Yet Another Firm Relocates to The Triad of NC Welcome to Tengion Inc For Relocating Their Corporate Headquarters

Tengion is a cutting edge biotechnology company that is helping lead the field in developing neo-organs and neo-tissues (regenerative medicine) which is harnessing the body’s own ability to regenerate tissues and organs.   This breakthrough technology has the potential to help adults and children with present organ failure to have new organs created from their own DNA and tissues.

Medical Science

The company presently operates a facility in Winston-Salem, NC in the Triad and is moving their Corporate Headquartes from East Norriton, PA.  Since having much of their research and development moved here in 2004 this move is to help them consolidate and focus on their kidney and urinary (bladder) programs.  Another deciding factor according to John L. Milcot, President and CEO was the presence of a “well-educated, high-quality workforce”.  Since of course one if the major players in the research is Wake Forest University’s Institute for Regenerative Medicine is right here in the Triad.

Tengion is owns over 30 US patents and patents pending.  The company’s focus on discovering, developing, and creating a manufacturing a functional line of “neo-organs and neo-tissues” is simply amazing.  The fact that Tengion has actually implanted in clinical trials their “neo-organs” proves this is not just science fiction but, science FACT!  A very exciting company to watch setting the bar in the future of medicine and life to all of humanity. So yet another great company relocating to the Triad of NC.

WELCOME to the TRIAD TENGION!

Zipping To A Great Adventure In Greensboro NC

My youngest son and I went to visit Kersey Valley Ziplines a couple of days ago.  I was thrilled to find so much to do there.  As one can see on Kersey Valley’s website they have a lot of things to do.  They of course have more then a few ziplines.  As a matter of fact the complex spans 55 Acres and with over a mile and a half of cable stretching around the complex they have one of the largest zipline facilities in the world.   

It is one of the safest attractions that I have ever experienced also.  I was very impressed at the attention to detail on safety.  After getting our harnesses on we were giving a brief but, entertaining video on safety at the “Flight School”.   We then met our Flight Captains.  There are two Flight Captains with each group.  The first captain would go across on the zipline to receive us and one would stay in the rear to send us off one at a time.  I am already planning our return trip.

Kersey Valley is also the proud owners for the last couple decades Spooky Woods a Halloween Spooktacular Adventure.  The Corn Maize is a popular fall attraction also.  Then the newest attraction that is really doing well is Kersey Valley Laser Tag outdoor arena.   Believe me my sons are already planning our next trips.  One for Lazer Tag, one for the Ziplines, and the next for a surprise that I heard is possibly coming in the spring Off Road Segeway tours.

Merry Christmas To All Home Buyers in The Triad of North Carolina

Merry Christmas to all Home Buyers in The Triad of NC and to all a good night.  This is the line that pops in my mind as I think of the present buyers market and all the favorable situations that welcome home buyers at this moment.

For starters the interest rates are still historically low.  I personally had a buyer last week lock in a fixed rate of 3.75% on a 30 year mortgage.  This is their first home!  I was happy for the double digit percentage interest rate that I received decades ago when I bought my first home.

Unfortunately the next part of this blessed situation is that the inventory of homes is still high.  The inventory directly affects the price and strength or weakness of the housing market.  If the inventory (amount of homes that are for sale) is high then following traditional economic theory the demand is low since there is so much to chose from.  However,  The inventory level of homes for sale in the Triad of NC is dropping.  In the last year the inventory level has dropped by a third.  There are news stories of builders switching from building new homes to building apartment buildings.  So as the homes being sold are not replaced and there is not as much new construction coming onto the market the inventory will continue to fall.  When the inventory reaches a level of six months the housing market in the Triad will begin to turn to a seller’s market and prices will start to rise.  Now all indicators are leading towards this eventually coming to pass.  There are no guarantees and frankly I personally threw out my crystal ball years ago.  So while all we can see is the present and now is a very good time to buy a home.

