Citigroup, one of the largest banks in the world and recipient of at least $25 billion from the TARP, saw it's shares sink to record lows with the market slashing it's price to under $4.00.  Fears of huge loan losses that have not been written off its books caused the stock price to drop by over 50% last week.  Investors were concerned that the liquidity of the bank is in question and that the government make create a takeover of the company that would wipe out common shareholders.  Since there are few companies that  could absorb the huge banking giant, the government is sinking further into nationalization of our banking industry.  These types of actions only delay the effects of free market actions by protecting troubled companies at the expense of companies that have shown better ma... 11/23/2008

You would think that with the economy in shambles, with jobs being lost, companies going under and the demand for mortgage money going down, interest rates would follow the same rules as supply and demand.  With the lack of demand, banks should be lowering rates to create demand.  But this is not the case.  Rates are actually going up.  The banks have something that the normal business doesn't have. That is a monoply on the money that is loaned in America.   Of course, many people and for sure banks would say that there is great diversity in lending, but since we as individuals can't go to the Fannie Mae lending window, we are shut out of low interest money.   It is a shame that the banks couldn't see that lowering rates would at least make them look less greedy, considering they are bo... 11/18/2008

When will the general public wake up?  The big issue today is not the economy, not terrorism, not the housing crisis.  No, the press wants you to think the big thing going on now is the dilemma that Barack and Michelle Obama have-where to send their kids to school! This is the problem that our next President has.  He has also denied the same opportunity for millions of people that have children and would like to send them to better schools than their local public schools.  He  gets to send his children to the best schools, we get the worse. For those that think I am dissing Obama, not at all.  The current and past crops of elected officials have created lives that are the envy of the normal American.  They have salaries that have not in any way faced pressures of outsourcing or globaliz... 11/11/2008

My good friend Angelina Taddeucci is an unbelievable artist who never ceases to amaze me with her creations. Angelina is a muralist and innovative faux painter who specializes in transforming new construction and private homes into enviable works of art. She's also had her portrait, mural and still life paintings featured in schools and museums as well as numerous art galleries throughout North Carolina. Enjoy some of her recent works and don't forget to watch as she creates her Facebook 'graffiti" skecth right before your very eyes at the bottom of this post.             Her creativity and talents are limitless as evidenced by this Facebook "graffiti" she drew while talking on the phone the other day!   And Angelina created this one while drinking her morning coffee!   If you or your c... 11/09/2008

This was one of my favorite decorative elements for my recent room design for the Habitat For Humanity Restore Spaces event.  It was so creative and added just the right amount of sparkle. What did I do?  I simply laid a vanity light flat on its back and added tea light candles.  Voila!  You have a beautfiul conversation piece! The biggest compliment on the night of the event was seeing a couple go and purchase a vanity light so they could do the same treatment on their mantel.  Awesome!  That is exactly the reason that I do what I do...to inspire! Here are two pix!    10/27/2008

I recently was one of 8 designers who participated in a great event for Habitat for Humanity.  The event was to raise awareness for the Restore Retail location and the great programs that Habitat does in our area.  The challenge was to shop the Restore and use the donated items to decorate a room.  I was assigned the "Living Room".  We had 2 weeks leading up to the event to select items to refinish, repurpose, etc.  But, we only had 2 days to put the room together.  We were givien 3 unfinished plywood walls and a cement floor.  Well, I made some Lemonade out of Lemons! I am honored to have won 2 out of 3 awards that night.  I won the Judge's Choice and People's Choice Award.  The Judge was the Mayor of Winston Salem, NC!   I was so thrilled.  He could not believe how I transformed some ... 10/26/2008

Did you know that today is Columbus Day?  You know, that dude that discovered America?  We honor him for the achievement, but do you really know why it matters/ BECAUSE THE GOVERNMENT IS CLOSED FOR THE DAY! Our world works better when we don't have to contend with the government messing up things.  At least today, no additional money was spent, no new taxes created, no dumb comments by politicans.  What a beautiful day it is! 10/13/2008

