Ask The Expert- Lake Hartwell with Parker

Brand Mortgage: Great Contact for loans in Ga & SC

2010-03-23T09:52:00.000-07:00

Hello,

I just wanted to reach out to let you know about some excited news. First of all, for those that do not know, I went to work for Brand Bank in January. I am working in the mortgage division. The best news is that we have very low rates, fast turn times in underwriting and more products that I had access to before. We have got the best rates of anyone for the 203k renovation loan. We will also soon have access to FHLB loans where the government matches our clients downpayment $5 to $1.
In other words, if you make a $1,000 down payment the government will give you and additional $5,000 for free towards your down payment. This product is also difficult to find in the market. We also have special incentives for our builder inventory of homes. My new contact information is listed below. Please feel free to call me anytime. I look forward to hearing from you.

Jeff Ingram
Direct 678-226-7867
Cell 678-643-2442
Fax 678-518-6318
www.JeffsMortgages.com

mortgage rates 2/28/2010. Now is the time to Buy!

2010-03-02T07:35:00.000-08:00

Rate Sheet as of 02-28-10 at 6:06 p.m.
Bank of America Home Loans
Raymond Duncan 1.800.987.9605 cell

Rates below are at current points, and other rate and point options are available. Rates may vary depending on down payment amounts, credit scores, and purchase terms.

FHA Mortgages up to 96.5% Financing (No minimum credit score required)

15 year fixed 4.250% 0.000 point
30 year fixed 4.875% 0.500 points
5/1 ARM 3.875% 0.000 points 150,000.00 K note

VA Mortgages up to 100% Financing (No minimum credit score required)

15 year fixed 4.250% 0.250 point
30 year fixed 5.000% 0.000 points
3/1 ARM 3.875% 0.000 points 150, 000.00 K note

Conventional Mortgages up to 95% Financing

15 year fixed 4.250% 0.125 points
30 year fixed 4.875% 0.000 points
5/1 Arm 3.875% 0.000 points 417, 000.00 K note

*****Rates quoted above are based on a $150,000.00 purchase price and a 417,000.00 note with a credit score of 720****
*****Private Mortgage insurance may apply******
*****Escrowing of taxes and insurance is required if LTV is over 80%******

Jumbo Mortgages up to 80% financing

15 year fixed 5.125% 0.500 points
30 year fixed 5.625% 0.125 points

*****Rates quoted above are based on $695,000.00 purchase price and credit score of 720*****
*****Rates quoted with escrows of taxes and insurance*****

Jumbo Loans up to $5,000,000.00 (may require up to 40% down)

15 year fixed 5.375% 0.125 points
30 year fixed 6.250% 0.125 points

Used purchase price of 4,275,000.00 with loan amount of $2,992,500.00 and 720 credit score…

These products, rates, and terms are subject to primary home purchases; and may change without notice. Bank of America Home Loans is an equal housing lender. Sent by Raymond Duncan @ 1.800.987.9605 cell, closing home loans all over the U.S. Purchase, Refinance, Equity Line, and Reverse Mortgage Products available... Still lending on second homes and investment homes too…

Home Buyer's Tax Credit EXTENDED!!!

2009-11-09T03:18:00.000-08:00

With the nation's unemployment rate busting through the 10% mark in October, President Obama on Friday signed legislation extending the $8,000 first-time homebuyer tax credit and giving additional tax breaks to certain homeowners trading up. Passed overwhelmingly by Congress, the bill would provide a $6,500 tax credit to homeowners who are buying a new primary residence beginning Dec. 1. The language mandates that to get the credit the homeowner must have owned their home for five consecutive years of the previous eight. But there are caps on the tax credits. They only apply to individual buyers who make no more than $125,000 and $250,000 for couples. There is also an anti-flipping provision: Any homeowner who collects the credit and sells within three years must return the money. The FTHB was extended to cover consumers signing a contract by April 30 and closing by June 30. Meanwhile, the Department of Labor reported Friday that the nation's unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected. The increase in joblessness will lead to an upswing in residential mortgage delinquencies. In October the unemployment rate spiked to 10.2%, compared to 9.8% in September. Economists had forecast an increase to 9.9%.

Amazing water levels on Lake Hartwell!

2009-09-28T12:43:00.000-07:00

Did you know that as of today, Lake Hartwell's water level is only 2.97 ft below full pool!!!!!!!!!! Wow, what a change from last year! We've had huge amounts of rain and the lake looks absolutely beautiful!