LET US HELP YOU REDEFINE YOUR HOME SEARCH with our LIFESTYLE HOME SEARCH!

That’s right you can now find ANYTHING that matters to YOU in Summerfield , NC! You can now search for where your favorite coffee shops are, and then a 1 mile radius. Then how about a 4 or 5 bedroom & 2 or more bathroom home for less then $500,000 in Summerfield and let’s say I love to go to Home Improvement stores so show me a 1 mile radius around those home improvement. Well VIOLA here you go!

Find what is important to you and the nearest home for you

This search will change everything about how you search.
You can now pull up data on schools, see school zones, you can tell what the student to teacher ratio is at that school. There is SOOOO MUCH data here you do not need to look ANYWHERE ELSE! Setup your own searches and save them email links of a search to someone else and they can see what you see. We will be coming back soon to tell you so much more.

Believe me I cannot pull this kind of information out of our agents system. So if you are looking for a home in the Greater Summerfield NC area you definitely need to search for your home here.

Home Buyers Don’t Miss The Boat!

That is right yet another blog about why you should buy a home now if you are even considering it. You need to understand the actual facts that are creating a “perfect storm” situation for buying a home.

First of all interest rates are at a historically low level. Just for an actual example I had a buyer (a young woman, a nurse) qualify and lock in her interest rate to buy a home at the amazingly low interest rate of 3.75%! I am sorry but my jaw dropped when I saw that email that we got her locked in for her mortgage at 3.75% FIXED RATE. That is right this is not an adjustable rate (which they will give you a low teaser rate for the first few years). The interest rates have not been this low in well over a quarter of a century. So if you think you are going to ride this out and then buy later you will most likely be paying a much higher interest rate. As I was speaking with a Vice President at a local bank last week he told me that I should get rid of any variable rate debt. In other words any debt that the interest rate is not fixed. They are saying that by 2013 the interest rates will be in the double digits which is over 10%. That means even if the market stays depressed you will be paying much more for that home over the course of your time in that home.

Secondly as we have all seen the housing market is still slightly depressed in the pricing sector. HOWEVER, remember that real estate is an EXTREMELY regional business. For instance our market here in Greensboro, NC is much better then say the market in Las Vegas, NV. Here in North Carolina most of our markets did not take such a bad hit as many of the nationally reported markets that the national news media love to report on. In relation to the housing market there is one factor that is rapidly changing the landscape. The inventory of homes for sale is dropping. It is very surprising how many homebuyers are flooding the market. I have spoken with agents & brokers all over from in our own market here in the Triad of North Carolina (Greensboro, High Point, Winston-Salem) and we are all surprised at how busy we are with so many buyers emerging over a short period of time. I have even hired extra agents to handle the influx of buyers.
Well all of these buyers are buying up the existing inventory of homes available for sale. Well for those students of economics (Thank you Dr. Bebensee my Economics Professor) this is effecting the Supply and Demand Curve. To put it simply as the supply goes down the demand will go up! So as the demand rises so will the prices. s In real estate how we determine when our market starts to turn is when our inventory levels are at a 6 month supply. Over a year ago we had over 15 months of inventory on hand. How we arrive at this figures is simply taking the number of homes sold in a given thirty day period and divide it into the number of homes presently for sale. Just to satisfy your curiosity we have less then 9.8 months of inventory. So just remember as that number continues to decrease the demand/price of homes will be affected.

The moral is: This “Perfect Storm” for homebuyers is coming to an end so don’t the boat!

So Do You Really Want To Sell Your Home?

I have been working with some buyers that would love to buy a “mini-farm” with some land and a barn for their horses.  

