Buying a home has gotten tougher in recent years, and finding affordable housing is an even greater endeavor, but the struggle is worth the effort. More than just a roof over your head, homeownership with solid neighborhoods in the mix can enhance the lives of families and their children and improve their futures. Some affordable housing strategies help families move to communities with stronger school systems and more education-supported environments. While frequent moves appear to have a negative impact on educational achievement, moves to better school systems (or to communities that offer stronger support for education) may have an independent positive impact on educational achievement.

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There are many different kinds of mortgage foreclosure scams. One is called a “fractional interest transfer” and here is how that one works. When a homeowner files for bankruptcy protection, the law provides for an “automatic stay.” That means that no creditor can take any legal action (including foreclosure) against the debtor without getting Bankruptcy Court approval. This is referred to as a “lift stay.” The home owner pays a monthly fee to the “foreclosure specialist.” In return, that specialist arranges to transfer a small percentage of the homeowner’s property to a person who is already in bankruptcy. According to a Bankruptcy Foreclosure Scam Task Force out of California, often the entity in bankruptcy is fictional. And while the homeowner cannot be foreclosed upon because of the automatic stay, in the end that consumer has conveyed some or all of their home to the scam artist.

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Condominium owners need a condominium owner’s insurance policy. It protects against negligence liability, such as when somebody is injured in the owner’s condo. The policy also provides coverage for fire or other damage to your furnishings, theft, accidents and damage to the interior of your condominium. The homeowners association carries a master insurance policy on the buildings and common areas. This policy provides liability coverage and for structural loss such as due to fire, wind, water damage (but not flooding) and other coverages.

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The Justice Department told Congress it is investigating several lenders over suspicions they charged minority borrowers higher mortgage rates than comparable white borrowers. The Federal Reserve has reported that 2005 loan-price data collected under the Home Mortgage Disclosure Act found 55% of African-American borrowers and 46% of Hispanic borrowers received costly mortgages, compared with just 17% for whites. The data didn’t take into account, however, whether borrowers who received more expensive loans also had worse credit histories.

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Setting the stage to position a home for sale or staging is a smart marketing move when it’s time to move a home in just about any kind of market. Home staging is to the interior of a home what curb appeal is to the exterior — nipping and tucking, furnishing and accessorizing, buffing and polishing until the place looks like a model home, without being clinical. But it can also include curb appeal. With just the right special effects, the effort can transform a home into a house of dreams and help potential buyers visualize potential. Done wrong and a home can become more like the set of a horror movie.

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Buying and flipping foreclosed homes can be profitable. However, novices need to tread carefully. Generally, homes in the process of being foreclosured can’t be inspected homes prior to auction. A home in need of major repairs could negate a bargain purchase. Because the owners are having financial problems, the home may be encumbered with hidden liens, back taxes, judgments or utility bills to pay. State and local rules vary concerning transferring the title (deed) upon sale of the property. Understanding the process before bidding and knowing the existing homeowners’ rights is necessary for a successful investment to occur.

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With apartment rents moving up in many markets renters are likely to find themselves facing a pinch in making their monthly payments. Twenty percent said they spend more than half of their monthly income on rent. Fees, including those for pets, laundry-machine usage, and cable television or telecommunications offerings, will impact a budget. Also renters should watch out for extra expenses like fees for lost keys, an extra parking spot, garbage pickup, or payment for using amenities like a gym or pool.

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This summer, in the face of record droughts and water shortages, communities from the Gulf Coast to Sonoma Valley are imposing unprecedented restrictions, and even outright bans, on lawn watering. They’re also stepping up enforcement — raising fines, sending out patrols, staffing hotlines and even shutting off service to repeat offenders. But to the most committed grass lovers, these restrictions have become a test of ingenuity. Some are creating personal reserves by digging wells or installing rainwater tanks. Others are pumping from backyard streams or using reclaimed sewer water that must be kept away from children.

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Just listed is this beautiful Wilkes County NC Log Home and Mountain Property.

MLS Number: 50863, List Price: $359,900

Bedrooms: 3, Full Baths: 2, Half Baths: 0, Est Total SqFt: 2600, Type/Style: Log Home, Area: Area 6, Middle School: Cntrl Wlks, High School: Wlks Cntrl, Construction: Log

Foundation: Combination, Roof: Metal Roof, Floors: Carpet/Hardwood/Tile, Garage/Carport: None-Garage, None-Carport, Interior Features: Master Bedroom, Main Level, Large Master Bedroom, Walk-In Closet(s), Hardwood Floors, Fireplace(s), Great Room, Exterior Features: Double Pane Windows, Wooded Lot, 1-5 Acres, Hot Tub, Subdivision: N/A, Lot Size: 2.47, Apx SqFt: 2600 – 2800 SF, Basement: None

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

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The cost of home ownership might be a lot more than you think, more than just the down payment or monthly mortgage payments. Although buying a home is a big investment, owning one comes with a new set of expenses you may not have had while renting or living with Mom and Dad. These extras can put a strain on your daily finances if you aren’t prepared. So to help you estimate your own cost of ownership and come up with a realistic housing budget, consider the expenses of property taxes, utilities, homeowner association dues, maintenance, lawn care, pest control and even any remodeling you might want to do.