Water's UP on Lake Hartwell!!!!

2009-09-23T06:07:00.000-07:00

After torrential rains Lake Hartwell is only 4 feet below the full pool level of 660'. This is sooooo.... much better than last year! Most docks are floating and boating's a pleasure. Check my website for bridge clearances though....http://www.Hartwell-Keowee.com If you have a T-Top or large houseboat or cruiser you may not be able to get under some of the lower bridges, but hey.....this is a HUGE lake and there are plenty of places to go! Happy Boating!

Have Lake Hartwell all to yourself!

2009-08-28T08:23:00.000-07:00

Now that school has started Lake Hartwell seems empty! Yay! For those of us who live on the lake year round we love to have the sandy beaches & quiet coves all to ourselves. Don't get me wrong, I want as many people to enjoy our lake as possible but I love the quiet and serenity that fall & winter bring to the lake. Now is a great time to take a tour of Lake Hartwell. Contact Captain Gary W. Smith to set your tour up! Visit his website: http://www.LakeHartwellBoatTours.com and Visit his Blog: http://LakeHartwellBoatTours.blogspot.com for an entertaining read about boating tails, experiences & instruction.

FHA Appraisal Requriements

2009-08-25T07:30:00.001-07:00

Below is a list of the FHA appraisal requirements. I hope you find this helpful for your home buyers obtaining an FHA mortgage. This does not include everything, but does include what seems to be the most common problems. I hope that this may help to reduce the number of re-inspections thereby reducing overall fees to the customer.

1. Roof: Must have a minimum of 2 years remaining life. If the roof looks okay, the appraiser will assume it's serviceable and okay. However, if there are torn shingles or any obvious problems, i.e. apparent leaks, etc., the appraiser will call for an inspection.

2. Electrical: Exposed/naked wires are an obvious hazard and must be properly covered. Covered means switch plate covers, outlet covers, no naked wires hanging out of walls, electrical wire caps for splices must be contained in a junction box, etc.

3. No obvious signs of rotten wood, no obvious signs of wood-boring insects or other infestation, all exterior wood must have an all-weather covering (paint, siding, etc.).

4. Crawlspace: No standing water or excessive moisture, no debris since this invites infestation. Recommended minimum height of crawlspace is 18 inches.

5. All utilities must be on.

6. Plumbing: All fixtures should be present and functional. No leaks should be observed. Must have Hot Water.

7. HVAC must be functional.

8. Cooking source is required, i.e. Stove.

9. Windows must open. (On older houses, windows often get painted shut)

10. Carpets/Flooring/Walls should be in average condition overall with no major repairs needed.

Mortgage Rates! Great!

2009-08-19T09:14:00.000-07:00

Rate Sheet
Raymond Duncan @ Bank of America Home Loans4122 Clemson Blvd. Anderson SC 29621
Rates below are closest to 1 point, and other point options are available. Rates can vary depending on down payment amounts and credit scores.
FHA Mortgages up to 96.5% Financing (No minimum credit score required)
15 year fixed 4.375% 0.5 point
30 year fixed 4.8755% 0.75 points
3/1 ARM 3.750% 0.875 points
VA Mortgages up to 100% Financing ( No minimum credit score required)
15 year fixed 4.375% 0.75 points
30 year fixed 4.875% 1.0 point
Conventional Mortgages up to 95% Financing
15 year fixed 4.25% 0.625 points
30 year fixed 4.875% 0.75 point
3/1 3.875% 0.75 point
*****Rates quoted above are based on a $150,000.00 purchase price and credit score of 720*********Private Mortgage insurance may apply***********Escrowing of taxes and insurance is required if LTV is over 80%******
Jumbo Mortgages up to 80% financing
15 year fixed 5.25% 0.625 points
30 year fixed 5.375% 1.0 points
*****Rates quoted above are based on $695,000.00 purchase price and credit score of 720**********Rates quoted with escrows of taxes and insurance*****
Jumbo Loans up to $3,000,000.00
15 year fixed 5.375% 0.375 points
30 year fixed 5.625% 0.875 point
Used purchase price of 4,275,000.00 with loan amount of $2,992,500.00 and 720 credit score…
Products, rates, and terms are subject to change without notice. Bank of America Home Loans is an equal housing lender.

