Archive for July, 2009
Redcliffe set to offer public taste of its Growing History
The staff of Redcliffe Plantation State Historic Site invites the public for a taste of history at the annual Growing History program.
Growing History is scheduled for 10 to 11 a.m. Saturday, July 18, at Redcliffe Plantation in Beech Island.
Redcliffe is home to an heirloom garden maintained by members of the Aiken Master Gardeners, whose crops go to help sustain the Golden Harvest Food Bank’s shelves, according to park interpreter Elizabeth Laney.
“We feel this program is important because so many people in our area are interested in gardening, and our program focuses on heirloom gardening, which is something not everyone knows about,” Laney said. “Heirloom vegetables and fruits have to have a history attached to it; it usually has to have an interesting name, like the Jenny Lind muskmelon or bloody butcher corn; and they have to be reproducible from their own seeds. That’s heirloom gardening.”
This year’s heirloom garden is based on notes by Redcliffe’s third owner, Julia Hammond Richards, who made ends meet during the Great Depression by selling produce from her garden, Laney said.
“I think it can be an illustration of how the garden can be a source of pride and hope during tough economic times,” she said.
Admission to the Growing History program is $4 for adults, $3 for children and $2.50 for seniors. All attendees will receive a free packet of seeds and a taste of whatever produce in the heirloom garden is ripe.
“The most important part of this program is that it lets you taste, touch and smell history,” said Laney. “That’s not something most museums will let you do.”
For more information about Growing History or other upcoming events, call Redcliffe Plantation State Historic Site at 827-1473.
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Farmers Market holding tomato contest
The Aiken County Farmers Market will be holding its fifth annual tomato contest today.
Those interested in participating in the event should bring tomatoes to the market, located at the corner of Williamsburg Street and Richland Avenue, between 8:30 a.m. and noon, according to Coleen Reed, a member of the Aiken County Farmers Market committee.
Reed said winners will be announced shortly after noon.
The contest is not just for farmers. Reed said the general public is welcome to take part in the event as long as the tomatoes are homegrown. All entries will be weighed on a digital scale. Paul Widener, Aiken County Farmers Market manager, will judge the contest.
The winner will walk away with bragging rights for a year. Martha Dicks took last year’s title. Dicks, a South Carolina certified small family farmer, had a tomato that weighed in at 1.65 pounds. Reed said she is not sure what this year’s tomatoes will look like.
“This year has just been so dry, we don’t know what the biggest is going to be,” she said.
She said the contest is “good-natured fun” between the farmers who frequent the market.
According to Reed, the trash talk starts weeks in advance, with some farmers already warning others to look out for their tomato.
“It’s just a good-natured, fun competition between the farmers,” Reed said.
The Farmers Market will also open at 4:30 p.m. this afternoon for Thursday Nights at the Farmers Market.
Reed said farmers will have a large assortment of fruits and vegetables on hand including, corn, cantaloupe, all types of squash, eggplant, blueberries and meats.
By APRIL BAILEY,Staff writer
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Treasury Makes Refinancing More Attractive
The Treasury Department on Wednesday expanded its foreclosure prevention plan, lifting the current 105 percent loan-to-value cap to refinance up to 125 percent of a home’s value.
Applications to refinance mortgages have fallen as rates have increased in the last couple of weeks, but this move may bring more borrowers to the table.
At the same time, Fannie Mae and Freddie Mac have agreed to reduce the processing fee for borrowers who select a 25-year mortgage.
Fannie said in a statement, “The reduction is intended to lure borrowers to select shorter terms and build positive equity in their homes sooner than with a typical 30-year mortgage.”
Source: Reuters News, Patrick Rucker (07/01/2009)
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NAR Gives to Foreclosure Prevention Programs
The National Association of REALTORS® has awarded more than $682,000 to 25 local and state REALTOR® associations through its Foreclosure Prevention and Response grant program. The grants help REALTOR® boards develop and fund local foreclosure-prevention programs.
More than $3 million is available to state and local associations through the program to help REALTORS®, their clients, and communities nationwide resolve the growing foreclosure problem. Funds can be used to:
* Give consumers foreclosure prevention information and financial counseling.
* Educate and train REALTORS® about foreclosure prevention, short sales, and auctions.
* Help Realtors® and their associations form partnerships and get more involved in their communities to address foreclosures and support local neighborhood stabilization efforts.
“REALTORS® build communities, and as the leading advocate for homeownership and housing issues, we believe that any family that loses its home to foreclosure is one family too many,” NAR President Charles McMillan says. “Foreclosures affect each community differently, which is why NAR is providing the Foreclosure Prevention and Response grants directly to local and state REALTOR® associations – so that they can develop unique, coordinated action plans to prevent foreclosures and minimize their adverse effects on the community.”
