Kim N. Bregman's Blog
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15 Ways to Save on Home Insurance
Posted Under: Home Buying in Boca Raton, Property Q&A in Boca Raton, Home Insurance in Boca Raton | May 12, 2012 3:36 AM | 56 views | No commentsLooking to squeeze the most from your home insurance dollar? Try these practical steps.
1. Shop around for home insurance quotes:
Check with several different home insurance companies to get rate quotes. An independent insurance agent can provide rate quotes from multiple companies. Ask around: Do your friends and family like their home insurance company?
2. Raise your home insurance deductible:
The deductible is the amount of money you have to pay toward a loss before your insurance kicks in. Typically, home insurance deductibles start at $250. The Insurance Information Institute (III) estimates that if you increase your deductible to either $500 or $1,000, you can realize double-digit decreases on your premiums. For example, an increase to $1,000 can save you up to 25 percent. However, make sure you can afford to pay the higher deductible out of pocket if something should happen.
3. Buy your home and auto insurance policies from the same insurance company:
Most companies will give a multiline discount if you buy both home insurance and auto coverage from them. It's one of the more significant discounts you can garner.
4. Consider insurance when buying a home:
If you're looking at buying a home, think about the cost of it. A newer home's electrical, heating and plumbing systems and overall structure are likely to be in better condition than those of an older home. This can lead to lower premiums.
You'll also want to consider the construction of the house and where you live. If you live on the Atlantic Coast, you'll want the house to be able to stand up to wind damage, while on the Pacific Coast, you need to keep earthquakes in mind. Home insurance does not cover these perils; instead, you need to buy windstorm or earthquake coverage separately, adding to your insurance cost.
5. Insure your home, not the land:
While your home and its contents are at risk from fire, theft, windstorms, and other perils, the ground your home sits on is not. Don't include the value of the land when deciding how much homeowner insurance you need to buy in order to rebuild your house. Your insurance agent can help you assess the right coverage level.
6. Improve security and safety:
Items such as dead bolt locks, burglar alarms and smoke detectors can usually bring discounts of 5 percent each, depending on the company. Your insurance company may also offer a significant discount of 15 or 20 percent if you install a sophisticated home-security system. If you're thinking about buying such a system, check with your insurer to see which systems qualify for a discount.
7. Stop smoking:
Smoking accidents account for almost 23,000 residential fires every year, according to III. Some insurers offer to reduce premiums if no one in the home smokes.
8. Look for senior discounts:
Retired people stay at home more and spot fires sooner than working people. Older people also have more time for maintaining their homes. If you're at least 55 years old and retired, you could qualify for as much as a 10 percent discount. However, it really depends on the insurer and some companies don't offer the discount.
9. Look for group coverage:
Large employers and business associations often work out deals with an insurance company, which includes a discount for employees and members.
10. Stay with a home insurance company:
If you've kept your coverage with a company for several years, you may receive special consideration. Several insurers will reduce your insurance rates by 5 percent after you stay with them for three to five years; and some companies will discount you as much as 10 percent after six years.
11. Check your coverage annually:
You want your policy to reflect the value of your home and belongings. If you review your policy every year, you will be able to make the necessary adjustments. If, for example, you just sold a valuable painting, you won't need the same amount of personal property coverage. But if you've added a room to your home, you'll need to increase your dwelling coverage.
12. Look for private home insurance first:
If you live in a high-risk area - one that is especially vulnerable to coastal storms, wildfires or crime - and think you'll be forced to buy home coverage from your state's high-risk insurance pool, check first with an independent insurance agent. You may find that you can still buy insurance at a lower price in the private insurance market than from your state's insurer of last resort.
13. Make EFT payments:
Many companies now charge $5 or more for mail payments, so having your payments automatically deducted will help shave off excess cost. Often your payments can come automatically from your credit card.
14. Maintain a good credit history:
Many insurers now check your credit and can adjust your price based on your level of "risk" as judged by your credit history, where allowed by state law. Make sure your credit is in good shape when you apply for policies.
15. Consider actual cash value vs. replacement cost:
Actual cash value coverage reimburses you for the value of your property at the time of damage or loss, minus your deductible. If you buy this option, you need to account for depreciation of your property, which may result in a lower claim payment than you expect.
Replacement cost coverage reimburses the full value of the item lost - after you purchase the new item and submit your receipts. The up-front premium is higher, but you receive full compensation for your possessions.
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Overlooked Home Tax Deductions for 2011
Posted Under: Home Buying in Boca Raton, Financing in Boca Raton, Property Q&A in Boca Raton | March 8, 2012 3:42 PM | 240 views | 2 commentsMany tax breaks accompany homeownership, and noting each can add thousands of dollars to an IRS tax refund.
“There are a wide variety of tax breaks available to existing homeowners and first-time homebuyers,” says Mark Steber, chief tax officer, Jackson Hewitt Tax Service, Inc. “Speaking with a local, knowledgeable tax preparer can help ensure taxpayers take advantage of all the home ownership-related credits and deductions for which they are eligible.”
There are several tax breaks available covering home-related areas:
• Mortgage Interest:
The amount of mortgage interest paid on a principal residence or second home is deductible and generally reported on Form 1098. Taxpayers can also deduct all the points paid to purchase or refinance the residence, even if the seller has paid some.
