The Waterfront News

Seller Secrets

2011-12-21T21:49:00.002-05:00

This Month in Real Estate - December 2011

2011-12-07T19:16:00.001-05:00

Google Business: Introducing the +1 Button

2011-12-07T19:13:00.000-05:00

This Month in Real Estate - November 2011

2011-11-19T21:50:00.001-05:00

Quantum Levitation

2011-10-18T13:20:00.001-04:00

Simple building. Stonehenge Reloaded by only one man!!

2011-10-13T22:26:00.003-04:00

The Sink Monster

2011-10-08T13:20:00.012-04:00

So the garbage disposal quits working after 19 years. I reset the little red button, manually turn the motor this way and that several times, motor makes a humming noise but will not turn on its own. I check it every day for a week or so while we are careful not to allow any foodstuff to get into the basket. Ordering a new one to be delivered will take 2 weeks.

I check it again before driving the 60 miles round trip to buy a new one, she does not work. I buy a new disposal, bring it home, and it sits for 10 days while I clear up the paperwork I have in progress. During this time, we turn the disposal switch on a couple times each day to see if it will magically begin to operate again. I do not accept any new work so I will have a clear weekend to do the installation. Today is installation day, tools are by my side, the trash can and a hundred other items are cleared from under the sink, time to crawl under and get this job done. I do not relish the thought of having to lay on my bad back over the edge of the sink cabinet. I flip the switch one more time and you know the rest of the story. The old 'Sink Monster' works like a charm.

I believe I'll hang onto the new one for a couple months before returning it, just to be sure. Or perhaps I'll keep it to have on hand for the day when the old one finally gives up for good. Or maybe having one on hand will keep the old one from quitting again.

A Few Minutes Here and There

2011-09-15T17:20:00.025-04:00

It seems my days are spent in classrooms, behind the wheel, or in front of the computer facing a mountain of paperwork. On those computer days, I find that I need to take a break every couple hours to get my eyes away from the screen and compose my thoughts.

During those break times, I enjoy sitting on the back porch watching the critters in my little wildlife habitat. For those who read my post last year about Bluebirds, I did make it back to that little barber shop and purchased two more bluebird houses. Both of the new ones were placed in the front yard where my wife could view any activity. Although these are in close proximity to one another, I figured it would give the birds a choice of where they would like to build their nest.

The bluebirds came back this year and built their nest in the back yard once again. They are very territorial when raising their family, and daddy bluebird refused to allow any other birds to perch within 20 to 25 feet from the nest. When the young leave the nest, usually all are gone within two hours. This year I was fortunate to see one of them as it took its first flight. The little one very nearly hit the ground before it gathered enough strength to fly upward to a nearby branch. Two of the young ones have been visiting occasionally to rest and grab a bite to eat before flying off once again.

Other critters include one squirrel, one young rabbit, a pair of doves and a turtle. The squirrel and rabbit frequently travel around the yard together, eating grass and the sunflower seeds that I throw out for the doves and cardinals. The doves are peaceful birds and get along with all of the others. Since hurricane Irene came through a couple of weeks ago, another pair of doves has taken up residence in the yard. The new pair are very light in color, almost white in comparison to the others.

Probably the oldest resident of the habitat is the turtle. We’ve been watching it grow over the years, but don’t see it very often. I suppose it spends much of its time under the bushes or in one of the flower gardens.

Metropolis II

2011-08-07T09:22:00.005-04:00

Over four years of work on this sculpture which will be on display this fall. This would bring out the boy in any guy who is into trains, race car sets, mechanical devices, etc.

The Ultimate Buyer's Market

2011-05-05T11:19:00.008-04:00

"Years from now, when our clients look back on the current market, some of them will be thoroughly grateful that they were astute enough to act on the ultimate buyer's market. Others will look back and say, 'if only'". - Mark Willis

The current opportunities for home buyers are better than you've ever imagined!

Contact me today if you or anyone you know would like an overview of our local housing market. Visit my website at www.JoeBrant.com or send an email to Joe@JoeBrant.com

10 Common Errors Home Owners Make When Filing Taxes

2011-02-17T10:43:00.001-05:00

(New!)
10 Common Errors Home Owners Make When Filing Taxes
Don’t rouse the IRS or pay more taxes than necessary—know the score on each home tax deduction and credit. Read

Visit houselogic.com for more articles like this.

“If you don’t own a home – buy one”

2010-11-10T07:41:00.006-05:00

Nov 7 - Why Buy Now on Forbes.com

Multibillionaire hedge fund operator John Paulson talks bonds, stocks and the value in buying now.

In an article on Forbes' blog, columnist Robert Lenzer reported on a recent appearance made by multibillionaire hedge fund operator and investment genius, John Paulson. Speaking to a packed crowd at New York's University Club, Paulson addressed today's economic landscape and touched on inflation, the bond market, equities and gold, and made several predictions about the next two years. [Read the full story here].

He also made final parting remarks on the state of the housing market. Noting that this is the best time in 50 years to buy a home, Paulson advised those listening to issue 30 year mortgages to buy a home as "your debt and interest payments get locked in at record lows, while the price of your home will rise".

"If you don't own a home buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home".

Home is Where the Heart is

2010-11-01T08:41:00.004-04:00

Home is Where the Heart is (click to read article by Mo Anderson)

July home prices flat, but majority of states see declines

2010-09-18T16:52:00.005-04:00

July home prices were unchanged from last year, the first time since February that prices have not increased from 2009, according to the CoreLogic Home Price Index (HPI).

While national home prices were unchanged after a 2.4% gain in June, prices on the state level are starting to spread. Read the entire article.

Real Estate Outlook Promising

2010-09-07T18:26:00.004-04:00

According to national syndicated columnist, Ken Harney, after a few weeks in August, where the economic and housing outlooks have been a little sobering, the numbers at the beginning of September are looking increasingly positive.

The latest Commerce Department study finds that consumer spending is on the upswing, and just registered the biggest upswing in four months.

On the housing front, there are even more encouraging numbers:

1. Pending home sales, which had been sliding since the phase out of the tax credits last spring, rose by 5.2 percent according to the National Association of Realtors.

2. Standard and Poors/Case-Shiller index reported home prices in the top 20 metropolitan areas gained 4.2 percent over last year.

As long as rates remain in the mid four percent range -- the Federal Reserve Chairman says he's committed to keeping them low. Housing should look increasingly attractive to first-home buyers and move up buyers, who find they can now afford much more house than they might have imagined.

Dianne Dunn

First Time Homebuyers

2010-09-07T11:02:00.002-04:00

Market Facts in Uncertain Times

2010-09-03T11:02:00.001-04:00

Market Facts in Uncertain Times

View more presentations from NAR Research.

Hurricane Earl

2010-09-02T10:42:00.003-04:00

With Hurricane Earl approaching, I hope everyone has taken care of securing their property. I believe we have done all we can do at this point. Everything from doormats to garbage cans to potted plants and bird feeders have been placed indoors or out of harm's way. Cars are on high ground and enclosed where possible. The sails are removed from the boat, its drains have been cleared of debris, and the docklines are secure.

Our generator is in place, along with plenty of fuel and several long extension cords. It has been tested and is working beautifully. If the power should go out we can keep the refrigerator operating, along with lights, tv, etc.

My wife is accoustomed to our having a well and electric well pump, and asked me to fill up our water jugs "just in case" (even though we are on city water now). So I filled up the three 5 gal. jugs we carry on the boat without question.

The wind is beginning to pick up, and a large piece of cardboard is already being blown across a neighbor's yard. The rain is expected to begin early this afternoon.

Be safe, hurricanes are serious storms and can change direction quickly despite what the weather experts predict.

Why Some Houses Sit While Other Houses Sell

2010-08-30T08:09:00.002-04:00

Camellia Propagation

2010-08-28T22:18:00.005-04:00

This photo of my little pink camellia was taken about 2 1/2 years ago. At that time it was quite small, but filled with flowers. Since that time, this scraggly little bush has grown into a beautifully shaped specimen a little over 4 feet tall. The leaves are smaller than the other, salmon-colored camellia we have, and the flowers are more compact with more petals.

Although I have done a considerable amount of searching, I have not been able to determine which variety it is. I really like it a lot, and would like to have several more to plant in various areas of the yard. Our salmon camellia is much older and bears seed pods each year, but this one has not had seeds that I have seen.

While checking the internet, I located the American Camellia Society which had instructions for propagation by cuttings. After gathering the needed supplies, today I trimmed the plant and potted 18 cuttings. After working for several hours in the heat of the day, I have gained a new appreciation for those who work in the nursery business. Anyway, there are a bunch of potted cuttings now on my porch and hopefully some of them will sprout roots. We should know within a couple months. Those that root will then be planted in larger pots and prepared for the winter months.

Wish me luck! I've never been much of a gardner and will need all the luck I can get.

Pecans

2010-05-05T20:06:00.007-04:00

You don't have to ask me twice if I like pecans. The answer isn't yes, it's YES! I like them plain, candied, in waffles, cookies, cakes, ice cream, candy, and those fabulous pecan pies.

Back in December my mouth began watering for some Butter Tarts, when I found we had run out of pecans. It was late in the year and there were not any nuts left in the places where I usually gather them. However, I was fortunate enough to locate a tree that had been left untended by both humans and squirrels. But, were the nuts still good after being on the ground for so long? After spending a couple afternoons gathering them I was anxious to find out.

It is said that pecans will keep in the shell for about 3 months, and these were still good. After they are shelled, they will go rancid rather quickly unless they are refrigerated or frozen. If there is another way to preserve them, I would appreciate information on how to do that.

Oh yes! The Butter Tarts were delicious.

1st Quarter Market Statistics - Oriental and New Bern

2010-04-26T10:06:00.010-04:00

The 1st Quarter Market Statistics for both Homes and Lots in Oriental and Pamlico County are now available on my website. Market Statistics for the New Bern area can also be found there. Visit http://www.joebrant.com/.

Should you have difficulty reading the numbers from the web page, or if you would like the statistics to be emailed to you each quarter, send your request to OrientalStats@JoeBrant.com or NewBernStats@JoeBrant.com.

♪♫♪ Zip-A-Dee-Do-Dah ♫♫ Zipadee-Ay ♪♫♪♫

2010-04-14T18:37:00.014-04:00

Nearly five years ago, I purchased three small houses. This was apparently near the peak of the housing bubble as they seemed to be rather excessively priced. I bought them anyway and attributed their cost to being supposedly perfect for bluebirds. To my knowledge, they have never been touched by their intended inhabitants.

Last fall I happened to get my hair cut in a tiny town near Greensboro. There were a few small birdhouses on a table in the shop. They were made of rather thick cedar and appeared to be too small for a little chickadee. I decided to get one anyway and told the barber about my so-called bluebird houses. As I handed him the money for the little birdhouse he said, “Those were made for bluebirds”. A likely story, I thought.

