Friday, October 29, 2010
Main Durham News Feed: Free Admission for Durham County Residents
Main Durham News Feed: Free Admission for Durham County Residents: "On Sunday, November 7, the Museum of Life and Science is hosting “Durham Appreciation Day” from noon to 5pm. For free admission, each adult..."
Thursday, October 28, 2010
Tuesday, October 26, 2010
Durham Energy Fair is Free and Today at 11 am!
Durham Energy Fair October 26
Event is Free and Open to the Public
DURHAM, N.C. – Durham residents interested in learning how to save money on their energy bills should make plans now to attend the Durham Energy Fair.
To celebrate Energy Awareness Month, Durham County Government and the City of Durham are sponsoring the Durham Energy Fair on Tuesday, October 26, 2010, to help provide information to residents and local government employees about the many ways to reduce energy and save on energy bills. The free event is scheduled from 11 a.m. until 2 p.m. at the Durham County Main Library, located at 300 N. Roxboro Street.
The fair will feature more than 20 exhibitors, providing information on topics ranging from solar hot-water systems to energy audits to energy-efficient landscaping. The Durham Energy Fair exhibitors include:
Durham Bicycle Pedestrian Advisory Commission
Bountiful Backyards
Carbon Free Home
Carolina Solar Security, Inc.
Energy Handyman
Evangelist Service Company (Geothermal)
Green Horizons
Healthy Home Insulation
Home Depot
Live Green, Inc.
NC Greenpower
Plot Watt
PSNC
Self-Help Credit Union
Skyward Solar
Solar Consultants
Strata Solar
Sundog Solutions
Durham City-County Green Teams
Triangle Sealed Crawlspace
Triangle Transit
City of Durham Department of Water Management
Durham Energy Fair attendees will not only learn about numerous ways to save energy and reduce energy bills at home, they will also learn about energy-saving tips for traveling and at work. Attendees will also receive information about the Energy Star tax holiday, taking place November 5-7 throughout North Carolina. Participants in the Durham Energy Fair Scavenger Hunt will also be eligible to win prizes, including a $50 gift certificate to Home Depot, home energy monitors, programmable thermostats, water conservation kits, blueberry bushes, and $50 worth of solar blocking window film.
“As colder weather sets in, a lot of people want to know how to make their homes more comfortable while saving energy and money,” said Tobin Freid, manager of the Durham City/County Sustainability Office. “There are opportunities to reduce energy use in so many ways. The variety of exhibitors at the Durham Energy Fair will provide ideas and products for people to make smart choices about changes they can make in their own lives to save energy and reduce greenhouse gas emissions.”
The Durham Energy Fair is one of many activities developed by Durham County Government and the City of Durham to educate employees and Durham residents on ways to improve the environment. Durham County Government and the City of Durham adopted the Greenhouse Gas Emissions Reduction Plan in 2007. Durham was the first community in North Carolina to adopt a plan to reduce emissions contributing to climate change.
For more information about the Durham Energy Fair or the Durham Greenhouse Gas Emissions Reduction Plan, contact Freid at (919) 560-7999 or via e-mail at tfreid@durhamcountync.gov or visit www.GreenerDurham.net.
Event is Free and Open to the Public
DURHAM, N.C. – Durham residents interested in learning how to save money on their energy bills should make plans now to attend the Durham Energy Fair.
To celebrate Energy Awareness Month, Durham County Government and the City of Durham are sponsoring the Durham Energy Fair on Tuesday, October 26, 2010, to help provide information to residents and local government employees about the many ways to reduce energy and save on energy bills. The free event is scheduled from 11 a.m. until 2 p.m. at the Durham County Main Library, located at 300 N. Roxboro Street.
The fair will feature more than 20 exhibitors, providing information on topics ranging from solar hot-water systems to energy audits to energy-efficient landscaping. The Durham Energy Fair exhibitors include:
Durham Bicycle Pedestrian Advisory Commission
Bountiful Backyards
Carbon Free Home
Carolina Solar Security, Inc.
Energy Handyman
Evangelist Service Company (Geothermal)
Green Horizons
Healthy Home Insulation
Home Depot
Live Green, Inc.
NC Greenpower
Plot Watt
PSNC
Self-Help Credit Union
Skyward Solar
Solar Consultants
Strata Solar
Sundog Solutions
Durham City-County Green Teams
Triangle Sealed Crawlspace
Triangle Transit
City of Durham Department of Water Management
Durham Energy Fair attendees will not only learn about numerous ways to save energy and reduce energy bills at home, they will also learn about energy-saving tips for traveling and at work. Attendees will also receive information about the Energy Star tax holiday, taking place November 5-7 throughout North Carolina. Participants in the Durham Energy Fair Scavenger Hunt will also be eligible to win prizes, including a $50 gift certificate to Home Depot, home energy monitors, programmable thermostats, water conservation kits, blueberry bushes, and $50 worth of solar blocking window film.
“As colder weather sets in, a lot of people want to know how to make their homes more comfortable while saving energy and money,” said Tobin Freid, manager of the Durham City/County Sustainability Office. “There are opportunities to reduce energy use in so many ways. The variety of exhibitors at the Durham Energy Fair will provide ideas and products for people to make smart choices about changes they can make in their own lives to save energy and reduce greenhouse gas emissions.”
The Durham Energy Fair is one of many activities developed by Durham County Government and the City of Durham to educate employees and Durham residents on ways to improve the environment. Durham County Government and the City of Durham adopted the Greenhouse Gas Emissions Reduction Plan in 2007. Durham was the first community in North Carolina to adopt a plan to reduce emissions contributing to climate change.
For more information about the Durham Energy Fair or the Durham Greenhouse Gas Emissions Reduction Plan, contact Freid at (919) 560-7999 or via e-mail at tfreid@durhamcountync.gov or visit www.GreenerDurham.net.
Paper Shredding & E-Waste Recycling Event Success
Durham Reports Paper Shredding & E-Waste Recycling Event Success
Residents Reminded to Recycle E-Waste Year-Round
DURHAM, N.C. – Durham residents came out in force and made the free paper shredding and electronic scrap (e-waste) event offered at Northgate Mall on October 2nd a huge success.
According to Donald Long, director of the City’s Department of Solid Waste Management, approximately 1,560 vehicles dropped off 73,820 pounds of e-waste, such as computers and televisions, as well as 34,600 pounds of paper for shredding and 7,300 pounds of cardboard at the event.
“The turnout for this event was staggering and we had to turn folks away about 45 minutes before the event officially ended. We had simply run out of resources to continue to properly place electronics on the pallets and the shredding truck was filled to capacity,” Long said. “Many residents gave us very positive feedback and were very excited that such an event was taking place. Our staff was so pleased at the success of this event that we plan to begin holding one on a quarterly basis, with the next one tentatively scheduled in January 2011.”
Durham residents who missed the successful event at can still safely and conveniently recycle their old computers and televisions. The City’s Department of Solid Waste Management is reminding residents that computers and televisions are accepted for recycling throughout the entire year at the City’s Household Hazardous Waste Facility. The facility, located at 1900 E. Club Blvd., is open Tuesdays and Wednesdays from 12 p.m. to 6 p.m. and Thursdays through Saturdays from 7:30 a.m. to 3 p.m.
For more details about other items accepted at this facility, contact Durham One Call at (919) 560-1200 or visit the City’s website at www.durhamnc.gov/departments/solid/hazardous_waste.cfm.