If certain requirements are met, the points may be deducted in full in the year paid. Otherwise, they may be deducted over the life of the mortgage. Seller-paid points that taxpayers claim as an itemized deduction reduce the cost basis of the home.
• Home Basis:
Most of the expenses incurred when buying a home are not deductible. However, there are certain closing costs that can be added to the basis of a residence. Keeping track of the basis is important because, when selling, it’s needed to calculate any gain or loss.
• Property Taxes:
Taxpayers may deduct real estate property taxes in the year paid. Taxpayers may also be able to deduct some of the taxes paid during closing. The taxes must be the responsibility of, and paid by, the taxpayer.
• Energy Credits:
Taxpayers get energy credits available for making energy efficient changes to a home. For 2011, the credit is limited to 10 percent of the cost of improvements, up to a lifetime total of $500. The credit will be further limited for each category of Improvement.
• Home Improvements:
Home improvements are not generally deductible on a tax return. However, the cost of improvements is added to the basis of the home and helps keep any gain, at time of sale, below the $250,000 ($500,000 if married filing jointly) exclusion amount.
Short Sales and Foreclosures:
There are also tax breaks for owners facing a foreclosure or short sale. Foreclosures and short sales are treated as both a home sale and a canceled debt. When the house is a taxpayer’s primary residence, and they have lived in and owned the home for two of the last five years, any gain up to $500,000 on the disposition is tax-exempt. In addition, the canceled debt (mortgage still owed) is excluded from taxable income for 2011, as long as it is less than $2 million and is for the taxpayer’s principal residence.
It is best to consult with your tax professional about which deductions you can claim for this year.
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Why Live In Western North Carolina?
Posted Under: Quality of Life in Asheville, Parks & Recreation in Asheville, Home Buying in Asheville | February 26, 2012 11:21 AM | 331 views | 1 commentAsheville has been recognized for its splendors by dozens of magazines, websites and publications in recent years. Accolades range from the designation by Frommer's as one of a dozen top travel destinations in the world to recognition for the Asheville area arts community, outdoor adventures, cuisine, organic and vegetarian eats, and much more.
2011:
TripAdvisor.com lists Asheville as one of its "15 Destinations on the Rise." (December 2011)
Zagat.com included Firestorm Cafe & Books in a list of the "10 Coolest Independent Coffee Shops Across the US."
Condé Nast Traveler's annual Reader's Choice Awards Poll chose two Asheville properties among the best in the nation. The Grove Park Inn Resort & Spa was rated a Top U.S. Resort, and the Grand Bohemian Hotel Asheville was rated at Top U.S. Hotel.
Asheville is named "Best Place to Start a Fall Foliage Tour" by Livabiliy.com (October 2011)
The editors of Prevention magazine and Fitbie rank Asheville as the #5 best U.S. city for weight loss, thanks to a wide variety of options for finding farm fresh food choices. (October 2011)
Asheville comes in at #10 in TripAdvisor.com's Travelers' Choice Awards for top food and wine destinations in the U.S. (October 2011)
Good Morning America featured Asheville as one of its"Most Beautiful Places in America." (August 2011)
DogFriendly.com released its list of "Top 10 Resort Areas to Visit with your Dog" in the U.S. and named Asheville and the Blue Ridge Parkway as #2. (August 2011)
Yoga Journal magazine includes Asheville in its list of "10 Fantastically Yoga-Friendly Towns." (August 2011)
Asheville again rises to the top of AmericanStyle magazine's Top 25 Small City Arts Destinations, narrowly beating Santa Fe in the annual readers' poll. (May 2011)
Online poll on Examiner.com: "Asheville, BeerCity USA 2011 makes it a three-pete" Asheville won with more than 46% of the vote and significant support from outside North Carolina. (May 2011)
Livability lists McCormick Field, the home of the Asheville Tourists, as one of the top 10 minor league stadiums. (March 2011)
The Donald Ross-designed course at the Grove Park Inn Resort & Spa makes the reader-nominated list of "125 Top Golf Resorts." (April 2011)
Fodors.com names Asheville as one of the "21 Places We're Going in 2011," highlighting the city's food and drink scene and its artsy vibe. (January 2011)
The Traveler's Choice Awards on TripAdvisor.com named the Residences at Biltmore the #23 hotel in the nation. (January 2011)
2010:
White House Statement: During President Obama’s spring vacation in Asheville, White House spokeswoman Moira Mack issued the following statement, “The president first visited the Asheville area during the campaign, and he liked it so much that he vowed to take his family there. The president and first lady are planning to spend a quiet weekend enjoying some of the many things this beautiful part of the country has to offer.” (April 2010)
Online Poll Posted on Examiner.com: Asheville holds onto its title as Beer City USA. (May 2010)
AmericanStyle.com: Asheville was ranked the number one small city (population under 100,000) for the arts in their annual “Top 25 Arts Destinations” reader’s poll. (May 2010)
Livability.com: Ranked Asheville one of their 10 most surprisingly vibrant food cities. (April 2010)
Sherman's Travel: Named Asheville as one of its top 10 spring getaways. (March 2010)
TopRetirements.com: Asheville was rated number one in TopRetirement.com’s list of the most popular retirement towns for 2010. (February 2010)
RateBeer.com: This craft beer aficionado Web site named several Asheville area restaurants, breweries and craft beer stores in their annual RateBeer Best 2010. (January 2010)
Bruisin’ Ales – Number three best beer retailer worldwide The Thirsty Monk – Number 41 Beer Bar Barley’s Taproom & Pizzeria – Number 27 Beer Restaurant Mellow Mushroom – Number 41 Beer Restaurant Highland Brewing – Number 26 Brewery to Visit Wedge Brewery – Number 43 Brewpub
Southern Living: In the magazine’s “Best of the South Travel Awards,” Asheville’s Little Pigs BBQ placed second in the best barbecue in North Carolina category. (January 2010)
Travel+Leisure: Asheville’s Inn on Biltmore Estate and Richmond Hill Inn were named in the magazine’s "500 Best Hotels" list. (January 2010)
Byways: Named Asheville as one of the magazine's "Top 50 North American Group Tour Destinations of 2010." (December 2009)
Why Live In Western North Carolina?:
Art, Music, & Culture
There are hundreds of artists who live near the Asheville, NC and they don’t mind welcoming you into their art studios. For example, in downtown Asheville, along the French Broad River, is where you will find the River Arts District, home to 165 year round working artist studios. You can observe famous artists such as Jonas Gerard painting colorful masterpieces, Constance Williams molding pottery and more artists creating hand blown glass and art sculptures.
