Kathy Byrnes RE/MAX at the Lake

RE/MAX at the Lake gives away first 10G

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 12 Nov 2009 21:24:00 +0000

Today was an exciting day. Early in the Spring RE/MAX at the Lake launched a new program called the 10G program. A former Florida agent from the Palm Beach area told us how they had used the concept to create a 1 in 40 chance for the Buyers agents to win $10,000. Homes for sale that participate in the 10G program pay $250 into a trust fund and once 40 of those 10G homes are closed there is a drawing. The buyers agents that brought the Buyer to the 10G home then become eligible to participate in the 10G drawing.
Today all the agents that had sold the 10G homes from all over the Lake Norman area came to participate and hope they would win the $10,000. No one went away a looser. Each person that was eliminated got a gift card until it came down to the final two. The second place winner was given a complimentary fly over lake Norman with Attorney/Pilot Ben Thomas. He offered to let them fly over their listings for an areal view. Ben was the closing attorney on over 50% of the 10G closings.
The winner was Margaret Johnson from Coldwell Banker in Statesville. She almost didn't come because she had a closing that was switched to 11:30. The entire time she almost left to go to the closing and could have missed out. 4 other agents didn't make it to the drawing either. It was an exciting time and I cant wait for the next drawing. We already have 8 homes closed towards it.
I would love to sell one of the 10G homes myself. All my listings chose to participate in the program to help compel an agent to bring their buyers to at least check the property out. It was all reviewed and approved by the North Carolina Real Estate Commission.
It's just another way thinking outside the box selling is so important in this challenging market. You can couldn't on that from RE/MAX at the Lake and myself.

Charlotte Monthly Stats 10/6-11/5/09

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 11 Nov 2009 19:51:00 +0000

Time on Market

The average days on the market for closings in the reported month is 140.7 days. Of

the reported home sales 42% closed in 121 days or more. This represents an increase

of 6.7 days in closing time over October 2008.

Average List Price of Sold Homes

The average list price of sold homes reported through the CRRA was $218,050. This

represents a decrease of

8.1%

from October 2008.

Average Sales Price of Sold Homes

The average sales price of sold homes reported through the CRRA was $196,204.

This represents a decrease of

9.5%

from October of 2008.

Residential Contracts Reported

There were a total of 2400 contracts reported in October of 2009. This represents a

33.5% increase

in reported contracts from October of 2008 and a 9.1% increase

over September of 2009.

Residential Contracts Closed

There were a total of 2210 contracts that were reported as closed in October of 2009.

This represents a

19.6% increase

in closings as compared to October of 2008 and

a 13.6% increase over September of 2009.

Rules Would Help Avoid Foreclosure

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 04 Nov 2009 21:52:00 +0000

Rules Would Help Avoid ForeclosureThe N.C. Office of the Commissioner of Banks has proposed new regulations that would stop foreclosure once a homeowner asks for a loan modification. Currently, lenders simultaneously pursue foreclosure while working with homeowners who are seeking to modify the terms of their loans, which ultimately leaves homeowners with very little time to avoid foreclosure.

5 Tips on Choosing The Right Days to Market Your Real Estate Services Online

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Tue, 03 Nov 2009 14:41:00 +0000

Via Rebecca Levinson, Real Estate Marketing Consultant (Real Skillz-Clear Marketing for Your Real Estate Vision):