A few weeks ago I thought I spied a chickadee looking through the door of the new little house. No problem, I like chickadees too. Then about a week later Mr. and Mrs. Bluebird started moving in and it appears they are here to stay. Please excuse my excitement, but this is the first time I have had any bluebirds build their nest in my yard. Unfortunately they have been very camera shy so far. If I ever get back to that town I will be buying more birdhouses whether I need a haircut or not.

Mortgage Rates* - February 1, 2010

2010-02-01T18:41:00.006-05:00

30 Year Fixed - Primary (Min 5% Down) - 4.875% - 0.875 pt.
30 Year Fixed - 2nd Home (Min 20% Down) - 5.125% - 0 pt.

30 Year Fixed Jumbo Loans - 5.625% - 1 pt.
30 Year Fixed Jumbo Loans - 5.875% - 0 pt.

VA (No Down Payment) - 4.75% - 0.75 pt.
VA (No Down Payment) - 4.875% - 0 pt.

FHA (Min 3.5% Down Payment) - 4.75% - 0.5 pt.
FHA (Min 3.5% Down Payment) - 4.875% - 0 pt.

15 Year Fixed (Min 5% Down) - 4.25% - 0.875 pt.
15 Year Fixed (Min 5% Down) - 4.375% - 0 pt.

* Some restrictions apply, rates are subject to change without notice. Pricing may vary for loans below $100,000.

Rate quotes provided by Bank of America.

HouseLogic

2009-12-05T19:32:00.005-05:00

The National Association of Realtors® is in the process of releasing an incredible website resource for homeowners. While the full edition is not expected to be rolled out until February 2010, the Beta edition is quite valuable in itself.

HouseLogic is a free source of information and tools that can help you make smart and timely decisions about your home.

With content covering home improvement, maintenance, taxes, finance, insurance, and even ways you can get involved in and enrich your community, HouseLogic can help you increase and protect the value of your home by helping you make confident decisions.

See it for yourself at www.HouseLogic.com

Toys for Pamlico Kids

2009-11-28T13:11:00.006-05:00

6th Annual

Toys for Pamlico Kids

November 16th - December 11th

Toys for Pamlico Kids holiday drive distributes toys to deserving boys and girls in Pamlico County. Unwrapped educational games as well as toys that reflect the diversity of our community for newborn children to 18 years of age can be dropped off at the following locations:

Department of Social Services - Alliance
Arapahoe Charter School - Arapahoe
Sea Gull and Seafarer - Arapahoe
Heartworks - Bayboro
Pamlico County Public Library - Bayboro
Tideland EMC - Grantsboro
The Piggly Wiggly - Grantsboro
First South Bank - Grantsboro
The Pamlico News - Oriental
Inland Waterway Provision Company - Oriental
Mesic Town Hall (Tues/Thurs – 4-5:30 pm • Nov. 2nd and Dec. 1st – 6:30-8 pm) - Mesic

To make a Monetary Donation, please mail your Non tax-deductible donation to the Pamlico County Chamber of Commerce, Attn: Toys for Pamlico Kids, P.O. Box 92, Grantsboro, NC 28529. Your monetary donations will be translated directly into toy purchases.

To Sign Up a Child in Need, please contact Joyce Swimm at the Pamlico County Chamber of Commerce at 745-3008 or Debbie Green, Pamlico County DSS* at 745-4086. *Please note that you do not need to be a part of the DSS system to qualify.

Toys for Pamlico Kids is sponsored by the Pamlico County Chamber of Commerce

Angel Food in New Bern NC

2009-11-25T21:48:00.007-05:00

Last week I was invited to share a meal with a young family of four. We enjoyed a wonderful dinner with salad, vegetables and the best pork chops I have tasted in many years.

The husband had recently found work again after being a victim of “downsizing” and was out of work for over a year. The wife has been working reduced hours, nearly half what she used to work. It goes without saying that their funds are in short supply, and they are doing the best they can.

I found out later that they have been purchasing much of their food from an organization called Angel Food Ministries. I had not heard of it before, so I looked it up on the internet. This group sells boxes of food in various assortments, priced to compare favorably over purchasing at grocery stores. The Signature Box is sized to feed a family of four for one week. It contains an average of $60 in food and is priced at $30. See the December Menu.

Current economic conditions have made things difficult for people of all income levels and Angel Food packages are available to everyone, without discrimination. You can find out more about Angel Food Ministries, and perhaps place an order here.

If you should know of a family who would benefit from this program, I hope you will share the information with them.

New Bern Colonial Capitol Tour

2009-11-04T20:44:00.005-05:00

Marvin, a fellow agent, and I both live and work primarily in the Oriental NC area, but frequently assist clients in other areas also. Since our company office is located in New Bern, we have an interest in keeping informed about the history surrounding that area. Tours are not all the same and we learn about different things with each tour taken. Most of these tours are walking or riding in a bus or trolley. Recently, we took the New Bern Colonial Capitol tour, which uses the Segway People Movers for transportation.

The Segway is one of the neatest machines I have ever seen. After a brief instruction session, we were outfitted with helmets and a receiver to better hear about the various buildings and sites, then we were on our way. Never having been aboard a Segway before was no problem, they are very easy to use. You must be careful not to rub up against a curb or another rider's wheel, and be attentive when riding on a slanted surface.

I won't go into the history that we learned, but can tell you that we learned quite a lot and had a great time. If you happen to find yourself in New Bern with a couple free hours on your hands, this tour is highly recommended. Contact Neal Davis at: http://www.tarheeladventures.com/. Tickets must be purchased in advance.

How is the Real Estate market in Pamlico County?

2009-10-30T12:34:00.005-04:00

I am asked this question a lot by those who may be considering placing their home up for sale. The picture is not as pretty as we might like, but perhaps it will help you understand what is, and has been happening. The graph shown is for homes only, lots and commercial properties are not included. This graph shows the number of homes sold in Pamlico County each quarter since January 1, 2008.

As you can see, during the past year there have been a total of 67 homes sold in all of Pamlico County, or an average of about 5.58 homes sold per month. Currently there are 213 homes actively listed for sale in the area.

When there is a 6 month supply of homes, it is considered to be a normal, balanced market. Less than a 6 month supply is a Sellers’ market, and more than a 6 month supply is a Buyers’ market.
Using the figures above, you will see that Pamlico County has more than a 38 month supply of homes on the market at the present time. This puts us very deeply into a buyers’ market, meaning that there are more homes available than there are buyers to absorb the excess in a timely manner.

Having such a large supply of homes is an indication that prices for many of the homes are too high. If you are thinking of purchasing a home in the area, be sure to select an agent who will prepare a current Comparative Market Analysis for you on any home you select.

Yes, homes are being sold and buyers are naturally picking the best values for their dollars. This means that any home being placed on the market should be immaculately clean, in good repair, and priced about 5% below its current market value. Otherwise, that home could be on the market for a very long time.

If you should have any questions, please feel free to contact me by e-mail at: Joe@JoeBrant.com.

Joe Brant, ABR, GRI, e-PRO
Keller Williams Realty
http://www.joebrant.com/
(252) 675-3038

Important Halloween Precautions

2009-10-21T22:10:00.004-04:00

With Halloween approaching rapidly, adults should take precautions to ensure that their children will have a safe, enjoyable evening when they go out trick or treating.

For starters, parents should make sure children wear well–fitted clothing and shoes that make it easy for them to move around without stumbling. Try on costumes before Halloween. Ask your child to walk around the house a bit. That way you can fix anything that might cause a fall or is constrictive. Make sure accessories, such as swords, are made of soft or flexible material.

Young children should be encouraged to use makeup rather than masks because masks can obstruct vision, especially in the dark. Children should also carry flashlights, and wear light–colored costumes decorated with reflective tape that can easily been seen by drivers. Adults should remember to take extra precautions when driving on Halloween night because children will be everywhere.

It's best to have at least one adult accompany each group of children. If children are old enough to be out on their own, parents should know the approximate "path" they plan to take, and all children should have a specific time limit for when they are to return home (a portal alarm clock can be carried as a reminder). Instruct children to be selective regarding the homes they visit – only those with lights on, preferably in neighborhoods they know.

Children should never trick or treat alone and should not enter any home, unless it is the home of a friend.

Children should be especially wary of cars, remembering to avoid running across streets and checking driveways for cars backing out. They should be instructed to cross only at corners, and never between parked cars or mid–block.

Instruct children to stay clear of cats and dogs while in costume. A strange costume can make even the tamest dog aggressive.

Emphasize that all goodies need to be brought home for inspection before eating. Explain why this is important to children. Only eat treats in original, unopened wrappers. Throw away candy if wrappers are faded, have holes or tears, or if the candy has been unwrapped.

Check fruit and homemade treats for punctures or contamination. Allow your child to eat such items only if from someone you know and trust. Fruit should be cut into sections to check for sharp objects. Feed the kids before trick or treating and they'll be less tempted to eat from their bag.

If you suspect a potential poisoning, contact the poison center immediately at 1–800–222–1222

Children get very excited in anticipation of Halloween.

These simple precautions will keep the day safe and fun for all.

Interest rate drop fuels demand

2009-10-11T22:25:00.003-04:00

According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent last week. “Such low rates are spurring mortgage demand,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.

"Interest rates for 30-year fixed-rate loans were the lowest since mid-May; 15-year FRMs were at a record low since data were first collected in 1991 and 5-year ARMs also hit an all-time record starting in 2005. Compared to a year ago, consumers could shave almost $134 off their monthly mortgage payments on a 30-year fixed-rate loan for $200,000 by refinancing.

In addition to spurring mortgage demand, applications were up to a 19-week high over the week ending in Oct. 2, according to the Mortgage Bankers Association – applications to purchase a home were at the strongest pace since the beginning of 2009.

Tower Crane Assembly with Climber Demo

2009-09-12T17:19:00.005-04:00

Did you ever wonder how the cranes that build skyscrapers get built and dismantled? Well it has always been a puzzle to me.

Thanks go to Adam Savage for sending the link to this video. Now I know, but I don't want to be up there operating the machinery. You may want to mute the sound while you watch.

6 Reasons Why Your House Won't Sell.

2009-08-20T11:37:00.013-04:00

Your photos are unimpressive. The vast majority of home buyers start their search for a home on the Internet, your house had better look great in print. Not just nice... downright fabulous. Today we are considering internet views as a 'virtual showing'... if your house gets past that, then they might (just might) make an appointment to see it in person... We consider that your SECOND showing. Today's buyers are expecting good quality photos (and lots of them... just 1 shot from the street won't cut it!), a virtual tour, maybe even a floor plan, if applicable.
It's overpriced. You've got to view your own property as objectively as possible. Look at the home like a "buyer"... if necessary, go out with your Realtor and view other homes that are priced comparably to yours. Be objective. Given the other options on the market (and yes, you DO have to include short sales and foreclosures on your list... your potential buyers are!), would YOU buy your home, over the others on the market?

