sandhills real estate september 23, 2011
DESCRIPTION
Sandhills Real Estate September 23, 2011TRANSCRIPT
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©2011 Prudential Financial, Inc. and its related entities. An independently ow
ned and operated broker mem
-ber of Prudential R
eal Estate Affiliates, Inc., a Prudential Financial company. Prudential, the Prudential logo
and the Rock sym
bol are service marks of Prudential Financial, Inc. and its related entities, registered in
many jurisdictions w
orldwide. U
sed under license. Equal Housing O
pportunity.
Get the free m
obile app athttp://gettag.m
obi
Search PRU ID #
S
Gouger O
’Neal
& Saunders
Real Estate
Under
$300,000!
143475PRU5D4X7Bright &
Airy! G
olf Frontcond
o. Afford
able
& Wond
erful! 3BR/3B
A.
$179,000Pat K
oubek
910.215.2869 910.692.2635
141565PRU5K3U4Whisp
ering Pines A
rea:Open
Plan,
3BR/2B
A, 1800sf,
1/2 acre.
$185,000Eva To
ney 910.638.0972 910.295.5504
LONGLEAF C
C
REDUCED
ACREAGE & HOUSES
ABERDEEN
13835017+
/-Acres, Lovely P
ond & 3 H
ousesbeing
sold
"As
Is" - Call
for details…
.PRU3W
4B3
Mary Jo
e Worth
910.695.5430
143778 PRU5D8U2Updated
Brick R
anch;3BR/2B
A, G
ranite Ktchn, 2100sf, w
orkshop.
$189,900Nettie C
alfee 910.315.6225 910.295.5504
$172,000 PINEHURST3BR-2.5BA. A CottageStyle Home in the Village!Amazing Gardens, WrapAround Porch, PavedDrive, Fenced Backyard &terrific Storage. Must See!
$190,500 PINEHURST3BR-2BA (1800+sqft) FullyLoaded! Fireplace, sky-light, new paint, new car-pet, new heat pump,Formal DR , Privacy Fence& Screened. Porch. MLS#143668
$198,000 WHISPERINGPINES! 3BR-2BA. NewerHome w/split floor-plan,Carolina Room, ½ acre cor-ner lot, side-entry Garage,RV Hookups, Storm Cellar &lg Workshop.
$209,900 WHISPERINGPINES (Princess Gate).All Brick 3BR-2BA inMove in Condition! Bonus/Recreation Room, SCRPorch & FULL walk-outBASEMENT! Farm LifeSchools!
$259,500 CAROLINALAKES! 3BR-2.5BA w/GOLF VIEW! HUGEBONUS RM, Sep. Study &Formal Dining Rm. SecureGated Community w/Lake,Golf, Pool & Tennis.MLS#141076
(910) 295-1600Visit www.SellersHomes.com
Commissions arenegotiable
and not set by law.
We’ll Sell Your Home for $2,995!
LOCATION! LOCATION! LOCATION!Holly Membership to the Mid South and Talamore Golf Clubs included.
Private Camden Villas Clubhouse features fitness center & great room for entertaining. Amenities galore! Prestigious Arnold Palmer Signature Golf Course
surrounds Camden Villas. Pricing beginning at $299,900!——————————————————
Call Mary Wilson-Wittenstrom, Broker for additional information orto schedule an appointment.
910-724-9555 office 910-783-7002 cell www.camdenvillas.net
GREAT PR ICE IN JAMES CREEK
109 Pettingill Place – Reproduction of1700 Rhode Island home sits high on1.2AC cul-de-sac lot, 4BR/2.5BA, 5 fire-places, private master suite, lovelymoldings, hardwood floors, large cus-tom kitchen. $339,900 MLS#144391
JJOOIINN MMCCDDEEVVIITTTT SSOOTTHHEEBBYY’’SSOOUUTT AANNDD AABBOOUUTT IINN
PPIINNEEHHUURRSSTT TTHHIISS SSAATTUURRDDAAYY!!OOPPEENN HHOOUUSSEESS FFRROOMM 33--55PPMM::
305 Juniper Creek Blvd. Hosted by J.O. Bishop 910.315.3311
2 Ouimet Court Hosted by Jennifer Oldham 910.695.6249
7 Gilmore Road Hosted by Inge Dahl 910.690.3531
Afterwards be sure to stop by our booth at the Pinehurst Fall Dressage Show at the Harness Track where we’ll
have all of our fabulous listings featured!
Refreshments and Raffles starting at 5!
www.McDevittTownAndCountry.com107 NE Broad Street • 910.693.7901
PAGE D2 THE PILOT — SOUTHERN PINES, N.C. FRIDAY, SEPTEMBER 23, 2011
The Moore County Register ofDeeds Office in Carthage hasrecorded the following propertytransfers valued at $50,000 or more.