Thirty minutes to the north in Burnsville NC, the Toe River Studio Tour takes place twice a year where you’ll find 100 more local artists opening their studio doors to the public. Have you visited the Appalachian Folk Art Center located on the Blue Ridge Parkway at mile post 382, only five minutes from downtown Asheville? This is a fantastic place to find one of a kind Appalachian art made from natural elements such as stone, animal artifacts, fabric and find breath taking photographs of the Blue Ridge Parkway.
One of the classic examples of observing Ashevillian culture is by attending the weekly Friday night Drum Circle held in downtown Asheville NC. Locals come out of the woodwork to bang their drums in harmony while others dance to the music. You will find life in Western North Carolina revolves around art, music and spending as much time as possible outdoors.
High End Education:
Asheville NC is ahead of the curve by recognizing how desirable this region has become to retirees and delivering community forums geared towards mature adults. The University of North Carolina Asheville founded the North Carolina Center for Creative Retirement. The NCCCR offers an impressive list of lifelong learning courses for mature adults and cultural entertainment on campus.
To the south, Western Carolina University in Cullowhee is home to the Catmounts. For over 100 years, this college has molded some of the finest entrepreneurs graduating from their business school. Brevard College, Blue Ridge Community College and Montreat College are more excellent colleges within 30 miles of downtown Asheville NC.
You might be surprised to discover that Haywood Community College in Waynesville NC is carving a high tech image for itself as its new RHTC campus teaches 3D imaging, solar energy technologies and robotics courses. No matter where you to choose to live in Western North Carolina, you will find affordable college courses to enjoy and campuses offering you part-time teaching opportunities.
Easy Access to Many Major Cities:
Getting in and out of Western North Carolina to see your family and friends is quick, easy and is becoming less expensive. Asheville Regional Airport ( AVL ) currently offers the following non-stop flights from these major cities:
• Atlanta - Delta
• Charlotte - U S Airways
• Chicago - United
• Detroit - Delta
• Houston - Continental
• Newark - Continental
• Orlando - Allegiant
• Philadelphia - U S Airways
Greenville Spartanburg International Airport is about an hour south of Asheville and is the new east coast hub for Southwest Airlines. Charlotte International Airport is about 2 hours east of Asheville NC and is U S Airway’s east coast hub. Major highway access can be found traveling in all directions via Interstate 26 or Interstate 40. For those of us in no rush, scenic U.S. Route 64 travels from Western North Carolina to the Outer Banks beaches or you can travel north or south on America’s Favorite Scenic Drive, the Blue Ridge Parkway.
Healthy Food Choices:
From the farm to the dinner table, if eating healthy food is important to you, there is no better place to live than in Western North Carolina offering I Green Markets, farm stands and organic health food stores through the region. The city of Asheville appeals to the most demanding taste buds and health conscious obsessions. Ashevillian’s pride themselves on fresh grown mountain produce. Apples, herbs, homemade cheeses, breads, grass fed beef and free range poultry are just a few of the items you can find at the 88 tail gate markets in the Appalachian Mountain range. Whole Foods and Earth Fare clearly dominate the grocery store market in Asheville North Carolina. Beyond the city limits, you will find 30 more weekly farmer’s markets to explore or you can grow your own organic garden.
Festivals, Fairs, and Shows:
These are just of few of the major festivals and events that occur each year. There is hundreds of local shows, festivals and fairs for you to attend year round.
• Asheville NC - Bele Chere Festival
This is the largest free outdoor street festival on the east coast held each year in July. The City of Asheville blocks off the downtown city streets for three days as 200,000 people enjoy live music, fantastic food and art exhibits.
• Asheville NC - Big Band Swing and Dance Weekend
Held in January at the legendary Grove Park Inn, this annual festival brings in world class Big Bands playing jazz music from the Swing Era as dancers perform the Tango, the Charleston and popular 1920‘s swing dances.
• Asheville NC - Comedy Classic Weekend
Held in March at the Grove Park Inn, this two day annual event brings in the funniest and best known comedians from across the country.
