“Even if it did win legislative approval – something that I don’t think will happen – I think it would have a negligible effect on the Canadian market in terms of attracting Chinese and other Asian property investors attracted to Vancouver and other Canadian markets,” Douglas Gray, author of The Canadian Snowbird Guide: Everything You Need to Know about Living Part-Time in the USA and Mexico.  “They are coming here instead of the U.S. for social and cultural reasons, and that won’t change.”

If a bi-partisan team of U.S. senators has its way, the American economy will see a significant increase in property investment coming from outside its recession-wary borders.

Last month, Senators Charles Schumer, D-N.Y., and Mike Lee, R-Utah, unveiled proposed changes to the country’s VISIT-USA Act, among them a measure to provide renewable three-year resident visas to foreign nationals who invest a minimum of $500,000 in residential real estate anywhere in the U.S.

That residency offer would extend to spouses and dependent children and is geared toward regenerating a housing market that has yet to recover from the 2007/8 housing collapse.

A host of conditions apply: of that half a million dollars in property, at least $250,000 must go toward a primary residence, although dwellings purchased for non-residential use can be rented out; the visa holder must also live in the primary residence for at least 180 days a year and pay U.S. income taxes on foreign earnings; all purchases must be made in cash; and all applicants would be subject to background checks.

That being said, Canadian snowbirds meeting the criteria would see their current six-month cap on stays in the U.S. removed. Proponents in Seattle – now struggling to grow its share of the Chinese investment now going to Vancouver – have also suggested the legislative changes would strengthen the city’s appeal.

That kind of diversion just isn’t going to happen, said Gray, among other successful property investors based in B.C. convinced Vancouver Asian-friendly approach and large community will keep it as the primary real estate market for Chinese investors.

Gray, also a lawyer and author of several other investment books, is just as convinced potential tax implications and the possibility of losing access to Canadian health care will also keep most snowbirds from relocating to the U.S.

“That isn’t going to happen,” he told CRE.

-Vernon Clement Jones

Courtesy Jeff Dicks Real Estate

Very rarely do I have something at the tip of my tongue not be thankful for. The years continue to roll along and my kids continue to get taller as I shrink. I’m often reminded by my lovely wife Christine that we are very fortunate and as I like to say life gives you lemons if you continue to complain of life’s challenges.

I came across a snippet of Jon Gordon’s work today that I couldn’t help but share.

They are two words that have the power to transform our health, happiness, athletic performance and success. Research shows that grateful people are happier and more likely to maintain good friendships. A state of gratitude, according to research by the Institute of HeartMath, also improves the heart’s rhythmic functioning, which helps us to reduce stress, think more clearly under pressure and heal physically. It’s actually physiologically impossible to be stressed and thankful at the same time. When you are grateful you flood your body and brain with emotions and endorphins that uplift and energize you rather than the stress hormones that drain you.

Gratitude and appreciation are also essential for a healthy work environment. In fact, the number one reason why people leave their jobs is because they don’t feel appreciated. A simple thank you and a show of appreciation can make all the difference.

Gratitude is like muscle. The more we do with it the stronger it gets- Jon Gordon

Take note and you may just survive the holidays…….and beyond

Jeff Dicks

Jeff Dicks Real Estate

Get Picky — Insist on a Stickie!  

A couple of months ago, I wrote about sweet red wines…and
the rather curious…but nonetheless latest and greatest craze in the ever-changing
world of wine.  And guess what! Their
numbers have only mushroomed in the past few months!

Be that as it may, I thought I’d capitalize on the
obvious and burgeoning popularity of all things sugary and write a bit about the
true nobility of sweet wines…the “Stickies!”
Known commonly as dessert wines, Stickies
are exquisitely flavorful nectars that are simply God’s way of illustrating
organoleptic perfection!  

The never-miss-a-chance-to-coin-a-new-word
larrikin Aussies are recognized to have first minted the clever but definitive term
Stickie…a nickname befitting the
unctuous, syrupy — and yes — sticky nature that is common to dessert
wines.  To be technically factual, it’s
necessary for me to declare that the original use of “Stickies” first referred to Australian dessert wines made from
white grapes…but prone as we humans are to beg, borrow and steal a great idea,
the term Stickie these days is pretty
much a universally acceptable reference to all syrupy sweet dessert wines…from
Ports to Ice Wines.