If no, then you either have to "update" your home to meet or beat the competition... or lower your price to adjust for it. If you can't afford to sell for the price, that you KNOW it will sell for, you may want to consider just removing it from the market.
It shows poorly. This could mean almost anything... from the barky, barky dog, to the smell of the diaper pail. Maybe the carpeting is a bit worn, or the woodwork shows a lot of wear. All things that don't show up on the internet, but whoa.... once you get inside the house... they show up, like a cat-urine-smell on a 95 degree day in New Orleans!
You're invisible. Today's buyer comes from the internet, almost exclusively. Have you (or your agent) simply plopped the property on the MLS, and started praying? Are you on all the websites...(Trulia, Zillow, Craig's List, Google Base, etc...) all the places that buyers are searching? If not, you want to be.
Your listing is tired and stale on the market. Okay... yes, you overpriced your home initially when you first came on the market 2 years ago. But since then you have reduced your price almost monthly... constantly chasing the market down.... Now, finally you're truly priced where you should be... but your listing is tired and stale. Everyone looking for your type of property (ie: 3br/1.1 bath) in your area has already seen it, sometimes twice... and they remember that there was "something" about it that they didn't like... but what they don't remember is... what they didn't like.... was the price. Time to take the listing off market. Let it cool off (3-6 months), and bring it back on fresh in the Spring. Yeah, you'll have 6 mos. worth of holding-costs... but you'll more than make up for it in your purchase price.

btw... Avoid the temptation to bring the house back on at a higher price than when you left the market. Just "don't do it"!
Your house won't appraise. The house looks great... you've finally gotten someone to bring you a bid on your slightly over-priced, but beautiful pied-a-terre. But the bank appraiser says it's worth $20,000 less than what they've agreed to pay. Heavy sigh... bite the bullet.... negotiate with them. If you have to drop the price $20,000 to make it work.... "make it work"... chances are, anybody else trying to buy your house will run into the same problem.

written by Alan May

Social Media security - What to do to protect your account

2009-08-17T20:18:00.005-04:00

With all of the talk about Twitter’s melt-down and wave of account suspensions, social networkers are worried about viruses and phishing scams more than ever. In fact, according to Fortinet, a firewall systems provider, June 2009 had the “highest rate of phishing attacks to date” on the Web. So, what should you avoid and how can you secure your account? Learn more.

“Phishing” is when a fraudulent operation poses as a legitimate Website or service in order to steal your personal information. They can appear to be a legitimate Website or even a partner with your social network (Facebook quizzes for example), but you need to be aware before offering your password to any sites. Use the following tips to stay safe in the world of Web 2.0.

Security Tips for Twitter:

Just because you get a Direct Message (or DM) saying “Check out this cool website” doesn’t mean you should. Twitter recently alerted its users that they had uncovered a phishing scam, where a link to a fake Twitter login page was sent through the direct message feature. The purpose of the scam was to steal user login and passwords.
Be wary of sites outside of Twitter that ask for your Twitter username and password. Although we all want to know our Twitter “rank” or might want to take a Twitter quiz, recently many people have had their accounts compromised by these sites.

Security Tips for Facebook:

Be aware of generic posts or messages similar to this: “Hey, did you read what this blog says about you? I think you should read it.” Or, “I saw your profile picture on this website, you look great! Check it out.” Each of these sample messages also included a link with a virus. Don’t click!
Remember that third-party applications and quizzes are just that, third party. Most were not created by Facebook. Always read the fine print before adding them to your page or profile.

General Security Tips:

Use a different password for each site you use. This will save you a lot of trouble if one of your accounts is compromised.
When a link takes you to sign-in on a familiar site, always look at the URL to make sure that the site is legitimate and not a phishing clone. Phishers count on us not to double check links from our trusted friends, sources and sites.

The Coolest Car on the Planet

2009-07-28T19:39:00.010-04:00

Let's address the two main questions first. Whenever and wherever I go in my little "jeep", everybody loves it, and very few have ever seen one before. So, I frequently get stopped by people (including police officers), who ask me the same two questions:

What is it? and...

Where can I get one?

What it is... is an Austin Mini Moke, the most unusual variant of the old "classic" Mini from the 60's. It is about 4 1/2 feet wide and 10 feet long, has a 4 cylinder 1 liter engine, 4 speed transmission, gets 42 MPG and the book says top speed is 81 MPH.

The Moke was designed in the late 50's, to be a replacement utility vehicle for the British Army. The British Army chose not to purchase Mini Mokes, and a very limited number were produced between 1963 and 1993. They were never "cheap", and still aren't.

Where can you get one? You might find one on eBay, or I can connect you with sources.

Anyway I got my little Mini Moke out of it's garage just before Independence Day, and found that it needed new rear wheel bearings. My parts supplier had them in my hands two days later.

With the new bearings installed, a short test ride followed. Within three miles, I discovered that it was also time to install a new exhaust system. In the photo above, the old exhaust system has been removed and the new one should be installed before the weekend.

If you see me out cruising around Oriental, give me a shout.

Gift Idea for Someone Who Has Everything!

2009-07-20T09:12:00.006-04:00

Among my messages this morning was one from Adam Savage (Mythbusters) informing me about a One Armed Clock! The very idea was so wild that I had to look. This is an awesome piece of artwork.

More information, photos and a short video can be found at: http://bit.ly/acGSp.

History of the Flag

2009-07-04T08:54:00.003-04:00

While Americans recognize and celebrate collective achievements such as the writing of the Declaration of Independence, victory in the Revolutionary War, or the landing of a man on the Moon — it is individual accomplishment that is cherished the most. The "stars" of the aforementioned events — Thomas Jefferson, George Washington, and Neil Armstrong — outshine the collective constellation. One person's contribution can define the course and meaning of history.

When we view the flag, we think of liberty, freedom, pride, and Betsy Ross. The American flag flies on the moon, sits atop Mount Everest, is hurtling out in space. The flag is how America signs her name.

It is no surprise that Betsy Ross has become one of the most cherished figures of American History.

Find out more at the Betsy Ross Home Page - http://www.ushistory.org/betsy/

450 Ideas To Help Your Home Sell FASTER!

2009-06-29T11:41:00.010-04:00

...Do You Want To Prepare Your Home For A FAST Sale?
...Do You Want To Receive More Money From A Buyer?
...Do You Want To Gain A Competitive Edge?

The book pictured here, "450 Ideas To Help Your Home Sell FASTER!", contains a wealth of information and suggestions for no-cost or low-cost things you can do to improve your home's value.

I recently acquired distribution rights to this book, and my primary intention was to give a copy to all those sellers I work with who have the time to carry out some cost-effective improvements before placing their home on the market.

I quickly realized that even if you don't plan to sell your home for a while, this is an excellent resource for ideas to make your home more pleasant to live in.

This is no small brochure. There are 52 pages of content covering every room in the home as well as the outside and even the garage.

Also available are two additional books, "Moving With Your Children" and "Moving With Your Pets".

If you would like copies of these books, simply send an e-mail to 450Ideas@JoeBrant.com with your request. Your copies will be promptly e-mailed to you. There is no cost or obligation to you and I hope you will find the books to be useful and interesting.

Croaker Festival 2009

2009-06-14T09:42:00.009-04:00

Oriental's 2009 Croaker Festival begins Friday evening, July 3rd, and continues through Saturday evening July 4th. Highlights are listed below, for additional information, visit the Croaker Festival website at: http://www.croakerfestival.com/index.htm. To register a parade entry, call or visit the Village Hardware store.

Friday, July 3rd

4:00 pm - Music: The Pamlico County Band
5:00 pm - The 27th Annual Croaker Festival Opens at Lou-Mac Park, Featuring the Pamlico Chorale
5:00 pm - Judging for the Baking Contest begins
6:00 pm - Kids Park opens with Putt-Putt golf and Games
6:00 pm - Baking Contest Goodies go on sale
6:00 pm - Minnow Pageant followed by the Croaker Queen Pageant
7:00 pm - All Contest Winners will be announced
8:00 pm - Street Dance featuring The Soul Shakers
9:30 pm - Kids Park closes

Saturday, July 4th

7:30 am - Croaker Relay sign-up
8:30 am - Booths open
9:00 am - Parade Line-Up on Regan Road
10:00 am - Parade Begins
11:30 am - Croaker Festival Regatta registration
11:30 am - Parade Winners announced
11:45 am - Kids Park opens
11:45 am - Music begins on the Stage
2:00 pm - Croaker Festival Regatta - Races Start
6:00 pm - Street Dance (until 9:00 pm)
9:30 pm - Fireworks over the Harbor

Please be very careful driving back to your home or marina. Many children and adults will be walking in and along the streets, and they may be difficult to see at night.

BREAKING NEWS - Pending Home Sales Up for Three Months in a Row

2009-06-02T23:01:00.003-04:00

Very good news. RISMEDIA reported June 2, 2009 that Pending Home Sales are up for the Third Month in a Row. Read the entire Report at: http://bit.ly/143iiU

Hey, first-time homebuyer: How does $8,000 from your Uncle Sam sound?

2009-03-15T18:57:00.007-04:00

Want an extra $8,000? If you’re a first-time homebuyer then we have a nice surprise for you.

Last fall, the Federal Government introduced a financial incentive to prospective first-time homebuyers — an income tax credit of up to $7,500. The rules were simple: you must have been a first-time homebuyer (as defined by not owning a home in the previous three years) and you met certain income restrictions.

The new $8,000 tax credit is available to those who buy between January 1, 2009 and December 1, 2009. It’s not a deduction, it’s an actual credit. Unlike the $7,500 first-time homebuyer tax credit introduced last summer; this does not need to be repaid.

First timers who qualify can make no more than $75,000 in adjusted gross income if they’re single or $150,000 if filing jointly. The maximum tax credit is $8,000 or 10 percent of the sales price of the home, whichever is less. Three years residence in the property are required. As always, check with your accountant for details and be sure to submit IRS form 5405 when you file your taxes.

Written by David Reed, author of Mortgages 101 and Mortgage Confidential.

Happy Spring!

2009-03-07T20:53:00.004-05:00

It is safe to assume that all of you, like me, are ready for the warmth and sunshine that the longer spring days will bring. There is always something very hopeful about this time of year that brings out the best in all of us. Even in the midst of our current recession, we all know we have so much to be thankful for.

And now to the housing market -- What can we expect in 2009? The experts are telling us that it is crucial to our economy that housing sales get back on track in 2009.

Remember, real estate is a local business, so pay attention to your LOCAL real estate experts, not what you see in the national media. Find yourself a professional, well trained Realtor® who is well versed in real estate consulting based on today. The consulting model is built on a very simple principle, that of elevating the role of the real estate professional to one of a true fiduciary, enabling real estate professionals to provide what consumers NEED. In fact, a Realtor’s® sound factual advice should be a GIVEN for the consumer, not an OPTION.

2009 is the year of re-education of the TODAY Realtor. Your real estate consultant should be up on the latest advice about the stimulus package, the latest technology tools for online buyers and sellers, and most important of all, your local statistics!

