This weekend in Downtown Historic New Bern...
MUMfest 2007…Now in its 27th year, MUMfest promises to be the biggest and best yet. Recognized as one of the finest award-winning family festivals in the state, MUMfest is a combination of fun and entertainment that annually attracts more than 80,000 festival-goers to the revitalized beauty of New Bern’s historic downtown and waterfront. The Southeast Tourism Society has named MUMfest as one of the top 20 events for the month of October 2007, so don't miss it!
TRYON PALACE:GARDENS OPEN FREE! October 12-14 Mum's the Word!Friday-Sunday, October 12-14 Gardens open 9 a.m. to 6 p.m. Friday and Saturday, and 11 a.m. to 6 p.m. Sunday. FREE Garden Admission, Interior tours require the purchase of a ticket. Visitors will enjoy the beauty of thousands of chrysanthemums in the Palace gardens. Free garden tours will be given each day.
GHOSTWALK:Oct 26 and Oct 27Friday, 5-9 p.m. and Saturday 10 a.m.-9 p.m. (Hollister House open 5-9 p.m. Friday & Saturday). Ticket info - call (252) 638-8558. Ghostwalk ticket holders - $3 discount off regular adult admission. Sponsored by the New Bern Historical Society, this year’s Ghostwalk celebrates New Bern’s Civil War past, with Confederate and Union soldiers, spies and other “spirits” that disclose their intriguing stories.
Don't forget to check out the many events and offerings that take place during October at...
Local Events & Information - Click HERE
Tryon Palace - Click HERE
NC Aquarium at Pine Knoll Shores - Click HERE
Friday, October 12, 2007
Thursday, October 4, 2007
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
.JPG)
Friday, September 21, 2007
Local Events
Things to do in New Bern and the Crystal Coast area!
September 21 - September 23
Crystal Coast Super Boat Grand Prix
If you're looking for excitement and feel the need for speed, then come watch the Crystal Coast Super Boat Grand Prix on the Morehead City Waterfront! Watch the Super Boat races from the Morehead City waterfront, one of the best places for up-close audience viewing on the racing circuit. The tickets for the race are $10 for adults, $5 for children ages 6 to 12 and free for kids 5 and under. Tickets may be purchased at EJW Sports and at the Port Authority gate. Military can purchase tickets at ITT aboard Cherry Point Air Station. All of the net proceeds from the race will go to benefit The Downtown Morehead City Revitalization Association. Contact Elizabeth Dixon at Kee Events for details- 252-222-3321.
September 22
Emerald Isle's 50th Birthday Celebration
Right of Way on Highway 58
Emerald Isle makes a huge splash with a full day of entertainment to mark Emerald Isle’s 50th birthday and celebrate 5 decades of family fun at the beach. We will round out the day’s festivities with an astounding fireworks display from the end of Bogue Inlet Pier at 9:00pm. Emerald Isle 50th Birthday Celebration contact is Alesia Sanderson at Emerald Isle Parks and Recreation, 7500 Emerald Drive, 252-354-6350 or asanderson@emeraldisle-nc.org.
September 22
Sunrise Kayak Trip
Explore protected marsh habitats, tidal flats & quiet backwaters- kayaks provided, ages 12 & up, $20 registration required, N.C. Aquarium, Pine Knoll Shores. Details, 252-247-4003.Start Time: 5:00 - 7:00 pm. Click here to visit Website
Coming Soon...
21st Annual NC Seafood Festival -
Friday through Sunday October 5th - 7th on the Morehead City Waterfront. Visit http://www.ncseafoodfestival.org/
27th Annual MUMfest -
Saturday & Sunday October 13th & 14th in historic downtown New Bern. Visit http://www.mumfest.com/ for information.
Don't forget to check out the many events and offerings that take place during September at...
Tryon Palace - Click HERE
NC Aquarium at Pine Knoll Shores - Click HERE
September 21 - September 23
Crystal Coast Super Boat Grand Prix
If you're looking for excitement and feel the need for speed, then come watch the Crystal Coast Super Boat Grand Prix on the Morehead City Waterfront! Watch the Super Boat races from the Morehead City waterfront, one of the best places for up-close audience viewing on the racing circuit. The tickets for the race are $10 for adults, $5 for children ages 6 to 12 and free for kids 5 and under. Tickets may be purchased at EJW Sports and at the Port Authority gate. Military can purchase tickets at ITT aboard Cherry Point Air Station. All of the net proceeds from the race will go to benefit The Downtown Morehead City Revitalization Association. Contact Elizabeth Dixon at Kee Events for details- 252-222-3321.