Now granted that really narrows down the selection when you go from a 3 bedroom & 2 bathroom home to the same with at least 5 acres, pasture land, and a barn.  Now in the same frame of mind as a seller of such a property you really narrow down your market share of buyers since many do not consider a horse a pet that that would like to keep at home.  So with that in mind and if you had someone attempting to make an appointment to see your home would you consistently turn them down.   My buyers have asked to see this home and we have tried on four separate occasions.  We have given as much as 72 hours notice.  Each time they have declined our appointment.  Then on the last attempt the seller notified the appointment desk to tell us there will be no more appointments until otherwise notified.  I have sent emails to the listing agent asking for an explanation or if the home is still for sale or not.  Silence.

If you truly wish to sell your home you must make it as available for buyers to see as possible.

The appointment you turn down could have been the buyer you could have had that day.  I cannot tell you how many times I have taken buyers out and when our showing appointments are declined (after giving at least 24 hour notice) the buyers take it as a sign that the sellers are not motivated to sell so they will not negotiate.  

Set realistic showing instructions and for goodness sake NEGOTIATE

*If you are still living in the home you are selling then set realistic instructions for your agent and whomever is making appointments.  Tell them how much time you need before any showing.

*Yes you will have those inconsiderate agents that will drive by your home and call as they sit out on the curb to see if they can view your home.  Just be prepared for that.

*Just remember that if you ask for two hours notice straighten up then if you keep it clean  you will not need to clean up.

*Don’t forget to negotiate hey it is real estate everything is negotiable.  So if they want to come in one hour and you need more time ask if they can come in an hour and half.  Do not just blindly turn away a potential buyer offer a compromise.

Let these buyers know you are motivated to at least open the doors to working out a mutually beneficial deal.  As long as you keep the doors of communication open then the chances of you achieving your goals of selling your home have a greater chance of coming true.

So You Want to Sell Your Home In Greensboro North Carolina

First of all we need to determine if you really do want to sell and what is your motivation?  Are you looking to Downsize?  Maybe you have been relocated with your job?  Whatever the reason if you really want to sell your home then we will need to focus on the basics first.

• De-clutter your home.  You are wanting to move anyway right?  So go ahead and pack up most of those knick-knacks, maybe even take out some furniture.  You need to clear out some of your possessions.
  

  Clean up your act!

• Neutralize your color scheme.  Lighter colors will make a room look larger.  If you like bright colors that is fine but in order to appeal to the largest group of potential home buyers you need to offer them a blank canvas they can make their own.  Just think if you walked into a room that was deep purple on one wall and blood red on another with black carpet.  Now this is a bit of an over dramatization but you can see how that would be a turn off to you and would taint your image of that home.   Why do you think all those builders always have neutral colors in their homes?

• Clean up the yard place some fresh pine straw or mulch in the beds.  A minimal costs to put a great cover on this book.  Remember as much as we preach not to judge a book by it’s cover it always happens.

• Now lastly I want you to do a little test.  Simple and while many of you may not be able to remove those blinders that keep you from your home with a unbiased set of eyes some of you will.

1) Go out side you front door and shut the door.

2) Close your eyes and imagine you are walking into someone else’s home

3) Write down the first thing you see.

My question to you is what did you see an item in the house, a picture on the wall, or a piece of furniture that you noticed first OR was it a feature of the home; perhaps the crown molding, some beadboard paneling, a chair rail, maybe a beautiful hardwood floor?

You see?!  Did you notice your possessions or did you notice the home?  We are trying to showcase and show off the home not your personal possessions.  That is unless you are planning on giving them away with the home?

So if you are ready or wanting to get ready to sell your home and would like a team of professionals that are dedicated to their clients.  We pride ourselves on going above and beyond normal practices and earning our title of Personal Concierge Realtors®

OPEN HOUSE Sunday in Greensboro NC at 2608 David Caldwell

Come and check out this great home for either the first time homebuyer or someone wishing to downsize.  Lots of space in this three bedroom and two bathroom home.  There is a HUGE family room with fireplace that also has a sunroom attached leading out into the fenced backyard and the deck.  Everyone wants to be in this area since you are near everything from shopping to parks and restaurants.

