It is a great time to buy real estate in Cashiers NC.  Mortgage rates hit a new historical low this past week with rates averaging 4.44%.  It is a buyer’s market when it comes to Cashiers real estate.  Not only are mortgage rates incredibly low, enabling quite a savings over the lifetime of a loan, but home values are lower than they have been in recent years and inventory is high.

Summer is the time to look at real estate in Cashiers North Carolina.  Activities and festivities are in full swing and Cashiers could not be more alive.  Th e outdoor environment is what brings people to Cashiers but it is the lifestyle that keeps people here.  If you have been wanting to relocate to Cashiers or purchase a second home in this southern Blue Ridge Mountain region it is a great time to start looking.

Contact us today to learn more about the Cashiers real estate market.  We would be happy to educate you on the area and use our knowledge to help you find the perfect home that suits your needs.

For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 866-526-3558 or email us today at info@meadowsmtnrealty.com.

If you have a vacation home that you had hoped to retire to some day but have since changed your mind, don’t jump to sell it…consider renting it out instead.

For many, it seemed like a great idea to buy that vacation home or condo 20 years ago.   The plan was to vacation in the mountains as often as possible, then some day sell your primary residence and retire  to Highlands or Cashiers.   But lifestyle changes or financial situations might now be causing you to consider selling it instead.

However, as a member of the Top 5 in Real Estate Network®, I have seen many clients successfully rent their retirement home instead of selling it.  Author Christine Karpinski, director of Owner Community for HomeAway.com (HomeAway.com), offers some good reasons to consider renting your second home:

1. Circumstances have changed. Maybe grandchildren have arrived on the scene and you can’t bear the thought of moving hundreds of miles away from them. Or your parents are in poor health and need you nearby.

2. You’ve suddenly realized there’s no place like home and you’ve simply changed your mind. You’ve decided you like being near your friends and you don’t want to leave your current community.   Renting your second home out during the time you are not staying there makes it financially feasible to keep both homes.

3. You’ve decided to “retire” from retirement.   Nowadays, it’s not unusual for people to test-drive retirement and find that it’s just not for them.   Work can provide many rich rewards—structure, social interaction, mental stimulation, a sense of purpose, and so forth—that people keenly miss when they retire. And, let’s be honest—sometimes people simply can’t afford to retire.

4. Your fixed income hasn’t kept up with your lifestyle.  Even when you’re happy to give up the daily grind of your job, losing the paycheck that comes with it can be pretty painful.  Factor in inflation, rising taxes, and unexpected “new” expenses, and you may find that what seemed like a manageable cost of living five years ago doesn’t seem that way anymore.  Your second home, even if it’s paid for, may start looking like a liability due to property taxes, homeowner’s association dues, and maintenance costs. Not if you rent it out, says Karpinski. Then it becomes a source of new income.

So don’t give up and seek to unload your Highlands or Cashiers second home just yet!    There are still many ways to make this investment pay off. For more information on renting or buying a second, potential retirement home, please send an email to info@meadowsmtnrealty.com or give us a call at 828-526-1717.    We have a great rental department with a rental website at www.renthighlandsnc.com.

If you’re looking to sell or refinance your home, you know that a home appraisal is a necessary step in the process.  Even though the value of your home may not be as high as it once was, it is important for homeowners to be realistic when it comes to getting their home appraised.

As a member of the Top 5 in Real Estate Network®, I know how vital it is to list your home at the right price.  Although price is only a part of marketing, it is important and having an appraisal done is the first step toward making the  pricing decision.

Here are 10 ways to prepare for a home appraisal:

1. The appraiser will need approximately 30 minutes to one hour to complete the inspection phase of the appraisal process, which includes: exterior photos of the front and rear of the home and a photo of the street in front of the property; measurements of the exterior of the home, garage and any outbuildings; a walk-through inspection of all rooms and levels of the interior of the home, including the basement.
2. Get organized. Put together a checklist that will help you get ready for your appraisal.
3. Be flexible when scheduling the appointment.
4. If possible, have a copy of your home’s floorplan to help verify measurements and lot size.
5. Provide a list of improvements made to the property since the purchase.  Include improvements like adding a deck, updating your kitchen or bathroom, and any room additions, etc.
6. Allow your appraiser access to the entire property, including access to any crawl space or attic areas.
7. Keep in mind that a clean home makes a good impression. Be sure to trim the lawn, clean our garage, repair cracked windows or torn screens, check for leaky faucets and secure gutters and down spouts before your appraisal.
8. Point out any amenities that may not be obvious to the appraiser:  patios,  security systems,  vacuum, etc.
9. Provide a copy of last year’s tax assessment information.
10. Know what year the house was built and when improvements were made.
Following these steps will go a long way toward making the home appraisal process a bit easier.  For more information on home appraisals and preparing your home for sale, please email us at info@meadowsmtnrealty.com. 

