Real Estate Information

Because of the current lower interest rates, many mortgage experts are advising homeowners to consider refinancing their existing mortgages as a way to

1). decrease the amount of their monthly mortgage payments

2). reduce the duration of their current loan, or

3). provide money for home improvements or other expenses. Interested? Read on…

Before you rush into refinancing your Greenville NC real estate, be aware of two key strategies that will benefit you. The first is KNOWLEDGE. Carefully investigate the pros and cons of different refinancing features such as interest rate, closing costs and fees, and the term of the loan. Determine the purpose of your refinancing and the amount of savings and/or money you hope to gain from it. Examine your personal financial situation--now and in the future--to identify the best option for you.

Since refinancing is all about numbers, you will want to see figures in black and white before beginning the refinancing process. Online sources allow you to input your information re: the amount of the mortgage, the interest rate, the term of the loan, and fees to calculate your monthly expenditures and savings.

Research the advantages and disadvantages of a fixed rate and an adjustable rate mortgage (ARM).  A fixed rate is usually for a term of 15 or 30 years, and the interest rate remains the same for the term of the loan. An ARM means that after 3 or 5 years your interest rate can change (usually going higher). If you are planning to stay in your Greenville NC real estate for only a short time, an ARM may be beneficial for you.

If you currently have an ARM which has a relatively low rate of interest, but you are concerned about future increases, you might consider converting your current loan into a 15 or 30 year fixed rate mortgage. Or, since the difference between a fixed 15 year and a fixed 30 year interest rate is significant, you could save thousands of dollars by shortening the life of your present loan, often with only a slight increase in the amount of your monthly payment.

The second most important strategy is COMPARISON SHOPPING. It is imperative that you compare the rates and terms of several mortgage lenders. Again, online sources such as can provide you with multiple loan quotes. Beware of high refinancing fees or borrowing more than you need. Ideally, you should thoroughly investigate the rates, terms, and features of at least three lenders.

The key to finding the best refinancing situation for you is to obtain and understand your current mortgage information, assess your present and future financial status and needs, and comparison shop. You will most likely find that marketing conditions have made this a perfect time to refinance your Greenville NC real estate, thus allowing you to escape high mortgage payments and/or make financially sound decisions for the future.

Greenville Homes For Sale:

1545 Goose Road, Robertsonville NC 27871

MLS# 97721

• 4 bedrooms
• 3 baths
• Large bonus room
• Built in 2008       Exterior—vinyl
• All bedrooms have ceiling fans
• Walk-in attic
• Great room with bay window, ceiling fan and carpet flooring
• Large kitchen offers lots of cabinets, breakfast bar, dishwasher, built-in microwave, pantry, smooth-top range and recessed lights
• Dining area with chandelier
• Laundry room with laundry sink, cabinet and lots of shelves
• Master bath has bay window, ceiling fan, walk-in closet, and large bath offering double vanity, linen closet, whirlpool tub and separate shower
• Two more bedrooms downstairs with ceiling fans
• Hall bath downstairs has tub and shower combination and vanity
• Bedroom upstairs with ample closet space
• Huge bonus room with ceiling fan and access to walk-in attic
• Upstairs bath has vanity and tub/shower combination
• Lovely deck with railings
• Two heat pumps and central A/C
• Wired storage barn
• Fenced backyard

Learn more about 1545 Goose Road and other Greenville homes for sale by visiting LizFreeman.com, GreenvilleRealEstateCo.com, and HomesofGreenvilleNC.com.

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There are currently 243 Pitt County and Greenville NC foreclosure homes with 29 new foreclosures in August 2010, according to RealtyTrac.com. 1 in every 2,531 housing units received a foreclosure filing in August 2010.

Pitt County & Greenville NC Foreclosure Activity and Home Price Index

Pitt County home price appreciation was .0% in August and there were 29 new foreclosures.

Pitt County foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Pitt County & Greenville NC Foreclosure Geographical Comparison

Pitt County & Greenville NC foreclosures were 0.22% below national statistics and 0.08% below North Carolina figures in August.

Pitt County & Greenville NC Foreclosure Activity by Month

Pitt County & Greenville NC foreclosure activity has been trending dupward over the past 6 months. The number of Bank-owned properties decreased from 24 to 28 in August and one home being sold at auction.

Are you or someone you know behind on mortgage payments and facing a Pitt County & Greenville NC foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation.

