Bill's Hot Dog Stand was opened in 1928 here in Washington. The original stand's present location is at 109 Gladden Street in Washington, NC.  A second location has been opened in the past few years at the Washington Square Mall.  A few "Bill's Connoisseurs" claim the original location's dogs to be better than the new stand (sort of a large bottle of Coke vs. small bottle of Coke thing). I must say that I have had plenty from both locations and can't discern any difference. I had the pleasure of working for a short while with one of the founder's sons a few years ago, and enjoyed his "hot dog" stories from his youth.  Does he still eat them? Absolutely, and quite a few at the time.

When you enter either of the locations (but particularly the original), the first thing that catches you attention is the ambiance!  The fact that this establishment was founded next to a feed/hardware store is inescapable.  You can almost imagine people coming to town for supplies all those years ago and enjoying a few "dogs" on the return trip home (you can't eat just one / it's a law!). The bottom line is that if you are looking for elegant seating (or seating of any kind for that matter), a diverse menu, or chit-chat, you might want to rethink a visit here.  There will almost always be a line of people waiting and don't be surprised if the person in front of you says something like, "I'll have 20 all the way, 6 with extra chili, 12 with no onions and 1 with just mustard."  My question is, "Who orders a hot dog with just mustard at Bill's?" This person in front of me probably made the mistake of saying that they were going to Bill's for lunch, at work!  While at work, any mention of going to Bill's for lunch brings numerous friends forth, all with orders in hand.

At Bill's, you get your choice of any combination of mustard, onions and chili......or double chili for the adventuresome!  All of the above are applied with wooden paddles and the ladies who work here are "professionals."  Do not attempt this at home!  The very best can toss the onions and catch them with the buns, which are steamed, soft and just right.  It is amazing just how fast the above-mentioned order of 39 dogs can be prepared (large orders can be called in/please do this if you are standing in front of me).  The mustard and onions are pretty self-explanatory, but, unquestionably, it is the cooking and the chili that magically makes it a Bill's Hot Dog.  The dogs are cooked pretty thoroughly to a shriveled state (I'm not a cook and will refrain from offering too much detail) before they are "plated." In this case "plating" means slapped in a bun with the desired condiments. The chili, which is likely quite different than what you are probably envisioning, is a SPICY, proprietary mix that so many people find almost addictive.  My son-in-law, Justin, is addicted and lives about 200 miles away.  Sometimes it takes quite a few during visits to get him fixed up again!

Please take what I am about to say in a positive light.  Bill's Hot Dog Stand enjoys an almost cult following and it's not just from the locals.  All these years of people moving into and out of Washington have created a need for shipping Bill's Hot Dogs to far away places by various methods (by friends and family/not Bill's staff). This happens so often that the ladies at Bill's suggested to me recently that they do not steam the buns for some of these "Trip Dogs."  Recently, my wife and I were having our car serviced at our dealership about an hour away and our salesman, Shawn, started looking around in our car. Acknowledging our puzzled expressions, he said, "I just figured there had to be some Bill's Hot Dogs in here somewhere!"  This was obviously a little nudge that it's time to take him a dozen or so on our next visit.

Well, I've got to go now.  After all of this, guess what I'm having for lunch?

If you know anyone moving to Washington to be nearer to Bill's Hot Dog Stand, tell them about my new state of the art home search website.

Come to see us!

Contact Info for Bill's Hot Dog Stand

WYCC is located on Broad Creek, which is on the Pamlico River
just east of Washington, NC. Broad Creek serves a significant portion of the marina complexes in the Beaufort County area with several boatyards, commercial marinas and one large private marina, in addition to the WYCC. Whether you visit by land or water, you will be impressed with just how well-kept, groomed and tidy everything is. The clubhouse is a beautiful, contemporary brick structure, which was well ahead of its time, when constructed. It sits conveniently between the marina and golf course.  The marina offers a good mix of both open and covered slips to accommodate power and sailing vessels alike.  The golf course is well-groomed and highly respected in this area.  I know individuals who drive past other 18-hole courses in this area for the competitive, yet less intense style of play at WYCC.  If tennis or lounging by the pool is more your cup of tea, WYCC has that covered as well. After a day of relaxation, you might want to retire to the restaurant for an excellent meal in the clubhouse dining room or stop by one of a couple of private watering holes for a cocktail.

