Cookie's News Corner

Welcome to my Corner

The Cuomo/GSE Appraisal Deal Posted 4.8.2008 @ 16:24:56 EDT by cwatson
The Cuomo/GSE Appraisal Deal
Source: NC Assocation of Realtors-The Appraisal Connecton

New York State Attorney General Andrew M. Cuomo, Fannie Mae and Freddie Mac (government sponsored enterprises) reached an agreement on March 3, 2008, to change appraiser selection criteria that will help eliminate conflicts of interest on mortgage appraisals. The agreement has the support of the Office of Federal Housing Enterprise Oversight (OFHEO). There are three main components to the agreement:

-Establishment of the New Home Valuation Protection Code

-Banks will be required to adhere to the Code

-Formation of the Independent Valuation Protection Institute

The requirements will have a significant impact on appraisal practices by lenders as they will have to comply with the new requirements agreed-to by the government sponsored enterprises (GSE) if the lenders sell mortgages to the GSEs. The parties have agreed to get comment and concurrence from the federal banking regulators and HUD, as they move to implement the Agreement and the new Code of Conduct. The GSEs have agreed to implement the new Code beginning January 1, 2009. During 2008, the GSEs will get comments from market participants, and changes to the Code are possible.

Home Valuation Protection Code

A Home Valuation Protection code will be implemented establishing standards on solicitation, selection, compensation, conflicts of interest and corporate independence. Mortgage brokers are prohibited from selecting appraisers. Lenders will not use “in house” staff appraisers to conduct initial appraisals and will not use appraisal companies owned or managed by the lender. The code entitles the borrower to one copy of an appraisal report, free of charge, within 3 days of the closing of the loan.

Banks Will Adhere to the Code

Starting January 1, 2009, GSEs will no longer purchase mortgages from lenders that utilize internal appraisers. Lenders will be required to represent and warrant that the appraisal report was obtained in a manner consistent with the New Home Valuation Protection Code.

Independent Valuation Protection Institute

A clearinghouse of appraiser information will be created, with a separate board of directors, to monitor complaints from appraisers and consumers. All lenders will be required to provide post-purchase copies of appraisal documents to the clearinghouse. Lenders will establish a telephone hotline and E-mail address to receive complaints from appraisers and users of appraisal services on the improper influence or attempted improper influence of appraisers. The Institute will be headed by a Board of Directors with members having no financial connection with Fannie Mae, Freddie Mac, or lenders with whom the GSEs engage.

RELOCATION Posted 4.8.2008 @ 16:12:39 EDT by cwatson
Relocating the right person to the right location is a critical factor in today’s business strategy for companies relocating employees. Spouse and family concerns play a significant role in the decision of the transferee to accept an offer of relocation to a new area.

Being unfamiliar with the area, the employee will need to address such issues as schools, tax rates, average home costs, the distance for recreation and family friendly events. If children are of college age, the ability to qualify for in-state tuition for local community colleges and universities.
Other information might be the fees and occupancy rates for temporary housing mini-storage facilities, elder care and assisted living availability.

Choosing the right real estate agent to help you motivate through the relocation minefield will be one of the best choices you can make. Make sure they have lived in the area for a long time and are familiar with all the needs relocation employees will face. They can be a virtual goldmine of information and assistance.

Mortgage Bailout Posted 12.6.2007 @ 23:25:04 EST by cwatson
Source CNN Money.com

Bush to unveil plan to help homeowners
The plan will freeze certain subprime mortgages for 5 years, a compromise hammered out with mortgage lenders and banking regulators.

