Neighborhood Stabilization Program - 09/30/10 02:54 PM
I am involved in helping a buyer purchase a home that has been foreclosed on. In the addendum on the listing is the directions for the process of how offers will be considered.  In this addendum, it mentioned the banks participation in the Neighborhood Stabilization Program. 
I had never heard of this, so I asked several agents that have handled more foreclosures than myself if they were familiar with the program.  Nobody had heard of it, and I assumed it was a government program. And sure enough it is.  I found this on HUD's website.
http://www.hud.gov/offices/cpd/communitydevelopment/programs/neighborhoodspg/
… (0 comments)

Horse farm tour in Southern Pines to benefit charity. - 09/30/10 02:24 PM
As I have written in previous blogs, we have a strong equestrian presence here in Moore County.  Southern Pines is home to a very large foundation of trails, with beautiful horse farms surrounding it.
This October, the horse country are will continue is tradition of having a horse farm tour to raise money for Prancing Horse, a charitable organization that offers programs for physically and mentally challenged children.
These horse farms are some of the nicest real estate in the county, and coming out to tour these farms is very worth the time spent.
http://www.dawncrawleyrealty.com/NCEquestrianCommunities.html
… (0 comments)

Horse farm development - 09/29/10 08:44 AM
I'm hoping that some of you equestrian enthusiasts know someone that can help layout a horse farm property. I sold some acreage to a couple two years ago, and they want to develop it into a horse farm.  They recently asked me if I know of anyone who can assist them in laying out the property.
I have asked around to some of my equestrian friends, and they have heard of such a service.  They were just unaware of anyone specifically.
I'm in the Pinehurst area of NC, so someone local or near Raleigh would work best.   
http://www.dawncrawleyrealty.com/NCEquestrianCommunities.html
… (1 comments)

Determining value with no property sold - 09/26/10 09:36 AM
I have taken on the task of determining if a home owners association has made a decision that lowered the property values in a section of a gated community. A decesion was made to restrict access to some homeowners to exit the community from one of the gates.  There reason was for the preservation of a lake dam. However, there are some that do not believe that closing this route was necessary do to the lack of scientific evidence.
In order to assist the hoa board, I tried to determine if the closure of the exit route for some homeowners effected … (5 comments)

Pinewild, a gated golf community in Pinehurst, NC - 09/25/10 04:32 PM
Pinewild is a gated community minutes from the golf resort in Pinehurst.  It is a community comprised of single family homes sitting on larger than average lots.  Lot sizes range form 3/4 of an acre to an acre.
Some of the homes are golf front, some have a view of the course, and others are what we call interior homes. People have come from all of the country and the world to live in Pinehurst, and many have settled in Pinewild.
There is a country club that is optional to residents of Pinewild.  If the real estate being purchased has a … (0 comments)

Another great endorsement for Pinehurst - 09/24/10 01:01 PM
Go to the bottom of this article, and you will see that Pinehurst was rated #1.  A great place to play golf, a great place to live.
http://www.usairwaysmag.com/articles/golf/
http://www.dawncrawleyrealty.com/NCGolfCommunities.html
… (0 comments)

Mid South Club in Southern Pines, NC - 09/24/10 10:28 AM
Southern Pines might be most well known for Horse Country.  Miles of horse farms and acres of trails. There are definitely other aspects to Southern Pines including a quaint town with shopping and restaurants. There are also several golf communities including the gated Community of Mid South Club.
Mid South offers a signature Arnold Palmer 18 hole golf course, and membership includes another course down the street called Talamore.  You do not have to join the club to be a resident of Mid South.
Currently, the development offers three types of homes.
Condo/Townhomes ranging in price from $275,000-$440,000 Patio homes ranging … (0 comments)

Please be safe! - 09/23/10 07:40 AM
Most of us have probably heard the news of the real estate agents that were killed and robbed in Ohio recently. Be sure you have safety measures in place if you are showing property to someone you don't know. 
First and foremost, don't meet unknown people at the house you are showing them.  Meet at your office and have another agent there.  Even if you are independent, I'm sure you know another agent that would be willing to show up.  
Also, let someone know the address of the properties you are showing and the times you are expected to be … (5 comments)

