Spring 2008 is here! I want to make you aware of three items of interest.

1. Certified Septic Tank Inspectors
Many licensees have e-mailed requesting information regarding certified septic tank inspectors since a new regulation became effective January 1, 2008.  Please use the following website link to obtain this information: http://www.deh.enr.state.nc.us/oet/septic_tank_cert/septic_tank_rules.htm

2. Charlotte Region Continues to Receive National Attention
Please read the following article regarding the Charlotte region’s housing market:http://biz.yahoo.com/ap/080325/home_prices.html

3. Take CE Elective Courses On-Line “Anytime”
Please remember that you can take your NC Real Estate Elective Course on-line from your home, office, or model home.  You can register on-line, sign off and on as many times as you need, and complete the course within 30 days.  Our most popular on-line CE elective courses include the following: 1031 Tax Free Exchange, The Truth About Mold, Introduction to Commercial Real Estate, Red Flags Home Inspection Guide and Ethics for Realtors. The Ethics for Realtors on-line course satisfies the NAR ethics requirements for an Ethics class by December 31, 2008 and 4 hours of CE.

All elective courses must be completed before midnight, June 10, 2008.

View Online CE Classes Read the rest of this entry »

I hope everyone is enjoying our beautiful March weather and buyers are realizing that interest rates are under six percent! Since you are busy, I wanted to briefly share with you three hot topics being discussed across North Carolina.

1. Septic Tanks/Wells
2. New Question #21 on the NC Residential Property Disclosure Statement
3. Ethics Course Requirement for Realtors

1. Septic Tanks/Wells

• As of 1/1/08, all septic tank inspections must be completed by certified tank inspectors (of which we now have 200+/- newly certified inspectors in NC).
• As of July 1, 2008 there will be new legislature (Bill #2873) concerning private wells and septic tanks creating new regulations as to the distance of these from adjacent properties. The actual distance will be determined by the local health/building departments.

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Compiled by:
Bill Gallagher, Owner/President
Superior School of Real Estate
Written by:
Joan Riordan, General Counsel
Home Buyers Warranty

Before you purchase a new home, two frequently asked questions are, “Does the builder provide a warranty?” and “What’s the North Carolina law regarding warranties and builders?” To help you answer these two questions and to get a better understanding of NC laws and concepts regarding home warranties, I have included a copy of Joan’s information on warranties below.

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Written By:
Bill Gallagher, Owner/President
Superior School of Real Estate
bgallagher@superiorschoolnc.com

Test your knowledge with these True or False questions.

1. In North Carolina, murder and suicide is a material fact.
   False
2. In North Carolina, sexual offenders are a material fact.
   False

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Written By:
Bill Gallagher, Owner/President
Superior School of Real Estate
bgallagher@superiorschoolnc.com

Read the following article on “Tips In Working With Agents” and “3 Frequently Asked Questions”.

The Charlotte Observer, on Monday, October 1st, 2007, published an article giving buyers six “Tips On Working With An Agent”. I want you to be prepared when buyers might ask you some specific questions generated from this information. Read the rest of this entry »

Written By:
Bill Gallagher, Owner/President
Superior School of Real Estate
bgallagher@superiorschoolnc.com

As I teach across the state of North Carolina, I continue to hear remarks from licensees about the issues regarding the proper handling of earnest money deposits according to NC Law. On the NCAR/NCBA Offer To Purchase and Contract 7/2007, the “Note” in provision 4(a) has increased in size and has been updated.

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Considering a career change? Have you considered obtaining a real estate license?

Written By:
Bill Gallagher, Owner/President
Superior School of Real Estate
bgallagher@ssore.com

Many individuals consider careers changes throughout their life. The thoughts of entering the field of real estate excite many people. Success in real estate depends on many factors; however, the initial step is to obtain a real estate license. The most popular question I receive from “Ask the Expert” on www.charlotte.com and from telephone calls, is “how to get a real estate license?”

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Download the recent law changes from the North Carolina Real Estate Commission.

To view this form, you will need Adobe’s Acrobat Reader software (PDF).
If you do not have Adobe Acrobat Reader, click on the link below for a free download

Buried Residential Oil Tanks

Written By:
Bill Gallagher
President, Superior School of Real Estate
bgallagher@ssore.com

Since oil heat was very popular for many years in North Carolina and many homeowners have converted their heating system to gas or heatpump, the buried oil tank sometimes still remains buried in the ground. Sellers ask real estate agents if the buried oil tank should be dug up, filled with sand or foam, or left alone. Also, some buyers are asking to have the soil tested to see if oil has leaked from the oil bank into the ground.

Having received so many questions regarding these situations on The Charlotte Observer “Ask The Expert” (www.charlotte.com), let’s address the situation in a question and answers format based upon information from the North Carolina Department of Environment and Natural Resources (http://wastenot.enr.state.nc.us/).

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What’s the Value of your House?

Would you like to view websites to see what the value of your property is? In your opinion, are these websites accurate?

In America, individuals are always interested in the value of their property, as well as the value of your neighbor’s, your relative’s, and your supervisor’s house. Even though tax records will show you the purchase date and price, and the tax value, these numbers typically don’t indicate a current range of probable market value.

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