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Realtor Report

REALTOR Report - 7/22/2010

Glen Baity, 7/22/2010


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THE REALTOR® REPORT

JULY 22, 2010

 

TOP STORY


LDO REVISIONS: FIND OUT WHAT THEY MEAN TO YOU AT OUR JULY 27 BROWN BAG



Have questions about Greensboro's new Land Development Ordinance? Get answers at our LDO Brown Bag Lunch on July 27 at 11:30 a.m.!

We're teaming with the Greensboro Builders Association to bring you this briefing for REALTORS, Builders and Remodelers that will cover everything you need to know about how to use the new ordinance. Learn about any changes that will affect your business! 

Presentation by and Q&A with:

  • Dick Hails, Planning Director
  • Rawls Howard, Chief Zoning Officer
  • Steve Galanti, Planner

Bring your lunch and join us! Sign up online here, or contact Sharon Gray, 854-5868 or sgray@grra.org for more information.

LOCAL ORDINANCE

SELLING IN OAK RIDGE? HELP US LEGALIZE SIGNS

Oak Ridge is the only town in Guilford County that prohibits real estate signs, and they enforce heavily. 

TREBIC's Small Town Sign Legalization Task Force is organizing a meeting of the REALTORS AND BUILDERS most involved in that area to determine a consensus on how to move forward in this jurisdiction. 

The meeting will be held at the Allen Tate office in Oak Ridge (2215 Oak Ridge Road) on Tuesday, July 27 at 6:30 p.m. Please spread the word to agents and builders that regularly work in Oak Ridge. It is imperative that we have their input. Contact Sharon Gray at 854-5868 or sgray@grra.org if you'd like to attend. 

The next meeting for Small Town Sign Legalization Task Force is Wednesday, July 28 at 3:00 pm at GBA upstairs.  Contact Judy Stalder at TREBIC (jstalder@trebic.org) if you would like to join the task force for a) all meetings OR b) to participate in discussions about a particular town or jurisdiction.

Here is how you can help:

(Read more)

 LINKS

 

Association News

Residential  News

Commercial  News

Upcoming  Events

Member  News

Technology News

 

YOUR ASSOCIATION

GRRA RECERTIFIED THROUGH NAR


From 2010 President Bill Gill:

“I am proud to announce that on Wednesday, the GRRA received notice that we successfully completed the NAR Organizational Standards Certification, which we must pass every three years.  This will ensure that our Association meets the high standards NAR sets for its local associations, and will help us maintain strong relationships at the national level. 

"We’re thankful for the work of all those who guided us through the recertification process, and we look forward to a beneficial affiliation with NAR for years to come.”

TAX-FREE WEEKEND COMING


GET A KID READY FOR SCHOOL NEEDS YOUR HELP!

Tax Free Weekend is August 6-8!

To maximize the amount of supplies we can purchase, RCSC Volunteers will be buying Get A Kid Ready for School items over this weekend!

That means we need your contributions ASAP -- if you haven't given to our annual school supplies drive, now is the time! As it does every year, this drive will help local students who can't afford school supplies have all the items they need on the first day of school. You can find a donation point in major offices and at the GRRA's front desk -- just look for the pencil box and drop in your check, payable to the Greensboro Regional REALTORS Foundation.

Thank you for helping local students achieve their fullest potential. If you have any questions please contact Megan Tasman at mmoore@grra.org.

APPLE

MLS COMES TO THE MAC, UNVEILS NEW SUPPORT SITE

Two big announcements from Triad MLS:

First, we are very pleased to announce that Marketlinx has provided us with a solution for MAC users in the Triad.  

This will allow any person using a MAC Computer to access Tempo.  This is NOT the next generation MLS system that will be offered by Marketlinx at a later time and this does NOT mean that users can use Tempo with Safari, Firefox or any browser other than IE.  Just for your information, Fusion MLS (the next generation Tempo from Marketlinx) will work on any computer and any browser.  I say that so you will see that this is not that. 

(Read more)

REALTOR PARTNERS

GRRA SURVEY: ONE WEEK LEFT

partnerlogo


There's still time to take this week's GRRA Survey -- we want to know about how you use the REALTOR Partners Program.

 
Click here to take the survey!


As always, the survey takes less than a minute and your responses are confidential. And don't forget, all of our past surveys are archived on the
GRRA Survey Results Page so you can compare your answers with your fellow REALTORS.

