A recent survey released by Trulia, a real estate search engine, community forum center and reporter of market trends and data, found that a “crisis of confidence” exists among key groups of U.S. homebuyers.

Not surprisingly, much of the lack of confidence in the real estate market stems from the mortgage fallout, the instability of the real estate market, uncertainty of economic times, and the upcoming election.

According to the survey, which included about 1,500 respondents, 70 percent of non-homeowners have no plans to purchase a home in the next 12 months and nearly half in the 18 to 34 age group say the reason is because it s too costly. While those in the 35 to 44 age group are concerned that they might not be able to qualify for a home loan. The survey also found that only 12 percent of the non-homeowner respondents said they expect to buy a home in the next 12 months. (more…)

The housing bust has not ended mortgage fraud – hucksters are just finding new ways to make dishonest bucks. The number of fraudulent loans issued during the second quarter this year increased 45%, compared with the same period in 2007, according to the Mortgage Asset Research Institute (MARI), a service of LexisNexis.

The group counts as fraud any misrepresentation intended to get a better deal on a mortgage or a home sale. During the boom, that might have meant a buyer who inflated his income to qualify for a bigger loan. Some went so far as to get a fake appraisal, invent a fake buyer, and after securing a mortgage, absconding with the cash. (more…)

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

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

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

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

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Outdoor living is becoming more popular as indoor living space is shrinking and becoming an extremely high-cost premium. But what gives your home a fiery spark to send buyers rushing to write an offer? Perhaps, bringing the comforts of indoor living outside may help. Outdoor fireplaces create a visual focal point and are often a quality of the home that attracts buyers. “This is a great way for people to warm up and gather around. They’re very well engineered,” says Peter Ross, CEO of Home & Hearth, Inc.

Ross is referring to pre-built outdoor fireplaces. “What you end up with is basically a hand-made stone fireplace that comes in four sections and you can set it up in your yard in your garden or on a patio,” explains Ross. They create an attractive landmark in a backyard that can easily help to influence buyers to choose your home especially in areas where being outside at night would not be an option unless an inviting fireplace could warm up guests. (more…)

The [tag]Jacob’s Ridge[/tag] community features 5 lots on [tag]W. Kerr Scott Dam & Reservoir[/tag]. All lots are lakefront and have access to public water, saving owners from $5,000 to $10,000 on drilling a well.

The entire development also features underground utilities. The lots are clustered around a “dead-end” cul-de-sac on a private road. Currently, the owner is offering $10,000 cash rebate to buyer!

Driving directions are 421 North from Wilkesboro NC towards Boone, turn left on South Recreation Rd., then right on Rocky Point Rd. Look for the sign at Nicole Ln., then turn right on Jacob’s Way.

[tag]W. Kerr Scott Lake[/tag] is 1500 acres with 50 miles of shoreline and is controlled by the US Army Corps of Engineers. It is clean water with good fishing and is excellent for boating, kayaking, skiing, and swimming. The property is surrounded by National Parks. [tag]Wilkesboro NC[/tag] is a beautiful community and town with friendly people. It is located just 40 miles east of [tag]Boone NC[/tag] and [tag]Blowing Rock NC[/tag] and one and a half hours northwest of Charlotte.

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

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If you’re planning to buy investment property and financing it through a lender who sells to Fannie Mae, keep the date December First in mind. Nail down your mortgage commitments quickly — in the next six weeks if you can.

That because Fannie — who’s traditionally been a key source of funding — plans to load on extra fees across the board for investor loans purchased after December 1st because of market conditions. Freddie Mac is imposing similar fees, but its increases take effect November 7th.

Making things even tougher, some large private mortgage insurers plan to stop underwriting investor loans altogether, effectively cutting off financing support for low-downpayment, high leverage rental home deals, no matter where the property is located. (more…)

$5,850,000

MLS Number: 50913

City: [tag]Valle Crucis, NC[/tag]
Stories: 2
Bedrooms: 4 Baths: 4.5
Area: Boone-[tag]Blowing Rock, NC[/tag]
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 [tag]Blue Ridge Mountains[/tag].

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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The $700 billion bailout legislation now under consideration by Congress calls for the Treasury Secretary to implement a plan to stem foreclosures by working with servicers to modify loans.

But many housing experts question whether the bill will help struggling homeowners refinance into more affordable mortgages. They stress that the economy won’t recover until the tide of foreclosures stops, and the million-plus foreclosed homes on the market find buyers. (more…)