Ahhhhhh......Lake Hartwell

2009-07-28T06:10:00.000-07:00

Imagine relaxing on a boat anchored in a quiet cove.....The boat is rocking gently with the wakes from the boats passing by.....The sun is getting ready to set......You're anticipating the succulent steak cooking on the grill as you dive in the lake for a quick swim. These are reasons that I think I'm the luckiest person alive! This scenario can take place several times a week if you live on Lake Hartwell and I'm lucky enough to say I do!

Happy Weekend!

2009-07-18T07:06:00.000-07:00

Hello All! The weekend is here and it's time to RELAX! I will be going for a boat ride on Lake Hartwell & definitely for a swim! The lake level is a perfect 3.5 feet below full pool....Perfect for bridge clearance for our boats. Make sure you keep up with the Captain's Blog: http://LakeHartwellBoatTours.blogspot.com & also visit The Captain's Website: http://LakeHartwellBoatTours.com NOW is the perfect time to BUY Lakefront property on Lake Hartwell, Keowee and/or Secession. There are a lot of Lake Homes to choose from in all prices ranges & prices have come down. Visit: http://Hartwell-Keowee.com for all of your Lakefront real estate needs as well as lots of area information!

Lake Hartwell Boat Tours

2009-07-16T06:57:00.000-07:00

Hello Everyone! I just wanted to make sure everyone knew that the domain name was changed yesterday for the Lake Hartwell Boat Tour Business. It is now: http://LakeHartwellBoatTours.com
The Captain's Blog associated with this site is: http://LakeHartwellBoatTours.blogspot.com
Captain Gary had a great tour yesterday with a family from Clemson. "Bird Island" on the Seneca River was a huge hit! Have a great day & remember to visit Captain Gary on the web or give him a call Toll Free: 866.303.8181 to set up your Lake Hartwell Boat Tour!

New Blog: Captain's Blog

2009-07-14T13:04:00.000-07:00

Hi Everyone! Check out this great new BLOG! http://lakehartwellboattours.blogspot.com/

Current Rates as of 7/8/2009. Yes....Banks are still lending money!

2009-07-08T08:19:00.000-07:00

105.00%: Refinance with NO PMI. Rate/Term on the first mortgage only-Must be Fannie Mae or Freddie Mac currently invested loan-Clients who are not currently paying PMI-No Seasoning- Conforming Loans, and Super Conforming MSAs-2nd mortgage to be subordinated-0x30 late payment in last 12 months. No minimum credit score if payment isn’t increasing over 20%. Debt to income is unlimited if payment isn’t increasing over 20%. This program is designed for almost all current house payments to be decreased. Restrictions apply, so please call 1.800.987.9605 for assistance.

100.00%: VA Loan, no PMI. Max loan amount $417,000.00.
Purchase and Refinance VA to VA loans. Seller may pay up to 4% of
closing costs.

97.75%: FHA Refinance: Rate/Term

96.50%: FHA Purchase Loans, see notes below. Max loan amts.
per county. Seller may pay up to 6% closing costs.

95%: 30yr, 20, and 15 year fixed rate notes.

90%: VA cash out refinance.

85%: Equity Lines on a primary residence…FHA Cash out.

80%: Investment loans.

We now offer financing for up to 4 homes with loan amounts not to exceed $3,000,000.00 per home. These are only a few tips that may help in this tough real estate market that we are seeing.
Raymond Duncan: Cell 1.800.987.9605 or raymond.duncan@bankofamerica.com

Product and programs are subject to change without notice… Equal housing lender…

New Service: BOAT TOURS!

2009-06-30T06:06:00.000-07:00

I am very pleased to announce that my husband, USCG Master Captain Gary Smith, has started his new business offering instructional and/ or scenic BOAT TOURS on Lake Hartwell. The instructional Tour will include things like: Hands on boating, learning how to read the lake map & understanding buoys, etc, Docking and so on. The scenic tour will include tours of: Tugaloo River (T-60 Grill, Harbor Light Marina, broken Bridges, Jolin's Fish House (if open) & other attractions; Seneca River (Isaqueena Dam, Clemson University, Keowee River Flats, Bird Island Blue Heron Rookery & so on). You may want to sign up for all of the different tours so you can experience ALL Lake Hartwell has to offer!

Mortgage Rates for Today!