 

Association News

HUD ISSUES NEW INTERPRETIVE RULE

From Old Republic Home Protection


On June 25, 2010, HUD issued a new interpretive rule regarding administrative fee payments to Real Estate Brokers and Agents. You can view the new rule by visiting our website at
www.orhp.com and clicking on the HUD Ruling link located under the Quick Links menu.

HUD's new interpretive rule clarifies that real estate brokers and agents may not be compensated by Home Warranty Companies for marketing services directed to particular homebuyers or sellers.


GOING TO MYRTLE BEACH? PRE-REGISTER AND SAVE!


NCAR's 2010 Convention & Expo is happening September 19-21 in Myrtle Beach, S.C. -- if you're going, why not sign up today?

The Early Bird registration rate of $250 expires on July 31. If you sign up before that date, you'll save $45 off the standard pre-registration price, or $95 off the on-site registration fee!

GRRA currently has the second-most pre-registered members of all large boards in the state. Help us get to #1 when you pre-register today!

Sign up at the convention website by clicking here!

NC GENERAL ASSEMBLY (SORT OF) PROTECTS DEVELOPMENT PERMITS FROM EXPIRATION

from Carolina Land Law

In the waning hours of the NC General Assembly's Short Session, a bill was passed will little fanfare but much potential impact upon the development community, state agencies, and local governments.  House Bill 683 extends the Permit Extension Act of 2009 that tolled the expiration of all kinds of governmental permits issued to property owners and developers.  Building permits, site plans, etc. that were valid at any time during the period January 1, 2008 through December 31, 2010 will now not expire until some time after December 31, 2011.

This attempt to provide some relief to the real estate market, given the uncertainties of the current economy, did not come without intense lobbying from both sides of the discussion.  While development interests won a one year extension, local governments triumphed in their efforts to limit this new extension to one rather than two years.  Local governments also won the right to opt out of this newest extension. In addition the General Assembly clarified developers' obligations to complete promised infrastructure for new developments.

As a last minute compromise, the new law answers some questions but raises many others. See SML lawyer Tom Terrell's blog "The Permit Extension Act of 2009 -- Extending the Extension" to learn more.


REALTOR NIGHT WITH THE GREENSBORO GRASSHOPPERS AUGUST 10

REALTOR Night at the Ballpark is coming soon! Get a free "GRRA Swings for the Fences" T-shirt with every $7 advance ticket purchased for the 7:00 PM August 10, 2010 game between the Greensboro Grasshoppers and the Hickory Crawdads. Hurry -- quantities are limited, and shirts are issued on a first come, first-served basis. Buy your ticket at the GRRA front desk, and plan to wear the t-shirt to the game. Help promote the REALTOR brand, GRRA, your community, and the Greensboro Grasshoppers.

SELLING IN OAK RIDGE? HELP US LEGALIZE SIGNS

Oak Ridge is the only town in Guilford County that prohibits real estate signs, and they enforce heavily. 

TREBIC's Small Town Sign Legalization Task Force is organizing a meeting of the REALTORS AND BUILDERS most involved in that area to determine a consensus on how to move forward in this jurisdiction. 

The meeting will be held at the Allen Tate office in Oak Ridge (2215 Oak Ridge Road) on Tuesday, July 27 at 6:30 p.m. Please spread the word to agents and builders that regularly work in Oak Ridge. It is imperative that we have their input. Contact Sharon Gray at 854-5868 or sgray@grra.org if you'd like to attend. 

The next meeting for Small Town Sign Legalization Task Force is Wednesday, July 28 at 3:00 pm at GBA upstairs.  Contact Judy Stalder at TREBIC (jstalder@trebic.org) if you would like to join the task force for a) all meetings OR b) to participate in discussions about a particular town or jurisdiction.

Here is how you can help:

1) Email Judy Stalder at TREBIC (jstalder@trebic.org) if you know of any areas where enforcement of sign ordinances is occurring and/or causing problems

2) Think about the “mood” of staff and elected officials in your town. Are they friendly/sympathetic to builders and Realtors?  Are they builders or Realtors themselves? Email information to Judy.

3)  Archdale, Trinity and Jamestown have ordinances that specifically allow off premise real estate signs. Let Judy know if you have experienced problems in these jurisdictions.

MLS COMES TO THE MAC, UNVEILS NEW SUPPORT SITE

Two big announcements from Triad MLS:

First, we are very pleased to announce that Marketlinx has provided us with a solution for MAC users in the Triad.   