Question for Mortgage Brokers - 09/22/10 03:07 PM
While visiting the Wednesday open houses in Southern Pines, I began chatting with the mortgage broker who was sponsoring the open house. We started the usual discussion with the state of the real estate market and the recent decline in applications for new mortgages. This time I learned something new, so here's my question:
Are you, as mortgage or real estate brokers, finding that it is almost impossible to get a loan to build a custom home?  The problem is two fold as I was told.  First, the lenders will only loan up to 80% of the appraised value of the finished home. … (1 comments)

Inventory levels dropping - 09/22/10 09:36 AM
In Seven Lakes West, a lake community 10 miles from Pinehurst, NC, has seen a dramatic decrease in inventory. That's good news for those still actively trying to sell their homes.
The reason for the decrease isn't sold properties, but expired or withdrawn listings. Real Estate sales are predominantly driven by the real need to sell, as opposed to selling for convenience or wanting a change. This has been the case in the past, but people wanting to move up or downsize their homes without a real need are finding it harder to do so.
So it must be expressed to … (0 comments)

Whispering Pines, a small Village in the Pinehurst area - 09/21/10 10:07 AM
Whispering Pines is another great community near Pinehurst, NC.  Located less than 15 minutes away, Whispering Pines offers a variety of home options.  Located within the village are 2 country clubs with golf, tennis and pool.  The Country Club of Whispering Pines and Whispering Winds Country Club.  Also, there are several lakes with lake front homes available in all sizes and price ranges. 
Some of these lakes are large enough for motor boat activities including skiing and tubing as well as fishing and swimming.  Other lakes are smaller and allow either electric powered boats, or man powered boats.  All residents of … (2 comments)

Foreclosure gets multiple bids in first week. - 09/19/10 08:10 AM
As I've posted before, we do not get many foreclosures in the Pinehurst area of NC.  We are seeing an increase, and the usually sell very quickly. Often they sell in 30 days or less if priced well.  
This past week a lake front home was listed and within days multiple offers have been submitted. It was price very low, and the bank is waiting until next Tuesday before accepting one of the offers. This shows that there is demand for real estate out there if buyers feel they are getting a good enough deal on a home.
… (1 comments)

The Village of Foxfire in Moore County, NC - 09/18/10 07:47 AM
Foxfire is a small village less than 10 minutes from Pinehurst. There is a country club that is open to the public and has memberships available.  There are two 18 whole golf courses, and the membership is reciprocal with Whispering Pines Country Club.  The real estate in Foxfire is modest in price. There are condos available as well as single family homes on generous lots of about 3/4 of an acre.  
Condos range in price from $82,500 - 156,500
Single family home prices are - $195,000 - $539,000 with the majority priced under $300,000.
Many of these homes are located on the … (0 comments)

Listing agent must accompany? - 09/17/10 07:19 PM
This weekend I'm showing horse farms in Southern Pines to a client I have already sold a property to (I love showing horse farms!).  I know she wouldn't waste her time looking if she wasn't considering a purchase.  This one horse farm I wanted to show is "listing agent must accompany".  Sometimes this is necessary if a seller wants to protect their valuables. However, in this case it is because the listing agent wants to point our features that might otherwise be looked over. I don't think that is necessary in a first showing. If the client shows interest, then it … (0 comments)

Pinehurst is a golfer's paradise - 09/17/10 08:28 AM
This is September and Pinehurst is filled with local and out of town golfers.  When looking to retire, many people who love golf come to Pinehurst to find their retirement home.  What makes Pinehurst so great for retirement:
As mentioned GOLF!  Over 40 golf courses in a 30 mile radius. Several gated communities with some golf front homes starting in the low $200,000 Homes in all sizes and price ranges to fit most anyone's needs and wants. Low property tax rates.  The highest rate in the county is .92 on $100 of value Good restaurants and quaint downtown shopping. Well respected hospital … (2 comments)

