This one-of-a-kind lakefront lot is truly unique within the Malone Bay community. It is one of the most desirable, if not the most desirable lot among the few remaining properties with waterfront access to W. Kerr Scott Lake.

Malone Bay features 18 lots at W. Kerr Scott Dam & Reservoir. 14 are Lakefront and meet private dock requirements. This is a gated community with Lots ranging from 2.3+- acres to 6.8+- acres On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

Main Channel Views.
300 feet of waterfront.
Dock with boat slip and 2 jet ski slips.

2.86 acres.

MLS Number: 51155
List Price: $359,000
Lot Size: 2.86 ac.
Apx Acreage: 2.86
Type: Waterfront
Area: Area 2
Suitable Use: Residential

Topography: Rolling
Utilities: Underground Utilities
Road Frontage: Private Road
Restrictions: yes
Water/Sewer: Public Water
Miscellaneous: 1-5 Acres
Location: Malone Way

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A paint job is only as good as the preparation. Preperation is a boring process, but if you invest the time and effort, a good prep job will pay lasting dividends. Usually, the first step is to clean the surface to be painted by pressure washing. However, sometimes an older home’s buildup of multiple layers of paint requires stripping the paint to the bare wood. If this is the case, use a propane torch or electric heat gun to strip the old paint before pressure washing.

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search for : paint job, clean the surface to be painted, multiple layers of paint, strip the old paint before pressure washing

Market data appears to support Greenspan’s prognostication that home prices are due to experience a further drop in value. And, according to real-estate market researcher RealtyTrac Inc., the number of Americans in danger of losing their homes to foreclosure has more than doubled just from last year. According to that company, lenders sent notices of default to 108,716 homeowners in August, more than two-and-a-half times the level of a year ago. Also, the total number of foreclosure filings rose 115% to 243,947 in August from a year earlier. That figure includes defaults, scheduled auctions, and bank repossessions.

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Numerous reports that some products made in China contain lead, it is prudent for homeowners and renters, particularly those with small children, to test for lead hazards. Windows, doors and peeling paint are the primary problem areas even though lead has been banned from paint made for residential use since 1978. When lead paint has been painted over, peeling or friction from opening and closing a door or window can produce chips and dust containing lead.

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Some home buyers continue to pay their original monthly mortgage payment because they are lulled into the assumption that they are receiving a fat tax deduction from Uncle Sam. They think the situation is tenable because the annual Internal Revenue Service 1098 form that arrives from the lender shows big-time interest payments that make fat mortgage payments worthwhile. Unless you are strapped with an immediate need for a large sum of money (medical emergency, pressing family need) the decision to refinance should be based on how long you will be in your house. Never, ever take out a larger loan only because you believe it to be a wise “tax-deduction” play.

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You’ve finished your dream house but haven’t yet sold the home we now own. It’s a common dilemma these days, given the huge inventory of homes on the market. Without a bundle of ready cash, you may have two options to help with the down payment, and possibly the mortgage payments and property taxes for both houses until you sell the old one: a home-equity line of credit or a bridge loan. One is a home-equity line of credit. It may feature the cheaper rate with minimal or no fees. Your alternative is the more expensive bridge loan, typically a one-year interest-only loan specifically designed to cover the financial gap between buying a new home and selling the old one, using the older house as collateral.

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search for : mortgage payments, home-equity line of credit, bridge loan

There’s good reason that relocating ranks alongside divorce as one of life’s most stressful events: It’s expensive. Even if you’re moving for a higher-paying position, your spouse may have to quit a job and look for a new one, which could pummel your household income. You might be forced to sell into a frighteningly declining real estate market. With mortgage rates on the rise, monthly payments for your new place are likely to be higher. Then there are all the expenses of settling in, from buying furniture to putting in an updated kitchen.

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Beautiful Wilkes County NC Executive Country Club Home.

MLS Number: 51211 List Price: $359,000

Bedrooms: 3, Full Baths: 2, Half Baths: 1, Est Total SqFt: 3425+
Type/Style: Tudor, Two Story, Area: 6
Elementary School : Moravian Falls Elementary
Middle School: Central Wilkes
High School: Wilkes Central

Construction: Brick Veneer & Other, Solid Masonry Foundation: Basement, block & brick. Roof: Shingle – Composition, Two Years Old, Floors: Carpet/Hardwood/Tile
Garage/Carport: Garage-Double Attached
Interior Features: Smoke Detector(s), Ceiling Fan(s), Newly Decorated, Painted and Carpeted, Central Vacuum, Large Master Bedroom, Walk-In Closets, Hardwood Floors, Basement, Two Fireplaces (Rock and Brick), Gas Logs, Workshop in Basement, Walk-in Cedar-lined closet, Formal Living Room, Dining Room, Den with Oak Bookshelves and Cabinetry, Cable TV w. broadband Internet

Exterior Features: Tiled Patio/Deck and Walkways, Very Private Yard, Level Lot, Set Back From Street.
Subdivision: Farmington
Lot Size: 1.14 acres

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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Just in time to take advantage of the current inventory of foreclosures and other financially distressed properties, this new book explains the basic procedures, when and how to use each one, containing useful real-world information that can assist you in starting or furthering your real estate investing. This highly organized, easy-to-read book is not only very enjoyable, it is highly educational even if you have considerable real estate experience. The author explains virtually every property acquisition method and when to use each. He heavily emphasizes how to acquire properties using little or none of the investor’s own cash.