This will allow any person using a MAC Computer to access Tempo.  This is NOT the next generation MLS system that will be offered by Marketlinx at a later time and this does NOT mean that users can use Tempo with Safari, Firefox or any browser other than IE.  Just for your information, Fusion MLS (the next generation Tempo from Marketlinx) will work on any computer and any browser.  I say that so you will see that this is not that. 

What this does do is act as a Application Server that allows our users to emulate a Windows IE Browser session within the MAC Operating System.  Our users will be able to fully work with Tempo from within the MAC environment.  There is no cost for this service. 

Read all about it here

Second, we are now ready to roll out our new Triad MLS Support Website. 

The address is http://support.triadmls.com  

In addition to the help screens located within Tempo, this will offer our members another avenue to easily access information regarding Tempo and give them the ability to search Knowledgebase articles and troubleshooting.  In addition, they will be able to submit help ‘tickets’ online and even communicate live with a support representative via an On-line chat utility.  All emails currently sent to helpdesk@triadmls.com are now routed through this Support system so we have the ability to track and trend these as well. 

One of the benefits of this is that we will be able to track these issues and then use that to assess training needs, etc.  Others include:

  • Ticketed support and email management

o   A ticket can be thought of in many ways:  an issue, an email, a message or a threaded conversation

  • Live Chat and Visitor Monitoring

o   Allows us to monitor, engage and interact with visitors in real time. 

  • Advanced reporting, workflow, and scheduling features

o   Allows us to determine trends and issues based on user created help desk tickets

  • Publish rich self help resources

o   Ability to publish news articles so that they appear on the support page or even broadcasted by RSS feeds

o   If relevant, links can be sent out by the auto-responder if the issue is relevant to their question

  • Team-working and Task Management
    • o   Tasks can be set up and managed by staff to ensure we all know who is handling what in a more automated fashion 

We are pleased to offer this to all our members and we encourage you to post on your individual websites should you desire. We will be updating the Message of the Day within Tempo of this new utility available to our members. 

ARE YOU AN AGENT REPRESENTING A BUILDER?

As a reminder, the North Carolina Home Builders Association pushed through the following bill last session that allows Builders to defer property tax on unsold/unoccupied inventory for up to 5 years. Share this information with your builder colleagues!

(Triad Legislators Hugh Holliman and Harold Brubaker were primary bill sponsors, so if you use this you might want to thank them.) 


GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2009
SESSION LAW 2009-308
HOUSE BILL 852
*H852-v-5*
AN ACT TO DEFER A PORTION OF THE PROPERTY TAX DUE ON REAL PROPERTY
HELD FOR SALE BY A BUILDER.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 105-273 is amended by adding a new subdivision to read:
"(3a) "Builder" means a taxpayer licensed as a general contractor under G.S. 87-1 and engaged in the business of buying real property, making improvements to it, and then reselling it."

SECTION 2. Article 12 of Chapter 105 of the General Statutes is amended by
adding a new section to read:

"§ 105-277.1D. Inventory property tax deferral.

(a) Classification. – A residence owned and constructed by a builder is designated a special class of property under Section 2(2) of Article V of the North Carolina Constitution and is taxable in accordance with this section. For purposes of this section, a "residence" is an improvement, other than remodeling, renovating, rehabilitating, or refinishing, by a builder to
real property that is intended to be sold and used as an individual's residence, that is unoccupied, and for which a certificate of occupancy authorized by law has been issued.

(b) Deferred Taxes. – A builder may defer the portion of tax imposed on real property that represents the increase in value of the property attributable solely to improvements resulting from the construction by the builder of a residence on the property. The difference between the taxes due under this section and the taxes that would have been payable in the absence of this section are a lien on the real property of the taxpayer as provided in G.S. 105-355(a). The difference in taxes for the fiscal years preceding the current tax year shall be carried forward in the records of the taxing unit or units as deferred taxes. The deferred taxes are due and payable in accordance with G.S. 105-277.1F when the property loses its eligibility for deferral because of the occurrence of a disqualifying event. A disqualifying event occurs at the earliest of (i) when the builder transfers the residence, (ii) when the residence is occupied by the builder or by someone other than the builder with the builder's consent, (iii) five years from the time the improved property was first subject to being listed for taxation by the builder,
or (iv) three years from the time the improved property first received the property tax benefit provided by this section. On or before September 1 of each year, the collector shall notify each builder to whom a tax deferral has previously been granted of the accumulated sum of deferred taxes and interest.

