Protect Yourself with Knowledge - Avoid Mortgage Loan Scams

http://activerain.com/blogsview/1043207/HEY-MOM-WHERES-FANNIE-MAE-LOAN-MODIFICATION-THE-NEXT-CONSUMER-SCAM-SCANDAL

I have posted this article written by another Realtor. As a group, we are exposed to the pain and anguish associated with these difficult economic times.

To add insult to injury through these scams is completely unacceptable. Please pass this article on to others that may benefit from this warning.

NC Foreclosures Down 50% in February (Maggie Valley, NC)

It is important to keep our eyes focused on the light at the end of the tunnel. Interpreting the news that we receive daily requires some filters. And I am hearing indicators that are beneficial to North Carolina. For instance...

While the rest of the country is reeling from an unexpected rise in foreclosure filings, the number of foreclosures in North Carolina fell 49.7 percent in February, according to data from RealtyTrac Inc..

The state had 2,039 foreclosures in February, with one in every 2,023 homeowners receiving a default notice, auction-sale notice or bank-repossession filing.

Foreclosure filings in North Carolina fell 14.5 percent in February from January.

Across the country, foreclosure filings rose nearly 30 percent last month from February 2008. There were 290,631 foreclosure filings, which affected one in every 440 U.S. households. Nevada, Arizona and California posted the top foreclosure rates in the country last year.

Source: North Carolina Realtor Report:from Charlotte Observer (link Below for full article).
http://www.bizjournals.com/charlotte/stories/2009/03/09/daily36.html

IOUSA Movie - Very important for Our Times... Please Watch

It will take a few minutes of time but provides a concise view of how our economy got where it is and what we need to do about it. These are some very respectable leaders.

http://www.youtube.com/watch?v=O_TjBNjc9Bo

Thank you for your time.

FDIC Foreclosures, Maggie Valley NC real estate

FDIC Foreclosures create a lot of activity in the Maggie Valley market. In fact these are the first ever FDIC foreclosures in Haywood County in recent history.

To be an FDIC foreclosure a property must be foreclosed upon by the Bank making the original loan. Then the Bank must be closed or placed in receivership. The FDIC then protects the assets as receiver and markets them to the public.

It is a time consuming and complicated process. The main advantage is the reduced pricing offered by the FDIC. This process does create interest. It seems many buyers are interested in purchasing; if they can get a ‘good buy’.

These 6 log cabins and the tract of land are top quality and in an attractive area. The prices are below market value.

Maggie Valley NC real estate: Bank Owned Properties

There is considerable interest in Bank Owned properties at this time. Six new log cabins have just entered the market, plus one track of land. These are located in Wolf Creek Resort, Maggie Valley, NC. the Bank owned prices start at $273,000 and top out at $353,000. This accounts for up to a $192,000 reduction in price. This is a summary of the price changes.

• 191 Driftwood Loop (Casa Lizzie)New MLS# 417636 - $273,000 -Old MLS #393762 $296,750



• 193 Driftwood Loop (Lazy Willow)New MLS# 417774 - $347,000-Old MLS #393858 $539,000



• 209 Driftwood Loop (Andre’s)New MLS# 417806 - $309,900-Old MLS #393860 $429,000



• 266 Driftwood Loop (Allen’s T.P) New MLS# 417828 - $273,000-Old MLS #393904 $429,000



• 282 Driftwood (Linen House) New MLS# 417878 -$353,900 - Old MLS #393905 $539,000



• 7 Acorn Way (Casa Abby) New MLS# 417903 - $275,000 - Old MLS #393903 $299,750
  3.29 acres Acorn Way (Vacant Land) *New MLS#417919 - $170,000 *(All remaining vacant land in Wolf Creek Resort is now included in this listing)

Contact: Lynda Bennett for more information.
828421-7279