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“Onslow County Economy Fastest Growing in Nation”

April 17, 2013 by · Leave a Comment 

Published: Friday, January 25, 2013 at 08:00 AM.

Onslow County is America’s fastest-growing county over the past five years, according to a federal agency that tracks economics.

Total personal income in Onslow climbed 55.5 percent, from $5.3 billion in 2006 to $8.3 billion in 2011, according to the U.S. Bureau of Economic Analysis. Total personal income is defined as the amount of money earned by all residents of a given area in a particular year.

Douglas County, Colo., a Denver suburb, ranked No. 2. Rounding out the top five were Loudoun County, Va.; Paulding County, Ga.; Fort Bend County, Texas; and Pinal County, Ariz.

Wayne County, Mich., home to Detroit, is last on the list.

Onslow’s booming economy is fueled by Marines and sailors stationed at Camp Lejeune and New River Air Station, according to a recent report in the Charlotte Business Journal.

But that’s just a third of the story, said Shelia Pierce, director of Jacksonville-Onslow Economic Development.

“Our economy is powered by the U.S. Marine Corps, of course, but Onslow County also has a wide agricultural base and its tourism, which is beginning to be recognized at the national level, is a major component as well,” she said.

The military, agriculture and tourism are the top three economic areas for North Carolina, which bodes well that they are also the top for Onslow County, she said.

“Our local economy will stay secure for some time,” Pierce said, adding that now is the time to invest in infrastructure.

Onslow County Manager Jeff Hudson said growth in the county has been pronounced in the past few years.

“Information from our tax office and our building inspections offices verify that fact,” he said.

Onslow County’s total estimated tax base is $13.2 billion, said Harry Smith, the county tax administrator.

Hudson said an increasing county population has begun to strain the services provided by local government. But he said the county is committed to providing services to the expanding population as efficiently as possible.

“Onslow remains committed to high quality local government,” he said.

Contact Daily News Senior Reporter Lindell Kay at 910-219-8455 or lindell.kay@jdnews.com. Follow him on Twitter and friend him on Facebook @ 1lindell.

Why Pay A Commission?

November 1, 2012 by · Leave a Comment 

Homeowners attempting to sell their home without the assistance of a real estate professional generally do so for one and one reason only: to avoid paying a commission fee. Is it worth it? Only the homeowner can answer that, but experience has shown that many for-sale-by-owners find that it’s not. Before making a costly mistake, consider the benefits, from A-Z, you receive from working with a trained real estate professional:

Advertising-Agent pays all advertising costs

Bargain-Research shows 77% of sellers felt their commission was “well spent”

Contract Writing-An agent can supply standard forms to speed the transaction

Details-Agent frees you from handling the many details of selling a home

Experience/Expertise-Agent knows marketing, financing, negotiations, and more.

Financial Know-How-Agent is aware of the many options for financing the sale

Glossary-real estate professional understands, and can explain, real estate lingo.

Homework-Agent will do homework on how to best market your home.

Information-Agent will know or can get the answer to your questions.

Juggle Showings-Agents will schedule and handle all showings.

Keeps Your Best Interests in Mind-It’s an agent’s job!

Laws-Agents will be up-to-date on real estate laws that affect you.

Multiple Listing Service-Most effective means of bringing together buyers and sellers.

Negotiation-Agent can handle all price and contract negotiations.

Open Houses-Popular marketing technique.

Prospects-Agent has a network of contacts that can produce potential buyers.

Qualifies Buyers-Avoid opening your home to “curiosity seekers.”

REALTOR®-Agent and member of the NATIONAL ASSOCIATION OF REALTORS® who subscribes to a strict code of ethics.

Suggested Price-Agent will do a market analysis to establish a fair price range.

Time-Is one of the most valuable resources in an agent.

Unbiased Opinion-Most owners are too emotional about their home to be objective.

VIP-That’s how you’ll be treated by your agent!

Wisdom-Agent can offer wisdom that comes with experience.

X Marks the Spot-Agent is there with you through the final signing of papers.

Yard Signs-Agent provides professional signs, encouraging serious buyers.

Zero-hour Support-Selling a home can be emotional; an agent can help.

from NCCOAST Homes Magazine, Coastal Coast Edition  May 25-June 29, 2012

 

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12 Things You Should Know About VA Loans

August 27, 2012 by · Leave a Comment 

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Where Does My Earnest Money Go?

March 28, 2010 by · Leave a Comment 

Hey, I gave my real estate agent a $5000 Earnest Money Deposit check… Where does that money go?

A basic and very obvious question that most First-Time home Buyers ask once their purchase contract gets accepted.

According to Wikipedia:

Earnest Money – an earnest payment (sometimes called earnest money or simply earnest, or alternatively a good-faith deposit) is a deposit towards the purchase of real estate or publicly tendered government contract made by a buyer or registered contractor to demonstrate that he/she is serious (earnest) about wanting to complete the purchase.

When a buyer makes an offer to buy residential real estate, he/she generally signs a contract and pays a sum acceptable to the seller by way of earnest money. The amount varies enormously, depending upon local custom and the state of the local market at the time of contract negotiations.

An Earnest Money Deposit (EMD) is simply held by a third-party escrow company according to the terms of the executed purchase contract.

For example, there may be a contingency period for appraisal, loan approval, property inspection or approval of HOA documents.

In most cases, the Earnest Money held by the escrow company is credited towards the home buyer’s down payment and/or closing costs.

*It’s important to keep in mind that the EMD may actually be cashed at the time escrow is opened, so make sure your funds are from the proper sources.

The Process:

  1. Earnest Money is submitted to an escrow company with the accepted purchase contract
  2. At the close of escrow, the EMD is credited towards the down payment and / or closing costs
  3. If there are no closing costs or down payment, the EMD is refunded back to the buyer

Who Doesn’t Get Your Earnest Money:

  • Selling Real Estate Agent – A conflict of interest
  • Sellers – Too risky
  • Buying Agent – They shouldn’t have your money in their account

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What Does Title Insurance Protect Me From?

March 28, 2010 by · Leave a Comment 

By including title insurance when purchasing property, your title insurer takes on accountability for legal expenses to defend your property title, should it ever be challenged.

Many different occurrences can come into play to warrant the need for title insurance.

The title company responsible will then take on the legal expenses to defend the property for as long as you are in possession of an interest in the property under the title.

If the defense is not successful, you will be reimbursed for any loss of value of the property.

Common Things Title Insurance Covers:

1. UNDISCLOSED HEIRS, FORGED DEEDS, MORTGAGE, WILLS, RELEASES AND OTHER DOCUMENTS

2. FALSE IMPRISONMENT OF THE TRUE LAND OWNER

3. DEEDS BY MINORS

4. DOCUMENTS EXECUTED BY A REVOKED OR EXPIRED POWER OF ATTORNEY

5. PROBATE MATTERS

6. FRAUD

7. DEEDS AND WILLS BY PERSON OF UNSOUND MIND

8. CONVEYANCES BY UNDISCLOSED DIVORCED SPOUSES

9. RIGHTS OF DIVORCED PARTIES

10. ADVERSE POSSESSION

11. DEFECTIVE ACKNOWLEDGEMENTS DUE TO IMPROPER OR EXPIRED NOTARIZATION

12. FORFEITURES OF REAL PROPERTY DUE TO CRIMINAL ACTS

13. MISTAKES AND OMISSIONS RESULTING IN IMPROPER ABSTRACTING

14. ERRORS IN TAX RECORDS

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