What’s All the Huffing and Puffing About in North Carolina?

                                                                                                                                                                  

Will It Blow Our Houses Down and Our Insurance Companies Away?

Just as President-Elect Obama has the economy to keep him awake at night, our newly elected North Carolina Commissioner of Insurance, Wayne Goodwin, has inherited an issue sure to cause nightmares.  What do you do with a $70 billion coastal property exposure growing at the rate of $900,000.00 per month but not enough insurance to put it all back if hit with a Katrina?

Most homes insured along our coastline are covered for wind and hail through the NC Beach Plan, also called the Wind Pool, sometimes called the Last Resort.  This is a result of insurance companies excluding wind and hail on homeowners policies because of the huge exposure.   This plan currently has around $2.4 billion in reserves, or money available to pay claims.    Do the math.  $70 billion minus $2.4 billion equals NOT NEARLY ENOUGH MONEY.  What happens if (or when) our coast has a major storm?  When the $2.4 billion is handed out and more is needed the state will begin to access all licensed property insurers in NC according to their percentage of the market.  For example, Hurricane Floyd hit the coast in 1999 and a carrier could have easily been assessed $30 million.  If a major storm hits the coast their cut of the damage today would exceed six times that amount.  So even though companies may choose to exclude the coverage, they still have to help pay for the claims.  And if some companies declared bankruptcy as a result of a major storm the remaining companies would be assessed again.  How does this impact us?  Many options are being explored: • Increase homeowner premiums for coastal property. • Increase wind and hail deductibles for coastal property. • Increase homeowner premiums across the state. • Many of our companies are already asking for a better spread of risks; they want agencies to write auto and other lines of business as well as homeowners, or we may be forced to move the homeowners only client to another company. What’s the worst that could happen?  Companies could begin a mass exodus out of North Carolina.  Farmers Insurance has already left the state.  Encompass, an independent market of Allstate, has declared a moratorium on new property insurance.   Nationwide announced they will stop writing new “wind and hail policies” in North Carolina. As with the economy there is no quick fix, just the hope that the wind doesn’t blow for a few more years until this can be resolved.   In the meantime, I will let you know of any changes that may affect you or your clients.      

Annette White  (704-957-2764)  annette.white@allentate.com

                                                                                                      704-896-5141     Allen Tate Company      www.LeeAnnMiller.com

8,000 New Reasons to Buy Now!

First-Time Home Buyer Tax Credit Effective Through December 2009   As part of the new economic stimulus bill passed on February 13, 2009, first-time home buyers may take advantage of an $8,000 tax credit on the purchase of a principal residence from January 1 through December 31, 2009. The credit, which does not require repayment, will be claimed on a tax return to reduce the buyer’s income tax liability. Individuals filing “single” Form 1040 filing status must have an adjusted gross income not to exceed $75,000. Individuals filing a joint return may have income of no more than $150,000. The credit is for 10 percent of the cost of the home, up to a limit of $8,000. This new tax credit replaces the previous $7,500 tax credit (loan) created by the Housing and Economic Recovery Act in July 2008.                                                                         LAMT&ATClogo                                                                       704-896-5141 Office                                                                     www.LeeAnnMiller.com

Real Estate: 142 West Paces Road-Mooresville, NC

Sunset Beauty!                             Click Here to view additional information & photos HOUSE INFORMATION: Wonderful waterfront home with breathtaking sunset views! Transitional 2.5 story, full brick home nestled on 1.17 acres. Private owner’s suite located on main level with views of Lake Norman, lighted tray ceiling, sitting area, access to covered terrace & luxurious bath. Owner’s bath features heated tile floors, dual sinks, whirlpool tub & a separate spa shower. Great room boasts two story ceilings, built-in cabinetry & great water views. In the kitchen you will notice the beautiful contrast between the dark cabinetry & the granite countertops, island, stainless appliances, bar height sitting area, good cabinet space & separate breakfast area. Columns, tray ceiling & picture frame molding offset the formal dining room from the grand entry.  The main level also features a home office & two staircases. The second level offers three bedrooms and a first class media room with wet bar & theater seating. The third level offers good flex space which could be used as storage, exercise room or studio. One of the best features of this home is the yard. Huge front yard with wrought iron gated entry. Gorgeous rear yard with lots of room to relax & enjoy the lake views. Large terrace that overlooks rear yard & lake with custom fireplace on one end & covered sitting area on the other. Plus this home has a side load three car garage, pier/dock with boat slip,  hardwood & tiled floors, professional landscaping, lighting & over 20 zone irrigation system. A stunning home in an upscale, gated, waterfront community.  Must see to believe!                                                                                            
PROPERTY LOCATION: Street: 142 West Paces Road Subdivision: West View Tax Location/ZipIredell /28117                     MLS Area: 13-2 LISTING INFORMATION:                     Status: Active CategorySingle Family MLS826815      Price: Call 704-896-5141
  Some properties that appear for sale on this website may subsequently have been sold and may no longer be available.                                         

