It seems that foreclosures in North Carolina are finally declining. Down 7% in January from the previous month, and down 29% from January 2008. Statistics show that North Carolina's home values did not decline as far as the national average during the past year. Foreclosures are still an excellent investment for those investors interested in flipping properties. Unfortunately, many foreclosures are trashed, but as long as they are structurally sound, quick and easy repairs can give you a good return on your investments. The trick is to find the right priced home in the best location. For more information go to RealtyTrac.com.
Foreclosure Activity Counts in North Carolina
Foreclosure Activity Per Month in North Carolina
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From this........
To this in one week!
Well, almost, but it was 14 degrees on Monday morning here and the high was 32 degrees that same day and here it is on Thursday and the high is supposed to be in the 50's and yet, the high for Saturday is going to be 70 degrees! What a difference and what a range of temperatures! I'm still looking at snow on the ground knowing that in two days it will be sunny, warm and dry! That's why when you travel to North Carolina you need to be prepared to dress in layers because you never know what the weather will bring.
But with warm weather brings lots and lots of outdoor sports and activities. Gardening, horseback riding, water skiing, fishing, boating, tennis, cycling, running, hiking and just about anything else you can think of to do. We have just about everything here in North Carolina. One of my favorite places to visit is the US National Whitewater Center in Charlotte. There you can enjoy whitewater rafting, kayaking, river tours, climbing, eco caching, ziplines and tightropes and have a full day of fun and adventure. Just 50 minutes away from Statesville, North Carolina where you are close to the foothills and some of the most beautiful scenery around. Do it all in North Carolina!
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!
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.
Area expert for Statesville for relocation, resales and horse property. Active in Statesville Chamber of Commerce & community events. Answers to your questions in minutes.
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