Hockey great Wayne Gretzky was asked once why he was so great. Interestingly, he did not comment about his speed on the ice, the way he handled the puck, or even how he took his shot. He simply responded: “I go to where the puck is going to be, not where it currently is." (taken from RRAR President John Wood)

This is a good analogy for real estate today. Find a Realtor® for your real estate needs that will help you stay ahead of the market with innovative ideas and marketing techniques. If we keep doing things the same way we always have, we will get the same results. Find a Realtor® who is willing to be honest about what is in your best interest, whatever that might be.

National Consumer Protection Week

2009-03-02T16:17:00.004-05:00

Getting the most for your money, improving your credit, and steering clear of fraud are part of being a good consumer. March 1-7 is National Consumer Protection Week, making it a great time to order a FREE copy of the 2009 Consumer Action Handbook. The handbook provides numerous tips on preventing identity theft, filing complaints, being a smart shopper, and more. For additional consumer resources, visit Consumer Guides and Protection on USA.gov.

Current Interest Rates - February 5, 2009

2009-02-05T19:19:00.005-05:00

30 Year Conventional Fixed - 4.875%, Points - 1.00
30 Year Conventional Fixed - 5.25%, Points - 0

15 Year Conventional Fixed - 4.75%, Points - 1.00
15 Year Conventional Fixed - 5.25%, Points - 0

VA & FHA 30 Year Fixed - 5.00%, Origination - 0.75
VA & FHA 30 Year Fixed - 5.50%, Origination - 0

5/1 ARM Conforming - 4.50%, Origination - 1.00
5/1 ARM Conforming - 4.875%, Origination - 0

Investment Property 30 Year - 80% LTV - 20% Down - 6.75%, Points 1.00
Investment Property 30 Year - 75% LTV - 25% Down - 5.75%, Points 1.00

USDA Rural Housing - 100% NO PMI - 5.00%, Origination - 2

Rates courtesy of Countrywide Home Loans. Rates are subject to change without notice.

This Month in Real Estate: January 2009

2009-01-29T22:58:00.003-05:00

Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the nation. The aim of the consumer-oriented segments is to help combat the "doom and gloom" messages of the national print and television media with real information on real estate.

The Slingshot Man

2009-01-25T08:30:00.004-05:00

This entry has nothing to do with real estate at all, so I recon it falls in the category of "just plain stuff". An interesting story about a man who lives up toward Asheboro and his slingshot.

Current Interest Rates - 1/8/2009

2009-01-08T12:41:00.004-05:00

30 Year Conventional Fixed - 4.50%, Points - 1

30 Year Conventional Fixed - 4.875%, Points - 0

15 Year Conventional Fixed - 4.375%, Points - 0.75

15 Year Conventional Fixed - 4.50%, Points - 0

VA & FHA 30 Year Fixed - 4.75%, Origination - 1

VA & FHA 30 Year Fixed - 5.00%, Origination - 0

5/1 ARM Conforming - 4.25%, Origination - 0.75

5/1 ARM Conforming - 4.50%, Origination - 0

Investment Property 30 Year - 80% LTV - 20% Down - 6.75%, Points 1.5

Investment Property 30 Year - 75% LTV - 25% Down - 5.25%, Points 1

USDA Rural Housing - 100% NO PMI - 4.875%, Origination - 2

This Month in Real Estate: December 2008

2008-12-26T22:21:00.006-05:00

Dave Jenks and Jay Papasan explain and discuss real estate trends, market statistics, and the impact of the economy on home buying and selling.

Christmas Eve 2008

2008-12-24T16:00:00.015-05:00

Things around town are quiet today. I went to New Bern this morning to deliver a copy of a contract to a lender, and found their office was closed. Stopped by our office and found minimal activity. Then headed back to Oriental. While driving down Trent Blvd. I couldn't help noticing something new in town, Marilyn Monroe! Be careful driving near Trent and Eighth, at least until everyone gets used to seeing this statue there. I expect there may be a few "fender benders" as drivers turn their heads at the sight of Marilyn (in this famous pose) standing at the corner.

Made it back to Oriental in time to order a Reuben at the deli. As always, it was delicious. Brantley's is closed today. Scoot's Pizza has been closed for some time as it is being remodeled. I heard Eric was hoping to reopen in time for the Spirit of Christmas celebration, but the work is not quite finished. When it is done, he will reopen as the Broad Street Grill.

The weather is nice, in the upper 60's, and several neighbors have been mowing their lawns.

And I would like to take this opportunity to wish each and every one a very Merry Christmas and a Happy New Year.

Going GREEN

2008-12-17T17:31:00.004-05:00

REALTOR® TV: Learn to "Go Green" with Rocco. Watch builder Rocco Sinisgalli's information-packed video for great advice on making your new or existing home more energy efficient.

Spirit of Christmas in Oriental

2008-12-07T08:41:00.003-05:00

Oriental's Spirit of Christmas Celebration will be held on Friday and Saturday, December 12th and 13th. Many businesses, churches, clubs, volunteer organizations, etc. will be open and providing tasty treats and various types of musical enjoyment. Everything starts about 3:00 Friday afternoon, and the list is much too long to print here. A few of the highlights for Friday are the Christmas Flotilla at 5:30, Lighting of the Christmas Star at 6:30 and the Pamlico Chorale performing at 7:30. On Saturday things will be happening everywhere in town all day. The Christmas Parade begins at 4:00, followed by the lighting of the Luminaries that line the streets.

Masquerade Ball and Silent Auction

2008-12-06T13:19:00.021-05:00

The Masquerade Charity Ball and Silent Auction held on November 22nd by Keller Williams Realty turned out quite well, considering the weather was a bit uncooperative. A good time was had by all and from the event, Habitat for Humanity was presented with a check for $7,511.38.

Housing stats imply its time to buy

2008-12-06T08:32:00.004-05:00

According to a recent report from Global Insight, an economic and financial analysis forecasting firm, current housing statistics indicate that now is the right to time to buy.

They claim that the U.S. housing market as a whole is undervalued by 3.8 percent. Global Insight analyzed 330 metropolitan areas in the United States and found that 241 metro areas experienced price declines in the third quarter of 2008 in comparison to 150 metro areas in the second quarter.

The markets that were hardest hit were in areas that were most overvalued three years ago. This study, a combined effort by HIS Global Insight and National City Corporation represented 78 percent of all existing housing units in the United States.

Low intrest rates and increased affordability make today's market a buyer's dream!

Source: Global Insight (12/03/2008)

This Month in Real Estate: November 2008

2008-11-24T17:03:00.006-05:00

Dave Jenks and Jay Papasan explain and discuss real estate trends, market statistics, and the impact of the economy on home buying and selling.

KW Charity Ball - November 22nd

2008-11-18T10:07:00.006-05:00

Come join us at the KW Masquerade Charity Ball and Silent Auction November 22, 2008. ALL proceeds from this event will benefit Habitat for Humanity.

For more information or to reserve your tickets, please contact your Keller Williams agent or call Keller Williams Realty at (252) 637-2010. You can also email kwfrontdesk@kwnewbern.com. Tickets must be purchased in advance. Due to the nature of this event, children are not permitted. Thank You!

Keller Williams Food Drive 2008

2008-11-18T09:06:00.008-05:00

The New Bern office of Keller Williams Realty held it's annual Food Drive from November 8 - 15. Once again, the generous residents of New Bern came through to assist in filling the empty pantry at the Salvation Army. More donations are welcomed as this particular Holiday Season will be difficult throughout the country. Due to the increasing number of jobless persons as employers downsize, demand is expected to be high.

This Month in Real Estate: October 2008

2008-11-10T13:12:00.006-05:00

Dave Jenks and Jay Papasan explain and discuss real estate trends, market statistics, and the impact of the economy on home buying and selling.

Shifting Market

2008-10-07T07:33:00.007-04:00

Wow, when they called today’s real estate market a "shifting market," they were right on target. It keeps shifting, and shifting, and shifting ... Every time we turn on the news there’s a new development that affects our economy and therefore the ability of buyers to "buy" and the sellers to "sell."

SHIFT, the most recent book by Gary Keller, co-founder and Chairman of Keller Williams Realty Inc., begins with the following paragraph: "The Real Estate Market has shifted drastically and dramatically. Sales volume and the number of transactions have dropped significantly. Inventory has reached an all-time high. Buyers have never been more reluctant. Fear is rampant, anxiety is high, and people are getting out of the business left and right. Sounds familiar? Sure it does. The year was 1979!"

Does it make us feel better to know that this has happened before? What did we learn from it in 1979? Fast forward to 1987 and it happened again. Changing tax laws this time had a disastrous affect again. Well guess what? History repeats itself. Now we are faced with this again, in 2008 but this time there are real differences.

In 1979 mortgage interest rates topped 18 percent. Last week buyers were still getting approved at under 6 percent through local lenders. That is a huge difference! Today’s sellers, with the help of their real estate agents, are becoming realistic with today’s pricing, bringing our market back on track.

The real estate business is "cyclical." An experienced real estate agent and a mortgage broker will understand this and be prepared to give counsel that is in tune with the current market. Remember though, the news you heard last week is "old news," so stay in touch with your local, trusted real estate agent for updates on this ever changing market.

We are participating in seminars, conference calls, webinars, and many other training events to stay on top of the game to better assist you.

Real estate remains your single most valuable asset if handled correctly.

Back again, I think!

2008-08-31T10:49:00.007-04:00

Wow! Talk about being busy! This has been an incredible Summer! From California to New Jersey, from Texas and Florida to Wisconsin, buyers have come in from all areas of the country to find new homes for retirement, investment, and just plain living.

Those who are looking for a home in the areas of New Bern or Oriental should know that we are currently into what is very much a "Buyers' Market". Note that it is not called a "waiters' market" or a "lookers' market", but is a "Buyers' Market". It's a good time to buy because prices are low, inventory is high, and interest rates are quite reasonable.

However, not every home on the market is a good buy. But there is a set of homes that really are, based on their price, their condition, and the motivation of the seller. And those homes are the ones that are selling. I'll take you to see those homes, and you must be ready to act. When a house fits your criteria and it's a best buy, that's when you buy. You cannot expect the price to come down in the future because only the overpriced homes will come down. The ones that are currently priced right are being bought.

There are best buys for price range, location, etc. To view the best buys of the type home and location you are interested in, contact me at joebrant@jbrant.com, giving me a list of the five things you must have for your new residence.

I want to thank David Reed for helping me keep this Blog active with his excellent and timely financial articles. During this mortgage crisis, with many changes in lender's practices and policies, there has been more than a little confusion. David has stayed on top of it all and provided superb, clearly worded articles explaining various aspects of the financial regulations. I hope to continue using his expertise to keep you informed.

Family loans remain a solid down payment option

2008-08-28T22:32:00.006-04:00

The Federal Housing Administration (FHA) recently altered its guidelines as a result of the Economic and Housing Recovery Act of 2008. One significant change was the elimination of the seller-funded down payment assistance program. Often used by builders through non-profit organizations such as Nehemiah and Ameridream, this program enabled the seller of a property (either an individual or a builder) to “donate” an amount equal to the funds needed by a buyer for a down payment on a home when securing FHA financing.

