Tamara's Blog

It's Time To Get LUCKY

Tamara Heyward (Self-Help) — Wed, 04 Feb 2009 16:37:36 -0600

When we bought our first home, we made a substantial downpayment. We raided our savings accounts and borrowed from our parents. We sweated as the lender combed our credit reports and turned their noses up at our income, student loan debt, self-employed status and work history. We panicked as the lender demanded a lot more money days before closing. And finally we closed. WE WERE LUCKY.

We were lucky that we had savings. Lucky that we had parents that wanted this home for us as much as we wanted it for ourselves – and had the money to help us. Lucky that we found an affordable home in what turned out to be a great neighborhood.

Some people aren’t that lucky. They may be working hard at their job, or at getting an education. Working hard at cleaning up (or maintaining) their credit. Working hard to achieve their piece of the American Dream – which lately seems out of reach for more people. Some people don’t have luck, high paying jobs, or parents waiting in the wings with a checkbook. But they work and they contribute to our economy and our society. Should they have a chance at their piece of the American Dream? I BELIEVE SO.

That’s why I enjoy my work so much. I get to work with first time homebuyers. I get to help them buy an energy efficient, new construction home. I get to help them get a fair mortgage loan with a fixed interest rate. I get to tell them that their city and their state are waiting in the wings with a checkbook, ready to help them make the downpayment that guarantees a low monthly mortgage payment, and helping to ensure that as they move ahead in life, their home can truly be a foundation for wealth.

So many people don’t know that these options are available to them. There are four non-profit developers working in our current neighborhood alone. We don’t have big marketing budgets, so we take alternate approaches. We visit local employers, homebuyer workshops, community events, churches, schools – anywhere we can find ONE PERSON we can help to become a homeowner. We even hire Realtors to list our homes:).

Government deregulation is getting a lot of heat right now as a cause of the mortgage industry meltdown. BUT DEREGULATION WAS NOT AND IS NOT THE ONLY GAME IN TOWN. The government also funds developers and lenders to build affordable homes and make affordable loans.

TO REAL ESTATE AGENTS - If you are working with first time homebuyers, find out about city and state sponsored second loan programs and community developers in your area. Many people come to us thinking that they have to make more money, save more money, and have a high credit score to purchase a home. Some REAL ESTATE PROFESSIONALS thought the only way to get people without a big income and big savings account into a home was with an exotic mortgage. NOT TRUE!

TO FIRST TIME HOMEBUYERS – If you are looking for your first home, do your research. Find out what is offered by local community and non-profit developers. Find out what types of loans are offered by city and state organizations and local, community banks for first time homebuyers. If your lender can’t tell you about these programs – about whether they are available in your area, and explain why they are or are not a good idea for you, FIND ANOTHER LENDER. Same for your REAL ESTATE AGENT (they should at least be able to point you towards the right person to talk to).

Here in North Carolina, there are lots of organizations that exist to service first time homebuyers, and buyers who want a home that can be financed with an affordable, fixed rate mortgage loan. Here’s a short list:

North Carolina Housing and Finance Agency

City of Durham Housing and Community Development

Habitat for Humanity

Self-Help Credit Union

Self-Help CDC

Builders of Hope

Durham Community Land Trustees

Orange Community Housing and Land Trust

Rebuilding Broken Places CDC

BB&T

If you are not in an area served by these organizations, use these as a springboard. Look for similar organizations in your city or state.

Free Tax Preparation in Durham, NC

Tamara Heyward (Self-Help) — Fri, 30 Jan 2009 16:11:01 -0600

The local Durham volunteer network has posted the schedule for the Volunteer Income Tax Assistance (VITA) program on their website. Free tax preparation is available at several sites throughout Durham, NC.

You can see a full list of locations and the schedule for free tax prep by clicking this link:

http://www.law.duke.edu/student/act/vita/index.htm

You may also call the Duke Law Info Hotline for an updated calendar at (919) 613-8526.

Across the state of North Carolina, the State Employees Credit Union is also offering free tax prep through VITA at all of its branches. SECU is also offering a Tax Refund Express Loan, which allows filers immediate access to their refund, but with much lower fees than they would pay at most tax preparation locations.

See information at SECU tax prep at http://www.ncsecu.org/Services/VITAFreeTaxPreparation.html

There is an income limit for eligibility – in 2008, it was $42,000 per household. I have been encouraging those interested in buying their first home with Self-Help CDC to take advantage of this program. Free tax preparation allows filers to avoid the fees charged by tax preparers for refund anticipation loans and other high fee products. Filers still receive their refund quickly (8-15 days with direct deposit to their bank account). In many cases, this refund is enough to help them purchase a Self-Help home.

Don't live in Durham or in North Carolina? VITA is a nationwide program. Visit the IRS website for more information.

Please help spread the word about free tax prep!

How to Get $78 From Bank of America

Tamara Heyward (Self-Help) — Fri, 30 Jan 2009 15:58:06 -0600

I recently received this release from our sister organization, the Center For Responsible Lending. Thought I'd pass it along...

How to Get $78 From Bank of America

If you were hit with an overdraft fee from Bank of America (BAC) (or one of the banks it acquired) between 2000 and 2007, you may be in for a little cash.

