N.C. garners No. 4 spot in CNBC ranking CNBC has declared North Carolina as most improved among the top five states for doing business, elevating the state from 9th to 4th in its annual survey, "America's Top States for Business." "This shows that the hard work of the past year has paid off - our investments in education to build the workforce of tomorrow, policies that create a more business-friendly climate and our aggressive recruiting," said Gov. Bev Perdue. "When I took office, I pledged to take any meeting and make any call to bring jobs to this state. There’s nothing I love more than convincing a corporate executive of what a great place this is to live and work." The ranking is the highest North Carolina has achieved in the four years of the survey. In 2008 and 2007, North Carolina ranked 6th and 5th, respectively. In its rankings, CNBC scored the states on more than 40 measures of competitiveness based on the cost of doing business, workforce, quality of life, economy, transportation and infrastructure, technology and innovation, education, business friendliness, access to capital and cost of living. See the full CNBC special report on "America's Top States for Business." The report also includes a video highlighting North Carolina and CNBC's resons (including our workforce and access to capital) for ranking us No. 4. Below are the rankings for the top ten states. See the full rankings for all states. State Cost of Business Workforce Quality of Life Economy Trans- portation Tech & Innovation Education Business Friendliness Access to Capital Cost of Living 1 Tex. 30 16 29 1 1 4 30 19 7 8 2 Va. 26 9 18 11 12 10 13 2 9 27 3 Co. 25 10 2 8 36 12 29 4 15 35 4 N.C. 15 3 32 37 10 11 26 13 10 23 5 Mass. 39 23 6 17 39 3 1 14 2 41 6 Iowa 1 20 17 10 32 29 16 12 36 17 7 S.D. 4 15 11 4 27 49 21 3 40 5 8 Minn. (tie) 31 34 12 5 11 16 9 20 19 15 8 Utah (tie) 7 7 5 23 32 25 48 10 39 17 10 Ga. 20 3 35 37 2 17 28 17 13 9

© 2010 North Carolina Department of Commerce | SYNCTM is a trademark of the N.C. Department of Commerce.

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N.C. discusses emergency response to the Gulf oil spill

Gov. Bev Perdue on June 15 joined officials from the N.C. Dept. of Crime Control and Public Safety, the N.C. Dept. of Environment and Natural Resources and the U.S. Coast Guard to discuss the state's ongoing preparations in the event oil from the spill in the Gulf of Mexico reaches North Carolina shores. A briefing in the Emergency Operations Center in Raleigh was held for state legislators and another session for local elected officials, local government managers and public safety officials from coastal counties.

Perdue stressed that experts, including the Coast Guard and U.S. Environment Protection Agency, believe there is only a remote chance that any oil will reach North Carolina shores. If any oil does reach North Carolina, the state is prepared. North Carolina had a plan in place to deal with an oil spill long before the situation in the Gulf, and that plan is being updated to handle the current situation. Perdue reminded participants that North Carolina beaches are clean and open for business this summer season.

"I believe North Carolina has the best emergency management team in the country. We have proven over and over we can handle whatever emergency comes our way," said Perdue. "No matter how small the chance that oil could reach North Carolina, my goal, as always, is for us to be prepared."

Additionally, the N.C. Dept. of Crime Control and Public Safety has launched a Web page dedicated to providing information and useful links regarding the Gulf oil spill. The page is located at the department's home page at www.nccrimecontrol.org and can be reached by clicking on the Gulf Oil Spill tab.

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The North Carolina General Assembly has updated its General Statues.  In relation to your rental property, N.C. General Statue 42, Chapter 42 (7), effective January 1, 2010, you must “provide a minimum of one operable carbon monoxide detector per rental unit per level, either battery-operated or electrical, that is listed by a nationally recognized testing laboratory that is OSHA-approved to test and certify to American National Standards Institute/Underwriters Laboratories Standards, and install the carbon monoxide detectors in accordance with either the standards of the National Fire Protection Association or the minimum protection designated in the manufacturer’s instructions, which the landlord shall retain or provide as proof of compliance.”  “A carbon monoxide detector may be combined with smoke detectors if the combined detector does both of the following:  (i) complies with ANSI.UL2034 or ANSI/UL2075 for carbon monoxide alarms and ANSI/UL217 for smoked detectors; and (ii) emits an alarm in a manner that clearly differentiates between detecting the presence of carbon monoxide and the presence of smoke.”  This Statue applies ONLY to dwelling units having a fuel burning heater or appliance, fireplace, or an attached garage.

