Sociable
Monday, December 3, 2012
have You Ever Thought of Investing in Real Estate?
Have you ever thought of investing in real estate in Asheville, NC? Were you afraid to step up and take the leap? Are you wondering if its a good investment? Does the economy have you scared to death?
Many of you have answered yes to one or more of these questions. If so, take hold of your financial future and call us. Real estate in Asheville is more affordable than it has been in many years and interest rates are at an all time low. The combination of pricing and low rates makes it the perfect time to buy investment property.
My husband and I have been buying and selling investment property in Western North Carolina since 1990 and currently hold a retirement portfolio that will allow us in just a few years to enjoy the rest of our lives comfortably. I don't say that to brag, I say it to let you know that we can help you get started with, or add to, your real estate investments.
Whether you are looking for rental property or to fix and flip, we will help you find what you are looking for. Click here to see some examples of investment property currently on the market.
Or call us to make an appointment to start looking today. Don't wait. Start your retirement now!
Pat Puckridge, CRS,GRI,ABR,SRES,PHP,AHWD
ASHEVILLE'S DREAM TEAM
KELLER WILLIAMS REALTY
Monday, November 19, 2012
Live Like Somebody Left the Gate Open
It's so hard to mentally accept this "old age" concept. Intellectually I know I'm a senior but emotionally and even physically, I don't feel older than I did in my 40's.
I should be starting to wind down as far as work interests go but I'm not. Technology is so stinking interesting, I wish that I was 40 so I would get to see all the cool stuff that is still to come. You youngsters are so fortunate to be preparing yourselves for a huge adventure.
I do look at the earth and worry that things are not going well but I have to think that some of our young geniuses will get it together and figure out how to keep the world turning and as glorious as it is now. Still, that's a bit worrisome.
But, from the eyes of a senior, the future is going to be more amazing than I can imagine and I envy you young people. I hope you realize how much fun you are going to have. Even though I won't have as much time as you will, I'm going to squeeze every possible ounce of knowledge into that time and enjoy every possible minute.
How many of you "seniors" are with me?
Thursday, October 11, 2012
Tell Me Something....Bad!
Tell me something.....bad!
It continues to amaze me that our best friends, relatives, business associates and closest confidants refuse to tell us they are in trouble with their homes...their HOMES!!
"No....I'm not behind on my payments...you know I make a bunch of money....why would you ask me that?"-------------- That space is their embarrassment when the bank has called to ask where to send the short sale papers and, you are calling your friend to find out what is going on.
I know we are not doctors or lawyers and, there is no implied privacy, but there should be implied trust that you will take care of them and their families to the best of your ability and with the most discretion legally possible.
I understand embarrassment but it's your HOME!!...so you wait until you are three payments behind to finally disclosure that your house is being foreclosed on.
What were you thinking? I'm your Realtor and, as such, have only your best interest in mind. Embarrassment versus homelessness...I'm thinking that's a nobrainer.
How about you?
Pat Puckridge, CRS,GRI,ABR,SRES,PHP,AHWD
ASHEVILLE'S DREAM TEAM
KELLER WILLIAMS REALTY
Saturday, July 7, 2012
Illusive Choices
I've come to the conclusion that we do with our time what we want to do. I'm piled up in bed and can't do anything but watch TV( yuk) or read. So then there's the choice of reading...do I pick the trade journal that I need to read, do I pick the trade journal I want to read or do I pick that novel I've been promising myself to read. I know I have several weeks in the bed so that tells me there's plenty of time for the trade journal. Then there's the novel that I know I will enjoy but is a totally worthless endeavor. So, of course, I pick the fun stuff...Success Magazine...something for everyone. Here I go. More later.
North Asheville is a wonderful part of our Community
North Asheville is a wonderful part of our Community
North Asheville is a wonderful part of our community
that many people visiting our town don't actually see. The unofficial
boundaries could be Broadway on the west, downtown on the south, Beaver
Lake on the north and Charlotte Street on the east. Like I said,
unofficial boundaries.