As of Oct. 1 of this year, the FHA will no longer allow seller assisted down payments. Not only that, but the FHA actually increased the down payment requirement from 3 percent to 3.5 percent—a setback for those who want an FHA loan and are already having problems saving enough money to close on a home.

Fortunately, there is another financing option that can bring these folks a little closer to home: family loans. This feature is unique to FHA. And while it‘s not permissible for buyers to borrow the down payment from individuals when securing any other type of mortgage, FHA’s guidelines allow buyers to borrow from family members. But to obtain a family loan, borrowers must keep some specific requirements in mind:

The family member making the loan can be a parent, grandparent, son, daughter, stepson or stepdaughter, or a legally adopted child or foster child.
The term of the loan cannot be less than five years.
The FHA loan and family loan combined cannot be greater than 100 percent of the value of the home.
The scheduled loan payments, if any, must be factored into the buyer’s debt ratios.
Funds cannot be directly or indirectly associated with the seller, or anyone in the transaction who has a financial interest in the sale.

Now let’s combine the family loan with another advantage afforded by the Housing and Recovery Act of 2008: the $7,500 tax credit. If Grandpa is a likely candidate to supply a family loan, then he might want to know how he would get paid back. If the buyers are first timers and qualify for the tax credit, then Grandpa could get repaid come tax time.

Remember that lenders will want to verify the source of all funds to close the transaction, so be prepared to provide a copy of the loan agreement that spells out the terms and verifies that Grandpa has sufficient funds available to make the loan.

Sometimes when a window closes, another one opens. So while the recent Housing Recovery Act of 2008 has put the squeeze on the seller-funded down payment assistance program, a family loan can provide another avenue to closing on a home.

Written by David Reed, author of Mortgages 101 and Mortgage Confidential.

Help has arrived: U.S. Congress comes through with relief

2008-08-17T21:39:00.004-04:00

The Housing and Economic Recovery Act of 2008, the most sweeping housing legislation since the Depression era, was passed by the U.S. Senate and House of Representatives at the end of last month and was signed into law by President Bush. The new law addresses various aspects of the housing downturn, including assistance for homeowners who are behind on their mortgages, federal oversight of Fannie Mae and Freddie Mac, and funding for cities to buy and fix up foreclosed properties. Many of the provisions of the new law go into effect October 1, 2008 but for first-time home buyers who bought, or will buy, their home between April 9th of this year and July 1, 2009, there’s an immediate bonus — a tax credit of up to 10 percent of the sales price, up to $7,500. Note that this is a tax credit, not a tax deduction. A deduction is an item that is subtracted from your annual income before income taxes are calculated. A tax credit is subtracted from the amount of taxes you owe.

“First-time home buyer” is specifically defined in the new law, and includes those who may have owned a home in the past, but not within the last three years. To qualify, be prepared to show your last three years’ worth of income tax returns to prove that you did not pay mortgage interest during that period. There are also income limitations on the tax credit - $3,750 per year if you’re single and $7,500 jointly if you’re married.

By the way, the tax credit isn’t a gift - you have to pay it back. Nevertheless, it provides an initial reprieve, as repayment doesn’t begin until two years after purchase, and is payable over a 15 year period. If you sell the property before the tax credit has been fully repaid, any remaining amounts owed are due to the IRS upon closing.

Applying for the tax credit isn’t mandatory, but for many, it will make home ownership feasible in the coming year — and that’s exactly what the tax credit is intended to accomplish.

Written by David Reed, author of Mortgages 101 and Mortgage Confidential.

A Bad Wrap!

2008-08-11T17:51:00.005-04:00

We’ve all heard the term, “wrap around,” but what exactly does it mean? A wrap around mortgage, or simply a “wrap,” is an agreement where the buyer of a property makes monthly payments to the seller of a property, who then pays the original lender each month. This is perceived as a way of an owner “selling” a property to a buyer without the buyer obtaining conventional financing.

While a wrap can be viewed as a traditional sale, in reality it’s anything but.

All mortgage loans contain a “due on sale” clause. That means if the current owner of the property sells or otherwise transfers ownership then the lender can immediately call the loan in completely. In other words the lender says, “Okay, you sold the property, we want our money.” In the past, the due on sale clause was not as prevalent, but now all mortgage loans contain such language.

So how would the lender ever know? First, if it’s a legal transfer of ownership, the sale would be recorded and therefore become public record. Lenders would receive notice from the companies they employ to monitor such transactions. The lender could also find out following the change of the original owner’s mailing address.

Now say the owner of the property tells you that they could “carry the note” for you if all you did was make monthly payments directly to him or her. If your agreement was to pay $2,000 per month, those funds could then be directly applied to their original mortgage payment.

Many wrap arrangements require a substantial down payment from the buyer along with the agreement to make a mortgage payment above and beyond what the real mortgage payment requires. Wraps are typically made because the buyer, the seller or both are unable to secure financing. While it may appear to be a solution to a tough problem, a wrap around mortgage is inherently problematic (and generally not worth the trouble).

For example, what would happen if the seller was notified by the lender that an illegal transfer of ownership took place and the lender activates the no-sale clause and wants all its money back?

First, the seller would have to immediately refinance the current note, which would be nearly impossible because the property would have been sold. A new lender wouldn’t finance the new deal nor would the buyer, because the lender wouldn’t recognize the new owner.

Second, and perhaps more importantly, what if the buyer indeed made the monthly payments on a regular basis but the owner somehow fell behind and didn’t make the payments to the original lender? The lender would be forced to foreclose on the original owner, meaning that the new buyer would lose the down payment and payments to the original owner!

A wrap around isn’t a “last resort” method of financing, it’s a “no resort.” Violating the terms of a mortgage, having the mortgage called in by the lender and the buyer losing his down payment and presumed equity with no legal ownership rights is a losing proposition for everyone!

Written by David Reed, author of Mortgages 101 and Mortgage Confidential.

Getting a cash gift? Lucky you!

2008-08-04T07:52:00.005-04:00

Getting a gift in the form of cold, hard cash to buy real estate is a wonderful thing. Gift funds are a common way parents help their kids buy a home, but there are certain requirements to follow to ensure the gift transfer goes smoothly.

What exactly is a cash gift? Technically, it is a transfer of funds from one party to another without any expectation of being paid back. This non-repayment factor is a key element because lenders can’t accurately calculate debt ratios if the gift is in fact a loan. How do lenders determine this? The “givers” are required to sign an affidavit stating that the funds being given are a gift with no repayment expectations.

Who can give a gift? Gifts can come from family members (parents, siblings or grandparents), non-profit agencies, local or state agencies, churches, domestic partners and trade unions.

The party that furnishes the gift must show an “ability to give”, which means they have the money available in an account they own. This is documented by providing account statements showing the funds are available. Finally, it must also be documented that the gift funds were transferred from one party to the next and the lucky recipients (and future home buyers) must provide a bank statement showing the gift was received.

While the need for documentation might sound heavy-handed, the truth is lenders need to take every precaution to make sure that the “gift” isn’t a “loan.” So if you know what the lender expects ahead of time, the gift transfer can be seamless. Just remember, financial gifts over a certain limit may have income tax implications, so be sure and consult with an accountant or tax specialist before getting the mortgage process underway.

One final note to consider. Conventional loans differ from FHA programs in their requirements for reporting gifts to be used toward the purchase of a home. Buyers using conventional financing need to prove that they have at least 5 percent of their own funds in the purchase transaction. However, that requirement is waived if the gift represents more than 20 percent of the purchase price. The FHA loan, on the other hand, merely requires the buyers have at least $500 of their own money at closing, regardless of the amount of the gift.

Written by David Reed, Texas-based mortgage banker with more than 20 years experience and author of Mortgages 101 and Mortgage Confidential.

Credit issues? Your lender can help.

2008-07-28T11:09:00.002-04:00

We frequently hear we’re supposed to regularly check our credit reports. And staying on top of this is especially important when starting to shop for a new home. There are three main credit bureaus: Equifax, Experian, and TransUnion. These bureaus store consumer credit histories by the millions, and hundreds of thousands of businesses tap these bureaus for their data about you. Unfortunately, mistakes can happen. Especially if you’re not the only “Bob Johnson” or “Susan Smith” who lives in St. Louis.

Let’s say you receive a copy of your credit report and find a mistake—what do you do? What if there’s an old collection account showing as unpaid when you have the paid receipt and a letter stating that the account has been settled?

Your credit report will show which of the three credit bureaus are reporting the error, and you’ll get a toll-free number to call. But if you have ever called one of these numbers, you know to expect anything but friendly service. You know the drill, “Press 1 for English, Press 2 if you are a consumer, Press 3 if you’d like to enroll in our...” and so on. It’s likely you’ll either leave a voicemail or listen to some sales pitch for a credit protection service. But all you want is to get your credit fixed so you can clean up your report.

You’ll be asked to fax your documentation, fill out some forms and then wait for the bureau to fix the report and update your file. This can take time, sometimes weeks. Luckily, there is an easier way: let your loan officer handle it for you.

That’s right. You can give that very same documentation to your loan officer and they can have the offending item removed from your credit report in minutes. How can they do it so quickly?

Mortgage lenders use credit reporting agencies. Often. And those same agencies hire customer service representatives to make sales calls to all those mortgage companies. One of their services allows the lender to provide the corrected documentation showing the collection account as having been paid to the credit agency, who will then update the credit report almost immediately. What once showed up as an “unpaid” collection account now rightly shows as “paid.” It’s that easy.

It’s important to regularly check your credit, and if you do find yourself in a situation where your credit report has an error on it, don’t go to the bureaus directly. Instead, take advantage of the relationship your lender has with the credit agencies. Your mortgage specialist can fix things much quicker than you can.

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

Five Year Increments

2008-07-20T23:09:00.010-04:00

Which is better, a 30-year or a 15-year fixed rate mortgage? A common and important question which, when answered, affects both the monthly payment and the amount of interest paid on a mortgage loan. While paying less interest over a shorter timeframe seems to be the obvious answer, the difference in monthly payment is surprising to some.

For instance, on a $300,000 note at 6.25 percent over 30 years, the principal and interest payment is $1,847 per month. Whereas on that same loan amount over 15 years at 6 percent, the payment jumps to $2,531! It’s easy to understand why most choose a 30-year loan over a 15-year loan; not only is the payment lower but it takes less income to qualify.

On the other hand, more money goes to interest on a 30-year loan compared to a 15-year loan. Using those same figures, the 30-year note yields $364,920 of interest, most of it in the first 10 years of the loan, while the 15-year loan only requires $155,580. That's less than half the interest that a 30-year loan produces!

So, which is better? Maybe neither.

While few lenders advertise this, there’s a compromise available to you. Loan payment periods can actually be acquired in five year increments. You don’t have to choose between a 30 and a 15-year loan! You can select a 10, 15, 20, 25 or 30 year mortgage. Some lenders even offer 40-year loans. Now it’s possible to both keep monthly payments manageable and save on interest charges.