2009-05-07T08:54:00.000-07:00

Jeff Ingram

Mid-Atlantic Mortgage
Phone: (678) 680-4222
Fax: (770) 921-9959
jeff@JeffsMortgages.com

Choosing a Fixed Rate Loan

Fixed rate loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed. If a borrower is planning on being in the same home for a long period of time, a 30-Year Fixed may be more attractive because it offers stability. The monthly payment will remain consistent over the life of the loan. If interest rates are at historic lows at the time the borrower is seeking to obtain financing, this is a good program to consider.

A 15-Year Fixed loan program offers the same stability, but the accelerated amortization schedule makes the monthly payment substantially higher. While the interest rate may be lower on this type of loan, the borrower must be willing to commit to a higher monthly payment. If the borrower wishes to retire in 15 years and be debt-free at that time, this loan program may be more suitable to the borrower's long-term needs.

It is also possible to make pre-payments on a 30-Year loan and reduce the life of the loan, as well as the overall interest payment, without committing to the higher monthly payment of a 15-Year program. As long as there is no pre-payment penalty associated with the 30-Year mortgage, pre-payment offers the borrower the latitude to make additional payments when it is affordable. If cash flow becomes difficult, this arrangement will not put the borrower in a compromising position.

Mortgage Interest Rates*

Rates as of Wednesday, 6th May, 2009:

Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000

FHA
4.625%
5.10%
$5.14
%
0.000%
$0.00

USDA
5.625%
5.875%
$5.76
%
0.000%
$0.00

VA
5.5%
5.79%
$5.68
%
0.000%
$0.00

Conventional
4.75%
5.18%
$5.22
%
%
$0.00

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Beautiful 80 degree Weather's Here on Lake Hartwell!

2009-04-24T16:23:00.000-07:00

LOOK!!!!!! I have TWO Terrific New Listings on Lake Hartwell: http://www.postlets.com/res/2080661 & http://www.postlets.com/res/2106198
Call Toll Free Today (877.314.1058) for your showing of this terrific Lake Hartwell Home or to see any available Lake Property. REMEMBER.....EXPERIENCE COUNTS! DON'T SETTLE FOR 2ND BEST! We'll show you property by boat when you narrow your search to 2-3 properties!
HAVE A WONDERFUL WEEKEND!!!

Hartwell Lake Level Continues to RISE!!!!!

2009-04-20T12:08:00.000-07:00

As of Today April 20,2009 Lake Hartwell's water level has risen to only 5.32 feet below full pool. That just amazes me because the level had dropped to historic lows of 23 feet below full pool in December 2008. I've lived on lake Hartwell since 1996 and have always had the faith that the lake levels would always come back....and they have.
People will just have to find a new topic of conversation now that Lake Hartwell's almost back to normal I guess......I'm just ecstatic that Spring's here, dogwoods & azaleas are in bloom and swimming weather is almost back again!

April Showers for sure!!!!!

2009-04-14T12:59:00.000-07:00

Hey Everyone! I am so excited to tell you that Lake Hartwell's water level today is: 653.96! Yay!!! We are now only 6.04 feet below full pool! The lake looks absolutely beautiful and right now is a great time to get out on the lake and see all of the dogwoods, azaleas & Mountain Laurel blooming around Lake Hartwell's banks. Also, a word to the not so wise......anytime anyone hears something about Lake Hartwell that they may think is NOT true, please tell the "Story Teller" to call the US Army Corps of Engineers to verify this info. Many people LOVE to spread Bad Rumors around about Lake Hartwell and it really gets me going. Enjoy this early part of the Lake Hartwell Boating Season...I plan to :-)

Jumbo Loan...Now's the time to Refinance

2009-03-16T13:32:00.000-07:00

This past week, Bank of America Chairman and CEO Ken Lewis and Mortgage, Home Equity and Insurance Services Executive Barbara Desoer participated in several media interviews presenting messages about the strength of our mortgage franchise and our determination to profitably and responsibly grow our business. I am pleased to share an example of these communications efforts.

On March 13, Bloomberg News ran an article headlined, “Bank of America’s Desoer Says ‘Thank Goodness’ for Countrywide.” Barbara was quoted as follows:

“Volume is good, application quality is holding up and the acquisition of Countrywide is really paying off for us with the additional capacity. Thank goodness we have it.”

