Good credit is the number one determining factor that will convince a lender to offer you the best mortgage interest rate, at the principal amount you want. Mortgage lenders look to your ability to repay a loan, your history of credit debt repayment, the likelihood you’ll make timely payments (as indicated by past payment history), the amount you will put down on the loan, and the value of the home. Lenders analyze your credit scores (FICO) and credit history, the loan-to-value ratio of the desired loan and your (total) debt-to-income ratio.

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search for : Good credit, mortgage interest rate, credit score

We all seem to have more stuff than ever before and a lot of that stuff gets crammed into the closets. Then when you list the home on the market, and buyers come to have a look, they reach for a closet door and are greeted with an overstuffed, unorganized mess. The prospective buyers don’t see your valuables as prized possessions; instead what they see too little space closet space. Buyers have trouble picturing their belongings in a home that’s filled with clutter. Savvy agents will recommend organizing, not just the space you see immediately upon entering the home, but also all the closets in the home.

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search for : too little space closet space

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

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Congress gave homeowners facing financial distress some good news last week. The House of Representatives overwhelmingly approved legislation that would end the controversial practice of imposing federal income taxes on borrowers whose mortgage lenders forgive a portion of their debt as part of a pre-foreclosure short sale arrangement. The House-passed bill (HR 3648) would prohibit income tax levies on home mortgage debt discharges. Similar legislation is pending in the Senate (S 1394). The House bill is retroactive to Jan. 1, 2007, thereby assisting borrowers who received debt relief any time this year, and in future years. It would not apply, however, to transactions closing in 2006 or earlier.

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A recent spike in foreclosure filings is helping self-storage facilities here thrive like never before, according to those who manage them. Many self-storage facilities are near capacity. Thousands of units are filled with furniture, appliances and decorations owned by people whose mortgages are in default — and those in the industry are hoping it stays that way. When people are in need of space, the cost is usually not a major concern. Storage unit operators say that most people don’t fuss about price. People say they’re going to stay one to two months but most people stay seven to eight months. Once it’s out of sight, it’s out of mind. They come and pay their rent and say they’re going to get it out but never do.

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search for : foreclosure, Storage unit operator

With pending home sales at a six-year low and home prices flat, people are no longer willing to sink as much money into their kitchens as they were during the boom. Spending on kitchen renovations costing more than $20,000 was $53.4 billion in the year ending August 2007, a 40% drop from the same period a year earlier. For people who bought at the top of the market, having little or no equity to borrow against means having to tap other sources. Also trouble for the home-renovation industry: Money is drying up for people seeking home-equity loans or lines of credit to finance projects.

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search for : pending home sales, home-renovation, home-equity loan

For decades solar energy use was largely confined to a small fringe of diehard conservationists. And their sole option was typically a “solar thermal” system that stores heat from the sun to warm pools or appliances. But these days, solar power is going mainstream in many more homes, helped along by a proliferation of new solar technology like cheaper photovoltaic cells and new solar-powered gadgets.

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search for : solar technology, photovoltaic cell

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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In many communities, where homes, condos, or apartments are in close proximity, nuisances are bound to annoy neighbors. Noise is the most common complaint followed closely by odors, health and sanitation issues, cigarette smoke and curb appeal. Some nuisances are clear violations of law and should be handled by law enforcement. Among these are domestic disputes, out of control parties, abuse of alcohol and use of illegal drugs should all be directed to law enforcement. These are not situations that neighbors or boards are prepared to deal with and there is a chance attempts to do so could escalate to physical altercations. The complainer should be directed to call the police immediately.

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search for : annoy neighbors, Noise, cigarette smoke

Even though the number of foreclosures is at the highest since the Mortgage Bankers Association began keeping records in 1979, they are concentrated in a few states and still represent fewer than 2 percent of all mortgages. And while foreclosures can be deals, not all are bargains. Pitfalls vary. The likelihood of making money on foreclosures has not necessarily increased with the rise in foreclosures. Certainly bargains exist, and the occasional unsophisticated buyer has gotten a great deal in the past, fixed the house up, lived in it and sold it several years later for great profit. But making money in foreclosures can be trickier now that the market has soured because prices have not yet bottomed out in some regions.

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search for : foreclosures, making money in foreclosures