July 2017 Newsletter

southern homes scoop-7

Creigh Hill - Owner/BIC

THE 4 S’s:






Use the following links to see if your street is State Maintained.


If the street is not within city boundaries, then you would contact the District Field Office of the Division of Highwayswithin the NCDOT. You can also search the Division of Highways’ secondary road database by street name at the following link: https://apps.ncdot.gov/SRLookup/.

Caution: searches are very sensitive to the accuracy of the street name; if you cannot find the street or address you seek, contact the local Field Office.

General Information may be found athttp://www.ncdot.gov/doh/.

Be sure if you have a firm license to renew this as well as your broker license.  https://www.ncrec.gov/



NOTE: When you renew your license, you will be given the option to download and print a copy of your new pocket card. Please forward a copy to Support@shotcmail.com


A message from the Owner Creigh Hill


Christina Pridgeon - Southern Homes Insurance Powered By AllCare


Wisdom Strikeleather - Southern Homes Title Insurance


This is why conducting a full search (back to developer or 30 years) is so important!


Telling the title company too much is certainly better than not telling them enough. Too often, something not said can cause the title company to do or not do something that is vital to a real estate transaction closing. Tell the title company everything. Let the decision be that of the title company. Do not fail to tell all the story and cause something to be insured over that otherwise would not and should not be. This could be fatal to the closing attorney in that the company could actively seek reimbursement for the loss because of a concealed fact that should have been shared. In addition, the client may be denied coverage for matters suffered, assumed or agreed to by the proposed insured or matters known to the insured but not disclosed to the title insurer under the standard exclusions of the ALTA policies. Title issues are not to be decided by the closing attorney when trying to procure insurance.


Courtesy of "Chicago Title Insurance"


Karen Patterson - Movement Mortgage


This week’s reports on wholesale inflation and a series of Federal Reserve speeches has made one thing very clear: Chances are very good for a rate hike in June.

After increasing its target interest rate in March, the Federal Reserve has stood still in the following weeks. But projections of inflation, employment and other economic indicators continue to make a good case for further increases as part of the Fed’s plan to increase rates three times this year.

On Thursday, markets were surprised by wholesale inflation increasing at a more rapid pace than expected. The Producer Price Index, a monthly reading on the price of wholesale goods, increased by 0.5 percent. Analysts had only expected a 0.2 percent increase.

The increase in wholesale prices were broad-based across industries and supported a trend of rising prices in many sectors of the economy. The annualized 3-month average for the Producer Price Index is now 2.9 percent, a significant increase that shows no signs of peaking.


The April consumer price index, released Friday morning, rebounded to a modest rate after an unexpected decline in March. Analysts have been watching consumer prices increase since last summer, and the March dip combined with April’s rebound seem to indicate a more modest pace of inflation on consumer goods.

The CPI advanced a seasonally adjusted 0.2% in April from the prior month, the Labor Department said Friday. Excluding the volatile categories of food and energy, so-called core prices rose just 0.1% from March. Consumer costs have increased 2.2 percent since this time a year ago, marking the second straight month annual gains eased.

This inflation mixed bag (wholesale acceleration and only modest consumer increases) will be on the minds of Federal Reserve Open Market Committee members, who are tasked with keeping employment at full levels while attempting to use monetary policy to keep inflation at 2 percent annually.

Bank presidents: Rate hike seems imminent

Speaking of the Fed, four Fed officials gave speeches this week, a rarity for the usually silent central bank. These speeches, while giving members of the committee a platform for advocating their individual ideas, can also be coordinated to help investors read tea leaves on what moves will be made next.

One common theme in remarks this week is that Fed leaders believe their plans to slowly increase rates and reduce other accommodative monetary policy, such as buying mortgage-backed securities, are on track.

Federal Reserve Bank of New York President William Dudley told an audience in Mumbai, India this week that the Fed will be cautious not to move too swiftly in order not to upset markets. Still, he confirmed strong employment and inflation numbers supported the Fed’s plans to begin unwinding its recession-era policies.

“We are pretty close to full employment,” Dudley said, according to Bloomberg. “Inflation is just a little bit below our target of 2 percent if you look at the underlying inflation trend, so clearly if the economy continues to grow above trend we are going to want to gradually remove monetary policy accommodation.”