Other highlights in the article included:
Extremely competitive jumbo mortgage rates and our desire to increase jumbo loan volume
Our commitment to improve the customer experience
Opportunities for loan production with Merrill Lynch affluent customers

The full Bloomberg News article is available at the following link: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aDe2IcgvIIQI

Ø Please take time to review this article. It offers a powerful message about Bank of America’s strength, stability and commitment to the mortgage marketplace.

Bank of America: Proprietary

Rates are lowest ever....even Jumbo Loans!

2009-02-10T12:14:00.000-08:00

Now is the BIG window of opportunity to buy a watefront property! Don't miss out....the deals are incredible! Start Making Memories today!

February....already??!!!

2009-02-01T09:00:00.000-08:00

February has arrived and already things are looking more positive. Last time I checked Lake Hartwell's water level was about 14' below full pool as opposed to the 23' below we were at the Worst. This will help the Real Estate Biz and the people who live around Lake Hartwell have a happier attitude. Now....I can actually go on a boat ride and not worry myself to death about running into a rogue tree, old bridge or rock mound. I love Lake Hartwell in the wintertime....Those of us who live year round on the lake have it to ourselves during the fall, winter & most of the spring. How Lucky are we??!! The air is crisp and the haze is gone and you can see for miles and miles. For those of you that do not own a waterfront property on Lake Hartwell......NOW is the time to BUY! Interest Rates are LOW, LOW, LOW; Prices have dropped and it's a BUYER's MARKET! Call me Toll Free anytime: 877-314-1058. Thanks ~Parker
PARKER QUIGLEY, Real Estate Broker, ABR, E-Pro
Re/Max Foothills Realty
Lake Hartwell & Keowee Specialist
Toll Free: 877-314-1058
Fax: 864-287-0858
www.Hartwell-Keowee.com
www.LakeHartwellKeoweeRealEstate.com
www.ParkerQuigley.com

Bank of America Loan Programs as of Today

2009-01-09T12:02:00.000-08:00

Bank of America Loan Programs 1.09.09
100%:
1. Doctor Loan, no PMI. Max loan amount is $1,000,000.00.
2. VA Loan, no PMI. Max loan amount $417,000.00. Seller may
pay up to 4% of closing costs, and pay off judgments and liens.
96.5%:
FHA Loan, see notes below. Max loan amts.
per county. Seller may pay up to 6% closing costs. Judgments and liens must be paid by client or 3rd party.
95%:
30yr, and 15 year fixed rate notes. Paying all closing costs for a purchase…
95% cash out refinance.

90%:
1. The No Fee Loan, with no PMI. Very limited funds at closing.
Second Home

80%:
Investment loans. Do not get mortgage protection, BPP.
Equity Lines.

75% 1. 1x Time Close Construction Loan:
A closing fee credit of up to $1,000 is offered if the customer’s newly constructed property meets Energy Star® energy efficiency requirements. The customer must submit verification, prior to document draw, that the property has been certified to meet Energy Star® energy efficiency requirements in order to receive the closing fee credit. Refer to the Energy Credit Mortgage (Program-Specific Operating Requirements) section in this Guide for important processing information. The lender credit of up to $1,000 is limited to covering transaction closing fees. The credit cannot result in cash-back to the borrower. Land used as down payment.

In addition, most all of our mortgages for primary and second homes now receive a FREE BPP policy for the first year that covers the following: 1. Disability 2. Involuntary Unemployment 3. Hospitalization 4. Loss of Life.

Please be aware of the following based on a FHA loan: With no minimum credit score, you may receive 96.5% financing. The 3% down payment may come from a blood related family member. The seller may pay up to 6% of the closing costs. In addition, a blood related family member may pay the buyers debt down to have them qualified for the loan, based on a high debt ratio outcome.

We now offer financing for up to 4 home with loan amounts not to exceed 3,000,000.00 per home. These are only a few tips that may help in this tough real estate market that we are entering. Please be aware that products and programs are subject to change without notice. Bank of America is an equal housing lender.
Raymond Duncan: Cell 1.800.455.0703 or raymond.duncan@bankofamerica.com

HAPPY NEW YEAR! GREAT NEWS!!!!!

2009-01-09T06:50:00.000-08:00

THE LAKE LEVEL ON HARTWELL HAS COME UP A WHOPPING 6 FEET FROM OUR LOWEST LEVEL! Let it Rain, let it rain, let it rain some more!

