team freeman: Charlotte, NC - Team Freeman Real Estate - Bank of America - 01/22/09 09:41 AM
Bank of America Corp., reports a fourth-quarter net loss of $2.39 billion, or 48 cents per diluted share. The news comes on the same day the Charlotte-based bank says it will slash its dividend to one cent per share from 32 cents and accept an additional $20 billion in bailout money.
The federal funds are in addition to the $25 billion BofA has already received under the Troubled Asset Relief Program, which is designed to unfreeze the credit markets and boost the economy.
BofA earned $215 million, or 5 cents per diluted share, in the fourth quarter of 2007.
The latest … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Bank of America - 01/22/09 09:38 AM
An Italian court has acquitted Bank of America Corp. of charges related to events before April 2002 in a trial of five banks, Dow Jones Newswires reports. The case revolves around the collapse of Parmalat Finanziaria SpA, the Italian dairy conglomerate that collapsed in December 2003 in one of Europe's biggest financial scandals.
An Italian judge ordered BofA to go to trial on allegations that it failed to prevent three former employees from market rigging in connection with Parmalat. The former employees faced charges for vetting a news release issued by Parmalat in 1999 that Italian regulators claim was misrepresentative.
The … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Charlotte Hotels Occupancy Falls - 01/22/09 09:32 AM
Occupancy at Charlotte-area hotel rooms fell to 49 percent in November, down 17 percent from a year earlier.
According to data from the Charlotte Regional Visitors Authority, local hotel occupancy fell 8.2 percent in the first 11 months of last year to 61.6 percent.
By comparison, in the first 11 months of 2008, hotel occupancy fell 4 percent in the United States and 6.6 percent in North Carolina.
The average room rate in the Charlotte area fell 1 percent to $81.40 in November.
For the first 11 months in 2008, the average daily rate was $87.36, up 4.9 percent from the … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Family Dollar Raises Dividend 8% - 01/22/09 09:30 AM
Family Dollar Stores Inc. has increased its quarterly dividend by 8 percent.
The Matthews-based discount chain has declared a quarterly cash dividend on its common stock of 13.5 cents per share, payable April 15 to shareholders of record on March 13.
The company's previous quarterly cash dividend was 12.5 cents per share.
"Increasing our dividend for the 33rd consecutive year reflects our confidence in the long-term growth opportunity for Family Dollar," says Howard Levine, chief executive.
Last week, the company reported a 14.1 percent increase in earnings for its first fiscal quarter ended Nov. 29.
Family Dollar earned $59.3 million, or … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - IKEA readies for Charlotte opening - 01/22/09 09:27 AM
Swedish home-furnishings giant Ikea is putting the final touches on its first Carolinas store, which opens in five weeks in the University area.
The 356,000-square-foot store will be one of the chain's largest. It will feature three model homes and 49 room vignettes, including 17 kitchens. Shoppers will be able to buy more than 10,000 exclusively designed products - from furniture to art, tableware and even food.
Ikea is known for low-priced furnishings that customers assemble at home.
But it has expanded its offerings and services in recent years. For example, complete kitchen setups can be purchased from about $1,800 to … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - B of A Stocks Plummets - 01/22/09 09:25 AM
Bank of America Corp.'s stock, which had already dropped more than 27 percent this month, fell another 18 percent in Thursday trading.
BofA's stock, which has traded between $10.01 and $45.08 over the last year, closed at $8.32 per share Thursday, down from Wednesday's closing price of $10.20.
The drop in value follows a report from The Wall Street Journal late Wednesday that the federal government may commit billions more in aid to BofA as it acquires Merrill Lynch & Co. Inc.
According to the report, which cites individuals familiar with the situation, discussions over the funds began last month when … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Charlotte DOT - 01/22/09 09:21 AM
Danny Pleasant has been named director of the Charlotte Department of Transportation.
Pleasant became interim director after the retirement of Jim Humphrey in late 2007. He has worked in executive positions at the department for seven years.
The department is responsible for Charlotte's road planning and operations.
"Danny has proven to be an effective leader during his tenure as interim director, helping to position Charlotte as a national model for land-use and transportation choices," says City Manager Curt Walton. "His strategic planning and urban design expertise will help guide the city as we prepare for the future in terms of managing … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Corporate tax cut - 01/22/09 09:19 AM
N.C. General Assembly lawmakers have authorized the drafting of legislation that would cut the state's corporate income tax rate and make fundamental changes to the incentives the state uses to lure companies to North Carolina.
A 13-year-old system of tax credits - the William S. Lee program, which was revised into Article 3J in 2007 - essentially would be gutted. In its place, the state would pump more money into its largest cash-for-jobs grant program and shave the corporate income tax rate to 6.5 percent from 6.9 percent.
The bill will be offered by the Joint House/Senate Incentives Committee, which has … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Inflation Rate at Lowest in 50 years - 01/20/09 01:58 PM
The United States posted its lowest rate of inflation in more than 50 years in 2008, mainly because of a record plunge in gasoline prices.
The U.S. Department of Labor says consumer prices dropped 0.7 percent in December, and rose just 0.1 percent for the year.
The small uptick last year was much lower than the 4.1 percent gain in 2007, and the smallest year-over-year change since 1954, when consumer prices fell 0.7 percent.
For December, gas prices fell 17.2 percent, the largest monthly decline in records that go back 71 years. Overall energy prices also dropped a record 8.3 percent … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Mortgage Update - 01/20/09 01:52 PM
MMG Update + By The Numbers - Tuesday, January 20, 2009 10:19AM ET
Current Trend Direction: Sideways
Risks favor: Floating
Current Price of FNMA 4.0% Bond: $100.06, -12bp
Today marks the inauguration of Barack Obama, America's 44th president. President-Elect Obama has an arduous task ahead of him as he takes control of a nation that is in the midst of one of the worst economic downturns since the Great Depression.
There are no economic reports due for release today - but that hasn't meant much lately as Mortgage Bonds have traded in volatile fashion without the spark of economic news...and today … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Market Watch - 01/19/09 01:20 PM
The average interest rate for a 30-year fixed-rate mortgage fell below 5 percent last week, prompting many homeowners to investigate refinancing options, according to a report by real estate Web site Zillow.com.
For the week ended Jan. 11, the average 30-year rate in the United States was 4.92 percent, down from 5.10 percent the week before, according to the Zillow Mortgage Rate Monitor.
North Carolina experienced an almost identical drop, to 4.92 percent, from 5.09 percent.
Arizona had the lowest average rate last week at 4.80 percent, and Michigan had the highest, at 5.05 percent.
Seattle-based Zillow compiles rates quoted by … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Home Improvement Update - 01/13/09 11:01 AM