September 12-16, 2011Aberdeen Carolina & Western
Railway Company to NC Dept ofTransportation and Department ofTransportaion, Deed for HighwayRight of Way, Mineral SpringsTownship, $225,500.Westside Holdings LLC to Savvy
Homes LLC, Lots 22 & 2728 SandySprings Township, $105,000.Mid State Development LLC to
Patricia J. Oelschlager, Unit 78 Cy-press Creek Townhomes, SandhillsTownship, $199,000.James C. and Alisia H. Faris to
Rodney L. and Melanie H. Flem-ing, Lot 8 S15 Whispering Winds,$361,000.Mid State Development LLC to
Leigh F. Rorie, Unit 28 CypressCreek Townhomes, Sandhills Town-ship, $196,500.Glenmede Trust Company NC
Et al. to Gregg A. and Cynthia B.Johnson, Lot 24 BLX ADD 2 RoyalDornoch Golf Village, MineralSprings Township, $400,000.Wayne R. and Janis A. Balwin to
Timothy N. and Laura B. Todd,Lot 87 P4 Glen Laurel, $275,000.Curtis D. Meadows and Helen
W. Thomas to Anthony Ioppoloand Lisa Kivett, Lot 8 Meadows In
the Sandhills, Sandhills Township,$155,500.AW Builders Inc. to Peter S. Wo-
jcik Et al., Lot 231 U4 P1 Pinehurst,$186,000.HSBC Mortgage Services Inc. to
Crystal and Damon Dean, Lot 1Shady Woods, $180,000.AW Builders Inc. to Cristian
Juarez and Christa Laughter, Lot28 U4 P1 Pinehurst, $173,000.Todd and Kelly Willert to Lucas
R. McDowell, Tract, SandhillsTownship, $295,500.H&H Homes of Fayetteville
LLC to Karl D. and Wendy A.Reamer, Lot 5 Shepherds Ridge,Sandhills Township, $149,000.Thomas Nanfelt Et al. to Robert
K. and Anne L. Nicolson, Unit 4ABuilding A Whispering Pines Condo,McNeill Township, $155,000.DGH Management LLC to
Robert and Laurie Martin, Lot 19Laurel Commons, McNeill Town-ship, $203,000.Donald H. and Shirley R. Smed-
ley to Wayne R. and Janis A. Bald-win, Lot 1A S1 Whispering Pines,McNeill Township, $309,000.Darren S. Cranfill and
Camerons II Nursery LLC to Bankof Carolinas, Trustees DeedB2854/161 65.42 acres, GreenwoodTownship, $461,500.Mark V. and Iris M. Simunovich
to Paul and Amela Hauser, Lots
165166 U8 P1 Pinehurst, MineralSprings Township, $328,000.Carol A. Weisman Et al. to Don-
ald H. and Shirley R. Smedley, Unit302 Knollwood Village Townshouse,McNeill Township, $170,000.Teri L. and John R. Clayton to
Raymond J. Talkowski Et al.,Tract, Mineral Springs Township,$280,000.Andrew F. Pasternak Et al. to
Robert and Carol Brown, Lots 2830Wigg, Mineral Springs Township,$220,000.Mark W. and Karen A. Noller to
Jeffrey T. and Maria W. Sumner,Lot 421 S4 Southern Pines CC,$350,000.Prudential Relocation Inc. to
Deborah L. Brayton, Lot 697 U1 P1Pinehurst, $175,000.Equestrian Lakes LLC to Shane
M. Stebbins Et al., Lot 116 P01McLendon Hills, Mineral SpringsTownship, $128,500.Janette R. and Dean A. Stiebel-
ing to Richard C. and Barbara H.Findlow, Lot 2659 S8 PIII Pinewild,Mineral Springs Township, $500,000.Heather Wallace to Hugh C. and
Cheryl Mensch, Unit B Building 10P1 Pinehurst Manor Condo,$105,000.Tatum Builders Inc. to Todd E.
Smits, Lot 350 Up P1 Pinehurst,Mineral Springs Township, $239,000.
PROPERTY TRANSACTIONS
Pinehurst $215,000Great Floor Plan On Cul-de-sac3 BR / 2 BA Code 824
www.5StirrupPlace.com
Pinehurst $249,000Covered Porch & Large Fence Lot3 BR / 2.5 BA Code 825www.1340BurningTreeRoad.com
Seven Lakes North $149,000Great Family Home – Quiet Street3 BR / 2 BA Code 533
www.122SeminoleCourt.com
Seven Lakes North $319,000Unique & Welcoming Water Front Home2 BR / 2.5 BA Code 628
www.105BrownBarkRoad.com
Seven Lakes North $144,000Inviting Floor Plan – Nice Lot3 BR / 2 BA Code 633
www.105CobblestoneCourt.com
McLendon Hills $399,000Lovely Home - Equestrian Community4 BR / 4 BA Code 662
www.192BrokenRidgeTrail.com
National $459,000Lovely Brick Golf Front Home3 BR / 2 BA Code 672
www.205NationalDrive.com
Midland CC $182,000Newly Renovated Brick Golf Front2 BR / 2 BA Code 681
www.120SaffordDrive.com
Foxfire $379,000Spectacular Brick Golf Front5 BR / 4.5 BA Code 688
www.42WoodlandCir.com
Foxfire $175,000Inviting Brick Home – Cul-de-sac Location3 BR / 2.5 BA Code 693
www.20CardinalDrive.com