NAR has also developed a Foreclosure Prevention and Response Toolkit for local and state associations. This free online toolkit helps associations develop a local foreclosure response program and support the work of REALTORS® in the community. Toolkit resources include a list of training programs, government and other grant programs, and opportunities for community involvement and best practices, including developing community-wide strategies.
Additional information on the approved grants is available at www.realtor.org/foreclosure.
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City looks to reverse erosion in Sand River
Erosion in the Sand River at Hitchcock Woods that was caused by storm water runoff from downtown development has been an issue the City of Aiken has faced for decades.
Officials are hoping that a new “green infrastructure project” that is currently being developed will help to alleviate the problem and eventually restore Sand River.
The City was recently awarded a $3.3 million federal stimulus grant from the Department of Health and Environmental Control to begin the work, which involves taking a more environmentally friendly approach to ease erosion in the forest.
Dr. Gene Eidson, director of the Center for Watershed Excellence at Clemson University, is working with the City on the project, along with DHEC, the South Carolina Department of Transportation and Woolpert Inc.
Eidson recently talked with City Council members about the undertaking, which will involve installing rain gardens, bio swales and pervious pavement – which absorbs storm water – in downtown streets and parkways. Officials hope the measures will lessen the amount of storm water and pollutants that run into Hitchcock Woods.
Larry Morris, director of the City’s Public Works Administration and Engineering department, is optimistic about the proposal.
“The City has been working on trying to solve this problem for many, many, many years,” Morris said. “Any water that we can remove from Sand River certainly will help.” More details.
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South Boundary Delight
Adorable cottage located on fabulous South Boundary Avenue.Everything has been re done!Beautiful hardwood floors,open floor plan,high ceilings and a fantastic private yard! Call Susan for more details @ 803 645 8881.
SOLD
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Historic water trough will be back in action
An object that has played a significant role in Aiken’s history and at one time helped to hydrate what was once the city’s preferred mode of transportation was moved June 16 and will once again serve the purpose it was meant for.
A horse trough that had previously been behind the County courthouse not only has a new home but will also be part of Aiken’s 175th anniversary celebration in 2010.
Fox and Hound Realty’s broker Billy Benton told Elliott Levy, Aiken County Historical Museum executive director, about the horse watering trough that was behind the courthouse, mentioned that it wasn’t in use and suggested that it would be a nice idea to move it to a location where it could be used, just outside Banksia.
Levy played an integral role in helping with the project, working with both City and County officials, and making it come to fruition, said Benton, in an e-mail. A number of organizations have been involved with the project, including the Aiken County Public Works department and the Friends of the Aiken County Historical Museum.
“Billy, myself and Tom Cofer (a project member of the Equine Hydrology Feature Working Group) feel that the horse community that will be using the horse trough will also be supportive of the project,” said Levy. “The labor will be provided by the County and City, but the materials like the recirculating pump costs money, and hopefully the horse community will come to our assistance.” Full Details.
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HOME AFFORDABLE REFINANCE PROGRAM TO 125% LOAN-TO-VALUE.
FHFA AUTHORIZES FANNIE MAE AND FREDDIE MAC TO EXPAND HOME AFFORDABLE REFINANCE PROGRAM TO 125% LOAN-TO-VALUE.
Aiken Downtown Apartment
Beautifully rennovated 2nd floor one bedroom apartment above a restaurant in downtown Aiken available for short or long term rental. Rent does not include utilities, minimum rent is $1,000 per month but varies depending on length of contract and whether it is taken furnished or unfurnished. Contact Nancy Johnson for more information 803-335-8740.
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Freddie Mac gets another $6.1B from government
NEW YORK — Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday.
The company could also be close to naming a new, permanent CEO, according to a report in The Wall Street Journal.
The Federal Housing Finance Agency, which has been operating Freddie Mac since last fall, requested the funds for Freddie Mac after the mortgage firm’s liabilities exceeded its assets by more than $6 billion, according to the filing with the Securities and Exchange Commission.
After drawing the funds, Freddie Mac has now received $51.7 billion from the Treasury Department and still has access to an additional $149.3 billion to help it finance operations. Full Story.
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Aiken Depot coming together
The construction currently taking place on Union Street is beginning to look more and more like Aiken’s original railroad depot each day.
Tim Simmons, chairman of the All Aboard! fundraising campaign, said members of the railroad committee are working closely with the depot’s architect and contractors that make sure the building’s interior and exterior are closely in line with what the depot looked like in the early 1900s. Workers with Stewart Builders Inc. are constructing the depot.
“There is a lot of effort to make sure the depot is historically in keeping with the original building,” said Simmons.
He said committee members are relying on historical documents and old photographs to assist them in trying to replicate the building.