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| Grove Park Inn |
Grove Park
The largest attraction to North Asheville would be Grove Park Inn and Country Club. The history that goes with this complex dates back to the 1800's with its construction by E. W. Grove. The building of the main hotel was a long and arduous task but, since that time, the hotel has grown into a world renowned resort and has hosted numerous celebrities over the years including William Jennings Bryan (who
spoke at the hotel's opening), Thomas Edison, Henry Ford, Harvey Firestone, Elbert Hubbard, Woodrow Wilson, John D. Rockefeller, Gen. John J. Pershing, Dean Smith, and many others.
spoke at the hotel's opening), Thomas Edison, Henry Ford, Harvey Firestone, Elbert Hubbard, Woodrow Wilson, John D. Rockefeller, Gen. John J. Pershing, Dean Smith, and many others.
As is frequently the case, an historic community was built up around the Inn in the years after its construction. Most of the homes are still there, making Grove Park one of the premier neighborhoods in town. Large, stately homes, mingled with newer construction offer a beautiful place for anyone to live.
In addition to Grove Park, Lake View Park was established in the late 1800's and is very well thought of by residents looking for a close knit upscale community with Beaver Lake, Asheville Country Club and Golf Course as the centerpieces for this easy style of living. Historic Beaver Lake and the adjoining properties are privately owned and maintained by the residents of Lake View Park. The park and lake is enjoyed by both Lake View Park residents and guests for activities such as jogging, running, walking, biking, bird watching, watching the sun set, picnicking, boating, and fishing.
Overlooking Interstate 26 and the surrounding mountains, Reynolds Village is North Asheville's first large-scale, planned, mixed-use development. Anchored by the successful neighborhood YMCA of Woodfin, The Lofts of Reynolds Village luxury apartments and the Reynolds Mansion Bed and Breakfast Inn, include a rich mix of upscale, pedestrian-friendly cafés, restaurants, hotels, neighborhood shops, offices and residential offerings.
Tuesday, May 29, 2012
THE NORTHERN STATES: ARE THEY WORSE FOR RETIREES?
May 22, 2012
The most popular city was Asheville, North Carolina, which has topped the list since 2007. It received "more than 25 times as many page visits as Princeton (NJ)," Brady says. "Asheville’s reputation as a great place to retire, its mountains, gentle four-seasons climate and recreational/cultural opportunities all make it the standard that all other retirement towns can aspire to," he adds.
If "get outa Dodge" is tops on your retirement checklist, then you likely live in one of the Northern states, where, to twist a lyric, "often is heard a discouraging word." You've probably thought (or said) "When I retire, I want to live somewhere that has..." and cited "better weather," "lower tax rates," "lower cost of living," "quality health care" or "family."
But is your state really in a sad state? That's a difficult question to answer. You'd need to start by doing a lot of research, and doing it objectively.
So, we decided to check several sources that have tackled the question analytically and objectively, or by polling readers. Finding a list of "Best Places to Retire" is easy; such sources as AARP, CNN/Money Magazine, Forbes, US News, Yahoo and others who churn them out every year. But flipping those lists on end - finding a list of "Worst Places to Retire"... well, not too many sources want to bite the hands that feed them (ie: risk losing advertisers).
We found three.
In January 2012, a collaborative effort by the Wall Street Journal's MarketWatch and the website TopRetirements.com produced a list of "The 10 Worst States for Retirees in 2012." And a number of reputable publications (print and online) have touted a Money-Rates.com ranking of the "10 Worst-Rated States for Retirement" that was released in late 2011.