CCNC $350,000Great Brick Home – Beautiful Golf View3 BR / 3 BA Code 700
www.45BrookHollowDrive.com
Pinehurst $75,000Updated Immaculate Golf View Condo1 BR / 1 BA Code 717
www.210StAndrewsCondo.com
National $600,000Beautiful & Stylish Golf Front Home4 BR / 3.5 BA Code 719
www.121StMellions.com
Longleaf CC $249,000Wonderful Townhouse – Beautiful Golf Views3 BR / 3 BA Code 704
www.171StarlandLane.com
Seven Lakes West $199,900Lovely Custom Home - Open Floor Plan3 BR / 2 BA Code 723
www.167LongleafDrive.com
Pinewild CC $397,700Breathtaking Panoramic Golf Views3 BR / 2.5 BA Code 725
www.60PinewildDrive.com
Longleaf CC $379,000Gorgeous Pristine Golf Front Home3 BR / 2 BA Code 713www.325MagnoliaCircle.com
Pinehurst $549,000Premier Water Front on Lake Pinehurst3 BR / 2.5 BA Code 715
www.3LakeShoreCourt.com
Aberdeen $135,000Terrific Floor Plan – Fenced Backyard3 BR / 2 BA Code 654www.240SnoozingPineLane.com
Pinehurst $209,000Great Location – Generous Sized Rooms3 BR / 3 BA Code 730
www.1425MonticelloDrive.com
Southern Pines $172,000Elegant Brick Ranch – Inviting Features3 BR / 2 BA Code 731
www.195MidlandRoad.com
Pinehurst $117,900Great Buy – Furnished Condo2 BR / 2 BA Code 660
www.105StAndrewsCondo.com
Seven Lakes West $325,000Spacious Home w/Fenced Backyard3 BR / 3.5 BA Code 822
www.101SimmonsDrive.com
Seven Lakes North $229,000On Lake Sequoia w/Oversized Lot3 BR / 2 BA Code 823www.108ScuppernongCourt.com
Seven Lakes West $499,000Lovely Water Front w/ Inviting Floor Plan4 BR / 3 BA Code 493
www.103VanoreRoad.com
NEW ON MARKET NEW ON MARKET
View Floor Plans and Virtual Tours of Our Listings and See ALL Moore County Listings and Community Information at
wwwwww..MMaarrtthhaaGGeennttrryy..ccoommRe/Max Prime Properties, 5 Chinquapin Rd., Pinehurst, NC 910-295-7100 • 800-214-9007 www.MarthaGentry.com
Military?!Check out our
MilitaryAdvantage Program at
TAMMY LYNE, Realtor910-603-5300
"Choose a Realtor who is also an experienced
State-Certified Appraiser" To see MY LISTINGS
and ALL area MULTIPLE LISTINGS
go to
www.TammyLyne.com
UNBELIEVABLE PRICE FOR A GOLFFRONT HOME IN PINEHURST! 2200SF heated + glassed-in porch, 3BRs, 2 Baths, updated kitchen withgranite and stainless, wonderfulviews of 13th Green, Course #3.Club Membership available.$220,000. More atwww.20PineMeadowsRoad.com.
NESTLED ON 1/2+ ACRE WITHQUALITY CONSTRUCTION ANDMANY UPGRADES INCLUDING 9’ceilings, deep crown moldings,split bedrooms (3), 2 1/2 baths, for-mal LR and DR, family roomw/wood burning fireplace,screened porch. $249,000. More atwww.610SunRoad.com.
Eva Toney910-638-0972
E-Mail: [email protected]
www.RealEstateInPinehurst.com
GOLF FRONT BEST PRICE! CUSTOM ALL BRICK HOME
©2011 Prudential Financial, Inc. and its related entities. An independently owned and operated broker member of Prudential Real Estate Affiliates, Inc.,a Prudential Financial company. Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license. Equal Housing Opportunity.
PAULA ESPE PROPERTIESPaula P. Espe, Broker
910-315-5622www.paulaespe.com
14 BUCKLEY COURT • WHISPERING PINES Newbury Ridge Subdivision - 3BD/2BA home with Den/Study on 1.25 AC lot in growingarea. Features include vaulted & trey ceilings, wonderful front & back porches. FamilyRoom w/fireplace, dream kitchen with stainless steel appliances.
PRICE REDUCED $299,900.
Member Firm
Barbara KlugCell 910.690.0262
Knollwood Village736 Burlwood Drive
Immaculate all brick home nestledon a private wooded lot.
Welcoming light & open feel to thissplit bedroom (2 bedrooms/2 baths)
floor-plan with spacious rooms,skylights, lots of glass, 9' ceilings,
eat-in kitchen overlookingcourtyard garden.
Offered at $159,900.For more information please
contact Barbara Klug at910-690-0262.
Box 1511 - 2209 Midland Road - Pinehurst, NC 28370800.633.8576 - 910.295.5011 - Fax 910.295.6000 WWW.PINEHURSTAREAREALTY.COM
FRIDAY, SEPTEMBER 23, 2011 THE PILOT — SOUTHERN PINES, N.C. PAGE D3
When you need to know...talk to Mickey DeBernard
Affiliated Builders• McArnold
Construction Inc.• Wonderful Life
Construction Inc.