Federal Reserve Bank of Boston President Eric Rosengren took an even more hawkish stance. In a speech in Vermont this week, he told investors the economy faced a risk of becoming “over-hot” with the unemployment rate dropping down to just 4.4 percent in April, with rising wages and prices.

He advocated for three more interest rate increases before the end of 2017 and for Fed officials to begin reducing its $4 trillion balance sheet, made up of Treasury bonds and mortgage securities, which it purchased during the recession to provide monetary stimulus to the weak economy.

“This would represent an unsustainable, overshooting pace, and provides an important rationale for continuing the process of normalization of monetary policy that is currently underway,” Rosengren said. “Along with a gradual reduction in the level of the balance sheet, it would still be reasonable to have three rate increases over the remainder of this year, assuming the economy evolves like my forecast envisions,” he said.

Minneapolis Fed President Neel Kashkari and Dallas Fed President Robert Kaplan also gave speeches this week that seemed to fall in line with their colleagues. While Kashkari advocated for tight regulations on the largest banks, and Kaplan spoke about the tightening labor market, neither said anything to go against the grain of additional rate hikes.

What does this all mean for us? As I’ve said all year, gradually rising rates should be expected, even though Friday’s weak consumer price index keeps some rate-increase headwinds in place. I still don’t see a scenario in the near-term that would call for sharp increases, but a June increase is still likely. In general, the market has priced in these trends so I do not see a major change in pricing on the horizon.

The Asian influence

To close our blog this week, I want to pass along an interesting overseas development that reminds us why global economics matter.

This weekend, a number of Asian policymakers will convene in Beijing, China to discuss the One Belt, One Road project, a potentially $500 billion initiative to invest in logistics infrastructure.

Chinese President Xi Jinping first announced the policy in 2013, and it was later named one of China’s three major national strategies. According to a CNBC report, the plan aims to connect Asia, Europe, the Middle East and Africa with a vast logistics and transport network, using roads, ports, railway tracks, pipelines, airports, transnational electric grids and even fiber optic lines. The project involves 65 countries, which together account for one-third of global GDP and 60 percent of the world’s population, or 4.5 billion people, according to Oxford Economics.

This ambitious spending plan, if brought to fruition, would further expand China’s influence in global trade and economics. It would also accelerate economic growth in a number of developing countries.

While this doesn’t affect our economy in the near-term, it’s important to remember the global nature of economics today. If a plan such as this took shape, it would certainly be felt in our trade relationships, the price of goods and services and, yes, even our interest rates and monetary policy.

Make It A Great Day!