(c) Creditor Limitations. – A mortgagee or trustee that elects to pay any tax deferred by the builder subject to a mortgage or deed of trust does not acquire a right to foreclose as a result of the election. Except for requirements dictated by federal law or regulation, any provision in a
mortgage, deed of trust, or other agreement that prohibits the builder from deferring taxes on property under this section is void.

(d) Construction. – This section does not affect the attachment of a lien for personal property taxes against a tax-deferred residence.

(e) Application. – An application for property tax relief provided by this section should be filed during the regular listing period but may be filed after the regular listing period upon a showing of good cause by the applicant for failure to make a timely application, as determined and approved by the board of equalization and review or, if that board is not in session, by the
board of county commissioners. An untimely application approved under this subsection applies only to property taxes levied by the county or municipality in the calendar year in which the untimely application is filed. Decisions of the county board may be appealed to the Page 2 Session Law 2009-308 SL2009-0308


TAX CREDIT, FLOOD INSURANCE EXTENSIONS PASS CONGRESS

After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law.

 

NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.

 

For additional information on the extension visit www.realtor.org/government_affairs

 

Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.

 

For more information on the flood insurance program visit www.realtor.org/government_affairs


CITY EXPANDS COVERAGE OF URBAN LOOP MAPPING TOOL

The City of Greensboro’s Department of Transportation (GDOT) has revised its interactive Urban Loop Mapping Tool to now include other major City- and state-planned roadway projects. The tool, now called Road Project Mapping Tool, can be accessed from the left column of the City’s website home page at www.greensboro-nc.gov.

The purpose of the new mapping tool is to provide easy Web access to major roadway project locations and design information. Simply click on the Road Project Mapping Tool link, enter an address within Guilford County, and see how close a property may be to a planned major roadway project.


GUILFORD TAX INFO SERVICE NOW LIVE

The Guilford County Tax Department has announced that the long-awaited overhaul of its Billing and Collections system will be unveiled to the public on July 6, 2010. Read about it here (.pdf file).

HELP LEGALIZE SIGNS IN OAK RIDGE

In the first meeting of TREBIC's Small Town Sign Legalization Task Force, Oak Ridge was designated the first priority. Oak Ridge is the only town that actually prohibits the signs, and they enforce heavily. 

The Task Force is organizing a meeting of the Realtors AND BUILDERS most involved in that area to determine a consensus on how to move forward in this jurisdiction. The meeting will be held at the Allen Tate office in Oak Ridge (2215 Oak Ridge Road) on Tuesday, July 27 at 6:30 p.m. Please spread the word to agents and builders that regularly work in Oak Ridge. It is imperative that we have their input.

The next meeting for Small Town Sign Legalization Task Force is Wednesday, July 28 at 3:00 pm at GBA upstairs.  Contact Judy Stalder at TREBIC (jstalder@trebic.org) if you would like to join the task force for

a) all meetings OR

b) to participate in discussions about a particular town or jurisdiction

Here is how you can help:

1) Email Judy Stalder at TREBIC (jstalder@trebic.org) if you know of any areas where enforcement of sign ordinances is occurring and/or causing problems

2) Think about the “mood” of staff and elected officials in your town. Are they friendly/sympathetic to builders and Realtors?  Are they builders or Realtors themselves? Email information to Judy.

3)  Archdale, Trinity and Jamestown have ordinances that specifically allow off premise real estate signs. Let Judy know if you have experienced problems in these jurisdictions.

REALTOR PARTNER NEWS

July Partner of the Month

Think BIG and save along the way! Your NCAR membership entitles you to discounts on UPS ground, air and international shipping every time you ship. Whether you send 50 shipments a month or two shipments a week, the savings add up. With UPS, even small businesses save big! Click here to sign up: www.savewithups.com/enroll/ and enter the promotional code: SER213!

2011 Committee Request Forms

If you would like to serve on the REALTOR® Partner Committee in 2011, please fill out the attached application or visit our website to submit a request online at www.ncrealtors.org.

REALTOR.COM SITE REDESIGN ENTERS BETA TESTING PHASE

We want to bring you up-to-date on the new REALTOR.com® website redesign that is currently in beta testing.  The new site enhancements make accessing all the rich data available on REALTOR.com® intuitive and better than ever!  The millions of consumers who visit REALTOR.com® each month will be able to find properties, as well as companies and agents, faster and more easily.