www.NewHeritageRealty.comE-mail: [email protected]
1901 N. Poplar Street • Aberdeen NC
OPEN HOUSE Newbury Ridge - Sunday 1-4 PM
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Professionally SpeakingDear Community,I recently attended the North Car-
olina Association of REALTORS®convention in the Greenbrier Resort inWest Virginia. The National Associa-tion of REALTORS® chief economist,Dr. Lawrence Yun spoke to the groupabout the state of our national andstate economy.Some interesting statistics came
from his presentation, and no, he didnot predict recovery was just aroundthe corner. The interest cost of moneycan go no lower, the Fed has the rateat zero for banks. There can be no relief from the Fedlowering the rates charged banks.So what is the market state at this time, overall it
seems to be flat or slightly declining, local markets,especially North Dakota and Texas are recoveredfrom the recession, jobs and housing is going up.The rest of us are still waiting.A particular statistic I found interesting was the
number of cash sales of property, it is at an all timehigh of 35%, normal levels are 9-11%. Smart moneyis buying real estate even though they either can’tget a loan or are taking cash from low performing as-sets. This seems to hold true for both residential andcommercial sales.Job creation is closely linked to the equity in hous-
ing, most small business starts are financed byhome equity. Right now that equity is at an all timelow. The other factor limiting job creation is the ability
to borrow against that equity. The tight-ened ratios have taken 20% of the quali-fied borrowers market out of the pool.As you can see there would be an im-
mediate gain of 15% to 20% more buy-ers simply by using credit scores thatwere ‘normal’ prior to 2009. The increasein scores from 720 to 760 fueled theboom and then the bust, and the reac-tion to the crisis by the Fed by hiking thescores needed to qualify.In his closing comments he mentioned
the housing boom after WW II, nothingdown VA loans were a major part of the post warboom. It did not result in a bust because the loanswere made as a percentage of income and the abilityto repay the note. Hopefully, we will see improve-ments in the near future.
Published every Friday by The Pilot in partnership with the Pinehurst-SouthernPines Area Association of REALTORS, with a circulation of 19,000.Deadline for the Sandhills Real Estate Guide is 5:00 pm on Tuesday.
Pinehurst - Southern Pines Area Association of REALTORS®, INC.The Voice for Real Estate in the Sandhills
www.pinehurstncrealtors.com
2011 Board of Directors:Jim Murray - PresidentSteve Ennis - DirectorChristine Menear - Director Barbara Klug - MLS Director Arvilla Sheron - President Elect Peggy Floyd - Director
Laurie Davis - DirectorBobby Brooks - MLS DirectorLynne Williams - Secretary/Treasurer Dave Craft - DirectorElizabeth Childers - Past President Denise Roberts - MLS Director
Lari Dirkmaat - Director Greg Regan - Director Roy Harvel - MLS PresidentDawn Crawley - MLS DirectorPeyton Gentry - MLS President ElectKim Stout - MLS Secretary/Treasurer
Sincerely,Jim MurrayPresident
©2011 Prudential Financial, Inc. and its related entities. An independently owned and operated broker member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Prudential, the Prudential logo and the Rock symbol are service marks of PrudentialFinancial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license. Equal Housing Opportunity.
Get the free mobile app athttp://gettag.mobi
144297 Great 3BR/2BA brick home onover an acre. Wrkshop w/HV/AC. Pool.$289,900 PRU6V5S9
Bill Brock 910.639.1148 910.692.2635
144191 Golf Front! Fabulous Viewfrom Screened Porch! 3BR/3BA.$349,000 PRU8K6Z7
Carolyn Hallett 910.986.2319 910.692.2635
144840 Absolutely Perfect! Move-inReady & Priced to Sell! 4BR/3BA.$575,000 PRU5C8R6
Carolyn Hallett 910.986.2319 910.692.2635
143190 Completely Remodeled!4BR/3.5BA. Hardwood floors, CarolinaRoom. Golf Front! $450K PRU6Q3V3
Bill Brock 910.639.1148 910.692.2635
144316 11 Acre Horse Farm 25 min.from Traffic Circle. 3BR/2BA House.Barn, Paddocks & Pond. NOW$399,900! PRU4B3P4Carol Haney910.315.5013 910.692.2635
142615 All Brick, Single Level Home.See: www.74DungarvanLane.com$320,000 PRU5A2W5
Frank Sessoms 910.639.3099 910.692.2635
138917 Historic Craftsman ca 1920's,gorgeous heart pine floors. 6BR/2BA.$225,000 PRU4H6R9
Bettye Marcum910.603.2686 910.692.2635
144311 Great House! Great Price!4Bedrooms, 3Baths, Office. $319,000PRU8S5G7
Bonnie Baker910.690.4705 910.692.2635
142753 www.10GreencastleDrive.com- All brick, new roof. 3BR/2BA.$299,000 PRU3C5A5
Frank Sessoms910.639.3099 910.692.2635
142340 Knollwood: Huge Reduction…NOW $229,000! 3BR/2BA. Very Private.Large Deck. Wonderful! PRU8C6Z6
Carol Haney910.315.5013 910.692.2635
145021 Dream Renovation inMiddleton Place! 2Bedrooms, 2Baths,Den & Office. $325,000 PRU6Q9U3
Kay Beran 910.315.3322 910.692.2635
143914 Simply the Best Family Home!4BR/3.5BA. Large Deck & Yard.$487,500 PRU7M4B5
Carolyn Hallett 910.986.2319 910.692.2635
GREAT PRICES . . .aanndd LLooww IInntteerreesstt RRaatteess!! Gouger O’Neal
& SaundersReal Estate
PINEHURST #6
CCNC SOUTHERN PINES
141717 3 Blocks to Village; 3200+sf,4BR/4BA, 3-car garage. PCC Mbrshpavailable. $695,000 PRU2F7E6
Eva Toney910.638.0972 910.295.5504
OLD TOWN PINEHURST
143062 Well appointed home. 3BR/3BA. Kitchen/Family Rm combo.$425K PRU3W2Q5
Mary Joe Worth 910.695.5430
DONALD ROSS AREA
141050 Fabulous Golf Front,3BR/3.5BA home with an office andheated pool. $1,195,000 PRU8H8N4
Carolyn Hallett 910.986.2319 910.692.2635
CCNC
144732 320 SUGAR PINE DRIVE,PINEHURST, DIR.: Burning Tree toSugar Pine; Home on the Right. GreatValue! 2-Frplcs, 3BR/2BA, Fam. Rm.$239K PRU3D2Y6
Barbara Uber 910.315.1679 910.295.5504
141967 12 PIN CHERRY LANE,PINEHURST, DIR.: From BurningTree; Right Lodge Pole, Right SugarPine; Right Pin Cherry Lane.4BR/3.5BA. $284,500 PRU2E7H7
John Condit 910.585.2087 910.295.5504
144500 240 WHEELING DRIVE,PINEHURST, DIR.: Hwy 211 Westfrom Pinehurst Circle; Right Gun GlubRoad; Right Longleaf; Left Wheeling.3BR/2BA. $198,500 PRU4J7F2
Ginny Prescott 910.691.5060 910.692.2635
144095 5 STALLION, PINEHURST,DIR.: Morganton Road; LeftMonticello; Left Surry South; RightStallion; House on Left. 3BR/2.5BA.Bonus Room. $259,900 PRU3W4M9
Kimberly Byrd 910.695.6778 910.692.2635
145071 9 ALPINE PLACE, PINE-HURST, DIR.: From Hwy 5 to St.Andrews (between Lake Hills and PineTree). 4BR/3BA. Lower Level. GolfFront. $299K PRU9L9L8
Beverly Valutis 910.916.1313 910.295.5504
OPEN HOUSESUNDAY, SEPT. 25 • 1-3 P.M.