All of the above is available for far less money than you would imagine! Click here to learn more about the features and costs of this jewel in eastern NC.  If you are thinking of moving to our area, please visit my website. I'd love to tell you more about some other eastern NC treasures.

Click here for a WYCC brochure. 

Come to see us!

The June 2010 data indicates that existing home sales enjoyed double-digit gains over year-ago levels for the fourth consecutive month.  The June 2010 sales were up 17% over June 2009 levels.  The prices of existing homes are showing stability, as well, with the statewide average increasing 1% to $212,598.00.

The year to date statistics were equally impressive.  Two of the areas that I happen to serve received special mention.  The Washington-Beaufort County area posted a 56% year to date sales growth increase, which was second best in North Carolina to Brevard County's 59% increase.  Greenville tied for the largest price appreciation in the state with a 6% increase.

What does all of this mean for buyers and sellers in our area?  It means that sellers can list their homes with growing confidence. Buyers can expect good inventory, as well as near historic low mortgage rates.  All but the fence sitters stand to win!  

Check out our homes for sale by clicking HERE.

Come to see us! 

I should mention that the lighthouse is accessible only by boat.  If you do not have a boat capable of accessing this area, there are other ways to make the trip. The shortest trip is from Harkers Island, the Gateway to Cape Lookout.  Several marinas, etc. on the island operate "ferries," which are actually open outboard-powered skiffs, to carry passengers to the Cape.  It's a fun boat ride, and the captains often go out of their way to point out areas of interest.  If you are nice, they will even come back after you at your desired time later in the day.  That was a joke.  They hardly ever lose anybody!

Naturally, there are reservations to be made, tickets to be bought and some restrictions.   Click here for a full list of schedules, requirements, etc.  And by all means, DON'T FORGET YOUR CAMERA!  Have fun!

Just this week, I was discussing some of the particulars relating to rent-to-own with Lisa Roberts, a home mortgage specialist with Wells Fargo Mortgage.  First, I should note that there are many different flavors of this type mortgage.  Our discussions related to buyers wishing to rent-to-own for a relatively short period (not 30 years), while building credit to be used as a down payment, improving their credit scores or enhancing their employment position.  Lisa pointed out that there are potentially significant requirements by lenders that should be known sooner than later, regarding the above rent-to-own scenario.  A short snippet of these requirements can be found below:

A down payment derived from a “rent with option to buy” transaction may be used only for the purchase of a primary residence and only if the original lease contained the “option to buy” clause. The present rent must have been in excess of market rents, thereby allowing the difference between market and current rents to be applied toward the down payment. The portion of the rental payment that exceeds the market rent can be applied to the down payment if there is a valid rental/purchase agreement in effect. The file must contain a photocopy of the rental/purchase agreement to verify the monthly rental and the specific terms of the lease. The original term ofthe lease must have been at least 12 months.

Five Percent Minimum
The rent credit can be used for all or part of the down payment. The purchaser does not have to make a 5 percent minimum cash down payment in order for the rental payments to be credited towards the down payment.

Verification
The market rents must be developed by an appraiser or by local rental publications. Copies of the canceled checks or money order receipts must be obtained to document the rental payments for the last 12 months.

While the above is but a tiny portion of the information needed to enter into one of these agreements, it does point out the need for more information. Whether buying or selling, my recommendation is to "measure twice and cut once" when entering into any agreement as important as purchasing a home. Feel free to contact me if you have further questions about this topic.

How can this be, you ask.  You have called an agent and possibly confided in them information that could possibly compromise your negotiations on a particular property.  After the fact, you learn that not only does this agent work for the seller, but also is obligated to make the seller aware of your confidential information.  How can this be?  To borrow from the sitcom, Seinfeld, "Oh, it can be! And, it does be!"

The "obligation" mentioned above is mandated by the "common law of agency," the roots of which originated in the Middle Ages. The hypothetical example above was exaggerated to make you aware of exactly why the NCREC requires every agent to discuss this important brochure with you VERY early in your relationship. Agency related matters dominate the complaints heard every year by the NCREC.