• Asheville NC - Festival of Flowers
Held during the month of April, this well known North Carolina festival is held at The Biltmore Estate attracting gardening hobbyist and photographers alike.
• Asheville NC - Winter Warmer Beer Festival
Named the Best BeerCity USA three years in a row, this annual January beer festival is held at the Asheville Civic Center.
• Black Mountain NC - Lake Eden Arts Festival (LEAF)
Held in May and October, this is the closest to a mini Woodstock festival I’ve ever seen. Attendees camp out overnight for three days around the lake listening to the fabulous blues and jazz artists.
• Brevard NC - White Squirrel Festival
Held Memorial Day Weekend, this annual festival includes live entertainment, an old fashioned box car derby and everything you can image relating to a fluffy white squirrel.
• Hendersonville NC - North Carolina Apple Festival
Held Labor Day weekend, this is four day festival is the largest Apple Festival in North Carolina. Celebrating the sweetness of apples, you can find just about anything apple at this tasty festival. Be sure not to miss the King Apple Parade.
• Waynesville NC - Folkmoot USA
Held in July, Folkmoot USA is the State International Festival of North Carolina. Up to 350 performers from 10 countries dance in the streets during this mountain festival. The Folkmoot Parade kicks off this two day North Carolina festival celebration.
The BLUE RIDGE PARKWAY and Over One Million Acres Of National & State Parks:
From the Virginia state line at mile post 216.9 south to mile post 469.1 bordering Tennessee and Western North Carolina, this 253 mile stretch is among the most scenic roadways in America overlooking more than 1,000,000 acres of protected national forest. The Blue Ridge Parkway passes through the Pisgah National Forest, Nantahala National Forest and leads to the gateway of Great Smoky Mountains National Park. The Blue Ridge Parkway is easily accessible from Asheville, Waynesville and the North Carolina High Country. Hiking trails, waterfalls, picnic areas and breath taking scenic outlooks are fantastic places to spend the afternoon along the Blue Ridge Parkway. Living near the Blue Ridge Parkway is truly special.
Every year 8.6 million people visit the National Forests in North Carolina, to camp, hike, mountain bike, fish, take scenic drives or enjoy the forest's solitude. The two National Forests Western in North Carolina include Nantahala &Pisgah and don’t forget Dupont State Forest ( land of the waterfalls).
Top Medical Care:
Mission Hospital Asheville NC - Ranked a Top 100 Heart Hospital
As bizarre as it sounds, your chance of dying in Mission Hospital Asheville are 21% less than a typical hospital according to Dr. Ronald A. Paulus, president and CEO of Mission Health. The Asheville Mission Hospital Health system is ranked among the Top 15 Health Care Systems in the country by Thomson Reuters, a measurement of excellence. Asheville Mission Hospital’s comprehensive geriatric specialties serve the community by providing preventive care and inpatient care in the heart of Western North Carolina.
VAMC Hospital is Asheville North Carolina’s Veterans Hospital.
Established in 1922, this hospital continues to provide a long list medical specialties to over 100,000 veterans in Western North Carolina. From surgery to diagnostics, fitness to rehabilitation, the VAMC is committed to diligently caring for America’s heroes. Beyond the city limits of Asheville NC, the Pardee Hospital system in Hendersonville, Haywood Regional Medical Center in Waynesville NC and the West Care Health System in Sylva also provide quality medical care.
Come to Western North Carolina for the Season or Year-Round:
Whether you’re a Floridian half backer seeking to escape the summer heat or a northerner leaving the frigid winters behind, Western North Carolina offers four mild seasons, incredible mountain beauty, intriguing art, rich culture, quick access to major cities and home affordability.
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Why Live In Western North Carolina?
Posted Under: Quality of Life in Asheville, Parks & Recreation in Asheville, Home Buying in Asheville | February 26, 2012 11:20 AM | 346 views | 4 commentsAsheville has been recognized for its splendors by dozens of magazines, websites and publications in recent years. Accolades range from the designation by Frommer's as one of a dozen top travel destinations in the world to recognition for the Asheville area arts community, outdoor adventures, cuisine, organic and vegetarian eats, and much more.
2011:
TripAdvisor.com lists Asheville as one of its "15 Destinations on the Rise." (December 2011)
Zagat.com included Firestorm Cafe & Books in a list of the "10 Coolest Independent Coffee Shops Across the US."
Condé Nast Traveler's annual Reader's Choice Awards Poll chose two Asheville properties among the best in the nation. The Grove Park Inn Resort & Spa was rated a Top U.S. Resort, and the Grand Bohemian Hotel Asheville was rated at Top U.S. Hotel.
