending, Inc.
(919) 789-9933
Where people, not computer robots, answer the phone.
Proudly Serving All of North Carolina

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Wake Forest NC Real Estate - Weekly Market Report for March 4 - 10, 2012

03-12-12

Leesa L. Finley -Wake Forest NC REALTOR® Wake Forest NC & Raleigh NC Real Estate

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Office: ( ) Use-Cell

Mobile: (919) 649-6128
Secondary: (919) 961-4371

The Wake Forest NC Real Estate Market is definitely shaping up nicely for Spring! There were MANY new listings that hit the Wake Forest NC Real Estate Market this week and just since mid February there have been 84 homes homes for sale added to the mix! Competition is ramping up for a stellar Spring season - don't miss it! If you want to get your home in the best possible condition for the Spring Real Estate Market check out a few of the tips that I offer - you HAVE to be competitive and on top of your game. Here are some great tips to get you prepared!

There were 32 fresh new listings added to the Homes for Sale inventory last week with two of them being short sales! Just an FYI - there have been indicators that a few mores short sales and foreclosures will be hitting the market this Spring making competition even more fierce! The price range for new listings ranges from $80,000 - $750,000 with a variety that includes townhomes, starter homes and luxury homes. The breakdown of the new listings last week is:

Fair Market Resales - 21
REOs - 4
New Construction - 5
Short Sales - 2

Fourteen (YES - 14!) homes closed last week in Wake Forest NC. The Sales Prices range from $135,000 - $485,000 with a List Price to Sales Price ratio of .973% - FANTASTIC! Lesson learned? Price it properly to start and it will sell! Here is the breakdown of Homes Sold in Wake Forest NC last week:

Fair Market Resales - 6
REOs - 1
New Construction - 6
Short Sales - 1

Nine home sellers in Wake Forest NC received contracts on their homes last week and it really is no surprise that ALL of them hit the mark for the most popular price point in Wake Forest NC. Do you know what that sweet spot is? You can check out ALL the price points in Wake Forest NC here - Wake Forest NC Real Estate Price Points - January 2012 Here is the breakdown for Pending Listings last week:

Fair Market Resales - 5
New Construction - 3
REOs - 1

Quite a few listings, 12 to be exact, had their status changed to Contingent last week. A Contingent Status reflects "conditions to be met" such as "contingent on inspections", "contingent on bank approval if a short sale" or even "contingent on buyers loan approval". There are a multitude of reasons that a property could be Contingent and one thing to keep in mind is if you see a home that you are interested in and it is "Contingent" you should have your agent verify the reason for the contingency. You never know, a back up offer could be made and you could end up getting the home!

The Spring Real Estate Market is going to be stellar this year - don't miss out on this fantastic opportunity to sell your home in Wake Forest NC! If you are looking for some tips to get your home ready for the Real Estate Market check out Putting Your House on the Market This Spring? Get Ready NOW!

As I always say, if you would like specific information about YOUR neighborhood just give me a call or send me an email - I'd be happy to help!

Wake Forest NC Real Estate Market Report