Below is the total market overview breakdown for all areas.

In

In his annual letter to shareholders of his Berkshire Hathaway Inc, he wrote: “Within a year or so, residential housing problems should largely be behind us,”  “Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits.”

The current real estate market has left one in five U.S. mortgage holders owing more than their houses are worth. In addition, record foreclosures last year flooded a real estate market already stocked with unsold property, causing new construction to fall to the lowest in at least 50 years.

“People thought it was good news a few years back when housing starts -- the supply side of the picture -- were running about two million annually,” said Buffett, the chairman and chief executive officer of Omaha, Nebraska-based Berkshire. “But household formations -- the demand side -- only amounted to about 1.2 million.”

Berkshire, which owns a real-estate brokerage, a business that constructs pre-fabricated houses and units that make products used in homebuilding, has suffered amid the slump. Profit at Clayton Homes, the pre-fab housing business, fell about 9 percent to $187 million before taxes, while earnings at carpet manufacturer Shaw Industries fell 30 percent. “High-value houses and those in certain localities where overbuilding was particularly egregious” will take longer to recover, he wrote.

Buffett joked that curbing home construction was the best of three ways to reduce supply. The other two, he said, would be to explode homes in a “tactic similar to the destruction of autos that occurred with the ‘cash-for-clunkers’ program” or “speed up householder formations by, say, encouraging teenagers to cohabitate, a program not likely to suffer from a lack of volunteers.”

When most people hear the word toxins, they tend to think of pollution, not dangerous chemical inside their home,  The reality is that there are many toxic products that you may be exposed to on a daily basis right in your own home. If you or someone in your home has allergies or asthma, these toxins can make it even more difficult to breathe. Below are a a list of simple changes that you can make to make your home free of these chemicals.

Cleaners: Many of the cleaning products that are sold at the store contain toxins and irritants that can cause breathing difficulties, such as bleach and ammonia. You may use cleaners on a daily basis contain many powerful cleaning agents that contain toxins that can cause problems. The good news is that there are many alternatives on the market today that do just as a good of job cleaning but are much more safer to both the environment but to those that live in your home!

Paint: Paint has traditionally been  high odor substance that contains potential toxins. There are many 'green' paint options available today that are not only low odor but that have no cancer causing toxins (also called VOCs). Look for paints that have been certified by Green Seal.  Benhamin Moore also has a Natua line of paints that are just as rich and durable, just water based and much safer.

Air Fresheners:  Eventhought they smell great, items like air fresheners, candles and fragrances contain synthetic components that can cause irritation to the lungs. In addition to irritants some can contain a chemical called 'phthalates', which has been shown to cause birth defects, hormone disruption and reproduction problems. Look for alternative candles or scents that have essential oils instead of synthetic fragrances.

Furniture: Many people don't think of furniture as being toxic but if your furniture is old and worn it main contain flame retardants called PBDE's that can cause serious health problems. These chemicals can effect brain, nervous or reproduction problems. Be informed that stain repellents on furniture can also contains toxic chemicals such as formaldehyde. Do your research before putting any repellent on your furniture.

Some additional tips that can help you to clean up the air in your home:

• Open windows whenever possible - even if it is just for a few hours. This allows toxins to escape and fresh air to circulate.
• Add houseplants - they help filter the air and add a sense of life to any home.
• Switch to natural household cleaners. They tend to be better for those with asthma and are much safer for you and the environment.
• Use a bagless vacuum cleaner with a HEPA filter

• All transactions must be arms-length and there can be no identity of interest between the buyer and seller.
• If the sales price of the property is 20 percent or more above the seller's acquisition cost, the lender must meet specific conditions for the waiver to apply.
• The waiver is limited to forward mortgages, and cannot be used under the Home Equity Conversion Mortgage (HECM) purchase program.

Read more specifics on this waiver, visit the HUD.gov release.

Regarding an article in USA Today today The housing market is beginning to stablize, with the exception of foreclosure and many areas are now recovering according to a spate of data released in the past two weeks. Nationwide, home resales in June are up 9% from January, on a seasonally adjusted basis. Sales of new homes have climbed 17% during the same period. And construction, while still anemic, has risen almost 20% since the beginning of the year.

The real estate market in the South remains one of extremes.

Taken as a whole, home resales in the 17-state region rose 10% in the first half of this year on a seasonally adjusted basis, and are off just 4% from June of last year, according to the National Association of Realtors.