Asheville is named "Best Place to Start a Fall Foliage Tour" by Livabiliy.com (October 2011)
The editors of Prevention magazine and Fitbie rank Asheville as the #5 best U.S. city for weight loss, thanks to a wide variety of options for finding farm fresh food choices. (October 2011)
Asheville comes in at #10 in TripAdvisor.com's Travelers' Choice Awards for top food and wine destinations in the U.S. (October 2011)
Good Morning America featured Asheville as one of its"Most Beautiful Places in America." (August 2011)
DogFriendly.com released its list of "Top 10 Resort Areas to Visit with your Dog" in the U.S. and named Asheville and the Blue Ridge Parkway as #2. (August 2011)
Yoga Journal magazine includes Asheville in its list of "10 Fantastically Yoga-Friendly Towns." (August 2011)
Asheville again rises to the top of AmericanStyle magazine's Top 25 Small City Arts Destinations, narrowly beating Santa Fe in the annual readers' poll. (May 2011)
Online poll on Examiner.com: "Asheville, BeerCity USA 2011 makes it a three-pete" Asheville won with more than 46% of the vote and significant support from outside North Carolina. (May 2011)
Livability lists McCormick Field, the home of the Asheville Tourists, as one of the top 10 minor league stadiums. (March 2011)
The Donald Ross-designed course at the Grove Park Inn Resort & Spa makes the reader-nominated list of "125 Top Golf Resorts." (April 2011)
Fodors.com names Asheville as one of the "21 Places We're Going in 2011," highlighting the city's food and drink scene and its artsy vibe. (January 2011)
The Traveler's Choice Awards on TripAdvisor.com named the Residences at Biltmore the #23 hotel in the nation. (January 2011)
2010:
White House Statement: During President Obama’s spring vacation in Asheville, White House spokeswoman Moira Mack issued the following statement, “The president first visited the Asheville area during the campaign, and he liked it so much that he vowed to take his family there. The president and first lady are planning to spend a quiet weekend enjoying some of the many things this beautiful part of the country has to offer.” (April 2010)
Online Poll Posted on Examiner.com: Asheville holds onto its title as Beer City USA. (May 2010)
AmericanStyle.com: Asheville was ranked the number one small city (population under 100,000) for the arts in their annual “Top 25 Arts Destinations” reader’s poll. (May 2010)
Livability.com: Ranked Asheville one of their 10 most surprisingly vibrant food cities. (April 2010)
Sherman's Travel: Named Asheville as one of its top 10 spring getaways. (March 2010)
TopRetirements.com: Asheville was rated number one in TopRetirement.com’s list of the most popular retirement towns for 2010. (February 2010)
RateBeer.com: This craft beer aficionado Web site named several Asheville area restaurants, breweries and craft beer stores in their annual RateBeer Best 2010. (January 2010)
Bruisin’ Ales – Number three best beer retailer worldwide The Thirsty Monk – Number 41 Beer Bar Barley’s Taproom & Pizzeria – Number 27 Beer Restaurant Mellow Mushroom – Number 41 Beer Restaurant Highland Brewing – Number 26 Brewery to Visit Wedge Brewery – Number 43 Brewpub
Southern Living: In the magazine’s “Best of the South Travel Awards,” Asheville’s Little Pigs BBQ placed second in the best barbecue in North Carolina category. (January 2010)
Travel+Leisure: Asheville’s Inn on Biltmore Estate and Richmond Hill Inn were named in the magazine’s "500 Best Hotels" list. (January 2010)
Byways: Named Asheville as one of the magazine's "Top 50 North American Group Tour Destinations of 2010." (December 2009)
Why Live In Western North Carolina?:
Art, Music, & Culture
There are hundreds of artists who live near the Asheville, NC and they don’t mind welcoming you into their art studios. For example, in downtown Asheville, along the French Broad River, is where you will find the River Arts District, home to 165 year round working artist studios. You can observe famous artists such as Jonas Gerard painting colorful masterpieces, Constance Williams molding pottery and more artists creating hand blown glass and art sculptures.
Thirty minutes to the north in Burnsville NC, the Toe River Studio Tour takes place twice a year where you’ll find 100 more local artists opening their studio doors to the public. Have you visited the Appalachian Folk Art Center located on the Blue Ridge Parkway at mile post 382, only five minutes from downtown Asheville? This is a fantastic place to find one of a kind Appalachian art made from natural elements such as stone, animal artifacts, fabric and find breath taking photographs of the Blue Ridge Parkway.
One of the classic examples of observing Ashevillian culture is by attending the weekly Friday night Drum Circle held in downtown Asheville NC. Locals come out of the woodwork to bang their drums in harmony while others dance to the music. You will find life in Western North Carolina revolves around art, music and spending as much time as possible outdoors.
High End Education:
Asheville NC is ahead of the curve by recognizing how desirable this region has become to retirees and delivering community forums geared towards mature adults. The University of North Carolina Asheville founded the North Carolina Center for Creative Retirement. The NCCCR offers an impressive list of lifelong learning courses for mature adults and cultural entertainment on campus.
To the south, Western Carolina University in Cullowhee is home to the Catmounts. For over 100 years, this college has molded some of the finest entrepreneurs graduating from their business school. Brevard College, Blue Ridge Community College and Montreat College are more excellent colleges within 30 miles of downtown Asheville NC.
You might be surprised to discover that Haywood Community College in Waynesville NC is carving a high tech image for itself as its new RHTC campus teaches 3D imaging, solar energy technologies and robotics courses. No matter where you to choose to live in Western North Carolina, you will find affordable college courses to enjoy and campuses offering you part-time teaching opportunities.
