$5,850,000

MLS Number: 50913

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

39.4 acres with 360 degree view of Blue Ridge Mountains.

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

No restrictions and no zoning offer many other options:

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

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

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

Homeowners facing foreclosure have several options for saving money, their credit rating or their home. But of more importance is that these same folks need to be wary of foreclosure scams. Even when declaring bankruptcy, avoiding a foreclosure can salvage your ability to rebuild credit and buy another house, which makes the struggle against a possible foreclosure very much worthwhile. Two immediate options available to all mortgage holders are 1) sell the property and 2) work out a deal with your lender. Almost always, your lender will be willing to work with you, rather than lose money at a foreclosure sale. By all means, do not sign over your property title to another company. Some companies say that after the mortgage is current they will re-sign the property back over to you. This rarely happens. Instead, the company is likely to pull out equity, not make any mortgage payments and allow the property to be foreclosed. You will not be able to save the property from future foreclosures because the property is no longer in your name. (more…)

search for : foreclosure, foreclosure scams

Typically, a Home Ownership Accelerator loan program (sometimes referred to as an HOA) can be used as if it were a checking account. A borrower’s paycheck, instead of being deposited in a bank account to earn little or no interest, pays down the mortgage balance. The borrower thus earns the mortgage rate starting the day of deposit. As the borrower spends money by writing checks, withdrawing cash from an ATM or using a bill-pay service, the mortgage balance rises. Even if the balance at the end of the month is the same as at the beginning, the average balance and therefore the interest charge is lower. Both an HOA and a home equity line of credit (HELOC) accrue interest daily, and adjust the interest rate frequently, monthly on the HOA, anytime on the HELOC. Borrowers can draw up to a specified maximum amount at any point during an initial 10-year draw period, with repayment required over the ensuing 20 years. (more…)

search for : Home Ownership Accelerator, HOA, home equity line of credit

An expected surge in home foreclosures will cause U.S. property values to sink by $223 billion, with the most severe impact in minority communities, a new report says. The report released Tuesday by the Center for Responsible Lending estimates that roughly one in three households will see their property values drop by $5,000 on average as mortgages made to borrowers with weak credit in 2005 and 2006 reset at higher interest rates, accelerating the pace of foreclosures. (more…)

Lenders are making it a lot easier to buy a house without the traditional 20% down payment, but you’re going to pay a lot for that option. If you borrow more than 80% of the home’s value, you’ll usually have to pay private mortgage insurance, which protects the lender if you default on your loan. That tends to cost 0.5% to 1% of the loan value, up to $3,500 per year on a $350,000 home, or $5,000 on a $500,000 home. It’s money that doesn’t go toward your principal or interest. If you wait to accumulate the 20% down payment, these extra costs can usually be avoided. You may also qualify for a lower-rate loan and keep your mortgage payments much lower, which gives you a lot more flexibility in the future. (more…)

Experts now agree that a lot of mortgages shouldn’t have been made in recent years. It was foolish for lenders and homeowners to bet housing prices would keep rising. But allowing millions of foreclosures to punish the imprudent isn’t smart. It’ll damage entire neighborhoods. “It’s not like ‘repo-ing’ cars, where you can move them around,” says Richard Syron, chairman and chief executive of mortgage giant Freddie Mac. An empty house loses 20% of its value in six months, he says. Even worse, the larger economy is at risk. Cue Federal Reserve Chairman Ben Bernanke: “A sharp increase in foreclosed properties for sale could weaken the already struggling housing market and thus, potentially, the broader economy.” (more…)

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Beautiful Wilkes County NC Timber Frame Home and Mountain Property.

MLS Number: 51166, List Price: $898,500

2 Bedrooms, 2 Baths, 2 half baths, 2 car attached garage, full basement, and a barn on 5 acres of land.

These terms are used to describe thousands of homes and yet some things just can’t be described, they have to be experienced. This is one of those homes that really has to be seen to be appreciated.

This majestic Timber Frame home of the Bob Timberlake genre is not just another house, it provides a feeling of home that is not about walls and floors and windows and doors. It creates a feeling of the flow between your outdoor and your indoor environment that is seamless. Everywhere you look there is a view. Everything you touch feels natural and beautiful in a way that cannot be described, only owned.

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

click here for more information

In a growing percentage of cases, government-linked bodies are the ones putting up the cash for home loans and taking the risk that a borrower won’t pay the money back. Private enterprise’s role is narrowing in many instances to the job of arranging loans, providing the initial funding until the loans can be sold, and handling the monthly paper work. For home buyers, the renewed dominance of government-related entities means the end of the era of endless choice and easy approvals on mortgages. Borrowers now generally must meet tighter standards familiar from earlier years, such as proving their income and making a down payment of 10% to 20%. (more…)

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