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You are currently browsing the Asheville 4 Seasons Realty blog archives for June, 2010.
Walking out on the mortgage? Not so fast.
June 21st, 2010
Even in Asheville, North Carolina it happens. I must admit that I am guilty of it. I have unfairly judged some of my neighbors who have gone to foreclosure – times are rough. That being said if you are relying solely on the headlines, you might be tempted to think that most people who owe more on their home than its current market value were walking away from their mortgages and allowing the property to go into foreclosure. The reality is that is just not the case. In fact, most people still think paying the mortgage is a priority. According to the National Foundation for Credit Counseling’s 2010 Financial Literacy Survey.
The survey also asked under what circumstances, if any, it’s okay to default on a mortgage. Only 23% of respondents answered that foreclosure is justifiable if the property is now worth less than what is owed on it. Further, 15% replied that there is no justifiable circumstance under which it would be acceptable to default on a mortgage.
The survey also found the overwhelming majority of consumers, even those in financial distress, still consider their mortgage payment a priority. When asked if they were unable to meet all of their financial obligations, would they be more likely to keep their mortgage current, or their credit cards current, 91% of respondents said they would pay their mortgage first.
“Taken together, the NFCC survey data brings us some encouraging news: Consumers still place a priority on making their mortgage payment, less than one-fourth think that defaulting on a mortgage is justifiable simply because the property is underwater, and a significant number take mortgage obligations so seriously that they find no acceptable reason to default on a home loan,” said Gail Cunningham, spokesperson for the NFCC. “Americans continue to prioritize their obligation to service their mortgage loan, and this is indeed good news for homeowners, mortgage lenders, and the housing market overall.”
Source: National Foundation for Credit Counseling
Posted in Asheville, Foreclosures, Uncategorized | 1 Comment »
Alive and Kickin’
June 11th, 2010
True Confections
This past Sunday I had the opportunity to just wander downtown Asheville, something I haven’t done in several months. I must say…I was surprised at all of the new businesses that have opened up. True, some have closed, and there are a few empty shop fronts, but all in all, downtown is ALIVE and KICKIN’.
The Chocolate Fetish
We started out visiting one of my favorite pastry shops, True Confections, for a piece of fudge and a latte’ (decaf of course). While we paid, the friendly cashier and I shared recipes for a cucumber salad…typical Asheville, friendly folks and never know where you’ll meet a fellow budding chef. It would be easy to eat my way around downtown but today wasn’t a foodie trip, just wanted to stroll and see what was new. Chocolate Fetish has expanded, looks as though it doubled its retail space and it was still crowded- not surprising since it has won all sorts of awards…I get weak in the knees just walking in the door. Several doors down on Haywood Street is the new
The Tea and Spice Exhange
Spice & Tea Exchange. If you grew up like I did, thinking salt always came out of the blue container with the little girl and the umbrella- you are in for a surprise…there are rows and rows of different types of salt, as well as spices, teas and custom blends of each and wonderful specialty items.
Lexington Avenue Brewing
Ok, I promised it wouldn’t all be food, but it is getting hard to bypass all the new restaurants. We did stop in Urban Outfitters, also on Haywood, which has the distinction of being the only downtown chain store. We have proudly preserved our “independent” reputation up to this point, but I honestly don’t see UO as a “big box” contender. Plus, it may well draw a younger age group to our downtown who may have only thought of shopping at the mall….time will tell and I’m all for bring new faces (i.e. shoppers) downtown. Across the street at is an organic cotton clothing store. Unfortunately, it was closed but there was a really cool dress in the window that may require further investigation. Down College to Lexington…wow, has that changed. The Green Light Café- an organic café, Edge- a new high end hand crafted furniture store, a new brew-pub-The LAB, the list goes on.
On of my favorite pastimes are vintage clothing stores- and Lexington Ave has a great selection- my favorite is Hip Replacements- I could spend hours and plenty of money in there and the owners were kind enough to let us wander even though it was past closing time. Her comment…”we have plenty to do, so enjoy”…and we did!
