Century 21, Durham, NC Joyce Bliss REALTOR® 919-308-1215

What the REALTORS President had to say!!

Thu, 02 Feb 2012 22:30:00 +0000

http://realtormag.realtor.org/news-and-commentary/nar-president/article/my-pledge-stand-you?cid=WR02012012:41356&ed_rid=1913927

Tips for buyers and sellers

Thu, 27 Jan 2011 16:29:00 +0000

Report of Favorite Cities

Mon, 12 Jul 2010 14:58:00 +0000

Every month a new publications come out designating certain cities as their favorites. Ever wonder how they come to this conclusion? I am sure they have guidelines to pick the cities. However, do they get into the Family mindset. All areas have merit. All areas have family roots.

Well, I am saying the Durham, Orange, and Person county areas are the best. What guidelines am I using? I am using family, trees, farms, schools, people and being between the mountains and the coast. What more could you ask for. Check out Durham, Bahama, Rougemont, Hillsborough, Timberlake and Roxboro. Call Joyce with any questions. 919-308-1215

Conserve Electricity

Mon, 12 Jul 2010 07:23:00 +0000

Small habits can add up to big savings when it comes to electricity.

As the summer heat soars, so do many homeowners’ electric bills. Here are some savvy tips on how you can start saving both your cash and the environment.

1. Get Unplugged. You may think that simply turning a device or appliance off is enough to stop the flow of electricity, and the subsequent flow of money out of your bank account, but any item plugged in to an electrical outlet is drawing a small amount of electricity. So, unplug all of your items.

2. Swap it Out. Replace conventional incandescent light bulbs with Compact Fluorescent Light Bulbs (CFL) and save yourself in the long run. Energy Star reports that a CFL will save “about $30 over its lifetime and pay for itself in about 6 months. It uses 75 percent less energy and lasts about 10 times longer than an incandescent bulb.”

3. Energy Star Appliances. They are a more pricey change, but the long term savings can be well worth the upfront cost. These appliances are certified to use 10 to 50 percent less energy than your standard appliances. They also help reduce emissions and air pollutants.

4. Daytime Low. Most U.S. Households use some form of air conditioning during the summer months. If you have an empty house during the day, consider setting your thermostat to a higher temperature during the day, and then turning it cooler when you get home. If you have a more advanced system, consider setting a timer to kick on the cool 30 minutes before you return home.

5. Lights Out. This may intuitive, but turn off the lights in rooms you are not using. The same goes for televisions and computers.

Use these simple tips to reduce the cost of running your home this summer, and put that extra cash away into savings!

Carla Hill

New Lending Policies Announced by FHA

Sun, 14 Mar 2010 13:48:00 +0000

1. Increased mortgage insurance. The mortgage insurance premium (referred to as private mortgage insurance by many people) will be increased from 1.75% to 2.25%. This change will add some cost to purchasing a home, but will not overburden consumers since the mortgage insurance is paid over the life of the loan, rather than upfront at closing. This change will become effective on April 5, 2010.

2. New down payment and credit score requirements. According to the new policy, homebuyers who have a credit score of at least 580 may still be able to purchase a home with 3.5% down, but those with credit scores of less than 580 will be required to put down at least 10%. This change is designed to help the FHA balance its risk, while still providing affordable down payments for consumers with a history of good credit and responsibility.

3. Reduced seller concession. Basically, this change means that the person selling the home will now only be able to offer the homebuyer 3% to help defray closing costs, as opposed to 6% under the previous policy.

Have a great weekend

Fri, 12 Mar 2010 20:08:00 +0000

You can watch the ACC tournament or visit homes on the market. Let me help you.

Foreclosed Borrowers May Get Loans Again

Sun, 07 Mar 2010 00:08:00 +0000

Foreclosed Borrowers May Get Loans Again

Will people who currently face foreclosure or short sales or who walk away from their underwater properties ever be able to get financing to buy another home down the road?

Banks haven’t been very forthcoming on this issue. However, knowledgeable observers of the situation say that while it may take some time, the situation will right itself for most people.

Because bankrupt borrowers have eliminated their debts, they should "constitute attractive fodder for mortgage lenders," says University of Michigan law professor John Pottow, whose specialty is bankruptcy.

As home prices and the mortgage market stabilize, lenders will be motivated to lend to people who previously had financial troubles if they look like they can pay the next time around, says Alan Riegler, a consultant with CCG Catalyst, which advises banks.

"The lender who figures out how to do more of this case-by-case stuff cost-effectively is going to end up ahead of the pack," Riegler says.

Source: Inman News, Matt Carter (03/05/2010

City Counsel Starts Draft Towards Property Tax Increase

Fri, 05 Mar 2010 12:53:00 +0000

City Counsel Starts Draft Towards Property Tax Increase

Herald Sun had an article discussing ways to balance the upcoming year’s City budget — Council Open to Raising Taxes. The article discussed the projected gap in next year’s budget, estimated by some to be about $13Million, and the need to deal with some deferred road maintenance to the tune of at least $1.5Million [dealing with all the deferred maintenance would be $19Million] . The Council is apparently looking to cover the shortfall with a combination of spending cuts and a property tax increase of as much as 5.8 cents per $100 — an 11% increase over current rates. The Council is also considering a bond issue to deal with the backlog of maintenance projects.

Some semi-random thoughts;

There will be a property tax increase this year. The Council wouldn’t be talking about it in February unless they were laying the groundwork for passing an increase later this year.

While they say they will use a mix of spending cuts and a tax increase, expect much fewer spending cuts and a larger tax increase. After all, when has any government really been successful at cutting spending? I’d be surprised if the rate increase wasn’t at least 4 cents per $100.

As a citizen, I’d be really concerned with the level of deferred road maintenance, and even moreso with the idea of taking on additional debt to take care of it. It’s just like your personal budget — if you have to add debt to cover your regular monthly expenses, you are living beyond your means.

It will be interesting to see how this develops over the next couple of months, There are two ideas here. First of all, we all know that raising taxes in a recession is bad. We also know, however, that the City must keep a certain level of funding to keep it’s AAA bond rating. When idea wins out will be come clearer when the official budget is unveiled later this year.