How to Choose the Right Days to Market your Real Estate Services Online
Effective real estate marketing online has a lot to do with timing. There has been a lot of research conducted, mainly for industries outside of real estate (i.e.retail, hospitality, automotive) on the best days and times to market services and products online. Implementing the right timing to deploy marketing campaigns into your online marketing strategy is an effective way to ramp up your results.
Here are 5 tips on choosing the right days to market your real estate services online
1. Tweet Midweek- You can tweet everyday of the week but for maximum effect make sure to tweet on Wednesdays and Thursdays as they are the most active days of tweets and retweets as found by HubSpot's State of the Twittersphere Q42008.
State-of-the-Twittersphere -
2. Publish Your Most Important Blog Posts Midweek
Frequency of great original content is still important in building your readership and traffic to your blog. I recommend to my clients that they blog a minimum of 3-5 times per week to be considered as a true content provider in the eyes of their readers.
That being said when is the best time for a blogger to publish their meatiest, most important blog posts? Darren Rowse of Problogger addresses the timing factor in When to Publish Blog Posts-Timing Considerations,
"If I have a very important post that I want to get as much attention as possible I generally will publish it on a Tuesday or Wednesday morning (my time)."
Rowse's post also gives some advice as to publishing posts on weekends and holidays that is worth the read as well as the comments on the post (82 so far).
Roger Parker of blogforprofit.com recommends that if you were to only blog twice per week to publish those blog posts on Tuesdays and Thursdays.
Clearly publishing your most important blog posts midweek is a winning strategy.
3. The Weakest Link for Email Marketing is Saturday
You may have several email campaigns in your real estate marketing campaign: email flyers, email follow-up, email newsletters. Email marketing is a heavy hitter for real estate professionals but when is the most effective time for you to deliver your messages to your prospects and customers?
According to EMarketer.com the best days of the week to send email marketing are Mondays and Tuesdays and the least effective time by nearly 50% is Saturdays.

The best advice I found and agree with is to survey your email subscribers and ask them when they would like to receive emails from you.
We are approaching the holiday season so it is important to consider the times that people are online and actively shopping. Study these deployment times statistics provided on the emailstatcenter.com website before launching any niche holiday real estate marketing campaigns.
4. Engage your Fans on Facebook on Tuesdays
In findings from Virtue SRM (Social Relationship Manager) the best days to post on your Facebook Business Page is Tuesdays, followed closely Wednesdays with Mondays coming in #3.

**Allow me one deviation~ What I find more or equally fascinating is the 6.49% CLR (Click Thru Rate) of marketing campaigns such as polls and incentives that are run on Facebook business pages. Fans are clearly interacting with their friends on Facebook in a big way and their interactions are also being seen by their friends.**

5. LinkedIn Users Are Active In the Morning
According to a small study by SenderOK Statistics report which was based on a sample of 440 anonymous users the most activity on LinkedIn occurs in the morning.
"LinkedIn use is predominantly an 8AM-Noon activity with very, very little activity in the evening. Of particular interest is that LinkedIn users tend to arrive at work earlier than Facebook users do....Those serious early morning LinkedIn users will spend an average of 29 minutes reading real Email before they get around to checking your connection request which they could have read first if they wanted to."
While this is a small sampling of members on LinkedIn and their behavior I can attest that this mimics my LinkedIn use. The first online activity I do in the morning is to check my email(which of course includes my blog activity) and the first social network site I check is LinkedIn and this occurs normally between the hours of 7:30-8:30 a.m.
Take into consideration the times and days that people are online and engaging in these online activities when you create and implement your online real estate marketing strategy.
Once you taken action use an analytics tool to measure the effectiveness of your marketing campaigns. Tweak the times you deliver your marketing messages based on your analytics and direct feedback from your recipients.
***************************************************

Kathy
Kathy Byrnes REALTORRE/MAX at the Lakehttp://www.kathybyrnes.com/kathy@kathybyrnes.com704-881-3930 cell704-765-4067 fax

North Carolina grants part of $60 million in HUD funding critical to prevent foreclosure

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Mon, 26 Oct 2009 19:24:00 +0000