So, what do you need to do to ensure that you do not feel ill-used by an agent?  The short answer is understanding.  You should at least understand "seller agency," "buyer agency" and "dual agency."  Don't hesitate to ask questions about this important subject.  If you are a buyer, hire an agent to provide you "exclusive representation" as a "buyer's agent."  In 99.9% of the cases, this is a FREE service to the buyer because the agent's commission is paid by the seller.  It's a great deal for buyers here in NC. Also, here in NC, any buyer's agent must have a "written" buyer's agency agreement in place before they can write an offer to purchase for you.  Many agents also feel that it is just reasonable to reach this formal agreement early in the buyer/agent relationship.  It signifies a mutual trust in one of life's most important dealings.  Maybe that is why this principle has lasted over a thousand years!

Download "Working with Real Estate Agents" here.

You might also be interested in another ongoing street festival that is presented by the Historic Downtown Washington Merchant's Association called "Music in the Streets."  During these festivities, musicians of varying styles are located along the downtown streets to entertain passers by.  According to reports by our Pulitzer Prize winning Washington Daily News, this venue is becoming both more sought out and recognized by entities outside our area.  

Yet another notable monthly gathering in The Original Washington is the popular "Movies in the Park" series when movies are presented outside in the Downtown Festival Park.  Bring a blanket or folding chair to enjoy these free movies which begin at dusk.  You are encouraged to purchase a box lunch from one of the local restaurants or bring a picnic to enjoy during the film.  There is still a lot of the above entertainment left this year.  See below for dates and times.

Music in the Streets:

Evenings 6PM-9PM
June 18
July 16
August 20
September 17
October 22
December 3

Movies in the Park:

Evenings: From Dusk until
Field of Dreams: June 18
Ferris Bueller's Day Off: July 16
The Eagles Farewell Tour Live: August 13
A Bug's Life: September 17
We are Marshall: October 22

We hope to see you there!

The fun begins again at 5:00PM on Friday, as well, with a full fare of food, arts, crafts and amusement.  In addition to the seafood, hamburgers and hot dogs, specialty and International cuisine will be offered.  And what would a festival be without funnel cakes, smoothies and ice cream? Children from toddlers to 99 will enjoy the "Fossel Search" at the end of the Parkway.  Of course, all the rides will be in full swing. Get a look at the Pamlico from way up high!  Bring your penny loafers, because the Craig Woolard Band kicks off a night of Beach Music from 7:30PM until 10:00PM. Everyone will want to enjoy the fireworks over the Pamlico at 9:00.

Be back bright and early on Saturday for a full day (9:00AM-10:00PM) of the "Fun on the Pamlico." The children will enjoy a visit from Ronald McDonald. All the rides will be rolling, spinning to the amusement of children and adults, alike. Try just a little sampling of the food from all the vendors so you don't eat too much.......at least that's what my wife tells me! The arts and crafts areas will have many items of all types to sell.  How do they do some of this stuff? Don't forget to buy a custom WSF t-shirt.  It's neat to see all of the various designs from years past out in public.  Save a little energy, because Nantucket will be in concert from 7:00 until closing, bringing us a blend of beach, oldies and Top-40 music.  I'm excited!  Meet me there.

Full Schedule of Events

Map of Historic, Downtown Washington

Cable/Satellite/Phone:
CenturyLink (formerly Embarq):  (800) 366-8201
Direct TV: (888) 777-2454
Dish Network:  (800) 823-4929
Suddenlink:  (877) 694-9474
Tri-County Telecom:  (252) 964-8000

Cellular Services:
Sprint PCS:  (866) 866-7509
T-Mobile: 
US Cellular (Recommended Reseller):  (252) 946-1900
Verizon Wireless: 

Garbage Pickup:
David's Trash Service: (252) 923-2742
Pak-R Disposal: (252) 974-1225

Home Inspections:
Advanced Termite, Pest Control and
Home Inspections: (252) 244-6870
First Flight Home Inspections:  (252) 946-1590
Home Inspection Professionals:  (252) 635-1149
Jeffrey L. Mathis Inspection Service:  (252) 714-1809
Squire Home Inspections:  (252) 940-1575

Insurance Agencies:
Allstate:  (866) 621-6900
Beaufort County Farm Bureau (Wash):  (252) 946-0169
Bragaw and Company (Wash):  (252) 946-7151
Edward Ray Edwards Insurance (Wash):  (252) 946-7761
Morris Insurance Agency (Wash):  (252) 946-6151
Nationwide Insurance (Wash):  (252) 946-4208
Sloan Insurance Agency (Wash):  (252) 946-6114
State Farm Insurance (Wash):  (252) 946-5114