Easy Access to Many Major Cities:
Getting in and out of Western North Carolina to see your family and friends is quick, easy and is becoming less expensive. Asheville Regional Airport ( AVL ) currently offers the following non-stop flights from these major cities:
• Atlanta - Delta
• Charlotte - U S Airways
• Chicago - United
• Detroit - Delta
• Houston - Continental
• Newark - Continental
• Orlando - Allegiant
• Philadelphia - U S Airways
Greenville Spartanburg International Airport is about an hour south of Asheville and is the new east coast hub for Southwest Airlines. Charlotte International Airport is about 2 hours east of Asheville NC and is U S Airway’s east coast hub. Major highway access can be found traveling in all directions via Interstate 26 or Interstate 40. For those of us in no rush, scenic U.S. Route 64 travels from Western North Carolina to the Outer Banks beaches or you can travel north or south on America’s Favorite Scenic Drive, the Blue Ridge Parkway.
Healthy Food Choices:
From the farm to the dinner table, if eating healthy food is important to you, there is no better place to live than in Western North Carolina offering I Green Markets, farm stands and organic health food stores through the region. The city of Asheville appeals to the most demanding taste buds and health conscious obsessions. Ashevillian’s pride themselves on fresh grown mountain produce. Apples, herbs, homemade cheeses, breads, grass fed beef and free range poultry are just a few of the items you can find at the 88 tail gate markets in the Appalachian Mountain range. Whole Foods and Earth Fare clearly dominate the grocery store market in Asheville North Carolina. Beyond the city limits, you will find 30 more weekly farmer’s markets to explore or you can grow your own organic garden.
Festivals, Fairs, and Shows:
These are just of few of the major festivals and events that occur each year. There is hundreds of local shows, festivals and fairs for you to attend year round.
• Asheville NC - Bele Chere Festival
This is the largest free outdoor street festival on the east coast held each year in July. The City of Asheville blocks off the downtown city streets for three days as 200,000 people enjoy live music, fantastic food and art exhibits.
• Asheville NC - Big Band Swing and Dance Weekend
Held in January at the legendary Grove Park Inn, this annual festival brings in world class Big Bands playing jazz music from the Swing Era as dancers perform the Tango, the Charleston and popular 1920‘s swing dances.
• Asheville NC - Comedy Classic Weekend
Held in March at the Grove Park Inn, this two day annual event brings in the funniest and best known comedians from across the country.
• Asheville NC - Festival of Flowers
Held during the month of April, this well known North Carolina festival is held at The Biltmore Estate attracting gardening hobbyist and photographers alike.
• Asheville NC - Winter Warmer Beer Festival
Named the Best BeerCity USA three years in a row, this annual January beer festival is held at the Asheville Civic Center.
• Black Mountain NC - Lake Eden Arts Festival (LEAF)
Held in May and October, this is the closest to a mini Woodstock festival I’ve ever seen. Attendees camp out overnight for three days around the lake listening to the fabulous blues and jazz artists.
• Brevard NC - White Squirrel Festival
Held Memorial Day Weekend, this annual festival includes live entertainment, an old fashioned box car derby and everything you can image relating to a fluffy white squirrel.
• Hendersonville NC - North Carolina Apple Festival
Held Labor Day weekend, this is four day festival is the largest Apple Festival in North Carolina. Celebrating the sweetness of apples, you can find just about anything apple at this tasty festival. Be sure not to miss the King Apple Parade.
• Waynesville NC - Folkmoot USA
Held in July, Folkmoot USA is the State International Festival of North Carolina. Up to 350 performers from 10 countries dance in the streets during this mountain festival. The Folkmoot Parade kicks off this two day North Carolina festival celebration.
The BLUE RIDGE PARKWAY and Over One Million Acres Of National & State Parks:
From the Virginia state line at mile post 216.9 south to mile post 469.1 bordering Tennessee and Western North Carolina, this 253 mile stretch is among the most scenic roadways in America overlooking more than 1,000,000 acres of protected national forest. The Blue Ridge Parkway passes through the Pisgah National Forest, Nantahala National Forest and leads to the gateway of Great Smoky Mountains National Park. The Blue Ridge Parkway is easily accessible from Asheville, Waynesville and the North Carolina High Country. Hiking trails, waterfalls, picnic areas and breath taking scenic outlooks are fantastic places to spend the afternoon along the Blue Ridge Parkway. Living near the Blue Ridge Parkway is truly special.
Every year 8.6 million people visit the National Forests in North Carolina, to camp, hike, mountain bike, fish, take scenic drives or enjoy the forest's solitude. The two National Forests Western in North Carolina include Nantahala &Pisgah and don’t forget Dupont State Forest ( land of the waterfalls).
Top Medical Care:
Mission Hospital Asheville NC - Ranked a Top 100 Heart Hospital
As bizarre as it sounds, your chance of dying in Mission Hospital Asheville are 21% less than a typical hospital according to Dr. Ronald A. Paulus, president and CEO of Mission Health. The Asheville Mission Hospital Health system is ranked among the Top 15 Health Care Systems in the country by Thomson Reuters, a measurement of excellence. Asheville Mission Hospital’s comprehensive geriatric specialties serve the community by providing preventive care and inpatient care in the heart of Western North Carolina.
VAMC Hospital is Asheville North Carolina’s Veterans Hospital.