Open House in Greensboro NC Sunday Nov 13th

2012 US Synchronized Swimming Olympic Team Trials

Come on by and see one of the NEW Greensboro Aquatic Center.  The trials well feature America’s elite swimmers competing for a spot on the Olympic team that will be going to London to represent the United States of America at the upcoming 2012 Summer Olympic Games.

So head out to 1921 W. Lee Street in Greensboro, North Carolina.  The Greensboro Aquatic Center is right beside the Greensboro Coliseum Complex.  So come and catch the thrill of Olympic trials.

2012 US Olympic Trials

Tentative Trials Schedule Olympic (Estimated entry 25 athletes cut to 14)

Schedule will be modified depending on the number of entries Thursday Nov 10th

12:00-4:00   5:00-7:00

Optional Open Pool Practice Fitness Evaluations Leg Marking Welcome Reception

Olympic/Jr   Pool OlympicTBD      Olympic/Jr TBD

Friday Nov 11th  7:00-9:00

1:15-2:30 2:00-2:30

2:30-3:15 3:30-5:30

5:30-6:15 6:30-7:30

7:30-8:00 8:00-9:00

9:00-10:30

Saturday Nov 12th 10:00-10:30

10:30-11:15 11:30-1:00

1:00-1:45 1:00-1:15

Judges & Coaches Meeting Lap Swimming (Olympic and Junior Participants)

Warm Up Skills (1-4) (Olympic and Junior Participants) Skill competition (1-4)

Warm Up (skills 5 – Skills competition (5, 7 & Dinner Eggbeater Skill 6 Skill no 9 Freestyle Swim

Olympic Lap swim

Element Warm up & Judges meeting Element Competition

Training Pool

Lunch (Olympic participants and officials) & Judges meeting Announce Olympic Trials

Phase 2

Participants (30 advance)

4:00-4:30 4:30-5:15

5:15-7:15

6:40-7:15

7:15-8:00 8:00-10:00

Sun Nov 13th 

12:00-1:00 12:30-1:00

1:00-1:45 2:00-2:45

3:00-5:00 7:30-10:00

Mon Nov 14th

7:00-7:10

7:10-7:30 7:00-8:00

7:30-8:00 8:15-9:00

9:00-10:00 9:15-9:45

10:00-10:45 11:00-12:00

12:00

1:00-4:00

Olympic Lap Swimming Olympic Indiv Swim 1A (Tech Team) Warm Up with music Judges meeting

Olympic Indiv Swim 1A (Tech Team) (30 athletes, 4min, routine plus scoring)

Dinner

Olympic Warm up Swim 1B (Tech Team) with music Olympic Indiv Swim 1B (Tech Team)

Announce Olympic Trials Phase 3 participants (top 14 advance)

Lunch & Judges Meeting Olympic Lap Swim Phase 3 Olympic Swim 2A (Free Team) warm up with music Phase 3 Olympic Group Swim 2A (Free Team)

Additional Group swims if needed Olympic Remark legs Olympic Duet Participants Final Selection Committee (Dinner) Judges feedback 1st

hotel

Announcement of the Olympic Team and athletes 10-12 (World Trophy Cup Olympic Duet Lap Swim – Phase 4 Judges meeting

Duet Swim 1 (Tech Duet) warm up with music Duet Swim 1 (Tech Duet)

Judges meeting Duet Warm up Swim 2 (group) Duet Swim 2 (group)

Additional Group swims if needed

Final Selection Committee TBD Judges feedback first

Olympic Team (1-12) practice (Junior Solo/Duet)

Tues Nov 15th 

9:00-1:00 3:00-5:00

7:00 PM

Practice

Greensboro Special Event Announcement of the Olympic Team and Duet

Short Sale Consulting Should Always be Honest

Honesty is the best policy and for homeowners in a distressed situation they deserve to have straight answers to some very difficult questions.  The first part of any Short Sale listing appointment that we go on begins with a consultation to answer any and all questions.  Many of the times these homeowners have suffered already so much.  They have also in many cases been mislead by others that are in positions of leadership.   I have met with homeowners that have had attorneys tell them they have no hope and their only choice is bankruptcy.  These attorneys are not even familiar with the North Carolina statutes that protect homeowners.   In other cases the homeowners have attempted to deal with the banks and followed their every direction only to be denied a loan modification at the end of a very tiring and strenuous process.

