Great Article About Second Home Market

http://www.cnbc.com/id/29553813/

Buying a Bank Owned Property in The High Country

FORECLOSURES, BANK OWNED PROPERTIES, SHORT SALES!!!

The above mentioned terms seem to be on the minds of every Buyer, Seller, and individual interested in real estate these days. The buyers are looking for that “Great Deal” and the sellers are trying to compete with the hot topic in real estate. In reality, there are a lot of good deals available in the market now. Every area/market is truly different and here in the high country we are finally seeing an increased amount of Foreclosures and Bank Owned Properties.

This reality is giving great opportunities to current Buyers. They now have a chance to buy a home, piece of land, or condo in the High Country at prices seen years ago or possibly cheaper than they have ever been seen. Our firm has taken the initiative to try and view each and every Bank Owned Property in our 5 County area and we are amazed at the deals that can be picked up.

As more and more of these homes become available, buyers will have the chance to buy a second home, retirement home, or investment property for pennies on the dollar and may can cash flow as a vacation or long term rental. What this does is allow futurere retirees to buy a home now, put it in a rental program and possibly own their home fore several years before they move into it full time. Couple that with historically low interest rates and now is one of the best times to buy, for the long term. Those days of buying, flipping, and making a profit are long gone. But if you are serious about buying a home in the mountain. Now is a good time to at least start looking.

We will continue to post Blogs as we monitor the market and follow the actions of the banks that are foreclosing on these properties. If you have any questions feel free to give us a call anytime, or visit our website to view available Bank Owned Properties in the luxury of your home.

Thanks,

Jon Gatewood, e-Pro

Broker/Owner of Mountainscape Realty

www.MountainscapeRealty.com

www.HighCountryForeclosures.com

What you should know about Radon when buying a Mountain Home.

Radon is a radioactive, colorless, odorless, and tasteless gas.  It is formed as natural deposits of uranium throughout the earth’s crust decay.  As radon decay products are inhaled, they can alter the cells in the lungs.  These alterations can increase the potential for getting lung cancer.  Radon is the second leading cause of lung cancer behind smoking.  An estimated 14,000-20,000 people die of radon related lung cancer each year.

The amount of radon in a building is dependent upon several factors.  These factors include the geology, a driving force, pathways into the building, and the ventilation rate.  Radon is transported to buildings more easily through permeable soils.  Radon can enter the building through man y paths such as cracks in the foundation, utility penetrations, sumps, and floor drains.  The ventilation rate of the building affects the final radon concentration.

You can’t see radon, but it is not hard to find out if you have a radon problem in your home.  All you need to do is test for radon.  Testing is easy and can be done with a “do it yourself” kit or by a qualified licensed professional.  If radon is found to be above the acceptable level, a Mitigation Contractor can install a system to solve the problem.

Other Helpful Information:

Cost:

Radon Testing:  $125.00

Radon Mitigation:  $1200-$2000  Average cost $1400

Cost information gotten from Gary Long, Quality Pest Control

Websites:

www.njradon.org

www.epa.gov/radon

Contributed by:

Mountainscape Realty

336-846-8977

If There Was Ever A Time To Buy

Recent news about changes to the Federal Tax Code may make your decision to buy a second home or investment property a little easier. Check out the following article and feel free to contact us about how we can help you secure your dream mountain home before the end of the year.

Tax Crackdown on Second Homes

Available 7 Days A Week.

Jon Gatewood, Owner

Mountainscape Realty

336-977-0756

Jon@MountainscapeRealty.com

Introduction to Septic Systems

When building in the mountains and especially in rural areas. Many property owners when they get ready to build have only one choice for wastewater treatment, a private on site septic system. These systems treat and dispose of the waste water from a home. Typically these systems can fit on an average lot size of at least .5 acres and range in cost from $2,500 to $5,000.  Of course costs can vary on the size and type of system that needs to be installed.

As you look for land to build your mountain home on, you should always consult with your real estate agent or the seller about the feasibility and costs associated with obtaining all the necessary permits needed to build a home on that land. These permits are commonly called “Perc Permits, Septic Permits, or Improvement Permits.” You should always obtain one of these permits before you make your purchase of the property. The standard NC Association of REALTORS Offer to Purchase of Vacant Land makes provisions for adding a contingency to the contract for Septic System Approval.

Many times sellers will go ahead and obtain a septic permit for the property before they put it up for sale. This streamlines things a lot, however you the buyer need to make sure that the site that the county has approved the septic system for is where you would like to build your home. Septic permits are usually site specific and if you want to build the home somewhere else, move the driveway, bury an underground fuel tank (i.e. propane), or add a water feature, this may contradict the septic system design approved on the permit.

I will talk more about septic permits in upcoming posts but for the meantime I will supply some helpful links listed below:

EPA’s Guide on Septic Systems- http://www.epa.gov/owm/septic/pubs/homeowner_guide_long.pdf

Wikipedia’s Definition- http://en.wikipedia.org/wiki/Septic_tank

How Stuff Works- http://home.howstuffworks.com/sewer2.htm

If you would like to talk to me about buying property in the mountains of North Carolina, feel free to contact me any time,

Jon Gatewood, Broker/Owner

Mountainscape Realty

336-846-8977

Jon@MountainscapeRealty.com

www.MountainscapeRealty.com

Welcome to the Mountainscape Realty Blog.

This blog has been created to help educate buyers in the process of purchasing both land and homes in the mountains of North Carolina. While these tips can be used in many different markets, they are specifically focused on buying property in the NC Mountains.

Some of the topics to be discussed:

• Purchasing Land
  • Septic Permits
  • Wells
  • Financing Your Purchase
  • Infrastructure (Power, Phones, Roads, Ground Water Control)
  • Building Homes on Different Topographies
• Purchasing Homes
  • Pros vs. Cons of Log Homes, Modular/System-Built, and Stick Built Homes
  • Maintenance for Log Homes
  • Building Costs
  • What questions to ask builders when thinking of building?
  • Costs of Construction
  • Financing a Second Home
• Market Updates

We will also be available anytime to answer any questions or concerns you may have about purchasing property in the North Carolina Mountains.

Jon Gatewood

Broker/Owner

Mountainscape Realty

www.MountainscapeRealty.com