Your credit score is just three numbers but it dictates whether you’ll get credit, and what you’ll pay. Insurers use it to set premiums. Landlords use it to make renting decisions. You need to understand it.

Many consumers assume that paying bills on time automatically means having a high credit score. Unfortunately, that’s not always the case. There are many misperceptions about how scores are calculated. Yours could be lower or even higher than you might expect the score to be.

There are many credit scoring systems available to lenders, but FICO scores are by far the most commonly used. The system was developed by the Fair Isaac Corporation back in the 1960s. Technically, you have three different FICO scores — one for each of the three major credit reporting agencies. (more…)

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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

click here for more information

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

Recent research by the National Association of Realtors found that investors in single family rental homes accounted for more than one out of five of all home purchases last year. That’s down from the 28 percent record set at the height of the boom in 2005, but it’s still a surprisingly large chunk of the total market. Roughly 1.35 million units changed hands last year, primarily aimed at the surging rental sector.

Unlike 2005, speculators are not pushing up pricing and looking to flip their properties quickly. The median price for an investor unit was $150,000 last year, down from $183,500 in 2005.

About half of the investors said they expected to hold onto their properties for anywhere from three to 11 years. Another 18 percent said their holding period probably would run from one to three years, and 20 percent weren’t sure. But only 10 percent said they planned to sell in less than a year. (more…)

Recently, the National Association of Realtors reported that 12 percent of all existing home sales last year were not primary residences — instead the sales were vacation homes, condos and secondary residences. Why, given that almost 1.3 million homes were lost to foreclosure last year, is the secondary home market still thriving?

It seems clear to this author that another group of households is doing very well. Not only can homeowners in the group support one house, they can afford at least two. The implied reservoir of wealth represented by vacation property owners is important because it means there are large numbers of people out there with dollars that can be used to move the economy back to previous levels of home ownership.

Among that group of individuals, primary residential and vacation home sales will continue to thrive. That’s good news for our beleaguered real estate industry. (more…)

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