Cheryl Powell- SFR,ABR,Broker,Realtor- Remax Signature- Concord NC Real Estate

Well, here we go again... another NECESSARY consumer service is going to cost us more, just when the average consumer is having a hard time making ends meet.

On Thursday April 9, the Concord NC City Council voted 6-0 to raise the electricity rates of its customers by 9%! They say that the increase in due to an increase in fuel charges and a change in their contract with Duke Energy. The city of Concord buys their electricity from Duke Energy at a wholesale rate and resells it to their customers.

Supposedly, the rate increase will cost the average household $7 per month. Even though Concord NC electricity rates are relatively low as compared with many areas across the country, if the price of EVERYTHING keeps going up when incomes are going down and 11.2% of workers are unemployed... how many households, who are barely keeping their heads above water, will sink?

For more information about the rate increase, check out this article in the Independent Tribune. Concord to raise electricity rates

According to the North Carolina Employment Security Commission, the February 2009 unemployment rate increased in 99 of the 100 NC counties. February marked the 13th straight month that the North Carolina unemployment rate increased, statewide February's unadjusted unemployment rate was 11.3%. This is the highest recorded NC rate of unemployment.

When you take a look at the specific numbers of unemployed workers, instead of just looking at the percentages, I think that the reality of how many families are affected by this tragedy really comes to light.

For example... in Cabarrus County, where I live and work, there are 82,865 people in the labor force. Out of this number 9,270 individuals were unemployed and collecting benefits in February, this correlates with an 11.2% unemployment rate. Since most households have more than 1 wage earner, the number of HOUSEHOLDS with at least 1 unemployed member would be much higher than this. When I relocated to North Carolina in July 2000, the unemployment rate was approximately 3%... now that's a dramatic change.

Since the stock market has started to rebound slightly (the DOW closed at 8083.38 on Friday 4/10/09 after reaching a low of 6547.05 on 3/9/2009), hopefully businesses will start hiring again soon!

Check out the April 1, 2009 Employment Security Commission of NC press release for more information.

What is a short sale? A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan.

I am a Charlotte North Carolina area Realtor, who specializes in negotiating with mortgage companies on behalf of homeowners who owe their lender more than the current value of their home and are experiencing a financial hardship, requiring immediate sale of their home. This process is commonly referred to as a "short sale".

Here are some FAQs and basic information about Short Sales:

• Do I qualify for a short sale? If you owe more than the current value of your house and are in some type of financial hardship requiring you to sell your home quickly, you may qualify for a short sale. Some common financial hardships include: loss of job or diminishing income, relocation, death in family, major repairs needed to the house that you can't afford, illness or divorce.

• How can you help me? I am a licensed Realtor who will represent you fully, and look out for your best interests in the sale of your property. In addition to marketing your property to sell as quickly as possible, I will work with you and negotiate on your behalf to obtain complete forgiveness of your debt from your lender, regardless of the price your property sells for.

• How much will it cost? My services are absolutely FREE to you, your lender will pay the real estate commission at closing.

• Why will my lender accept less than I owe them? Lenders prefer to negotiate a short sale instead of letting a property go into foreclosure, because foreclosures are very costly to the lender... therefore we have a good chance of success!

• Do I have to be in default (behind on my payments) to do a Short Sale? You do NOT always have to be in default to qualify for a short sale

• How will a Short Sale affect my credit? A short sale typically doesn't have as much of a negative effect on your credit rating as a foreclosure. I was told by an experienced loan officer that you must wait 4 years after a foreclosure to purchase another home using traditional financing, but only one year with no late payments after a short sale... you will have to meet other lending guidelines as well, so consult a loan officer for evaluation of your specific situation. For more specific information regarding the effect of a short sale on your credit rating, consult all 3 major credit bureaus directly, consult an attorney, or consult your CPA/financial advisor.

• An Investor contacted me directly to BUY my house, wouldn't I be better off working with them? If you are in financial hardship or faced with losing your home, BEWARE of investors who contact you directly to buy your home and negotiate with your lender on your behalf. It is my opinion that you should list your home with an experienced Short Sale Realtor who will negotiate with your lender on your behalf. Most investors who contact distressed homeowners directly (usually getting your name out of the paper) are NOT Realtors and won't owe you any legal/fiduciary responsibility. So, why would you want a person like this to have your personal information (such as Social Security Number & Mortgage information), negotiate with your lender to get the best possible deal for THEMSELVES, have legal Power of Attorney for you in the transaction, have the legal right to rent out your home and keep that money for themselves during the short sale process, etc? These investors draw up contracts containing many provisions that benefit them and protect their rights, while limiting your rights in the transaction. It may sound unbelievable, but this is happening every day!

I'm a Short Sale Specialist in the Charlotte North Carolina area who offers professional real estate guidance and short sale services to homeowners. I personally negotiate with your lender on your behalf, NOT an assistant or a short sale negotiator/sub-contractor hired by some short sale listing agents, so I will always know the status of your short sale and keep you posted on the progress. Experience counts when it comes to short sales, and not all Realtors have this experience, so...

Contact me today at 704-363-8902 or cherylpowell@remax.net for a FREE, confidential, no obligation consultation to discuss your options and a possible short sale.

If you're planning a trip to Cabarrus County or Concord North Carolina you should check out the Online Visitors Guide. The Online Visitor's Guide was created by the Cabarrus County Visitor's Bureau to provide easy access to vacation planning information on hotels, events, entertainment and NASCAR race visitor information in Cabarrus County.

Cabarrus County is located just north of Charlotte North Carolina and includes the cities of Concord, Kannapolis, Harrisburg, Midland, and Mt. Pleasant. Cabarrus County is the home of Lowes Motor Speedway, NASCAR Race Shops, Concord Mills Mall, zMax Dragway, Dale Trail, Reed Gold Mine, Great Wolf Lodge (Carolina's largest indoor water park) and more.

If you're relocating to the area contact Cheryl for a FREE relocation package.

To search ALL currently available real estate listings and homes for sale in Salisbury North Carolina in Rowan County, and surrounding areas, visit The Powell Team - Property Search Website.

When you are ready to contact a Realtor, I'd appreciate the opportunity to earn your business. As a Real Estate Broker, Realtor, and Accredited Buyer's Representative (ABR) with more than 9 years of new construction and residential real estate experience, I have the knowledge and dedication that you are looking for. Contact me today for one-on-one professional help and advice!

You can also access many other helpful real estate tools on our website, such as:

• Search Foreclosure & Preforeclosure Properties in Salisbury NC and the across the US.
• FREE Personal Home Search Website, custom designed and updated daily directly from the MLS, displaying only the homes meeting your specific criteria. Contact Cheryl Powell with The Powell Team today or Complete This Form to get your website today!
• Get Your Home's Value Instantly get an estimate of your home's current market value & receive a list of recent sales of homes similar to yours, compiled from local county records.
• Request a FREE, No Obligation CMA if you would prefer a more extensive professionally prepared estimate of your homes current market value.

For more information about homes for sale in Rowan County and Salisbury NC, or general information about Salisbury NC area real estate visit our team website at www.ThePowellTeam.net. CONTACT Cheryl Powell with The Powell Team at 704-363-8902 anytime to discuss your real estate needs.