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 | Northeastern North Carolina Real Estate Blog |
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Friday, 22 August 2008
 Museum of the Albemarle
501 S. Water Street
Elizabeth City, NC 27909
www.museumofthealbemarle.com
Contact: Thomas Spagnol (252) 335-1453
ENJOY A DAY ON THE RIVER FEATURING THE CLASSIC MOTH BOAT
The Friends of the Museum of the Albemarle invite you to participate in the 20th annual "A Day on the River featuring the Classic Moth Boat" Saturday September 20. Free family activities presented by the Museum’s Junior Docents begin at 10:00 am on the Museum Green with children’s crafts including making a miniature wooden sailboat, and making pirate hats. Enjoy the maritime music of performer Bill Darrow. Watch boat building demonstrations from the COA boat building class, and meet “Coastie” the talking boat from the U. S. Coast Guard. The Regatta begins at 11:00 am, and races will continue throughout the day featuring classic moth boats and classes for other small boats. Race registration is limited so sign up now! Also, from 10:00 am to 2:00 pm visitors can participate in a book discussion and signing by C.S. Harrington author of Marsh Runners and meet Mullet Roar author William K. Brown and Dismal? The Great Dismal Swamp author Ben Casey who will host presentations in the Gaither Auditorium at 11:00 am and at 2:00 pm.
On sale in the lobby are limited edition t-shirts featuring the classic moth boat’s 20th anniversary at $15.00 each.
A Museum benefit dinner will begin at 5:00 pm. Tickets are available through the Museum at $10.00 each. All proceeds from the benefit dinner and the sale of t-shirts and other memorabilia will benefit the Friends of the Museum of the Albemarle.
The Museum of the Albemarle is located at 501 S. Water Street, Elizabeth City, NC. (252)335-1453. Hours are Tuesday-Saturday 9:00 am - 5:00 pm, Sunday, 2:00 pm - 5:00 pm. Closed Mondays and State Holidays. Serving Bertie, Camden, Chowan, Currituck, Dare, Gates, Hertford, Hyde, Northampton, Pasquotank, Perquimans, Tyrrell, and Washington counties, the museum is the northeast regional history museum of the North Carolina Division of State History Museums. Department of Cultural Resources, State of North Carolina."Telling Our Stories".
http://www.mothboat.com/
Classic Moth Boats are a class of small fast singlehanded racing sailboats that originated in the US in 1929 by Joel Van Sant in Elizabeth City, NC. The Classic Moth is a development class with an eleven foot over-all length, a maximum beam of 60 inches, a minimum hull weight of 75 pounds, 72 Sq Ft sail area, and very few other restrictions A Moth can be a skiff, pram, scow, skinny tube, dinghy, or any combination thereof. As such the Classic Moth Boat is an ideal class for amateur designers builders and tinkerers, an can be easily built from inexpensive materials.
If you wake up in the middle of the night with a novel idea for hull shape, you can leap out of bed, race down to your garage, build it and then find out at the next regatta if your idea is hot or not. Freedom of design sets Moths apart from the clorox bottle (one-design) crowd. Instead of the design controlling who sail successfully, we design and build boats that fit our size, ability, taste, skills, artistic expression, and pocketbook
Over the years various "Moth" classes have appeared around the world. In addition to the Classic Moth, one can find reference to Australian Moth", "British Moth", French Moth, Modern Moth, Vintage Moth, and "International Moth". All have eleven foot hulls, and all can trace their origins to either the US or Australian Moth (or both!).
Presently, Classic Mothboats race in several locations on the east coast of the US. Regattas are currently held in Brigantine, NJ; Portsmouth, VA; Norfolk, VA; Elizabeth City, NC; and Charleston, SC., and St. Petersburg, FL. Please refer to the regatta schedule in this site for dates and contact information.
Monday, 11 August 2008
Students are returning to their dorms this week at ELizazbeth City State University and Roanoke Bible College here in town. Our 2 year community college, the College of the Albemarle starts back next week.
Here is an article about a motorcycle fundraiser RBC just had I which thought might interest you.