Residents Reminded to Recycle E-Waste Year-Round
DURHAM, N.C. – Durham residents came out in force and made the free paper shredding and electronic scrap (e-waste) event offered at Northgate Mall on October 2nd a huge success.
According to Donald Long, director of the City’s Department of Solid Waste Management, approximately 1,560 vehicles dropped off 73,820 pounds of e-waste, such as computers and televisions, as well as 34,600 pounds of paper for shredding and 7,300 pounds of cardboard at the event.
“The turnout for this event was staggering and we had to turn folks away about 45 minutes before the event officially ended. We had simply run out of resources to continue to properly place electronics on the pallets and the shredding truck was filled to capacity,” Long said. “Many residents gave us very positive feedback and were very excited that such an event was taking place. Our staff was so pleased at the success of this event that we plan to begin holding one on a quarterly basis, with the next one tentatively scheduled in January 2011.”
Durham residents who missed the successful event at can still safely and conveniently recycle their old computers and televisions. The City’s Department of Solid Waste Management is reminding residents that computers and televisions are accepted for recycling throughout the entire year at the City’s Household Hazardous Waste Facility. The facility, located at 1900 E. Club Blvd., is open Tuesdays and Wednesdays from 12 p.m. to 6 p.m. and Thursdays through Saturdays from 7:30 a.m. to 3 p.m.
For more details about other items accepted at this facility, contact Durham One Call at (919) 560-1200 or visit the City’s website at www.durhamnc.gov/departments/solid/hazardous_waste.cfm.
Saturday, October 23, 2010
2010 HOUSING OPPORTUNITY SURVEY
Americans Still Believe Buying a Home Is a Good Financial Decision
NAR's eighth annual Housing Opportunity Pulse Survey reveals that nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership. The telephone survey of 1,209 urban and suburban adults in the top 25 metropolitan statistical areas was conducted for NAR by American Strategies and Myers Research & Strategic Services for NAR's Housing Opportunity Program.
Some key results:
Americans continue to believe that buying a home is a good financial decision (77 percent believe total strongly or not so strongly, 68 percent strongly so).
More than two-thirds of respondents (68 percent) say that now is a good time to buy a home.
Job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery.
Respondents see the recession and job losses as the main reasons for the foreclosure problem, a shift from last year when they more likely to blame homeowners who bought homes they could not afford.
A majority of renters say that owning a home at some point in the future is either one of their highest priorities (39 percent) or a moderate priority (24 percent). Just 21 percent of renters say that owning a home is not a priority at all.
Frustration with banks is up: now a majority worry that banks have made it too hard to qualify for a home mortgage loan.
51 percent of respondents say foreclosures remain a big or moderate problem in their area. While there has been a significant drop in the percentage of those surveyed who say foreclosures have increased, 51 percent say that the rate of foreclosures is about the same as it was last year.
Most of those surveyed say that it is harder to sell a home in their neighborhood than it was a year ago.
Looking forward, 70 percent expect real estate sales in their neighborhood to remain about the same over the next few months. A nearly identical number (69 percent), also expect home values to remain the same.
Nearly one-quarter (23 percent) are now very concerned about the number of homes and condos for sale in their area—a number that is up 7 points from last year.
Most respondents are more concerned about the drop in home values than they are about home costs being too high. Still, cost remains the significant barrier to many who would otherwise like to buy a home.
NAR's eighth annual Housing Opportunity Pulse Survey reveals that nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70 percent of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership. The telephone survey of 1,209 urban and suburban adults in the top 25 metropolitan statistical areas was conducted for NAR by American Strategies and Myers Research & Strategic Services for NAR's Housing Opportunity Program.
Some key results:
Americans continue to believe that buying a home is a good financial decision (77 percent believe total strongly or not so strongly, 68 percent strongly so).
More than two-thirds of respondents (68 percent) say that now is a good time to buy a home.
Job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery.
Respondents see the recession and job losses as the main reasons for the foreclosure problem, a shift from last year when they more likely to blame homeowners who bought homes they could not afford.
A majority of renters say that owning a home at some point in the future is either one of their highest priorities (39 percent) or a moderate priority (24 percent). Just 21 percent of renters say that owning a home is not a priority at all.
Frustration with banks is up: now a majority worry that banks have made it too hard to qualify for a home mortgage loan.
51 percent of respondents say foreclosures remain a big or moderate problem in their area. While there has been a significant drop in the percentage of those surveyed who say foreclosures have increased, 51 percent say that the rate of foreclosures is about the same as it was last year.
Most of those surveyed say that it is harder to sell a home in their neighborhood than it was a year ago.
Looking forward, 70 percent expect real estate sales in their neighborhood to remain about the same over the next few months. A nearly identical number (69 percent), also expect home values to remain the same.
Nearly one-quarter (23 percent) are now very concerned about the number of homes and condos for sale in their area—a number that is up 7 points from last year.
Most respondents are more concerned about the drop in home values than they are about home costs being too high. Still, cost remains the significant barrier to many who would otherwise like to buy a home.
FHA Programs:
• As the leading advocate for homeownership, the National Association of Realtors® strongly supports the Federal Housing Administration’s single- and multifamily mortgage insurance programs.
• The FHA single-family mortgage program has played an important and vital role in the mortgage marketplace. Nearly 33 million families have achieved the dream of homeownership through FHA since 1934.
• NAR has long maintained that the principal barrier to homeownership is accumulating the money needed for downpayment and closing costs.
• Many first-time home buyers rely on FHA loans to purchase a home, which only require a 3.5 percent downpayment, in many cases
• Major reforms in recent years and increased loan limits have greatly increased FHA's market-share. However, FHA continues to operate with 30-year old technology and limited staffing resources.
• Although FHA's capital reserve fund has fallen below the congressionally mandated level of 2 percent. FHA also has a cash reserve account separate from the capital reserve. FHA's actual total reserves are higher than they have ever been - with combined assets of $30.4 billion.
• Because FHA plays a vital role in helping families achieve the dream of homeownership, it must be strengthened and supported.
• FHA has taken steps to ensure its long-term financial soundness.
• NAR continues to lobby Congress to permanently increase the FHA loan limit.
• NAR continues to advocate on behalf of the FHA single-family mortgage insurance program and has called on Congress and the new administration to work together to appropriately fund the staffing and infrastructure that will complete FHA modernization.
Background
In October 2009, President Obama signed legislation that contained a provision to keep the existing higher FHA loan limits of 125 percent of the median home sales price, capped at $729,750. This increase is only temporary and will expire on December 31, 2010 to 115 percent of the median home sales price, capped at $625,500.
In October 2009, FHA announced that its capital reserve fund had fallen below the congressionally mandated level of 2 percent. The capital reserves are not FHA’s only reserve fund – FHA also has a cash reserve account separate from the capital reserve. FHA actual total reserves are higher than they have ever been – with combined assets of $30.4 billion. However, the drop in capital reserves has led Congress and the administration to call for changes to strengthen FHA.
In January 2010, FHA announced major changes to ensure its long-term financial soundness, including:
• The upfront mortgage insurance premium will increase but may be financed.
• Borrowers with a credit score below 580 will be required to have at least a 10 percent down payment (the minimum down payment will remain at 3.5 percent for all other borrowers).
• FHA will seek legislative authority to increase the annual premium (currently capped at 0.55 percent).
• Seller concessions will be reduced from 6 percent to 3 percent.
NAR partnered with FHA to create a toolkit for Realtors® and home
• The FHA single-family mortgage program has played an important and vital role in the mortgage marketplace. Nearly 33 million families have achieved the dream of homeownership through FHA since 1934.