Bank of America recently settled a class-action lawsuit that alleged it (and by extension, Fleet Bank, LaSalle Bank and U.S. Trust Company, which it acquired during that period) changed the posting order of transactions and embarked on other activities in order to increase the revenue it received from non-sufficient funds fees, overdraft fees and similar charges. The lawsuit, which was settled for $35 million, also alleged that the bank failed to warn customers that certain transactions were triggering fees. Even though Bank of America denies any wrongdoing, it is agreeing to pay up to $78 per account holder.

That amount, however, is only a fraction of the $368 the average household pays for overdraft fees each year, according to Bretton Woods, a financial services advisory firm.

Invoking fees has turned into a booming business for the banks. Banks and credit unions brought in more than $37 billion in overdraft fees in 2008. Increased competition for deposits amid the credit crunch and rising defaults has led banks to rely more heavily on fee revenue than on income from loans, explains G. Michael Flores, CEO of Bretton Woods. “They have to bid down on what they charge for a loan and bid up on what they offer in interest [on savings],” he says. And there are even a few banks that have squeezed the margin so much that fee income is all they have.

As a result, banks are making it so easy to trigger fees that even diligent checkbook-balancing consumers are being forced to pay up for overdrafts, non-sufficient funds and returned checks. Most banks, for example, reorder daily transactions so that purchases clear in order from largest to smallest, with any deposits posting last. “Right now, consumers don’t have a choice whether to use this unsolicited line of credit or not,” says Chi Chi Wu, a staff attorney for the National Consumer Law Center, a consumer advocacy group. “They often trip it unknowingly.” (For more sneaky overdraft traps -- and ways to avoid them -- click here.)

Consumer advocates are hopeful that the Federal Reserve will soon pass rules governing overdraft fees. Before the Fed passed new credit card rules in December, it withdrew a section allowing consumers to opt out of a bank’s overdraft protection. The Fed has said it plans to re-address overdraft fees as a separate issue sometime this year.

In the meantime, there’s no downside to claiming a little free money from fees already incurred. Here’s how Bank of America customers can qualify for and claim the cash:

Deadline: May 1, 2009.

Eligibility: Payouts are for account holders at Bank of America or its acquired banks. You must have been charged an insufficient funds fee, overdraft fee, returned item fee, or similar fee within a set period of time: Bank of America (Dec. 6, 2000 through Dec. 31, 2007), Fleet Bank (April 1, 2004 through Dec. 31, 2007), U.S. Trust Company (July 1, 2007 through Dec. 31, 2007), or LaSalle Bank and LaSalle Bank Midwest (Oct. 1, 2007 through Dec. 31, 2007). During that time, you must also have had access to your account through a debit or other bank card.

Payout: Up to $78 per claimant, depending on the number of claims. Filing Procedure: Fill out the forms online, or print out a version to mail in. Simply provide your name, address, telephone number and a few details about eligibility (dates you were a customer and the eligible account number). You do not need to detail specific instances when you were charged a fee. If you’d rather not send your account number, you can specify your home address at the time you believe a fee was incurred.

1http://www.smartmoney.com/quote/BAC/

2http://www.smartmoney.com/spending/deals/5-sneaky-overdraft-traps-23679/

3http://www.smartmoney.com/spending/deals/Fed-to-Crack-Down-on-Credit-Card-Issuers/

4http://clossonsettlement.com URL for this article: http://www.smartmoney.com/Spending/Deals/BofA-Customers-Notch-Small-Windfall-in-Settlement/

The New American Home - Made Right

Tamara Heyward (Self-Help) — Tue, 27 Jan 2009 14:12:53 -0600

Below is a great post from Jeff Geoghan about sustainable design in general, and the Make It Right Foundation that is building sustainable homes in post-Katrina new Orleans. Jeff makes some great points about how sustainable equals practical and affordable, which is a definite departure from the conventional wisdom on green building.

Via Jeff Geoghan MBA - Lancaster PA Real Estate Expert (The Jeff Geoghan Realty Group, Coldwell Banker Lancaster PA):

For the last 25 years, industrious American pioneers have been laying the groundwork for a new revolution.

With developable land diminishing and existing homes aging, the time is coming and is here now for Americans to look for the better option in homebuilding - what has been termed "sustainable design" or "green building". All politics aside, the trend towards better homes benefits all Americans who want a better life for their children.

Why would a homebuyer do well to look at a new sort of design? The benefit of owning a home boil down to the following:

Equity building over the life of the ownership - the longer the better. Our parents lived in cramped post-World War Two homes for 50 years - we can do it, too.

A safe, stable environment for our children to learn, play and grow. We can tailor our homes to fit our family's lifestyle.

Participation in a community. Yes, this is coming back strong after a generation lost in the suburban wasteland. Community is a strength, and common bonds of ownership cement that.

The new homes being designed to be sustainable enhance every aspect of the home ownership experience.

Homes built with longevity coupled to efficiency are more likely to cost less and appreciate faster, allowing homeowners to put increasing amounts of their utility and repair dollars back into the family fund. And we don't need to sacrifice space or convenience in the new breed of home design - quite the opposite. Spaces are intelligently designed for real living and convenience is the pairing of cutting-edge technology with new, affordable methods (instant-on hot water heaters being a current example of this).

