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Monthly Archive

August 2008

August 15, 2008

Third Annual Leicester Studio Tour This Weekend

Filed under: Lifestyle — Althea @ 12:35 pm

While you are in the area to take a dip in the pool and get a bite to eat at The Ridge, follow the yellow signs on Hwy 63 to visit the 22 art studios participating in the Third Annual Leicester Studio Tour.  The self-guided tour will feature paintings, sculptures, fiber art, pottery, jewelry, ironwork, and more.

The tour takes place Sat. and Sun., August 16-17, 10 AM-6 pm. Meet at the Wildberry Lodge, 135 Potato Branch Road, to preview artwork and pick up a full-color map featuring each of the studios.

 For more information, visit www.cometoleicester.com.

 

August 14, 2008

A Unique and Independent Agency Since 1979.

Filed under: Affordable Housing, Historic Homes, Homebuyer/Owner Education — Althea @ 7:27 am

Is the Market Really That Bad? New White Paper Goes beyond the Gloomy Headlines

Filed under: Home Sales Statistics — Althea @ 7:18 am

Article from RIS Media Daily e-news, August 14, 2008

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By John Benson

Editor’s Note: The following information is compiled from a White Paper recently released by the author. The White Paper is titled, “60% of the U.S. Can Stop Worrying about Housing Market” and can be accessed by clicking [1] here.

RISMedia, Aug. 14, 2008 - When it comes to the national housing market, there is a lot of gloom and doom in the daily newspaper. Just look at a few recent headlines:

“Home Builder Sentiment, So. California Home Prices Crumble” - USA Today, 7/16/08
“Home Builders Post Steep Losses as Value of Unsold Land Slips” - New York Times, 7/27/2008
“Home Prices In May Took A Steep Fall” - The Wall Street Journal, 7/30/2008

“Thank God the economy is not as bad as you read in the newspaper everyday.” - Phil Gramm, top economic advisor to Sen. John McCain (R-AZ)

Lost amid the uproar caused by Gramm’s proclamation that the U.S. is a “nation of whiners” was a breath of economic fresh air to Realtors nationwide.

The economic recession that the United States is facing has been portrayed in the media as being brought about by the rising cost of oil and the “burst bubble” in the housing market. There is no denying that the cost of oil continues to stand at near record levels. But while the bubble has burst on the housing market, is it really still a nationwide problem?

A recent report contributed to RISMedia, “Why 60% of the U.S. Can Stop Worrying about the Housing Market,” simply states “no.”

While home values did fall as the bubble burst, the media continues to report constant drops across the nation in national home values.

The Office of Federal Housing Enterprise Oversight’s (OFHEO) House Price Index (HPI) tells a different story than the media is reporting. Citing data from home sales and appraisals for refinancing, OFHEO reported in May that 35 states saw a positive home value price change in the first quarter of 2008. In addition, 164 MSAs showed positive first quarter appreciation when compared to the same quarter of 2007.

“You’ve heard of mental depression; this is a mental recession,” said Gramm on July 9.

According to statistics from City-Data.com, 54 of the 101 cities with the largest population increase from 2000 - 2006 are located inside California, Nevada, Florida, and Arizona - the four states most affected by decreasing home values.

As the populations in these areas have settled, home starts continued…and speculation caused a rapid rise in home values. Now, there is an enormous real estate surplus, and those same four states are witnessing an economic period of leveling out.

Just because four states are still falling, and 11 other states continue to try and stabilize doesn’t mean the entire market will continue to take the plunge. According to PMI Mortgage Insurance Company’s “Economic & Real Estate Trends” report for Summer 2008, almost 68% of the nation’s 322 remaining MSAs experienced positive appreciation during the quarter when Metropolitan Statistical Areas (MSAs) located in California, Florida, Nevada, and Arizona are removed from PMI’s calculations.

For nearly 63% of Americans, the worst of the “housing crisis” seems to be over. As recently as late July, while economists were still not ready to call a bottom, positive signs began to show for home sales and home values.

To access the complete White Paper, “60% of the U.S. Can Stop Worrying about the Housing Market,” click [2] here.

