Developments And Communities Blog

Cash Is King in Today's Distressed Marketplace

2011-03-25T07:13:00.000-04:00

For many homebuyers, mortgage financing is hard to come by these days. Lenders have tightened up credit requirements in an about-face from the lax lending of pre-crisis days that put people into mortgages they couldn’t afford and fueled record-high delinquencies.

Evidence of constricted mortgage credit was highlighted in the latest HousingPulse report from Campbell Surveys and Inside Mortgage Finance as cash transactions set a new record, accounting for 33.7 percent of home purchases in February.

A separate study conducted by the National Association of Realtors (NAR) shows the same trend. NAR also found that all-cash sales were a record 33 percent in February. By comparison, they were 27 percent in February 2010, according to NAR’s historical data. Read more:

Cash Is King in Today's Distressed Marketplace

10 Tips for Posting on Your Brand's Facebook Page

2011-03-23T17:24:00.000-04:00

Once your brand is on Facebook, the question becomes: How you engage those fans and sustain a meaningful online dialogue with your customers. Facebook fans will only want to engage with us if we serve up relevant content and truly participate. We also forget about EdgeRank — Facebook’s News Feed algorithm that helps display “relevant” stories. The News Feed only displays a small subset of stories generated by the friends and brands users engage with the most. The more popular your story, the more likely it is to show up in people’s News Feed. News Feed optimization becomes as important as your content strategy. Read more:

10 Tips for Posting on Your Brand's Facebook Page

What Buyers Want in Homes Today

2011-03-18T06:39:00.000-04:00

Buyers have a long list of what they want when home shopping, but one of their biggest desires: A good deal.

'And no matter where a seller prices their property, they're looking to negotiate,' says Patricia Szot, president of the MetroTex Association of REALTORS®.

But that’s not all they want. Bankrate.com recently asked real estate professionals to chime in on the top desires of their buyers when home shopping. Here are four things that made the list of top home buyer preferences:

1. Homes that are in good condition. 'There's not a lot of flexibility in that,' says Ron Phipps, president of the National Association of REALTORS®. Many buyers now take the attitude: 'I'd rather spend the money getting into the house' and not have to spend more money later, Phipps says. One of the major reasons is that 'buyers have limited amounts of cash,' he adds. 'Even if they want to do a fixer-upper, they don't have the money to do it.'

Read More: REALTOR® Magazine-Daily News-What Buyers Want in Homes Today

Research Firm Says U.S. Housing Has Never Been This Undervalued

2011-03-11T08:59:00.000-05:00

The continuing depreciation of residential property values at the end of last year has made housing look more undervalued relative to income than ever before, according to analysts at the research firm Capital Economics.

Read More: Research Firm Says U.S. Housing Has Never Been This Undervalued

Existing home sales inch up in January - Feb. 23, 2011

2011-02-24T08:29:00.000-05:00

Sales of existing homes recorded modest gains in January, the third straight month of month-over-month increases.

According to the National Association of Realtors, homes sold at an annual rate of 5.36 million in January, up 2.7% from December and 5.3% higher than January 2010 sales. At the same time, the median home price fell 3% to $158,000, compared to a year earlier.

Read More: Existing home sales inch up in January - Feb. 23, 2011

Real Estate Steals in South Florida (video)

2010-11-01T11:02:00.000-04:00

'Worst is over' for housing, analyst says, as Aug. sales rise

2010-09-23T19:09:00.000-04:00

By Stephanie Armour, USA TODAY

Sales of existing homes rebounded slightly in August after a record drop the month before, an indication that the worst may be over even though the housing recovery still is on shaky ground. Existing home sales climbed 7.6% to an annual rate of 4.13 million units, according to a report Thursday by the National Association of Realtors (NAR). But the pace is still weak, 19% below the 5.10 million-unit pace in August 2009.

Sales had plummeted 27.2% in July to the lowest level in 15 years a seasonally adjusted annual rate of 3.84 million units. The drop is largely attributed to a decline in home purchases following the expiration of a federal home-buyer tax credit of up to $8,000. Looking ahead, economists say Augusts' increase in existing home sales may be a sign that home sales will slowly pick up over the next year.

"This report is only good in the context of the incredibly bad report last month," say Mark Zandi, with Moody's Analytics. "But last month will be the low point in the cycle. When we look back years from now, it will be the bottom. The worst is over."

Read more.

2010 Blog Cabin Sweepstakes

2010-09-10T19:08:00.001-04:00

DIY Network's crew of home improvement experts built the cabin you helped design. One lucky winner is going to call it home. You may enter once a day through OCTOBER 1, 2010.

For official rules and to enter, click here.

