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Welcome to Heather Vandermyde's Real Estate Blog......

I hope you enjoy the weekly real estate updates. They will come in the form of videos,statistics,pictures, and text. Please check back weekly to find out the latest! Thanks for stopping by! If you know anyone interested in buying or selling real estate on the outer banks please let me know.

Tuesday, December 30, 2014

Housing Market Expectations for 2015( PR Web)


Housing Market Expectations For 2015

The Federal Savings bank shares housing market expectations for 2015.

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slightly higher interest rates are a sign of a healthy economy, and they won't climb to intimidating percentages any time soon.
Chicago, Il (PRWEB) December 11, 2014
As 2014 comes to an end, The Federal Savings Bankknows that consumers are interested in knowing what to expect from the housing market next year. Will home prices rise? Will it be a good time to buy or sell?
According to a December 9th article by Fortune magazine, analysts are beginning to roll out their 2015 predictions, and many professionals think the same things: The number of first-time home buyers and millennials participating in the market will increase, mortgage rates will rise slightly and the foreclosure crisis will officially end, to name a few.
Realtor.com and Fortune are predicting the number of first-time home buyers will rise next year and move away from the low 33-percent participation rate uncovered by the National Association of Realtors for 2014. Historically, first-timers have accounted for 4 out of every 10 buyers, but that figure dropped following the housing crisis. High costs of living, unemployment, stagnant wages and educational debt all contributed to keeping first-time buyers out of the market.
However, many analysts believe first-time home buyers, particularly those in the millennial generation, will finally enter the market and start searching for homes. Realtor.com believes that millennials will make up two-thirds of new households in the next five years. Consumers in more affordable areas, such as in the Midwest and South, should expect to see the most first-time home buyer involvement.
Rates will rise but remain affordable
Current mortgage rates are at historic lows, and in 2015, they're likely to increase. The Federal Reserve had said it will begin to raise the federal funds rate in the future, which indirectly affects mortgage rates. The increase may come in 2015 or be put off until 2016, but when it happens, mortgage rates will follow.
Potential home buyers and those interested in refinancing shouldn't fear though. The Federal Savings bank reminds readers that slightly higher interest rates are a sign of a healthy economy, and they won't climb to intimidating percentages any time soon.
The end of massive foreclosure numbers
The number of foreclosure proceedings have fallen in the past couple of years, and Realtor.com thinks 2015 will be the year for the foreclosure crisis to officially end. Each region will be slightly different, but the nationwide trend will be back toward customary numbers.
"We are on pace for foreclosure inventories to end 2014 down more than 30 percent, and next year should see a slightly greater decrease as foreclosures fall to normal levels," said Realtor.com Chief Economist Jonathan Smoke.
Prospective buyers should contact the Federal Savings Bank, a veteran owned bank, to learn about low mortgage rates and the pre-approval process.


Housing Market Expectations For 2015

The Federal Savings bank shares housing market expectations for 2015.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInShare on PinterestEmail a friend
slightly higher interest rates are a sign of a healthy economy, and they won't climb to intimidating percentages any time soon.
Chicago, Il (PRWEB) December 11, 2014
As 2014 comes to an end, The Federal Savings Bankknows that consumers are interested in knowing what to expect from the housing market next year. Will home prices rise? Will it be a good time to buy or sell?
According to a December 9th article by Fortune magazine, analysts are beginning to roll out their 2015 predictions, and many professionals think the same things: The number of first-time home buyers and millennials participating in the market will increase, mortgage rates will rise slightly and the foreclosure crisis will officially end, to name a few.
Realtor.com and Fortune are predicting the number of first-time home buyers will rise next year and move away from the low 33-percent participation rate uncovered by the National Association of Realtors for 2014. Historically, first-timers have accounted for 4 out of every 10 buyers, but that figure dropped following the housing crisis. High costs of living, unemployment, stagnant wages and educational debt all contributed to keeping first-time buyers out of the market.
However, many analysts believe first-time home buyers, particularly those in the millennial generation, will finally enter the market and start searching for homes. Realtor.com believes that millennials will make up two-thirds of new households in the next five years. Consumers in more affordable areas, such as in the Midwest and South, should expect to see the most first-time home buyer involvement.
Rates will rise but remain affordable
Current mortgage rates are at historic lows, and in 2015, they're likely to increase. The Federal Reserve had said it will begin to raise the federal funds rate in the future, which indirectly affects mortgage rates. The increase may come in 2015 or be put off until 2016, but when it happens, mortgage rates will follow.
Potential home buyers and those interested in refinancing shouldn't fear though. The Federal Savings bank reminds readers that slightly higher interest rates are a sign of a healthy economy, and they won't climb to intimidating percentages any time soon.
The end of massive foreclosure numbers
The number of foreclosure proceedings have fallen in the past couple of years, and Realtor.com thinks 2015 will be the year for the foreclosure crisis to officially end. Each region will be slightly different, but the nationwide trend will be back toward customary numbers.
"We are on pace for foreclosure inventories to end 2014 down more than 30 percent, and next year should see a slightly greater decrease as foreclosures fall to normal levels," said Realtor.com Chief Economist Jonathan Smoke.
Prospective buyers should contact the Federal Savings Bank, a veteran owned bank, to learn about low mortgage rates and the pre-approval process.