John Benson is a real estate analyst who helped lay the groundwork for many startups across the Mid-Atlantic, and now works with Realtors in the region as a new media and marketing consultant. He welcomes your questions and comments. Contact him via e-mail: [3] jbenson304@gmail.com.

August 12, 2008

Housing Bill Creates Great Environment for First-time Buyers, Says Industry Leader

Filed under: Homebuyer/Owner Education — Althea @ 8:52 am

Commentary by J. Lennox Scott, chairman and CEO, John L. Scott Real Estate

RISMEDIA, August 12, 2008-Buying smart in today’s market got a little easier recently following the signing of the Housing and Economic Recovery Act of 2008 by President Bush. There are significant benefits aimed at helping buyers, such as a repayable first-time home-buyer tax credit. First-time buyers are important to the health of the housing economy because their home purchases help to stimulate sales up the price points. Through the home-buyer tax credit, buyers who are purchasing for the first time or who haven’t owned a property in the last three years can now qualify for a tax credit equal to 10% of their home purchase price, up to $7,500.

Further qualification requires that the home purchase be made between April 9, 2008 and July 1, 2009. The credit phases out if the buyer’s income exceeds $75,000 for an individual or $150,000 for a couple filing jointly and it must be paid back over a 15 year period in equal installments. The credit can be claimed on the buyer’s 2008 tax return even if the purchase is made in 2009 (it’s important to note that this is a tax credit and not a tax deduction).

Another component of the housing bill includes much needed FHA modernization which aims to adjust loan limits so that they are more in sync with current home values. The bill allows Fannie Mae and Freddie Mac to serve more home-buyers by raising loan limits in high cost areas above the standard conforming limit to 115 percent of the median house prices and up to 150 percent of the conforming loan limit.

The Housing and Economic Recovery Act is expected to play a critical role in strengthening the housing market and overall economy. The last time Congress passed legislation like this in the 1970s, the housing market saw a significant increase in activity. Using history as a guide, Lawrence Yun, chief economist of the National Association of Realtors believes the Housing Act could represent a boost of 10% in the number of homes sold.

The passing of the Housing and Economic Recovery Act marks the beginning phase of the next ten-year housing cycle in which prices in the more affordable markets will only continue to appreciate (affordable refers to homes priced at or below a market’s median housing price). Contributing to rising prices is population growth, the impact of Generation Y, inflation, and growth management. Homes in the more affordable price ranges in many markets have already adjusted and the new housing legislation will continue to boost this positive momentum. Increased sales in the more affordable markets will set a new foundation for housing, helping to stabilize the overall real estate economy.

About John L. Scott Real Estate
John L. Scott Real Estate was founded in 1931 and is currently led by third generation chairman and CEO, J. Lennox Scott. With more than 4,000 sales associates in 145 offices in Washington, Oregon, and Idaho, John L. Scott is considered one of the most productive real estate companies in the nation. Last year, John L. Scott closed over 44,000 transactions for 14.6 billion dollars in volume sales. The award-winning website, www.johnlscott.com, receives over one million user visits a month.

August 8, 2008

Mountain Housing Offers Affordable Townhomes - $130-$150K

Filed under: Affordable Housing — Althea @ 10:51 am

 Woodfin, a fast-growing community minutes from downtown Asheville, has seen major recent development with Reynolds Mountain luxury community and Altura, a 220-acre upscale green development.

Now Mountain Housing Opportunities (MHO) presents Elk Mountain Townhomes, an affordable 9-unit development with units ranging from $135,000-$150,000.  The public is invited to tour these homes this weekend.

Open House

Elk Mountain Townhomes
Sunday, August 10
2-5 p.m.Located on the corner of Elk Mountain Road and Penley Avenue in Woodfin, Elk Mountain Townhomes are convenient to both 19/23 (future I-26) and Riverside Drive, placing them just minutes from Downtown Asheville.

Features include:

  • 2 bedroom, 1.5 baths
  • 9-foot ceilings on lower level
  • Energy Star and NC HealthyBuilt certified
  • $135,000 to $150,000 ($40,000 in deferred financing available to qualified buyers)
  • Monthly payments as low as $719 a month

For more information, visit the MHO website.