The depot is being built north of Park Avenue on the Union Street right-of-way.
The $3 million project will serve as a railroad museum, complete with interactive railroad dioramas which will be stored on the second floor. The building will also be used as a visitor’s center for the City of Aiken and the office for the City of Aiken’s Parks, Recreation and Tourism Department.
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County’s spay/neuter program is back
The Aiken County Animal Shelter’s spay/neuter voucher program is back.
The new fiscal year has begun, and the $30,000 County Council included in its budget is now available to fund the program.
Much like the City of Aiken’s spay/neuter program, the County provides spay/neuter vouchers to residents who require financial assistance to have their pets fixed.
Concern grew during Council’s budget deliberations because the program’s funding, which had first been allocated in 2008, had been depleted.
Members of the Animal Control Advisory Board approached Council and urged them to budget another $30,000 to continue funding the vouchers, which it did.
Members on Council and the Animal Control Advisory Board believe spaying and neutering cuts down on the number of unwanted offspring surrendered to shelters or left to roam as strays in Aiken County.
According to the Humane Society of the United States, a fertile cat can produce up to three litters every year with an average number of four to six kittens per litter.
A fertile dog can produce up to three litters every year with six to 10 puppies per litter.
Vouchers are granted depending on the animal and its gender – a dog’s spaying is up to $100; a dog’s neutering is up to $75; a cat’s spaying is up to $75; and a cat’s neutering is up to $45.
The qualified applicant presents the voucher to any veterinarian in the County.
Vets accept the vouchers as payment for the surgery then turn them in to the County on a monthly basis for reimbursement.
For more information on animals available for adoption at the Aiken County Animal Shelter, visit www.petfinder.com, call 642-1537 or visit the facility at 411 Wire Road.
Voucher applications are available at the shelter.
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Fort Gordon Concert Band to play today at Hopelands
The Hopelands Summer Concert Series will continue today with a performance from Fort Gordon Concert Band, presented by The Friends of Hopelands and Rye Patch.
The Hopelands Summer Concert Series will continue throughout the summer each Monday night until the end of August.
All concerts will begin at 7 p.m. unless otherwise noted and will be held at Hopelands on the Windham Performing Arts Stage.
The concert series is intended to bring the performing arts to Aiken and the surrounding area for fans of all ages. Admission to the series is free.
Hopelands Gardens is located just off Whiskey Road (Highway 19). Public parking is available at the Green Boundary Club on Whiskey Road across from the Gardens.
Handicap, performers and staff parking will be located at Rye Patch. There is no parking on Berrie Road or Dupree Place.
Call 643-4661 for information on concert time/location in the event of rain. Call 642-7631 for more information on the concert series schedule.
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Appraiser Checklist
Help sellers understand what to expect during the appraisal process by sharing information on how appraisers reach their property value estimates.
Here are some of the factors that appraisers Joni L. Herndon of Real Property Analysts/Gulf Coast in Tampa, Fla., and John A. Hillas of Hulbert & Associates Inc. in Modesto, Calif., say they consider when determining value.
Incentives and concessions.
Closing date.
Condition and curb appeal.
Foreclosures.
Changing demographics.
Economic clouds.
Chemistry.
Full story….
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Top Rising, Falling Housing Markets
When the recovery in housing finally comes, some housing markets will rebound sooner than others. Real estate forecasting service Local Market Monitor, which covers the nation’s 300 largest markets, has identified 13 markets where it predicts home prices will rise in the coming months and 11 markets where it expects home prices will continue to decline significantly.
To make these picks, Local Market Monitor uses a proprietary formula. Here are the 13 markets where it expects prices to rise:
1. Baton Rouge, La.
2. Buffalo-Niagara Falls
3. Dallas-Plano-Irving
4. Fort Worth-Arlington
5. Houston-Sugar Land-Baytown
6. Little Rock-North Little Rock-Conway, Ark.
7. McAllen-Edinburg-Mission, Texas
8. Oklahoma City
9. Rochester, N.Y.
10. San Antonio
11. Syracuse, N.Y.
12. Tulsa
13. Wichita, Kan.
Here are the 11 markets where it believes home prices will continue to decline:
1. Bakersfield, Calif.
2. Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.
3. Fresno, Calif.
4. Las Vegas-Paradise
5. Miami-Miami Beach-Kendall
6. Orlando-Kissimmee
7. Oxnard-Thousand Oaks-Ventura, Calif.
8. Phoenix-Mesa-Scottsdale
9. Riverside-San Bernardino-Ontario, Calif.
10. Stockton, Calif.
11. West Palm Beach-Boca Raton-Boynton Beach, Fla.
Source: Local Market Monitor (06/23/2009)
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Retailers Experiment with Short-Term Rentals
Short-term rental deals that allow retailers to experiment with a concept without committing to a long-term lease are growing more popular, especially in urban areas.