Happy Holidays, Season's Greetings, Merry Christmas & Happy Hanukah

2008-12-26T14:45:00.000-08:00

Happy Holidays to everyone! I hope you all had lots of wonderful time with your friends and family! I have great news....The lake level came up 2 whole feet since 12/15/08!!!I'm ever so thankful for the rain!

Rates hit historic lows!

2008-12-19T09:01:00.000-08:00

Check out the rate below

NationsMortgage

Are you having problems coming up with the
large downpayment their bank is requiring? For credit
worthy borrowers, this should not be a problem. Check
out the programs below.

Here are some of our niches that will help alomost everyone!:
1. 102% financing with our Rural Housing Program
*call for details
2. 97% financing with FHA and Conventional loans
3. 97% financing for customers with no credit score
4. 80% financing on Investment Properties and 2nd homes
5. Stated Income loans are still available
6. Jumbo loans up to $5,000,000.
7. 95% financing on manufactured homes
8. We also do all types of Commercial Properties
9. 80% financing down to a 525 credit score.
75% financing down to a 500 credit score.
* seller held second mortgages available for each.
10. Bank statement programs available. This is great for your customers
who don’t show much income on tax returns but are depositing plenty of money
in the bank each month.

* Keep in mind that for the time being, guidelines can change quickly. I’ll
keep everyone updated if any more changes occur.

My rates today are:
30 Year FIXED rate @ 4.50%

Thank you for the opportunity to earn your business.

Jon Herring
NationsMortgage
302 Williamston Road
Anderson, S.C. 29621
864-328-1770 (office)
864-328-1778 (direct)
877-328-1770 (toll free)
864-940-0259 (cell)

There is financing out there!

2008-12-03T08:19:00.000-08:00

NationsMortgage

For credit worthy borrowers, financing should not be a problem. Check
out the programs below.

Here are some of our niches that will help you sell every home you list:
1. 102% financing with our Rural Housing Program
*call for details
5.5% for 30 year fixed at 102% financing
2. 97% financing with FHA and Conventional loans
3. 97% financing for customers with no credit score
4. 80% financing on Investment Properties and 2nd homes
5. Stated Income loans are still available
6. Jumbo loans up to $5,000,000.
7. 95% financing on manufactured homes
8. We also do all types of Commercial Properties
9. 80% financing down to a 525 credit score.
75% financing down to a 500 credit score.
* seller held second mortgages available for each.
10. Bank statement programs available. This is great for your customers
who don’t show much income on tax returns but are depositing plenty of money
in the bank each month.

* Keep in mind that for the time being, guidelines can change quickly. I’ll
keep everyone updated if any more changes occur.

My rates today are:
30 Year FIXED rate @ 5.125%

Thank you for the opportunity to earn your business.

Jon Herring
NationsMortgage
302 Williamston Road
Anderson, S.C. 29621
864-328-1770 (office)
864-328-1778 (direct)
877-328-1770 (toll free)
864-940-0259 (cell)

Boo! It's Halloween! Be Safe & Careful!

2008-10-31T20:25:00.000-07:00

Happy Halloween Everyone! Well, the holiday season has officially begun. Thanksgiving is coming soon and then Christmas will be around the corner. I think it would be a great idea to have a Christmas Boat Parade (for those of us who still have our boats in the water) just to show everyone that the drought doesn't have all of our spirits down. Lake Hartwell always comes back and it'll come back this time too. This is a wonderful place to live, work & play and I hope that many more people can find their way to this gorgeous part of the country (Western Upstate S.C. & Northeast Ga./ Lakes Hartwell & Keowee). Everyone get ready and.......DO A BIG RAINDANCE!!!!!

Fall Glorious Fall!

2008-10-30T08:56:00.000-07:00

What a BEAUTIFUL Fall day it is on Lake Hartwell! I think I'll go out and take some new Fall photos of some of my listings today. Fall is almost the prettiest season on Lakes Hartwell & Keowee! ~Today, try to take the time to concentrate on the possitive aspects of our lives. We all have so much to be grateful for!