GREENSBORO - North Carolina families facing foreclosure, seeking affordable rental housing, or hoping to buy their first home will have a greater opportunity to find housing, or keep the homes they have, because of $1,781,863 million in housing counseling grants announced today by the U.S. Department of Housing and Urban Development (see attached list).
“Now, more than ever, it is crucial that Americans understand how to manage their money, navigate the homebuying process,and secure their financial future.” said Donovan. “This critical funding will help counseling organizations continue to assist families in making more informed choices before they buy a home and counsel families facing foreclosure.”
Housing counseling grants will assist families in becoming first-time homeowners and remaining homeowners after their purchase. HUD-approved counseling agencies not only provide homeownership counseling, but also offer financial literacy training to renters and homeless individuals and families.
The funding announced today is part of $60 million in housing counseling grants awarded nationwide. These grants will support the direct provision of housing counseling services by 24 national and regional organizations, 5 multi-state organizations, and 463 state and local housing counseling agencies. In addition, HUD is awarding $5 million to three national organizations to train approximately 4,400 counselors who will receive the instruction and certification necessary to effectively assist families with their housing needs.
National and regional agencies distribute much of HUD’s housing counseling grant funding to community-based grassroots organizations that provide advice and guidance to low- and moderate-income families seeking to improve their housing conditions. In addition, these larger organizations help improve the quality of housing counseling services and enhance coordination among other counseling providers.
Counseling agencies will use $8 million to help assist senior citizens seeking reverse mortgages or Home Equity Conversion Mortgages (HECM). These agencies will provide counseling for the rapidly growing number of elderly homeowners who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs, and other living expenses.
The organizations that provide housing counseling services help people become or remain homeowners or find rental housing, and assist homeless persons in finding the transitional housing they need to move toward a permanent place to live. Grant recipients also help homebuyers and homeowners realistically evaluate their readiness for a home purchase, understand their financing and downpayment options, and navigate what can be an extremely confusing and difficult process.
In addition, grantees help combat predatory lending by helping unwary borrowers review their loan documentation, and avoid unreasonably high interest rates, inflated appraisals, unaffordable repayment terms, and other conditions that can result in a loss of equity, increased debt, default, and even foreclosure. Likewise, foreclosure prevention counseling helps homeowners facing delinquency or default employ strategies, including expense reduction, negotiation with lenders and loan servicers, and loss mitigation, to avoid foreclosure. With foreclosures at critical levels nationwide, these services are more important than ever.
HUD awards annual grants under the housing counseling program through a competitive process. Organizations that apply for grants must be HUD-approved and are subject to biennial performance reviews to maintain their HUD-approved status.
###