Local Newspapers:
The Daily Reflector (Greenville):  (252) 329-9516
The Washington Daily News:  (252) 946-2144

LPG (Propane) Suppliers:
Amerigas:  (252) 943-3547
Blount Petroleum: (800) 642-2008
Etheridge Oil and Gas: (252) 925-4301
Ferrellgas:  (888) 508-4530
Jenkins Gas:  (252) 946-2963
F. Ray Moore Oil Company:  (252) 946-9061
Swain Gas Company: (252) 946-5178
Taylor Oil and Gas: (252) 946-0066
Tidewater Energy: (252-946-6597

Pest Inspections and Control:
Advanced Termite and Pest Control: (252) 244-6870
Clegg's Termite and Pest Control:  (888) 672-5344
Mark's Termite and Pest Control: (252) 940-0300
Orkin Inc:  (866) 949-6097
Terminix Termite and Pest Control:  (866) 244-4661
Turner Pest Control: (252) 975-2497

Utilities:
Beaufort County Water:  (252) 975-0720
Greenville Utilities Commission:  (252) 752-7166
Piedmont Natural Gas:  (800) 752-7504
Progress Energy:  (800) 452-2777
Tideland Electric Membership Corp:  (800) 637-1079
Washington Utilities:  (252) 975-9300

My wife and I recently moved into another home that had some old, but serviceable, HVAC equipment.  This past winter we made the decision to replace an old hot water boiler heating system and the associated central air conditioning system with a single package-unit HVAC system.  The installer talked us into one of the new dual-fuel heat pumps.  This unit utilizes a gas burner for supplemental heat when the temperature drops so low that the heat pump cannot continue to extract heat from the cold air very efficiently.  This burner replaces the electric heat strips that have been used for so long in this application, eliminating the very expensive resistance-type heat.  

When the unit arrived, it looked pretty much like other package HVAC units.  The installation was somewhat different, in that the old 3-wire thermostat and wires were replaced with a 10-wire thermostat and wires to manage the intricate controls of the system.  Exterior temperature probes were mounted on the unit to ensure accuracy.  In the end, my wife and I have been absolutely thrilled with this unit.  It is quiet and dirt cheap to operate.  The register air feels warm, even when running in heat pump mode on a reasonably cold day.  If we bump the thermostat more than a degree or two, the unit switches over to gas mode because it knows we want more heat in a hurry.

There are actually a lot of different very efficient new innovations for heating air, hot water, etc.  The above just happens to be one that I have personally experienced.  My buyer client from a few years ago really knew what he was talking about!

On the Bogue Banks, nestled between the beautiful beaches of Atlantic Beach and Emerald Isle, is the North Carolina Aquarium at Pine Knoll Shores, one of NC's series of public aquariums.  On the eastern end of Bogue Banks, you will find the Civil War vintage Fort Macon State Park, which played a major role in the War Between the States. In addition to its obvious historical attraction, this park offers some great free public beach areas with parking, showers and rest rooms.

Just across the bridge from Atlantic Beach, you will find the port city of Morehead City, which is just another bridge or two from historic Beaufort.  Late in the day, head on down to the docks to see if the fishing fleet had really good luck or just average good luck today.  Have dinner at any of the restaurants that have been fixtures of this area for years and years.

As you travel east on Highway 70 from Beaufort, you are entering "Down East." Here you find the communities of Stacy, Davis, Straits, Marshallburg and one of my favorites, Harkers Island, the gateway to Cape Lookout.  Drive out to Shell Point at the very end of the island and you will get a glimpse of one of the most recognizable maritime landmarks in US, the checkerboard-patterned Cape Lookout Lighthouse. If you have time, pack a picnic lunch and get one of the many ferry services to take you (not your car) to the Cape.  If you are nice, they will even come back after you later!  OBTW, while you are visiting Harkers Island, stop by the Fish Hook Grill (you can't miss it) and get some good seafood.  Tell Miss Faye I love her (she's my mom).

Come to see us!