September 22
Emerald Isle's 50th Birthday Celebration
Right of Way on Highway 58
Emerald Isle makes a huge splash with a full day of entertainment to mark Emerald Isle’s 50th birthday and celebrate 5 decades of family fun at the beach. We will round out the day’s festivities with an astounding fireworks display from the end of Bogue Inlet Pier at 9:00pm. Emerald Isle 50th Birthday Celebration contact is Alesia Sanderson at Emerald Isle Parks and Recreation, 7500 Emerald Drive, 252-354-6350 or asanderson@emeraldisle-nc.org.
September 22
Sunrise Kayak Trip
Explore protected marsh habitats, tidal flats & quiet backwaters- kayaks provided, ages 12 & up, $20 registration required, N.C. Aquarium, Pine Knoll Shores. Details, 252-247-4003.Start Time: 5:00 - 7:00 pm. Click here to visit Website
Coming Soon...
21st Annual NC Seafood Festival -
Friday through Sunday October 5th - 7th on the Morehead City Waterfront. Visit http://www.ncseafoodfestival.org/
27th Annual MUMfest -
Saturday & Sunday October 13th & 14th in historic downtown New Bern. Visit http://www.mumfest.com/ for information.
Don't forget to check out the many events and offerings that take place during September at...
Tryon Palace - Click HERE
NC Aquarium at Pine Knoll Shores - Click HERE
Monday, September 10, 2007
Current State of Mortgage Financing...What's Going On?
Current State of Mortgage Financing...What's Going On?
Anyone watching or reading the financial news over the last few weeks has seen a lot of worry and anxiety over the state of the mortgage industry. Adding to this anxiety, several larger lenders have shut down operations and/or entire divisions while significantly reducing the types of loans they offer. But why??? What is happening, what does all this mean to you and most importantly... what should you be doing do right now to make sure you are protected?
Here's the scoop.
Over the past few years, many loans were made to homeowners with somewhat non-traditional or "non-conforming" situations. Examples could be: a poor credit history, inability to document income and/or down payment, or any number of factors that cause the loan to not fit in the traditional "box". These loans are often called "Sub-Prime", or "Alt-A", meaning that they were somewhat riskier in nature than traditional loans. Another type of "non-conforming" home loan is one where the credit and income might be perfectly fine, but the loan amount is higher than $417, 000, which is the current maximum loan that can be done and later sold to Fannie Mae (FNMA) and Freddie Mac (FHLMC). If the loan amount is higher, it can certainly be done – but it's called a "jumbo loan" - and in the end the money for Jumbos come from private institutions and investors, not from the large government sponsored entities of Fannie and Freddie.
Recently the default rates (late payments) on many sub-prime and Alt-A loans have increased. This sudden increase in late payments has made investors question whether or not they had priced enough “risk” into what they paid for a given bundle of loans. In short, these investors have decided they paid too much for these pools of loans. Further, these same investors have been reluctant to buy more pools (or bundles) of loans since the ones they already own are not performing as expected & their value is somewhat uncertain. This investor reluctance to purchase new pools of loans has caused what many have called a “liquidity crisis” in the mortgage markets. It’s sort of like these lenders are between paychecks. They need to sell the pools of loans that they made 30-45 days ago in order to have the cash to fund the loans they are making this week, but suddenly the buyers aren’t there anymore.
In response to this situation, many lenders increased their interest rates on Alt-A, Jumbo and Sub-Prime to be better prepared - and likely over-prepared - for increased risk and investor appetite down the road. And even though Jumbo loans are not suffering from increased delinquencies, like the Sub-Prime and Alt-A loans are, these rates also popped higher because they are purchased by private entities that can't afford to take on any margin of risk.
What types of loans are NOT being impacted by this crisis?
Conforming loans (those that can be sold to FNMA & FHMLC), traditionally under $417,000, have not been negatively affected. In fact, the rates on these loans have improved slightly over the same period of time. The good news here is that this is exactly the type of loan that most people get. Conventional loans account for roughly 70-75% of all mortgages made. Also, government loans including those insured by FHA and VA have not been impacted. For all of these loans, it is typically a requirement that a borrower provide income and asset documentation using pay stubs, W-2 forms, bank statements, etc.
