Downtown Raleigh Living Tour – 2012 and more…

Downtown Raleigh Living Tour 2012 LogoA lot to choose from this weekend!

Come out tomorrow and enjoy the Downtown Raleigh Living Tour.

My office and event sponsor RE/MAX City Centre will provide free hot air balloon rides after the tour (6:30-8:30 PM, weather permitting; first come, first served) behind Peace University.  Get your Tour brochure stamped at four featured locations to be eligible for this FREE ride!

There is also the Downtown Raleigh Chicken Living Tour – not the official event name.  The 7th annual Tour D’Coop is being held tomorrow.

Additionally, this weekend you have the option of exploring all the good stuff provided by Artsplosure at Moore Square and City Plaza.

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Museum of Natural Sciences

   
We’ve enjoyed watching this giant globe evolve in downtown Raleigh.  It’s part of the expansion of the Museum of Natural Sciences.  These photos are from mid-2011.

24-Hour Grand Opening takes place on 20-21 April.  Here’s the link: http://naturalsciences.org/programs-events/grandopening

Enjoy.

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Mortgage and Mobility

Here’s an interesting relationship.  Folks living in “underwater” homes (worth less than the mortgage) are less likely to move than folks not burdened with that financial problem.

A December 2011 Wharton article estimates that mobility drops 30% for homeowners with negative equity.  Seems like a reasonable relationship – you don’t really realize a loss until you sell.  So, don’t sell and don’t move.  If possible, folks are hanging onto their homes, hoping market improvements will bail them out.

The number of Americans changing their address is at the lowest point since the Census Bureau began tracking that stat in 1948.

Here’s the next relationship – Reduced mobility apparently increases the unemployment rate.

You can see a crazy spiral with underwater homeowners potentially finding themselves in further financial hardship and ultimately forced to vacate (and perhaps take a credit hit).   Cumulatively not good for the economy, housing market, unemployment rate or for the unfortunate homeowners directly involved.

Depending on particular circumstances, distressed homeowners with Fannie or Freddie guaranteed mortgages may want to investigate government programs such as HAFA (Home Affordable Foreclosure Alternatives).  If mortgage modification is not appropriate, HAFA can ease the Short-Sale process and provide $3,000 in relocation assistance.

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National Mortgage Settlement

Of the 49 States (plus DC), who participated in the $25 billion mortgage settlement with 5 leading lenders, North Carolina ranks number 14 in dollars with about $338 million.  $275 million will be made available to North Carolina distressed homeowners and ex-homeowners who were victims of unfair foreclosure practices (if that foreclosure took place after 1 Jan 2008).  Another $64 million will go to the State for various associated uses.

I haven’t yet found a breakdown by county.
More information is available at the National Mortgage Settlement website.

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Occupy Raleigh

Occupy RaleighHere’s an early morning photo of the Occupy Raleigh encampment.  Occupy Raleigh has been allowed to stage their event on private property near downtown. So, they don’t feel the pressures of Occupy groups in other cities.

Though the Occupy movement has some good things to say, they seem to now lack focus or a central voice (unless I’m missing something).  They are expressing legitimate anger but don’t seem to have a direction from here.

I wonder if some of these folks were once, but no longer, homeowners — perhaps affected by the recent housing meltdown.

Just a couple of days ago, the US Department of Justice announced a settlement with 5 major banks accused of robo-signing and other questionable foreclosure practices.

It’s a $25 billion settlement between the banks and most of the States.  The Feds are stepping back and handing the reins to States Attorneys General to drive it from here. Details are being worked out.

Not everyone agrees that this settlement is appropriate, but it may be a good first step in fixing the foreclosure mess.
More to come.

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Foreclosure Rate Heat Map for North Carolina

To follow yesterday’s post. Here’s the RealtyTrac December 2011 Foreclosure Rate Heat Map for North Carolina.  Drill down to your county and zip code.

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Foreclosure Rate Heat Map

Here’s the December 2011 foreclosure rate heat map from ReatlyTrac.  Interesting visual.   The bright side for North Carolina is the top 20 metro foreclosure rate list for 2011 did not include any North Carolina cities.  California and Nevada cities took the top spots.

On the down side, foreclosures are expected to increase in 2012 as effects of the robo-signing scandal fade.

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Williamson House Video

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Art Walk and Candlelight Tour

Two excellent annual events coming soon.

Boylan Heights 19th Art Walk is being held on December 4th.  Lots of wonderful art will be displayed on porches and in homes of Boylan Heights residents.  Good local shopping.

Historic Oakwood presents the 40th Candlelight Tour of Homes on December 10th and 11th.  A great way to enjoy one of Raleigh’s most unique neighborhoods and view many of it’s historic homes.

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Williamson House

Elegant plantation house in Louisburg Historic District. Originally part of an expansive 90-acre plantation known as Fox Swamp. The house retains its historic grandeur and is a comfortable walk to the heart of downtown Louisburg.

Photo of Williamson House, Louisburg NC

Williamson House

Its remaining 1.7-acre historic landscape features mature magnolias, hollies, oaks, pecans, and crepe myrtles, and is accentuated with an original sunken alley lined with English boxwoods.

Restoration of the home has been completed by Dean Ruedrich, owner of Ruedrich Restorations and winner of the prestigious Robert E. Stipe award, the highest honor presented to working professionals who demonstrate an outstanding commitment to preservation in North Carolina.

“The restoration of this house has been a great adventure,” says Ruedrich.  “It’s amazing what an old building will tell you if you know how to listen.”  Mason P.W. Motley signed several bricks in the foundation before they were fired.  Motley was the son-in-law of Gamaliel Jones, the architect and builder of the Main Building at Louisburg College as well as prominent houses throughout the area.  “Not long after we started work, we also found a brick with the date 1858 scrawled into it,” says Ruedrich.  “You’re rarely that lucky”.

A grand central hallway and thirteen-foot ceilings provide a feeling of spaciousness throughout the house.  Aside from being fully restored and modernized, the woodwork and other interior features have been little altered.  No two of the house’s five mantles – originally decorated with gold leaf – are the same.  Faux painting techniques were used to make the heart pine doors look like oak and rosewood.  The baseboards are marbleized. One hundred and fifty-three years after construction, the unbled heart pine siding, shutters, and porch posts are in perfect condition.  “Kept painted, this wood will last another 150 years at least,” says Ruedrich.  Unbled pine is timber harvested from trees not already tapped for resin.

While the Tempie Perry Williamson House is a window into pre-civil war North Carolina, two other structures on the property provide insight into the centuries before and after.  Ruedrich adopted and moved in an eighteenth-century orphan.  Georgian-style Hawkins Law Academy was built in 1790 and originally located north of Louisburg in the community of Ingleside.  “It was ready to meet its maker”, says Ruedrich, who had the building moved on a flatbed trailer, its roof disassembled to clear power lines.  “We scooped up the old granite stones and had a mason from Warren County relay the foundation and chimney”.

Photo of QR Code for Williamson House

QR Code for Williamson House

Also featured is a one-room ticket booth from the early twentieth century that was built for the Franklin County Fair.

The Perry family had the largest land holdings in Franklin County before the civil war.  Among Tempie Perry Williamson’s slaves was John Williamson, who after the war became a prominent black legislator and founder of the Raleigh Banner and Raleigh Gazette.

Williamson House is listed on the National Register of Historic Places.
This is a synopsis of a write up by Cynthia Satterfield that can be found at TempiePerryWilliamsonHouse.com

Also check out Flikr and use the QR Code in the photo.

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