Charlotte firm plans biomass power plant

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 15 Oct 2009 23:32:00 +0000

Charlotte Business Journal

A Charlotte developer hopes to build a 50- to 100-megawatt biomass power plant as part of a proposed 667-acre clean-energy park northwest of the city.
Tom McKittrick of Forsite Development Inc. outlined the plan Thursday afternoon at the Third Annual Green Conference sponsored by the Charlotte and Gaston chambers of commerce at Pine Island Country Club.
The project, called ReVenture Park, would straddle the line between Mecklenburg and Gaston counties.
McKittrick predicts the clean-energy park could create 1,000 jobs and attract more than $1 billion in investment. The proposed site includes the current home of CoaLogix, a company that specializes in technology to remove pollutants from coal-plant emissions. McKittrick says the plan would be for CoaLogix to remain in the clean-energy park.
He said plans are in very early stages and are speculative. But McKittrick hopes to start construction of the plant, or a possible wastewater treatment facility, on the site in 2010. That would qualify either of the projects for federal stimulus funds.
He said the projects can be built without the stimulus funds but would be much more difficult to accomplish.
McKittrick estimates the biomass plant, which would burn landfill waste from Mecklenburg, Gaston and other area counties, will cost around $500 million to build. He says a key to the project will be getting Duke Energy Carolinas or another utility as a partner to buy the power plant’s output. He says Duke is generally aware of the proposed park, but he is only now preparing to have initial talks with Duke representatives.
McKittrick is in early talks with Charlotte/Mecklenburg Utilities about the possibility of building a $300 million wastewater plant on the site. He says that developing the plant privately and leasing it to CMU could qualify for the project to get up to 30 percent of the costs back in federal stimulus money. He says CMU has expressed some interest in the idea, but he emphasized the talks are preliminary.
In fact, the entire energy park is clearly more of a concept for now than an actual project. Forsite has an option to buy the property, which is listed as an Environmental Protection Agency Superfund site. The property, owned by Clariant Corp., includes a former chemical plan. That’s the source of the on-site contamination that affects about 345 acres of the tract.
Clariant has stabilized the pollution on the site. And McKittrick says the EPA has agreed to delist it as a Superfund site. The affected acres will be designated a brownfields area by the N.C. Department of Environment and Natural Resources. That will allow Forsite to develop the land without incurring the environmental liability that attaches to a Superfund site.
Getting the state brownfields designation is likely to take six months or longer. In the interim, McKittrick says, Forsite will buy the “clean” part of the 667 acres — a little less than half— and subdivide it for development.
His plans include a 4-megawatt solar-power plant on the site. That would provide essentially all the power needed for businesses there. Other operations in the park would include a company that converts traditional gasoline vehicles to propane power, according to the preliminary plan. And McKittrick says he is talking to UNC Charlotte about the possibility of putting a green-development research facility on the site.
The heart of the plan is the biomass plant, he says. The plant would burn fuel processed from waste material at regional landfills, industrial waste and other sources. He says the garbage would be processed into a fuel elsewhere and then shipped to the plant.

Can Bad Credit Keep you From Being Hired | Parade.com

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Mon, 05 Oct 2009 00:13:00 +0000

Can Bad Credit Keep you From Being Hired | Parade.com

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True Christian Spirit Alive & Well in Mooresville

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 03 Sep 2009 13:17:00 +0000

I moved to Mooresville North Carolina almost 5 years ago. I came from Michigan to start my life on a new path. My daughter knew it was important for me to find a great Church to be a part of and it needed to be non-denominational. I was a fairly new Christian having resisted Religion all my life. She took me to The Cove and I liked it's laid back style and clear message so refreshing and enlightening right away.

I have watched this Church grow as I have grown in my faith. I joined a life group that meets weekly to study the Bible. That has been so wonderful to get to know people in the area and grow some very special friendships. I volunteer on the parking team once a month and love love love that!

The latest exciting thing I have seen the church do is our current Going Banana's campaign helping local people in trouble. We had been so focused on helping people outside of our area and then one day they did a sermon asking who needed help within the church and the pastors were amazed at how much need there was right in our own Church. People said they needed money for medical, car, food, house payments and it added up to almost $80,000 of need.

So they did something amazing about it. They gave all the donations for the weekend to those people who said they needed help. They asked those who could give to give more and they raised over $120,000. All those $80,000 worth of need was then taken care of and they went to Food Lion and bought over $30,000 worth of food to help even more people. Last week they started giving out that food to needy families all over the area. The parking lot was crazy that weekend and we worked our tails off and it was the most exhilarating thing I have ever been a part of. People helping people. True Christian spirit at work.

Read about the stories for yourself. Come discover a Church that will help you in all areas of your life. Be a part of something bigger than you. It's life changing and uplifting especially in times that are so challenging. You can find joy!

God Bless

Pending U.S. home sales jump in July

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 02 Sep 2009 14:30:00 +0000

Charlotte Business Journal

First-time home buyers kept pending home sales climbing for the sixth consecutive month in July, according to the National Association of Realtors.

The group’s Pending Home Sales Index jumped 3.2 percent in July to 97.6. The index is 12 percent higher than in July 2008.

“The recovery is broad-based across many parts of the country,” says Lawrence Yun, chief economist for the association. “Housing affordability has been at record highs this year with the added stimulus of a first-time-buyer tax credit.”

The index was up in the South and West but declined in the Midwest and Northeast.