Primo Stickies From
Around the World

Would it surprise you to learn that “really sweet” wines
are thought to be the earliest consistently-made and consumed types of wine?
There appear to be a number of reasons for that, but chief among them is that high
sugar levels minimized the negative impact of oxidation and helped preserve wines
for very long periods of time.   One of
the world’s oldest and most respected Stickies
is an ancient wine from Cyprus known as Commandaria…a
Stickie that dates back some 4000
years…and a wine that

was revered by the Knights Templar in the 12^th
Century.  It’s also known as one of the
world’s “noblest” Stickies for the
distinction it was

afforded by King Richard the Lionheart when celebrating
his marriage to Berengaria of Navarre.
He declared Commandaria to be the “Wine of Kings and the King of Wines.”

Other famous Stickies
of the world are the fabled Sauternes from Bordeaux, the Beerenauslese, Trockenbeerenauslese and Eisweins
of Germany and Austria, the Ice Wines of
Canada and the US Finger Lakes, the Tokaji/Tokay
wines from Hungary and Slovakia, Vin
Santo from Italy, and the “fortified” Ports
and Sherries of Portugal and Spain respectively.

And Not to Be Forgotten…the
Also-rans!

There are countless other Stickies of distinction, for just about every winery will have a Stickie made from one or more of the grapes
they grow.  That said, Stickies get that way by one of five
basic methods: from grapes being infected
with Noble Rot, aka Botrytis cinerea, a harmless fungus that dries and
shrivels ripened grapes such that sugars, acids and flavors are intensely concentrated;
from non-infected grapes frozen on the vine such
that water is frozen but sugars and other dissolved solids are not…which
produces a more concentrated and flavorful must to be pressed; from non-infected grapes frozen after being
picked…which also produces a highly concentrated and flavorful must;
from non-infected very ripe to “raisined” grapes that are
picked far later than usual…which allows for a range of concentrated sugars,
acids and flavors (called Late Harvest
wines); or the Granddaddy of approaches – from grapes that have been dried (on or off-vine)…whose concentrated
flavors run from fruity to nutty.  Can
you say CA-CHING?!

A Stickie’s ultimate character is also tempered by the variety of grape(s)
involved, the addition of sweeteners (sugar, honey etc.) and aging
techniques.  Finally…for those who’ve never ended a meal with a Port,
an Eiswein or a goblet of gold from
Sauternes, you really do need to get with the program!  Pricey? Yes!
Worth it? You betcha’

A Festive Flight of

Fat Day Favorites!

White

Chardonnay

Big Vines   2009

Refined, Vibrant, Elegant, and
Mouth-watering!

(Carneros — Napa Valley, CA)  $12-$14 – First and foremost, this bright and
fruity Chardonnay expression is a “dreamboat of a wine!”  Then there’s the Big Vines pedigree — that
not only involves exquisite fruit from idyllic terroir but craftsmanship
overseen by two of Napa’s brightest winemaking stars — Michael Beaulac and
Scott McLeod (Wine Enthusiast’s 2009 Winemaker of the Year as well as the
doting genius behind both Rubicon Estate and Francis Coppola wines for 18
years).   Aged in stainless steel with no
malolactic fermentation, the result is a fruit-forward, beautifully balanced
and delicious wine that will both delight your senses and leave you with fond
memories.  This is Chardonnay as God
intended it to be…and for the life of me, I don’t know how Big Vines can sell
it for such an affordable price.    http://www.bigvinewines.com/

Reds

Valdiguié

J. Lohr Estates Wildflower   2010

A Fruit-forward, Soft & Supple Jewel
of a Wine!

(Arroyo Seco Appellation – Monterey,  CA)/$10-$12 When it comes to describing this
little gem of a wine, WOW is the best word that comes to mind.  While there might be a handful of other
California wineries that produce this deliciously fruity and slightly off-dry
wine, no one makes it better than J. Lohr’s renowned “red wine winemaker” Steve
Peck.  Reminiscent of the famed Crus from
Beaujolais — Morgon, Fleurie and Moulin-a-Vent –all made from the famously
luscious Gamay grape…this wine used to be called “Napa Gamay” until the Bureau of Alcohol, Tax and Firearms prohibited
the use of that term in 2007.  Instead, US
producers must now use the actual name of the grape — Valdiguié – a once-popular but now obscure varietal from the
Languedoc-Roussillon region of southern France.  This
Vintage is 100% Valdiguié and about
20% of the

wine was produced using Carbonic
Maceration, where whole grape clusters are fermented together and without
benefit of added yeast.  It’s a
winemaking technique that features the fruit, achieves lower tannin levels and
results in a soft, supple and luscious wine.
It reminds me of the

German Dornfelder…the red grape (and wine)
for people who say they don’t like red wine!
It’s also one of the most versatile wines you’ll ever experience!   It’s the perfect “new wine” to try this
Thanksgiving!  I guarantee you’ll love
it!   http://www.jlohr.com/

Gamay

Georges Duboeuf   Beaujolais
Nouveau   2011

Fruity, Floral, Soft, and Yummy! 