WASHINGTON (AP) -- The Bush administration has come up with a plan to help strapped homeowners facing a daunting jump in their monthly mortgage payments.
The proposal, reached in negotiations led by Treasury Secretary Henry Paulson with the mortgage industry, would freeze introductory "teaser" rates on subprime mortgages, preventing them from resetting to higher rates for five years.
President Bush, who is scheduled to announce the agreement after a meeting with industry leaders at the White House on Thursday, has stressed that the deal is not a bailout because no government money is involved.
The effort is aimed at stemming a threatened wave of foreclosures in coming years as 2 million subprime mortgages - home loans provided to borrowers with spotty credit histories - reset from their introductory rates of around 7 to 8 percent to levels as high as 11 percent, adding hundreds of dollars to the typical monthly payment.
The mortgage companies will offer to freeze the loans at the lower introductory rates as long as the borrowers did not miss any payments at the lower rate.
The program is the biggest effort yet to deal with a tidal wave of mortgage defaults, which have piled up billions of dollars in losses for big banks, hedge funds and other investors as well as roiled financial markets around the globe. The defaults are the latest economic blow from the worst housing slump in more than two decades. Some economists believe the housing bust could become severe enough to push the country into a recession.
Is the 'freeze' a good idea?
Two Democratic presidential contenders, Hillary Rodham Clinton and John Edwards, said Wednesday that Bush's proposal did not go far enough. They put forward their own plans that would not only freeze mortgage payments but also declare moratoriums on further foreclosures for a period of time as a way of adding pressure on lenders to reach at-risk homeowners.
The financial services industry applauded the administration for negotiating a plan that will allow free-market forces to operate. The hope is that the five-year freeze will buy time for the housing industry to work down record levels of unsold homes and for sales and prices to start rising again.
A housing rebound would allow homeowners to refinance their current adjustable rate mortgages into fixed-rate loans with more affordable monthly payments.
The big sticking point in the lengthy negotiations was getting investors who have purchased the mortgages after they have been bundled into mortgage-backed securities to agree to accept lower interest payments. Critics have said even with a deal, there are likely to be lawsuits.
"The $64,000 question remains: will investors who might balk at going along with this be able to maintain legal roadblocks and prevent the plan from going into effect?" said Sen. Charles Schumer, D-N.Y.
But officials representing major players in the mortgage industry said they believed the plan would withstand any legal challenges and would help at-risk homeowners avoid defaulting on their mortgages.
Steve Bartlett, president of the Financial Services Roundtable, a trade group representing the country's largest financial service firms, said the deal would benefit banks, investors and homeowners since there is a significant cost when a mortgage is foreclosed.
Under the administration plan, the rate freeze will apply to loans made at the start of 2005 through July 30 of this year and will cover loans that had been scheduled to rise to higher rates between Jan. 1, 2008, and July 31, 2010.
The plan represents an about-face for Paulson, who until recently had insisted the mortgage crisis could be handled on a case-by-case basis. However, he and other administration officials became convinced the tide of foreclosures threatened by the mortgage resets represented such a severe threat that a more sweeping approach was needed.

MARKET CONDITIONS Posted 6.2.2007 @ 23:50:50 EDT by cwatson
Let's see if I can bring you up to date on how our market is doing in Rocky Mount.

At present, we have 1083 homes on the market, giving us about 9.25 months of inventory. Interest rates are still GOOD. Sales are GOOD! It is more of a Buyer's market at the present. Sellers must price their homes more competively to secure a sale. Buyers are shopping around and looking at listings more throughly. They have done their homework searching the internet and bringing in the MLS #'s for homes that they want to view. That means, as Listing and Selling Agents, we must stay informed about our market in terms of listings sold, what is presently on the market and is it priced correctly. Buyers are well informed today.

If you are in the market to purchase a new home, my services include using current MLS statistics on current market conditions. I will explain how you can benefit from increased inventory to get the best price on the home you choose to purchase. Why don't you email or call me today. I can be reached at cookiesells@embarqmail.com or
252-903-3842. It would be my pleasure to assist you with the purchase your next home.
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I NEED YOUR HELP AND SUGGESTIONS!!!

In developing this website, I tried to place myself in my prospective clients shoes. What do I need to search for homes in a city I didn't know anything about? What information would be helpful if I were being transferred? Where can I go to look up useful information? With the ever evolving internet and the changes happening so quickly, I would appreciate any suggestions to improve my website with information that will help you in your search for homes. Just send me an email (cookiesells@embarqmail.com) and I will get with my website developer (my son-Interflex Technologies) and we will put our heads together to see if there is a workable solution for any and all suggestions. If there is, I can assure you, they will be implemented and added to this website. The purpose of this site is to help you and in turn, help me provide the best real estate services in Rocky Mount.

Thanks,
Cookie
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COLDWELL BANKER WATSON PROPERTIES NEW SUBDIVISIONS

We are adding new subdivisions every day. Take a look at these if you are in the market for a new home.

Reservoir living at its best! Waterstone is an exciting new reservoir community offering 63 waterfront and interior lots to homebuyers looking for more than your average neighborhood! Waterstone residents will enjoy boating and waterskiing as well as a swimming pool and tennis facilities. And there's nothing like a sunrise or sunset over the reservoir. These unique homes will be built by two premier local builders, David Smith and Richard Davenport. Lots are approximately one acre and are priced from $46,000 to $116,000. Presently, there are two new homes being built with one under contract. Give me a call for more info 252-903-3842.

