Condominium units can be good options for first-time home buyers, for those who want a vacation getaway, investors, and those who want to downsize their living space. These housing units are usually less expensive than a single family home and can include attractive amenities.

In recent years, speculators entered into the picture, hoping to make a financial killing by buying low and flipping to a third party even before the units were ready for sale. Others wanted to buy solely to be able to rent the units.

As a result, many developers started to impose rental and resale restrictions. The most common were requirements built into the purchase and sales contract that limited a purchaser from renting the unit out for at least one year. Other provisions in the contract either prohibited a purchaser from flipping the contract, or if that purchaser really wanted to sell within a period of time (usually one year) the developer had the right of first refusal at the original purchase price. (more…)

search for : Condominium, flipping

Owners of primary residents or vacation condominiums have special needs to onsider when purchasing insurance protection. Condo owners need two policies to protect their investment, according to the Insurance Institute.

Personally, the condo owner needs an individual policy to protect dwelling contents, as well as structural improvements on the interior of the unit and coverage for fire, theft or other disasters covered in the policy.

Collectively, the condominium association should have a master policy that covers the common areas the condo dweller shares with fellow owners. This would cover the the roof, common walls, pool, and areas like sidewalks, walking trails, landscaping and parking. (more…)

search for : vacation condominium, condominium association

It’s easy for economic pundits to write that the best time to create strategies for thriving in a recession is during the boom that precedes it. Armed with the hindsight derived from watching the time line of economic decay over the past few months, one might be tough on consumers that have continued to add debt and spend beyond their means.

But, putting all that behind us, adopting a proactive approach, right now, will strengthen your ability to take advantage of opportunities for growth at a time when others with reactive strategies are scrambling to recover. Financial literacy is the place to start since what you do know and what you do not know about real estate and finances will respectively represent your strengths and weaknesses. (more…)

search for : recession, Financial literacy

The White House (with a cooperative Congress) has agreed upon an economic stimulus package that would put $150 billion into the hands of consumers and businesses. Hopefully, this “printing of money” will revive the market for large mortgages and increase real estate sales. All the while, a trickle down effect should occur, with sales for moderate priced homes as consumers find more spendable and discretionary income.

Economists say the measures, coming as the risk of a downturn rises, could boost growth this year by between three-quarters of a percentage point and a full point. One important provision temporarily raises the dollar limit on mortgages that can be bought or guaranteed by government-sponsored mortgage giants Fannie Mae and Freddie Mac. (more…)

search for : economic stimulus package, large mortgages

It’s rare for any one residential homeowner to hire an architect more than once or twice in their lives. Picking the right architect is somewhat to finding and selecting just the right financial planner. Experts suggest that a homeowner, select an architect who has designed projects that are similar in style and scope to theirs.

While there is no substitute for experience, designing a home is such a personal project, it’s important that the prospective homeowner feels able to communicate with the architect and his/her staff. A flat fee may be appropriate for projects whose scope is very defined. But construction projects often include unforeseen challenges. For that reason most architects prefer to charge by the hour or by a percentage of building costs. (more…)

search for : hire an architect, architect

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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search for : Malone Bay, W. Kerr Scott Lake, W. Kerr Scott Dam

Selling a home in today’s miserable real estate marketplace is certainly a chore. More than ever, we need to be smart when planning on the sale, even before listing the home with an agent, broker, or doing a “for sale by owner”.

First impressions are everything to a potential buyer. The loveliest home doesn’t have a chance with poor photography. Whether the listing occurs in the newspaper, real estate flyer, or on-line, photos are the first impression of your home for many buyers. With so many listings posted in some areas, trying to make out details in dark, blurry photos when there are a lot of other listings to look at could have a very negative effect.

Once you have enticed the prospect to a “walk through”, consider just how clean and presentable is your curb? Does it need to have sand, dirt or pebbles swept clean? Does it need to have leaves, cigarette butts or other debris cleaned up? Are there weeds or grass growing in the cracks and crevices of your curbs and sidewalks? Concrete curbs, sidewalks and driveways that are badly cracked or broken should be replaced. (more…)

Thinking of selling your home, condo or building lot? The more you know about the real estate market in your locale, the better your chance will be for getting the best possible price for your sale.