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search for : foreclosures, financially distressed properties

Americans experienced rising housing costs for 2006, despite signs of a slowdown in the housing market, according to figures made public today by the United States Census Bureau. The housing data describe the buildup of economic pressures before the recent wave of foreclosures, as lenders allowed home-buyers to borrow more money relative to their earnings and consumers borrowed or refinanced as if the market would never fall. Fourteen percent of mortgage-holders spent at least half their income on housing in 2006, up from 13 percent last year, while among renters there was little change. In both years, 25 percent of renters spent half their income on housing.

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Seminars promising quick wealth with little effort regularly crop up in each new real estate cycle, be it boom or bust. With foreclosures surging around the country, investing in distressed properties has become a hot topic. National Foreclosure Institute seminars are operated through a contractual relationship with Telligenix, a Florida-based company that oversees the marketing for a number of real estate investment courses. A spokesman for Dynetech, a holding company for Telligenix, said that all seminar instructors must be actively involved in foreclosure investment and pointed out that the fee-based courses are approved for continuing education credits through the International Association for Continuing Education and Training.

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Is it good personal finance to refinance your investment property mortgage with an interest-only loan. What’s good about the interest-only loan is that you aren’t paying down the principal balance over at least an initial portion of the loan term. That improves the monthly cash flow on the property and keeps the mortgage interest expense constant over time. A common interest-only structure is a 5/1 or 7/1 adjustable rate mortgage, or ARM. Fixed-rate interest-only mortgages are available — the typical interest-only loan is not interest-only for the life of the loan, just over an initial term. At the end of that initial term, the loan payment will be recalculated to include the repayment of principal. Because the principal repayment takes place over fewer years, there can be a big jump in the monthly mortgage payment.

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Landlords pick applicants who have track records as good tenants. There’s nothing wrong with this approach, and it works, after all, people are creatures of habitl. But the other factors are less telling. Applicants should consider writing a letter of introduction in which they describe themselves and their commitment to being good tenants, with some supporting evidence, such as college transcripts. Good grades and no “incompletes” spell maturity and follow-through, both qualities that landlords look for.

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As the housing crisis deepens in many parts of the country, a growing number of potential home buyers are turning instead to the rental market. While builders and real estate agents are feeling the pinch, the apartment industry is savoring its recent prosperity. The fastest rent growth is occurring in the West, where housing prices tend to be the highest and the number of foreclosures and mortgage delinquencies are concentrated, while the South (except Florida) had the lowest rent growth. While many renters are concerned about the increasing costs of their monthly housing expenses, they are demanding amenities comparable to what home buyers want. More than 36 percent of respondents to a recent survey said that air conditioning is the one amenity they could not live without.

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search for : rental market, monthly housing expense

A property’s picture appeal or attractiveness in photos posted in online listings, is important. Eighty percent of home buyers used the Internet last year to search for a home, and nearly 25% reported that the Internet is where they first found the property they purchased, according to a National Association of Realtors survey. Without pictures buyers are less likely to go see a house. In most cases — 85% of the time — online photos are the first view of a home. Poor pictures tend to turn buyers away. Photographs are powerful bait. Good ones can lure buyers; poor ones can do the opposite. Follow these tips to create flattering photos of your property.

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$5,850,000

MLS Number: 50913

City: Valle Crucis, NC
Stories: 2
Bedrooms: 4 Baths: 4.5
Area: Boone-Blowing Rock, NC
Year Built: 1990
Plus Five fully furnished 1,400 sq. ft. Rental Cottages. Each built in 1996 on approx. 1/2 acre sites. Current cottage average annual rental income $150,000.

39.4 acres with 360 degree view of Blue Ridge Mountains.

5,200 sq. ft. main house built in 1990 on 1.24 acres.

No restrictions and no zoning offer many other options:

* Family compound
* Corporate retreat
* Religous retreat
* Horse farm / Dude ranch
* Recording studio
* Cottages can be sold separately
* Land can be further subdivided if desired

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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We all have more stuff than ever before and unfortunately a lot of that stuff gets crammed into the closets. Then, when you put your home on the market, prospective buyers reach for a closet door and are greeted with an overstuffed, unorganized mess. They don’t see your valuables as prized possessions; instead what they see is too much stuff and too little space. Being organized on the outside of your home creates curb appeal that gets prospective buyers in the door. Then keeping them there long enough to decide they can’t live without your home requires careful, well-thought-out organization inside your home.

