New Mortgage Rules Help Unemployed Homeowners
Mortgage loan servicers will be required to extend the forbearance period for unemployed homeowners to 12 months under new Federal Housing Administration (FHA) rules announced by the Department of Housing and Urban Development (HUD). The requirements will also require servicers who participate in the Making Home Affordable Program (MHA) to extend the minimum forbearance period to 12 months whenever possible. The goal is to get the mortgage industry to provide more robust assistance to unemployed homeowners who are struggling in a tough economy.

“The current unemployment forbearance programs have mandatory periods that are inadequate for the majority of unemployed borrowers,” HUD secretary Shaun Donovan says. “Today, 60 percent of the unemployed have been out of work for more than three months and 45 percent have been out of work for more than six. Providing the option for a year of forbearance will give struggling homeowners a substantially greater chance of finding employment before they lose their home.”
Fri, Jul 8, 2011 source:

Council of Residential Specialists 

 

Invites you to our…

2011 Seller’ Seminar Series

Subjects:

• Pricing in this econimic climate
• The New North Carolina Offer to Purchase & Contract
• The New Lending Climate
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Where:Fairfield Harbour POA Activities Center

904 Coral Reef Drive Room 2

When:Tues, Feb 1 thru Friday Feb 4 at 4:30pm & 7:oo pm

Saturday, Feb 5 at 9:00am

Call to select your preferred time:

252-633-4888

Light Refreshments will be provided!

Saturday, September 25 is the Sixth Annual Smithsonian Magazine Museum Day. This is an annual event hosted by the Smithsonian. Participating museums across the country, including our own Tryon Palace, open their doors for free to anyone presenting a Museum Day Ticket. Only an official Museum day ticket is eligible for free entry. The Ticket provides free admission to one person, plus a guest, one ticket per household. Check out all the participating museums, download a ticket and get more information at: www.smithsonianmag.com/museumday.

For more information about the Tryon Palace, visit http://www.tryonpalace.org/ and then be sure to visit the Tryon Palace in person! You won’t be dissapointed!

New Bern is a city rich in History: it is nearly 300 years old and about to have it’s 300th year celebration. New Bern was the Colonial Capital of North Carolina and has many historic homes dating back to the 1700′s, as well as Govenor Tryon’s house, the Tryon Palace.

The homes and historic businesses have been preserved, partly due to the help of the New Bern Historical Society, the New Bern Preservation Foundation and the City of New Bern. Tours of homes are offered to the public during the annual New Bern Homes & Gardens Tour as well as the Ghost Walk.

The many fine attributes of New Bern have attracted countless retirees as well as families based at Cherry Point MCAS. The mix of people from all over the country has helped to make the city rich in culture: a small city with big city elements. There are festivals and symphonys, art galleries and fine dining, historic homes and new homes, golf courses and kayak trails…the list goes on. I have provided several links below to get you started.

http://www.newbern300.com/index.html

http://www.newbern-nc.org/

http://www.visitnewbern.com/

http://www.tryonpalace.org/

http://www.marcia-joy.com/new-bern-real-estate/all-new-bern.htm

Or just come see us and I”ll show you around!

Marcia

But "Survivor" started a surge in television shows ranging from Bachelors picking Brides to Jessica Simpson picking out Egyptian sheets to Ozzie Ozborne cursing at his children. New shows seemed to pop up daily showing us what people were doing, all over the world.

Then came the portals that allowed us to tell everyone, who cared to listen, what we were doing. We could text message, email, instant message, go to a chat room, blog, post on MySpace, FaceBook, LinkedIn, etc. But as quickly as we were learning to overcome all our fears about posting photos, sharing news with our friends and family via the Internet, along came a simple "Twitter".

Twitter touts itself as a "service for friends, family, and co–workers to communicate and stay connected through the exchange of quick, frequent answers to one simple question: What are you doing?" Signing up to Twitter is as easy as defining who you are and who you will "follow". Posting a "Tweet" and answer to the question "what are you doing" will send and automatic email and phone message to everyone following your stream. You can even set up your post to go to different places such as your FaceBook "wall". Suddenly, everyone knows what you are doing every second of the day, if you would like, and members of Congress are Tweeting" during Session. Wow, what an onslaught of information!

What’s next for us? I don’t know, but if you find out, Twitter me.

Marcia

http://twitter.com/new_bern

The New Bern Multiple Listing Service primarily covers Craven, Pamlico and Jones counties. The population density is heaviest in Havelock and New Bern, both located in Craven County. Since MCAS Cherry Point continues to grow, you would assume that the areas near the Air Station, specifically New Bern and Havelock, would continue to sell; and you would be right!

An additional point is that most of these marines are young and therefore first time buyers, with nothing to sell before they buy and very loan worthy. (A Realtor side note: these are usually not lucrative sales since the price level is low but much more fulfilling, which I prefer. If you have never worked with a Marine family, you are missing one of the best parts of real estate sales.)

So how were our sales in 2008? Havelock closed 260 homes in 2008 and as of today, there are 110 on the market. That means there is less than a 6 month supply available, indicating a sellers market. WOW! The city of New Bern did not fare quite as well with available homes at 331, closed sales for 2008 at 331; more than a 12 month supply which is clearly a buyers market and yet, selling more than most cities across the US.

You can search for homes in Havelock and New Bern at http://www.marcia-joy.com/new-bern-real-estate/all-new-bern.htm , look at the City of Havelock homepage at http://www.cityofhavelock.com/ , or look at New Bern’s 300 year celebration site at http://newbern300years.com.

— Marcia

Why are we still selling homes in our area? One reason is the influx of military personnel to our Marine Base in Havelock: Cherry Point Marine Air Station. Many of the pilots and crew are first time buyers and have no house to sell. They are still one of the only groups that can get 100% financing through the VA.

How is this valuable and to whom? As a builder, I would build spec homes under $250k and choose an area convenient to the MCAS. As a buyer, I would know which homes would, most likely, be more negotiable and as a seller, I would how much competition I have and how it is affected.

— Marcia Werneke

Both adults and children can enjoy one of the longest running events, New Bern Historical Society’s 18th annual Ghostwalk! Entitled, Spirits of the Neuse, this years "ghoulishly" thrilling event has a maritime theme. "Spirits" from New Bern’s maritime past will share their stories as your are guided through historic homes, buildings and the Cedar Grove Cemetery.

Tickets are $20 the day of tour and $10 for Active military and children under 21. Event days are October 24th & 25th from 5-9pm. For more information, visit www.newbernhistorical.org or call 252-633-8558.

Adults can wear their chilling costumes and twirl the night away at the River Town Ball Room on Pollock Street. For a mere $10, costumed participants can eat, enter costume contests and take a dance lesson on October 24th from 8-11pm.

The annual Parade of Preschoolers will be held downtown on October 3oth beginning at 9:30. Children will parade through the town adorned in costume. This event is organized by New Bern Parks and Recreation, the Craven County Cooperative Extension Service and Smart Start’s Parents as Teachers program. To participate in the parade, call 252-639-2902.

Even our pets can join in the fun during the 1st Annual Howl’oween Pet Parade hosted by the Colonial Capitol Humane Society. Dogs can wear their favorite costumes and enter contests, win prizes and preform "tricks for treats". You and your pet will have a "howling" good time and possibly win some great prizes. This event, MC’d by Skip Waters, has been moved to Saturday, November 1st at Lawson Creek Park. The event is free but there is a $10 charge to enter in the costume contests.