Making a smart deal and getting the best price always has meant studying the market and being an educated seller. But these days, with so much inventory on the market, selling “smarter” is even more important.

Strange as it may seem, home prices in some markets have actually gone up from last year. Plus, demand will change depending on the price range and even the neighborhood. So, it’s vitally important that you know the demand for a house, condo or building lot like yours in your area? (more…)

search for : selling your home

One of the fastest growing industries among the home trades is the energy audit. Although energy audits have been available for many years, this new crop of analysts is seen to be wielding high-tech tools such as infrared cameras. Armed with this recently affordable technology, these men and women can produce comprehensive reports on a home’s energy efficiency, along with suggested fixes and contractors.

To pay for these expensive tools, the information produced can’t cheap. The reports typically cost $300 to $700, though aid often is available for low-income homeowners. Some utilities provide audits free. Anyone can call himself an “energy auditor,” making it tough to know who is legit. Some suggest products and services to fix energy flaws, but don’t always disclose that they have ties to the products’ makers or sellers. (more…)

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It’s time to start thinking about how to make your home stand shoulders above the rest if you are planning to sell in 2008. However, don’t make unneeded repairs for which you won’t be able to recoup the improvement costs. The most important concepts of making your home salable are to give the appearance of being neat, clean and spacious.

Remodeling magazine found that homeowners could recover 83% of the cost of a minor kitchen remodel at resale compared with 78% of a major kitchen remodeling. Therefore, logic suggests that you replace a countertop if it’s crumbling but not if its only fault is having an outdated appearance. And, there’s no need to update to granite unless the competition has granite countertops as well. (more…)

search for : Remodeling

Last week’s response, from the Federal Reserve and the White House, through the Congress, may not be enough to counter the current recessionary fever gripping the United States economy. Even with mortgage interest rates approaching the 5.25 percent all-time lows of ‘02-’04, home sales continue to falter.

The last three weeks have resulted in a panicky stock market as demonstrated plainly on stock market charts. As the markets declined, everyone seems to have finally waken to danger, and the hazard itself continues to grow. Once confined to mortgages and the very strange “structured” IOUs, an economic pullback threatens defaults in a wide range of credits. The typical victims of an economic slowdown is credit, the result of a badly impaired system. If the credit market isn’t in complete and unmanageable shambles, then it’s close. (more…)

search for : recessionary fever, economic pullback

While there’s snow on the ground, it’s time to think of a remodel, or just a renovation of your vacation rental property. Many say that vacation property owners, those who rent their home or condo for a few months each year, will face increased competition as more rental units come on the market in upcoming months.

Why the increase in inventory? Simple, it’s because so many units sit unsold. Faced with making continued mortgage payments on their units, owners are deciding to rent the propertys, just for the cash flow.

What do you need for your unit to be more rent-able than the competition?

Most prospective renters look for the amenities. Swimming pools, video games, pool tables and big-screen televisions make for an attractive rental unit. Since eating out can break a vacationer’s budget, adding restaurant quality cooking appliances, equipment, swank dining furnishings, cozy decor and adequate lighting can make for quite an eating-in experience. (more…)

search for : vacation rental property

With all the talk from the automotive industry about energy savings, homeowners are beginning to consider a switch from incandescents to compact fluorescent bulbs. These energy-efficient bulbs have come a long way since they were introduced some years back. But, misconceptions about their usage, and their energy saving attributes remain in the minds of consumers.

We consumers are bombarded with statistics that seem too good to be true. Advertisements tout that if every homeowner were to replace light bulbs in five fixtures with energy-efficient bulbs, greenhouse-gas emissions would be reduced by the equivalent of taking 10 million cars off the road.

So, what are the truths among the media hype? Read on … (more…)

search for : compact fluorescent bulbs

$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

click here for more information

search for : Valle Crucis, NC, Blowing Rock, NC, Blue Ridge Mountains

Vinyl siding as an alternative to regular paintings has been available for years. Some homeowners eschewed the product as looking just too — phony. However, modern science and better manufacturing techniques can now produce vinyl products that, from a foot away, look just like painted wood.

Historically, vinyl building products have not been supplied in deep dark colors because they tended to fade and change color. Recently, Altuglas International the makers of Solarkote and Plexiglas has introduced products to alleviate that problem.