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As people age, the home that has been so easy to navigate can become an obstacle course, particularly to walker and chair-bound individuals. But there are ways to prepare a house for the needs of the disabled without making it look like a geriatric ward. For example, when renovating a bathroom, it makes sense to install a shower stall that does not have a high step. And if a new bathtub is being installed, getting a model with a built-in seat is a good idea. If work is being done on the bathroom walls, it pays to reinforce them so that grab bars can be installed later if they become necessary. If drawers and cabinets have small round knobs, they can be replaced with D-shaped handles that are easier to grasp.

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search for : chair-bound, geriatric ward

Homeowners dislike paying private mortgage insurance (PMI). The idea of the mortgage holder paying an insurance premium to protect the lender just doesn’t sit right. Using a piggyback loan structure to avoid paying PMI on the first mortgage is an option. The downside to that is the interest rate on the second mortgage is often at an above-market rate, especially if there was no, or little equity in the property. There are some other options as well. Consumers can shop for a first mortgage that doesn’t require PMI, called a self-insured mortgage when the lender prices the default risk into the loan. These loans usually command a higher interest rate than a conventional mortgage.

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Mortgage lenders indicate that the last thing they want to do is foreclose. Seizing a delinquent borrower’s house costs then money in lost revenue and increased (employee) overhead. The key to keeping the house is to make it less expensive for the lender to work with you than to foreclose on your loan. In about half of foreclosures, the delinquent borrower never talked to the servicer. The lenders biggest challenge is getting folks to respond to the late notices. Embarrassment and shame keep delinquent borrowers from talking to the servicers. Maybe it’s because the borrowers are financially unsophisticated, so the whole process is intimidating to them. They feel that if they just ignore it, it will go away.

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search for : Mortgage lender, delinquent borrower, foreclose

Buying land to build your a home is a complicated process. Terms like zoning, wetlands and building footprints fly about, as plans for the perfect home are patched together under the advice of a lawyer, real estate broker, architect and landscape designer. Each community will have its own restrictions that dictate how much of a given parcel can be occupied by structures, including the main house, detached garage, pool house and even a tennis court. A setback determines just how close a building structure can be to the property lines. With county zoning, there are setbacks even if you were building in the middle of a cornfield.

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search for : zoning, wetlands, building footprints

Potential home buyers need to get their financial houses in order. People must be responsible for their own financial behavior that will keep others from putting them in risky loans. They need to know all sources of income and where every penny goes. One can’t know where costs can be cut until the potential homeowner knows in detail what those costs are. A budget will provide a roadmap to financial security. In addition to money for the down payment, lenders today will expect that the borrower has cash left over for insurance, taxes, maintenance and other costs that come with homeownership.

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The Center for Responsible Lending claims that the subprime market causes a net loss in home ownership, implying that if the subprime market were shut down, home ownership would rise, a startling claim that deserves careful scrutiny. To determine whether the subprime market increases or decreases home ownership requires a comparison of two numbers. The first is the number of homeowners who would not be homeowners if not for the subprime market. The second is the number of nonhomeowners who would be homeowners if not for the subprime market. If the second number is larger than the first, which the CRL claims to be the case, the market reduces home ownership. The CRL measures the positive contribution of the market as the number of subprime loans to first-time home buyers. It measures the negative contribution of the market as the number of subprime foreclosures.

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Beautiful Wilkes County NC Timber Frame Home and Mountain Property.

MLS Number: 51166, List Price: $898,500

2 Bedrooms, 2 Baths, 2 half baths, 2 car attached garage, full basement, and a barn on 5 acres of land.

These terms are used to describe thousands of homes and yet some things just can’t be described, they have to be experienced. This is one of those homes that really has to be seen to be appreciated.

This majestic Timber Frame home of the Bob Timberlake genre is not just another house, it provides a feeling of home that is not about walls and floors and windows and doors. It creates a feeling of the flow between your outdoor and your indoor environment that is seamless. Everywhere you look there is a view. Everything you touch feels natural and beautiful in a way that cannot be described, only owned.

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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September and October are the best months for preparing your lawn for winter dormancy. The first thing to do is fill in any bare spots by “overseeding.” Fall is the best time for establishing grass because the soil temperature is cool, and there is a lot less competition from weeds. Another thing to do over the next few weeks is to fertilize. Most home and garden centers are now carrying fertilizers designed for use in the fall. Homeowners should also check the soil’s pH level and make adjustments if necessary.

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Some of the most popular buyer incentives available in today’s buyer’s market are down payment help, a mortgage buy-down, prepaying HOA dues and offering to pay for a homeowner’s warranty. A surprise offer of leaving some home furnishings, especially those custom-made to fit a part of your house, can be profitably sacrificed if they help close the deal. After all, you likely know where and how to get another one. If the buyers are smitten with it, they may be more inclined to meet your terms if you agree to leave that prized puzzle piece in place.

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