Established in 1922, this hospital continues to provide a long list medical specialties to over 100,000 veterans in Western North Carolina. From surgery to diagnostics, fitness to rehabilitation, the VAMC is committed to diligently caring for America’s heroes. Beyond the city limits of Asheville NC, the Pardee Hospital system in Hendersonville, Haywood Regional Medical Center in Waynesville NC and the West Care Health System in Sylva also provide quality medical care.
Come to Western North Carolina for the Season or Year-Round:
Whether you’re a Floridian half backer seeking to escape the summer heat or a northerner leaving the frigid winters behind, Western North Carolina offers four mild seasons, incredible mountain beauty, intriguing art, rich culture, quick access to major cities and home affordability.
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How a Foreclosure or Short Sale Affects Getting Your Next Home Loan
Posted Under: Home Buying in Boca Raton, Foreclosure in Boca Raton, Credit Score in Boca Raton | February 23, 2012 12:11 PM | 305 views | 1 commentNext to filing for bankruptcy protection, nothing wrecks your chances of qualifying for a home loan like a foreclosure.
And if you got out from under an oppressive mortgage through a short sale – when the bank agrees to accept less than what the homeowner owes – lenders can look upon you just as unfavorably.
It’s a reality that the former owners of the more than 4 million homes lost to foreclosure in the six years since the housing bubble burst will have to confront if they want to own again. But the passage of time makes all the difference.
That’s because mortgage-lending guidelines that most banks follow prohibit them from making loans to people with foreclosure or a short sale in their credit history, often for years. Never mind the hit that one’s credit score takes.
Still, some of the homeowners who were foreclosed upon when the market first started to skid are now looking to buy and getting loans.
“They’re probably going to pay a little higher interest rate, but with rates so low, a higher interest rate of 4 percent is not a big deal,” said Rosa Herwick, a broker and owner of Century 21 JR Realty in Henderson, Nev.
So how likely are banks to approve your mortgage application if you have a real estate-related blemish on your record? And can you do anything to spring yourself from the mortgage penalty box?
It depends on several factors, but largely on whether you had a foreclosure or a short sale.
Foreclosure
Generally, borrowers who have a foreclosure in their credit history can expect to wait between two to seven years before a lender will even accept their loan application.
The waiting periods stem from guidelines most banks must follow in order to be able to sell their home loans. That’s because potential purchasers, such as Fannie Mae and Freddie Mac, each have a different set of guidelines for the loans they will buy and criteria for whom they deem a qualified borrower.
The fact is, a person’s credit score, employment history and other factors that make up one’s creditworthiness will take a back seat to these resale guidelines.
If a buyer with a past foreclosure is seeking a government-backed mortgage, the waiting period can vary before they can qualify.
Take the Federal Housing Administration (FHA), which insures roughly 30 percent of new loans. Under its guidelines, former homeowners must wait three years from the date of their foreclosure before they can qualify for backing by the agency.
Compare the U.S. Department of Agriculture’s housing program, which requires three years, while the time penalty for a VA loan is two years. Fannie Mae and Freddie Mac, which own or guarantee about half of all mortgages, require the longest stretch: seven years after a foreclosure.
In some cases, the waiting periods for a foreclosure can be reduced.
Fannie Mae, for example, allows a three-year waiting period in the event the foreclosure was due to an extenuating circumstance. The company defines this as an event that was beyond the homeowners’ control and resulted in a sudden reduction in income or catastrophic increase in financial obligations. Think job layoff, medical bills or divorce.
FHA may grant an exception to its waiting period in the event a wage earner becomes seriously ill or dies. A divorce may qualify for an exception, but only in certain cases.
Short sales
The roadblocks for having a short sale in your credit history can be less severe, and in some cases, waived altogether.
FHA requires borrowers who weren’t paying their mortgage when they sold their house to wait three years before they can qualify for a home loan. That time penalty may be waived in certain cases, including long-term job loss.
There is no FHA time penalty for homeowners who made their house payments in the 12 months before their short sale.
The size of a downpayment can also shorten the waiting period.
A downpayment of 20 percent or more will cut Fannie Mae’s time penalty on a borrower with a short sale down to two years from seven. Buyers who put down 10 percent can qualify after four years.
Credit score
It’s no longer just a waiting game for homeowners caught up in the earliest stages of the foreclosure crisis in 2007 and 2008. There’s still the impact a foreclosure or short sale has on one’s credit score – still very much a factor in qualifying for a loan.
Like most credit blemishes, foreclosures and short sales will remain in your credit history for seven years.
As a general rule, the higher your FICO score, the more it will drop as a result of a bad debt, said Barry Paperno, consumer affairs manager for MyFICO.com, the consumer website for FICO.
FICO credit scores range from 300 to 850. In simulations, a foreclosure sent a FICO score of about 720 down to as low as 570 and took about seven years to recover fully, assuming everything else being equal.
Still, there are steps one can take to burnish one’s tarnished credit rating.
• While in the foreclosure penalty box, make sure to pay all your bills on time.
• Get more credit. This may sound counterintuitive after a foreclosure, but beefing up your track record of good credit accounts can help boost one’s credit score. A car loan or a credit card will do. But if you get a credit card, pay it off every month.
• Be patient. A foreclosure’s drag on your credit score will decline over time.
• Dispute any mistakes on your credit report, which can lower your score.
• Don’t close your oldest credit accounts. Your score gets a boost from older credit lines.
• Scale back your lifestyle and pocket the savings toward a future down payment.