What happens next?
The major damage is probably already done, and the present situation will likely settle out over the coming year. Lenders will stop pulling products off the shelf, and the rates on products that have moved significantly higher now should trend lower as delinquency rates stabilize. You can also bet that Congress will get involved – don’t be surprised if we see a flurry of new bills & laws designed to modify the “non-traditional” mortgage lending market.
But here are a few important things YOU should do right now:
ONE: Even if you are not presently in the market for a home loan of any type, make sure that your credit standing is as solid as possible. Some borrowers that are currently in the market for a home loan didn’t make plans to ensure their credit (and credit score) would qualify them for the best possible financing. With no immediate need for a home loan, time is on your side... why not take a few minutes and just make sure you are prepared, should a need arise down the road?
A great place to get a free copy of your credit report is www.annualcreditreport.com. It’s a site sponsored by all three credit agencies to assist consumers in knowing what lenders see when we pull your report.
TWO: If you are in the market for a home loan, or know someone who is - understand that now is the time to be working with a professional who will keep you informed of changes in the market and get your loan funded quickly. Now is NOT the time to be playing the risky game of trying to scour the entire nation (and/or internet) to find someone who promises to save you a paltry amount on closing costs, or deliver a rate that seems too good to be true.
Your home and your financing are just too important, and times have changed. I am here to help and advise during these volatile times - and would welcome calls from you, your friends, family, neighbors or coworkers.
Provided to you courtesy of:
Jeff Medlin, First Citizens Mortgage
(252)637-8226
jeffrey.medlin@firstcitizens.com
Anyone watching or reading the financial news over the last few weeks has seen a lot of worry and anxiety over the state of the mortgage industry. Adding to this anxiety, several larger lenders have shut down operations and/or entire divisions while significantly reducing the types of loans they offer. But why??? What is happening, what does all this mean to you and most importantly... what should you be doing do right now to make sure you are protected?
Here's the scoop.
Over the past few years, many loans were made to homeowners with somewhat non-traditional or "non-conforming" situations. Examples could be: a poor credit history, inability to document income and/or down payment, or any number of factors that cause the loan to not fit in the traditional "box". These loans are often called "Sub-Prime", or "Alt-A", meaning that they were somewhat riskier in nature than traditional loans. Another type of "non-conforming" home loan is one where the credit and income might be perfectly fine, but the loan amount is higher than $417, 000, which is the current maximum loan that can be done and later sold to Fannie Mae (FNMA) and Freddie Mac (FHLMC). If the loan amount is higher, it can certainly be done – but it's called a "jumbo loan" - and in the end the money for Jumbos come from private institutions and investors, not from the large government sponsored entities of Fannie and Freddie.
Recently the default rates (late payments) on many sub-prime and Alt-A loans have increased. This sudden increase in late payments has made investors question whether or not they had priced enough “risk” into what they paid for a given bundle of loans. In short, these investors have decided they paid too much for these pools of loans. Further, these same investors have been reluctant to buy more pools (or bundles) of loans since the ones they already own are not performing as expected & their value is somewhat uncertain. This investor reluctance to purchase new pools of loans has caused what many have called a “liquidity crisis” in the mortgage markets. It’s sort of like these lenders are between paychecks. They need to sell the pools of loans that they made 30-45 days ago in order to have the cash to fund the loans they are making this week, but suddenly the buyers aren’t there anymore.
In response to this situation, many lenders increased their interest rates on Alt-A, Jumbo and Sub-Prime to be better prepared - and likely over-prepared - for increased risk and investor appetite down the road. And even though Jumbo loans are not suffering from increased delinquencies, like the Sub-Prime and Alt-A loans are, these rates also popped higher because they are purchased by private entities that can't afford to take on any margin of risk.
What types of loans are NOT being impacted by this crisis?
Conforming loans (those that can be sold to FNMA & FHMLC), traditionally under $417,000, have not been negatively affected. In fact, the rates on these loans have improved slightly over the same period of time. The good news here is that this is exactly the type of loan that most people get. Conventional loans account for roughly 70-75% of all mortgages made. Also, government loans including those insured by FHA and VA have not been impacted. For all of these loans, it is typically a requirement that a borrower provide income and asset documentation using pay stubs, W-2 forms, bank statements, etc.