The Federal Reserve announced Tuesday that it would now begin to purchase short term commercial paper from banks in an effort to stop the stranglehold that the credit crunch has on American businesses.  The effort comes on top of the massive 850 billion dollar bailout of the same banks "bad" mortgages.  By taking on the debt, it is perceived that banks will now begin to loan money to businesses, consumers and among themselves.  How is this good for the average taxpayer?  Unless you are wanting to borrow money right now, this problem really only affects your home values and possibly your job in the event of a deep recession.   But if the recession was going to come anyway, the chances are that you would have lost your job anyway.  So in essence, this is another fat cat bailout of those w... 10/08/2008

The Federal Reserve announced Tuesday that it would now begin to purchase short term commercial paper from banks in an effort to stop the stranglehold that the credit crunch has on American businesses.  The effort comes on top of the massive 850 billion dollar bailout of the same banks "bad" mortgages.  By taking on the debt, it is perceived that banks will now begin to loan money to businesses, consumers and among themselves.  How is this good for the average taxpayer?  Unless you are wanting to borrow money right now, this problem really only affects your home values and possibly your job in the event of a deep recession.   But if the recession was going to come anyway, the chances are that you would have lost your job anyway.  So in essence, this is another fat cat bailout of those w... 10/08/2008

The fifth annual Yadkin Valley Grape Festival is scheduled for Oct. 18th in downtown Yadkinville.  Area wineries are gathering to present their products for tasting.  Arts and crafts, food and music will highlight the day.  Thousands are expected to attend, get there early for easy parking.  The event is for the promotion of the the Yadkin Valley Wine Association.  Area wineries bring to the community much needed revenue from their operations.  Come out and support your neighbors and enjoy the day.   Dale Terry http://yadkincountyrealestate.com -Providing real estate services for the Yadkin Valley  including Yadkinville, Jonesville, Hamptonville, Elkin, Mocksville, and Boonville.  Also serving Yadkin County, Davie County, Forsyth County, Surry County and the town of Lewisville and the C... 10/07/2008

The Senate voted to overturn a 3 decade ban on the sale of nuclear technology to India.  The Senate passed the measure 86-13 which allows American businesses to sell fuel, technology and reactors to India.  Opponents argued that safeguards were not in place to protect future use of the technology for weapons development.  the US House has also passed a similar measure. The new measure will allow US companies to profit in the multibillion dollar nuclear industry that will now go forward in India.  Some senators said the pact protects US security interests while others felt that the increase in India's nuclear market will start a new arms race in the region, supported by the fact that some Indian companies have already been selling nuclear technology to Iran.  India has built nuclear bomb... 10/01/2008

Let's look at the past 50 years.  Banks have reduced standards for qualifying for a mortgage loan to the point where there is was a minimal amount of funds needed to get into a home.  In years past, 15 to 20 percent down payment was needed to qualify.  The slow reduction in down payment amounts has corresponded to the rise in credit card use.  Why would you want to get 7% or so on a mortgage when upwards to 30% can be achieved?   The banks realize that a person with a mortgage is more likely to pay their bills, or even borrow more money.  Our bankruptcy laws, lending protection laws have been gutted to basically allow the banks free rein to take the wealth of the nation's citizens.  Big government has worked closely with the banks to fuel its increase in size and need for more taxes.   ... 09/17/2008

Most people now know that the federal government has stepped in and taken control of the mortgage entities Fannie Mae and Freddie Mac.  What is not known is the results that will come from this action.  Many US banks will be forced to write downt their immediate holdings of preferred and common stock of the two giants in that the stock is now worthless.  The government takes on the debt and will have to issue a few billion in debt to prop up the entities.  Since the government will need to prove to investors that it has a good handle on the problem, interest rates will rise to cover the cost of the bailout.  Other world institutions will then have to change their stances on how they look at US  debt and investments.  Also, many banks will fail, now that they no longer will have access t... 09/10/2008