The NAR’s Housing Affordability Index for July was 158.5, up 36 points year over year.

Yun says home sales will likely drop in next year’s first quarter if the tax credit isn’t extended.

“However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010,” he says.

Existing-home sales figures for August will be released Sept. 24, and the Pending Homes Sales Index for the month will be released Oct. 1, the association says.

Tire-testing facility seeks space in Charlotte region

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 27 Aug 2009 18:12:00 +0000

Charlotte Business Journal

consortium of auto and motorsports companies has committed to finance a tire-testing facility in the Charlotte region that could require an investment of “tens of millions of dollars.”

The project, called Camber Ridge, will help drive research for the industry as it prepares for federal electronic stability control requirements. The new mandate hits the auto industry in 2011.

Carmakers and motorsports companies will have other needs for testing facilities such as Camber Ridge, says James Cuttino, director of the N.C. Motorsports and Automotive Research Center at UNC Charlotte.

“It’s driven specifically by the needs of industry,” he says. Cuttino is taking a leave of absence from UNCC to start the business.

Humpy Wheeler, chairman of Charlotte Regional Partnership, says the facility will become “another anchor for the development of the auto industry” in the Charlotte area.

Specifics of financing, location, size and employment were not disclosed. One source suggests Camber Ridge’s search in the region would be for a site that could accommodate a 50,000-square-foot building.

Cuttino says he expects the first tests will be run in the facility in two years.

Ronnie Bryant, partnership president and chief executive, says the building and site will need room for expansion. He also mentioned that Camber Ridge may need only about 5 acres to build the facility.

Cuttino says automaker and tire manufacturers need a test laboratory such as Camber Ridge because no single manufacturer could afford to develop it. Initial investment will involve “tens of millions of dollars,” he says.

Entities that Cuttino calls his affiliates will provide financing. He declines to name those financial partners.

The National Highway Traffic Safety Administration estimates that mandating stability controls on cars will save up to 9,600 lives annually and prevent as many as 323,000 crashes.

The controls take over braking and other automobile capabilities when a vehicle skids or tips on the highway.

Cuttino says he’s spent the past 18 months investigating the need for such a test facility. Wheeler says Camber Ridge’s computer-driven equipment will in some cases replace a need for auto test sites that cost up to $150 million to develop. Such automobile-research facilities include test tracks that can measure seven miles.

Five Ways to Wow Buyers

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 27 Aug 2009 15:15:00 +0000

by Phoebe Chongchua

These days, tax credits and high housing inventory make it a buyers’ market. If you’re a seller, don’t despair. There are a variety of renovations that can help make your home stand out. Many buyers look at numerous homes when shopping for a house; so enhancing your home to make it more memorable is vital and increases the chances of a successful sale.

Clearing clutter, taking down personal photos, applying a fresh coat of paint, making minor repairs, and keeping a pleasant aroma are all basic techniques to make your home more appealing. But there are a few other creative enhancements that you can do to wow buyers without emptying your wallet. The results not only attract more attention, but also paint a picture of a well-cared-for home.

While not everyone has the same taste in housing, typically buyers are attracted to larger kitchens, extra storage space, light and bright rooms, and open floor plans. Special finishing touches on a home can be the needed incentive to generate an offer.

Kathy Gerstenberg has owned her home for nearly 20 years. Over the decades she’s made many improvements but now she’s considering selling and wants to make sure she gets top dollar in a down market. So, she’s examining her home the way a buyer would.

“We live in a tract home and I know there are many homes for sale; we don’t want ours to be seen as the same ‘cookie-cutter’ model as the others,” says Gerstenberg.

With that in mind, Gerstenberg has carefully made enhancements that make her home more comfortable and aesthetically pleasing. “I wanted to do improvements that would catch a buyer’s eye and also make it enjoyable for our family,” says Gerstenberg.