Here's how they compare (from worst to 10th-worst):
Rank MarketWatch Money-Rates
1. Connecticut Maine
2. Illinois Michigan
3. Rhode Island Massachusetts
4: Vermont Connecticut
5. Massachusetts Alaska
6: New Jersey Maryland
7: Minnesota Rhode Island
8. New York Washington
9. Maine New York
10: Wisconsin Wisconsin
1. Connecticut Maine
2. Illinois Michigan
3. Rhode Island Massachusetts
4: Vermont Connecticut
5. Massachusetts Alaska
6: New Jersey Maryland
7: Minnesota Rhode Island
8. New York Washington
9. Maine New York
10: Wisconsin Wisconsin
But, before we get into the "nitty-gritty" - the "why" these states failed to pass retirement muster - you need to look at the factors used, identify which are most important to you, then see whether you might agree or disagree with the rankings.
MarketWatch based its 2012 list on five factors - fiscal health, property taxes, income taxes, cost of living and climate. Money-Rates, however, also looked at such factors as crime rate, climate, life expectancy and such economic conditions as taxes, job opportunities and cost of living. Note that "family" isn't on either list - because that's one factor than can't be measured subjectively.
After you've written down the factors that matter most to you, rank 'em - decide which are most important to you. Taxes, of course, are an important factor, but are taxes in your state so steep that you'd want to give up a White Christmas? And keep three words uppermost in your mind as you read the reasons for the rankings: "family and friends". Maybe the thought of leaving long-time friends or moving closer to the grandkids makes high tax rates bearable.
CLIMATE
This is one factor that all sources based on an assumption - and one - TopRetirements.com - was rather blunt: "We believe the majority of today’s retirees have a bias towards places with warmer winters," so it gave "states north of the Mason-Dixon line ... a negative 1 point for their colder climate." The website Market-Rates.com was a bit more gentle: "There are warm-weather people and there are cold-weather people, but most seem to like moderation," so each state's climate score "was based on the deviation of monthly temperatures from 68 degrees." In other words, the smaller the deviation, the higher the ranking for the state.
This is one factor that all sources based on an assumption - and one - TopRetirements.com - was rather blunt: "We believe the majority of today’s retirees have a bias towards places with warmer winters," so it gave "states north of the Mason-Dixon line ... a negative 1 point for their colder climate." The website Market-Rates.com was a bit more gentle: "There are warm-weather people and there are cold-weather people, but most seem to like moderation," so each state's climate score "was based on the deviation of monthly temperatures from 68 degrees." In other words, the smaller the deviation, the higher the ranking for the state.
COST OF LIVING
All sources deemed this a critical factor. For example, MarketWatch.com states, "Make no mistake about it, the higher the cost of living, the lower your potential standard of living." It adds that TopRetirements.com "awarded states with the highest cost of living one negative point." Market-Rates.com lumped this into its "Economics factor," but explained that each "state's cost of living is a key consideration for retirees who often have their wealth in conservative investments and savings accounts."
All sources deemed this a critical factor. For example, MarketWatch.com states, "Make no mistake about it, the higher the cost of living, the lower your potential standard of living." It adds that TopRetirements.com "awarded states with the highest cost of living one negative point." Market-Rates.com lumped this into its "Economics factor," but explained that each "state's cost of living is a key consideration for retirees who often have their wealth in conservative investments and savings accounts."
CRIME
Only Market-Rates.com listed this as a factor. It explains that "Both violent and property crimes were measured and ranked, and then those rankings were combined to come up with an overall crime rating."
Only Market-Rates.com listed this as a factor. It explains that "Both violent and property crimes were measured and ranked, and then those rankings were combined to come up with an overall crime rating."
FISCAL HEALTH
This isn't about your financial status, but your state's condition. MarketWatch states that John Brady, president of TopRetirements, is concerned that "some states are spending more money than they take in and are in serious trouble." Brady examined each state’s deficit, unfunded pension liabilities, unemployment rates and foreclosures, then crunched those numbers to award a maximum of one point in the rankings. Brady also credits the Pew Center on the States' exhaustive study "The Widening Gap" as providing "a good understanding of the problem. But why lump all four factors together? "Just think about the turmoil Greece and Spain are experiencing as they are finally starting to address their deficits and borrowing," Brady says. "Social services are being cut, taxes are being raised, and there is civil unrest." Brady adds that, "for states that run into financial trouble, the pain will be acute when the piper is paid, and you probably don’t want to be part of it." In tabulating each state's "Fiscal Health" ranking, "we combined these factors; if a state was in the top 10 for all four problems, it received 1 negative point in the rankings."