Chesney Glen in the Red Oak area will feature homes in the $200,000 to $300,000 range.

Barnes Hill Church Road with homes in the $200,000 range.

Posted 3.21.2007 @ 22:03:12 EST by cwatson
MORTGAGE NEWS


The headlines are once again full of news from the mortgage and real estate front...and this time, the "subprime meltdown" is taking center stage. What exactly is going on, what does it mean to you and your clients, and what should be done now?

A "subprime" home loan is much like it sounds - a loan where the client has some significant credit issues, or was otherwise unable to qualify for a standard, conventional loan. Due to the fact that these loans tend to be quite risky for the lender...they also bear higher interest rates to match, as well as often being adjustable rates that quite likely have recently hiked sky high, not to mention the steep prepayment penalties they generally carry.

These loans have been around for years - so why all the drama now?
Many subprime and other adjustable home loan rates have moved dramatically higher, due to the Federal Reserve Boards recent rate hike cycle. So as these rates are adjusting higher - and the payment right along with it - some homeowners are finding that they are unable to keep up with the dramatic increase in payment.

In the past, homeowners in this situation would simply throw the house on the market, realize enough of a profit to cover any prepayment penalties, and literally move on. But a softer real estate market isn't making this quite so easy any more - houses are not selling quite as quickly, and the fat home appreciation rates enjoyed in the past have moderated.

So the subprime homeowner is stuck - and many of these homes are falling into foreclosure, causing even more problems. As more and more loans are defaulting, mortgage lenders are forced to tighten up their lending standards across the board in response...making it tougher for a troubled homeowner to even refinance to get out of trouble. Many subprime lenders are feeling the pain, and in some cases, actually being forced to close their doors as they are hit with all the defaulted loans and foreclosed properties coming back home to roost.

How does this impact you and your clients?
In the short term, home loan rates are benefiting. The stock market is taking a beating, causing money to flow into Bonds and Mortgage Backed Securities, which benefits home loan rates. But the longer term picture may spell higher interest rates ahead, as lenders have to absorb the cost of the loans that went belly-up, combined with the cost of increased compliance and accountability standards.

Now in many cases, the advice and loan strategy given to the client was perfectly appropriate for the client at the time they took out the loan…but the “perfect storm” of colliding economic events may have just worked against them. Yet unfortunately, many homeowners are paying a very steep price for what may have been poor advice and counsel given them at the time of their home purchase or refinance.

Now more than ever before, it is clear that it pays to work with a true professional, especially when a home is on the line. If you ever thought it's too expensive to work with a real professional...just wait until you work with an amateur. The price paid is clear - and in this case, it's a very painful one.

UPDATE ON SCHOOL REASSIGNMENT Posted 3.6.2007 @ 23:37:23 EST by cwatson
--------------- UPDATE ON SCHOOL REASSIGNMENT----------------
According to The Rocky Mount Telegram this morning, the Nash-Rocky Mount Public Schools Board of Education voted Monday to divide two sets of schools by kindergarten through second grade and third through fifth grade. The division will be Red Oak Elementary School and Swift Creek Elementary School in one district, and Winstead Avenue Elementary and Englewood Elementary in another district. System administration will decide possibly by the end of this month which schools will house which grades.

Please keep checking this website for further updates on schools.

Posted 2.7.2007 @ 22:31:32 EST by cwatson
NEW CONSTRUCTION!!!

Are you looking for a new home?

We, at Coldwell Banker Watson Properties have several new subdivisions that have new construction going up everyday or we have builders that can build you a custom home on one of the lots in the subdivisions.

If you would like more information on one of the following subdivisions, call “Cookie” at 252-903-3842. I will be happy to get the information to you. The following subdivisions are available for new homes to be built now: Carriage Pond, Cross Creek, Morgans Way, Waterstone, Red Oak Hills and Oak Level.
Plus we have an available lot in Fords Colony.

Call 252-903-3842 or email cookiesells@embarqmail.com for your information today.

Posted 2.7.2007 @ 18:41:28 EST by cwatson
How to Select a Realtor or Real Estate Broker

If you are considering purchasing property in which to relocate, where should you begin? Although you are free to search for real estate properties on your own, your best option is to find a professional realtor or real estate broker to handle the transaction for you. If you are a Senior Citizen, look for an agent with the profession designation of SRES. They have the additional training and experience to help with senior related transactions.