• NAR has long maintained that the principal barrier to homeownership is accumulating the money needed for downpayment and closing costs.
• Many first-time home buyers rely on FHA loans to purchase a home, which only require a 3.5 percent downpayment, in many cases
• Major reforms in recent years and increased loan limits have greatly increased FHA's market-share. However, FHA continues to operate with 30-year old technology and limited staffing resources.
• Although FHA's capital reserve fund has fallen below the congressionally mandated level of 2 percent. FHA also has a cash reserve account separate from the capital reserve. FHA's actual total reserves are higher than they have ever been - with combined assets of $30.4 billion.
• Because FHA plays a vital role in helping families achieve the dream of homeownership, it must be strengthened and supported.
• FHA has taken steps to ensure its long-term financial soundness.
• NAR continues to lobby Congress to permanently increase the FHA loan limit.
• NAR continues to advocate on behalf of the FHA single-family mortgage insurance program and has called on Congress and the new administration to work together to appropriately fund the staffing and infrastructure that will complete FHA modernization.
Background
In October 2009, President Obama signed legislation that contained a provision to keep the existing higher FHA loan limits of 125 percent of the median home sales price, capped at $729,750. This increase is only temporary and will expire on December 31, 2010 to 115 percent of the median home sales price, capped at $625,500.
In October 2009, FHA announced that its capital reserve fund had fallen below the congressionally mandated level of 2 percent. The capital reserves are not FHA’s only reserve fund – FHA also has a cash reserve account separate from the capital reserve. FHA actual total reserves are higher than they have ever been – with combined assets of $30.4 billion. However, the drop in capital reserves has led Congress and the administration to call for changes to strengthen FHA.
In January 2010, FHA announced major changes to ensure its long-term financial soundness, including:
• The upfront mortgage insurance premium will increase but may be financed.
• Borrowers with a credit score below 580 will be required to have at least a 10 percent down payment (the minimum down payment will remain at 3.5 percent for all other borrowers).
• FHA will seek legislative authority to increase the annual premium (currently capped at 0.55 percent).
• Seller concessions will be reduced from 6 percent to 3 percent.
NAR partnered with FHA to create a toolkit for Realtors® and home
Wednesday, October 20, 2010
Mobile Detailing in Durham
Fall Special - Now through November 30th, 2010 - Receive a Complimentary Floor Mat Shampooing or Seat Spot Cleaning with any Wash and Wax service purchased. Please mention this customer loyalty special at the time of booking your appointment to receive this promotion.
Wash & Wax services begin at $75 for a small vehicle, $85 for a medium vehicle, and $95 for a large vehicle.
Please visit our website for a full listing of services prices and vehicle size descriptions, or please call us. www.1stclassmobiledetail.com
If you don't see a time on the website that will work for you when scheduling, please give us a call and we will see what flexibility we can find in the schedule for you. We would also be happy to schedule your appointment over the phone anytime.
The WASH & WAX service will keep your vehicle looking its best and help protect it. It is suggested you wax your vehicle every three to four months to keep it looking its best.
Please feel free to share this promotion with your friends and colleagues. Please ensure this special is mentioned at the time of booking your service so the appropriate time is allotted.
We hope this message finds you well, and thank you for your continued support.
Michael Thompson, Owner
1st Class Mobile Detailing
www.1stclassmobiledetail.com
919-557-6107
Wash & Wax services begin at $75 for a small vehicle, $85 for a medium vehicle, and $95 for a large vehicle.
Please visit our website for a full listing of services prices and vehicle size descriptions, or please call us. www.1stclassmobiledetail.com
If you don't see a time on the website that will work for you when scheduling, please give us a call and we will see what flexibility we can find in the schedule for you. We would also be happy to schedule your appointment over the phone anytime.
The WASH & WAX service will keep your vehicle looking its best and help protect it. It is suggested you wax your vehicle every three to four months to keep it looking its best.
Please feel free to share this promotion with your friends and colleagues. Please ensure this special is mentioned at the time of booking your service so the appropriate time is allotted.
We hope this message finds you well, and thank you for your continued support.
Michael Thompson, Owner
1st Class Mobile Detailing
www.1stclassmobiledetail.com
919-557-6107
It's Time to Vote!
It’s On Now !!!
Voting trends are definitely trending upward in terms of voter turnout. And it looks like it’s going to heat up even more as we move toward the weekend. You can help turn out the vote by doing the following:
· Voting yourself
· Taking all registered voters in your household to vote
· Host a “meet-up” at the Board of Elections and post to FB as a “prelude” to a later event that same evening (in other words, vote first - then hang out)
· Call 10 people you know and encourage them to vote
· Encourage friends to attend the film screening of “Obama in NC” on Sunday, October 24, 2010 at Union Baptist Church (904 N. Roxboro St.) – particularly young people who need to understand the dynamics of this historic event
· Encourage friends to visit The Committee’s website to see who the endorsed candidates are at www.durhamcommittee.com
The link to find out the latest daily voting totals for Durham County is http://www.durhamcountync.gov/departments/elec/2010_Election/November%20Election/One%20Stop%20Turnout.html.
Voting trends are definitely trending upward in terms of voter turnout. And it looks like it’s going to heat up even more as we move toward the weekend. You can help turn out the vote by doing the following:
· Voting yourself
· Taking all registered voters in your household to vote
· Host a “meet-up” at the Board of Elections and post to FB as a “prelude” to a later event that same evening (in other words, vote first - then hang out)
· Call 10 people you know and encourage them to vote
· Encourage friends to attend the film screening of “Obama in NC” on Sunday, October 24, 2010 at Union Baptist Church (904 N. Roxboro St.) – particularly young people who need to understand the dynamics of this historic event
· Encourage friends to visit The Committee’s website to see who the endorsed candidates are at www.durhamcommittee.com
The link to find out the latest daily voting totals for Durham County is http://www.durhamcountync.gov/departments/elec/2010_Election/November%20Election/One%20Stop%20Turnout.html.
Friday, October 15, 2010
Durham Tops Best Market
By M.P. MCQUEEN
Looking to snap up some investment properties on the cheap? You may want to consider Durham, N.C., Indianapolis and Huntsville, Ala. They are among the best places to invest now, according to a new report that ranks the best and worst markets for conservative residential-real-estate investors. Hard-hit Las Vegas and Orlando, Fla., are among the riskiest.
Local Market Monitor Inc., a Cary, N.C., firm that analyzes real-estate trends for lenders, builders and investors, compiled its first Investor Suitability Report using economic data through July 31 for 315 U.S. markets. The firm is best known for its housing-market forecasts, which use "equilibrium" home prices: what home values should be in relation to incomes, job growth and population. In its new report, it uses similar data to rank communities by their investment prospects, focusing on single-family homes.
Regions that rank highly for investment suitability are those where there is a low probability that home prices will fall further, says Local Market Monitor President Ingo Winzer. They are places where income is growing moderately; where employment is relatively stable because of a large percentage of jobs in health care, education or government; and where a relatively small share of jobs is in construction or financial services, which have been volatile. (Job losses in government and education tend to come later in an economic cycle, so some areas could be hit harder in coming months.)
The report, which excludes towns with fewer than 200,000 residents, focuses on price-appreciation potential instead of rental income, since falling home prices usually result in higher vacancy rates in apartment buildings and lower rents overall, Mr. Winzer says.
Good markets for conservative investors are those that already have stabilized and should yield average returns, Mr. Winzer says. Dangerous markets probably will see further price declines and have little potential for a turnaround because of poor local economies.