(Beaujolais AOC–Romaneche-Thorins, FR)/$9-$12 Duboeuf’s
Beaujolais Nouveau is a perennial Thanksgiving crowd pleaser and one of the
best wine values you’ll find…period!
Look for the 2011 release on the traditional third Thursday of November
–which falls on the 17^th this year.
Also…be sure to call your retailer and reserve your fair share!

http://duboeuf.com/

Cabernet Sauvignon

Big Vines   2009

Superbly Supple, Sinfully Sensuous and
Stunning!  

(Napa Valley, CA)/$16-$18– It’s not
every day that I discover a refined and elegant classic Cabernet at such a
modest price point.  A Tasting Panel I recently
hosted unanimously judged this to be a $50 Cab – and as much as I wanted to let
them believe in my “generosity”… I buckled and let them know the truth. Medium
bodied, gorgeously translucent and beautifully balanced, this little gem still
has the legs of a Rockette and a finish that lasts through two big chews from a
French baguette!  If ever there was a
Cabernet that illustrates “typicity”…the extent to which a wine exhibits the taste
attributes of is varietal foundation…this 2009 Big Vines Cab is that wine!  With 50% of the fruit sourced from vineyards
in renowned Rutherford, 30% from Atlas Peak and 20% from Coombsville, it was
rested for 18 months in 30% new French oak.
Yum!  I can hardly wait to get that
next bottle!      http://www.bigvinewines.com/

Rick Davis

Courtesy of Jeff Dicks Real Estate

Heritage Wake Forest Homes For Sale

“Following last week’s euphoria over the European Summit plan, investors are
in a more skeptical mood this week,” said BMO Capital Markets. “In our view,
while the plan will help contain the risk of a European banking crisis and
financial contagion to other countries, it falls well short of resolving the
crisis.”

So Treasuries are starting off the day stronger as more investors are seeking
safety over riskier stocks.  This will allow us to see a little bit of
improvement in rates today.

Rate
update.  Remember these are start rates…credit score, LTV, and other factors
go into final rate.

30yr
Fixed rate 4.125%  APR 4.229%

15 yr
Fixed rate 3.5%  APR 3.765%

5/1 Arm
3.125%   APR 3.207%

30 yr
FHA Fixed 3.75%  APR 4.113%

Have a
fun and safe Halloween!

Chris Blount
Branch Manager
Integrity Mortgage/AES Lending

Courtesy Jeff Dicks Real Estate

Raleigh Homes Market Update

The Wake Forest Planning Board/Town of Wake Forest commissioners will hold a joint public hearing at 7:30 P.M., September 6, 2011, at the Wake Forest Town Hall to consider the request of Mr. James Gerhart on behelf of Sheetz, Inc. for a Special Use Permit to allow a convenience store with gasoline sales located at the intersection of Rogers Road and South Franklin Street.

All interested homeowners are welcome to attend the hearing. Additionally, this is your opportunity to address the Planning Board and Board of Commissioners regarding this matter should you so desire. Following the hearing, the Planning Board shall make a recommendation to the Board of Commissioners. The Board of Commissioners at their regularly scheduled meeting on September 20, at 7:00 P.M., will consider the petition and recommendation of the Planning Board and, may at its discretion choose to modify it.

Heritage Wake Forest Homeowners Association

Heritage Wake Forest Homes

Courtesy of  Jeff Dicks Real Estate

Not too many golf communities grab your attention in the Triangle area as standout’s. Of course the residents of any Raleigh Golf community may argue their neighborhoods merits, and who are we to challenge them.

I have touted Heritage Wake Forest on many occasions as well as the former TPC Wakefield Plantation. The Wakefield property was recently changed ownership and many are looking forward to what the McConnell Group can accomplish as they add to their list of fine country clubs.

North Raleigh, and Wake Forest continue to grow and with it the many amenities for all. If your looking for more detailed information on Heritage Wake Forest or Wakefield Plantation don’t hesitate to contact The Jeff Dicks Real Estate Group

6/18 Second Annual StormFest (Museum of Natural Sciences, FREE)

6/25-26 – North State Toy & Hobby Show (Kerr Scott Building, $5)

7/6-7/10 – Cirque Du Soleil (RBC Center, $35-$94))

7/17 – Carolina Music Awards (Progress Energy Center, $21-$31)

7/23 – Cary Scavenger Hunt (Cary Arts Center, $FREE)

7/23-31 – Hairspray (Progress Energy Center for Performing Arts, $25-$75)

Fore more local events, go to: www.visitRaleigh.com

North Carolina recently updated regulations pertaining to firms and individuals performing renovations, repair and painting for compensation, who disturb lead-based paint paint in housing and in child-occupied facilities built before 1978, to be trained and certified. To prevent childhood lead poisoning, they must follow specific lead-safe work practices when disturbing painted or coated surfaces containing lead.

