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When buying a home, one of the most important items on your check list should be covenants. There is a disagreement as to what to call these pages of paperwork. I myself would like to view them as being Protective, where as others see them as impinging on their personal rights as a home owner. These documents are put into place from the conception of the neighborhood. They are to make sure that property values are not harmed by what one indiviual may or may not do with their property.

Before I show some one a neighborhood, I try to ask them a few questions that I know would help them with their decision to buy or not in that area. Here are a few examples of what one might see in a set of covenants.

1. Type of dog: Some communities are restricting the type of dog that can be brought into the community. I know of at least 4 areas between New Bern and Havelock that have this rule. Brices Crossing, Lynwood Heights, Tucker Creek, just to name a few.

2. Fences: There are many areas that do not allow fences to be built. Those that do allow fences have regulations on the material and height of the fence. Most allow vinyl or wood fences of no more than 4 feet in height. There are only a few areas that will allow a chain link fence. If you choose a home on a golf course lot, forget about a fence, most neighborhoods do not allow them to be built.          

3. Campers/Boats: A lot of communities do not allow campers and/or boats to be kept in the driveway.

Here is an example of a Protective covenants: here is a link to Taberna’s Covenants

6 Reasons Why I say, I would buy a home in New Bern NC.

1. In all of the years I have sold real estate, the prices have never been so good.
2. Interest rates are a lot lower now than when I bought my first home 7.875.
3. Many different types of loans will be available to people with good credit. ( A reward for paying their bills)
4. A tax credit of $8,000 will be given to 1st time home buyers.
5. There is a great selection of homes with little to no problems or issues.
6. You don’t have to settle for something you “sort of like”, get what you have always wanted!

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 A big part of what I do involves education since it is important to me that my clients know exactly how things work. Part of this education process is to explain how Real Estate agents get paid.

When it comes to Real Estate Commissions, each state has it’s own policies on how an agent is to be payed.

In North Carolina each agency can choose to set a policy as to what percentage they will accept.

Agents get payed at the closing of a home or property from the seller through the MLS system . This amount is predetermined at the time a listing is taken by the listing agent and their client.

Now, if an agent is a Buyer’s Agent they have a clause in the buyer agency agreement that can allow them to be paid more than the listing agent is offering. For example, if a commission that is listed on the multiple listing sheet states that the co-broke will be paid 2.5% but the Buyer’s Agreement states that the Buyer’s Agent is to be paid 3% of the sales price then the Buyer’s Agent can collect the difference from his or her client.

Here is the official definition of a buyer’s agent as stated by the NC Real Estate Commission:

“When buying real estate, you may have several choices as to how you want a real estate firm and its agents to work with you. For example, you may want them to represent only you (as a buyer’s agent)….for the complete definition click here.

In the Event a buyer’s agent has a client that would like to purchase a home that is a for sale by owner, then the agent can negotiate with the seller to pay their commission. If the seller does not, then the agent may be able to collect their commission from the buyer based on the buyer agency agreement.

I have worked out many for sale by owner offers without any issues over how I would be paid, it just takes proper negotiations.

 Whether it is renting in New Bern, at the Beaches or in the Mountains, people are looking for rental homes all over the United States.

1.  Interview multiple Agencies: Not every rental agency carries every rental. Go to at least 3 different ones. Read the agreements from cover to cover to make sure you understand what you are liable for.

2. Got Bad Credit: If you have bad credit you may not be able to rent. All responsible rental agencies check your credit. For example, if your home goes into foreclosure, this process surly will ruin you credit. Not only will you be removed from your home, you will not be able to rent.

3. Great interest rates: With the lowest interest rates in history being experienced, you may be able to buy a home for what you can rent one for. Call your local mortgage company to see what you can qualify for.

1. Know what you want before you get in the car: Make a list of what you need to have in a home to be happy and what might be nice to have in a home.

2. Pre-Approval: Start with your bank and have them go through the pre-approval process with you. This is important not only for your bargaining power but it also shows how serious a buyer you are.