These homeowners are not needing someone to sugar coat any of the news.  They need straight answers to hard questions.  Many times they just want to be through with the whole process.   They are tired and downtrodden.

I met with a homeowner yesterday that unfortunately has waited to long.  She already has a hearing date of next week and a foreclosure sale date of the second week in December.  Her fiance is not wanting to deal with any of this.  She is not prepared for showings, she is in poor health and has a number of issues going on right now.  She has attempted a loan modification and after following the banks directions and depleting her savings in order to pay the minimum that they set, they denied the modification.  She then spoke with an attorney.  His advice was to file bankruptcy.   So after listening to her I gave her the file that I had already prepared.  In the file was all the paperwork she would need to file an IRS Form 982 to apply for a waiver to the income statement (1099) from the bank on the deficiency of the sale of a primary residence.   I also had already given her the two North Carolina statutes explaining that NC is a Non-Recourse state and that the bank could not file for a deficiency judgement.  As shown below:

§ 45‐21.38. Deficiency judgments abolished where mortgage represents part of purchase price. In all sales of real property by mortgagees and/or trustees under powers of sale contained in any mortgage or deed of trust executed after February 6, 1933, or where judgment or decree is given for the foreclosure of any mortgage executed after February 6, 1933, to secure to the seller the payment of the balance of the purchase price of real property, the mortgagee or trustee or holder of the notes secured by such mortgage or deed of trust shall not be entitled to a deficiency judgment on account of such mortgage, deed of trust or obligation secured by the same: Provided, said evidence of indebtedness shows upon the face that it is for balance of purchase money for real estate: Provided, further, that when said note or notes are prepared under the direction and supervision of the seller or sellers, he, it, or they shall cause a provision to be inserted in said note disclosing that it is for purchase money of real estate; in default of which the seller or sellers shall be liable to purchaser for any loss which he might sustain by reason of the failure to insert said provisions as

herein set out. (1933, c. 36; 1949, c. 720, s. 3; c. 856; 1961, c. 604; 1967, c. 562, s. 2.)

And

§ 45‐21.38A. Deficiency judgments abolished where mortgage secured by primary residence. (a) As used in this section, the term “nontraditional mortgage loan” means a loan in which all of the

following apply: (1)

(2) (3) (4)

(5)

The borrower is a natural person. The debt is incurred by the borrower primarily for personal, family, or household

purposes. The principal amount of the loan does not exceed the conforming loan size for a single

family dwelling as established from time to time by Fannie Mae. The loan is secured by: (i) a security interest in a manufactured home, as defined in G.S.

143‐145, in the State that is or will be occupied by the borrower as the borrower’s principal dwelling; (ii) a mortgage or deed of trust on real property in the State upon which there is located an existing structure designed principally for occupancy of from one to four families that is or will be occupied by the borrower as the borrower’s principal dwelling; or (iii) a mortgage or deed of trust on real property in the State upon which there is to be constructed using the loan proceeds a structure or structures designed principally for occupancy of from one to four families that, when completed, will be occupied by the borrower as the borrower’s principal dwelling.

The terms of the loan: (i) permit the borrower as a matter of right to defer payment of principal or interest; and (ii) allow or provide for the negative amortization of the loan balance.

(b) the following loans:

(c)

nontraditional mortgage loan. This section does not apply to any of the following:

Except as provided in subdivision (6) of subsection (c) of this section, this section applies only to

(1) (2)

(3) (4)

A loan originated on or after January 1, 2005, that was at the time the loan was originated a rate spread home loan as defined in G.S. 24‐1.1F.