Bikers 'Ride to the Light' for RBC
Goal was to raise $5K for missions program
By Toby Tate
Staff Writer, the Daily Advance
Monday, August 11, 2008
Approximately 20 motorcyclists took part in the first-ever "Ride to the Light" Saturday, a scholarship fundraiser for Roanoke Bible College.
Mark Woolard, an ordained minister and member of RBC's Class of 1990, said participating bikers rode to the Cape Hatteras Lighthouse and returned Saturday night.
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Staff photo by Justin Falls
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Motorcyclists participating in a fundraiser for Roanoke Bible College ride on U.S. Highway 17 en route to Cape Hatteras Lighthouse, Saturday.
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The goal of the motorcycle rally was to raise money for RBC's cross-country missions program, said Woolard, who pastors Stoneybrook Church of Christ in Wilson. A cross-country missionary is someone who wants to minister about God's word in a foreign country, he said.
"Our goal is at least $5,000," Woolard said. "If you reach that goal you can make it a permanent scholarship."
Woolard said he decided to organize the ride as a fundraiser for RBC after noticing more and more people riding motorcycles — particularly among members of his church.
"I started a riding ministry at church," he said. "Somebody suggested we start a fundraiser ride for the college, and I told them I would head that up."
The reason for choosing the Hatteras lighthouse for their destination is no mystery, Woolard said. The light is part of RBC's logo.
"We thought that would be a neat symbolic place to go," he said.
Riders paid $50 to ride in Saturday's event. After expenses, the funds will go into the RBC scholarship fund, Woolard said.
Though the majority of support for the rally came from colleges and churches, RBC asked that the riders also get sponsors, such as family, friends and work associates, to help raise even more money.
The night before the ride, participants received a meal, listened to a guest speaker and enjoyed live music. They spent the night in RBC dorms.
Woolard said he didn't expect a huge turnout for the first Ride to the Light, but hoped that word-of-mouth would help increase turnout for next year's event.
"We'll start it this year and see how it progresses as we build up a database of contacts," he said. http://www.dailyadvance.com/news/content/news/stories/2008/08/11/0811RBCBikersTT.html
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There are all sorts of good reasons to live in the Albemarle area. Call Phyllis Bosomworth at 252 339 5151 or Erin Nixon at 252 435 5043 to help you find just the right home today!
Sunday, 10 August 2008
Are you a first time home buyer, or nearing foreclosure on your old mortgage loan? Here is an article I thought you might like to read about mortgage help that President Bush has recently signed. Call us at Phyllis and Company, and Erin and I can help you navigate this issue to keep you in your home or help you find that first home, now!
How housing rescue bill can help you
The legislation - likely to be enacted soon - devotes $300 billion to helping troubled homeowners avoid foreclosure. See if you qualify.
By Les Christie, CNNMoney.com staff writer
Last Updated: July 28, 2008: 3:59 AM EDT
NEW YORK (CNNMoney.com) -- The Senate on Saturday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
President Bush is likely to sign the bill into law within days. [He signed it on July 30th]. After the law kicks in on Oct. 1, thousands of at-risk borrowers will be able to refinance their unaffordable old mortgages into new low-cost fixed-rate loans insured by the Federal Housing Administration (FHA).
The Congressional Budget Office estimates that 400,000 borrowers with $68 billion in loans may benefit from the program - but the bill allows foras many as 1 million or 2 million borrowers to participate in the program.
Here's what homeowners need to know.
Who's eligible?
Qualified borrowers must live in their homes and have loans that were issued between January 2005 and June 2007. Additionally, they must be spending at least 31% of their gross monthly income on mortgage debt to be eligible for the program.
They can be up to date on their existing mortgage or in default, but either way borrowers must prove that they will not be able to keep paying their existing mortgage - and attest that they are not deliberately defaulting just to obtain lower payments.
Before homeowners can get FHA-backed mortgages, they must first retire any other debt on the home, such as a home equity loan or line of credit. Borrowers are not permitted to take out another home equity loan for at least five years, unless it's to pay for necessary upkeep on the home.
To get a new home equity loan, borrowers will need approval from the FHA, and total debt cannot exceed 95% of the home's appraised value at the time.
How can I apply?