PINEHURSTOLD TOWN PINEHURST
OPEN HOUSESUNDAY, SEPT. 25 • 1-4 P.M.
OPEN HOUSESUNDAY, SEPT. 25 • 1-3 P.M.
NATIONAL GC PRICE SLASHED
NATIONAL GC
PRICE SLASHEDOPEN HOUSESUNDAY, SEPT. 25 • 2-4 P.M.
OPEN HOUSESUNDAY, SEPT. 25 • 2-4 P.M.
PINE GROVE VILLAGE SKYLINE MANOR
NATIONAL GC
Log on to www.prudentialproperties.comEnter the PRU ID for our Easy Search or Snap & Search with our FREE APP on your Smart Phone
910.295.5504 Pinehurst | 910.692.2635 Southern Pines
Single Family residential Average sales price, units closed and average days on market in Moore County only.Stats provide by the Pinehurst-Southern Pines Area Multiple Listing Service. Roy Harvel – President.
Moore County, Single Family, residential only, number of closings by month:
Year Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
2011 56 47 75 70 81 93 88 75
2010 45 51 72 94 78 112 77 70 77 54 67 65
2009 20 41 42 56 45 79 76 59 67 67 74 67
2008 61 55 69 72 90 94 112 92 99 70 47 59
Year Average Closed Price Total Sold Days on Market2011 $233,133 591 1472010 $252,021 862 1722009 $258,560 693 1562008 $276,853 920 142
Pilot Article
I recently attended the North Carolina Association of REALTORS® convention in the Greenbrier Resort in West Virginia. The National Association of REALTORS® chief economist, Dr. Lawrence Yun spoke to the group about the state of our national and state economy.
Some interesting statistics came from his presentation, and no, he did not predict recovery was just around the corner. The interest cost of money can go no lower, the Fed has the rate at zero for banks. There can be no relief from the Fed lowering the rates charged banks.
So what is the market state at this time, overall it seems to be flat or slightly declining, local markets, especially North Dakota and Texas are recovered from the recession, jobs and housing is going up. The rest of us are still waiting.
A particular statistic I found interesting was the number of cash sales of property, it is at an all time high of 35%, normal levels are 9-11%. Smart money is buying real estate even though they either can’t get a loan or are taking cash from low performing assets. This seems to hold true for both residential and commercial sales.
Job creation is closely linked to the equity in housing, most small business starts are financed by home equity. Right now that equity is at an all time low. The other factor limiting job creation is the ability to borrow against that equity. The tightened ratios have taken 20% of the qualified
borrowers market out of the pool. As you can see there would be an immediate gain of 15% to 20% more buyers simply by using credit scores that were ‘normal’ prior to 2009. The increase in scores from 720 to 760 fueled the boom and then the bust, and the reaction to the crisis by the Fed by hiking the scores needed to qualify.
In his closing comments he mentioned the housing boom after WW II, nothing down VA loans were a major part of the post war boom. It did not result in a bust because the loans were made as a percentage of income and the ability to repay the note. Hopefully, we will see improvements in the near future.