Housing Market Expectations For 2015

The Federal Savings bank shares housing market expectations for 2015.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInShare on PinterestEmail a friend
slightly higher interest rates are a sign of a healthy economy, and they won't climb to intimidating percentages any time soon.
Chicago, Il (PRWEB) December 11, 2014
As 2014 comes to an end, The Federal Savings Bankknows that consumers are interested in knowing what to expect from the housing market next year. Will home prices rise? Will it be a good time to buy or sell?
According to a December 9th article by Fortune magazine, analysts are beginning to roll out their 2015 predictions, and many professionals think the same things: The number of first-time home buyers and millennials participating in the market will increase, mortgage rates will rise slightly and the foreclosure crisis will officially end, to name a few.
Realtor.com and Fortune are predicting the number of first-time home buyers will rise next year and move away from the low 33-percent participation rate uncovered by the National Association of Realtors for 2014. Historically, first-timers have accounted for 4 out of every 10 buyers, but that figure dropped following the housing crisis. High costs of living, unemployment, stagnant wages and educational debt all contributed to keeping first-time buyers out of the market.
However, many analysts believe first-time home buyers, particularly those in the millennial generation, will finally enter the market and start searching for homes. Realtor.com believes that millennials will make up two-thirds of new households in the next five years. Consumers in more affordable areas, such as in the Midwest and South, should expect to see the most first-time home buyer involvement.
Rates will rise but remain affordable
Current mortgage rates are at historic lows, and in 2015, they're likely to increase. The Federal Reserve had said it will begin to raise the federal funds rate in the future, which indirectly affects mortgage rates. The increase may come in 2015 or be put off until 2016, but when it happens, mortgage rates will follow.
Potential home buyers and those interested in refinancing shouldn't fear though. The Federal Savings bank reminds readers that slightly higher interest rates are a sign of a healthy economy, and they won't climb to intimidating percentages any time soon.
The end of massive foreclosure numbers
The number of foreclosure proceedings have fallen in the past couple of years, and Realtor.com thinks 2015 will be the year for the foreclosure crisis to officially end. Each region will be slightly different, but the nationwide trend will be back toward customary numbers.
"We are on pace for foreclosure inventories to end 2014 down more than 30 percent, and next year should see a slightly greater decrease as foreclosures fall to normal levels," said Realtor.com Chief Economist Jonathan Smoke.
Prospective buyers should contact the Federal Savings Bank, a veteran owned bank, to learn about low mortgage rates and the pre-approval process.

Saturday, December 20, 2014

Pleased to Share This Information on Insurance Rates

A letter from Willo Kelly-

Insurance Rates Surprise


OBAR and OBHBA are pleased to report that NC Insurance Commissioner Wayne Goodwin Has Denied Insurance Companies' Request to Raise Homeowners Rates - Outer Banks' Territory Rates Going Down up to 9% Effective June 1, 2015!