Borrowers can contact their current mortgage servicer or go directly to an FHA-approved lender for help. These lenders can be found on the Web site of the Department of Housing and Urban Development.
How does the refinancing process work?
This is a voluntary program, so lenders holding the original mortgage have to agree to rework a given loan before things can get started. The bill requires lenders to make major concessions, writing down the value of the loan to 90% of the home's current value. In areas where prices have plummeted by as much as 20%, that will mean a substantial loss for the lender.
But lenders won't sign off on a workout unless they think that they'll lose less money on that than they would by allowing a home to go through the costly foreclosure process.
Each loan will have to be underwritten by an FHA lender on a case-by-case basis. That means the banks will do a new appraisal to determine the home's current value, as well as examine and verify income statements, bank accounts, job histories and credit scores.
Based on that new appraised home value, the FHA lender must determine how much the original lender has to reduce the original mortgage, so that it will reflect 90% of the home's market value.
If the original lender agrees to the writedown, the new lender buys the old loan and takes over the reworked mortgage.
As part of the deal, the old lender writes off any fees and penalties on the original mortgage, including prepayment penalties, and accepts the proceeds from the new loan on a paid-in-full basis. Additionally, it pays the FHA an up-front premium equal to 3% of the mortgage principal.
What does it cost?
There should be little up-front costs for borrowers to bear. Loan origination fees will vary by lender, but these can usually be paid by the borrower over the life of the loan in the form of a slightly higher interest rate.
However, the refinanced loans do come with many strings. For one thing, borrowers are responsible for paying an insurance premium to the FHA guaranteeing the loan, which will be 1.5% of the principal annually.
Borrowers also agree to share any profits from future home-price appreciation with the FHA. To do that, they'll pay a "3% exit fee" of the mortgage principal to the FHA when they resell or refinance.
Plus, they'll agree to pay the FHA 100% of any profits they realize from higher home prices if they sell or refinance within a year. So if the original loan principal is $200,000 and the home sells for $250,000, the borrower will owe the FHA $50,000, minus costs.
After a year, borrowers will share 90% of the profits with the FHA. The percentage keeps dropping in 10% increments to 50% after the fifth year, where it stays.
What will I save?
Savings depend on what borrowers are paying for their present loan and where they live, but for most people it will be substantial, even after factoring in the FHA fees.
In areas that have sustained huge price drops, such as Sacramento, Calif., where prices have fallen by about 30% over the past year, some loans might be reduced by more than 40%.
Additionally, the FHA loans carry reasonable interest rates, which are fixed for the life of the loan, as opposed to a subprime adjustable-rate mortgage that can jump higher every six months. 
First Published: July 26, 2008: 11:48 AM EDT
Sunday, 10 August 2008
Please join us at the Museum of the Albemarle in a celebration of crafts in the Albemarle region. The Albemarle Craftsman's Guild has shown their wares in an annual display and fair for fifty years! The guild adopted the motto, "To Learn, To Create, To Teach" and it has ensured their mission for half a century. This reception will feature live music and light refreshments and the Historic Roundtable is sure to be fascinating as Guild members present highlights of the past fifty years.
This event is free and open to the public. For more information call 252 35 11453.
Museum of the Albemarle
501 South Water Street
Elizabeth City, NC 27909
http://www.museumofthealbemarle.com/
There is always something of interest going on in Elizabeth City and the greater Albemarle Sound region. Please Phyllis (252 339 5151) and Erin (252 435 5043) at Phyllis and Company to help with your housing needs in Pasquotank, Perquimans, Camden, or Currituck!
Monday, 04 August 2008
Pasquotank County and Elizabeth City has been supportive of and connected to the United States Coast Guard since 1940. Today we celebrate the Coast Guard's 218th birthday, so HAPPY BIRTHDAY TO YOU!! Here is an USCG official press release:
WASHINGTON -- The U.S. Coast Guard is celebrating 218 years of service as America's maritime guardians today. The United States Coast Guard -- Proud History. Powerful Future.
"The Coast Guard has a proud history, and on the occasion of our birthday, we must pay tribute to those who came before us," said Adm. Thad W. Allen, commandant. "We must also rededicate ourselves to making the Coast Guard the best it can be for those who will follow in our footsteps."