A home that is "green" designed put the health and welfare of the occupants first. By looking at the various systems and materials that we come into contact with, the new home designer works hard to eliminate toxic compounds that adversely affect air quality, and designs the home to be almost self-sufficient, relying more on natural energy sources such as the wind, sun or rain. By removing the hazards and adding cleaner, reliable systems the home of the future will be incredibly stable and safe for families.

The rise of the "green building" and "green remodeling" movement, coupled with the increased interest in home projects to improve the sustainability of a building, have created a new community that reaches from neighborhoods to nations. There's a vested interest that environmentally-responsible homeowners have that is shared. One needs only to look at Brad Pitt's "Make It Right" New Orleans home building initiative to see the energy and sense of community fostered when folks decide to do home building a new way.

It's exciting to be at the cusp of a new era in home building. Many innovative builders are stepping out from traditional design and seeking new options in home design. Other builders are adding "green" features every day to their existing home plans, in response to the demand. And the real winner is YOU!

It's a great time for real estate professionals to step out, too. The cadre of Realtors who have taken on the task of educating the public on their new home building options have a lot say, too. Those who are Activerain bloggers hold in their hands a great tool, the nation's most influential network of local real estate practitioners. We have the opportunity to get excited about what Mr. Pitt is doing in New Orleans and encourage him and his team to share their home plans, plans for affordable, smart structures that meet the needs of families. Let's take a first step by contacting the "Make It Right" foundation, asking that they offer the plans to green builders and communities for a nominal price - in the interests of pushing the home revolution that much further along in 2009. We can all benefit from the amazing work being done in Louisiana - let's contact Mr. Pitt to say so.

Organizations like the "Make It Right" Foundation are doing the work of building the home of America's future today. And it's happening in your community too. I'm excited to be here, now, watching the next evolution in the American home take place. The question is, are you?

For further reading:

Green Building Is No Mystery - It's Bettter Building (National Assn. Of Homebuilders)

Built Green, But Maybe We Should Have Called It Built Better (Built Green Colorado)

Innovative Products & Processes (Toolbase.org)

Homebuilders Can Build An Affordable Green Home (HousingZone.com)

The Green Home Guide (U.S. Green Building Council)

Why Build Green? (GreenHome.com)

Jeff Geoghan is a Realtor in Lancaster County, Pennsylvania focusing on Green real estate ideas & projects. As an advocate of greener living in Central PA, Jeff is the author of www.LancasterCountyBlog.com and offers advice and presentations of the benefits of buying & remodeling green.

For Sale - Sustainable Design, Affordable Price

Tamara Heyward (Self-Help) — Thu, 18 Dec 2008 09:36:37 -0600

Tamara Heyward | Self-Help CDC | 919-956-4423

1020 Kent Street, Durham, NC

NC Sustainable Design Competition Winner

3BR/2BA Single Family House

offered at $120,000

Year Built	2008
Sq Footage	1,180
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	5,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

NC Sustainable Building Competition Winner! This 3 bedroom, 2 bath home is designed for comfortable and sustainable living. The one story floor plan features an open kitchen and living area, three spacious bedrooms, and is wheelchair accessible. Additional sustainable features include Energy Star appliances and ceiling fans and an energy efficient heating system. Drought resistant landscaping and a rain barrel help to decrease the cost of maintaining the lawn. Stained concrete floors and low VOC paints decrease indoor air pollution and provide a safer, more comfortable living environment. 1020 Kent Street meets SystemVision standards for comfort and energy efficiency, and comes with a two year heating and cooling bill guarantee.

Purchase of this home is available to first time homebuyers who intend to occupy the home as their principle residence.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Dishwasher
Refrigerator	Stove/Oven	Laundry area - inside
Yard

OTHER SPECIAL FEATURES

Open Floor Plan

Universal/Wheelchair Access

EnergyStar Appliances

Super Efficient Central Heating and Cooling System

Sustainable Design Home

Drought Resistant Landscaping

Low Allergen Flooring - Stained Concrete and FLOR Carpet Tiles

Passive Solar Design

Special Financing for First Time Homebuyers

ADDITIONAL PHOTOS

Seller contact info:

Tamara Heyward

Self-Help CDC

919-956-4423

For sale by individual owner

Equal Opportunity Housing

Posted: Dec 12, 2008, 8:34am PST

What Will You Buy With Your TAX REFUND?

Tamara Heyward (Self-Help) — Mon, 01 Dec 2008 14:39:49 -0600

Tax season is coming up fast. For some of those who anticipate a refund, that wonderful lump sum is a great way to pay down some bills. For others, it's party time - new car, new clothes, new furniture, maybe even a vacation.

But would you believe that your tax refund can get you into a new house? Yes, I've been watching the news. Yes, I know that many lenders are requiring hefty down payments, or not lending at all. And no, I haven't fallen completely off the turnip truck.

At Self-Help, we've been making responsible loans for over two decades, and selling affordable homes since 1996. From the front lines, I can tell you - it is possible for first time homebuyers without perfect credit to purchase a home with a low downpayment. And a fixed interest rate mortgage.

So, back to this tax refund thing. We're building new homes across the state of North Carolina in the $95,000 to $120,000 price range. We offer some really great features you wouldn't expect in this price range (check them out here), and we help our buyers access low and no interest second mortgages that make their mortgage payments truly affordable.