Constantly Learning as Real Estate Markets Change

2008-10-28T16:47:00.000-07:00

Education is a very important part of being a Real Estate Agent. My husband, Gary Smith, and I have been taking advantage of this "Slow Market" by completing education that we wouldn't normally have time for during out Busy Markets of the past several years. I have recently completed the coursework to get my E-Pro Designation and this has taught me so much about internet marketing and helpful tools to get in order to show my properties off in their best possible light as well as help our buyers & sellers by making things much more convenient. I also completed my education to get my SC Real Estate Broker's License and have passed my LLR State examinations. Currently I am working on getting my RSPS (Resort & Second Home Specialist) Designation which many of our buyers & sellers will benefit from. Both Gary and I are Accredited Buyer Representatives (ABR) and use many tools to help buyers with full representation. I would have to say that our BIGGEST accomplishment was that my husband, Gary Smith, has completed his course work to get his US Coast Guard Boat Captain's License and passed the final exam with flying colors. He is currently taking mandatory CPR classes and leaves this weekend for Charleston to take his coursework to obtain his Master's Captain License. This is quite an accomplishment and I am very proud of him!

2008-09-30T15:08:00.000-07:00

Finding the Right Home

With all the choices in today's market, how do you go about finding the right home? It seems the more research you do, the more alternatives you discover.

It's important to visualize your needs and plan ahead. "Know what you want in a home, what's important to you, and what you can live without," Parker Quigley, Realtor of ReMax Foothills/ Anderson says. "Many of us start out with a champagne taste and a beer pocketbook, so it's important to be realistic," she adds.

Where and what you buy will affect you for as long as you live in the house. "Get your priorities in order before you start looking or even talk to a real estate broker or sales associate," Quigley says.

For first-time home buyers this is a new experience, so it's especially important to do your homework. If you currently own a home, you know exactly what's lacking. You may need another bedroom or bathroom, or a good school nearby.

First, decide where you want to live. A big part of the answer hinges on where and how you earn a living. If your job requires a lot of reading or is quite stressful, public transportation may offer valuable time to sit quietly. "Regardless, you should practice the commute in rush hour before you make a commitment. A seemingly quiet road can transform into gridlock during peak hours," Quigley cautions.

People with children have other major considerations: school and safety. If you plan to send your children to private schools, you can live where you want assuming you can easily arrange transportation. On the other hand, a lavish public school system may indicate high local real estate taxes. Check them out.

Obviously, lifestyle is an important consideration. People who frequently dine out, go dancing and attend the theater probably belong in the city or a close-in suburb. "In other words, make sure you're in close proximity to the things that matter most," Quigley says.

It used to be that homes came in a limited variety, but today, you have many choices. In addition to the traditional single-family home, you can buy a townhouse, condominium or apartment condominium or co-op.

In planned unit developments (PUDs), you can find almost any combination. In condos and other such communities, make sure the rules and regulations, as well as the by-laws, match your lifestyle. This type of housing is great for people who want to own their own space without being responsible for mowing the lawn or repairing the roof; a management company handles that.

On the other hand, you'll pay fees for these services. "In addition to checking the documents and financial soundness of the homeowner's association, you must determine if the monthly fees are worth the services and additional amenities such as a swimming pool or exercise room", Quigley explains.

Affordability can be a factor not only in the type of housing, but whether it's new or an existing home. Old houses often have fine woodwork or interesting nooks and crannies not normally found in new homes. They generally sit on landscaped lots with mature trees and grown bushes.

New homes may cost more, but you can make many more decisions on amenities, colors, carpeting and fixtures. "Make sure you're dealing with a reputable builder, and have an attorney review all documents, Quigley says.

Selecting a real estate professional is an important first step in beginning your search. "Ask for personal recommendations to find an individual who is knowledgeable about the neighborhood and has access to the local Multiple Listing Service," Quigley says. Make sure you feel confident about his or her knowledge and skills, and understand the business relationship that you have established between you.

Parker Quigley is one of more than 40,000 members of the Real Estate BUYER'S AGENT Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, who have attained the ABR®, Accredited Buyer Representative, designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 44,000 active real estate professional members of the organization throughout the world.