If you are looking for your real estate  in Highlands NC or Cashiers NC, please give any of the brokers at Meadows Mountain Realty a call at 866-526-3558.  Visit our website at www.meadowsmtnrealty.com

In these uncertain economic times, many Americans are living from paycheck to paycheck, often extending themselves even further through credit card debt.     For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings.   One option is a real estate short sale.   

 To help understand how a short sale differs from a foreclosure, it may be helpful to point out that short sales can also be referred to as “pre-foreclosure sales” which, as the name implies, precedes the home being officially repossessed or foreclosed on by the lender.

When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due.    Banks grant short sales for two reasons: the seller has a hardship, and the seller owes more on the mortgage than the home is worth.    It might seem counterintuitive for a lender to go along with a short sale. After all, a lender is legally entitled to pursue the full balance of the loan.   Foreclosure is an expensive and time-consuming process for a lender.  By agreeing to a short sale, the lender wraps up this little mess quickly, and perhaps with less of a loss than it would have incurred with a foreclosure.

Remember, after foreclosing, the lender owns the home and has to maintain it, insure it and pay taxes on it.  So instead of receiving payments each month, the lender is now forking out money every month.   Plus, short sales help the lender look good on paper — the property never gets listed as an actual foreclosure, which helps the lender’s numbers look better to bank regulators.  They see it as the lesser of two evils — if the numbers make sense for them.

 It should be noted that there are still negative implications for sellers in a short sale, even if less damaging than those associated with foreclosures and/or bankruptcy.  For example, a short sale homeowner’s credit will still be adversely affected by settling with the lender.   However, short sales do carry less negative effects than foreclosures.   Short sale sellers are widely seen as less risky than foreclosed sellers.   Case in point, Fannie Mae recently adjusted their guidelines to dictate only a two year waiting period for a short sale seller to buy another primary residence, while they extended the waiting period for foreclosures to five years.

Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the IRS could consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid.   I suggest that all borrowers obtain legal advice from a competent real estate attorney and call their accountant to discuss short sale tax ramifications.  

At its best, a short sale can be a win-win for both parties. For the seller, a short sale provides the opportunity to avoid foreclosure and the dreaded implications that a foreclosure brings, in addition to being able to return to home ownership sooner.  For the lender, a short sale attains most of the value of the loan sooner, and avoids incurring additional legal or carrying costs while the foreclosure process plays out, which can sometimes even take years.  

And, frankly, short sales are great options for savvy buyers.   The short sale process is still a mystery to many people, even after all these years.  Lots of buyer’s agents are confused; puzzled buyers are looking for direction, and not every short sale listing agent knows how to do a short sale.     Two of our agents at Meadows Mountain Realty are experts in short sales.  Tammy Mobley received the coveted Certified Distressed Property Expert (CDPE) Designation in 2009 and Tom Goldacker completed the Short Sale and Foreclosure Course earlier this year to receive his SFR Designation.   

If you are considering buying or selling a home in a short sale situation, call the experts at Meadows Mountain Realty at 828-526-1717 or stop by our office at 450 N. 4^th Street in Highlands.   We can also be reached by email at info@meadowsmtnrealty.com.

Chinquapin (Chink-a-pin) is one of the most recent additions to the communities of Cashiers NC.  Located next to Panthertown Valley, Chinquapin is set in an environment where residents are meant to escape from the hectic pace of the “real world” and enjoy nature and the serenity that it brings.  The Natahala National Forest borders this fabulous development, which includes 200 home sites spread out over 2,000 acres.

One highlight of owning in Chinquapin is a membership to Trillium Links and Lake Club, where golf, tennis, dining and exercise abound.  Chinquapin has dedicated 700 of its acres to conservation land, securing a future of open space and untouched natural beauty.  This Cashiers community offers endless trails on which to hike, bike and horseback ride, as well as wonderful fishing, canoeing and kayaking.  Chinquapin is truly a place to enjoy.

Chinquapin represents the best of Cashiers NC real estate, embracing the mountain lifestyle and creating a community that nurtures the soul.  To examine Chinquapin real estate opportunities contact us today.

For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 866-526-3558 or email us today at info@meadowsmtnrealty.com.

Cashiers North Carolina is made up of a variety of communities, offering different types of mountain lifestyles, one of which is Sassafras Ridge.  Sassafras Ridge is a stunning gated community where residents partake in luxury mountain living above the stunning Sapphire Valley.  The larger home sites in this Cashiers community secure one’s privacy, allowing residents to get away from it all and take advantage of their setting and views.

The community of Sassafras Ridge is bordered by United States Forest Service land and Golf Club Estates.  With meadows, creeks, cascading waterfalls and far reaching views this lovely gated community epitomizes luxury living in Cashiers NC.  Contact us today to learn more about Sassafras Ridge and the real estate opportunities that exist here.

For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 866-526-3558 or email us today at info@meadowsmtnrealty.com.