Our average buyer that uses financing from our partner credit union (Self-Help Credit Union), can purchase with as little as 3% contribution - that includes closing costs. That means as little as $3,000 could move you into a new home, with an affordable fixed rate mortgage.

Interested? Give me a call at 866-265-3488, or drop me an email at Tamara.Heyward@Self-Help.org. We're currently building in Durham, Greensboro, Goldsboro, and Charlotte. A quick phone interview or email form tells you if you qualify - see the (not so) fine print below.

Here's the fine print. Notice that it's the same size as the rest of the print (smile):

You should be a first time homebuyer. Just means you haven't owned a home in the past three years.
You should live in the home, and not rent it out. We work hard to put together a great opportunity, because we believe that long term homeownership makes for wealthier, healthier people and better communities. No doubt, owning rental property is a great path to wealth, but that's not the path we're offering.
You should meet the income guidelines. Our mission has always been to provide opportunities to those that might not otherwise have them. Police officers, school teachers, city employees, medical workers - we've all heard about how these hard workers often can't afford to live near their jobs. Our great financing gives a chance to help, although it also comes with some rules as to how much money our buyers can make.

Open House - Durham, NC - Saturday, October 11, 2-4pm

Tamara Heyward (Self-Help) — Wed, 08 Oct 2008 15:31:18 -0500

OPENING THE DOOR TO NEW POSSIBILITIES. COME JOIN US THIS WEEKEND!

OPEN HOUSE AT NEW CONSTRUCTION HOME FOR SALE

1036 Kent Street
Durham, NC 27707
Lyon Park Area

Saturday, October 11, 2008
2:00pm-4:00pm

Tour this new construction home and learn about financing for 1st time buyers. Low monthly payments!

About this home:

1036 Kent Street. 3 bedrooms, 2.5 baths, 1258 Square Feet. This one and one half story bungalow style home features a large open living and dining area and a first floor master bedroom suite, and includes a total of three bedrooms, two full bathrooms, a half bath, and an L-shaped galley kitchen with a breakfast bar that opens to the dining room. The second floor offers two bedrooms and a shared full bathroom, the laundry area, and abundant easily accessible storage. The Arts and Crafts inspired exterior offers a side to side gable roof and a front shed dormer, a covered front and rear porch, and an exterior storage room.

For more information about our homes and our commitment to affordable and fair home loans, visit our website at www.self-help.org/homes-for-sale.

Directions
From Durham Freeway (147) North: take Exit 13 (Chapel Hill Street). Turn right at end of exit ramp onto West Chapel Hill Street. Take left turn at third traffic light onto Kent Street. Home is at the corner Kent and Halley.

From Durham Freeway (147) South: take Exit 13 (Chapel Hill Street). Turn right onto West Chapel Hill Street. Take left turn at second traffic light onto Kent Street and follow directions as above.

From downtown, take West Chapel Hill Street. Cross Durham Freeway and follow directions as above.

Click on the map to print directions from your location.

Option ARMs are the next wave in foreclosures?

Tamara Heyward (Self-Help) — Wed, 20 Aug 2008 11:28:29 -0500

Credit Suisse has reported that a second wave in the foreclosure crisis may be on the horizon. Option ARMs, which I've probably ranted about enough (see Wachovia Reigns In Pick-A-Pay Parts I and II), are scheduled to start resetting en masse around 2009, with the most reset volume coming in 2010-2011. A particularly onerous feature of these loans is that even if your first scheduled reset is five years, the loan can reset sooner once your negative amortization reaches a certain point.

The payment shock is expected to be much more severe for option ARMs than for subprime ARMs. You think a 10% increase in your payment was bad, wait til you see the projected 80% increase that will happen with some option ARMs. According to an article at BusinessWeek's website, the good news is that a combination of action by the lending industry and the government could help prevent some of the damage.

Tom Kelly has also posted a good article over at Inman News explaining how the negative amortization reset works.

How is the High Point Real Estate Market?

Tamara Heyward (Self-Help) — Tue, 19 Aug 2008 14:53:46 -0500

Hi all,

I'm researching the High Point, NC real estate market, and would love to have some insight from any agents currently working in that market. How are sales this year, new construction vs. existing homes? What types of homes (price range, housing type, location) are selling? Is there an overall feeling, positive or negative, among real estate professionals about the market?

Any help is appreciated. Thanks in advance!

How is the High Point Real Estate Market?

Tamara Heyward (Self-Help) — Tue, 19 Aug 2008 14:33:52 -0500

Hi all,

I am glad to have found the Piedmont Triad AR group! My company, Self-Help, is currently building and selling affordable, energy efficient new construction homes in the Ole Asheboro neighborhood in Greensboro. If you would like more information on the homes we currently have available, visit our site.

Now, on to the reason for my post. I'm researching the High Point real estate market, and would love to have some insight from any agents currently working in that market. How are sales this year, new construction vs. existing homes? What types of homes (price range, housing type, location) are selling? Is there an overall feeling, positive or negative, among real estate professionals about the market?

Any help is appreciated. Thanks in advance!