Here are the payments for these additional amortization periods on $300,000:

Term(yr)----------------Rate-----------------Payment

---10-------------------6.00%----------------$3,330
---20-------------------6.25%----------------$2,132
---25-------------------6.25%----------------$1,979

Since these five year increments aren’t advertised you’ll typically have to ask your loan officer for a quote. Don’t be shy, you’ll find out that you just might be able to have the best of both worlds: lower payments with reduced interest charges!

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

Government Grants

2008-07-13T22:26:00.003-04:00

For first-time buyers, often the first thought that comes to mind is, “I need a down payment.” This is often followed by the question, “Now, where do I get that down payment?”

Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you’re set. But what if you don’t? What if you’re renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn?

One of the most overlooked sources of down payment funds is likely right under your nose—in the form of government bonds and local grant programs.

These programs either provide outright monetary grants for down payment or money to buyers in the form of a forgivable loan. In essence, the government will help you buy your home and you typically only have to pay back the money if and when you sell that same property.

In the past it was challenging to find these special programs, but now all you need is your agent, a computer, an Internet connection, and a search portal such as Google or Yahoo. Enter the search terms “down payment assistance (followed by your city, state or province)” and see what pops up! It might just be the answer to helping you buy your first home.

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

Points: To pay or not to pay

2008-07-07T07:52:00.004-04:00

Numerous closing costs come with any mortgage. There’s a fee for an appraisal and a fee for a credit report… and the lender has its fees, too. And don’t forget about the attorney fee, title insurance and escrow charges. Closing costs can vary from state to state and province to province, but you really don’t have much choice of whether you want a survey or if title insurance is right for you. There will be a variety of services performed and records searched by different companies, and none of these come free of charge.

But there is one closing cost that you can control: discount points or, more simply, points.

A discount point reduces the interest rate on your mortgage. One point is equal to 1 percent of your loan amount, so on a $200,000 loan one point equals $2,000.

Why do some lenders charge points? In reality, all lenders pretty much have the same rates; it’s just that sometimes a lender will advertise a rate with a point or a rate without a point. But the decision to pay a point is yours alone.

A point will typically reduce your interest rate by a quarter of a percent on a 30-year mortgage. If your lender offers a 6.5 percent rate with no points, then you may also get 6.25 percent with one point. So how do you decide?

It’s simple. Just take the difference in monthly savings gained with the lower rate and divide that into the point. The result equals how many months it will take to “recover” the amount you paid in points. Let’s look at an example.

A 30-year fixed-rate mortgage of $200,000 at a 6.5 percent interest rate would mean a monthly principal and interest payment of $1,264.14. By paying an additional $2,000 in the form of a point, your rate would drop to 6.25 percent and the resulting payment would drop to $1,231.43; saving you $32.71 each month. When you divide that $32.71 monthly savings into $2,000 you get 61.14, or about 61 months. Your recovery period is slightly over five years. That’s a little long in my opinion and I’ve never been a big fan of paying points. Instead, I’d encourage you to take that same amount and pay down your principal.

Remember: The quarter percent difference in interest rates when paying a point is an imprecise, general mortgage rule of thumb. Whichever rate you get, be sure to divide the savings into the points paid to see how long it will take to recoup the difference.

Rates creep up

2008-06-16T14:47:00.009-04:00

A recent survey and a rate increase could mean more competition for homes.

Recent indication is that first time home buyers are getting tired of sitting on the sidelines. According to a recent online poll taken by the National Apartment Association, 17 percent of renters plan to make the jump to home ownership in the next year; 41 percent of the 2,041 respondents planned to be home owners within two years. Only 31 percent planned to still be paying rent five years from now.

Another factor that could very soon contribute to an increase in home buying could be rising mortgage costs. Fixed-rate mortgage rates rose to 6.32 percent, the highest it has been since October. After months of aggressively dropping interest rates, many lenders are worried that the Fed will be forced to raise rates back up. As interest rates rise, so do mortgage rates. According to a press release on freddiemac.com, Frank Nothaft, Freddie Mac vice president and chief economist said that, "Mortgage rates jumped this week after a number of Federal Reserve officials, most notably Chairman [Ben] Bernanke and Vice Chair [Donald] Kohn, expressed concern over a threat of inflation." We may very well be seeing the beginning of the end of the super-low mortgage and potential buyers may realize that with rising rates, now may be the time to jump in. Nothaft added, "Moreover, pending home sales for April unexpectedly rose by 6.3% and mortgage applications for home purchases ... were also up last week."

The Best time to Lock in Your Mortgage Rate

2008-06-09T21:11:00.001-04:00

“What do you think about rates … should I lock in now or wait to see if they fall further?” Think I’ve been asked that a time or two over the past 18 years? You better believe it. It’s a good question—one that goes through every single buyer’s head at some stage.

A quoted interest rate is no good unless you’ve confirmed, in writing, that your loan is indeed “locked,” or guaranteed for a designated period of time. You need to be proactive with your locked rate as well and don’t assume that your loan officer already locked you in. In fact, your loan officer shouldn’t lock in your rate without your specific instructions. If it was locked in and rates went down you’d be pretty mad, wouldn’t you?

While neither real estate agents nor loan officers are in the business of predicting the future, it’s still possible to make a prudent choice in the face of uncertainty. Would you rather lock in your rate and watch rates fall or not lock in your rate and see rates go up?

If you decided to lock and rates go down, you’ve secured the market rate that you were happy with. But if rates went up and you didn’t lock, you’d be paying for that mistake for the rest of the loan.

There is an even worse possible scenario: After not locking in your rate, rates shoot up and you no longer qualify for the loan. So it’s important to ask yourself: “Which way would I rather be wrong?”

If you are comfortable with the rate you’ve been quoted, talk to your real estate agent about the possible consequences of waiting to lock it in.

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

FLAG DAY - June 14th

2008-06-04T20:01:00.006-04:00

Each year on June 14, we celebrate the birthday of the Stars and Stripes, which came into being on June 14, 1777. At that time, the Second Continental Congress authorized a new flag to symbolize the new Nation, the United States of America. Happy Flag Day!

This photo was taken as a new flag was being raised at the Holocost Memorial Museum in Washington DC on February 25, 2008.

Taming the Jumbo Mortgage

2008-05-26T22:22:00.003-04:00

Everyone knows the jumbo loan market has been out of whack for nearly 18 months. “jumbo” loans, those amounting to more than $417,000, took it on the chin when mortgage investors stopped buying subprime and alternative loans. For that reason, jumbo rates can be as much as 1.50 percent higher than conforming rates. Historically, jumbo rates were only about a quarter of a percent higher than a conforming rate, but this new spread has kept many out of the housing market: especially those that I call, “just jumbo.”

So what exactly is “just jumbo?” It’s a loan amount that just exceeds the conforming limit of $417,000 and typically reflects a sales price in the $500,000–$600,000 range. Many local markets offer homes in this price category, but the marked difference in rate from conforming to jumbo is slowing down sales. What is the difference in payment between a conforming loan at 6 percent and a jumbo loan at 7.50 percent? On a $500,000 jumbo loan, mortgage payments jump from $2,997 to $3,496 a month. That’s almost $500 more!

Fortunately, with some changes in strategy, we can put a major dent in that increase in payment by buying a property with two loans — a first mortgage and a second. With the first mortgage at or below the conforming limit, the second mortgage then eliminates the need for private mortgage insurance, or PMI. And still, with only 10 percent down on a $500,000 sale.

For example, let’s say we have a sales price of $500,000 and you put 10 percent down. With a jumbo loan at 7.50 percent, the monthly payment on a 30-year note is $3,146 plus a PMI payment of about $188, for a total of $3,334. Using a 40 percent debt ratio means that you need to make about $9,700 per month to qualify.

Now, let’s make the first mortgage for $400,000 at 6 percent (conforming) with a second mortgage at 7 percent on a $50,000, 30-year note. The mortgage payments would be $2,398 and $332 respectively, for a combined total of $2,730. That’s a savings of over $600 per month, and now the income to qualify is almost $1,500 less at $8,200 per month! Do you think that has an impact on affordabilty? I do.

Here's another idea: sellers can carry back that second note to provide some additional income, providing an even better second rate for the buyer!

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

Keller Williams Offices Shine on Industry Surveys

2008-05-19T16:42:00.006-04:00

Every year, RISMedia and REAL Trends release two of the real estate’s most comprehensive surveys: the RISMedia Power Broker Report and the REAL Trends 500. Both surveys rank the largest residential real estate brokerages in the U.S. based on both transaction sides and sales-dollar volume, and these reports are frequently used as referral tools and are referenced by thousands. This year, Keller Williams stormed onto the lists with a very strong showing.

KW offices dominated the Power Broker Report – with more offices listed in their top 700 list than any other franchise brand. The survey also named Keller Williams Realty as the industry leader in terms of number of agent teams. And, 102 KW offices were listed in the Companies to Watch section – making up 55% of the total list!

As for the Real Trends 500, which lists the top 500 brokerages in the nation, Keller Williams Realty had the second highest amount of offices listed both transaction sides and sales volume, among the top franchise brands.

Even further proof that it's always a great day at Keller Williams!

To find out more about these lists, visit RISMedia’s Website or REAL Trends’ site.

What interest rates really mean.

2008-05-12T09:21:00.002-04:00

The Fed did this! The Fed did that! Rates are up! Rates are down! Aaaagggh! Okay, now exhale. In turbulent economic times the media can’t wait to report what interest rates are doing. Pundits prognosticate, forecasters forecast and soothsayers sooth. When should you buy a home based upon interest rates and when is it the right time?

The fact is that interest rates, while important, have little impact when it comes to buying a home. Alright, alright, I’ll admit: it’s important…but it’s not a deal-killer.

There is a fixation on what rates are doing. A fixation on what rates will be in the future and what rates were in the past. I’ve heard potential home buyers tell me, “I’m not sure I want to buy now because rates are ¼ percent higher now and I think I’ll wait.” I say, “Wait for what?” I say let’s not look at the rate but instead concentrate on what that rate actually represents … your monthly payment.

Let’s look at what an interest rate move of ¼ percent really does to a $200,000 mortgage. Say a 30-year interest rate at 6.00 percent “jumps” to 6 ¼ percent. Shall we sit on the sidelines, thinking such a move is suddenly unaffordable? No. The payment on a $200,000 loan “jumps” by about $32 a month!

Now let’s get a bit more draconian and look at a ½ percent increase and the monthly payment increases by $64. Putting that into daily financial terms, $64 is about a tank of gas. While not insignificant, it’s hardly a reason to stay on the sidelines of home ownership. Right now, buyers should have more urgency than ever. Home prices have declined enough to make buying more affordable than it's been in recent memory and interest rates (whether at 6 percent or 6 1/4 percent) are historically low. It's time to act.

Are rates important? Sure they are. But are they the end-all? Heck no. Interest rates over the past few years have been in a very tight range, with few major swings. Just remember what interest rates represent, your monthly payment, and pay less attention to the headlines.

Overcoming the misconceptions about the "credit crisis".

2008-05-05T09:23:00.007-04:00

You’ve watched the news and read about it in the papers. You know, the “credit crisis” and how buyers need 20 percent down in order to buy a home? And even if you have 20 percent down, lenders aren’t making loans anyway. So, why bother, right? Wrong!