As she scouts the market for her next home there are various aspects of a potential home that she notices right away. “I love crown molding and finished doors and windows,” says Gerstenberg. She adds, “So many times builders just don’t complete the look of a home but when you frame a door or window and add some crown molding to a room it gives it a finished look.”

Industry experts agree; Americans are expected to spend $217 billion on remodeling in 2009. Here are five areas where homeowners may spend some of their remodeling money to add the “wow” factor to your home.

1. Go green. Energy efficient products and household goods are attractive to buyers. Renovations or replacements that help make the house more energy efficient are popular. Things such as better insulation, replacing old windows, caulking, and adding skylights can increase value.

2. Crown molding and wider baseboards. Some homeowners are shy to experiment with this, especially if they live in a small home, but it can be very attractive in any size home. Wider baseboard. The measly baseboard that builders often use in tract homes doesn’t draw attention. Adding a wider baseboard and a fresh coat of paint makes the room come to life. Also, framing windows and doors helps complete the look of a room.

3. Textured paint. Faux finishes, accented walls, or even just a little fresh paint on them makes a lasting impression. Choose colors and textures wisely. Don’t get carried away with a color you love (e.g. purple walls—I’ve seen it in a home for sale). Remember, that you want your home to appeal to the masses. You can always paint your new home purple—and then change it when it comes time to sell it!

4. Improved flooring. Wood, tile, and new carpet can be a showstopper. But if the flooring is chipped, torn, or dirty, you’ll get the opposite reaction from buyers. They’ll think your home hasn’t been cared for properly which could result in a lower offer -- or no sale at all.

5. Add a deck. Adding a deck can add value to your home. It’s a nice feature in a yard and many buyers are happy to purchase a home that already has a deck so that they don’t have to take on that home improvement project.

Copyright © 2009 Realty Times. All Rights Reserved.

Bernanke gives upbeat assessment

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Sun, 23 Aug 2009 17:30:00 +0000

Charlotte Business Journal

In his most optimistic economic forecast since the financial markets plunged nearly a year ago, Federal Reserve Chairman Ben Bernanke says, “The prospects for a return to growth in the near term appear good.”

Bernanke made the comments Friday in a speech at an annual Fed event in Jackson Hole, Wyo.

It’s the latest in a string of increasingly hopeful pronouncements from Fed officials that the recession will soon be over — or might be already.

Earlier this month, the Fed said “economic activity is leveling out.” And in late July, it said the Western states were among four of its 12 regions of the country where the economy was showing “signs of stabilization.”

Other statistical indicators have pointed toward the same conclusion over the past two months — though this week’s dip in consumer spending and unexpectedly sharp growth in new unemployment claims suggest that any recovery is tentative and fragile.

Indeed Bernanke, in a speech that charted key events over the course of the downturn, said the credit markets remain constricted and financial institutions could expect additional losses on underperforming assets.

“The situation is not back to normal,” he said.

Buffett: Economy recovering, debt a threat

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 19 Aug 2009 17:03:00 +0000

Charlotte Business Journal

Nebraska billionaire investor Warren Buffett believes the U.S. economy is improving. However, he says the financial price of the federal stimulus package and other big spending bills are looming as a new threat.

Buffett, chairman of Berkshire Hathaway Inc. (NYSE:BRK), wrote a guest op-ed for The New York Times in Wednesday’s edition titled “The Greenback Effect.” It says that while mistakes were made in attempts to end the recession and restart the lagging economy, a meltdown of our economy was avoided by a “gusher of federal money.”

“The United States economy is now out of the emergency room and appears to be on a slow path to recovery,” Buffett wrote. “But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects.

“For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself.”

He says the country’s “net debt” — that which is publicly held — is mushrooming. While much of the driving force behind the economic-recovery plans lies with President Obama’s executive branch, the U.S. Treasury Department and the Federal Reserve, Buffett says the ultimate solution to the debt problem lies with the U.S. Congress.