1031 Tax Exchange ( Vacation/ 2nd homes)

2008-09-11T12:42:00.000-07:00

****Courtesy of the Western Upstate Assoc. of Realtors***

1031 and Vacation Homes Rev Proc 2008-16
Can you do a 1031 Exchanges on a Vacation Home?
Taxpayers wanting to defer taxes on a vacation home through a Section 1031 like-kind exchange have
contended with incomplete guidelines for many years. A 1031 Exchange allows taxpayers to sell "business
or investment" property and purchase replacement property within the current regulations and have the
opportunity to defer or eliminate all the Federal and State Taxes. The current tax law will only allow you
to use Section 1031 for assets "held" either "for use in a trade or business" or "for investment." Property
that is held for personal use like a pure second home usually did not qualify. On February 15, 2008, the IRS
released Revenue Procedure 2008-16.
The IRS has never given guidance on how to handle these dual properties that have both personal and
investment use. Most vacation homes were rented, but no one knew how much personal use was allowed.
With Revenue Procedure 2008-16, the IRS will allow a vacation home to qualify for a Section 1031
exchange if the following conditions are met:
For the relinquished property
• You have owned it at least 24 months before the exchange
• In each of the two 12-month periods prior to the exchange the property has been rented at fair
value for 14 days or more
• The taxpayer's personal use of the property during the prior two 12-month periods doesn't
exceed the greater of 14 days, or-10% of the number of days during the periods that the
property is rented at a fair rental rate.
As with any 1031 exchange the replacement property must also qualify for business or investment property
test. The new Revenue Procedure will allow the property to qualify for 1031 exchange if the property is
held for at least 24 months after the exchange. Also the personal use and rental for the two 12 subsequent
12 month periods meet the same 14 day/10% test that hold for the property given up.
Please note that the Revenue Procedure is a just a Safe Harbor or guideline. The Safe Harbor means that if
you follow these rules your exchange will not fall under IRS scrutiny. If you do not meet these rules exactly
it does not preclude your exchange from qualifying.
Check with your tax attorney or 1031 Exchange Facilitator for more information.

Monday......already!!!!!

2008-09-08T11:24:00.000-07:00

Welcome back! My husband, Gary, and I took a wonderful leisurely ride in our cruizer on both Friday & Saturday nights to Portman Marina to dine at THE GALLEY restaurant. The have wonderful entree choices such as Prime Rib, King Crab Legs, Stuffed Flounder and many small dishes from the Tapas Bar in the Hearth Room. Living on Lake Hartwell is like being on vacation every day!!!!Ahhh, life is good! ~Parker

Labor Day Weekend's Over....Back to work!

2008-09-02T07:16:00.000-07:00

I hope everyone had a great Labor Day Weekend! Lake Hartwell is quiet again and Fun was had by all!
~Parker

Labor Day

2008-08-31T08:04:00.000-07:00

Happy Labor Day Weekend! Hopefully all boaters on Lake Hartwell are being extra cautious this year (with the lower water levels). There are many trees exposed ( a whole forest at the southern end of Andersonville Island) and large shoals peaking up above the water. Many visitors to Lake Hartwell come to our lake infrequently and are not aware of the potential danger of not knowing the lake. I saw a lot of examples of this yesterday on my boat ride, from the Seneca River to the Tugaloo River, to install a For Sale Sign on a Boat Dock.
The most beautiful season to enjoy Lake Hartwell is fast approaching. The summer haze will disappear, the trees will come alive with vibrant colors of red, yellow & orange and the sky will be the clearest blue you can imagine. I absolutely love fall on Lake Hartwell!!! Fall is also a good time to take care of small home repairs before you close up your Lake Home for the season. The Handymen for the jobs are 1)Keith Stokes (phone number is: 864-617-1653). Keith is a licensed electrician, great carpenter & also does small plumbing jobs. 2) Stephen Rahn (phone number is: 864-449-3396). Stephen specializes in small engine repair, installation of electronics, radios & GPS, on boats and can arrange for you to add a Sunroom to your Lake Home in a flash among many other things. Please check my blog daily for helpful information as well as schedules of local happenings around Lake Hartwell! ~Parker

Rain, Rain, Rain & More Rain....I hope!

2008-08-30T08:53:00.001-07:00

Lake Hartwell and the surrounding areas got some good soaking rains last week (along with some Tornados). The lake Level came up over a foot and hopefully we'll see more improvement of lake levels from impending tropical storms/ hurricanes swirling around in the caribbean. ***Tip of the day: make sure you keep your Boat Dock pushed out and floating if at all possible. Docks being grounded (along with Boats parked within) can cause serious damage to both your watercraft as well as your boat dock. You may call Ernest Rogers @ 864-934-7021 to help you with extending Dock Cables and pushing your dock out. More Later....Parker