More to come….
Suzanne
Posted in Ramblings from a Realtor | No Comments »
Coronation Gold Yarrow
June 7th, 2010
I love my Coronation Gold yarrow; no other yarrow will do. I have tried the reds and pinks over the years and have not been impressed in the least. Their colors fade in the blink of an eye and the least bit of breeze or light rain leaves them prostrate. Nope, don’t like them. Give me the Coronation Gold anytime. Aptly named, the flowers are like gold crowns atop each stem. And like one would imagine crowned royalty, Coronation Gold’s flower stems remain proper and almost formal, never unruly, standing straight and tall with their crowns always toward the sun.
So why did I plant just one? I can see in my mind’s eye a grouping of them, three at the least; five would have been so lovely and quite a statement. I also would have had plenty to dry. Envision small bouquets tied with brown twine and accompanied with pepper jelly or pesto as Christmas presents. Now, that would be nice!
Oh well, next year. There is always next year.
Posted in Crane Digs Asheville | No Comments »
Homeowner Insurance – What’s your type?
June 3rd, 2010
A Simple Guide to North Carolina Homeowners Insurance
This is the second installment of our Homeowners Insurance Blogs…
The average North Carolina homeowner insurance rate in April 2010 was $524.00 annually. It appears that rates have decreased since March 2010 when average rates in North Carolina were around $531.00. Saving money, even a paltry$7 dollars, is a good thing. Currently in the state with such affordable house insurance rates, finding quality, affordable coverage is relatively easy for North Carolina residents. Purchasing house insurance is important in order to protect your home against perils of life, like fires, burglaries, wind damage, and more. However, although North Carolina’s climate is generally appealing, the state also sees its share of severe weather, particularly hurricanes. By choosing a well-rounded homeowners insurance policy, you can safeguard the investment in your home from these common perils.
Basic Coverages
North Carolina law does not require homeowners to insure their dwelling, but you would be reckless not to consider it. However, if you have a mortgage, your lender will most likely require you to purchase at least a basic policy. A standard North Carolina home insurance policy will contain two sections with different types of coverages. Section I includes property coverages (A, B, C, and D), while Section II includes liability coverages (E and F). Each type of coverage will be described briefly below.
- Coverage A (dwelling) – protects the actual structure of the home and any fixtures included within it (e.g., plumbing, air conditioning, heating, etc.). You should insure your dwelling for at least 80% of its replacement cost.
- Coverage B (other structures) – protects other structures on your property that may or may not be attached to the home, such as garages and sheds. The coverage limit for other structures is usually limited to 10% of the limit for Coverage A.
- Coverage C (personal property) – protects the belongings you and the members of your household store in your home. Coverage C is typically limited to 50% of Coverage A.
- Coverage D (loss of use) – pays for your living expenses while your home is being replaced or repaired after suffering a covered loss. Examples of covered living expenses might include the cost of a hotel and meals.
- Coverage E (personal liability) – provides protection if you or a member of your household are found legally responsible for injuring another person. Coverage E will pay for your legal defense and cover the cost of damages.
- Coverage F (medical payments) – pays for the medical costs of anyone injured accidentally on your property. This coverage applies only to people who do not live in your household.
Exemptions to Low Rates: High-Risk Locations
The state of North Carolina offers alternative coverage options to
homeowners who live in high-risk areas and may not qualify for traditional home insurance coverage. For example, if your home is near a beach, it is more likely to suffer wind and storm damage, which makes it a high-risk location. If you live in a high-risk area, you may qualify for the North Carolina Joint Underwriting Association (NCJUA) FAIR plan. The FAIR (Fair Access to Insurance Requirements) plan pools the high risk of certain homeowners among many different property insurers. Any homeowner or renter can apply for a FAIR plan by contacting the North Carolina Department of Insurance.