“Our immediate problem is to get our country back on its feet and flourishing — ‘whatever it takes’ still makes sense,” Buffett wrote. “Once recovery is gained, however, Congress must end the rise in the debt-to-GDP ratio and keep our growth in obligations in line with our growth in resources.”

In July, Buffett told cable TV network CNBC that it’s a good time to invest in stocks, even with the Dow Jones Industrial Average having recovered to rise beyond 9,000. In that interview, he said investors shouldn’t wait until businesses turn around before investing in stocks again.

“If you wait until you see the robin, spring will already be over,” he said at the time.

Fed sees signs of recovery

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 13 Aug 2009 18:45:00 +0000

Charlotte Business Journal

Federal Reserve policymakers have ended their two-day meeting on interest rates leaving rates unchanged, indicating they will stay low for a while longer.

In addition, they will slow the pace of the program to buy $300 billion in U.S. Treasuries.

“To promote a smooth transition in markets as these purchases of Treasury securities are completed, the committee has decided to gradually slow the pace of these transactions and anticipates the full amount will be purchased by October,” policymakers said in a statement.

That would be one month later than the Treasury purchase program was originally scheduled to end.

The Fed’s benchmark interest rate remains at 0 to 0.25 percent.

“Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out,” the Fed’s statement said. “Conditions in financial markets have improved further in recent weeks.”

The Fed also noted significant challenges remain, citing constrained household spending, sluggish income growth, lower housing wealth and tight credit. And it says businesses continue to cut back on fixed investment and staffing, while making progress in bringing inventory into better alignment with sales.

The Federal Reserve did not alter its plan to buy up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year, a key part of its efforts to improve conditions in private credit markets.

What causes mortgage rates to move | HULIQ

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 12 Aug 2009 17:40:00 +0000

What causes mortgage rates to move | HULIQ

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Charlotte Home Sales Up in July

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Tue, 11 Aug 2009 12:31:00 +0000

Charlotte Business Journal

The number of residential real estate closings in the Charlotte market rose 9.8 percent in July from June. However, the average sales price fell 2.6 percent.

The market posted 2,223 closings in July, up from 2,024 in June, according to the Charlotte Regional Realtor Association. The average sales price in July dropped to $212,977 from $218,728 in June.

Closings and sales prices are down significantly from a year ago.

Last month’s closings fell 18.3 percent from the market’s 2,721 closings in July 2008. The average sales price was down nearly 7.7 percent from the $230,632 of a year earlier.

The average listing price of houses sold last month was $238,629, down 2.3 percent from June’s listing price of $244,316. The average listing price fell 3 percent from $246,128 a year earlier.

Newcomer helps job seekers find work - CharlotteObserver.com

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Sun, 09 Aug 2009 17:48:00 +0000

Newcomer helps job seekers find work - CharlotteObserver.com

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Mortgage rates remain steady

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Fri, 07 Aug 2009 11:40:00 +0000

Charlotte Business Journal

Mortgage rates are steady and remain low, with long-term rates falling just a fraction this week.

Freddie Mac (NYSE:FRE) says the average 30-year fixed-rate mortgage was 5.22 percent this week, down from 5.25 percent last week.

A year ago, 30-year mortgages were averaging 6.52 percent.

“Better-than-expected economic reports helped to keep mortgage rates low this week,” says Frank Nothaft, chief executive of Freddie Mac. “The economy slowed by an annual rate of 1 percent in the second quarter, which was more positive than market forecasts.”

The National Association of Realtors this week said pending sales of existing homes rose for the fifth consecutive month in June. That’s the longest streak of rising home prices by that measure in nearly six years.

What would you do for Eight Thousand Dollars? Would you buy your first house? Watch this video and find out how!

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 05 Aug 2009 14:12:00 +0000

Go to the Free First Time Home Buyers Seminar
August 29th and learn How You Can Benefit!