Solarkote has being introduced as a way to easily add dark, rich colors to the look of a home and yard without heavy household burdens. According to the manufacturers, Solarakote acrylic capstock is applied to a vinyl building product in the manufacturing stage. The protective layer of acrylic won’t peel off as paint does and it significantly reduces fading or yellowing of building product materials. (more…)

search for : Vinyl siding, vinyl building products

One of the major challenges when building or remodeling is to find a good contractor. Luckily, with the downturn in the real estate market, builders are no longer concentrating on construction of “spec” homes — those properties built just to sell upon completion.

It’s our opinion that the best method of finding a contractor is through a referral. Friends and co-workers have either built or remodeled, or know someone who has. You might be surprised, if you just ask, how many opinions, both good and bad, that folks have when discussing their experiences with contractors.

You will also find that sub-contractors, those trades that deal in new and remodeled projects for electrical, plumbing, flooring, etc. will be on the minds of many consumers. Stories abound about projects where the “subs” made for a good or terrible project. (more…)

search for : find a good contractor, remodeled project

Homeowners, particularly those with growing families are sometimes in a quandary. Should they sell and buy a larger residence or add-on to their present home. In this era of depressed real estate prices, along with declining home values, remodeling may just make more sense, and even save them money.

To help you make that decision, consider the following. Are you happy with the location of your home, your neighborhood and your home’s general layout, style and size? And, consider if the real estate market in your neighborhood will support your remodeling plans. Remember, it’s never a good idea to have a house whose value is a multiple of the other houses in your community. (more…)

search for : depressed real estate prices, declining home values, remodeling

Real estate marketing has experienced pronounced changes in recent years. The age of YouTube is upon us. YouTube, and other online video-centric services means that anyone can upload a video to market a home to anyone else using these free Internet services.

It’s so easy that over one in five (22 percent) American adults shoots their own videos and 14 percent post them online. Citizen journalism is now citizen advertising. If you can operate a cell phone, you can be theMartin Scorcese of home listings. (more…)

search for : YouTube

Many new homeowners, particularly those that purchase modular or mobile homes, develop some form of respiratory distress. Often, those individuals attribute the affliction to “allergies”, a common term used to describe a number of medically-related symptoms.

However, manufactured homes, especially ones built to Super Good Cents (SGC) standards, tend to be very “tight”. When they are first inhabited the indoor air quality can may be less than optimal.

For that reason, SGC homes most always have some sort of passive or active ventilation built into them to provide for a constant low-volume flow of fresh air. If the ventilation system for the home is blocked, inactive or not working for any other reason, then individuals experience higher than normal indoor pollutants, commonly called “out-gassing”. (more…)

search for : mobile home, respiratory distress, Super Good Cents

This article chronicles how Cleveland is suing banks.

The city is claiming that their subprime lending practices created a public nuisance that hurt property values and city tax collections.

The lawsuit seeks to recover hundreds of millions of dollars in damages, including lost taxes from devalued property and money spent demolishing and boarding up thousands of abandoned houses.

Will this happen in local venues? Could be, let’s wait and see. (more…)

search for : subprime lending practice

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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Knowledgeable home shoppers are discovering interactive sites and blogs for neighborhood scoop that’s long been the province only of brokers and neighbors. Says Jonathan Butler, founder of the Brooklyn-based blog Brownstoner, “it’s all about trapsparency”.

Maybe the best known, Zillow.com, has shot to the forefront of sites where would-be buyers now have a new tool for getting the dish on the neighborhood. Almost 80% of home buyers already use the Internet extensively during their search. But a growing number now want to move beyond basic listings and school-district info to tap into the insider “skinny” on quality-of-life issues. Tips like a recent Brownstoner post pointed out that a seemingly charming old church near one listing becomes a headache every Sunday when triple-parking parishioners block the streets. (more…)

search for : home shoppers, Brownstoner

Having trouble selling your home? Have you recently lowered the asking price? Are you at your wit’s end?

When it comes to selling your house, you might consider paying attention to what accouterments prospective purchasers are seeking. Some styles can be put down to the vagaries of fashion and are easily fixed. Maybe simply spending a little on decorating will make the difference in a quick sale, or your home sitting on the market for a few more months.

