Attention buyer agents! Do you recommend your buyer clients get a title insurance policy? Remember it's required with most mortagages but that's actually the lenders policy. The lenders policy does offer some protection but it still leaves the buyer open to, let me explain.

I actually heard this on the Neal Boortz radio show. Among other things Neal used to practice as a real estate attorney. On his show he went as far as to say that if a real estate agent ever told a buyer they didn't need a title policy because the lender had a policy, the offending agent should be slapped upside da head.

Anyway, we all know the purpose of the title policy, the insurer will make good on issues in title chain that affect current ownership, how the property can be used, etc., that for what ever reason were not found during escrow. In the story Mr. Boortz was telling an entire development was found to be in jeopardy. Someone proved that somewhere down the line a mentally incompetent party signed over the property in question which invalidated the chain of ownership from that point on.

As you'd expect the title insurance company made good to the insured lenders. As they did so the promisorry notes for each home loan became the property of the title insurance company or companies. And guess who was left holding the bags..., the borrowers. The borrowers or buyers as we call them still owed, and were required to pay, the home loans without getting the houses, unless of course they had an owners title policy.

Ask your local closing attorney about simultaneous issue of an owners title policy for your buyer client. It shouldn't cost much more since the attorney gets a commssion from the lenders policy which can be as much as.. wait for it... 60%. Wow I wonder what our clients would say to that figure, hmmm?

Looks like Newsmax magazine hired best-selling author Peter Greenberg who is the  travel editor of NBC’s Today show, to put together the nation’s most uniquely American communities. All American city, Fayetteville NC made the list at number 14. Greenberg sought cities and towns that best display America’s core values.

According to Greenberg one of Fayetteville's best attributes is it's hospitality toward the military. Congratulations Fayetteville!

Click Here to see Newsmax's 25 most American cities

Buyers of Fayetteville NC homes will pleased to know that in addition to healthy appreciation and stability in our market they may be eligible for an $8000 tax rebate for homes purchased in 2008 or 2009. The credit applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.

The purchased homes must be the taxpayer's principal residence. The rebate is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed. Even better than the previously offered $7500 dollar rebate the new $8000 rebate isn't required to be paid back unless the home ceases to be the taxpayer's main residence within a three-year period following the purchase..

There are also no restrictions on what you can spend the money on. This new rebate in addition to the excellent health of the Fayetteville NC homes market, record low interest rates, and the abundance of distressed sales make now the best time ever to buy Fayetteville NC homes.

For more info on the tax reabate click here for the IRS webpage explaining the program

One more reason I don't trust the current crop of politicians. It seems there are some banks that want to return TARP money but the Government just ain't gonna have it. Few on the outside really understand just why but one reason could be that it's all about control. Think about it, many banks were coerced into taking TARP money and now that they have, they are subject to all sorts of crazy demands on how they conduct their business.

Personally I don't understand how a lender, in this case the federal government, can refuse repayment of a loan. It sounds like something a loan shark or a mobster might do to work you over for a little bit extra. Chicago politics? Aren't these guys supposed to be protecting the public? Instead it looks like they're running a protection racket.

Checkout the article I got this info from by the Wall Street Journal below and see if you can sleep tonight.

Barack Obama Maintains Control Over Banks By Refusing to Accept Repayment of TARP Money - WSJ.com.

I know I should have posted this before now but hey I'm only human, right? The latest existing construction report for Fayetteville NC homes shows the market holding steady with about 3 percent appreciation. Aveverage days on market are slightly higher. The number of homes sold is down about 4 percent and sellers are getting about 97 percent of their asking price. For more detailed analysis including charts click here and view the complete report.

Fayetteville NC homes market reports are now being hosted at my stand alone blogsite. I say blogsite because right now I have about 24 static pages, not just blog posts, up with information on Fayetteville nc real estate as well as the Fayetteville NC area in general. I see it as a good beginning but I plan to add much more content for interested buyers, sellers and people looking for info on Fayetteville.

If there are questions you'd like answered or a subject you'd like addressed please leave me a comment or send me a message and I'll do my best to address it.

Fayetteville NC homes got a boost in February as did the national market. Fayetteville's MLS showed an increase in units sold in February over January this year. The number still down from last February was seen as a good sign.

According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. New home sales were up for the month of February across the nation. Like the Fayetteville NC market the number is shy of February 2008's. It was the largest monthly sales jump since.., more from the Fayetteville NC Homes blogsite

As a general rule I try to avoid politics on my web pages but after this last week I feel I need to speak up. I see some wrongdoing taking place and I see it very clearly. But unlike the perceived consensus I don't see AIG as the wicked players.

About a month or so ago we got a stimulus bill, loaded with special interest projects at a time when the country doesn't have the funding to pay for it. It's gonna cost us close to a trillion dollars, a million million or $1,000,000,000,000 or 12 zeroes. Can anyone really comprehend how much money that is? Before the Stimulus we had the bank bailout, another $700 billion. And the nation is outraged because AIG paid employees $165 million in bonuses. I'm sorry but that is far south of a drop in the bucket.

Now bear with me, I know $165 million is a significant amount of money. I'm not saying otherwise, but I am saying maybe we should keep it in perspective. Washington just wrote a check that we can't cover and our grandchildren will have to deal with.