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For an older deck that is discolored and that you intend to stain, your best bet is to use a product that is specially formulated for cleaning wood decks. Unlike older products that utilized chlorine bleach for cleaning, these newer-generation products clean the wood without lifting and damaging the wood fibers, and will not leave the wood unnaturally white. Cleaners such as Wolman’s DeckBrite are powdered and simply mixed with water. You can put it on with a roller, brush or garden sprayer, and it’s very effective in getting rid of stains and gray wood fibers. Products such as these also help open the pores within the wood so that the finish material will penetrate more readily.

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Individual Retirement Accounts aren’t restricted to just stocks, bonds, mutual funds, and the like. You can actually invest in a broad range of potential money-makers — including real estate. There are a number of rules to follow. For one thing, you probably can’t do this if your IRA is maintained through your brokerage or a bank. They prefer that you fill your IRA with items they sell. You’ll need a “self-directed IRA,” probably managed by an independent administrator. Other rules include a restriction that you not live in the property while it’s in your IRA — it should be an investment, not a home. You can rent it out and park the rental income in the IRA.

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Despite the housing market downturn, many homeowners are still paying a whopping 6% commission to real estate brokers. Although 6% may not sound like much, but with the average price of a home is $313,000, the average seller has to pony up nearly $19,000 in broker fees. This is a hefty penalty for selling your own home, one that more and more Americans are unwilling to pay. Many homeowners are now opting to market their property directly to the consumer using online real estate listing services such as Yahoo Real Estate, Trulia and Craig’s List.

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Most of the homes we’ve owned or lived in during our lifetime have had hardwood flooring. Our first home, a duplex in the Oakland, Calif., hills built by our dad and grandpa, had hardwood floors in the bedrooms. Kevin remembers sliding around the floor in his socks at age 5. If it’s just the floor acclimatizing, our recommendation is to do nothing and over a little time the squeaks should go away. If it’s loose nails, and with a 45-year-old floor we suspect this is the case, some re-nailing will be required. The job is simple and will cost less than $10. All you’ll need is a few four-penny finishing nails, a hammer, a nail set and a putty stick matched to the color of the floor.

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Most real-estate professionals say when it comes to actually enticing someone to buy a home, it’s the more practical perks that count. Effective sales incentives address what’s on the minds of potential buyers — the overall cost of the home and the monthly payments they’ll have to manage. Incentives can be considered when the home is first listed, as a way to distinguish it from the start. They can also be added when the home hasn’t sold in two or three months, as a way of enticing a buyer without lowering the price. Or the incentives could arise in negotiations, when a buyer needs that one extra little nudge to commit.

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• Beautiful and affordable NC Lakefront property near Boone NC
• Lakefront Lots on Kerr Scott Dam & Reservoir
• 18 Lots – 14 are Lakefront and meet private dock requirements.
• Gated community with Lots ranging from 2.3+- acres to 6.8+- acres.
• On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

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From choosing a great color that somehow turns hideously wrong to completing a paint job that looks gorgeous and then starts peeling, most painting mistakes trace back to a lack of prep work. Jumping the gun, starting without adequate planning is the most common mistake. Deciding you’ve got to buy the paint and paint this weekend. Don’t go shopping for paint intending to bring home paint that day. The best way to choose a color for your space is to start with an inspiration that is visual. It can be a rug or a photo from a magazine. In either case, you aren’t left trying to describe your idea of a color. You can simply point to it.

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The more time and effort you put into proper preparation, the easier your painting tasks will be and the longer the paint job will last. All of the steps involved in preparing a house for painting also require some precautions that are serious enough that they can’t be ignored. Eye protection is essential to guard against dust and flying paint chips, and you need to wear a dust mask or respirator for protection against dust inhalation while sanding. First, you need to complete any necessary repairs. If the weather has rotted or splintered siding or trim boards, for example, they need to be replaced or re-secured before proceeding. This includes repairs to windows and doors, weatherstripping, roofing and any other damaged areas. Don’t think that fresh paint over a cracked board is going to be the answer — you’re just asking for trouble down the road.

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When you’re buying a home, one of the last steps of the process is to conduct a final walk-through of the property. These walk-throughs are usually scheduled the morning of or the day before closing — after the seller’s furniture and artwork has been removed — to verify that the new home is clean and in move-in condition. However, sometimes buyers receive surprises when they see what’s behind the decor: faded floors, holes in walls or dirty rooms that can make a buyer balk at going through with the closing.

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Just listed is this one of a kind, 2.86 acre Main Channel, Waterfront Lot on beautiful W. KERR SCOTT LAKE in Wilkes County North Carolina.