We’re right smack in the middle of what just might be the biggest disservice ever perpetrated on potential home buyers. It seems the press just can’t get enough of all the gloom and doom in the housing industry. The fact is that mortgage money is as available today as it was a year ago and loans are being made this very moment with little or no money down. And, no, platinum credit isn’t required. You just need to know where to look. Who are these lenders? They’re right down the street.

Federal Housing Administration (FHA) loans are exploding onto the mortgage scene; recent estimates are that one out of five mortgages are FHA loans. FHA loans never went away, their reemergence is a result of the collapse of the sub-prime market. FHA doesn’t technically have a minimum credit score, although, in practice, lenders won’t approve an FHA loan with a credit score below 500. But that’s a far cry from the notion that an 800 score is the only thing lenders care about.

The best part? FHA only requires 3 percent down. 3 percent. And that 3 percent can come in the form of a gift or grant. FHA borrowers only need to have $500 in a transaction. All the while, FHA mortgage rates are as good or better than their conventional counterparts.

Low or no down payment, extremely competitive rates and easier qualifying. No wonder FHA is moving up the charts!

Please contact me if you would like more information about FHA loans or help getting into your first home.

Yard Sale May 3rd

2008-04-26T19:34:00.008-04:00

Keller Williams Realty Yard Sale

When: Sat. May 3rd, 8am – noon

Where: Keller Williams Realty Parking Lot
2117 S. Glenburnie Rd. New Bern

Why: Proceeds benefit Habitat for Humanity

Bake Sale Items and Drinks will also be for sale!

Donations are also being accepted call 637-2010 for more information.

Please join with us to help better our community!

Things You Should Know About Today’s North Carolina Real Estate Markets

2008-04-21T09:31:00.011-04:00

THERE’S NO SUCH THING AS A NATIONAL REAL ESTATE MARKET.

If you read the newspapers, it’s easy to get the idea that real estate markets are the same everywhere. If conditions are bad in Orlando or Los Angeles or Chicago, they must be bad everywhere, right? Wrong. All real estate is local. When you’re looking to buy or sell, pay attention first to sales price trends, volume and inventory in your target market or region, rather than to misleading headlines about national sales trends.

NORTH CAROLINA HOME VALUES ARE STABLE.

In 2007, the average sales price of a North Carolina home grew by 4 percent, an indicator that homes generally are still worth more now than they were just a few years ago. In fact, since 2000, the average home sale price in our state has risen by more than 25 percent. And in a 12-month period through September 2007, North Carolina had the seventh-highest appreciation in home prices in the country.

IT MAKES SENSE TO USE A NORTH CAROLINA REALTOR®.

If you had a $150,000 legal question, would you deal with it without an attorney’s assistance? If you had a $150,000 income tax issue, would you dare risk not consulting a CPA? There are nearly 45,000 REALTORS® in North Carolina, who subscribe to a strict code of ethics and are expected to maintain the highest level of knowledge of the process of buying and selling a home.

NOW REALLY IS THE TIME TO BUY.

Interest rates significantly dropped twice in January in an effort to stimulate the national economy. While North Carolina’s economy hasn’t suffered as much as some states, we nevertheless can
benefit from these lower interest rates. The bottom line is this: If you’re a buyer, this market is for you!

AND IF YOU’RE A SELLER, BE PATIENT … AND SMART.

Price your home correctly – your home’s value is what someone is willing to pay for it, not the price that you think it should sell for. Competitive pricing is the single biggest reason that a home sells or does not sell. REALTORS® know the marketplace and help you determine an optimum sales price.

IT’S A PRIME TIME FOR SECOND HOMES.

Savvy investors and prospective retirees understand how important real estate is to their portfolios. Nationally, about one third of all home sales are second homes or vacation properties; in North
Carolina, that figure is nearly 40 percent – largely because of our inventory and desirable locations in the mountains and on the coast.

OWNING A HOME BUILDS WEALTH IN A WAY THAT RENTING CAN’T.

According to the Federal Reserve Board, the average renter’s net worth is $4,800. Contrast that to the average homeowner’s net worth of $171,000. Clearly, it pays to own a home, as the hard-earned equity you build will pay future dividends.

THERE ARE HUNDREDS OF REPUTABLE MORTGAGE COMPANIES READY TO LEND.

If you have good credit and a realistic understanding of what you can afford, getting mortgage approval to purchase a home can be more easily attained. Help is also available through the North Carolina Housing Finance Agency and other organizations.

A HOUSE IS WHERE YOU MAKE A HOME, NOT JUST A BUCK.

Most purchasers don’t buy a house to flip it. They buy it to live in it, to establish their roots, to raise a family and to build on the American Dream. The value of strong communities, civic pride, comfortable retirement, and a higher quality of life can’t simply be expressed on a balance sheet.

HOUSING DEMAND IN NORTH CAROLINA IS ON THE RISE.

Even in what was considered a down year in 2007, there were more than 125,000 existing home sales in North Carolina – that’s the third highest number ever, exceeded only by 2006 and 2005. And estimates indicate that the Tar Heel state’s population will increase by more than 400,000 by 2010. These new North Carolinians will need a place to live.

PROVIDED BY THE NC ASSOCIATION OF REALTORS®
2/6/2008

Spring?

2008-02-22T22:51:00.016-05:00

I don't care what the groundhog said, it sure is starting to look like Spring around here! The Daffodils, Forsythia and Camillias are blooming and it appears that I will have to get the birdhouses cleaned out soon since the birds have been checking them out during the past week or so. Then there is the looney woodpecker who insists on trying to peck holes in some of the metal buildings on Broad Street each morning. Honestly, you'd think that bird would learn sooner of later.

Perhaps this good weather is just a teaser, before the remainder of winter's cool weather comes along. I don't know, but we have been enjoying some very nice temperatures and I am definitely ready for Spring!

Along with the springtime weather we've been enjoying, there has been a dramatic increase in the number of home buyers visiting the area. Rick and Carol flew down from Ohio and chose a lot to build their retirement home on. They made an excellent deal on a lot in Oriental. Bob and Stephanie drove down from New York with daughter Miranda. They are thinking about having a home built in the Brice's Crossing area, near the new elementary school in New Bern. Scott and Melissa, with Alexandria, Madison and Cameron have gotten situated in the new home they purchased last year. Lou wants to find a wooded lot with some elbow room and begin construction on a home for his family. John and Bama have been looking at a fixer-upper on a great 1 1/2 acre lot. Robert and Margaret are enjoying the home they purchased in Vanceboro. Al joins us from Florida and has gotten moved into the condo with his dog Doobie. They appear to be enjoying their walks around Oriental. Ronnie and Cindy wanted a condo, but thought it over just a little too long. Someone else bought the one they wanted, so we're keeping an eye out for another. And Richard, Tiffany, Connie and Steve are all headed this way from various areas of the country with their families.

Predicted Home Appreciation

2008-02-11T09:44:00.004-05:00

Last week, I received an interesting e-mail from Edsforecast, which has input from twenty economists and projects home appreciation rates. Their projections cover the entire country, and are broken down into the various metropolitan areas of each state. While there are quite a few areas that are expected to have a negative appreciation rate, the New Bern area is expected to have a positive rate of 1.71 to 3.25% during the next year.

Their forecast for the next five years is as follows:

Your Forecast Value 36 Months from now shows an increase of 11.43 %

Forecasted Value Range 3 Years From Today :

Increase of 8.93 % to an Increase of 13.93 %

Metropolitan Area Forecast

Period of Time Total Appreciation Prediction*

Next 12 Months (1 year) - 2008...............1.71%
Next 24 Months (2 year) - 2009...............5.64%
Next 36 Months (3 year) - 2010...............8.93%
Next 48 Months (4 year) - 2011...............10.58%
Next 60 Months (5 year) - 2012...............11.45%

* Edsforecast only predicts a 3 year property specific forecast.

A Metropolitan Statistical Area (MSA) represents the current U.S. defined sampling area or region for reporting data to various local and state governments. The area may cross various counties and state lines to form a qualified statistical sampling region. The area above represents the MSA for the 28562 Zip Code area including New Bern, Havelock and Oriental. Metro area forecasts are not property specific. You must enter a full address and zip code to get a 3 year property specific forecast.

Happy Holidays

2007-12-10T12:27:00.000-05:00

The Holidays are upon us and no matter how hectic a time this might be, we always manage to get through it in good form. Last month the crew at Keller Williams was hastily putting together a food drive just before Thanksgiving, when news came that the Salvation Army had nearly run out of food. Over 700 bags of food were collected from very generous neighbors in the New Bern area to help restock their shelves.

Here in Oriental, this weekend is our Spirit of Christmas celebration. This annual event has been a tradition since 1986. Businesses, civic groups and churches throughout the area unite for these three special days. Holiday decorations are evident everywhere in town as treats and events are held at most every business. The weekend began at noon on Friday with the Ribbon Cutting at the new fishing pier in Lou-Mac Park. Open Houses began in town at the Village Veterinary Hospital and First Citizens Bank. Then an unveiling of a new Historical Marker going up in Lou-Mac Park was held at the Oriental History Museum, followed by a parade of decorated boats and the lighting of the Spirit of Christmas Star.

Saturday the town really came alive, as people from far and near came to enjoy the festivities, visit the shops and sample the treats. We wandered down to M&M's for a generous cup of clam chowder, while others headed to the Town Hall for hot dogs and chili, stew at the hardware store and s'mores at the Bean. Food and musical entertainment were everywhere. We thoroughly enjoyed visiting and reconnecting with numerous friends we had not seen in months or longer.

The Christmas Parade began promptly at 4:00 as scheduled. The theme this year was the Twelve Days of Christmas, and among the entries were 11 Pipers Piping (wearing bathrobes and smoking pipes) and 3 Babies Parading (in strollers). Ya gotta love small town parades!

The parade ended at Lou-Mac Park where the Tree of Lights was lit. There were also over 3,000 luminaries lit along Broad Street providing a festive evening atmosphere as people walked or drove through town.

I don't know about anyone else, but events like the Spirit of Christmas really help me get in the proper mood for the season. Just what I needed to inspire me to get out the rest of the decorations, and to start wrapping the piles of gifts stacked up around my home office. Priscilla baked a few batches of cookies Friday night to serve at the Circle 10 Art Gallery on Saturday. Of course, I had to sample the broken ones - Oops! another one broke! How many did I "accidently" break, five or six? Freshly baked cookies straight from the oven are also good to help my spirit get in tune with the season!

If you have the opportunity, come visit during Christmas and don't forget about the Dragon Walk at 8 and 11 pm on New Years eve. It is said that if you touch the dragon as it goes by you will have good luck during the coming year.

Wishing you and your family a Safe and very Happy Holiday Season.

Autumn in Oriental

2007-11-26T13:51:00.001-05:00

It appears that autumn is upon us in Oriental. We got a little frost last week, and our neighbor's tree is looking pretty in it's fall colors. It was supposed to reach 75 degrees today, though it may not get quite that warm unless the rain clouds clear away. Our ginger is still blooming and also the large pink rose bush. And I expect the lawn will need to be mowed at least once more before the end of the year.

