According to professional homebuilders, law enforcement officials and insurers, larceny at residential construction sites across the country has increased significantly in the last two years because of soaring prices of building materials like copper, lumber and cement, they said. The National Association of Home Builders, a trade group, estimates that the annual cost of theft to the industry has reached $5 billion. The problem has meant higher material and insurance costs for builders, who pass them along to buyers, sometimes to the tune of tens of thousands of dollars. In the end, that can add as much as 10 percent to the cost of a home, builders and developers said.

A cottage industry of guard services, surveillance devices and private investigators has emerged to prevent theft as well as catch thieves in the act. Larceny is an issue at commercial sites, of course, but residential projects are particular targets because they are often easier to access. The situation is worse in regions where homebuilding remains relatively strong, like in parts of Texas, North Carolina, New York and Louisiana, and remains a problem in states where home construction has slackened, like Florida, Nevada, Michigan and Arizona. (more…)

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

Fannie Mae and Freddie Mac may or may not need a government bailout, but the turmoil surrounding the mortgage finance companies’ decline has already meant four things for borrowers: higher interest rates, more fees and closing costs, bigger down payments and fewer loan choices.

Lenders who must satisfy the requirements of Fannie Mae and Freddie Mac — the dominant buyers of U.S. mortgage debt — are now demanding bank statements, big cash reserves and second appraisals before they approve a loan to refinance a home. (more…)

WEST JEFFERSON NC MOUNTAIN PROPERTY

87.5 +/- Acres Available For Residential Subdivision Mountain Development, 7 miles from West Jefferson, NC

Paved Road and Bridge Built To State Specifications.

Average of $23,000 per acre.

This Property Should Retail For Approximately $50,000 to $60,000 per acre.

ALL PROPERTY HAS LONG RANGE MOUNTAIN VIEWS

Contact Greg Stikeleather, Broker, 704.880.5247

or

email Greg at grstike@charter.net

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The American Housing Rescue and Foreclosure Prevention Act of 2008, passed by Congress at the end of July with hopes of shoring up the ailing housing market, also includes an important tax break. First-time home buyers who purchase a home after April 8, 2008, and before July 1, 2009, are eligible for a $7,500 tax credit (or, if the home costs less than $75,000, a credit equal to 10% of the purchase price).

This credit, however, comes with a catch. You’ll have to pay it back.

Here’s the good part: The credit reduces your tax liability on a dollar-for-dollar basis and can even boost your refund. If you owe $10,000 in taxes, you can take the credit and pay just $2,500. Or if you owe $5,000 in taxes and have paid it over the year, you can take the credit and receive all your money back with an additional $2,500. (more…)

It’s rare to refurbish or add space and recoup the expense from a sale in the short term and even more unlikely now that it’s anyone’s guess when prices will recover, says Gary Smith, Pomona College professor and co-author of “Houseonomics: Why Owning A Home is Still a Great Investment.”

He says spend only when “it’s easier to remodel than sell and buy another house.” Owners who like their neighborhood and know that they won’t find a better house at their price point are ideal remodel candidates, he says.

Tinley Park appraiser T.J. McCarthy agrees, adding that “a very few improvements may give you full value right away” such as installing central air if your house is the only one in the neighborhood without it. (more…)

Vacation property, an investment for retirement or a permanent residence, this Lake James waterfront home may be your dream property.

The beautiful water front home is located in a private community with spectacular views of the Blue Ridge Mountains. It has a double deck boat dock, an enclosed boat garage and a private ramp to launch your own watercraft. The home was built originally in 1972 and totally renovated in 2002. A four car detached garage was built in 2002.

There is a total of 264 ft. of water front. Beautiful three tier sea walls accent this elegant home. Hard wood and tile floors, modern appliances and vaulted ceilings are only a few of the amenities that capture you with this home.

Private dock permit.

List Price: $1,800,000
Flexibility: Willing to finance
Acreage: .75 acres
Type: Waterfront

Floors: 2
Bedrooms: 4
Bathrooms: 4
Sq. Footage: 3700
Garage Size: 4.0
Year Built: 1972, totally renovated in 2002
School District: Nebo

Suitable Use: Residential

Topography: Rolling
Road Frontage: Private Road
Location: Lake James, Burke County, NC

Amenities: Waterfront, Fireplace, Central AC, Alarm, Wood Floors, Gas Range, Patio, Wheelchair Accessible, Nature/Bike Paths, Boating, Controlled Access, Spa/Jacuzzi

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search for : Lake James waterfront home, Blue Ridge Mountains, Lake James, Burke County, NC

A study released Monday by Consumer Reports found 71 percent of sellers who negotiated for lower commissions with their brokers were successful. But only 46 percent of sellers surveyed tried.Those who paid commissions of 3 percent were just as satisfied with their broker’s performance as those who paid 6 percent, the study found.

Those who paid higher commissions were more likely to have regrets about the selling experience. Nearly one-third of them said they should have been more aggressive in negotiating a fee. Sellers were most likely to get lower fees from independent and RE/MAX brokers, said Mark Kotkin, director of survey research at Consumer Reports. (more…)

Laurel Springs is in the high country of beautiful Alleghany County, near the Eastern Continental Divide and between the towns of Jefferson and Sparta on Highway 18 near the Blue Ridge Parkway,

At over 3,000 feet elevation, this community is famous for it’s abundance of North Carolina Christmas Tree farms. Laurel Springs is a vacation and retirement paradise with motorcycle riding, hiking, canoeing, fishing, swimming, mountain biking, horseback riding, skiing, golf and much more.

With both the the New River and Mt. Jefferson State Parks nearby, visitors to Laurel Springs come to experience cool summer breezes, spectacular mountain scenery and outdoor recreation.

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

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Mortgage scammers took advantage of loopholes in New York State lending laws to defraud homeowners and lending institutions all over the state, according to a new report released Thursday.

The New York State Commission of Investigations reported that the state’s mortgage borrowers need more regulatory protection from predatory lenders. It also linked subprime loans closely to New York’s growing foreclosure problem; in 2007, 59% of all foreclosures statewide involved subprime loans. (more…)

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