The Venture Report

FIRST-TIME HOME BUYER TAX CREDIT
As Modified in the American Recovery and Reinvestment Act

Major Modifications Italicized

February 2009

find out more….

Continue reading “First Time HOME BUYER TAX CREDIT 2009 – North Carolina”

See the Latest Real Estate Sales Trends for Charlotte and surrounding areas for the weeks of Jan. 6, 2009 through Feb. 5, 2009.

You will be intrigued to see how the market is really responding.
To see the:
1. Average days on the market
2. The average list price,
3. The average closed price

Just follow the link below…
Continue reading “Latest Real Estate Sales Trends for Charlotte – Jan. 6, 2009 through Feb. 5, 2009″

Mortgage banker: Cabarrus, Iredell look solid

Cabarrus and Iredell projected to lead with double-digit jump in percentage of households.

Despite the economic downturn that has slowed home building locally and nationwide, Cabarrus and Iredell counties in North Carolina can expect solid housing growth over the next five years, a Bank of America official said.

Cabarrus is expected to lead a four-county region with a projected 18 percent increase in its number of households through 2013, said Ken Bernardo, a senior vice president with the bank. He is the bank’s Cabarrus County market president and a mortgage sales manager.

Iredell will have a healthy increase of slightly above 17percent, well ahead of projections for Rowan and Gaston, the two other counties for which Bernardo released projections at a gathering of about 100 members of the Lake Norman Home Builders Association last week.

Gaston County can expect a 6percent increase in its number of households and Rowan County a 4percent increase, Bernardo said. He didn’t say what his projections were based on. Efforts to reach him later were unsuccessful.

Bernardo told the homebuilders that Cabarrus and Gaston will lead the study area in projected housing purchases this year; he projects there will be 6,500 home purchases in Cabarrus, 4,800 in Gaston, 3,900 in Iredell and 2,200 in Rowan. He said 40percent of sales are projected to be in the $50,000-to- $100,000 price range.

Bernardo told the Observer the projections were good news for an area that’s no longer immune to the national housing slowdown.

Several homebuilders at the gathering said many in their profession are relying on remodeling projects to stay afloat.

Elliot Eisenberg, senior economist for the National Association of Home Builders in Washington, urged those attending to contact their congressional delegations to assist the industry.

Too much is at stake for local communities, he said, to forgo federal action.

Eisenberg, keynote speaker, said the new-home construction industry, taken as a whole, generates more jobs in the Charlotte region – 18,300 – than anything but Carolinas HealthCare System and the former Wachovia, now Wells Fargo.

“Had I done this report a couple of years ago, that number would have been double,” Eisenberg said of the new-construction jobs.

Source – Joe Marusak of charlotteobserver.com
jmarusak@charlotteobserver.com

Visit Venture Companies and Larry Thompson – North Carolina Real Estate and Mortgage Experts

Mortgages are Expensive right? Not in our world. Most Realtors ,  Mortgage Brokers and Banks are caught up in a Perceived Reality that the closing cost for a Mortgage should be about 1 to 3% of the loan. This causes problems on all transactions. 

Here is how:
Purchase Price = $250,000 Continue reading “The Truth about Closing Costs & How to Make Money”

How to Pay For College with One Investment Property…

Investment properties seem to be hot topics these days. Every night you can tune into the latest infomercial showing you how to make millions with “No Money Down”. I have purchased these programs and studied the industry and I am here to tell you that it DOES work, but NOT the way they tell you to do it. As the Owner and Founder of Venture Investments, I believe that there is a right way and a wrong way to Invest. I show people the RIGHT way.

Here is my story on how I got started… Continue reading “How to Pay For College with One Investment Property….”

Hello, I’m Larry Thompson, Founder and President of Venture Companies, the most diverse Real Estate firm in Charlotte, NC today. I want to welcome you to my blog, a place to share my insights, experiences and the lessons I’ve learned from being in the Real Estate, Mortgage Financing and Investment industries for many years. Continue reading “Welcome to The Venture Report”