Real Estate: 14501 Hwy 73 -Huntersville, NC

Exclusive Waterfront                                      click here for additional information and photos     HOUSE INFORMATION:  Rare find! Transitional waterfront home on 1.3 acres with the option to purchase an additional 1.2 acres for a rare Estate on Lake Norman. View miles of water views from the sandy beach or from extensive porches & terraces. Tree lined entrance to home for extra privacy. Wonderful home for entertaining inside or out. Home completely redone in 1987 with less than 5% of original home used. Light hardwood floors offset the rest of the warm colors throughout home and the granite countertop in the Kitchen. Spacious Great Room offers sitting area, dining area, Library loft, access to screened porch or terrace and breathtaking views of the lake. The large 8ft circular window is the focal point of the Great Room and is located in the Library loft. The perfect spot to relax and read a book. Secluded main level Owner’s Suite insures a peaceful night’s sleep with its picturesque lake views. Owner’s Suite also features a separate sitting area with fireplace & private access to rear terrace. Lake level offers a second Great Room or Recreation Room, second dining area, Kitchenette (or wet bar), two bedrooms & home office space. If you love to spending time reading or relaxing after a long day of work, then this is the home for you. Imagine getting to do both while enjoying the sights and sounds of the Lake Norman from your fabulous screened porch or many terraces & patios. Great location with easy access to Charlotte, Cornelius, Denver, Birkdale, restaurants & more!
PROPERTY LOCATION: Street: 14501 Hwy 73                                                      
Subdivision: None
Tax Location / Zip: Huntersville/ 28078
MLS Area: 13-4
  LISTING INFO:                    Status: Active
Category: Single Family            
MLS: 2016110
Price: 704-896-5141
 Some properties that appear for sale on this website may subsequently have been sold and may no longer be available.
                                                
                                         

Charlotte, NC Sports Teams & Events

 Panther Stadium

 

Sporting events always draw big crowds in the Charlotte area.

  FOOTBALL The Carolina Panthers (704-358-7800, www.panthers.com) took to the field as an NFL expansion team in 1995 and rose to a magical season in 2004, making their first-ever Super Bowl appearance against the New England Patriots. Their home, the natural-grass Bank of America Stadium, is located in Third Ward Uptown. BASKETBALL The NBA returned to Charlotte in 2004 thanks to Black Entertainment Television founder Robert Johnson. The Charlotte Bobcats (704-262-2287; www.nba.com/bobcats) play in the new Charlotte Arena in Uptown. The Charlotte area is also home to wonderful ACC teams (www.theacc.com) such as North Carolina, Duke, Clemson, North Carolina State & Wake Forest. BASEBALL The Charlotte Knights (704-364-6637, www.charlotteknights.com), a farm club for the Chicago White Sox, have played baseball in the Charlotte area for more than 100 years. They currently play at Knights Stadium in Fort Mill but may move closer to the city soon. HOCKEY On the ice, the Charlotte Checkers (704-342-4423,  www.gocheckers.com) are the East Coast Hockey League affiliates of the New York Rangers and the AHL’s Hartford Wolf Pack. The team recently moved to the Charlotte Arena. SOCCER For soccer fans there are the Charlotte Eagles, a professional team in the second division of the United Soccer Leagues, and the Lady Eagles, who play in the Atlantic division of the USL’s W league (704-841-8644, www.charlotteeagles.com). The season runs from April to August. GOLF In May 2003, Wachovia first sponsored the PGA tour to Charlotte at Quail Hollow Country Club , which has welcomed by such golfing greats as Tiger Woods and Phil Mickleson. It began as the Wachovia Championship but is now know as the Quail Hollow Championship. (800-945-0777, www.quailhollowchampionship.com). NASCAR