Big Brothers Big Sisters of Western North Carolina Raffles Off a Log Cabin in the Smoky Mountains, Tickets Just $100 Each

2010-08-06T13:29:00.002-04:00

Big Brothers Big Sisters of Western North Carolina Raffles Off a Log Cabin in the Smoky Mountains, Tickets Just $100 Each

ASHEVILLE, N.C., July 27 /PRNewswire/ -- Big Brothers Big Sisters of Western North Carolina announced today that the organization is raffling off a Log Cabin in the Great Smoky Mountains of Bryson City, North Carolina. The holder of the winning raffle ticket will take possession of this beautiful Smoky Mountain Cabin, a fully furnished 2 bedroom 2 bathroom Log Cabin with custom hardwood floors, granite countertops, hot tub, pool table and a rocked fireplace. Proceeds from the 1st annual Smoky Mountain Cabin Raffle will benefit Big Brothers Big Sisters of Western North Carolina in its continued effort to recruit, screen, train and support caring adults who want to make a difference in the life of a child.
A limited number of raffle tickets will be available for purchase from July 16, 2010 through the October 7, 2010 deadline on our specially created event website at www.LogCabinRaffle.org The Grand Prize Drawing will take place on October 14, 2010 and will be open to the public. The Smoky Mountain Cabin Raffle will also include bonus drawings throughout the three-month event. Designed to incentivize early ticket purchases these bonus drawings include a one-week stay at a cabin provided by Hidden Creek Cabins, a Whitewater Rafting trip for 4 down the legendary Nantahala River provided by Paddle Inn Rafting and a $1,000 cash prize drawing.
"The Smoky Mountain Cabin Raffle was created as an innovative way to raise significant funds for children and mentors," says Robin Myer, Executive Director. "We are thrilled to present this Smoky Mountain Log Cabin as the Grand Prize of our raffle. It's a beautiful cabin in the mountains overlooking one of the country's most spectacular views. Raffle participants can give back while also having the exciting chance to win a beautiful custom log cabin in the Smoky Mountains."
"Some kids wait more than 9 months to be matched with a Big Brother or Big Sister stated J. Clarkson, Director of Development for Big Brothers Big Sisters of WNC. "It takes time to recruit, screen, and train a caring adult to be a "Big" and the funds raised from this raffle will allow us to dedicate more staff to that effort and still give professional support to the mentoring relationships already in place. In the end, this means more children will have the opportunity to experience the difference that a Big Brother or Big Sister can make."
For more information about Big Brothers Big Sisters of Western North Carolina please visit their website at www.bbbswnc.org and for more details on the "Smoky Mountain Cabin Raffle" please visit www.LogCabinRaffle.org

Press Contacts
Info@LogCabinRaffle.org
Mary Anne Baker (239) 898-1662 info@LeisureLinx.com J. Clarkson (828) 253-1470 jc@bbbswnc.org

Vacation-Home Sales Up in 2009 but Investment Sales Down

2010-04-15T13:33:00.000-04:00

(March 31, 2010) – Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of Realtors®.

NAR’s 2010 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2009, shows vacation-home sales rose 7.9 percent to 553,000 last year from 513,000 in 2008, while investment-home sales fell 15.9 percent to 940,000 in 2009 from 1.12 million in 2008. Primary residence sales rose 7.1 percent to 4.04 million in 2009 from 3.77 million in 2008.

Read more...

Top 10 Places for Second Homes

2010-03-08T21:08:00.001-05:00

AT LONG LAST, THE MARKET FOR LUXURY REAL estate is coming back to life.

Prices for primary residences, which plunged at least 20% from the peak in 2007, appear to have bottomed. In some of the snappiest locations, scattered bidding wars are breaking out and prices are turning upward.

In Greenwich, Conn., realty brokers say, the final months of 2009 were almost record-setters for sales volume, as two years of pent-up demand was unleashed. Even the megadeal is back. In Beverly Hills, film producer Jeffrey Katzenberg just plunked down $35 million for an 8,700-square-foot home on six acres.

There's nothing like a stabilized economy and a huge rebound in stocks to send folks looking for the perfect manse. The return of hefty Wall Street bonuses hasn't hurt, either.

With all that in mind, and with summer just around the corner, Barron's sized up the market for upscale second homes, one of the greatest luxuries of all. We scoped out dozens of deluxe enclaves across the country, speaking with brokers, homeowners and others. Our conclusion: Now could be an excellent time to buy.

Prices are way down -- 40% off the peak in some locations. Seemingly at or near bottom, they are starting to attract the first wave of bargain hunters -- and not just families in need of R&R. Hard-nosed investors also are on the prowl, says Jan Reuter, head of residential real estate at U.S. Trust Bank of America Private Wealth Management: "We've seen an uptick in buying in just the last couple of months."