Greenville Real Estate For Sale:

1409 Trafalgar Drive, Winterville NC 28590

MLS# 97689

A large front porch welcomes neighbors and friends as they enter this well maintained home with solid hardwood floors throughout the first floor.  Mexican tile flooring in mud room creates a rustic mood.  Durability and easy maintenance are the key words you will appreciate.  Glass window-wall in breakfast room brings the outdoors inside and offers a bright kitchen with lots of countertops and cabinets. The great room offers a gas log fireplace, transom windows and ceiling fan.  EAT OUT!  Charcoaled steaks never tasted as good as when cooked in your own private backyard with large patio and screened back porch.  

Suite retreat…the master bedroom boasts a trey ceiling and a spacious bath with a lavatory on each side of the room for separate access, his and hers walk-in closets,  a lovely whirlpool tub and huge tiled three wall-glassed  shower.  A bath to “spoil you”!   DEMAND LOCATION MAKES “FAST” ACTION A MUST!  Call now!

Learn more about 1409 Trafalgar Drive and other Greenville real estate for sale by visiting LizFreeman.com, GreenvilleNCRealEstateCo.com, and HomesofGreenvilleNC.com.

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Greenville Homes For Sale:

3408 Park Street, Farmville NC 27828

MLS# 95441

LIKE OLDER HOMES?   WALK TO THE PARK OR DOWNTOWN

• 4 bedrooms                   3 baths                     3235 sqft
• Built in 1935          Roof-- 15 years old        Cyclone dog fence
• Located on treed .57 acres with established landscaping
• Kitchen has lots of cabinets, breakfast area, dishwasher, electric stove top, refrigerator,  and large pantry
• Formal dining with hardwood floors, built-in china cabinet and chandelier
• Formal living room with vestibule, wood-burning fireplace and closet
• Family room with exit to large screened porch and staircase for upstairs
• Three bedrooms have ceiling fans and adjoining ceramic tiled baths
• Upstairs bedroom/bonus is 36’ x 12’,  hardwood floors, two closets, access to huge floored attic and adjoining bath with garden tub
• Screened porch with flat rubber roof, ceiling fan, broken tile flooring and new screen recently installed
• Natural gas hot water boiler with radiators and baseboard heat/two window A/C units
• Single car detached garage with concrete floor and work-benches

Call Liz Freeman today to schedule your personal tour of this home.  252-439-4000

Learn more about 3408 Park Street and other Greenville homes for sale by visiting LizFreeman.com, GreenvilleNCRealestateco.com and HomesofGreenvilleNC.com.

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Nearly everyone has heard of someone who has bought a fixer-upper or near-foreclosure house, renovated it, and then sold it at a hefty profit. Sound fairly simple and lucrative? Perhaps, but a word of caution: Don’t quit your day job just yet!

Those who earn an income, either part-time or full-time, by flipping Greenville NC real estate, caution would-be flippers to understand the basics before beginning such a venture, they definitely need to:

• Assess their financial situation

• Have time available to renovate the property

• Possess good negotiation skills

• Have knowledge of what renovation entails and of building codes

• Have a practiced eye for evaluating potential value

• Do a great deal of research to learn about the industry

• Have a good sense of timing

• Find trustworthy advisors, such as an agent, a loan officer, and a reliable subcontractor

Of primary importance is that you have adequate cash available for escrow and loan fees, renovation supplies, subcontractor fees, monthly mortgage payments, insurance, and utility bills. Richard Davis, owner of Trademark Properties and creator of the reality show “Flip This House”, states that he has never seen anyone actually buy a house for no money down. It is also important to note that the FHA requires flippers to hold on to their Greenville NC real estate for at least three months in order to qualify for FHA mortgage insurance. Remember that every day you own the property it costs you money.

Those owners of Greenville NC real estate who wish to flip, far too often have no idea of the actual physical labor and time involved in replacing floors and roofs, installing plumbing, extensive painting, remodeling a kitchen or bathroom, or making major improvements to landscaping. While an owner can hire a subcontractor to do some of the work, that costs money and reduces the amount of the final profit.

Finding the right property is no easy task, either. Just because it is being foreclosed does not make it a steal, and even with a home inspection, problems may not show up until renovation has begun. A potential investor must also beware of being too optimistic about renovation costs or profits.

Time, too, is often of the essence. Once the investor finds a suitable piece of Greenville NC real estate, he must move quickly to obtain a loan, order supplies, hire contractors, complete the renovation, advertise, and sell the house.

So, should someone give up the dream of flipping real estate? Not necessarily, say many experts. They do, however, advise investment property buyers to keep their steady job, with a guaranteed income and health insurance, while they experiment with flipping two or three houses a year. With adequate preparation and a little luck, full-time flipping may just be a possibility for the future!