A loan secured by the borrower’s principal dwelling, which loan was modified after January 1, 2005, and became at the time of such modification and as a consequence of such modification a rate spread home loan.

A loan that was a nontraditional mortgage loan at the time the loan was originated. A loan secured by the borrower’s principal dwelling, which loan was modified and became at the time of such modification and as a consequence of such modification a

(1) (2) (3)

(4) (5) (6)

A home equity line of credit as defined in G.S. 45‐81(a). A construction loan as defined in G.S. 24‐10(c).

A reverse mortgage as defined in G.S. 53‐257 that complies with the provisions of Article 21 of Chapter 53 of the General Statutes.

A bridge loan with a term of 12 months or less, such as a loan to purchase a new dwelling where the borrower plans to sell his or her current dwelling within 12 months.

A loan made by a natural person who makes no more than one loan in a 12‐month period and is not in the business of lending.

A loan secured by a subordinate lien on the borrower’s principal dwelling, unless the loan was made contemporaneously with a rate spread home loan or a nontraditional mortgage loan that is subject to the provisions of this section.

In addition to any statutory or common law prohibition against deficiency judgments, the

(d) following shall apply to the foreclosure of mortgages and deeds of trust that secure loans subject to this section:

http://www.ncleg.net/EnactedLegislation/Statutes/HTML/BySection/Chapter_45/GS_45-21.38A.html Page 1 of 2GS_45-21.38A 10/24/11 8:39 PM

(1)

(2)

For mortgages and deeds of trust recorded before January 1, 2010, the holder of the obligation secured by the foreclosed mortgage or deed of trust shall not be entitled to any deficiency judgment against the borrower for any balance owing on such obligation if: (i) the real property encumbered by the lien of the mortgage or deed of trust being foreclosed was sold by a mortgagee or trustee under a power of sale contained in the mortgage or deed of trust; and (ii) the real property sold was, at the time the foreclosure proceeding was commenced, occupied by the borrower as the borrower’s principal dwelling.

For mortgages and deeds of trust recorded on or after January 1, 2010, the holder of the obligation secured by the foreclosed mortgage or deed of trust shall not be entitled to any deficiency judgment against the borrower for any balance owing on such obligation if: (i) the real property encumbered by the lien of the mortgage or deed of trust being foreclosed was sold as a consequence of a judicial proceeding or by a mortgagee or trustee under a power of sale contained in the mortgage or deed of trust; and (ii) the real property sold was, at the time the judicial or foreclosure proceeding was commenced, occupied by the borrower as the borrower’s principal dwelling.

(e) incurred by the borrower in the defense of an action for deficiency if: (i) the borrower prevails in an action brought by the holder of the obligation secured by the foreclosed mortgage or deed of trust to recover a deficiency judgment following the foreclosure of a loan to which this section applies; and (ii) the court rules that the holder of the obligation secured by the foreclosed mortgage or deed of trust is not entitled to a deficiency judgment under the provisions of this section. The amount of attorneys’ fees to be awarded shall be determined without regard to the provisions of the loan documents, the provisions of G.S. 6‐21.2, or any statutory presumption as to the amount of such attorneys’ fees. (2009‐441, s. 1.)

The part most upsetting to the couple was that the attorney never mentioned these two statutes and made it sound like she had to declare bankruptcy to protect herself.  Now I am not an attorney, banker, or judge but, I do know short sales and real estate.  I make it my business to keep informed on current legislation and what might affect my clients.

To end the meeting she actually looked like she was relieved to have finally had some straight answers and facts given to her and that she said if felt as if a heavy weight was lifted off her shoulders from all the stress and worry she had been carrying.   Now that is not to say it is over but now armed with the facts she can face her problems and make an educated decision and look forward to working through this and then rebuilding her life.