Article written by Alex Veiga a real estate writer. -
Questions to Ask About Homeowner's Insurance
Posted Under: Home Buying in Asheville, Property Q&A in Asheville, Home Insurance in Asheville | February 21, 2012 2:25 PM | 352 views | No commentsAccording to the Insurance Information Institute ( I.I.I.) there are six basic questions everyone should ask before buying or renewing a homeowners insurance policy:
1. How much would it cost to rebuild my home in its current location in the event of a total loss? Ideally, a homeowners insurance policy should cover the cost of building a new home from scratch. In general, homeowners policies cover partial or total damages caused by fire, hurricane, hail, lightning or any other disaster if it’s listed in the policy. Flood and earthquake-related losses must be insured separately because both perils are excluded in standard homeowners insurance policies.
2. How much is my personal property worth in the event of a total loss? A homeowners insurance policy should cover the cost of replacing all personal property (furniture, appliances, clothing) should it be stolen or destroyed by fire, hurricane or another insured disaster. Most companies provide personal property coverage equal to about 50 to 70 percent of the amount of insurance on the home’s structure. (A $100,000 policy for the structure would have perhaps $50,000 to $70,000 worth of personal property coverage.)
However, the best way to determine personal property coverage in a specific situation is to conduct a home inventory. I.I.I. provides online software to help homeowners catalog and value possessions (link underlined to: https://www.knowyourstuff.org/iii/login.html) as well as an iPhone app.
3. How much liability protection do I need? Liability covers homeowners against lawsuits for bodily injury or property damage caused to other people, including damage caused by pets. The liability portion of a policy pays legal defense costs and any court awards – but only up to the limit set in the policy. It’s effective not just inside the home but also anywhere in the world. Liability limits generally start at about $100,000, and many insurance agents will recommend at least $300,000. Homeowners with significant assets may want more; others may want less.
4. What level of additional living expense coverage do I need? The Additional Living Expenses (ALE) provision is found in standard homeowners insurance policies. It pays for the costs of living away from home if damage from an insured disaster makes the house uninhabitable. ALE covers hotel bills, meals and other expenses above customary living expenses.
ALE coverage differs from company to company. Many policies provide coverage equal to about 20 percent of dwelling protection. For example, if the structure of your home is insured for $100,000, you would have $20,000 of ALE coverage. Some companies impose a time limitation, such as 12 to 24 months.
5. Should I buy a separate flood and/or earthquake insurance policy? Flood coverage is available from the federal government’s National Flood Insurance Program (NFIP) and from a few private insurers. Earthquake coverage is usually available in the form of a supplemental policy.
6. Do I qualify for any discounts? Homes with smoke detectors, burglar alarms or dead-bolt locks often get a premium rate discount. Sophisticated sprinkler systems and alarms that ring at monitoring stations often reduce homeowners insurance premiums too. Ask an agent. If you are at least 55 years old and retired, for instance, you may qualify for a discount of up to 10 percent at some companies. If you have completely modernized your plumbing or electrical system recently, a few companies may provide a price break. -
Mortgage Insurance Primer
Posted Under: Home Buying in Boca Raton, Financing in Boca Raton | February 17, 2012 4:06 AM | 340 views | 3 commentsConventional, FHA, USDA...
Homebuyers often have a lot of questions about mortgage insurance (MI)...and understandably so. With different rules for different loan programs, the details can be confusing.
Here are a few things to keep in mind. All types of MI protect the lender in the event of default, and MI is typically required when homebuyers have less than a twenty percent deposit to put down on a home. There are two main types of MI: an Up Front Mortgage Insurance Premium (UFMIP), which is generally financed into the loan, and an additional monthly mortgage insurance premium (MIP), paid as a part of your normal monthly mortgage payment.
Here are some additional details to keep in mind:
** Note that the FHA MIP example is based on a 30 year example.CONVENTIONAL "MI"
FHA
"MIP"**USDA "GUARANTEE FEE"
Basics
MI can be monthly or all up front
1% UFMIP rolled into loan amount + Monthly Premium
2% UF Guarantee Fee + Monthly Guarantee Fee
Potential Benefits
Upfront MI can save significantly on monthly payments.
Conventional MI often has lower monthly payments than FHA.
Income requirements are relaxed compared to conventional MI & USDA.
There is more flexibility in credit scores.
Seller paid closing costs is allowable up to 6%.The monthly premium is typically almost 1/4 the cost of FHA.
Potential Pitfalls
Seller paid closing costs is limited to 3% if ?5% down payment.
Credit requirements and income requirements are more stringent.
The monthly premium is typically higher than conventional & USDA.
There are specific geographic and income eligibility requirements. Income requirements are much more stringent than FHA.
Dropping MI
When the value reaches 78% of the original sales price, MI automatically falls off.
You can request removal if the principal balance reaches 80% (i.e. accelerated payment of principal or, in some cases via an appraisal of the property showing increased value).
You must meet two tests to drop FHA's MIP:
1. You must PAY the balance down to 78% of the original sale price of the property (you can't just get an appraisal to show equity).
AND
2. You must pay the monthly MIP for a minimum of 5 years.
The USDA Guarantee Fee remains on the loan for the entire term. It can never be dropped from a USDA loan until the property is sold, refinanced or the loan is paid off.