(ARA) - Increasing costs have become evident in every aspect of our lives. In addition to daily expenses like gas and groceries, home improvement costs are escalating across the nation as well. The cost of construction materials has risen more than 10 percent during the past year, the Bureau of Labor Statistics reports. In addition, the American General Contractors (AGC) of America find that construction costs have increased more than twice the overall consumer price. As the summer months rolled by, construction prices kept increasing. By the end of July, the cost of steel, a material widely used in home … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Time Warner Cable to raise rates! - 01/13/09 10:46 AM
Time Warner Cable Inc. will raise its local cable rates next month.
Under the new plan basic rates will increase to $12 from $11 per month, while standard service will rise to $54.95 from $51.95.
The monthly cost of DigiPic 1000 will grow to $71.95 from $67.75. The company will raise the price of DigiPic 2000 to $89.95 from $85.75, with DigiPic 4000 going to $99.95 from $95.75.
Company spokeswoman Melissa Buscher says more than 60 percent of local subscribers won't face an immediate increase as they have discounted bundle packages or other promotions.
She says the price increases will offset … (0 comments)

team freeman: Charlotte, NC - Team Freeman Real Estate - Mortgage Update - 01/13/09 10:29 AM
Weak economic data and strong demand for mortgage-backed securities (MBS) helped mortgage rates remain at historically low levels during the week. Refinancing activity has increased dramatically as borrowers have rushed to take advantage of low rates. As a result, backlogs have developed at almost every step in the origination process, extending the time necessary to close many loans.On November 25, the Fed announced a plan to purchase as much as $500 billion in MBS. On Monday, the Fed revealed that it had begun to actually purchase securities. The Fed reported that it bought $10.2 billion of a wide range of MBS. … (0 comments)