Responsible Lenders - Self-Help Featured in Raleigh News & Observer

Tamara Heyward (Self-Help) — Mon, 18 Aug 2008 09:13:22 -0500

Self-Help was featured in a local paper, the Raleigh News & Observer, over the weekend. Our mantra when selling homes and lending money is to use common sense and always look at the big picture. It's kept us afloat so far, and hopefully will allow us to continue to do good things for the people and communities that need our services. As an organization, we usually go out of the way not to blow our own horn, but I'm glad the N&O decided to do a story on us. I think it's good for people to know that not all lenders have acted irresponsibly, and that it is possible for a lender to succeed by caring about people as much as it cares about its bottom line. As my fellow real estate agents know, the end of a long day feels much more rewarding when you know you have really helped someone achieve the dream of homeownership.

A blurb from the article:

"One year into the credit crunch and mortgage meltdown, a Durham financial institution that banks on neighborhoods at risk is still doing business as usual.

How so?

Common sense, said Martin Eakes, co-founder and CEO of Self-Help, a Main Street nonprofit that has, according to its Web site, provided $5.24 billion to 60,130 homeowners, small businesses and nonprofit enterprises since it started the practice in 1984.

And it's still buying, rebuilding, selling and lending for and to just the sort of people in just the sort of places who are caught up in the sub-prime lending mess. Yet, with much of the country's banking, developing and real-estate industry in crisis, "Financially, we're doing fine," Eakes said in an interview this week.

Not that he doesn't feel depressed and keep his fingers crossed.

"So far, our borrowers are doing pretty well, but I'm anxious for them a little bit," he said; but, "I'm depressed for those communities we have helped to build up." "

See the full article at http://www.newsobserver.com/978/story/1180193.html.

Durham NC Sustainable Design House - New Photos

Tamara Heyward (Self-Help) — Mon, 11 Aug 2008 14:10:57 -0500

We toured our sustainable design home at 1020 Kent Street a few days ago. The more visible sustainable and energy efficient elements are now being installed as the home is completed. We were there as the light fixtures went up and the carpet went down. Here are some photos from our visit:

Here's a view through the back door into the house. Bedrooms to the left, kitchen and living room to the right. You can see through to the front door. The concrete stained floors look great, although they are covered with paper to protect them as construction is completed.

The bedrooms all feature Flor Fedora carpet tiles. The tiles are partially made of recycled materials, can be easily arranged into alternate patterns, are low VOC, and don't trap dirt like traditional carpets. Here in the master bedroom, we did taupe tiles with a brick colored border. The 2 additional bedrooms are solid taupe.

The light fixtures have a modern feel and are equipped with energy saving compact florescent bulbs.

The back porch will be a great place for cookouts and hanging out. It opens to a cleared area and a brick planter.

The driveway form is complete and ready for concrete. We want to preserve as much permeable surface as possible, to prevent drainage and erosion issues. Most of the driveway will be two concrete strips with a strip of grass between. At the top and bottom of the driveway are concrete crosswalks, allowing access to the front and rear doors.

1020 Kent Street, Durham, NC - For Sale $120,000 - http://www.self-help.org/homes-for-sale

For Sale in Durham, NC - North Carolina Sustainable Building Competition Winner

Tamara Heyward (Self-Help) — Thu, 31 Jul 2008 14:19:32 -0500

We are nearing completion of our sustainable design house at 1020 Kent Street in Durham, NC. This home has really challenged us to think about how we create energy efficient, affordable homes. Aside from the fact that we've come out with a great house, we've also learned some things that we will be carrying forward into our future new construction.

I've posted some photos below, along with a list of sustainable design features. The interior is starting to take shape, and I hope to have lots of pictures soon. I think the interior will turn our to be very modern and stylish, in addition to being energy efficient. The cabinets and countertops went into the kitchen this week, and we'll also be putting in glass shelves for the kitchen. The kitchen will be a real centerpiece when combined with the stained concrete flooring in the living areas and the open design of the home.

Here's a short list of our sustainable design features:

Location on a 0.11 acre infill lot in an urban neighborhood, with existing infrastructure and utilities. The location provides easy access to public transit, shops and services, and recreational and employment opportunities.
A space-efficient 1180 square foot plan with 3 bedrooms, 2 baths and an open layout.
Exterior walls that use 2 x 6 framing insulated with open cell sprayed foam insulation. The sprayed foam insulation will also be used in the ceiling, resulting in an air tight and highly insulated building envelope.
ENERGY STAR qualified shingles that reflect sunlight, in order to reduce the cooling load.
Passive solar design elements, including numerous south-facing windows, a generous roof overhang and a vegetated shade screen.
ENERGY STAR certified 7/8" thick insulated LoE2 glass windows filled with argon gas.
Extremely energy efficient 15.0 SEER-rated heat pump system.
ENERGY STAR certified dishwasher, refrigerator, range hood, bathroom exhaust fans, and ceiling fans. Also, fluorescent and compact fluorescent bulbs will be featured in many rooms.
Water conserving features such as low-flow faucets, drought-resistant landscaping, and a 55-gallon rain barrel.
Vanguard MANABLOC manifold plumbing system to provide water quickly and efficiently, reducing water use and water heating costs.
Indoor air quality improvements through the use of zero volatile organic compound (VOC) interior paint, low VOC exterior paint, well-planned moisture management and fresh air exchange, and a carbon monoxide detector.
Stained concrete flooring in the main living spaces and tile flooring in the bathrooms for durability and improved indoor air quality.
Universal design elements such as a wheelchair accessible entrance ramp and ADA compliant doorways, hallways and rooms.
Recycling center built into the kitchen.
Salvaged, reclaimed brick used to build garden planter, porch border and steps.
Certification that the home meets or exceeds ENERGY STAR standards for energy efficiency, and SystemVision standards for comfort, durability, energy efficiency, health, and safety.
A SystemVision guarantee that the heating and cooling portion of the homeowner's monthly utility bills will not exceed approximately $30 per month.