 

While this applies just to the above specified dwellings, we encourage each of our homeowners to be proactive in installing a carbon monoxide detector(s) to safeguard you and your tenants.  
You can read more of the General Statue at – Look up “42-42”:
http://t.lt01.net/m/f31GdtiNzYCA_VUNNNisOrCvE3AnVHjIETkmQ5ZN6RO6ukOsqg

Tags: real estate | safety | nc | north carolina | statute | carbon monoxide | proactive | tenants | vacation | renters | rentals | Clif Cheek

North and South Carolina stun the recovering housing markets with 7 of the top 20.  Read on for the list and the link to the article from Builder Online is below.

1.     Austin-Round Rock, TX

2.       Raleigh-Cary, NC

3.       Charlotte-Gastonia-Concord, NC-SC

4.       San Antonio, TX

5.       Charleston-North Charleston-Summerville, SC

6.       Denver-Aurora-Broomfield, CO

7.       Huntsville, AL

8.       Washington-Arlington-Alexandria, DC-VA-MD-WV

9.       Durham-Chapel Hill, NC

10.   Eugene-Springfield, OR

11.   Dallas-Fort Worth-Arlington, TX

12.   Richmond, VA

13.   Minneapolis-St. Paul-Bloomington, MN-WI

14.   Colorado Springs, CO

15.   Myrtle Beach-North Myrtle Beach-Conway, SC

16.   Portland-Vancouver-Beaverton, OR-WA

17.   Wilmington, NC

18.   Houston-Sugar Land-Baytown, TX

19.   Greenville-Mauldin-Easley, SC

20.   Des Moines-West Des Moines, IA

Read the full article here: http://www.builderonline.com/local-markets/the-20-healthiest-housing-markets-for-2010.aspx?rssLink=The+20+Healthiest+Housing+Markets+for+2010

Tags: charlotte | chapel hill | durham | raleigh | myrtle beach | greenville | charleston | sc | nc | housing markets | recovery | north and south carolina | wilmington

 

Everyone is aware of the challenges the housing market faces on a national level. But for real estate professionals, the challenge is to show buyers the long-term benefits of home ownership and the opportunities that exist in today's local markets.

 

In volatile times, buyers and sellers may be scared to the sidelines by shifting home prices. In a down market, it's easy to lose sight of the fact that real estate is a long-term investment. Historically speaking, it's one of the best investments you can make.

 

A good reason to look at buying is interest rates are historically low right now, and they can have a much greater effect on affordability than home prices. For example, suppose you are taking out a $300,000 loan, to buy a home with zero down at 6 percent (Let's also assume an excellent credit score). The principal, or cost of the home is $300,000. The interest, or cost of credit is $347,515 - more than the price of the home, even at a modest 6 percent rate.

 

Rates have risen in the first half of 2008, but in historical terms, mortgage financing is still a great bargain. From 1980 to today the 30-year fixed rate mortgage has ranged from more than 18 percent to less than 6 percent, says Jim Elfelt, a mortgage banker in Virginia Beach, Virginia. If you're waiting for a home prices to come down another $10,000, Elfelt says, you may be missing the big picture because a small increase in the cost of credit can quickly offset a reduction in a home's sale price.

 

For example, suppose you're applying for a 30-year, fixed-rate $300,000 mortgage. Note how a small change in rate can makes major difference in your monthly payment and the overall cost of your home through the years:

 

Interest rate	Principal	Total Interest paid	Monthly Payment	Total Cost, Principal & Interest	Total Additional Cost
6%	300,000	347,515	1,799	647,515	0
6.25%	300,000	364,975	1,847	664,975	17,460
6.50%	300,000	382,633	1,896	682,633	35,118
6.75%	300,000	400,486	1,946	700,486	52,971
7%	300,000	418,527	1,996	718,527	71,012

 

As you can see, a single percentage point on your mortgage has a huge effect on a home's affordability. The moral? When you're looking for a bargain, it's easy to focus on sales price, but be sure you're not losing sight of the big picture. If you try to time the market to save a few thousand on the price of a home, you might end up with a higher monthly payment and total overall cost of home ownership.

Tags: home buying | Ocean Isle Beach | mortgage | real estate

 

Rates on 30-year fixed mortgages rose slightly this week to an average of 5.01%, Freddie Mac announced Thursday Feb 4th. This is up from 4.98% last week.  However, we are still faring well in comparison to last year when rates were slightly higher at this time.  The average 30-year fixed mortgage was at 5.25%.