Those individulas who perform renovations for compensation must also provide the pamphlet “The Lead Safe Certified Guide to Renovate Right” to owners, occupants, parents and guardians before beginning renovation work. The regulations apply to renovations in housing such as apartments, homes or in child-occupied facilities such as daycare centers, kindergarten and pre-school classrooms built before 1978

For more information on working with lead-based paint, finding a certified contractor performing renovation,repair and painting activities, contact the North Carolina Division of Public Health, Health Hazards Control Unit, Lead Based Paint Hazard Management Program @ 919-707-5950 or visit

Like it or not, there are a couple of guidelines bankers, and mortgage lenders use to determine how much loan you can afford.

One guideline is the Payment to Income Ratio. This guideline compares your income- or your total household income-to the amount of mortgage your considering.

To calculate the “payment” part of the formula, the lender will take the mortgage payment (principal & interest) and add it to Propeety Taxes and Insurance. Hence the term “PITI” (principal, interest, taxes and insurance).

Usually lenders will loan up to 28% of your total household income.

But before your home free, there’s something else you need to know..

It’s called the Debt to Income Ratio. Debt refers to ALL, the major monthly payments other than your mortgage (PITI). To arrive at this amount, the lender will consider…

Your car payment
Your credit card debt & payments.
Any IRS liens or payments due.
Any other payments and debts you have (boat, second home, etc)

Then they’ll compare your total debt to your ability to make current payments with your new home loan added into the equation.

Now here’s the “catch”. Each mortgage company sets diffferent limits on your Debt to Income Ratio, which it is critically important to find the right lender!

Don’t follow the “canned” financial advice like you see on TV. Most of the advice is “rule of thumb”, and designed for the lowest credit rating and the highest rates.

Think about this….

If you spend two or three days to find a loan that saves you $40,000 to $150,000 or more overs it’s term, your time is WELL WORTH SPENT! Doing a little homework on your own will literally save you thousands over the term of your loan.

If your in the market for a new or re-sale home in the Triangle area of North Carolina call us today at Jeff Dicks Real Estate – 919-793-4730

We look forward to putting our award-winning team to work for you

Search Raleigh, Wake Forest, Cary Homes

MCLEAN, Va., May 5, 2011 /PRNewswire/ — Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), which shows mortgage rates drifting lower with the 30-year fixed-rate mortgage matching the yearly low of 4.71 percent, and the 15-year fixed hitting a new yearly low of 3.89 percent.

News Facts

• 30-year fixed-rate mortgage (FRM) averaged 4.71 percent with an average 0.7 point for the week ending May 5, 2011, down from last week when it averaged 4.78 percent. Last year at this time, the 30-year FRM averaged 5.00 percent.

• 15-year FRM this week averaged 3.89 percent with an average 0.7 point, down from last week when it averaged 3.97 percent. A year ago at this time, the 15-year FRM averaged 4.36 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.47 percent this week, with an average 0.6 point, down from last week when it averaged 3.51 percent. A year ago, the 5-year ARM averaged 3.97 percent.

• 1-year Treasury-indexed ARM averaged 3.14 percent this week with an average 0.5 point, down from last week when it averaged 3.15 percent. At this time last year, the 1-year ARM averaged 4.07 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

• “Weaker economic data reports reduced Treasury bond yields and allowed mortgage rates to drift lower for the third consecutive week. For instance, real economic growth in the first quarter fell short of the market consensus forecast and represented the slowest pace since the second quarter of 2010. In addition, both the manufacturing and service sectors exhibited growth at a slower rate in April.

• “Data reports on the housing market, on the other hand, were a little more uplifting. The National Association of Realtors^® reported pending home sales rose in March for the second month in a row to the highest index reading since November 2010. Also, the Federal Reserve reported credit standards among commercial banks for prime mortgages were unchanged on net in the second quarter of the year, following two quarters of tightening.”

Get the latest information from Freddie Mac’s Office of the Chief Economist onTwitter: @FreddieMac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

SOURCE Freddie Mac

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• HELP FOR HOMEOWNERS – HARP extended thru 2012(theraleighmortgageguy.com)
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