Besides the sustainability factor, the other great thing about this house is that it's priced at $120,000. We can also recommend state and city loan programs that significantly reduce the monthly mortgage payment.

Here are some pictures of the house. These are a few weeks old - the builders have been working so hard on site that it's a challenge to get in and take new pictures. That's a good thing, as they plan to finish the home in the next few weeks.

Photos from Goldsboro, NC Open House and Ribbon Cutting

Tamara Heyward (Self-Help) — Wed, 30 Jul 2008 09:41:43 -0500

Here are some photos from the ribbon cutting and open house we had at our new construction homes in downtown Goldsboro. At the ribbon cutting, we celebrated the sale of our first home in Goldsboro. We had an overflow crowd - it has been a long time since new homes have been built downtown. Add in the fact that they are affordable for first time homebuyers, have incorporated historic exterior details, and are energy efficient, and I think we have the beginnings of something special.

Everyone is very excited - the city and county government, Seymour Johnson Air Force Base, local business owners, local colleges, and other community developers all showed up to support this. Our new homeowner cut the ribbon with the mayor, we blessed the house, and had a great party to celebrate!

Tax Credit for 1st Time Homebuyers

Tamara Heyward (Self-Help) — Wed, 30 Jul 2008 08:59:43 -0500

It looks like a $7500 tax credit for first time homebuyers will be a part of the housing stimulus package being signed by President Bush today. Please pass this along to any first time homebuyers you work with who are closing on a home between April 9, 2008 and July 1, 2009.

They can take a $7500 tax credit on their 2008 or 2009 tax return. Tax credits are more fun than deductions because the credit is a dollar for dollar reduction in tax liability – ie if you owe less than $7500 in taxes, the government will erase the tax liability and send you a check for the difference. If you owe more than $7500, the credit will reduce your tax liability by the credit amount.

One note – this is basically a loan from the government. They want people to have the money now, but it will have to be repaid starting in 2010 (at a rate of $500 per year, or in full when the house is sold – no interest). There are also income requirements. You can see complete info here:

http://www.nbnnews.com/NBN/issues/2008-07-28/Front%2BPage/index.html

Goldsboro, NC - Mid-week Open House - New Construction - Great Opportunity for First Time Homebuyers

Tamara Heyward (Self-Help) — Mon, 21 Jul 2008 09:47:14 -0500

Join Us For An Open House
in Historic Downtown Goldsboro

Wednesday, July 23
4-6pm
404 S. John Street
Light Refreshments Served

New Construction Priced From $94,000

Special Financing - up to $35,000 towards purchase of home. The City of Goldsboro wand the state of North Carolina want to help you purchase a home!

Hardiplank Siding

Energy Efficient Construction

3 bedrooms, 2+ baths

Appliances Included

Historic District - beautiful construction details

Please join us as we celebrate the completion of three new homes in historic downtown Goldsboro. These homes are beautifully constructed and very affordable. Hardiplank siding, energy efficient construction, 3 bedroom/2 baths, appliances included, and more - all starting at $94,000!

We have partnered with the city of Goldsboro and the state of North Carolina to provide special financing for first time homebuyers - up to $35,000 towards the purchase of the home, making mortgage payments truly affordable.

We look forward to seeing you and your clients at this open house to learn more about this opportunity. These homes are available to owner occupant, first time homebuyers. Please contact Tamara Heyward at 919-956-4423 for more information.

These Homes Will be Available To Tour at the Open House

The Bentley
1258 sq. ft.
$102,000

This one and one half story bungalow style home of 1258 square feet features a large open living and dining area and a first floor master bedroom suite, and includes a total of three bedrooms, two full bathrooms, and an L-shaped galley kitchen with a

breakfast bar that opens to the dining room. The second floor offers two bedrooms and a shared full bathroom, the laundry area, and abundant easily accessible storage. The Arts and Crafts inspired exterior offers a side to side gable roof and a front shed dormer, a covered front and rear porch, and an exterior storage room.

The Juniper
1096 sq. ft.
$94,000

This single story bungalow style house of 1096 square feet features a large living room and separate dining room as well as a private master bedroom suite. This house includes a total of three bedrooms, two full bathrooms, a laundry area and U-shaped kitchen with a breakfast bar that opens to the dining room. The Craftsman inspired exterior offers a double gabled roof, and a wrap-around front porch with a side gable.

The Monique
1190 sq. ft.
$99,000

SOLD! This two story Queen Anne style house of 1190 square feet features a spacious living and dining room area and a private master bedroom suite with a walk-in closet. This open floor plan includes a total of three bedrooms, two full bathrooms and a powder room, a laundry room and U-shaped kitchen with a breakfast bar and opens to the dining room. The historically inspired exterior offers a main hip roof with a shingle accented front gable, a covered front and rear porch, and exterior storage room.