Now if it were only that. What really worries me is this, Connecticut Senator Dodd at the alleged urging of the Tim Geithner wrote an amendment into the stimulus bill which made the bonuses legal and obligatory under current contracts. The members of congress and senators screaming the loudest all approved when they voted the bill into law over a month ago. Last week week to a man or woman as the case may be they were shocked. Claiming it as an outrage.

So which is it negligent ommisson or willfull ommission, a lie or incompetence, both very dangerous traits for our leaders to have.

Here are some of the facts as I understand them:

• AIG almost went out of business and was bailed out with tax dollars
• AIG and/or the recipients of these bonuses broke no laws.
• AIG in fact was obligated by contract to pay the bonuses and subject to stiff penalties under Connecticut state law if they did not pay.
• The bonuses leave a sour taste in my mouth and many Americans agree.
• Washington, congress not only knew about this but voted it into law a month ago
• Now that the public is aware Washington is outraged and shocked
• The same Polititians that told AIG to pay the bonuses are now out to punish AIG and the recipients

Now we get to why I'm troubled, Congress is punishing a small group of people for following laws they voted for a month ago. Punish is the operative word but ruin is more like it. The ferver is so intense these recipients in some cases fear for their family's lives and our leaders who are culpable themselves are stoking the public's anger. How irresponsible is that. These are the people we depend on to keep us safe.

If the bonuses are so horrible and wicked why is aren't more people asking for explanations from our congressmen and senators for approving of them? Why do they get to claim no involvement when they so clearly were? Where are the question from the investigative reporters? Who thinks they are really safe from politicians who will turn on a dime and ruin people who broke no laws just to gain favor with the masses?

This reminds me of a closing I had about a year ago. The couple was divorcing, in bankruptcy and they were about to go into foreclosure. They contacted me and we met, a CMA showed that they had enough equity to sell and keep several thousand dollars. So we put the home on the market at a discount and listed it with a higher than average ccommission hoping for a fast sell. It worked, one week later we had a full priced contract and 30 days later the home was sold.

The sale was harder than usual to execute because of the bankruptcy but everyone pulled together and made it happen. I'll never forget at the closing table, the wife complained about having to pay the fee, one week earlier I was their savior. I had made thousands of dollars appear where the specter of foreclosure loomed but now I was a bad guy because I was getting paid. Thank god we had a contract and there weren't any politicians around.

A deal is a deal folks. What's gonna happen to business, real estate included, when contracts are subject to the winds of politics and whims of politicians?

Hi All,

Looking for a way to get your site ranked or build some backlinks? Maybe Earn some money (instead of spending it) to build your SEO? The Answer might be Qassia. You can add your websites, and get virtually unlimited backlinks.

There is no fee, or to reciprocal links back to Qassia. Websites are processed instantly and ranked by the amount of credits you have amassed.To earn credits, you add intel, i.e. tidbits of knowledge, facts, tips, etc. Posting info and being social just like we do at AR.

Promoting a web site can be a challenge, and it's getting harder. We may spend hours upon hours exchanging links. Many give up, and splurge on advertising - which is why Google Adwords earns $1 billion per quarter. 

How will Qassia help generate traffic? At Qassia, you will get credit for adding your knowledge. The more credit you get, the better your sites will rank. 

Qassia is growing fast (10K members already) and will only continue to grow. Did I mention you can run google ads and get paid for it. Check Qassia out for yourself. Its is still Free to join but is in closed beta and you can only get in by referral. If you'd like a referral email me and I'll send you one. It's free so why not give it a try?

Qassia.com

As a Fayetteville NC real estate agent I keep up with local market stats so I can properly advise my clients. Yesterday I recieved a request for a report on the Lagragne subdivision. If you are a regular reader or subscriber you already know that I post these reports often and if you want to see one on your area simply email me or post a comment below with your request.

Lagrange is a lower than average priced nieghborhood in the Fayetteville North Carolina real estate market. The homes were built from the mid 1960s through the 70s. The homes are mainly ranch style architecture typical of the era with a few split and tri-levels scattered about. Carports and garages are common. Brick and siding is the most popular exterior. the subdivision is just outside the Reilly gate to Ft Bragg North Carolina, making it popular with people who need easy access to post.

Lagrange's Statistics:

21 Homes sold in 2007 (45% annual reduction)

38 Homes sold in 2006

23 active for sale listings

2 pending sales

The average price in Lagrange not including foreclosure properties was $98,303 last year that's up from 2006's price of $91,104. Sellers are currently getting 95.88% of asking price, Fayetteville NC's market average on existing homes is just over 98%. the average ome in Lagrange was 1500 square feet and was on market 80 days before selling. There is currently 13 months worth of homes inventory in Lagrange, about twice Fayetteville's average.

______________ 

For a no obligation review of homes in your area email me or call toll free (866) 390-9257 ext 1100

If you want to search (foreclosures, and everything else) all real estate for sale in Fayetteville NC click here to get started at  favoriteHomeFinder.com

or get a FREE over the web, no obligation accurate home value check click here to get started at  favoriteHomeFinder.com 

Get the hottest newest listings 1st, to get a leg up on other buyers in the market click here to get listing alerts at  favoriteHomeFinder.com

Ron Allen Fayetteville NC real estate agent