NASCAR races roar at Lowe’s Motor Speedway in Concord, including the Coca-Cola 600 and the Sprint All-Star Challenge in May and the UAW-GM Quality 500 in October (704-455-3200, www.lowesmotorspeedway.com). Racing excitement spills from the speedway into uptown Charlotte during Speed Week each May. You can enjoy a parade, fireworks, entertainment, food and special events leading up to the races.

FISHING The Charlotte Regional Sports Commission (704-332-7717, www.charlottesports.org) sponsors other sporting events in the Charlotte Area, like the Citgo Bassmaster Classic at Lake Norman. The commission also works to bring in sports organizations and teams, which contribute millions to the local economy and enhance the area’s overall quality of life.  OTHER SPORTING EVENTS Other big sporting events include the Charlotte Run for Peace and 10K (www.charlotterunforpeace.com) in January and the Queens Cup Steeplechase in Mineral Springs in Union County (704-843-7070, www.queenscup.org) in April. In addition, there’s the Charlotte Ultraswim in June (704-846-5335, www.justswimmac.org/ultraswim). The Continental Tire Bowl brought the excitement for a college football bowl game to the Carolinas and has recently been changed to the Meineke Car Care Bowl. Played at Bank of America Stadium and featuring the ACC and Big East Conference, the game draws a crowd of more than 70,000. HOT AIR BALLOONS In September, the sky’s the limit for the National Hot Air Balloon Rally (704-873-2892, www.statesvillechamber.org) near Statesville.                                                                                                                                                             704-896-5141 Office                                                        www.LeeAnnMiller.com                                                            Allen Tate Company

Real Estate: 392 Furnace Road–Eastern Lincoln County, NC

Tuscan Treasure 756485 Front                                   Click here for additional information and photos   HOUSE INFORMATION:    You will feel like your on vacation every time you pull into your driveway! Stunning European home nestled on a peaceful setting of 3.9 acres with a small meadow on back of property perfect for horses or vineyard. Home was designed after a beautiful Tuscan retreat and not a single detail was left out from Mahogany doors, Cooper accents, Australian Cypress wood floors, exposed wood beams to the two story stone fireplace. This home will not disappoint! Tranquil sounds from the water fountain welcome you into this estate where you enter into an impressive two story Great Room that contains the 30’ stone fireplace, Spruce hardwood ceiling, turret, floating staircase, 2 coat closets  & massive exposed wood beams. The Great Room opens into the true Tuscan Kitchen. Kitchen offers distressed Cherry cabinets, Granite countertops, brick accents, walk-in pantry and an AGA gas stove top & electric oven complete with range master warmer. The Dining Room is only a few steps away and is accented by a beautiful custom arched window, Old World chandelier and has access to courtyard. Main level owner’s suite features a trey ceiling, stone fireplace, and a luxurious spa like bathroom. Owner’s bathroom offers a Jacuzzi Tub, tumbled stone walk-in shower, large walk-in closet & private access to rear terrace that overlooks salt water pool & acreage. Two additional bedrooms, Kitchenette, Bonus room/4th bedroom are located on the second level. Basement level is plumed & framed for future expansion. Also unfinished is a studio styled apartment above the detached 3 car garage. Home wouldn’t be complete without the computerized salt water pool. Enjoy it year round with waterfall, spa & jumping rock. The estate also features a wireless internet that extends to pool area. Lots of other details that you will need to see in person. Private setting with hills, meadows & a small creek that would make an excellent property for horses, Vineyard or true Tuscan lovers!
PROPERTY LOCATION: Street: 392 Furnace Road
Subdivision: None
Tax Location / Zip: Iron Station /28080                          
MLS Area: 13-4
LISTING INFO:                    Status:
Category: Single Family
MLS: 756485 
Price: Call 704-896-5141
   Some properties that appear for sale on this website may subsequently have been sold and may no longer be available.                                                                                  

