Fiserv said home values will fall 3.6% by next June in the U.S., which
will be a new low from the 2006 peak, down 35% from that point.

CNN
Money reports the company’s 2012 prediction might not even be the
eventual bottom, due to the massive shadow inventory of foreclosures
that has yet to even be released.

Some U.S. cities popular with
Canadians are among those expected to be hardest hit with price
decreases next year. Naples, Fla., for example, will see prices drop
another 18.9% by next June, according to Fiserv. That’s the largest
decrease in price of any metro area covered.

Las Vegas wasn’t far
behind, expected to see prices fall 15.9%, followed by Riverside,
Calif., predicted to fall another 14.8%, and Miami was projected with a
14.8% drop, according to CNN.

But other cities, already hard hit
in years past, will see some kind of recovery by next year in prices.
Oscala, Fla., for example, will see prices gain 22.4% for the 12 months
ending June 30, 2012. CNN said Oscala had already seen home prices drop
about 50% previously.

Similarly, other previously suffering
markets will gain next year, like Napa, Calif., projected to rise 20.9%
next year, and Panama City, Fla., expected to gain 18.2%.

Source Canadian Real Estate- Editorial Team

Courtesy of 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

Do you know that the best time to post things to Facebook is 8am in the
morning?  What surprises me is that one of the worst times is 3pm.

Anyways,
on to Obama’s proposed refi program.  By the sounds of it this program might be
the ticket to getting a lot of people who are underwater refinanced.  The
question is will the guidelines be relaxed enough to allow borrowers to refi and
it make sense.  Remember in order to qualify for this program your loan will
have to be owned by Fannie or Freddie and it was transferred to them before May
31 2009.  So in other words if you bought or refinanced since May 31 2009 then
your loan will not qualify.  The final details will be out Nov 15th so I will
follow up once we get that info.  In the mean time you can check to see if your
mortgage is owned by either enterprise by going to Fannie Mae or Freddie Mac

In
other news the roller coaster continues in the markets.  After the EU meeting
yesterday they agreed to boost the bailout fund and struck a deal with private
banks to accept a 50% loss on Greek bonds…Wow!.  So even though job numbers
are not the greatest and earnings reports have been so so, just knowing EU looks
like they are on track to get their problem under control gave markets a nice
warm fuzzy feeling.  With that said, Stocks are up and bonds are down so rates
are back on the higher end today at 4.25% on a 30 yr fixed….more than likely
they will increase to 4.375% by end of day.  Until the next big announcement
comes it looks like we will be treading on the higher end of our rate
outlook.

Chris Blount AES Lending

Courtesy of Jeff Dicks Real Estate

As lending standards have tightened and household incomes have shrunk, many Americans have been increasingly turning to the rental market for at least a temporary fix. Landlords are recognizing the increasing demand with higher rents.

The New York Times reported last week that the average Manhattan rent in September was US$3,331, up 6% from $3,131 a year ago and an 11% increase from 2009 when it as $3,013. The vacancy rate in Manhattan is close to 1%.

“Across New York, rents have not only rebounded from the depths of two years ago, but are also surpassing the record high of 2007 during the real estate boom,” said the New York Times report.

For some perspective, the latest average rent for a two bedroom unit in Canada was $839 in April, according to the Canada Mortgage and Housing Corporation, up 2.2% from a year earlier.

The New York Times used data from CitiHabitats, which also revealed some larger trends in the rental market. In the last quarter, just 5% of leases reviewed included concessions such as free rent or payment of broker fees, compared to 23% of leases a year earlier.

New York is not the only city to see such increases, however. Chicago saw rent hikes of 7% in 2010, and this year rents are expected to rise a similar amount, according to a forecast by Appraisal Research Counselors. Rental rates rose in every one of the 82 U.S. markets tracked by Reis Inc. this year, other than Las Vegas, while the national vacancy rate sunk below 2006 levels for the first time to reach 5.6%.

-Source Canadian Real Estate Magazine- Editorial Team

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

WAKEFIELD — The loss of three letters in Wakefield Plantation golf club’s name may be the biggest immediate change as a result of the impending purchase by a Raleigh-based golf company.
This week TPC (Tournament Players Club) Wakefield Plantation will become The Country Club at Wakefield Plantation pending the sale of the north Raleigh golf club from a Florida-based company to golf club developer McConnell Golf, LLC.
The deal’s nearly done

TPC Wakefield Plantation, a PGA Tour registered tournament players club, owned by PGA Tour Golf Course Properties of Ponte Vedra Beach, Fla., has been on McConnell Golf’s radar for a number of years, according to media reports.
Since 2003, McConnell Golf has been busy purchasing and revamping golf clubs across the Carolinas, including the Raleigh Country Club, Treyburn Country Club in Durham, The Reserve and Musgrove Mill, both in South Carolina. In the past eight years, the company has purchased seven golf courses.
Now, McConnell Golf has its eye on Wakefield Plantation and, while both PGA Tour Golf Course Properties and McConnell Golf officials declined to comment on the sale, a letter was sent out to Wakefield Plantation vendors informing them of the change in ownership effective today (Thursday).
Records confirm that a new limited liability company, The Country Club at Wakefield Plantation, was established earlier this month with McConnell Golf’s Chief Operating Officer Christian Anastasiadis listed as the new company’s person of contact.

By Leslie Rudd Wake Weekly Staff Writer

Recently, I returned from our hopefully, annual trip to Northern Michigan. We were at my wife’s parents 50th Wedding Anniversary. Quite the feat by today’s standards. Our family trip consisted of a 12 hour days drive to West Bloomfield and a quickie 4 hour tilt up to Torch Lake. I have had the opportunity to visit Torch Lake on a few occasions and to be frank, it’s one of the top fresh water lakes on the planet. Pristine sands and aqua marine colored water makes you beleive your in the Bahamas.

Not to be lost amongst our journey was my 5pm visit to the news to catch up on the daily rantings and more specifically the inability of our congressional leaders to come to a deal on the raising of the debt ceiling. I’ll admit to being a moderate however, I have never seen such a power struggle between parties.

I risk the wrath of stout Democrats & Republicans alike. My opinion of this whole mess is were caught in an election cycle, and the simple lack of moral responsibility amongst our leaders. Each side is posturing for position as the Primaries loom in early 2012.

This simply is ridiculous. I beg for for any congressional leader or senate member to put his seat on the line and tell us the truth & nothing but. Should we sacrifice the Mortgage Interest Tax Deduction, trim Social Security benefits to maintain long-term solvency, raise income taxes, all without creating class warfare?

I ‘m certainly not a politician nor would I like to be, however I wish the members of the senate & congress realize they are the few and they represent over 300 million Americans and at least put on the table and play it straight.

Ahhhh…..next year’s family holiday Torch Lake and no television.

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