My New Blog

Everything seems to be moving along with starting the new bridge with private funds and using toll money to pay for it - it is scheduled to begin sometime next year and to be completed in 2013.  For more info go to www.ncturnpike.org.

In other news, beach driving has temporarily been saved and wildlife still protected.  Most areas will still be open for driving and fishing with some exceptions near nesting sites and some Hatteras Island beach areas will be closed from 10pm till 6am for turtle nesting in the summer months.  All will be relooked at on a yearly basis till a permanent plan is set.

We are getting a much needed rain right now - 2 inches and counting - a good time to check out a home for water problems would be some time in the next week.

Call or email anytime with questions and concerns or issues you would like to see talked about.

Carol

Hello,

Been away in Philly for a few days - bck in time to see if the Feds cut the rate tomorrow. There seems to be an increase in price reductions recently causing some more homes to finally go under contract.

In other news, the North Carolina Turnpike Authority is inviting comments on their latest reports and ideas for the bridge in to Corolla. I know this will affect many of you so if you want to look at the latest reports :

www.ncturnpike.org/projects/Mid_Currituck/documents.asp

to comment go to:

midcurrituck@ncturnpike.org

Talk to you all soon

Carol

Mortgage rates are at there lowest according to the market analysts - this caMortgage Rates Hit Low Point

The 30-year fixed rate mortgage currently sits at 5.88 percent, and analysts say they are unlikely to fall any further for the rest of the year.

The rate on the fixed loans is only down a quarter of a point this year, as the credit markets have cut the link between it and yields on 10-year Treasuries; and while skittish investors have moved to Treasuries to trim the yields, mortgage lenders have not eased lending standards.

Mortgage rates are likely to close 2008 at about 6 percent as investors in bonds focus on rising inflation, driving interest rates higher.

Long-term rates will also increase due to the additional supply of Treasuries as Congress borrows to raise money for the growing federal budget deficit.

Source: Kiplinger.com, Jerome Idaszak(04/21/08) 

don't miss this opportunity if you are considering buying this year.

Carol

Hi everyone,

Some of you might be aware that we are in a fight to save our southern beaches - they are trying to stop our way of life - driving, fishing and walking on the beaches of Hatteras Island and Oregon inlet - help save them - it is one of the few open beaches left in the USA -go to

www.savehatteras.com if you would like to help

Thanks to all who decide to help!

Carol

Just a little info - the intersest rates are at the lowest since April of 1973 - the only other times they have been this low is the early 80's and early 90's when it was a seller's market with low inventory.

If the interest rate goes from 6 to 7% on just a 200,000 loan your payments will go up $1,578 dollars and you will have a loss of 7,578 dollars a year.

My message - take advantage of the best possible conditions before they change - low interest rates, high inventory and low negotiable prices.

Don't kick yourself later!

Carol

Well warm temperatures have returned and despite the market news we read in the paper - usually statistics that are already months old- the number of buyers here and houses under contract are definitely picking up.  Prices continue to drop and when they haven't, the buyer's are making low offers and getting houses for 2004 prices plus closing costs or a credit for updating the house.  Today's investors are getting closer to positive cash flow, but seem to be looking for a longer term investment - it may take a few more years to sell and come out ahead, but in the meantime you can enjoy a beach house in one of the most beautiful places in America, while other people help make your payments.

Take advantage of those low interest rates today and look for those short sales and foreclosures. Sad as it may be, someone elses mess could be your opportunity for a great beach house!

Happy Weekend

Carol

To all of you who own a lot or were thinking of buying in Corolla Bay or Monterey Shores - the Carolina Water Department has received all the permits to expand the water supply for the Monterey Shores/Corolla Bay area and it should be completed sometime in the spring of 2009.  This should help finally lift the building moratorium.

Stay tuned for a final decision on Driving on, fishing and using the beaches on Hatteras Island and Ocracoke.  A settlement should be reached by this Friday - hopefully one that all can be happy with - our wildlife can be protected while still allowing all to enjoy the beautiful beaches.

Take care

Carol