The “new” REALTOR.com will have upgrades to the search functionality and mapping presentation for current properties for sale, and the user interface design has been updated with new coloring and a tab layout at the top of the page.

Key Features of the “new“ REALTOR.com – currently in “beta” release: 

New “Find REALTORS®” and Free Member Profile Pages for ALL

ALL members will have the opportunity to have a Profile Page within the new Find REALTORS® search experience.  All members will be able to:

  • upload their photo
  • include an “About Me” romance paragraph
  •  identify designations/certifications
  •  specify languages spoken, specializations
  • Interface with social networking links (Facebook®, LinkedIn®, Twitter®). 
  • Provide listing metrics – which can be turned off/on by the agent

The following link includes a short video and downloadable instructions for your members on “how to” add or revise their profile: 

Click here

Improved presentation of listing data and property information

  • The Listing Detail Pages are enhanced with more information -- including more prominently displayed Open House section, property tax and sales history, and better integration of neighborhood information
  • The New Map Search allows consumer to explore neighborhoods, find points of interest, and learn about home values all on an easy-to-read map.
  • Easier access to information that has been available on REALTOR.com for several years, such as the ability to more easily search recently sold properties and area sales statistics

New platform with improved speed and flexibility

In addition to the upgrades in the user experience, this release includes the launch of our new underlying system architecture and unified data base – bringing more technical flexibility to the site and faster search results for all users. 

Users may choose to explore the Beta version of the new site now by clicking on the link at the top of the REALTOR.com® home page.   We anticipate that the new REALTOR.com® experience will be fully released in Summer 2010.
                                                             
Over One Million Downloads of REALTOR.COM® iPHONE APP in Five Months

We are also pleased to announce that the REALTOR.com iPhone application has had over 1,300,000 downloads since it was launched in January 2010!  The REALTOR.com® iPhone application is the most comprehensive real estate search on iPhone. Consumers can search based on GPS location, search nearby Open Houses, show listings on a map, and “one tap” call to the listing agent.  The REALTOR.com® iPhone app can be downloaded from Apple iTunes: itunes.apple.com/us/app/real-estate-search/id336698281  or visit our iPhone information page at www.realtor.com/iphone

THE GRRA BLOG HAS MOVED!

Visit the GRRAblog at its new home on Blogger.com! You can now find us at http://greensbororealtors.blogspot.com. It's a great place to catch up on REALTOR happenings at the local, state and national levels.

To make sure you don't miss anything, be sure to add us to your RSS feeds. If you don't know how to use RSS (which stands for Really Simple Syndication), check out this entry for a quick tutorial.

And don't forget, the GRRA is also on Facebook and Twitter.

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Member News

If you have news you'd like to share with your fellow REALTORS, send it to Glen Baity, gbaity@grra.org or 854-5868.


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Upcoming Events

July 27 - Greensboro LDO Brown Bag - 11:30 a.m.
- RSVP to Sharon Gray, 854-5868 or sgray@grra.org.

July 29 - New REALTOR Orientation -
Required for all new REALTORS - Contact Megan Tasman for more information, 854-5868 or mmoore@grra.org.


August 3 - GRRA Membership Luncheon - 11:30 a.m. -
Come hear the candidates in the upcoming GRRA Elections speak - RSVP to Sharon Gray, 854-5868 or sgray@grra.org.

August 9 - Voting begins for GRRA Elections - 12 p.m.

August 10 - RCSC Blood Drive - 8:30 to 12:30 -
Contact Megan Tasman for more information, 854-5868 or mmoore@grra.org.

August 12 - Triad MLS Brown Bag Lunch - 11:30 a.m. - MLS EVP Richard Renton joins us to talk about new features and field your MLS-related questions. RSVP online here.

August 10 - REALTOR Night at the Greensboro Grasshoppers - Contact Charles Hinerman, 854-5868 or chinerman@grra.org for more details.

August 17 - Transportation Improvement Program Brown Bag - 11:30 a.m. - GDOT's Craig McKinney returns to the GRRA to discuss the contents of the new draft TIP - RSVP to Sharon Gray, 854-5868 or sgray@grra.org.

August 19-20 - Get a Kid Ready for School Sorting and Distribution

August 24 - GRRA-RCA Joint Membership Luncheon - RSVP to Barbara Gilliland, 854-5868 or bpgilliland@grra.org

August 26 - Healthcare Reform Coffee Talk - 9 a.m. - Stan Park of Craft Insurance joins us to talk about the first changes from the healthcare reform bill, and what you can expect down the road. RSVP online here.