This year's birthday coincides with a historic event and an important step forward in the Coast Guard's modernization, the commissioning of the first National Security Cutter, Bertholf, in Alameda, Calif.
The Bertholf and its sister ship Waesche, which was christened on July 26, are at the forefront of the Coast Guard's fleet modernization. The National Security Cutters will improve operational readiness and enable the Coast Guard to fulfill its multi-mission roles more effectively through better sea keeping, higher sustained transit speeds, greater endurance and range, and a greater ability to launch and recover improved small boats, helicopters, and eventually unmanned aerial vehicles - all key attributes in enabling the Coast Guard to implement increased security responsibilities.
Additional modernization efforts include added capabilities to workhorse assets like the MH-65C helicopter, C-130 aircraft and the Medium Endurance Cutter (WMEC) fleet as well as introduced new assets such as the Response Boat-Medium and the HC-144a Ocean Sentry patrol aircraft. The Coast Guard is also adding capacity to its marine safety program, improving our shore-based command and control capabilities and achieving a greater degree of maritime domain awareness. All Coast Guard modernization efforts are designed to improve mission execution and enable the Coast Guard to be more adaptive to the maritime challenges of the 21st century.
The Coast Guard is one of America's five armed forces and traces its founding to Aug. 4, 1790, when the first Congress authorized the construction of ten vessels to enforce tariff and trade laws, prevent smuggling, and protect the collection of the federal revenue. Considerable responsibilities have been added over the years including humanitarian duties such as aiding mariners in distress. The service received its present name in 1915 when the Revenue Cutter Service merged with the U.S. Life-Saving Service to form a single maritime service dedicated to safety of life at sea and enforcing the nation's maritime laws. http://www.piersystem.com/go/doc/786/219223/
We have five major Coast Guard commands in Elizabeth City:
Support Center Elizabeth City
Air Station Elizabeth City
Aircraft Repair and Supply Center
Aviation Technical Training Center
National Strike Force Coordination Center
All but the National Strike Force are located on the Support Center complex four miles south of Elizabeth City.
 Normally there are about 900 active duty members and 575 civilian employees associated with Coast Guard in the Elizabeth City area. The annual Coast Guard payroll is about $32 million. The Support Center staff maintains 800 acres of real estate, including more than five miles of runways and taxiways, four miles of roads, 68 buildings, and units of Coast Guard owned family housing. The staff maintains the pay and personnel records for local area Coast Guard members. The staff also provides transportation and logistics support, and medical and dental treatment.
 The Aircraft Repair and Supply Center (AR&SC) overhauls and makes major repairs and modifications to all Coast Guard aircraft and associated equipment. It performs procurement, accounting, stock inventory control, storage, issue and shipping of aircraft parts, supplies and aeronautical equipment. The AR&SC also provides technical support in the engineering and avionics fields for all Coast Guard aviation.
In 1978, the Aviation Technical Training Center opened its doors for students as a central training location for all enlisted aviation personnel.
Officially opened 15 Aug 1940 as a seaplane base, the Air Station was the first of the Coast Guard commands in Elizabeth City. Today, the air station has five long range aircraft and three helicopters. The unit's missions include search and rescue; law enforcement for fisheries, drug and migrants; aids to navigation logistics flight support; marine environmental protection; the International Ice Patrol; and operative flights for other federal state, and local agencies.
Elizabeth City aircraft have conducted missions from as far south South America, along the east coast of the United States and Canada. http://www.elizcity.com/uscg/
We at Phyllis and Company and Long and Foster are proud to have helped locate housing for these wonderful military families throughout the years in Elizabeth City and all the Albemarle Sound areas. Please call Phyllis Bosomworth at 252 339 5151 or Erin Nixon at 252 435 5043 for any way we can assist you.
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Phyllis Bosomworth
Erin Nixon
Long and Foster Real Estate, Inc.
1100 W. Ehringhaus Street
Elizabeth City, North Carolina 27909
Phone: (252) 338-5435
Email: Phyllis@PhyllisAndCompany.com
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