Burlingame at Sapphire Lakes offers splendid living in Cashiers NC.  With the Horsepasture River winding its way through Burlingame, and the beautiful Sapphire Lakes outside your door, trout fishing in beautiful North Carolina waters is an effortless trek to get to.

Burlingame at Sapphire Lakes offers the best of what Cashiers has to offer.  A low density development spread across 322 acres, Burlingame takes advantage of its beautiful setting and there are over four miles of hiking trails for those who like to enjoy nature on foot. 

In addition the Burlingame at Sapphire Lakes Country Club will not disappoint, complete with an 18 hole championship golf course, croquet lawns, a swimming pool, tennis courts and a fitness center.  The club is private, with limited memberships available to Burlingame property owners.

If you have been looking to build luxury real estate in Cashiers, contact us today to examine the available lots and help you find what suits your needs best.  We have access to all available listings in Cashiers and will use our knowledge and experience to help your home search a positive one.

For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 866-526-3558 or email us today at info@meadowsmtnrealty.com.

This question is central to both anxious home buyers and investors who are on the fence waiting for an economic recovery.   Even with historically low rates and with the first-time buyer tax credit  which the government hoped would inspire buyers to take the plunge — the number of new home purchase loans is expected to fall 4.6% this year, according to the Mortgage Bankers Association, a trade industry group.

Banks are still caught in the undertow of the mortgage crisis, and are under pressure from bank regulators to clean up the earlier mess and under pressure from stock holders to boost profits.    This pressure is increased by the government’s attempts to stem the growth of foreclosures and bring about recovery from the Great Recession.   For a list of foreclosures and short sales in Highlands and Cashiers NC click here.

You would think that healthier banks would be lending more.    However, consumers aren’t seeing increased mortgage lending because of tight underwriting standards associated with Fannie Mae, Freddie Mac and the Federal Housing Administration.   The banks are not really in direct control of the underwriting standards of residential mortgages.   These firmer lending standards seem to be a return to what it was like to get a mortgage before the housing bubble.  If you couldn’t get a mortgage in 2000, you probably won’t get one now.

For lending to increase, some experts say the government will have to play a role in softening the standards – at least slightly – of getting a mortgage through Fannie and Freddie, which typically require a minimum 20% down payment.   This requirement is one reason why FHA originations – which require a 3.5% down payment – have gone from 2% of the mortgage origination marketplace in 2006 to 35% in the present market.

There is a bright spot which helps the Highlands and Cashiers market.   That is a mild loosening of jumbo-mortgage lending relative to price.     The jumbo mortgages have a couple of advantages for lenders.   The banks are allowed to set the standards for the loans, and the loans can go on their books.    The most immediate link between a financially healthier bank and increased lending will likely be seen with these mortgages since banks have full underwriting control over them.

It is expected that moving forward, mortgage lending will remain a significant portion of the large banks’ business; the Mortgage Bankers Association expects new mortgage originations to climb 14% in 2011 up almost 10% from this year.

For questions about real estate in Highlands and Cashiers NC, ask the experts at Meadows Mountain Realty, your best source for up to the minute information about your best investment.

Cashiers North Carolina offers many different options for private community living, one of which is Trillium.  Trillium is so much more than a golf course community, offering a lifestyle and amenities that span a multitude of ages and interests.

Trillium is located on Lake Glenville and offers everything from an 18 hole championship golf course (designed by Morris Hatalsky), boat slips and boat rentals,  to a fitness center, restaurant and more.  Owning a home in Trillium allows residents to escape to an effortless lifestyle that allows ample opportunities to enjoy the beautiful setting that Cashiers NC provides.

Of course owning Trillium real estate is a golfer’s dream, but the non-golfer can be satisfied as well.  If you are interested in fulfilling your dream of owning a home in a private community in Cashiers NC, the community of Trillium might be just what you are looking for.  Contact us, the brokers at Meadows Mountain realty, today to look at Cashiers NC real estate and the lifestyle that is available here.

For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 866-526-3558 or email us today at info@meadowsmtnrealty.com.

If you are selling your Cashiers NC real estate it is a good time to begin thinking about your landscaping.  Winter is drawing to a close and your lawn, gardens, flowers and shrubbery are beginning to be exposed if they are not already.  The landscaping and entry to your C ashiers home is what people see first and, as they say, you never get another chance to make a first impression.

To get your Cashiers home ready to sell you need to do some Spring cleaning, which makes most people think of the inside.  Never forget the outside because it is the first thing that people see.  The melting of snow leaves a lawn that needs to be raked back to life, shrubs that may need to be pruned, flower beds that need to be weeded and readied.  Spring landscaping projects will be easier if work was done in the Fall.

If your Cashiers real estate is a second home, and you are not available to do the work yourself, your Realtor should be able to recommend a good landscape company.  If you do not have a Cashiers Realtor contact us today.

For more information about Highlands and Cashiers North Carolina, and for access to the Highlands/Cashiers NC MLS, contact Meadows Mountain Realty today, 866-526-3558 or email us today at info@meadowsmtnrealty.com.