Sincerely,
Jim Murray, PSPAAR President
PAGE D4 THE PILOT — SOUTHERN PINES, N.C. FRIDAY, SEPTEMBER 23, 2011
By John PandichMoore County Home Builders Association PresidentMMOOOORREE CCOOUUNNTTYY HHOOMMEE BBUUIILLDDEERRSS AASSSSOOCCIIAATTIIOONN
The days when in-dividuals buildhouses by them-selves have longsince passed. Build-ing a house is now ateam effort. Generalcontractors hireskilled subcontrac-tors who specializein the variousphases of construc-tion. Part of the jobof the general con-
tractor is to developa schedule for build-ing a house so thateach subcontractorspecialist is there toperform each giventask at the righttime. Who are some ofthe players? First,someone has to ex-cavate the lot, dig-ging a hole for thefoundation. Next, a
subcontractor has topour the footings, onwhich the house willrest. A subcontrac-tor will then placethe foundation ontop of the footings. Once the founda-tion is in place, anew group of sub-contractors comesto the site. Some-one has to frame thehouse, which is theskeleton that pro-vides the support forthe interior and exte-rior walls, the floor-ing and the roof. Asiding contractor isneeded to install theexterior siding mate-rial. A roofing sub-contractor needs toapply the shingles orother roofing mate-rial. Someoneneeds to install thewindows and doorsto finish closing upthe house.When the house isclosed up, there isstill a lot of interiorwork to be done. Aelectrical subcon-
tractor needsto install allof theneces-sarywiring. Aplumbingsubcontrac-tor installs thepipes for the watersystem. And a spe-cialist needs to in-stall the heating, airconditioning andventilation (HVAC)system. As houseshave become largerand more complex,many of thesetrades require agreater level of ex-pertise than in by-gone generations.The house is nowready for the finish-ing touches. Oncethe plumbing, elec-trical and HVACwork is installed, asubcontractorcomes in to installinsulation. Anothermust hang the inte-rior walls and ceil-ings. These thenhave to be painted
by anothersub. Thecabinetsand ap-pli-ancesfor the
kitchenneed to be in-
stalled. The flooringand carpeting needto be laid. Onceagain, these tasksmust be scheduledin the correct order. Subcontractorsalso work on theoutside of thehouse. Someonemust grade andlandscape the prop-erty. Houses withdriveways and decksmay have still othersubcontractors whocome to the site.As houses havebecome larger andfilled with more fea-tures and options forpeople's comfort,house constructionhas become morespecialized.Nonetheless, morethan one of these
tasks may be per-formed by a particu-lar subcontractor.The general contrac-tor may also performsome of the tasks.This large team of
different tradespeo-ple who participatein the constructionof new homes isgood news for localeconomies. All ofthese subcontrac-tors are earningwages, payingtaxes, and spendingmoney in their com-munities. Themoney is spread outrather than concen-trated and can cre-ate an economicripple effect. That'sa good reason towant to see newhouses built in yourcommunity and tosupport your local"home team."For more informa-tion, contact theMoore County HomeBuilders Association at910-944-2992 or visitwww.mchba.com.
Local Builders & Home Services
Daniel Adams, owner [email protected]
(910) 295-1504 • www.danieladams.com
PROVIDINGCustom Homes
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HOMEOWNERS INSURANCE
PIONEERINSURANCE.COM
910-944-2848
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409 Johnson St, Aberdeen
RReeCERTIFIED GREEN BUILDER • ADDITIONS
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6895 NC HWY 211 W • PINEHURST
295-5400
Need Cash?$?$G&F Precious Metals
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102 Ray St. Carthage, NC 28327
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OFFICE: 910-281-4567 or 800-682-9276
QUALITY WORKAT REASONABLE RATES
Commercial & Residential Service On All Brands - New or Existing24 HOUR EMERGENCY SERVICE
It’s Time to Get Comfortable™
The "Home Team" of Subcontractors
FRIDAY, SEPTEMBER 23, 2011 THE PILOT — SOUTHERN PINES, N.C. PAGE D5
KW Agents are Painting the Town Red
OPEN HOUSE Sunday, September 25 • 1-4 pm
CARTHAGE137 MAGNOLIA HILL DRIVE3 BR / 2 BA, Cabin Branch
Move in condition.MLS# 144361 $230,000Lynlee Long • 910-315-5965
Directions: Union Church Road across fromNew Century Middle.
PINEHURST17 MEYER COURT
3 BR with Bonus Rm. or 4 BR, 2 Full & 2 Half Baths! Immaculate Condition
MLS# 144690 $389,000Hosted by Donna Shannon
910-986-3784Angie McKew • 910-315-6280
Directions: Pinehurst #6 Community - FromTraffic Circle - 15/501 N. Right Juniper CreekBlvd. Right Prestwick. Left Meyer Ct. Housefaces Prestwick & corners Meyer Ct.
PINEHURST110 HIGH POINT RD.
4 BR / 2.5 BA, Pine Grove Villagelarge level lot on quiet steeet
MLS# 145207 $449,900Karen Butler • 910-638-1786
Directions: From traffic circle, follow AirportRoad to right on Tall Timbers, left on HighPoint.
PINEHURST150 LINDEN ROAD
3 BR / 3.5 BA, Completely refurbishedand updated, .9 acres, PCC Memb.MLS# 142405 $499,000Listed by Peggy Floyd • 910-639-1197Hosted by Dianne Forsberg•910-315-5073Directions: From Pinehurst, Linden Road,house on left.
SOUTHERN PINES/HIGHLAND TRAILS203 Boyd Lane
3 BR / 2 BA, Colonial on Large ShadedPrivate Lot, Convenient to Fort BraggMLS# 144395 $185,000
Hosted and Listed by Jill Ford • 910-315-9977
Directions: E. Indiana to Left on Fort Bragg,Right on McNeill, Right on Selkirk, Left on Boyd,House on Left.
SOUTHERN PINES/MIDDLETON PLACE34 Courtney Place
2 BR / 2 BABest Value in Middleton Place--Reduced!MLS# 142207 $300,000Hosted by Cheryl DeNoble•910-280-9299Listed by Jill Ford • 910-315-9977
Directions: Enter Middleton from PeeDee Rd.,Courtney is 2nd left, home on right.