Shopping for insurance is not fun anyone who would suggest otherwise should be considered for a psychiatric exam. However the internet has made things easier to be sure. I found a semi cool insurance website (is that even possible?) that allows you to scroll over any state and get an average policy rate. Each state is click-able and you can start from there. However, this is not an endorsement of this company and should not be construed as such. However it is an easy way to get started and we encourage you to check it out and use it as jumping off point http://homeinsurance.com/rates-in-your-state/.
Posted in Homeowners Insurance, North Carolina | No Comments »
Hike along the Parkway to Craggy Gardens
June 2nd, 2010
Catawba Rhododendrons
Species Unknown?
Blueberries Anyone?
It’s been awhile since I’d been up to Craggy Gardens so with a few free hours over the Memorial Day weekend, I headed up with a friend. There was plenty of parking, as apparently this wasn’t on many peoples “must visit” list this weekend. Lot’s of picnic tables, and even a real working toilet facility makes this a great place to start the hike. It was considerably cooler up here and the first thing we both noticed was how winded we both were, after just 10 minutes of walking. It’s easy to forget that altitude affects more than attitude around here…it greatly affects your breathing. So we paced ourselves and continued on and I am so glad we did. One of the few things I really miss in leaving New Hampshire are the plethora of wild blueberries and I felt as though I hit paydirt here. Granted, the fields weren’t completely filled with blueberry bushes, but there was more than I’ve seen in years. The flowers just starting to close up and turn to berries, but I plan on going back up in 4 weeks to see how they are progressing…can’t wait to bake my first batch of blueberry muffins! Just as a side note- there are dozens of varieties of blueberry plants- some tall bushes, other are lower and there are some that actually look to be more like grown cover- these appeared to be the talker bush variety. The Rhododendrons hadn’t bloomed yet, but we did notice an odd bush, probably a small tree. It appeared to be bared except for interestingly shaped red-dish leaves that are well spaced- I have included a picture ifanyone recognizes it, please let me know. As we reached the Bald area of the gardens and read the informational plaque- we tried to envision herds of Elk and Bison grazing in the open field at an altitude of over 5300 feet above sea level. The tall, lushly green, wavy grass helped add to that vision, but what I really kept coming up with for a vision was Julie Andrews with the Sound of Music playing in the background. From there we wondered through a tunnel of Catawba Rhododendrons, coming out to a breathtaking view of what I call mountain echoes…with the parkway snaking along in the background. We spent several hours just wondering, taking pictures of birds and plants and the views- how seldom do we just wander down a path, with no where in particular to go and no need to watch the clock. As we headed back to the car, I said a quite thank to Mr. Roosevelt for acting on his the vision back on 1935.
Mountain Echoes
Posted in Ramblings from a Realtor | No Comments »
Container Gardening
June 1st, 2010
I have to have a home grown tomato soon or I know I will die. I just know it.
At present, I have two plants growing in containers; a cherry tomato and the other I am not sure of what it is; I lost the tag. Just like with the peppers, I am beginning to think two plants are not enough but then I remember that I am practicing patience, at least for a few more days. Plus, I have been encouraging my friends and neighbors to go ahead and plant more when they ask if I think they have enough. By August, I should have enough home grown tomatoes at my finger tips than I could ever dream and with very little expense and work on my part.
I do like container gardening and have had great luck with it. Of course, you have to keep a number of things in mind: have large enough containers for your plants, do not cheap out on the potting soil and if doing tomatoes, buy varieties that actually say “for containers.” Finally, put them in full sun (and not just where the pots look pretty) and don’t forget to water. 
Along with my two tomatoes, I also have basil in a container. When I first started growing basil I thought 3 plants would be just right. I did that only once. The following years it has been two and I have always had more basil (and pesto) than I needed or could keep up with. This year, I am going to try just one. I am worried about that a little, but once again, there are my neighbors. And don’t forget, the trick to basil is pinch, pinch, and pinch! Katie is my official pincher.
Posted in Crane Digs Asheville | No Comments »