To help you in the hunt, Barron's has selected the 10 best places in America for second homes. These alluring locales have it all: gorgeous houses, spectacular views, world-class golf, fishing and skiing, fine dining and great shopping. You'll find the complete range of lifestyles, from peaceful and easy to vigorously social.

Read the full article or click here for the video.

A Solid Development in Western North Carolina

2009-12-05T13:16:00.001-05:00

A solid North Carolina developer looks to end 2009 on a positive note with continuing sales and construction momentum. The Headwaters at Banner Elk is the top selling community in the Banner Elk area. Including condos, cottages and custom homes, The Headwaters has 31 completed residences with another six under construction. Its newest town home neighborhood, the Lakeside Villas will be released for sale in the coming month. These will be side by side town homes featuring two and three bedroom plans as well as attached garages.

"Headwaters has had a great fall selling season.” says developer John Haynes, “Buyers realize that we are on secure footing, and with reduced building costs this a great time to buy.”

With six community parks, two lakes, miles of professionally built trails and a mountaintop clubhouse unequaled elsewhere, it is understandable why The Headwaters continues to set the standard by which all other communities are compared.

To encourage you to visit The Headwaters, a Discovery Package is available for just $99 per night plus tax. Stay on the property in a three bedroom, three bath luxurious condominium. Contact for details.

Golfing in the Blue Ridge Mountains

2009-11-23T15:52:00.003-05:00

Surrounded by the majestic beauty of the North Georgia Mountains and featuring 6,536 yards of dramatic fairways, Butternut Creek Golf Course is one of the area’s finest public golf courses. Experience the thrill of playing this mountainside course with 18 of the best holes in the northeast Georgia area.

Just 20 miles north over the North Carolina border is the small town of Murphy with its forested mountains touching the sky, its sparkling lakes and crisp clean air, provides rustic small town American charm. The mountain community of Wilderness Creek Falls warmly welcomes visitors with its gently rolling hills and spectacular views. A true Blue Ridge mountain "best kept secret" with captivating charm and privacy, Wilderness Creek Falls is a special place to see.

Tide is Turning in Florida's Real Estate Market

2009-09-05T09:00:00.003-04:00

The recent drop in property values in Florida has affected the pocketbooks and retirement funding sources for many Floridians. Those who want to sell their property at today’s market value are competing with a multitude of foreclosure sales. For those Floridians who have their property on the market, they are finding a very long wait on the market or are holding off on listing their Florida property while the foreclosures work their way through the system. This has created a very strong pent-up demand by these prospective sellers seeking to buy real estate with the proceeds from their current Florida property. As the economy continues its slow but steady recovery, and real estate resumes it’s normal pace, a new wave of Florida buyers will emerge.

Real estate sales in other locations across the Southeast U.S. have been affected by the economic recession over the last two years, however the declines have been minimal compared to Florida. There has been some renewed interest from Floridians in real estate outside of Florida, who are starting to see a light at the end of the tunnel with the depressed real estate market. Many Floridians have come to accept their economy-adjusted Florida property values and are now more anxious than ever to make a move once their Florida property sells, regardless of their financial losses.

Is the Housing Market Recovery Near?

2009-05-25T14:23:00.002-04:00

Encouraging signs abound as the U.S. housing market appears to be on the verge of emerging from one of the worst real estate markets. A surge in sales activity was reported in many areas in the past three months; first-time buyers continue to bring vitality to the marketplace all across the country; buyers with good credit are able to get mortgage financing; inventories of unsold homes are flat or decreasing in many areas, and listings with the lowest prices in nearly a decade are being cherry-picked in many communities.

Even repeat buyers are starting to leave the sidelines. Many real estate agents report that they are using the government’s $8,000 tax credit incentive for first-time buyers as an effective marketing tool. The credit – which expires on November 30 of 2009 – can be claimed on the purchaser’s tax return and does not require repayment unless the home is resold within three years. Every dollar of the tax credit reduces income taxes by one dollar. A person is considered a first-time buyer if he/she has not had an ownership interest in a home for at least three years.

It's A Buyer's Market in Florida

2009-02-17T16:22:00.002-05:00

Recent property sales that continue to lag in Southwest Florida are following a local and national trend. It's a buyer's market, and it's all about price. According to the National Association of Realtors (NAR), existing home sales increased 4.7% in February over the previous month, with activity concentrated in lower price ranges. Because buyers are shopping for bargains, distressed sales accounted for 40% to 45% of transactions in February. NAR also reports that sales activity remains relatively soft, reflecting additional layoffs, and buyers waiting for housing provisions in the economic sitmulus package to take effect. NAR's analysis shows that distressed homes typically are selling for 20% less than the normal market price, and this naturally is drawing down the overall median price. The bottom line is that the real estate market must cleanse itself in order to improve.