The Jacob’s Ridge community features 5 lots on W. Kerr Scott Dam & Reservoir. All lots are lakefront and have access to public water, saving owners from $5,000 to $10,000 on drilling a well.

The entire development also features underground utilities. The lots are clustered around a “dead-end” cul-de-sac on a private road. Currently, the owner is offering $10,000 cash rebate to buyer!

Driving directions are 421 North from Wilkesboro NC towards Boone, turn left on South Recreation Rd., then right on Rocky Point Rd. Look for the sign at Nicole Ln., then turn right on Jacob’s Way.

W. Kerr Scott Lake is 1500 acres with 50 miles of shoreline and is controlled by the US Army Corps of Engineers. It is clean water with good fishing and is excellent for boating, kayaking, skiing, and swimming. The property is surrounded by National Parks. Wilkesboro NC is a beautiful community and town with friendly people. It is located just 40 miles east of Boone NC and Blowing Rock NC and one and a half hours northwest of Charlotte.

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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search for : Jacob’s Ridge, W. Kerr Scott Dam & Reservoir, W. Kerr Scott Lake, Wilkesboro NC, Boone NC, Blowing Rock NC

We usually define a “conventional” mortgage as financing with 20 percent down. Since most people don’t happen to have 20 down much less 20 percent plus closing costs, there has always been a market for mortgages that somehow require fewer dollars up front. The way you get loans with less down is to find a financially-strong co-signer, someone or something that will bail out the lender if you can’t repay your mortgage. Loans guaranteed by the VA, FHA or private-mortgage insurance (MI) all allow borrowers to buy with little or nothing down.

But — and you knew this was coming — insurance requires an insurance premium, so to buy with little down AND without the cost of insurance, borrowers and lenders during the past few years increasingly turned to “piggyback” financing. With piggyback financing (commonly known as piggyback loans) you get a first loan for 80 percent of the purchase price and a second loan for 10-, 15- or 20-percent of the home’s value. The result is little or nothing down, plus no cost for mortgage insurance. (more…)

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$5,850,000

MLS Number: 50913

City: Valle Crucis, NC
Stories: 2
Bedrooms: 4 Baths: 4.5
Area: Boone-Blowing Rock, NC
Year Built: 1990
Plus Five fully furnished 1,400 sq. ft. Rental Cottages. Each built in 1996 on approx. 1/2 acre sites. Current cottage average annual rental income $150,000.

39.4 acres with 360 degree view of Blue Ridge Mountains.

5,200 sq. ft. main house built in 1990 on 1.24 acres.

No restrictions and no zoning offer many other options:

* Family compound
* Corporate retreat
* Religous retreat
* Horse farm / Dude ranch
* Recording studio
* Cottages can be sold separately
* Land can be further subdivided if desired

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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search for : Valle Crucis, NC, Blowing Rock, NC, Blue Ridge Mountains

Mortgage giant Freddie Mac — emboldened by emergency regulatory actions that have triggered a two-day rebound in its battered stock — is considering raising capital by selling as much as $10 billion in new shares to investors, according to people familiar with the matter.

The high-stakes maneuver would have the potential to avoid a full-blown government rescue for Freddie Mac and Fannie Mae, twin keystones of the U.S. housing market. The publicly traded, government-sponsored companies own or guarantee about $5.2 trillion of home mortgages, or nearly half the total outstanding, and are at the center of government efforts to prop up the sagging housing market. (more…)

WEST JEFFERSON NC MOUNTAIN PROPERTY

87.5 +/- Acres Available For Residential Subdivision Mountain Development, 7 miles from West Jefferson, NC

Paved Road and Bridge Built To State Specifications.

Average of $23,000 per acre.

This Property Should Retail For Approximately $50,000 to $60,000 per acre.

ALL PROPERTY HAS LONG RANGE MOUNTAIN VIEWS

Contact Greg Stikeleather, Broker, 704.880.5247

or

email Greg at grstike@charter.net

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When is a reverse mortgage paid? A reverse mortgage is a loan against your home that you are not required to pay back as long as you live there. The loan is repaid from the borrower’s estate or the eventual sale of the home when the last surviving borrower no longer lives in the home. Money can be received in a lump sum, monthly payments, or through a line of credit.

How do you qualify for a reverse mortgage? You must be 62 years or older to qualify and there are no income or credit requirements for a reverse mortgage. The amount you can borrow in a reverse mortgage is determined by your age, your home’s value and interest rates. The older you are, the more you can borrow.

Will I lose my home? The bank never takes over the deed unless there is a default. Defaults can occur if the taxes and insurance are not paid current or the homeowner doesn’t live in the home for a one-year period. (more…)

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Vacation property, an investment for retirement or a permanent residence, this Lake James waterfront home may be your dream property.

The beautiful water front home is located in a private community with spectacular views of the Blue Ridge Mountains. It has a double deck boat dock, an enclosed boat garage and a private ramp to launch your own watercraft. The home was built originally in 1972 and totally renovated in 2002. A four car detached garage was built in 2002.

There is a total of 264 ft. of water front. Beautiful three tier sea walls accent this elegant home. Hard wood and tile floors, modern appliances and vaulted ceilings are only a few of the amenities that capture you with this home.

Private dock permit.

List Price: $1,800,000
Flexibility: Willing to finance
Acreage: .75 acres
Type: Waterfront

Floors: 2
Bedrooms: 4
Bathrooms: 4
Sq. Footage: 3700
Garage Size: 4.0
Year Built: 1972, totally renovated in 2002
School District: Nebo

Suitable Use: Residential

Topography: Rolling
Road Frontage: Private Road
Location: Lake James, Burke County, NC

Amenities: Waterfront, Fireplace, Central AC, Alarm, Wood Floors, Gas Range, Patio, Wheelchair Accessible, Nature/Bike Paths, Boating, Controlled Access, Spa/Jacuzzi

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search for : Lake James waterfront home, Blue Ridge Mountains, Lake James, Burke County, NC

Reverse mortgages, which enable seniors to borrow money against their homes that won’t get repaid until after they move out or die, can be useful tools. But they aren’t foolproof. These increasingly popular loans are also the subject of many consumer complaints.

The economy has changed in ways that could drive an increase in reverse mortgage fraud. The loans have been growing more popular as Baby Boomers look for ways to retire comfortably; 107,367 Home Equity Conversion Mortgage cases were endorsed for insurance from October to September 2007, compared to 76,282 in the comparable period of 2006 and only 157 in 1990, according to the U.S. Department of Housing and Urban Development. (more…)

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