RALEIGH -- Insurance Commissioner Wayne Goodwin has ordered a zero percent statewide overall average change in homeowners insurance rates, effective June 1, 2015. The ordered rates vary by geographic territory and type of insurance. On average, homeowners insurance rates are to decrease by 0.3 percent, renter's insurance rates are to increase by 11.2 percent, and condo owner's insurance rates are to increase by 8.1 percent.
The decision comes after Goodwin held a hearing to examine the insurance companies' request to raise overall average rates by 25.6 percent. During the hearing, experts from the N.C. Rate Bureau, on behalf of the insurance companies, and experts from the N.C. Department of Insurance, representing the interests of the public, presented their cases for and against the rate hikes. It was the first hearing on homeowners insurance rates since 1992.
"The rates I have ordered are the result of the most thorough inspection of North Carolina homeowners insurance rates in more than 20 years," said Goodwin. "After considering all of the evidence and data available, I have determined that no factors or events justified the excessive rates requested by the insurance companies."
Effective June 1, 2015, rates for the barrier island portions of Currituck, Dare and Hyde Counties will go down 9%, a savings of about $223 for $150,000 of coverage; rates for the mainland areas of Currituck, Dare, Hyde and Pamlico Counties will do down 8.9%, a savings of $189 for $150,000 of coverage. The NC Rate Bureau had requested a 35% increase for barrier island territories and a 10% increase for inland northeastern coastal territories.
For a full breakdown of statewide rate changes click on the links below.
--
Happy Early Holidays!!
Willo
Willo Kelly
Government Affairs
Outer Banks Home Builders Association
Outer Banks Association of REALTORS®
willokelly@gmail.com
(252) 202-7927

Saturday, November 29, 2014

See below, I found this article on OBX Connect website by Daily Mail Reporter -Thomas Wallace

Is THIS the lost Roanoke Colony? New radar imagery finds evidence of buildings near island in North Carolina where 120 British settlers disappeared 

  • A satellite survey of area around Albemarle Sound has identified key areas of interest 
  • Scientists are searching these areas using ground penetrating radar (GPR)
  • GPR measures the depth that signals travel before hitting a hidden object
  • So far, they have found a previously 'undetected pattern' that they claim may indicate a former colonial presence in the area

New radar images have shown that British colonists may have settled in a remote part of what is now North Carolina more than 400 years ago - potentially solving a centuries-old mystery.
It was never fully known where a group of 120 settlers from England ended up after they left Europe and headed to the 'New World'. Historians have debated the fate of the so-called 'Lost Colony' for years - having been left with no more evidence than the word 'Croatoan' carved into a tree near the abandoned settlement.
Researchers may have now taken a large step towards settling the debate after enlisting the help of magnetometers and ground-penetrating radar (GPR).
And, in the stuff of a schoolboy's dreams, the researchers have backed up the glittering technology's findings with 'secret' evidence from a 400-year-old map drawn by one of the settlement's founders. 
Location, location, location: Roanoke Island is located just off what is now the state of North Carolina (seen in this 16th century map in red). The area of recent interest is the section at the left centre of the map where the two rivers meet
Location, location, location: Roanoke Island is located just off what is now the state of North Carolina (seen in this 16th century map in red). The area of recent interest is the section at the left centre of the map where the two rivers meet
Modern version: A satellite map of the Albemarle Sound area of Noprth Carolina shows how accurate White's map is. The area of interest is just above Swan Bay in Bertie County
Modern version: A satellite map of the Albemarle Sound area of Noprth Carolina shows how accurate White's map is. The area of interest is just above Swan Bay in Bertie County
Last year the map - drawn in 1585 by John White, an artist and friend of famed explorer Sir Walter Raleigh - rekindled interest in the fate of the lost colonists. 
Tests found a hidden section of the map, drawn in a style of invisible ink and covered with paper, which provided a tantalising hint at the possible location of what may have been intended as the colony's capital near Roanoke Island.
Around 70 miles away from the island, at the end of Albemarle Sound, the covered section of the map disguises what appears to be diamond-shaped drawing that was often used to mark a defensive postion of fort.
The latest images are far from the handsome maps of yore, however, as the GPR photos are difficult for the untrained eye to decipher. They display magnetomer-produced images that show anomalies in the ground distribution in the area. 
Markings: The black spots on this image show ditches that are thought to have been created around the time the settlers would have arrived
Sub-surface disturbances: The image at the left shows the 'curved' markings attributed to Native American residents while the 'straight' images indicate that Colonists were in the area as well
Markings: Experts say the black spots on the image above show ditches that are distinctly different from Native American design. The image above right is a ground penetrating radar (GPR) image of the same area
Tanya Basu from National Geographic reports that Malcolm LeCompte, a research associate at Elizabeth City State University in North Carolina, came up with the idea to use GPR alongside White's map.
Analysts believe the differences in surface structure could indicate the creation of ditches that are different from those created by Native Americans.
A green and brown imagery photo examines the varying levels of sub-surface features. Curved anomaly patterns are considered to be the work of Native Americans, while straight-line patterns are thought to be made be colonial settlers.
The location of the colonial ground patterns in the modern images is the same as White's hidden fort on the 1585 map. It is a classic 'X-marks-the-spot' map that could yet lead to historical treasure.
The map by John White in which scientists have found the possible location of Sir Walter Raleigh's 'lost colony'
The map illuminated from below which shows the hidden location
Riddle in invisible ink: The map (left) of Roanoke Island in North America drawn by John White during an attempt to create England's first colony reveals a hidden possible location for the settlement when it was illuminated from underneath (right) in recent tests. The colony disappeared in mysterious circumstances in the 1580s
Shedding new light: In this close-up of the patch at the centre of the map, a lozenge, the symbol for a fort, can clearly be seen. The symbol was drawn in invisible ink and further concealed with a piece of paper glued on top
Shedding new light: In this close-up of the patch at the centre of the map, a diamond or 'lozenge', the symbol for a fort, can clearly be seen. The symbol was drawn in invisible ink and further concealed with a piece of paper glued on top
The 'invisible ink' - a likely combination of milk, citrus juice or urine - was a common feature of maps at the time, often hiding places of strategic or military importance. For added security, the fort symbol was covered by another piece of paper glued over the top.
Researchers undertook a satellite survey of the site and looked for similarities between the old map and the current geography of the area.
They are currently identifying where the spots on the map match today's landscape, before systematically searching the site with their GPR.
Journey back in time: A modern-day map of the colony's location on the north-east coast of North America
Step back in time: A graphic of the North Carolina coast shows the possible location of the 'Lost Colony' in relation to Roanoke Island, where British settlers established a colony in the 1580s
Hunting for historical answers: Clay Swindell uses the magnetometer at left while
Hunting for historical answers: Clay Swindell uses the magnetometer at left while Malcolm le Compte teaches student Patrina Bly how the GPR machine measures and backdates disturbances underground
Hunting for historical answers: Clay Swindell uses the magnetometer at left while Malcolm le Compte at right teaches student Patrina Bly how the GPR machine measures and backdates disturbances underground