This isn't about your financial status, but your state's condition. MarketWatch states that John Brady, president of TopRetirements, is concerned that "some states are spending more money than they take in and are in serious trouble." Brady examined each state’s deficit, unfunded pension liabilities, unemployment rates and foreclosures, then crunched those numbers to award a maximum of one point in the rankings. Brady also credits the Pew Center on the States' exhaustive study "The Widening Gap" as providing "a good understanding of the problem. But why lump all four factors together? "Just think about the turmoil Greece and Spain are experiencing as they are finally starting to address their deficits and borrowing," Brady says. "Social services are being cut, taxes are being raised, and there is civil unrest." Brady adds that, "for states that run into financial trouble, the pain will be acute when the piper is paid, and you probably don’t want to be part of it." In tabulating each state's "Fiscal Health" ranking, "we combined these factors; if a state was in the top 10 for all four problems, it received 1 negative point in the rankings."
INCOME
Some retirees rely soley on such fixed income sources as Social Security and IRAs; others dabble in the market. And some just don't fully retire. So Market-Rates felt "unemployment was also included as an important indicator of the overall economic health of an area," adding that, "with more and more seniors continuing to work at least part-time, this factor is a relevant consideration even when choosing a retirement destination." MarketWatch expounds on TopRetirement's analytical approach: "When you look at the various sources of income for the average American age 65 and older, you’ll note at least one interesting fact: Earned income represents nearly 28% of total income for the average American age 65 and older. By contrast, Social Security represents nearly 37% of total income." Put another way: "Two-thirds of total income comes from two sources — work and Social Security." So, it concludes, "That means, where you live while you work after age 65 could make a big difference in your take-home pay." For its study, TopRetirements' Brady created a hypothetical couple that had $70,000 in income from Social Security, earnings, pensions and retirement savings.
Some retirees rely soley on such fixed income sources as Social Security and IRAs; others dabble in the market. And some just don't fully retire. So Market-Rates felt "unemployment was also included as an important indicator of the overall economic health of an area," adding that, "with more and more seniors continuing to work at least part-time, this factor is a relevant consideration even when choosing a retirement destination." MarketWatch expounds on TopRetirement's analytical approach: "When you look at the various sources of income for the average American age 65 and older, you’ll note at least one interesting fact: Earned income represents nearly 28% of total income for the average American age 65 and older. By contrast, Social Security represents nearly 37% of total income." Put another way: "Two-thirds of total income comes from two sources — work and Social Security." So, it concludes, "That means, where you live while you work after age 65 could make a big difference in your take-home pay." For its study, TopRetirements' Brady created a hypothetical couple that had $70,000 in income from Social Security, earnings, pensions and retirement savings.
LIFE EXPECTANCY
We felt Money-Rates use of this factor was a bit risky since it admits, "A number of factors, from genetics to lifelong habits, go into determining life expectancy," and those have little to do with location. But it was used because "it is also an indicator of the health of an area's environment and the quality of the medical care available."
We felt Money-Rates use of this factor was a bit risky since it admits, "A number of factors, from genetics to lifelong habits, go into determining life expectancy," and those have little to do with location. But it was used because "it is also an indicator of the health of an area's environment and the quality of the medical care available."