3. Do some Research: Go on the Internet and talk to people that live in the areas that you are interested in living. Find out what school systems serve that area, community amenities, Owners Association fees, Insurance costs, Flood zones, Hazards etc.

1. There are not many new homes priced under $200,000 left in New Bern or Havelock NC anymore.

2. This area is convenient to both New Bern and Havelock, just 10 min to the MCAS at Cherry Point or 10 min into Downtown New Bern.

3. Over the years this area, we call it Area 4 or 11(depending on which side of the Hwy you are located) has appreciated in value like no other area.

For more information on Indian Woods visit www.Ncpropertiesonline.com

Did you know that your VA entitlement could be used more than once if your home was sold and the purchaser obtained a new loan?  Also, a bonus entitlement may assist you in purchasing another home with your VA entitlement depending on the loan amount and your remaining entitlement. 

Did you know that a VA loan might be assumable subject to certain restrictions? 

Did you know that some veterans are “Exempt” from the VA funding fee or you may receive a reduced VA funding fee with as little as a 5% down payment even on subsequent use. 

Did you know you that you may be able to refinance your VA loan to a lower interest rate without cash out of pocket? 

Did you know that a seller could pay your closing costs on a VA loan up to a certain amount? 

Did you know that VA does not set the interest rates?  Therefore, it is a very competitive market and you may want to compare interest rates.  However, when comparing interest rates compare discount points and loan origination fees, if any.

After reading an article today from the

“Bloodhound” called

“We first warned

 you about Lending 

Tree a year ago”,   

 I am even more concerned when a client wants to use an Internet Lender! 

Apparently, some of Lending Tree’s former employees were allowing other lenders to steel protected private passwords of Lending Tree’s customers. They gave personal information to these outside predators such as social security number, income and employee data.   

 By the practices above, It only reconfirms the advise that I have been giving to my clients over the years I have been a Real Estate agent.  I have always recommended that my clients use lenders that they personally know or that are recommended to them from reliable sources. The safe thing about using a local lender is that they keep your information with in their organization, write their loans in house and are excessible to you face to face. Talking to someone face to face sure gives you a lot more information about who you are dealing with then a computer screen does. 

If there is an issue, a local mortgage company can provide you with answers in person that day, not have to wait for someone to pick up their emails. These local business men and women care about their reputation in the towns where they live and are less likely to do something wrong because of that reason. Real Estate agents like to work with these local individuals because of the services they do provide. They call back our clients in a timely manner, explain the loan process thoroughly and communicate with all of the other local experts involved in the transaction.

For these reasons and more I would always recommend a bank or mortgage company that I can reach out and touch, literally!        

Why is it important for me to understand interest rates?

Well this is a big DUH!

How about saving money or buying a bigger home? If you just get this one concept then you will be ready to go shopping. Interest rates are not just numbers for bankers or mortgage people to review, they are for you. They affect things like your monthly payment and the total amount of money you would have spent on the home to name a few.

Here is an example that was given in an article called “Why Home Buyers Should Understand the Importance of Interest Rate Drops” by  Ki Gray

Using a mortgage calculator first let’s look at the difference between the mortgage on a 200k and the mortgage on a 195k house assuming a 6.5 percent interest rate.

200k  (6.5%)  Mortgage  $1264.13 per month
195k  (6.5%)  Mortgage  $1232.53 per month

The difference ends up being $31.60 a month.

Now let’s look at the difference between an interest rate of 6.5% and 6.0% on a 200k house.

200k  (6.5%)  Mortgage  1264.13 per month
200k  (6.0%)  Mortgage  1199.10 per month

The difference ends up being $65.03 a month or $780.36 a year. A simple half point drop lowered the mortgage payment by 5.4 percent.

Ki even has a tool for interest rates. 

When comparing mortgages, also keep in mind to note the differences in fees, although they may not affect your monthly numbers, you may pay more up front at closing.

Be Sharp, Save Money!