Open House - Affordable, Energy Efficient Home from Durham Community Land Trustees

Tamara Heyward (Self-Help) — Tue, 24 Jun 2008 13:44:06 -0500

www.1513ChapelHillRoad.com

1513 Chapel Hill Road
Durham, NC 27701
Lakewood Area
$85,000

Saturday, June 28
12pm-4pm

If you are a first time homebuyer on a budget, or are working with first time homebuyers you will want to attend this open house. If you think FHA financing is your only option, come learn about our preferred financing options!

This 3 bed, 2 bath home features new carpet and paint throughout. The bedrooms are spacious and a large living area provides room for the family. The location is near upcoming new construction that will enhance the neighborhood. Live near Duke University and downtown Durham.

A developer representative will be on hand to answer questions about the developer's affordable construction, upcoming development on this street, and financing options.

Purchase of this home is available to first time, owner occupant homebuyers only. No investors, please.

See more information at www.1513ChapelHillRoad.com

About The Developer
Building Homes...Building Community...Building Trust. The Durham Community Land Trustees is a non-profit, community based organization committed to providing permanently affordable housing... and promoting community revitalization in the neighborhoods in which it operates. www.dclt.org

Durham, NC Event Calendar June 11, 2008

Tamara Heyward (Self-Help) — Wed, 11 Jun 2008 11:36:26 -0500

This week, the American Dance Festival is in full swing as it celebrates its 75th anniversary. There are also several events for Father's Day, including an interesting looking luau at The Melting Pot.

See all of this week's events

Use the searchable event calendar

Letters From Vermont and America

Tamara Heyward (Self-Help) — Fri, 06 Jun 2008 19:19:57 -0500

I just ran across this while surfing the 'net. Senator Bernie Sanders from Vermont sent out an email to his constituents asking them what was going on in their lives economically. He had read all of the media reports about the unemployment rate, about how many people have lost health insurance, about how incomes have declined. But as many of us know, you can't always count on the media to get the story right. So he decided to go to the people and ask them. He says he expected a few responses; he got over 600.

He compiled some of the letters into a booklet and distributed a copy to every member of Congress. You can download the booklet by clicking the link:

The Collapse of the Middle Class: Letters from Vermont and America

Senator Sanders pulled a line from each letter as a title:

"We have at times had to choose between baby food and heating fuel."

"By February we ran out of wood and I burned my mother's dining room furniture."

"Not spending those ten hours at home with my husband and son makes a big difference."

"I want to drop everything I am doing and go visit him."

"We also only eat two meals a day to conserve."

"My husband and I are very nervous about what will happen to us when we are old."

"The pennies have all but dried up....Today I am sad, broken, and very discouraged."

"I don't go to church many Sundays, because the gasoline is too expensive to drive there."

"At the rate we are going we will be destitute in just a few years."

"I am just tired....I work 12 to 14 hours daily and it just doesn't help."

"Now we find that instead of a feeling of comfort, we have a feeling of dread."

"Some nights we eat cereal and toast for dinner because that's all I have."

"Insurance costs continue to rise causing some to forgo insurance to pay for groceries."

"Dentistry is expensive and people are opting not to come to the dentist."

"How devastating it has been for folks who travel great distances to get to their cancer treatment."

"I feel as though I am between a rock and a hard place no matter how hard I try."

"I have been forced to go back to work."

"We would like to not have to worry about where our next meal will come from."

"My husband and I followed all the rules.... Slowly, though, we have sunk back to the 'poor' days."

"It costs me so much money in gas that my wife and I live on $6 per day to eat."

"How much more of a hit can people take? The future looks extremely bleak to me."

"I am now living out of my car."

"Our life style has drastically changed in the past 12 months."

"My mortgage is behind, we are at risk for foreclosure, and I can't keep up with my car payments."

"We are barely staying afloat."

"I wonder some times if we should try to follow our dreams - decide to have children?"

"People say, ‘Cut back.' "

"Does anybody have a solution? Does anybody in Washington care?"

Reading these letters reminds me how fortunate I truly am. While we are more conscientious about gas consumption, and might eat out a little less than we used to, we do not have to make the decisions people talk about in these letters.

Here's hoping that our economy gets back to basics: jobs that pay a living wage, tight knit and supportive families and communities, and of course decent and affordable homes for all!

Barrington Village - Raleigh, NC

Tamara Heyward (Self-Help) — Fri, 06 Jun 2008 10:29:27 -0500

The Wall Street Journal Online has a piece today about Raleigh's Barrington Village and its developer, Builders of Hope. This neighborhood is one of the smartest uses of human and social capital and environmental responsibility I've ever seen. The idea is beautiful in its simplicity:

Instead of knocking down old homes to make way for new ones, homeowners donate the homes to Builders of Hope.
Builders of Hope moves the house free of charge.
The owner keeps a demolished home out of the landfill, gets a tax deduction, and avoids the evil eye of neighbors for tearing down the home.
Builders of Hope relocates the house to its development, rehabs it, makes it energy efficient, and sells it to someone that needs affordable housing.
Along the way, they employ homeless workers in the construction, giving them experience and skills they can then use to find other jobs.