TIMELINE: WHAT WE KNOW SO FAR

1584: Sir Walter Raleigh's men first land on Roanoke Island and find it suitable for settlement.
1585: 108 soldiers come to Roanoke to establish first colony.
1586: Colonists and Native Americans at 'war', and colony abandoned.
1587: Second group of 117 colonists come to Roanoke
1590: Captain White returns to Roanoke to find the colony gone.
1602: Raleigh makes another attempt to locate the colony.
1940s: Professional archaeology begins at Roanoke.
2012: Experts identify a tantalising clue hidden in a map drawn by settlement founder John White.
2013 - Researchers study the site with the help of magnetometers and GPR.
GPR works by sending a tiny pulse of energy into a material via an antenna. A computer then records the strength and time required for the return of any reflected signals.
Sub-surface variations from objects - such as wooden structures, iron cannons or coffins - will create reflections that are picked up by the system.
Using this technique, Professor LeCompte and his colleagues found a previously undetected pattern that they claim may indicate the presence of one or more wooden structures under about a metre of soil.
Researchers claim the presence of the buried structure may indicate that there was some sort of colonial presence in the area.
The Museum of the Albemarle suggested the use of a proton magnetometer to enable the researchers to double-check their GPR findings, which can find objects buried about 13ft (four metres) underground.
Researchers are hopeful that it will only be a matter of time before they stumble on further clues to help explain what happened to the Roanoke Colony.

WHAT MAY HAVE HAPPENED TO THE FOLK AT ROANOKE?