Business had slowed down a bit since Labor Day, but is now picking up again. It's nice to see the number of available homes start to decrease, after watching the inventory constantly increase over the past year. There are some good deals to be had, and some lucky buyers are making their move now in order to get the lowest possible price. Some of the builders are offering very attractive incentive packages on their new homes also.

The Spirit of Christmas celebration and parade will be here on December 8th, just over a week away. Hope to see many of you there.

Coming Events in Oriental

2007-11-21T21:32:00.000-05:00

Spirit of Christmas - December 8th – Sponsored by local merchants, churches and civic groups, The Spirit of Christmas in Oriental is an event during which the town literally shines. Held on the second Saturday in December, Oriental becomes a Christmas wonderland, a sight sure to put anyone in a holiday mood. The annual Christmas parade is held in the afternoon, followed that evening by a display of brightly shining luminaries lighting the length of Broad Street.

This year at the Christmas Parade, Santa's elves will be collecting coins and donations for Toys for Pamlico Kids. New items for ages newborn to 18 yrs old, in their original packaging (not gift wrapped) are highly appreciated. Monetary donations are used to purchase shoes and coats where needed. Call Sallie Ransom at 249-1111 if you would like to join the elves.

The Running of the Dragon - December 31st – The town of Oriental annually observes New Year’s Eve with the Running of the Dragon. Twice during the evening, at 8:00 and 11:00, an enormous dragon magically appears beside the harbor. It winds its way slowly through the streets to welcome in the new year, powered by as many children and adults as can fit under its colorful, flowing canopy. It is said that if you touch the dragon as it goes by, you will have good luck throughout the new year.

Pin the Tail on the BOTTOM of the Market!

2007-11-11T09:20:00.000-05:00

The majority of this information comes from CyberStar colleagues John Kurtzer and Dianne Dunn. It's an excellent representation of what we're seeing in the real estate market today. There are some great opportunites to find homes and investment properties which are well under prices from earlier this year or even last year. We've all been working with prospective buyers here in the New Bern/Oriental area, and many of them feel that they should wait until the housing market is at the bottom before they buy. Let's look at an interesting take on "the Bottom of the Market", and how it will affect your buying decision.

In this graph, the "V" represents the housing market. The left side represents the market going down to the "V point", and the right side represents it going up. If we were to ask you where the housing market is right now, most would probably select somewhere near the Red arrow.

If we think that the market is moving towards the bottom, . . . How will we know then it actually does hit the bottom?

Experience tells us that the housing market has hit the bottom when prices start to go back up. It will be difficult to be sure that the market has hit bottom for a few months. It’s not a sudden shift, it’s a gradual shift. You’ll be able to tell that the market has turned when prices reach this point (green arrow).

What is the difference in housing prices between the red arrow and the green arrow? Not much… but there is another difference and it is major.

If you buy a home on the left side of the graph, it is considered a buyers market. You would be more likely to get concessions from sellers or builders including price reductions, repairs, upgrades, closing costs, etc. If you wait until the market turns and you buy on the upswing, you and every other buyer that has been waiting for the market to hit bottom will be bidding on the same house. Those types of situations create a sellers market.

There really is no better time to buy a house than now for a few reasons:
1. There is a wonderful selection of homes to choose from right now.
2. Sellers are very willing to negotiate on price, terms and perks.
3. Interest rates are still at an historical low.

I'm suggesting we take a good look at the above examples and decide what percentage the prices will have to drop before a buyer thinks housing prices have hit bottom and offer that price. For example, if you think that prices will go down another 5%, then submit an offer at 5% below the asking price. Sellers will either counter, accept or decline. Then look at a loan payment based on current low interest rates. On a $200K home with $10,000 cash down, the payment would be approximately $1140 at 6% interest rate. If the interest rates were to go up only half a point to 6.5%, you would have to find a home priced at no more than $190K to keep the same payment, and therefore, your buying power has decreased.

The message here is to take advantage of the market today! The opportunity is knocking. November and December are historically the best months to buy Real Estate, since demand is low. The Real Estate market always increases after the holidays and rates start increasing as the demand turns back up.

If you would like me to share what I see as the best bargains on the market today, just contact me and I'll put my experience to work for you!

Joe Brant, Keller Williams Realty - 252-675-3038.

The only market that matters is yours!

2007-10-24T16:41:00.000-04:00

Recently on the Today Show, during a segment on the national real estate market, CNBC's Jim Kramer uncompromisingly stated, "now is the absolutely worst time to buy!"

There is little doubt that remarks such as these from so-called experts have been pushing potential buyers to the sidelines.

Here's what Gary Keller, co-founder and chairman of Keller Williams Realty has to say about waiting out the current market:

First, residential real estate is not a national market product - it is a local one. To say from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees - it is a useless and irrevelant perspective. What is happening in your local market is all that matters.

Second, trying to predict when it is a good time to buy, or not, means you're trying to time the market. Staying on the sidelines is the surest way for most people to never time anything correctly.

Last, and maybe most important - there are always two markets in every market. There is the market of properties that are good buys and there is the market that are not good buys. Interestingly enough, this is true in either buyer or seller markets. To categorically say that this is the time to buy or not is absolutely ignoring the fact that every market really has two markets inside it.

So, what does the picture look like in the New Bern, Havelock, Oriental area. Well, it happens that those of us in the real estate business have been taking a serious look at the situation in recent weeks. In the current market, there is presently an excellent selection of homes, more homes than there are buyers for. As a result, the prices of these homes are being reduced and offers are being thoughtfully considered. In addition, interest rates have remained quite low. Our thoughts are that this is the beginning of a superb time for buying real estate, whether it be a single home or several investment properties. Not everything on the market is an exceptional buy, so you will need to do some shopping as always, but there are a lot of very good properties available.

Great Idea!

2007-10-24T00:07:00.001-04:00

About a month ago, mid-September, Mark and Gail arrived from Illinois to look at some property in New Bern. While in the area, they also wanted to take a look at available properties in Oriental. I met with them briefly on Friday morning, just before they left with Craig to view the New Bern properties. Craig had referred them to me for viewing properties in Oriental as I have owned property there since 1992, and make my home there.

We met again on Saturday morning and headed out to see what was available in the area. I told them a little about the village and the many varied shops, organizations, and businesses here as we looked at homes, lots and marinas. They let me know that they had finished looking in New Bern early the previous day, and had driven down to Oriental to look around. We stopped at the Deli for lunch, and took a table on the deck to enjoy the view. I called my wife to see if she would like to join us, and she walked down from the house, making the meal that much more enjoyable. Actually she had accidently locked herself out, so it was a good thing we went back to town for lunch.

The meal, the company, the conversation and the view made the day a memorable event. A perfectly relaxing time in the most relaxing place I have ever been to or lived in. Toward the end of our meal, we spoke of staying in contact. I found out that Mark and Gail have a two-page foldout photo of Oriental on their refrigerator. Then Gail suggested that I send a photograph of something in the area each time I make contact with my customers and clients. What a great idea!!!

A few days later I received an email, letting me know that they had returned to Oriental after church on Sunday and had enjoyed sitting in the Adirondack chairs in the park overlooking the river. Three visits to Oriental in three days, I believe they are falling in love with the village, and that's not hard to understand. I don't recall where I found this photograph, but I did not take the picture. When I saw it I immediately knew who it might have some meaning for. So Gail, this one is for you, and Thank You for the Great Idea!

October 25th - This afternoon, I received an email from Gail. She and Mark found my Blog, and asked if I would add the following - " . . . . . if it's not too much trouble, could you mention that we have fallen in love with the area and would welcome any donations in getting us there. We take cash or property deeds. We might even take a sailboat."

Surprise Visit

2007-10-21T21:11:00.000-04:00

I recently received a call from Maria, a very pleasant surprise. Jack and Maria live in New York and had purchased about 4.5 acres of land with a boat slip from me a while back. They were in town so I walked over to the Tiki Bar to say hello. Evidently they were having a great holiday of fishing, relaxing and becoming more acquainted with the area. They had been out on a fishing boat and were very pleased with their catch. Maria was especially pleased that the captain's wife came along, as the girls enjoyed socializing.

Jack showed me photos of an old Harley Servicycle he had restored and it is "drop dead" gorgeous! The paint job on that Servi is phenominal! He also had photos of another Servi that he is currently working on. This one is being customized, and I am certain that the work on it will be as flawless as the first.

They visited their property here and had met some of their neighbors. Jack was excited to learn that the neighbor beside them was from the same area where they currently live. Small world! They really enjoy Oriental and left saying "we'll be back next month". If you ever get to meet Jack, Maria, and their little dog Peanut, take time to get to know them. You'll be glad you did.

About Oriental

2007-10-21T21:01:00.000-04:00

Oriental NC

Those who know and love Oriental are aware that there's just no other place like it. Widely known as the "Sailing Capitol of North Carolina", where boats outnumber residents 3 to 1. The small town atmosphere is so relaxing during the week, just as it is for those who spend their weekends with us. I've heard it said that "the temperature is never higher than 80 or lower than 60 and it only rains at night". While that may not be totally true, it's not excessively hot or cold very often, or for very long.

Once you have spent time in Oriental, you will find this sailing and fishing village of 875 people is not quite like anywhere else. It's history is part of that feeling.

Oriental was settled by Louis B. Midyette in the 1870's. Legend says that "Uncle Lou", as he was known, anchored his sailboat in the protected waters of Oriental to escape a gale. He was sailing from New Bern back to his home in Dare County where he was a farmer and a fisherman. Storytellers claim that the next morning Lou went ashore and climbed a tree. He was captured by the beautiful landscape and all of the waterfront created by the many creeks. He returned home to persuade others to join his family in moving to the area.

Conveniently located along the Intracoastal Waterway (ICW), Oriental is a popular stop for "snowbirds" cruising south for the winter or heading north for the summer. Many residents will tell you that their first visit to Oriental was by water while cruising coastal North Carolina and that they too decided to make Oriental their home.

Why is it called Oriental?

Most stories heard around Oriental seem to have a boat in them. The origin of the town's name is no different.

The United States Post Office Department established a post office here back in 1886. Lou Midyette was named postmaster of what was then known as Smith's Creek. Lou's wife, Rebecca, thought the village needed a better name.

Rebecca had found the nameplate from the sunken ship "Oriental" on the beaches of the Outer Banks (some stories say she just saw it in a Manteo home - but either way the name "Oriental" made an impression on her).

The sailing steamer Oriental was built in 1861 in Philadelphia, and was used as a Federal transport ship in the Civil War. She met her fate in May of 1862, shipwrecked off Bodie Island 33 miles north of Cape Hatteras. The passengers and crew were saved. Today, one of the Oriental's portholes is on display at the Oriental History Museum. The fate of the "Oriental" nameplate is unknown.

The village became known as Oriental a few years after the post office was established, and was incorporated in 1899.