August 31 - LDO Information Session - 8:30 a.m. to 10:30 a.m. - Open to members of TREBIC, GRCA, GBA, NAIOP, TAA and HPRCA - Contact Glen Baity at 854-5868 or
gbaity@grra.org for more information

September 1 - GRRA Annual Meeting

September 6 - GRRA Closed for Labor Day


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Technology News

Facebook tops 500 Million users
Facebook, the social network created in the dormitories of Harvard six years ago, said on Wednesday that it now had 500 million members.

Verizon sees problems with 'small number' of Droid X phones 
Apple’s iPhone 4 isn’t the only phone facing complaints about hardware. Verizon Wireless and Motorola acknowledged problems with screens on the new Droid X — the latest smartphone running Google’s Android system.

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Residential News

You might be surprised by who is in the market for a home

Rest assured, there are buyers out there — many of them might just look different than one would imagine.

Diploma rate hits highest in 4 years
Students who crossed the graduation stage just a few weeks ago raised Guilford County Schools’ graduation rate to its highest point in four years.

Editorial: UNC tuition trauma

University of North Carolina system students who are lucky enough to have summer jobs better start working overtime because they have bigger bills to pay. Much bigger.

Home construction plunges in June
Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes paid to local and federal authorities, according to the National Association of Home Builders.

Council approves 2 coliseum projects

Matt Brown said he’s running out of rabbits to pull from his hat when it comes to running the Greensboro Coliseum.

Builders sour on home sales and cut back construction
Homebuilders are feeling increasingly pessimistic about their industry, more evidence that the economic recovery is slowing.

Top choices for police chief

The city today announced the final two candidates for the Greensboro police chief job.

Smaller banks dominate troubled list

Nearly half of the 86 banks chartered in North Carolina and overseen by state regulators are troubled institutions hurt by sliding real estate values, overdue loans and weak loan demand, regulators said.

1 million may lose homes this year

Rosalyn Dalebout rents out space in her home to three tenants, has cut off her phone service and canceled her earthquake and life insurance — all to pay her mortgage every month.

Hard work paying off for Oak Hill

Oak Hill Elementary, named among the worst schools academically in the nation earlier this year, now looks set to leave that millstone behind.

Downtown Greenway gets $100K grant

The Downtown Greenway received a $100,000 federal grant that will help restore an abandoned railroad underpass for the urban walking and biking trail, Action Greensboro announced today.

Loan rates set the stage for homebuyers

The lowest mortgage interest rates in decades are the key motivator for most of today’s homebuyers and homeowners who want to refinance their mortgage.

Lawmakers spare services from new taxes this year

With the General Assembly wrapping up its short session last week, it looks like not even the worst recession in decades was enough to spur an overhaul of the state’s tax code.


High Point Road: City, merchants seek to rid once-lucrative corridor of blight, crime
About 40 years ago, developer Joe Koury got wind of a new twist that promised to revolutionize the nation’s retail landscape: the enclosed mall.

Housing is part of plan for reviving seedy road

City government’s effort to revive flagging High Point Road means more to the average resident than simply fixing blight on a major thoroughfare that’s fallen on hard times.

Editorial: Saving High Point Road
Once a throbbing center for shopping and nightlife, the area is only a shell of its former self today — a long, weary strip of pawn shops and “video sweepstakes” parlors with a growing reputation for prostitution and violent crime.

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Commercial News

Hotel project takes crucial step forward
A proposed downtown hotel is one step closer to $26 million in federal recovery bond financing.

Winston-Salem to offer Caterpillar $14 million in incentives

The city will offer Caterpillar Inc. a total of $14.35 million to entice the company to build a manufacturing plant on the eastern edge of town.

Nussbaum Center fails to get grant

A local entrepreneur incubator needs another strategy for raising the money to renovate its proposed new headquarters.

Kotis plans for three new restaurants

Already a well established player in the Triad commercial real estate industry, Greensboro-based Kotis Holdings is jumping into the restaurant business with the planned launch of three dining concepts that company officials say will create around 200 jobs.

 

GSO rezoning plan scrapped -- for now
Outcry over plans for a roughly $6 million office complex near the Hamilton Lakes and Starmount Forest communities in Greensboro has forced the land owner back to the drawing board.

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