Recently I stumbled onto some interesting data while watching a local morning newscast on WITN-TV, a local NBC affiliate in Washington, NC.  The foreclosure numbers reported caught my attention as being surprisingly low.  I logged on to the station's website and downloaded the data sheet referenced in the report. Click here to download a PDF copy of the report (I have highlighted the three main areas I serve in yellow).  This report contains the foreclosure data for North Carolina, by county, from 1998 through 2009. Note that the data is indicated not to be verified, which is not surprising to me, given the vast amount of numerical data spanning 12 years.  In any case, this makes for some very interesting reading.  As mentioned above, note the significant number of counties listed, which experienced fewer foreclosures in the past 1-3 years than in the 2004 time frame.

The data contained in this report could not more clearly support the localized nature of real estate.  Contiguous counties are shown here in which one suffered significant increase in the incidence of foreclosure, while the other saw little or no increase at all.

There is no question in my mind that the painting of the real estate market with the "broad black brush" in the past few years has led to unrealistically low offers, frustration and a tremendous waste of everyone's time in some areas. Knowledge is power!  Let's do our homework and go look at some homes.

Come to see us!

This late 19th century Victorian home is a rare find on 2nd Street in the Historic District of Washington, NC, the Heart of NC's Inner Banks. Located approx. 1 1/2 blocks from downtown Washington, this home would make an excellent B&B or a stately single family residence. Walking down the shaded sidewalk, the large wrap-around front porch and antique, wrought iron fencing surrounding the small flower garden area will alert your senses to something special, indeed!  Step into the foyer and into a day gone by, evidenced by a wonderful stained staircase, a sitting area and a pair of ornate, over-sized, stained pocket doors. 

Passing through these pocket doors into the parlor, you will find a beautiful fireplace that is fitted with a stove plate/thimble.  It is finished in subway tile and features multiple mantels with ornate columns. Note that there are six (6) such fireplaces with varying degrees of decorative construction in this home. The number of bedrooms can range from 3 to 5, depending on how the home is utilized.   An apartment with separate entrance, kitchen and utilities is located on the back of the second floor.  The lot is .26 acres, which is large for this part of Washington.

Feel free to call me at 800-693-1120 or Email Me if you have questions.

You can also go to www.222East2ndStreet.info for more information.

• First you will want to select a lender.  You might consider asking for recommendations from your REALTOR®, friends or family.  It's not a bad idea to select several and interview each to make the final decision.
• The second step will be to gather the needed information.  This exact list of needed info might vary a little, but a good place to start is:

• You will need to authorize the lender to pull your credit report(s).  In many cases, this will eliminate the need to supply debt information.

There, that wasn't so bad, was it?  In the majority of situations, you will have an answer on your pre-qualification in an hour or less.

Information was supplied by:

Lisa Roberts
Wells Fargo Home Mortgage
252-943-7742
Lisa.B.Roberts@wellsfargo.com
http://www.LisaRobertsOnline.com

The above website is full of very useful information regarding home mortgages, etc.  Feel free to contact Lisa if you have mortgage related questions.

Contact me at www.WarrenMooreRealEstate.com for your real estate needs.

Few industries have ever changed as much as the home mortgage industry has in the past 2-3 years.  The loans requiring little or no income documentation or no down payments, as well as the ones allowing extremely low credit scores or credit problems........you get the picture.......are going.....going.....gone!  New disclosure policies are challenging mortgage professionals who have been in the business 20-30 years.  Very little about home loans can be assumed anymore.

Based on the above, the prudent individual who undertakes the almost momentary task of loan pre-qualification sets themselves apart from the rest. They indicate that they are SERIOUS, RESPONSIBLE AND QUALIFIED. Does being QUALIFIED guarantee a buyer of getting their loan?  No, that is part of the more extensive application process, but it says volumes more than the alternative! This makes a difference. Many of the better real estate brokers will not spend time working with someone who is not pre-qualified.  Many listing agents now require at least a pre-qualification letter to be included with any offer.  Some listing agents now require buyers to be pre-qualified before showings are approved on upscale properties.  Pre-qualified buyers are just taken more seriously by everyone in the system because they are SERIOUS, RESPONSIBLE AND QUALIFIED.

Pre-qualification is a simple, painless, quick process (see our blog on How to Get Pre-qualified for a Home Loan).  It is worth the time and effort.  Learn just how much home you can buy.  You might learn some things in the process that will really open your eyes to buying that new home!  Don't be surprised when the next agent you talk to asks, "Have you been pre-qualified for a mortgage?"  Be ready to give him/her the right answer!