So-called speculative markets, by contrast, are those where prices could fall further, but which also have potential for greater appreciation of 3% to 5% annually after bottoming out—making them more suitable for investors with stronger stomachs. Local Market Monitor identifies Hagerstown, Md.; Jacksonville and Port St. Lucie, Fla.; Modesto, Calif.; and Myrtle Beach, S.C. as speculative areas.
In the best markets, home prices already are stabilizing. Durham, N.C., for instance, is home to Duke University and is near the University of North Carolina-Chapel Hill. Big companies like International Business Machines Corp., GlaxoSmithKline PLC and Nortel Networks Corp., as well as numerous biotech start-ups, have facilities at the nearby Research Triangle Corporate Park. About 40% of area jobs are in health, education or government, according to Local Market Monitor.
Haywood Davis, owner of a Century 21 real-estate brokerage in Durham, says home-sales volume in the area increased 13% last month over July 2009, though prices rose only slightly.
Some other metro areas with large percentages of relatively stable jobs and moderate growth include Knoxville, Tenn.; Lexington, Ky.; and Indianapolis.
Jason Moore, a 34-year-old auto-sales manager in Baltimore, took advantage of plunging home prices in his hometown of Indianapolis to snap up an investment property there—a brand-new four-bedroom, two-bath home—for $56,000 late in 2008.
Prices in Indianapolis were falling because of foreclosures and rising unemployment. Disappointed with their stock-market investments, Mr. Moore and his wife, Keisha, 32, decided to buy an investment property to add to their portfolio. The Indiana house is generating a positive cash flow of about $300 a month in rent after mortgage, insurance, taxes and fees, he says.
"It has been adding income, and the tax benefit has been helpful," Mr. Moore says.
Yet in gambling-and-tourism-dependent Reno, Nev., home prices slid 50% from their market peak in 2006—and don't seem to have bottomed yet. Mr. Winzer calls the city "frankly dangerous" for investors, along with Las Vegas and Naples and Orlando, Fla., because home prices are still tumbling and local economies are shaky.
John Burns, chief executive officer of John Burns Real Estate Consulting Inc. of Irvine, Calif., says he thinks Reno and Las Vegas have "overcorrected," but he agrees prices could fall further.
Dana Hall-Bradley, a real-estate agent in Florida's Orlando-Kissimmee area, near Disney World, says sales were up 39% last month over July 2009. But prices are still sliding because most sales involve so-called distressed properties—bank-owned homes or short sales, where lenders agree to sell properties for less than they are owed.
Investors, especially those from Canada, the U.K., Brazil and Venezuela, are buying vacation and retirement villas, condos and townhouses in the area, Ms. Hall-Bradley says, because prices already are 40% to 50% below what they were as late as 2007. Many are paying cash.
Condos are even cheaper. "Right now you can get a condo for $30,000 that was selling for $150,000 to $200,000 in 2005 or 2006," she says.
Eamon Lavin of Locust Valley, N.Y., recently purchased three condo units and a single-family home in Celebration, a planned community outside Orlando designed by Walt Disney Co. Mr. Lavin, 43, says he knows prices could tumble further but he isn't worried because he plans to rent out the properties for 10 or 15 years.
"I love the area, and I think it is going to come back," he says. "I get more of a return on investment than putting it in a bank or anywhere else."
The Raleigh Report
The Raleigh Report
From the Office of Representative Larry D. Hall
October 11, 2010
Our seniors have helped make North Carolina a place that is growing and vibrant and have led us through many difficult times. During my past term in the General Assembly, I supported several initiatives that we hope will keep them healthy, safe and financially secure. Whatever we have and have accomplished we owe to previous generations who made the difficult decisions and sacrifices to achieve today’s reality.
Below, I have included a few highlights of our work in the past two sessions, as well as some information from the 2010-11 budget. I hope you will find it useful.
Please contact me if I can be of any help. I look forward to continuing to serve you.
Planning - The General Assembly has directed several agencies to begin better preparing for the aging baby-boomer population. The law (SB 195 - SL2009-407) directs the University of North Carolina Institute on Aging and the Division of Aging and Adult Services to organize meetings of gerontologists, researchers and others to identify and prioritize issues the state will have to address. It also calls for the development of a website with information about how serve increasing numbers of adults.
Adult Care - The Division of Aging and Adult Services has been asked to study the issue of criminal history record checks for owners, operators, volunteers, and prospective owners, operators, and volunteers in adult day care programs and adult day health services programs. Among other things, the legislation (HB 1703 -SL2010-93) specifies that the study should identify which positions warrant a background check, develop a process for conducting the checks and designate who is responsible for requesting and paying for the check.
_County Departments of Social Services have been directed to conduct follow-up monitoring of adult care homes (HB 1186 - SL2009-232). The law is meant to improve patient safety by improving oversight of adult-care homes.
Health -_ Legislation to establish a long-term care partnership program was passed (SB 1193 - SL2010-68). Under a partnership program, a person who purchases a qualified long-term care insurance policy that provides a certain dollar amount of benefits will be allowed to disregard assets equal to the insurance payout when applying for Medicaid. States that have initiated a partnership program have found that this encourages people to plan for their long-term needs and also results in savings to their state Medicaid programs.
_ Several recommendations made by the N.C. Study Commission on Aging to expand dental care services for older and disabled North Carolinians with special care needs were approved, including having state agencies look at Medicaid reimbursement for certain services and coordinating workforce efforts to increase the number of dental care providers serving persons with special care needs. (SB 188 - SL2009-100).
_Automated calls to protect the public health, safety, or welfare are now allowed under a new state law (HB 1034 - SL2009-364). The system will be used to inform people that they have purchased products or medication that may be subject to a safety recall; that the person has not picked up a filled prescription drug or that one of their accounts may be subject to potential fraudulent activity. The calls cannot be used for any commercial purposes.
Safety - The Division of Emergency Management is establishing a voluntary registry that counties and municipalities can use to identify functionally and medically fragile people during a disaster under a new state law (SB 258 - SL2009-225). The law also authorizes counties and municipalities to operate similar registries.
_We passed a new law to clarify that a Silver Alert may be issued for a person of any age (HB 1129 - SL2009-143). The Silver Alert System is a statewide system used to notify people about missing persons believed to be suffering from dementia or other cognitive impairments. Trends show more citizens will suffers from these conditions at an increased rate and at an earlier age.
Housing - The Statutory Homestead Exemption has been increased under a new state law (HB 1058 - SL2009-417). Qualified people aged 65 or older qualify for the exemption, which increased from $37,000 to $60,000.
Budget - $100,000 was approved to support Project C.A.R.E., the respite care and support program for families caring for persons with Alzheimer’s.
_ Funding for optional services under Medicaid (such as dental care; eye care and eyeglasses; occupational, physical, and speech therapies; hospice; prosthetics and orthotics; community alternative program; and rehabilitation services) for aged, blind, and disabled adults was preserved for the most part. The one area in which there was a significant cut was to Medicaid personal care services which provides in-home help to disabled and frail older adults. This program received a recurring cut of $50.7 million. The program had been criticized for allegedly serving people who did not meet the specific disability criteria and for providing more hours of service for people than what they needed.
_ We maintained funding for the Home and Community Care Block Grant at the current level which helps older adults stay in their homes.
_ $450,000 was appropriated for the operation of the Stroke Advisory Council, the continued implementation of the public awareness campaign and identification of stroke rehabilitation services throughout the State.