Known as “pop-up” stores, these deals are being reluctantly accepted by landlords because they are better than nothing. “It’s not something they really . . . like. But considering the economic conditions now, it’s something they’re forced to accept,” says Amir Korangy, publisher of the Real Deal, a real estate trade magazine.
J.C. Penney, which doesn’t have stores in New York City, has been experimenting with pop-up stores there. It is a way of reaching “all key stakeholders – customers, investors and associates – and creating buzz,” says company spokeswoman Kate Parkhouse.
Source: The Wall Street Journal, A.D. Pruitt and Karen Talley (07/01/2009)
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Mortgage Applications Bounce Back
Mortgage applications bounced back last week after nearly a month in the doldrums when the number of applications fell to a seven-month low.
The market index compiled by the Mortgage Bankers Association rose 6.6 percent on a seasonally adjusted basis to 548.2 points from 514.4 points the previous week.
On an unadjusted basis, the index increased 6 percent compared with the previous week and rose 17.2 percent compared with the same week a year ago.
Both purchases and refinances were up with the purchase share increasing 7.3 percent and refinances rising 5.9 percent.
Source: Mortgage Bankers Association (06/24/2009)
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Freddie Mac gets another $6.1B from government
By STEPHEN BERNARD Associated Press NEW YORK — Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday. The company could also be close to naming a new, permanent CEO, according to a report in The Wall [...]
New-Home Sales Nearly Flat in May
Sales of new homes were virtually flat in May, compared to April, but down about one-third from the number of sales during the same period a year ago, the Commerce Department reported Wednesday.
Home sales slid 0.6 percent to a seasonally adjusted annual rate of 342,000. The number of new homes for sale declined 2.3 percent to 292,000, a 10.2-month supply.
The decline in new-home sales was entirely focused on the South, where sales fell 8.5 percent for the month. Meanwhile, sales of new homes gained 1.3 percent in the West and posted double-digit gains of 28.6 percent and 18.6 percent in the Northeast and Midwest, respectively.
“Today’s report provides further evidence that the recovery is going to be a slow one as the housing market continues to bump along, trying to find a bottom,” the National Association of Home Builder’s Chief Economist David Crowe says. “The good news is that, even as the sales pace leveled in May, inventories of unsold new homes continued to shrink for a 25th consecutive month – a trend that is helping bring supply and demand into better alignment and thereby setting the stage for an eventual market recovery.”
Source: The National Association of Home Builders (06/24/2009)
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Mortgage Rates on a Roller Coaster
After spiking to six-month highs a couple of weeks ago, mortgage rates fell again last week only to rise again this week.
Interest on 30-year fixed mortgages settled at an average of 5.42 percent this week, reports Freddie Mac, up from 5.38 percent in the previous week but lower than the prevailing rate of 6.45 percent a year ago.
Five-year, hybrid adjustable-rate mortgages also bumped up a couple of notches to 4.99 percent, but 15-year fixed loans and one-year ARMs moved in the opposite direction. The former slipped to 4.87 percent from 4.89 percent, while the latter fell to 4.93 percent from 4.95 percent.
Source: Wall Street Journal (06/26/09)
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Appraisal issue coming to a head
NAR calls for suspension of rules governing Fannie, Freddie loans
An increasingly common complaint of Realtors — that “lowball” appraisals below agreed-upon sales prices are derailing many home sales — has been taken up by industry trade groups.
The National Association of Realtors and the National Association of Home Builders have both identified issues surrounding appraisals as a factor putting a damper on sales of new and existing homes in May — the first month new rules governing appraisals conducted on loans slated for purchase by Fannie Mae and Freddie Mac took effect. Full Story
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Farmers Market to hold pre-Fourth event
There will be a Pre-Fourth of July celebration at the Aiken County Farmers Market on Thursday from 4 to 7 p.m.
The event will be held in conjunction with Thursday Nights at the Farmers Market, the City’s new experiment which has the market open extra hours on Thursday evenings. The new Thursday schedule began on May 28.
The additional day was introduced in an effort to draw shoppers who would not typically visit the Farmers Market, according to City officials.
Coleen Reed, a member of Farmers Market Committee, said the Pre-Fourth of July celebration will include music, as well as free cake and ice cream. Reed also noted that it is currently peak season for corn, cantaloupe, watermelon and tomatoes and said farmers will have the fruits and vegetables at the market.
The Farmers Market will be open on the Fourth of July for its regular hours.
The Aiken Farmers Market is one of the oldest farmers’ markets in the state. It is also listed on the Aiken Historic Register.
The market is located on Williamsburg Street, between Park and Richland avenues. It is open Monday through Saturday from 7 a.m. until noon or until the farmers sell out.