WHISPERING PINES20 Sunset Drive
3 BR / 2 BA, WaterfrontMLS# 143042 $200,000Margret Endrigat 910-690-8025
Directions: Take Airport Rd to Whisp. PinesCircle 22N towards Carthage, turn R on RaysBridge Rd, L on Sunset.
PINEHURST164 NATIONAL DR.
NATIONAL GOLF CLUB4 BR / 4.5 BA, 3 Car Garage
MLS# 143865 $1,095,000Peggy Floyd • 910-639-1197
Directions: Enter gate from Midland Road, L onNational, follow it to # 164 on left.
PINEHURST255 TALL TREES DRIVE
3 BR / 2 BA, Single story level in nicecondition! Reduced $10,000.
MLS# 144331 $148,000Hosted by Sue O’Hearn
910-639-9909Angie McKew • 910-315-6280
Directions: Morganton Rd to Pinehurst.RightBreak Point. Straight back on BreakPoint.End Unit on Tall Trees.
PINEHURST317 JUNIPER CREEK RD.
3 BR / 2 BA, Pinehurst No.6 features anOpen Split Floor Plan
MLS# 144668 $298,000Angela Rooney • 910-603-8603
Directions: 15/501 to Carth take Pinehurst No.6 North entrance (2nd entr) left on JuniperCreek Blvd home on Rt.
SOUTHERN PINES111 CHRISTINE CIRCLE 4 BR / 2 BA, James Creek
MLS# 142702 $290,000Rebecca Cummings • 910-315-4141
Directions: Southern Pines to Indiana toJames Creek, 1st right on James, right onChristine Circle.
Looking for a home with all the extras?Wonderful upscale 4 bd, 2.5 bath home in
Whispering Pines.Fabulous kitchen with granite counters,
stainless steel app.Great crown molding and tray ceilings.
Enormous walk in closet.Split floor plan with screen porch.
Close proximity to Ft. Bragg.$295,000 MLS# 142635
Joanne CrumRealtor, ABR, SFR
Your Ft. Bragg ConnectionCall Joanne at (910) 690-2819Rhodes & Co. Real Estatewww.JoanneCrum.com
250 QUEENS COVE WAYWHISPERING PINES
3 Bd, 2 Ba, $198,000. Private corner cul-de-sac. MOVE IN READY! All appliances &window treatments stay! Storm Cellar, Largeworkshop, storage galore. Close to Bragg.MLS #144581.Directions: Off Airport Rd, East of NiagaraCarthage Rd, 2nd street on left.
SUNDAY, SEPTEMBER 25 • 1-4 PM
Call Tony, Broker (910) 315-6461
BEST LOCATION IN SOUTHERN PINES
SANDHURST WEST * 180 BROADMEAD! This CustomBuilt All Brick home has over 1900 Sq Ft of Living Space withHigh Smooth Ceilings and a 3 Bedroom Split Floorplan.The Kitchen has "tons" of Counter and Cabinet space withan Island Breakfast Bar. Beautiful Landscaping withIrrigation System, Concrete Drive and Detached Storage aregreat outside amenities. Easy To Show! Call anytime and Iwill take you to see it! Priced at: $249,900
RERE//MAX of the PinesMAX of the PinesCALL:
Pinky Doyle * Broker/Owner910-783-6573 910-695-3651
PAULA ESPE PROPERTIESPaula P. Espe, Broker
910-315-5622www.paulaespe.com Member Firm
704 SAUNDERS ST.CARTHAGE
3BD/1BA Cottage on LargeLot. New carpet. Large sidedeck. Separate storage buildings. TLC needed.
Great location--corner lot closeto downtown area. $72,000.
Call Paula
Open Houses
ThisWeekend
Great home, totally updated in the last 3 years.New granite in kitchen. Main floor features living& dining room, kitchen with breakfast nook andfamily room. The upper level has 4 bedroomsincluding the master suite. Walk out lower levelhas an additional bedroom, bath & “rec” room.Lakeside Lane is minutes from the Village.
Directions:Hwy 5 to Lake Hills Rd, Diamondhead Dr.S, past PCC Marina, R on Burning Tree, R on LakesideLane.
SATURDAY, SEPTEMBER 24 • 1 - 3 P.M.
Offered by Jean Laino 910.585.5449Brenner Real Estate The Village of Pinehurst
www.BrennerRE.com 910.295.9040
PAGE D6 THE PILOT — SOUTHERN PINES, N.C. FRIDAY, SEPTEMBER 23, 2011
Out & Aboutin Real EstateKeep us involved
Send us your event photos to share with the community. Submit digital photos accompanied by caption
information to [email protected].
1 & 8 K Breast Cancer Awareness event last Saturday in Pinehurst. From left: Mary Margaret McGuire, Kam-ron Monroe, Jaclyn Womack, Cathy Larose, Dottie Black, Angela Weiss & Natalie Dean.
Pat Phillips of Rhodes & Co. Real Estate with husband, Phil, resting on the remains of Hadrian's Wallin northern England on a recent tour of the UK. Hadrian's Wall was built in 121AD and was originally9 ft.wide, 18 ft. high and stretched for 75 miles.
Weichert, Realtors- Larose & Company hosted Client Appreciation Day at the Pinehurst marina last weekend.
Agents, clients and kids enjoyed lunch by Smithfields & the breeze under the cabana.