There are definite advantages to working with a real estate professional, such as:
• Peace of mind. Real estate transactions can be tricky, and if you do not know what you are doing, you could end up spending more money than you had originally budgeted. Having a real estate professional at your side can help you meet important deadlines and avoid costly mistakes.
• Savings in time and money. Let a professional realtor use his or her experience to save you money by negotiating in your best interest. And you can devote your valuable time to your own business.
• Reduced frustration. Let’s face it, real estate transactions are rarely a walk in the park. Handing over the paperwork to a professionally trained real estate agent can help you avoid a lot of headaches.
But how best to select the right person or firm to represent you and your home search? No doubt the local telephone book is filled with real estate professionals just waiting to be contacted. But if you haven’t used a real estate agent before and do not know where to start, it is helpful to have some general guidelines.

Make sure to choose a realtor or real estate professional who:
• Works full-time. While there are many part-time real estate professionals out there, it is advisable to choose a full-time realtor or agent. If you choose a person who handles real estate transactions only on weekends or a few days a week, you run the risk of missing out on many opportunities.
• Has experience and proven track record. Make sure to pick an experienced real estate professional. Inquire how many real estate transactions he or she typically handles each year. Check out their references. Ask for Testimonials from past clients. The more seasoned the professional, the smoother your real estate transaction will be, so put yourself in the hands of someone who has been around the block.
• Is likeable and trustworthy. As with any other business relationship, your realtor should be someone you feel comfortable with. He or she should be confident, easy to talk to, and trustworthy. This person will play a large role in the future of your business, so make sure to engage someone who has a clear understanding of your home finding goals.
• Is Internet savvy. As with most other businesses, the world of real estate has moved onto the Web. These days, it’s all about how fast you can find a property, so make sure to go with a real estate professional who is comfortable using the Internet.

CREDIT CHECKS Posted 11.16.2006 @ 0:38:10 EST by cwatson
WHAT IS YOUR NAME WORTH?



Your name is worth everything to you as a business person…it’s your brand, your identity…its YOU. But did you know that your name – and your client’s names – are worth quite a bit to other people as well, in a very unexpected and somewhat disturbing way?

Here’s breaking news you need to know…and you need to let all your clients know right away as well.

Having credit checked is an important and necessary step in the home buying process. But very few people realize that each time their credit is checked, the “inquiry data” that the credit bureaus (Equifax, TransUnion, Innovis or Experian) have on file have now become a commodity. This information is now available for sale to other lenders…but also to companies that sell and resell the same names and personal information.

That’s right – the credit bureaus have found a way to increase their revenues at your expense….and without your permission. These “inquiry leads” include name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, age, gender and estimated income. They are marketing personal, confidential information to competing creditors…and making millions. Your privacy is being sold, not just once, but over and over again.

The lenders that have purchased these leads at a premium will then do everything they can to recoup their investment and turn a hefty profit. And quite often, sneaky bait and switch tactics are being used to lure clients away from their reputable lender. Clients have even been called by disreputable lenders and told that the lender they had been speaking to previously “passed on” the client information to them, because they knew that they’d be able to offer much better interest rates and terms. Ouch!

The good news is that you can make it stop – for yourself, and for your clients. And what a great, valuable service you’ll provide by simply forwarding this email on, or making copies of this article and giving to all of your clients and prospects.

The consumer credit reporting industry has provided a way to “opt out” and remove your name from these lists. You can contact them by phone at 1-888-567-8688 or online at www.optoutprescreen.com. Your clients must opt out at least 48 hours prior to having your credit checked to make sure it is processed in time. You can choose a five year or lifetime option, and the lifetime option does require a signed form. If a credit report needs to be run prior to the 48 hour waiting period – at least your clients are aware and informed, and can be on the lookout for suspicious phone calls or mailers from someone who has purchased their data.

BONUS: Opting out will also protect you and your clients from “pre-approved credit offers” arriving via mail…one of the leading causes of identity theft in the US.

Clients certainly have the right to shop for the best professional to meet their lending needs – but this should be done when and how the client chooses to look around, not being done without permission. These unsolicited marketing tactics are a nuisance and intrusive, but unfortunately quite legal. Take your privacy back. Inform your clients, so they can take their privacy back too. Take five minutes right now – opt out, and pass it on. Refuse to be a part of this system.

Information provided by CTX Mortgage

Posted 9.9.2006 @ 0:56:51 EDT by cwatson
BOOMERS ARE MAKING NORTH CAROLINA THEIR SECOND HOME

WHY?