MSNBC has compiled a list of eight reasons that just might be why your home isn’t selling. They are worth a look. (more…)

search for : trouble selling your home

What was simply a workplace feature in years past, the once ordinary kitchen countertop has become a major architectural item in interior design. There are lots of options on the market for kitchen countertops. In fact, the number of options can be daunting for the average consumer.

It really boils down to your personal sense of aesthetics, budget and your tolerance for stains. Whether it be economical Formica, granite, a synthetic surface or even concrete, choosing a countertop material is made easier with a discussion of the pros and cons of each surface. (more…)

search for : kitchen countertop, countertop material

For those of you that have been waiting for some time to sell your home in a less-than-perfect market, a recent report issued by the National Association of Realtors might indicate some encouragement. But before getting too carried away with the idea that now is the right time sell, step back and assess the overall strength of the current home-sale market in your area.

Residential real estate is an intensely localized business. A good place to start your investigation is your own neighborhood. How many houses are there like yours on the market? How long have they been on the market? Have there been price reductions? Were there any listings that didn’t receive offers during the listing period? (more…)

search for : sell your home, Residential real estate

President Bush is now saying that he will push Congress this year to act quickly on his proposals to help beleaguered mortgage holders. Some of the proposals are designed to have an immediate impact, such as efforts to make the refinancing of subprime loans easier and more affordable. Other proposals would make it easier for all homebuyers to get financing.

As a consideration to those consumers that will seek new financing in 2008, the President is backing proposal that focuses on putting an end to abusive lending. To date, White House efforts implemented include a rate-freeze plan for some subprime borrowers and tax relief on breaks that homeowners get from lenders during the process of foreclosure. (more…)

search for : refinancing of subprime loan, abusive lending, foreclosure

A good lighting system goes a long way to enhance your theater room experience. First, the system must provide light so that people can safely move around the room. Then, you should arrange the light sources so that they don’t cast any glare or light on the image, which would wash out the picture.

Ambient light is a soft, general illumination that allows people to feel welcomed into a space and the best ambient light really comes from light bounced off the ceiling. Good choices include fixtures recessed in coves around the perimeter of a ceiling (more…)

search for : theater room

Before planning any remodeling project understand that generally homeowners aren’t recouping as many improvement costs as they could in recent years. Depending on your local housing marketplace, experts may ormay not advise that a major up fit to your property will pay for itself come time to sell.

In fact, the simpler, and less expensive projects may give you the edge over other properties on the market. Concepts like spaciousness and cleanliness go along way to convince a buyer that your home has recognizable benefits of ownership over that home down the street.

Merely cleaning the carpets, painting the walls and removing wallpaper are common fixes that costs very little, compared to most remodeling projects. It’s wise to budget for these tasks before putting money aside for more expensive projects. (more…)

search for : remodeling project

Beautiful Wilkes County NC Log Home and Mountain Property.

MLS Number: 50863, List Price: $359,900

Bedrooms: 3, Full Baths: 2, Half Baths: 0, Est Total SqFt: 2600, Type/Style: Log Home, Area: Area 6, Middle School: Cntrl Wlks, High School: Wlks Cntrl, Construction: Log

Foundation: Combination, Roof: Metal Roof, Floors: Carpet/Hardwood/Tile, Garage/Carport: None-Garage, None-Carport, Interior Features: Master Bedroom, Main Level, Large Master Bedroom, Walk-In Closet(s), Hardwood Floors, Fireplace(s), Great Room, Exterior Features: Double Pane Windows, Wooded Lot, 1-5 Acres, Hot Tub, Subdivision: N/A, Lot Size: 2.47, Apx SqFt: 2600 – 2800 SF, Basement: None

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

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Ventless fireplaces and gas fire logs are all the rage these days. However, most home buyers, having limited knowledge of gas fixtures, would have no reason to suspect that a fully approved gas fixture such as this could be problematic or potentially unsafe.

The first indication of a problem with a ventless fireplace is a film on your windows caused by a combustion byproduct. If you can see it, then it stands to reason that is could be unsafe to breathe. Until this can be evaluated by a licensed expert or by the gas company, use of the fixture should be suspended and the gas pilot (if there is one) should be turned off. (more…)

search for : Ventless fireplaces, gas fire logs