Helping out another agent. - 09/16/10 04:23 PM
I received a call the other day, and it took me off guard.  I try to be helpful with other agents when I can because it develops a good professional relationships.  At first I told her I would help her out, but now I realize not only is this situation against our local Realtor board rules, but it is also not good business sense. 
This agent doesn't have enough money to join the association.  She wants to be an independent, but she can't scrape together the cash. So she wanted to know if she could use my computer to search the mls … (11 comments)

How many listings do you have? - 09/15/10 03:02 PM
Honestly, I don't have many listings at this time.  Most of my marketing money goes towards attracting buyers, so in most of my transactions, I have been the buyers agent.  However, the listings I did take, which were mostly referrals, the majority of them sold.  But more importantly, of all the contracts I have had over the last 4 1/2 years, only one fell through.
Many agents and sellers think that success is getting as many listings as possible.  I like taking listings, since as a real estate agent, that's 1/2 of the transaction and it attracts more business.  But more … (1 comments)

The Village of Pinehurst - 09/15/10 09:42 AM
The beautiful Village of Pinehurst, NC is located about 70 miles southwest of Raleigh.  It is mostly known as a golf destination, but it has so much more to offer.
The town if filled with quaint shops, restaurants, and a relatively new wine shop.  
The resort in Pinehurst offers a tennis facility that is used by the state of North Carolina's USTA championships every summer. The tennis courts are made of Har Tru clay, and they are nestled in the pines next to the Pinehurst Country Club clubhouse and 1-5 golf courses.
The resort also offers a luxurious spa with a wide … (0 comments)

Seven Lakes North - 09/14/10 04:33 PM
The community of Seven Lakes North near Pinehurst, NC offers a variety of home choices. 
Lake front homes.  The largest lake is Lake Sequoia with a variety of recreational uses including water skiing, swimming, kayaking and fishing.  Prices range from approx. $250,000 up to $425,000. Lake View homes.  These homes are across from the lakes, and the property owners have access to the lakes from public launch and beaches.  These homes range from the low $100,000 up to the mid $200,000, Interior homes with no views, but access is the same.  The price range is similar to lake view homes. There is one unique property … (0 comments)

Foreclosures in Moore County, NC - 09/14/10 08:18 AM
We have been fortunate in that we haven't had that many foreclosures in our county.  However, we are seeing an increasing number of homes going into foreclosure.  Many of these new foreclosures are in higher end homes because those are the ones that aren't selling.  Builders and second home investors are just letting these homes go because they don't want to make the payments anymore.  
We have a beautiful golf front condo in a gated community in Southern Pines that is a great deal.  It is hard to believe nobody has snatched that up yet.
A lake front home in … (1 comments)

McLendon Hills, and NC Equestrian Community - 09/13/10 08:23 AM
Are you or a client searching for a unique and beautifully developed equestrian community?  McLendon Hills was developed just over 10 years ago and has several desirable features.
1) It is a gated community just 10 miles from Pinehurst, so you could have a horse farm and be just a few minutes from one of the countries most famous golf course.
2) In the center of the community is a lake with lake front homes and lots available for building.  All property owners have access to the lake.
3) Surrounding the development is 6 miles of groomed trails with adjacent "mini-farms" for horse … (0 comments)

Golf front homes in Pinehurst, NC - 09/12/10 08:57 AM
Pinehurst is a well known area as a golfing destination.  And if you are looking for golf front homes, you will have many choices here in Moore County.  Within a 30 mile radius of Pinehurst, there are over 40 golf courses, 8 of which belong to the Pinehurst Country Club.
In Pinehurst and all of Moore County there are 293 golf front properties.  Choices are many including condos, single family homes, gated communities and non gated communities.
There are 83 golf front condos with an average price of around $200,000, and range in price from $70,000 up to $500,000.
There are 210 single … (2 comments)

