When freebies failed to attract new buyers, builders increasing saw their bottom line eroded by excess inventory and rising carry charges. In all, the tactic appeared to be backfiring. Potential home buyers are proving unwilling to purchase homes until prices stabilize, fearing further price depreciation, so builders have not gotten the sales volume needed to compensate for their reduced margins. The market is not expected to improve soon and builders desperate for cash and saddled with inventory, many have been unwilling to resist price-cutting. If they didn’t cut their prices, they reason, buyers would either turn to competitors who offer better deals or buy used or foreclosed homes. Potential buyers are coming in “nine or 10″ times. If they hear the deal today is better than the deal was two weeks ago or a month ago, they’re not going to buy. (more…)

search for : home buyers, price depreciation, foreclosed homes

$5,850,000

MLS Number: 50913

City: Valle Crucis, NC
Stories: 2
Bedrooms: 4 Baths: 4.5
Area: Boone-Blowing Rock, NC
Year Built: 1990
Plus Five fully furnished 1,400 sq. ft. Rental Cottages. Each built in 1996 on approx. 1/2 acre sites. Current cottage average annual rental income $150,000.

39.4 acres with 360 degree view of Blue Ridge Mountains.

5,200 sq. ft. main house built in 1990 on 1.24 acres.

No restrictions and no zoning offer many other options:

* Family compound
* Corporate retreat
* Religous retreat
* Horse farm / Dude ranch
* Recording studio
* Cottages can be sold separately
* Land can be further subdivided if desired

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

click here for more information

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

The DVD “Open House” is a hilarious musical experience which chronicles the American dream of finding a home. The crew acts through Sunday open houses featuring 2000-square-foot lovers (you know, like mile-high clubbers), desperate real estate agents, a jewel thief, cops on the case, and other “tire kickers” with loose open-door policies. With some catchy tunes and B-movie actors, it’s been called both “funny and original” and “the worst musical ever.” It’s a bargain gift available for as little as $4.50 from Amazon.com, For real estate agents in this down-market it may be just the thing to bring holiday cheer. (more…)

search for : Open House, tire kickers

For residential construction projects, hardwood flooring is a popular choice. But there are other choices, and they can give your floors a different look and feel. While hardwood strip flooring comes in pieces cut lengthwise from lumber, another variation of hardwood flooring is end grain that comes in sturdy blocks cut from the ends of pieces of lumber. It makes for a durable floor with an interesting grain pattern because the end of the wood faces up. Once used primarily in demanding environments like factories, it is increasingly being used in homes. For a more elaborate look, you might consider painted wood floors, which were common in the 18th and 19th centuries but are seen less often today. You can try creating simple geometric patterns by marking off shapes like large diamonds with painter’s tape and filling them in with floor paint, or you can hire a professional. (more…)

search for : hardwood flooring, painted wood floors

Up until recently, underwriters usually rubber-stamped an appraisal report if it included information about three comparable properties that sold in the area within the previous six months that supported the purchase price of the property being appraised. Due to the fact that property values are under pressure in some areas, lenders may ask to see information about comparable listings that sold within the last three months. The more recent the comparable, the more indicative it is of current market value, particularly in a changing market. In areas where it is evident that property values have declined, borrowers may be required to increase their cash down payment by 5 percent. The lender will still make the loan, just not for as much as the borrower requested. This can pose a problem for borrowers who are cash-strapped. (more…)

search for : appraisal report

After reading “Affordable Remodel,” a new Taunton book by general contractor and Fine Homebuilding magazine contributor Fernando Pagés Ruiz, it makes sense that many contractors have, as a result of their years in the field, a unique intelligence about what makes economical sense in a remodel and what doesn’t. Many of the book’s suggestions are not just about space and construction but about design. One idea, pictured on the back cover, shows a fireplace faced with slate tile from the hearth to the mantle and then faux painted in similar hues from the mantle to the ceiling. You get the vibe of the stone all the way up to the ceiling, without the all-stone cost. If the book does fall short at all, it’s where nearly every other book like this fails, and that is by ignoring the consumer’s need to know how much things cost. (more…)

search for : Fine Homebuilding, faux paint

The numbers of people with homes to plunder has risen fast in recent years. But police and security experts say robbers are hitting homes more because their traditional targets — banks, stores and offices — have been hardened with closed-circuit video surveillance, alarms and guards. By comparison, security at many private homes remains lax, they say. Indeed, in several high-profile crimes, assailants gained access through unlocked doors. In other cases, home-alarm systems apparently weren’t turned on. Security and alarm experts say this is a surprisingly common mistake: Many homeowners lock their doors and set alarms only when they are away. (more…)

search for : closed-circuit video surveillance, alarm expert