With over approximately 3000 miles of beach shores and available protected shore lines, people are moving here from the North and South. North Carolina’s coastline measures 484 km (301 mi). The tidal shoreline, which includes islands, bays, and river mouths, stretches for 5,432 km (3,375 mi).


Higher taxes and insurance rates in the Northern and Southern regions are sending Buyers to North Carolina.

Rocky Mount is 2 ½ hours from the coastal beaches and 4 ½ hours from the mountains. We have moderate climate year round and many tourist attractions for the family.

New developments featuring condos and single family dwellings are being built off the Pamlico Sound, the Pungo River, the Belhaven area and Pantego area. The Pamlico River provides direct access to the Intracoastal Waterway, the Pamlico Sound, and ultimately the Atlantic Ocean. The Intracoastal Waterway is a protected waterway that connects commercial and leisure boaters from Maine to Miami. Rocky Mount is about a leisurely 2 hours drive from each. The intercoastal water way is easily reached from either destination. Fishing in the sound and the gulf stream has never been so easy. With numerous marinas for docking your boat or yacht, you are only hours away from your home.

Give me a call 252-903-3842 or send me an email cookiesells@earthlink.net for more information. I will be happy to send you information about North Carolina’s beaches and new developments.

Relocation Posted 9.8.2006 @ 23:56:07 EDT by cwatson
Relocating the right person to the right location is a critical factor for companies relocating employees. Family concerns play a significant role in the decision of the employee to accept a transfer to relocate to a new area.

Being unfamiliar with the area, the need to address such issues as tax rates, average home costs, schools, recreation and the arts can affect the ease with which a family can move to a new location. The transferee needs as much information as possible to make the relocation an easy process for the entire family.

I have tried to provide that information here on my website. Check out all the links included on this site. A few of them are for schools, taxes, hospitals, Chamber of Commerce and air ports. There are many more, so just go to Local information and click away.

Please let me know if there are things I have not included that you need by sending an email to cookiesells@earthlink.net. I will get it to you ASAP.

Also, I will be happy to assist you in your "new" home search.

Homes to Sell! Posted 9.8.2006 @ 23:22:27 EDT by cwatson
I NEED SOME NEW LISTINGS TO SELL!

If you have been thinking of selling your house, CALL ME!

I have sold just about all of the homes I have listed and need new listings to offer to Buyers. MY LISTED HOMES SELL!

If you need your home SOLD, call me at 252-903-3842. LET'S TALK!

I can offer you exclusive marketing for your home featuring lots of detail and many pictures so Buyers can get a feel of what your home has to offer them.

Don't delay in making that call, the next Buyer to check this website could be Your home's Buyer.

UPDATE 4/09/2006 Posted 4.9.2006 @ 22:54:52 EDT by cwatson
THANK YOU FOR VISITING MY NEWS CORNER!!!


It is April 9th here in North Carolina. The trees have blossomed and the daffodils are blooming. The sound of birds singing is wonderful to hear. Spring finally arrived and our temperature here went to 84 degrees.

I truly do not know where to start. This page was last updated in November.

THANK YOU!

I guess I will start by thanking all of my loyal clients for their business last year. They helped, again, in making ME a MULTI-MILLION DOLLAR PRODUCER. Coldwell Banker Watson Properties had a great year in 2005. We sold over 40 Million Dollars in Residential Real Estate with only 10 full-time agents and 2 part-time agents. We achieved outstanding results for our clients and will continue to strive for that high level of professionalism throughout 2006. So, give us a call! We would like to demonstrate to you the same standard of excellence in helping to find your new home or to sell your present home. CALL COOKIE @252-903-3842.

ROCKY MOUNT NEWS!

Now, let’s move on to the exciting Rocky Mount news.

I am sure you recall seeing on all the national news media in 1999 our flooding with Hurricane Floyd. The last and biggest reminder of that horrible time for Rocky Mount is being demolished and removed. Tarrytown Mall, Eastern North Carolina’s largest mall, was flooded by Floyd. It has been a long process for the city to find a company that would remove the mall and rebuild on that site. Many applicants wanted the site but, for one reason or another, the projects did not come to fruition. Now comes Sam’s Club! They have purchased the property, started demolition and will build Sam’s Club with other visible out-parcels on that property. The citizens in Rocky Mount are very grateful and hopeful that Sam’s Club will vanquish all memories of the “flood”.