"Generally speaking, the rate of decrease, both in sales and prices, has started to bottom," says the University of North Carolina's Cumbie. "But that doesn't mean it's going to come roaring back."

Mass layoffs at Bank of America and Wachovia, for example, have taken their toll in their home state of North Carolina. Home price declines in Charlotte accelerated this year, and home resales in June were off nearly 30% from last year.

Home and apartment construction, a key economic engine, will also vary widely across the region. Parts of the South, notably Florida and Atlanta, were vastly overbuilt during the housing boom. So construction in the region rose a meager 7% in the first half of the year, the lowest of the four regions, according to the Commerce Department.

There was little reason for builders to start laying new foundations. New-home sales fell 2% from January to June, the only region in the country to post a decline.

"In the longer term, I'm confident that the real estate market is going to shift where buyers are coming out not only because of attractive interest rates and low prices, but because more people are getting jobs," says Les Simmonds, president of L.G. Simmonds Real Estate Corp. in Longwood, Fla. an Orlando suburb. "But, as we speak, it's not right. It's going to take more time."

Southeast states: Alabama, Arkansas, Delaware, D.C., Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia

Data compares June vs. January and June vs. June 2008:

• Home resales: up 10%; down 4 percent

• Median price: $163,200 up 14%; down 12 percent

• New-home sales: down 2%; down 34 percent

• New home construction: up 7%; down 44 percent

• Mortgage delinquencies as of March: 12.7 percent

Regional outlook: The southern market has several characteristics that could help it recover, Cumbie says. The population continues to grow and businesses continue to move into the region. But the weight of foreclosures and job losses stretching into next year could delay any meaningful recovery.

To read this article in it's entirity - USA Today Nowhere to go but up? Housing begins slow rebound

To receive a full market analysis on your home's value in today market, please contact me.  You might be surprised.

In a measure to help bring stability to home values and accelerate the sale of vacant properties,

Currently, the FHA prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA borrowers access to a broader array of recently foreclosed properties. In today's market, FHA research finds that acquiring, rehabilitating and the reselling these properties to prospective homeowners often takes less than 90 days.

This new policy change will allow homebuyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. This will help homes to resale quickly and thus stabilize real estate prices and help to revitalize neighborhoods and communities.

This new policy waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner. To view specific conditions and other details of this new temporary policy, the details are available on HUD's website.

With consistent negative new reports on the worst recession in generations, the U.S. economy grew at the fastest pace in six years during the fourth quarter of 2009.

According to data released last week by the Commerce Department, the real gross domestic product increased at a 5.7% seasonally adjusted annual rate in the final three months of the year.  The 5.7% increase was in line with the 5.4% gain expected by economists surveyed by MarketWatch. Even with this increased growth, the economy shrank 2.4% in 2009, the worst drop since the 10.9% decline in 1946.

The current market is perfect for 

• Your have your finances in order. Becoming a homeowner, especially in a difficult economy can be financially challenging. If you have created a budget and stick with it you are on the right path. Having good money-management skills are a must-have so that when you do own a home you will be able to have a smooth financial flow for monthly home expenses.
• You have a sizable down payment of at least 20%. While this is a large amount of money to come up with it is important to have as you will start out with having some equity. There are options out there for zero or low money down loans but if you have to sell your home before you expect you can potentially loose money and you will also need to pay for PMI (priviate mortage insurance).
• You have a steady source of income. Of course in a recession there is no real thing as job security but when you buy a home you are going to be required to have a reliable source of income to cover not only mortgage payments but all the other monthly and unexpected expenses that come along with homeownership. It is important to look at how stable your source of income is as well as having an emergency savings fund where you will have enough funds to cover these expense in case of a loss of a job or other emergency.
• Your debt and credit are clean. Having a good credit score will help to not only get a home loan but will also get you a lower interest rate on your mortgage. Hold off on any large purchases such as cars before applying for a loan as this could effect your rating. Also review your credit report for free at annualcreditreport.com before even applying for the loan to check for any errors.
• You are ready for the responsibility. In addition to the financial aspect of homeownership, you need to be sure you are ready for the other things that come along. Things like lawn care, upkeep as well as unexpected repairs need to be considered as part of owing a home. 