Southern Pines Horse Trails at the Walthour Moss Foundation. - 09/11/10 03:24 PM
From the Walthour Moss Foundation Website: "The Walthour-Moss Foundation was established by Virginia Walthour Moss and William O. "Pappy" Moss, and because of special provisions, it may continue to grow forever. The Foundation is located in the Sandhills of North Carolina, one mile from the town of Southern Pines. It occupies over 4000 acres, virtually unspoiled by progress and development.
The Foundation was originally known for its equestrian use, which continues to attract world-class riders and drivers to its sandy lanes and trails. However, the implementation of proper silva culture and ecological practices have made the Walthour-Moss Foundation a true environmental … (1 comments)

Strange closing with a VA loan. - 09/10/10 11:50 AM
The lending requirements are getting stricter, and strange things are coming up at the last minute.  I recently had a VA closing, and for VA the origination fee can't be over 1%.  For this loan, the VA fee was .75%, but at the last minute the loan was held up because the underwriters were including the attorney's fee as part of the origination cost.  Nobody had heard of this before, and the only thing we could fathom was that the attorney was on the banks recommended list, so therefore they considered part of the fee.

… (4 comments)

Pinehurst area foreclosure. - 09/10/10 11:45 AM
We have been lucky here in the Pinehurst, Southern Pines area of NC as we have not seen a high volume of real estate foreclosures.  However, there is a bit of an up-tic lately, and some of these are higher end homes in really nice communities.  One of these is a condo listed by a local Realtor overlooking the beautiful golf course in the gated golf community of Mid South Club in Southern Pines, just 5 minutes from the Village of Pinehurst.
This foreclosure home is listed at $274,900 and these units at one point were selling for over $400,000.  For more … (0 comments)

Really? Raising prices - 09/10/10 08:36 AM
It only boggles the mind as to the thinking of some sellers and even real estate agents who can't convince their sellers not to do this.  Your house has been on the market for over 2 years.  After the last listing expired, you relist with the same agent, then 3 weeks later you raise the price. Now I would understand this if people were flooding to your unique home trying to put in a offer.  But when you are in a golfing community with high inventory levels of homes in which the average list price of sold homes is approximately $200,000 … (4 comments)

So much to do in Southern Pines, NC - 09/10/10 08:12 AM
If someone were to ask what kind of town Southern Pines is, it would be hard to describe it in one simple sentence.  On the one hand you have a couple of upscale gated golf communities.  The homes in these developments average around $500,000 and maybe even a bit higher.
On the other hand it is a very popular equestrian spot with a section of the town that has large horse farms and a foundation dedicated to riding trails with over 4,000 acres.  Many from the north come down with their horses to ride in the winter, and fox hunting is a popular … (1 comments)

Inventory and Prices for Pinehurst, NC - 09/09/10 11:03 AM
I decided to day to look at the inventory and home sales in Pinehurst a different way today.  Usually I check the inventory levels for the area, then check the average price sold.  Digging a bit deeper, I found some interesting information.
The number of single family homes on the market is 443
The list prices range from $125,000 - $4,395,000'
The average list price for Pinehurst real estate $529,179
Here is the interesting part, the average LIST PRICE OF SOLD HOMES THIS YEAR $289,875!
Does this mean that the average list price is almost $150,000 over where it should be. … (3 comments)

Broker open houses.... - 09/08/10 09:30 AM
It surprises me week after week how many agents do not visit broker open houses.  Especially those who are not selling much.  There are many reasons this is a helpful practice to all involved.
1) Visiting agents get to know the inventory so when they have an interested buyer, they have more  knowledge of the available homes.
2) The visiting broker gets to know other agents and can develop a relationships that can be helpful in future business deals.
3) The host broker gets exposure for their listing and shows the seller that they are working to get their home sold.
4) The seller … (1 comments)

North Carolina Lake Front Living - 09/07/10 08:18 AM
There is more to the Pinehurst, NC area than golf.  In and around Pinehurst there are several lakes of various sizes with a variety of recreational activities.
First there is Pinehurst Lake.  Lake front residents as well as members of the Pinehurst Country Club have access to this lake.  Smaller pontoon boats, fishing, kayaking, canoeing, and swimming are some of the many activities enjoyed in Pinehurst.
Probably the most sought after lake front homes are the ones located on Lake Auman in Seven Lakes West just 10 miles from Pinehurst.  This is a larger lake with water skiing, tubing, fishing, swimming and … (0 comments)