Also, we have several new restaurants locating in Rocky Mount.
In the vicinity of Nash General Hospital at the interchange of HWY. 64 and I-95, the construction has begun on a new Cracker Barrel and a new Butcher Shoppe. There are many areas with new construction, including the area in front of the Home Depot, Creekside Crossing. New out-parcels for businesses and restaurants are being built. It was announced today the Chili’s will be locating there. This is an exciting time for Rocky Mount. We are growing!

NORTHGREEN COUNTRY CLUB!

Attention all golfers! Northgreen Country Club has reopened with new ownership. Wayne Holloman, Charlie Sechrist and Andy Sechrist purchased the country club and opened it to golfers on February 27, 2006. They have indicated that the golf course will be returned to the level it was when the Atlantic Coast Conference Golf Tournament played there during the 10 years in the mid-1970s and 4 years in the early 1990s. They have been very pleased with the level of support and positive feed-back from the community.

FORD'S COLONY!

Recently, the DAR Club was afforded the opportunity to hear from Diane Clarcq, assistant sales manager of Ford’s Colony. She gave the members a brief history of Richard Ford, developer of Ford’s Colony-Rocky Mount and the arrangements he made to purchase the area surrounding Belmont Farms subdivision to create Ford’s Colony-Rocky Mount. One of the signatures of Ford’s Colony-Rocky Mount is that anyone who purchases a lot automatically becomes a member of the Country Club. All residents will be able to take advantage of the fiber optic infrastructure which will provide high speed internet, digital cable, an upgraded telephone system and a home security system package. Ms. Coarcq stated that eighty percent of Ford’s Colony clients are from out of state and represent 12 states as far away as California. Twenty percent of the buyers are local residents. Rocky Mount was selected for the development because it has a four-season climate, is a day's drive from New York and Florida "to see the grandkids" and is a "good, clean Southern town that doesn't have the traffic, and people are friendly." Rocky Mount is close to the coast, the mountains and Raleigh.


IMPERIAL CENTRE OPENED IN JANUARY!

The Imperial Centre will house the Rocky Mount Arts Center, the Rocky Mount Children's Museum, and the Playhouse Community Theatre. These institutions lost their facilities in the flood following Hurricane Floyd in September of 1999. The new
$30 million, 30,000-square-foot cultural complex, located across the street from the new Braswell Memorial Library, will incorporate the old Imperial Tobacco Factory and old Braswell Library buildings, both on the national register of historic buildings, and will also include a newly constructed theatre. The very complicated adaptation of these buildings according to preservation guidelines will create a truly unique complex, and a wonderful setting for the Children's Museum's hands-on science exhibits and programs, with a 50 seat digital planetarium - the only digital planetarium in North Carolina, and for the Arts Center's community theatre, art galleries and other programs. The Main Stage Theatre features local and traveling productions that range from the best of Broadway to nationally known musical and theatrical performers.


ROCKY MOUNT SPORTS COMPLEX!

A division of the Rocky Mount Parks and Recreation Department, the Sports Complex will provide facilities for recreational programs such as baseball, softball, soccer and football and other field sports. It will serve as a venue for local, state and national sporting events.
Once complete, The Rocky Mount Sports Complex will be one of the largest sports complexes on the entire eastern seaboard. The facility will operate during ten months of the year with the other two months earmarked for general maintenance and upkeep on the facility. During weekdays, the fields will be used by Parks and Recreation Department programs and local leagues. On weekends they will play host to Tournament action, bringing some of the best local, state and national sports talent right here to Rocky Mount.

CONCLUSION!

I think this brings you up to date on the happenings and events in Rocky Mount. Again, thank you for taking time to view my website and I hope that I have entertained you with news in my home town. If you have any questions about real estate or are searching for a home, please give me, “COOKIE”, a call at
252-903-3842. I will be happy to assist you in your search for a new home in Rocky Mount.

Thank you for visiting my website & newspage. Posted 11.13.2005 @ 21:16:36 EST by cwatson
Dolly Parton livens up groundbreaking at the Crossroads Music and Entertainment District.

According to an article in The Rocky Mount Telegram, Dolly Parton paid a visit to Roanoke Rapids, NC. The dirt and grass field off Exit 171 of Interstate 95 was teeming with politicians and country music stars.

The dignitaries broke ground on a $129 million entertainment complex that Dolly’s brother, Randy Parton is launching. It carries the promise of an economic windfall for the surrounding region.