Karen Patterson



Karen Edmondson - Denver Office BIC

Article 12

REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations. REALTORS® shall ensure that their status as real estate professionals is readily apparent in their advertising, marketing, and other representations, and that the recipients of all real estate communications are, or have been, notified that those communications are from a real estate professional.
In marketing properties, REALTORS® use advertising to inform the public about listings and to induce interest in them. REALTORS® are obligated to present a “true picture” in their advertising and in all representations to the public. A “true picture” is truthful, accurate advertising, and nothing less. Descriptions that go beyond “puffing” may mislead the public. Statistics indicating a REALTOR®’s sales volume and comparisons with other firms can be impressive, but if they are inaccurate, untrue, or misleading, their use injures the public and violates Article 12.
REALTORS® must always disclose their status as real estate professionals in their advertisements.
This may be accomplished by including the terms “REALTOR®,” “REALTORS®,” or “REALTOR-ASSOCIATE®,” or by disclosing their status as a licensed broker, appraiser, property manager, or other real estate professional.
In advertising listed property, REALTORS® must also disclose the name of their firm so that the public will be aware that they are dealing with the property owner’s agent. Further, the REALTOR® must ensure that all brokers and salespeople affiliated with the firm include the firm’s name in their advertisements of listed properties.
When advertising unlisted property in which the REALTOR® has any ownership interest, the advertisement must disclose the interest and the existence of Board membership or real estate licensure.
Services and products should be described as “free” or “free of charge” only when all terms governing availability are clearly disclosed at the same time as when the “free” product or service is offered. (Refer to Standard of Practice 12-1 and Case Interpretations #12-7 and #12-10)
You may represent your services as “free” or without cost even if you expect to receive compensation from a source other than your client provided that the potential for you to obtain a benefit from a third party is clearly disclosed at the same time. (Refer to Standard of Practice 12-2)
If you offer incentives to list, sell, purchase, or lease property, be sure the terms and conditions of your offer are clear and readily understandable. (Refer to Standard of Practice 12-3)
Obtain the client’s permission to advertise the client’s property. Never advertise listed property at a price other than that agreed to by the client. (Refer to Standard of Practice 12-4)
All advertisements of real estate services or listed property must include the name of your firm. (Refer to Standard of Practice 12-5)
When acting as a principal in the sale or lease of your own property, disclose your status as a REALTOR® or as a licensee so that prospective purchasers or tenants will be aware of your special knowledge and expertise. (Refer to Standard of Practice 12-6 and Case Interpretation #12-8)
Only listing brokers or cooperating (selling) brokers have the right to advertise that they “sold” the property. Either the listing broker or the cooperating broker may claim to have “sold” the property upon acceptance of a purchase offer by the seller. However, prior to closing, a cooperating broker may only post a “sold” sign with the consent of the listing broker. (Refer to Standard of Practice 12-7 and Case Interpretations #12-11, #12-12, and #12-13)
Your obligation to present a true picture includes information presented on your website. (Refer to Standard of Practice 12-8)
Websites of REALTORS®, their firms, and all licensees affiliated with the firm must include the firm’s name and state of licensure and the licensee’s state of licensure in a reasonable and readily apparent manner. (Refer to Standard of Practice 12-9)
The duty to present a true picture in advertising and representations to the public includes content posted on the Internet, URLs and domain names. (Refer to Standard of Practice 12-10 and Case Interpretation #12-20)
If you intend to sell or share consumer information gathered via the Internet, disclose that possibility in a reasonable and readily apparent manner. (Refer to Standard of Practice 12-11)
Do not use URLs/domain names that present anything other than a true picture, or register URLs/domain names which, if used, would present less than a true picture. (Refer to Standard of Practice 12-12 and Case Interpretation #12-20)
It is not unethical to have previously registered a URL name which is the same as or similar to a name of a subsequently-established firm. (Refer to Standard of Practice 12-12 and Case Interpretation #12-21)
However, do not register URLs or domain names that are the same as or similar to competitors’ firms’ names and do not use intentionally misspelled domain names based on names of competitors’ firms. (Refer to Standard of Practice 12-12 and Case Interpretations #12-22 and #12-23)
It is not a violation of the Code of Ethics to register a domain name based on a sales associate’s name, with his or her consent, provided the URL presents a true picture. If the sales associate later leaves the firm, the former firm should not continue to use, and should not renew the domain name. (Refer to Standard of Practice 12-12 and Case Interpretation #12-24)
Use and display only the professional designations, certifications, and other credentials you are legitimately entitled to use. (Refer to Standard of Practice 12-13)
Remember that “For Sale” signs are a form of advertising subject to the requirements of Article 12. (Refer to Case Interpretation #12-1)
Avoid exaggeration and dishonesty in your advertisements. Strive to present a “true picture.” (Refer to Case Interpretations #12-2, #12-3, and #12-4)
Advertising claims should not be based upon uncertain or unpredictable factors over which you have little or no control. (Refer to Case Interpretation #12-4)
While a “sold” sign may be placed on a property when an offer to purchase has been accepted, it should be removed if the transaction falls through. (Refer to Case Interpretation #12-5)
Don’t mislead the public into believing they can save money by purchasing from you if that is not the case. (Refer to Case Interpretation #12-6)
Avoid false advertising. (Refer to Case Interpretation #12-9)
Remember to observe Article 12’s “true picture” mandate when advertising property as being “offered exclusively.” (Refer to Case Interpretation #12-14)
“Linking” to other Internet websites, even if those sites include listings of other real estate professionals, does not constitute advertising of the type contemplated by Article 12. (Refer to Case Interpretation #12-15)
You cannot copy information from the Internet websites of other real estate professionals and publish it on your website without the listing broker’s permission even if the information on your website identifies the listing broker. (Refer to Case Interpretation #12-16)
Article 12’s “true picture” assurance bars the use of misleading Internet domain names, including use of the names of competitors or their firms. (Refer to Case Interpretation #12-17)
Promptly remove information about expired listings from your website. (Refer to Case Interpretation #12-18)
If you affiliate with a new firm, remember to observe Article 12’s “true picture” when making representations about cumulative sold information. (Refer to Case Interpretations
#12-25 and #12-26)