Contact me if you would like to discuss your home purchase needs with a mortgage professional.

Good Home Hunting!

The town of Washington, which claims the title The "Original" Washington, is about 20-25 minutes from Greenville (city limit to city limit).  There is significant diversity between these two areas, given the difference in population density (Washington:10,000+/Greenville: 80,000+).  As one might expect, the pace of things is a little quicker in Greenville. The drive between these two areas is via Highway 264, a
comfortable, four-lane highway.  Many residents live in one of these areas and travel to the other for work, recreation or both.

The navigable, Pamlico River, which splits Beaufort County, becomes the Tar River at the Highway 17 bridge in Washington and becomes more restricted while meandering through Pitt County and Greenville.  While more pronounced in the Washington area, both of these rivers serve the water recreation-minded portion of the population quite well.  The waterfront in Washington has undergone a major renovation over the past 15-20 years.  The shops and stores on the south side of 1st Street have started to develop attractive store-fronts facing the river.

Greenville is the home of East Carolina University and there is no short supply of "Pirate" fans in this area.  While serving about 25,000 students, ECU offers far more to the community than education.  The support businesses that have been attracted to the area offer shopping, dining and other opportunities that are found in few other areas of eastern NC.  The same is true with the arts and similar functions on campus.  Arguably, one of the greatest benefits to the area is the additions to the medical school at ECU, which now offers significant world-class medical procedures.  Examples of this are cutting edge treatments at the Leo W. Jenkins Cancer Center, Gamma Knife brain (and other) surgery and treatment at the recently opened East Carolina Heart Institute. 

In the end, it was this diversity that captivated our family.  To have all of the benefits of a sizable university city mixed in with the slower pace, peace and quiet of a small riverfront town in an almost seamless manner is a powerful, yet quite unique potion!  

Give me a call.  I'd love to show you our area in person.

We are pleased to offer this beautiful 17.45 acre, wooded building lot in Long Point Landing.  Long Point Landing is a water access community on Blount’s Creek, which offers deep water access to the Pamlico River and beyond.  You will enjoy the community boat ramp, docks, gazebo and more (see photos).  Please note that this property offers access from either Long Point or Bluff Roads.  It also features rolling topography with a small creek running through its south side, which would be a great launcing point for canoes, kayaks, skiffs, etc.  It is a short distance from this property to the Pamlico River.    A natural, well elevated building site has been located on the north side of the property and a septic permit is on file for a 4 BR home.  Or feel free to scout around and find your favorite spot.  There is plenty of room to look.  In short, this property is perfect for horse lovers or anyone just wishing to create their own mini-estate.  Call for more info.  Go to www.99LongPointLanding.info for more information.

This late 19th century vintage Victorian home is a choice find in Washington, NC, the heart of North Carolina's Inner Banks.   At .26 acres, the lot is generously sized, without an abundance of grass to maintain.   The home’s  location, which is less than 2 blocks from downtown Washington, along with its large stylish rooms make it an excellent prospect for a B&B, etc. or a stately single family residence.   The potential of this property is obvious from the front street, given the large shaded area afforded by the ornamental pear trees, the large wrap-around front porch and especially by the ornate iron fencing surrounding the front flower gardens.  A porch swing is provided for those lazy afternoons watching and waving to the neighbors as they pass.  The lovely front door opens to a different era, in the form of this home’s foyer.  It is spacious enough for a variety of furniture and boasts a striking, stained staircase on one side of the room and a pair of over-sized stained pocket doors on the other.  These areas are adorned with special moldings, etc., which are sure to please.  Most of the rooms in this home are large and feature fireplaces (6 total), most of which are finished in a tasteful combination of ceramic tile and wood.  Several offer multiple mantels with inlayed mirrors (note the decorative touches in the pictures).  This property also offers its new owners some very significant options.  In its present configuration, an apartment, complete with bedroom, den, kitchen, bath, separate entrance and separate utilities is located on the second floor at the rear of the home.  There are many variations of how the space in this home could be utilized.  Several of the downstairs ceilings have been lowered slightly to make room for insulation between the floors.  In addition to the obvious utility advantages, the noise dampening between floors is obvious.  Why not come and take a look at this one?  You’ll be glad you did!  Go to www.222East2ndStreet.info for more information.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.