Comprising over 750 acres, the music and entertainment complex will feature a hotel, restaurant, retail shopping areas and waterfront promenade. The centerpiece will be the Randy Parton Theater, which will seat over 1,500 people for the hosting of concerts featuring country, pop, beach and gospel music.

Representatives of Roanoke Rapids and Halifax County joined state officials in groundbreaking ceremony. They lauded the development as a “great endeavor at a country crossroads” that would become a prime hot spot and veritable monument for this part of the state. Randy Parton’s hope is to follow the lead of his family’s similar ventures in Branson, MO., and Pigeon Forge, TN., such as the theme park “Dollywood”, which have become off-the-beaten-path successes for tourism and family entertainment.

For the thousands of people who skipped work, school or other obligations to be there, all they really wanted to see was “Dolly”. She arrived in a bright orange outfit, trimmed in gold, with a pair of dangling, gold hoop earrings. The star’s infectious, bubbly laugh spilled out with her first trip to the microphone.

Dolly joined other country music legends, Jeannie Seely, Ray Pillow, Jim Ed Brown and Helen Cornelius, in renditions of “God Bless America”, “The Star Spangled Banner” and the country gospel classic, “I Saw The Light”.

NEW SUBDIVISION GRAND OPENING Posted 11.2.2005 @ 23:16:35 EST by cwatson
CROSS CREEK SUBDIVISION KICK OFF PIG PICKIN!!!!

On Tuesday, November 1st, Coldwell Banker Watson Properties and Kingsmill Homes had the Grand Opening of the new subdivision "Cross Creek". These new homes are located 10 minutes from Rocky Mount in the Nashville area. They feature open floor plans, 3 bedrooms, 2 baths, with tile in the master bath, fireplace with gas logs and whirlpool tubs.
These homes start in the $120's. Great value, good location! Be one of the first to own your new home in this nice subdivision. There are four new homes available now for you to choose from.

Call COOKIE at 252-903-3842 if you would like more information on these lovely homes or email at cookiesells@earthlink.net

Thank you for viewing my news page. You can bookmark this site and continue to use it for your real estate news resource.

Update Posted 9.8.2005 @ 0:13:39 EDT by cwatson
HAVE YOU HEARD THIS?

North Carolina was recently been designated as the 3rd most favorable state in which to relocate. Florida came in 1st, Arizona came in 2nd and North Carolina took the 3rd place rating from retirees and seniors looking for a new place to relocate. Our nice weather, wonderful seashores and mountains, along with the many cultural activites available have been drawing many "Northern" people to our "Southern" area.

You too, could be one of the many people moving to North Carolina. If you are interested in information on relocating to our area, just email me for a relocation packet at cookiesells@earthlink.net. Please include your mailing address and I will be happy to send you the information.

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High Credit Score = Low Mortgage Rate

Credit scoring was developed in the 1960s as a means to determine whether or not consumers were likely to repay their loans. The score ranges from 300 to 900 with a higher score being extremely favorable. Most people have a score between 400 and 800. Essentially, a high credit score translates into lower interest rates for the borrower.

There are five factors that comprise the credit score. Payment history accounts for 35% of the score; outstanding credit balances have a 30% impact; credit history makes up 15%, type of credit factors at 10%; and inquiries influence the score by 10%. This gives the lender a snapshot of an individual's sense of financial responsibility and ability to pay back loans.
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Interest Rates Change Daily

Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor to watch is the relationship between stocks and bonds.

When the economy is slow and the stock market is "bearish," many investors move money out of stocks and into bonds and mortgage-backed securities. This causes mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered "bullish." Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.

Update Posted 7.17.2005 @ 23:31:40 EDT by cwatson
Hello again! Thank you for stopping by to read my News Corner.


We have some interesting things going on in the area and new people moving here everyday.

I hope to make you one of our new Rocky Mount transplants.

If you are searching for new construction, check out Coldwell Banker Watson Properties new listings in the following subdivisions: Carriage Pond, Cotton Wood, Tharrington Road, Old Carriage Farm, Coley Road, Red Oak Hills and Cross Creek
Don't miss out on this rapidly growing subdivisions.

I am certain that we have a home in your price range that will suit your needs.

Give Cookie a call at 252-903-3842 or email me at cookiesells@earthlink.net. I will be happy to assist you in your
search for a new or existing home.