 Once a month in the elegant setting of the Siena Hotel in Chapel Hill, NC, magician Joshua Lozoff recreates the intimate and exclusive experience of this parlor entertainment. Combining original creations with magic learned in his travels around the world, Joshua shares personal stories, fascinating illusions, and most importantly, his love for the classic art of magic.You won't see anyone sawed in half, and there's nary a rabbit nor top hat to be found, but you will have an evening of mystery, humor and wonder that you won't soon forget!

The monthly Parlor Magic shows at the Siena Hotel in Chapel Hill are going wonderfully. Each show is selling out (seating is very limited, to preserve the intimacy and spontaneity of the evening), and folks seem to be having a great time exploring mystery and wonder with him for the evening. He has added late shows in February and March. Both still have a few seats left.

And... they have extended the run through May! That's two more opportunities to experience the magic. These will be the last dates in this series of shows, so purchase your tickets now before it's sold out.

Once you

Another top reason for paying off your mortgage is the satisfaction of actually owning your home. In addition, the mortgage payment is typically the highest of a household's monthly expense, so not having to worry about that each month can bring peace of mind, especially in the case of a loss of a job or retirement. 

Some financial advisors do however advise that paying off your mortgage is a bad financial move. Some arguments that the money should be invested as to gain a  higher return in the long run. While this advise might sound good in theory there is no guarantee that a higher return can be achieved. 

Paying off your mortgage has many benefits, but the question many homeowners ask is "How?", especially in a difficult economy. Below are some strategies you can use to help you get to your payoff goal!

• Keep an eye on interest rates and, if they fall, consider refinancing. If you can reduce your interest rate, shorten the term of your loan or both, refinancing can be an excellent strategy. 
• Overpay a fixed amount every month. Even if you can afford to pay an 5-20% of your total payment, it can add up to be 1-2 extra payments a year.
• Biweekly mortgage payment plans. By paying half of your monthly mortgage payment every two weeks, you end up making the equivalent of an extra payment every year.  Instead of making 12 monthly payments, you’ll make 52/2 = 26 biweekly payments — the equivalent of 13 monthly payments. This will shave years off your mortgage. Moreover, if you’re paid on a biweekly basis, this approach might match your budgeting process better than monthly payments.

In a difficult economy paying your regular monthly obligations can be difficult, and it can be very challenging to try to make any additional payments. They key is to make an attempt, every little bit counts and gets you closer to your goal!

• As part of your plan, appoint one person in the family that will be in charge of the pet. This will eliminate any confusion as to who has responsibility and will help for a smoother move.
• Schedule an appointment with your veterinarian a few weeks before your move for a check up. Be sure to attain your pet's veterinary records so that they can be forwarded to your new veterinarian. Certain localities may have stringent requirements or restrictions regarding pet ownership. You may need permits or registrations.
• Prep your new home for pets. Pets may be frightened and confused in new surroundings. Choose a room that you can set up for them with all their familiar items such as toys, foods, bedding, etc. Pack these items in a handy spot so they can be unpacked right away.  
• If you are moving your pets by car be sure to plan for several stops along the way. Pets may find car travel extremely distressing and stopping for fresh air and breaks can help. Don't forget any medications your pet might need as well as a leash.
• If you are traveling long distance and plan on staying overnight at a hotel, be sure to call in advance to make sure that pets are accepted.
  If you are moving your fish, be sure to check with your local Aquarium or Pet Store ahead of time on the best way to safely transport your fish.
• If your pets are not micro-chipped be sure to get a new pet ID tag with your new address and contact phone numbers and if they are micro-chipped be sure to update the info with your microchip company.  

In order to install the iPhone application, simply visit my website and click on the iPhone logo link. Download the application from the iTunes App Store and enter the code 4240.

Once installed, this application uses GPS technology to help you focus on the neighborhoods and homes that matter most to you.  As the only agent that offers this application, I hope this provides great benefits to you and your home search!

If you have not made your New Year's celebration plans yet, the

Twisted Fork American Restaurant 
3751 Summer Blvd - Ste 170, Raleigh, NC 27616

The New Year's Eve dinner menu is $75 per couple and includes a complimentary champagne toast at midnight. After Party starting at 8pm at 1705 Prime with Crush for only $10 with your dinner receipt.