The federal government announced today that is was taking control of mortgage entities Fannie Mae and Freddie Mac.  The ailing companies have lost most of their value since the downturn of the real estate market.  The government will now need to sell debt to shore up the two companies and to provide capital to the companies bottom lines.  Since the announcement, stock prices have risen and it looks like the markets are viewing this as a favorable event.    What you need to know:  The government now owns a lot of people's houses.  That flies in the face of our constitution and the right to own property.  An argument could be made that it was the government that started the problem in the first place by reducing the restrictions on banks and the GSEs  as it pertains to mortgage loans.   T... 09/08/2008

The US unemployment rate had its sharpest one month increase in 22 years last month.  With a weakening job market, consumers now have to face more than just the housing slump and high gas prices. The data shows a drop in non farm payrolls for the fifth straight month, suggesting that manufacturing and the retail sectors are seeing a drop in consumer demand.  One bright note is that the numbers will probably keep the Federal Reserve from raising interest rates anytime soon.  But that is a small consolation to those that are living from day to day. This also should be additional ammunition for those who believe we are in a recession, something the government is unwilling to admit at present.  The stock market has dropped another 300 points as investors move from speculative sectors to mor... 09/04/2008

  Condoleezza Rice is expected to meet with Libyan leader Moammar Gadhafi today marking the end of a three decade old empty relationship A brutal terrorist of the 80s, Gadhafi has supposedly abandoned his positions on weapons of mass destruction and has renounced terrorism.  He has even gone as far as setting up a fund to compensate victims of his countries terrorist acts.  At present, no money has been deposited in the account.  Gadhafi, has been in power of Libya for decades and been elected to the UN Security Council.  He has sided with the US on issues such as Iran's nuclear program and other minor items but has not taken a stand on other major problems in the middle east. The visit coincides with the renewed interest of US companies wanting to do business in Libya, especially in th... 09/04/2008

The Gulf region is  bracing for a hurricane this weekend and it is all over the news.  Communities on the coast are working to prepare for the worst.  But does this make common sense?  It would seem that it would be logical not to build in areas prone to flooding, but each and every one of these hurricanes and storms brings out the political heavyweights asking the federal government-that means you, to pay for the damage.   So next week we will probably see the LA governor in a helicopter flying over the flooded areas telling us what is going on.  This has been repeated how many times?  Do we want our citizens to be injured or killed in these situations?  Of course not, but I sure get tired of hearing about how so much effort is made to clean up and then think that it won't happen again... 09/01/2008

Got too many Critters visiting your home?    Many homeowners are going to be facing the onslaught of uninvited guests in the coming months.  I don't mean neighbors and friends, those we can handle.  I mean bugs, furry little animals and maybe even a few flying ones too.   With the weather going to change to much cooler temperatures, all of our outdoor friends take shelter for protection. They are picky devils, wanting something warm safe and secure.  Sounds like your home doesn't it?  Warmer temperatures mean larger populations and you need to be proactive before they take up residence.   There are plenty of things that you can do as a homeowner to stop these nuisances.   Inspect your home thoroughly.  Are there any openings in the roof and overhangs  Is the chimney cap properly secured... 08/18/2008

 Winter Check up Now!    I know, you are still basking in that last round of golf where you made a couple of birdies, or maybe frantically trying to get the kids off to school or maybe sneak in that last vacation before fall.  But winter is on the way and there are things to do now that will save you time and expense in the coming months.  Many of these things take very little time and are easier to do in the warmth of summer than the cold of winter.   Clean out your gutters.  Easier to do now and the water from your water hose is cool and refreshing, not hand numbingly cold. Paint exposed wood.  It will retain its effectiveness longer than when applied in cold weather. Change oil in lawn equipment.  In  a few weeks, the mowing season will end and doing this now allows for the ability t... 08/18/2008

I am asked all the time questions concerning the real estate market.  Opinions are many, with the doctor, the waitress, and even the plumber will opine on the condition of it.  The question," how are homes selling?" is a big one, but the correct answer is usually not very indicative of individual properties.  The better one is. "Why is that home not selling?"   Every seller wants to net the highest amount of money when they sell a property.  Each has philosophies on how they want to market their property.  But there are some things that a seller does that can short circuit their attempts at selling and can cause them to fail at their desires.   Pricing the property too high- If your home is not priced competitively, people that are looking in your price range will reject your home and l... 08/13/2008