LLooccaall RReeaallttoorr DDiirreeccttoorryyLucretiaPinnock692-6767
HolleighMcLaurin
980 Unit 3 Seven Lakes Drive(910) 673-1050Cell: (910) 315-9950
Call or e-mail to Request A Copy ofthe Real Estate Report.An Experienced Realtor
Will Smooth Your [email protected]
Cell: (910) 528-2432Fax: (910) 944-7943Pinehurst, NC 28374
www.basilgrouprealty.com Murray WilliamsonRealtor®
www.PinehurstHomeSearcher.comPinnock Real Estate & Relocation Services, Inc.
“Specializing in Woodlake for Over 25 Years”
Office.: (910) 245-8683Cell: (910) 624-2997Fax: (910) [email protected]
www.thelakeresortproperties.com
Jim Horne
To Search For Complete Real Estate Listings
go to www.thepilot.com/news/real-estate
CATHY LAROSEBroker / Owner
Office 910-693-3300Cell 910-690-0362
Larose and CompanyIndependently owned and operated
FRIDAY, SEPTEMBER 23, 2011 THE PILOT — SOUTHERN PINES, N.C. PAGE D7
PAGE D8 THE PILOT — SOUTHERN PINES, N.C. FRIDAY, SEPTEMBER 23, 2011
PINEHURST RESORT REALTY
910-235-8700 • 1-800-772-7588E-mail: [email protected]
Located in the Lobby of the Carolina Hotel
Joanne PadgettBroker in Charge
CRS/GRI & GREEN
Elizabeth ChildersAssociate Broker
CRS/GRI
Joe Violette
Associate Broker
Pete GarnerAssociate Broker
ABR
Roger JohnsonAssociate Broker
Harwell StovallAssociate Broker
Ann BentonAssociate Broker
GRI/ABR/RRS & GREEN
Faye GibsonAssociate BrokerGRI/ABR/RRS
We are here 7 days a week to answer your questions and meet your real estate needs or call 1-800-772-7588 910-235-8722 • E-mail: [email protected]
REMARKABLE on the inside. Com-pletely redone. Very open concept. Car-olina Room, deck, and side patio withlovely backyard. Cart storage, 24x26garage with lots of cabinets. PinehurstCountry Club membership available fortransfer. 4BR/3BA $235,000 (142859)
PRESTIGIOUS DORAL WOODS.Custom touches, built-ins & skylights.Large Kitchen has walk-in pantry &Family Room has a walk-in serving bar.First floor Office & separate artist’s/ craftroom off large laundry room. Plantationshutters, Anderson windows, & walk-instorage. PCC membership available fortransfer. 4BR/3.5BA $349,000 (144036)
GOLF FRONT HOME on famed Don-ald Ross No. 2 course. Located in TheFairwoods on Seven, a gated commu-nity. Overlooks the 4th tee of CourseNo. 2. Well maintained home. Newroof and heat pump 2009. Newlypainted interior. Large Master Suite,bedroom, sitting room, and office.3BR2.5BA $695,000 (137891)
NICE ALL BRICK HOME locatedjust down the street from the 12th hole ofPCC Course No. 1. Masonry fireplacewith gas logs, vaulted ceiling. Eat-inKitchen with nice elevated deck that isvery private. 3BR/2BA $224,000(144804)
Knollwood Heights brick with vinyl trimhome. Updated Kitchen. All appliancesincluded. Located on 1.2 acre wooded lot.Updated wiring and plumbing. Fireplace,crown molding and oak hardwood floorsthroughout. Two car garage. Two walk-in storage rooms. Second water meter foryard. 3 BR/3BA $349,500 (143436)
MINT IS THE WORD FOR THISHOME. Very private lot. Never any-one to the back. Cherry hardwoodfloors. Updated Kitchen with granitecounter tops. Convenient to Village andPinehurst Country Club. PCC member-ship available for transfer. $349,0003BR/3.5BA (144336)
NICE VIEWS and privacy from thethree bedroom ground floor condo.Fully furnished including stackwasher/dryer. PCC membership avail.for transfer. 3BR/2BA $174,400(139139)
NICELY FURNISHED GOLFFRONT three bedroom unit located onthe 2nd fairway of PCC No. 5 course.New vanities and many upgrades in thelast year. Condo is and can remain onthe Hotel rental as long as new owneragrees to the management rules and reg-ulations. 3BR/2BA $224,500 (143840)
MAINTENANCE FREE brick & vinylhome located across the street from PCCgolf course No. 6 2nd hole. Cathedralceiling Family Room with a ventlesspropane gas fireplace. Split bedroom floorplan. Large Kitchen with breakfast nook.Front and back porches. PCC member-ship available for transfer. 3BR/2BA$224,5000 (140442)
LOVELY, GOLF FRONT BRICKHOME in excellent condition on the13th fairway of Pinehurst Course No. 1.Expansive windows allow you to enjoythe view and bring the outside in. Openand flowing plan for entertaining. Splitbedroom plan. Excellent outdoor livingspace with 29’ x11’ deck with electricawning. 3BR/2.5BA $350,000 (144155)
Realtor of the WeekELIZABETH CHILDERS
Special Hickman built home on the 2nd fairway of PCC Course No.6. Hardwood, ceramic, and carpeting, crown moldings. Master bed-room has a California closet. Kitchen has granite fine cabinets, stain-less steel appliances. Plantation shutters & window treatments.Screened back porch and brick patio. Super landscaping. 3BR/3.5BA$432,500 (145122)
FEATURED HOME
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For more information contact: WEICHERT, REALTORS® Larose & Company(910) 693-3300 or [email protected]
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