The decline in property values, homeowners relocating after bankruptcy, and dwindling revenues from investment portfolios are causing local governments major headaches. It’s easy for a typical consumer to understand the revenue angle directly attributable to the first two, but what many fail to realize is how poor investment decisions from local officials can affect the services taxpayers receive for their tax dollars.

Nearly every state runs some kind of government investment pool offering city, county and state governments a seemingly reliable place to park their cash. Government officials say these funds are attractive because they offer better yields and lower fees than the typical bank account. Many of these funds are invested in subprime-related securities.

The consequences of a government fund losing money can have a direct impact on local counties, towns or schools. Over time, a municipality might have to raise taxes or cut spending if it loses access to some of its cash. Governments inability to withdraw funds from a Local Government Investment Pool can even cause a school district to bounce checks to its vendors in order to pay its teachers.

Finance experts say the situation is nearing epidemic proportions as the subprime mess gets worse.

click here for article

search for : decline in property values, subprime-related securities, raise taxes

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

click here for more information

When thinking of remodeling your second home or condo forget the pricey add-ons, unless you are bringing it up to modern standards by adding a second bath to a one-bath house, or a third bedroom to a two-bedroom house. Instead, stick to inexpensive cosmetic upgrades, like new paint and siding. For kitchens and baths, buy stock cabinets and faucets, rather than custom, and stay away from items that are easily damaged, like glass vessel sinks and fragile chandeliers. I also suggest purchasing mid-range rather than top-of-the-line appliances. Should you decide to sell buyers don’t expect the same levels of quality in casual second homes that they do in primary ones, though they do appreciate having everything fresh and new. (more…)

search for : remodeling your second home

The last thing you need is an expensive, unseen surprise after purchasing your home. Unfortunately, most things that can go wrong with a house most often result in major expenses. Replacing a hot water heater, will cost you $600 or more. Or, if you have to replace your furnace or central air conditioner, you could spend twice that amount. Even seemingly small problems, such as burst pipes, badly wired outlets or cracked paint, can have a major impact on your budget. That is why it’s so important for home buyers to have a professional home inspector do an thorough inspection of the house from foundation to roof, including all the mechanical systems. (more…)

search for : home inspector

Prospective home buyers look at your home for the outside and decide within the first 15 seconds if they are interested in buying. Yes, the clock starts ticking at the curb, even before the buyers enter your home. Smart sellers make their home more appealing by “staging” their home. Staging means making a home as appealing as possible, as quickly as possible, to the broadest clientèle possible. Staging takes some time, effort and a bit of money. Unlike decorating, staging is all about paring personal decoration. Because the driving idea behind staging is to let people imagine themselves living in your home, staging presents an appealing “blank canvas” from which the buyer can envision adding their personal decorating touches. (more…)

search for : staging

Mortgage rates have fallen precipitously with rates on 30-year mortgages dropping to the lowest level in more than two years. Freddie Mac, a stockholder owned corporation chartered by Congress, has reported that the 30-year, fixed-rate mortgages averaged 6.10 percent. That was down from 6.20 percent and was the lowest rate since the week of Oct. 13. 2005, when rates stood at 6.03 percent. Two factors seem to be driving-down the rates 1) increased worries that a severe slump in housing and a continuing credit crunch could drag the economy into a recession and 2) the recent turbulence in stock markets, prompting many investors to rush to the safety of U.S. Treasury securities, driving down the yields on bonds. (more…)

search for : Mortgage rates, 30-year mortgages

Visit your local home building center and you will l probably be surprised at how the different styles and variety of doors currently available. Add to that the thousands of possible door styles, sizes and jamb combinations you find in the catalogs and you quickly discover that there is an overwhelming number of choices. Those in the market for new and replacement doors are confounded by the seemingly endless variety. One of the most common (and least expensive) is the hollow core door. This type has two flat or formed panels on the outside faces, which are attached to a wooden frame around the door’s perimeter. Inside the door, between the perimeter frame pieces, are pieces of wood, cardboard or other material placed on edge to help stiffen the panels. Hollow-core doors are used for interiors only, and are less expensive than solid-core doors. (more…)

search for : home building center, replacement doors, hollow core door