Sourwood Festival in Black Mountain this Weekend

Filed under: Lifestyle — Althea @ 6:55 am

 

The 31st annual Sourwood Festival starts this weekend

Barbara Hootman

Black Mountain News

The 31st annual Sourwood Festival is set for Saturday, August 9, and Sunday, August 10. The event, sponsored by the Black Mountain - Swannanoa Chamber of Commerce, has grown into one of Western North Carolina’s most diverse street festivals, featuring crafts, foods, music, and a lot of fun.
“The Sourwood Festival is a family, hometown celebration with 180 vendors, of which about half are local craft people, and close to a dozen non-profit organizations raising money for special projects,” Bob McMurray, Black Mountain-Swannanoa Chamber of Commerce executive director, said. “We have free music throughout the festival, and a large children’s area with a lot of different activities.”
Beekeeper Edd Buchanan hasn’t missed a Sourwood festival since it started. He will return with his bee display and much sought-after sourwood honey.
“We will have Sourwood honey, but the blossoms haven’t matured due to the excessive heat and dry weather, so there hasn’t been that much nectar for the bees,” he said.
Kathy Collins, Kats Paw Creations, from Swannanoa is returning to the festival for her eighth year.
“I get to see folks that I see only at the festival, and my neighbors,” she said. “I like the Sourwood Festival, because of the hometown feel. It is a profitable festival for my artwork. I am 10 minutes from home, so it cuts down on the gas cost.”
The St. James Episcopal Church’s booth, Wholly Sweets, will be back again this year.
“This non-profit booth has been in the festival for probably the longest time of any of them,” McMurray said.
Ninety-six-year-old Inez Pearson’s fruit pies will once again be at Wholly Sweets, along with dozens and dozens of cookies, pies, cakes, and breads. All the money raised is given to the Women’s Prison Ministry and to mission projects.
Nancy Wrenn has been helping with the Wholly Sweets booth for 15 to 20 years.
“It is a lot of fun and a lot of hard work,” Wrenn, said. “It is worth all the hard work to raise money for our projects.”
The Sourwood Idol Contest will be held on Friday night, August 8, at 7 p.m. in the parking lot across from the Old Depot. This is a competition for single, musical acts. Prizes are given. There are openings for competitors. Those interested should call the Black Mountain-Swannanoa Chamber of Commerce at 669-2300 for an application, or arrive at 6 p.m. on August 8 at the entertainment tent and register to compete.
For more information, consult the Sourwood Festival Guide in this week’s Black Mountain News.

Asheville listed on Best Green Place to live in America

Filed under: Green Building, Lifestyle — Althea @ 6:45 am

Best Green Cities

Country Home magazine, in conjunction with Sperling’s BestPlaces, reveals that Burlington, Vermont is the 2007 Best Green Place to live in America.

Burlington is located on the eastern shore of Lake Champlain between the Adirondack and Green Mountains in northwest Vermont and has a population of 40,000. With programs like Burlington Eco Info Project, the community of Burlington, including the residents, businesses and government, values a green lifestyle and makes it a priority.

“We are seeing a real interest, by both our readers and the marketplace, in exploring a green lifestyle,” said Editor-in-Chief Carol Sheehan. “We wanted to find out who in America is actually taking action, where they are, and what they are doing.”

Best Green Places
1. Burlington, VT
2. Ithaca, NY
3. Corvallis, OR
4. Springfield, MA
5. Wenatchee, WA
6. Charlottesville, VA
7. Boulder, CO
8. Madison, WI
9. Binghamton, NY
10. Champaign-Urbana, IL
11. Ann Arbor, MI
12. San Diego, CA
13. La Crosse, WI
14. Pittsfield, MA
15. Eau Claire, WI
16. Durham, NC
17. Norwich-New London, CT
18. Eugene, OR
19. San Francisco, CA
20. Chico, CA
21. Harrisburg-Carlisle, PA
22. Barnstable Town, MA
23. Utica-Rome, NY
24. Missoula, MT
25. Asheville, NC

See complete list

The Best Green Places study, which is based on data discovered by Sperling’s BestPlaces, examines 24 data metrics in 5 major categories — including air and watershed quality, mass transit usage, power usage, farmers markets, organic producers, and number of green-certified buildings — to determine which metro areas are the best places to live a green life. Sperling’s BestPlaces ranked the 379 major metropolitan areas, as defined by the U.S. Census Bureau. Over 80 percent of all U.S. residents live in these 379 metro areas.