Main Channel Waterfront.
2.86 acre Waterfront Lot.
Beautiful View of Lake.
Over 300 feet on main channel.
Wooded and Unspoiled.
Gated community and private, paved road.
Community water and underground utilities.
Has new dock, one boat slip and slip for two jet skis.
$359,000

Contact Greg Stikeleather, Broker, 704.880.5247 or email Greg at grstike@charter.net

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More than two million subprime adjustable rate mortgages (ARMs) are poised to reset at much higher rates in coming months, worsening an already suffering housing market. Borrowers who took out hybrid ARMs in 2004 and 2005 to secure low “teaser” rates for the first two or three years of the loan may see their monthly mortgage payments climb by 35 percent or more. A buyer in 2005 with poor credit and limited means might have signed on for a $200,000 2/28 hybrid ARM, locking in a fixed rate of 4 percent for two years. After paying $955 a month, his bill would now be set to spike to $1,331, a 39 percent increase.

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Putting the home on the market before it’s ready. Most times this happens because the seller gets impatient or is a procrastinator and has pushed himself up against a moving deadline without getting the pre-sale work done. So it comes on the market with the horrible carpet (that gets replaced during the marketing of the home); or they are painting it while it goes on the market. Presentation is everything — so get the work done before marketing the property. Over improving the home for the neighborhood. This happens with additions, bump outs, and upgrades that make the home stick out from among its competitors so much that it’s an anomaly, instead of a nice addition to the community.

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The price is now right to light your home with energy-efficient compact fluorescents. A number of retailers are offering “compact fluorescent lamps” or CFLs in multiple-unit packs for a fraction of their former price. At Home Depot, for example, a pack of four 13-watt CFLs — providing the same illumination as a standard 60-watt bulb — currently costs $7.97 or less than $2 each. Five years ago, a single bulb cost $7.97. CFLs can be cheaper than traditional bulbs when the CFLs’ longer lives are factored in — and the savings is multiplied by the CFLs’ stingy energy consumption.

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As crucial as good solar orientation is to the livability of indoor rooms, it’s absolutely indispensable to the “rooms” you create outside. An interior room that, for whatever reason, is not blessed by sunshine can at least be given the illusion of natural comfort by being heated. An outdoor space has no such recourse. If it’s not warm and inviting by nature, it simply won’t get used, no matter how elaborate its design. Although this seems like common sense, hardly a day goes by that I don’t see projects new and old being outfitted with artfully designed patios, terraces, decks, or balconies placed on the shadowed north side of buildings

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Realizing that profitable rental houses are long-term investments for at least five years, your might be considering the advantages of such investments. Your list of benefits will likely include probable appreciation in market value, income tax shelter, maximum leverage to control the property with little cash, tax-free and tax-deferred sales benefits and pride of ownership. Sound property management techniques minimize the risk and hold repair costs down by providing tenant incentives to avoid damaging your rental houses.

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If your hopes include a green lawn, the key is frequent cutting, which forces it to grow thick and keep out weeds. Keep mower blades sharp so the grass isn’t beat up and made vulnerable to disease. Mowing high forces grass roots to grow deep, says Roch Gaussoin, Extension turf grass specialist at the University of Nebraska-Lincoln. The deeper the roots, the better it will resist disease and the less water it will require. Your lawnmower’s owner’s manual will explain how to change the blade height.

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For some investors, the recent downturn in the housing market looks like opportunity. Some of the most aggressive of them go after foreclosures, homes that people have lost after they’ve fallen behind on mortgage payments or taxes. Foreclosure investing may be right for someone with a secure job, solid cash flow and lots of cash on hand — someone who wants to make some money on the side. If you’re married, your spouse needs to be on board, too. Investors need to use their own money. But if you don’t have enough cash but you’re willing to do the work, find a partner.

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If you are early in your career and you expect sizable pay increases in the years ahead, you may want to stretch to buy a somewhat larger house. After all, if you purchase a place that you quickly become dissatisfied with, you could soon find yourself trading up to a better home. That will mean forking over a 5% or 6% selling commission, mortgage-application costs, lawyer’s fees, moving expenses and more. Don’t, however, misconstrue what I am saying. I am not endorsing the contention that real estate is the best investment you can make, that you should buy the largest house possible or that you should take out the largest mortgage possible.

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Self-directed IRAs are billed as “putting the ‘I’ back in IRA.” They let individuals determine what, when, and where to invest their retirement money. And they are catching on — in no small part thanks to the stock market’s volatility and the real estate market’s recent riches. Investments in other things, most notably real estate, are fully permissible under the Employee Retirement Income Security Act of 1974. It prohibits retirement plans from investing in just two types of investments — life insurance contracts and collectibles. Everything else is fair game.

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U.S. bank regulators Friday tightened standards for mortgage lending in a bid to curtail risky practices that have been blamed for a record level of foreclosures. Borrowers should not be penalized for refinancing a mortgage before a low introductory rate resets to a higher level and lenders must have evidence a borrower can repay, according to a statement of principles issued by the regulators. As the housing market has soured, many of those borrowers fell behind in their payments and a record portion of borrowers faced losing their homes in the first three months of the year. Many of the biggest lenders to subprime borrowers have been pushed into bankruptcy.

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