Greenville Real Estate For Sale:

3704 Bristolwood Court, Grimesland NC 27837

MLS# 97539

First impressions are important! Your wicker furniture will feel right at home on the large front porch as you rock and watch the world go by. When opening the mahogany front door, a gracious impressive foyer cheerfully welcomes any visitor. One will be greeted by elegant woodwork, 9’ ceilings, 8’ doors and solid 4" white oak hardwood floors throughout first and second levels. The home is alive with color and charm, customized with decorative touches throughout. There is a dramatic 13’ coffered ceiling living room with a handmade mantel and a gas log fireplace that radiates hospitality and charm! Serenity is the mood in the large formal dining room that links to a gourmet kitchen. Here you will find a family center that lets the soul of the house shine through. Everything a cook could want—lots of custom handcrafted cherry cabinets, 5 burner Viking gas cook-top, pot filler, granite countertops, decorative tile backsplash, stainless appliances--dishwasher, refrigerator, deep sink and double ovens. There are under and over counter lighting for atmosphere, a breakfast bar and walk-in pantry. A high-tech/high function kitchen designed for people who like to cook and entertain at the same time. A keeping room and informal dining with glassed window-walls off the kitchen were designed for entertaining guest and family while enjoying watching children romp or relaxing as bird watchers overlooking the wooded backyard. Laundry room and garage are conveniently located to kitchen. Who cares if it drizzles? Move the picnic under the covered private back porch. This is definitely a home designed with distinction for today! Call us for your private showing!

Learn more about 3704 Bristolwood Court and other Greenvile real esate for sale by visiting LizFreeman.com, GreenvilleNCRealEstateCo.com, and HomesofGreenvilleNC.com.

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If after exploring all other alternatives such as federal assistance programs, loan counseling and/or modifications, or a short sale, you are still faced with foreclosure, you need to be familiar with that process and what it means for you. The procedure varies from state to state, and your first step is to be aware of the regulations regarding your Greenville NC home.

There are three types of foreclosures used by individual states, judicial, power of sale, and strict foreclosure.

            1. Judicial is allowed in all states. After the lender files with the judicial system, you will receive a notice for payment. After 30 days with no response from you, the property is sold at an auction conducted by the court.

            2. Power of sale, also known as statutory foreclosure, is allowed in many states if your mortgage contains a “power of sale” clause. In this case, the mortgage company, after sending out the required notices and waiting for an established period of time, carries out the auction of your Greenville NC home.

            3. Strict foreclosure is allowed in some states and provides for the property, again after the required notices and time period, to revert directly to the lender. No auction is involved. Usually this type of foreclosure occurs only when the amount of the debt exceeds the value of the property.

If you cannot meet your mortgage obligations, the lender must notify you in writing as it proceeds with each step of the foreclosure process, designed as follows:

            1. Notice to accelerate: Once you are sixty days past due, you will receive a notice to accelerate. The only way to stop the process at this point is to bring current the loan amount past due plus any assessed late fees. You may also be informed that you will be responsible for any attorney fees incurred.

            2. The demand letter: If you do not pay the past due amount by the date previously established by the lender, it will hire an attorney to send you a demand letter stating that, without immediate payment, the foreclosure will be sent to the court.

            3. Notice of default: Without a payment from you, the lender will file a formal foreclosure notice with the court. You will have 20 to 30 days to respond to this judgment before further steps are taken.

            4. The notice of sale: After no response from you in the allotted time period, you will be given a notice of sale which sets the date of the court’s auction or the repossession of your Greenville NC home by the lender.

Greenville Homes For Sale:

2901 Hunters Run, Greenville NC 27858

MLS# 95681

LOOKING FOR A DESIRABLE NEIGHBORHOOD?

Cul-de-sac location means no traffic! This 3 bedroom, 2.5 bath vinyl-sided home needs only a new owner.  Vinyl replacement windows create a cheerful play of sunlight throughout. A family room off kitchen with wood-burning fireplace, ceiling fan, skylight and new sliding doors leading to a deck that overlooks a large sunny lot ready for gardening. Enjoy a dining room with hardwood flooring, new chandelier and neutral colors connected to a formal living room with new carpet. For your convenience, there is an attached garage. The kitchen is like new with breakfast bar, smooth-top range, dishwasher, new sink and garbage disposal. You will appreciate the well landscaped yard with mature trees and shrubbery.  OPPORTUNITY IS KNOCKING. Call us now for appointment to see this exciting buy.

Learn more about 2901 Hunters Run and other Greenville homes for sale by visiting LizFreeman.com, GreenvilleNCRealEstateCo.com, and HomesofGreenvilleNC.com.

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