What happens next?
The major damage is probably already done, and the present situation will likely settle out over the coming year. Lenders will stop pulling products off the shelf, and the rates on products that have moved significantly higher now should trend lower as delinquency rates stabilize. You can also bet that Congress will get involved – don’t be surprised if we see a flurry of new bills & laws designed to modify the “non-traditional” mortgage lending market.
But here are a few important things YOU should do right now:
ONE: Even if you are not presently in the market for a home loan of any type, make sure that your credit standing is as solid as possible. Some borrowers that are currently in the market for a home loan didn’t make plans to ensure their credit (and credit score) would qualify them for the best possible financing. With no immediate need for a home loan, time is on your side... why not take a few minutes and just make sure you are prepared, should a need arise down the road?
A great place to get a free copy of your credit report is www.annualcreditreport.com. It’s a site sponsored by all three credit agencies to assist consumers in knowing what lenders see when we pull your report.
TWO: If you are in the market for a home loan, or know someone who is - understand that now is the time to be working with a professional who will keep you informed of changes in the market and get your loan funded quickly. Now is NOT the time to be playing the risky game of trying to scour the entire nation (and/or internet) to find someone who promises to save you a paltry amount on closing costs, or deliver a rate that seems too good to be true.
Your home and your financing are just too important, and times have changed. I am here to help and advise during these volatile times - and would welcome calls from you, your friends, family, neighbors or coworkers.
Provided to you courtesy of:
Jeff Medlin, First Citizens Mortgage
(252)637-8226
jeffrey.medlin@firstcitizens.com
Friday, August 31, 2007
Area Events & Information!
Things to do this Weekend in the New Bern and surrounding areas!
9/1 Jarman Opry Theater – Enjoy a classic country, gospel, blue grass show at the Masonic Theatre in Historic Downtown New Bern. Show is from 7:00pm until 9:00pm. Tickets are $10 in advance, $12 at the door and children under 12 are admitted free. For more information please contact Mr. Breck Jarman at (252) 636-6225, (252) 675-7447 or (252) 675-7689.
9/2 Picnic Paddle – 10 am – 1 pm. Bring a picnic and enjoy a canoe trek to explore a salt marsh. Canoes provided, ages 12 & up. $20, registration required. NC Aquarium at Pine Knoll Shores. 252-247-40039/3 Behind-the-Scenes: The Aquarium at a glance. 11am, 12 & 1 pm. Visit the food preparation areas, animal holding areas, and laboratories, and get a topside view of the Living Shipwreck exhibit. Ages 6 & up. $5 Registration Required. NC Aquarium at Pine Knoll Shores. 252-247-4003
9/3 Stanly-Spaight Duel Reenactment - Tour the New Bern Academy and then watch the spectacle of the September 5, 1802 Stanly-Spaight duel unfold before your eyes. In this historical reenactment of a duel between nineteenth century New Bern political rivals, costumed characters will fire reproduction flintlock pistols. The duel begins at 4pm. For more information please contact Tryon Palace Historic Sites & Gardens at (800) 767-1560 or log onto www.tryonpalace.org.
Coming Soon...
21st Annual NC Seafood Festival -Friday through Sunday October 5th - 7th on the Morehead City Waterfront. Visit http://www.ncseafoodfestival.org/
27th Annual MUMfest -Saturday & Sunday October 13th & 14th in historic downtown New Bern. Visit http://www.mumfest.com/ for information.
Don't forget to check out the many events and offerings that take place during August and September at...Tryon Palace - Click HERENC Aquarium at Pine Knoll Shores - Click HERE
9/1 Jarman Opry Theater – Enjoy a classic country, gospel, blue grass show at the Masonic Theatre in Historic Downtown New Bern. Show is from 7:00pm until 9:00pm. Tickets are $10 in advance, $12 at the door and children under 12 are admitted free. For more information please contact Mr. Breck Jarman at (252) 636-6225, (252) 675-7447 or (252) 675-7689.