_ $150,000 was authorized for a grant-in-aid to Prevent Blindness of North Carolina .
_ $50,000 was provided for a non-recurring grant-in-aid to NC Arthritis Patient Services is provided for in the budget.
Notes
_ The latest US Bureau of Labor Statistics report shows that North Carolina led the nation in employment gains from July to August with the addition of 18,600 jobs. The report also points out that our state ranked fourth among the states in employment gains from August 2009 to August 2010 with 36,700 jobs. We were third in the nation in over the year jobless rate with a decline of 1.2 percentage points.
_ Cree Inc., a global leader in LED lighting technology and products, will expand its manufacturing operations in Durham . The company plans to create 244 jobs over the next two years and invest $135 million.
_ Empire Foods Inc., an advanced-technology food processing company, will bring 200 jobs to Halifax County . The company, using technology licensed from N.C. State University , plans to create 200 jobs and invest $2.5 million over the next five years.
_ Baltek Inc., a manufacturer of core materials for the wind energy, mass transit, marine and military markets, will relocate to a new manufacturing facility in Guilford County . The company plans to create 68 jobs and invest $3.25 million over the next three years.
_ DNP IMS America Corp., a printing-technology company, will expand in Concord . The company plans to create 37 jobs and invest $24.8 million during the next three years.
From the Office of Representative Larry D. Hall
October 11, 2010
Our seniors have helped make North Carolina a place that is growing and vibrant and have led us through many difficult times. During my past term in the General Assembly, I supported several initiatives that we hope will keep them healthy, safe and financially secure. Whatever we have and have accomplished we owe to previous generations who made the difficult decisions and sacrifices to achieve today’s reality.
Below, I have included a few highlights of our work in the past two sessions, as well as some information from the 2010-11 budget. I hope you will find it useful.
Please contact me if I can be of any help. I look forward to continuing to serve you.
Planning - The General Assembly has directed several agencies to begin better preparing for the aging baby-boomer population. The law (SB 195 - SL2009-407) directs the University of North Carolina Institute on Aging and the Division of Aging and Adult Services to organize meetings of gerontologists, researchers and others to identify and prioritize issues the state will have to address. It also calls for the development of a website with information about how serve increasing numbers of adults.
Adult Care - The Division of Aging and Adult Services has been asked to study the issue of criminal history record checks for owners, operators, volunteers, and prospective owners, operators, and volunteers in adult day care programs and adult day health services programs. Among other things, the legislation (HB 1703 -SL2010-93) specifies that the study should identify which positions warrant a background check, develop a process for conducting the checks and designate who is responsible for requesting and paying for the check.
_County Departments of Social Services have been directed to conduct follow-up monitoring of adult care homes (HB 1186 - SL2009-232). The law is meant to improve patient safety by improving oversight of adult-care homes.
Health -_ Legislation to establish a long-term care partnership program was passed (SB 1193 - SL2010-68). Under a partnership program, a person who purchases a qualified long-term care insurance policy that provides a certain dollar amount of benefits will be allowed to disregard assets equal to the insurance payout when applying for Medicaid. States that have initiated a partnership program have found that this encourages people to plan for their long-term needs and also results in savings to their state Medicaid programs.
_ Several recommendations made by the N.C. Study Commission on Aging to expand dental care services for older and disabled North Carolinians with special care needs were approved, including having state agencies look at Medicaid reimbursement for certain services and coordinating workforce efforts to increase the number of dental care providers serving persons with special care needs. (SB 188 - SL2009-100).
_Automated calls to protect the public health, safety, or welfare are now allowed under a new state law (HB 1034 - SL2009-364). The system will be used to inform people that they have purchased products or medication that may be subject to a safety recall; that the person has not picked up a filled prescription drug or that one of their accounts may be subject to potential fraudulent activity. The calls cannot be used for any commercial purposes.
Safety - The Division of Emergency Management is establishing a voluntary registry that counties and municipalities can use to identify functionally and medically fragile people during a disaster under a new state law (SB 258 - SL2009-225). The law also authorizes counties and municipalities to operate similar registries.
_We passed a new law to clarify that a Silver Alert may be issued for a person of any age (HB 1129 - SL2009-143). The Silver Alert System is a statewide system used to notify people about missing persons believed to be suffering from dementia or other cognitive impairments. Trends show more citizens will suffers from these conditions at an increased rate and at an earlier age.
Housing - The Statutory Homestead Exemption has been increased under a new state law (HB 1058 - SL2009-417). Qualified people aged 65 or older qualify for the exemption, which increased from $37,000 to $60,000.
Budget - $100,000 was approved to support Project C.A.R.E., the respite care and support program for families caring for persons with Alzheimer’s.
_ Funding for optional services under Medicaid (such as dental care; eye care and eyeglasses; occupational, physical, and speech therapies; hospice; prosthetics and orthotics; community alternative program; and rehabilitation services) for aged, blind, and disabled adults was preserved for the most part. The one area in which there was a significant cut was to Medicaid personal care services which provides in-home help to disabled and frail older adults. This program received a recurring cut of $50.7 million. The program had been criticized for allegedly serving people who did not meet the specific disability criteria and for providing more hours of service for people than what they needed.
_ We maintained funding for the Home and Community Care Block Grant at the current level which helps older adults stay in their homes.
_ $450,000 was appropriated for the operation of the Stroke Advisory Council, the continued implementation of the public awareness campaign and identification of stroke rehabilitation services throughout the State.
_ $150,000 was authorized for a grant-in-aid to Prevent Blindness of North Carolina .
_ $50,000 was provided for a non-recurring grant-in-aid to NC Arthritis Patient Services is provided for in the budget.
Notes
_ The latest US Bureau of Labor Statistics report shows that North Carolina led the nation in employment gains from July to August with the addition of 18,600 jobs. The report also points out that our state ranked fourth among the states in employment gains from August 2009 to August 2010 with 36,700 jobs. We were third in the nation in over the year jobless rate with a decline of 1.2 percentage points.
_ Cree Inc., a global leader in LED lighting technology and products, will expand its manufacturing operations in Durham . The company plans to create 244 jobs over the next two years and invest $135 million.
_ Empire Foods Inc., an advanced-technology food processing company, will bring 200 jobs to Halifax County . The company, using technology licensed from N.C. State University , plans to create 200 jobs and invest $2.5 million over the next five years.
_ Baltek Inc., a manufacturer of core materials for the wind energy, mass transit, marine and military markets, will relocate to a new manufacturing facility in Guilford County . The company plans to create 68 jobs and invest $3.25 million over the next three years.
_ DNP IMS America Corp., a printing-technology company, will expand in Concord . The company plans to create 37 jobs and invest $24.8 million during the next three years.
Thursday, October 14, 2010
Foreclosure Freeze
Understanding the Foreclosure Freeze
by Bob Stahl, www.MyPhoenixMLS.com Guest Writer
Last week, Bank of America announced that it was halting foreclosures in all 50 states in order to review its foreclosure procedures, specifically the use of “robo-signers” – employees who were pushing paperwork through without verifying authenticity of the information. And now there is pressure mounting for other banks to follow suit. As of “press time” for this blog, Wells Fargo has adamantly denied that they will halt foreclosures to the point that BofA has, and most banks are doing more targeted foreclosures freezes.
This has created a lot of question from homeowners: both those interested in pursuing a foreclosure as well as those simply wondering how the freezes will impact them. I asked readers from my blog to submit questions and I also have some over-arching ones here to help us get a better understanding of the situation and its influence.
Why is this happening?
There is a lot of paperwork involved in buying a house. Yes, I’m pointing out the obvious. But it’s important to think about that pile of paperwork when understanding how the breakdown can happen.
Essentially, banks right now are having a difficult time proving that they own some of the mortgages they are attempting to foreclose on. Why? Because of a piece of paperwork called an “assignment” that is typically a short document signed by both the seller and buyer of the mortgage acknowledging the sale. In a perfect world, after the sale, it is then attached to the mortgage documents and delivered to the new owner.
However, during the height of the housing bubble, investment banks were churning out mortgage bonds in such a frenzy, sometimes the assignments never got executed. Often times, much of the documents were not properly signed, administered, inputted and filed. It was a fast growing bubble and difficult to keep up with.
But these assignments are important as they show ownership. For most mortgages, the assignments probably exist somewhere and it’s just a matter of tracking them down. But some mortgage lenders have since gone out of business or been acquired by a larger bank. This makes the process difficult. And if a bank can’t prove they own the mortgage, how can they foreclose on it?
How did it get to this point?
This issue has actually been quietly simmering for some time. But what really brought the issue to light was when Jeffrey Stephan, a GMAC loan officer who supervised 14 people, admitted in a sworn deposition that he signed off on between 8,000 and 14,000 foreclosure documents. . . a month. . . for five years. This Web site has much of his testimony, which is pretty interesting to read.
So it’s all Stephan’s fault? No, not at all. But it gave way to examination on how foreclosures were being processed everywhere and Stephan’s experience wasn’t isolated. And this is where the term “robo-signer” was born, given that people were acting as robots, just signing documents without taking the time to properly review them.
Hence, banks have chosen to freeze filings, take a step back and breathe. Where do they go from here?
If the problem is just that of robo-signers, banks can likely resume foreclosures before too long. But there is suspicion that banks don’t know where those assignments are, can’t prove that they own these mortgages – and this can truly impair their ability to foreclose on a property.
What does this mean for the housing market and the economy?
Lots of speculation, but analysts are saying that home prices will increase in the short term as the low-priced bargain foreclosures are taken off the market. However, home prices will most likely take a dip once the banks deal with robo-signers, find the assignments and foreclosures go back on the market
There is a concern out there that this may impact the economy by banks pulling back lending (yes, even more than they already have). This would be disappointing, but hopefully if it did happen, would just be in the short-term as they deal with the current issue at hand and gain an understanding of their true portfolios/ownership of these properties.
For REALTORS® and prospective home buyers, it means really checking into the foreclosed properties that are on the market to ensure that they are properly documented so that your purchase doesn’t get put on hold or take a long time to exchange hands.
by Bob Stahl, www.MyPhoenixMLS.com Guest Writer
Last week, Bank of America announced that it was halting foreclosures in all 50 states in order to review its foreclosure procedures, specifically the use of “robo-signers” – employees who were pushing paperwork through without verifying authenticity of the information. And now there is pressure mounting for other banks to follow suit. As of “press time” for this blog, Wells Fargo has adamantly denied that they will halt foreclosures to the point that BofA has, and most banks are doing more targeted foreclosures freezes.
This has created a lot of question from homeowners: both those interested in pursuing a foreclosure as well as those simply wondering how the freezes will impact them. I asked readers from my blog to submit questions and I also have some over-arching ones here to help us get a better understanding of the situation and its influence.
Why is this happening?
There is a lot of paperwork involved in buying a house. Yes, I’m pointing out the obvious. But it’s important to think about that pile of paperwork when understanding how the breakdown can happen.
Essentially, banks right now are having a difficult time proving that they own some of the mortgages they are attempting to foreclose on. Why? Because of a piece of paperwork called an “assignment” that is typically a short document signed by both the seller and buyer of the mortgage acknowledging the sale. In a perfect world, after the sale, it is then attached to the mortgage documents and delivered to the new owner.
However, during the height of the housing bubble, investment banks were churning out mortgage bonds in such a frenzy, sometimes the assignments never got executed. Often times, much of the documents were not properly signed, administered, inputted and filed. It was a fast growing bubble and difficult to keep up with.
But these assignments are important as they show ownership. For most mortgages, the assignments probably exist somewhere and it’s just a matter of tracking them down. But some mortgage lenders have since gone out of business or been acquired by a larger bank. This makes the process difficult. And if a bank can’t prove they own the mortgage, how can they foreclose on it?
How did it get to this point?
This issue has actually been quietly simmering for some time. But what really brought the issue to light was when Jeffrey Stephan, a GMAC loan officer who supervised 14 people, admitted in a sworn deposition that he signed off on between 8,000 and 14,000 foreclosure documents. . . a month. . . for five years. This Web site has much of his testimony, which is pretty interesting to read.
So it’s all Stephan’s fault? No, not at all. But it gave way to examination on how foreclosures were being processed everywhere and Stephan’s experience wasn’t isolated. And this is where the term “robo-signer” was born, given that people were acting as robots, just signing documents without taking the time to properly review them.
Hence, banks have chosen to freeze filings, take a step back and breathe. Where do they go from here?
If the problem is just that of robo-signers, banks can likely resume foreclosures before too long. But there is suspicion that banks don’t know where those assignments are, can’t prove that they own these mortgages – and this can truly impair their ability to foreclose on a property.
What does this mean for the housing market and the economy?
Lots of speculation, but analysts are saying that home prices will increase in the short term as the low-priced bargain foreclosures are taken off the market. However, home prices will most likely take a dip once the banks deal with robo-signers, find the assignments and foreclosures go back on the market
There is a concern out there that this may impact the economy by banks pulling back lending (yes, even more than they already have). This would be disappointing, but hopefully if it did happen, would just be in the short-term as they deal with the current issue at hand and gain an understanding of their true portfolios/ownership of these properties.
For REALTORS® and prospective home buyers, it means really checking into the foreclosed properties that are on the market to ensure that they are properly documented so that your purchase doesn’t get put on hold or take a long time to exchange hands.
Saturday, October 9, 2010
Federal Housing Administration
FHA (Federal Housing Administration)
FHA loans are mortgage loans insured by the Federal Housing Administration. With a low minimum borrower investment requirement of just 3.50% of the sales price, FHA loans are well suited for a first home purchase. Some of the benefits of FHA loans include:
1) Great low fixed rate, often comparable to the best 30 year fixed conventional rates.
2) Reduced cost mortgage insurance premiums that offer substantial savings over similar conventional loans.
3) More flexibility with credit approval than a conventional loan.
4) Parents can help a child qualify for a loan as non-occupant co-borrowers.
In the past, many lenders and Realtors avoided FHA financing due to an often difficult inspection process. Fortunately FHA has streamlined the mortgage process, and inspections will not need to be reviewed by a lender for FHA approval. FM Lending Services is a Direct Endorsement FHA underwriter. This means that we can execute the approval of your FHA loan from start to finish faster than most lenders in the Triangle.
Contact your mortgage consultant today for more information on this great loan product!
FHA loans are mortgage loans insured by the Federal Housing Administration. With a low minimum borrower investment requirement of just 3.50% of the sales price, FHA loans are well suited for a first home purchase. Some of the benefits of FHA loans include:
1) Great low fixed rate, often comparable to the best 30 year fixed conventional rates.
2) Reduced cost mortgage insurance premiums that offer substantial savings over similar conventional loans.
3) More flexibility with credit approval than a conventional loan.
4) Parents can help a child qualify for a loan as non-occupant co-borrowers.
In the past, many lenders and Realtors avoided FHA financing due to an often difficult inspection process. Fortunately FHA has streamlined the mortgage process, and inspections will not need to be reviewed by a lender for FHA approval. FM Lending Services is a Direct Endorsement FHA underwriter. This means that we can execute the approval of your FHA loan from start to finish faster than most lenders in the Triangle.
Contact your mortgage consultant today for more information on this great loan product!
Rates Are Hot!!
It may be getting cool outside but rates are hot!!!
30 year FRM 3.875%!!!
15 year FRM 3.375%!!!
5/1 ARM 2.625%!!!
Chris Holt
Sr. Mortgage Consultant, NMLS#93067
(919) 416-2225 Direct Line
(919) 595-9796 Secure Fax
cholt@fmlending.com
www.fmlending.com/durham
30 year FRM 3.875%!!!
15 year FRM 3.375%!!!
5/1 ARM 2.625%!!!
Chris Holt
Sr. Mortgage Consultant, NMLS#93067
(919) 416-2225 Direct Line
(919) 595-9796 Secure Fax
cholt@fmlending.com
www.fmlending.com/durham
Friday, October 1, 2010
The Raleigh Report- Larry D. Hall
The Raleigh Report
From the Office of Representative Larry D. Hall
September 16, 2010
One of the fastest growing parts of the state budget is Medicaid, the health plan for poor people who need extra help covering their medical costs. Since fiscal year 2000, the state’s budget for medical expenses associated with Medicaid, including federal dollars, has increased from $4.8 billion to $9.9 billion. The state and local share of those costs during that time has grown from roughly $1.8 billion to $2.3 billion. The original budget for this fiscal year called for an increase in this line item to $2.7 billion. The increased cost of Medicaid can be attributed to many things, including population growth, an aging population, rising medical costs and the recent economic downturn. Still, faced with balancing a budget without raising taxes, my colleagues and I identified several cost cutting measures this year that kept the budget essentially flat while still providing service to those who need some help getting through difficult times. This week, I wanted to share some of our recent work in this area with you.
If you have any questions or if I can be of service to you, please contact me. Thank you as always for your interest in North Carolina and state government.
Efficiencies - The state approved a number of measures this year intended to help trim Medicaid costs. These efficiency measures include:
· Authorizing the Department of Health and Human Services to require prior authorization for brand name drugs for which the phrase "medically necessary" is written on the prescription.
· Allowing the Secretary of Health and Human Services to prevent the substitution of generic drugs for brand name drugs if after consideration of all rebates the cost is less than the generic.
· Requiring that medications prescribed for mental illness are included on the Preferred Drug List. This measure, in addition to the previous two, is expected to save at least $10 million in drug costs.
· Limiting coverage to procedures recognized or approved by the National Institutes of Health.
· Directing the department to apply Medicaid medical policy to recipients who have primary insurance other than Medicare, Medicare Advantage, and Medicaid.
The state also made several steps in the effort to combat Medicaid fraud. The anticipated savings from these measures is expected to reach $40 million this year. These efforts include:
Authorizing the Department of Health and Human Services to create a fraud prevention program that uses information from state and private databases to develop a fraud risk analysis of Medicaid providers and recipients.
Allowing the department to modify or extend exi s ting contract s to achieve Medicaid fraud prevention s aving s in a timely manner.
· Establishing a Class I felony for knowingly and willfully soliciting or receiving kickbacks, bribes, or rebates in return for or to induce a person to engage in Medicaid fraud.
· Doubling the Medicaid Investigative Unit staff at the Attorney General’s Office to expand the prosecution of Medicaid fraud and abuse. Additional staff will ensure increased prosecution and additional Medicaid funds recovered from fraudulent providers.
Budget- The state’s budget also calls for saving $50 million in Medicaid costs by better case management. The initiatives:
Expand efforts of the Community Care Network of North Carolina (CCNC). The Department of Health and Human Services contracts with the network to manage use of Medicaid services. Savings will be generated by expanding care management programs in hospital discharge, mental health; palliative care, and pharmacy. The improved system will enhance data integration, analytics, and reporting, increasing performance and save an estimated $45 million.
Eliminate Medicaid reimbursement of 'never events' in hospital inpatient settings. 'Never events' are certain types of medical issues that develop or are acquired while a person is in a hospital, but should have been prevented. The policy change brings Medicaid in line with Medicare reimbursement. Estimated savings are $5 million.
Studies- Legislators have also asked for two studies related to Medicaid policies. The studies will examine:
Provider rates - The Department of Health and Human Services or a contracted group will study reimbursement rates for Medicaid providers and program benefits.
HIV waivers - The department will study the feasibility of reducing the waiting list for the AIDS Drug Assistance Program by expanding eligibility for Medicaid to HIV‑positive individuals with incomes at or below 133 percent of the federal poverty level.
North Carolina suffered through a record-breaking drought in 2007 and the aftermath of that difficult time continues to influence our public policy. In addition to the immediate response to that crisis, we have made a number of changes that will improve our long-term approach to water planning. One of the decisions made in the House of Representatives was to establish a standing House Committee on Water Resources and Infrastructure so that we can examine water resource issues more closely and develop more expertise in the area. That committee has been busy and closely considered a number of measures.
Public Water - A new law (S.L. 2010-150, HB 1747) directs large community water systems and local governments that provide public water service to revise their local water supply plans when 80 percent of the water system's available water supply (based on calendar year average daily demand) has been allocated or when seasonal demand exceeds 90 percent. The plans must address foreseeable future water needs. Local governments must normally develop and submit such plans to the Department of Environment and Natural Resources at least once every five years.
Grants and Loans - The state has modified its criteria for which water and sewer projects receive priority when applying for grants and loans. The changes in the law (S.L. 2010-151, HB 1744):
· Clarify that the repair or replacement of leaking waterlines is a priority in situations where the line repair or replacement is being done to either improve water conservation and efficiency or to prevent contamination.
· Give priority to local governments with more than 1,000 service connections over similarly sized units if they have an asset management plan.
· Establish that a high-unit-cost project has priority over lower-cost projects. In addition, the act establishes a sliding scale system for determining the priority given to projects that exceed the high-unit-cost threshold.
· Give priority to those projects that promote the consolidation, management, merger, or interconnection of water systems. If an applicant demonstrates it is not feasible for the project to include regionalization, the funding agency must assign the project the same priority as a project that includes regionalization.
· Direct each local government to develop and submit a local water supply plan to the Department of Environment and Natural Resources at least once every five years. The department must use the information in the plans to create a state water supply plan and must also identify potential conflicts among the various local plans and ways in which local water supply programs could be better coordinated.
· Require local governments to adopt minimum water conservation measures to respond to drought or other water shortage conditions, but allows local governments to adopt more stringent standards. The act gives priority to those projects that adopt more stringent water conservation measures.
Studies - The Department of Environment and Natural Resources has been directed to establish a task force to: (1) develop a statewide survey to assess the state's water and wastewater infrastructure needs; (2) develop a plan for incorporating the information compiled from the United States Environmental Protection Agency surveys into the State Water Supply Plan; and (3) develop a plan for the creation and maintenance of a statewide water and wastewater infrastructure resource and funding database.
The act (S.L. 2010-144, HB 1746) also asks the department and the Local Government Commission to evaluate the costs and benefits of increasing the oversight of public water systems and wastewater. The agencies must report their findings and recommendations to the Legislative Study Commission on Water and Wastewater Infrastructure no later than November 1.
_ The Department of Agriculture and Consumer Services and the Department of Environment and Natural Resources have been asked to: (1) work with the North Carol ina Farm Bureau Federation, other agricultural organizations, and farmers to develop a plan to identify and report on agricultural water infrastructure needs; (2) identify and encourage voluntary practices that conserve and protect water resources; and (3) design a cost-share program to assist farmers and agricultural landowners who implement best management practices to conserve and protect water resources related to agricultural use. The law (S.L. 2010-149, HB 1748) also requires that a report on their findings and recommendations be submitted to the Legislative Study Commission on Water and Wastewater Infrastructure no later than November 1
From the Office of Representative Larry D. Hall
September 16, 2010
One of the fastest growing parts of the state budget is Medicaid, the health plan for poor people who need extra help covering their medical costs. Since fiscal year 2000, the state’s budget for medical expenses associated with Medicaid, including federal dollars, has increased from $4.8 billion to $9.9 billion. The state and local share of those costs during that time has grown from roughly $1.8 billion to $2.3 billion. The original budget for this fiscal year called for an increase in this line item to $2.7 billion. The increased cost of Medicaid can be attributed to many things, including population growth, an aging population, rising medical costs and the recent economic downturn. Still, faced with balancing a budget without raising taxes, my colleagues and I identified several cost cutting measures this year that kept the budget essentially flat while still providing service to those who need some help getting through difficult times. This week, I wanted to share some of our recent work in this area with you.
If you have any questions or if I can be of service to you, please contact me. Thank you as always for your interest in North Carolina and state government.
Efficiencies - The state approved a number of measures this year intended to help trim Medicaid costs. These efficiency measures include:
· Authorizing the Department of Health and Human Services to require prior authorization for brand name drugs for which the phrase "medically necessary" is written on the prescription.
· Allowing the Secretary of Health and Human Services to prevent the substitution of generic drugs for brand name drugs if after consideration of all rebates the cost is less than the generic.
· Requiring that medications prescribed for mental illness are included on the Preferred Drug List. This measure, in addition to the previous two, is expected to save at least $10 million in drug costs.
· Limiting coverage to procedures recognized or approved by the National Institutes of Health.
· Directing the department to apply Medicaid medical policy to recipients who have primary insurance other than Medicare, Medicare Advantage, and Medicaid.
The state also made several steps in the effort to combat Medicaid fraud. The anticipated savings from these measures is expected to reach $40 million this year. These efforts include:
Authorizing the Department of Health and Human Services to create a fraud prevention program that uses information from state and private databases to develop a fraud risk analysis of Medicaid providers and recipients.
Allowing the department to modify or extend exi s ting contract s to achieve Medicaid fraud prevention s aving s in a timely manner.
· Establishing a Class I felony for knowingly and willfully soliciting or receiving kickbacks, bribes, or rebates in return for or to induce a person to engage in Medicaid fraud.
· Doubling the Medicaid Investigative Unit staff at the Attorney General’s Office to expand the prosecution of Medicaid fraud and abuse. Additional staff will ensure increased prosecution and additional Medicaid funds recovered from fraudulent providers.
Budget- The state’s budget also calls for saving $50 million in Medicaid costs by better case management. The initiatives:
Expand efforts of the Community Care Network of North Carolina (CCNC). The Department of Health and Human Services contracts with the network to manage use of Medicaid services. Savings will be generated by expanding care management programs in hospital discharge, mental health; palliative care, and pharmacy. The improved system will enhance data integration, analytics, and reporting, increasing performance and save an estimated $45 million.
Eliminate Medicaid reimbursement of 'never events' in hospital inpatient settings. 'Never events' are certain types of medical issues that develop or are acquired while a person is in a hospital, but should have been prevented. The policy change brings Medicaid in line with Medicare reimbursement. Estimated savings are $5 million.
Studies- Legislators have also asked for two studies related to Medicaid policies. The studies will examine:
Provider rates - The Department of Health and Human Services or a contracted group will study reimbursement rates for Medicaid providers and program benefits.
HIV waivers - The department will study the feasibility of reducing the waiting list for the AIDS Drug Assistance Program by expanding eligibility for Medicaid to HIV‑positive individuals with incomes at or below 133 percent of the federal poverty level.
North Carolina suffered through a record-breaking drought in 2007 and the aftermath of that difficult time continues to influence our public policy. In addition to the immediate response to that crisis, we have made a number of changes that will improve our long-term approach to water planning. One of the decisions made in the House of Representatives was to establish a standing House Committee on Water Resources and Infrastructure so that we can examine water resource issues more closely and develop more expertise in the area. That committee has been busy and closely considered a number of measures.
Public Water - A new law (S.L. 2010-150, HB 1747) directs large community water systems and local governments that provide public water service to revise their local water supply plans when 80 percent of the water system's available water supply (based on calendar year average daily demand) has been allocated or when seasonal demand exceeds 90 percent. The plans must address foreseeable future water needs. Local governments must normally develop and submit such plans to the Department of Environment and Natural Resources at least once every five years.
Grants and Loans - The state has modified its criteria for which water and sewer projects receive priority when applying for grants and loans. The changes in the law (S.L. 2010-151, HB 1744):
· Clarify that the repair or replacement of leaking waterlines is a priority in situations where the line repair or replacement is being done to either improve water conservation and efficiency or to prevent contamination.
· Give priority to local governments with more than 1,000 service connections over similarly sized units if they have an asset management plan.
· Establish that a high-unit-cost project has priority over lower-cost projects. In addition, the act establishes a sliding scale system for determining the priority given to projects that exceed the high-unit-cost threshold.
· Give priority to those projects that promote the consolidation, management, merger, or interconnection of water systems. If an applicant demonstrates it is not feasible for the project to include regionalization, the funding agency must assign the project the same priority as a project that includes regionalization.
· Direct each local government to develop and submit a local water supply plan to the Department of Environment and Natural Resources at least once every five years. The department must use the information in the plans to create a state water supply plan and must also identify potential conflicts among the various local plans and ways in which local water supply programs could be better coordinated.
· Require local governments to adopt minimum water conservation measures to respond to drought or other water shortage conditions, but allows local governments to adopt more stringent standards. The act gives priority to those projects that adopt more stringent water conservation measures.
Studies - The Department of Environment and Natural Resources has been directed to establish a task force to: (1) develop a statewide survey to assess the state's water and wastewater infrastructure needs; (2) develop a plan for incorporating the information compiled from the United States Environmental Protection Agency surveys into the State Water Supply Plan; and (3) develop a plan for the creation and maintenance of a statewide water and wastewater infrastructure resource and funding database.
The act (S.L. 2010-144, HB 1746) also asks the department and the Local Government Commission to evaluate the costs and benefits of increasing the oversight of public water systems and wastewater. The agencies must report their findings and recommendations to the Legislative Study Commission on Water and Wastewater Infrastructure no later than November 1.
_ The Department of Agriculture and Consumer Services and the Department of Environment and Natural Resources have been asked to: (1) work with the North Carol ina Farm Bureau Federation, other agricultural organizations, and farmers to develop a plan to identify and report on agricultural water infrastructure needs; (2) identify and encourage voluntary practices that conserve and protect water resources; and (3) design a cost-share program to assist farmers and agricultural landowners who implement best management practices to conserve and protect water resources related to agricultural use. The law (S.L. 2010-149, HB 1748) also requires that a report on their findings and recommendations be submitted to the Legislative Study Commission on Water and Wastewater Infrastructure no later than November 1
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