Charlotte Area Lake Living: Mountain Island Lake

 Sunset & Boat From Bridge

Mountain Island Lake ________________________________________________________________________________________ Created in 1924 with the construction of the Mountain Island Hydroelectric Station, Mountain Island Lake is the smallest of the three area lakes, with 61 miles of shoreline and 3,281 acres of surface area. Located about 15 miles northwest of Uptown Charlotte, Mountain Island provides drinking water for some 600,000 residents of Mount Holly, Gastonia and Charlotte. Much of the area surrounding the lake is part of Latta Plantation Preserve and the Catawba Lands Conservancy. For this reason, Mountain Island is the least developed of the three lakes, the boat traffic is relatively light. Latta Plantation Preserve, 1,343-acre park operated by Mecklenburg County, also houses Historic Latta Plantation and the Carolina Raptor Center. Sixteen miles of hiking and horse riding trails wind through the park, many of which provide scenic views of the lake.

 

Mountain Island Lake Public Access Areas Neck Road Access Area—N/A Cowan’s Ford Waterfowl Refuge—704-875-1391 Riverbend Access Area—N/A Mountain Island Tailrace Fishing Area—N/A Latta Plantation Park—704-875-1391 For more information about area lakes, go to http://www.duke-energy.com/lakes/   Boating Guidelines for Area Lakes
  • A general speed limit is implied, depending on the conditions. Excessive speed that endangers persons or property is prohibited.
  • Operating a watercraft with a blood-alcohol content 0.08 and greater is prohibited.
  • Waterskiing is prohibited between one hour after sunset and one hour before sunrise.
  • Any vessel towing a skier must have rear vision mirror or carry an observer.
  • Watercraft entering, leaving or passing within 50 yards of a boating or fishing access area must observe a no-wake speed zone.
  • The minimum age or operating a personal watercraft is 14. Those age 12-16 must pass an approved boating safety course.
  • All recreational vehicles must have a personal floatation device for each person aboard. Recreational vehicles 16 feet and longer must have one throw able Type IV personal flotation device. All must be readily accessible.
                                                                                                                                             704-896-5141 office                                                                    www.LeeAnnMiller.com                                                                          Allen Tate Company

Charlotte Area Shopping Centers

Ayrsley     NC 49 at I-485     Charlotte, NC  28273     704-643-4148     www.ayrsley.com     Baxter Town Center & Village Shops    1030 Assembly Drive    Fort Mill, SC 29708    877-570-4663    www.villageofbaxter.com    Birkdale Village    8712 Townley Road    Huntersville, NC 28078    704-895-8744    www.birkdalevillage.net    Carolina Place Mall    11025 Carolina Place Parkway    Pineville, NC 28134    704-543-9300    www.carolinaplace.com    Concord Mills    8111 Concord Mills Boulevard    Concord, NC 28207    704-979-5000    www.concordmills.com      Hickory Furniture Mart     2220 Hwy 70 SE    Hickory, NC 28602    800-462-6278   www.hickoryfurniture.com  Monroe Mall    2115 W. Roosevelt Boulevard    Monroe, NC 28110    704-289-6547 www.shopmonroemall.com    Northlake Mall    6801 Northlake Mall Drive     Charlotte, NC 28216     704-921-2005     www.shopnorthlake.com    Phillips Place                      Cameron Valley Parkway at     Fariview Rd    Charlotte, NC 28210 www.phillipsplace.com       Prime Outlets-Gaffney    1 Factory Shops Boulevard    Gaffney, SC 29341    888-545-7194    www.primeoutlets.com   Rock Hill Galleria    2301 Dave Lyle Boulevard    Rock Hill, SC 29730    803-324-1711    www.rockhillgalleria.com    South Park Mall    4400 Sharon Road    Charlotte, NC 28211    704-364-4411    www.southpark.com    Shoppes at University Place     8929 J.M. Keynes Drive    Charlotte, NC 28262    704-549-4811   www.shoppesatuniversityplace.com Specialty Shops on the Park    Morrison Boulevard at    Roxborough Rd    Charlotte, NC     Westfield Eastridge Mall    246 N. New Hope Road    Gastonia, NC 28054    704-867-1847    www.westfield.com/eastridge     704-896-5141 Office   Allen Tate Company  www.LeeAnnMiller.com