Freddie Mac reports that rates fell to a record low of 4.71% in early December. A Federal Reserve program pumping $1.25 trillion into mortgage backed securities has held rates around 5 percent and make home buying more affordable. The program is set to end March 31, 2010.

This is good as long as you are able to take advantage of the low rates and maybe even pair this with the $8,000 first time home buyer tax credit.  There is no better time to buy than the present.  Don't let this opportunity to get your dream home for nickels on the dollar pass you by.  Call us today to find out how to take advantage of our market.

Tags: mortgage | rates | Ocean Isle Beach | north carolina | South Brunswick Islands | first time home buyer tax credit | consultation

 

Here is how the Model Lease-Back Program works:
You purchase a new home from Waterway Cove Builders for a purchase price of $350,000.  We agree to lease the home from you for $2,500 per month for 2 years.  You make the payments for the mortgage, the insurance and the taxes.  We pay the other expenses on the home, including the HOA dues, the utilities and all maintenance…for the 2 years we use it as a model home.  We’ll also pay all your closing costs when you close your loan. The projected closing date of your new home is October 15, 2010.
At the end of 2 years, we make any necessary repairs to get the home to move-in condition and turn it back over to you.  If you are not ready to use the home at the end of 2 years, then we will lease it for another year.  It’s up to you!
The projected financial benefits are as follows (contact Clif Cheek (910.617.5543) for more details):
Home Purchase Price	$350,000
Down Payment You	$  70,000
Make Mortgage Loan You Obtain	$280,000
FINANCIAL DATA:
Gross Rent You Receive Per Month	$    2,500
Less: Total Payments You Make Per Month	$    1,942
Equals: Net Cash You Keep Per Month	$       558
Or: Net Cash You Keep Per Year	$    6,696
ANNUAL TAX BENEFITS:
Total Income You Receive	$  30,000
Less:    Interest Payments You Make	$  18,003
Less:    Taxes and Insurance Payments You Make	$    2,068
Less:    Depreciation You Can Write Off	$    8.909
Equals: Net Taxable Income That You Recognize	$    1,020
Your Internal Rate of Return Is:	27.05%

Tags: Waterway Cove | Leaseback Program | Ocean Isle Beach | north carolina | Beach Real Estate | Waterway Community | Special Pricing | Strong Rate of Return on Investment | Housing | South Brunswick Islands

       A recent article on CNNMoney.com headlined "Homebuyers sign 16% fewer contracts in November" illustrates the point that "If it bleeds, it Leads" But you've got to read on to find that the headline may be just a tad misleading.  Sure November 2009 saw fewer contracts being written and for very rational & obvious reasons.  At that time, the Home Buyer Tax Credit was just being extended and expanded relieving some of the uncertainty over that program but also reducing some of the urgency felt among buyers.  Top that off with Visions of Sugarplums and aticipation of the holiday season as well as the fact that it's been downright cold, why wouldn't one expect a lull in buyer traffic. 
      However, if you read the full article, you'll find that year over year more contracts are indeed being written this year versus last, "Despite the steep month-over-month decline in November, contract signings are still up 15.5% compared with a year ago, when the housing market was deep in the doldrums." 
      Now is a great time for sellers to be sprucing up their product, i.e. their homes, for the market and re-examining pricing strategy in order to position themselves to take advantage of what will surely be a busy spring selling season.  Buyers, keep your eyes out for the best deals around but don't sit on the sidelines too long as, despite what the national media may have to say on the subject, the best deals are being taken advantage of and there are lots of folks ecstatic about the opportunities they've found.
      Whether you're looking to buy or sell, give us a call today for the most up-to-date info on happenings in the South Brunswick Islands.  Feel free to visit my personal website at www.JimmiePendergrass.com or call me at 910-575-6262.

Tags: Sunset Beach Real Estate | brunswick county nc | Jimmie Pendergrass | Resort Brokerage and Consulting | ocean isle beach real estate

Imagine being on the beach late afternoon lying on a blanket looking over the horizon and watching the vibrant, multi-colored sunset.  You watch the sun go down and the moon come up as the colors reflect off of the peaceful, hypnotic shore break.  Doesn’t this sound like a wonderful place to live?

Leave the big city or cold weather and come join us at Ocean Isle Beach, NC.  We will have a cocktail waiting for you. You will only regret it if you don't look into it.