Everybody gives a little, everybody gets a little - a beautiful way to protect our environment, housing stock, and build human capital.

June is National Homeownership Month

Tamara Heyward (Self-Help) — Tue, 03 Jun 2008 14:36:49 -0500

This month, we celebrate National Homeownership Month. The celebration is meaningful for what it says not only about our ambition in creating more access to the American dream of homeownership, but also for what it means when our ambitions fall short.

President Bush designated June as National Homeownership Month in 2002, with the goal of adding 5.5 million minority homeowners by the end of the decade. Achieving this goal would have a major effect on our nation. Historically, homeownership has been step one in the creation of wealth for Americans, leading to better economic prospects, access to more financial resources, and the ability to pass that wealth on to future generations.

This year, National Homeownership Month is especially poignant. 2008 marks the 40^th anniversary of the 1968 Fair Housing Act. A centerpiece of the Act is the prevention of discrimination based on race, color, religion, sex, national origin, familial status (families with children), and disability. Over the past six years, opportunities for minorities to become homeowners have flourished. New loan programs meant greater access to financing for more people, which meant access to homes. This represented the best in our quest for fair housing and for the goal of increasing homeownership.

As we now know, it also represented the worst. Minorities are expected to make up a disproportionate percentage of the foreclosures sweeping the nation. Entire neighborhoods (and in some cases, entire cities) have lost a generation or more of wealth created through homeownership. In the push to create homeowners on paper, we neglected to provide the underpinnings that would have made them homeowners in fact - i.e., staying a home long enough to put down roots, build equity, and accumulate wealth.

Without proper financial education for all Americans, regulation of lenders, and an economic system built on something more stable than consumer spending, the promises of homeownership will not pay off as well as they should. A recent article in the News and Observer noted that customers often did not understand how to prioritize their bills. They faced disconnection of their electricity, believing that the cable bill had to be paid first, since the cable company's grace period was shorter. Local utility companies have started programs to help customers understand how to pay bills in order of importance, explaining to them that if they don't have electricity, they won't have cable, whether they paid the cable bill or not.

As is fitting, the theme of National Homeownership Month 2008 is "Back to Basics". From the HUD website:

"This year's theme - "Back to Basics" - is designed to underscore the importance of having strong, common-sense fundamentals as a way to maintain a sustainable housing market. Many of those basics (verification of income, ability to repay) were ignored in the lead-up to the housing bubble. The Department will focus on helping families learn what the federal government is doing to help struggling homeowners; how to protect themselves against predatory lending; to better understand what goes into owning a home; and how to own a home they can afford. "

Couldn't have said it better myself. Let's all live up to our potential and make homeownership the dream we know it can be.

June is National Homeownership Month

Tamara Heyward (Self-Help) — Tue, 03 Jun 2008 14:32:24 -0500

As is fitting, the theme of National Homeownership Month 2008 is "Back to Basics". From the HUD website:

Couldn't have said it better myself. Let's all live up to our potential and make homeownership the dream we know it can be.

HUGE Price Reduction on Great North Durham Home

Tamara Heyward (Self-Help) — Thu, 29 May 2008 16:02:04 -0500

We've just reduced the price on this home. The seller understands the market and is ready to sell - they have reduced the home from the original price of $232,500 to $195,000 - a huge value for a spacious home with lots of space.

A few reasons why this is a great home:

Quick commute to the Durham Regional Hospital area. You can also get to Duke University/Medical Center and major employers in downtown Durham in about 20 minutes.
Brand new, neutral colored paint and flooring throughout.
Kitchen update - the kitchen has new countertops and flooring. The cabinets are sturdy and good quality - they have been refinished and look great!
Extra large two car garage fits two cars comfortably and still leaves room for storage.
First floor layout works well for family and entertaining. A dining area off the kitchen is great for formal and casual meals. The family room is huge and opens onto a screened deck. The local climate allows for three season use of the deck - this might become your favorite room in the house!
Vinyl siding and partially wooded lot - enjoy a large house and lot with minimal regular maintenance.

See more information and photos at www.158LinTilley.com.

Durham, NC Public Schools - May Video Newsletter

Tamara Heyward (Self-Help) — Wed, 28 May 2008 15:12:29 -0500

Durham Public Schools has just published the May edition of their Parents Video Newsletter. On tap this month - graduation schedules, Summer Reading Club and other summer camps, and score reporting for end of grade reading tests.

See the video here.

New Listing - Research Triangle Park townhome, Durham, NC

Tamara Heyward (Self-Help) — Sat, 24 May 2008 16:42:56 -0500

We just listed this great RTP townhome - if you work in RTP and want a short commute, this home is worth a look.

A few details: Beautiful end unit home with plenty of upgrades. All appliances are included - all kitchen appliances, plus washer and dryer. Upgrades include kitchen island, luxury master bath with garden tub and dual sinks, vaulted master bedroom ceiling, trimmed windows, columns, railing at top of stairs, berber carpet, fireplace with marble surround. This home backs to a common area, offering extra privacy and less noise. Close to all freeways. Pool table and bar in fourth bedroom/bonus room negotiable.
See more details at http://www.302hiddensprings.com/ or contact the listing agent, Bruce Hill.

More photos: