Evictions on Hold for the Holidays

Daily Real Estate News       December 13, 2013 

 

Freddie Mac and Fannie Mae announced a holiday moratorium on all foreclosed single-family homes that the mortgage giants own or guarantee, suspending all evictions between Dec. 18 and Jan. 3. 

Processing of the evictions will continue during this period, but families living in foreclosed homes will be able to stay in their homes. 

“At this time of year we want to bring some relief to families who confronted financial difficulties and went through foreclosures,” says Chris Bowden, senior vice president of REO at Freddie Mac. “We also want to remind home owners going into the New Year facing financial challenges to reach out for help as soon as they can by calling their mortgage servicer.” 

Freddie Mac and Fannie Mae are also issuing a holiday moratorium on foreclosed 2-4 unit properties. 

While the mortgage giants will be putting evictions on a two-week holiday hold, they will continue to proceed on other pre- or post-foreclosure activities. 

The mortgage giants have issued eviction moratoriums during the holidays in the past as well. 

–REALTOR(R) Magazine Daily News

Wilbur and Orville Wright 110th anniversary celebration

On Tuesday, December 17, 2013, the First Flight Society and the National Park Service will continue the tradition of honoring the accomplishments of Wilbur and Orville Wright at the 110th anniversary celebration of the first heavier-than-air powered flight. 

The event takes place at Wright Brothers National Memorial and park entrance fees will be waived for the duration of the event. 

Scheduled events for the day include:

• 8:45 a.m. – Observance begins with a patriotic musical prelude by the Northeastern High School Band from Elizabeth City, NC.  

• 9 a.m. – The formal program begins in the First Flight Pavilion with opening remarks from First Flight Society President Geneva Perry followed by NPS Superintendent Barclay Trimble who will welcome guests.  Speakers include Park Ranger Darrell Collins, Dr. Tom Crouch, Senior Curator of the Division of Aeronautics – Smithsonian Institution & delivering the keynote will be Louis Mancini, Senior Vice President for Commercial Aviation Services – Boeing.  The First Flight Society will pay tribute to William Edward Boeing, this year’s inductee into the First Flight Society’s Paul E. Garber First Flight Shrine.

• 10:35 a.m. – An aviation flyover will pay tribute to the Wright brothers at the documented exact moment of the Wrights’ first flight. 

• 11 a.m. – There will be a wreath-laying ceremony at the exact spot where the famous first flight occurred.  During this event, the Wright brothers and the witnesses of the first flight will be honored by the National Park Service, members of the First Flight Society, and the descendants of the witnesses.

• 11:30 a.m. – 12:00 p.m. – Meet and greet with members of the Wright family inside the Wright Brothers National Memorial visitor center.

Throughout the day, the park’s museum exhibits and activities provide an atmosphere of enjoyable learning about one of the greatest inventions of the 20^th century.  The visitor center is open at 9 a.m.  The 25-minute interpretive talks take place in the Flight Room Auditorium at 1 p.m., 2 p.m., 3 p.m., and 4 p.m.  Children are invited to participate in the park’s Junior Ranger program.    read more here   OBXentertainment.com

Candy Bomber comes to OBX with me onboard !

It was my absolute good fortune to take a ride on the Candy Bomber on Saturday.   The Candy Bomber was used around 1948/49 as part of "operation vittles" relief operation during the Berlin Airlift    See Wiki  

It was cold inside as it was a chilly day and military transport was not known for creature comforts !  But for an aircraft built in 1945 it was smooth and flown perfectly by the crew.  

We took the Candy Bomber from Elizabeth City to Dare Regional @ Manteo.  On the way down we passed over KDH High School and did a fly by the Wright Memorial to honor those initial aviators.  It is the 110year anniversary (Dec 17, 1903) of their first flight.

                                        The flight deck

                                        Over KDH High School

                                        The Wright Memorial

                                        Inside the Candy Bomber

                                        Ocean front - KDH

                                        On the ground in Elizabeth City

                                        On the ground in Manteo ...  that's us folks !

Bonner Bridge Re-Oponed to Traffic at 4 p.m. Sunday

Dec 15

Raleigh, N.C.– Governor Pat McCrory and Transportation Secretary Tony Tata announce the reopening of the Herbert C. Bonner Bridge on N.C. 12 at 4 p.m. this afternoon.  North Carolina Department of Transportation engineers deemed the bridge safe for traffic after several sonar scans, driving two test pilings and multiple inspections over the past week. The emergency repair work to add more support to the bridge continues.

“I want to thank our NCDOT team for quickly implementing an action plan to provide emergency ferry service for the citizens of Hatteras Island and for all of their hard work to safely reopen the Bonner Bridge," said Governor Pat McCrory. "This again highlights the need to replace the bridge as soon as possible, and our adminstration will continue to fight to get that done."

Following an emergency declaration by Governor McCrory,  NCDOT hired a contractor and launched aggressive dredging efforts during the weekend of Dec. 7 and 8. Crews pumped approximately 30,000 cubic yards of sand from the main navigation channel of the Oregon Inlet to the location at Bent 166 underneath the Bonner Bridge where scour, or the erosion of sand from bridge pilings, caused NCDOT to close the bridge on Tuesday, Dec. 3.

“Our experts have closely analyzed all the data, and we are confident that the sand pumped through emergency dredging work last weekend fortified the support structure enough to allow traffic to safely travel on the bridge for now.” said State Transportation Secretary Tony Tata. ”We will continue to closely monitor the bridge through inspections and weekly sonar scans during the emergency repair work. If safety becomes a concern again, we will take the appropriate steps to ensure public safety.”

Bonner bridge opening soon

Dec 15

North Carolina transportation officials say the Bonner Bridge on the Outer Banks could re-open next week if dredged sand placed around exposed pilings compacts well.
 
The transportation department said crews performed underwater sonar surveys and divers examined part of the bridge Wednesday.

Dare County Commissioner Allen Burrus said the initial indications from the review were better than expected.

Transportation district engineer Jerry Jennings says the bridge could reopen next week or as late as March.

The bridge was closed Dec. 3 because sand was washing away from the bridge supports. A dredge dug 30,000 cubic yards of sand over the weekend from the Oregon Inlet channel and put it around pilings.

An emergency ferry route was set up between Rodanthe and Stumpy Point, a 17-mile trip that takes more than two hours.

The state last week gave Carolina Bridge Company of Orangeburg, South Carolina a $1.6 million contract to place layers of interlocking jacks and sand bags on both sides of part of the bridge. The contract requires the work to be done in 90 days.

Garbage collection in Corolla

Bay Disposal Inc are the new garbage and recyclables collectors for the Corolla area. 


Effective Jan. 1, 2014, the curbside collection schedule will be as follows:

Monday and Friday service (in-season, May 1 to Sept. 30):
        Buck Island, Corolla Light, Currituck Club, Pine Island, Spindrift, 
        Ocean Sands South — Sections A, B and C, and remaining 
        residences fronting N.C. 12 not included in communities listed below.
        Off-season, Oct. 1 to April 30, pickup day will be Monday.

Wednesday and Saturday service (in-season):
       Corolla Village, Crown Point, Monteray Shores, Ocean Hill, 
       Ocean Sands — Sections D-Q, Villages at Ocean Hill, and 
       Whalehead subdivision

A newcomer's guide to the Bonner Bridge controversy

Here is a edited summary from the story ...

A: It is located on the Outer Banks about a three-hour-plus drive from Raleigh. It goes over the Oregon Inlet, which is basically a hole in the Outer Banks between the Atlantic Ocean and the Pamlico Sound that was created by a hurricane nearly 170 years ago. When you drive over the Oregon Inlet on Highway 12, you’re going over the Herbert C. Bonner Bridge. It’s 50 years old, and the state wants to replace it. Here is a photo gallery of the bridge.

Q: Why is it so important?
A: The bridge is the only way by road between North Carolina’s mainland and Hatteras Island. Besides the thousands of people who live on Hatteras year-round, a couple of million tourists visit Hatteras and another island, Ocracoke, further south. Incidentally, one of the confusing things about this story is that when we think of islands, we usually think of round things surrounded by water. The barrier islands that make up the Outer Banks aren’t round. They are narrow and long strips of sand. Unless you really know the Outer Banks, trying to understand this story without a map and a lot of concentration is next to impossible. When I edit stories about storms and hurricanes that involve the Outer Banks, I have a fetish about over explaining the geography that occasionally drives reporters batty.

Q: Why hasn’t the bridge already been replaced? How did it get so old?
A: People have been talking about replacing the bridge since the mid-1970s. But there has been endless debate over how to do it.

Q: What are the options?
A: The state and, it seems, most people on the coast want to build a short, 2-3 mile parallel bridge near the old one. Environmental groups want a 17.5-mile bridge that basically would take Highway 12 from the north side of the Oregon Inlet, out into the Pamlico Sound and then curve it back onto Hatteras Island at Rodanthe.

...

Q: What’s the latest on this?
A: Well, the controversy over the bridge flared up recently. A federal judge said the whole thing has been studied enough, and the short bridge over the inlet can be built. The Southern Environmental Law Center, which has been challenging the short bridge, decided to appeal the decision.

Q: Was that all?
A: No. The appeal was filed in October. Then, at the end of November, inspections by state DOT crews showed some alarming things around the old bridge. Erosion had caused sand around support structures to be scoured away. The DOT closed the bridge on Dec. 3, and said it might be closed for 90 days while repairs took place.

Q: So the bridge is closed. What are Hatteras Island people doing?
A: The state has put on some emergency ferries from the island to the mainland, across the Pamlico Sound. But this is not a very convenient alternative to the Bonner Bridge, to put it mildly. And many Hatteras islanders are not putting it mildly. And politicians are helpfully suggesting that they direct their anger at the Southern Environmental Law Center.

...


Story from    News and Observer   editors blog       http://www.newsobserver.com

Read more here: http://www.newsobserver.com/2013/12/09/3446101/a-newcomers-guide-to-the-bonner.html#storylink=cpy

Foreclosed Owners Get Second Chance Sooner

Those who lost their home due to financial hardships may get another shot at being home owners again soon. The Federal Housing Administration recently announced that they would shorten the waiting period for qualified borrowers who’ve had a bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale who want to buy a home again. Under the FHA's Back-to-Work program, home owners must show that they have their finances back in order and they must receive counseling from a HUD-approved agency. Those who meet the requirements can apply to buy a property in as little as a year.
“The Back to Work program is a great opportunity for us to help those impacted by the recent housing crisis,” Heather Shanahan, a representative with a HUD-approved housing counseling agency called Springboard, told HousingWire. "Our goal in our counseling sessions is to enable the borrower to better understand their loan options and the obligations.”
Counselors provide borrowers with a customized action plan that reflects household budgets and shows borrowers how they can meet their financial obligations to prevent default again in the future.
The Back-to-Work program is also helping borrowers purchase their first homes, in some cases.  read more

story from      Daily Real Estate News     Monday, December 02, 2013    http://realtormag.realtor.org/

How many people are underwater with their homes?

In addition to low housing inventory, the unprecedented amount of monetary easing from the Federal Reserve has acted like a life preserver to the real estate market. However, many Americans still find themselves underwater or anchored to their current homes.

In the third-quarter of 2013, the national negative equity rate declined at its fastest pace on record to 21 percent of all homeowners with a mortgage, according to Zillow’s latest Negative Equity Report. 

 In comparison, 23.8 percent of homeowners with a mortgage were underwater in the previous quarter. The peak was made in the first quarter of 2012 at 31.4 percent.

The national negative equity rate has now declined for six consecutive quarters, and fell below 25 percent earlier this year for the first time since Zillow began using its current methodology in 2011. In fact, around 1.4 million American homeowners were freed from negative equity during the third quarter. While this is a significant improvement, many people are still trapped in their homes.

Across the nation, there are approximately 10.8 million homeowners who still owe more than their homes are currently worth. Zillow also finds that the effective negative equity rate — homeowners with less than 20 percent home equity — is at 39.2 percent. Meanwhile, roughly one in seven homeowners owe more than double what their home is worth.   

Read more

story from     http://wallstcheatsheet.com  
 

New Cell Tower - Southern Shores

Southern Shores Town Council unanimously approved the issuance of a Conditional Use Permit to AT&T for the construction of a flagpole cell tower.  AT&T should have received a Building Permit from the Town to start construction. AT&T anticipates construction to start in March or April of 2014 and their objective is to be up and running by tourist season 2014.

OBX foreclosures

Currituck County 12/20/13   Twenty Five  new foreclosure notices issued.

Dare County 12/17/13 Eight new foreclosure notices issued. 

Dare County 12/1/13 Nine new foreclosure notices issued. 

Currituck County 11/19/13 Ten new foreclosure notices issued. 

OBX bridges

Dec 15

North Carolina transportation officials say the Bonner Bridge on the Outer Banks could re-open next week if dredged sand placed around exposed pilings compacts well.
 
The transportation department said crews performed underwater sonar surveys and divers examined part of the bridge Wednesday.

Dare County Commissioner Allen Burrus said the initial indications from the review were better than expected.

Transportation district engineer Jerry Jennings says the bridge could reopen next week or as late as March.

The bridge was closed Dec. 3 because sand was washing away from the bridge supports. A dredge dug 30,000 cubic yards of sand over the weekend from the Oregon Inlet channel and put it around pilings.

An emergency ferry route was set up between Rodanthe and Stumpy Point, a 17-mile trip that takes more than two hours.

The state last week gave Carolina Bridge Company of Orangeburg, South Carolina a $1.6 million contract to place layers of interlocking jacks and sand bags on both sides of part of the bridge. The contract requires the work to be done in 90 days.



Dec 4th

Herbert C. Bonner Bridge - update
Two days of dredging from the Oregon Inlet navigation channel to an area under the Bonner Bridge has wrapped up, but it will be several days before the N.C. Department of Transportation knows if the span is any closer to reopening to traffic.
The dredge Alaska, which has been digging out the chronically clogged channel since early November, spent Saturday and Sunday moving sand from near Bodie Island spit to an area where sand surrounding a set of pilings had washed away, forcing the state to shut down the 50-year-old bridge a week ago   ... more here

Dec 3rd
Closing of the Herbert C. Bonner Bridge.
Access to Hattaras Island is limited to ferry's from Stumpy point.  This time the access is not due to a bad storm but instead Oregan Inlet currents have damaged the footing of 10 pilings, at the south end of the bridge and left nine of them anchored in less than 20 feet of sand, the minimum level considered structurally safe. The bridge was closed Tuesday Dec 3rd.

Wright Memorial Bridge - lane closure continue

Work on a project to improve the ride across the Wright Memorial Bridge has resulted in the closing of the westbound span for up to eight months.   The project will replace the top of the existing concrete on the bridge deck with a layer of latex-modified concrete that will smooth out humps and provide a better ride.

The Mid Currituck Bridge??   http://hamptonroads.com/2013/08/tourist-traffic-highlights-need-nc-bridge

Saturday Summer traffic to the Outer Banks routinely backs up more than 15 miles on U.S. 158. With 50,000 vehicles each Saturday in July/Aug this causes frustration with tourists and restricts what owners can do at the weekends.    "By the time people get to the beach, they are so angry, and they're taking it out on our staff at the visitor center," O'Neal said. "It's horrible."   The North Carolina Board of Transportation approved a funding formula that ranks projects by how they score in categories such as cost, saved travel time, congestion relief, safety and economic benefits. Local support and funding could be additional factors.  So, maybe the bridge project might get a decent ranking and become funded.  We can hope !

OBX real estate news

Dec 9th
The Kitty Hawk Town Council has given developers the green light to move forward with plans to construct a 30-lot subdivision just east of Carrenda Lane on Kitty Hawk Road.  Despite some public dissent, council members unanimously approved the preliminary plans by developer Gordon Jones for West Village, which is slated for 22 acres of both wetlands and ridge topography.   Once improvements are in place, the 30 lots can be put on the market. Heard said the subdivision will be similar to Hickory Ridge at the end of Ridge Road, and would likely be comprised mostly of modest, three-bedroom homes.   A relatively straight road will be built off of Kitty Hawk Road but include one sharp bend that goes along the contour of a high ridge. The street will end in a cul-de-sac.
Lot sizes range from 15,000 square feet to 2 acres in size.  Read full story here  Kitty Hawk development