New Year's Eve English Country Dance
Thursday, Dec 31 8:30p
at The Ark, Durham, NC

English Country Dance on New Years Eve at The Ark on Duke's East Campus, 8:30 p.m. till midnight, Live music, No partner needed. Beginners welcome. Refreshments. Alcohol free. Clean dance shoes or socks only. $18 donation. $15 for Duke students. Children under 12 are free. Visit their website for more info: http://www.sunassembly.com

New Year's Eve Benefit Concert at United Church of Chapel Hill                     

Thursday, Dec 31 7:00p to 9:00p
at United Church of Chapel Hill, Chapel Hill, NC 
United Church of Chapel Hill, 1321 Martin Luther King Jr Blvd, will host an evening of jazz beginning at 7 pm on New Year's Eve as a benefit concert for the InterFaith Council. The Bradshaw Quartet will play and Christen Campbell will sing. A free-will offering will be taken.  As you enter the new year, enjoy good jazz and in solidarity with those in need. For more information, www.unitedchurch.org or call 942-3540.

North Carolina Symphony: New Year's Eve Extravaganza

Thursday, Dec 31 7:30p at Progress Energy Center for the Performing Arts: Meymandi Concert Hall, Raleigh, NC 
New Year's Eve Extravaganza at Meymandi Concert Hall. Located on the west side of the Progress Energy Center for the Performing Arts, is the new 1700-seat Meymandi Concert Hall. The 65 foot ceiling, the shoebox shape, the narrow sides, shallow balconies and absence of proscenium are all elements of the acoustical design that produces the warmest, clearest, most complete sound possible The Meymandi Concert Hall is the home of the North Carolina Symphony.

A recent

According to this article, the projected estimated value of green construction starts in the U.S. for 2010 is $60 billion. 10 to 12-percent of non-residential construction starts in 2008 were green. Homes that are 'green' consume 26-percent less energy and emit 33-percent less green house gases.

While the cost of building a green home can be more at first, the savings the homeowner receives in energy costs are going to pay off. Current federal tax rebates are also available to help homeowners offset costs. Benefits to the environment as well as overall health of their families are big pay offs as well.

The article showcases that theChapel Hill-Carrboro area has been highly receptive to incorporating green building into construction. In 2006, the Home Builders Association for Durham, Orange, and Chatham counties was the first branch nationally to hold a “green home” tour as part of the Green Building Initiative, a program started by the national organization.

Even though recent reports and data show a national decrease in the number of new homes being built, the

According to a recent report from the Daily Tar Heel, in October, housing starts dropped countrywide after gradually trending upward since January. The number of units started fell about 11 percent from September, according to a U.S. Department of Housing and Urban Development report released last week. The number is also down about 31 percent from October 2008.

Local realtors and developers cited a government tax credit for home buyers as a main reason for the market’s recent growth. The credit was set to expire Nov. 30, until the U.S. Senate voted to extend its availability through April.

Roger Perry, president of real estate development company East West Partners and a UNC trustee, said the national drop in housing starts may be explained by the credit’s potential expiration and may be a blip in the overall trend.

“Demand is driven by the job situation,” he said. “The number one determiner of what the market is like is job growth, not housing starts.” Employment in Orange County grew less than 1 percent from August to September, to 64,311 people.

Scott Kovens, owner of both Kovens Construction and Capkov Ventures, said the tax credit is essential to sustained growth in the real estate market.“Most business lately has been first-time buyers who never would have gotten into the market without the credit,” he said. “They really need and deserve this tax credit.”

Kovens also said the decrease in starts could be a blessing. “We need to be cautious not to overbuild. Having excess inventory hurts everybody down the chain,” he said. “Less housing starts could be a good sign that people are proceeding with caution.”

With most of that excess inventory having been cleared out, housing starts will likely increase again over the next year, Perry said.

Meadowmont Realty owner and broker Clarence Lupton, who hosted four open houses on Sunday, said the stability of the local economy will help the housing market continue to progress.

Palo Alto, Calif., resident Ken Scott, who toured one of Lupton’s open houses, said economic conditions would not substantially impact his decision to buy a new house.

“We’ve been in the same place for 28 years, and the economy’s changed many times,” Scott said. “We’re ready to move.” Kovens said Chapel Hill is a prime area for economic recovery.

“This community is not artificially sustained. An automobile plant might close, but the University and the hospitals won’t,” he said. “Here, people can have the confidence to move forward.”

After hearing nothing but bad news about the economy, finally there is a little good news to report. The November Unemployment figures came in and the Unemployment rate DROPPED.  According to

This is an encouraging sign that a recovery may finally be on the horizon and an improved economy may be in the near future.

Make sure your contractor is properly licensed. Keep in mind that even though a contractor has a license it doesn't automatically mean they will do a great job. It does however provide some financial protection for you.the customer. 