team freeman: Charlotte NC - Team Freeman Real Estate - U.S. loses 524,000 jobs in December - 01/11/09 01:43 PM
The United States lost more than half a million jobs last month and the unemployment rate soared to 7.2 percent.
Unemployment stood at 4.9 percent in December 2007.
The U.S. Bureau of Labor Statistics reports a loss of 524,000 jobs between November and December. That continued a four-month streak, which saw 1.93 million jobs vanish between August and December.
The national unemployment rate crossed the 7 percent mark in December, rising from 6.8 percent in November to 7.2 percent.
The biggest decline occurred in the manufacturing sector, which lost 149,000 jobs in December. A total of 791,000 manufacturing jobs disappeared in … (0 comments)

team freeman: Charlotte NC - Team Freeman Real Estate - Charlotte Sales Pummet 47.2% - 01/11/09 01:32 PM
The number of houses sold in the Charlotte market fell 47.2 percent last month, and the average closing price declined 8.3 percent, according to the Charlotte Regional Realtor Association.
The number of closings dropped to 1,350 last month from 2,559 in December 2007.
The average sales price declined to $200,226 from $218,399 a year earlier.
The average number of days a home spent on the market before a sale was 147.5.
The figures are for homes sold in Mecklenburg, Union, Iredell, Lincoln, Cabarrus, Gaston and Stanly counties.
The Charlotte Regional Realtor Association operates the Carolina Multiple Listing Services Inc., which has … (0 comments)

team freeman: Charlotte NC - Team Freeman Real Estate - Home Improvement - 01/09/09 11:48 AM

(ARA) - A few years ago you finished your basement. You put in all the hard work to make it a perfect retreat and lounge. But you haven't done a thing with it since. So often, people finish their basements and then forget about any upkeep. Though the basement is often viewed as a rugged recreational room, it still deserves the same decorative and functional attention as the rest of the home; and the winter months provide the perfect opportunity to tackle some of those projects. These simple tips will help renew and rejuvenate your basement by making it more … (0 comments)

team freeman: Charlotte NC - Team Freeman Real Estate - Market Statistics - 01/09/09 11:10 AM
Hello Everyone!
I just received my new statistics from the MLS board this afternoon so I wanted to send them over. These will be for October and November 2008 to show you how much of a decline we have had, and we are expecting December to be even worse.
 
October:
Total homes sold = 1,848
Total homes on the market = 28,555
 
A total of 6.5% of homes listed actually sold. 
 
Closed sales are down 31% from last year at this time.
 
Under $120k = 11.0% sold 
$120k-150k  = 8.9% sold 
$150k-190k  = 6.7% sold 
$190k-250k  = 5.7% sold 
$250k-350k  = 5.0% sold 
$350k-500k  = 3.9% … (0 comments)

team freeman: Charlotte NC - Team Freeman Real Estate - HUD, FORECLOSURES, REO, AS IS - 01/09/09 10:20 AM
Someone asked two questions that I felt ALL buyers should be aware of when working with a Real Estate Agent. "Are foreclosures a good deal when presented by a real estate agent from the MLS and is it a hard process to buy???"  Here is your answer to those questions:
First of all, I would caution you against thinking something is a good deal simply because it is in foreclosure. There are a lot of people making that mistake. A deal is a deal is a deal regardless if it is in foreclosure or a straight up seller sale or something in between. What makes … (0 comments)

team freeman: Charlotte NC - Team Freeman Real Estate - RE/MAX - Finding the Right Agent - 01/08/09 11:53 AM
WHY MOST PEOPLE FAIL TO FIND THE RIGHT AGENT
Selecting an agent is just as important as selecting the right home to buy or price to sell for. An agent will bring to the table the tools you need to get the job done efficiently. The lack of a sufficient agent will only lead to losses and issues. With the growth in the housing market being steady, the industry has taken on a lot of lack luster agents, so be sure to read this article and find out how to avoid inefficient agents and instead learn how to find a top … (0 comments)

 
Aimee Freeman, Certified Negotiation Expert (Keller Williams Realty) Rainmaker large

Aimee Freeman

Certified Negotiation Expert

Wrightsville Beach, NC

More about me…

Keller Williams Realty

Address: 432 Eastwood Road Suite 200, Wilmington, NC, 28403

Mobile: (910) 317-0828

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