9/2 Picnic Paddle – 10 am – 1 pm. Bring a picnic and enjoy a canoe trek to explore a salt marsh. Canoes provided, ages 12 & up. $20, registration required. NC Aquarium at Pine Knoll Shores. 252-247-40039/3 Behind-the-Scenes: The Aquarium at a glance. 11am, 12 & 1 pm. Visit the food preparation areas, animal holding areas, and laboratories, and get a topside view of the Living Shipwreck exhibit. Ages 6 & up. $5 Registration Required. NC Aquarium at Pine Knoll Shores. 252-247-4003
9/3 Stanly-Spaight Duel Reenactment - Tour the New Bern Academy and then watch the spectacle of the September 5, 1802 Stanly-Spaight duel unfold before your eyes. In this historical reenactment of a duel between nineteenth century New Bern political rivals, costumed characters will fire reproduction flintlock pistols. The duel begins at 4pm. For more information please contact Tryon Palace Historic Sites & Gardens at (800) 767-1560 or log onto www.tryonpalace.org.
Coming Soon...
21st Annual NC Seafood Festival -Friday through Sunday October 5th - 7th on the Morehead City Waterfront. Visit http://www.ncseafoodfestival.org/
27th Annual MUMfest -Saturday & Sunday October 13th & 14th in historic downtown New Bern. Visit http://www.mumfest.com/ for information.
Don't forget to check out the many events and offerings that take place during August and September at...Tryon Palace - Click HERENC Aquarium at Pine Knoll Shores - Click HERE
Wednesday, August 29, 2007
Olde South Construction pays 1st 2 Months Mortgage!
4003 Auburn Court
Carolina Colours
New Bern, North Carolina
Carolina Colours
New Bern, North Carolina
4002 Auburn Court
Carolina Colours
New Bern, North Carolina
Carolina Colours
New Bern, North Carolina
3501 Henna Place
Carolina Colours
New Bern, North Carolina
*This offer is valid only with an accepted contract and will not exceed $8,000 for 2 mortgage payments. Home must close within sixty days from date of contract. This offer expires October 31, 2007. Contact Olde South Construction for more details.
Carolina Colours
New Bern, North Carolina
*This offer is valid only with an accepted contract and will not exceed $8,000 for 2 mortgage payments. Home must close within sixty days from date of contract. This offer expires October 31, 2007. Contact Olde South Construction for more details.
Wednesday, April 25, 2007
2007 Spring Parade of Homes
The 2007 Spring Parade of Homes began last weekend April 14 & 15 and continues this weekend the 21st & 22nd.
The New Bern Craven County Home Builders' Association announced that this is the largest parade ever with 57 homes and 37 builders participating.
Olde South Construction will feature
4002 Auburn Court in Carolina Colours throughout the weekend. The ho me is 4 Bedrooms, 3.5 Baths, 2,682 square feet, 0.48 Acres and located on a Cul-de-Sac.
4002 Auburn Court in Carolina Colours throughout the weekend. The ho me is 4 Bedrooms, 3.5 Baths, 2,682 square feet, 0.48 Acres and located on a Cul-de-Sac.
.JPG)
Wednesday, February 7, 2007
New Bern Parade of Homes 2007
Don't miss the New Bern Craven County Home Builder Association's...New Bern Parade of Homes 2007 !
April 21st, 22nd, 28th, & 29th
One of Olde South Construction's homes in Carolina Colours will be on the tour. The 2682 square foot home features open, easy living, gathering and dining areas, formal dining room, spacious master suite, fireplace in gathering room, optional 2nd floor bonus fourth 
bedroom and bath, and 9' ceilings throughout the 1st floor.
bedroom and bath, and 9' ceilings throughout the 1st floor.Call (252)636-9911/email build@oldesouthconstruction.com to view the floor plan for this home, or let us what you're looking for in a home and we will provide you with home plans that match your criteria!
Tuesday, January 23, 2007
New Construction in New Bern, NC
Welcome to Olde South Construction's New Blog!Olde South Construction is one of the Master Builders for Carolina Colours. Carolina Colours is a new, upscale, pedestrian friendly community in the historic town of New Bern, NC. There are 1900+ planned homes, cottages, and towne homes that will be built on the heavily wooded land bordering the Croatan National Forest. The thoughtful land plan for Carolina Colours delivers both seclusion and convenience to its residents. Olde South Construction has completed a number of homes in the community already and will soon break ground on more!
Visit www.oldesouthconstruction.com for information about building with Olde South or go to www.carolinacolours.com for additional information about this community.
Subscribe to:
Posts (Atom)