Data was collected from sources which include the Census Bureau, the U.S. Green Building Council, Department of Transportation, Environmental Protection Agency, U.S. Department of Agriculture, the GreenPeople.org online directory.

Among its unique green attributes, Burlington has developed a compost facility that collects food scraps from restaurants, supermarkets, institutions and food manufacturers, and the yard clippings and leaves from local residents and landscapers. Once finished composting, local farmers, gardeners and landscapers purchase this nutrient rich soil to use.

Over 16 percent of Ithaca residents (or 5,000 people) walk to work Ð the highest percentage in the nation. Combine that with bike riders, mass transit users and home office workers and Ithaca has the greenest commuters.

In Corvallis, over 15 percent residents, as well as the city government, purchase renewable energy. Corvallis was the first city on the West Coast to achieve the Green Power Community designation from the U.S. EPA. The achievement was met after the Corvallis City Council passed a resolution encouraging residents to switch to Ôgreen power.’

Springfield’s ReStore accepts donations home improvement materials and sells them to the public at low prices in a convenient retail setting. Inventory includes used and salvaged materials and surplus stock from the building industry.

Wentachee is dedicated to teaching young people about alternative energy resources. Each year at the world’s only Solar Drag Race, high school and college students, build and race battery-less, sunlight-propelled dragsters for a chance to win scholarships.

The Charlottesville community puts a value on trees, parks, greenspace, streams and biodiversity. In an effort to balance the natural and built environment and practice sustainability, Charlottesville encourages the use of green roofs, rainwater harvesting, porous paving and rain gardens. These concepts are being demonstrated by the city to encourage adoption in parks and public spaces.

Boulder has the country’s best organic food supply. The state’s largest farmers’ market is in Boulder and runs from April to November and is backed by Whole Foods and a network of co-ops and local producers.

In Madison, the Eco-Fruit project, based at the University of Wisconsin-Madison, has both policy and field components that enable Wisconsin fruit growers to reduce pesticide use without sacrificing fruit quality. In the Eco-Fruit project’s first two years, growers reduced pesticide risk by 58 percent and increased their reliance on Integrated Pest Management strategies by 13 percent.

Binghamton nonprofit organizations extensively promote healthy and organic eating habits. One volunteer group, Club VEG reaches out to educate the public, health care professionals, and health organizations about the benefits of a plant-based diet.

Renewable Energy Initiative at the University of Illinois at Urbana-Champaign is working to meet the state’s renewable portfolio standard which requires that, by 2006, at least 2% of the electricity sold to Illinois customers be generated from renewable resources. The amount of electricity from renewable resources is required to increase at least by 1% annually, reaching at least 8% in 2012 and 16% in 2020.

 

August 6, 2008

Southern Energy & Environment Expo Showcases Green Energy, Building

Filed under: Lifestyle — Althea @ 12:10 pm

The Asheville area continues as a progressive pioneer of everything green. While in the area, take a short drive to the 8th annual Southern Energy & Environment Expo at the WNC Agricultural Center in Fletcher. The event will take place August 22-24th and showcase solar energy, wind power, solar home tours, green building, an ECO green home tour, hybrid-electric, biodiesel, and more.

There will be exhibits and presentations. Camping and food is available at an additional cost. For more information, visit www.seeexpo.com.

Dates and Times:

Friday, August 22, 12:00 noon to 6:00 pm
Saturday, August 23, 10:00 am to 7:00 pm
Sunday, August 24, 10:00 am to 5:00 pm

Daily admission: $10 adults, ages 13-21 $5, 12 and under free.

August 1, 2008

Asheville Residential Sales Statistics-July 2008

Filed under: Home Sales Statistics — Althea @ 3:30 pm

Single Family Residential Homes

Number Sold: 122

Median Sale Price: $223,450

Average Days on Market: 106

Condos

Number Sold: 14

Median Sale Price: $176,950

Average Days on Market: 126

Townhomes

Number Sold: 6

Median Sale Price: $240,000

Average Days on Market: 32

Source: Search performed in North Carolina Mountains MLS. Excludes manufactured and modular homes.