Make sure your contractor is properly insured. In addition to being licenced it is vital that your contracor have proper insurance. Always ask your contractor for a copy of their proof of liability insurance and bonding or the name and number of his/her insurance agent to call and verify proof of coverage.

Ask for references and check them! Talk to other clients that this contractor has done work for in the past. Ask them if they were happy with the quality of work, was the work completed on time? Also be sure to inquire as to if the work was completed by the agreed-upon schedule? 

Get two or three different written bids. As with any large project or purchase it is a good idea to do your research and shop around. Different contractors can vary widely on pricing and level of detail even when bidding for the same job. 

When shopping around for a contractor try to resist the urge to automatically accept the lowest bid. Take into consideration that a higher bid may be worth the price in better materials, workmanship and reliability. Most importantly ask yourself the question, do you trust this person to work on your home? Do you feel comfortable with them around your children and your  valuables?  Create a checklist of all these above items when interviewing your choices to help you make a decision.  

Anyone who has moved knows that it can be a time consuming and frustrating process. Even the best laid plan can run into a snag so being flexible is key. Below are some helpful tips that can help you to get organized so your move runs smoothly and help you save some time.

1. Change your address and notify companies before you move. Start by filling out a change of address form in advance of your move. Doing this ahead of time can help you to avoid hassles like past-due bills, service lapses and even identity theft. It is also a good idea before you move to set dates to discontinue your utilities at your old address as well as arrange for these services to be turned on at your new address. .

2. Create a moving schedule.
It is a good idea to set up a moving schedule a few months before you move. Set it up as a week-by-week checklist to manage the process and help to stay on track. A moving schedule helps you to keep track of the little details or things that may be over looked, thus helping you to avoid last minute headaches. 

3. Establish a packing system.
Packing is a major time consumer so thing about coming up with a packing system so all of your boxes end up in the right rooms when they get to your new home. Many professional movers recommend that you use the color code system where you color code each box with a particular room to avoid any confusion with the movers. It is also helpful to give your movers a floor plan of your home with each room labeled.

4. Get rid of unnecessary items.
The less boxes you pack the less you have to move and finally unpack. So it makes sense to thoroughly go thru your items and get rid of the things you just don't need. Items such as unread books, half-empty cleaning products, clothes that you know you wont wear again should be given away or sold at a garage !sale. You don't want to bring the clutter to your new home!

 Panzanella Farm Dinners
On Monday, November 23 from 5:30 to 9pm, Panzanella will offer a special Thanksgiving menu made with ingredients from local farms. Reservations are accepted for parties of 6 or more.

Pie and Wine Tasting at 3Cups
Beginning at 10am on Wednesday, 25th and lasting all day long, 3Cups will be sampling their own Thanksgiving wine six-pack and serving as a pick-up location for Scratch pies. There will also be pie sampling in the middle of the day.

Carrboro Thanksgiving Farmer's Market
Just like the usual Saturday Farmer's markets but it's the special Thanksgiving edition. Held on Tuesday, November 24 from 3-6pm at the Carrboro Town Commons. More than 25 vendors will be there, supplying shoppers with everything they need to host a completely locally-made Thanksgiving dinner.

Fridays Uncorked - Red Wines for Thanksgiving Dinner
The most common questions in our wine department this time of year involve pairings for Thanksgiving dinner. We will provide five red wines that will prove excellent companions to a turkey dinner with all the trimmings, including dessert. November 20th at 5pm. Visit this website for more information.

Thanksgiving Market at the Eno River Farmers Market
Special market on November 24th from 4-6 pm.  The market will feature all the fixings for a Thanksgiving Dinner, including sweet potatoes, salad greens, collards, turnips and brussels sprouts and more.

This bill also increases the qualifying income limits to $125,000 for single tax filers (up from $75,000 previously) and $225,000 for joint filers (up from $125,000). The purchase price of the home is still capped at $800,000.

Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. Home buyers will not have to repay the credit as long as the home remains their primary residence for at least three years. This requirement is waived for active duty military personnel who are forced to move due to a military order.

Deadline for qualifying: Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30. Military deadline: The deadline is extended by a year for members of the military who have served outside the U.S. for at least 90 days from Jan. 1, 2009, to May 1, 2010.

Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill, the government will issue a payment. Taxpayers who want immediate refunds can amend their tax returns for 2008 to claim the credit.