Seeing an opportunity: Queen Elizabeth wanted to use a colony in the 'New World' to launch raids against the Spanish
Seeing an opportunity: Queen Elizabeth wanted to use a colony in the 'New World' to launch raids against the Spanish
The Roanoke Colony was an attempt by Queen Elizabeth I to establish a permanent British presence in the New World, and comprises two unsuccessful attempts at settlement.
Elizabeth's intention was to exlpoit the natural riches of the enexplored country, as well as using the colony as a base from which to launch privateering raids on Spanish ships. 
The enterprise was originally financed and planned by Sir Humphrey Gilbert, but was later headed by Sir Humphrey's half brother Sir Walter Raleigh.
An exploration mission led by Philip Amadas and Arthur Barlowe landed at Roanoke Island on July 4, 1584, and established good relations with the Secotan and Croatan tribes. Barlowe returned to England with members of the tribes, who told Sir Walter about the local customs and geography.
Sir Walter ordered another mission in 1585, led by his distant cousin Sir Richard Grenville. The expedition also included Sir Walter's artist friend John White, who was to provide invaluable coastal mapping of the region.
Sir Richard left 107 men to establish a fort and settlement on Roanoke Island, but within a year the colonists had managed to anger the local tribes, leading to open hostilities.
When Sir Francis Drake stopped there in 1586, after a successful raiding expedition to the Caribbean, he offered to provide passage for anyone who wanted to return to England. Everyone accepted. 
When Sir Richard returned with supplies to find the settlement abandoned, he left a small group to retain and English presence.
Sir Walter sent another expedition of 150 people in 1587, let by White. The only evidence they found of the small group left behind was a single skeleton. Relations with the tribes had not improved and, after a settler was killed in Albemarle Sound, White returned to England to ask for help and reinforcements.
'Croatoan': The return of John White in 1590 found none of the 117 settlers of Roanoke Island. The name of a local tribe was carved into a nearby tree - and there is no other evidence of where they went, or why.
'Croatoan': The return of John White in 1590 found none of the 117 settlers of Roanoke Island. The name of a local tribe was carved into a nearby tree - and there is no other evidence of where they went, or why.
Before he could return, England was plunged into the Anglo-Spanish War and all vessels were comandeered to repel the coming Spanish Armada. White was not able to return until 1590. His men could not find any trace of the 90 men, 17 women, and 11 children of the colony, nor was there any sign of a struggle or battle.
Before he left for England, White had arranged a code with the colonists. If they were under attack or forced to flee - a sensible arrangement considering relations with the locals - the colonists were to carve a Maltese cross into a tree.
There was no evidence of such a carved cross, but White's men found two trees. One was carved with the word 'Croatoan' and the other simply with 'Cro'. 
Whether this was a reference to the settlement's assailants, or a indicator that the colonists had gone to live with the Croatans on nearby Hatteras Island, remains unclear. Poor weather and his shipmates' desire to leave Roanoke forced White to abandon his search for the colonists. He never returned.
A voyage by Sir Walter Raleigh 12 years later in 1602 also ended when bad weather forced the expedition to return to England. Sir Walter's arrest for treason prevented him from making any other expeditions.


Read more: http://www.dailymail.co.uk/sciencetech/article-2521140/Is-THIS-lost-Roanoke-Colony-New-radar-imagery-finds-evidence-buildings-near-island-North-Carolina-120-British-settlers-disappeared.html#ixzz3KStIokFG
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Monday, November 17, 2014

Nags Head Realty was shut down after $460,000 in rental revenue vansished

N.C. real estate firm closed after money vanishes

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A Nags Head real estate firm has been shut down after $460,000 in vacation home rental revenue vanished.
Dozens of jilted Outer Banks homeowners are looking for ways to get their money, and many of next season’s reservations may be in jeopardy.
The North Carolina Real Estate Commission agreed Wednesday to revoke the licenses of Nags Head Realty and its owner, Cheryl Wilkins, said Charlie Moody, assistant director of regulatory affairs for the commission.
In recent weeks, property owners reported not receiving rental income checks from Nags Head Realty. Wilkins acknowledged to the commission last month that she could not account for $460,000 in a trust fund for rental properties, according to an email from the commission’s legal counsel, Janet Thoren, to Dalton and Carol Williford, clients of Wilkins’.
“It will be necessary for you to manage your property yourself or to engage another licensed broker to assist you,” Thoren said in the email.
The couple lost $4,800 in rental income, Carol Williford said.
“There are a lot of people who have paid deposits for next year’s rental,” she said. “They’re not going to see that at all. She’s nowhere to be found.”
Wilkins may have managed more than 100 vacation homes, according to Williford, who said she and her husband had not had serious issues with her before.
The commission is trying to contact Wilkins’ clients. Stan White Realty had planned to buy the firm before the money disappeared, Thoren said in the email. She said Wilkins gave keys to the properties she managed to Stan White Realty, where homeowners can pick them up.
Thoren recommended that property owners change the locks on their homes. Maintenance and cleaning crews also might have keys, she said.
Commission staff are assisting District Attorney Andrew Womble with the investigation.
“We follow the evidence,” Womble said. “If it leads to criminal wrongdoing, then we step in and get the justice we can for the victims.”
The investigation could be finished by early January, he said.
Wilkins did not return a call to her cellphone.
Jeff Hampton, 252-338-0159 or jeff.hampton@pilotonline.com