Discount or flat fee brokers. - 09/06/10 04:06 PM
Recently in Seven Lake, NC I closed on a contract as the buyers agent.  I believe in representing my clients to the fullest and feel that is what a real estate agent should do.  This particular closing had a flat fee agent list the seller's home on our mls for an upfront fee and no representation.  All showings were made directly with the seller, and all offers were presented directly to the seller.
Now I do believe there are some people that know enough about real estate in their state to negotiate and get through the closing process without a lot … (2 comments)

Equestrian Communities in Moore County, NC - 09/05/10 08:19 AM
Pinehurst, NC has historically been known for its beautiful golf courses.  Another much enjoyed sport in Moore County is equestrian events.  Southern Pines, Carolina Horse Park, and the Pinehurst Harness track host a variety of activities year round.  Dressage, Hunter Jumper Events, and the annual Steeple Chase are among the most popular.
In and around Southern Pines, many communities dedicated to the equestrian enthusiast have developed. Horse Country in Southern Pines has some of the larger horse farms around the Walthour Moss Foundation, many acres of well manicured trails.
Other equestrian communities include:
McLendon Hills, a gated lake and equestrian community 10 miles … (3 comments)

Seven Lakes North Carolina - 09/04/10 08:23 AM
Seven Lakes is a beautiful area just outside of Pinehurst in Moore County, NC.  It is comprised of 3 sections;
1) Seven Lakes South which has the Seven Lakes Country Club Golf Course and Club House
2) Seven Lakes North which has several lakes, pool, tennis and playground for property owners of the north and south side as well as clay tennis courts for country club members
3) Seven Lakes West which holds the largest lake of almost 1,000 acres and has a country club called Beacon Ridge Country Club. Property owners have access to a separate pool, tennis courts and of course lake … (0 comments)

Buyers, what are you waiting for..... - 09/03/10 08:15 AM
There is obviously still some skepticism from buyers as to make a home purchase now.  Some may believe that there is still some downward pressure in prices, and they are waiting for those prices to fall.  However, even if that is true, but the time those prices come down interest rates may be higher.  
With interest rates as low as they are right now, even if you pay a bit more for a home up front, you will probably pay less in the long run with the savings on interest. Here in the Pinehurst, Southern Pines area of NC, there are many … (2 comments)

Residential sales down in Moore County, NC - 09/02/10 09:10 AM
Residential real estate sales were down in Moore County for August.  Sales were below July of this year and below August of last year.  Additionally, the average price was at it lowest level since October of 2009.  Our market is stable in some areas such as Southern Pines, Whispering Pines and portions of Pinehurst.  
This is mostly due to the military base, Fort Bragg located nearby in Fayetteville.  Moore County is preferred by many than the Fayetteville area because of the schools and what some believe a nicer lifestyle.
Lastly, inventory levels are at an all time high.  With so many … (0 comments)

Why choose Pinehurst over the coastal NC - 09/02/10 07:24 AM
Even if living with the potential threat of a hurricane hitting your home, the cost of insurance might make the difference in choosing the coast or the beautiful inland resort area of Pinehurst.  Pinehurst doesn't usually get any harmful effects from hurricanes, and we are surrounded by beautiful pines, over 40 golf courses, great tennis facilities, shopping, restaurants, and a short drive to the city of Raleigh. If you or a client is looking to relocate to North Carolina, I'm happy to pay a referral fee if they choose the Pinehurst area.
… (0 comments)

Pictures please - 09/01/10 08:47 AM
I stay in touch with most of my buyer clients via email as far as updates on new listings.  It is surprising to me in these days of digital photography that some listing agents wait several days to post pictures.  There are even some agents who will only post a picture of the front of the house.  Even more surprising is when I see a high end home (above $500,000 which is high for Pinehurst, NC) that never post more than 4 or 5 photos.  These agents are doing a disservice to there clients as buyers now want to see lots of … (4 comments)