Guideance on How to Stop Your Home From Foreclosure

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 05 Aug 2009 14:02:00 +0000

Buffett: Now is time to invest in stocks

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Sun, 26 Jul 2009 23:51:00 +0000

Billionaire investor Warren Buffett says now is a good time to invest in stocks, despite the Dow Jones Industrial Average topping 9,000 for the first time since the beginning of the year.

Buffett, speaking in a live interview Friday on the CNBC television network, said he would much rather own stocks with the Dow at 9,000 than have a long position in U.S. Treasuries right now.

He said business is still flat, but investors shouldn’t wait until companies turn around before reinvesting in stocks.

“If you wait until you see the robin, spring will already be over,” the chairman of Berkshire Hathaway Inc. (NYSE:BRK-A) said.

Buffed issued a warning about inflation, saying the dollar would buy less 10 years from now than it does today. But he said the actions taken today to pull the economy out of recession are not wrong just because they may cause inflation.

Buffett was on the business cable network to promote his partnership in a new series of Web-based educational cartoons known as The Secret Millionaires Club. He said the idea behind the cartoons is to help entertain children and young people while delivering an educational message, such as warning about the dangers of credit-card debt.

Charlotte Business Journal

Improve Your Homes Marketability Prior to Listing

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Thu, 16 Jul 2009 15:22:00 +0000

Taking care of necessary repairs before putting your house on the market is important for yielding a top price and ensuring a quick, hassle-free sale. The most common areas of concern are the roof, gutters and downspouts. Repair of missing or peeling exterior paint may also be a condition of the loan. The following are some simple repairs that make a huge difference in marketability and sale price:

* Replace washers in leaking faucets
* Fix handrails and repair steps
* Replace light bulbs and fixtures where necessary
* Make sure windows open and close
* Eliminate wood to ground contact around the house
* Replace loose or damaged tile or vinyl

First Time Home Buyers Seminar

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Sat, 11 Jul 2009 15:09:00 +0000

Platinum Funding Solutions is hosting a First Time Home Buyers Seminar with the sole purpose of educating people on the $8,000 tax credit, the in's and outs of buying a home, if they qualify, down payments, available loans etc.. Along with this will be vendors able to meet with the attendees to answer questions and give aways.

There will be a drawing for prizes and a goody bag for all attending.

Seating is limited so please register online at the above link which also has the contact information if you prefer to call.

A free credit report will be available as well.

Date is August 29th at the Northstone Country Club

Go to the website for full details. Looking also for additional vendors that would like to meet First Time Home Buyers.

Microsoft teams with N.C. Research Campus

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 08 Jul 2009 20:01:00 +0000

Charlotte Business Journal - reprint

A partnership between the David H. Murdock Research Institute and Microsoft Corp. will bring some of the software giant’s newest technology to the N.C. Research Campus in Kannapolis.

Microsoft’s Amalga Life Sciences software system will help the discovery process at the Kannapolis campus, says Kenneth Russell, chief information officer at the David H. Murdock Research Institute. The software allows researchers to streamline large and disparate amounts of health-care and life-sciences data so it can be efficiently accessed by researchers, he says.

The institute supports the David H. Murdock Core Lab and research efforts at the 350-acre campus. The life-sciences hub focuses on human health, nutrition and agriculture.

“It’s that new discovery that we’re looking for,” Russell says.

Redmond, Wash.-based Microsoft (NASDAQ:MSFT) introduced the software in late April.

Details of the partnership are being developed. Microsoft could not be reached for comment.

Russell says the research campus provides Microsoft with an environment where it can further develop and advance its technology. He notes the site’s strong research base and state-of-the-art equipment.

Eight N.C. universities and the state’s community college system will have a presence on the research campus.

Powerball winner has 'lottery freak' to thank - CharlotteObserver.com

noreply@blogger.com (Kathy Byrnes Re/Max at the Lake) — Wed, 24 Jun 2009 19:25:00 +0000

Powerball winner has 'lottery freak' to thank - CharlotteObserver.com

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