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Items of Interest-Identity Theft

Identity theft is becoming an enormous problem through no fault of consumers. Large institutions including Visa, MasterCard, and Citibank have all fallen victim to breaches in security in recent months. In fact, when customers call the Citibank customer service line, the first voice prompt they hear involves reporting identity
theft. In one incident alone, forty million credit card accounts were exposed to potential fraud when CardSystems Solutions, a payment and credit card processing company, failed to secure their network properly.

Thirty-two states are considering the implementation of security breach notification laws, while congressional leaders examine identity theft prevention measures. If you believe you have been the victim of identity theft, visit the Federal Trade Commission's website. There you will find information regarding how to
protect yourself (www.consumer.gov/idtheft/).

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According to the Rocky Mount Telegram, entertainer Randy Parton, brother of Dolly, has signed with a private developer and the city Roanoke Rapids to build an entertainment district along Interstate 95, about 45 minutes from Rocky Mount.

The proposed opening in 2007 of the 35,000 square-foot, 1500 seating Randy Parton Theater will anchor an entertainment district that will host Grand Ole Opry performers and county, pop, beach and gospel music concerts.

The first phase will encompass 116 acres along Interstate 95 at exit 17. The concept is to build a theater and entertainment complex that is similar to Branson, MO. The complex will eventually grow to more than 700 acres.

With Rocky Mount being approximately a 45 minute drive to the proposed complex, it will certainly enhance the occupancy of the 3000 hotel rooms throughout the city.
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Driving Down Auto Expenses

Despite high costs at the pump, millions of Americans will be taking to the roads this summer.

Here are some driving tips which will improve your fuel economy:

Obey speed limits. Gas mileage decreases significantly once you exceed 60 mph.

If you stop your car for longer than one minute, turn it off. It takes less gas to restart it than it does to leave the engine idling.

Make sure that everything that's inside your vehicle needs to be there. Do not transport extra weight needlessly.

Lastly, be sure your vehicle receives regular maintenance. Changing the oil, checking tire pressure, and having a clean air filter will all lead to better vehicle performance and lower overall maintenance costs
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What Are Closing Costs Posted 7.2.2005 @ 0:08:27 EDT by cwatson



What Constitutes Closing Costs?

Closing costs are expenses that cover fees associated with the transfer of property ownership, fees paid to state and local governments, and the costs of obtaining a mortgage loan. Some of these fees are negotiable, and could be paid by either the buyer or the seller. Some costs are one-time fees (non-recurring closing costs, such as title search, termite inspection, appraisal, etc.); while other fees such as homeowner's insurance or property taxes are things you will expect to continue to pay on a regular basis as a homeowner.

As part of the loan selection process, your mortgage consultant should be giving you some idea of how much money you should have in reserve to cover your end of these costs. The Real Estate Settlement Procedures Act (RESPA) requires the lender to provide you with a Good Faith Estimate within three days of the submission of your loan application.

RESPA also states that as a home buyer, you have the legal right to request a copy of the HUD-1 Settlement Statement 24 hours before your closing is scheduled. The HUD-1 clearly defines all closing costs, including those that are to be paid by the buyer and the seller. It's a good idea to have both of these forms before your closing so you can compare the estimated costs to the actual costs before you finalize your transaction.

LOCAL NEWS Posted 4.25.2005 @ 22:56:45 EDT by cwatson
LOCAL NEWS!!!

According to our local paper, The Rocky Mount Telegram, early sales for Ford’s Colony have been outstanding. All but 15 of the first 135 lots have sold. Prices for lots in the 1000- acre luxury development have ranged from $55,000 for interior lots to $210,000 for lots on the golf course and lake.

Ford’s Colony is planning on a $250 million capital investment for the development of these luxury homes and golf course on the private lake.

If you are planning to retire in the foreseeable future, this is an excellent place to relocate and invest your retirement earnings. Give Cookie a call at 252-903-3842 for more information on this lovely community.

GREAT NEWS Posted 2.3.2005 @ 0:57:54 EST by cwatson
We at Coldwell Banker Watson Properties had a great year in 2004. Our total sales were over $37,000,000 in residential sales and we are starting out with 2005 being an even better year for our Company and Agents.

Our excellent service and professionalism for our clients is exemplary. Whether a client is looking to purchase a Rocky Mount home or to sell a Rocky Mount home, our professionalism is a step above what is expected.

If you are looking for an Agent that is an internet professional, responds quickly to your emails, anticipates your needs and expertly handles your transaction from start to finish, give Cookie a call at 252-903-3842 or email me at cookiesells@earthlink.net.

Just Remember This-
Experience Isn't Expensive---It is Priceless!!!!!