 

Tags: Ocean Isle Beach | Baxter Cheek | Resort Brokerage and Consulting | north carolina | Sunset Beach | Beach Communities | Ocean Isle Real Estate | OIB

In an article published by the Associated Press Dec. 22, 2009, the United States economy improved 2.2 perecnt in the 3rd Quarter.  Although analyses of the 4th Quarter have yet to be determined (to be released Jan 29, 2010), economists suspect companies stocking depleted inventories will assist in 4th Quarter growth.

In a statement released by the Federal Open Market Committee, economic activity, including household spending, had improved in the latter part of 2009 and the declining job market was beginning to turn around.  The statement added that the financial markets have also become “more supportive of growth.”

This is positive news for our move into 2010.  Hopefully the economy and consumer confidence will both continue to rise throughout the next year.

++ For the Full Articles Click Here: Economy Improving in 4th Quarter and Here: Fed Will Hold Down Rates, Citing Tenuous Recovery

Tags: Fourth Quarter Improvements | Clifton Cheek | Resort Brokerage and Consulting | ocean isle beach real estate | Economy Recovering

      The National Association of REALTORS reports that November home sales  jumped an unexpected 7.4% coming off a year-over-year increase of 10% in October.  This is great news for sellers and a wake-up call to buyers; the best deals are being taken advantage of and now's the time to jump off the fence and secure your own great deal.  At Resort Brokerage & Consulting, Inc. we have the skills, knowledge and gumption to help you find your next piece of Heaven in the South Brunswick Islands.  Give us a call today to get started.

Read the Article Here

Tags: ocean isle beach real estate | Resort Brokerage & Consulting | Jimmie Pendergrass | Sunset Beach Real Estate

It's no secret that real estate is still one of the best investments for return on your money.  Therefore, I will keep this simple...If you are currently looking or have a client looking for a tremendous investment opportunity, take a look at the links below.  These homes are priced less than the loan payoff!!!  These Homes Must Go!!  For additional information you can also view the specs on these homes at our Resort Website... http://www.theresortatoceanislebeach.com/

 

17 Sea Turtle Path_ Ocean Isle Beach, NC             

74 West Second St._ Ocean Isle Beach, NC

 

 

 

Baxter Cheek

910-512-6699

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Lot/Home Packages from

$495,000

An Oceanfront Beach Club sets The Resort apart from other similar developments.  The Resort Beach Club offers swimming and showering facilities, an outdoor grilling area and a stylish commons room, perfect for social gatherings or parties.  If you would like to escape the salt and sand of the beach and lounge by the large pool, have an afternoon barbeque, or just socialize with neighbors, The Resort offers a multitude of options.  Ocean Isle’s market area, fishing pier, restaurants, museum, shops, miniature golf and arcade for the kids are just a short walk from the Resort.

Please contact Resort Brokerage & Consulting to discuss The Resort, pricing options on existing homes, multiple lot discounts, financing options or for any other real estate need. 

Tags: ocean isle beach real estate

WASHINGTON - A gauge of future U.S. home sales rose more than expected in July to the highest level in over two years as first-time buyers rushed to take advantage of a tax credit that expires this fall.

The report showed the housing market is rebounding faster than expected from its historic bust. Low prices and the looming expiration on Nov. 30 of a first-time homebuyers’ tax credit of up to $8,000 have spurred sales. Prices in much of the country have begun to rise from the depths of the slump.

“The overall trend toward stabilization is undeniable at this point,” wrote Mike Larson, real estate analyst at Weiss Research.

The National Association of Realtors said Tuesday its seasonally adjusted index of sales contracts signed in July for previously occupied homes rose 3.2 percent to 97.6. It was the sixth straight increase, and 12 percent higher the same month last year.

Economists surveyed by Thomson Reuters had expected the index to edge up to only 96.5.

The index of pending home sales indicates how sales completed this month and next will turn out. Typically, there is a one- to two-month lag between a contract and a final deal. But delays in getting mortgages approved and appraisals completed have recently lengthened the time it takes to close a deal in many cases.

Analysts predict sales will drop off when the tax credit expires, or if mortgage rates rise from near-record lows. Foreclosures also continue to rise, and banks are forced to sell those properties at deep discounts, pushing prices down.

A 12 percent jump in sales contracts in the West and a 3 percent increase in the South drove July’s overall increase. Sales fell in the Northeast and Midwest.

The Realtors group projects that around 2 million first-time buyers will take advantage of the credit this year, and says it is spurring 350,000 additional sales that wouldn’t have happened otherwise.