TAXES
How important are taxes in deciding where to live? Important enough to make a distinction between property and state income taxes. TopRetirements folded the latter into its "Fiscal Health" category, but explained, "We think too many baby boomer retirees focus too much attention on state income taxes as a reason to move... unless you have a lot of income, they are not a factor." Using data from the Congressional Research Service. TopRetirement's Brady said the site based its scores by focusing on an annual income of $70,000 from Social Security (20%), pensions (23%) and earnings and retirement savings (47%), and used the website tax-rates.org to estimate income taxes for each state. Brady is quick to add that, "If your joint earnings are significantly below $70,000, this rating component is probably not significant." Property taxes, on the other hand, were labeled by MarketWatch and TopRetirements as "the most oppressive for retirees" and "bear no relation to one's income." Money-Rates folded taxes together and included them in the "Economics" factor.
How important are taxes in deciding where to live? Important enough to make a distinction between property and state income taxes. TopRetirements folded the latter into its "Fiscal Health" category, but explained, "We think too many baby boomer retirees focus too much attention on state income taxes as a reason to move... unless you have a lot of income, they are not a factor." Using data from the Congressional Research Service. TopRetirement's Brady said the site based its scores by focusing on an annual income of $70,000 from Social Security (20%), pensions (23%) and earnings and retirement savings (47%), and used the website tax-rates.org to estimate income taxes for each state. Brady is quick to add that, "If your joint earnings are significantly below $70,000, this rating component is probably not significant." Property taxes, on the other hand, were labeled by MarketWatch and TopRetirements as "the most oppressive for retirees" and "bear no relation to one's income." Money-Rates folded taxes together and included them in the "Economics" factor.
OTHER FACTORS TO CONSIDER
We've already mentioned family and friends. But TopRetirements says other points to consider when assessing your state - or the state you're considering for relocation - are:
We've already mentioned family and friends. But TopRetirements says other points to consider when assessing your state - or the state you're considering for relocation - are:
- Sales taxes (Not usually a deal breaker, but annoying)
- Inheritance and Estate taxes (Some states have neither, a few have both)
- Recreation
- Transportation
- Healthcare
- Education (including colleges)
- Cultural, natural resources
- Fitting in socially, politically, religiously
- Inheritance and Estate taxes (Some states have neither, a few have both)
- Recreation
- Transportation
- Healthcare
- Education (including colleges)
- Cultural, natural resources
- Fitting in socially, politically, religiously
TopRetirements.com also ranked the "100 Best Places to Retire" for 2012 (meaning both state and city), but website president John Brady says, "It is important to note that our list uses criteria that are quite different from" its Worst States list. This list "is essentially a popularity contest; it reflects the towns that visitors to this ... website are most interested in for retirement. The list was compiled by calculating the 100 towns that receive the most online visits ... during the last 6 months of 2011."
At the bottom of that list are what could be collectively labeled the "10 Worst Places to Retire" (not to be confused with "Worst States") - cities that received the fewest hits in 2012:
91. Seattle, WA
92. Walla Walla, WA
93. Pinehurst, NC
94. Winchester, VA
95. Corpus Christi, TX
96. Fayetteville, AR
97. Halifax, CAN
98. Smyrna, DE
99. Hilton Head, SC
100. Princeton, NJ
92. Walla Walla, WA
93. Pinehurst, NC
94. Winchester, VA
95. Corpus Christi, TX
96. Fayetteville, AR
97. Halifax, CAN
98. Smyrna, DE
99. Hilton Head, SC
100. Princeton, NJ
The most popular city was Asheville, North Carolina, which has topped the list since 2007. It received "more than 25 times as many page visits as Princeton (NJ)," Brady says. "Asheville’s reputation as a great place to retire, its mountains, gentle four-seasons climate and recreational/cultural opportunities all make it the standard that all other retirement towns can aspire to," he adds.
But, this isn't about the "Best," but the "Worst." To find out why Northern states fared so poorly (hint: it's not just the weather), be sure to read Part II of "The State of Northern States: Are They the Worst for Retirees?" which we'll be sending your way within a few days.
Courtesy of www.southeastdiscovery.com
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