Nationally, home prices in the second quarter posted their first quarterly increase in three years, according to the Standard & Poor’s/Case-Shiller national index released last week. Prices are growing in some parts of the country, but “beware a rise in supply as frustrated would-be sellers see their chance,” wrote Ian Shepherdson, chief U.S. economist at High Frequency Economics.

While home prices are still 30 percent below the mid-2006 peak, their new direction should bring relief to lenders, homeowners and buyers alike.

Falling property values have wiped out $4 trillion in homeowners’ equity, and thousands have walked away from homes that are worth far less than their mortgage balance. But now, with prices stabilizing, many buyers who had been staying out of the market are coming off the sidelines.

Tags: pending home sales | sold property | real estate | north carolina | national association of Realtors | Associated Press | market conditions

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Federal Reserve Chair Ben Bernanke said on Friday that he was optimistic the economy is about to take off.

Bernanke acknowledged that credit is still tight, especially for businesses, but he told an audience of bankers, academics, and economists that the worst is over.

"Although we have avoided the worst, difficult challenges still lie ahead," Bernanke said. "We must work together to build on the gains already made to secure a sustained economic recovery."

Bernanke called for stronger regulation of financial rules "to ensure that the enormous costs of the past two years will not be borne again."

Source: The Associated Press, Jeannine Aversa (08/21/2009)

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If you can afford it, home prices remain at an all-time low and selection an all-time high.

There is an opportunity in residential real estate ownership unlike any we've seen in quite a long time, a perfect storm of sorts that is unlikely to last much longer. Home prices are down, interest rates remain near historical lows, and inventory is high. Thus, those with stable jobs and good credit can find their dream home, pay a price lower than any time in the last five or more years, finance it at a very favorable interest rate, and thereby be perfectly positioned for the housing recovery. 

Most of us who remember shopping for a home in 2005 and 2006—when national inventories were extremely low—recall how difficult it was to find our dream home in our preferred neighborhood at a price we considered affordable, let alone realistic. With so few houses available, any home in a desirable area sold regardless of its condition or layout—often before it was even officially listed.

According to the National Association of Realtors, the inventory of existing homes for sale peaked in November of 2008 at an 11 months' supply. There was a 9.6 month supply at the end of May and, from what I hear, it has fallen since then.

While you think your dream home will remain on the market forever; the selection is definitely shrinking.

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Dreams of a private, no-hassle, community on Ocean Isle Beach can finally be realized.  The Resort at Ocean Isle Beach offers the perfect balance of luxurious beach homes and a pristine, club lifestyle you have been waiting for.  The Resort is a planned community featuring second row, third row, fourth row and sound front home sites on the middle to western end of Ocean Isle Beach. Elevations are some of the highest on the Island.

 

Lot/Home Packages from

$495,000

An Oceanfront Beach Club sets The Resort apart from other similar developments.  The Resort Beach Club offers swimming and showering facilities, an outdoor grilling area and a stylish commons room, perfect for social gatherings or parties.  If you would like to escape the salt and sand of the beach and lounge by the large pool, have an afternoon barbeque, or just socialize with neighbors, The Resort offers a multitude of options.  Ocean Isle’s market area, fishing pier, restaurants, museum, shops, miniature golf and arcade for the kids are just a short walk from the Resort.

Please contact Resort Brokerage & Consulting to discuss The Resort, pricing options on existing homes, multiple lot discounts, financing options or for any other real estate need. 

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For Sale - Ocean Isle Beach    $638,808.00 ( Unsold/Available )

5 + 2  5  4

Make your money when you buy Price reduction >$150,000. This new home in The Resort at Ocean Isle Beach is just steps from the Oceanfront Beach Club with pool. The reverse floor plan and elevated lot provide immacualte views east toward the bridge, sound, commercial district and Atlantic Ocean. Large ceramic tiles set on diagonal unite the kitchen, upstairs living and dining areas allowing a free flowing entertaining area.Also features up and down living rooms. Owner/Broker relationship.

Make your money when you buy. Limited offering time at this price. 

Call Larry @ 910-512-6688

 

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Bottom of the Market Pricing
Priced less than the loan payoff. This new home in The Resort at Ocean Isle Beach is just steps from the Oceanfront Beach Club with pool. The floor plan and elevated lot provide immacualte views of the Atlantic Ocean. Large ceramic tiles set on diagonal unite the kitchen, living and dining areas allowing a free flowing entertaining area. Owner/Broker relationship.

 Price:  $599,000.00
 Market Status:  Available
 MLS ID: 635138

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